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REGISTERED NUMBER: 04319831 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

ALLIED INSURANCE SERVICES LIMITED

ALLIED INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04319831)






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


ALLIED INSURANCE SERVICES LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







Director: Mr A J Lindley





Registered office: Allied House
98 Standishgate
Wigan
Lancashire
WN1 1XA





Registered number: 04319831 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

ALLIED INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04319831)

Balance Sheet
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 551,368 588,705
Investments 5 118,700 118,700
670,068 707,405

CURRENT ASSETS
Debtors 6 250,448 305,295
Cash at bank and in hand 1,152,706 984,761
1,403,154 1,290,056
CREDITORS
Amounts falling due within one year 7 628,232 729,472
NET CURRENT ASSETS 774,922 560,584
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,444,990

1,267,989

CREDITORS
Amounts falling due after more than one year 8 - (38,020 )

PROVISIONS FOR LIABILITIES 10 (69,973 ) (61,434 )
NET ASSETS 1,375,017 1,168,535

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 1,374,017 1,167,535
SHAREHOLDERS' FUNDS 1,375,017 1,168,535

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.

ALLIED INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04319831)

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 22 April 2024 and were signed by:





Mr A J Lindley - Director


ALLIED INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04319831)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Allied Insurance Services 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.

Turnover
Turnover comprises of the commission earned on business written by the company in the year once the premium has been accepted by the insurance company, with provision being made for any policies which may subsequently be cancelled. On average, it is deemed that 50% of the commission is earned on acceptance of the contract, with 50% being deferred over the period of the contract to cover the ongoing maintenance and claims management of the contract.

Deferred income arises on the proportion of the insurance commission deemed related to the ongoing maintenance and claims management of the policy. This is released over the life of the policy.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% straight line
Computer equipment - 33% on reducing balance

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

Hire purchase and leasing commitments
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 10 (2022 - 10 ) .

ALLIED INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04319831)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 661,418 170,277 247,191 74,166 1,153,052
Additions - 441 - 1,498 1,939
At 31 December 2023 661,418 170,718 247,191 75,664 1,154,991
DEPRECIATION
At 1 January 2023 168,657 135,985 187,775 71,930 564,347
Charge for year 13,228 5,210 19,607 1,231 39,276
At 31 December 2023 181,885 141,195 207,382 73,161 603,623
NET BOOK VALUE
At 31 December 2023 479,533 29,523 39,809 2,503 551,368
At 31 December 2022 492,761 34,292 59,416 2,236 588,705

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 118,700
NET BOOK VALUE
At 31 December 2023 118,700
At 31 December 2022 118,700

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 200,887 185,916
Amounts owed by associates 30,000 112,109
Other debtors 19,561 7,270
250,448 305,295

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 28,039
Trade creditors 302,768 301,552
Taxation and social security 100,871 68,882
Other creditors 224,593 330,999
628,232 729,472

ALLIED INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 04319831)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 38,020

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans - 66,059

The director has provided a personal guarantee of £100,000 in relation to the company's bank overdraft facility.

A legal charge exists over 98 Standishgate, Wigan on all monies due or to become due from the company to the chargee, dated 21 November 2019 in favour of Clydesdale Bank plc.

A debenture exists placing a fixed and floating charge over the undertaking and all property and assets present and future, on all monies due or to become due from the company to the chargee, dated 21 November 2019 in favour of Clydesdale Bank plc.

The hire purchase liabilities are secured on the assets concerned.

Charges have been satisfied on 20th June 2023

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 69,973 61,434

Deferred
tax
£   
Balance at 1 January 2023 61,434
Provided during year 8,539
Balance at 31 December 2023 69,973

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary £1 1,000 1,000