Spotlite Claims Limited
Annual Report and Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 07467956 (England and Wales)
Spotlite Claims Limited
Company Information
Directors
C M Jones
P Middelkoop
P K Scarrett
J N Eveling
(Appointed 9 August 2023)
R De Bruijn
(Appointed 9 August 2023)
Company number
07467956
Registered office
4 Victoria Square
St Albans
Hertfordshire
AL1 3TF
Spotlite Claims Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
Spotlite Claims Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
3,867
-
0
Tangible assets
5
20,227
25,453
24,094
25,453
Current assets
Debtors
6
363,063
418,967
Cash at bank and in hand
68,586
161,707
431,649
580,674
Creditors: amounts falling due within one year
7
(212,377)
(307,737)
Net current assets
219,272
272,937
Total assets less current liabilities
243,366
298,390
Provisions for liabilities
8
(6,023)
(6,363)
Net assets
237,343
292,027
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
237,243
291,927
Total equity
237,343
292,027

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Spotlite Claims Limited
Balance Sheet (Continued)
As at 31 December 2023
Page 2
The financial statements were approved by the board of directors and authorised for issue on 17 February 2025 and are signed on its behalf by:
C M Jones
Director
Company Registration No. 07467956
Spotlite Claims Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 3
1
Accounting policies
Company information

Spotlite Claims Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Victoria Square, St Albans, Hertfordshire, AL1 3TF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention.

1.2
Going concern

The directors confirm that the company's financial statements are prepared on atrue basis other than a going concern basis. The trade and assets were hived up at full net book values to the company's holding company on 1 January 2024. There were therefore no material adjustments required to these financial statements in relation to balances disclosed. There have been no activities in the company since 1 January 2024.

1.3
Turnover

Fee income represents revenue earned under a wide variety of contracts to provide professional services. For those fees where the company acts as agent, it represents a handling fee on claims from insurance companies. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to the consideration in exchange for its performance under these contracts. It is measured as the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

 

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of the work performed. Revenue not billed to clients is included in debtors as accrued income and payments on account in excess of the relevant amount of revenue are included in creditors as deferred income.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs
33% straight line
Spotlite Claims Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 4
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings leasehold
20% straight line
Fixtures, fittings and equipment
33% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

 

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Spotlite Claims Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 5
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Spotlite Claims Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 6
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
8
9
4
Intangible fixed assets
Development costs
£
Cost
At 1 January 2023
-
0
Additions
4,800
At 31 December 2023
4,800
Amortisation and impairment
At 1 January 2023
-
0
Amortisation charged for the year
933
At 31 December 2023
933
Carrying amount
At 31 December 2023
3,867
At 31 December 2022
-
0
Spotlite Claims Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 7
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
14,311
80,147
94,458
Additions
-
0
2,990
2,990
Disposals
-
0
(1,053)
(1,053)
At 31 December 2023
14,311
82,084
96,395
Depreciation and impairment
At 1 January 2023
14,311
54,694
69,005
Depreciation charged in the year
-
0
8,216
8,216
Eliminated in respect of disposals
-
0
(1,053)
(1,053)
At 31 December 2023
14,311
61,857
76,168
Carrying amount
At 31 December 2023
-
0
20,227
20,227
At 31 December 2022
-
0
25,453
25,453
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
91,979
101,520
Amounts owed by group undertakings
100,000
-
0
Other debtors
1,163
317,447
Prepayments and accrued income
169,921
-
0
363,063
418,967
Spotlite Claims Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 8
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
101,487
21,856
Amounts owed to group undertakings
-
0
50,994
Corporation tax
25,229
150,922
Other taxation and social security
34,311
-
0
Other creditors
2
83,965
Accruals and deferred income
51,348
-
0
212,377
307,737
8
Provisions for liabilities
2023
2022
£
£
Accelerated capital allowances
6,023
6,363
6,023
6,363
9
Called up share capital
2023
2022
£
£
Ordinary share capital
Authorised
100 Ordinary shares of £1 each
100
100
Issued and fully paid
100 Ordinary shares of £1 each
100
100
10
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2023
2022
£
£
Within one year
30,884
22,200
Between two and five years
-
0
30,884
30,884
53,084
Spotlite Claims Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 9
11
Related party transactions
Transactions with related parties

The company has taken the advantage of exemption, under the terms of the 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 within the group.

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