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REGISTERED NUMBER: 06501327 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Service Solutions Direct Ltd

Service Solutions Direct Ltd (Registered number: 06501327)

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


Service Solutions Direct Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: D J Griffin





SECRETARY: R P Mulholland





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





REGISTERED NUMBER: 06501327 (England and Wales)





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

Service Solutions Direct Ltd (Registered number: 06501327)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,734 44,514

CURRENT ASSETS
Debtors 5 3,285,471 3,330,308
Cash at bank and in hand 2,188 10,632
3,287,659 3,340,940
CREDITORS
Amounts falling due within one year 6 2,104,032 2,133,220
NET CURRENT ASSETS 1,183,627 1,207,720
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,228,361

1,252,234

CREDITORS
Amounts falling due after more than
one year

7

96,468

134,978
NET ASSETS 1,131,893 1,117,256

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 1,131,892 1,117,255
SHAREHOLDERS' FUNDS 1,131,893 1,117,256

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 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.

Service Solutions Direct Ltd (Registered number: 06501327)

Balance Sheet - continued
31 December 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





D J Griffin - Director


Service Solutions Direct Ltd (Registered number: 06501327)

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


1. STATUTORY INFORMATION

Service Solutions Direct 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 30% on cost
Computer equipment - 20% on cost

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Service Solutions Direct Ltd (Registered number: 06501327)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 57,122 23,343 71,573 196,402 348,440
Additions - - 27,599 6,865 34,464
At 31 December 2023 57,122 23,343 99,172 203,267 382,904
DEPRECIATION
At 1 January 2023 48,615 16,811 46,519 191,981 303,926
Charge for year 3,533 4,314 21,157 5,240 34,244
At 31 December 2023 52,148 21,125 67,676 197,221 338,170
NET BOOK VALUE
At 31 December 2023 4,974 2,218 31,496 6,046 44,734
At 31 December 2022 8,507 6,532 25,054 4,421 44,514

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 26,382
Additions 27,599
At 31 December 2023 53,981
DEPRECIATION
At 1 January 2023 12,532
Charge for year 11,195
At 31 December 2023 23,727
NET BOOK VALUE
At 31 December 2023 30,254
At 31 December 2022 13,850

Service Solutions Direct Ltd (Registered number: 06501327)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 664,156 586,454
Provision for bad debts (16,347 ) (14,947 )
Other debtors 6,315 12,935
Concept Building Solutions UK
Limited 1,068,363 1,459,583
Insurance Solutions Group Limited 969,457 863,902
Surface Medic Limited 266,920 152,178
Service Solutions Direct Inspections
Limited

258,304

176,568
Prepayments 68,303 93,635
3,285,471 3,330,308

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 289,764 165,836
Hire purchase contracts (see note 8)
9,152

4,649
Payments on account - 9,928
Trade creditors 455,833 355,548
Social security and other taxes 12,885 28,684
VAT 47,422 130,383
Other creditors 8,328 2,524
Service Solutions Assist Limited 274,439 381,990
Lucas Claims Solutions Limited 726,830 718,151
Accruals and deferred income 279,379 335,527
2,104,032 2,133,220

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 50,000 50,000
Bank loans - 2-5 years 29,167 79,167
Hire purchase contracts (see note 8)
17,301

5,811
96,468 134,978

Service Solutions Direct Ltd (Registered number: 06501327)

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


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 9,152 4,649
Between one and five years 17,301 5,811
26,453 10,460

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 12,081 31,186
Between one and five years - 13,942
12,081 45,128

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 239,764 115,836
Hire purchase contracts 26,453 10,460
266,217 126,296

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 also hold a debenture creating a first fixed and floating charge over any assets of the company.

The finance lease and hire purchase creditors are secured on the asset to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1

Service Solutions Direct Ltd (Registered number: 06501327)

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


11. RELATED PARTY DISCLOSURES

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 of the company.

12. ULTIMATE CONTROLLING PARTY

The Company is 100% owned by its immediate parent Insurance Solutions Group Limited.
The companies share a registered office. There is no ultimate controlling party.