Uk & Ireland Insurance Services (online) - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04239415 (England and Wales)

Unaudited Financial Statements

For The Year Ended

31 May 2018

for

UK & IRELAND INSURANCE SERVICES (ONLINE)

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTORS:

Mr M J Hoult

Mr J J Wrynne

Mr M Nugent

REGISTERED OFFICE:

The Stables

Old co-op Yard

Warwick Street

Manchester

Greater Manchester

M25 3HB

REGISTERED NUMBER:

04239415 (England and Wales)

ACCOUNTANTS:

Leavitt Walmsley Associates Limited

Chartered Certified Accountants

8 Eastway

Sale

Cheshire

M33 4DX

FIXED ASSETS

Intangible assets

4

80,709

85,385

Tangible assets

5

108

3,366

80,817

88,751

CURRENT ASSETS

Debtors

6

62,490

8,477

Cash at bank

65,619

84,352

128,109

92,829

CREDITORS

Amounts falling due within one year

7

48,943

59,937

NET CURRENT ASSETS

79,166

32,892

TOTAL ASSETS LESS CURRENT LIABILITIES

159,983

121,643

PROVISIONS FOR LIABILITIES

13,739

17,750

NET ASSETS

146,244

103,893

CAPITAL AND RESERVES

Called up share capital

9

2,000

2,000

Share premium

28,000

28,000

Retained earnings

116,244

73,893

SHAREHOLDERS' FUNDS

146,244

103,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 26 November 2018 and were signed on its behalf by:

Mr M Nugent - Director

1.	STATUTORY INFORMATION

Uk & Ireland Insurance Services (online) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

The company's policy of revenue recognition is to recognise a sale when the contractual obligations to the

customer have been fulfilled. For contracts where obligations to the customer have not been fulfilled, but have

been invoiced the sale is recognised within deferred income in current liabilities until such time a right to

consideration arises.

The total turnover of the company for the year has been derived from its principal activity wholly undertaken with

the United Kingdom.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

20% on cost

The company carries tangible fixed assets in the balance sheet using the depreciated historic cost method.

Carrying amounts of fixed assets in the company's balance sheet are shown net of depreciation charges and,

where applicable, provisions for impairment. Residual values of fixed assets are calculated on prices prevailing

at the balance sheet date. If the assets where of the age and condition expected at the end of their useful

economic lives. Profits or losses on the disposal of fixed assets are included in the calculation of profit for the

period.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual

provisions of the financial instrument.

Debtors

Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated

irrecoverable amounts are recognised in the profit and loss account when there is objective evidence that the

asset is impaired. Prepayments do not meet the definition of a financial instrument.

Cash and cash equivalents

These comprise cash at bank and other short-term, highly liquid bank deposits with an original maturity of three

months or less.

Creditors

Trade creditors are not interest bearing and are stated at their nominal value. Amounts in respect of taxation,

social security and accrued expenses do not meet the definition of a financial instrument.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account,

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 5 (2017 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 June 2017

147,679

Additions

31,075

At 31 May 2018

178,754

AMORTISATION

At 1 June 2017

62,294

Amortisation for year

35,751

At 31 May 2018

98,045

NET BOOK VALUE

At 31 May 2018

80,709

At 31 May 2017

85,385

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 June 2017

and 31 May 2018

26,802

DEPRECIATION

At 1 June 2017

23,436

Charge for year

3,258

At 31 May 2018

26,694

NET BOOK VALUE

At 31 May 2018

108

At 31 May 2017

3,366

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade debtors

2,218

4,593

Other debtors

60,272

3,049

Prepayments

-

835

62,490

8,477

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade creditors

41,016

53,276

Social security and other taxes

3,616

4,464

Other creditors

2,271

397

Accrued expenses

2,040

1,800

48,943

59,937

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.5.18

31.5.17

£

£

Within one year

9,600

8,282

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.18

31.5.17

value:

£

£

2,000

Ordinary

£1

2,000

2,000

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements

and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Uk & Ireland Insurance Services (online) Limited for the year ended 31 May 2018 which

comprise the Profit and loss account, Balance Sheet, Statement of Changes in Equity and the related notes 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/rulebook.

This report is made solely to the Board of Directors of Uk & Ireland Insurance Services (online) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Uk & Ireland Insurance Services (online) Limited and state those matters that we have agreed to state to the Board of Directors of Uk & Ireland Insurance Services (online) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Uk & Ireland Insurance Services (online) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Uk & Ireland Insurance Services (online) Limited. You consider that Uk & Ireland Insurance Services (online) 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 financial statements of Uk & Ireland Insurance Services (online) 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 financial statements.

Leavitt Walmsley Associates Limited

Chartered Certified Accountants

8 Eastway

Sale

Cheshire

M33 4DX

Date: .............................................