Isca Barum Insurance Brokers Ltd - Accounts to registrar (filleted) - small 18.2
Isca Barum Insurance Brokers Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Isca Barum Insurance Brokers Ltd |
| Unaudited Financial Statements for the Year Ended 31 March 2018 |
| Isca Barum Insurance Brokers Ltd (Registered number: 02713714) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Isca Barum Insurance Brokers Ltd |
| Company Information |
| for the Year Ended 31 March 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 3 Southernhay West |
| Exeter |
| Devon |
| EX1 1JG |
| Isca Barum Insurance Brokers Ltd (Registered number: 02713714) |
| Balance Sheet |
| 31 March 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Isca Barum Insurance Brokers Ltd (Registered number: 02713714) |
| Balance Sheet - continued |
| 31 March 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| Isca Barum Insurance Brokers Ltd (Registered number: 02713714) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| Isca Barum Insurance Brokers Ltd is a |
| Wales. The company's registered number and registered office address can be found on the |
| Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard |
| 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose |
| related party transactions with wholly owned subsidiaries within the group. |
| Exemption from preparing group accounts |
| The company is part of a small group. The company has taken advantage of the exemption provided |
| by Section 398 of the Companies Act 2006 and has not prepared group accounts. |
| Significant judgements and estimates |
| The financial statements contain the following significant judgements and estimates: |
| - Amortisation of goodwill which is explained more fully under the goodwill accounting policy. |
| -Depreciation of tangible fixed assets which is explained more fully under the tangible fixed asset |
| policy. |
| -Income Work in Progress is based upon invoices generated in the year where confirmation of sales |
| has been received, but was unpaid at the year end |
| Turnover |
| Turnover represents commissions, fees and associated income receivable in connection with the |
| arranging of insurance contracts. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Financial instruments |
| Financial instruments are classified and accounted for, according to the substance of the contractual |
| arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is |
| any contract that evidences a residual interest in the assets of the company after deducting all of its |
| liabilities. Where shares are issued, any component that creates a financial liability of the company is |
| presented as a liability in the balance sheet. The corresponding dividends relating to the liability |
| component are charged as interest expense in the profit and loss account. |
| Isca Barum Insurance Brokers Ltd (Registered number: 02713714) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss 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 for four directors and some staff. |
| Contributions are recognised in the profit and loss account in the period in which they become |
| payable in accordance with the rules of the scheme. |
| Insurance debtors and creditors |
| Trade debtors and creditors include respectively the insurance amounts due from or to each party |
| with whom the company trades in the normal course of business. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Isca Barum Insurance Brokers Ltd (Registered number: 02713714) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2017 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 March 2018 | ( |
) |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| and accrued income |
| Amounts owed by group undertakings |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors | 8,085 | 9,265 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans - 1-2 years |
| Isca Barum Insurance Brokers Ltd (Registered number: 02713714) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Bank overdraft | 64,846 | 116,230 |
| The company has in place both a debenture deed and a mortgage deed with Lloyds Bank PLC for |
| securing all monies due to them. |
| 10. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard |
| 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose |
| related party transactions with wholly owned subsidiaries within the group. |
| During the year each director had a loan account with the company. At the balance sheet date the |
| amount due to the company was £nil (2017 £nil). |
| 11. | CONTROL |
| The ultimate parent entity of the company is Fidelius Corporate Risk Consultants Limited, a company |
| registered in England and Wales. |
| It's registered office address is: |
| Stratus House |
| Emperor Way |
| Exeter Business Park |
| Exeter |
| Devon |
| EX1 3QS |
| The group is exempt from preparing group accounts. |
| The ultimate controlling parties are the directors of Fidelius Corporate Risk Consultants Limited. |