Trust Insurance Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04269590 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

TRUST INSURANCE SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Parrish

Mrs R E Parrish

REGISTERED OFFICE:

1 Scirocco Close

Moulton Park

Northampton

Northamptonshire

NN3 6AP

REGISTERED NUMBER:

04269590 (England and Wales)

ACCOUNTANTS:

GB Accounting Solutions Limited

Building 115

Bedford Technology Park

Thurleigh

Bedford

Bedfordshire

MK44 2YA

FIXED ASSETS

Tangible assets

4

2,883

3,339

CURRENT ASSETS

Debtors

5

337,864

188,326

Cash at bank

4,641,032

4,526,070

4,978,896

4,714,396

CREDITORS

Amounts falling due within one year

6

(1,108,812

)

(1,612,664

)

NET CURRENT ASSETS

3,870,084

3,101,732

TOTAL ASSETS LESS CURRENT LIABILITIES

3,872,967

3,105,071

PROVISIONS FOR LIABILITIES

(307

)

(307

)

NET ASSETS

3,872,660

3,104,764

CAPITAL AND RESERVES

Called up share capital

103

103

Capital redemption reserve

7

192

192

Retained earnings

7

3,872,365

3,104,469

SHAREHOLDERS' FUNDS

3,872,660

3,104,764

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 on 7 November 2019 and were signed on its behalf by:

G Parrish - Director

1.	STATUTORY INFORMATION

Trust Insurance 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.

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

-

25% on reducing balance and at varying rates 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Trust

The Company has created a trust whose beneficiaries will include employees of the Company and their

dependents. Assets held under this trust will be controlled by trustees who will be acting independently and

entirely at their own discretion.

Where assets are held in the trust and these are considered by the Company to be in respect of services already

provided by employees to the Company, the Company will account for these as assets of the trust when payment

is made to the trust. The value transferred will be charged in the Company's profit and loss account for the year

to which relates.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2018 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 October 2018

and 30 September 2019

7,577

60,015

67,592

DEPRECIATION

At 1 October 2018

4,238

60,015

64,253

Charge for year

456

-

456

At 30 September 2019

4,694

60,015

64,709

NET BOOK VALUE

At 30 September 2019

2,883

-

2,883

At 30 September 2018

3,339

-

3,339

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade debtors

123,426

171,551

Other debtors

214,438

16,775

337,864

188,326

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade creditors

920,930

870,016

Taxation and social security

162,745

380,188

Other creditors

25,137

362,460

1,108,812

1,612,664

7.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 October 2018

3,104,469

192

3,104,661

Profit for the year

1,727,324

1,727,324

Dividends

(959,428

)

(959,428

)

At 30 September 2019

3,872,365

192

3,872,557

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G Parrish.