ULR parent reports £3m loss

Turnover hit nearly £16m but this was outstripped by the cost of sales which came in at over £18m.

The figures were revealed as the company filed its 2010 accounts at Companies House at the end of December 2011.

Part of the loss at the legal expenses and add-on specialist was put down to a payment of dividends of nearly £1.2m in 2009/10 that were based on flawed accounting practices.

Sharon Nurse, client services director at Motorplus explained to Insurance Age that the anomaly had occurred as a