3 3 Services Family Ltd 09079706 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is the development of online specialist insurance services for members past and present of the armed forces. Digita Accounts Production Advanced 6.30.9574.0 true 09079706 2023-07-01 2024-06-30 09079706 2024-06-30 09079706 core:CurrentFinancialInstruments 2024-06-30 09079706 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 09079706 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 09079706 core:OtherResidualIntangibleAssets 2024-06-30 09079706 core:FurnitureFittingsToolsEquipment 2024-06-30 09079706 bus:SmallEntities 2023-07-01 2024-06-30 09079706 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 09079706 bus:FilletedAccounts 2023-07-01 2024-06-30 09079706 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09079706 bus:RegisteredOffice 2023-07-01 2024-06-30 09079706 bus:Director1 2023-07-01 2024-06-30 09079706 bus:Director2 2023-07-01 2024-06-30 09079706 bus:Director3 2023-07-01 2024-06-30 09079706 bus:Director4 2023-07-01 2024-06-30 09079706 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09079706 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 09079706 core:OtherResidualIntangibleAssets 2023-07-01 2024-06-30 09079706 core:ComputerEquipment 2023-07-01 2024-06-30 09079706 countries:England 2023-07-01 2024-06-30 09079706 2023-06-30 09079706 core:OtherResidualIntangibleAssets 2023-06-30 09079706 core:FurnitureFittingsToolsEquipment 2023-06-30 09079706 2022-07-01 2023-06-30 09079706 2023-06-30 09079706 core:CurrentFinancialInstruments 2023-06-30 09079706 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 09079706 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 09079706 core:OtherResidualIntangibleAssets 2023-06-30 xbrli:pure iso4217:GBP

Registration number: 09079706

Services Family Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Services Family Ltd

Directors' Report for the Year Ended 30 June 2024

The directors present their report and the financial statements for the year ended 30 June 2024.

Directors of the company

The directors who held office during the year were as follows:

D H Hodgkinson

M J Jenkins

J C Kilgour

T N O'Brien

Principal activity

The principal activity of the company is the development of online specialist insurance services for members past and present of the armed forces.

Going concern

Despite receipt of funds following the successful resolution of a legal claim during the year, the company's future remains dependant on finding appropriate insurance partners. Consolidation in the market is delaying progress. Therefore, the business has pivoted to explore consulting activity with a partner.

Minimal outgoings have been achieved and the company continues to seek opportunities to raise additional funds through the sale of underutilised assets. Therefore, the company is able to meet its liabilities for the foreseeable future while these proactive actions determine the best outcomes for the business and shareholders.

Small companies provision statement

This report has 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.

Approved by the Board on 24 March 2025 and signed on its behalf by:

.........................................
M J Jenkins
Director

 

Services Family Ltd

(Registration number: 09079706)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

9,000

18,000

Current assets

 

Debtors

7

4,429

53,947

Cash at bank and in hand

 

32,490

4,013

 

36,919

57,960

Creditors: Amounts falling due within one year

8

(121,292)

(113,688)

Net current liabilities

 

(84,373)

(55,728)

Total assets less current liabilities

 

(75,373)

(37,728)

Creditors: Amounts falling due after more than one year

8

(34,045)

(43,882)

Net liabilities

 

(109,418)

(81,610)

Capital and reserves

 

Called up share capital

319

319

Share premium reserve

987,907

987,907

Retained earnings

(1,097,644)

(1,069,836)

Shareholders' deficit

 

(109,418)

(81,610)

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 and 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 and Directors' Report.

Approved and authorised by the Board for issue on 24 March 2025 and signed on its behalf by:
 

.........................................

M J Jenkins

Director

 

Services Family Ltd

Notes to the 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:
22 St. Georges Street
Stamford
Lincolnshire
PE9 2BU
United Kingdom

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.

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.

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

Computer equipment

25% straight line

 

Services Family Ltd

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

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website development

5 years straight line

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Services Family Ltd

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

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

-

103

Amortisation expense

9,000

9,000

5

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 July 2023

36,000

36,000

At 30 June 2024

36,000

36,000

Amortisation

At 1 July 2023

18,000

18,000

Amortisation charge

9,000

9,000

At 30 June 2024

27,000

27,000

Carrying amount

At 30 June 2024

9,000

9,000

At 30 June 2023

18,000

18,000

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

2,448

2,448

At 30 June 2024

2,448

2,448

Depreciation

At 1 July 2023

2,448

2,448

At 30 June 2024

2,448

2,448

Carrying amount

At 30 June 2024

-

-

 

Services Family Ltd

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

7

Debtors

Current

2024
£

2023
£

Prepayments

-

1,947

Other debtors

4,429

52,000

 

4,429

53,947

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

6,936

-

Trade creditors

 

-

210

Amounts owed to related parties

112,989

110,239

Other creditors

 

1,367

3,239

 

121,292

113,688

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

34,045

43,882

Creditors due after more than one year include Bounce Back Loan of £34,045 (2023 - £43,882), which is guaranteed by the Government. Interest at 2.5% per annum is charged.