Offshore And Marine Insurance Services L - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03469979 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

OFFSHORE AND MARINE INSURANCE SERVICES

LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Nottingham

Mrs M Smith

REGISTERED OFFICE:

Highdown House

11 Highdown Road

Leamington Spa

Warwickshire

CV31 1XT

REGISTERED NUMBER:

03469979 (England and Wales)

FIXED ASSETS

Intangible assets

4

3,764

5,646

Tangible assets

5

13,776

12,232

17,540

17,878

CURRENT ASSETS

Debtors

211,306

33,289

Cash at bank and in hand

5,680

49,954

216,986

83,243

CREDITORS

Amounts falling due within one year

163,551

37,476

NET CURRENT ASSETS

53,435

45,767

TOTAL ASSETS LESS CURRENT LIABILITIES

70,975

63,645

PROVISIONS FOR LIABILITIES

2,618

2,349

NET ASSETS

68,357

61,296

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

67,357

60,296

SHAREHOLDERS' FUNDS

68,357

61,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 December 2019 and were signed on its behalf by:

J Nottingham - Director

1.	STATUTORY INFORMATION

Offshore And Marine 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.

The company trades from premises at Unit C15b Holly Farm Business Park, Honiley, Warwickshire, CV8 1NP.

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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting

policies adopted in the preparation of the financial statements are set out below and have remained unchanged

from the previous year.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal

course of business. Revenue is recognised in respect of service contracts when the company obtains the right to

consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of eighteen years.

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

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% 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 5 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

and 31 March 2019

26,895

AMORTISATION

At 1 April 2018

21,249

Amortisation for year

1,882

At 31 March 2019

23,131

NET BOOK VALUE

At 31 March 2019

3,764

At 31 March 2018

5,646

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

34,918

Additions

6,083

At 31 March 2019

41,001

DEPRECIATION

At 1 April 2018

22,686

Charge for year

4,539

At 31 March 2019

27,225

NET BOOK VALUE

At 31 March 2019

13,776

At 31 March 2018

12,232

6.	PARENT UNDERTAKING

The company's ultimate parent undertaking is Gen2 Broking Holdings Limited, a company incorporated in

England and Wales whose registered office is Highdown House, 11 Highdown Road, Leamington Spa,

Warwickshire, CV31 1XT.