Graybrook Insurance Brokers Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04955851 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

FOR

GRAYBROOK INSURANCE BROKERS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

W Hulse

J U Hulse

REGISTERED OFFICE:

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

REGISTERED NUMBER:

04955851 (England and Wales)

ACCOUNTANTS:

Segrave & Partners

Chartered Accountants

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

FIXED ASSETS

Intangible assets

2

75,000

82,500

Tangible assets

3

25,173

26,343

100,173

108,843

CURRENT ASSETS

Debtors

5,487

6,948

Cash at bank and in hand

461,492

306,570

466,979

313,518

CREDITORS

Amounts falling due within one year

250,757

174,368

NET CURRENT ASSETS

216,222

139,150

TOTAL ASSETS LESS CURRENT LIABILITIES

316,395

247,993

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

316,295

247,893

SHAREHOLDERS' FUNDS

316,395

247,993

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 3 December 2015 and were signed on its behalf by:

W Hulse - Director

J U Hulse - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents invoiced services and commissions.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

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 reducing balance

Office equipment

-

20% on reducing balance

Deferred tax

Deferred tax has been calculated but the amount involved is not significant enough to materially affect the

financial statements and therefore no provision has been made.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date

of transaction. Exchange differences are taken into account in arriving at the operating result.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

and 30 June 2015

150,000

AMORTISATION

At 1 July 2014

67,500

Amortisation for year

7,500

At 30 June 2015

75,000

NET BOOK VALUE

At 30 June 2015

75,000

At 30 June 2014

82,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

43,078

Additions

4,352

At 30 June 2015

47,430

DEPRECIATION

At 1 July 2014

16,735

Charge for year

5,522

At 30 June 2015

22,257

NET BOOK VALUE

At 30 June 2015

25,173

At 30 June 2014

26,343

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

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 Graybrook Insurance Brokers Limited for the year ended 30 June 2015 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Graybrook Insurance Brokers Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Graybrook Insurance Brokers Limited and state those matters that we have agreed to state to the Board of Directors of Graybrook Insurance Brokers 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 the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Graybrook Insurance Brokers 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 Graybrook Insurance Brokers Limited. You consider that Graybrook Insurance Brokers 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 Graybrook Insurance Brokers

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.

Segrave & Partners

Chartered Accountants

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

4 December 2015