Wrightsure Ins Srvs (North West) - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01693417 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

WRIGHTSURE INSURANCE SERVICES

(NORTH WEST) LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A Barton-Wright

Mrs A E Barton-Wright

R D Powell

Mrs S D Plampton

Ms V J Barton-Wright

P J Hesketh

P S Rimmer

Mrs A J Powell

SECRETARY:

Ms V J Barton-Wright

REGISTERED OFFICE:

Rutland House

90-92 Baxter Avenue

Southend on Sea

Essex

SS2 6HZ

REGISTERED NUMBER:

01693417 (England and Wales)

ACCOUNTANTS:

Goldwyns Limited

Chartered Accountants

Rutland House

90-92 Baxter Avenue

Southend on Sea

Essex

SS2 6HZ

FIXED ASSETS

Intangible assets

4

-

14,583

Tangible assets

5

28,939

23,200

28,939

37,783

CURRENT ASSETS

Debtors

1,212,078

1,032,331

Cash at bank

199,505

223,130

1,411,583

1,255,461

CREDITORS

Amounts falling due within one year

1,037,622

888,757

NET CURRENT ASSETS

373,961

366,704

TOTAL ASSETS LESS CURRENT LIABILITIES

402,900

404,487

PROVISIONS FOR LIABILITIES

2,407

444

NET ASSETS

400,493

404,043

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

390,493

394,043

400,493

404,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 November 2018 and were signed on its behalf by:

R D Powell - Director

1.	STATUTORY INFORMATION

Wrightsure Insurance Services (North West) 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 company's place of business is Liverpool.

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 represents brokerage and other commissions which are taken to credit when debit or fee

notes are issued irrespective of the inception date or period of insurance. Alterations in brokerage

arising from return premiums, additional premiums or adjustments are taken into account as and when

these occur.

Other operating income

Includes bank interest received on clients funds which the company is entitled to retain.

Goodwill

Goodwill represents the amount paid in connection with the acquisition of retail brokers in both 2005

and 2013, which is amortised over its estimated life of 5 years.

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.

Fixtures and fittings

-

at varying rates on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

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 41 (2017 - 42 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2017

and 30 June 2018

432,000

AMORTISATION

At 1 July 2017

417,417

Amortisation for year

14,583

At 30 June 2018

432,000

NET BOOK VALUE

At 30 June 2018

-

At 30 June 2017

14,583

The company's intangible assets relate to trading rights arising from the acquisitions in May 2005 and

February 2013 of retail general insurance brokers and where appropriate, their domain names.

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2017

262,578

Additions

27,575

Disposals

(15,866

)

At 30 June 2018

274,287

DEPRECIATION

At 1 July 2017

239,378

Charge for year

19,850

Eliminated on disposal

(13,880

)

At 30 June 2018

245,348

NET BOOK VALUE

At 30 June 2018

28,939

At 30 June 2017

23,200

6.	LEASING AGREEMENTS

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

2018

2017

£

£

Within one year

36,706

54,048

Between one and five years

-

24,143

36,706

78,191

7.	RELATED PARTY DISCLOSURES