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REGISTERED NUMBER: 03904541















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TRINITY INSURANCE SERVICES LIMITED

TRINITY INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 03904541)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TRINITY INSURANCE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: J D Weight
M H Austin
R L Ach





REGISTERED OFFICE: Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ





REGISTERED NUMBER: 03904541





AUDITORS: Lewis Brownlee (Chichester) Limited
Statutory Auditors
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

TRINITY INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 03904541)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Intangible assets 4 219,713 294,131
Tangible assets 5 8,190 9,134
Investments 6 - 3,721
227,903 306,986

CURRENT ASSETS
Debtors: amounts falling due within one year 7 315,444 314,600
Debtors: amounts falling due after more than
one year

7

147,294

373,386
Cash in hand 212,304 93,604
675,042 781,590
CREDITORS
Amounts falling due within one year 8 475,017 392,262
NET CURRENT ASSETS 200,025 389,328
TOTAL ASSETS LESS CURRENT
LIABILITIES

427,928

696,314

PROVISIONS FOR LIABILITIES 9 24,656 19,442
NET ASSETS 403,272 676,872

CAPITAL AND RESERVES
Called up share capital 2,203,613 2,133,613
Retained earnings (1,800,341 ) (1,456,741 )
SHAREHOLDERS' FUNDS 403,272 676,872

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 14 May 2025 and were signed on its behalf by:





M H Austin - Director


TRINITY INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 03904541)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATEMENT OF COMPLIANCE

Trinity Insurance Services Limited is a private company, limited by shares, registered in England and Wales. The Registered Office is Appledram Barns, Birdham Road, Chichester, West Sussex, PO20 7EQ and the company's registered number is 03904541.

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.

The presentational currency of the financial statements is Pound Sterling (£) which is rounded to the nearest Pound (£).

Going Concern
The directors have assessed that the company has adequate resources to continue in operational existence for a minimum of 12 months from the date of signing the financial statements. This is on the basis that support will be provided by other group companies and has been confirmed with a support letter. The company will require further investment and cash funding from other group companies in the upcoming months, for which the directors believe will be forthcoming. There has been significant investment in intangible fixed assets to open up new income streams, expected to be established fully in 2025. Therefore the company is forecasting a significant increase in profit levels in the coming years, For this reason the financial statements have been prepared on a going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about Trinity Insurance Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Insurance premiums
Insurance premiums are received net of insurance premium tax and underwriting costs. Income is recognised on the date of renewal or the date of commencement of the insurance policy, whichever is earlier.
Commission
Commission receivable is recognised net of any amounts clawed back, and is recognised in the period that the commission is earned.

Intangible assets
Intangible assets are initially measured at cost. The initial split of which has been determined from the estimated relative fair values of the component parts. An unincorporated business was acquired in 2018 and the directors have made the best estimate of this split.

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

The membership lists are amortised on a straight line basis over 5 or 10 years, depending on the estimated minimum useful economic life of the membership lists. Trade marks are amortised over the time to expiry of the trade mark, estimated to be 5 years. Computer software is amortised on a straight line basis over 3 years and reducing balance basis over 10 years.

At the year end an impairment review was carried out which estimates the net present value of the profits derived from customers on the membership list. In the opinion of the directors this amount was considered to be higher than the amortised amount as at 31 December 2024.

TRINITY INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 03904541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life as follows:

Computer equipment - 33% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

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 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. Current tax is not discounted.

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. Deferred taxation assets and liabilities are recognised at the tax rates enacted or substantially enacted by the balance sheet date.

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.

Provision for liabilities
Provisions are recognised when the company has a present obligation as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is for clawback of commissions and is the best estimate of the number of life insurance policies to lapse in the clawback period of four years. The estimate has been based on historical data which has been updated during the current year.

Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

TRINITY INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 03904541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Membership
list and Software Computer
trademarks development software Totals
£ £ £ £
COST
At 1 January 2024
and 31 December 2024 600,116 162,934 74,191 837,241
AMORTISATION
At 1 January 2024 427,028 78,810 37,272 543,110
Amortisation for year 45,953 24,773 3,692 74,418
At 31 December 2024 472,981 103,583 40,964 617,528
NET BOOK VALUE
At 31 December 2024 127,135 59,351 33,227 219,713
At 31 December 2023 173,088 84,124 36,919 294,131

5. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 January 2024 42,525
Additions 2,201
At 31 December 2024 44,726
DEPRECIATION
At 1 January 2024 33,391
Charge for year 3,145
At 31 December 2024 36,536
NET BOOK VALUE
At 31 December 2024 8,190
At 31 December 2023 9,134

TRINITY INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 03904541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 January 2024 3,721
Impairments (3,721 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 3,721

7. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 221,213 219,950
Amounts owed by group undertakings 50,000 51,451
Other debtors 44,231 43,199
315,444 314,600

Amounts falling due after more than one year:
Other debtors 147,294 373,386

Aggregate amounts 462,738 687,986

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 386,091 309,826
Taxation and social security 21,879 20,687
Other creditors 67,047 61,749
475,017 392,262

9. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Other provisions 24,656 19,442

TRINITY INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 03904541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. PROVISIONS FOR LIABILITIES - continued



Deferred tax
Commission
clawbacks
£   £   
Balance at 1 January 2024(344,834)19,443
Provided during the year29,343
Charge/(credit) to Income Statement during year199,183(24,129)
145,65124,656


Deferred tax
The company has tax losses available to carry forward to future periods of £1,507,221 (2023: £1,440,442).
Debtors include a deferred tax asset of £145,651 (2023 - £344,834) associated with these tax losses provided within these financial statements, with a further, as yet, unprovided deferred tax asset of £216,670 (2023 - £Nil).

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sam Ede BFP FCA FCCA (Senior Statutory Auditor)
for and on behalf of Lewis Brownlee (Chichester) Limited

11. OPERATING LEASE COMMITMENTS

At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £8,184 (2023: £6,617).