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REGISTERED NUMBER: 04623595 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Graham Sykes Limited

Graham Sykes Limited (Registered number: 04623595)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Graham Sykes Limited (Registered number: 04623595)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 16,681 24,094
Tangible assets 5 6,114 5,463
22,795 29,557

CURRENT ASSETS
Debtors 6 316,997 399,793
Cash at bank and in hand 205,016 105,269
522,013 505,062
CREDITORS
Amounts falling due within one year 7 232,197 254,559
NET CURRENT ASSETS 289,816 250,503
TOTAL ASSETS LESS CURRENT
LIABILITIES

312,611

280,060

PROVISIONS FOR LIABILITIES 1,327 1,121
NET ASSETS 311,284 278,939

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 311,282 278,937
SHAREHOLDERS' FUNDS 311,284 278,939

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 June 2025 and were signed on its behalf by:





I R Mcmanus - Director


Graham Sykes Limited (Registered number: 04623595)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Graham Sykes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04623595

Registered office: Jubilee House
Long Bennington Business Park
Long Bennington
Newark
Nottinghamshire
NG23 5JR

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised at the fair value of the commission receivable for services provided in the ordinary nature of the business. Insurance commission is recognised in full in the month the policy commences, as adjusted for policies that are expected to subsequently lapse post period year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% straight line
Computer equipment - 20% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Graham Sykes Limited (Registered number: 04623595)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Insurance debtors and creditors
The company acts as an agent in broking the insurance risks of clients and normally is not liable as a principal for premiums due to underwriters or for claims payable to clients. Notwithstanding the legal relationships with clients and underwriters, the company has followed generally accepted accounting practise for insurance intermediaries by showing debtors, creditors and cash balances relating to the insurance broking business as assets and liabilities of the company itself. This recognises that the company is entitled to retain the investment income on any cash flows arising from these transactions.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 74,135
AMORTISATION
At 1 January 2024 50,041
Charge for year 7,413
At 31 December 2024 57,454
NET BOOK VALUE
At 31 December 2024 16,681
At 31 December 2023 24,094

Graham Sykes Limited (Registered number: 04623595)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024 15,177 39,828 55,005
Additions - 3,029 3,029
At 31 December 2024 15,177 42,857 58,034
DEPRECIATION
At 1 January 2024 14,805 34,737 49,542
Charge for year 277 2,101 2,378
At 31 December 2024 15,082 36,838 51,920
NET BOOK VALUE
At 31 December 2024 95 6,019 6,114
At 31 December 2023 372 5,091 5,463

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 102,857 160,497
Amounts owed by group undertakings 205,754 189,075
Other debtors 8,386 50,221
316,997 399,793

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 195,590 213,665
Amounts owed to group undertakings 98 -
Taxation and social security 28,812 33,340
Other creditors 7,697 7,554
232,197 254,559

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 21,358 23,300
Between one and five years - 29,125
21,358 52,425

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1 2 2

Graham Sykes Limited (Registered number: 04623595)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party
transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The company's parent undertaking is Noble Insurance Group Limited. The registered office and business
address of the parent undertaking is Jubilee House, Long Bennington Business Park, Long Bennington, Newark,NG23 5JR.