Stirling Insurance Brokers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC110731 (Scotland)

Unaudited Financial Statements

For The Year Ended 31 March 2018

for

Stirling Insurance Brokers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Belgian

J L A Watt

SECRETARY:

P Belgian

REGISTERED OFFICE:

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

REGISTERED NUMBER:

SC110731 (Scotland)

ACCOUNTANTS:

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

FIXED ASSETS

Tangible assets

4

3,384

9,308

CURRENT ASSETS

Debtors

5

68,771

120,638

Cash at bank and in hand

43,965

63,079

112,736

183,717

CREDITORS

Amounts falling due within one year

6

7,695

59,529

NET CURRENT ASSETS

105,041

124,188

TOTAL ASSETS LESS CURRENT LIABILITIES

108,425

133,496

CAPITAL AND RESERVES

Called up share capital

76,000

76,000

Retained earnings

32,425

57,496

SHAREHOLDERS' FUNDS

108,425

133,496

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 13 November 2018 and were signed on its behalf by:

P Belgian - Director

J L A Watt - Director

1.	STATUTORY INFORMATION

Stirling Insurance Brokers Limited is a private company, limited by shares , registered in Scotland. The

company's registered number and registered office address can be found on the Company Information page.

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 represents commission earned on insurance broking and general insurance business.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2017

6,113

13,488

15,445

35,046

Disposals

-

(13,488

)

-

(13,488

)

At 31 March 2018

6,113

-

15,445

21,558

DEPRECIATION

At 1 April 2017

6,079

9,221

10,438

25,738

Charge for year

5

-

1,652

1,657

Eliminated on disposal

-

(9,221

)

-

(9,221

)

At 31 March 2018

6,084

-

12,090

18,174

NET BOOK VALUE

At 31 March 2018

29

-

3,355

3,384

At 31 March 2017

34

4,267

5,007

9,308

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2017

13,488

Disposals

(13,488

)

At 31 March 2018

-

DEPRECIATION

At 1 April 2017

9,221

Eliminated on disposal

(9,221

)

At 31 March 2018

-

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

4,267

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

43,138

95,288

Other debtors

22,721

20,961

Prepayments and accrued income

2,912

4,389

68,771

120,638

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

-

1,304

Trade creditors

-

51,034

Tax

-

69

Social security and other taxes

2,139

2,518

Pension fund

(536

)

87

Clients deposits

1,712

636

Directors' current accounts

796

-

Accrued expenses

3,584

3,881

7,695

59,529

7.	ULTIMATE CONTROLLING PARTY

The controlling party is P Belgian.