Ashley Rodwell Insurance Agencies Limite - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 07047991 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

ASHLEY RODWELL INSURANCE AGENCIES

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Singh-Digpal

REGISTERED OFFICE:

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

REGISTERED NUMBER:

07047991 (England and Wales)

ACCOUNTANTS:

Lawes & Co

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Intangible assets

4

93,600

124,800

Tangible assets

5

40,178

6,632

133,778

131,432

CURRENT ASSETS

Debtors

6

228,497

200,894

Cash at bank and in hand

331,688

322,963

560,185

523,857

CREDITORS

Amounts falling due within one year

7

79,997

151,704

NET CURRENT ASSETS

480,188

372,153

TOTAL ASSETS LESS CURRENT LIABILITIES

613,966

503,585

CAPITAL AND RESERVES

Called up share capital

9

26,375

26,375

Retained earnings

10

587,591

477,210

SHAREHOLDERS' FUNDS

613,966

503,585

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 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 director and authorised for issue on 13 October 2023 and were signed by:

S Singh-Digpal - Director

1.	STATUTORY INFORMATION

Ashley Rodwell Insurance Agencies 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

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.

Improvements to property

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

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 12 (2022 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

600,000

AMORTISATION

At 1 April 2022

475,200

Charge for year

31,200

At 31 March 2023

506,400

NET BOOK VALUE

At 31 March 2023

93,600

At 31 March 2022

124,800

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2022

7,269

33,540

18,419

4,790

64,018

Additions

-

4,440

48,750

-

53,190

At 31 March 2023

7,269

37,980

67,169

4,790

117,208

DEPRECIATION

At 1 April 2022

7,269

32,910

13,815

3,392

57,386

Charge for year

-

1,655

16,792

1,197

19,644

At 31 March 2023

7,269

34,565

30,607

4,589

77,030

NET BOOK VALUE

At 31 March 2023

-

3,415

36,562

201

40,178

At 31 March 2022

-

630

4,604

1,398

6,632

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Other debtors

224,692

189,604

Deferred tax asset

Accelerated capital allowances

3,805

1,991

Prepayments and accrued income

-

9,299

228,497

200,894

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

-

(1

)

Tax

78,522

79,501

Other creditors

-

5,100

Directors' current accounts

1,475

67,104

79,997

151,704

8.	DEFERRED TAX

£

Balance at 1 April 2022

(1,991

)

Accelerated capital allowances

(1,814

)

Balance at 31 March 2023

(3,805

)

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

10,550

A Ordinary

£1

10,550

10,550

5,275

B Ordinary

£1

5,275

5,275

5,275

C Ordinary

£1

5,275

5,275

5,275

D Ordinary

£1

5,275

5,275

26,375

26,375

10.

RESERVES

Retained

earnings

£

At 1 April 2022

477,210

Profit for the year

286,381

Dividends

(176,000

)

At 31 March 2023

587,591

11.	RELATED PARTY DISCLOSURES

The director maintains an interest free loan account with the company. At the balance sheet date, the company owed the director £1,475 (2022 £67,104).

The company has lent £215,192 (2022 £79,729) to Jagjit Ltd a company controlled by a director of Ashley Rodwell.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Singh-Digpal.