CUBIT INSURANCE LIMITED


Director	MEHR, Khabbab Qayyum


Registered Address	Simplex House
	Freshwater Road
	Dagenham
	RM8 1RX


Registered Number	06831694 (England and Wales)

Balance Sheet as at
28 February 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		5,077		2,588
Investments	5		250,000		250,000
			255,077		252,588
Current assets
Debtors	6	281,333		-
Cash at bank and on hand		59,254		-
		340,587		-
Creditors amounts falling due within one year	7	(156,846)		(99,817)
Net current assets (liabilities)			183,741		(99,817)
Total assets less current liabilities			438,818		152,771
Creditors amounts falling due after one year	8		(31,742)		-
Net assets			407,076		152,771
Capital and reserves
Called up share capital			17,282		17,282
Profit and loss account			389,794		135,489
Shareholders' funds			407,076		152,771

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 27 December 2025, and are signed on its behalf by:

MEHR, Khabbab Qayyum
Director
Registered Company No. 06831694

CUBIT INSURANCE LIMITED

Notes to the Financial Statements
for the year ended 28 February 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Land and buildings	15
	Fixtures and fittings	20
	Office Equipment	20

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	4		0

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
Additions	48,750	48,750
At 28 February 25	48,750	48,750
Amortisation and impairment
Other movements	48,750	48,750
At 28 February 25	48,750	48,750
Net book value
At 28 February 25	-	-
At 29 February 24	-	-

4.	Tangible fixed assets

	Land & buildings	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 March 24	1,871	3,475	458	5,804
Additions	11,474	13,427	18,849	43,750
At 28 February 25	13,345	16,902	19,307	49,554
Depreciation and impairment
At 01 March 24	894	2,052	270	3,216
Charge for year	236	596	340	1,172
Other adjustments	10,877	11,871	17,341	40,089
At 28 February 25	12,007	14,519	17,951	44,477
Net book value
At 28 February 25	1,338	2,383	1,356	5,077
At 29 February 24	977	1,423	188	2,588

5.	Fixed asset investments

	Other investments¹	Total
	£	£
Cost or valuation
At 01 March 24	250,000	250,000
At 28 February 25	250,000	250,000
Net book value
At 28 February 25	250,000	250,000
At 29 February 24	250,000	250,000

	Notes
	¹Other investments other than loans

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	69,753	-
Other debtors	211,580	-
Total	281,333	-

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	40,808	-
Bank borrowings and overdrafts	6,618	-
Taxation and social security	2,192	-
Other creditors	102,524	99,817
Accrued liabilities and deferred income	4,704	-
Total	156,846	99,817

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	26,742	-
Other creditors	5,000	-
Total	31,742	-

9.	Related party transactions
	Director's current account balance of £14,138 (2024: £6,658) relates to the director; K Q Mehr. Other Debtors include balance of £180,000 (2024: £Nil) relating to Simple East (Holdings) Limited, a company under common control of the director K Q Mehr. Other Creditors include balance of £10,000 (2024: £Nil) relating to Simple Claims Limited and £14,578 (2024: £40,262) relating to Simple Self Drive Limited, both companies are subsidiaries of Simple Accident Holdings Limited, a company under common control of the director K Q Mehr. Other Creditors also include £32,635 (2024: £52,897) relating to Cubit North Limited, a company under common control of the director K Q Mehr.

Related party transactions

Director's current account balance of £14,138 (2024: £6,658) relates to the director; K Q Mehr.

Other Debtors include balance of £180,000 (2024: £Nil) relating to Simple East (Holdings) Limited, a company under common control of the director K Q Mehr.

Other Creditors include balance of £10,000 (2024: £Nil) relating to Simple Claims Limited and £14,578 (2024: £40,262) relating to Simple Self Drive Limited, both companies are subsidiaries of Simple Accident Holdings Limited, a company under common control of the director K Q Mehr.

Other Creditors also include £32,635 (2024: £52,897) relating to Cubit North Limited, a company under common control of the director K Q Mehr.

10.	Controlling party
	The ultimate controlling parties are Mr K Q Mehr and City Group Inter-Rent Limited.