Insure I Limited

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insure i limited Company Information

Live

EstablishedSmallDeclining

Company Number

NI072940

Website

www.insureltd.co.nz

Registered Address

unit 1, potters quay, ravenhill road, belfast, BT6 8DN

Industry

Non-life insurance

Telephone

02890469990

Next Accounts Due

December 2024

Group Structure

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Directors

Ashok Songra15 Years

Suresh Tharmaratnam15 Years

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Shareholders

suresh tharmaratnam 43%

madan songra 21.5%

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insure i limited Estimated Valuation

£1.1m

Pomanda estimates the enterprise value of INSURE I LIMITED at £1.1m based on Net Assets of £722.6k and 1.48x industry multiple (adjusted for liquidity).

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Insure I Limited is a live company located in belfast, BT6 8DN with a Companies House number of NI072940. It operates in the non-life insurance sector, SIC Code 65120. Founded in June 2009, it's largest shareholder is suresh tharmaratnam with a 43% stake. Insure I Limited is a established, small sized company, Pomanda has estimated its turnover at £531.9k with declining growth in recent years.

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Pomanda's financial health check has awarded Insure I Limited a 1.5 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 7 areas for improvement. Company Health Check FAQs

Health Rating1.5out of 5

1 Strong

3 Regular

7 Weak

Size

annual sales of £531.9k, make it smaller than the average company (£2m)

Growth

3 year (CAGR) sales growth of -9%, show it is growing at a slower rate (7%)

EXPORT

Insure I Limited's latest turnover from March 2023 is estimated at £531.9 thousand and the company has net assets of £722.6 thousand. According to their latest financial statements, Insure I Limited has 12 employees and maintains cash reserves of £385.4 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Jan 2010
Turnover	531,861	577,559	654,822	712,331	654,305	611,520	321,451	565,122	1,314,184	588,329	9,307	87,761	91,637	1,620
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	166,577	198,425	247,539	269,070	245,502	0	0	280,592	707,743	357,671	5,515	50,770	53,168	937
Gross Profit	365,284	379,133	407,283	443,261	408,803	611,520	321,451	284,530	606,440	230,658	3,792	36,991	38,468	683
Admin Expenses	304,507	231,920	173,680	374,843	268,532	437,074	510,926	402,865	648,334	6,235	120,909	126,574	93,709	17,181
Operating Profit	60,777	147,213	233,603	68,418	140,271	174,446	-189,475	-118,335	-41,894	224,423	-117,117	-89,583	-55,241	-16,498
Interest Payable	0	17,213	15,555	2,826	5,146	0	0	0	0	0	0	112	112	0
Interest Receivable	13,867	2,760	449	403	1,983	0	0	1,504	820	822	316	2	3	3
Pre-Tax Profit	74,643	132,760	218,496	65,995	137,109	140,329	-189,052	-116,831	-41,074	225,244	-116,801	-89,693	-55,350	-16,496
Tax	-14,182	-25,224	-41,514	-12,539	-26,051	0	0	0	0	-51,806	0	0	0	0
Profit After Tax	60,461	107,536	176,982	53,456	111,058	140,329	-189,052	-116,831	-41,074	173,438	-116,801	-89,693	-55,350	-16,496
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	60,461	107,536	176,982	53,456	111,058	140,329	-189,052	-116,831	-41,074	173,438	-116,801	-89,693	-55,350	-16,496
Employee Costs	624,933	525,079	495,850	524,476	495,862	293,733	276,946	432,529	288,771	143,305	45,988	44,593	44,073	49,093
Number Of Employees	12	10	10	11	10	10	11	9	6	3	1	1	1	1
EBITDA*	79,707	159,378	250,056	89,920	168,695	211,456	-155,278	-87,256	-14,317	243,224	-94,543	-67,938	-50,119	-16,498

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Jan 2010
Tangible Assets	1,079,110	18,930	30,699	35,772	49,273	64,508	87,561	101,696	99,412	71,014	18,557	26,141	19,822	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	14,990	0	0
Investments & Other	1,429,033	1,395,033	1,344,278	0	0	0	0	0	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	2,508,143	1,413,963	1,374,977	35,772	49,273	64,508	87,561	101,696	99,412	71,014	18,557	41,131	19,822	0
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	290,567	388,450	0	0	0	0	0	0	996,973	410,919	6,218	57,524	59,677	0
Group Debtors	0	0	0	0	0	0	0	4,495	0	0	0	0	0	0
Misc Debtors	0	0	229,772	418,443	0	514,829	863,460	677,125	0	0	0	0	0	0
Cash	385,429	267,118	468,901	428,551	377,780	151,115	453,954	476,363	125,321	202,722	125,920	609	0	1,000
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	675,996	655,568	698,673	846,994	651,540	665,944	1,317,414	1,157,983	1,122,294	613,641	132,138	58,133	59,677	1,000
total assets	3,184,139	2,069,531	2,073,650	882,766	700,813	730,452	1,404,975	1,259,679	1,221,706	684,655	150,695	99,264	79,499	1,000
Bank overdraft	0	0	0	0	0	59,802	23,669	0	0	0	0	0	3,440	0
Bank loan	0	0	98,421	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	1,654,831	1,081,051	155,205	152,340	149,010	139,721	382,804	470,000	1,028,699	437,803	88,413	67,506	50,850	17,494
Group/Directors Accounts	0	0	580,017	93,460	0	259,792	844,915	480,153	0	0	0	0	0	0
other short term finances	0	0	0	0	92,666	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	0	0	273,792	259,312	0	64,667	87,446	44,642	0	0	0	0	0	0
total current liabilities	1,654,831	1,081,051	1,107,435	505,112	376,615	523,982	1,338,834	994,795	1,028,699	437,803	88,413	67,506	54,290	17,494
loans	0	0	411,579	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	806,675	326,308	0	0	0	0	0	9,691	20,983	31,985	43,083	5,297	0	0
provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	806,675	326,308	411,579	0	0	0	0	9,691	20,983	31,985	43,083	5,297	0	0
total liabilities	2,461,506	1,407,359	1,519,014	505,112	376,615	523,982	1,338,834	1,004,486	1,049,682	469,788	131,496	72,803	54,290	17,494
net assets	722,633	662,172	554,636	377,654	324,198	206,470	66,141	255,193	172,024	214,867	19,199	26,461	25,209	-16,494
total shareholders funds	722,633	662,172	554,636	377,654	324,198	206,470	66,141	255,193	172,024	214,867	19,199	26,461	25,209	-16,494

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Jan 2010
Operating Activities
Operating Profit	60,777	147,213	233,603	68,418	140,271	174,446	-189,475	-118,335	-41,894	224,423	-117,117	-89,583	-55,241	-16,498
Depreciation	18,930	12,165	16,453	21,502	28,424	37,010	34,197	31,079	27,577	18,801	7,584	6,655	5,122	0
Amortisation	0	0	0	0	0	0	0	0	0	0	14,990	14,990	0	0
Tax	-14,182	-25,224	-41,514	-12,539	-26,051	0	0	0	0	-51,806	0	0	0	0
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	-97,883	158,678	-188,671	418,443	-514,829	-348,631	181,840	-315,353	586,054	404,701	-51,306	-2,153	59,677	0
Creditors	573,780	925,846	2,865	3,330	9,289	-243,083	-87,196	-558,699	590,896	349,390	20,907	16,656	33,356	17,494
Accruals and Deferred Income	0	-273,792	14,480	259,312	-64,667	-22,779	42,804	44,642	0	0	0	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	737,188	627,530	414,558	-78,420	602,095	294,225	-381,510	-285,960	-9,475	136,107	-22,330	-49,129	-76,440	996
Investing Activities
capital expenditure	-1,079,110	-396	-11,380	-8,001	-13,189	-13,957	-20,062	-33,363	-55,975	-71,258	0	-42,954	-24,944	0
Change in Investments	34,000	50,755	1,344,278	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-1,113,110	-51,151	-1,355,658	-8,001	-13,189	-13,957	-20,062	-33,363	-55,975	-71,258	0	-42,954	-24,944	0
Financing Activities
Bank loans	0	-98,421	98,421	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	-580,017	486,557	93,460	-259,792	-585,123	364,762	480,153	0	0	0	0	0	0
Other Short Term Loans	0	0	0	-92,666	92,666	0	0	0	0	0	0	0	0	0
Long term loans	0	-411,579	411,579	0	0	0	0	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	480,367	326,308	0	0	0	0	-9,691	-11,292	-11,002	-11,098	37,786	5,297	0	0
share issue	0	0	0	0	6,670	0	0	200,000	-1,769	22,230	109,539	90,945	97,053	2
interest	13,867	-14,453	-15,106	-2,423	-3,163	0	0	1,504	820	822	316	-110	-109	3
cash flow from financing	494,234	-778,162	981,451	-1,629	-163,619	-585,123	355,071	670,365	-11,951	11,954	147,641	96,132	96,944	5
cash and cash equivalents
cash	118,311	-201,783	40,350	50,771	226,665	-302,839	-22,409	351,042	-77,401	76,802	125,311	609	-1,000	1,000
overdraft	0	0	0	0	-59,802	36,133	23,669	0	0	0	0	-3,440	3,440	0
change in cash	118,311	-201,783	40,350	50,771	286,467	-338,972	-46,078	351,042	-77,401	76,802	125,311	4,049	-4,440	1,000

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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INSURE I LIMITED group structure

Insure I Limited has no subsidiary companies.

Ultimate parent company

KINGSBRIDGE HEALTHCARE GROUP LIMITED

NI629490

352 MEDICAL LIMITED

NI056235

2 parents

INSURE I LIMITED

NI072940

INSURE I LIMITED Shareholders

suresh tharmaratnam	43.03%
madan songra	21.51%
ashok songra	21.51%
gavin higgins	13.94%

Insure I Limited currently has 3 directors. The longest serving directors include Mr Ashok Songra (Jul 2009) and Dr Suresh Tharmaratnam (Jul 2009).

officer	country	age	start	end	role
Mr Ashok Songra	United Kingdom	64 years	Jul 2009	-	Director
Dr Suresh Tharmaratnam	Northern Ireland	61 years	Jul 2009	-	Director
Mr Gavin Higgins	Northern Ireland	61 years	Aug 2009	-	Director

P&L

March 2023

turnover

531.9k

-8%

operating profit

60.8k

gross margin

68.7%

+4.63%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

March 2023

net assets

722.6k

+0.09%

total assets

3.2m

+0.54%

cash

385.4k

+0.44%

net assets

Total assets minus all liabilities

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company number

NI072940

Type

Private limited with Share Capital

industry

65120 - Non-life insurance

incorporation date

June 2009

ultimate parent company

KINGSBRIDGE HEALTHCARE GROUP LIMITED

previous names

N/A

address

unit 1, potters quay, ravenhill road, belfast, BT6 8DN

A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.

We found 2 charges/mortgages relating to insure i limited. Currently there are 2 open charges and 0 have been satisfied in the past.

insure i limited Company Information

insure i limited Estimated Valuation

insure i limited Estimated Valuation

insure i limited Estimated Valuation

Insure I Limited Overview

Insure I Limited Health Check

INSURE I LIMITED financials

insure i limited Credit Report and Business Information

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