Insurance Solutions Group Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06524561 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Insurance Solutions Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Griffin

A W Walmsley

S R Charnock

R P Mulholland

SECRETARY:

R P Mulholland

REGISTERED OFFICE:

Solutions House

Fairways Office Park

Fulwood

Preston

Lancashire

PR2 9LF

REGISTERED NUMBER:

06524561 (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

3,306

4,471

Investments

5

4,991,508

4,994,814

4,995,979

CURRENT ASSETS

Debtors

6

106,615

464,554

Cash at bank

4,971

2,853

111,586

467,407

CREDITORS

Amounts falling due within one year

7

2,798,014

2,894,926

NET CURRENT LIABILITIES

(2,686,428

)

(2,427,519

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,308,386

2,568,460

CAPITAL AND RESERVES

Called up share capital

9

105

Share premium

5,451,889

Capital redemption reserve

6

Retained earnings

(3,143,614

)

(2,883,540

)

SHAREHOLDERS' FUNDS

2,308,386

2,568,460

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 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.

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 Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

D J Griffin - Director

1.	STATUTORY INFORMATION

Insurance Solutions Group 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.

Preparation of consolidated financial statements

The financial statements contain information about Insurance Solutions Group 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.

Related party exemption

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 within the group.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Over the term of the lease

Fixtures and fittings

-

15% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

COST

At 1 January 2024

and 31 December 2024

39,570

10,279

49,849

DEPRECIATION

At 1 January 2024

36,446

8,932

45,378

Charge for year

735

430

1,165

At 31 December 2024

37,181

9,362

46,543

NET BOOK VALUE

At 31 December 2024

2,389

917

3,306

At 31 December 2023

3,124

1,347

4,471

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

4,991,508

NET BOOK VALUE

At 31 December 2024

4,991,508

At 31 December 2023

4,991,508

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Lucas Claims Solutions Ltd

20,944

376,886

Service Solutions Direct Inspections
Ltd

281

4,009

Directors' current accounts

58,294

Tax

19,039

VAT

1,451

1,956

Prepayments

6,606

4,370

106,615

464,554

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

-

3,444

Corporation tax

-

105

Concept Building Solutions UK

Limited

966,227

1,790,309

Service Solutions Direct Ltd

1,481,300

969,457

Service Solutions Assist Limited

90,481

73,028

Surface Medic Limited

232,666

38,239

Accruals and deferred income

27,340

20,344

2,798,014

2,894,926

8.	SECURED DEBTS

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 hold a fixed and floating charge over all of the assets of the company dated 11 May 2011.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

10,526

A Ordinary

1p

105

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

D J Griffin

Balance outstanding at start of year

54,764

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

54,764

R P Mulholland

Balance outstanding at start of year

3,530

3,218

Amounts advanced

-

312

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

3,530

11.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

12.	SHARE-BASED PAYMENT TRANSACTIONS

An option to purchase up to a total of 2326 A Ordinary shares at an exercise price of £0.01 a share is held by four directors. The option can only be exercised if an offer is made to purchase the issued share capital of the Company or if the Company undertakes to list on the London Stock Exchange. If not exercised the option will lapse on 31 October 2028.