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REGISTERED NUMBER: 06358114 (England and Wales)















ORACLE UNDERWRITING LIMITED

Unaudited Financial Statements for the Year Ended 31 August 2024






ORACLE UNDERWRITING LIMITED (REGISTERED NUMBER: 06358114)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


ORACLE UNDERWRITING LIMITED

Company Information
for the year ended 31 August 2024







Director: A Adler



Registered office: Prudent House
50 Yardley Road
Acocks Green
Birmingham
West Midlands
B27 6LG



Registered number: 06358114 (England and Wales)



Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
4th Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX



Bankers: HSBC Bank Plc
34 Poplar Road
Solihull
West Midlands
B91 3AF

ORACLE UNDERWRITING LIMITED (REGISTERED NUMBER: 06358114)

Statement of Financial Position
31 August 2024

2024 2023
Notes £ £
Current assets
Debtors 5 5,368 4,782
Cash at bank 32,590 35,400
37,958 40,182
Creditors
Amounts falling due within one year 6 50,734 15,987
Net current (liabilities)/assets (12,776 ) 24,195
Total assets less current liabilities (12,776 ) 24,195

Capital and reserves
Called up share capital 7 20,000 20,000
Retained earnings (32,776 ) 4,195
Shareholders' funds (12,776 ) 24,195

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

ORACLE UNDERWRITING LIMITED (REGISTERED NUMBER: 06358114)

Statement of Financial Position - continued
31 August 2024


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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2025 and were signed by:





A Adler - Director


ORACLE UNDERWRITING LIMITED (REGISTERED NUMBER: 06358114)

Notes to the Financial Statements
for the year ended 31 August 2024

1. Statutory information

Oracle Underwriting Limited 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
The turnover shown in the profit and loss account represents commission earned on insurance policies underwritten during the period.

Fixed assets
All fixed assets are initially recorded at cost.

Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Equipment33.3% straight line basis

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 statement of financial position date.


ORACLE UNDERWRITING LIMITED (REGISTERED NUMBER: 06358114)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. Employees and directors

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

4. Tangible fixed assets
Computer
equipment
£
Cost
At 1 September 2023
and 31 August 2024 925
Depreciation
At 1 September 2023
and 31 August 2024 925
Net book value
At 31 August 2024 -
At 31 August 2023 -

ORACLE UNDERWRITING LIMITED (REGISTERED NUMBER: 06358114)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 2,066 1,757
Prepayments 3,302 3,025
5,368 4,782

6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 7,999 5,427
Directors' loan accounts 40,000 8,000
Accruals and deferred income 2,735 2,560
50,734 15,987

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
20,000 Ordinary £1 20,000 20,000

8. Related party disclosures

The company provides underwriting services to Adler Fairways Insurance Brokers Limited, a company in which Anthony J Adler is a director. The company earns commission income on business introduced to it by Adler Fairways Insurance Brokers Limited and in turn passes a proportion of this commission back to Adler Fairways Insurance Brokers Limited. It is not possible to accurately identify the amount of commission income retained. All transactions with Adler Fairways Insurance Brokers Limited are made at arm's length.

At the 31 August 2024 an amount of £3,069 (2023: £3,402) was outstanding from Adler Fairways Insurance Brokers Limited on the sales ledger.

Included in other creditors are the following loans to the company from related parties:

Mr Anthony J Adler (director and shareholder) £40,000 (2023: £8,000).