SOURCE INSURANCE LIMITED
Company number 02864963 · Monitor this company
Executive summary
Source Insurance Limited presents a business with strong long-term fundamentals — net assets have nearly tripled over nine years to £5.5m — but is currently experiencing acute symptoms of distress, with revenue declining 21.8% and a swing from £1.12m profit to a £206k loss in 2025. The underlying balance sheet remains healthy with improved leverage and stable cash, but the revenue trajectory requires urgent diagnostic attention to determine whether this is a temporary market fluctuation or structural shift requiring fundamental business model adaptation.
Shareholders' funds
£5,495,385
Balance sheet as at 2025-12-31
What it does
The principal activity of the Company is the provision of general insurance products and technical solutions, distributed through mortgage brokers and networks.
The company's own description, from its latest filed accounts.
Overview
- Company type
- Private Limited Company
- Incorporated
- 1993-10-22
- Employees
- 60 (2025 accounts · was 69 in 2024)
- Registered office
- Global Reach, Dunleavy Drive, Cardiff, Wales, CF11 0SN
- Postcode
- CF11 0SN
- Capital
- 2,000 GBP
- Accounts category
- Medium
- Charges
- 0 outstanding
Accounts
- Last made up to
- 2025-12-31
- Next due by
- 2027-09-30
- Financial year end
- 31 December
Confirmation statement
- Last statement dated
- 2025-10-19
- Next due by
- 2026-11-02
Nature of business (SIC)
- 66220 Activities of insurance agents and brokers
Officers 4 current · 17 resigned
Data protection registration
Registered with the ICO as a data protection fee payer — Z5250897 (Tier 2), registered since 2001.
Information Commissioner's Office register of fee payers, licensed under the Open Government Licence.
Contact details
- Website
- sourceinsurance.co.uk
- Phone
- 02920265265, 02920265214, 08001116768
Source works with your broker to bring you a choice of insurance policies from a range of top insurers, to provide you with tailored cover to suit your individual insurance needs.
Previous company names
| Name | Date changed |
|---|---|
| RED APPLE GROUP LIMITED | 2019-07-30 |
| SOURCE INSURANCE LIMITED | 2017-09-20 |
| SOURCE SOFTWARE LIMITED | 2012-02-03 |
| SENTINEL UK LIMITED | 2002-12-03 |
| TRUSTGUARD POLICYLINE LIMITED | 1997-06-04 |
| TRUSTGUARD MARKETING LIMITED | 1995-08-15 |
Previous registered addresses 4
| Address | Changed on |
|---|---|
| FLOOR 2, WING A, GLOBAL REACH CELTIC GATEWAY, DUNLEAVY DRIVE, CARDIFF, CF11 0SN, WALES | 2019-08-02 |
| DRAKE HOUSE, PLYMOUTH ROAD, PENARTH, SOUTH GLAMORGAN, CF64 3TP | 2019-07-30 |
| WINDSOR HOUSE, 2 QUEENS ROAD, PENARTH, SOUTH GLAMORGAN CF64 1DH | 1996-02-19 |
| WINDSOR HOUSE, 2 QUEENS ROAD, PENARTH, SOUTH GLAMORGAN CF64 1DH | 1996-02-19 |
Among its peers
Top 5%
by shareholders' funds, of 55 similar companies in CF
The largest employer among its local peers (60 staff).
Among the oldest 25% of its local peers, trading since 1993.
No.1 of the largest activities of insurance agents and brokers companies in Cardiff →
Competitors Cardiff
-
4. FIMAC23 LTD
This company ranks 1 among activities of insurance agents and brokers in Cardiff.
The class of 1993
49%
of the 25,069 companies incorporated in 1993 are still active today; 48% have since been dissolved.
A fact about the year, not a forecast for this company.
This company's registered activities are in financial services. If it carries on regulated business, it should appear on the FCA's Financial Services Register — the official record of authorised firms.