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REGISTERED NUMBER: 04259052 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024

FOR

COVERSURE INSURANCE SERVICES
(LEYTON) LTD

COVERSURE INSURANCE SERVICES
(LEYTON) LTD (REGISTERED NUMBER: 04259052)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COVERSURE INSURANCE SERVICES
(LEYTON) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTOR: Mr A Mimoglu





REGISTERED OFFICE: 177 Lea Bridge Road
Leyton
London
E10 7PN





REGISTERED NUMBER: 04259052 (England and Wales)





ACCOUNTANTS: Bayar Hughes & Co Ltd
Chartered Certified Accountants
4 Green Lane Business Park
238 Green Lane
New Eltham
London
SE9 3TL

COVERSURE INSURANCE SERVICES
(LEYTON) LTD (REGISTERED NUMBER: 04259052)

BALANCE SHEET
28 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 344,073 432,085
Tangible assets 5 28,319 36,531
372,392 468,616

CURRENT ASSETS
Debtors 6 1,179,076 1,152,633
Cash at bank 137,487 132,162
1,316,563 1,284,795
CREDITORS
Amounts falling due within one year 7 299,257 188,510
NET CURRENT ASSETS 1,017,306 1,096,285
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,389,698

1,564,901

CREDITORS
Amounts falling due after more than one year 8 - (26,626 )

PROVISIONS FOR LIABILITIES (4,597 ) (6,087 )
NET ASSETS 1,385,101 1,532,188

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,385,001 1,532,088
SHAREHOLDERS' FUNDS 1,385,101 1,532,188

COVERSURE INSURANCE SERVICES
(LEYTON) LTD (REGISTERED NUMBER: 04259052)

BALANCE SHEET - continued
28 FEBRUARY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 November 2024 and were signed by:





Mr A Mimoglu - Director


COVERSURE INSURANCE SERVICES
(LEYTON) LTD (REGISTERED NUMBER: 04259052)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

1. STATUTORY INFORMATION

Coversure Insurance Services (Leyton) 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 33 (2023 - 33 ) .

COVERSURE INSURANCE SERVICES
(LEYTON) LTD (REGISTERED NUMBER: 04259052)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 28 February 2024 889,524
AMORTISATION
At 1 March 2023 457,439
Charge for year 88,012
At 28 February 2024 545,451
NET BOOK VALUE
At 28 February 2024 344,073
At 28 February 2023 432,085

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 23,168 181,089 204,257
Additions - 549 549
At 28 February 2024 23,168 181,638 204,806
DEPRECIATION
At 1 March 2023 12,765 154,961 167,726
Charge for year 2,081 6,680 8,761
At 28 February 2024 14,846 161,641 176,487
NET BOOK VALUE
At 28 February 2024 8,322 19,997 28,319
At 28 February 2023 10,403 26,128 36,531

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Amounts owed by associates 100,320 100,320
Other debtors 36,533 84,090
136,853 184,410

Amounts falling due after more than one year:
Amounts owed by associates 1,042,223 968,223

Aggregate amounts 1,179,076 1,152,633

COVERSURE INSURANCE SERVICES
(LEYTON) LTD (REGISTERED NUMBER: 04259052)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,034 10,648
Trade creditors - 16,415
Taxation and social security 131,111 93,626
Other creditors 158,112 67,821
299,257 188,510

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 26,626