REGISTERED NUMBER: 10317065 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CLARKE WILLIAMS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B Etchells

A L Etchells

M J Gamble

H M J Morley-Clarke

S B M Williams

SECRETARY:

M J Gamble

REGISTERED OFFICE:

Bluebell Court

Sovereign Way

Tonbridge

TN9 1FU

REGISTERED NUMBER:

10317065 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor

Medway Bridge House

1-8 Fairmeadow

Maidstone

Kent

ME14 1JP

FIXED ASSETS

Intangible assets

4

169,793

207,803

Tangible assets

5

-

-

169,793

207,803

CURRENT ASSETS

Debtors

6

508,545

421,970

Cash at bank

230,398

332,405

738,943

754,375

CREDITORS

Amounts falling due within one year

7

780,367

829,511

NET CURRENT LIABILITIES

(41,424

)

(75,136

)

TOTAL ASSETS LESS CURRENT LIABILITIES

128,369

132,667

CAPITAL AND RESERVES

Called up share capital

35,000

35,000

Retained earnings

93,369

97,667

SHAREHOLDERS' FUNDS

128,369

132,667

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 and authorised for issue by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

M J Gamble - Director

1.	STATUTORY INFORMATION

Clarke Williams Ltd 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.

The principal activity of the company in the period under review was that of insurance intermediary.

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.

Going concern

Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive cash balances, reserves and no long term liabilities.

Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Related party exemption

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.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue relates to brokerage and commission income accounted for in the year in which the related policies are written or renewed, after adjustment for lapsed or terminated policies.

Intangible assets

Intangible assets are initially measured at cost. Subsequent to initial recognition, intangibles are measured at cost less accumulated amortisation and accumulated impairment losses. Intangibles are amortised on a straight line basis to the profit and loss account over their useful economic life of 10 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

-

25% on cost

Office equipment

-

20% on cost

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 or receivable 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.

Insurance broking/intermediary assets and liabilities

Insurance brokers and intermediaries usually act as agents in placing the insurable risks of their clients with insurers and, as such, generally are not liable as principals for amounts arising from such transactions. Notwithstanding these legal relationships, debtors and creditors arising from insurance broking/intermediary transactions are shown as assets and liabilities. This recognises that the insurance broker/intermediary is entitled to retain the investment income on any cashflows arising from these transactions. Debtors and creditors arising between the broker/intermediary and insurers (eg a premium or a claim) are recorded simultaneously. Consequently, there is a high level of correlation between the totals reported in respect of insurance broking/intermediary debtors and insurance broking/intermediary creditors.

The position of the insurance broker/intermediary as agent means that generally the credit risk is borne by the principals. There can be circumstances where the insurance broker/intermediary acquired credit risk through statute, of through the act or omission of the insurance broker/intermediary or one of the principals. There is much legal uncertainty surrounding the circumstances and the extent of such exposures and consequently they cannot be evaluated. However, the total of insurance broking/intermediary debtors appearing in the balance sheet is not an indication of credit risk. It is normal practice for insurance brokers/intermediaries to settle accounts with other intermediaries, clients, insurers and market settlement bureau on a net basis. Thus, large changes in both insurance broking/intermediary debtors and creditors can result from comparatively small cash settlements. For this reason, the totals of insurance broking/intermediary debtors and creditors give no indication of future cashflows.

The legal status of this practice of net settlement is uncertain and in the event of an insolvency it is generally abandoned. Financial Reporting Standard 102 requires that offset of assets and liabilities should be recognised in financial statements where, and only where, the offset would survive the insolvency of the other party. Accordingly, only such offsets have been recognised in calculating insurance broking/intermediary debtors and creditors.

Debtors

Short term debtors are measured at transaction price, less any impairment.

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 significant risk of change in value.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

Cost

At 1 January 2024

and 31 December 2024

380,097

Amortisation

At 1 January 2024

172,294

Charge for year

38,010

At 31 December 2024

210,304

Net book value

At 31 December 2024

169,793

At 31 December 2023

207,803

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 January 2024

and 31 December 2024

9,936

Depreciation

At 1 January 2024

and 31 December 2024

9,936

Net book value

At 31 December 2024

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

484,765

396,606

Other debtors

23,780

25,364

508,545

421,970

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

560,600

518,139

Amounts owed to group undertakings

184,989

249,814

Taxation and social security

22,403

48,894

Other creditors

12,375

12,664

780,367

829,511

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

26,021

38,535

Between one and five years

32,816

32,939

58,837

71,474

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. At the year date, the company owed £2,113 (2023: £2,776) to the fund.

10.	INSURANCE BUSINESS MONIES

The company uses a separately designated insurance broking account for the receipt and payment of all insurance business monies. Included in cash at bank and in hand was £170,220 (2023: £202,755) relating to these balances.