R. McGee Insurance Broker Limited - Accounts to registrar (filleted) - small 18.2
R. McGee Insurance Broker Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
R. MCGEE INSURANCE BROKER |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
R. MCGEE INSURANCE BROKER |
LIMITED (REGISTERED NUMBER: 01599033) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
R. MCGEE INSURANCE BROKER |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3 New Mill Court |
Phoenix Way |
Llansamlet |
Swansea |
SA7 9FG |
R. MCGEE INSURANCE BROKER |
LIMITED (REGISTERED NUMBER: 01599033) |
BALANCE SHEET |
30 NOVEMBER 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
R. MCGEE INSURANCE BROKER |
LIMITED (REGISTERED NUMBER: 01599033) |
BALANCE SHEET - continued |
30 NOVEMBER 2018 |
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 |
R. MCGEE INSURANCE BROKER |
LIMITED (REGISTERED NUMBER: 01599033) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
1. | STATUTORY INFORMATION |
R. McGee Insurance Broker Limited is a |
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. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, |
estimates and assumptions about the carrying amounts of assets and liabilities that are not readily |
apparent from other sources. The estimates and associated assumptions are based on historical |
experience and other factors which are considered to be relevant. Actual results may differ from these |
estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting |
estimates are recognised in the period in which the estimate is revised if the revision only effects that |
period, or in the period of the revision and future periods if the revision affects both current and future |
periods. |
The following are the critical judgements that the directors have made in the process of applying the |
company's accounting policies and that have the most significant effect on the amounts recognised in |
the financial statements. |
Impairment of assets |
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective |
evidence of impairment, an impairment loss is recognised in the income statement. |
Provisions and contingencies |
Provisions are recognised when the company has a present obligation as a result of a past event and a |
reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities |
are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only |
disclosed if an inflow of economic benefits is probable. |
Turnover |
Turnover represents commissions received from insurance companies, which are recognised in the |
period in which they were earned. Commissions returned on policy cancellations are recognised on |
notification of cancellation. |
Tangible fixed assets |
Plant and machinery etc | - |
R. MCGEE INSURANCE BROKER |
LIMITED (REGISTERED NUMBER: 01599033) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially |
measured at transaction price unless the arrangement constitutes a financing transaction, where the |
transaction is measured at the present value of the future receipts discounted at a market rate of |
interest. |
Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at |
transaction price unless the arrangement constitutes a financing transaction, where the debt |
instrument is measured at the present value of the future receipts discounted at a market rate of |
interest. |
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 taxation |
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. |
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. |
Investments |
Fixed asset investments are shown at the lower of cost and net realisable value. The carrying values |
of investments are reviewed for impairment if events or changes in circumstances indicate the carrying |
values may not be recoverable. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
R. MCGEE INSURANCE BROKER |
LIMITED (REGISTERED NUMBER: 01599033) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 December 2017 |
Additions |
At 30 November 2018 |
DEPRECIATION |
At 1 December 2017 |
Charge for year |
At 30 November 2018 |
NET BOOK VALUE |
At 30 November 2018 |
At 30 November 2017 |
5. | FIXED ASSET INVESTMENTS |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
COST |
At 1 December 2017 | 107,500 |
Disposals | ( |
) | (7,000 | ) |
At 30 November 2018 | 100,500 |
PROVISIONS |
At 1 December 2017 | 100,500 | 6,999 | 107,499 |
Provision for year | - | 1 | 1 |
Eliminated on disposal | - | (7,000 | ) | (7,000 | ) |
At 30 November 2018 | 100,500 | - | 100,500 |
NET BOOK VALUE |
At 30 November 2018 | - |
At 30 November 2017 | 1 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
Other debtors |
R. MCGEE INSURANCE BROKER |
LIMITED (REGISTERED NUMBER: 01599033) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |