Company registration number 01748888 (England and Wales)
TIMOTHY LAWRENCE INSURANCE BROKERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
TIMOTHY LAWRENCE INSURANCE BROKERS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
TIMOTHY LAWRENCE INSURANCE BROKERS LTD
BALANCE SHEET
AS AT 31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
3
50
100
Investment property
4
306,182
306,182
306,232
306,282
Current assets
Debtors
5
26,415
59,906
Cash at bank and in hand
471,606
425,441
498,021
485,347
Creditors: amounts falling due within one year
6
(115,616)
(130,771)
Net current assets
382,405
354,576
Total assets less current liabilities
688,637
660,858
Provisions for liabilities
7
(3,471)
(3,471)
Net assets
685,166
657,387
Capital and reserves
Called up share capital
8
1,050
1,050
Profit and loss reserves
684,116
656,337
Total equity
685,166
657,387

The notes on pages 3 to 6 form part of these financial statements.

TIMOTHY LAWRENCE INSURANCE BROKERS LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2026
31 March 2026
- 2 -

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 25 July 2026 and are signed on its behalf by:
Mr T R Lawrence
Director
Company registration number 01748888 (England and Wales)
TIMOTHY LAWRENCE INSURANCE BROKERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -
1
Accounting policies
Company information

Timothy Lawrence Insurance Brokers Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Irongates, Elford Road, Comberford, Nr Tamworth, Staffordshire, B79 9BB.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

1.2
Turnover

Income from general insurance activities is recognised at the point where the insured is invoiced the gross premium payable. Income from life and pension business is recognised when the commission becomes receivable.

1.3
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
10% on cost
Computers
33% on cost
1.4
Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising form changes in fair value is recognised in profit or loss.

1.5
Taxation

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

Current tax

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.

1.6
Retirement benefits

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

1.7
Leases
As lessor
TIMOTHY LAWRENCE INSURANCE BROKERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 4 -

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.8

Insurance broking debtors and creditors

Insurance brokers usually act as agents in placing insurable risks of their clients with insurers and, as such, generally are not liable as principals for amounts arising from such transactions. Notwithstanding the legal relationships, debtors and creditors arising from insurance broking transactions are shown as assets and liabilities. This recognises that the insurance broker is entitled to retain the investment income on any cash flow arising from these transactions.

Debtors and creditors arising from a transaction between client and insurer (for example a premium or a claim) are recorded simultaneously. Consequently, there is a high correlation between the totals reported in respect of insurance broking debtors and insurance broking creditors.

The position of the insurance broker as an agent means that generally the credit risk is borne by the principals. There can be circumstances where the insurance broker acquires credit risk, through statute or through the act or omission of the insurance broker or one of the principals. There is much legal uncertainty surrounding the circumstances and the extent of such exposures and consequently they cannot be evaluated. However the total of insurance broking debtors appearing in the balance sheet is not an indication of credit risk.

It is the normal practice for insurance brokers to settle accounts with other intermediaries, clients, insurers and market settlement bureaux on a net basis. Thus, large changes in both insurance broking debtors and creditors can result from comparatively small cash settlements. For this reason the totals of insurance broking debtors and creditors give no indication of future cash flows.

The legal status of this practice of net settlement is uncertain and in the event of insolvency it is generally abandoned.

Financial Reporting Standard number 5 "Reporting the Substance of Transactions" requires that offset of assets and liabilities should be recognised in financial statements where, and only where, the offset would survive the insolvency of the other party. Accordingly, only such offsets have been recognised in calculating insurance broking debtors and creditors.

1.9

Indemnity commission provisions

Indemnity commission provisions concern the clawback of commissions by insurance companies in the period following the inception of certain financial policies.

Indemnity commission provisions are provided in full in respect of commission clawbacks identified post year end.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
3
3
TIMOTHY LAWRENCE INSURANCE BROKERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2025 and 31 March 2026
17,267
Depreciation and impairment
At 1 April 2025
17,167
Depreciation charged in the year
50
At 31 March 2026
17,217
Carrying amount
At 31 March 2026
50
At 31 March 2025
100
4
Investment property
2026
£
Fair value
At 1 April 2025 and 31 March 2026
306,182

The investment property has been valued by the director as at 31 March 2026 on an open market valuation.

5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
25,079
57,671
Other debtors
1,336
2,235
26,415
59,906
6
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
49,534
66,920
Taxation and social security
24,845
25,676
Other creditors
41,237
38,175
115,616
130,771
TIMOTHY LAWRENCE INSURANCE BROKERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 6 -
7
Provisions for liabilities
2026
2025
£
£
Deferred tax liabilities
3,471
3,471
8
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
700
700
700
700
'A' Ordinary of £1 each
50
50
50
50
'B' Ordinary of £1 each
50
50
50
50
'C' Ordinary of £1 each
250
250
250
250
1,050
1,050
1,050
1,050
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