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Company No. 04692971 · Incorporated 11 Mar 2003

GB Underwriting Ltd

Registered name: GB UNDERWRITING LTD

Part of Sparta UK Midco 1 Limited group

GB Underwriting Ltd made £2.1m revenue and £664k profit in the year to 31 Dec 2023.

GB Underwriting Ltd’s revenue grew 56% to £2.1m in the year to 31 Dec 2023, with £664k profit and 0 employees. The company is classified under “activities of insurance agents and brokers” and is based in London; we hold 2 years of its filed accounts.

Full P&L filedSection K · Financial and insurance activitiesSIC 66220Activities of insurance agents and brokers
Status
Active
Location
London, London
Age
23 yrs · since 2003
Type
Private Limited Company

Pass-through vehicle. This looks like a holding, staffing or umbrella company. Its revenue and profit may largely pass through to or from other entities, so the figures may not reflect a standalone operating business. It is excluded from our opportunity lists.

Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.

Latest accounts · year to 31 Dec 2023

Key figures

Small teamCapital-lightOperating leverage
Revenue
£2.1m
Growth ▲56.2%
Profit
£664k
Growth ▲324.3%
Profit margin
31.1%
 
Employees
0
Change —
Profit / employee
—
 
Profitable streak
2yrs
Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

2 filed years

Financial history

Multi-year financials, oldest to newest
Year to31 Dec 202231 Dec 2023
DisclosureFull P&LFull P&L
Profit & loss
Revenue (turnover)£1.4m£2.1m
Operating profit£155k£664k
Profit before tax£156k£664k
Profit after tax£156k£664k
Profit (best available)£156k£664k
Employees (average)00
Ratios
Profit margin11.4%31.1%
Growth (year on year)
Revenue growth—▲56.2%
Profit growth—▲324.3%
Balance sheet — indirect signals, not revenue
Cash at bank£907k£1.6m
Net assets£1.2m£1.9m
Fixed assets£92.5k£41.8k
Current assets£2.6m£5.6m
Debtors£937k£2.4m
SourceFullAccounts · bulk data May 2024FullAccounts · bulk data May 2024
Derived from the latest filing

How the business works

Profit margin
31.1%
Profit ÷ revenue.
Gross margin
—
Gross profit ÷ revenue. High for software and services.
Revenue per employee
—
Revenue ÷ average employees.
Profit per employee
—
Profit ÷ average employees.
Cash conversion
—
Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue
2%
Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue
—
Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue
112%
Money owed by customers. Low = customers pay quickly.
Indirect — not revenue

Balance-sheet signals

Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.

Net assets
▲56%
Now £1.9m
Cash at bank
▲80%
Now £1.6m
Headcount
—
Now 0
Deferred income
—
Now —
Fixed assets
▼55%
Now £41.8k
Corporate ownership

Group structure

Ownership chain

  1. Sparta UK Midco 1 Limitedultimate parent75–100%
  2. Sparta UK Midco 2 Limited75–100%
  3. Sparta UK Bidco Limited75–100%
  4. Specialist Risk Investments Limited75–100%
  5. Specialist Risk Midco Limited75–100%
  6. Specialist Risk Group Limited75–100%
  7. GB Underwriting Ltdthis company

Bands show the share of ownership each company holds in the one below it.

Subsidiaries (3)

Sister companies (9)

From the Persons with Significant Control register (corporate controllers only).

Same industry, similar size

Similar profitable businesses

Industry benchmarks →

Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2023 (profit £664k), from the Companies House accounts bulk data published May 2024. Spotted an error? Request a correction.

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.