annual report and
accounts 2005 highlights of 2005    1
company information    2
chairman’s statement    3
chief executive’s report    4
board of directors    6
directors’ report    8
corporate governance report    11
statement of directors’ responsibilities    15
independent auditors’ report to the members    16
consolidated income statement    18
consolidated statement of changes in shareholders’ equity    19
consolidated balance sheet    20
company balance sheet    21
consolidated cash flow statement    22
notes to the financial statements    23
notice of annual general meeting    35
contents annual report and accounts 2005 1


Summary:
 annual report and accounts 2005 3
i am pleased to be able to announce our results for the
financial year which demonstrate the group’s resilience in
adverse trading conditions as you will see turnover for
2005 increased modestly by 2 to £271 million 2004
£267 million although profit after tax decreased to
£51941 2004 £278163  
overall we had a challenging year as the mild weather
depressed claims volumes which have of course
traditionally been significantly dependant on weather
related losses nevertheless we have continued our efforts
to reduce our reliance on such losses with significant
success in the second half of the year consultancy
income increased to £359000 2004 £48000 and we
also commenced the first stage of our partnership
relationship with capita insurance services by entering into a contract to provide liability
adjusting services
costs and cashflow continue to be monitored carefully and additional margin gains are
achievable as our level of activity increases  
whilst the current financial year commencing 1st january continues to display low
volumes of weather related claims we anticipate that the group’s results will ultimately
benefit from our efforts to diversify our services 
we remain committed to investment in our information technology infrastructure and
expect to make further advancements in the use of it in our field adjusting services
as always i wish to thank our loyal employees and our shareholders for their support  
john french
chairman
22nd march 2006
chairman’s statement