PINE WALK CAPITAL LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-12-08 (in 7mo)
Last made up 2025-11-24
Watchouts
None on the register
Cash
£236M
+66.1% vs 2023
Net assets
£243M
+77.7% vs 2023
Employees
94
+25.3% vs 2023
Profit before tax
£154M
+11.9% vs 2023
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £238,176,427 | £299,258,710 | |
| Operating profit | £131,949,592 | £139,659,007 | |
| Profit before tax | £137,879,911 | £154,336,546 | |
| Net profit | £107,487,027 | £117,642,698 | |
| Cash | £142,105,263 | £236,026,686 | |
| Total assets less current liabilities | £139,807,265 | £248,109,711 | |
| Net assets | £136,990,363 | £243,365,456 | |
| Equity | £136,990,363 | £243,365,456 | |
| Average employees | 75 | 94 | |
| Wages | £8,302,446 | £11,193,477 |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 55.4% | 46.7% | |
| Net margin | 45.1% | 39.3% | |
| Return on capital employed | 94.4% | 56.3% | |
| Gearing (liabilities / total assets) | 58.0% | 55.7% | |
| Current ratio | 1.73x | 1.81x | |
| Interest cover | 1780.00x | 269.14x |
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
- Consolidated group
- Auditor
- KPMG LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Consequently, the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for at least 12 months from the approval date of these consolidated financial statements. Thus, they continue to adopt the Going Concern basis of accounting in preparing the consolidated financial statements.”
Group structure
- PINE WALK CAPITAL LIMITED · parent
- Pine Walk Europe SRL Limited 1%
- Pine Walk Europe SRL Limited (Preference Shares 'G') 1%
- Tiomanta Specialty Limited 1%
- Perigon Product Recall Limited 0.75%
- OPEnergy Limited 0.75%
- Navium Marine Limited 0.7%
- Pernix Specialty Limited 0.75%
- Itasca MGA Limited 0.6%
- Radius Specialty Limited 0.2%
- Oakside Surety Limited 0.4%
- Itasca MGA Services Ltd 0.6%
- Novagen Specialty Limited 0.75%
- Silverflame Re Limited 0.7%
- Seraphina Specialty Limited 0.75%
- Truepath Specialty Limited 1%
- Sevanta Specialty Liability Limited 0.7%
Significant events
- “On 21 May 2024, The Fidelis Partnership undertook a 9.9% participation in Lloyd's Syndicate 3123 ("Syndicate 3123") 2024 Year of Account.”
- “Strategic expansion of the Group included launching three new MGA entities in 2024.”
- “The Group intends to move Pine Walk Europe's corporate seat from Belgium to Ireland by means of a cross-border conversion under Directive (EU) 2019/2121 of the European Parliament and of the Council of 27 November 2019 amending Directive (EU) 2017/1132 as regards cross-border conversions, mergers and divisions (the "Mobility Directive"), subject to receipt of all necessary legal, regulatory and corporate approvals.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 7 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MOLONEY, Man Wah Erie, Ms. | Secretary | 2023-03-01 | — | — |
| DAVERN, Michael Elliot | Director | 2025-10-03 | Sep 1980 | British |
| DAWE, Grahame Trevethan | Director | 2021-04-29 | May 1970 | British |
| MATHIAS, Charles Benedict | Director | 2023-01-01 | Dec 1961 | British |
| SWEETSER, Christopher Smith, Mr. | Director | 2025-09-18 | Jun 1980 | American |
| WELLS, Suzanne | Director | 2026-03-03 | Feb 1979 | British |
Show 7 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CALLIDUS SECRETARIES LIMITED | Corporate Secretary | 2017-10-01 | 2023-03-01 |
| BURFORD, Ian | Director | 2019-07-31 | 2021-04-12 |
| BURROWS, Daniel David | Director | 2017-09-22 | 2022-12-19 |
| COTTELL, Michael Charles | Director | 2020-11-12 | 2024-04-05 |
| INGHAM, Sharon Julia | Director | 2017-09-22 | 2020-08-28 |
| PATEL, Hinal Sagoon | Director | 2022-12-19 | 2025-06-23 |
| PATEL, Rinku | Director | 2017-07-03 | 2025-10-14 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Fidelis Insurance Holdings Limited | Corporate entity | Shares 50–75%, Voting 50–75%, Appoints directors | 2017-09-27 | Ceased 2020-01-15 |
| Rinku Patel | Individual | Shares 25–50%, Voting 25–50% | 2017-09-27 | Ceased 2019-12-09 |
| Mr Rinku Patel | Individual | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-07-03 | Ceased 2017-09-27 |
Filing timeline
Last 20 of 84 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-04 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-09 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-12-09 | CH01 | officers | Change person director company with change date | |
| 2025-11-07 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-22 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-24 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-11 | AA | accounts | Accounts with accounts type group | |
| 2025-07-03 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-02 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-02-20 | ANNOTATION | miscellaneous | Legacy | |
| 2025-02-20 | ANNOTATION | miscellaneous | Legacy | |
| 2025-02-11 | ANNOTATION | miscellaneous | Legacy | |
| 2025-01-13 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2025-01-09 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-28 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-09-24 | AA | accounts | Accounts with accounts type group | |
| 2024-04-12 | TM01 | officers | Termination director company with name termination date | |
| 2023-12-20 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-12-13 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2023-09-19 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 0
- Officers appointed
- 3
- 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
+25.6%
£238,176,427 £299,258,710
-
Cash
+66.1%
£142,105,263 £236,026,686
-
Net assets
+77.7%
£136,990,363 £243,365,456
-
Employees
+25.3%
75 94
-
Operating profit
+5.8%
£131,949,592 £139,659,007
-
Profit before tax
+11.9%
£137,879,911 £154,336,546
-
Wages
+34.8%
£8,302,446 £11,193,477
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