Registered number:
Unaudited
For the Year Ended
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Insureon Group Limited
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Insureon Group Limited for the Year Ended 30 April 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Insureon Group Limited for the year ended 30 April 2017 which comprise the Balance sheet and the related notes from the Company 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 at
http://www.icaew.com/en/
members/regulations-standards-and-guidance/
.
This report is made solely to the director of Insureon Group Limited in accordance with the terms of our engagement letter dated
6 March 2015. Our work has been undertaken solely
to prepare for your approval the financial statements of Insureon Group Limited and state those matters that we have agreed to state to the director of Insureon Group Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Insureon Group Limited and its director for our work or for this report.
It is your duty to ensure that Insureon Group 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 profit or loss of Insureon Group Limited. You consider that Insureon Group Limited is exempt from the statutory audit requirement for the year.
Chartered Accountants
37 St Margaret's Street
Kent
CT1 2TU
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Insureon Group Limited
Registered number:
06551193
Balance sheet
As at
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 statement of comprehensive income 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
The notes on pages 3 to 7 form part of these financial statements.
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Insureon Group Limited
Notes to the financial statements
For the Year Ended 30 April 2017
Insureon Group Limited is a limited liability company incorporated in England. The company's registered office is 37 St Margaret's Street, Canterbury, Kent, CT1 2TU. The principal activity of the company is that of insurance brokers.
2.
Accounting policies
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 following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Insureon Group Limited
Notes to the financial statements
For the Year Ended 30 April 2017
2.
Accounting policies (continued)
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.
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.
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Insureon Group Limited
Notes to the financial statements
For the Year Ended 30 April 2017
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Insureon Group Limited
Notes to the financial statements
For the Year Ended 30 April 2017
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Insureon Group Limited
Notes to the financial statements
For the Year Ended 30 April 2017
Page 7
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