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INSURANCE TRAINING & MARKETING LIMITED

Registered Number
02751884
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

INSURANCE TRAINING & MARKETING LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

Nigel Kube

Company Secretary

KUBE, Nigel Dean

Registered Address

1 Spinney Close
Groby
Leicester
LE6 0BY

Registered Number

02751884 (England and Wales)
INSURANCE TRAINING & MARKETING LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets37,2009,600
Tangible assets478,65713,578
85,85723,178
Current assets
Debtors5212,939168,951
Cash at bank and on hand411,633382,306
624,572551,257
Creditors amounts falling due within one year6(235,061)(261,191)
Net current assets (liabilities)389,511290,066
Total assets less current liabilities475,368313,244
Creditors amounts falling due after one year7(3,878)-
Net assets471,490313,244
Capital and reserves
Called up share capital6060
Other reserves4040
Profit and loss account471,390313,144
Shareholders' funds471,490313,244
The financial statements were approved and authorised for issue by the Director on 19 December 2024, and are signed on its behalf by:
Nigel Kube
Director
Registered Company No. 02751884
INSURANCE TRAINING & MARKETING LIMITED
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-21
Plant and machinery20-
Vehicles20-
Office Equipment153
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year3820
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 August 2312,00012,000
At 31 July 2412,00012,000
Amortisation and impairment
At 01 August 232,4002,400
Charge for year2,4002,400
At 31 July 244,8004,800
Net book value
At 31 July 247,2007,200
At 31 July 239,6009,600
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 August 2318,8739,98125,86965,617120,340
Additions--78,37541478,789
At 31 July 2418,8739,981104,24466,031199,129
Depreciation and impairment
At 01 August 2317,9755,89319,19863,696106,762
Charge for year89881811,13785713,710
At 31 July 2418,8736,71130,33564,553120,472
Net book value
At 31 July 24-3,27073,9091,47878,657
At 31 July 238984,0886,6711,92113,578
5.Debtors: amounts due within one year

2024

2023

££
Other debtors211,194167,156
Prepayments and accrued income1,7451,795
Total212,939168,951
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,3723,921
Taxation and social security109,499127,389
Finance lease and HP contracts2,971-
Other creditors706381
Accrued liabilities and deferred income120,513129,500
Total235,061261,191
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts3,878-
Total3,878-