Source Insurance Limited in Cardiff, CF11 0SN

Description

Data updated on: 01-11-2023

Source Insurance Limited is categorised as Private Limited Company, that is based in Global Reach, Dunleavy Drive in Cardiff. The main office's located in CF11 0SN. This business has been prospering 31 years on the British market. The firm's reg. no. is 02864963. It 's been five years from the moment The company's registered name is Source Insurance Limited, but until 2019 the business name was Red Apple Group and up to that point, up till Wednesday 20th September 2017 this company was known as Source Insurance. This means it has used seven different names. This company's registered with SIC code 66220: Activities of insurance agents and brokers. 2022-12-31 is the last time account status updates were filed.

The corporation's trademark number is UK00003174881. They filed a trademark application on 2016-07-15 and their IPO accepted it three months later. The trademark will no longer be valid after 2026-07-15.

Regarding to the limited company, many of director's obligations have been carried out by Malcolm G., Jonathan P. and Andrew M.. When it comes to these three individuals, Andrew M. has been with the limited company for the longest period of time, having been a member of directors' team since 1993.

Previous company's names
Source Insurance Limited 2019-07-30
Red Apple Group Limited 2017-09-20
Source Insurance Limited 2012-02-03
Source Software Limited 2002-12-03
Sentinel Uk Limited 1997-06-04
Trustguard Policyline Limited 1995-08-15
Trustguard Marketing Limited 1993-10-22

Trade marks

Trademark UK00003174881

Trademark UK00003174881

Trademark image:	-
Status:	Registered
Filing date:	2016-07-15
Date of entry in register:	2016-10-14
Renewal date:	2026-07-15
Owner name:	Source Insurance Ltd
Owner address:	Source Insurance Ltd, Drake House, Plymouth Road, PENARTH, United Kingdom, CF64 3TP

Financial data based on annual reports

Profit & Loss
Date of Accounts	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31
Currency

Balance Sheet
Cash Bank On Hand	2 387 815	3 049 562	2 996 240	1 873 535	1 407 998	1 184 360	1 514 737	2 709 231
Current Assets	4 228 929	5 402 779	14 951 807	14 470 464	15 463 902	15 598 124	15 930 494	17 092 433
Debtors	1 841 114	2 353 217	11 955 567	12 596 929	14 055 904	14 413 764	14 415 757	14 383 202
Net Assets Liabilities	1 142 271	1 868 367		2 374 741	2 954 732	3 074 142	4 028 964	4 800 133
Other Debtors	241 558	957 233	731 771	145 588	500 000	850 000	1 060 000	1 100 000
Property Plant Equipment	112 148	77 992	46 534	50 602	512 003	491 827	437 795	350 279

Other Financial Data
Audit Fees Expenses			8 620	9 502	9 605	10 477	14 131	13 869
Fees For Non-audit Services			1 548	3 798	5 478	2 610	720	500
Director Remuneration			792 036	2 379 028	1 428 515	587 943	819 258	563 441
Number Directors Accruing Benefits Under Money Purchase Scheme						1	1	1
Accrued Liabilities Deferred Income			7 742 566	7 722 934	8 069 868	7 939 214	7 481 251	7 368 638
Accumulated Amortisation Impairment Intangible Assets	31 755	67 167	67 167	67 167	67 167	67 167	67 167	88 349
Accumulated Depreciation Impairment Property Plant Equipment	437 241	496 022	139 557	168 506	190 730	276 325	370 207	457 234
Administrative Expenses			4 571 064	6 634 237	5 937 118	5 622 092	6 226 675	5 309 279
Applicable Tax Rate			19	19	19	19	19	19
Average Number Employees During Period			84	88	91	92	89	70
Cash Cash Equivalents Cash Flow Value			2 996 240	1 873 535	1 407 998	1 184 360	1 514 737
Comprehensive Income Expense			644 935	261 439	1 279 991	1 319 410	954 822	1 571 169
Corporation Tax Payable			156 401	51 526	229 503	312 261	237 809	370 217
Cost Sales			5 357 310	5 554 597	5 836 520	5 661 270	5 580 217	5 457 843
Creditors	3 230 218	3 612 404	12 485 039	12 146 325	30 201	8 883	12 254 325	12 633 451
Current Tax For Period			158 125	14 107	229 503	312 261	237 809	370 217
Depreciation Amortisation Expense			46 945	28 949	38 020	85 594	93 882	88 550
Depreciation Expense Property Plant Equipment			46 944	28 949	38 020	85 595	93 882	88 550
Dividends Paid				400 000	700 000	1 200 000		800 000
Dividends Paid Classified As Financing Activities				-400 000	-700 000	-1 200 000		-800 000
Dividends Paid On Shares Final				400 000	700 000	1 200 000		800 000
Finance Lease Liabilities Present Value Total	13 399				30 201	21 318	8 883
Finance Lease Payments Owing Minimum Gross			5 414	12 866
Financial Liabilities	13 399
Fixed Assets	147 560	77 992	46 534	50 602	512 003	491 827	437 795	426 151
Future Finance Charges On Finance Leases				-10 923
Future Minimum Lease Payments Under Non-cancellable Operating Leases			5 414	12 866	130 830	125 739	124 094	119 910
Gain Loss In Cash Flows From Change In Creditors Trade Other Payables			9 008 456	-233 839	573 351	-65 803	-594 714	255 601
Gain Loss In Cash Flows From Change In Debtors Trade Other Receivables			-9 602 350	-641 362	-1 458 975	-357 859	-1 993	32 555
Gain Loss On Disposal Assets Income Statement Subtotal			1 913		-4 248			-922
Gain Loss On Disposals Property Plant Equipment			1 913		-4 248			-922
Gross Profit Loss			5 352 647	6 779 783	7 504 634	7 249 069	7 432 253	7 216 343
Income Taxes Paid Refund Classified As Operating Activities			-293 946	-118 982	-51 526	-229 503	-315 068	-237 809
Increase Decrease In Cash Cash Equivalents Before Foreign Exchange Differences Changes In Consolidation			-53 322	-1 122 705	-465 537	-223 638	330 377	1 194 494
Increase Decrease In Current Tax From Adjustment For Prior Periods			1 648	215
Increase From Amortisation Charge For Year Intangible Assets		35 412						21 182
Increase From Depreciation Charge For Year Property Plant Equipment		58 781		28 949	38 020	85 595	93 882	88 550
Intangible Assets	35 412							75 872
Intangible Assets Gross Cost	67 167		67 167	67 167	67 167	67 167	67 167	164 221
Net Cash Flows From Used In Financing Activities				400 000	648 480	1 221 319	21 318	808 883
Net Cash Flows From Used In Investing Activities			-7 903	33 017	489 691	61 725	38 797	64 688
Net Cash Flows From Used In Operating Activities			61 225	689 688	-672 634	-1 059 406	-390 492	-2 068 065
Net Cash Generated From Operations			-232 721	570 706	-724 160	-1 288 909	-702 753	-2 305 874
Net Current Assets Liabilities	998 711	1 790 375	2 466 768	2 324 139	2 544 930	2 662 198	3 676 169	4 458 982
Net Interest Received Paid Classified As Investing Activities			-21 477		-13 978	-3 694	-1 053	-34 322
Nominal Value Allotted Share Capital			2 000	2 000
Number Shares Issued Fully Paid				2 000	2 000	2 000	2 000	2 000
Operating Profit Loss			781 583	275 546	1 567 516	1 626 977	1 205 578	1 907 064
Other Creditors	797 830	283 808
Other Interest Receivable Similar Income Finance Income			21 477		13 978	3 694	1 053	34 322
Other Operating Income Format1				130 000
Other Remaining Borrowings				5 598 412
Other Taxation Social Security Payable	229 269	330 784	172 936	55 445	93 133	93 475	91 097	73 797
Par Value Share				1	1	1	1	1
Pension Other Post-employment Benefit Costs Other Pension Costs			48 642	38 661	57 236	84 121	94 085	90 001
Prepayments Accrued Income			161 944	137 141	126 248	138 015	227 481	149 433
Proceeds From Sales Property Plant Equipment			-6 500		-1
Profit Loss			644 935	261 439	1 279 991	1 319 410	954 822	1 571 169
Profit Loss On Ordinary Activities Before Tax			803 060	275 546	1 581 494	1 630 671	1 206 631	1 941 386
Property Plant Equipment Gross Cost	549 389	574 014	186 091	219 108	702 733	768 152	808 002	807 513
Provisions For Liabilities Balance Sheet Subtotal	4 000				72 000	71 000	85 000	85 000
Purchase Property Plant Equipment			-20 074	-33 017	-503 670	-65 419	-39 850	-1 956
Social Security Costs			292 606	570 479	452 440	380 588	435 346	381 157
Staff Costs Employee Benefits Expense			3 115 378	5 179 709	4 392 016	4 116 428	4 576 406	3 808 955
Tax Expense Credit Applicable Tax Rate			154 589	52 354	300 484	309 827	229 260	368 863
Tax Increase Decrease From Effect Capital Allowances Depreciation			1 888	-3 010	-72 624	2 343	7 800	1 035
Tax Increase Decrease From Effect Expenses Not Deductible In Determining Taxable Profit Or Loss				2 182	1 643	91	749	319
Tax Tax Credit On Profit Or Loss On Ordinary Activities			158 125	14 107	301 503	311 261	251 809	370 217
Total Additions Including From Business Combinations Property Plant Equipment		24 625		33 017	503 670	65 419	39 850	1 956
Total Assets Less Current Liabilities	1 146 271	1 868 367	2 513 302	2 374 741	3 056 933	3 154 025	4 113 964	4 885 133
Trade Creditors Trade Payables	2 189 720	2 997 812	4 413 136	4 316 420	4 505 149	4 569 658	4 435 285	4 820 799
Trade Debtors Trade Receivables	1 599 556	1 395 984	11 061 852	12 314 200	13 078 306	12 784 384	12 612 885	12 575 064
Turnover Revenue			10 709 957	12 334 380	13 341 154	12 910 339	13 012 470	12 674 186
Wages Salaries			2 774 130	4 570 569	3 882 340	3 651 719	4 046 975	3 337 797
Additional Provisions Increase From New Provisions Recognised						-1 000	14 000
Additional Provisions Increase From New Provisions Recognised In Profit Or Loss					72 000
Amortisation Expense Intangible Assets								21 182
Disposals Decrease In Depreciation Impairment Property Plant Equipment					15 796			1 523
Disposals Property Plant Equipment					20 045			2 445
Interest Paid Classified As Operating Activities							2 807
Other Deferred Tax Expense Credit					72 000	-1 000	14 000
Payments Finance Lease Liabilities Classified As Financing Activities					51 520	-21 319	-21 318	-8 883
Provisions					72 000	71 000	85 000	85 000
Purchase Intangible Assets								-97 054
Total Additions Including From Business Combinations Intangible Assets								97 054
Total Borrowings				5 598 412	6 245 828	6 070 930	6 233 462	6 042 037