ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

2 INSURE HOLDINGS LIMITED - Company Information

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Caseware UK (AP4) 2020.0.247 2020.0.247 2020-09-30No description of principal activitytruetrue2019-04-01falsetrue 5525424 2019-04-01 2020-09-30 5525424 2018-04-01 2019-03-31 5525424 2020-09-30 5525424 2019-03-31 5525424 c:Director1 2019-04-01 2020-09-30 5525424 d:CurrentFinancialInstruments d:WithinOneYear 2020-09-30 5525424 d:CurrentFinancialInstruments d:WithinOneYear 2019-03-31 5525424 d:ShareCapital 2020-09-30 5525424 d:ShareCapital 2019-03-31 5525424 d:SharePremium 2020-09-30 5525424 d:SharePremium 2019-03-31 5525424 d:RetainedEarningsAccumulatedLosses 2019-04-01 2020-09-30 5525424 d:RetainedEarningsAccumulatedLosses 2020-09-30 5525424 d:RetainedEarningsAccumulatedLosses 2019-03-31 5525424 c:OrdinaryShareClass1 2019-04-01 2020-09-30 5525424 c:OrdinaryShareClass1 2020-09-30 5525424 c:OrdinaryShareClass1 2019-03-31 5525424 c:EntityHasNeverTraded 2019-04-01 2020-09-30 5525424 c:FRS102 2019-04-01 2020-09-30 5525424 c:AuditExempt-NoAccountantsReport 2019-04-01 2020-09-30 5525424 c:FullAccounts 2019-04-01 2020-09-30 5525424 c:PrivateLimitedCompanyLtd 2019-04-01 2020-09-30 5525424 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2019-04-01 2020-09-30 5525424 6 2019-04-01 2020-09-30 xbrli:shares iso4217:GBP xbrli:pure





5525424
30/09/2020














2 Insure Holdings Limited
Registered number: 5525424
Director's report and unaudited financial statements

For the period ended 30 September 2020
 
 5525424
30 September 2020
2 INSURE HOLDINGS LIMITED
Registered number: 5525424

BALANCE SHEET
AS AT 30 SEPTEMBER 2020

30 September
31 March
2020
2019
Note
£
£

Fixed assets
  

Investments
 4 
233,000
233,000

  
233,000
233,000

Current assets
  

Cash at bank and in hand
  
25
29

  
25
29

Creditors: amounts falling due within one year
  
(111,965)
(111,909)

Net current liabilities
  
 
 
(111,940)
 
 
(111,880)

Total assets less current liabilities
  
121,060
121,120

  

Net assets
  
121,060
121,120


Capital and reserves
  

Called up share capital 
  
1,001
1,001

Share premium account
  
115,500
115,500

Profit and loss account
  
4,559
4,619

  
121,060
121,120


- 1 -
 
 5525424
30 September 2020
2 INSURE HOLDINGS LIMITED
Registered number: 5525424
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2020

For the period ended 30 September 2020 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 June 2021.


................................................
D M Conway
Director

The notes on pages 3 to 5 form part of these financial statements.

- 2 -
 
 5525424
30 September 2020
2 INSURE HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2020

1.


General information

2 Insure Holdings Limited is a company limited by shares, incorporated in England and Wales. Its registered office is 32 Station Road, Acocks Green, Birmingham, West Midlands, B27 6DN.
The principal activity of the company was that of a holding company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in Sterling, which is considered to be the functional currency of the company, and are rounded to the nearest £1.

 
2.2

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.


 
2.3

Going concern

These financial statements have been prepared on a going concern basis as the Director has not identified any material uncertainties or events that may cast doubt about the ability of the Company to continue as a going concern.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

- 3 -
 
 5525424
30 September 2020
2 INSURE HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2020

2.Accounting policies (continued)


2.7
Financial instruments (continued)

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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 simultaneously.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2019 - £NIL).

The average monthly number of employees, including directors, during the period was 0 (2019 - 0).


4.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 April 2019
233,000



At 30 September 2020
233,000





5.


Share capital

30 September
31 March
2020
2019
£
£
Allotted, called up and fully paid



1,001 (2019 - 1,001) Ordinary shares shares of £1.00 each
1,001
1,001

- 4 -
 
 5525424
30 September 2020
2 INSURE HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2020

6.


Reserves

Profit & loss account

This reserve represents cumulative profits and losses.


7.


Controlling party

Control of the company is exercised by Mr D Conway by virtue of his 100% shareholding.

 
- 5 -