BRACE UNDERWRITING LIMITED
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Cash
£1.5M
-42.7% lowest in 3 filed years
Net assets
£2.6M
-20.5% lowest in 3 filed years
Employees
—
Average over period
Profit before tax
-£305K
-117.9% lowest in 3 filed years
Net assets
3-year trend · vs Financials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £7,162,293 | £6,375,863 | £5,214,398 | -18.2% | |
| Operating profit | £3,442,803 | £1,264,993 | -£702,166 | -155.5% | |
| Profit before tax | £3,723,715 | £1,705,331 | -£304,588 | -117.9% | |
| Net profit | £2,824,842 | £1,301,739 | -£277,991 | -121.4% | |
| Cash | £5,143,237 | £2,585,651 | £1,481,577 | -42.7% | |
| Total assets less current liabilities | — | £3,227,772 | £2,566,398 | -20.5% | |
| Net assets | £3,863,087 | £3,227,772 | £2,566,398 | -20.5% | |
| Equity | £3,863,087 | £3,227,772 | £2,566,398 | -20.5% | |
| Average employees | — | — | — | — | |
| Wages | £1,704,578 | £2,140,828 | £2,490,592 | +16.3% | |
| Directors' remuneration | £301,446 | £254,408 | £167,997 | -34% |
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 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 48.1% | 19.8% | -13.5% | |
| Net margin | 39.4% | 20.4% | -5.3% | |
| Return on capital employed | — | 39.2% | -27.4% | |
| Gearing (liabilities / total assets) | 67.6% | 68.0% | 70.8% | |
| Current ratio | 1.48x | 1.47x | 1.41x |
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 2 times since incorporation
- BRACE UNDERWRITING LIMITED 2019-10-21 → present
- BRACE AGENCY LIMITED 2019-09-20 → 2019-10-21
- CRAFT SPECIALTY AGENCY LIMITED 2019-08-15 → 2019-09-20
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Company has adequate resources to continue trading for at least 12 months from the date of authorisation of these financial statements and the Directors intend for it to do so. Accordingly, they continue to adopt the going concern basis in preparing the Annual Report.”
Group structure
- BRACE UNDERWRITING LIMITED · parent
- Brace UK & Europe Underwriting Limited 50%
- Brace Underwriting Corporation 100%
- Brace Insurance Services LLC 77.5%
Significant events
- “On 6 March 2026, the Company issued 890 F Ordinary shares, all of these shares were issued to Directors of the company.”
- “On 6 March 2026, the Company further extended its facility agreement with Octave Specialty Limited to £2,000,000.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
10 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CHABE, Tamara | Secretary | 2025-08-01 | — | — |
| MARSDEN, Heather Elizabeth | Secretary | 2020-11-25 | — | — |
| NAHER, Shamsun | Secretary | 2023-02-22 | — | — |
| CAVANAGH, John Paul | Director | 2019-08-15 | Oct 1958 | British |
| COOMBE, Jason Louvet Turner | Director | 2026-02-03 | Jul 1986 | British |
| JOHNSTON, Hayley | Director | 2026-02-03 | Aug 1971 | British |
| KULLER, Albert Ulf Fredrik | Director | 2026-02-03 | Aug 1983 | Swedish |
| MARSDEN, Heather Elizabeth | Director | 2023-02-22 | Oct 1974 | American |
| RAYNER, Paul Michael | Director | 2019-08-15 | Jul 1978 | British |
| SAMBROOK, Thomas Huw | Director | 2026-02-03 | Sep 1988 | British |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BAKER, Katie Victoria | Secretary | 2019-08-15 | 2025-08-04 |
| RUGHANI, Shradha | Secretary | 2019-08-15 | 2023-01-26 |
| HOLBERRY, Adam Mark, Mr. | Director | 2020-02-10 | 2025-11-06 |
| RAWLINS, Charles, Mr. | Director | 2020-08-14 | 2022-02-10 |
| RUGHANI, Shradha | Director | 2019-08-15 | 2023-01-25 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Octave Specialty Limited | Corporate entity | Shares 50–75%, Voting 50–75%, Appoints directors | 2019-08-15 | Active |
Filing timeline
Last 20 of 76 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-14 RESOLUTIONS Resolution
- 2026-03-14 MA Memorandum articles
- 2025-05-16 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-24 | AA | accounts | Accounts with accounts type full | |
| 2026-03-17 | SH01 | capital | Capital allotment shares | |
| 2026-03-14 | RESOLUTIONS | resolution | Resolution | |
| 2026-03-14 | MA | incorporation | Memorandum articles | |
| 2026-02-04 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-04 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-04 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-04 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-21 | SH06 | capital | Capital cancellation shares | |
| 2026-01-21 | SH03 | capital | Capital return purchase own shares | |
| 2025-11-25 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-11-07 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-06 | AA | accounts | Accounts with accounts type full | |
| 2025-08-18 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-08-14 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-08-12 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-08-08 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-08-04 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-05-22 | SH01 | capital | Capital allotment shares | |
| 2025-05-16 | RESOLUTIONS | resolution | Resolution |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 18
- Capital events
- 4
- Officers appointed
- 5
- 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.