REGISTERED NUMBER: 07491066 (England and Wales)

ARO UNDERWRITING GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2024

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J M Bright

REGISTERED OFFICE:

3, The Old Yard

Rectory Lane

Brasted

Westerham

Kent

TN16 1JP

REGISTERED NUMBER:

07491066 (England and Wales)

ACCOUNTANTS:

Hilden Park Accountants Limited

Hilden Park House

79 Tonbridge Road

Hildenborough

Tonbridge

Kent

TN11 9BH

FIXED ASSETS

Intangible assets

4

889,859

642,352

Tangible assets

5

3,622

3,700

Investments

6

5

5

893,486

646,057

CURRENT ASSETS

Debtors

657,541

502,634

Cash at bank

51,567

60,331

709,108

562,965

CREDITORS

Amounts falling due within one year

279,683

203,027

NET CURRENT ASSETS

429,425

359,938

TOTAL ASSETS LESS CURRENT LIABILITIES

1,322,911

1,005,995

CREDITORS

Amounts falling due after more than one year

760,924

1,090,915

NET ASSETS/(LIABILITIES)

561,987

(84,920

)

CAPITAL AND RESERVES

Called up share capital

4,204

2,222

Retained earnings

557,783

(87,142

)

SHAREHOLDERS' FUNDS

561,987

(84,920

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

J M Bright - Director

1.	STATUTORY INFORMATION

Aro Underwriting Group 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the value of the consideration received or receivable, net of discounts and value added taxes, from the rendering of insurance broking services. Turnover is recognised according to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the duration of the contract with the period in the year that the service was provided.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of between three and five years.

Tangible fixed assets

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

Office equipment

-

33% straight line

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 31 December 2023

1,710,923

Additions

486,387

At 30 December 2024

2,197,310

AMORTISATION

At 31 December 2023

1,068,571

Amortisation for year

238,880

At 30 December 2024

1,307,451

NET BOOK VALUE

At 30 December 2024

889,859

At 30 December 2023

642,352

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 31 December 2023

31,602

Additions

2,491

At 30 December 2024

34,093

DEPRECIATION

At 31 December 2023

27,902

Charge for year

2,569

At 30 December 2024

30,471

NET BOOK VALUE

At 30 December 2024

3,622

At 30 December 2023

3,700

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 31 December 2023

and 30 December 2024

5

NET BOOK VALUE

At 30 December 2024

5

At 30 December 2023

5

7.	LEASING AGREEMENTS

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

30/12/24

30/12/23

£

£

Within one year

-

10,745

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 December 2024 and 30 December 2023:

30/12/24

30/12/23

£

£

J M Bright

Balance outstanding at start of year

13,469

13,500

Amounts advanced

56,372

351

Amounts repaid

(804

)

(382

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

69,037

13,469

Interest was charged by the company to the director at the official rate for periods when the balance exceeded £10,000.

9.	RELATED PARTY DISCLOSURES

During the year the company entered into the following transactions with related parties and the amounts outstanding at the year end were as shown:

Subordinated loans:

Hebrides Investments No 1 Ltd, a shareholder, was owed £311,112 (2023: £578,200).

Executive shareholders were owed £NIL (2023: £3,000).

Heritage Management Holdings Limited, a shareholder, was owed £413,200 (2023: £196,112).

Unsubordinated loans:

Heritage Management Holdings Limited was owed £7,466 (2023: £227,466) for which no interest is accruing.

Avantis Ltd, a shareholder, was owed £NIL (2023: £13,724). No interest is due on the loan which is repayable on demand.

The higher of the current year or prior year balances shown were the maximum balances during the year.