16 30/06/2023 2023-06-30 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-07-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03673499 2022-07-01 2023-06-30 03673499 2023-06-30 03673499 2022-06-30 03673499 2021-07-01 2022-06-30 03673499 2022-06-30 03673499 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 03673499 bus:RegisteredOffice 2022-07-01 2023-06-30 03673499 bus:Director1 2022-07-01 2023-06-30 03673499 bus:Director2 2022-07-01 2023-06-30 03673499 bus:Director3 2022-07-01 2023-06-30 03673499 bus:CompanySecretary1 2022-07-01 2023-06-30 03673499 core:FurnitureFittingsToolsEquipment 2022-06-30 03673499 core:FurnitureFittingsToolsEquipment 2023-06-30 03673499 core:WithinOneYear 2023-06-30 03673499 core:WithinOneYear 2022-06-30 03673499 core:ShareCapital 2023-06-30 03673499 core:ShareCapital 2022-06-30 03673499 core:SharePremium 2023-06-30 03673499 core:SharePremium 2022-06-30 03673499 core:RetainedEarningsAccumulatedLosses 2023-06-30 03673499 core:RetainedEarningsAccumulatedLosses 2022-06-30 03673499 core:BetweenOneFiveYears 2023-06-30 03673499 core:FurnitureFittingsToolsEquipment 2022-06-30 03673499 bus:SmallEntities 2022-07-01 2023-06-30 03673499 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 03673499 bus:FullAccounts 2022-07-01 2023-06-30 03673499 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 03673499 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30
Company registration number: 03673499
Nsure Limited
Unaudited filleted financial statements
30 June 2023
Nsure Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Nsure Limited
Directors and other information
Directors Mr A R Cohen (Resigned 9 November 2023)
Mr P R Bristow
Mr D A Coleman (Appointed 9 November 2023)
Secretary A Hunter
Company number 03673499
Registered office 7th Floor Corn Exchange
55 Mark Lane
London
EC3R 7NE
Nsure Limited
Statement of financial position
30 June 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 5,736 4,729
_______ _______
5,736 4,729
Current assets
Debtors 6 701,041 574,282
Cash at bank and in hand 279,689 214,196
_______ _______
980,730 788,478
Creditors: amounts falling due
within one year 7 ( 611,829) ( 430,805)
_______ _______
Net current assets 368,901 357,673
_______ _______
Total assets less current liabilities 374,637 362,402
_______ _______
Net assets 374,637 362,402
_______ _______
Capital and reserves
Called up share capital 3,333 3,333
Share premium account 49,667 49,667
Profit and loss account 321,637 309,402
_______ _______
Shareholders funds 374,637 362,402
_______ _______
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 January 2024 , and are signed on behalf of the board by:
Mr P R Bristow
Director
Company registration number: 03673499
Nsure Limited
Notes to the financial statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7th Floor Corn Exchange, 55 Mark Lane, London, EC3R 7NE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 16 (2022: 16 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 July 2022 48,756 48,756
Additions 2,596 2,596
_______ _______
At 30 June 2023 51,352 51,352
_______ _______
Depreciation
At 1 July 2022 44,027 44,027
Charge for the year 1,589 1,589
_______ _______
At 30 June 2023 45,616 45,616
_______ _______
Carrying amount
At 30 June 2023 5,736 5,736
_______ _______
At 30 June 2022 4,729 4,729
_______ _______
6. Debtors
2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 179 -
Other debtors 700,862 574,282
_______ _______
701,041 574,282
_______ _______
Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 7,741 7,999
Corporation tax 29,361 16,119
Social security and other taxes 12,981 11,419
Other creditors 561,746 395,268
_______ _______
611,829 430,805
_______ _______
8. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 19,300 -
Later than 1 year and not later than 5 years 18,653 -
_______ _______
37,953 -
_______ _______
9. Controlling party
Nsure Limited 's immediate parent is Nsure Holdings Limited, a company registered in England and Wales. Its registered office is 7th Floor Corn Exchange, 55 Mark Lane, London EC3R 7NE. The entity's ultimate parent company is Holdco NHL Limited, a company registered in England and Wales. Its registered office is 7th Floor Corn Exchange, 55 Mark Lane, London EC3R 7NE.