Uk & Ireland Insurance Services (online) - Accounts to registrar (filleted) - small 18.2
Uk & Ireland Insurance Services (online) - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended |
31 May 2019 |
for |
UK & IRELAND INSURANCE SERVICES (ONLINE) |
LIMITED |
UK & IRELAND INSURANCE SERVICES (ONLINE) |
LIMITED (REGISTERED NUMBER: 04239415) |
Contents of the Financial Statements |
For The Year Ended 31 May 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Certified Accountants' Report | 7 |
UK & IRELAND INSURANCE SERVICES (ONLINE) |
LIMITED |
Company Information |
For The Year Ended 31 May 2019 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
8 Eastway |
Sale |
Cheshire |
M33 4DX |
UK & IRELAND INSURANCE SERVICES (ONLINE) |
LIMITED (REGISTERED NUMBER: 04239415) |
Balance Sheet |
31 May 2019 |
31.5.19 | 31.5.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved by the director on |
UK & IRELAND INSURANCE SERVICES (ONLINE) |
LIMITED (REGISTERED NUMBER: 04239415) |
Notes to the Financial Statements |
For The Year Ended 31 May 2019 |
1. | STATUTORY INFORMATION |
Uk & Ireland Insurance Services (online) Limited is a |
and Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of FRS 102 "The Financial |
Reporting Standard applicable in the UK and Republic of Ireland" including Section 1A "Small Entities" and the |
Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
The company's policy of revenue recognition is to recognise a sale when the contractual obligations to the |
customer have been fulfilled. For contracts where obligations to the customer have not been fulfilled, but have |
been invoiced the sale is recognised within deferred income in current liabilities until such time a right to |
consideration arises. |
The total turnover of the company for the year has been derived from its principal activity wholly undertaken with |
the United Kingdom. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Computer equipment | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Cost includes costs which are directly attributable in bringing the asset to its location and condition so that it is |
capable of operating in the manner intended by management. |
Profits and losses on the disposal of fixed assets are included in the calculation of profit for the year. |
The directors assess the company's tangible assets for evidence of impairment at each reporting date. Where |
there are indicators of impairment, the directors calculate recoverable amount of the asset(s) and compare this |
with the carrying amount. If recoverable amount is lower than carrying amount, the asset is written down to |
recoverable amount by way of an impairment loss which is recognised in profit or loss for the year. Impairment |
losses are reversed when there is evidence that the reasons giving rise to the original impairment loss have |
ceased to apply. Impairment losses are reversed through profit and loss, but only to the extent that the reversal |
does not increase the carrying amount of the asset to the amount which would have been stated, net of |
depreciation, had no impairment loss been recognised. |
UK & IRELAND INSURANCE SERVICES (ONLINE) |
LIMITED (REGISTERED NUMBER: 04239415) |
Notes to the Financial Statements - continued |
For The Year Ended 31 May 2019 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of |
its financial instruments. |
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual |
provisions of the financial instrument. |
Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the |
effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their |
fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through |
profit and loss. All other investments are subsequently measured at cost less impairment. |
Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of |
impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is |
recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial |
assets that are individually significant, are assessed individually for impairment. Other financial assets are 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 which exceeds what the carrying amount would have been had |
the impairment loss not previously been recognised. |
Debtors |
Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated |
irrecoverable amounts are recognised in the profit and loss account when there is objective evidence that the |
asset is impaired. Prepayments do not meet the definition of a financial instrument. |
Cash and cash equivalents |
These comprise cash at bank and other short-term, highly liquid bank deposits with an original maturity of three |
months or less. |
Creditors |
Trade creditors are not interest bearing and are stated at their nominal value. Amounts in respect of taxation, |
social security and accrued expenses do not meet the definition of a financial instrument. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. Deferred tax is calculated using timing difference plus approach. |
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. |
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. |
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. |
UK & IRELAND INSURANCE SERVICES (ONLINE) |
LIMITED (REGISTERED NUMBER: 04239415) |
Notes to the Financial Statements - continued |
For The Year Ended 31 May 2019 |
2. | ACCOUNTING POLICIES - continued |
Employee benefits |
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for |
the employee's services to the company. Where employees have accrued short-term benefits which the entity |
has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one |
year with an associated expense in profit or loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Development |
costs |
£ |
COST |
At 1 June 2018 |
Additions |
At 31 May 2019 |
AMORTISATION |
At 1 June 2018 |
Amortisation for year |
At 31 May 2019 |
NET BOOK VALUE |
At 31 May 2019 |
At 31 May 2018 |
5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 June 2018 |
and 31 May 2019 |
DEPRECIATION |
At 1 June 2018 |
Charge for year |
At 31 May 2019 |
NET BOOK VALUE |
At 31 May 2019 |
At 31 May 2018 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.19 | 31.5.18 |
£ | £ |
Trade debtors |
Other debtors |
UK & IRELAND INSURANCE SERVICES (ONLINE) |
LIMITED (REGISTERED NUMBER: 04239415) |
Notes to the Financial Statements - continued |
For The Year Ended 31 May 2019 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.19 | 31.5.18 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Accrued expenses |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.5.19 | 31.5.18 |
£ | £ |
Within one year |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.19 | 31.5.18 |
value: | £ | £ |
Ordinary | £1 | 2,000 | 2,000 |
Chartered Certified Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Uk & Ireland Insurance Services (online) |
Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and |
the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Uk & Ireland Insurance Services (online) Limited for the year ended 31 May 2019 which |
comprise the Profit and loss account, Balance Sheet, Statement of Changes in Equity and the related notes from the |
company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the director of Uk & Ireland Insurance Services (online) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Uk & Ireland Insurance Services (online) Limited and state those matters that we have agreed to state to the director of Uk & Ireland Insurance Services (online) Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
It is your duty to ensure that Uk & Ireland Insurance Services (online) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Uk & Ireland Insurance Services (online) Limited. You consider that Uk & Ireland Insurance Services (online) Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Uk & Ireland Insurance Services (online) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Certified Accountants |
8 Eastway |
Sale |
Cheshire |
M33 4DX |
Date: ............................................. |