REGISTERED NUMBER: 06946497 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Hadleigh Claims Management Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

Fixed assets

Intangible assets

4

49,441

-

Current assets

Debtors

5

410,949

662,767

Cash at bank

1,950,722

1,650,919

2,361,671

2,313,686

Creditors

Amounts falling due within one year

6

(395,306

)

(461,456

)

Net current assets

1,966,365

1,852,230

Total assets less current liabilities

2,015,806

1,852,230

Capital and reserves

Called up share capital

1,000

1,000

Retained earnings

2,014,806

1,851,230

2,015,806

1,852,230

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 16 September 2025 and were signed on its behalf by:

Mr D J Flux - Director

1.	Statement of compliance

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.

2.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

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

Turnover comprises charges for the provision of insurance claims management services to underwriters, and is recognised in accordance with FRS 102 section 23, for the period to which the claims management service relates.

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 has not commenced amortisation as it is yet to be brought into use.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the 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.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

3.	Employees and directors

The average number of employees during the year was 48 (2024 - 45 ) .

4.	Intangible fixed assets

Computer

software

£

Cost

Additions

49,441

At 31 March 2025

49,441

Net book value

At 31 March 2025

49,441

5.

Debtors: amounts falling due within one year

31.3.25

31.3.24

£

£

Trade debtors

385,997

475,646

Other debtors

24,952

187,121

410,949

662,767

6.

Creditors: amounts falling due within one year

31.3.25

31.3.24

£

£

Amounts owed to group undertakings

193,940

200,990

Taxation and social security

83,044

67,648

Other creditors

118,322

192,818

395,306

461,456

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayments and are repayable on demand.

7.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Mr Michael Andrews FCA (Senior Statutory Auditor)

for and on behalf of Stephenson Smart (East Anglia) Limited

8.	Capital commitments

31.3.25

31.3.24

£

£

Contracted but not provided for in the

financial statements

28,441

-

9.	Related party disclosures

The company has taken advantage of the exemption within FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.

During the year, the company charged fees of £1,162,921 (2024: £1,011,006) for claims management and £1,052,505 (2024: £1,101,525) for breakdown costs and fees to a company based in Malta under the control of one of its directors. At 31 March 2025, this company owed Hadleigh Claims Management Limited £385,997 (2024: £475,646), included in trade debtors.

During the year, the company purchased insurance from a partnership owned by one of the directors totalling £10,404 (2024: £7,050). The balance owing to this partnership as at 31 March 2025 was £Nil (2024: £Nil).

None of the balances outstanding at 31 March 2025 are secured and no guarantees have been given or received.

No further transactions were undertaken that require disclosure under FRS 102 Section 1A.

10.	Ultimate controlling party

The ultimate controlling party is Mr D J Flux and Mrs Y Flux.

The ultimate controlling party are considered to be the directors by virtue of their ability to act in concert in respect of the operational and financial policies of the company.

Hadleigh Holdings Limited (incorporated in England and Wales) is regarded by the directors as being the company's ultimate parent company.

A copy of the group consolidated financial statements may be obtained from 22-26 King Street, King's Lynn, Norfolk, PE30 1HJ.