REGISTERED NUMBER: 03863788 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2024

for

Friar Street Insurance Consultants

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mr Andrew Field

Mrs Sarah Field

Secretary:

Mrs Sarah Field

Registered office:

Morningside

11a Graham Road

Malvern

Worcestershire

WR14 2HR

Registered number:

03863788 (England and Wales)

Accountants:

Allan Brown (Accountancy & Taxation

Services) Ltd

18/22 Church Street

Malvern

Worcestershire

WR14 2AY

Fixed assets

Tangible assets

4

2,555

2,390

Investment property

5

64,131

59,447

66,686

61,837

Current assets

Stocks

400

400

Debtors

6

1,371

2,200

Cash at bank and in hand

114,873

113,721

116,644

116,321

Creditors

Amounts falling due within one year

7

8,104

11,512

Net current assets

108,540

104,809

Total assets less current liabilities

175,226

166,646

Provisions for liabilities

557

572

Net assets

174,669

166,074

Capital and reserves

Called up share capital

2

2

Retained earnings

174,667

166,072

Shareholders' funds

174,669

166,074

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:

Mr Andrew Field - Director

1.	STATUTORY INFORMATION

Friar Street Insurance Consultants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

The Financial Statements are prepared in accordance with applicable accounting standards and are shown below.

Turnover

Turnover represents net commissions and sales of services both from general insurance excluding discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and at variable rates on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Operating leases

Operating leases (those which relate to the continual hire or charge for the use of property or assets without passing of ownership) are charged entirely to costs as the agreed amount falls due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

48,578

Additions

1,143

At 31 December 2024

49,721

DEPRECIATION

At 1 January 2024

46,188

Charge for year

978

At 31 December 2024

47,166

NET BOOK VALUE

At 31 December 2024

2,555

At 31 December 2023

2,390

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

59,447

Revaluations

4,684

At 31 December 2024

64,131

NET BOOK VALUE

At 31 December 2024

64,131

At 31 December 2023

59,447

Fair value at 31 December 2024 is represented by:

£

Valuation in 2017

658

Valuation in 2018

(2,519

)

Valuation in 2019

1,861

Valuation in 2020

461

Valuation in 2021

3,867

Valuation in 2022

(4,639

)

Valuation in 2023

5,448

Valuation in 2024

4,684

Cost

54,310

64,131

If the listed investments had not been revalued they would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

64,131

59,447

Investment property was valued on an open market basis basis on 31 December 2024 by reference to the stock market values. .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

1,371

2,200

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

2

4,570

Taxation and social security

7,348

5,060

Other creditors

754

1,882

8,104

11,512