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

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

Microensure Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Limes, Bayshill Road, Cheltenham, GL50 3AW.

The Company is a wholly owned subsidiary of STP Group Holdings LLC, a company incorporated in the United States of America.

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.

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.

The Company is a parent undertaking. The Company has not prepared consolidated financial statements for the year ended 31 December 2024 because the group qualifies as a small group under Section 399(2A) of the Companies Act 2006 and is therefore exempt from the requirement to prepare group accounts.

The Company has incurred losses during the year and at the balance sheet date, its current liabilities exceeded its current assets. The Company is reliant on the continued financial support of its parent company, STP Group Holdings LLC, to enable it to meet its liabilities as they fall due. true

The Directors have received written confirmation from STP Group Holdings LLC that it will continue to provide such financial support as is necessary to enable the Company to continue in operational existence for a period of at least 12 months from the date of approval of these financial statements.

Having considered the Company's forecast and cash flow projections, together with the availability of ongoing support from the ultimate parent company, the Directors are satisfied that the Company will have sufficient resources to continue in operation for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Investments in subsidiaries are stated at cost less any provisions for impairment. Investments are reviewed for impairment at each reporting date. Impairments are calculated such that the carrying value of the fixed asset investment is the low of its cost or recoverable amount. Recoverable amount is the higher of its fair value less cost of disposal and its value-in-use. Value-in-use is determined via a discounted cash flow model. The financial projects for 2023-2026 were used to derive the cash flow forecasts for the purpose of impairment testing. The company assumed growth rates of 40% for 2023, 15% each for the next 3 years along with perpetual growth rate of 2% and discount rate of 7.87% to derive cash flows. This amount has been adjusted for cash and other debt like items, including working capital and long-term intercompany balances.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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

Details of the company's subsidiaries at 31 December 2024 are as follows:

The subsidiaries are involved in policy and claims administration and other business process outsourcing and information technology services. Those that have an insurance broker's licence are involved in insurance brokering.

The company is included within a group VAT registration scheme, which incorporates certain group undertakings. As such the company is jointly and severally liable for the amounts owed by the other companies at the balance sheet date.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

The immediate and ultimate parent undertaking of the Company is STP Group Holdings LLC, a company incorporated in the United States of America.