Registered Number 00840234

F. R. BALL (INSURANCE) LIMITED

Abbreviated Accounts

31 December 2013

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

Abbreviated Balance Sheet as at 31 December 2013

Notes 2013 2012
£ £
Fixed assets
Tangible assets 2 26,537 32,491
Investments 3 2,641 2,641
29,178 35,132
Current assets
Debtors 557,054 433,538
Cash at bank and in hand 202,376 134,424
759,430 567,962
Creditors: amounts falling due within one year 4 (532,664) (369,428)
Net current assets (liabilities) 226,766 198,534
Total assets less current liabilities 255,944 233,666
Creditors: amounts falling due after more than one year 4 - (4,391)
Total net assets (liabilities) 255,944 229,275
Capital and reserves
Called up share capital 5 1,000 1,000
Profit and loss account 254,944 228,275
Shareholders' funds 255,944 229,275
  • For the year ending 31 December 2013 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 4 June 2014

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 2013

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated 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 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 principle for premiums due to underwriters not 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 liabilitites of the company itself.

2Tangible fixed assets
£
Cost
At 1 January 2013 264,796
Additions -
Disposals -
Revaluations -
Transfers -
At 31 December 2013 264,796
Depreciation
At 1 January 2013 232,305
Charge for the year 5,954
On disposals -
At 31 December 2013 238,259
Net book values
At 31 December 2013 26,537
At 31 December 2012 32,491

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:

Company Country of registration of incorporation Class Shares held

Subsidiary undertakings
Gateway Capital Ltd England and Wales Ordinary 100%

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 Profit/(Loss) for the year
Principal Activity 2013 2013
Gateway Capital Ltd Finance providers £2,822 £50,317

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

4Creditors
2013
£
2012
£
Secured Debts 0 9,181
5Called Up Share Capital
Allotted, called up and fully paid:
2013
£
2012
£
1 Ordinary shares of £1,000 each 1,000 1,000