J. Gosling (Insurance Brokers) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01068519 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

J. GOSLING (INSURANCE BROKERS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P H Gosling

Mrs D E Gosling

SECRETARY:

Mrs D E Gosling

REGISTERED OFFICE:

Feldy View

8 City Road

West Mersea

Essex

CO5 8NE

REGISTERED NUMBER:

01068519 (England and Wales)

ACCOUNTANTS:

Baker Chapman & Bussey

Chartered Accountants

3 North Hill

Colchester

Essex

CO1 1DZ

FIXED ASSETS

Tangible assets

4

6,199

12,396

Investment property

5

368,693

360,000

374,892

372,396

CURRENT ASSETS

Debtors

6

199,532

326,344

Cash at bank and in hand

8,179

68,579

207,711

394,923

CREDITORS

Amounts falling due within one year

7

4,225

102,468

NET CURRENT ASSETS

203,486

292,455

TOTAL ASSETS LESS CURRENT LIABILITIES

578,378

664,851

PROVISIONS FOR LIABILITIES

30,689

30,689

NET ASSETS

547,689

634,162

CAPITAL AND RESERVES

Called up share capital

40

40

Revaluation reserve

8

231,589

231,589

Capital redemption reserve

360

360

Retained earnings

315,700

402,173

SHAREHOLDERS' FUNDS

547,689

634,162

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2023 and were signed on its behalf by:

Mr P H Gosling - Director

Mrs D E Gosling - Director

1.	STATUTORY INFORMATION

J. Gosling (Insurance Brokers) 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents commission receivable. Commission is recognised when premiums are received from customers.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

15% on cost

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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 2 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 May 2022

and 30 April 2023

1,840

23,760

25,600

DEPRECIATION

At 1 May 2022

1,324

11,880

13,204

Charge for year

257

5,940

6,197

At 30 April 2023

1,581

17,820

19,401

NET BOOK VALUE

At 30 April 2023

259

5,940

6,199

At 30 April 2022

516

11,880

12,396

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2022

360,000

Additions

8,693

At 30 April 2023

368,693

NET BOOK VALUE

At 30 April 2023

368,693

At 30 April 2022

360,000

Fair value at 30 April 2023 is represented by:

£

Valuation in 2022

260,820

Cost

107,873

368,693

6.

DEBTORS

2023

2022

£

£

Amounts falling due within one year:

Other debtors

151,364

141,864

Directors' current accounts

11,975

6,274

Prepayments

728

876

164,067

149,014

Amounts falling due after more than one year:

Other debtors

35,465

177,330

Aggregate amounts

199,532

326,344

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Hire purchase contracts

1,602

6,130

Taxation and social security

-

90,338

Other creditors

2,623

6,000

4,225

102,468

8.

RESERVES

Revaluation

reserve

£

At 1 May 2022

and 30 April 2023

231,589

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2023 and 30 April 2022:

2023

2022

£

£

Mr P H Gosling and Mrs D E Gosling

Balance outstanding at start of year

6,274

15,649

Amounts advanced

5,701

65,025

Amounts repaid

-

(74,400

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

11,975

6,274

The overdrawn loan account which cleared by way of a dividend declared on 31st May 2023.