REASSURANCE SECURITY SERVICES LIMITED

Company Registration Number:
04816355 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2024

Period of accounts

Start date: 01 August 2023

End date: 31 July 2024

REASSURANCE SECURITY SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2024

Balance sheet
Notes

REASSURANCE SECURITY SERVICES LIMITED

Balance sheet

As at 31 July 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 12,888 2,600
Tangible assets: 4 178,383 94,313
Total fixed assets: 191,271 96,913
Current assets
Debtors:   335,404 398,003
Cash at bank and in hand: 88,288 58,824
Total current assets: 423,692 456,827
Creditors: amounts falling due within one year:   (187,679) (219,234)
Net current assets (liabilities): 236,013 237,593
Total assets less current liabilities: 427,284 334,506
Creditors: amounts falling due after more than one year:   (53,788) (75,068)
Total net assets (liabilities): 373,496 259,438
Capital and reserves
Called up share capital: 50,000 50,000
Profit and loss account: 323,496 209,438
Shareholders funds: 373,496 259,438

The notes form part of these financial statements

REASSURANCE SECURITY SERVICES LIMITED

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 May 2025
and signed on behalf of the board by:

Name: K M McGowan
Status: Director

The notes form part of these financial statements

REASSURANCE SECURITY SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover 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. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets and depreciation policy

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, using the straight-line method. Depreciation is provided on the following basis: Freehold property - 50 years Land and buildings - the remaining lease term Fixtures and fittings - 5 years Core network - 5 years 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 the Income Statement.

Intangible fixed assets and amortisation policy

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows: Development expenditure - 3 years Customer lists - 10 years Goodwill - 10 years

Other accounting policies

Going concern: The Company meets its day-to-day working capital requirements through its bank facilities. The current economic conditions continue to create uncertainty over (a) the level of demand for the Company’s services; and (b) the availability of bank finance for the foreseeable future. The Company’s forecasts and projections, taking account of a severe but plausible change in trading performance, show that the Company should be able to operate within the level of its current facilities. After making enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

REASSURANCE SECURITY SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

2. Employees

2024 2023
Average number of employees during the period 43 45

REASSURANCE SECURITY SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Intangible Assets

Total
Cost £
At 01 August 2023 2,600
Additions 15,000
Transfers (1,490)
At 31 July 2024 16,110
Amortisation
At 01 August 2023 0
Charge for year 3,222
At 31 July 2024 3,222
Net book value
At 31 July 2024 12,888
At 31 July 2023 2,600

REASSURANCE SECURITY SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Tangible Assets

Total
Cost £
At 01 August 2023 272,355
Additions 129,776
Transfers (1,110)
At 31 July 2024 401,021
Depreciation
At 01 August 2023 178,042
Charge for year 44,596
At 31 July 2024 222,638
Net book value
At 31 July 2024 178,383
At 31 July 2023 94,313

REASSURANCE SECURITY SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

5. Related party transactions

The Company has taken advantage of exemption, under terms of 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 companies. During the year ended 31 July 2024, the Company rented out office space to a company with common ultimate ownership. The rental income recognised in other operating income of £8,950. (2023;£nil) Key management personnel include all statutory Directors of the Company, and those employees included in the senior leadership team, who together have authority and responsibility for planning, directing and controlling the activities of the company. There have been no other related party transactions during the current or prior financial year.