REGISTERED NUMBER: 06501327 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Service Solutions Direct Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D J Griffin

SECRETARY:

R P Mulholland

REGISTERED OFFICE:

Solutions House

Fairways Office Park

Fulwood

Preston

Lancashire

PR2 9LF

REGISTERED NUMBER:

06501327 (England and Wales)

ACCOUNTANTS:

Bennett Kirkhope Smith

Chartered Certified Accountants

Suites 5 & 6 The Printworks

Hey Road

Barrow

Clitheroe

Lancashire

BB7 9WB

FIXED ASSETS

Tangible assets

4

8,035

44,734

CURRENT ASSETS

Debtors

5

1,975,498

3,285,471

Cash at bank

778

2,188

1,976,276

3,287,659

CREDITORS

Amounts falling due within one year

6

741,771

2,104,032

NET CURRENT ASSETS

1,234,505

1,183,627

TOTAL ASSETS LESS CURRENT LIABILITIES

1,242,540

1,228,361

CREDITORS

Amounts falling due after more than one year

7

29,167

96,468

NET ASSETS

1,213,373

1,131,893

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

1,213,372

1,131,892

SHAREHOLDERS' FUNDS

1,213,373

1,131,893

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 director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2025 and were signed by:

D J Griffin - Director

1.	STATUTORY INFORMATION

Service Solutions Direct Ltd 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.

Preparation of consolidated financial statements

The financial statements contain information about Service Solutions Direct Ltd 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

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

30% on cost

Computer equipment

-

20% on cost

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 8 (2023 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

57,122

23,343

99,172

203,267

382,904

Additions

1,450

667

-

150

2,267

Disposals

-

(8,519

)

(43,296

)

(189,666

)

(241,481

)

At 31 December 2024

58,572

15,491

55,876

13,751

143,690

DEPRECIATION

At 1 January 2024

52,148

21,125

67,676

197,221

338,170

Charge for year

3,022

2,263

7,723

4,523

17,531

Eliminated on disposal

-

(8,519

)

(21,861

)

(189,666

)

(220,046

)

At 31 December 2024

55,170

14,869

53,538

12,078

135,655

NET BOOK VALUE

At 31 December 2024

3,402

622

2,338

1,673

8,035

At 31 December 2023

4,974

2,218

31,496

6,046

44,734

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

53,981

Disposals

(27,599

)

At 31 December 2024

26,382

DEPRECIATION

At 1 January 2024

23,727

Charge for year

6,620

Eliminated on disposal

(6,164

)

At 31 December 2024

24,183

NET BOOK VALUE

At 31 December 2024

2,199

At 31 December 2023

30,254

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

451,363

664,156

Provision for bad debts

-

(16,347

)

Other debtors

-

6,315

Concept Building Solutions UK

Limited

-

1,068,363

Insurance Solutions Group Limited

1,481,300

969,457

Surface Medic Limited

-

266,920

Service Solutions Direct Inspections Limited

-

258,304

Prepayments

42,835

68,303

1,975,498

3,285,471

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

190,013

289,764

Hire purchase contracts (see note 8)

1,162

9,152

Trade creditors

353,031

455,833

Social security and other taxes

8,333

12,885

VAT

50,023

47,422

Other creditors

1,045

8,328

Service Solutions Assist Limited

-

274,439

Lucas Claims Solutions Limited

-

726,830

Accruals and deferred income

138,164

279,379

741,771

2,104,032

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

29,167

50,000

Bank loans - 2-5 years

-

29,167

Hire purchase contracts (see note 8)

-

17,301

29,167

96,468

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

1,162

9,152

Between one and five years

-

17,301

1,162

26,453

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

18,028

12,081

Between one and five years

17,911

-

35,939

12,081

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank overdrafts

140,013

239,764

Hire purchase contracts

1,162

26,453

141,175

266,217

There is an unlimited multilateral guarantee dated 23 June 2011 given by Concept Building Solutions UK Limited, Service Solutions Direct Ltd and Insurance Solutions Group Limited to secure the group overdraft facility with HSBC. HSBC also hold a debenture creating a first fixed and floating charge over any assets of the company.

The finance lease and hire purchase creditors are secured on the asset to which they relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1

Ordinary

£1

1

1

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the 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 of the company.

12.	ULTIMATE CONTROLLING PARTY