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REGISTERED NUMBER: 06524561 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Insurance Solutions Group Limited

Insurance Solutions Group Limited (Registered number: 06524561)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Insurance Solutions Group Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D J Griffin
A W Walmsley
S R Charnock
R P Mulholland





SECRETARY: R P Mulholland





REGISTERED OFFICE: Solutions House
Fairways Office Park
Fulwood
Preston
Lancashire
PR2 9LF





REGISTERED NUMBER: 06524561 (England and Wales)





ACCOUNTANTS: Bennett Kirkhope Smith
Chartered Certified Accountants
Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB

Insurance Solutions Group Limited (Registered number: 06524561)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,471 6,132
Investments 5 4,991,508 4,991,608
4,995,979 4,997,740

CURRENT ASSETS
Debtors 6 464,554 465,728
Cash at bank 2,853 7,182
467,407 472,910
CREDITORS
Amounts falling due within one year 7 2,894,926 2,760,296
NET CURRENT LIABILITIES (2,427,519 ) (2,287,386 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,568,460

2,710,354

CAPITAL AND RESERVES
Called up share capital 9 105 105
Share premium 5,451,889 5,451,889
Capital redemption reserve 6 6
Retained earnings (2,883,540 ) (2,741,646 )
SHAREHOLDERS' FUNDS 2,568,460 2,710,354

Insurance Solutions Group Limited (Registered number: 06524561)

Balance Sheet - continued
31 December 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





D J Griffin - Director


Insurance Solutions Group Limited (Registered number: 06524561)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Insurance Solutions Group 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Insurance Solutions Group 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the term of the lease
Fixtures and fittings - 15% on cost

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

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 4 (2022 - 4 ) .

Insurance Solutions Group Limited (Registered number: 06524561)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 39,570 10,279 49,849
DEPRECIATION
At 1 January 2023 35,710 8,007 43,717
Charge for year 736 925 1,661
At 31 December 2023 36,446 8,932 45,378
NET BOOK VALUE
At 31 December 2023 3,124 1,347 4,471
At 31 December 2022 3,860 2,272 6,132

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 4,991,608
Disposals (100 )
At 31 December 2023 4,991,508
NET BOOK VALUE
At 31 December 2023 4,991,508
At 31 December 2022 4,991,608

Insurance Solutions Group Limited (Registered number: 06524561)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Lucas Claims Solutions Ltd 376,886 383,025
Service Solutions Direct Inspections
Ltd

4,009

-
Directors' current accounts 58,294 57,982
Tax 19,039 18,933
VAT 1,956 2,651
Prepayments 4,370 3,137
464,554 465,728

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 3,446 3,641
Corporation tax 105 3,502
Concept Building Solutions UK
Limited 1,790,309 1,755,663
Service Solutions Direct Ltd 969,457 863,902
Service Solutions Assist Limited 73,028 71,172
Surface Medic Limited 38,239 35,334
Service Solutions Direct Inspections
Ltd

-

6,740
Accruals and deferred income 20,342 20,342
2,894,926 2,760,296

8. SECURED DEBTS

There is an unlimited multilateral guarantee dated 23 June 2011 given by Concept Building Solutions UK Limited, Service Solutions Direct Ltd and Insurance Solutions Group Limited to secure the group overdraft facility with HSBC.

HSBC hold a fixed and floating charge over all of the assets of the company dated 11 May 2011.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
10,526 A Ordinary 1p 105 105

Insurance Solutions Group Limited (Registered number: 06524561)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
D J Griffin
Balance outstanding at start of year 54,764 47,658
Amounts advanced - 7,106
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 54,764 54,764

R P Mulholland
Balance outstanding at start of year 3,218 3,218
Amounts advanced 312 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,530 3,218

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

12. SHARE-BASED PAYMENT TRANSACTIONS

An option to purchase up to a total of 2326 A Ordinary shares at an exercise price of £0.01 a share is held by four directors. The option can only be exercised if an offer is made to purchase the issued share capital of the Company or if the Company undertakes to list on the London Stock Exchange. If not exercised the option will lapse on 31 October 2028.