Jeston Insurance Brokers Ltd - Period Ending 2016-03-31

Registration number: 00738228

Jeston Insurance Brokers Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

MG Group (Professional Services) Ltd
Chartered Accountants
Audit House
260 Field End Road
Eastcote
Middlesex
HA4 9LT

Jeston Insurance Brokers Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Jeston Insurance Brokers Ltd
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Jeston Insurance Brokers Ltd for the year ended 31 March 2016 set out on pages 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 Jeston Insurance Brokers Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Jeston Insurance Brokers Ltd and state those matters that we have agreed to state to them, 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 Jeston Insurance Brokers Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Jeston Insurance Brokers Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Jeston Insurance Brokers Ltd. You consider that Jeston Insurance Brokers Ltd 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 accounts of Jeston Insurance Brokers Ltd. 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 accounts.

......................................

MG Group (Professional Services) Ltd
Chartered Accountants
Audit House
260 Field End Road
Eastcote
Middlesex
HA4 9LT

6 December 2016

Page 1

Jeston Insurance Brokers Ltd
(Registration number: 00738228)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					29,045			31,159
Investments					3,525			3,525
					32,570			34,684
Current assets
Debtors					106,155			133,084
Cash at bank and in hand					175,777			104,224
					281,932			237,308
Creditors: Amounts falling due within one year					(188,802)			(177,897)
Net current assets					93,130			59,411
Total assets less current liabilities					125,700			94,095
Creditors: Amounts falling due after more than one year					(30,730)			(30,730)
Net assets					94,970			63,365
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					93,970			62,365
Shareholders' funds					94,970			63,365

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 6 December 2016 and signed on its behalf by:

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Jeston Insurance Brokers Ltd
(Registration number: 00738228)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
Mr D J White
Director

.........................................
Mrs J M White
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Jeston Insurance Brokers Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% on reducing balance
Office equipment	15% on reducing balance

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 4

Jeston Insurance Brokers Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 April 2015		239,402			3,525			242,927
Additions		3,554			-			3,554
Disposals		(281)			-			(281)
At 31 March 2016		242,675			3,525			246,200
Depreciation
At 1 April 2015		208,243			-			208,243
Charge for the year		5,560			-			5,560
Eliminated on disposals		(173)			-			(173)
At 31 March 2016		213,630			-			213,630
Net book value
At 31 March 2016		29,045			3,525			32,570
At 31 March 2015		31,159			3,525			34,684

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

Page 5

Jeston Insurance Brokers Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

4	Related party transactions

Other related party transactions
 
During the year the company made the following related party transactions:

Jeston Securities Limited
(Mr D J White is a director and a shareholder of Jeston Securities Limited)
During the year, Jeston Securities Limited charged £nil (2015 - £20,000) in respect of management charges to
Jeston Insurance Brokers Limited. At the balance sheet date the amount due from Jeston Securities Limited was
£nil (2015 - £4,000).

Mrs J White
(Director)
During the year Mrs J White received rent from the company of £6,600 (2015 - £6,600). At the balance sheet
date the amount due to Mrs J White was £22,464 (2015 - £22,464).

Mr D J White
(Director)
At the balance sheet date the amount due to Mr D J White was £8,266 (2015 - £8,266).

Page 6