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REGISTERED NUMBER: 03904541















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

TRINITY INSURANCE SERVICES LIMITED

TRINITY INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 03904541)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TRINITY INSURANCE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: J D Weight
M H Austin
R L Ach





REGISTERED OFFICE: Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ





REGISTERED NUMBER: 03904541





AUDITORS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Statutory Auditors
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

TRINITY INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 03904541)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 279,552 346,169
Tangible assets 5 58,131 66,678
Investments 6 3,721 3,721
341,404 416,568

CURRENT ASSETS
Debtors 7 560,535 560,263
Cash at bank 137,196 98,394
697,731 658,657
CREDITORS
Amounts falling due within one year 8 421,323 420,497
NET CURRENT ASSETS 276,408 238,160
TOTAL ASSETS LESS CURRENT
LIABILITIES

617,812

654,728

PROVISIONS FOR LIABILITIES 9 39,989 113,181
NET ASSETS 577,823 541,547

CAPITAL AND RESERVES
Called up share capital 2,353,000 2,153,000
Retained earnings (1,775,177 ) (1,611,453 )
SHAREHOLDERS' FUNDS 577,823 541,547

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 3 September 2022 and were signed on its behalf by:





M H Austin - Director


TRINITY INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 03904541)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. ACCOUNTING POLICIES

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

The financial statements are presented in Sterling, which is also a functional currency of the company.

Going concern
The directors have assessed that the company has adequate resources to continue in operational existence for a minimum of 12 months from the date of signing the financial statements. This is on the basis that support will be provided by other group companies if necessary. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

Preparation of consolidated financial statements
The financial statements contain information about Trinity Insurance Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents insurance premiums received net of insurance premium tax and underwriting costs. Income is recognised on the date of renewal or the date of commencement of the insurance policy, whichever is earlier.

Intangible assets
Intangible assets are initially measured at cost. The initial split of which has been determined from the estimated relative fair values of the component parts. An unincorporated business was acquired in 2018 and the directors have made the best estimate of this split.

After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any
accumulated impairment losses.

The membership lists are amortised on a straight line basis over 5 or 10 years, depending on the estimated minimum useful economic life of the membership lists. Trade marks are amortised over the time to expiry of the trade mark, estimated to be 5 years. Computer software is amortised on a straight line basis over 3 years.

At the year end an impairment review was carried out which estimates the net present value of the profits derived from customers on the membership list. In the opinion of the directors this amount was considered to be higher than the amortised amount as at 31 December 2021.

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 - 10% on reducing balance
Computer equipment - 10-33% on reducing balance

Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


TRINITY INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 03904541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


1. ACCOUNTING POLICIES - continued
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 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. Current tax is not discounted.

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. Deferred taxation assets and liabilities are discounted at the Company's effective interest rate and recognised at the tax rates enacted or substantially enacted by the balance sheet date.

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.

Provision for liabilities
Provisions are recognised when the company has a present obligation as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is for clawback of commissions and is the best estimate of the number of life insurance policies to lapse in the clawback period of four years. The estimate has been based on historical data which has been updated during the current year.

Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS102
Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method
unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2020 - 28 ) .

3. AUDITORS' REMUNERATION
2021 2020
£ £
Fees payable to the company's auditors for the audit of the company's
financial statements

19,190

14,690

Included in auditor's remuneration for the year ended 31 December 2021 is £2,490 (2020 - £nil) in relation to the audit of the subsidiary, Affas Ltd, that was settled by Trinity Insurance Services Limited.

TRINITY INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 03904541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


4. INTANGIBLE FIXED ASSETS
Membership Computer
list Trade Marks software Totals
£ £ £ £
COST
At 1 January 2021 577,676 22,440 75,322 675,438
Additions - - 7,848 7,848
At 31 December 2021 577,676 22,440 83,170 683,286
AMORTISATION
At 1 January 2021 266,726 14,212 48,331 329,269
Amortisation for year 45,954 4,488 24,023 74,465
At 31 December 2021 312,680 18,700 72,354 403,734
NET BOOK VALUE
At 31 December 2021 264,996 3,740 10,816 279,552
At 31 December 2020 310,950 8,228 26,991 346,169

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 January 2021 4,059 114,694 118,753
Additions - 1,360 1,360
At 31 December 2021 4,059 116,054 120,113
DEPRECIATION
At 1 January 2021 1,022 51,053 52,075
Charge for year 304 9,603 9,907
At 31 December 2021 1,326 60,656 61,982
NET BOOK VALUE
At 31 December 2021 2,733 55,398 58,131
At 31 December 2020 3,037 63,641 66,678

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 January 2021
and 31 December 2021 3,721
NET BOOK VALUE
At 31 December 2021 3,721
At 31 December 2020 3,721

TRINITY INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 03904541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade debtors 217,699 220,760
Amounts owed by group undertakings 271,235 247,117
Other debtors 71,601 92,386
560,535 560,263

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade creditors 352,939 333,842
Taxation and social security 20,625 18,037
Other creditors 47,759 68,618
421,323 420,497

9. PROVISIONS FOR LIABILITIES
2021 2020
£ £
Other provisions 39,989 113,181

Commission
clawbacks
£
Balance at 1 January 2021 113,181
Provided during year 19,100
Credit to Income Statement during year (92,292 )
Balance at 31 December 2021 39,989

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sam Ede BFP FCA FCCA (Senior Statutory Auditor)
for and on behalf of Lewis Brownlee (Chichester) Limited

11. OPERATING LEASE COMMITMENTS

At 31 December 2021, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £42,838 (2020 - £184,854).

12. POST BALANCE SHEET EVENTS

After the balance sheet date, the company reduced its share capital by £269,387 by cancelling 269,387 ordinary shares of £1 each. There was then a further issue of 50,000 ordinary shares of £1 each, increasing the share capital by £50,000.