Registered number
10527699
Casualty & General (UK) Limited
Filleted Accounts
31 December 2024
Casualty & General (UK) Limited
Registered number: 10527699
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 300,000 450,000
Current assets
Debtors 4 1,121 26,096
Cash at bank and in hand 2 2
1,123 26,098
Creditors: amounts falling due within one year 5 (172,573) (256,826)
Net current liabilities (171,450) (230,728)
Net assets 128,550 219,272
Capital and reserves
Called up share capital 2 2
Capital redemption reserve 657,470 647,696
Profit and loss account (528,922) (428,426)
Shareholders' funds 128,550 219,272
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D S Gibson
Director
Approved by the board on 1 April 2025
Casualty & General (UK) Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Insurance book of business:
Cost
At 1 January 2024 1,500,000
At 31 December 2024 1,500,000
Amortisation
At 1 January 2024 1,050,000
Provided during the year 150,000
At 31 December 2024 1,200,000
Net book value
At 31 December 2024 300,000
At 31 December 2023 450,000
The data base is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Debtors 2024 2023
£ £
Trade debtors 1,121 5,279
Other debtors - 20,817
1,121 26,096
5 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 157,516 237,767
Taxation and social security costs 12,747 16,839
Other creditors 2,310 2,220
172,573 256,826
6 Related party transactions
During the year commissions amounting to £68,949 (2023: £79,161) were receivable from Corin Underwriting Limited a previously wholly owned subsidiary of CG Holdings (Gibraltar) Limited, the parent company of Casualty & General (UK) Limited.

As at the balance sheet date Casualty & General Insurance Company (Europe) Limited was owed £157,516 (2023: £237,767) which related to loans made to Casualty & General (UK) Limited. The loan has been recognised at its Net Present Value as no interest is being charged. Transactions during the year related to loan repayments which amounted to £80,251 (2023: £73,474). An adjustment for the impairment value has been provided for and added to the Capital Redemption Reserve.

All transactions have been made at arms length.
7 Controlling party
The controlling party is the parent company, CG Holdings (Gibraltar) Limited.
8 Other information
Casualty & General (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Cumberland House
24-28 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ
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