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Registration number: 06040578

Ntegrity Insurance Solutions Limited

Filleted Financial Statements

for the Period from 1 November 2022 to 31 December 2023

Pages for filing with Registrar

 

Ntegrity Insurance Solutions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Ntegrity Insurance Solutions Limited

Company Information

Directors

G D Horswell

B R K Leah

T L Price

I Richards

J W Woollam

Registered office

C/O Hayes Parsons Limited Beacon Tower
Colston Street
Bristol
BS1 4XE

Registered number

06040578

Auditors

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Ntegrity Insurance Solutions Limited

(Registration number: 06040578)
Balance Sheet as at 31 December 2023

Note

31 December
2023
£

31 October
2022
£

Fixed assets

 

Tangible assets

4

4,122

5,950

Current assets

 

Debtors

5

693,778

344,471

Cash at bank and in hand

 

1,242,044

987,030

 

1,935,822

1,331,501

Creditors: Amounts falling due within one year

6

(1,029,892)

(506,258)

Net current assets

 

905,930

825,243

Total assets less current liabilities

 

910,052

831,193

Provisions for liabilities

(862)

(862)

Net assets

 

909,190

830,331

Capital and reserves

 

Called up share capital

7

672,830

672,830

Profit and loss account

236,360

157,501

Total equity

 

909,190

830,331

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 13 August 2024 and signed on its behalf by:
 

.........................................

J W Woollam
Director

 

Ntegrity Insurance Solutions Limited

Notes to the Financial Statements for the Period from 1 November 2022 to 31 December 2023

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Hayes Parsons Limited Beacon Tower
Colston Street
Bristol
BS1 4XE

2

Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. Given the company's profitability and financial resources, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Disclosure of long or short period

These financial statements have been prepared for the extended period from 1 November 2022 to 31 December 2023, to align the period end with that of the parent company.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable. Revenue in relation to the arrangement of insurance is recognised on the effective date of the insurance policy.

 

Ntegrity Insurance Solutions Limited

Notes to the Financial Statements for the Period from 1 November 2022 to 31 December 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Furniture, fixtures and fittings

20% straight line per annum

Computer equipment

33% straight line per annum

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

Trade debtors

Insurance debtors are recognised initially at the transaction price. They are subsequently measured less any provision for impairment. A provision for the impairment of insurance debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Ntegrity Insurance Solutions Limited

Notes to the Financial Statements for the Period from 1 November 2022 to 31 December 2023

Trade creditors

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits, including the cost of any unused holiday entitlement, are recognised as a liability and an expense in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 7 (2022 - 7).

 

Ntegrity Insurance Solutions Limited

Notes to the Financial Statements for the Period from 1 November 2022 to 31 December 2023

4

Tangible fixed assets

Computer equipment
 £

Furniture,
fixtures and
fittings
 £

Total
£

Cost

At 1 November 2022

48,398

18,867

67,265

Additions

1,849

-

1,849

At 31 December 2023

50,247

18,867

69,114

Depreciation

At 1 November 2022

43,371

17,944

61,315

Charge for the period

3,431

246

3,677

At 31 December 2023

46,802

18,190

64,992

Carrying amount

At 31 December 2023

3,445

677

4,122

At 31 October 2022

5,027

923

5,950

5

Debtors: amounts falling due within one year

Note

31 December
2023
£

31 October
2022
£

Amounts relating to insurance contracts

 

16,430

323,911

Amounts owed by group undertakings

663,271

-

Prepayments

 

14,077

20,560

 

693,778

344,471

 

Ntegrity Insurance Solutions Limited

Notes to the Financial Statements for the Period from 1 November 2022 to 31 December 2023

6

Creditors

Note

31 December
2023
£

31 October
2022
£

Amounts falling due within one year

 

Amounts relating to insurance contracts

 

824,513

357,979

Amounts owed to group undertakings

2,873

-

Taxation and social security

 

11,200

-

Other creditors

 

-

2,074

Accruals

 

168,411

94,437

Corporation tax

 

22,895

51,768

 

1,029,892

506,258

7

Share capital

Allotted, called up and fully paid shares

 

31 December
2023

31 October
2022

 

No.

£

No.

£

Ordinary shares of £1 each

672,830

672,830

672,830

672,830

         

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

31 December
2023
£

31 October
2022
£

2,400

24,000

 

Ntegrity Insurance Solutions Limited

Notes to the Financial Statements for the Period from 1 November 2022 to 31 December 2023

9

Audit report

As the profit and loss account has been omitted from the filing copy of the financial statements the following information is in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The Independent Auditor's Report was unqualified.
The name of the Senior Statutory Auditor who signed the audit report 13 August 2024 was Stuart Crisp BSc FCA.
• The auditor was Corrigan Accountants Limited.