eridge underwriting agency ltd
eridge underwriting agency ltd Company Information
Company Number
09574780
Next Accounts
Jun 2025
Shareholders
kgm underwriting services limited
Group Structure
View All
Industry
Non-life insurance
Registered Address
2nd floor st james house, 27-43 eastern road, romford, essex, RM1 3NH
Website
eridgeunderwriting.comeridge underwriting agency ltd Estimated Valuation
Pomanda estimates the enterprise value of ERIDGE UNDERWRITING AGENCY LTD at £4.9m based on a Turnover of £7.7m and 0.64x industry multiple (adjusted for size and gross margin).
eridge underwriting agency ltd Estimated Valuation
Pomanda estimates the enterprise value of ERIDGE UNDERWRITING AGENCY LTD at £38.7m based on an EBITDA of £5.5m and a 7.01x industry multiple (adjusted for size and gross margin).
eridge underwriting agency ltd Estimated Valuation
Pomanda estimates the enterprise value of ERIDGE UNDERWRITING AGENCY LTD at £9.2m based on Net Assets of £5.6m and 1.64x industry multiple (adjusted for liquidity).
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Eridge Underwriting Agency Ltd Overview
Eridge Underwriting Agency Ltd is a live company located in romford, RM1 3NH with a Companies House number of 09574780. It operates in the non-life insurance sector, SIC Code 65120. Founded in May 2015, it's largest shareholder is kgm underwriting services limited with a 100% stake. Eridge Underwriting Agency Ltd is a established, mid sized company, Pomanda has estimated its turnover at £7.7m with high growth in recent years.
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Eridge Underwriting Agency Ltd Health Check
Pomanda's financial health check has awarded Eridge Underwriting Agency Ltd a 5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 1 areas for improvement. Company Health Check FAQs
5 Strong
3 Regular
1 Weak
Size
annual sales of £7.7m, make it larger than the average company (£2m)
£7.7m - Eridge Underwriting Agency Ltd
£2m - Industry AVG
Growth
3 year (CAGR) sales growth of 21%, show it is growing at a faster rate (7.1%)
- Eridge Underwriting Agency Ltd
7.1% - Industry AVG
Production
with a gross margin of 86.5%, this company has a comparable cost of product (100%)
86.5% - Eridge Underwriting Agency Ltd
100% - Industry AVG
Profitability
an operating margin of 71.3% make it more profitable than the average company (17.9%)
71.3% - Eridge Underwriting Agency Ltd
17.9% - Industry AVG
Employees
with 12 employees, this is below the industry average (25)
12 - Eridge Underwriting Agency Ltd
25 - Industry AVG
Pay Structure
on an average salary of £62.1k, the company has an equivalent pay structure (£62.1k)
- Eridge Underwriting Agency Ltd
£62.1k - Industry AVG
Efficiency
resulting in sales per employee of £644.8k, this is more efficient (£151k)
£644.8k - Eridge Underwriting Agency Ltd
£151k - Industry AVG
Debtor Days
There is insufficient data available for this Key Performance Indicator!
- - Eridge Underwriting Agency Ltd
- - Industry AVG
Creditor Days
There is insufficient data available for this Key Performance Indicator!
- - Eridge Underwriting Agency Ltd
- - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Eridge Underwriting Agency Ltd
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 29 weeks, this is more cash available to meet short term requirements (21 weeks)
29 weeks - Eridge Underwriting Agency Ltd
21 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 85.8%, this is a similar level of debt than the average (81.7%)
85.8% - Eridge Underwriting Agency Ltd
81.7% - Industry AVG
ERIDGE UNDERWRITING AGENCY LTD financials
Eridge Underwriting Agency Ltd's latest turnover from September 2023 is £7.7 million and the company has net assets of £5.6 million. According to their latest financial statements, Eridge Underwriting Agency Ltd has 12 employees and maintains cash reserves of £19.3 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Sep 2023 | Sep 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | 7,738,198 | 3,352,941 | 1,381,175 | ||||||
| Other Income Or Grants | |||||||||
| Cost Of Sales | 1,042,880 | 1,202,791 | 1,320,286 | ||||||
| Gross Profit | 6,695,318 | 2,150,150 | 60,889 | ||||||
| Admin Expenses | 1,175,526 | 1,415,648 | 979,460 | ||||||
| Operating Profit | 5,519,792 | 734,502 | -918,571 | ||||||
| Interest Payable | 2,481 | 195 | |||||||
| Interest Receivable | 53,798 | 3,831 | 166 | ||||||
| Pre-Tax Profit | 5,573,590 | 735,852 | -918,600 | ||||||
| Tax | -1,245,647 | -141,227 | 177,628 | ||||||
| Profit After Tax | 4,327,943 | 594,625 | -740,972 | ||||||
| Dividends Paid | |||||||||
| Retained Profit | 4,327,943 | 594,625 | -740,972 | ||||||
| Employee Costs | |||||||||
| Number Of Employees | 12 | 11 | 10 | 10 | 10 | 9 | 8 | 5 | |
| EBITDA* | 5,520,474 | 735,842 | -911,659 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Sep 2023 | Sep 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 2,557 | 3,239 | 2,324 | 8,524 | 20,123 | 54,083 | 156,566 | 215,132 | |
| Intangible Assets | 18,582 | 12,600 | |||||||
| Investments & Other | |||||||||
| Debtors (Due After 1 year) | |||||||||
| Total Fixed Assets | 21,139 | 15,839 | 2,324 | 8,524 | 20,123 | 54,083 | 156,566 | 215,132 | |
| Stock & work in progress | |||||||||
| Trade Debtors | 2,409,020 | 3,254,538 | 1,981,850 | 1,821,442 | 1,234,646 | 280,335 | 64 | ||
| Group Debtors | 4,325,343 | 250,000 | |||||||
| Misc Debtors | 15,810,475 | 3,879,974 | 181,879 | 16,882 | |||||
| Cash | 19,301,747 | 13,206,243 | 5,297,247 | 6,584,433 | 6,285,633 | 4,249,401 | 2,601,700 | 1,319,652 | 88 |
| misc current assets | |||||||||
| total current assets | 39,437,565 | 17,336,217 | 7,888,146 | 9,838,971 | 8,284,365 | 6,070,843 | 3,836,346 | 1,599,987 | 152 |
| total assets | 39,458,704 | 17,352,056 | 7,890,470 | 9,847,495 | 8,304,488 | 6,124,926 | 3,992,912 | 1,815,119 | 152 |
| Bank overdraft | |||||||||
| Bank loan | |||||||||
| Trade Creditors | 5,236,888 | 8,439,895 | 5,656,835 | 4,458,208 | 2,731,814 | 790,885 | 292 | ||
| Group/Directors Accounts | 512,250 | ||||||||
| other short term finances | |||||||||
| hp & lease commitments | |||||||||
| other current liabilities | 33,357,258 | 16,090,803 | 417,704 | 891,392 | |||||
| total current liabilities | 33,869,508 | 16,090,803 | 5,654,592 | 8,439,895 | 6,548,227 | 4,458,208 | 2,731,814 | 790,885 | 292 |
| loans | 1,120,000 | ||||||||
| hp & lease commitments | |||||||||
| Accruals and Deferred Income | 98,795 | ||||||||
| other liabilities | 1,569,250 | 1,231,491 | 687,491 | 750,000 | |||||
| provisions | 2,000 | 20,000 | 38,000 | ||||||
| total long term liabilities | 1,569,250 | 1,120,000 | 1,233,491 | 707,491 | 886,795 | ||||
| total liabilities | 33,869,508 | 16,090,803 | 7,223,842 | 8,439,895 | 7,668,227 | 5,691,699 | 3,439,305 | 1,677,680 | 292 |
| net assets | 5,589,196 | 1,261,253 | 666,628 | 1,407,600 | 636,261 | 433,227 | 553,607 | 137,439 | -140 |
| total shareholders funds | 5,589,196 | 1,261,253 | 666,628 | 1,407,600 | 636,261 | 433,227 | 553,607 | 137,439 | -140 |
| Sep 2023 | Sep 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||
| Operating Profit | 5,519,792 | 734,502 | -918,571 | ||||||
| Depreciation | 682 | 1,340 | 6,912 | 12,188 | 48,153 | 114,110 | 92,547 | 63,015 | |
| Amortisation | |||||||||
| Tax | -1,245,647 | -141,227 | 177,628 | ||||||
| Stock | |||||||||
| Debtors | 16,005,844 | 1,539,075 | -663,639 | 1,255,806 | 177,290 | 586,796 | 954,311 | 280,271 | 64 |
| Creditors | -5,236,888 | -3,203,007 | 2,783,060 | 1,198,627 | 1,726,394 | 1,940,929 | 790,593 | 292 | |
| Accruals and Deferred Income | 17,266,455 | 15,673,099 | 417,704 | -891,392 | 891,392 | -98,795 | 98,795 | ||
| Deferred Taxes & Provisions | -2,000 | -18,000 | -18,000 | 38,000 | |||||
| Cash flow from operations | 5,535,438 | 9,491,751 | -2,855,695 | ||||||
| Investing Activities | |||||||||
| capital expenditure | |||||||||
| Change in Investments | |||||||||
| cash flow from investments | |||||||||
| Financing Activities | |||||||||
| Bank loans | |||||||||
| Group/Directors Accounts | 512,250 | ||||||||
| Other Short Term Loans | |||||||||
| Long term loans | -1,120,000 | 1,120,000 | |||||||
| Hire Purchase and Lease Commitments | |||||||||
| other long term liabilities | -1,569,250 | 1,569,250 | -1,231,491 | 544,000 | -62,509 | 750,000 | |||
| share issue | |||||||||
| interest | 53,798 | 1,350 | -29 | ||||||
| cash flow from financing | 566,048 | -1,567,900 | 1,569,221 | ||||||
| cash and cash equivalents | |||||||||
| cash | 6,095,504 | 7,908,996 | -1,287,186 | 298,800 | 2,036,232 | 1,647,701 | 1,282,048 | 1,319,564 | 88 |
| overdraft | |||||||||
| change in cash | 6,095,504 | 7,908,996 | -1,287,186 | 298,800 | 2,036,232 | 1,647,701 | 1,282,048 | 1,319,564 | 88 |
eridge underwriting agency ltd Credit Report and Business Information
Eridge Underwriting Agency Ltd Competitor Analysis
Perform a competitor analysis for eridge underwriting agency ltd by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other mid companies, companies in RM1 area or any other competitors across 12 key performance metrics.
eridge underwriting agency ltd Ownership
ERIDGE UNDERWRITING AGENCY LTD group structure
Eridge Underwriting Agency Ltd has no subsidiary companies.
Ultimate parent company
2 parents
ERIDGE UNDERWRITING AGENCY LTD
09574780
eridge underwriting agency ltd directors
Eridge Underwriting Agency Ltd currently has 5 directors. The longest serving directors include Mr John Hamilton (May 2015) and Ms Julie Adams-Moore (Apr 2022).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr John Hamilton | United Kingdom | 60 years | May 2015 | - | Director |
| Ms Julie Adams-Moore | United Kingdom | 43 years | Apr 2022 | - | Director |
| Ms Julie Adams-Moore | United Kingdom | 43 years | Apr 2022 | - | Director |
| Mr Neil Manvell | United Kingdom | 59 years | Sep 2023 | - | Director |
| Mr Ciaran Astin | United Kingdom | 46 years | May 2024 | - | Director |
P&L
September 2023turnover
7.7m
+131%
operating profit
5.5m
+652%
gross margin
86.6%
+34.92%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
September 2023net assets
5.6m
+3.43%
total assets
39.5m
+1.27%
cash
19.3m
+0.46%
net assets
Total assets minus all liabilities
eridge underwriting agency ltd company details
company number
09574780
Type
Private limited with Share Capital
industry
65120 - Non-life insurance
incorporation date
May 2015
age
10
incorporated
UK
ultimate parent company
accounts
Total Exemption Full
last accounts submitted
September 2023
previous names
eridge administration services ltd (February 2016)
accountant
-
auditor
-
address
2nd floor st james house, 27-43 eastern road, romford, essex, RM1 3NH
Bank
-
Legal Advisor
-
eridge underwriting 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 3 charges/mortgages relating to eridge underwriting agency ltd. Currently there are 2 open charges and 1 have been satisfied in the past.
eridge underwriting agency 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 ERIDGE UNDERWRITING AGENCY LTD. This can take several minutes, an email will notify you when this has completed.
eridge underwriting agency ltd Companies House Filings - See Documents
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