Insurestreet Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 10287920 (England and Wales)

Unaudited Financial Statements

for the Period 1 January 2017 to 30 September 2017

for

Insurestreet Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

M T Farooqui

N W Carnaffan

SECRETARY:

Eriska Secretaries Limited

REGISTERED OFFICE:

1st Floor, Buckhurst House

42/44 Buckhurst Avenue

Sevenoaks

Kent

TN13 1LZ

BUSINESS ADDRESS:

25 Moorgate

London

EC2R 6AY

REGISTERED NUMBER:

10287920 (England and Wales)

ACCOUNTANTS:

Cameron Cunningham Limited

1st Floor, Buckhurst House

42/44 Buckhurst Avenue

Sevenoaks

Kent

TN13 1LZ

FIXED ASSETS

Intangible assets

4

19,333

-

Tangible assets

5

2,952

-

22,285

-

CURRENT ASSETS

Debtors

6

15,292

28,284

Cash at bank and in hand

1,277,993

23,865

1,293,285

52,149

CREDITORS

Amounts falling due within one year

7

837,678

157,740

NET CURRENT ASSETS/(LIABILITIES)

455,607

(105,591

)

TOTAL ASSETS LESS CURRENT LIABILITIES

477,892

(105,591

)

CAPITAL AND RESERVES

Called up share capital

8

177

100

Share premium

9

1,914,923

-

Other reserves

9

-

192,500

Retained earnings

9

(1,437,208

)

(298,191

)

SHAREHOLDERS' FUNDS

477,892

(105,591

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 5 January 2018 and were signed on its behalf by:

M T Farooqui - Director

1.	STATUTORY INFORMATION

Insurestreet 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

The depreciation on Plant and Machinery is 33% straight line basis.

Taxation

Taxation for the period 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the statement of financial position 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 period 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Going concern

We believe the company's financial statements should be prepared on a going concern basis on the

grounds that the current and future sources of funding or support will be more than adequate for

the company's needs.

We believe no further disclosures relating to the company's ability to continue as a going concern

need to be made in the financial statements. In assessing going concern, we have paid particular

attention to a period of not less than one year from the date of approval of the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2016 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

20,000

At 30 September 2017

20,000

AMORTISATION

Charge for period

667

At 30 September 2017

667

NET BOOK VALUE

At 30 September 2017

19,333

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

3,056

At 30 September 2017

3,056

DEPRECIATION

Charge for period

104

At 30 September 2017

104

NET BOOK VALUE

At 30 September 2017

2,952

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

15,292

28,284

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

3,385

-

Trade creditors

706,676

154,117

Taxation and social security

120,262

1,823

Other creditors

7,355

1,800

837,678

157,740

There is no security on any of the creditors in 2017 (None in 2016)

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1,427,191

Ordinary

0.000

1

143

100

343,818

Preferred Ordinary

0.000

1

34

-

177

100

The following fully paid shares were allotted during the period at a premium as shown below:

427,191 Ordinary shares of 0.0001 each at 1.55658 per share

343,818 Preferred Ordinary shares of 0.0001 each at 3.635547 per share

The company has an equity settled option scheme.

The options are vested over 3 years with an exercise price of £0.0001.

The company had nil options at the start of the year.

The company granted 152,285 (2016: nil)in the year.

No options where forfeited or exercised within the year.

No options vested during the year. (2016:nil)

No options expired during the year. (2016:nil)

The company has 152,285 options outstanding at the end of the period.

9.

RESERVES

Retained

Share

Other

earnings

premium

reserves

Totals

£

£

£

£

At 1 January 2017

(298,191

)

-

192,500

(105,691

)

Deficit for the period

(1,139,017

)

(1,139,017

)

Cash share issue

-

1,914,923

(192,500

)

1,722,423

At 30 September 2017

(1,437,208

)

1,914,923

-

477,715

Included within Other reserves are advance share subscriptions of £nil (2016: £192,500)

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the periods ended

30 September 2017 and 31 December 2016:

2017

2016

£

£

M T Farooqui

Balance outstanding at start of period

100

-

Amounts advanced

16,335

100

Amounts repaid

(1,063

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

15,372

100

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and

certain other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Insurestreet Limited for the period ended 30 September 2017 which

comprise the Income Statement, Statement of Financial Position and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Insurestreet Limited, as a body, in accordance with the terms of our engagement letter dated 28 November 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Insurestreet Limited and state those matters that we have agreed to state to the Board of Directors of Insurestreet Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Insurestreet Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Insurestreet Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Insurestreet Limited. You consider that Insurestreet Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Insurestreet 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 financial statements.

Cameron Cunningham Limited

1st Floor, Buckhurst House

42/44 Buckhurst Avenue

Sevenoaks

Kent

TN13 1LZ

5 January 2018