Only Pets Cover Limited

	Registered number
	09971968

	Only Pets Cover Limited
	Unaudited Accounts
	for the year ended
	31 December 2025

Only Pets Cover Limited Balance Sheet as at 31 December 2025
	Notes		2025 £		2024 £
Fixed assets
Intangible assets	5		24,119		17,290
Tangible assets	6		7,770		24,281
			31,889		41,571

Current assets
Debtors	7	1,297,030		644,140
Cash at bank and in hand		471,502		354,361
		1,768,532		998,501

Prepayments and accrued income:		18,699		10,178

Creditors: amounts falling due within one year	8	(647,193)		(388,546)

Net current assets / (liabilities)			1,140,038		620,133

Total assets less current liabilities			1,171,927		661,704

Creditors: amounts falling due after more than one year	9		(300,000)		(306,667)

Provisions for liabilities			(0)		(0)

Total net assets (liabilities)			871,927		355,037

Capital and reserves
Called up share capital			663,199		663,199
Profit and loss account			208,728		(308,162)
Shareholders' funds			871,927		355,037

These accounts have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.

For the year ending 31 December 2025 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Signed on behalf of the board of directors

...............................

Mr L Nell

Director

Approved by the board on 22 September 2026

Company Number: 09971968 (a Private Company Limited by Shares registered in England and Wales)

Registered Office:

124 City Road
London
EC1V 2NX
England

1.	Accounting policies
	Basis of preparation of financial statements These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.
	Changes in accounting standards, policies and estimates The transition to a new accounting standard has resulted to some changes in the accounting policies. The nature of these changes, and any impact on the values displayed for the comparative period, are explained in the notes below where applicable.

	Going concern basis
	The financial statements have been prepared on a going concern basis. The directors have considered the company’s financial position, cash flow forecasts, and available resources, and have found no material uncertainties that would cast doubt on the company’s ability to continue as a going concern for the foreseeable future from the date of approval of these financial statements.

	Revenue recognition
	Commission income is recognised at the point of policy inception, being the date on which insurance cover commences and the company has satisfied its performance obligations. Amounts received prior to inception are deferred and recognised as revenue upon inception.

Tangible fixed assets depreciation policy

Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.

Computer equipment

20% Straight Line

	Intangible fixed assets
	Intangible fixed assets are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives, with a maximum of 5 years.

	Deferred taxation
	Taxation represents the sum of tax currently payable and deferred tax. Current tax is calculated using tax rates that have been enacted or substantially enacted at the end of the reporting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of part of the asset to be recovered.

Deferred taxation

Taxation represents the sum of tax currently payable and deferred tax. Current tax is calculated using tax rates that have been enacted or substantially enacted at the end of the reporting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts.

Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of part of the asset to be recovered.

	Pensions
	The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £18,669 (2024 - £14,338). Contributions totalling £4,355(2024 - £4,194) were payable to the fund at the balance sheet date and are included in creditors

Pensions

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £18,669 (2024 - £14,338). Contributions totalling £4,355(2024 - £4,194) were payable to the fund at the balance sheet date and are included in creditors

Profit or loss
Profit before tax is stated after charging the following:	2025	2024
	£	£
Amortisation of other intangible assets	5,875	2,610

Taxation
	2025	2024
	£	£
UK Corporation Tax	74,890	0
Tax on profit/(loss) on ordinary activities	74,890	0

Employees
	2025	2024
Average number of employees during the period	10	7

Intangible fixed assets
	Other	Total
Cost	£	£
At 1 January 2025	20,100	20,100
Additions	12,704	12,704
At 31 December 2025	32,804	32,804
Amortisation
At 1 January 2025	2,810	2,810
Provided during the period	5,875	5,875
At 31 December 2025	8,685	8,685
Net book value
At 31 December 2025	24,119	24,119
At 31 December 2024	17,290	17,290

Tangible fixed assets
	Computer equipment	Total
Cost or valuation	£	£
At 1 January 2025	224,885	224,885
Additions	2,698	2,698
At 31 December 2025	227,583	227,583
Depreciation
At 1 January 2025	200,604	200,604
Charge for the period	19,209	19,209
At 31 December 2025	219,813	219,813
Net book value
At 31 December 2025	7,770	7,770
At 31 December 2024	24,281	24,281

Debtors
	2025	2024
	£	£
Trade debtors	1,228,530	575,640
Other debtors	68,500	68,500
	1,297,030	644,140
Other debtors comprise bond deposits provided to price comparison websites as security for the distribution channel. The balances are contractually repayable and are expected to be recovered within 12 months of the reporting date.

Creditors: amounts falling due within one year
	2025	2024
	£	£
Bank Loans & Overdrafts	6,667	10,000
Trade creditors	455,175	299,031
Amounts due to group undertakings	30,081	31,279
Taxation & social security	150,915	44,042
Other creditors	4,355	4,194
	647,193	388,546
The bank loan of £6,667 (2024 - £10,000) included in creditors due within one year is a COVID Bounce Bank Loan, 100% guaranteed by the government.

Creditors: amounts falling due after one year
	2025	2024
	£	£
Bank Loans & overdrafts	0	6,667
Other	300,000	300,000
	300,000	306,667
The bank loan of £nil (2024 - £6,667) included in creditors due after one year is a COVID Bounce Bank Loan, 100% guaranteed by the government. The company has loan notes of £300,000 (2024: £300,000) due to shareholders. The loans are unsecured, interest free and repayable on demand.

10.	Related party disclosures
	During the period of accounts a transaction occurred between this company and a related party, Instech Ventures Limited, a company controlled by shareholders of Only Pets Cover Limited. The relationship between the parties is Instech Ventures Limited provided consultancy and management services to the company. Fees of £40,000 (2024: £40,000) were charged by Instech Ventures Limited during the year.
	Controlling party The company is holding loan funding of £300,000 (2024: £300,000) from its shareholders. The balance outstanding at the year end was £300,000. The loans are unsecured, interest free and repayable on demand.

11.	Transition to new accounting standard
	The transition from FRS 105 to FRS 102 has not resulted in any adjustments to the amounts previously reported for assets, liabilities or profit and loss.