Registration number:
Advantage Insurance Centres Limited
for the Year Ended 31 January 2025
Advantage Insurance Centres Limited
Contents
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Advantage Insurance Centres Limited
(Registration number: 03117074)
Statement of Financial Position as at 31 January 2025
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Note |
2025 |
2024 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
230,100 |
230,100 |
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Retained earnings |
1,232,731 |
1,258,527 |
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Shareholders' funds |
1,462,831 |
1,488,627 |
For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Advantage Insurance Centres Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except where disclosed in the accounting policies.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of commissions in the ordinary course of the company’s activities. Turnover is shown net of commissions, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
It is probable that future economic benefits will flow to the entity; and
Specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Advantage Insurance Centres Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Office equipment |
20% reducing balance |
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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Debtors |
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Current |
2025 |
2024 |
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Other debtors |
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Advantage Insurance Centres Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
- |
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Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
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2025 |
2024 |
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Redeemable preference shares |
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Advantage Insurance Centres Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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Related party transactions |
Summary of transactions with key management
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Transactions with directors |
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2025 |
At 1 February 2024 |
At 31 January 2025 |
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Mrs P Riding |
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Net advances during the year with no set repayment date and interest charged at the HMRC approved rate |
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2024 |
At 1 February 2023 |
Advances to director |
At 31 January 2024 |
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Mrs P Riding |
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Net advances during the year with no set repayment date and interest charged at the HMRC approved rate |
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was