Company registration number 05426923 (England and Wales)
INSURANCE COLLECTIONS BUREAU LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH REGISTRAR
INSURANCE COLLECTIONS BUREAU LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
INSURANCE COLLECTIONS BUREAU LIMITED
COMPANY INFORMATION
Directors
A W Smith
L J Wilcox
Secretary
E Wilcox
Company number
05426923
Registered office
Weltech House
Ridgeway
Welwyn Garden City
Hertfordshire
AL7 2AA
Accountants
BK Plus Limited
Oakingham House
Frederick Place
High Wycombe
Buckinghamshire
HP11 1JU
INSURANCE COLLECTIONS BUREAU LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
131,419
185,429
Tangible assets
5
6,566
6,728
137,985
192,157
Current assets
Work in progress
49,476
33,694
Debtors
6
161,501
55,956
Cash at bank and in hand
315,412
445,607
526,389
535,257
Creditors: amounts falling due within one year
7
(276,564)
(263,862)
Net current assets
249,825
271,395
Total assets less current liabilities
387,810
463,552
Creditors: amounts falling due after more than one year
8
-
0
(13,657)
Net assets
387,810
449,895
Capital and reserves
Called up share capital
9
20,000
20,000
Profit and loss reserves
367,810
429,895
Total equity
387,810
449,895

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The directors have not delivered a copy of the company's directors' report for the financial year in accordance with section 444(5A) of the Companies Act 2006.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

INSURANCE COLLECTIONS BUREAU LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2025
30 September 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 8 June 2026 and are signed on its behalf by:
A W Smith
Director
Company Registration No. 05426923
INSURANCE COLLECTIONS BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
1
Accounting policies
Company information

Insurance Collections Bureau Limited is a private company limited by shares incorporated in England and Wales. The registered office is Weltech House, Ridgeway, Welwyn Garden City, Hertfordshire, United Kingdom, AL7 2AA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development Costs
10% straight line
INSURANCE COLLECTIONS BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Work in progress

Work in progress represents unbilled services provided up to the reporting date. It is measured at the lower of cost and net realisable value. Cost comprises directly attributable staff and other direct costs incurred to date. Where the outcome of a contract can be estimated reliably, work in progress is recognised by reference to the stage of completion. Where the outcome cannot be estimated reliably, work in progress is recognised only to the extent that costs incurred are expected to be recoverable. Work in progress is reviewed at each reporting date for recoverability.

1.8
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

INSURANCE COLLECTIONS BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

INSURANCE COLLECTIONS BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

INSURANCE COLLECTIONS BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 7 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation, Amortisation and Useful Life

Fixed assets are depreciated or amortised over their estimated useful economic lives, taking into account estimated residual values. These estimates are based on management’s experience with similar assets, consideration of anticipated technological changes, expected usage, and other relevant factors.

Bad debt provision

Management reviewed the recoverability of trade debtors at the reporting date, considering customer payment history and outstanding balances. Based on this review, no bad debt provision was considered necessary at year end.

Deferred Tax

Management reviews deferred tax balances at the reporting date, considering the expected reversal of timing differences and the availability of future taxable profits. Deferred tax assets are recognised only where recovery is considered probable, and deferred tax liabilities are recognised for taxable timing differences using enacted or substantively enacted tax rates.

Work-In-Progress Recoverability

Management reviews the recoverability of work in progress at the reporting date, considering the stage of completion, expected future billings, and any known disputes. Based on this review, no material write down was considered necessary at the year end.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
35
34
INSURANCE COLLECTIONS BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
4
Intangible fixed assets
Other
£
Cost
At 1 October 2024
286,931
Disposals
(101,652)
At 30 September 2025
185,279
Amortisation and impairment
At 1 October 2024
101,502
Amortisation charged for the year
29,626
Disposals
(77,268)
At 30 September 2025
53,860
Carrying amount
At 30 September 2025
131,419
At 30 September 2024
185,429
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2024
58,065
Additions
5,720
At 30 September 2025
63,785
Depreciation and impairment
At 1 October 2024
51,337
Depreciation charged in the year
5,882
At 30 September 2025
57,219
Carrying amount
At 30 September 2025
6,566
At 30 September 2024
6,728
INSURANCE COLLECTIONS BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 9 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,383
2,082
Other debtors
160,118
53,874
161,501
55,956
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
13,645
18,182
Trade creditors
31,193
47,457
Corporation tax
22,751
3,589
Other taxation and social security
52,456
47,030
Other creditors
156,519
147,604
276,564
263,862
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
-
0
13,657

Bank loans in note 7 and 8 relate to a Coronavirus Business Interruption Loan of £13,645 (202 4: £31,839). This loan is secured by way of a charge over the assets of the company.

9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
20,000
20,000
20,000
20,000
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