IRIS Accounts Production
v17.2.1.52
02864963
Board of Directors
1.1.16
31.12.16
31.12.16
30/6/2017
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Auditors Opinion
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02864963
2015-12-31
02864963
2016-12-31
02864963
2016-01-01
2016-12-31
02864963
2014-12-31
02864963
2015-01-01
2015-12-31
02864963
2015-12-31
02864963
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2016-01-01
2016-12-31
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2016-01-01
2016-12-31
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2016-01-01
2016-12-31
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2016-01-01
2016-12-31
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2016-12-31
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2016-01-01
2016-12-31
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2016-01-01
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2016-12-31
02864963
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2015-12-31
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02864963
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2015-12-31
02864963
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2015-12-31
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02864963
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2016-12-31
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2016-12-31
02864963
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2015-12-31
02864963
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2015-12-31
02864963
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2015-12-31
02864963
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Audited Financial Statements for the Year Ended 31 December 2016
|
|
REGISTERED OFFICE:
|
Drake House
|
|
REGISTERED NUMBER:
|
02864963 (England and Wales)
|
|
Cardiff Gate Business Park |
Intangible assets
|
2
|
-
|
|
35,412
|
|
|
Tangible assets
|
3
|
77,992
|
|
112,148
|
|
|
Debtors
|
4
|
2,353,217
|
|
1,841,114
|
|
|
Cash at bank
|
3,049,562
|
|
2,387,815
|
|
|
Amounts falling due within one year
|
5
|
3,612,404
|
|
3,230,218
|
|
|
NET CURRENT ASSETS
|
1,790,375
|
|
998,711
|
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES
|
1,868,367
|
|
1,146,271
|
|
|
PROVISIONS FOR LIABILITIES
|
-
|
|
4,000
|
|
|
NET ASSETS
|
1,868,367
|
|
1,142,271
|
|
|
Called up share capital
|
2,000
|
|
2,000
|
|
|
Retained earnings
|
1,866,367
|
|
1,140,271
|
|
|
SHAREHOLDERS' FUNDS
|
1,868,367
|
|
1,142,271
|
|
|
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 Profit & Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors on
27 June 2017 and were
signed on its behalf by:
|
|
Basis of preparing the financial statements
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|
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 represents brokerage income for which the company takes credit upon inception of
|
|
the corresponding insurance policy.
|
|
Intangible assets are initially measured at cost. After initial recognition, intangible assets are
|
|
measured at cost less any accumulated amortisation and any accumulated impairment
|
|
Other intangible assets are being amortised evenly over their estimated useful life of nil years. |
|
Intangible fixed assets are being amortised over their useful lives, estimated by the directors
|
|
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
|
Plant and machinery
|
-
|
20% straight line |
|
Fixtures and fittings
|
-
|
20% straight line |
|
Motor vehicles
|
-
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40% straight line |
|
Computer equipment
|
-
|
25% - 33% straight line |
|
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit &
|
|
Loss Account, 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.
|
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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
|
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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
|
|
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.
|
|
The company acts as an insurance intermediary and is not liable for premiums due to
|
|
underwriters or for claims payable to clients. Notwithstanding this legal relationship with
|
|
clients and underwriters, the company follows generally accepted accounting practice by
|
|
showing debtors, cash and creditors relating to insurance business as assets and liabilities
|
|
of the company itself. The company receives premiums and premium refunds under risk
|
|
transfer agreements with underwriters.
|
|
Hire purchase and leasing commitments
|
|
Assets held under finance leases and hire purchase contracts, which are those where
|
|
substantially all the risks and rewards of ownership of the asset have passed to the
|
|
company, are capitalised in the balance sheet and depreciated over their useful lives.
|
|
The interest element of the rental obligations is charged to the profit and loss account over
|
|
the period of the lease and represents a constant proportion of the balance of capital
|
|
Rentals paid under operating leases are charged to income on a straight line basis over the
|
2.
|
INTANGIBLE FIXED ASSETS
|
|
and 31 December 2016
|
67,167
|
|
|
|
Amortisation for year
|
35,412
|
|
|
|
At 31 December 2016
|
67,167
|
|
|
|
At 31 December 2015
|
35,412
|
|
|
|
Plant and
|
|
and
|
|
Motor
|
|
Computer
|
|
|
machinery
|
|
fittings
|
|
vehicles
|
|
equipment
|
|
Totals
|
|
At 1 January 2016
|
22,261
|
|
28,206
|
|
-
|
|
498,922
|
|
549,389
|
|
|
|
Additions
|
313
|
|
-
|
|
10,585
|
|
13,727
|
|
24,625
|
|
|
|
At 31 December 2016
|
22,574
|
|
28,206
|
|
10,585
|
|
512,649
|
|
574,014
|
|
|
|
At 1 January 2016
|
21,470
|
|
22,681
|
|
-
|
|
393,090
|
|
437,241
|
|
|
|
Charge for year
|
300
|
|
3,933
|
|
2,823
|
|
51,725
|
|
58,781
|
|
|
|
At 31 December 2016
|
21,770
|
|
26,614
|
|
2,823
|
|
444,815
|
|
496,022
|
|
|
|
At 31 December 2016
|
804
|
|
1,592
|
|
7,762
|
|
67,834
|
|
77,992
|
|
|
|
At 31 December 2015
|
791
|
|
5,525
|
|
-
|
|
105,832
|
|
112,148
|
|
|
4.
|
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
|
Trade debtors
|
1,395,984
|
|
1,599,556
|
|
|
|
Other debtors & prepayments
|
957,233
|
|
241,558
|
|
|
5.
|
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
|
Hire purchase contracts
|
-
|
|
13,399
|
|
|
|
Trade creditors
|
2,997,812
|
|
2,189,720
|
|
|
|
Taxes & social security costs
|
330,784
|
|
229,269
|
|
|
|
Other creditors & accruals
|
283,808
|
|
797,830
|
|
|
|
The following secured debts are included within creditors:
|
|
Hire purchase contracts
|
-
|
|
13,399
|
|
|
7.
|
DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006
|
|
The Report of the Auditors was unqualified.
|
|
John Huw Palin ACA (Senior Statutory Auditor)
|
|
for and on behalf of
BPU Limited |
8.
|
ULTIMATE CONTROLLING PARTY
|
|
The controlling party is A A Masters. |