Compton Insurance Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02691285 (England and Wales)

Financial Statements for the Year Ended 31 October 2018

for

Compton Insurance Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P Ballard

Mrs S R Ballard

SECRETARY:

Mr P Ballard

REGISTERED OFFICE:

45/51, Wychtree Street

Morriston

Swansea

West Glamorgan

SA6 8EX

REGISTERED NUMBER:

02691285 (England and Wales)

SENIOR STATUTORY AUDITOR:

Dylan Jones

AUDITORS:

Cambrian & Co Ltd

Chartered Accountants & Statutory Auditors

13a Victoria Gardens

Neath

West Glamorgan

SA11 3AY

CURRENT ASSETS

Debtors

5

3,954,589

3,502,594

Cash at bank

222,016

190,300

4,176,605

3,692,894

CREDITORS

Amounts falling due within one year

6

220,701

222,829

NET CURRENT ASSETS

3,955,904

3,470,065

TOTAL ASSETS LESS CURRENT LIABILITIES

3,955,904

3,470,065

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

3,955,902

3,470,063

SHAREHOLDERS' FUNDS

3,955,904

3,470,065

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 June 2019 and were signed on its behalf by:

Mr P Ballard - Director

1.	STATUTORY INFORMATION

Compton Insurance Services Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents commissions earned on the introduction of insurance policies and investments, and is

recognised on an accruals basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

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.

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.

Deferred tax

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 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 future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 November 2017

and 31 October 2018

13,329

DEPRECIATION

At 1 November 2017

and 31 October 2018

13,329

NET BOOK VALUE

At 31 October 2018

-

At 31 October 2017

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Amounts due from related companies

3,890,106

3,457,186

Prepayments

3,127

-

Accrued income

61,356

45,408

3,954,589

3,502,594

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Trade creditors and accruals

-

1

Tax

113,967

117,001

Social security and other taxes

1,887

1,693

Other creditors

238

(2

)

Deferred income

103,366

103,366

Accrued expenses

1,243

770

220,701

222,829

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Dylan Jones (Senior Statutory Auditor)

for and on behalf of Cambrian & Co Ltd

8.	RELATED PARTY DISCLOSURES

Included in debtors is an amount of £3,890,106 (2017 £3,457,186) due from associated company under

common control Tapestart Ltd.

9.	ULTIMATE CONTROLLING PARTY

The directors consider the ultimate controlling party to be the W Ballard Discretionary (No 2) Trust.