Moesgo smart Thermostat UK wiring: A little advice?

[DioxideC]

Hi all,
Wondered if anyone could help me out. I wanted to install a new smart thermostat myself.
A little background:
From UK
I have my old thermostat with 3 wires plus earth

I wanted to install this Moesgo smart:

From the research I've done so far. Would I be correct in saying:
OLD NEW
L (Brown) > L(4) --- Loop to 1
N (Blue) > N(3) |
3 (Red) > (2) |
(1) ----
Earth > ?

or if the formatting of the above doesnt come out readable then:

L (Brown) from old > L(4) on new
N (Blue) from old > N(3) on new
Loop a wire from L(4) + (1)
3(Red) from old > 2 on new

I Hope that makes sense.

Also there doesn't appear to be anywhere to place the earth wire, Can I just wrap some insulation tape around it and tuck it out the way? or would I need to do anything specific with that wire?

Thanks to anyone that can help me.

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[ianmcd]

yes your wiring is correct, the moesgo doesnt need an earth so insulate and safely isolate

 

[DioxideC]

Thank for the reply.