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Registered Number:08221173













CARRIAGEHOUSE (UK) LIMITED




UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS
 
PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024











 
CARRIAGEHOUSE (UK) LIMITED
REGISTERED NUMBER:08221173


BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Notes
£
£

Fixed assets
  

Intangible assets
 4 
-
-

Tangible assets
 5 
28,067
33,456

  
28,067
33,456

Current assets
  

Stocks
  
1,000
1,000

Debtors: amounts falling due within one year
 6 
184,853
168,279

Cash at bank and in hand
 7 
303,758
242,732

  
489,611
412,011

Creditors: amounts falling due within one year
 8 
(270,542)
(303,675)

Net current assets
  
 
 
219,069
 
 
108,336

Total assets less current liabilities
  
247,136
141,792

Provisions for liabilities
  

Deferred tax
  
(4,495)
(5,880)

  
 
 
(4,495)
 
 
(5,880)

Net assets
  
242,641
135,912


Capital and reserves
  

Called up share capital 
  
15,000
15,000

Profit and loss account
  
227,641
120,912

  
242,641
135,912


- 1 -



 
CARRIAGEHOUSE (UK) LIMITED
REGISTERED NUMBER:08221173

    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the Board and were signed on its behalf on 24 June 2025.




F R Gordon-Clarke
Director

The notes on pages 3 to 10 form part of these financial statements.


- 2 -



 
CARRIAGEHOUSE (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Carriagehouse (UK) Limited (the "Company") is a private company limited by shares and incorporated in England and Wales. The address of the registered office is 4 Mors End Mors End, Stratford St. Mary, Colchester, England, CO7 6YF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 presentational currency is pounds sterling and the financial statements are rounded to the nearest pound.

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover consists principally of net brokerage, commissions and fee income arising on insurance
policies.
Brokerage received or receivable that do not require the Company to render further services are
recognised as revenue on the effective commencement or renewal date and invoice date
of the related policies.
The Company provides claims administration support to policy holds, the time required to undertake this activity is incidental to the placement activities undertaken and therefore no post placement activities providing is provided in the financial statements.

  
2.3

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of the business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life.

 
2.4

Going concern

The trade was sold to a third party in July 2024, following this the Company will continue to facilitate the administration of claims arising on insurance policies that were placed prior to the sale. It is anticipated that the claims activity will continue to be undertaken in 2026. The director is confident that the Company will continue to trade until the administration of the final claims are complete and therefore the accounts have been prepared on a going concern basis.


- 3 -



 
CARRIAGEHOUSE (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

  
2.6

Pensions

The Company operates a defined contribution pension scheme for its employees. A defined contribution pension scheme is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in Other Creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

- 4 -



 
CARRIAGEHOUSE (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% reducing balance
Office equipment
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

  
2.10

Assets and liabilities relating to insurance transactions

The Company acts as agent in placing the insurance business of its clients and is not generally liable
as principal for amounts arising from such transactions. The Company is entitled to retain any
investment income arising from the cash flows attributable to these transactions and have therefore
included debtors, creditors and cash balances relating to insurance transactions within the assets
and liabilities of the Company. Debtors balances included in respect of insurance transactions are not
an indication of credit risk.
Trade and other debtors and creditors are recognised at amortised cost less any impairment losses
in the case of debtors. Impairment losses are the difference between the carrying amount of the
assets and the best estimate of the amount that would be received for the asset if it were to be sold.
Impairment losses and their reversals are recognised immediately in the Statement of
Comprehensive Income.


- 5 -



 
CARRIAGEHOUSE (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The

- 6 -



 
CARRIAGEHOUSE (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


- 7 -



 
CARRIAGEHOUSE (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

  
2.14

Dividends

Equity Dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an Annual General Meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).


4.


Intangible assets




Goodwill

£



Cost


At 1 October 2023
405,835



At 30 September 2024

405,835



Amortisation


At 1 October 2023
405,835



At 30 September 2024

405,835



Net book value



At 30 September 2024
-



At 30 September 2023
-




- 8 -



 
CARRIAGEHOUSE (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost 


At 1 October 2023
5,629
70,558
76,187



At 30 September 2024

5,629
70,558
76,187



Depreciation


At 1 October 2023
3,979
38,752
42,731


Charge for the year on owned assets
247
5,142
5,389



At 30 September 2024

4,226
43,894
48,120



Net book value



At 30 September 2024
1,403
26,664
28,067



At 30 September 2023
1,650
31,806
33,456


6.


Debtors : Amounts falling due within one year

2024
2023
£
£


Trade debtors
12,401
123,742

Other debtors
170,222
39,987

Prepayments and accrued income
2,230
4,550

184,853
168,279


Included within other debtors due within one year is a loan to Fiona Clarke, a Director, amounting to £169,897 (2023 - £39,662). Amounts repaid during the year totalled £37,089




- 9 -



 
CARRIAGEHOUSE (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
303,758
242,732


Cash at bank and in hand includes insurance related cash of £187,490 (2023 : £213,873). Insurance related cash balances represents amounts held by the Company on behalf of its underwriters arising due to the Company's insurance broking operations. Monies held on behalf of clients are not available to be for the Companys general use. A corresponding liability in respect of this amount is included within trade creditors.


8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
202,602
268,122

Corporation tax payable
48,936
23,077

Other taxation and social security
614
1,828

Other creditors
3,520
2,688

Accruals and deferred income
14,870
7,960

270,542
303,675



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £9,048 (2023 - £30,090). Contributions amounting to £1,942 (2023 - £461) were payable to the fund at the balance sheet date and are included in other creditors.


10.


Controlling party and related parties

F R Gordon-Clarke is the sole director and shareholder of the Company, and therefore is the ultimate controlling party.
At the balance sheet date £169,897 was owed to the company by the director (2023: £39,662).


11.


Subsequent events

As of the end of July 2025, commission charges by the Company to clients will stop. The business will continue to operate handling claims relating to policies issued in previously.

 

- 10 -