Horsham Insurance Brokers Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01101567 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

HORSHAM INSURANCE BROKERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D J Skinner

R C W Organ

E G F Hannan

G N Lalley

SECRETARY:

Shoosmiths Secretaries Limited

REGISTERED OFFICE:

The Old Court House

191 High Road

South Woodford

London

E18 2QF

REGISTERED NUMBER:

01101567 (England and Wales)

SENIOR STATUTORY AUDITOR:

Shahid Hameed FCA FCCA

AUDITORS:

THP Limited

Chartered Accountants

and Statutory Auditors

34-40 High Street

Wanstead

London

E11 2RJ

FIXED ASSETS

Tangible assets

4

8,352

9,215

Investments

5

-

1,400

8,352

10,615

CURRENT ASSETS

Debtors

6

153,153

109,593

Cash at bank and in hand

7

696,561

655,506

849,714

765,099

CREDITORS

Amounts falling due within one year

8

379,818

341,864

NET CURRENT ASSETS

469,896

423,235

TOTAL ASSETS LESS CURRENT LIABILITIES

478,248

433,850

PROVISIONS FOR LIABILITIES

1,891

2,063

NET ASSETS

476,357

431,787

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

475,357

430,787

SHAREHOLDERS' FUNDS

476,357

431,787

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 13 March 2024 and were signed on its behalf by:

D J Skinner - Director

1.	STATUTORY INFORMATION

Horsham 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue recognition

Turnover represents the total value of the net brokerage and administrative fees receivable. General commission income and administrative fees due are recognised when the insured is invoiced with the agreed premiums and fees. No revenue is withdrawn from the insurance bank account until after payment has been received from the insured or is due under a formal credit agreement.

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

-

10% on cost

Computer equipment

-

20% 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.

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 October 2022

13,034

12,464

25,498

Additions

-

3,045

3,045

Disposals

-

(721

)

(721

)

At 30 September 2023

13,034

14,788

27,822

DEPRECIATION

At 1 October 2022

7,684

8,599

16,283

Charge for year

1,303

2,605

3,908

Eliminated on disposal

-

(721

)

(721

)

At 30 September 2023

8,987

10,483

19,470

NET BOOK VALUE

At 30 September 2023

4,047

4,305

8,352

At 30 September 2022

5,350

3,865

9,215

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 October 2022

2,712

Disposals

(2,712

)

At 30 September 2023

-

PROVISIONS

At 1 October 2022

1,312

Eliminated on disposal

(1,312

)

At 30 September 2023

-

NET BOOK VALUE

At 30 September 2023

-

At 30 September 2022

1,400

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

129,470

105,550

Prepayments and accrued income

23,683

4,043

153,153

109,593

7.	CASH AT BANK AND IN HAND

Included within cash and cash equivalents are client account balances amounting to £277,452 (2022: £274,385) not available for use by the company.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

328,849

309,983

Corporation tax

13,076

12,155

Social security and other taxes

5,920

6,885

Other creditors

2,116

1,601

Accrued expenses

29,857

11,240

379,818

341,864

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023

2022

£

£

Within one year

20,700

20,700

Between one and five years

63,825

82,800

In more than five years

-

1,725

84,525

105,225

Operating leases relate to company's business premises.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

1,000

Ordinary

£1

1,000

1,000

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Shahid Hameed FCA FCCA (Senior Statutory Auditor)

for and on behalf of THP Limited

12.	POST BALANCE SHEET EVENTS

Subsequent to the year end, the company's entire share capital was purchased by JGL Bidco 7 Limited, which is in turn owned 100% by Jensten Holdings Limited.

13.	ULTIMATE CONTROLLING PARTY

At the year end, the parent company and controlling party was Berns Brett Limited, whose registered office and principal place of business are the same as the company's registered office.

Subsequent to the year end, the company's entire share capital was purchased by JGL Bidco 7 Limited, a company incorporated in England and Wales, which became the immediate parent undertaking. The ultimate parent company is Jensten Holdings Limited, a company incorporated in England and Wales, whose registered office is Coversure House Vantage Park, Washingley Road, Huntingdon, Cambridgeshire PE29 6SR.

The ultimate parent is Livingbridge EP LLP, 100 Wood Street, London EC2V 7AN, a partnership incorporated in England and Wales. The majority of Jensten Holdings Limited's equity is ultimately owned by FIS Nominee Limited as nominee for Livingbridge 6 LP, Livingbridge 6 Co-Invest LP and Livingbridge 6 FF Co-Invest LP, all under the management of Livingbridge EP LP.