LONDON PROCESSING CENTRE LIMITED

• ◆

  9 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. LONDON PROCESSING CENTRE LIMITED 1993-05-26 → present
2. PROOFEMIT LIMITED 1993-04-19 → 1993-05-26

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 101

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company is profit making, reports net assets, has positive working capital and forecasts profitable trading into the future; thus, the directors have a reasonable expectation that the Company has adequate access to resources from its continuing trading results reserves and access to group support that it can continue in operational existence at least for a period of 12 months from date of authorisation of these financial statements.”

Significant events

• “On the 18th September 2023 Ins-sure Holdings Ltd and its' subsidiaries, and Xchanging Claims Services Ltd and its' subsidiaries adopted the trading name Velonetic™. Velonetic brings a single identity to the London Market Joint Ventures which has been referred to as the JV, Xchanging, XIS, XCS, and the Bureau over our 20-year history.”
• “On the 5 November 2020 Corporation of Lloyd's (Lloyd's) published Blueprint Two which sets out their strategy to deliver profound change in the Lloyd's market through digitalisation. The Digital Processing Services Programme will implement a transformation of the London Market's central processing and claims services with digital channels aligned to open industry standards allowing the London Market to move to structured data capture and automated processing.”
• “On 21st June 2024 Velonetic announced that the cutover to phase one digital services, will be postponed to ensure safety and ample market readiness. Subsequently in September 2025 Lloyds in conjunction with DXC and the IUA announced a go-live of no earlier than 2028.”
• “The company has declared and paid a dividend of £14,000,000 post year end to Ins-sure Holdings Ltd (2024: £nil).”

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

Filings

19

last 12 months

Capital events

0

last 24 months

Officers appointed

4

last 12 months

Officers resigned

9

last 12 months

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

• Turnover

  +5.7%

  £18,279,000 → £19,322,000

• Cash

  +44.1%

  £10,358,000 → £14,922,000

• Net assets

  +12.3%

  £31,056,000 → £34,875,000

• Employees

  0%

  17 → 17

• Operating profit

  +496.2%

  £581,000 → £3,464,000

• Profit before tax

  +171.9%

  £1,631,000 → £4,435,000

• Wages

  +0.1%

  £754,000 → £755,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers