Starstone Insurance Plc

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starstone insurance plc Company Information

Converted/Closed

EstablishedMidDeclining

Company Number

06447250

Next Accounts

2744 days late

Industry

Non-life insurance

Directors

Tim Fillingham

David Message

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Shareholders

torus insurance (bermuda) limited

starstone finance limited

Group Structure

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Contact

Registered Address

5th floor 88 leadenhall street, london, EC3A 3BP

Website

torus.com

starstone insurance plc Estimated Valuation

£206.3m

Pomanda estimates the enterprise value of STARSTONE INSURANCE PLC at £206.3m based on Net Assets of £121.3m and 1.7x industry multiple (adjusted for liquidity).

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Starstone Insurance Plc is a converted/closed company that was located in london, EC3A 3BP with a Companies House number of 06447250. It operated in the non-life insurance sector, SIC Code 65120. Founded in December 2007, it's largest shareholder was torus insurance (bermuda) limited with a 66.7% stake. The last turnover for Starstone Insurance Plc was estimated at £16.9m.

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Pomanda's financial health check has awarded Starstone Insurance Plc a 4 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 3 areas for improvement. Company Health Check FAQs

Health Rating4out of 5

4 Strong

3 Regular

3 Weak

Size

annual sales of £16.9m, make it larger than the average company (£1.3m)

Growth

3 year (CAGR) sales growth of -34%, show it is growing at a slower rate (2.1%)

EXPORT

Starstone Insurance Plc's latest turnover from December 2015 is £16.9 million and the company has net assets of £121.3 million. According to their latest financial statements, we estimate that Starstone Insurance Plc has 119 employees and maintains cash reserves of £11.6 million as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Turnover	16,899,288	3,284,072	39,848,710	60,083,723	60,069,030	33,004,141	10,355,750
Other Income Or Grants	0	0	0	0	0	0	0
Cost Of Sales	1,619,643	564,422	8,985,837	14,850,023	15,857,116	9,431,766	0
Gross Profit	15,279,646	2,719,651	30,862,873	45,233,701	44,211,914	23,572,375	0
Admin Expenses	7,659,743	-3,540,149	36,279,649	46,458,014	63,842,058	39,884,257	8,850,207
Operating Profit	7,619,903	6,259,800	-5,416,776	-1,224,313	-19,630,144	-16,311,882	-8,850,207
Interest Payable	113,403	222,414	272,863	200,955	107,340	12,424	0
Interest Receivable	105,022	198,194	218,884	194,044	156,971	77,094	17,361
Pre-Tax Profit	6,089,217	4,926,108	-5,470,755	-1,231,224	-19,580,512	-17,585,218	-6,822,612
Tax	0	0	0	0	0	1,338,006	-2,010,234
Profit After Tax	6,089,217	4,926,108	-5,470,755	-1,231,224	-19,580,512	-16,247,212	-8,832,846
Dividends Paid	0	0	0	0	0	0	0
Retained Profit	6,089,217	4,926,108	-5,470,755	-1,231,224	-19,580,512	-16,247,212	-8,832,846
Employee Costs	0	0	0	184,684	862,870	318,573	0
Number Of Employees	119	23	280	4	4	248	0
EBITDA*	7,619,903	6,259,800	-5,416,776	-1,224,313	-19,630,144	-16,311,882	-8,850,207

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Tangible Assets	410,714,286	403,872,469	522,220,721	564,639,251	521,969,999	335,457,152	179,093,567
Intangible Assets	0	0	0	0	0	0	0
Investments & Other	0	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0
Total Fixed Assets	410,714,286	403,872,469	522,220,721	564,639,251	521,969,999	335,457,152	179,093,567
Stock & work in progress	0	0	0	0	0	0	0
Trade Debtors	65,818,281	59,729,064	89,963,528	81,876,385	86,552,502	80,344,059	34,539,474
Group Debtors	0	0	0	0	0	0	0
Misc Debtors	0	0	0	0	0	0	0
Cash	11,562,671	30,446,086	48,831,555	38,721,990	38,895,526	23,892,960	6,944,444
misc current assets	752,600	547,345	878,022	1,108,101	929,245	1,083,147	1,096,491
total current assets	78,886,152	104,748,221	144,198,298	121,891,160	131,156,246	117,362,217	46,296,296
total assets	489,600,438	508,620,690	666,419,019	686,530,411	653,126,245	452,819,369	225,389,864
Bank overdraft	0	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0
Trade Creditors	21,072,797	23,741,106	104,889,909	134,819,010	152,528,873	105,256,451	31,493,665
Group/Directors Accounts	0	0	0	0	0	0	0
other short term finances	1,778,872	1,710,454	5,133,054	3,262,743	2,920,483	382,287	0
hp & lease commitments	0	0	0	0	0	0	0
other current liabilities	0	0	0	0	0	0	0
total current liabilities	45,634,921	50,697,865	133,662,029	155,318,887	173,105,005	113,475,629	31,980,994
loans	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0
provisions	0	0	0	0	0	0	0
total long term liabilities	322,660,099	342,706,623	423,882,210	426,988,426	392,871,366	243,262,185	86,013,645
total liabilities	368,295,019	393,404,488	557,544,239	582,307,313	565,976,371	356,737,815	117,994,639
net assets	121,305,419	115,216,201	108,874,780	104,223,098	87,149,874	96,081,555	107,395,224
total shareholders funds	121,305,419	115,216,201	108,874,780	104,223,098	87,149,874	96,081,555	107,395,224

	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Operating Activities
Operating Profit	7,619,903	6,259,800	-5,416,776	-1,224,313	-19,630,144	-16,311,882	-8,850,207
Depreciation	0	0	0	0	0	0	0
Amortisation	0	0	0	0	0	0	0
Tax	0	0	0	0	0	1,338,006	-2,010,234
Stock	0	0	0	0	0	0	0
Debtors	6,089,217	-30,234,464	8,087,143	-4,676,117	6,208,444	45,804,585	34,539,474
Creditors	-2,668,309	-81,148,804	-29,929,101	-17,709,863	47,272,422	73,762,786	31,493,665
Accruals and Deferred Income	0	0	0	0	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	0	0
Cash flow from operations	-1,137,623	-44,654,540	-43,433,020	-14,258,059	21,433,834	12,984,325	-13,906,250
Investing Activities
capital expenditure	-6,841,817	118,348,253	42,418,530	-42,669,253	-186,512,847	-156,363,585	-179,093,567
Change in Investments	0	0	0	0	0	0	0
cash flow from investments	-6,841,817	118,348,253	42,418,530	-42,669,253	-186,512,847	-156,363,585	-179,093,567
Financing Activities
Bank loans	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	0	0	0	0	0
Other Short Term Loans	68,418	-3,422,600	1,870,311	342,260	2,538,196	382,287	0
Long term loans	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0
other long term liabilities	0	0	0	0	0	0	0
share issue	0	1,415,313	10,122,438	18,304,448	10,648,831	4,933,542	116,228,070
interest	-8,381	-24,220	-53,979	-6,911	49,631	64,670	17,361
cash flow from financing	60,037	-2,031,507	11,938,770	18,639,797	13,236,658	5,380,499	116,245,431
cash and cash equivalents
cash	-18,883,415	-18,385,468	10,109,565	-173,537	15,002,567	16,948,515	6,944,444
overdraft	0	0	0	0	0	0	0
change in cash	-18,883,415	-18,385,468	10,109,565	-173,537	15,002,567	16,948,515	6,944,444

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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Perform a competitor analysis for starstone insurance plc by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other mid companies, companies in EC3A area or any other competitors across 12 key performance metrics.

STARSTONE INSURANCE PLC group structure

Starstone Insurance Plc has no subsidiary companies.

Ultimate parent company

STARSTONE INSURANCE PLC

06447250

STARSTONE INSURANCE PLC Shareholders

torus insurance (bermuda) limited	66.67%
starstone finance limited	33.33%

Starstone Insurance Plc currently has 9 directors. The longest serving directors include Mr Tim Fillingham (Nov 2011) and Mr David Message (Nov 2013).

officer	country	age	start	end	role
Mr Tim Fillingham		63 years	Nov 2011	-	Director
Mr David Message	United Kingdom	55 years	Nov 2013	-	Director
Mr Patrick Tiernan		50 years	Aug 2014	-	Director
Mr Demian Smith	United Kingdom	53 years	Aug 2014	-	Director
Mr Theo Wilkes		49 years	Aug 2014	-	Director
Mr John Wardrop		61 years	Jan 2015	-	Director
Mr Ian Poynton	United Kingdom	59 years	Jan 2015	-	Director
Mr Mark Smith	United Kingdom	72 years	Jan 2016	-	Director
Mr Michael Handler	Switzerland	77 years	Jun 2016	-	Director

P&L

December 2015

turnover

16.9m

+415%

operating profit

7.6m

gross margin

90.5%

+9.18%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

December 2015

net assets

121.3m

+0.05%

total assets

489.6m

-0.04%

cash

11.6m

-0.62%

net assets

Total assets minus all liabilities

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company number

06447250

Type

Public limited with Share Capital

industry

65120 - Non-life insurance

incorporation date

December 2007

ultimate parent company

None

previous names

starstone insurance limited (April 2016)

torus insurance (uk) limited (November 2015)

address

5th floor 88 leadenhall street, london, EC3A 3BP

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 did not find charges/mortgages relating to starstone insurance plc.

When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.

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starstone insurance plc Company Information

starstone insurance plc Estimated Valuation

starstone insurance plc Estimated Valuation

starstone insurance plc Estimated Valuation

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