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

REGISTERED NUMBER: 01867316 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2018

FOR

B K INSURANCE BROKERS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S B Patel

P Denton

SECRETARY:

S B Patel

REGISTERED OFFICE:

1st Floor, Simpson House

6 Cherry Orchard Road

Croydon

CR0 6BA

REGISTERED NUMBER:

01867316 (England and Wales)

FIXED ASSETS

Tangible assets

4

31,200

16,379

CURRENT ASSETS

Debtors

319,491

818,251

Cash at bank and in hand

2,030,885

1,895,457

2,350,376

2,713,708

CREDITORS

Amounts falling due within one year

(1,274,527

)

(1,465,589

)

NET CURRENT ASSETS

1,075,849

1,248,119

TOTAL ASSETS LESS CURRENT LIABILITIES

1,107,049

1,264,498

PROVISIONS FOR LIABILITIES

(5,564

)

(2,808

)

NET ASSETS

1,101,485

1,261,690

CAPITAL AND RESERVES

Called up share capital

215

215

Capital redemption reserve

786

786

Retained earnings

1,100,484

1,260,689

SHAREHOLDERS' FUNDS

1,101,485

1,261,690

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st May 2018 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 11th February 2019 and were signed on its behalf by:

S B Patel - Director

1.	STATUTORY INFORMATION

B K Insurance Brokers 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.

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 general insurance brokerage commissions which are recognised to the profit and loss

account upon settlement of premiums by clients.

Tangible fixed assets

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

Fixtures fittings & equipment

-

25% on reducing balance

Computer equipment

-

25% 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.

Pension costs and other post-retirement benefits

The company operates a stakeholder and workplace pension scheme.Contributions payable to the company's

pension schemes are charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2017 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st June 2017

165,516

Additions

25,220

At 31st May 2018

190,736

DEPRECIATION

At 1st June 2017

149,137

Charge for year

10,399

At 31st May 2018

159,536

NET BOOK VALUE

At 31st May 2018

31,200

At 31st May 2017

16,379

5.

.

.