REGISTERED NUMBER: 12955173 (England and Wales)

Attis Insurance Brokers Limited

Report of the Directors and

Financial Statements for the Year Ended 31st December 2025

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

3

Income Statement

6

Other Comprehensive Income

7

Balance Sheet

8

Statement of Changes in Equity

9

Cash Flow Statement

10

Notes to the Cash Flow Statement

11

Notes to the Financial Statements

12

DIRECTORS:

J E Henderson

S Farrow

E Simkins

N Beck

M Picken

D T Bowers

REGISTERED OFFICE:

Abc Building White Rose Park

Millshaw Park Way

Leeds

West Yorkshire

LS11 0PA

REGISTERED NUMBER:

12955173 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

The directors present their report with the financial statements of the company for the year ended 31st December 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31st December 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2025 to the date of this report.

J E Henderson

S Farrow

E Simkins

N Beck

M Picken

D T Bowers

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Smailes Goldie, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J E Henderson - Director

24th September 2026

Opinion

We have audited the financial statements of Attis Insurance Brokers Limited (the 'company') for the year ended 31st December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31st December 2025 and of its profit 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Nicola Shipley FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

24th September 2026

TURNOVER

10,168,466

8,199,907

Administrative expenses

9,303,688

7,768,549

864,778

431,358

Other operating income

86,911

78,899

OPERATING PROFIT

4

951,689

510,257

Interest receivable and similar income

122,173

121,166

1,073,862

631,423

Interest payable and similar expenses

5

11,735

110,012

PROFIT BEFORE TAXATION

1,062,127

521,411

Tax on profit

6

251,704

152,061

PROFIT FOR THE FINANCIAL YEAR

810,423

369,350

PROFIT FOR THE YEAR

810,423

369,350

OTHER COMPREHENSIVE INCOME

Bonus Share Issue

(1,156

)

-

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(1,156

)

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

809,267

369,350

FIXED ASSETS

Tangible assets

7

237,627

208,487

CURRENT ASSETS

Debtors

8

5,229,704

4,183,082

Cash at bank and in hand

3,089,739

3,162,902

8,319,443

7,345,984

CREDITORS

Amounts falling due within one year

9

6,787,197

6,595,021

NET CURRENT ASSETS

1,532,246

750,963

TOTAL ASSETS LESS CURRENT LIABILITIES

1,769,873

959,450

CREDITORS

Amounts falling due after more than one year

10

2,500,000

2,500,000

NET LIABILITIES

(730,127

)

(1,540,550

)

CAPITAL AND RESERVES

Called up share capital

13

5,256

4,100

Retained earnings

14

(735,383

)

(1,544,650

)

SHAREHOLDERS' FUNDS

(730,127

)

(1,540,550

)

The financial statements were approved by the Board of Directors and authorised for issue on 24th September 2026 and were signed on its behalf by:

J E Henderson - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st January 2024

1,093

(1,914,000

)

(1,912,907

)

Changes in equity

Total comprehensive income

-

369,350

369,350

Issue of share capital

3,007

-

3,007

Balance at 31st December 2024

4,100

(1,544,650

)

(1,540,550

)

Changes in equity

Total comprehensive income

-

809,267

809,267

Issue of share capital

1,156

-

1,156

Balance at 31st December 2025

5,256

(735,383

)

(730,127

)

Cash flows from operating activities

Cash generated from operations

1

32,270

1,481,198

Interest paid

(11,735

)

(109,786

)

Interest element of hire purchase or finance lease rental payments paid

-

(226

)

Net cash from operating activities

20,535

1,371,186

Cash flows from investing activities

Purchase of tangible fixed assets

(137,584

)

(95,823

)

Sale of tangible fixed assets

31,375

-

Interest received

122,173

121,166

Net cash from investing activities

15,964

25,343

Cash flows from financing activities

Capital repayments in year

-

(1,667

)

Amount introduced by directors

139,000

223,635

Amount withdrawn by directors

(248,662

)

-

Share issue

-

3,007

Net cash from financing activities

(109,662

)

224,975

(Decrease)/increase in cash and cash equivalents

(73,163

)

1,621,504

Cash and cash equivalents at beginning of year

2

3,162,902

1,541,398

Cash and cash equivalents at end of year

2

3,089,739

3,162,902

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

1,062,127

521,411

Depreciation charges

88,037

87,554

Profit on disposal of fixed assets

(10,968

)

-

Finance costs

11,735

110,012

Finance income

(122,173

)

(121,166

)

1,028,758

597,811

Increase in trade and other debtors

(1,298,326

)

(120,723

)

Increase in trade and other creditors

301,838

1,004,110

Cash generated from operations

32,270

1,481,198

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

3,089,739

3,162,902

Year ended 31st December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

3,162,902

1,541,398

3.	ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

3,162,902

(73,163

)

3,089,739

3,162,902

(73,163

)

3,089,739

Debt

Debts falling due after 1 year

(2,500,000

)

-

(2,500,000

)

(2,500,000

)

-

(2,500,000

)

Total

662,902

(73,163

)

589,739

1.	STATUTORY INFORMATION

Attis Insurance Brokers 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Insurance Broking

Commissions, including fees and related charges, are recognised when the outcome of a transaction can be estimated reliably and by reference to when policy cover commences.

In the case of credit insurance, commission including fees and related charges, are recognised when entitlement to such income occurs.

Tangible fixed assets

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

Leasehold Property Developments - 20% on cost

Plant and machinery - 20% on cost

Motor Vehicles - 25% 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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.

Insurance broking assets and liabilities

The company acts as agent in broking the insurable risks for their clients and, generally, are not liable as a principal for premiums due to underwriters or for claims payable to clients. Notwithstanding the company's legal relationship with clients and underwriters and since in practice premium and claim monies are usually accounted for by insurance intermediaries, generally accepted accounting practice has been followed by showing cash, debtors and creditors relating to insurance business as assets and liabilities of the company itself.

Financial instruments

The company mainly enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans from related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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 on a net basis.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

6,168,530

5,187,310

Other pension costs

809,765

530,157

6,978,295

5,717,467

The average number of employees during the year was as follows:

2025

2024

Management and administration

110

88

2025

2024

£

£

Directors' remuneration

584,708

424,671

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

139,725

111,247

4.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Hire of plant and machinery

41,936

40,044

Other operating leases

253,987

223,954

Depreciation - owned assets

88,037

87,554

Profit on disposal of fixed assets

(10,968

)

-

Auditors' remuneration

14,700

13,325

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

11,735

9,786

Other Interest

-

100,000

Hire purchase

-

226

11,735

110,012

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Deferred tax

251,704

152,061

Tax on profit

251,704

152,061

Tax effects relating to effects of other comprehensive income

2025

Gross

Tax

Net

£

£

£

Bonus Share Issue

(1,156

)

-

(1,156

)

7.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st January 2025

62,462

25,696

84,609

296,323

469,090

Additions

9,485

23,599

-

104,500

137,584

Disposals

-

(2,196

)

(84,609

)

(84,649

)

(171,454

)

At 31st December 2025

71,947

47,099

-

316,174

435,220

DEPRECIATION

At 1st January 2025

30,690

4,620

71,225

154,068

260,603

Charge for year

13,358

5,987

1,115

67,577

88,037

Eliminated on disposal

-

(245

)

(72,340

)

(78,462

)

(151,047

)

At 31st December 2025

44,048

10,362

-

143,183

197,593

NET BOOK VALUE

At 31st December 2025

27,899

36,737

-

172,991

237,627

At 31st December 2024

31,772

21,076

13,384

142,255

208,487

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

3,914,910

2,982,889

Other debtors

11,054

29,134

Deferred tax asset

85,578

337,282

Prepayments and accrued income

1,218,162

833,777

5,229,704

4,183,082

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

5,338,714

5,011,749

Social security and other taxes

264,682

190,064

Other creditors

12,844

87,369

Directors' current accounts

838,699

948,361

Accruals and deferred income

332,258

357,478

6,787,197

6,595,021

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Preference shares (see note 11)

2,500,000

2,500,000

Other creditors above is represented by the company's cumulative redeemable preference share capital £2,500,000.

At the date of signing these accounts, the rights attached to the preference shares are as follows:

Dividend

The holders of the preference shares are entitled to a cumulative dividend equal to 3% per share per annum from the first anniversary of the date of issue in priority to any dividend paid in respect of the ordinary shares.

Voting Rights

The preference share holders have the right to receive notice of all general meetings but shall not have the right to vote at any meeting of the company.

Redemption

The preference shares or any of them shall be redeemed in full (subject to the relevant preference shareholder having given 15 day' prior written notice to the company) at any time but only to the extent that the company meets the FCA solvency requirements after such redemption or on an exit, whichever occurs first.

Winding Up

On a winding up, the assets of the company, after paying of all creditors, shall be applied first in paying the holders of the preference shares £1 per preference share together with arrears, deficiency or accruals of dividend which remains unpaid in priority to the ordinary shareholders.

At 31st December 2025 there were accrued preference share dividends of £100,000 (2024:£100,000).

The period to which the arrears relate is 4th January 2023 to 31st December 2025.

11.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due between two and five years:

Preference shares

2,500,000

2,500,000

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2,500,000

Cumulative Redeemable

Preference

1

2,500,000

2,500,000