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REGISTERED NUMBER: 06917387 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Wilson Insurance Services Limited

Wilson Insurance Services Limited (Registered number: 06917387)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wilson Insurance Services Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: S Wilson
Mrs C Wilson





REGISTERED OFFICE: 50 Market Street
Colne
Lancashire
BB8 0HS





REGISTERED NUMBER: 06917387 (England and Wales)





ACCOUNTANTS: Xeinadin
Ground Floor
Citygate
Longridge Road
Preston
Lancashire
PR2 5BQ

Wilson Insurance Services Limited (Registered number: 06917387)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 178,349 206,142
Tangible assets 5 4,785 3,982
183,134 210,124

CURRENT ASSETS
Debtors 6 129,125 123,309
Cash in hand 290 250
129,415 123,559
CREDITORS
Amounts falling due within one year 7 197,168 148,867
NET CURRENT LIABILITIES (67,753 ) (25,308 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

115,381

184,816

CREDITORS
Amounts falling due after more than
one year

8

(84,954

)

(106,600

)

PROVISIONS FOR LIABILITIES 9 (1,196 ) (995 )
NET ASSETS 29,231 77,221

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 29,131 77,121
SHAREHOLDERS' FUNDS 29,231 77,221

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Wilson Insurance Services Limited (Registered number: 06917387)

Balance Sheet - continued
31 August 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 29 May 2025 and were signed on its behalf by:





S Wilson - Director


Wilson Insurance Services Limited (Registered number: 06917387)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Wilson Insurance Services 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business is being amortised evenly over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Wilson Insurance Services Limited (Registered number: 06917387)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 332,936
AMORTISATION
At 1 September 2023 126,794
Charge for year 27,793
At 31 August 2024 154,587
NET BOOK VALUE
At 31 August 2024 178,349
At 31 August 2023 206,142

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 17,941 1,916 1,030 20,887
Additions 203 - 2,670 2,873
At 31 August 2024 18,144 1,916 3,700 23,760
DEPRECIATION
At 1 September 2023 14,957 918 1,030 16,905
Charge for year 857 479 734 2,070
At 31 August 2024 15,814 1,397 1,764 18,975
NET BOOK VALUE
At 31 August 2024 2,330 519 1,936 4,785
At 31 August 2023 2,984 998 - 3,982

Wilson Insurance Services Limited (Registered number: 06917387)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 53,075 53,077
Directors' current accounts 76,050 70,232
129,125 123,309

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 28,554 29,829
Trade creditors 3,668 12,301
Tax 147,280 99,661
Social security and other taxes 13,783 3,886
Other creditors 638 -
Accrued expenses 3,245 3,190
197,168 148,867

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 16,129 37,775
Bank loans - 2-5 years 18,769 18,769
Bank loans more 5 yr by instal 50,056 50,056
84,954 106,600

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 50,056 50,056

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,196 995

Deferred
tax
£   
Balance at 1 September 2023 995
Provided during year 201
Balance at 31 August 2024 1,196

Wilson Insurance Services Limited (Registered number: 06917387)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
S Wilson
Balance outstanding at start of year 70,232 187,660
Amounts advanced 26,130 25,680
Amounts repaid (20,312 ) (143,108 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 76,050 70,232

11. ULTIMATE CONTROLLING PARTY

Mr S Wilson is the ultimate controlling party having 51% of the shareholding.