optio underwriting ltd
optio underwriting ltd Company Information
Company Number
09524616
Next Accounts
Sep 2025
Shareholders
cove program managers ltd
Group Structure
View All
Industry
Non-life insurance
Registered Address
10th floor, 1 minster court, mincing lane, london, EC3R 7AA
Website
coveprograms.comoptio underwriting ltd Estimated Valuation
Pomanda estimates the enterprise value of OPTIO UNDERWRITING LTD at £10.6m based on a Turnover of £13.8m and 0.77x industry multiple (adjusted for size and gross margin).
optio underwriting ltd Estimated Valuation
Pomanda estimates the enterprise value of OPTIO UNDERWRITING LTD at £13.6m based on an EBITDA of £1.6m and a 8.48x industry multiple (adjusted for size and gross margin).
optio underwriting ltd Estimated Valuation
Pomanda estimates the enterprise value of OPTIO UNDERWRITING LTD at £2.7m based on Net Assets of £1.6m and 1.64x industry multiple (adjusted for liquidity).
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Optio Underwriting Ltd Overview
Optio Underwriting Ltd is a live company located in london, EC3R 7AA with a Companies House number of 09524616. It operates in the non-life insurance sector, SIC Code 65120. Founded in April 2015, it's largest shareholder is cove program managers ltd with a 100% stake. Optio Underwriting Ltd is a established, mid sized company, Pomanda has estimated its turnover at £13.8m with high growth in recent years.
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Optio Underwriting Ltd Health Check
Pomanda's financial health check has awarded Optio Underwriting Ltd a 4 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 4 areas for improvement. Company Health Check FAQs
5 Strong
1 Regular
4 Weak
Size
annual sales of £13.8m, make it larger than the average company (£2.1m)
£13.8m - Optio Underwriting Ltd
£2.1m - Industry AVG
Growth
3 year (CAGR) sales growth of 23%, show it is growing at a faster rate (8.6%)
23% - Optio Underwriting Ltd
8.6% - Industry AVG
Production
with a gross margin of 100%, this company has a comparable cost of product (100%)
100% - Optio Underwriting Ltd
100% - Industry AVG
Profitability
an operating margin of 11.6% make it less profitable than the average company (17.5%)
11.6% - Optio Underwriting Ltd
17.5% - Industry AVG
Employees
with 10 employees, this is below the industry average (26)
10 - Optio Underwriting Ltd
26 - Industry AVG
Pay Structure
on an average salary of £339.5k, the company has a higher pay structure (£65.3k)
£339.5k - Optio Underwriting Ltd
£65.3k - Industry AVG
Efficiency
resulting in sales per employee of £1.4m, this is more efficient (£163.8k)
£1.4m - Optio Underwriting Ltd
£163.8k - Industry AVG
Debtor Days
it gets paid by customers after 97 days, this is earlier than average (216 days)
97 days - Optio Underwriting Ltd
216 days - Industry AVG
Creditor Days
There is insufficient data available for this Key Performance Indicator!
- - Optio Underwriting Ltd
- - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Optio Underwriting Ltd
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 32 weeks, this is more cash available to meet short term requirements (18 weeks)
32 weeks - Optio Underwriting Ltd
18 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 92.3%, this is a higher level of debt than the average (81.4%)
92.3% - Optio Underwriting Ltd
81.4% - Industry AVG
OPTIO UNDERWRITING LTD financials
Optio Underwriting Ltd's latest turnover from December 2023 is £13.8 million and the company has net assets of £1.6 million. According to their latest financial statements, Optio Underwriting Ltd has 10 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 | |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | 13,831,579 | 13,498,563 | 7,804,227 | 7,509,198 | 9,894,428 | 7,816,881 | |||
| Other Income Or Grants | |||||||||
| Cost Of Sales | |||||||||
| Gross Profit | 13,831,579 | 13,498,563 | 7,804,227 | 7,509,198 | 9,894,428 | 7,816,881 | |||
| Admin Expenses | 12,227,928 | 10,509,288 | 8,401,919 | 8,737,694 | 6,962,675 | 5,785,022 | |||
| Operating Profit | 1,603,651 | 2,989,275 | -597,692 | -1,228,496 | 2,931,753 | 2,031,859 | |||
| Interest Payable | 1,206 | 483 | |||||||
| Interest Receivable | 216,306 | 40,640 | 8,365 | 47,824 | |||||
| Pre-Tax Profit | 1,819,957 | 2,989,275 | -557,052 | -1,220,131 | 2,978,371 | 2,031,376 | |||
| Tax | -103,681 | 103,638 | 31,479 | -31,479 | -396,566 | ||||
| Profit After Tax | 1,819,957 | 2,885,594 | -453,414 | -1,188,652 | 2,946,892 | 1,634,810 | |||
| Dividends Paid | 2,252,000 | 1,250,000 | |||||||
| Retained Profit | 1,819,957 | 2,885,594 | -453,414 | -1,188,652 | 694,892 | 384,810 | |||
| Employee Costs | 3,394,560 | 1,564,943 | 1,551,009 | 1,624,893 | 1,345,071 | 1,122,770 | |||
| Number Of Employees | 10 | 10 | 11 | 12 | 9 | 7 | 6 | 6 | |
| EBITDA* | 1,603,651 | 2,989,275 | -597,692 | -1,228,496 | 2,931,753 | 2,031,859 |
* 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 | |
|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | |||||||||
| Intangible Assets | 855,000 | 997,500 | 1,140,000 | 1,282,500 | |||||
| Investments & Other | 204,942 | 1,425,000 | |||||||
| Debtors (Due After 1 year) | |||||||||
| Total Fixed Assets | 1,059,942 | 997,500 | 1,140,000 | 1,282,500 | 1,425,000 | ||||
| Stock & work in progress | |||||||||
| Trade Debtors | 3,696,491 | 2,963,760 | 2,824,590 | 1,689,250 | 2,227,729 | 1,127,652 | 2,501,418 | 711,113 | |
| Group Debtors | 940,627 | 3,667,853 | 1,619,000 | 1,639,125 | 54,125 | 54,920 | 357,633 | 9,480 | 1 |
| Misc Debtors | 3,196,001 | 2,037,391 | 266,318 | 236,424 | 71,651 | 25,768 | 55,109 | 305,898 | |
| Cash | 12,351,520 | 13,880,647 | 9,088,798 | 3,024,098 | 4,154,500 | 4,150,273 | 1,722,084 | 728,619 | |
| misc current assets | |||||||||
| total current assets | 20,184,639 | 22,549,651 | 13,798,706 | 6,588,897 | 6,508,005 | 5,358,613 | 4,636,244 | 1,755,110 | 1 |
| total assets | 21,244,581 | 23,547,151 | 14,938,706 | 7,871,397 | 7,933,005 | 5,358,613 | 4,636,244 | 1,755,110 | 1 |
| Bank overdraft | |||||||||
| Bank loan | |||||||||
| Trade Creditors | 11,107,269 | 12,390,991 | 7,744,900 | 2,503,481 | 2,591,457 | 1,496,680 | 1,139,006 | 835,233 | |
| Group/Directors Accounts | 3,358,332 | 5,447,217 | 4,955,210 | 2,848,972 | 1,470,790 | 402,371 | 204,199 | ||
| other short term finances | |||||||||
| hp & lease commitments | |||||||||
| other current liabilities | 5,138,326 | 888,246 | 303,493 | 130,427 | 293,589 | 580,011 | 811,916 | ||
| total current liabilities | 19,603,927 | 18,726,454 | 13,003,603 | 5,482,880 | 4,355,836 | 2,479,062 | 2,155,121 | 835,233 | |
| loans | |||||||||
| hp & lease commitments | |||||||||
| Accruals and Deferred Income | |||||||||
| other liabilities | |||||||||
| provisions | |||||||||
| total long term liabilities | |||||||||
| total liabilities | 19,603,927 | 18,726,454 | 13,003,603 | 5,482,880 | 4,355,836 | 2,479,062 | 2,155,121 | 835,233 | |
| net assets | 1,640,654 | 4,820,697 | 1,935,103 | 2,388,517 | 3,577,169 | 2,879,551 | 2,481,123 | 919,877 | 1 |
| total shareholders funds | 1,640,654 | 4,820,697 | 1,935,103 | 2,388,517 | 3,577,169 | 2,879,551 | 2,481,123 | 919,877 | 1 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||
| Operating Profit | 1,603,651 | 2,989,275 | -597,692 | -1,228,496 | 2,931,753 | 2,031,859 | |||
| Depreciation | |||||||||
| Amortisation | |||||||||
| Tax | -103,681 | 103,638 | 31,479 | -31,479 | -396,566 | ||||
| Stock | |||||||||
| Debtors | -835,885 | 3,959,096 | 1,145,109 | 1,211,294 | 1,145,165 | -1,705,820 | 1,887,669 | 1,026,490 | 1 |
| Creditors | -1,283,722 | 4,646,091 | 5,241,419 | -87,976 | 1,094,777 | 357,674 | 303,773 | 835,233 | |
| Accruals and Deferred Income | 4,250,080 | 584,753 | 173,066 | -163,162 | -286,422 | -231,905 | 811,916 | ||
| Deferred Taxes & Provisions | |||||||||
| Cash flow from operations | 5,405,894 | 4,157,342 | 3,775,322 | -2,659,449 | 2,563,464 | 3,466,882 | |||
| Investing Activities | |||||||||
| capital expenditure | |||||||||
| Change in Investments | 204,942 | -1,425,000 | 1,425,000 | ||||||
| cash flow from investments | |||||||||
| Financing Activities | |||||||||
| Bank loans | |||||||||
| Group/Directors Accounts | -2,088,885 | 492,007 | 2,106,238 | 1,378,182 | 1,068,419 | 198,172 | 204,199 | ||
| Other Short Term Loans | |||||||||
| Long term loans | |||||||||
| Hire Purchase and Lease Commitments | |||||||||
| other long term liabilities | |||||||||
| share issue | |||||||||
| interest | 216,306 | 40,640 | 8,365 | 46,618 | -483 | ||||
| cash flow from financing | -6,872,579 | 492,007 | 2,146,878 | 1,386,547 | 1,117,763 | 211,307 | |||
| cash and cash equivalents | |||||||||
| cash | -1,529,127 | 4,791,849 | 6,064,700 | -1,130,402 | 4,227 | 2,428,189 | 993,465 | 728,619 | |
| overdraft | |||||||||
| change in cash | -1,529,127 | 4,791,849 | 6,064,700 | -1,130,402 | 4,227 | 2,428,189 | 993,465 | 728,619 |
optio underwriting ltd Credit Report and Business Information
Optio Underwriting Ltd Competitor Analysis
Perform a competitor analysis for optio underwriting ltd by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other mid companies, companies in EC3R area or any other competitors across 12 key performance metrics.
optio underwriting ltd Ownership
OPTIO UNDERWRITING LTD group structure
Optio Underwriting Ltd has no subsidiary companies.
Ultimate parent company
SPRING MIDCO LTD
#0164169
2 parents
OPTIO UNDERWRITING LTD
09524616
optio underwriting ltd directors
Optio Underwriting Ltd currently has 4 directors. The longest serving directors include Mr Matthew Fosh (Aug 2022) and Mr Mark Mugge (Nov 2023).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Matthew Fosh | England | 67 years | Aug 2022 | - | Director |
| Mr Mark Mugge | 55 years | Nov 2023 | - | Director | |
| Mr Deepak Soni | United Kingdom | 44 years | Oct 2024 | - | Director |
| Mrs Insiyah Davenport | England | 49 years | Nov 2024 | - | Director |
P&L
December 2023turnover
13.8m
+2%
operating profit
1.6m
-46%
gross margin
100%
0%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
1.6m
-0.66%
total assets
21.2m
-0.1%
cash
12.4m
-0.11%
net assets
Total assets minus all liabilities
optio underwriting ltd company details
company number
09524616
Type
Private limited with Share Capital
industry
65120 - Non-life insurance
incorporation date
April 2015
age
10
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
December 2023
previous names
cove program underwriting ltd. (April 2020)
cove program uw limited (December 2015)
accountant
-
auditor
PKF LITTLEJOHN LLP
address
10th floor, 1 minster court, mincing lane, london, EC3R 7AA
Bank
THE ROYAL BANK OF SCOTLAND PLC
Legal Advisor
-
optio underwriting 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 6 charges/mortgages relating to optio underwriting ltd. Currently there are 5 open charges and 1 have been satisfied in the past.
optio underwriting ltd Capital Raised & Share Issues BETA
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.
Click to start generating capital raising & share issue transactions for OPTIO UNDERWRITING LTD. This can take several minutes, an email will notify you when this has completed.
optio underwriting ltd Companies House Filings - See Documents
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