Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31false2023-08-01Insurance claim intermediary7875truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04415039 2023-08-01 2024-07-31 04415039 2022-08-01 2023-07-31 04415039 2024-07-31 04415039 2023-07-31 04415039 2022-08-01 04415039 c:Director1 2023-08-01 2024-07-31 04415039 c:Director2 2023-08-01 2024-07-31 04415039 d:PlantMachinery 2023-08-01 2024-07-31 04415039 d:PlantMachinery 2024-07-31 04415039 d:PlantMachinery 2023-07-31 04415039 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04415039 d:MotorVehicles 2023-08-01 2024-07-31 04415039 d:MotorVehicles 2024-07-31 04415039 d:MotorVehicles 2023-07-31 04415039 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04415039 d:OfficeEquipment 2023-08-01 2024-07-31 04415039 d:OfficeEquipment 2024-07-31 04415039 d:OfficeEquipment 2023-07-31 04415039 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04415039 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04415039 d:CurrentFinancialInstruments 2024-07-31 04415039 d:CurrentFinancialInstruments 2023-07-31 04415039 d:Non-currentFinancialInstruments 2024-07-31 04415039 d:Non-currentFinancialInstruments 2023-07-31 04415039 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 04415039 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 04415039 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 04415039 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 04415039 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-07-31 04415039 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 04415039 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-07-31 04415039 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 04415039 d:ShareCapital 2024-07-31 04415039 d:ShareCapital 2023-07-31 04415039 d:RetainedEarningsAccumulatedLosses 2024-07-31 04415039 d:RetainedEarningsAccumulatedLosses 2023-07-31 04415039 c:OrdinaryShareClass1 2023-08-01 2024-07-31 04415039 c:OrdinaryShareClass1 2024-07-31 04415039 c:OrdinaryShareClass1 2023-07-31 04415039 c:OrdinaryShareClass2 2023-08-01 2024-07-31 04415039 c:OrdinaryShareClass2 2024-07-31 04415039 c:OrdinaryShareClass2 2023-07-31 04415039 c:FRS102 2023-08-01 2024-07-31 04415039 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 04415039 c:FullAccounts 2023-08-01 2024-07-31 04415039 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04415039 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 04415039 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 04415039 2 2023-08-01 2024-07-31 04415039 e:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04415039









AUTO ACCIDENT CLAIMS LTD.








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
AUTO ACCIDENT CLAIMS LTD.
REGISTERED NUMBER: 04415039

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
112,132
124,370

Current assets
  

Debtors: amounts falling due within one year
 5 
842,724
589,642

Cash at bank and in hand
 6 
10,767
223,375

  
853,491
813,017

Creditors: amounts falling due within one year
 7 
(415,169)
(486,538)

Net current assets
  
 
 
438,322
 
 
326,479

Total assets less current liabilities
  
550,454
450,849

Creditors: amounts falling due after more than one year
 8 
(10,000)
(20,000)

Provisions for liabilities
  

Deferred tax
 10 
(24,004)
(25,219)

Net assets
  
516,450
405,630


Capital and reserves
  

Called up share capital 
 11 
200
200

Profit and loss account
  
516,250
405,430

  
516,450
405,630


Page 1

 
AUTO ACCIDENT CLAIMS LTD.
REGISTERED NUMBER: 04415039
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 March 2025.





P Tubby
M Robinson
Director
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
AUTO ACCIDENT CLAIMS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Auto Accident Claims Ltd. is a company limited by shares, incorporated in England, United Kingdom. The address of the registered office is Suite D, The Business Centre, Faringdon Avenue, Romford, Essex, RM3 8EN. The principal place of business is Sureland House, 1 Journeymans Way, Southend-on-Sea, SS2 5TF. The company's principal activity is that of automobile accident and recovery management services.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
AUTO ACCIDENT CLAIMS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
AUTO ACCIDENT CLAIMS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Motor vehicles
-
25%
Furniture, fittings and equipment
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
AUTO ACCIDENT CLAIMS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 78 (2023 -75).

Page 6

 
AUTO ACCIDENT CLAIMS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Furniture, fittings and equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2023
28,008
24,825
289,080
341,913


Additions
-
-
12,817
12,817


Disposals
-
(8,325)
-
(8,325)



At 31 July 2024

28,008
16,500
301,897
346,405



Depreciation


At 1 August 2023
23,189
15,296
179,058
217,543


Charge for the year on owned assets
723
1,212
18,437
20,372


Disposals
-
(3,642)
-
(3,642)



At 31 July 2024

23,912
12,866
197,495
234,273



Net book value



At 31 July 2024
4,096
3,634
104,402
112,132



At 31 July 2023
4,819
9,529
110,022
124,370

Page 7

 
AUTO ACCIDENT CLAIMS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
255,622
287,105

Amounts owed by group undertakings
539,817
251,053

Other debtors
3,950
3,245

Prepayments and accrued income
43,335
48,239

842,724
589,642



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
10,767
223,375



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
229,060
247,762

Corporation tax
28,586
37,695

Other taxation and social security
47,099
76,563

Other creditors
23,457
11,172

Accruals and deferred income
76,967
103,346

415,169
486,538


The bank facility is secured by:
Debenture dated 17 December 2013 over all assets of the company;
Unlimited inter-company guarantee between the company and Trasam Holdings Limited in favour of Barclays Bank Plc.

Page 8

 
AUTO ACCIDENT CLAIMS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
10,000
20,000


The bounce back loan is both interest and repayment free for the first twelve months. After such time the loan is repayable over 5 years at an interest rate of 2.5%.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
-
10,000


20,000
30,000



10.


Deferred taxation




2024
2023


£

£






At beginning of year
(25,219)
(16,373)


Released/(charged) to profit or loss
1,215
(8,846)



At end of year
(24,004)
(25,219)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(24,004)
(25,219)

Page 9

 
AUTO ACCIDENT CLAIMS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 -100) Ordinary shares of £1.00 each
100
100
100 (2023 -100) Ordinary A shares of £1.00 each
100
100

200

200


Ordinary A shares have no voting rights and are only entitled to a return of capital on a winding up. Ordinary shares  shall have voting rights and are entitled to participate fully in a winding up. Ordinary shares and Ordinary A shares have independent dividend rights.



12.


Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £48,611 (2023 - £46,550).Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors


13.


Related party transactions

As a 100% owned subsidiary of Trasam Holdings Limited, the company has availed themselves of exemption under FRS 102 paragraph 33.1A from disclosing transactions with group companies. 


14.


Controlling party

In the director's opinion the company's ultimate parent company and controlling party is Trasam Holdings Limited which is incorporated in England and Wales

 
Page 10