Conduit Reinsurance Services Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 12947450 (England and Wales)

Financial Statements for the Year Ended 31 December 2022

for

Conduit Reinsurance Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N D Eckert

A Moretti

SECRETARY:

Davies MGA Services Limited

REGISTERED OFFICE:

c/oDavies Group Ltd

5th Floor, 20 Gracechurch Street

London

EC3V 0BG

REGISTERED NUMBER:

12947450 (England and Wales)

ACCOUNTANTS:

Passmore Weeks and Richardson

A Xeinadin Company

2 Beacon End Courtyard

London Road, Stanway

Colchester

Essex

CO3 0NU

FIXED ASSETS

Tangible assets

4

-

106,652

CURRENT ASSETS

Debtors

5

726,094

78,552

Cash at bank

121,727

62,530

847,821

141,082

CREDITORS

Amounts falling due within one year

6

1,107,767

586,318

NET CURRENT LIABILITIES

(259,946

)

(445,236

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(259,946

)

(338,584

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(259,947

)

(338,585

)

(259,946

)

(338,584

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 29 September 2023 and were signed on its behalf by:

N D Eckert - Director

1.	STATUTORY INFORMATION

Conduit Reinsurance Services 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

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 2 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

$

COST

At 1 January 2022

118,502

Disposals

(118,502

)

At 31 December 2022

-

DEPRECIATION

At 1 January 2022

11,850

Eliminated on disposal

(11,850

)

At 31 December 2022

-

NET BOOK VALUE

At 31 December 2022

-

At 31 December 2021

106,652

5.

DEBTORS

31.12.22

31.12.21

$

$

Amounts falling due within one year:

Other debtors

9,094

5,023

Amounts falling due after more than one year:

Other debtors

717,000

73,529

Aggregate amounts

726,094

78,552

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

$

$

Trade creditors

136

25

Other creditors

1,107,631

586,293

1,107,767

586,318