Sat-Insure Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06004349

SAT-INSURE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

SAT-INSURE LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6	6,691	9,468
Investments	7	1	1
		-------	-------
		6,692	9,469

Current assets

Debtors	8	584,328	533,805
Cash at bank and in hand		83,059	73,157
		----------	----------
		667,387	606,962

Creditors: amounts falling due within one year	9	290,967		256,593
		----------		----------
Net current assets			376,420	350,369
			----------	----------
Total assets less current liabilities			383,112	359,838

Creditors: amounts falling due after more than one year	10	5,834	15,833
		----------	----------
Net assets		377,278	344,005
		----------	----------

SAT-INSURE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

	2024		2023
Note	£	£	£

Capital and reserves

Called up share capital	50,000	50,000
Profit and loss account	327,278	294,005
	----------	----------
Shareholders funds	377,278	344,005
	----------	----------

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.

For the year ending 31 December 2024 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 were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

Mr R J Underwood

Director

Company registration number: 06004349

SAT-INSURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ultralase House, The Avenue, Cliftonville, Northampton, NN1 5BT.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

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

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant & machinery	-	25% reducing balance
Fixtures, fittings & equipment	-	25% reducing balance
Motor vehicles	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2023: 6 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 January 2024 and 31 December 2024	233,227
	----------
Amortisation
At 1 January 2024 and 31 December 2024	233,227
	----------
Carrying amount
At 31 December 2024	–
	----------
At 31 December 2023	–
	----------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024 and 31 December 2024	322	118,296	55,930	174,548
	----	----------	---------	----------
Depreciation
At 1 January 2024	312	113,350	51,418	165,080
Charge for the year	2	1,649	1,126	2,777
	----	----------	---------	----------
At 31 December 2024	314	114,999	52,544	167,857
	----	----------	---------	----------
Carrying amount
At 31 December 2024	8	3,297	3,386	6,691
	----	----------	---------	----------
At 31 December 2023	10	4,946	4,512	9,468
	----	----------	---------	----------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	280,000
	----------
Impairment
At 1 January 2024 and 31 December 2024	279,999
	----------

Carrying amount
At 31 December 2024	1
	----------
At 31 December 2023	1
	----------

8. Debtors

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	579,287	526,191
Other debtors	5,041	7,614
	----------	----------
	584,328	533,805
	----------	----------

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	63,646	52,871
Trade creditors	32,071	14,774
Amounts owed to group undertakings and undertakings in which the company has a participating interest	107,163	108,483
Corporation tax	30,617	20,044
Social security and other taxes	2,506	5,083
Other creditors	54,964	55,338
	----------	----------
	290,967	256,593
	----------	----------

10. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	5,834	15,833
	-------	---------

11. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr R J Underwood	( 183)	183	–
	----	----	----

	2023
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr R J Underwood	( 31,718)	31,535	( 183)
	---------	---------	----

12. Related party transactions

The company was under the control of Mr R J Underwood throughout the current and previous year. Mr R J Underwood is the managing director and ultimate shareholder.

13. Controlling party

Sat-Insure Limited is a 100% wholly owned subsidiary of Insure IT Direct Holdings Limited. Mr R Underwood is the controlling party of Insure IT Direct Holdings Limited.