REGISTERED NUMBER: 06809003 (England and Wales)

THINK INSURANCE SERVICES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R J Fullerton

G M Hussey

Mrs H L Fullerton

Mrs J Hussey

REGISTERED OFFICE:

26 Newhall Street

Walsall

West Midlands

WS1 3DZ

REGISTERED NUMBER:

06809003 (England and Wales)

AUDITORS:

Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

FIXED ASSETS

Intangible assets

4

954,336

431,244

Tangible assets

5

422,255

215,967

1,376,591

647,211

CURRENT ASSETS

Debtors

6

3,035,020

2,891,317

Cash at bank

2,367,337

2,932,552

5,402,357

5,823,869

CREDITORS

Amounts falling due within one year

7

3,156,174

2,469,095

NET CURRENT ASSETS

2,246,183

3,354,774

TOTAL ASSETS LESS CURRENT LIABILITIES

3,622,774

4,001,985

CREDITORS

Amounts falling due after more than one year

8

(300,969

)

(422,488

)

PROVISIONS FOR LIABILITIES

11

(50,167

)

(37,128

)

NET ASSETS

3,271,638

3,542,369

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

3,271,538

3,542,269

SHAREHOLDERS' FUNDS

3,271,638

3,542,369

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2025 and were signed on its behalf by:

R J Fullerton - Director

1.	STATUTORY INFORMATION

Think Insurance Services 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.

Turnover

Turnover comprises net commission receivable and related fees on business incepting up to the year end.

Goodwill

Goodwill, being the amount paid in connection with the acquisition businesses in 2022, 2023 and 2024, is being amortised evenly over its estimated useful life of four years.

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.

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.

Office equipment

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

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 112 (2024 - 106 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2024

599,993

Additions

999,992

Impairments

(210,792

)

At 30 June 2025

1,389,193

AMORTISATION

At 1 July 2024

168,749

Charge for year

266,108

At 30 June 2025

434,857

NET BOOK VALUE

At 30 June 2025

954,336

At 30 June 2024

431,244

5.	TANGIBLE FIXED ASSETS

Office

Motor

Computer

equipment

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2024

52,439

396,894

99,127

548,460

Additions

-

464,843

13,088

477,931

Disposals

-

(396,894

)

(7,923

)

(404,817

)

At 30 June 2025

52,439

464,843

104,292

621,574

DEPRECIATION

At 1 July 2024

51,232

191,967

89,294

332,493

Charge for year

396

55,705

10,603

66,704

Eliminated on disposal

-

(191,967

)

(7,911

)

(199,878

)

At 30 June 2025

51,628

55,705

91,986

199,319

NET BOOK VALUE

At 30 June 2025

811

409,138

12,306

422,255

At 30 June 2024

1,207

204,927

9,833

215,967

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

Motor

vehicles

£

COST

At 1 July 2024

396,894

Additions

464,843

Disposals

(396,894

)

At 30 June 2025

464,843

DEPRECIATION

At 1 July 2024

191,967

Charge for year

55,705

Eliminated on disposal

(191,967

)

At 30 June 2025

55,705

NET BOOK VALUE

At 30 June 2025

409,138

At 30 June 2024

204,927

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Trade debtors

1,857,127

1,920,059

Other debtors

1,177,893

971,258

3,035,020

2,891,317

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Hire purchase contracts (see note 9)

48,828

4,624

Trade creditors

1,994,090

1,608,818

Amounts owed to group undertakings

141,654

96,312

Taxation and social security

356,387

317,049

Other creditors

615,215

442,292

3,156,174

2,469,095

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.25

30.6.24

£

£

Hire purchase contracts (see note 9)

300,969

262,074

Other creditors

-

160,414

300,969

422,488

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

30.6.25

30.6.24

£

£

Net obligations repayable:

Within one year

48,828

4,624

Between one and five years

300,969

262,074

349,797

266,698

Non-cancellable

operating leases

30.6.25

30.6.24

£

£

Within one year

54,586

70,017

Between one and five years

107,012

161,599

161,598

231,616

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.25

30.6.24

£

£

Hire purchase contracts

349,797

266,698

11.	PROVISIONS FOR LIABILITIES

30.6.25

30.6.24

£

£

Deferred tax

Accelerated capital allowances

50,167

37,128

Deferred

tax

£

Balance at 1 July 2024

37,128

Charge to Income Statement during year

13,039

Balance at 30 June 2025

50,167

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.25

30.6.24

value:

£

£

82

Ordinary A

£1

82

82

18

Ordinary B

£1

18

18

100

100

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Thomas Harris (Senior Statutory Auditor)

for and on behalf of Charles Lovell & Co Limited

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2025 and 30 June 2024:

30.6.25

30.6.24

£

£

G M Hussey

Balance outstanding at start of year

373,166

374,503

Amounts advanced

201,057

-

Amounts repaid

-

(1,337

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

574,223

373,166

R J Fullerton

Balance outstanding at start of year

304,701

304,701

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

304,701

304,701

15.	RELATED PARTY DISCLOSURES

Ensco 1292 Limited, the parent company of Think Insurance Services Limited, rents the premises to Think Insurance Services Limited for £30,000 per annum.