HUGHES INSURANCE SERVICES LIMITED

• ◆

  4 officer resignations in last 12 months

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

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. HUGHES INSURANCE SERVICES LIMITED 2014-07-03 → present
2. VISION UNDERWRITING LIMITED 2002-05-30 → 2014-07-03

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors recognise the financial situation of the Company evidenced by the loss for the financial year of £1,186,000 and net decrease in shareholders' funds of £13,336,000 but also note the strong balance sheet position with Net Current Assets of £21,033,000 and Net Assets of £21,297,000. The market for insurance products in Northern Ireland continues to be highly competitive across all distribution channels. Despite the competitive environment, the Directors remain satisfied with the performance of the Company in the current year and believe that the Company has adequate resources to continue in operational existence to 31 July 2026. The Company's financial forecasts and projections, which are prepared to the end of July 2026 and which include sensitivity analysis with worst case scenario which the directors believe to be a remote possibility, show that the Company continues to be cash generative, taking account of the potential changes in trading performance, and it will seek to operate within its facilities and meet its obligations as they fall due for the foreseeable future. Accordingly, the Company continues to adopt the going concern basis in preparing the annual report and financial statements.”

Significant events

• “In August 2024, the Company undertook a reduction of its share premium account from £50,139,000 to £37,989,000 in order to return capital of £12,150,000 to its then immediate parent company Liberty UK and Europe Holdings Ltd.”
• “In November 2024, the Company was acquired by Markerstudy Group (via its subsidiary Atlanta Investment Holdings 2 Limited).”
• “In June 2024, the Company sold its Head Office building, Strangford House, incurring a loss on disposal of £1,221,000.”
• “In January 2025 the Company made a loan to Markerstudy Group Treasury Limited of £5 million that is repayable on demand.”

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

Filings

10

last 12 months

Capital events

0

last 24 months

Officers appointed

4

last 12 months

Officers resigned

4

last 12 months

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