Connect Insurance Brokers Limited - Accounts to registrar (filleted) - small 18.2
Connect Insurance Brokers Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2018 |
| for |
| Connect Insurance Brokers Limited |
| Connect Insurance Brokers Limited (Registered number: 04493658) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2018 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Connect Insurance Brokers Limited |
| Company Information |
| for the Year Ended 31 August 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Connect Insurance Brokers Limited (Registered number: 04493658) |
| Statement of Financial Position |
| 31 August 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| Investments | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| Connect Insurance Brokers Limited (Registered number: 04493658) |
| Statement of Financial Position - continued |
| 31 August 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on its behalf by: |
| Connect Insurance Brokers Limited (Registered number: 04493658) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2018 |
| 1. | STATUTORY INFORMATION |
| Connect Insurance Brokers Limited is a |
| and Wales. The company's registered number and registered office address can be found on the |
| Company Information page. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared under the historical cost convention and are presented |
| in Pounds Sterling (£) being the functional currency. |
| The financial statements have been prepared on the assumption that the company is able to carry |
| on business as a going concern, which the directors consider appropriate having regard to the |
| company's current and expected performance. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding |
| discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Intangible assets |
| Computer software is being amortised evenly over is estimated useful life of three years. |
| Tangible fixed assets |
| Freehold property | - |
| Office furniture and equipment | - |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost, except for investments in |
| non-convertible preference and non-puttable ordinary shares which are measured at fair value, with |
| changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost |
| and thereafter at fair value with changes recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax if applicable. 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 statement of financial position date. |
| Connect Insurance Brokers Limited (Registered number: 04493658) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2018 |
| 3. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
| at the statement of financial position 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. |
| 4. | EMPLOYEES |
| The average number of employees during the year was NIL (2017 - 34 ). |
| 5. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2017 |
| Additions |
| At 31 August 2018 |
| AMORTISATION |
| At 1 September 2017 |
| Charge for year |
| At 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| Connect Insurance Brokers Limited (Registered number: 04493658) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2018 |
| 6. | TANGIBLE FIXED ASSETS |
| Office |
| furniture |
| Freehold | and |
| property | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2017 |
| Additions |
| At 31 August 2018 |
| DEPRECIATION |
| At 1 September 2017 |
| Charge for year |
| At 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| The cost of Property comprises £128,578 in respect of Connect House and £30,814 in respect of 66 |
| Stafford Street. |
| 7. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 September 2017 |
| and 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Connect Insurance Brokers Limited (Registered number: 04493658) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2018 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 August 2018 and |
| 31 August 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| The advance is unsecured, repayable on demand and interest is charged on the amount outstanding |
| at 2.5%. |
| 11. | POST BALANCE SHEET EVENTS |
| Since the balance sheet date, but before the date of the approval of the financial statements, the |
| company has declared dividends of £31,000. These are in respect of profits earned in the current |
| financial year. |