Company registration number 12551890 (England and Wales)
Birkdale Broking Group Limited
Annual report and unaudited financial statements
For the year ended 31 December 2024
Birkdale Broking Group Limited
Company information
Directors
Mr G A Wall
Mr G Fennah
Mr K Catterall
(Appointed 14 November 2024)
Company number
12551890
Registered office
Birkdale Insurance Group
Ground Floor
14-16 Hoghton Street
Southport
Merseyside
PR9 0PA
Accountants
DJH Business Advisers Limited
The Glades
Festival Way
Festival Park
Stoke-on-Trent
Staffordshire
ST1 5SQ
Birkdale Broking Group Limited
Contents
Page
Directors' report
1
Accountants' report
2
Statement of income and retained earnings
3
Statement of financial position
4 - 5
Notes to the financial statements
6 - 11
Birkdale Broking Group Limited
Directors' report
For the year ended 31 December 2024
- 1 -

The directors present their annual report and financial statements for the period ended 31 December 2024.

Principal activities

The principal activity of the company continued to be that of an insurance broker.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr G A Wall
Mr G Fennah
Mr K Catterall
(Appointed 14 November 2024)
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr G A Wall
Director
16 May 2025
Birkdale Broking Group Limited
Accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Birkdale Broking Group Limited for the year ended 31 December 2024
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Birkdale Broking Group Limited for the year ended 31 December 2024 which comprise the statement of income and retained earnings, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Birkdale Broking Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Birkdale Broking Group Limited and state those matters that we have agreed to state to the board of directors of Birkdale Broking Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Birkdale Broking Group Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Birkdale Broking Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Birkdale Broking Group Limited. You consider that Birkdale Broking Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Birkdale Broking Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

DJH Business Advisers Limited
The Glades
Festival Way
Festival Park
Stoke-on-Trent
Staffordshire
ST1 5SQ
16 May 2025
Birkdale Broking Group Limited
Statement of income and retained earnings
For the year ended 31 December 2024
- 3 -
Year
Period
ended
ended
31 December
31 December
2024
2023
Notes
£
£
Turnover
4,629,325
2,355,064
Administrative expenses
(3,825,938)
(1,889,054)
Other operating income
33
91
Operating profit
803,420
466,101
Interest receivable and similar income
26,904
103
Interest payable and similar expenses
(49,134)
(36,075)
Profit before taxation
781,190
430,129
Tax on profit
3
(178,040)
(124,991)
Profit for the financial year
603,150
305,138
Retained earnings brought forward
67,427
(137,711)
Dividends
(670,000)
(100,000)
Retained earnings carried forward
577
67,427
Birkdale Broking Group Limited
Statement of financial position
As at 31 December 2024
- 4 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
386,180
226,772
Current assets
Debtors
5
2,522,190
1,523,599
Cash at bank and in hand
808,485
1,154,118
3,330,675
2,677,717
Creditors: amounts falling due within one year
6
(3,147,573)
(2,206,223)
Net current assets
183,102
471,494
Total assets less current liabilities
569,282
698,266
Creditors: amounts falling due after more than one year
7
(521,205)
(575,639)
Provisions for liabilities
(47,400)
(55,100)
Net assets
677
67,527
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
577
67,427
Total equity
677
67,527
Birkdale Broking Group Limited
Statement of financial position (continued)
As at 31 December 2024
- 5 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 16 May 2025 and are signed on its behalf by:
Mr G A Wall
Director
Company registration number 12551890 (England and Wales)
Birkdale Broking Group Limited
Notes to the financial statements
For the year ended 31 December 2024
- 6 -
1
Accounting policies
Company information

Birkdale Broking Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Birkdale Insurance Group, Ground Floor, 14-16 Hoghton Street, Southport, Merseyside, PR9 0PA.

1.1
Reporting period

The financial statements in the comparative period cover an 8 month period, as the reporting date was shortened from 30 April 2024 to 31 December 2023 to align with connected parties. Therefore, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% straight line.
Fixtures and fittings
20% straight line.
Computers
33% Reducing Balance
Motor vehicles
15% straight line.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Birkdale Broking Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
- 7 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Birkdale Broking Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
- 8 -
1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Birkdale Broking Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
- 9 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
47
33
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
185,740
69,891
Deferred tax
Origination and reversal of timing differences
(7,700)
55,100
Total tax charge
178,040
124,991
4
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
17,384
19,942
14,332
240,884
292,542
Additions
14,537
13,412
16,456
179,955
224,360
Disposals
-
0
(535)
-
0
-
0
(535)
At 31 December 2024
31,921
32,819
30,788
420,839
516,367
Depreciation and impairment
At 1 January 2024
1,708
2,096
1,435
60,531
65,770
Depreciation charged in the year
2,362
4,964
7,396
49,695
64,417
At 31 December 2024
4,070
7,060
8,831
110,226
130,187
Carrying amount
At 31 December 2024
27,851
25,759
21,957
310,613
386,180
At 31 December 2023
15,676
17,846
12,897
180,353
226,772
Birkdale Broking Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
- 10 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,156,651
1,345,725
Other debtors
365,539
177,874
2,522,190
1,523,599
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
149,423
117,831
Trade creditors
2,448,733
1,867,107
Taxation and social security
293,493
111,138
Other creditors
255,924
110,147
3,147,573
2,206,223
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
521,205
575,639
8
Loans and overdrafts
2024
2023
£
£
Bank loans
149,423
117,831
Other loans
287,246
427,082
436,669
544,913
Payable within one year
149,423
117,831
Payable after one year
287,246
427,082
9
Secured debts

Amounts due under finance leases and hire purchase contracts are secured against the assets which they relate to. The amount due for the period ended 31 December 2024 is £303,679 (2023: £174,538).

 

Birkdale Broking Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
- 11 -
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
119,617
135,089
11
Directors' transactions

The advance is unsecured, repayable on demand and interest is charged at HMRC's official rate of interest per annum, where the balance exceeds £10,000.

 

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Directors Loan Account
2.25
126,103
65,498
2,293
(193,125)
769
126,103
65,498
2,293
(193,125)
769
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