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Unaudited Financial Statements |
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For The Year Ended 31 December 2018 |
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Friar Street Insurance Consultants |
Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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For The Year Ended 31 December 2018 |
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for |
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Friar Street Insurance Consultants |
Limited |
Friar Street Insurance Consultants |
Limited (Registered number: 03863788) |
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Contents of the Financial Statements |
For The Year Ended 31 December 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Friar Street Insurance Consultants |
Limited |
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Company Information |
For The Year Ended 31 December 2018 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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Accountants: |
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Services) Ltd |
18/22 Church Street |
Malvern |
Worcestershire |
WR14 2AY |
Friar Street Insurance Consultants |
Limited (Registered number: 03863788) |
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Balance Sheet |
31 December 2018 |
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31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Investment property | 5 |
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Current assets |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 7 |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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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. |
Friar Street Insurance Consultants |
Limited (Registered number: 03863788) |
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Balance Sheet - continued |
31 December 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Friar Street Insurance Consultants |
Limited (Registered number: 03863788) |
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Notes to the Financial Statements |
For The Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Friar Street Insurance Consultants Limited is a
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England and Wales. The company's registered number and registered office address can be found on |
the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The Financial Statements are prepared in accordance with applicable accounting standards and are |
shown below. |
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Turnover |
Turnover represents net commissions and sales of services both from general insurance excluding |
discounts. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Friar Street Insurance Consultants |
Limited (Registered number: 03863788) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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Operating leases |
Operating leases (those which relate to the continual hire or charge for the use of property or assets |
without passing of ownership) are charged entirely to costs as the agreed amount falls due. |
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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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Friar Street Insurance Consultants |
Limited (Registered number: 03863788) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2018 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2018 |
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Revaluations | (2,519 | ) |
At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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Fair value at 31 December 2018 is represented by: |
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Valuation in 2017 | 658 |
Valuation in 2018 | (2,519 | ) |
Cost | 50,000 |
48,139 |
Friar Street Insurance Consultants |
Limited (Registered number: 03863788) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2018 |
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5. | INVESTMENT PROPERTY - continued |
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If the listed investments had not been revalued they would have been included at the following |
historical cost: |
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31.12.18 | 31.12.17 |
£ | £ |
Cost | 50,000 | 50,000 |
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Investment property was valued on an open market basis basis on 31 December 2018 by reference to the stock market values. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | OTHER FINANCIAL COMMITMENTS |
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As at 31st December 2018 the company had commitments under non-cancellable operating leases |
over the remaining life of the leases in the sum of £40000 . |
Friar Street Insurance Consultants |
Limited (Registered number: 03863788) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2018 |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 December 2018 |
and 31 December 2017: |
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31.12.18 | 31.12.17 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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