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REGISTERED NUMBER: 00840234 (England and Wales)















F R Ball (Insurance) Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2023






F R Ball (Insurance) Ltd (Registered number: 00840234)






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


F R Ball (Insurance) Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P Wadsworth
R Stratton





REGISTERED OFFICE: 56 Frogmore Street
Abergavenny
Monmouthshire
NP7 5AR





REGISTERED NUMBER: 00840234 (England and Wales)





ACCOUNTANTS: O'Brien & Partners
Accountants & Business Advisors
11 New Street
Pontnewydd
Cwmbran
NP44 1EE

F R Ball (Insurance) Ltd (Registered number: 00840234)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 417,707 296,707
Tangible assets 5 136,560 121,255
Investments 6 3,741 3,741
558,008 421,703

CURRENT ASSETS
Debtors 7 2,349,092 2,037,358
Cash at bank 609,916 435,497
2,959,008 2,472,855
CREDITORS
Amounts falling due within one year 8 1,901,136 1,615,718
NET CURRENT ASSETS 1,057,872 857,137
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,615,880

1,278,840

CREDITORS
Amounts falling due after more than one year 9 (14,352 ) (48,507 )

PROVISIONS FOR LIABILITIES (20,834 ) (20,834 )
NET ASSETS 1,580,694 1,209,499

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,579,694 1,208,499
1,580,694 1,209,499

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.

F R Ball (Insurance) Ltd (Registered number: 00840234)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





P Wadsworth - Director


F R Ball (Insurance) Ltd (Registered number: 00840234)

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

1. STATUTORY INFORMATION

F R Ball (Insurance) 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.

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 0, is being amortised evenly over its estimated useful life of nil 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 5% on reducing balance
Fixtures and fittings - 20% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

F R Ball (Insurance) Ltd (Registered number: 00840234)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023 296,707
Additions 121,000
At 31 December 2023 417,707
NET BOOK VALUE
At 31 December 2023 417,707
At 31 December 2022 296,707

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 56,053 299,623 63,105 418,781
Additions - 37,400 - 37,400
At 31 December 2023 56,053 337,023 63,105 456,181
DEPRECIATION
At 1 January 2023 46,386 226,531 24,609 297,526
Charge for year 483 13,255 8,357 22,095
At 31 December 2023 46,869 239,786 32,966 319,621
NET BOOK VALUE
At 31 December 2023 9,184 97,237 30,139 136,560
At 31 December 2022 9,667 73,092 38,496 121,255

F R Ball (Insurance) Ltd (Registered number: 00840234)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 63,105
DEPRECIATION
At 1 January 2023 24,609
Charge for year 8,357
At 31 December 2023 32,966
NET BOOK VALUE
At 31 December 2023 30,139
At 31 December 2022 38,496

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 3,741
NET BOOK VALUE
At 31 December 2023 3,741
At 31 December 2022 3,741

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 841,823 868,382
Amounts owed by participating interests 1,382,266 1,087,665
Other debtors 125,003 81,311
2,349,092 2,037,358

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 64,578 62,922
Hire purchase contracts 23,830 10,774
Trade creditors 1,365,068 1,140,915
Taxation and social security 111,516 78,970
Other creditors 336,144 322,137
1,901,136 1,615,718

F R Ball (Insurance) Ltd (Registered number: 00840234)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 14,352 24,676
Hire purchase contracts - 23,831
14,352 48,507

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 23,830 34,605

The hire purchase liability is secured on the asset to which it relates.