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REGISTERED NUMBER: 11727961 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Next Generation Ins Group Ltd

Next Generation Ins Group Ltd (Registered number: 11727961)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Next Generation Ins Group Ltd

Company Information
for the Year Ended 31st March 2024







DIRECTOR: A J Hickman





REGISTERED OFFICE: 1579 London Road
Leigh on Sea
Essex
SS9 2SG





BUSINESS ADDRESS: The Ramsey at The Nexus
Old Ipswich Road
Ardleigh
Essex
CO7 7QL





REGISTERED NUMBER: 11727961 (England and Wales)





ACCOUNTANTS: Beam & Co Accountancy Limited
1579 London Road
Leigh on Sea
Essex
SS9 2SG

Next Generation Ins Group Ltd (Registered number: 11727961)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 19,757 5,728
Tangible assets 5 1,479 1,140
21,236 6,868

CURRENT ASSETS
Debtors 6 16,991 12,580
Cash at bank 2,210 1,138
19,201 13,718
CREDITORS
Amounts falling due within one year 7 12,555 29,565
NET CURRENT ASSETS/(LIABILITIES) 6,646 (15,847 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,882

(8,979

)

CREDITORS
Amounts falling due after more than one
year

8

-

26,745
NET ASSETS/(LIABILITIES) 27,882 (35,724 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 27,782 (35,824 )
27,882 (35,724 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25th November 2024 and were signed by:





A J Hickman - Director


Next Generation Ins Group Ltd (Registered number: 11727961)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Next Generation Ins Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Website development costs
It is the company's policy to capitalise website development costs where they meet the conditions and definitions of intangible assets as defined in FRS 102.

Website development costs are amortised over their estimated useful economic life of 3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Next Generation Ins Group Ltd (Registered number: 11727961)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st April 2023 39,282
Additions 25,538
At 31st March 2024 64,820
AMORTISATION
At 1st April 2023 33,554
Charge for year 11,509
At 31st March 2024 45,063
NET BOOK VALUE
At 31st March 2024 19,757
At 31st March 2023 5,728

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 3,045
Additions 1,968
Disposals (1,168 )
At 31st March 2024 3,845
DEPRECIATION
At 1st April 2023 1,905
Charge for year 1,232
Eliminated on disposal (771 )
At 31st March 2024 2,366
NET BOOK VALUE
At 31st March 2024 1,479
At 31st March 2023 1,140

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 13,422 9,112
Other debtors 3,569 3,468
16,991 12,580

Next Generation Ins Group Ltd (Registered number: 11727961)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 10,398
Taxation and social security 4,262 717
Other creditors 8,293 18,450
12,555 29,565

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 26,745