REGISTERED NUMBER: 01025411 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Vadis Insurance Brokers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A R Davis

Ms L A Davis

SECRETARY:

Mrs P A Davis

REGISTERED OFFICE:

151 High Street

Burton-on-Trent

Staffordshire

DE14 1JE

REGISTERED NUMBER:

01025411 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

FIXED ASSETS

Tangible assets

4

300,058

306,573

Investments

5

3,342

3,342

303,400

309,915

CURRENT ASSETS

Debtors

6

160,490

157,645

Cash at bank and in hand

1,315

4,414

161,805

162,059

CREDITORS

Amounts falling due within one year

7

249,639

216,218

NET CURRENT LIABILITIES

(87,834

)

(54,159

)

TOTAL ASSETS LESS CURRENT LIABILITIES

215,566

255,756

CREDITORS

Amounts falling due after more than one year

8

30,935

36,308

NET ASSETS

184,631

219,448

CAPITAL AND RESERVES

Called up share capital

3,000

3,000

Revaluation reserve

9

182,114

185,564

Retained earnings

9

(483

)

30,884

SHAREHOLDERS' FUNDS

184,631

219,448

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

Ms L A Davis - Director

1.	STATUTORY INFORMATION

Vadis Insurance Brokers 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.

Insurance broking transactions

Turnover represents commission earned which is recognised in the profit and loss account upon the issue of a debit note or renewals notice.

Amounts owing to insurance companies in respect of premiums payable by customers of the company are included in trade creditors in the gross sum due. Commissions due on these amounts are included within trade debtors.

Premiums due from customers on insurance broking transactions and commissions owed to the company on investment business are also included within trade debtors.

Tangible fixed assets

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

Freehold land and buildings

-

2% on revaluation

Office furniture and equipment

-

20% on reducing balance

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions are charged in the profit and loss account as they are paid.

Fixed asset investments

Unlisted investments are stated at cost less provision for permanent diminution in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Office

Freehold

furniture

land and

and

buildings

equipment

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

400,000

72,021

472,021

DEPRECIATION

At 1 January 2024

96,000

69,448

165,448

Charge for year

6,000

515

6,515

At 31 December 2024

102,000

69,963

171,963

NET BOOK VALUE

At 31 December 2024

298,000

2,058

300,058

At 31 December 2023

304,000

2,573

306,573

Included in cost or valuation of land and buildings is freehold land of £ 100,000 (2023 - £ 100,000 ) which is not depreciated.

Cost or valuation at 31 December 2024 is represented by:

Office

Freehold

furniture

land and

and

buildings

equipment

Totals

£

£

£

Valuation in 2024

400,000

-

400,000

Cost

-

72,021

72,021

400,000

72,021

472,021

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

197,485

197,485

Aggregate depreciation

84,141

81,591

Value of land in freehold land and buildings

70,000

70,000

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 January 2024

and 31 December 2024

3,342

NET BOOK VALUE

At 31 December 2024

3,342

At 31 December 2023

3,342

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

65,128

67,202

Other debtors

-

348

Directors' current accounts

68,286

80,118

Prepayments

4,029

2,287

137,443

149,955

Amounts falling due after more than one year:

Tax

23,047

7,690

Aggregate amounts

160,490

157,645

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

64,881

40,310

Trade creditors

143,914

147,978

Tax

33,037

19,395

Other taxes and social security

5,219

6,301

Other creditors

728

659

Accrued expenses

1,860

1,575

249,639

216,218

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loan - 1 - 2 years

5,505

5,369

Bank loan - 2 - 5 years

17,365

16,936

Bank loan - over 5 years

8,065

14,003

30,935

36,308

2024

2023

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loan - over 5 years

8,065

14,003

9.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 January 2024

30,884

185,564

216,448

Profit for the year

33,015

33,015

Dividends

(67,832

)

(67,832

)

Depreciation adjustment

3,450

(3,450

)

-

At 31 December 2024

(483

)

182,114

181,631

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors maintain loan accounts with the company. At the balance sheet date, the amounts owing from the directors is shown in the debtors note. Interest at a rate of 2.25% has been charged on the amounts advanced.