WARWICK_DAVIS_(INSURANCE_ - Accounts

WARWICK_DAVIS_(INSURANCE_ - Accounts

WARWICK DAVIS (INSURANCE CONSULTANTS) LTD - Company Information

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Company Registration No. 03137109 (England and Wales)
WARWICK DAVIS (INSURANCE CONSULTANTS) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
WARWICK DAVIS (INSURANCE CONSULTANTS) LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
WARWICK DAVIS (INSURANCE CONSULTANTS) LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WARWICK DAVIS (INSURANCE CONSULTANTS) LIMITED FOR THE YEAR ENDED 31 DECEMBER 2014
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Warwick Davis (Insurance Consultants) Limited for the year ended 31 December 2014 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of Warwick Davis (Insurance Consultants) Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Warwick Davis (Insurance Consultants) Limited and state those matters that we have agreed to state to the Board of Directors of Warwick Davis (Insurance Consultants) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Warwick Davis (Insurance Consultants) Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Warwick Davis (Insurance Consultants) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Warwick Davis (Insurance Consultants) Limited. You consider that Warwick Davis (Insurance Consultants) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Warwick Davis (Insurance Consultants) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Carpenter Box
20 February 2015
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
WARWICK DAVIS (INSURANCE CONSULTANTS) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 2 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
12,314
15,393
Tangible assets
2
29,394
18,106
41,708
33,499
Current assets
Debtors
35,188
13,082
Cash at bank and in hand
17,229
25,210
52,417
38,292
Creditors: amounts falling due within one year
(47,285)
(38,805)
Net current assets/(liabilities)
5,132
(513)
Total assets less current liabilities
46,840
32,986
Provisions for liabilities
(5,000)
(2,600)
41,840
30,386
Capital and reserves
Called up share capital
3
102
102
Profit and loss account
41,738
30,284
Shareholders'  funds
41,840
30,386
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 13 February 2015
Mr W Davis
Mrs P Davis
Director
Director
Company Registration No. 03137109
WARWICK DAVIS (INSURANCE CONSULTANTS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Turnover
Turnover represents commissions receivable.
1.3
Goodwill
Goodwill was acquired on two separate occasions and is written off in equal annual instalments over its estimated useful economic life of 20 years and 15 years respectively.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings leasehold
Over the term of the lease
Computer equipment
20% p.a. reducing balance
Fixtures, fittings and equipment
20% p.a. reducing balance
Motor vehicles
25% p.a. reducing balance
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.  The deferred tax balance has not been discounted.
WARWICK DAVIS (INSURANCE CONSULTANTS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 January 2014
54,905
75,937
130,842
Additions
-
0
18,851
18,851
At 31 December 2014
54,905
94,788
149,693
Depreciation
At 1 January 2014
39,512
57,831
97,343
Charge for the period
3,079
7,563
10,642
At 31 December 2014
42,591
65,394
107,985
Net book value
At 31 December 2014
12,314
29,394
41,708
At 31 December 2013
15,393
18,106
33,499
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
2 "A" Ordinary shares of £1 each
2
2
102
102
4
Related party relationships and transactions
Advances and credits to directors
Advances and credits granted to the directors during the year are outlined in the table below:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr N P Kerkhove -
-
1,189
76,045
-
53,415
23,819
1,189
76,045
-
53,415
23,819
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