FIRST UNDERWRITING LIMITED
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Cash
£17m
+17.4% vs 2024
Net assets
£5m
+32.1% highest in 6 filed years
Employees
47
+9.3% vs 2024
Profit before tax
£781k
+94.4% highest in 4 filed years
Net assets
6-year trend · vs Financials median
Accounts
6-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|---|---|---|
| Turnover | — | — | £13,467,224 | £11,683,857 | £13,441,674 | £12,417,779 | -7.6% | |
| Operating profit | — | — | -£1,353,541 | £60,419 | £518,911 | £787,012 | +51.7% | |
| Profit before tax | — | — | -£1,339,364 | £137,847 | £401,803 | £781,196 | +94.4% | |
| Net profit | — | — | -£1,339,364 | £137,847 | £401,803 | £416,684 | +3.7% | |
| Cash | £10,509,553 | £16,275,580 | £16,749,162 | £19,173,712 | £14,373,745 | £16,878,453 | +17.4% | |
| Total assets less current liabilities | £3,812,086 | £4,823,046 | £5,833,831 | £6,475,381 | £6,988,001 | £7,421,201 | +6.2% | |
| Net assets | £1,805,629 | £1,797,970 | £458,606 | £836,712 | £3,807,894 | £5,030,227 | +32.1% | |
| Equity | £1,805,629 | £1,797,970 | £458,606 | £836,712 | £3,807,894 | £5,030,227 | +32.1% | |
| Average employees | 44 | 47 | 50 | 47 | 43 | 47 | +9.3% | |
| Wages | — | — | £4,017,122 | £3,822,177 | £3,566,217 | £3,581,996 | +0.4% | |
| Directors' remuneration | — | — | £587,404 | £319,472 | £383,017 | £430,589 | +12.4% | |
| Directors' pension contributions | — | — | — | £16,112 | £20,822 | — | — | |
| Highest paid director | — | — | — | £211,658 | £218,017 | £262,069 | +20.2% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | -10.1% | 0.5% | 3.9% | 6.3% | |
| Net margin | — | — | -9.9% | 1.2% | 3.0% | 3.4% | |
| Return on capital employed | — | — | -23.2% | 0.9% | 7.4% | 10.6% | |
| Gearing (liabilities / total assets) | 88.5% | 93.0% | 98.5% | — | 87.7% | 84.7% | |
| Current ratio | — | — | — | 1.30x | 1.27x | 1.27x | |
| Interest cover | — | — | — | — | 4.43x | — |
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.
Name history
Renamed 1 time since incorporation
- FIRST UNDERWRITING LIMITED 2018-11-29 → present
- XPEKT LIMITED 2011-11-23 → 2018-11-29
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Affinia (Chelmsford)
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Accordingly, the Directors have adopted the going concern basis in preparing the annual financial statements.”
Significant events
- “On 8 July 2026, an operating lease and the related assets were transferred from Kingfisher UK Holdings Limited, the immediate parent entity.”
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 102 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-01-17 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-30 | AA | accounts | Accounts with accounts type full | |
| 2026-06-21 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 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 |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- Capital events
- 1
- Officers appointed
- 1
- Officers resigned
- 1
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.