Commercial Underwriting Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 06942415 (England and Wales)

Abridged Unaudited Financial Statements for the Year Ended 30 August 2017

for

Commercial Underwriting Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

M Stonley

Mrs T Stonley

REGISTERED OFFICE:

206 Coggeshall Road

Marks Tey

Colchester

Essex

CO6 1HS

REGISTERED NUMBER:

06942415 (England and Wales)

ACCOUNTANTS:

ASAP Accounting Services Limited

Chartered Accountants

The Old Cartlodge

Warrens Farm, Great Tey

Colchester

CO6 1JG

FIXED ASSETS

Tangible assets

4

1

6,503

CURRENT ASSETS

Debtors

102,573

76,754

Cash at bank and in hand

184,235

276,111

286,808

352,865

CREDITORS

Amounts falling due within one year

155,760

151,003

NET CURRENT ASSETS

131,048

201,862

TOTAL ASSETS LESS CURRENT LIABILITIES

131,049

208,365

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

126,049

203,365

SHAREHOLDERS' FUNDS

131,049

208,365

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 August 2017 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 August 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 September 2017 and were signed on its behalf by:

M Stonley - Director

1.	STATUTORY INFORMATION

Commercial Underwriting 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 10% 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 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 2 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 31 August 2016

17,002

Additions

598

Disposals

(13,332

)

At 30 August 2017

4,268

DEPRECIATION

At 31 August 2016

10,499

Charge for year

133

Eliminated on disposal

(6,365

)

At 30 August 2017

4,267

NET BOOK VALUE

At 30 August 2017

1

At 30 August 2016

6,503

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Commercial Underwriting Limited for the year ended 30 August 2017 which comprise the

Abridged Income Statement, Abridged 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Commercial Underwriting Limited, as a body, in accordance with the terms of our engagement letter dated 14 June 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Commercial Underwriting Limited and state those matters that we have agreed to state to the Board of Directors of Commercial Underwriting Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Commercial Underwriting Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Commercial Underwriting 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 loss of Commercial Underwriting Limited. You consider that Commercial Underwriting 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 Commercial Underwriting 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.

ASAP Accounting Services Limited

Chartered Accountants

The Old Cartlodge

Warrens Farm, Great Tey

Colchester

CO6 1JG

26 September 2017