Camberford Law 2008 Limited - Limited company accounts 18.2

REGISTERED NUMBER: 06511574 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Period 1 July 2017 to 31 March 2018

for

Camberford Law 2008 Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

S J Carter

S L Anyango

S J Collier

C A Nathan

SECRETARY:

A S Hunter

REGISTERED OFFICE:

2nd Floor

50 Fenchurch Street

London

EC3M 3JY

REGISTERED NUMBER:

06511574 (England and Wales)

AUDITORS:

Thornton Springer LLP

Chartered Accountants

Statutory Auditor

67 Westow Street

London

United Kingdom

SE19 3RW

The directors present their strategic report for the period 1 July 2017 to 31 March 2018.

REVIEW OF BUSINESS

There was no income receivable during the period under review.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's only expose to any significant risks is its liquidly risk to pay its creditors.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available to pay its creditors, Camberford Law 2008

Limited must ensure its trading subsidiary Camberford Law PLC is solvent and can meet the funding requirement of the

loan.

ON BEHALF OF THE BOARD:

S J Carter - Director

10 December 2018

The directors present their report with the financial statements of the company for the period 1 July 2017 to 31 March 2018.

DIVIDENDS

No dividends will be distributed for the period ended 31 March 2018.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2017 to the date of this report.

S J Carter

S L Anyango

Other changes in directors holding office are as follows:

D G Ottewill - resigned 1 February 2018

P A Cooper - resigned 1 February 2018

S A Ross - appointed 1 February 2018

S J Collier - appointed 1 February 2018

C A Nathan was appointed as a director after 31 March 2018 but prior to the date of this report.

S A Ross ceased to be a director after 31 March 2018 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements

in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors

have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not

approve the financial statements unless they are 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 directors

are required to:

-	select suitable accounting policies and then apply them consistently;

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

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

The directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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 directors are 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 each director has taken all the steps that he or she ought to

have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that

the company's auditors are aware of that information.

AUDITORS

The auditors, Thornton Springer LLP, will be proposed for re-appointment at the forthcoming Annual General

Meeting.

ON BEHALF OF THE BOARD:

S J Carter - Director

10 December 2018

Opinion

We have audited the financial statements of Camberford Law 2008 Limited (the 'company') for the period ended

31 March 2018 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of

Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 March 2018;

-	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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to

you where:

-	the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

-

the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic

Report and the Report of the Directors, 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 there is a material misstatement in the financial

statements or a material misstatement of the other information. 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.

Opinion 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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have 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 Strategic Report or the Report of the Directors.

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 directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are

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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have 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.

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.

S A Kaye (Senior Statutory Auditor)

for and on behalf of Thornton Springer LLP

Chartered Accountants

Statutory Auditor

67 Westow Street

London

United Kingdom

SE19 3RW

10 December 2018

TURNOVER

-

-

Administrative expenses

-

(5,000

)

OPERATING LOSS

5

-

(5,000

)

Income from fixed asset investments

-

180,000

PROFIT BEFORE TAXATION

-

175,000

Tax on profit

6

-

-

PROFIT FOR THE FINANCIAL PERIOD

-

175,000

PROFIT FOR THE PERIOD

-

175,000

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

-

175,000

FIXED ASSETS

Investments

7

10,688,548

10,688,548

CREDITORS

Amounts falling due within one year

8

(10,340,318

)

(10,340,318

)

NET CURRENT LIABILITIES

(10,340,318

)

(10,340,318

)

TOTAL ASSETS LESS CURRENT LIABILITIES

348,230

348,230

CAPITAL AND RESERVES

Called up share capital

9

100,000

100,000

Retained earnings

10

248,230

248,230

SHAREHOLDERS' FUNDS

348,230

348,230

The financial statements were approved by the Board of Directors on 10 December 2018 and were signed on its behalf by:

S J Carter - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 July 2016

100,000

73,230

173,230

Changes in equity

Total comprehensive income

-

175,000

175,000

Balance at 30 June 2017

100,000

248,230

348,230

Changes in equity

Balance at 31 March 2018

100,000

248,230

348,230

Cash flows from operating activities

Cash generated from operations

1

-

(180,000

)

Net cash from operating activities

-

(180,000

)

Cash flows from investing activities

Dividends received

-

180,000

Net cash from investing activities

-

180,000

Increase in cash and cash equivalents

-

-

Cash and cash equivalents at beginning of period

-

-

Cash and cash equivalents at end of period

-

-

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

1.7.17

to

Year Ended

31.3.18

30.6.17

£

£

Profit before taxation

-

175,000

Finance income

-

(180,000

)

-

(5,000

)

Decrease in trade and other creditors

-

(175,000

)

Cash generated from operations

-

(180,000

)

1.	STATUTORY INFORMATION

Camberford Law 2008 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

4.	EMPLOYEES AND DIRECTORS

There were no staff costs for the period ended 31 March 2018 nor for the year ended 30 June 2017.

The average number of employees during the period was as follows:

Period

1.7.17

to

Year Ended

31.3.18

30.6.17

Directors

4

4

Period

1.7.17

to

Year Ended

31.3.18

30.6.17

£

£

Directors' remuneration

-

-

5.	OPERATING LOSS

The operating loss is stated after charging:

Period

1.7.17

to

Year Ended

31.3.18

30.6.17

£

£

Auditors' remuneration

-

5,000

6.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the period ended 31 March 2018 nor for the year ended

30 June 2017.

Reconciliation of total tax charge included in profit and loss

The tax assessed for the period is the same as the standard rate of corporation tax in the UK.

Period

1.7.17

to

Year Ended

31.3.18

30.6.17

£

£

Profit before tax

-

175,000

Profit multiplied by the standard rate of corporation tax in the UK of 19% (2017 - 19%)

-

33,250

Effects of:

Franked investment income

-

(34,200

)

Losses surrendered for group relief

-

950

Total tax charge

-

-

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2017

and 31 March 2018

10,688,548

NET BOOK VALUE

At 31 March 2018

10,688,548

At 30 June 2017

10,688,548

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Camberford Law Plc

Registered office:

Nature of business: Insurance broker

%

Class of shares:

holding

Ordinary share capital

100.00

31.3.18

30.6.17

£

£

Aggregate capital and reserves

15,261,419

13,408,031

Profit for the period/year

1,842,471

1,931,626

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

30.6.17

£

£

Amounts owed to group undertakings

10,340,318

10,340,318

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

30.6.17

value:

£

£

100,000

Ordinary Shares

£1.00

100,000

100,000

10.

RESERVES

Retained

earnings

£

At 1 July 2017

248,230

Profit for the period

-

At 31 March 2018

248,230

11.	ULTIMATE PARENT COMPANY

The ultimate parent company is Global Risk Partners Limited (CO No: 08613882), registered office: 2nd Floor

50 Fenchurch Street, London, England, England, EC3M 3JY