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REGISTERED NUMBER: 07051676 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 January 2023

for

AMICUS INSURANCE SOLUTIONS LTD

AMICUS INSURANCE SOLUTIONS LTD (REGISTERED NUMBER: 07051676)

Contents of the Financial Statements
for the year ended 31 January 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


AMICUS INSURANCE SOLUTIONS LTD

Company Information
for the year ended 31 January 2023







Director: A Scott





Registered office: Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA





Registered number: 07051676 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Amicus Insurance Solutions Ltd


The following reproduces the text of the report prepared for the director 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 Statement of Comprehensive Income and certain other primary statements and the Director's Report 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 Amicus Insurance Solutions Ltd for the year ended 31 January 2023 which comprise the Statement of Comprehensive Income, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Amicus Insurance Solutions Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Amicus Insurance Solutions Ltd and state those matters that we have agreed to state to the director of Amicus Insurance Solutions Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Amicus Insurance Solutions Ltd and its director for our work or for this report.

It is your duty to ensure that Amicus Insurance Solutions Ltd 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 Amicus Insurance Solutions Ltd. You consider that Amicus Insurance Solutions Ltd 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 Amicus Insurance Solutions Ltd. 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.






Haines Watts
Chartered Accountants
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA


23 October 2023

AMICUS INSURANCE SOLUTIONS LTD (REGISTERED NUMBER: 07051676)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 34,811 41,250
Investments 6 100 100
34,911 41,350

Current assets
Debtors 7 1,003,732 651,930
Cash at bank and in hand 612,036 474,583
1,615,768 1,126,513
Creditors
Amounts falling due within one year 8 366,081 321,454
Net current assets 1,249,687 805,059
Total assets less current liabilities 1,284,598 846,409

Creditors
Amounts falling due after more than one
year

9

(112,500

)

(162,500

)

Provisions for liabilities 11 (6,614 ) (7,838 )
Net assets 1,165,484 676,071

Capital and reserves
Called up share capital 12 25,000 25,000
Retained earnings 1,140,484 651,071
Shareholders' funds 1,165,484 676,071

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

AMICUS INSURANCE SOLUTIONS LTD (REGISTERED NUMBER: 07051676)

Balance Sheet - continued
31 January 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 23 October 2023 and were signed by:





A Scott - Director


AMICUS INSURANCE SOLUTIONS LTD (REGISTERED NUMBER: 07051676)

Notes to the Financial Statements
for the year ended 31 January 2023


1. Statutory information

Amicus Insurance Solutions Ltd 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 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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of seven 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 - 25% on cost
Computer equipment - 25% on cost

AMICUS INSURANCE SOLUTIONS LTD (REGISTERED NUMBER: 07051676)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


2. Accounting policies - continued

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

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

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 20 (2022 - 19 ) .

AMICUS INSURANCE SOLUTIONS LTD (REGISTERED NUMBER: 07051676)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


4. Intangible fixed assets
Goodwill
£   
Cost
At 1 February 2022
and 31 January 2023 350,000
Amortisation
At 1 February 2022
and 31 January 2023 350,000
Net book value
At 31 January 2023 -
At 31 January 2022 -

5. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 February 2022 27,916 75,743 103,659
Additions 797 7,559 8,356
At 31 January 2023 28,713 83,302 112,015
Depreciation
At 1 February 2022 6,393 56,016 62,409
Charge for year 6,182 8,613 14,795
At 31 January 2023 12,575 64,629 77,204
Net book value
At 31 January 2023 16,138 18,673 34,811
At 31 January 2022 21,523 19,727 41,250

6. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 February 2022
and 31 January 2023 100
Net book value
At 31 January 2023 100
At 31 January 2022 100

AMICUS INSURANCE SOLUTIONS LTD (REGISTERED NUMBER: 07051676)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 352,970 350,155
Amounts owed by group undertakings 408,623 208,623
Other debtors 242,139 93,152
1,003,732 651,930

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 50,000 50,000
Trade creditors - 7,666
Taxation and social security 251,760 201,631
Other creditors 64,321 62,157
366,081 321,454

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 112,500 162,500

10. Secured debts

The bank borrowings of the holding company, Amicus Solutions Holdings Limited are secured by way of a fixed and floating charge over al the assets of the Company.

11. Provisions for liabilities
2023 2022
£    £   
Deferred tax 6,614 7,838

Deferred
tax
£   
Balance at 1 February 2022 7,838
Accelerated capital allowances (1,224 )
Balance at 31 January 2023 6,614

AMICUS INSURANCE SOLUTIONS LTD (REGISTERED NUMBER: 07051676)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
22,500 'A' Ordinary £1 22,500 22,500
2,500 'B' Ordinary £1 2,500 2,500
25,000 25,000

13. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
£    £   
A Scott
Balance outstanding at start of year 73,922 73,922
Amounts advanced 90,196 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 164,118 73,922

14. Ultimate controlling party

A Scott is the ultimate controlling party by virtue of him owning 81.73% of the shares in Amicus Solutions Holdings Limited, the Company's holding company.