Direct Insurance Solutions Limited - Period Ending 2014-12-31
Direct Insurance Solutions Limited - Period Ending 2014-12-31
Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
Direct Insurance Solutions Limited
Contents
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The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.
Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Direct Insurance Solutions Limited
for the Year Ended 31 December 2014
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Direct Insurance Solutions Limited for the year ended 31 December 2014 set out on pages 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/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made solely to the Board of Directors of Direct Insurance Solutions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Direct Insurance Solutions Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Direct Insurance Solutions Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Direct Insurance Solutions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Direct Insurance Solutions Limited. You consider that Direct Insurance Solutions 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 accounts of Direct Insurance Solutions 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 accounts.
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Lumb Accountancy Services Limited
Chartered Certified Accountants
677 Burnley Road East
Lumb
Rossendale
Lancashire
BB4 9PG
18 September 2015
Direct Insurance Solutions Limited
(Registration number: 06483057)
Abbreviated Balance Sheet at 31 December 2014
Note |
2014
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2013
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders' deficit |
( |
( |
Approved by the director on
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Mr P S Galloway
Director
2
Direct Insurance Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued
Accounting policies |
Basis of preparation
Exemption from preparing group accounts
Turnover
Goodwill
Goodwill represents the cost of acquisition of the insurance portfolio of Equestrian Direct Insurance Services Limited. The cost of acquisition comprises the fair value of the agreed consideration paid or accrued and any other direct costs directly associated with the acquisition. Impairment of purchased goodwill is reviewed in accordance with FRS10.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
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Financial instruments
Direct Insurance Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued
Fixed assets |
Intangible assets
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Cost |
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At 1 January 2014 |
201,354 |
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At 31 December 2014 |
201,354 |
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Depreciation |
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At 1 January 2014 |
201,354 |
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At 31 December 2014 |
201,354 |
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Net book value |
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At 31 December 2014 |
- |
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At 31 December 2013 |
- |
Share capital |
Allotted, called up and fully paid shares
2014 |
2013 |
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No. |
£ |
No. |
£ |
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Control |
The company is controlled by