REGISTERED NUMBER: 04013173 (England and Wales)

UNDERWRITING & GENERAL INSURANCE

SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P Adamou BSc, MCMI, FPC

Mr P Georgiou FPC

SECRETARY:

Mr P Adamou BSc, MCMI, FPC

REGISTERED OFFICE:

South Point House

321 Chase Road

Southgate

London

N14 6JT

REGISTERED NUMBER:

04013173 (England and Wales)

ACCOUNTANTS:

Christiansons Ltd

Chartered Certified Accountants

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

FIXED ASSETS

Tangible assets

4

19,028

21,353

CURRENT ASSETS

Debtors

5

458,072

466,341

Cash at bank and in hand

271,609

139,720

729,681

606,061

CREDITORS

Amounts falling due within one year

6

522,331

398,394

NET CURRENT ASSETS

207,350

207,667

TOTAL ASSETS LESS CURRENT LIABILITIES

226,378

229,020

PROVISIONS FOR LIABILITIES

7

3,562

3,992

NET ASSETS

222,816

225,028

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

222,716

224,928

SHAREHOLDERS' FUNDS

222,816

225,028

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 June 2026 and were signed on its behalf by:

Mr P Adamou BSc, MCMI, FPC - Director

1.	STATUTORY INFORMATION

Underwriting & General Insurance Services 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.

Turnover

Turnover represents gross commission and service charges receivable, which is recognised as income once the policy is issued.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on cost

Computer equipment

-

20% on cost

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2025

40,720

54,370

95,090

Additions

-

2,138

2,138

At 31 December 2025

40,720

56,508

97,228

DEPRECIATION

At 1 January 2025

22,989

50,748

73,737

Charge for year

3,129

1,334

4,463

At 31 December 2025

26,118

52,082

78,200

NET BOOK VALUE

At 31 December 2025

14,602

4,426

19,028

At 31 December 2024

17,731

3,622

21,353

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

374,933

463,407

Other debtors

80,000

-

Prepayments and accrued income

3,139

2,934

458,072

466,341

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

378,003

281,966

Amounts owed to group undertakings

67,044

44,054

Corporation tax

9,245

9,609

Social security and other taxes

1,429

3,691

Other creditors

4,967

5,089

Amounts owed to related company

16,168

16,168

Directors' loan accounts

3,076

3,063

Accruals and deferred income

42,399

34,754

522,331

398,394

7.	PROVISIONS FOR LIABILITIES

31.12.25

31.12.24

£

£

Deferred tax

3,562

3,992

Deferred

tax

£

Balance at 1 January 2025

3,992

Accelerated capital allowances

(430

)

Balance at 31 December 2025

3,562

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 January 2025

224,928

Deficit for the year

(2,212

)

At 31 December 2025

222,716

10.	TRANSACTIONS WITH DIRECTORS

During the year, the company has paid commissions to Mr P Georgiou a director and a shareholder of the company in the sum of £27,750 (2024 : £5,000).

11.	RELATED PARTY DISCLOSURES

The bank overdraft is secured by personal guarantees given by the directors for £10,000.

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by IPS Terroni Insurance Services Limited, by virtue of holding the entire ordinary share capital of the company. There is no overall control of IPS Terroni Insurance Services Limited by any one person.