Pharos Insurance Brokers (Kent) Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 02392471 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

PHAROS INSURANCE BROKERS (KENT) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S C Corner

S J Kempe

S B Turner

SECRETARY:

S C Corner

REGISTERED OFFICE:

Pharos House

Honeywood Road

Whitfield

DOVER

Kent

CT16 3EH

REGISTERED NUMBER:

02392471 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

2 The Links

HERNE BAY

Kent

CT6 7GQ

CURRENT ASSETS

Debtors

3

1,000

61,689

Cash at bank

566

4,514

1,566

66,203

CREDITORS

Amounts falling due within one year

4

-

3,001

NET CURRENT ASSETS

1,566

63,202

TOTAL ASSETS LESS CURRENT LIABILITIES

1,566

63,202

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

566

62,202

SHAREHOLDERS' FUNDS

1,566

63,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 17 March 2017 and were signed on its behalf by:

S C Corner - Director

S J Kempe - Director

S B Turner - Director

1.	STATUTORY INFORMATION

Pharos Insurance Brokers (Kent) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents commission receivable in the accounting period less provision for refunds on cancelled

policies. Credit is taken for commission on receipt of insurance premiums.

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 that have been enacted

or substantively enacted by the balance sheet date.

Going concern

The company ceased trading on 31st December 2014 and therefore the financial statements are not prepared

on the going concern basis.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Amounts owed by group undertakings

1,000

60,150

Other debtors

-

1,539

1,000

61,689

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Amounts owed to group undertakings

-

2,000

Other creditors

-

1,001

-

3,001

5.	SECURED DEBTS

HSBC Bank Plc hold a Debenture including fixed and floating charges over all the assets of the company and it's

fellow group companies in respect of a loan to Pharos Holdings Limited.

6.	CONTINGENT LIABILITIES

The Company, together with fellow Group companies, is party to an unlimited multilateral guarantee in respect of

the bank loan with HSBC Bank Plc.