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Registration number: 08561343

Blackhawk Insurance Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Blackhawk Insurance Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Blackhawk Insurance Services Limited

Company Information

Directors

Mr Mark Antony Kemp

Mr David John Colman

Registered office

Suite 1
Chalkwell Lawns
648-656 London Road
Westcliff-on-Sea
Essex
SS0 9HR

Accountants

Paul Winston Limited
Chartered Accountants
Silver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

 

Blackhawk Insurance Services Limited

(Registration number: 08561343)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

fixed assets

 

tangible assets

4

39,912

7,768

Current assets

 

Debtors

5

119,709

173,904

Cash at bank and in hand

 

31,310

27,927

 

151,019

201,831

Creditors: Amounts falling due within one year

6

(100,671)

(145,053)

Net current assets

 

50,348

56,778

Net assets

 

90,260

64,546

capital and reserves

 

Called up share capital

7

3,000

3,000

Profit and loss account

87,260

61,546

Shareholders' funds

 

90,260

64,546

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Blackhawk Insurance Services Limited

(Registration number: 08561343)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 21 October 2024 and signed on its behalf by:
 

.........................................
Mr David John Colman
Director

 

Blackhawk Insurance Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
Suite 1
Chalkwell Lawns
648-656 London Road
Westcliff-on-Sea
Essex
SS0 9HR
England

These financial statements were authorised for issue by the Board on 21 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises 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 in the countries where the company operates and generates taxable income.

 

Blackhawk Insurance Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible 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

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:

Asset class

Depreciation method and rate

Leasehold improvements

20% on cost

Office equipment

20% net book value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Blackhawk Insurance Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 8).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

3,800

17,971

21,771

Additions

-

42,882

42,882

At 30 June 2024

3,800

60,853

64,653

Depreciation

At 1 July 2023

3,040

10,963

14,003

Charge for the year

760

9,978

10,738

At 30 June 2024

3,800

20,941

24,741

Carrying amount

At 30 June 2024

-

39,912

39,912

At 30 June 2023

760

7,008

7,768

Included within the net book value of land and buildings above is £Nil (2023 - £760) in respect of short leasehold land and buildings.
 

 

Blackhawk Insurance Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

115,197

169,392

Other debtors

4,512

4,512

 

119,709

173,904

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

19,729

30,054

trade creditors

 

71,091

102,052

Taxation and social security

 

9,836

10,071

Other creditors

 

15

2,876

 

100,671

145,053

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

3,000

3,000

3,000

3,000

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

19,729

30,054

9

Related party transactions

 

Blackhawk Insurance Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

24,000

30,000

Contributions paid to money purchase schemes

50,000

50,000

74,000

80,000