TESCO UNDERWRITING LIMITED
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Next accounts due
2026-11-30 (in 6mo)
Last filed for 2025-02-28
Confirmation statement due
2026-07-23 (in 2mo)
Last made up 2025-07-09
Watchouts
Cash
£87M
+63.1% vs 2024
Net assets
£266M
+31.3% vs 2024
Employees
403
+11.6% vs 2024
Profit before tax
£42M
+15.9% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
Name history
Renamed 1 time since incorporation
- TESCO UNDERWRITING LIMITED 2010-10-08 → present
- SHOO 471 LIMITED 2009-07-20 → 2010-10-08
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2025-02-28
| Metric | Trend | 2024-02-29 | 2025-02-28 |
|---|---|---|---|
| Turnover | £420,500,000 | £653,400,000 | |
| Operating profit | £21,400,000 | £20,900,000 | |
| Profit before tax | £35,800,000 | £41,500,000 | |
| Net profit | £27,000,000 | £31,500,000 | |
| Cash | £53,400,000 | £87,100,000 | |
| Total assets less current liabilities | £450,600,000 | £509,700,000 | |
| Net assets | £202,700,000 | £266,100,000 | |
| Equity | £202,700,000 | £266,100,000 | |
| Average employees | 361 | 403 | |
| Wages | £17,000,000 | £20,000,000 |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-02-29 | 2025-02-28 |
|---|---|---|---|
| Operating margin | 5.1% | 3.2% | |
| Net margin | 6.4% | 4.8% | |
| Return on capital employed | 4.7% | 4.1% | |
| Gearing (liabilities / total assets) | 76.7% | 74.9% | |
| Current ratio | 0.39x | 0.33x | |
| Interest cover | 3.29x | 1.99x |
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.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“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.”
Significant events
- “During the year the ownership structure changed from TPF to TPFG. Tesco Underwriting Limited is now a wholly owned subsidiary of Tesco Personal Finance Group Limited. Its ultimate parent company remains Tesco PLC.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
9 active · 37 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| STIVEY, Gail Evelyn | Secretary | 2025-07-04 | — | — |
| BUCKLEY, Elizabeth Mary | Director | 2024-04-01 | Aug 1968 | Irish |
| BUNDELL, Craig Peter | Director | 2025-07-04 | Jan 1981 | British |
| CASS, Gillian Barbara | Director | 2024-11-29 | Mar 1976 | British |
| CRONIN, Margot | Director | 2018-09-06 | Aug 1963 | Irish |
| CURRIE, Julie Louise | Director | 2025-10-31 | Mar 1974 | British |
| GREENWOOD, Jonathan Paul | Director | 2025-09-29 | Mar 1968 | British |
| RAMSAY, Caroline Frances, Ms | Director | 2016-07-21 | Dec 1962 | British |
| READER, Gary John Charles | Director | 2025-01-23 | Sep 1963 | British |
Show 37 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MARSH, Claire Catherine | Secretary | 2019-11-25 | 2021-05-04 |
| MITCHELL, Patricia Lynne | Secretary | 2024-11-01 | 2025-07-04 |
| SMITH, Rosemary Anne | Secretary | 2009-09-09 | 2019-11-01 |
| STIVEY, Gail Evelyn | Secretary | 2021-05-04 | 2024-11-01 |
| SHOOSMITHS SECRETARIES LIMITED | Corporate Secretary | 2009-07-20 | 2009-09-09 |
| ANTHONY, Colin James | Director | 2016-07-29 | 2021-05-04 |
| BAUGHAN, Andrew John | Director | 2010-09-09 | 2012-08-31 |
| BEDLOW, Karl Robert Douglas | Director | 2013-03-28 | 2020-03-31 |
| BOISSEAU, Francois-Xavier Bernard | Director | 2016-06-01 | 2018-12-31 |
| BOLE, Peter Douglas | Director | 2009-09-09 | 2016-06-30 |
| BROUGHTON, Stephen William | Director | 2010-07-22 | 2014-06-30 |
| CALLANDER, David Lachlan | Director | 2010-03-18 | 2012-01-24 |
| CARTER, Geoffrey Richard | Director | 2010-05-13 | 2015-10-31 |
| CARTIN, Paul Stephen | Director | 2022-07-01 | 2024-11-01 |
| CHALLAND, Robin | Director | 2019-02-21 | 2021-05-04 |
| CLARKE, Adam James | Director | 2019-02-21 | 2021-05-04 |
| CLARKE, Adam James | Director | 2013-09-25 | 2016-06-01 |
| DUGGAN, Gary John | Director | 2021-08-06 | 2025-02-11 |
| DYSON, Fernley Keith | Director | 2012-01-24 | 2018-12-31 |
| FEARN, Jayne Elizabeth | Director | 2009-07-20 | 2009-09-09 |
| GRAINGE, Stephen | Director | 2010-05-13 | 2022-06-30 |
| HARVEY, Julian Robert Mark | Director | 2010-03-18 | 2013-03-31 |
| HENDERSON, Richard John | Director | 2020-04-01 | 2021-05-04 |
| HOLLIDAY, Timothy Victor | Director | 2016-07-21 | 2018-07-19 |
| HOPES, Julie | Director | 2010-03-18 | 2012-09-28 |
| HOURICAN, Declan Joseph | Director | 2016-11-14 | 2021-05-04 |
| KINGSHOTT, Stephen Mitchell | Director | 2015-12-11 | 2021-08-05 |
| MACHELL, Simon Christopher John | Director | 2016-01-01 | 2025-05-01 |
| MCCAULEY, Darren John | Director | 2013-07-25 | 2016-05-11 |
| MILLER, Diana Susan | Director | 2011-04-07 | 2016-06-30 |
| PIERCE, Raymond Francis | Director | 2010-07-22 | 2015-12-31 |
| PRICE, Jonathan Stewart | Director | 2019-04-25 | 2021-05-04 |
| SHAH, Niraj Amratlal Devraj | Director | 2016-06-01 | 2018-12-31 |
| THOMAS, Matthew David | Director | 2009-09-09 | 2016-06-01 |
| TOWNSEND, Roger Charles | Director | 2010-12-16 | 2016-06-30 |
| URMSTON, Michael Norris | Director | 2014-08-11 | 2017-08-31 |
| WINLOW, Mark | Director | 2017-12-08 | 2021-05-04 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Tesco Personal Finance Group Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2025-02-19 | Active |
| Tesco Personal Finance Plc | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Ceased 2025-02-19 |
| Ageas (Uk) Limited | Corporate entity | Shares 50–75%, Voting 50–75% | 2016-04-06 | Ceased 2021-07-09 |
Filing timeline
Last 20 of 180 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-18 MA Memorandum articles
- 2026-03-18 RESOLUTIONS Resolution
- 2025-03-06 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-18 | MA | incorporation | Memorandum articles | |
| 2026-03-18 | RESOLUTIONS | resolution | Resolution | |
| 2026-03-17 | SH08 | capital | Capital name of class of shares | |
| 2025-11-07 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-09 | AP01 | officers | Appoint person director company with name date | |
| 2025-07-22 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-07-11 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-07-11 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-07-11 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-16 | AA | accounts | Accounts with accounts type full | |
| 2025-05-06 | TM01 | officers | Termination director company with name termination date | |
| 2025-03-06 | RESOLUTIONS | resolution | Resolution | |
| 2025-03-04 | SH08 | capital | Capital name of class of shares | |
| 2025-03-03 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-03-03 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-03-03 | SH01 | capital | Capital allotment shares | |
| 2025-02-13 | TM01 | officers | Termination director company with name termination date | |
| 2025-02-06 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-16 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-14 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 11
- Capital events
- 3
- Officers appointed
- 4
- Officers resigned
- 2
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2024 → FY2025 · period ending 2025-02-28 vs 2024-02-29
-
Turnover
+55.4%
£420,500,000 £653,400,000
-
Cash
+63.1%
£53,400,000 £87,100,000
-
Net assets
+31.3%
£202,700,000 £266,100,000
-
Employees
+11.6%
361 403
-
Operating profit
-2.3%
£21,400,000 £20,900,000
-
Profit before tax
+15.9%
£35,800,000 £41,500,000
-
Wages
+17.6%
£17,000,000 £20,000,000
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