# Audit result

*The business owner, finding out what their own books say they need and what it would cost.*

- Business: Calder Electrical Services Ltd (`calder-electrical`), fictional, with synthetic transactions
- Rendered from: https://itspickle.app/audit?demo=calder-electrical
- As JSON: https://itspickle.app/api/audit?demo=calder-electrical

## The verdict

**Tools & Materials is insured for £2,500 against an indicated £7,500**

That is a shortfall of £5,000, about 67%, and the sum insured was last set in October 2018. Where a policy carries an average clause, a shortfall of this size can reduce every settlement by the same proportion, including partial losses well below the sum insured.

1 urgent finding, 4 findings in total, across 5 cover lines.

## The position

What the books indicate, against what is actually held.

| Cover | Basis | Indicated | Held |
|---|---|---|---|
| Employers' Liability | legal | £10,000,000 | £10,000,000 |
| Public Liability | exposure | £5,000,000 | £2,000,000 |
| Tools & Materials | exposure | £7,500 (£7,500) | £2,500 |
| Contract Works | exposure | £35,000 (£35,000) | nothing on file |
| Legal Expenses | recommended | null | nothing on file |

## Findings

| Severity | Finding | Detail |
|---|---|---|
| urgent | Tools & Materials is insured for £2,500 against an indicated £7,500 | That is a shortfall of £5,000, about 67%, and the sum insured was last set in October 2018. Where a policy carries an average clause, a shortfall of this size can reduce every settlement by the same proportion, including partial losses well below the sum insured. |
| attention | Public Liability is held at £2,000,000 against an indicated £5,000,000 | A liability limit pays in full up to the limit and nothing above it, so this is not a proportional shortfall like an under-set sum insured. It is the point at which a large claim stops being covered, and the limit was last set in October 2018. |
| attention | No Contract Works recorded | Covers redoing work that is damaged on site before it is handed over. Sized at about a quarter of annual turnover, which is a working estimate of the biggest job likely to be open at any one time. |
| good | No Legal Expenses recorded | Covers the legal bill when there is a dispute. Once there are staff there can be an employment tribunal, which is the most common legal expenses claim at this size of business. |

## What was read

| Source | Read | Detail |
|---|---|---|
| companies_house | yes | Calder Electrical Services Ltd (10938471), SIC 43210 |
| website | yes | Reads as electrician (high confidence), accreditations: NICEIC |
| transactions | yes | 102 rows over 16 months. payroll £35,040/yr, 4 asset purchases, insurer seen: HISCOX |

## The profile

- Company: Calder Electrical Services Ltd, number 10938471
- Trade: electrician (high confidence, from website)
- Turnover band: 100k_150k
- Employees: 1 (low confidence)
- Payroll run rate: £35,040
- Register: 5 items, tools at £7,469 replacement value

Payroll proves at least one employee, never how many. A single-employee company whose employee owns
50% or more of the shares is exempt from compulsory employers' liability.

## Still to confirm

- **How many people does the business employ, excluding directors and partners?** Found: At least 1, from wages running at about £35,040 a year over 12 months (transactions, low confidence)
- **Are these 5 items right, and is anything missing?** Found: £7,469 of tools at today's replacement cost (transactions, high confidence)

## Indicative price

£75.84 to £118.63 a month, £910 to £1,424 a year.

Anchored on Admiral Business's published Public Liability rate of £6.07 a month (single carpenter, £1,000,000 cover, as at 22 April 2026). Employers' Liability: 1 employee at £5 for the first and £3.5 thereafter, × 1.10 trade risk. Public Liability: £6.07 anchor × 1.1 trade risk × 1.6 cover level × 1.5 turnover. Tools & Materials: 7.5% a year on a £7,500 sum insured. Contract Works: 0.8% a year on a £35,000 sum insured. Legal Expenses: flat £5.5. Band is ±22%.

This is a band derived from published rates. It is not a quote, it is not an offer of cover, and
nothing on this deployment can bind cover.

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Illustrative only. This is a statement of demands and needs based on public records and information you confirm, not a personal recommendation or a quote. Prices are banded estimates derived from published rates and are not an offer of cover.