InetAssure (Underwriting) Limited

Notes to the Financial Statements
for the Year Ended 28 February 2025

1	General information

InetAssure (Underwriting) Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2	Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Judgements and key sources of estimation uncertainties

In the opinion of the directors there are no judgements or key sources of estimation uncertainty which could materially affect the financial statements.

Revenue recognition

Turnover comprises the fair value of commissions and fees received in the ordinary course of the Company’s activities net of rebates and discounts. Commissions and fees are recognised on the date of inception of a policy or its date of renewal.

Taxation

The corporation tax expense for the period comprises current tax. Corporation tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

InetAssure (Underwriting) Limited

Notes to the Financial Statements
for the Year Ended 28 February 2025 (continued)

2	Accounting policies (continued)

Tangible fixed assets

Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Equipment, fixture and fittings	25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and held at bank.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Taxation

Tax charged/(credited) in the income statement

	2025 £	2024 £
Current taxation
UK corporation tax	-	689

InetAssure (Underwriting) Limited

Notes to the Financial Statements
for the Year Ended 28 February 2025 (continued)

4	Tangible fixed assets

	Furniture, fittings and equipment  £
Cost
At 1 March 2024	1,819
At 28 February 2025	1,819
Depreciation
At 1 March 2024	1,819
At 28 February 2025	1,819
Carrying amount
At 28 February 2025	-

5

Debtors

	2025 £	2024 £
Trade receivables	4,298	4,891
Other debtors	-	332
Prepayments	3,537	3,754
	7,835	8,977

6

Creditors

	Note	2025 £	2024 £
Due within one year
Outstanding defined contribution pension costs		-	350
Other payables		15,146	17,310
Accruals		1,620	1,470
Corporation tax		-	689
		16,766	19,819

InetAssure (Underwriting) Limited

Notes to the Financial Statements
for the Year Ended 28 February 2025 (continued)

7	Share capital and reserves

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

Reserves

The company has one class of share capital which carries no right to fixed income.

Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

8	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
InetAssure (Underwriting) Limited
for the Year Ended 28 February 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of InetAssure (Underwriting) Limited for the year ended 28 February 2025 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising firm of accountants, we are subject to ethical and other professional requirements.

This report is made solely to the Board of Directors of InetAssure (Underwriting) Limited , as a body, in accordance with the terms of our engagement letter dated 23 June 2016. Our work has been undertaken solely to prepare for your approval the accounts of InetAssure (Underwriting) Limited and state those matters that we have agreed to state to the Board of Directors of InetAssure (Underwriting) Limited , as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than InetAssure (Underwriting) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that InetAssure (Underwriting) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of InetAssure (Underwriting) Limited . You consider that InetAssure (Underwriting) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of InetAssure (Underwriting) Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
For and on behalf of
Shaw Gibbs Limited
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

20 November 2025