REGISTERED NUMBER: 08850854 (England and Wales)

VANTAGE TAX FEE PROTECTION LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr B Dawson

Mr A A Gordon

Mr S J Greenwell

Mr S E Wade

Mr M A Walker

REGISTERED OFFICE:

Windsor House Troon Way Business Centre

Humberstone Lane

Leicester

Leicestershire

LE4 9HA

REGISTERED NUMBER:

08850854 (England and Wales)

ACCOUNTANTS:

QACCOUNTING LTD

Windsor House,

Troon Way Business Centre,

Thurmaston, Leicestershire

LE4 9HA

FIXED ASSETS

Intangible assets

4

46,497

21,082

Tangible assets

5

13,232

9,431

Investments

6

100

100

59,829

30,613

CURRENT ASSETS

Debtors

7

4,271,979

3,470,659

Cash at bank

8

843,508

552,178

5,115,487

4,022,837

CREDITORS

Amounts falling due within one year

9

4,719,858

4,110,612

NET CURRENT ASSETS/(LIABILITIES)

395,629

(87,775

)

TOTAL ASSETS LESS CURRENT LIABILITIES

455,458

(57,162

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

455,456

(57,164

)

455,458

(57,162

)

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 30 September 2025 and were signed on its behalf by:

Mr S J Greenwell - Director

1.	STATUTORY INFORMATION

VANTAGE TAX FEE PROTECTION 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.

The presentation currency of the financial statements is the Pound Sterling (£).

Group relief

It is the group's policy in certain situations to charge for tax losses surrendered by the way of group relief at the rate prevailing at the end of the financial period in respect of which relief is given.

Insurance broking debtors, creditors and cash balances

The company acts as an agent in broking the insurable risks of its clients and, generally, is not liable as a principal for premiums due to underwriters or for claims payable to clients. Notwithstanding the company's legal relationship with clients and underwriters and since in practice premium and claim monies are usually accounted for by insurance intermediaries, it has followed generally accepted accounting practices by showing cash, debtors and creditors relating to insurance business as assets and liabilities of the company itself.

Included in cash and cash equivalents is client money held by the company in IBA bank accounts which are under risk transfer agreements with the ultimate underwriters.

Such funds are disclosed as fiduciary assets and liabilities in the notes of the financial statements.

Turnover

The company acts as an agent. Turnover represents commission receivable for services, net of VAT and IPT.Turnover is principally derived from two distinct income streams; being the sale of insurance policies, where the commission is credited to turnover on the inception of the policy, and consultancy fees, where income is credited to turnover as the fees are incurred.

The turnover figure represents the net income after associated underwriter and brokerage costs have been deducted. Sales including gross value of insurance premiums written for the year was £7,491,423 (2023- £6,113,370)

Intangible assets

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

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided on the following basis:

Fixtures & fittings -25% straight line

Computer equipment -25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are reoognised in the Profit and Loss account.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

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.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or ubstantively enacted by the balance sheet date.

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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Going concern

The company has continued to receive financial support from companies related by virtue of common control through the use of current accounts.

With this information, and based on a review of forecast trading 12 months from the signing of the financial

statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2024

67,651

Additions

42,472

At 31 December 2024

110,123

AMORTISATION

At 1 January 2024

46,569

Amortisation for year

17,057

At 31 December 2024

63,626

NET BOOK VALUE

At 31 December 2024

46,497

At 31 December 2023

21,082

5.	TANGIBLE FIXED ASSETS

Fixtures

and

IT

fittings

Equipment

Totals

£

£

£

COST

At 1 January 2024

3,084

93,713

96,797

Additions

-

9,555

9,555

At 31 December 2024

3,084

103,268

106,352

DEPRECIATION

At 1 January 2024

2,581

84,785

87,366

Charge for year

224

5,530

5,754

At 31 December 2024

2,805

90,315

93,120

NET BOOK VALUE

At 31 December 2024

279

12,953

13,232

At 31 December 2023

503

8,928

9,431

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

100

NET BOOK VALUE

At 31 December 2024

100

At 31 December 2023

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

3,360,801

2,623,010

Amounts owed by group undertakings

721,892

646,415

Other debtors

189,286

201,234

4,271,979

3,470,659

Included within trade debtors are fiduciary assets of £3,282,162 (2023 - £2,555,436).

8.	CASH AT BANK

2024 2023

£ £

Cash at bank 823,498 508,032

Included within cash and cash equivalents are fiduciary assets of £823,498 (2023 - £508,032).

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

2,756,642

2,090,680

Amounts owed to group undertakings

1,607,141

1,802,032

Taxation and social security

195,674

13,778

Other creditors

160,401

204,122

4,719,858

4,110,612

Included within trade creditors are fiduciary liabilities of £2,663,420 (2023 - £1,888,196).

10.	FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

The bank facilities with Lloyds Bank Plc are secured by an Omnibus Guarantee and set-off agreement between this company, Rhino Protect Limited, Vantage Legal Services Limited, Vantage Legal Protect Limited, Rhino Protect Holdings Ltd, Contractor Weekly Limited, Rhino Resource Services Holdings Ltd, Rhino Resource Services Limited, Quest Business Services Limited, IR35 Buddy Limited and Vantage Tax Fee Protection (Global) Limited.

11.	RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence:

2024 2023

£ £

Amounts due from related parties 721,892 646,415

Amounts due to related parties (1,607,141 ) (1,802,033 )