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Registered Number: SC305802
Scotland

 

 

 

INTEGRITY INSURANCE SERVICES LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Director S Davidson
Registered Number SC305802
Registered Office 25 Morton Street
Edinburgh
EH15 2HN
Accountants M & S Accountancy & Taxation Limited
Unit 26, Dunfermline Business Centre
Izatt Avenue
Dunfermline
KY11 3BZ
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 638    1,366 
638    1,366 
Current assets      
Debtors 4 260,515    257,837 
Cash at bank and in hand 26,977    37,652 
287,492    295,489 
Creditors: amount falling due within one year 5 (202,102)   (188,047)
Net current assets 85,390    107,442 
 
Total assets less current liabilities 86,028    108,808 
Creditors: amount falling due after more than one year 6 (8,226)   (18,226)
Provisions for liabilities 7 (319)   (260)
Net assets 77,483    90,322 
 

Capital and reserves
     
Called up share capital 8 1,000    1,000 
Profit and loss account 76,483    89,322 
Shareholders' funds 77,483    90,322 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 08 July 2025 and were signed by:


-------------------------------
S Davidson
Director
2
General Information
Integrity Insurance Services Ltd is a private company, limited by shares, registered in Scotland, registration number SC305802, registration address 25 Morton Street, Edinburgh, EH15 2HN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of VAT and trade discounts. Turnover is recognised on the accruals basis.
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The companys liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred taxation
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 20% Straight Line
Computer Equipment 25% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 6 (2023 : 5).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Computer Equipment   Total
  £   £   £
At 01 August 2023 24,219    4,612    28,831 
Additions   119    119 
Disposals    
At 31 July 2024 24,219    4,731    28,950 
Depreciation
At 01 August 2023 24,219    3,247    27,466 
Charge for year   846    846 
On disposals    
At 31 July 2024 24,219    4,093    28,312 
Net book values
Closing balance as at 31 July 2024   638    638 
Opening balance as at 01 August 2023   1,366    1,366 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Prepayments & Accrued Income 1,444    2,789 
Other Debtors 259,071    255,048 
260,515    257,837 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Bank Loans & Overdrafts 10,000    10,000 
Corporation Tax 31,090    24,329 
PAYE & Social Security 1,271   
Accrued Expenses 4,000    3,572 
Other Creditors 139,944    141,114 
Directors' Current Accounts 15,797    9,032 
202,102    188,047 
Included within bank loans and overdrafts are amounts advanced to the company under the Bounce Back Loan Scheme of £10,000 (2023 - £10,000). This is fully backed by a government guarantee

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 8,226    18,226 
8,226    18,226 
Included within bank loans and overdrafts are amounts advanced to the company under the Bounce Back Loan Scheme of £8,226 (2023 - £18,226). This is fully backed by a government guarantee.

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 319    260 
319    260 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

9.

Related Parties

During the year the company entered into the following transactions with related parties:

  2024
£
  2023
£
Entities with control, joint control or significant influence over the company 250,693  249,170 

No interest has been charged on the loan. The loan is unsecure and repayable on demand.
10.

Consolidated Accounts Exemption

In accordance with Section 400 of the Companies Act 2006, the company is exempt from preparing consolidated financial statements as it meets the criteria of a small group. Therefore, the company has opted to prepare individual financial statements only and has not prepared group accounts for the year ending 31 July 2024.
11.

Ultimate Controlling Party

The company's ultimate controlling party is Integrity Holdings Limited by virtue of it's ownership of 100% of the issued share capital in the company.


3