westfield specialty managing agency ltd
westfield specialty managing agency ltd Company Information
Company Number
03768610
Website
www.argo-global.comRegistered Address
floor 36, 22 bishopsgate, london, EC2N 4BQ
Industry
Non-life insurance
Telephone
02077127600
Next Accounts Due
September 2025
Group Structure
View All
Shareholders
westfield specialty ltd 100%
westfield specialty managing agency ltd Estimated Valuation
Pomanda estimates the enterprise value of WESTFIELD SPECIALTY MANAGING AGENCY LTD at £2.1m based on a Turnover of £3.3m and 0.63x industry multiple (adjusted for size and gross margin).
westfield specialty managing agency ltd Estimated Valuation
Pomanda estimates the enterprise value of WESTFIELD SPECIALTY MANAGING AGENCY LTD at £0 based on an EBITDA of £-739.1k and a 9.19x industry multiple (adjusted for size and gross margin).
westfield specialty managing agency ltd Estimated Valuation
Pomanda estimates the enterprise value of WESTFIELD SPECIALTY MANAGING AGENCY LTD at £37.1m based on Net Assets of £25.1m and 1.48x industry multiple (adjusted for liquidity).
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Westfield Specialty Managing Agency Ltd Overview
Westfield Specialty Managing Agency Ltd is a live company located in london, EC2N 4BQ with a Companies House number of 03768610. It operates in the non-life insurance sector, SIC Code 65120. Founded in May 1999, it's largest shareholder is westfield specialty ltd with a 100% stake. Westfield Specialty Managing Agency Ltd is a mature, small sized company, Pomanda has estimated its turnover at £3.3m with declining growth in recent years.
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Westfield Specialty Managing Agency Ltd Health Check
Pomanda's financial health check has awarded Westfield Specialty Managing Agency Ltd a 3.5 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 4 areas for improvement. Company Health Check FAQs
3 Strong
2 Regular
4 Weak
Size
annual sales of £3.3m, make it larger than the average company (£2.6m)
£3.3m - Westfield Specialty Managing Agency Ltd
£2.6m - Industry AVG
Growth
3 year (CAGR) sales growth of -8%, show it is growing at a slower rate (8.1%)
-8% - Westfield Specialty Managing Agency Ltd
8.1% - Industry AVG
Production
with a gross margin of 99.4%, this company has a comparable cost of product (99.4%)
99.4% - Westfield Specialty Managing Agency Ltd
99.4% - Industry AVG
Profitability
an operating margin of -22.5% make it less profitable than the average company (18.5%)
-22.5% - Westfield Specialty Managing Agency Ltd
18.5% - Industry AVG
Employees
with 20 employees, this is below the industry average (35)
- Westfield Specialty Managing Agency Ltd
35 - Industry AVG
Pay Structure
on an average salary of £160.8k, the company has a higher pay structure (£66.5k)
- Westfield Specialty Managing Agency Ltd
£66.5k - Industry AVG
Efficiency
resulting in sales per employee of £164.3k, this is equally as efficient (£170.9k)
- Westfield Specialty Managing Agency Ltd
£170.9k - Industry AVG
Debtor Days
There is insufficient data available for this Key Performance Indicator!
- - Westfield Specialty Managing Agency Ltd
- - Industry AVG
Creditor Days
There is insufficient data available for this Key Performance Indicator!
- - Westfield Specialty Managing Agency Ltd
- - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Westfield Specialty Managing Agency Ltd
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 290 weeks, this is more cash available to meet short term requirements (18 weeks)
290 weeks - Westfield Specialty Managing Agency Ltd
18 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 11.6%, this is a lower level of debt than the average (82.3%)
11.6% - Westfield Specialty Managing Agency Ltd
82.3% - Industry AVG
WESTFIELD SPECIALTY MANAGING AGENCY LTD financials
Westfield Specialty Managing Agency Ltd's latest turnover from December 2023 is £3.3 million and the company has net assets of £25.1 million. According to their latest financial statements, we estimate that Westfield Specialty Managing Agency Ltd has 20 employees and maintains cash reserves of £12.4 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 3,285,500 | 3,996,600 | 4,266,400 | 4,180,400 | 4,637,300 | 3,616,000 | 2,349,800 | 2,790,800 | 2,841,500 | 2,894,700 | 2,289,100 | 2,099,800 | 2,050,700 | 1,684,000 | 1,603,000 |
| Other Income Or Grants | |||||||||||||||
| Cost Of Sales | |||||||||||||||
| Gross Profit | |||||||||||||||
| Admin Expenses | |||||||||||||||
| Operating Profit | -739,100 | 5,160,900 | -1,914,700 | 2,286,800 | 1,003,800 | 500,700 | -790,400 | 941,700 | 726,500 | 1,349,000 | -760,500 | ||||
| Interest Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Receivable | 0 | 0 | 0 | 0 | 1,800 | 0 | 0 | 12,400 | 24,200 | 37,800 | 600 | 3,000 | 42,800 | 19,000 | 10,200 |
| Pre-Tax Profit | 5,505,700 | 5,264,400 | -1,914,700 | 3,177,800 | 3,771,100 | 2,850,500 | 1,378,700 | 2,299,200 | 1,028,000 | 538,500 | -789,800 | 944,700 | 769,300 | 1,368,000 | -750,300 |
| Tax | 60,300 | -379,000 | 479,200 | -588,300 | -716,500 | -588,400 | -235,200 | -493,000 | -206,600 | -194,300 | 162,200 | -233,900 | -208,800 | -384,000 | 146,500 |
| Profit After Tax | 5,566,000 | 4,885,400 | -1,435,500 | 2,589,500 | 3,054,600 | 2,262,100 | 1,143,500 | 1,806,200 | 821,400 | 344,200 | -627,600 | 710,800 | 560,500 | 984,000 | -603,800 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Profit | 5,566,000 | 4,885,400 | -1,435,500 | 2,589,500 | 3,054,600 | 2,262,100 | 1,143,500 | 1,806,200 | 821,400 | 344,200 | -627,600 | 710,800 | 560,500 | 984,000 | -603,800 |
| Employee Costs | 3,216,600 | 2,359,800 | 5,402,400 | 465,200 | 616,600 | 741,000 | 327,200 | 1,463,500 | 2,067,500 | 2,843,400 | 970,600 | 989,100 | 161,000 | 1,954,800 | |
| Number Of Employees | 7 | 6 | |||||||||||||
| EBITDA* | -739,100 | 5,160,900 | -1,914,700 | 2,286,800 | 1,003,800 | 500,700 | -790,400 | 941,700 | 726,500 | 1,349,000 | -683,900 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments & Other | 514,400 | 514,400 | 514,400 | 514,400 | 514,400 | 514,400 | 476,800 | 500,700 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 |
| Debtors (Due After 1 year) | 481,600 | 481,500 | 481,500 | 2,300 | 2,500 | 3,100 | 3,800 | 81,400 | 6,600 | 8,000 | 8,000 | 11,300 | 12,300 | 15,000 | 334,200 |
| Total Fixed Assets | 996,000 | 995,900 | 995,900 | 516,700 | 516,900 | 517,500 | 480,600 | 582,100 | 106,600 | 108,000 | 108,000 | 111,300 | 112,300 | 115,000 | 434,200 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 0 | 0 | 0 | 940,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group Debtors | 14,414,700 | 7,304,400 | 8,045,900 | 36,741,700 | 13,745,900 | 49,716,400 | 12,642,700 | 9,630,000 | 3,040,500 | 1,275,700 | 430,300 | 8,378,200 | 6,118,600 | 645,000 | 238,900 |
| Misc Debtors | 660,400 | 1,771,400 | 3,674,500 | 0 | 66,395,500 | 0 | 0 | 0 | 155,200 | 1,002,500 | 320,700 | 0 | 63,400 | 6,000 | 1,859,100 |
| Cash | 12,362,200 | 13,182,800 | 7,212,900 | 533,800 | 437,200 | 85,800 | 234,600 | 1,310,200 | 5,449,800 | 5,644,000 | 6,554,500 | 1,000 | 1,000 | 5,078,000 | 2,412,600 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 27,437,300 | 22,258,600 | 18,933,300 | 38,215,900 | 80,578,600 | 49,802,200 | 12,877,300 | 10,940,200 | 8,645,500 | 7,922,200 | 7,305,500 | 8,379,200 | 6,182,000 | 5,729,000 | 4,510,600 |
| total assets | 28,433,300 | 23,254,500 | 19,929,200 | 38,732,600 | 81,095,500 | 50,319,700 | 13,357,900 | 11,522,300 | 8,752,100 | 8,030,200 | 7,413,500 | 8,490,500 | 6,294,300 | 5,844,000 | 4,944,800 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 0 | 39,200 | 1,719,600 | 17,912,500 | 62,901,200 | 35,384,400 | 1,507,200 | 1,951,700 | 1,400,100 | 1,499,600 | 1,227,100 | 937,300 | 288,700 | 50,000 | 233,500 |
| other short term finances | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 2,209,500 | 2,572,600 | 2,428,600 | 3,392,200 | 3,355,900 | 3,151,500 | 2,358,400 | 1,662,400 | 1,400,000 | 1,400,000 | 1,400,000 | 1,839,200 | 1,527,800 | 1,351,000 | 1,301,700 |
| total current liabilities | 2,209,500 | 2,611,800 | 4,148,200 | 21,304,700 | 66,257,100 | 38,535,900 | 3,865,600 | 3,614,100 | 2,800,100 | 2,899,600 | 2,627,100 | 2,776,500 | 1,816,500 | 1,401,000 | 1,535,200 |
| loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 300,000 | 300,000 | 300,000 | 300,000 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 1,100,000 | 1,084,900 | 1,108,600 | 1,320,000 | 1,320,000 | 1,320,000 | 1,290,600 | 850,000 | 700,000 | 700,000 | 700,000 | 0 | 700,000 | 700,000 | 650,700 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 700,000 | 0 | 0 | 0 |
| provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100 |
| total long term liabilities | 1,100,000 | 1,084,900 | 1,108,600 | 1,320,000 | 1,320,000 | 1,320,000 | 1,290,600 | 850,000 | 700,000 | 700,000 | 700,000 | 1,000,000 | 1,000,000 | 1,000,000 | 950,800 |
| total liabilities | 3,309,500 | 3,696,700 | 5,256,800 | 22,624,700 | 67,577,100 | 39,855,900 | 5,156,200 | 4,464,100 | 3,500,100 | 3,599,600 | 3,327,100 | 3,776,500 | 2,816,500 | 2,401,000 | 2,486,000 |
| net assets | 25,123,800 | 19,557,800 | 14,672,400 | 16,107,900 | 13,518,400 | 10,463,800 | 8,201,700 | 7,058,200 | 5,252,000 | 4,430,600 | 4,086,400 | 4,714,000 | 3,477,800 | 3,443,000 | 2,458,800 |
| total shareholders funds | 25,123,800 | 19,557,800 | 14,672,400 | 16,107,900 | 13,518,400 | 10,463,800 | 8,201,700 | 7,058,200 | 5,252,000 | 4,430,600 | 4,086,400 | 4,714,000 | 4,003,200 | 3,443,000 | 2,458,800 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Operating Profit | -739,100 | 5,160,900 | -1,914,700 | 2,286,800 | 1,003,800 | 500,700 | -790,400 | 941,700 | 726,500 | 1,349,000 | -760,500 | ||||
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 76,600 |
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tax | 60,300 | -379,000 | 479,200 | -588,300 | -716,500 | -588,400 | -235,200 | -493,000 | -206,600 | -194,300 | 162,200 | -233,900 | -208,800 | -384,000 | 146,500 |
| Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors | 5,999,400 | -2,644,600 | -25,482,500 | -42,459,500 | 30,424,400 | 37,073,000 | 2,935,100 | 6,509,100 | 916,100 | 1,527,200 | -7,630,500 | 2,195,200 | 5,528,300 | -1,766,200 | 2,432,200 |
| Creditors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | -348,000 | 120,300 | -1,175,000 | 36,300 | 204,400 | 822,500 | 1,136,600 | 412,400 | 0 | 0 | 260,800 | -388,600 | 176,800 | 98,600 | 1,952,400 |
| Deferred Taxes & Provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -100 | 100 |
| Cash flow from operations | -7,026,200 | 7,546,800 | 22,872,000 | -4,302,900 | -118,900 | -1,220,800 | 7,263,100 | -1,876,000 | -4,833,800 | 2,829,700 | -1,017,100 | ||||
| Investing Activities | |||||||||||||||
| capital expenditure | -37,600 | 23,900 | |||||||||||||
| Change in Investments | 0 | 0 | 0 | 0 | 0 | 37,600 | -23,900 | 400,700 | 0 | 0 | 0 | 0 | 0 | 0 | 100,000 |
| cash flow from investments | -75,200 | 47,800 | |||||||||||||
| Financing Activities | |||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | -39,200 | -1,680,400 | -16,192,900 | -44,988,700 | 27,516,800 | 33,877,200 | -444,500 | 551,600 | -99,500 | 272,500 | 289,800 | 648,600 | 238,700 | -183,500 | 233,500 |
| Other Short Term Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -300,000 | 0 | 0 | 0 | 300,000 |
| Hire Purchase and Lease Commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -700,000 | 700,000 | 0 | 0 | 0 |
| share issue | |||||||||||||||
| interest | 0 | 0 | 0 | 0 | 1,800 | 0 | 0 | 12,400 | 24,200 | 37,800 | 600 | 3,000 | 42,800 | 19,000 | 10,200 |
| cash flow from financing | -39,200 | -1,680,400 | -16,192,900 | -44,988,700 | 27,518,600 | 33,877,200 | -444,500 | 564,000 | -75,300 | 310,300 | -709,600 | 1,351,600 | 281,200 | -164,300 | 3,606,300 |
| cash and cash equivalents | |||||||||||||||
| cash | -820,600 | 5,969,900 | 6,679,100 | 96,600 | 351,400 | -148,800 | -1,075,600 | -4,139,600 | -194,200 | -910,500 | 6,553,500 | 0 | -5,077,000 | 2,665,400 | 2,412,600 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | -820,600 | 5,969,900 | 6,679,100 | 96,600 | 351,400 | -148,800 | -1,075,600 | -4,139,600 | -194,200 | -910,500 | 6,553,500 | 0 | -5,077,000 | 2,665,400 | 2,412,600 |
westfield specialty managing agency ltd Credit Report and Business Information
Westfield Specialty Managing Agency Ltd Competitor Analysis
Perform a competitor analysis for westfield specialty managing agency ltd by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other small companies, companies in EC2N area or any other competitors across 12 key performance metrics.
westfield specialty managing agency ltd Ownership
WESTFIELD SPECIALTY MANAGING AGENCY LTD group structure
Westfield Specialty Managing Agency Ltd has 1 subsidiary company.
Ultimate parent company
OHIO FARMERS INSURANCE CO
#0152450
2 parents
WESTFIELD SPECIALTY MANAGING AGENCY LTD
03768610
1 subsidiary
westfield specialty managing agency ltd directors
Westfield Specialty Managing Agency Ltd currently has 12 directors. The longest serving directors include Mr Darren Argyle (Mar 2012) and Mr Hans-Joachim Guenther (Feb 2020).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Darren Argyle | 51 years | Mar 2012 | - | Director | |
| Mr Hans-Joachim Guenther | England | 61 years | Feb 2020 | - | Director |
| Mr Hans-Joachim Guenther | England | 61 years | Feb 2020 | - | Director |
| Ms Joanne Fox | England | 60 years | May 2021 | - | Director |
| Mr Sanjiv Chandaria | England | 59 years | Nov 2021 | - | Director |
| Ms Dymphna Lehane | England | 61 years | Nov 2022 | - | Director |
| Mr Edward Largent | England | 60 years | Apr 2023 | - | Director |
| Mr Graham Evans | England | 57 years | May 2023 | - | Director |
| Ms Jiyan Zora | England | 46 years | Aug 2023 | - | Director |
| Mr John Kuhn | England | 60 years | Aug 2023 | - | Director |
P&L
December 2023turnover
3.3m
-18%
operating profit
-739.1k
-114%
gross margin
99.4%
+1.34%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
25.1m
+0.28%
total assets
28.4m
+0.22%
cash
12.4m
-0.06%
net assets
Total assets minus all liabilities
westfield specialty managing agency ltd company details
company number
03768610
Type
Private limited with Share Capital
industry
65120 - Non-life insurance
incorporation date
May 1999
age
25
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
December 2023
previous names
argo managing agency limited (February 2023)
argo managing agency limited (October 2009)
See moreaccountant
-
auditor
KPMG LLP
address
floor 36, 22 bishopsgate, london, EC2N 4BQ
Bank
BARCLAYS BANK PLC
Legal Advisor
REYNOLDS PORTER CHAMBERLAIN LLP
westfield specialty managing agency ltd Charges & Mortgages
A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.
We found 1 charges/mortgages relating to westfield specialty managing agency ltd. Currently there are 0 open charges and 1 have been satisfied in the past.
westfield specialty managing agency ltd Companies House Filings - See Documents
| date | description | view/download |
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