12
30/11/2022
2022-11-30
false
false
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No description of principal activities is disclosed
2021-12-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
03438928
2021-12-01
2022-11-30
03438928
2022-11-30
03438928
2021-11-30
03438928
2020-12-01
2021-11-30
03438928
2021-11-30
03438928
core:PlantMachinery
2021-12-01
2022-11-30
03438928
core:FurnitureFittingsToolsEquipment
2021-12-01
2022-11-30
03438928
core:MotorVehicles
2021-12-01
2022-11-30
03438928
bus:RegisteredOffice
2021-12-01
2022-11-30
03438928
bus:LeadAgentIfApplicable
2021-12-01
2022-11-30
03438928
bus:Director1
2021-12-01
2022-11-30
03438928
bus:Director2
2021-12-01
2022-11-30
03438928
bus:Director3
2021-12-01
2022-11-30
03438928
bus:Director5
2021-12-01
2022-11-30
03438928
bus:CompanySecretary1
2021-12-01
2022-11-30
03438928
core:NetGoodwill
2022-11-30
03438928
core:PlantMachinery
2021-11-30
03438928
core:FurnitureFittingsToolsEquipment
2021-11-30
03438928
core:MotorVehicles
2021-11-30
03438928
core:PlantMachinery
2022-11-30
03438928
core:FurnitureFittingsToolsEquipment
2022-11-30
03438928
core:MotorVehicles
2022-11-30
03438928
core:WithinOneYear
2022-11-30
03438928
core:WithinOneYear
2021-11-30
03438928
core:ShareCapital
2022-11-30
03438928
core:ShareCapital
2021-11-30
03438928
core:SharePremium
2022-11-30
03438928
core:SharePremium
2021-11-30
03438928
core:RetainedEarningsAccumulatedLosses
2022-11-30
03438928
core:RetainedEarningsAccumulatedLosses
2021-11-30
03438928
core:NetGoodwill
2021-11-30
03438928
core:CostValuation
core:Non-currentFinancialInstruments
2022-11-30
03438928
core:Non-currentFinancialInstruments
2022-11-30
03438928
core:Non-currentFinancialInstruments
2021-11-30
03438928
core:PlantMachinery
2021-11-30
03438928
core:FurnitureFittingsToolsEquipment
2021-11-30
03438928
core:MotorVehicles
2021-11-30
03438928
bus:SmallEntities
2021-12-01
2022-11-30
03438928
bus:AuditExempt-NoAccountantsReport
2021-12-01
2022-11-30
03438928
bus:FullAccounts
2021-12-01
2022-11-30
03438928
bus:SmallCompaniesRegimeForAccounts
2021-12-01
2022-11-30
03438928
bus:PrivateLimitedCompanyLtd
2021-12-01
2022-11-30
03438928
core:NetGoodwill
2021-12-01
2022-11-30
Company registration number:
03438928
Burrow Humphreys Limited
Unaudited filleted financial statements
30 November 2022
Burrow Humphreys Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Burrow Humphreys Limited
Directors and other information
|
|
|
|
Directors
|
Mr D R L Burrow
|
|
|
Mr S Humphreys A.C.I.I.
|
|
|
Mrs C Humphreys
|
|
|
Mr S J Howell A.C.I.I.
|
|
|
|
|
|
|
|
Secretary
|
C Humphreys
|
|
|
|
|
|
|
|
Company number
|
03438928
|
|
|
|
|
|
|
|
Registered office
|
No.1 Wigan Pier
|
|
|
Wigan
|
|
|
Lancashire
|
|
|
WN3 4EU
|
|
|
|
|
|
|
|
Business address
|
No.1 Wigan Pier
|
|
|
Wigan
|
|
|
Lancashire
|
|
|
WN3 4EU
|
|
|
|
|
|
|
|
Accountants
|
Wrigley Partington
|
|
|
Sterling House
|
|
|
501 Middleton Road
|
|
|
Chadderton
|
|
|
Oldham
|
|
|
OL9 9LY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bankers
|
The Royal Bank of Scotland Plc
|
|
|
38 Market Place
|
|
|
Wigan
|
|
|
WN1 1PJ
|
|
|
|
|
|
|
|
Solicitors
|
Alker Ball Healds Solicitors
|
|
|
Moot Hall Chambers
|
|
|
8 Wallgate
|
|
|
Wigan
|
|
|
WN1 1JE
|
|
|
|
Burrow Humphreys Limited
Statement of financial position
30 November 2022
|
|
|
2022
|
|
|
|
2021
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
5
|
-
|
|
|
|
-
|
|
|
Tangible assets
|
|
6
|
28,242
|
|
|
|
29,971
|
|
|
Investments
|
|
7
|
40,000
|
|
|
|
40,000
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
68,242
|
|
|
|
69,971
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Debtors
|
|
8
|
114,245
|
|
|
|
91,836
|
|
|
Cash at bank and in hand
|
|
|
407,668
|
|
|
|
403,824
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
521,913
|
|
|
|
495,660
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
10
|
(
281,003)
|
|
|
|
(
287,978)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
240,910
|
|
|
|
207,682
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
309,152
|
|
|
|
277,653
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
3,443)
|
|
|
|
(
3,350)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
305,709
|
|
|
|
274,303
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
175
|
|
|
|
175
|
Share premium account
|
|
|
|
|
99,975
|
|
|
|
99,975
|
Profit and loss account
|
|
|
|
|
205,559
|
|
|
|
174,153
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
305,709
|
|
|
|
274,303
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
31 March 2023
, and are signed on behalf of the board by:
Mr D R L Burrow
Mr S Humphreys A.C.I.I.
Director
Director
Company registration number:
03438928
Burrow Humphreys Limited
Notes to the financial statements
Year ended 30 November 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is No.1 Wigan Pier, Wigan, Lancashire, WN3 4EU.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents net retained brokerage, commissions and charges earned during the year for insurance intermediary services provided.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery
|
-
|
25 %
|
reducing balance
|
|
Fittings fixtures and equipment
|
-
|
15 %
|
reducing balance
|
|
Motor vehicles
|
-
|
25 %
|
reducing balance
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
12
(2021:
12
).
5.
Intangible assets
|
|
Goodwill
|
Total
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 December 2021 and 30 November 2022
|
46,267
|
46,267
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Amortisation
|
|
|
|
|
|
|
|
At 1 December 2021 and 30 November 2022
|
46,267
|
46,267
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 30 November 2022
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 30 November 2021
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Plant and machinery
|
Fixtures, fittings and equipment
|
Motor vehicles
|
Total
|
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 December 2021
|
99,404
|
46,516
|
26,295
|
172,215
|
|
|
|
|
Additions
|
6,030
|
-
|
-
|
6,030
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 30 November 2022
|
105,434
|
46,516
|
26,295
|
178,245
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 December 2021
|
82,333
|
40,203
|
19,708
|
142,244
|
|
|
|
|
Charge for the year
|
5,165
|
947
|
1,647
|
7,759
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 30 November 2022
|
87,498
|
41,150
|
21,355
|
150,003
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 30 November 2022
|
17,936
|
5,366
|
4,940
|
28,242
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 30 November 2021
|
17,071
|
6,313
|
6,587
|
29,971
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Investments
|
|
Shares in group undertakings and participating interests
|
Total
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 December 2021 and 30 November 2022
|
40,000
|
40,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Impairment
|
|
|
|
|
|
|
|
At 1 December 2021 and 30 November 2022
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 30 November 2022
|
40,000
|
40,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 30 November 2021
|
40,000
|
40,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
8.
Debtors
|
|
|
2022
|
2021
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
92,164
|
86,858
|
|
Other debtors
|
|
22,081
|
4,978
|
|
|
|
_______
|
_______
|
|
|
|
114,245
|
91,836
|
|
|
|
_______
|
_______
|
|
|
|
|
|
In conjunction with the adoption of FRS 102 the Directors have reconsidered the disclosure of insurance broking assets and liabilities and as a result have concluded that only the net balance should be disclosed as an asset of the company itself with prior year comparatives.At the year end
Burrow Humphreys Limited
's insurance broking assets and liabilities were as follows:-
2022
2021
£
£
Cash at bank and in hand
232,895
271,255
Insurance debtors
554,298
506,983
Insurance creditors
(695,029)
(691,380)
_______
|
_______
|
92,164
86,858
_______
|
_______
|
9.
Cash at bank and in hand
The company is regulated by the FCA. As required by the FCA, client monies are held in statutory trust client bank accounts. The use and governance of the balances held within these accounts are determined by trust deeds and by the FCA's client asset rules source book (CASS), the monies held in such Statutory Trust client bank accounts is included in the accounts as part of debtors as detailed in note 9 of the financial statements.
10.
Creditors: amounts falling due within one year
|
|
|
2022
|
2021
|
|
|
|
£
|
£
|
|
Social security and other taxes
|
|
42,956
|
44,950
|
|
Other creditors
|
|
238,047
|
243,028
|
|
|
|
_______
|
_______
|
|
|
|
281,003
|
287,978
|
|
|
|
_______
|
_______
|
|
|
|
|
|