Mid Cornwall Brokers Ltd Accounts






Mid Cornwall Brokers Ltd

	Company No. 09990260
		Information for Filing with The Registrar
		30 June 2025

The Directors present their report and the accounts for the year ended 30 June 2025.

Principal activities
The principal activity of the company during the year under review was general insurance brokers.




Directors

The Directors who served at any time during the year were as follows:

I. Bennett
M.S.T. Old
P. Old
K.A. Razzell
C.A. Small





































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

P. Old
Director
02 December 2025

at	30 June 2025
Company No.		09990260	Notes	2025	2024
				£	£
Fixed assets
	Intangible assets		4	20,000	-
	Tangible assets		5	19,441	10,836


				39,441	10,836
Current assets

	Debtors		6	375,393	385,221

	Cash at bank and in hand			303,402	158,591
				678,795	543,812
Creditors: Amount falling due within one year			7	(131,862)	(114,287)
Net current assets				546,933	429,525
Total assets less current liabilities				586,374	440,361

Provisions for liabilities
	Deferred taxation			(5,152)	(2,872)

Net assets				581,222	437,489

Capital and reserves
	Called up share capital			6,020	6,020



	Profit and loss account		9	575,202	431,469

Total equity				581,222	437,489



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 02 December 2025 and signed on its behalf by:
P. Old
Director
02 December 2025

for the year ended 30 June 2025

General information

Mid Cornwall Brokers Ltd is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 09990260

Its registered office is:

Clarence House

Truro Road

Lanivet

Bodmin

PL30 5HF

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
value added tax and other sales taxes.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

10% Straight line

Furniture, fittings and equipment

0-20% Straight line

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2025	2024
			Number	Number
		The average monthly number of employees (including directors) during the year was:	19	19

4	Intangible fixed assets
			Goodwill	Total
			£	£
		Cost

		Additions	25,000	25,000

		At 30 June 2025	25,000	25,000
		Amortisation and impairment

		Charge for the year	5,000	5,000


		At 30 June 2025	5,000	5,000
		Net book values
		At 30 June 2025	20,000	20,000

5	Tangible fixed assets
			Plant and machinery	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 July 2024	6,234	23,358	29,592
		Additions	13,164	-	13,164



		At 30 June 2025	19,398	23,358	42,756
		Depreciation
		At 1 July 2024	5,513	13,243	18,756
		Charge for the year	1,429	3,130	4,559



		At 30 June 2025	6,942	16,373	23,315
		Net book values
		At 30 June 2025	12,456	6,985	19,441
		At 30 June 2024	721	10,115	10,836

6	Debtors
			2025	2024
			£	£
		Trade debtors	174,991	171,131

		Corporation tax recoverable	6,119	6,119



		Other debtors	188,032	201,771
		Prepayments and accrued income	6,251	6,200
			375,393	385,221

7	Creditors:
		amounts falling due within one year
			2025	2024
			£	£




		Trade creditors	2,028	1,733

		Taxes and social security	80,281	62,770
		Loans from directors	4,547	10,068
		Other creditors	35,852	32,808
		Accruals and deferred income	9,154	6,908
			131,862	114,287

Share Capital

6,020 Ordinary shares of £1 each.

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

10	Advances and credits to directors
			2025
			£
		At 1 July 2024	17,352

		Amounts repaid in the period	6,247


		At 30 June 2025	11,104

Related party disclosures

Transactions with related parties

During the year, rent for office space was paid to Outcity Limited, a related party by virtue of common control. Rental payments of £27,900 (2024: £26,400) were charged on normal commercial terms and at market value.

During the year, the company had an outstanding loan receivable from Outcity Limited. Interest of £10,906 (2024: £4,692) was charged during the year on normal commercial terms.

At the year end, the loan balance outstanding was £164,881 (2024: £179,187). This amount is included within other debtors. The loan is unsecured.