REGISTERED NUMBER: 06451557 (England and Wales)

Report of the Director and

Audited Cessation Financial Statements

for the Period

1 July 2024 to 31 December 2024

for

UK & Global Insurance Brokers Limited

Page

Company Information

1

Report of the Director

2

Report of the Independent Auditors

4

Statement of Income and Retained Earnings

8

Balance Sheet

9

Notes to the Financial Statements

10

DIRECTOR:

D G Allori

REGISTERED OFFICE:

Old Printers Yard

156 South Street

Dorking

Surrey

RH4 2HF

BUSINESS ADDRESS:

10th Floor

2 Minster Court

London

EC3R 7BB

REGISTERED NUMBER:

06451557 (England and Wales)

AUDITORS:

Bullimores LLP

Chartered Accountants

& Registered Auditor

Old Printers Yard

156 South Street

Dorking

Surrey

RH4 2HF

The director presents his report with the financial statements of the company for the period 1 July 2024 to 31 December 2024.

CESSATION OF TRADING

The company ceased trading on 8 October 2024.

PRINCIPAL ACTIVITY

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

REVIEW OF BUSINESS

DIRECTOR

J D Garratt held office from 1 July 2024 until after 31 December 2024 but prior to the date of this report.

D G Allori was appointed as a director after 31 December 2024 but prior to the date of this report.

Insurance has been effected to indemnify any director or officer against liability incurred by him/her in relation to the company.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

D G Allori - Director

12 December 2025

Opinion

We have audited the financial statements of UK & Global Insurance Brokers Limited (the 'company') for the period ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the period then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other matters

In the previous accounting period the directors of the company took advantage of the audit exemption under CA 2006, s. 477. Therefore, the prior period financial statements were not subject to audit but are presented for comparative purposes.

Other information

The director is responsible for the other information. The other information comprises the information in the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Director has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page two, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant which are directly relevant to specific assertions in the financial statements are those related to the reporting frameworks (FRS102, the Companies Act 2006 and the relevant tax compliance regulations in the UK).

We understood how the company is complying with those legal and regulatory frameworks by making enquiries of

management.

We did not identify any matters relating to non-compliance with laws and regulations or relating to fraud.

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur by discussions with the directors to understand areas where they considered there was susceptibility to fraud. We also considered pressures on the directors to meet any external pressures in reporting the financial results of the company.

Audit procedures performed by the engagement team on the areas where fraud might occur included:

-

evaluation of management's internal processes designed to prevent and detect irregularities.

-

journals entries testing, with a focus on manual entries and entries determined to be large or relating to unusual transactions.

-

review of revenue data to detect unusual sales transactions.

Assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team's:

-

understanding of, and practical experience with audit engagements of a similar nature and complexity through the appropriate training and participation.

-

knowledge of the industry in which the company operates.

-

understanding of the legal and regulatory requirements specific to the company.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Nicholas Boot (FCA) (Senior Statutory Auditor)

for and on behalf of Bullimores LLP

Chartered Accountants

& Registered Auditor

Old Printers Yard

156 South Street

Dorking

Surrey

RH4 2HF

23 December 2025

TURNOVER

14,887

395,160

Administrative expenses

79,444

232,531

(64,557

)

162,629

Other operating income

35

-

OPERATING (LOSS)/PROFIT

(64,522

)

162,629

Interest receivable and similar income

1

7

(64,521

)

162,636

Amounts written off investments

(27,406

)

-

(37,115

)

162,636

Interest payable and similar expenses

9,397

21,602

(LOSS)/PROFIT BEFORE TAXATION

(46,512

)

141,034

Tax on (loss)/profit

(18,099

)

35,803

(LOSS)/PROFIT FOR THE FINANCIAL PERIOD

(28,413

)

105,231

Retained earnings at beginning of period

88,949

129,718

Dividends

(60,565

)

(146,000

)

RETAINED EARNINGS AT END OF PERIOD

(29

)

88,949

FIXED ASSETS

Tangible assets

4

-

12,412

CURRENT ASSETS

Debtors

5

71

431,739

Cash at bank

-

287,905

71

719,644

CREDITORS

Amounts falling due within one year

6

-

561,000

NET CURRENT ASSETS

71

158,644

TOTAL ASSETS LESS CURRENT LIABILITIES

71

171,056

CREDITORS

Amounts falling due after more than one year

7

-

(79,558

)

PROVISIONS FOR LIABILITIES

-

(2,449

)

NET ASSETS

71

89,049

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(29

)

88,949

71

89,049

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 12 December 2025 and were signed by:

D G Allori - Director

1.	STATUTORY INFORMATION

UK & Global 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.

Going Concern

The financial statements have been prepared on the going concern basis, in accordance with the Companies Act 2006 and applicable accounting standards in the United Kingdom. In considering the going concern assumption, the directors have considered the support of its holding company which the directors are confident has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

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

Tangible fixed assets

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

Fixtures, fittings & equipment

-

15% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeded and carrying value of the asset, and is credited or charged to profit or loss.

Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets in reviewed at each reporting end date and reduced to the extent that is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Pension costs and other post-retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at the present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in the profit or loss in the period in which it arises.

Employee benefits

The cost of short term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

& equipment

£

COST

At 1 July 2024

41,652

Disposals

(41,652

)

At 31 December 2024

-

DEPRECIATION

At 1 July 2024

29,240

Eliminated on disposal

(29,240

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 30 June 2024

12,412

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

30.6.24

£

£

Trade debtors

-

302,859

Other debtors

-

128,880

Tax

71

-

71

431,739

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

30.6.24

£

£

Bank loans and overdrafts

-

46,616

Trade creditors

-

473,227

Tax

-

36,031

Other creditors

-

5,126

-

561,000

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

30.6.24

£

£

Bank loans 1-2 years

-

79,558

8.	LEASING AGREEMENTS

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

31.12.24

30.6.24

£

£

Within one year

-

1,889

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

A loan of £60,565 owed by J.D. Garratt, a director, to the company at 30 June 2024 was repaid by way of dividends and salaries in the period..

10.	ULTIMATE PARENT COMPANY

The immediate parent company is Seventeen Group Limited, registered in the UK company number 01593917. Copies of consolidated financial statements can be obtained from the registered office;

Old Printers Yard, 156 South Street

Dorking

Surrey

RH4 2HF

At 31 December 2024 the ultimate parent undertaking was Seventeen Holdings Ltd, a company registered in the UK with the company number 12261344.

Subsequent to the year end the ultimate parent company is Roman New Topco Limited, registered in the UK company number 16286617. No financial statements are yet due for this company.

11.	TRANSFER OF TRADE

On 8 October 2024 the company transferred its trade and insurance related assets and liabilities to James Hallam Limited, a wholly owned subsidiary of Seventeen Group Limited; other assets and liabilities were transferred to Seventeen Group Limited, the company's immediate parent company

12.	SECURED DEBTS

The company is a party to cross company guarantees in favour of bank and loan creditors to secure the liabilities of the Group headed by its parent company.