Company Registration No. 11222524 (England and Wales)
Insurtech Insights Limited
Unaudited accounts
for the year ended 31 December 2022
Insurtech Insights Limited
Unaudited accounts
Contents
Insurtech Insights Limited
Company Information
for the year ended 31 December 2022
Director
Kristoffer Juhl Lundberg
Company Number
11222524 (England and Wales)
Registered Office
21 BUCKINGHAM GATE
LONDON
SW1E 6LB
ENGLAND
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
Insurtech Insights Limited
Accountants' report
Accountants' report to the director of Insurtech Insights Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Insurtech Insights Limited for the year ended
31 December 2022 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Insurtech Insights Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Insurtech Insights Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Insurtech Insights Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Insurtech Insights Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Insurtech Insights Limited. You consider that Insurtech Insights Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Insurtech Insights Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
20 December 2023
Insurtech Insights Limited
Statement of financial position
as at 31 December 2022
Tangible assets
2,848
1,363
Cash at bank and in hand
616,293
244,794
Creditors: amounts falling due within one year
(4,056,992)
(2,233,717)
Net current liabilities
(1,851,270)
(1,331,925)
Total assets less current liabilities
(1,848,422)
(1,330,562)
Creditors: amounts falling due after more than one year
994,812
560,815
Net liabilities
(853,610)
(769,747)
Called up share capital
1
1
Profit and loss account
(853,611)
(769,748)
Shareholders' funds
(853,610)
(769,747)
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 February 2024 and were signed on its behalf by
Kristoffer Juhl Lundberg
Director
Company Registration No. 11222524
Insurtech Insights Limited
Notes to the Accounts
for the year ended 31 December 2022
Insurtech Insights Limited is a private company, limited by shares, registered in England and Wales, registration number 11222524. The registered office is 21 BUCKINGHAM GATE, LONDON, SW1E 6LB, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The company has been impacted by the recent pandemic with conferences being deferred. The board have confirmed that the company will be profit making in the next 5 years and intends to continue trading.
4
Tangible fixed assets
Computer equipment
Insurtech Insights Limited
Notes to the Accounts
for the year ended 31 December 2022
Amounts falling due within one year
Trade debtors
1,065,671
656,148
Deferred tax asset
229,397
-
Accrued income and prepayments
294,360
-
6
Creditors: amounts falling due within one year
2022
2021
Trade creditors
511,041
(51,933)
Taxes and social security
9,939
247,929
Deferred income
2,207,544
1,955,396
7
Creditors: amounts falling due after more than one year
2022
2021
Other creditors
(696,126)
(560,815)
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
As at year end, the director Mr Kristoffer Lundberg was owed £849.76, this has been loaned at an interest rate of 0% and is deemed repayable upon demand. Mr Kristoffer Lundberg will not be subject to s.455 tax.
9
Transactions with related parties
Loan to Ondacraft Limited - £30,000
Loan to Presidents Summit Limited - £7,025
These loans are repayable on demand and do not bear interest.
10
Average number of employees
During the year the average number of employees was 7 (2021: 7).