{"name":"SOURCE INSURANCE LIMITED","company_number":"02864963","status":"Active","type":"Private Limited Company","incorporated":"1993-10-22","dissolved":null,"registered_office":"Global Reach, Dunleavy Drive, Cardiff, Wales, CF11 0SN","postcode":"CF11 0SN","sic_codes":[{"code":66220,"description":"Activities of insurance agents and brokers"}],"principal_activity":"The principal activity of the Company is the provision of general insurance products and technical solutions, distributed through mortgage brokers and networks.","previous_names":[{"name":"RED APPLE GROUP LIMITED","changed_on":"2019-07-30"},{"name":"SOURCE INSURANCE LIMITED","changed_on":"2017-09-20"},{"name":"SOURCE SOFTWARE LIMITED","changed_on":"2012-02-03"},{"name":"SENTINEL UK LIMITED","changed_on":"2002-12-03"},{"name":"TRUSTGUARD POLICYLINE LIMITED","changed_on":"1997-06-04"},{"name":"TRUSTGUARD MARKETING LIMITED","changed_on":"1995-08-15"}],"warnings":[],"accounts":{"category":"Medium","year_end":"31 December","last_made_up_to":"2025-12-31","next_due":"2027-09-30"},"employees":{"count":60,"accounts_date":"2025-12-31"},"financials":[{"financial_date":"2025-12-31","turnover":9887770,"profit_loss":-144761,"net_assets":5495385,"cash":1093536,"average_employees":60},{"financial_date":"2024-12-31","turnover":12642643,"profit_loss":833713,"net_assets":5640146,"cash":1005274,"average_employees":69},{"financial_date":"2023-12-31","turnover":12729253,"profit_loss":1006300,"net_assets":5306433,"cash":1187020,"average_employees":67},{"financial_date":"2022-12-31","turnover":12674186,"net_assets":4800133,"cash":2709231},{"financial_date":"2021-12-31","turnover":13012470,"net_assets":4028964,"cash":1514737}],"officers":{"current":4,"resigned":17,"complete":true,"note":"Names and details of individual officers are on the People page (subscriber-only on this site) and free at Companies House."},"charges":{"total":1,"outstanding":0},"gazette_notices":[],"insolvency_outcome":null,"ai_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.","website":"https://www.sourceinsurance.co.uk/","links":{"page":"https://www.companiesintheuk.co.uk/ltd/source-insurance-2","people":"https://www.companiesintheuk.co.uk/company/source-insurance-2/people","filing_history":"https://www.companiesintheuk.co.uk/company/source-insurance-2/filing-history","companies_house":"https://find-and-update.company-information.service.gov.uk/company/02864963","financials":"https://www.companiesintheuk.co.uk/company/source-insurance-2/financial","control":"https://www.companiesintheuk.co.uk/company/source-insurance-2/control","charges":"https://www.companiesintheuk.co.uk/company/source-insurance-2/charges","ai_analysis":"https://www.companiesintheuk.co.uk/company/source-insurance-2/analysis"},"source":"CompaniesInTheUK, from Companies House, The Gazette and other public registers (see /support/about). Cite as: CompaniesInTheUK, https://www.companiesintheuk.co.uk/ltd/source-insurance-2"}