Breakdown of brokerage income
Brokerage income per annum
Currency: KPW
Balance Sheet
| ASSETS | 2022 | 2021 | 2020 |
|---|---|---|---|
| Cash and cash equivalents | 16,061,040 | 16,583,710 | 10,916,182 |
| Accounts receivable | 4,610,231 | 7,285,064 | 5,228,961 |
| Prepayments | 280,969 | 164,719 | 156,875 |
| Investments | 10,821,573 | 4,783,889 | 10,133,889 |
| Tangible assets | 7,948,546 | 7,893,435 | 8,568,885 |
| Intangible assets | 27,900 | 28,700 | 29,500 |
| Total Assets | 39,750,259 | 36,739,517 | 35,034,292 |
| LIABILITIES AND EQUITY | 2022 | 2021 | 2020 |
|---|---|---|---|
| Liabilities | |||
| Accounts payable | 760,059 | 897,883 | 1,516,599 |
| Long-term debt | 811,774 | 584,500 | 595,050 |
| Accrued expenses | 725,530 | 604,363 | 716,366 |
| Total liabilities | 2,297,363 | 2,086,746 | 2,828,015 |
| Equity | |||
| Paid-up capital | 5,000,000 | 5,000,000 | 5,000,000 |
| Retained earnings | 32,452,896 | 29,652,771 | 27,206,277 |
| Total equity | 37,452,896 | 34,652,771 | 32,206,277 |
| Total Liabilities and Equity | 39,750,259 | 36,739,517 | 35,034,292 |
Income Statement
| Item | 2022 | 2021 | 2020 |
|---|---|---|---|
| Revenues | |||
| Insurance brokerage | 47,464,539 | 44,000,406 | 33,754,832 |
| Consulting revenue | 2,572,136 | 736,266 | 559,932 |
| Other income | 704,457 | 207,072 | 278,149 |
| Total revenues | 50,741,132 | 44,943,744 | 34,592,913 |
| Expenses | |||
| Net operating expenses | (14,822,942) | (10,362,794) | (11,617,151) |
| Other expenses | (725,530) | (604,363) | (716,366) |
| Total expenses | (15,548,472) | (10,967,157) | (12,333,517) |
| Income before payment to state | 35,192,660 | 33,976,587 | 22,259,396 |
| Payment to state | (10,557,798) | (10,192,976) | (6,677,819) |
| Net Income | 24,634,862 | 23,783,611 | 15,581,577 |
Cash Flow Statement
| Item | 2022 | 2021 | 2020 |
|---|---|---|---|
| Operating activities | |||
| Net Income | 24,634,862 | 23,783,611 | 15,581,577 |
| Net cash from operating activities | 24,634,862 | 23,783,611 | 15,581,577 |
| Investing activities | |||
| Cash from investing activities | 8,127,838 | 2,519,000 | 6,099,213 |
| Cash for investing activities | (10,821,573) | (7,500,000) | (8,000,000) |
| Net cash used in investing activities | (2,693,735) | (4,981,000) | (1,900,787) |
| Financing activities | |||
| Cash from financing activities | |||
| Cash for financing activities | (20,983,486) | (13,135,083) | (16,561,840) |
| Net cash used in financing activities | (20,983,486) | (13,135,083) | (16,561,840) |
| Net change in cash and cash equivalents | 957,641 | 5,667,528 | (2,881,050) |
| Cash and cash equivalents at the beginning of the year | 16,583,710 | 10,916,182 | 13,797,232 |
| Cash and cash equivalents at the end of the year | 17,541,351 | 16,583,710 | 10,916,182 |