How much does Coverys Mga (UK) Limited make?

Coverys Mga (UK) Limited reported revenue of £1.4m and £0 profit in the year to 31 Dec 2023, according to its accounts filed at Companies House.

How many employees does Coverys Mga (UK) Limited have?

Coverys Mga (UK) Limited reported an average of 0 employees in the year to 31 Dec 2023.

Is Coverys Mga (UK) Limited profitable?

Coverys Mga (UK) Limited reported break-even results (zero profit) in the year to 31 Dec 2023.

Company No. 12282267 · Incorporated 25 Oct 2019

Coverys Mga (UK) Limited

Registered name: COVERYS MGA (UK) LIMITED

Part of Coverys UK Holding Co. Limited group

Coverys Mga (UK) Limited made £1.4m revenue and £0 profit in the year to 31 Dec 2023.

Coverys Mga (UK) Limited’s revenue was £1.4m in the year to 31 Dec 2023, with £0 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: 7 yrs · since 2019
Type: Private Limited Company

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 team

Revenue

£1.4m

Growth —

Profit

£0

Growth —

Profit margin

Gross 100%

Employees

Change —

Profit / employee

—

Profitable streak

0yrs

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 to	31 Dec 2022	31 Dec 2023
Disclosure	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£0	£1.4m
Gross profit	£0	£1.4m
Operating profit	£0	£0
Profit before tax	£0	£0
Profit after tax	£0	£0
Profit (best available)	£0	£0
Employees (average)	0	0
Ratios
Profit margin	—	0%
Gross margin	—	100%
Balance sheet — indirect signals, not revenue
Cash at bank	£56k	£403k
Net assets	£56k	£130k
Current assets	£56k	£826k
Debtors	—	£32.5k
Source	FullAccounts · bulk data Sep 2024	FullAccounts · bulk data Sep 2024

Derived from the latest filing

How the business works

Profit margin: 0%; Profit ÷ revenue.
Gross margin: 100%; 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: —; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: —; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 2.4%; 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: ▲132%; Now £130k
Cash at bank: ▲620%; Now £403k
Headcount: —; Now 0
Deferred income: —; Now —
Fixed assets: —; Now —

Corporate ownership

Group structure

Ownership chain

Coverys UK Holding Co. Limitedultimate parent75–100%
Coverys Mga (UK) Limitedthis company

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

Sister companies (3)

Coverys European Holdings LimitedRev. £0 · Profit −£3.6m
Coverys LimitedFigures not disclosed
Coverys Services LimitedFigures not disclosed

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

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2023 (profit £0), from the Companies House accounts bulk data published Sep 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.