Yes, it is possible.
You have to exchange the "Canon PowerShot S110 FLASH ASS'Y Replacement Repair Part".
This is hard to find but i got it on http://www.ebay.com/itm/Canon-PowerShot-S110-FLASH-ASSY-Replacement-Repair-Par-/331748503071
Use the dis-assembly instruction for the display and remove further the copper foil under the display to find 2 further screws on the camera backside, remove these and also one screw on the assy frontside. Carefully disconnect the foil plug of the build-in assy and you can easily do a drop-in replacement of the assy.
My camera is again working.
Never manually push-in the flash of the camera. This will destroy the camera flash assy.
Good luck ;) !!