brace underwriting limited
brace underwriting limited Company Information
Company Number
12157605
Next Accounts
Sep 2025
Industry
Activities of insurance agents and brokers
Shareholders
beat capital partners limited
adam holberry
View AllGroup Structure
View All
Contact
Registered Address
5th floor 6 bevis marks, london, EC3A 7BA
Website
braceuw.combrace underwriting limited Estimated Valuation
Pomanda estimates the enterprise value of BRACE UNDERWRITING LIMITED at £9.2m based on a Turnover of £7.2m and 1.28x industry multiple (adjusted for size and gross margin).
brace underwriting limited Estimated Valuation
Pomanda estimates the enterprise value of BRACE UNDERWRITING LIMITED at £26.3m based on an EBITDA of £3.4m and a 7.64x industry multiple (adjusted for size and gross margin).
brace underwriting limited Estimated Valuation
Pomanda estimates the enterprise value of BRACE UNDERWRITING LIMITED at £7.1m based on Net Assets of £3.9m and 1.83x industry multiple (adjusted for liquidity).
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Brace Underwriting Limited Overview
Brace Underwriting Limited is a live company located in london, EC3A 7BA with a Companies House number of 12157605. It operates in the activities of insurance agents and brokers sector, SIC Code 66220. Founded in August 2019, it's largest shareholder is beat capital partners limited with a 65.7% stake. Brace Underwriting Limited is a young, mid sized company, Pomanda has estimated its turnover at £7.2m with rapid growth in recent years.
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Brace Underwriting Limited Health Check
Pomanda's financial health check has awarded Brace Underwriting Limited a 4.5 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 £7.2m, make it larger than the average company (£3.1m)
£7.2m - Brace Underwriting Limited
£3.1m - Industry AVG
Growth
3 year (CAGR) sales growth of 100%, show it is growing at a faster rate (6.9%)
100% - Brace Underwriting Limited
6.9% - Industry AVG
Production
with a gross margin of 95.3%, this company has a comparable cost of product (95.3%)
95.3% - Brace Underwriting Limited
95.3% - Industry AVG
Profitability
an operating margin of 48.1% make it more profitable than the average company (18.6%)
48.1% - Brace Underwriting Limited
18.6% - Industry AVG
Employees
with 57 employees, this is above the industry average (19)
- Brace Underwriting Limited
19 - Industry AVG
Pay Structure
on an average salary of £36.9k, the company has a lower pay structure (£53.5k)
- Brace Underwriting Limited
£53.5k - Industry AVG
Efficiency
resulting in sales per employee of £125.7k, this is equally as efficient (£126.6k)
- Brace Underwriting Limited
£126.6k - Industry AVG
Debtor Days
There is insufficient data available for this Key Performance Indicator!
- - Brace Underwriting Limited
- - Industry AVG
Creditor Days
There is insufficient data available for this Key Performance Indicator!
- - Brace Underwriting Limited
- - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Brace Underwriting Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 33 weeks, this is average cash available to meet short term requirements (33 weeks)
33 weeks - Brace Underwriting Limited
33 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 67.6%, this is a higher level of debt than the average (58%)
67.6% - Brace Underwriting Limited
58% - Industry AVG
BRACE UNDERWRITING LIMITED financials
Brace Underwriting Limited's latest turnover from December 2023 is £7.2 million and the company has net assets of £3.9 million. According to their latest financial statements, we estimate that Brace Underwriting Limited has 57 employees and maintains cash reserves of £5.1 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | |
|---|---|---|---|---|
| Turnover | 7,162,293 | 6,538,561 | 3,631,268 | 894,814 |
| Other Income Or Grants | ||||
| Cost Of Sales | ||||
| Gross Profit | ||||
| Admin Expenses | ||||
| Operating Profit | 3,442,803 | 2,627,630 | 1,322,362 | |
| Interest Payable | 0 | 0 | 0 | 8,867 |
| Interest Receivable | 280,912 | 2,549 | 0 | 0 |
| Pre-Tax Profit | 3,723,715 | 2,630,179 | 1,322,362 | -476,593 |
| Tax | -898,873 | -522,081 | -168,136 | 0 |
| Profit After Tax | 2,824,842 | 2,108,098 | 1,154,226 | -476,593 |
| Dividends Paid | 1,250,000 | 600,000 | 0 | 0 |
| Retained Profit | 1,574,842 | 1,508,098 | 1,154,226 | -476,593 |
| Employee Costs | 2,103,072 | 1,956,004 | 1,453,672 | 768,451 |
| Number Of Employees | ||||
| EBITDA* | 3,442,803 | 2,627,630 | 1,322,362 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | |
|---|---|---|---|---|
| Tangible Assets | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 |
| Investments & Other | 500 | 500 | 500 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 500 | 500 | 500 | 0 |
| Stock & work in progress | 0 | 0 | 0 | 0 |
| Trade Debtors | 0 | 0 | 0 | 0 |
| Group Debtors | 2,172,511 | 245,031 | 115,795 | 70,486 |
| Misc Debtors | 4,606,577 | 3,292,252 | 2,389,057 | 643,823 |
| Cash | 5,143,237 | 6,415,086 | 3,400,857 | 348,592 |
| misc current assets | 0 | 0 | 23,828 | 123,442 |
| total current assets | 11,922,325 | 9,952,369 | 5,929,537 | 1,186,343 |
| total assets | 11,922,825 | 9,952,869 | 5,930,037 | 1,186,343 |
| Bank overdraft | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 |
| Trade Creditors | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 0 | 0 | 21,300 | 46,000 |
| other short term finances | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 |
| other current liabilities | 8,059,738 | 7,664,624 | 5,218,454 | 1,611,936 |
| total current liabilities | 8,059,738 | 7,664,624 | 5,239,754 | 1,657,936 |
| loans | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 |
| other liabilities | 0 | 0 | 0 | 0 |
| provisions | 0 | 0 | 0 | 0 |
| total long term liabilities | 0 | 0 | 0 | 0 |
| total liabilities | 8,059,738 | 7,664,624 | 5,239,754 | 1,657,936 |
| net assets | 3,863,087 | 2,288,245 | 690,283 | -471,593 |
| total shareholders funds | 3,863,087 | 2,288,245 | 690,283 | -471,593 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | |
|---|---|---|---|---|
| Operating Activities | ||||
| Operating Profit | 3,442,803 | 2,627,630 | 1,322,362 | |
| Depreciation | 0 | 0 | 0 | 0 |
| Amortisation | 0 | 0 | 0 | 0 |
| Tax | -898,873 | -522,081 | -168,136 | 0 |
| Stock | 0 | 0 | 0 | 0 |
| Debtors | 3,241,805 | 1,032,431 | 1,790,543 | 714,309 |
| Creditors | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 395,114 | 2,446,170 | 3,606,518 | 1,611,936 |
| Deferred Taxes & Provisions | 0 | 0 | 0 | 0 |
| Cash flow from operations | -302,761 | 3,519,288 | 2,970,201 | |
| Investing Activities | ||||
| capital expenditure | ||||
| Change in Investments | 0 | 0 | 500 | 0 |
| cash flow from investments | ||||
| Financing Activities | ||||
| Bank loans | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 0 | -21,300 | -24,700 | 46,000 |
| Other Short Term Loans | 0 | 0 | 0 | 0 |
| Long term loans | 0 | 0 | 0 | 0 |
| Hire Purchase and Lease Commitments | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | 0 | 0 | 0 |
| share issue | ||||
| interest | 280,912 | 2,549 | 0 | -8,867 |
| cash flow from financing | 280,912 | 71,113 | -17,050 | 42,133 |
| cash and cash equivalents | ||||
| cash | -1,271,849 | 3,014,229 | 3,052,265 | 348,592 |
| overdraft | 0 | 0 | 0 | 0 |
| change in cash | -1,271,849 | 3,014,229 | 3,052,265 | 348,592 |
brace underwriting limited Credit Report and Business Information
Brace Underwriting Limited Competitor Analysis
Perform a competitor analysis for brace underwriting limited 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.
brace underwriting limited Ownership
BRACE UNDERWRITING LIMITED group structure
Brace Underwriting Limited has no subsidiary companies.
Ultimate parent company
BRACE UNDERWRITING LIMITED
12157605
brace underwriting limited directors
Brace Underwriting Limited currently has 5 directors. The longest serving directors include Mr John Cavanagh (Aug 2019) and Mr Paul Rayner (Aug 2019).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr John Cavanagh | England | 66 years | Aug 2019 | - | Director |
| Mr Paul Rayner | England | 46 years | Aug 2019 | - | Director |
| Mr John Cavanagh | England | 66 years | Aug 2019 | - | Director |
| Mr Adam Holberry | England | 39 years | Feb 2020 | - | Director |
| Ms Heather Marsden | England | 50 years | Feb 2023 | - | Director |
P&L
December 2023turnover
7.2m
+10%
operating profit
3.4m
+31%
gross margin
95.4%
+0.75%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
3.9m
+0.69%
total assets
11.9m
+0.2%
cash
5.1m
-0.2%
net assets
Total assets minus all liabilities
brace underwriting limited company details
company number
12157605
Type
Private limited with Share Capital
industry
66220 - Activities of insurance agents and brokers
incorporation date
August 2019
age
5
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
December 2023
previous names
brace agency limited (October 2019)
craft specialty agency limited (September 2019)
accountant
-
auditor
ERNST & YOUNG LLP
address
5th floor 6 bevis marks, london, EC3A 7BA
Bank
BARCLAYS BANK PLC
Legal Advisor
RPC
brace underwriting limited 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 did not find charges/mortgages relating to brace underwriting limited.
brace underwriting limited 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.
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brace underwriting limited Companies House Filings - See Documents
| date | description | view/download |
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