FIRST UNDERWRITING LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-06-23 (in 1mo)
Last made up 2025-06-09
Watchouts
None on the register
Cash
£14M
-25% vs 2023
Net assets
£4M
+355.1% highest in 4 filed years
Employees
43
-8.5% vs 2023
Profit before tax
£402K
+191.5% highest in 3 filed years
Name history
Renamed 1 time since incorporation
- FIRST UNDERWRITING LIMITED 2018-11-29 → present
- XPEKT LIMITED 2011-11-23 → 2018-11-29
Net assets
6-year trend · vs Financials median
Accounts
6-year trend · latest reflected 2024-12-31
| Metric | Trend | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | £13,467,224 | — | — | |
| Operating profit | — | — | — | -£1,353,541 | — | — | |
| Profit before tax | — | — | — | -£1,339,364 | £137,847 | £401,803 | |
| Net profit | — | — | — | -£1,339,364 | £137,847 | £401,803 | |
| Cash | £3,101,176 | — | — | £16,749,162 | £19,173,712 | £14,373,745 | |
| Total assets less current liabilities | £3,593,482 | — | — | £5,833,831 | £6,076,535 | £6,988,001 | |
| Net assets | £1,684,291 | — | — | £458,606 | £836,712 | £3,807,894 | |
| Equity | £1,684,291 | £1,805,629 | £1,797,970 | £458,606 | £836,712 | £3,807,894 | |
| Average employees | 33 | — | — | 50 | 47 | 43 | |
| Wages | — | — | — | £4,017,122 | £3,822,177 | £3,566,217 |
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 | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | -10.1% | — | — | |
| Net margin | — | — | — | -9.9% | — | — | |
| Return on capital employed | — | — | — | -23.2% | — | — | |
| Interest cover | — | — | — | -676770.50x | — | — |
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
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Affinia (Chelmsford)
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“At the time of approving the financial statements, group support has been committed to ensure that the company is able to meet its obligations as they fall due for at least 12 months following the date of approval.”
Significant events
- “The directors note that 2025 has brought both opportunities and challenges. During 2025, the business renewed its capacity agreement on enhanced terms, reinforcing its underwriting capabilities and supporting future growth. The company remains focused on underwriting discipline, expanding its product offering, and strengthening operational resilience.”
- “During the prior year the company agreed to the waiver of amounts due to a fellow group company of £2,000,000.”
- “In March 2025, the Group undertook a rationalisation of intercompany balances and arrangements. This involved the settlement and restructuring of internal transactions between group entities.”
- “On 15 November 2024 2,000,000 ordinary shares of £1 each were issued at par.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 16 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BOAST, Jacqueline Dawn | Director | 2021-08-18 | Oct 1965 | English |
| CASTELLUCCI, Marc Anthony, Mr. | Director | 2023-04-01 | Nov 1972 | American |
| RAINSFORD, Victor Paul | Director | 2025-08-14 | Jun 1966 | American |
| RICHARDS, Stephen John | Director | 2026-02-11 | Jul 1973 | British |
| STANLEY, Gemma Susanne | Director | 2024-02-22 | Jun 1984 | British |
| TOOMEY, Simon Andrew | Director | 2021-05-11 | Apr 1988 | British |
Show 16 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BACON, Mark Haviland | Director | 2018-10-22 | 2020-10-30 |
| BARTLETT, Dean Stuart | Director | 2017-07-01 | 2018-08-17 |
| CLINTON, William Michael | Director | 2019-03-11 | 2020-01-08 |
| COLLYEAR, John Robert Newman | Director | 2018-10-22 | 2020-01-08 |
| COMLEY, Paul | Director | 2023-04-01 | 2025-12-19 |
| CORRIGAN-STUART, James Frederick | Director | 2018-10-22 | 2023-04-01 |
| COSTELLO, Jonathan Anthony, Mr. | Director | 2023-04-01 | 2025-08-14 |
| DIXON, Trevor | Director | 2012-08-01 | 2014-12-31 |
| DONACHIE, Thomas | Director | 2021-05-11 | 2023-09-11 |
| FOULDS, Shaun | Director | 2012-08-01 | 2018-10-22 |
| HART, Colin | Director | 2011-11-23 | 2018-12-06 |
| MCKERNAN, Geoffrey | Director | 2018-10-22 | 2023-04-01 |
| MCKERNAN, William Thomas | Director | 2018-10-22 | 2023-04-01 |
| MELLISH, Robin | Director | 2012-10-17 | 2017-05-17 |
| TAILOR, Ajay | Director | 2022-06-08 | 2023-01-31 |
| VALAITIS, Peter Anthony | Director | 2011-11-23 | 2012-01-26 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Kingfisher Uk Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2020-12-18 | Active |
| Nsm Mga Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2018-12-20 | Ceased 2020-12-18 |
| Mrs Julie Hart | Individual | Voting 25–50% | 2016-04-06 | Ceased 2018-12-20 |
| Mr Colin Hart | Individual | Voting 25–50% | 2016-04-06 | Ceased 2018-12-20 |
| Mr Colin Hart | Individual | Shares 25–50%, Voting 25–50% | 2016-04-06 | Ceased 2017-07-01 |
| Mrs Julie Hart | Individual | Shares 25–50%, Voting 25–50% | 2016-04-06 | Ceased 2017-07-01 |
Filing timeline
Last 20 of 100 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-01-17 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-02-17 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-30 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-17 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-17 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-05 | AA | accounts | Accounts with accounts type full | |
| 2025-07-21 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-12-23 | AA | accounts | Accounts with accounts type full | |
| 2024-11-15 | SH01 | capital | Capital allotment shares | |
| 2024-06-14 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-04-08 | AP01 | officers | Appoint person director company with name date | |
| 2024-01-17 | RESOLUTIONS | resolution | Resolution | |
| 2023-11-09 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-10-26 | AA | accounts | Accounts with accounts type full | |
| 2023-09-19 | TM01 | officers | Termination director company with name termination date | |
| 2023-09-19 | TM01 | officers | Termination director company with name termination date | |
| 2023-09-19 | TM01 | officers | Termination director company with name termination date | |
| 2023-09-19 | TM01 | officers | Termination director company with name termination date | |
| 2023-09-19 | AP01 | officers | Appoint person director company with name date | |
| 2023-09-19 | AP01 | officers | Appoint person director company with name date | |
| 2023-09-19 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 1
- Officers appointed
- 2
- 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
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
—
Not reported
-
Cash
-25%
£19,173,712 £14,373,745
-
Net assets
+355.1%
£836,712 £3,807,894
highest in 4 filed years
-
Employees
-8.5%
47 43
-
Profit before tax
+191.5%
£137,847 £401,803
highest in 3 filed years
-
Wages
-6.7%
£3,822,177 £3,566,217
lowest in 3 filed years
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