Registered number
02192083
Invicta Insurance Services Limited
Filleted Accounts
31 December 2023
Invicta Insurance Services Limited
Registered number: 02192083
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 18,681 3,120
Current assets
Debtors 4 211,831 115,182
Cash at bank and in hand 44,933 32,998
256,764 148,180
Creditors: amounts falling due within one year 5 (54,606) (65,589)
Net current assets 202,158 82,591
Total assets less current liabilities 220,839 85,711
Creditors: amounts falling due after more than one year 6 (157,417) (56,295)
Net assets 63,422 29,416
Capital and reserves
Called up share capital 51,940 51,940
Share premium 185,304 185,304
Profit and loss account (173,822) (207,828)
Shareholders' funds 63,422 29,416
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Best
Director
Approved by the board on 24 February 2024
Invicta Insurance Services Limited
Notes to the Accounts
for the period from 1 July 2022 to 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value of fees, commisions and sundry income arising in respect of services provided to customers.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment over 3 years
Motor vehicles over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 14
3 Tangible fixed assets
Office equipment Motor vehicles Total
£ £ £
Cost
At 1 July 2022 45,552 4,995 50,547
Additions 10,795 15,000 25,795
Disposals - (4,995) (4,995)
At 31 December 2023 56,347 15,000 71,347
Depreciation
At 1 July 2022 45,552 1,875 47,427
Charge for the period 4,198 3,240 7,438
On disposals - (2,199) (2,199)
At 31 December 2023 49,750 2,916 52,666
Net book value
At 31 December 2023 6,597 12,084 18,681
At 30 June 2022 - 3,120 3,120
4 Debtors 2023 2022
£ £
Trade debtors 210,485 95,130
Other debtors 1,346 20,052
211,831 115,182
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 5,064 -
Corporation tax 4,836 -
Other creditors 44,706 65,589
54,606 65,589
6 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 117,417 56,295
Other creditors 40,000 -
157,417 56,295
Other creditors includes a subordinated loan of £40,000 with no fixed date of repayment
7 Other information
Invicta Insurance Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Invicta House
Amherst Hill
Riverhead
Kent
TN13 2EL
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