Company No: 09908568 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Mark Andrew Wilkinson

REGISTERED OFFICE	Floor 7 Lyndon House
	62 Hagley Road
	Birmingham
	B16 8PE
	United Kingdom

COMPANY NUMBER

09908568 (England and Wales)

ACCOUNTANT	Ian Walker & Co
	Wellington House
	Aviator Court
	Clifton Moor
	York
	YO30 4UZ
	United Kingdom

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	278,681		0
Tangible assets	4	380,385		205,760
		659,066		205,760
Current assets
Debtors	5	290,756		382,783
Cash at bank and in hand	6	922,593		1,425,178
		1,213,349		1,807,961
Creditors: amounts falling due within one year	7	( 1,196,051)		( 1,521,661)
Net current assets		17,298		286,300
Total assets less current liabilities		676,364		492,060
Creditors: amounts falling due after more than one year	8	( 147,264)		( 255,289)
Net assets		529,100		236,771
Capital and reserves
Called-up share capital	9	87		87
Capital redemption reserve		13		13
Profit and loss account		529,000		236,671
Total shareholders' funds		529,100		236,771

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

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Norton Insurance Brokers Limited (registered number: 09908568) were approved and authorised for issue by the Director on 16 September 2025. They were signed on its behalf by:

Mark Andrew Wilkinson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Norton Insurance Brokers Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Floor 7 Lyndon House, 62 Hagley Road, Birmingham, B16 8PE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	10 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	10 years straight line
Computer equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	50		41

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2024	0		0
Additions	288,291		288,291
At 31 December 2024	288,291		288,291
Accumulated amortisation
At 01 January 2024	0		0
Charge for the financial year	9,610		9,610
At 31 December 2024	9,610		9,610
Net book value
At 31 December 2024	278,681		278,681
At 31 December 2023	0		0

4. Tangible assets

	Leasehold improve- ments		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 January 2024	41,202		10,086		39,693		493,114		584,095
Additions	146,517		0		34,666		64,994		246,177
Disposals	( 41,202)		( 10,086)		( 21,503)		( 219,107)		( 291,898)
At 31 December 2024	146,517		0		52,856		339,001		538,374
Accumulated depreciation
At 01 January 2024	24,732		7,821		16,393		329,389		378,335
Charge for the financial year	3,107		0		4,269		39,169		46,545
Disposals	( 26,618)		( 7,821)		( 14,635)		( 217,817)		( 266,891)
At 31 December 2024	1,221		0		6,027		150,741		157,989
Net book value
At 31 December 2024	145,296		0		46,829		188,260		380,385
At 31 December 2023	16,470		2,265		23,300		163,725		205,760

5. Debtors

	2024		2023
	£		£
Trade debtors	116,755		248,871
Other debtors	174,001		133,912
	290,756		382,783

6. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	922,593		1,425,178

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	10,000		10,000
Trade creditors	75,295		48,839
Amounts owed to Group undertakings	4,913		0
Taxation and social security	48,169		127,463
Obligations under finance leases and hire purchase contracts	0		6,367
Other creditors	1,057,674		1,328,992
	1,196,051		1,521,661

8. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	4,167		14,167
Obligations under finance leases and hire purchase contracts	0		2,426
Other creditors	143,097		238,696
	147,264		255,289

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
20 Ordinary A Shares shares of £ 1.00 each	20		20
67 Ordinary B Shares shares of £ 1.00 each	67		67
	87		87

10. Financial commitments

Commitments

Capital commitments are as follows:

	2024		2023
	£		£
Contracted for but not provided for:
Other	448,000		0

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2024		2023
	£		£
within one year	96,000		0
between one and five years	352,000		0
	448,000		0

The company has committed to paying the Rent under the above terms for the period up to September 2029

Other financial commitments

11. Ultimate controlling party

Parent Company:

Luke Andrews Holdings Ltd