Registered Number 00840234

F. R. BALL (INSURANCE) LIMITED

Abbreviated Accounts

31 December 2014

F. R. BALL (INSURANCE) LIMITED Registered Number 00840234

Abbreviated Balance Sheet as at 31 December 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 57,320 26,537
Investments 3 2,641 2,641
59,961 29,178
Current assets
Debtors 742,093 557,054
Cash at bank and in hand 228,829 202,376
970,922 759,430
Creditors: amounts falling due within one year (711,506) (532,665)
Net current assets (liabilities) 259,416 226,765
Total assets less current liabilities 319,377 255,943
Creditors: amounts falling due after more than one year (14,250) -
Provisions for liabilities (3,300) -
Total net assets (liabilities) 301,827 255,943
Capital and reserves
Called up share capital 4 1,000 1,000
Profit and loss account 300,827 254,943
Shareholders' funds 301,827 255,943
  • For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 2 March 2015

And signed on their behalf by:
V Wadsworth, Director

F. R. BALL (INSURANCE) LIMITED Registered Number 00840234

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover policy
Turnover includes Insurance and Building Society commissions and fees. Credit is taken for commissions when premiums and investments are received by the company. The company's entire turnover derives from within the United Kingdom.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estiimated useful life:

Land and buildings Leasehold 5% per annum on reducing balance basis
Fixtures, fittings & equipment 15% per annum on reducing balance basis or 20% straight
line basis
Motor vehicles 25% per annum on reducing balance basis

Other accounting policies
Group Accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

Insurance Broking Assets and Liabilities
The company acts as an agent in broking the insurable risks of its clients and generally is not liable as a principal for premiums due to underwriters nor for claims payable to clients. Notwithstanding the company's legal relationship with clients and underwriters, and since in practice premium and claim monies are usually accounted for by insurance intermediaries, it has followed generally accepted accounting practice by showing cash, debtors and creditors relating to insurance business as assets and liabilities of the company itself.

2Tangible fixed assets
£
Cost
At 1 January 2014 264,796
Additions 45,042
Disposals (18,500)
Revaluations -
Transfers -
At 31 December 2014 291,338
Depreciation
At 1 January 2014 238,259
Charge for the year 5,343
On disposals (9,584)
At 31 December 2014 234,018
Net book values
At 31 December 2014 57,320
At 31 December 2013 26,537

3Fixed assets Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:

Subsidiary Undertaking - Gateway Capital Ltd
Country of registration or incorporation - England and Wales
Class - Ordinary
Shares Hel - 100%

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:-

Gateway Capital Ltd
Principal activity - Finance providers
Capital and reserves 2014 - £4,160
Profit/(Loss) for the year - £61,338

The unlisted investment represents two Welsh Rugby Union Debentures which were acquired for £2,640.

4Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
1,000 Ordinary shares of £1 each 1,000 1,000