REGISTERED NUMBER: 02920641 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Insurance Administration Services

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs P Mack

N Frost

SECRETARY:

REGISTERED OFFICE:

Suite 6, Birch House

Ransom Wood Business Park

Southwell Road West

Mansfield

Nottinghamshire

NG21 0HJ

REGISTERED NUMBER:

02920641 (England and Wales)

ACCOUNTANTS:

TC Group

Cliffe Hill House

22-26 Nottingham Road

Stapleford

Nottingham

NG9 8AA

FIXED ASSETS

Tangible assets

4

35,704

49,246

Investments

5

1

1

35,705

49,247

CURRENT ASSETS

Debtors

6

232,469

106,242

Cash at bank and in hand

82,900

34,336

315,369

140,578

CREDITORS

Amounts falling due within one year

7

170,216

70,326

NET CURRENT ASSETS

145,153

70,252

TOTAL ASSETS LESS CURRENT LIABILITIES

180,858

119,499

CREDITORS

Amounts falling due after more than one year

8

(8,675

)

(15,715

)

PROVISIONS FOR LIABILITIES

(8,926

)

-

NET ASSETS

163,257

103,784

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

163,255

103,782

163,257

103,784

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2025 and were signed on its behalf by:

Mrs P Mack - Director

1.	STATUTORY INFORMATION

Insurance Administration 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.

Changes in accounting policies

The company has changed from FRS 105 to FRS 102 in the current period. There have been no transitional adjustments as a result of this change.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

58,455

Additions

6,095

At 31 December 2024

64,550

DEPRECIATION

At 1 January 2024

9,209

Charge for year

19,637

At 31 December 2024

28,846

NET BOOK VALUE

At 31 December 2024

35,704

At 31 December 2023

49,246

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

1

NET BOOK VALUE

At 31 December 2024

1

At 31 December 2023

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as restated

£

£

Amounts owed by group undertakings

68,857

65,656

Other debtors

163,612

40,586

232,469

106,242

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as restated

£

£

Bank loans and overdrafts

7,005

6,970

Trade creditors

11,111

20,268

Taxation and social security

106,115

15,828

Other creditors

45,985

27,260

170,216

70,326

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

as restated

£

£

Bank loans

8,675

15,715

9.	OTHER FINANCIAL COMMITMENTS

The company has entered into a lease agreement for their premises over a 2 year period, ending 30 September 2026. As at the reporting date, the outstanding commitment under this lease is £60,238.This amount is subject to inflation.

10.	RELATED PARTY DISCLOSURES

At the year-end, the subsidiary had a debtor balance of £68,857 owed from the parent company. This balance is interest-free and repayable on demand.