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REGISTERED NUMBER:
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DAVID SCOTT UNDERWRITING LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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REGISTERED NUMBER:
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DAVID SCOTT UNDERWRITING LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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DAVID SCOTT UNDERWRITING LIMITED (REGISTERED NUMBER: 03637837) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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DAVID SCOTT UNDERWRITING LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 December 2017 |
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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 and Statutory Auditor |
7-9 The Avenue |
Eastbourne |
East Sussex |
BN21 3YA |
DAVID SCOTT UNDERWRITING LIMITED (REGISTERED NUMBER: 03637837) |
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BALANCE SHEET |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ |
TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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DAVID SCOTT UNDERWRITING LIMITED (REGISTERED NUMBER: 03637837) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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David Scott Underwriting Limited is a
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The company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Accounting convention |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
of Financial Reporting Standard 102 " The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Lloyd's underwriting activities |
The company underwrote at Lloyd's on a limited liability basis until 31 December 2011 and was closed by |
reinsurance with effect from 31 December 2014. |
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The payment of a reinsurance to close premium does not eliminate totally the liability of the closed year for |
outstanding claims. If the reinsuring syndicate were unable to meet its obligations and other elements of the |
Lloyd's chain of security were to fail, then the members of the closed underwriting year would have to settle |
outstanding claims. The directors consider that the likelihood of such a failure of the reinsurance to close is |
extremely remote and, therefore, the reinsurance to close has been deemed to settle liabilities outstanding at |
the close of the underwriting accounts and no further provision has been made for any potential variation in |
the ultimate liability of that year of account. |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | 25p |
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1,750 |
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4. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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5. | ULTIMATE CONTROLLING PARTY |
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The parent company is Fidentia Holdings Limited. There is no ultimate controlling party. |