Registration number: 08577514

Faversham Underwriting Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Faversham Underwriting Limited

Company Information

Directors

Mr D R Wills Mr N T A Wright Mr R J Scott

Registered office

20-21 Midland Court Central Park Leicester Road Lutterworth Leicestershire LE17 4PN

Accountants

Wychbury Greaves Station House Station Road Rugeley Staffordshire WS15 3HA

Faversham Underwriting Limited

(Registration number: 08577514)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	391	489
Current assets
Debtors		704,036	712,038
Cash at bank and in hand		1,012,372	625,446
		1,716,408	1,337,484
Creditors: Amounts falling due within one year		(1,173,866)	(921,451)
Net current assets		542,542	416,033
Net assets		542,933	416,522
Capital and reserves
Called up share capital		200,000	200,000
Retained earnings		342,933	216,522
Shareholders' funds		542,933	416,522

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 Profit and Loss Account.

Approved and authorised by the Board on 23 December 2025 and signed on its behalf by:
 

......................................... Mr D R Wills Director

Faversham Underwriting 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 & Wales.

The address of its registered office is:
20-21 Midland Court
Central Park
Leicester Road
Lutterworth
Leicestershire
LE17 4PN
England

These financial statements were authorised for issue by the Board on 23 December 2025.

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.

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 sales/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.

Faversham Underwriting Limited

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

Tangible assets

Tangible assets are stated in the balance sheet 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:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 4).

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 April 2024	4,689	5,880	10,569
At 31 March 2025	4,689	5,880	10,569
Depreciation
At 1 April 2024	4,200	5,880	10,080
Charge for the year	98	-	98
At 31 March 2025	4,298	5,880	10,178
Carrying amount
At 31 March 2025	391	-	391
At 31 March 2024	489	-	489

5	Obligations under leases and hire purchase contracts

Operating leases

Faversham Underwriting Limited

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

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	24,000	45,072

The amount of non-cancellable operating lease payments recognised as an expense during the year was £19,900 (2024 - £44,652).