REGISTERED NUMBER:
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CITY OF LONDON INSURANCE & FINANCIAL |
SERVICES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2021 |
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REGISTERED NUMBER:
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CITY OF LONDON INSURANCE & FINANCIAL |
SERVICES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2021 |
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CITY OF LONDON INSURANCE & FINANCIAL |
SERVICES LIMITED (REGISTERED NUMBER: 02583863) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 2 |
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CITY OF LONDON INSURANCE & FINANCIAL |
SERVICES LIMITED (REGISTERED NUMBER: 02583863) |
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BALANCE SHEET |
31 MARCH 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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CITY OF LONDON INSURANCE & FINANCIAL |
SERVICES LIMITED (REGISTERED NUMBER: 02583863) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
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1. | STATUTORY INFORMATION |
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City of London Insurance & Financial Services Limited is a
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Registered number: | 02583863 |
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Registered office: | Broad House |
The Broadway |
Old Hatfield |
Herts |
AL9 5BG |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about City of London Insurance & Financial Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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Financial instruments |
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account. |
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Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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CITY OF LONDON INSURANCE & FINANCIAL |
SERVICES LIMITED (REGISTERED NUMBER: 02583863) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
and 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: Broad House, The Broadway, Old Hatfield, Herts AL9 5BG |
Nature of business:
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Class of shares: | holding |
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6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2020 |
and 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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CITY OF LONDON INSURANCE & FINANCIAL |
SERVICES LIMITED (REGISTERED NUMBER: 02583863) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Taxation and social security | ( |
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Other creditors |
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8. | ULTIMATE CONTROLLING PARTY |
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The controlling party is W A Wright. |