All Sport Insurance Services Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 7

All Sport Insurance Services Limited

(Registration number: 09897561)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	36,204	7,067
Current assets
Debtors	5	645,027	557,430
Cash at bank and in hand		65,723	15,089
		710,750	572,519
Creditors: Amounts falling due within one year	6	(603,221)	(519,672)
Net current assets		107,529	52,847
Total assets less current liabilities		143,733	59,914
Creditors: Amounts falling due after more than one year	6	(120,000)	(120,000)
Net assets/(liabilities)		23,733	(60,086)
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		22,733	(61,086)
Shareholders' funds/(deficit)		23,733	(60,086)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 24 December 2025 and signed on its behalf by:
 

Mr K Davies Director

All Sport Insurance Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Petitor House
Nicholson Road
Torquay
Devon
TQ2 7TD

Principal activity

The principal activity of the company is that of general insurance intermediary.

2	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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

All Sport Insurance Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, 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 income 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% straight line
Motor vehicles	25% straight line
Office equipment	25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

All Sport Insurance Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2024 - 10).

All Sport Insurance Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 April 2024	9,823	40,273	50,096
Additions	-	34,400	34,400
At 31 March 2025	9,823	74,673	84,496
Depreciation
At 1 April 2024	7,154	35,875	43,029
Charge for the year	1,334	3,929	5,263
At 31 March 2025	8,488	39,804	48,292
Carrying amount
At 31 March 2025	1,335	34,869	36,204
At 31 March 2024	2,669	4,398	7,067

5

Debtors

	Note	2025 £	2024 £
Trade debtors		25,986	3,677
Amounts owed by related parties	9	594,789	503,295
Other debtors		-	17,200
Prepayments		7,626	16,953
Accrued income		16,626	16,305
		645,027	557,430

All Sport Insurance Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		94,846	4,322
Amounts owed to related parties	9	475,450	468,254
Taxation and social security		16,844	21,483
Accruals and deferred income		7,207	18,954
Other creditors		8,874	6,659
		603,221	519,672

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	120,000	120,000

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

All Sport Insurance Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Other borrowings	120,000	120,000

9	Related party transactions

Transactions with directors

2025	At 1 April 2024 £	At 31 March 2025 £
Mr K Davies
	(64,550)	(64,550)
Mr A Pearce
	(30,000)	(30,000)
Mr G Derham
	(30,000)	(30,000)

2024	At 1 April 2023 £	At 31 March 2024 £
Mr K Davies
	(64,550)	(64,550)
Mr A Pearce
	(30,000)	(30,000)
Mr G Derham
	(30,000)	(30,000)