Contents of the Financial Statements

for the Period Ended 31 December 2021

Directors' report period ended 31 December 2021

The directors present their report with the financial statements of the company for the period ended 31 December 2021

Directors

The director shown below has held office during the whole of the period from
1 January 2021 to 31 December 2021

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
29 June 2022

And signed on behalf of the board by:
Name: R M JONES
Status: Director

Profit And Loss Account

for the Period Ended 31 December 2021

Balance sheet

As at 31 December 2021

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 2021 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.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2021

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

  Other accounting policies

  1. Accounting policies(a) General information and basis of preparationPrincipality Mortgage and Insurance Services Limited is a company incorporated in the United Kingdom under theCompanies Act. The company is a private company limited by shares and is registered in England and Wales. Theaddress of the company’s registered office is shown on page 3. The principal activities of the company are set out inthe Directors Report on page 4. These financial statements are presented in Pounds Sterling because that is thecurrency of the primary economic environment in which the company operates.The financial statements of Principality Mortgage and Insurance Services Limited have been prepared in accordancewith International Financial Reporting Standards (IFRS) and interpretations issued by the IFRS InterpretationsCommittee (IFRIC) as adopted for use within the UK.The principal accounting policies applied in the preparation of the financial statements are set out below and havebeen applied consistently in these financial statements.The company had ceased trading at the balance sheet date. As required by IAS 1, Presentation of FinancialStatements, the Directors have prepared the financial statements on a basis other than going concern. No materialadjustments arose as a result of ceasing to apply the going concern basis. The financial statements do not includeany provision for the future costs of terminating the business of the company except to the extent that such costswere committed at the Statement of Financial Position date.(b) Accounting conventionThe preparation of financial statements in conformity with IFRS requires the use of certain critical accountingestimates. It also requires management to exercise its judgement in the process of applying the company’saccounting policies. The accounts are prepared under the historical cost convention.The Director considers that there are no critical accounting judgements or estimates.(c) Fee and commission incomeFee and commission income is recognised on an accruals basis when the service has been provided and is offsetagainst clawback claims from the cancellation of insurance policies where commission had previously beenreceived.(d) TaxationIncome tax payable on taxable profits ("current tax") is recognised as an expense in the period in which the profitsarise. Income tax recoverable on tax allowable losses is recognised as an asset only to the extent that it is regardedas recoverable by offset against current or future taxable profits.Principality Mortgage and Insurance Services Limited Trading as Moneypilot Registered No. 0188895315Notes to the Financial StatementsFor the year ended 31 December 20211. Accounting policies (continued)(e) Share capitalOrdinary shares are classified as equity.Injected capital has been classified as other reserves as per note 9.Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, netof tax, from the proceeds.(f) Cash and cash equivalentsThis comprises cash at bank and in hand. This is held at amortised cost and all cash and cash equivalents consist ofcash held with banks.

Notes to the Financial Statements

for the Period Ended 31 December 2021

• 2. Employees

  	2021	2020
  Average number of employees during the period	0	0