Town & City Secretaries Ltd - Limited company accounts 18.1.1

REGISTERED NUMBER: 06247712 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2017

FOR

TOWN & CITY SECRETARIES LTD

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

P W Bigge

Mrs S E Johnson

SECRETARY:

Mrs S E Johnson

REGISTERED OFFICE:

2nd Floor North Point

Faverdale North

Darlington

Co. Durham

DL3 0PH

REGISTERED NUMBER:

06247712 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

The directors present their report with the financial statements of the company for the year ended 31st December 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the placing and administration of insurance

policies on behalf of client organisations.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2017 to the date of this

report.

P W Bigge

Mrs S E Johnson

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:

P W Bigge - Director

5th July 2018

TURNOVER

60,843

63,638

Administrative expenses

1,985

2,175

58,858

61,463

Other operating income

3,994

-

OPERATING PROFIT

62,852

61,463

Interest receivable and similar income

15

35

PROFIT BEFORE TAXATION

62,867

61,498

Tax on profit

3

12,100

12,300

PROFIT FOR THE FINANCIAL YEAR

50,767

49,198

CURRENT ASSETS

Debtors

5

12,832

11,074

Cash at bank

469

1,827

13,301

12,901

CREDITORS

Amounts falling due within one year

6

13,300

12,900

NET CURRENT ASSETS

1

TOTAL ASSETS LESS CURRENT
LIABILITIES

1

CAPITAL AND RESERVES

Called up share capital

7

1

SHAREHOLDERS' FUNDS

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2017 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 5th July 2018 and were signed on its behalf by:

P W Bigge - Director

1.	STATUTORY INFORMATION

Town & City Secretaries Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents insurance commission receivable.

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.

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31/12/17

31/12/16

£

Current tax:

UK corporation tax

12,100

12,300

Tax on profit

12,100

12,300

4.

DIVIDENDS

31/12/17

31/12/16

£

Ordinary share of £1

Final

50,767

49,198

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/17

31/12/16

£

Amount due from Parent Company

12,832

11,074

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/17

31/12/16

£

Tax

12,100

12,300

Accrued expenses

1,200

600

13,300

12,900

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/17

31/12/16

value:

£

1

Ordinary

£1

1

8.

RESERVES

Retained

earnings

£

Profit for the year

50,767

Dividends

(50,767

)

At 31st December 2017

-

9.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 31st December 2017 (2016 - nil).

10.	CAPITAL COMMITMENTS

31/12/17

31/12/16

£

Contracted but not provided for in the

financial statements

-

11.	ULTIMATE CONTROLLING PARTY

The parent company is Town & City Management Ltd, a company registered in England and Wales. Town &

City Management Ltd owns the whole of the issued share capital in the company.

The ultimate controlling party is Mr P W Bigge who jointly owns, with his wife, the whole of the issued share

capital in Town & City Management Ltd. Mr P W Bigge and Mrs S E Johnson are also directors of Town & City

Management Ltd.