W.J.TATEM LIMITED

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Moore Kingston Smith LLP

Audit opinion

Qualified

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Group structure

1. W.J.TATEM LIMITED · parent
   1. Kingswood Underwriting Limited 100% · London · Writing insurance in the Lloyd's Ordinary insurance market as a Lloyd's corporate capital member

Significant events

• “The year to 31 March 2025 was flat with little confidence, especially in the UK. Our net asset value per Ordinary A share was down 0.4% after a rise of 7% last year.”
• “Overall, there was a loss on sale of investments of £303,313 (2024 gain of £259,679). Also, there was an unrealised gain, assets worth more at the end of the year than at the beginning of the year, on assets we still held at the end of the year, of £512,566 (2024 - gain of £2,756,998).”
• “On 28 February 2025, a special resolution was passed to amend the articles of association. Ordinary A shares continue to carry voting rights but no longer carry the right to a fixed dividend of £1.80 per share and instead, can be paid dividends at the discretion of the Directors.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -7.2%

  £651,262 → £604,596

• Cash

  +106.3%

  £880,652 → £1,816,668

• Net assets

  -0.4%

  £31,101,869 → £30,981,002

• Employees

  +50%

  4 → 6

• Operating profit

  -23.4%

  £470,414 → £360,255

• Profit before tax

  -83.2%

  £3,490,125 → £586,396

• Wages

  +15%

  £60,000 → £69,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers