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REGISTERED NUMBER: 01142788 (England and Wales)








INSURANCE SERVICES (SURREY) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






INSURANCE SERVICES (SURREY) LIMITED (REGISTERED NUMBER: 01142788)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

INSURANCE SERVICES (SURREY) LIMITED

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: B M Butler
P T Macbeth





SECRETARY: P T Macbeth





REGISTERED OFFICE: 2nd Floor
Nucleus House
2 Lower Mortlake Road
Richmond
TW9 2JA





REGISTERED NUMBER: 01142788 (England and Wales)





ACCOUNTANTS: Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR

INSURANCE SERVICES (SURREY) LIMITED (REGISTERED NUMBER: 01142788)

BALANCE SHEET
31 December 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 17,146 18,615
Investments 5 981 1,401
18,127 20,016

CURRENT ASSETS
Debtors 6 143,513 179,916
Cash at bank 583,418 519,876
726,931 699,792
CREDITORS
Amounts falling due within one year 7 (79,457 ) (159,446 )
NET CURRENT ASSETS 647,474 540,346
TOTAL ASSETS LESS CURRENT LIABILITIES 665,601 560,362

PROVISIONS FOR LIABILITIES (4,280 ) -
NET ASSETS 661,321 560,362

CAPITAL AND RESERVES
Called up share capital 9 35 35
Share premium 405 405
Capital redemption reserve 70 70
Retained earnings 660,811 559,852
SHAREHOLDERS' FUNDS 661,321 560,362

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

INSURANCE SERVICES (SURREY) LIMITED (REGISTERED NUMBER: 01142788)

BALANCE SHEET - continued
31 December 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2025 and were signed on its behalf by:





P T Macbeth - Director


INSURANCE SERVICES (SURREY) LIMITED (REGISTERED NUMBER: 01142788)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024


1. STATUTORY INFORMATION

Insurance Services (Surrey) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 (FRS 102 1A) "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Significant accounting estimates and judgements
The directors have considered the criteria for the recognition of revenue from the supply of services as set out in FRS 102. In particular, whether the company can estimate the amount of revenue, that probable economic benefits associated with the transaction will flow to the company and that the stage of completion can be measured reliably.

Turnover
Turnover represents commissions receivable on insurance services provided to customers. Turnover is shown net of commissions paid to third parties.

Commissions have been included in the financial statements based on the amounts receivable in respect of insurance transactions placed on risk throughout the year.

Tangible fixed assets
Tangible assets are stated at cost less accumulated depreciation. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings- 25% on a reducing balance basis
Computer equipment- 25% on a straight line basis

On disposal the difference between the net proceeds and carrying amount of the item sold is recognised in profit or loss, and included in administrative expenses.

Financial instruments
Financial instruments are classified as basic or non-basic following the conditions in FRS 102 Section 11. Basic financial instruments are initially measured at transaction price (including transaction cost) and subsequently recognised at amortised cost using the effective interest method. The company has no non-basic financial instruments.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

Current tax
Current tax is the amount of corporation tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the year end.


INSURANCE SERVICES (SURREY) LIMITED (REGISTERED NUMBER: 01142788)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

Brokerage
Insurance debtors and creditors are shown on a net settlement basis in the financial statements rather than separately.

Investments
Long term investments are classified as fixed assets and are stated at fair value.

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 January 2024 45,844
Additions 6,540
Disposals (4,734 )
At 31 December 2024 47,650
DEPRECIATION
At 1 January 2024 27,229
Charge for year 8,009
Eliminated on disposal (4,734 )
At 31 December 2024 30,504
NET BOOK VALUE
At 31 December 2024 17,146
At 31 December 2023 18,615

INSURANCE SERVICES (SURREY) LIMITED (REGISTERED NUMBER: 01142788)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


5. FIXED ASSET INVESTMENTS
Other
investments
£
COST OR VALUATION
At 1 January 2024 1,401
Revaluations (420 )
At 31 December 2024 981
NET BOOK VALUE
At 31 December 2024 981
At 31 December 2023 1,401

Cost or valuation at 31 December 2024 is represented by:

Other
investments
£
Valuation in 2024 981

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Net insurance debtor 47,817 52,759
Other debtors 95,696 127,157
143,513 179,916

At the year end the breakdown of insurance broking assets and liabilities were as follows:-


20242023
££
Client bank account289,222323,181
Insurance debtors306,397331,460
Insurance creditors(547,802)(601,882)
Net insurance debtor47,81752,759

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors - 44
Taxation and social security 46,860 52,162
Other creditors 32,597 107,240
79,457 159,446

INSURANCE SERVICES (SURREY) LIMITED (REGISTERED NUMBER: 01142788)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 21,498 13,230
Between one and five years - 41,895
21,498 55,125

The lease was surrendered following the year end on 31 January 2025 and the full commitment is disclosed as payable in one year.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
35 Ordinary £1 35 35

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension charge amounted to £35,885 (2023: £34,255). There were no pension commitments not included in the balance sheet at the end of the financial year.

11. POST BALANCE SHEET EVENTS

On the 31 January 2025 M.S. Macbeth Limited acquired 100% of the ordinary share capital of the company.

12. ULTIMATE CONTROLLING PARTY

During the year the company was controlled by P Sambrook by virtue of his majority shareholding. This ceased on 31 January 2025.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
INSURANCE SERVICES (SURREY) LIMITED (REGISTERED NUMBER: 01142788)


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Insurance Services (Surrey) Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Insurance Services (Surrey) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Insurance Services (Surrey) Limited and state those matters that we have agreed to state to the Board of Directors of Insurance Services (Surrey) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Insurance Services (Surrey) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Insurance Services (Surrey) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Insurance Services (Surrey) Limited. You consider that Insurance Services (Surrey) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Insurance Services (Surrey) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Directors which obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.






Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR


12 May 2025