Registered Number 00840234

F. R. BALL (INSURANCE) LIMITED

Abbreviated Accounts

31 December 2012

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

Abbreviated Balance Sheet as at 31 December 2012

Notes 2012 2011
£ £
Fixed assets
Tangible assets 2 32,491 43,088
Investments 3 2,641 2,641
35,132 45,729
Current assets
Debtors 433,538 317,253
Cash at bank and in hand 134,424 186,285
567,962 503,538
Creditors: amounts falling due within one year 4 (369,428) (328,340)
Net current assets (liabilities) 198,534 175,198
Total assets less current liabilities 233,666 220,927
Creditors: amounts falling due after more than one year 4 (4,391) (9,180)
Provisions for liabilities - (1,300)
Total net assets (liabilities) 229,275 210,447
Capital and reserves
Called up share capital 5 1,000 1,000
Profit and loss account 228,275 209,447
Shareholders' funds 229,275 210,447
  • For the year ending 31 December 2012 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 24 June 2013

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 2012

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 represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildngs 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 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 2012 264,796
Additions -
Disposals -
Revaluations -
Transfers -
At 31 December 2012 264,796
Depreciation
At 1 January 2012 221,708
Charge for the year 10,597
On disposals -
At 31 December 2012 232,305
Net book values
At 31 December 2012 32,491
At 31 December 2011 43,088

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

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

Gateway Capital Ltd 100% shares held

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

Capital and reserves £,2505
Profit for the year £43,556

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

4Creditors
2012
£
2011
£
Secured Debts 9,181 13,970
5Called Up Share Capital
Allotted, called up and fully paid:
2012
£
2011
£
1,000 Ordinary shares of £1 each 1,000 1,000