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Red Apple Group Limited |
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Strategic Report, Report of the Directors and |
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Audited Financial Statements for the Year Ended 31 December 2018 |
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Red Apple Group Limited |
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Strategic Report, Report of the Directors and |
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Audited Financial Statements for the Year Ended 31 December 2018 |
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Red Apple Group Limited |
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Company Information |
for the Year Ended 31 December 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
Radnor House |
Greenwood Close |
Cardiff Gate Business Park |
Cardiff |
CF23 8AA |
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BANKERS: |
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3rd Floor |
Windsor Court |
3 Windsor Place |
Cardiff |
CF10 3BX |
Red Apple Group Limited (Registered number: 02864963) |
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Strategic Report |
for the Year Ended 31 December 2018 |
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REVIEW OF BUSINESS |
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The results for Red Apple Group Limited "the company" show a pre tax profit of £275,546 (2017: |
£803,060) for the year and turnover of £12,334,380 (2017: £10,709,957). At year end the company |
had net assets of £2,374,741 (2017: £2,513,302). |
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Delivering world class service to its customers is at the core of the business and is demonstrated |
each and every day by the company's employees. |
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Red Apple Group Limited had its most successful year in 2018 and the finance channel continues |
to perform well. |
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With headcount at record levels we have taken the decision to move office and expect to be in our |
new premises in September 2019. The company recently achieved Silver status in what was the |
first attempt at gaining recognised status in Investors in Customers and for the third year running |
made it into the Sunday Times 100 Best Small Companies to work for achieving 24th place in the |
UK and 3rd in Wales. |
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PRINCIPAL RISKS AND UNCERTAINTIES |
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The board and senior management team have a detailed strategy for the identification, mitigation, |
management and removal of risk. The company maintains a comprehensive risk register which is |
reviewed monthly, and all appropriate action is taken. Risk management is discussed weekly at |
senior management meetings, and all necessary actions are taken to ensure the company actively |
manages each and every risk to the business. |
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Financial Risk |
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The company's earnings are underpinned by insurance commissions from renewal of policies, as |
well as the addition of new business. The company concentrates on the provision of a wide choice |
of insurance covers to enable policyholders to transact insurance business and remain loyal |
customers. There are however risks of changes to the competitive and economic environment. |
This risk is mitigated by weekly reviews of the cash position as well as the use of detailed |
forecasting models. |
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Operational Risk |
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As the company is primarily internet based there is a risk that the company will encounter internal |
or external system failures. The company has upgraded its recovery capability and disaster |
recovery protocols in order to ensure greater stability and service delivery. In supporting our |
on-going views in putting IT security at the core of what we do from a technological standpoint and |
to further enhance our preventative measures we introduced an AI powered security, incident and |
event monitoring solution in 2018. This has significantly increased our security monitoring and |
response capabilities. |
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Red Apple Group Limited (Registered number: 02864963) |
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Strategic Report |
for the Year Ended 31 December 2018 |
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Regulatory and Compliance Risk |
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There is a risk that if the company is non-compliant in any area of the business it could suffer |
financial losses, reputational damage and could lose its FCA authorisation. The company mitigates |
this risk by having regular insurer audits, its compliance team attends regular FCA held |
seminars/meetings, and it provides comprehensive training and call quality monitoring of each |
employee. |
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Insurance Premium Changes |
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The UK insurance industry is cyclical and volatile in nature due to competition and general market |
conditions, and as the company's income is driven by insurance premiums, any change can have a |
big effect. To mitigate the risk of varying premium amounts the company has a large number of |
insurers and products to choose from. The company has a dedicated team who monitor |
management information on a daily basis and take action where required. |
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KEY PERFORMANCE INDICATORS |
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The company have a number of KPIs to which everything is measured. The main financial KPIs |
are detailed below. |
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KPIs for the year ended 31 December 2018: |
Turnover - £12,300,000 |
Gross Profit - £6,780,000 |
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KPIs for the year ended 31 December 2017: |
Turnover - £10,700,000 |
Gross Profit - £5,350,000 |
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Other important non-financial KPIs are the companies World Class Service KPIs. These are based |
on the following; |
- Call quality |
- First call resolution |
- Prompt and accurate resolution of complaints |
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THIS REPORT WAS APPROVED BY THE BOARD: |
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Red Apple Group Limited (Registered number: 02864963) |
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Report of the Directors |
for the Year Ended 31 December 2018 |
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The directors present their report with the financial statements of the company for the year ended 31 December 2018. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of
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DIVIDENDS |
The total distribution of dividends for the year ended 31 December 2018 was £400,000 (2017 - |
£nil). |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2018 to |
the date of this report. |
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Other changes in directors holding office are as follows: |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and |
the financial statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under |
that law the directors have elected to prepare the financial statements in accordance with United |
Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and |
applicable law). Under company law the directors must not approve the financial statements unless |
they are satisfied that they give a true and fair view of the state of affairs of the company and of |
the profit or loss of the company for that period. In preparing these financial statements, the |
directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- |
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show |
and explain the company's transactions and disclose with reasonable accuracy at any time the |
financial position of the company and enable them to ensure that the financial statements comply |
with the Companies Act 2006. They are also responsible for safeguarding the assets of the |
company and hence for taking reasonable steps for the prevention and detection of fraud and |
other irregularities. |
Red Apple Group Limited (Registered number: 02864963) |
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Report of the Directors |
for the Year Ended 31 December 2018 |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 |
of the Companies Act 2006) of which the company's auditors are unaware, and each director has |
taken all the steps that he or she ought to have taken as a director in order to make himself or |
herself aware of any relevant audit information and to establish that the company's auditors are |
aware of that information. |
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THIS REPORT WAS APPROVED BY THE BOARD: |
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Report of the Independent Auditors to the Members of |
Red Apple Group Limited |
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Opinion |
We have audited the financial statements of Red Apple Group Limited (the 'company') for the year |
ended 31 December 2018 which comprise the Profit and Loss Account, Balance Sheet, Statement |
of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the |
Financial Statements, including a summary of significant accounting policies. The financial |
reporting framework that has been applied in their preparation is applicable law and United |
Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial |
Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally |
Accepted Accounting Practice). |
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In our opinion the financial statements: |
- |
give a true and fair view of the state of the company's affairs as at 31 December 2018 and of its
profit for the year then ended; |
- |
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) |
and applicable law. Our responsibilities under those standards are further described in the |
Auditors' responsibilities for the audit of the financial statements section of our report. We are |
independent of the company in accordance with the ethical requirements that are relevant to our |
audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have |
fulfilled our other ethical responsibilities in accordance with these requirements. We believe that |
the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
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Conclusions relating to going concern |
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) |
require us to report to you where: |
- |
the directors' use of the going concern basis of accounting in the preparation of the financial
statements is not appropriate; or |
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the directors have not disclosed in the financial statements any identified material uncertainties
that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
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Other information |
The directors are responsible for the other information. The other information comprises the |
information in the Strategic Report and the Report of the Directors, but does not include the |
financial statements and our Report of the Auditors thereon. |
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Our opinion on the financial statements does not cover the other information and, except to the |
extent otherwise explicitly stated in our report, we do not express any form of assurance |
conclusion thereon. |
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In connection with our audit of the financial statements, our responsibility is to read the other |
information and, in doing so, consider whether the other information is materially inconsistent with |
the financial statements or our knowledge obtained in the audit or otherwise appears to be |
materially misstated. If we identify such material inconsistencies or apparent material |
misstatements, we are required to determine whether there is a material misstatement in the |
financial statements or a material misstatement of the other information. If, based on the work we |
have performed, we conclude that there is a material misstatement of this other information, we |
are required to report that fact. We have nothing to report in this regard. |
Report of the Independent Auditors to the Members of |
Red Apple Group Limited |
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Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
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the information given in the Strategic Report and the Report of the Directors for the financial
year for which the financial statements are prepared is consistent with the financial statements; and |
- |
the Strategic Report and the Report of the Directors have been prepared in accordance with
applicable legal requirements. |
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Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in |
the course of the audit, we have not identified material misstatements in the Strategic Report or |
the Report of the Directors. |
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We have nothing to report in respect of the following matters where the Companies Act 2006 |
requires us to report to you if, in our opinion: |
- |
adequate accounting records have not been kept, or returns adequate for our audit have not
been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
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Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the |
directors are responsible for the preparation of the financial statements and for being satisfied that |
they give a true and fair view, and for such internal control as the directors determine necessary to |
enable the preparation of financial statements that are free from material misstatement, whether |
due to fraud or error. |
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In preparing the financial statements, the directors are responsible for assessing the company's |
ability to continue as a going concern, disclosing, as applicable, matters related to going concern |
and using the going concern basis of accounting unless the directors either intend to liquidate the |
company or to cease operations, or have no realistic alternative but to do so. |
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Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a |
whole are free from material misstatement, whether due to fraud or error, and to issue a Report of |
the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is |
not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material |
misstatement when it exists. Misstatements can arise from fraud or error and are considered |
material if, individually or in the aggregate, they could reasonably be expected to influence the |
economic decisions of users taken on the basis of these financial statements. |
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A further description of our responsibilities for the audit of the financial statements is located on the |
Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description |
forms part of our Report of the Auditors. |
Report of the Independent Auditors to the Members of |
Red Apple Group Limited |
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Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of |
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to |
the company's members those matters we are required to state to them in a Report of the Auditors |
and for no other purpose. To the fullest extent permitted by law, we do not accept or assume |
responsibility to anyone other than the company and the company's members as a body, for our |
audit work, for this report, or for the opinions we have formed. |
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for and on behalf of
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Chartered Accountants |
Statutory Auditor |
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Red Apple Group Limited (Registered number: 02864963) |
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Profit and Loss Account |
for the Year Ended 31 December 2018 |
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2018 | 2017 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
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Administrative expenses | ( |
) | ( |
) |
145,546 | 781,583 |
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Other operating income | 2 |
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OPERATING PROFIT | 4 |
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Interest receivable & similar income |
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PROFIT BEFORE TAXATION |
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Tax on profit | 5 | ( |
) | ( |
) |
PROFIT FOR THE FINANCIAL YEAR |
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OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR |
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Red Apple Group Limited (Registered number: 02864963) |
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Balance Sheet |
31 December 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 8 |
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Tangible assets | 9 |
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CURRENT ASSETS |
Debtors | 10 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 11 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 14 |
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Retained earnings | 15 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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Red Apple Group Limited (Registered number: 02864963) |
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Statement of Changes in Equity |
for the Year Ended 31 December 2018 |
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Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
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Balance at 1 January 2017 |
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Changes in equity |
Total comprehensive income | - |
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Balance at 31 December 2017 |
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Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
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Balance at 31 December 2018 |
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Red Apple Group Limited (Registered number: 02864963) |
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Cash Flow Statement |
for the Year Ended 31 December 2018 |
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2018 | 2017 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | ( |
) |
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Tax paid | ( |
) | ( |
) |
Net cash from operating activities | ( |
) | ( |
) |
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Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
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Interest received |
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Net cash from investing activities | ( |
) |
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Cash flows from financing activities |
Equity dividends paid | ( |
) |
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Net cash from financing activities | ( |
) |
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Decrease in cash and cash equivalents | ( |
) | ( |
) |
Cash and cash equivalents at
beginning of year |
2 |
2,996,240 |
3,049,562 |
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Cash and cash equivalents at end
of year |
2 |
1,873,535 |
2,996,240 |
Red Apple Group Limited (Registered number: 02864963) |
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Notes to the Cash Flow Statement |
for the Year Ended 31 December 2018 |
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1. |
RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS |
2018 | 2017 |
£ | £ |
Profit before taxation |
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Depreciation charges |
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Profit on disposal of fixed assets |
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( |
) |
Finance income |
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( |
) |
304,495 | 826,615 |
Increase in trade and other debtors | ( |
) | ( |
) |
(Decrease)/increase in trade and other creditors | ( |
) |
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Cash generated from operations | ( |
) |
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2. | CASH AND CASH EQUIVALENTS |
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The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents |
are in respect of these Balance Sheet amounts: |
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Year ended 31 December 2018 |
31/12/18 | 1/1/18 |
£ | £ |
Cash and cash equivalents |
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2,996,240 |
Year ended 31 December 2017 |
31/12/17 | 1/1/17 |
£ | £ |
Cash and cash equivalents |
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3,049,562 |
Red Apple Group Limited (Registered number: 02864963) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents brokerage income from the sale of insurance policies, and interest |
income received from the provision of finance to fund the purchase of insurance policies. |
Brokerage income is recognised upon inception of the corresponding insurance policy. |
Interest income is recognised over the repayment period of the finance provided, and |
represents a constant proportion of the balance of repayments outstanding. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are |
measured at cost less any accumulated amortisation and any accumulated impairment |
losses. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and |
Loss Account, except to the extent that it relates to items recognised in other comprehensive |
income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Red Apple Group Limited (Registered number: 02864963) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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1. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
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Pension costs |
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. |
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Insurance balances |
The company acts as an insurance intermediary and is not liable for premiums due to |
underwriters or for claims payable to clients. Notwithstanding this legal relationship with |
clients and underwriters, the company follows generally accepted accounting practice by |
showing debtors, cash and creditors relating to insurance business as assets and liabilities |
of the company itself. The company receives premiums and premium refunds under risk |
transfer agreements with underwriters. |
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Hire purchase and leasing commitments |
Assets held under finance leases and hire purchase contracts, which are those where |
substantially all the risks and rewards of ownership of the asset have passed to the |
company, are capitalised in the balance sheet and depreciated over their useful lives. |
|
The interest element of the rental obligations is charged to the profit and loss account over |
the period of the lease and represents a constant proportion of the balance of capital |
repayments outstanding. |
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Rentals paid under operating leases are charged to income on a straight line basis over the |
lease term. |
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2. | OTHER OPERATING INCOME |
2018 | 2017 |
£ | £ |
Sale of capital asset - |
intangible software costs | 130,000 | - |
Red Apple Group Limited (Registered number: 02864963) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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3. | EMPLOYEES AND DIRECTORS |
2018 | 2017 |
£ | £ |
Wages and salaries |
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Social security costs |
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Other pension costs |
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The average number of employees during the year was as follows: |
2018 | 2017 |
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Employees |
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|
2018 | 2017 |
£ | £ |
Directors' remuneration |
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Information regarding the highest paid director is as follows: |
2018 | 2017 |
£ | £ |
Emoluments etc |
|
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4. | OPERATING PROFIT |
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The operating profit is stated after charging/(crediting): |
|
2018 | 2017 |
£ | £ |
Depreciation - owned assets |
|
|
Profit on disposal of fixed assets |
|
( |
) |
Audit fees |
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Auditors' remuneration for non audit work |
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5. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2018 | 2017 |
£ | £ |
Current tax: |
UK corporation tax |
|
|
Tax on profit |
|
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Red Apple Group Limited (Registered number: 02864963) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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5. | TAXATION - continued |
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Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. |
The difference is explained below: |
|
2018 | 2017 |
£ | £ |
Profit before tax |
|
|
Profit multiplied by the standard rate of corporation tax in the
UK of |
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|
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Effects of: |
Expenses not deductible for tax purposes |
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Capital allowances in excess of depreciation | ( |
) | - |
Depreciation in excess of capital allowances | - |
|
Adjustments to tax charge in respect of previous periods |
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Refund received in relation to R&D claim for year ended 2016 | (37,634 | ) | - |
Total tax charge | 14,107 | 158,125 |
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The UK Corporation Tax rate changed from 20% to 19% with effect from 1 April 2017. As |
such the standard rate of corporation tax for the previous year was 19.25%. |
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6. | DIVIDENDS |
2018 | 2017 |
£ | £ |
Ordinary shares of £1 each |
Paid |
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7. | INTEREST PAYABLE AND SIMILAR EXPENSES |
|
2018 | 2017 |
£ | £ |
Interest payable on finance facility | 121,381 | 49,728 |
121,381 | 49,728 |
Red Apple Group Limited (Registered number: 02864963) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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8. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2018 |
and 31 December 2018 |
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AMORTISATION |
At 1 January 2018 |
and 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
|
At 31 December 2017 |
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9. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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Red Apple Group Limited (Registered number: 02864963) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments & accrued income |
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11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors & accruals |
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12. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
In more than five years |
|
|
|
|
|
13. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2018 | 2017 |
£ | £ |
Receivables Finance Facility |
|
6,378,559 |
|
The receivables finance facility is secured by a fixed and floating charge over the assets of |
the company. |
Red Apple Group Limited (Registered number: 02864963) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
|
|
14. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
|
Ordinary | £1 |
|
|
|
15. | RESERVES |
Retained |
earnings |
£ |
|
At 1 January 2018 |
|
Profit for the year |
|
Dividends | ( |
) |
At 31 December 2018 |
|
Red Apple Group Limited (Registered number: 02864963) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
|
|
16. | RELATED PARTY DISCLOSURES |
|
a) Related parties |
|
(i) Common directorship/ownership:- |
Protect Commercial Insurance Solutions Limited |
Mela Rossa Limited |
AAM Enterprises Limited |
Red Apple Finance Limited |
Source Insurance Limited |
|
(ii) Other/director:- |
A A Masters |
|
b) Loans between related parties | Debtor/ |
Received | Paid | Written off | (creditor | ) |
in year | in year | in year | at year end |
£ | £ | £ | £ |
2018 |
Red Apple Finance Limited | (12,069 | ) | 30,513 | - | 18,444 |
Protect Commercial Insurance
Solutions Limited |
(17,995 |
) |
19,919 |
- |
2,926 |
Mela Rossa Limited | (397,226 | ) | 406,925 | - | (17,137 | ) |
2017 |
Protect Commercial Insurance
Solutions Limited |
(44,333 |
) |
21,657 |
- |
1,002 |
Mela Rossa Limited | (338,415 | ) | 337,498 | - | (26,836 | ) |
|
c) Consultancy services from related parties | Net value | Balance |
of supply | owed at |
in year | year end |
£ | £ |
2018 |
Other/director | - | - |
2017 |
Other/director | 60,750 | - |
d) Rent paid to related parties | Net value | Balance |
of supply | owed at |
in year | year end |
£ | £ |
2018 |
Other/director | 60,000 | - |
2017 |
Other/director | 60,000 | - |
Red Apple Group Limited (Registered number: 02864963) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
|
|
17. | ULTIMATE CONTROLLING PARTY |
|
The controlling party is A A Masters. |