REGISTERED NUMBER: 08197723 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

FOR

DRIVE FURTHER LIMITED

Page

Company Information

1

Group Strategic Report

2

to

4

Report of the Director

5

to

6

Report of the Independent Auditors

7

to

10

Consolidated Income Statement

11

Consolidated Other Comprehensive Income

12

Consolidated Balance Sheet

13

Company Balance Sheet

14

Consolidated Statement of Changes in Equity

15

Company Statement of Changes in Equity

16

Consolidated Cash Flow Statement

17

Notes to the Consolidated Cash Flow Statement

18

to

19

Notes to the Consolidated Financial Statements

20

to

32

DIRECTOR:

N D Garner

SECRETARY:

S A Garner

REGISTERED OFFICE:

5400 Lakeside

Cheadle Royal Business Park

Cheadle

Cheshire

SK8 3GQ

REGISTERED NUMBER:

08197723 (England and Wales)

AUDITORS:

Allens Accountants Limited

Statutory Auditor and

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

BANKERS:

Barclays Bank plc

1st Floor

3 Hardman Street

Spinningfields

Manchester

M3 3HF

The director presents his strategic report of the company and the group for the year ended 31st December 2025.

REVIEW OF BUSINESS

The group has 3 main trading subsidiaries. MSL is a specialist provider of legal expenses and general insurance products along with associated claims handling services. Dualdrive provides vehicle solutions for niche markets including driving instructors. Supportis provides employment law and health and safety solutions for small and medium sized businesses.

Group income increased by 28.8% to £12.6m (2024: £9.8m). Administrative expenses increased by 11.4% to £10.8m (2024 £9.7m) and interest payable increased by 7.4% to £1.13m (2024 £1.05m). This has resulted in a profit before tax for the year of £0.6m against a loss in 2024 of £0.7m.

The consolidated balance sheet shareholders' funds have increased to £2.5m (2024: £2.4m).

The group continues to focus on key areas of income generation, cost control and management of working capital.

PRINCIPAL RISKS AND UNCERTAINTIES

Reserving risk

The group's approach to reserving is based on regular evaluations of historical trends.

Credit risk

The risks considered are that a bank or other counterparty defaults on amounts held for or due to the group. The group's exposure to credit risk has been assessed in the context of the credit worthiness of the relevant counterparties and is controlled and managed accordingly. The group's debtor balances are analysed and reviewed on a monthly basis and the outstanding debt due has increased in line with management expectation.

Liquidity risk

Cash flow projections indicate an expectation that the group can continue to operate within its available banking facilities.

Regulatory risk

The group is exposed to regulatory intervention, censure or fines and any associated enforcement or legal action arising from a failure to abide by any relevant obligations. The group has processes in place to ensure that it meets its regulatory timelines and an efficient and robust risk and compliance function to enable continuous monitoring of its risks and compliance obligations.

There is also a risk the interpretation or expectations of regulators evolves that actual or potential customer harm arises, or may arise, from the way the group or third parties conduct their business, or that changes in regulatory expectations affect the ongoing suitability of the group's products. There is a further risk of non compliance as regulations in financial services are continually changing as well as the interpretation and expectations on how companies comply with existing legislation.

The board keeps abreast of regulatory developments and ensures information required by regulators is submitted in a timely fashion and with board approval where appropriate.

Cyber risk and data protection risk

The group operates appropriately rigorous data protection policies and procedures within its IT security framework and also in situations where data is being handled outside the IT systems. Colleagues are trained and updated regularly on these policies and procedures.

Climate Change Risk

As the majority of business is still legal expenses insurance, the potential exposure to financial risk from climate change is believed to be relatively low.

FINANCIAL KEY PERFORMANCE INDICATORS

The group income increased in the year by 28.8% to £12.6m (2024: £9.8m).

The profit for the year after taxation (but before dividends) was £0.6m (2024: Loss £0.7m).

The shareholders' funds of the group increased to £2.5m (2024: £2.4m).

Net secured debt increased to £15.7m (2024: £15.3m).

OTHER KEY PERFORMANCE INDICATORS

There were 895 vehicles on fleet at 31 December 2025 (2024: 828).

FUTURE DEVELOPMENTS & GOING CONCERN

The financial statements for the group are prepared on a going concern basis in accordance with UK Generally Accepted Accounting Standards.

The group will continue to focus on its core activities of vehicle claims management, dual-drive vehicle leasing and provision of employment and health and safety services to SMEs.

The Board is not aware of any material post-balance sheet events.

ON BEHALF OF THE BOARD:

N D Garner - Director

28th July 2026

The director presents his report with the financial statements of the company and the group for the year ended 31st December 2025.

PRINCIPAL ACTIVITIES

The principal activity of the group is the provision of legal expenses insurance, claims handling, including first notification of loss, personal injury, medical reporting, rehabilitation, credit hire, credit repair and uninsured loss recovery. The group also provides vehicle solutions for driving instructors and employment law solutions for small and medium sized enterprises.

DIVIDENDS

The total distribution of dividends for the year ended 31st December 2025 will be £225,000.

DIRECTOR

N D Garner held office during the whole of the period from 1st January 2025 to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen in accordance with s.414C(11) Companies Act 2006 to set out in the group's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in respect of future developments and financial risk management.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Allens Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

N D Garner - Director

28th July 2026

Opinion

We have audited the financial statements of Drive Further Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st December 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31st December 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page five, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, key drivers for the directors' remuneration, bonus levels and performance targets;

- results of our enquiries of management and the board of directors about their own identification and assessment of the risks of irregularities;

- any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

Audit response to risks identified

Our procedure to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- enquiring of management and the board of directors concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Wright (Senior Statutory Auditor)

for and on behalf of Allens Accountants Limited

Statutory Auditor and

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

28th July 2026

TURNOVER

3

12,565,113

9,757,061

Administrative expenses

10,824,246

9,712,708

1,740,867

44,353

Other operating income

4

1,077

272,708

OPERATING PROFIT

6

1,741,944

317,061

Interest receivable and similar income

7

669

1,229

1,742,613

318,290

Interest payable and similar expenses

8

1,132,238

1,053,963

PROFIT/(LOSS) BEFORE TAXATION

610,375

(735,673

)

Tax on profit/(loss)

9

212,545

(132,640

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

397,830

(603,033

)

Profit/(loss) attributable to:

Owners of the parent

397,830

(603,033

)

PROFIT/(LOSS) FOR THE YEAR

397,830

(603,033

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

397,830

(603,033

)

Total comprehensive income attributable to:

Owners of the parent

397,830

(603,033

)

FIXED ASSETS

Intangible assets

12

301,576

320,946

Tangible assets

13

11,235,296

10,308,295

Investments

14

-

-

11,536,872

10,629,241

CURRENT ASSETS

Debtors

15

11,253,375

10,500,299

Cash at bank and in hand

761,056

760,620

12,014,431

11,260,919

CREDITORS

Amounts falling due within one year

16

14,665,115

13,439,561

NET CURRENT LIABILITIES

(2,650,684

)

(2,178,642

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,886,188

8,450,599

CREDITORS

Amounts falling due after more than one year

17

(6,291,421

)

(6,033,185

)

PROVISIONS FOR LIABILITIES

20

(55,387

)

(50,864

)

NET ASSETS

2,539,380

2,366,550

CAPITAL AND RESERVES

Called up share capital

21

827

827

Share premium

22

100,000

100,000

Capital redemption reserve

22

173

173

Retained earnings

22

2,438,380

2,265,550

SHAREHOLDERS' FUNDS

2,539,380

2,366,550

The financial statements were approved by the director and authorised for issue on 28th July 2026 and were signed by:

N D Garner - Director

FIXED ASSETS

Intangible assets

12

-

-

Tangible assets

13

-

-

Investments

14

6,020,535

6,020,535

6,020,535

6,020,535

CREDITORS

Amounts falling due within one year

16

2,465,273

2,465,273

NET CURRENT LIABILITIES

(2,465,273

)

(2,465,273

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,555,262

3,555,262

CAPITAL AND RESERVES

Called up share capital

21

827

827

Share premium

22

100,000

100,000

Capital redemption reserve

22

173

173

Retained earnings

22

3,454,262

3,454,262

SHAREHOLDERS' FUNDS

3,555,262

3,555,262

Company's profit for the financial year

225,000

-

The financial statements were approved by the director and authorised for issue on 28th July 2026 and were signed by:

N D Garner - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1st January 2024

827

2,868,583

100,000

173

2,969,583

Changes in equity

Total comprehensive income

-

(603,033

)

-

-

(603,033

)

Balance at 31st December 2024

827

2,265,550

100,000

173

2,366,550

Changes in equity

Dividends

-

(225,000

)

-

-

(225,000

)

Total comprehensive income

-

397,830

-

-

397,830

Balance at 31st December 2025

827

2,438,380

100,000

173

2,539,380

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1st January 2024

827

3,454,262

100,000

173

3,555,262

Changes in equity

Balance at 31st December 2024

827

3,454,262

100,000

173

3,555,262

Changes in equity

Dividends

-

(225,000

)

-

-

(225,000

)

Total comprehensive income

-

225,000

-

-

225,000

Balance at 31st December 2025

827

3,454,262

100,000

173

3,555,262

Cash flows from operating activities

Cash generated from operations

1

4,122,052

1,978,104

Interest paid

(347,066

)

(379,093

)

Interest element of hire purchase payments paid

(785,172

)

(709,450

)

Tax paid

(54,091

)

(285,971

)

Net cash from operating activities

2,935,723

603,590

Cash flows from investing activities

Purchase of intangible fixed assets

(1,874

)

-

Purchase of tangible fixed assets

(916,977

)

(942,139

)

Sale of tangible fixed assets

1,713,914

1,617,364

Interest received

669

1,229

Net cash from investing activities

795,732

676,454

Cash flows from financing activities

Capital repayments in year

(3,325,040

)

(1,780,366

)

Amount introduced by directors

93,354

-

Amount withdrawn by directors

-

(29,045

)

Related party loans

(274,333

)

1,325,041

Equity dividends paid

(225,000

)

-

Net cash from financing activities

(3,731,019

)

(484,370

)

Increase in cash and cash equivalents

436

795,674

Cash and cash equivalents at beginning of year

2

760,620

(35,054

)

Cash and cash equivalents at end of year

2

761,056

760,620

1.	RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit/(loss) before taxation

610,375

(735,673

)

Depreciation charges

2,527,314

2,209,190

Profit on disposal of fixed assets

(239,381

)

(158,494

)

Finance costs

1,132,238

1,053,963

Finance income

(669

)

(1,229

)

4,029,877

2,367,757

(Increase)/decrease in trade and other debtors

(528,779

)

231,235

Increase/(decrease) in trade and other creditors

620,954

(620,888

)

Cash generated from operations

4,122,052

1,978,104

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st December 2025

31/12/25

1/1/25

£

£

Cash and cash equivalents

761,056

760,620

Year ended 31st December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

760,620

200

Bank overdrafts

-

(35,254

)

760,620

(35,054

)

3.	ANALYSIS OF CHANGES IN NET DEBT

Other

non-cash

At 1/1/25

Cash flow

changes

At 31/12/25

£

£

£

£

Net cash

Cash at bank

and in hand

760,620

436

761,056

760,620

436

761,056

Debt

Finance leases

(8,202,265

)

3,325,040

(3,990,627

)

(8,867,852

)

Debts falling due

within 1 year

(7,518,314

)

180,979

-

(7,337,335

)

(15,720,579

)

3,506,019

(3,990,627

)

(16,205,187

)

Total

(14,959,959

)

3,506,455

(3,990,627

)

(15,444,131

)

4.	MAJOR NON-CASH TRANSACTIONS

During the period the group entered into hire purchase arrangements in respect of assets totalling £3,990,627 (2024: £3,096,407).

1.	STATUTORY INFORMATION

Drive Further 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

After reviewing the group's forecasts and projections, the director has a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The group therefore continues to adopt the going concern basis in preparing its consolidated financial statements.

Basis of consolidation

The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings made up to 31 December 2025.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

Acquisitions of subsidiaries and businesses are accounted for using the acquisition method. The cost of the business combination is measured at the aggregate of the fair values (at the date of exchange) of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquiree plus costs directly attributable to the business combination.

Any excess of the cost of the business combination over the acquirer's interest in the net fair value of the identifiable assets and liabilities is recognised as goodwill. If the net fair value of the identifiable assets and liabilities exceeds the cost of the business combination the excess is recognised separately on the face of the consolidated balance sheet immediately below goodwill.

All inter-group transactions, balances, income and expenses are eliminated in full on consolidation.

Investments in subsidiaries

Investments in subsidiaries are accounted for at cost less impairment in the individual financial statements.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses for the year. However, the nature of estimation means that actual outcomes could differ from those 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 if revision only affects that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following judgements have had the most significant effect on amounts recognised in the financial statements.

Claims

The group uses variety of techniques, both statistical and actuarial, to assess the likely run off of the policies on risk. Monthly management statistics include average claim costs, loss ratios and expected contribution to profit and expenses as well as a number of other parameters.

Bad and doubtful debts

A key area involving management judgement and estimate is in determining the provision for bad and doubtful debts for medical, rehabilitation and completed hire debts due.