Underwriting & General Insurance Service - Accounts to registrar (filleted) - small 18.2
Underwriting & General Insurance Service - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNDERWRITING & GENERAL INSURANCE |
| SERVICES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| UNDERWRITING & GENERAL INSURANCE |
| SERVICES LIMITED (REGISTERED NUMBER: 04013173) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| UNDERWRITING & GENERAL INSURANCE |
| SERVICES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Sterling House |
| Fulbourne Road |
| Walthamstow |
| London |
| E17 4EE |
| UNDERWRITING & GENERAL INSURANCE |
| SERVICES LIMITED (REGISTERED NUMBER: 04013173) |
| BALANCE SHEET |
| 31 DECEMBER 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| 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. |
| UNDERWRITING & GENERAL INSURANCE |
| SERVICES LIMITED (REGISTERED NUMBER: 04013173) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2017 |
| 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 |
| UNDERWRITING & GENERAL INSURANCE |
| SERVICES LIMITED (REGISTERED NUMBER: 04013173) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| 1. | STATUTORY INFORMATION |
| Underwriting & General Insurance Services Limited is a |
| 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 |
| Turnover |
| Turnover represents gross commission and service charges receivable, which is recognised as income once the |
| policy is issued. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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 |
| UNDERWRITING & GENERAL INSURANCE |
| SERVICES LIMITED (REGISTERED NUMBER: 04013173) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2017 |
| and 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for year |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Due to insurance companies | 173,515 | 107,840 |
| Amounts owed to group undertakings |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Directors' loan accounts | 416 | 176 |
| Accruals and deferred income |
| 7. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax | - | 855 |
| UNDERWRITING & GENERAL INSURANCE |
| SERVICES LIMITED (REGISTERED NUMBER: 04013173) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| 7. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2017 |
| Accelerated capital allowances | (855 | ) |
| Balance at 31 December 2017 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 9. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2017 |
| Deficit for the year | ( |
) |
| At 31 December 2017 |
| 10. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 (Section |
| 1A) 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related |
| party transactions with wholly owned subsidiaries within the group. |
| The bank overdraft is secured by personal guarantees given by the directors for £10,000. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by IPS Terroni Insurance Services Limited, by virtue of holding the entire ordinary |
| share capital of the company. There is no overall control of IPS Terroni Insurance Services Limited by any one |
| person. |