Hills Insurance Services Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: NI045537 (Northern Ireland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2018

FOR

HILLS INSURANCE SERVICES LTD

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

Mr D Hill

SECRETARY:

Mrs A Hill

REGISTERED OFFICE:

15 Agnew Street

LARNE

Co Antrim

BT40 1RF

REGISTERED NUMBER:

NI045537 (Northern Ireland)

ACCOUNTANTS:

Beattie Marcus & Co

Chartered Accountants

11 Point Street

Larne

BT40 1HY

BANKERS:

The Co-operative Bank

PO Box 250

Skelmersdale

WN8 6WT

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

23,648

12,013

23,648

12,013

CURRENT ASSETS

Debtors

7

94,682

121,496

Investments

8

478,386

231,623

Cash at bank

295,671

152,098

868,739

505,217

CREDITORS

Amounts falling due within one year

9

130,225

86,510

NET CURRENT ASSETS

738,514

418,707

TOTAL ASSETS LESS CURRENT LIABILITIES

762,162

430,720

PROVISIONS FOR LIABILITIES

2,393

2,282

NET ASSETS

759,769

428,438

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

759,759

428,428

SHAREHOLDERS' FUNDS

759,769

428,438

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2018 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 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 director on 17 May 2018 and were signed by:

Mr D Hill - Director

1.	STATUTORY INFORMATION

Hills Insurance Services Ltd is a private company, limited by shares , registered in Northern Ireland. The

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

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Commissions

Commissions and fees for independent financial advice are accounted for on an earnings basis.

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.

Plant and machinery etc

-

15% 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution scheme. Contributions are charged to the profit and loss account

in the period to which they relate.

Investments

Investments held as current assets are stated at fair value and any movement is recognised in the profit and loss

account .

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 6 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 6 April 2017

and 5 April 2018

30,000

AMORTISATION

At 6 April 2017

and 5 April 2018

30,000

NET BOOK VALUE

At 5 April 2018

-

At 5 April 2017

-

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 6 April 2017

33,241

Additions

14,009

At 5 April 2018

47,250

DEPRECIATION

At 6 April 2017

21,228

Charge for year

2,374

At 5 April 2018

23,602

NET BOOK VALUE

At 5 April 2018

23,648

At 5 April 2017

12,013

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

91,042

118,019

Other debtors

3,640

3,477

94,682

121,496

8.	CURRENT ASSET INVESTMENTS

2018

2017

£

£

Other

478,386

231,623

Investments are shown at fair value at 5 April 2018.

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

17,102

28,003

Taxation and social security

108,727

54,697

Other creditors

4,396

3,810

130,225

86,510

10.	CONTINGENT LIABILITIES

There are no contingent liabilities at the year end.

11.	CAPITAL COMMITMENTS

There are no major commitments either contracted or authorised but not contracted.

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 5 April 2018 and 5 April 2017:

2018

2017

£

£

Mr D Hill

Balance outstanding at start of year

2,551

5,394

Amounts advanced

-

2,551

Amounts repaid

(2,551

)

(5,394

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

2,551

13.	POST BALANCE SHEET EVENTS

There are no post balance sheet events which require provision and which have not already been reflected in the

financial statements.