Registered number
08536306
Bastion Insurance Services Ltd
Filleted Accounts
31 December 2024
Bastion Insurance Services Ltd
Registered number: 08536306
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 24,707 -
Tangible assets 4 117,681 99,229
142,388 99,229
Current assets
Debtors 5 527,595 723,348
Cash at bank and in hand 902,827 406,788
1,430,422 1,130,136
Creditors: amounts falling due within one year 6 (609,937) (473,896)
Net current assets 820,485 656,240
Net assets 962,873 755,469
Capital and reserves
Called up share capital 43,000 43,000
Profit and loss account 919,873 712,469
Shareholders' funds 962,873 755,469
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Kempson
Director
Approved by the board on 29 September 2025
Bastion Insurance Services Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 10
3 Intangible fixed assets £
Goodwill:
Cost
Additions 35,000
At 31 December 2024 35,000
Amortisation
Provided during the year 10,293
At 31 December 2024 10,293
Net book value
At 31 December 2024 24,707
Goodwill is being written off in equal annual instalments over its estimated economic life of 2 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 355,531
Additions 71,822
At 31 December 2024 427,353
Depreciation
At 1 January 2024 256,302
Charge for the year 53,370
At 31 December 2024 309,672
Net book value
At 31 December 2024 117,681
At 31 December 2023 99,229
5 Debtors 2024 2023
£ £
Trade debtors 287,118 303,705
Other debtors 240,477 419,643
527,595 723,348
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 279,461 277,481
Corporation tax 67,555 94,607
Other creditors 262,921 101,808
609,937 473,896
7 Other information
Bastion Insurance Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Temple Court Mews
109 Oxford Road
Oxford
OX4 2ER
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