Ian Macdonald Insurance Services Ltd - Limited company - abbreviated

REGISTERED NUMBER: 01567139 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2015

for

Ian Macdonald Insurance Services Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

I A Macdonald

REGISTERED OFFICE:

113 High Street

Midsomer Norton

Bath

Somerset

BA3 2DA

REGISTERED NUMBER:

01567139 (England and Wales)

ACCOUNTANTS:

King Watkins Ltd

The Island House

Midsomer Norton

Radstock

Somerset

BA3 2DZ

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

18,807

19,012

18,807

19,012

CURRENT ASSETS

Debtors

53,919

25,383

Cash at bank and in hand

111,413

126,953

165,332

152,336

CREDITORS

Amounts falling due within one year

90,568

79,654

NET CURRENT ASSETS

74,764

72,682

TOTAL ASSETS LESS CURRENT LIABILITIES

93,571

91,694

PROVISIONS FOR LIABILITIES

2,255

2,149

NET ASSETS

91,316

89,545

CAPITAL AND RESERVES

Called up share capital

4

1,001

Share premium

199

Profit and loss account

90,116

88,345

SHAREHOLDERS' FUNDS

91,316

89,545

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 27 October 2015 and were signed by:

I A Macdonald - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting

Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents commissions receivable from insurance companies and also administration fees charged on policies.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

2% on cost

Fixtures and fittings

-

15% Straight line, 10% Residual value

Motor vehicles

-

25% Straight line, 20% Residual value

Computer equipment

-

25% Straight line, 20% Residual value

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

and 30 June 2015

81,116

AMORTISATION

At 1 July 2014

and 30 June 2015

81,116

NET BOOK VALUE

At 30 June 2015

-

At 30 June 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

and 30 June 2015

110,341

DEPRECIATION

At 1 July 2014

91,329

Charge for year

205

At 30 June 2015

91,534

NET BOOK VALUE

At 30 June 2015

18,807

At 30 June 2014

19,012

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.15

30.6.14

value:

£

1,000

Ordinary

£1

1,000

1

Ordinary B

£1

1

1,001

5.	RELATED PARTY DISCLOSURES

At 30 June 2015 I A Macdonald owed the company £34355 (2014: £8215). This amount is unsecured and interest free and £14,355 of this

amount was cleared subsequent to year end.

During the financial year the following dividends were paid to the director:

I A Macdonald £28,000 in respect of ordinary shares (2014: £32,100).

6.	CONTROLLING PARTY

The company was under the control of I A Macdonald throughout the current year and previous year. I A Macdonald is the managing

director and sole shareholder.

Ian Macdonald Insurance Services Ltd - Limited company - abbreviated - 11.9

Ian Macdonald Insurance Services Ltd - Limited company - abbreviated - 11.9