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Company registration number: 05356494
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UNAUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
31 MARCH 2018
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ARLINGTON INSURANCE SERVICES LIMITED
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ARLINGTON INSURANCE SERVICES LIMITED
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COMPANY INFORMATION
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M O'Connell (resigned 6 June 2017)
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N J Coglan (appointed 1 August 2017)
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A J Wright (appointed 5 March 2018)
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ARLINGTON INSURANCE SERVICES LIMITED
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CONTENTS
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Statement of Financial Position
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Statement of Changes in Equity
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Notes to the Financial Statements
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ARLINGTON INSURANCE SERVICES LIMITED
REGISTERED NUMBER:05356494
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2018
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Fixed assets held for sale
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Capital redemption reserve
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
Page 1
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ARLINGTON INSURANCE SERVICES LIMITED
REGISTERED NUMBER:05356494
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2018
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 4 to 8 form part of these financial statements.
Page 2
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ARLINGTON INSURANCE SERVICES LIMITED
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2018
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Capital redemption reserve
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Comprehensive income for the year
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Comprehensive income for the year
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Shares redeemed during the year
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Page 3
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ARLINGTON INSURANCE SERVICES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
Arlington Insurance Services Limited is a private company limited by shares incorporated in the United Kingdom. The address of the registered office, which is also the principal place of business, is given on the company information page of these financial statements.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The turnover shown in the profit and loss account represents commissions receivable during the year in the normal course of business, net of trade discounts, VAT and other sales related taxes. Revenue is generated from the placement of insurance policies.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Amortisation is provided on the following bases:
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.
Page 4
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ARLINGTON INSURANCE SERVICES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
2.Accounting policies (continued)
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.
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Operating lease agreements
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Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
The company contributes to employees personal pension schemes. The assets of the schemes are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
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The average monthly number of employees, including directors, during the year was 11 (2017 - 10).
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Page 5
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ARLINGTON INSURANCE SERVICES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
Page 6
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ARLINGTON INSURANCE SERVICES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
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Charge for the year on owned assets
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Page 7
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ARLINGTON INSURANCE SERVICES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
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Commitments under operating leases
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At 31 March 2018 the Company had future minimum lease payments under non-cancellable operating leases as follows:
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Later than 1 year and not later than 5 years
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Page 8
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