REGISTERED NUMBER: 07636523 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Arrowscroft Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P J Heath

A P Heath

S D E Heath

REGISTERED OFFICE:

Arrowscroft

142 Nantwich Road

Crewe

Cheshire

CW2 6BG

REGISTERED NUMBER:

07636523 (England and Wales)

ACCOUNTANTS:

Banks Sheridan

Datum House

Electra Way

Crewe

Cheshire

CW1 6ZF

FIXED ASSETS

Intangible assets

5

-

3,430

Tangible assets

6

3,295

32,145

3,295

35,575

CURRENT ASSETS

Debtors: amounts falling due within one year

7

250,939

150,616

Debtors: amounts falling due after more than one year

7

269,378

50,000

Cash at bank

877,435

26,041

1,397,752

226,657

CREDITORS

Amounts falling due within one year

8

(351,510

)

(81,236

)

NET CURRENT ASSETS

1,046,242

145,421

TOTAL ASSETS LESS CURRENT LIABILITIES

1,049,537

180,996

CREDITORS

Amounts falling due after more than one year

9

-

(15,583

)

PROVISIONS FOR LIABILITIES

12

(494

)

(11,291

)

NET ASSETS

1,049,043

154,122

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Retained earnings

1,029,043

134,122

SHAREHOLDERS' FUNDS

1,049,043

154,122

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

S D E Heath - Director

1.	STATUTORY INFORMATION

John Heath (UK) Limited ('The Company') is primarily engaged in insurance broking. It's operations are regulated by the Financial Conduct Authority.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the principal place of business and of the registered office is Arrowscroft, 142 Nantwich Road, Crewe, Cheshire, CW2 6BG. The registered number can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Summary of significant accounting policies

The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation

The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. No material uncertainties that may cast doubt about the ability of the company to continue as a going concern have been identified by the director.

Therefore, the director consider it appropriate to prepare the financial statements on the going concern basis.

Turnover

Revenue (described as turnover) is measured at the fair value of net commissions received or receivable during the year, after deducting a provision for potential clawback

Goodwill and other intangible fixed assets

Goodwill and intellectual property comprise the amount paid in connection with the acquisition of a business in 2015. Intangible fixed assets are stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is charged to administrative expenses in the Statement of Comprehensive Income. Amortisation is calculated using the straight line method, to allocate the depreciable amount of the assets over their estimated useful lives as follows:

Goodwill

- 8 years

Intellectual property

- 8 years

Computer software

- 5 years

Website costs

- 5 years

All goodwill and intangible fixed assets are subject to an annual review for diminution in value. The useful economic lives are considered by the directors to be consistent with the period in which benefits are expected to accrue

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates so as to write off their cost less residual amounts over their estimated useful economic lives. Assets are also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the assets carrying amount exceeds its recoverable amount.

Computer equipment and fixtures

- 15% on reducing balance

The residual values and useful lives of assets are reviewed and adjusted if appropriate at each statement of financial position date.

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 end of the financial year.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the end of the financial year.

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.

Foreign currencies

The company's functional and presentation currency is pound sterling.

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the date of the transactions. At each statement of financial position date foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the statement of financial position date exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income.

Hire purchase and leasing commitments

Leases are classified as hire purchase contracts or finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the company.

All other leases which do not transfer all the risks and rewards of ownership are classified as operating leases.

Payments made under operating leases are charged to the income statement 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.

The company provides a range of benefits to employees, including annual bonus arrangements and paid holiday arrangements.

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which service is received.

The company operates an annual bonus plan for certain employees. An expense is recognised in the Statement of Comprehensive Income when the company has a legal or constructive obligation to make payments under the plan as a result of past events and a reliable estimate of the obligation can be made.

Impairment of assets

Assets not measured at fair value are reviewed for any indications that the asset may be impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

5.	INTANGIBLE FIXED ASSETS

Intellectual

Computer

Website

Goodwill

property

software

costs

Totals

£

£

£

£

£

COST

At 1 January 2024

250,000

251,149

4,209

105,144

610,502

Additions

-

(251,149

)

-

660

(250,489

)

Disposals

(250,000

)

-

(4,209

)

(105,804

)

(360,013

)

At 31 December 2024

-

-

-

-

-

AMORTISATION

At 1 January 2024

250,000

251,149

4,209

101,714

607,072

Amortisation for year

-

(251,149

)

-

1,735

(249,414

)

Eliminated on disposal

(250,000

)

-

(4,209

)

(103,449

)

(357,658

)

At 31 December 2024

-

-

-

-

-

NET BOOK VALUE

At 31 December 2024

-

-

-

-

-

At 31 December 2023

-

-

-

3,430

3,430

6.	TANGIBLE FIXED ASSETS

Computer

equipment

and

fixtures

£

COST

At 1 January 2024

85,297

Additions

750

Disposals

(81,507

)

At 31 December 2024

4,540

DEPRECIATION

At 1 January 2024

53,152

Charge for year

3,404

Eliminated on disposal

(55,311

)

At 31 December 2024

1,245

NET BOOK VALUE

At 31 December 2024

3,295

At 31 December 2023

32,145

7.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

444

41,179

Other debtors

250,495

109,437

250,939

150,616

Amounts falling due after more than one year:

Other debtors

269,378

50,000

Aggregate amounts

520,317

200,616

Amounts owed by related parties are unsecured, interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 10)

-

36,873

Trade creditors

600

4,773

Taxation and social security

243,290

34,420

Other creditors

107,620

5,170

351,510

81,236

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 10)

-

15,583

10.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

25,873

Bank loans

-

11,000

-

36,873

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

15,583

The bank loan was repaid in full in the year following the sale of the trade and goodwill of the company.

11.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdraft

-

25,873

The bank overdraft is personally guaranteed by the directors.

12.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

494

7,634

Other provisions

-

3,657

494

11,291

Deferred

Commission

tax

clawback

£

£

Balance at 1 January 2024

7,634

3,657

Credit to Income Statement during year

(7,140

)

(3,657

)

Balance at 31 December 2024

494

-

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

P J Heath

Balance outstanding at start of year

-

9,268

Amounts repaid

-

(9,268

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

A P Heath

Balance outstanding at start of year

-

9,268

Amounts repaid

-

(9,268

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

S D E Heath

Balance outstanding at start of year

-

9,268

Amounts repaid

-

(9,268

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

During the year interest receivable of £nil (2023: £314) has been charged in respect of the directors' loans.

During the year rent paid to a partnership connected to the directors by the company amounted to £8,800 (2023: £13,200).

At 1 December 2024 there was an amount of £25,419 (2023: £nil) outstanding from a person connected to the director and this is included within other debtors: amounts falling due after more than one year.

During the year interest receivable of £351 (2023: £nil) has been charged in respect of the above loan.

14.	RELATED PARTY DISCLOSURES

Transactions with related parties during the period and balances outstanding at the end of the reporting period were as follows:

Related parties:

2024

2023

£

£

Amounts due from entities

243,959

155,233