How much does Somers Syndicate Services Limited make?

Somers Syndicate Services Limited reported revenue of £139k and a loss of £3.7m in the year to 31 Dec 2024, according to its accounts filed at Companies House.

How many employees does Somers Syndicate Services Limited have?

Somers Syndicate Services Limited reported an average of 13 employees in the year to 31 Dec 2024.

Is Somers Syndicate Services Limited profitable?

No — Somers Syndicate Services Limited reported a loss of £3.7m in the year to 31 Dec 2024.

Company No. 14981899 · Incorporated 5 Jul 2023

Somers Syndicate Services Limited

Registered name: SOMERS SYNDICATE SERVICES LIMITED

Part of Watford Holdings (UK) Limited group

Somers Syndicate Services Limited made £139k revenue and a £3.7m loss in the year to 31 Dec 2024.

Somers Syndicate Services Limited’s revenue was £139k in the year to 31 Dec 2024, with a loss of £3.7m and 13 employees. The company is classified under “other activities auxiliary to insurance and pension funding” and is based in London.

Full P&L filedSection K · Financial and insurance activitiesSIC 66290Other activities auxiliary to insurance and pension funding

Status: Active
Location: London, London
Age: 3 yrs · since 2023
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 2024

Key figures

Revenue

£139k

Growth —

Profit

−£3.7m

Growth —

Profit margin

−2679%

Gross 100%

Employees

Change —

Profit / employee

−£285k

Revenue/employee £10.7k

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.

1 filed year

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2024
Disclosure	Full P&L
Profit & loss
Revenue (turnover)	£139k
Cost of sales	£0
Gross profit	£139k
Operating profit	−£5m
Profit before tax	−£4.9m
Profit after tax	−£3.7m
Profit (best available)	−£3.7m
Employees (average)	13
Ratios
Profit margin	−2679%
Gross margin	100%
Revenue per employee	£10.7k
Profit per employee	−£285k
Balance sheet — indirect signals, not revenue
Cash at bank	£56.5k
Net assets	−£3.7m
Fixed assets	£900k
Current assets	£2m
Debtors	£166k
Deferred income	£0
Source	FullAccounts · bulk data Apr 2025

Derived from the latest filing

How the business works

Profit margin: −2679%; Profit ÷ revenue.
Gross margin: 100%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £10.7k; Revenue ÷ average employees.
Profit per employee: −£285k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 649.8%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 0%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 120%; 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: —; Now −£3.7m
Cash at bank: —; Now £56.5k
Headcount: —; Now 13
Deferred income: —; Now £0
Fixed assets: —; Now £900k

Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.

Corporate ownership

Group structure

Ownership chain

Watford Holdings (UK) Limitedultimate parent75–100%
Somers Syndicate Management Holdings Limited75–100%
Somers Syndicate Services Limitedthis company

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

Sister companies (1)

Somers Syndicate Management LimitedRev. £200k · Profit £56.6k

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 2024 (profit −£3.7m), from the Companies House accounts bulk data published Apr 2025. 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.