Assured Inheritance Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09500537 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2020

FOR

ASSURED INHERITANCE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D J Boothman

SECRETARY:

Mrs S Boothman

REGISTERED OFFICE:

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

REGISTERED NUMBER:

09500537 (England and Wales)

ACCOUNTANTS:

Ainsworths Limited

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

FIXED ASSETS

Tangible assets

4

54,282

1,467

CURRENT ASSETS

Debtors

5

1,909

1,759

Cash at bank

32,728

45,650

34,637

47,409

CREDITORS

Amounts falling due within one year

6

7,766

16,042

NET CURRENT ASSETS

26,871

31,367

TOTAL ASSETS LESS CURRENT LIABILITIES

81,153

32,834

CREDITORS

Amounts falling due after more than one year

7

(38,408

)

-

PROVISIONS FOR LIABILITIES

(10,314

)

(279

)

NET ASSETS

32,431

32,555

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

32,331

32,455

SHAREHOLDERS' FUNDS

32,431

32,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2020 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9th December 2020 and were signed by:

D J Boothman - Director

1.	STATUTORY INFORMATION

Assured Inheritance Ltd 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 receivable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2019

1,847

Additions

54,625

At 31st March 2020

56,472

DEPRECIATION

At 1st April 2019

380

Charge for year

1,810

At 31st March 2020

2,190

NET BOOK VALUE

At 31st March 2020

54,282

At 31st March 2019

1,467

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

52,990

At 31st March 2020

52,990

DEPRECIATION

Charge for year

1,104

At 31st March 2020

1,104

NET BOOK VALUE

At 31st March 2020

51,886

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Other debtors

1,909

1,759

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

4,582

-

Taxation and social security

2,075

15,021

Other creditors

1,109

1,021

7,766

16,042

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

38,408

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Hire purchase contracts

42,990

-

The hire purchase liability is secured on the asset to which it relates.