REGISTERED NUMBER: 04107395 (England and Wales)

Financial Statements

for the Year Ended 31 December 2016

for

Binfield Commercial Insurance

Brokers Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P Binfield

REGISTERED OFFICE:

James House

153 Grosvenor Road

Aldershot

Hampshire

GU11 3EF

BUSINESS ADDRESS:

3 - 7 Wyndham Street

Aldershot

Hampshire

GU11 4NY

REGISTERED NUMBER:

04107395 (England and Wales)

ACCOUNTANTS:

Perrin & Co

James House

153 Grosvenor Road

Aldershot

Hampshire

GU11 3EF

FIXED ASSETS

Intangible assets

4

-

2,775

Tangible assets

5

6,134

7,519

6,134

10,294

CURRENT ASSETS

Debtors

6

104,630

89,686

Cash at bank

90,539

101,768

195,169

191,454

CREDITORS

Amounts falling due within one year

7

199,054

188,239

NET CURRENT (LIABILITIES)/ASSETS

(3,885

)

3,215

TOTAL ASSETS LESS CURRENT LIABILITIES

2,249

13,509

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,149

13,409

SHAREHOLDERS' FUNDS

2,249

13,509

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 9 August 2017 and were signed by:

P Binfield - Director

1.	STATUTORY INFORMATION

Binfield Commercial Insurance Brokers 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

27,750

AMORTISATION

At 1 January 2016

24,975

Charge for year

2,775

At 31 December 2016

27,750

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

2,775

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2016

11,644

15,550

27,194

Additions

-

659

659

At 31 December 2016

11,644

16,209

27,853

DEPRECIATION

At 1 January 2016

8,292

11,383

19,675

Charge for year

838

1,206

2,044

At 31 December 2016

9,130

12,589

21,719

NET BOOK VALUE

At 31 December 2016

2,514

3,620

6,134

At 31 December 2015

3,352

4,167

7,519

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

104,630

89,686

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

150,219

142,383

Taxation and social security

8,132

14,224

Other creditors

40,703

31,632

199,054

188,239

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £32,000 were paid to the director .