Company registration number 08860437 (England and Wales)
ISSURED LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
ISSURED LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ISSURED LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
321,615
18,291
Investments
4
57,975
52,500
379,590
70,791
Current assets
Debtors
5
1,665,224
1,738,042
Cash at bank and in hand
3,990,734
4,177,195
5,655,958
5,915,237
Creditors: amounts falling due within one year
6
(488,094)
(468,668)
Net current assets
5,167,864
5,446,569
Total assets less current liabilities
5,547,454
5,517,360
Creditors: amounts falling due after more than one year
7
(284,856)
(479,626)
Net assets
5,262,598
5,037,734
Capital and reserves
Called up share capital
365
365
Profit and loss reserves
5,262,233
5,037,369
Total equity
5,262,598
5,037,734

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

ISSURED LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 October 2024 and are signed on its behalf by:
J Empson
Director
Company registration number 08860437 (England and Wales)
ISSURED LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Issured Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, Unit 18, Bradboune Drive, Milton Keynes, MK7 8BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
10% straight line
Fixtures and fittings
25% straight line
Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

ISSURED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
40
31
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2023
-
0
149,110
149,110
Additions
293,986
69,263
363,249
At 31 January 2024
293,986
218,373
512,359
Depreciation and impairment
At 1 February 2023
-
0
130,819
130,819
Depreciation charged in the year
29,399
30,526
59,925
At 31 January 2024
29,399
161,345
190,744
Carrying amount
At 31 January 2024
264,587
57,028
321,615
At 31 January 2023
-
0
18,291
18,291
ISSURED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
57,975
52,500
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 February 2023
52,500
Additions
5,475
At 31 January 2024
57,975
Carrying amount
At 31 January 2024
57,975
At 31 January 2023
52,500
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,396,061
1,263,762
Other debtors
269,163
474,280
1,665,224
1,738,042
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
47,561
100,433
Taxation and social security
418,356
304,839
Other creditors
22,177
63,396
488,094
468,668
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
112,500
150,000
Other creditors
172,356
329,626
284,856
479,626
ISSURED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
8
Deferred Tax Asset

At the balance sheet date the company had tax losses carried forward resulting in a potential deferred tax asset of £227,601. Provision has not been made for this in the financial statements due to the uncertainty of timing of future taxable profits.

 

 

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