PINE WALK CAPITAL LIMITED
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Cash
£238M
USD 318,400,000
+66.1% vs 2023
Net assets
£246M
USD 328,300,000
+77.7% vs 2023
Employees
94
+25.3% vs 2023
Profit before tax
£156M
USD 208,200,000
+11.9% vs 2023
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £240,530,019 | £302,215,901 | +25.6% | |
| Operating profit | £133,253,481 | £141,039,078 | +5.8% | |
| Profit before tax | £139,242,402 | £155,861,656 | +11.9% | |
| Net profit | £108,549,184 | £118,805,210 | +9.4% | |
| Cash | £143,509,507 | £238,359,036 | +66.1% | |
| Total assets less current liabilities | £141,188,801 | £250,561,461 | +77.5% | |
| Net assets | £138,344,063 | £245,770,325 | +77.7% | |
| Equity | £138,344,063 | £245,770,325 | +77.7% | |
| Average employees | 75 | 94 | +25.3% | |
| Wages | £8,384,489 | £11,304,087 | +34.8% | |
| Directors' remuneration | — | — | — |
Figures converted to GBP from USD at 0.749 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 55.4% | 46.7% | |
| Net margin | 45.1% | 39.3% | |
| Return on capital employed | 94.4% | 56.3% | |
| Gearing (liabilities / total assets) | 58.0% | 55.7% | |
| Current ratio | 1.73x | 1.81x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- KPMG LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Consequently, the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for at least 12 months from the approval date of these consolidated financial statements. Thus, they continue to adopt the Going Concern basis of accounting in preparing the consolidated financial statements.”
Group structure
- PINE WALK CAPITAL LIMITED · parent
- Pine Walk Europe SRL Limited 100%
- Pine Walk Europe SRL Limited (Preference Shares 'G') 100%
- Tiomanta Specialty Limited 100%
- Perigon Product Recall Limited 75%
- OPEnergy Limited 75%
- Navium Marine Limited 70%
- Pernix Specialty Limited 75%
- Itasca MGA Limited 60%
- Radius Specialty Limited 20%
- Oakside Surety Limited 40%
- Itasca MGA Services Ltd 60%
- Novagen Specialty Limited 75%
- Silverflame Re Limited 70%
- Seraphina Specialty Limited 75%
- Truepath Specialty Limited 100%
- Sevanta Specialty Liability Limited 70%
Significant events
- “On 21 May 2024, The Fidelis Partnership undertook a 9.9% participation in Lloyd's Syndicate 3123 ("Syndicate 3123") 2024 Year of Account.”
- “Strategic expansion of the Group included launching three new MGA entities in 2024.”
- “The Group intends to move Pine Walk Europe's corporate seat from Belgium to Ireland by means of a cross-border conversion under Directive (EU) 2019/2121 of the European Parliament and of the Council of 27 November 2019 amending Directive (EU) 2017/1132 as regards cross-border conversions, mergers and divisions (the "Mobility Directive"), subject to receipt of all necessary legal, regulatory and corporate approvals.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 7 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MOLONEY, Man Wah Erie, Ms. | Secretary | 2023-03-01 | — | — |
| DAVERN, Michael Elliot | Director | 2025-10-03 | Sep 1980 | British |
| DAWE, Grahame Trevethan | Director | 2021-04-29 | May 1970 | British |
| MATHIAS, Charles Benedict | Director | 2023-01-01 | Dec 1961 | British |
| SWEETSER, Christopher Smith, Mr. | Director | 2025-09-18 | Jun 1980 | American |
| WELLS, Suzanne | Director | 2026-03-03 | Feb 1979 | British |
Show 7 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CALLIDUS SECRETARIES LIMITED | Corporate Secretary | 2017-10-01 | 2023-03-01 |
| BURFORD, Ian | Director | 2019-07-31 | 2021-04-12 |
| BURROWS, Daniel David | Director | 2017-09-22 | 2022-12-19 |
| COTTELL, Michael Charles | Director | 2020-11-12 | 2024-04-05 |
| INGHAM, Sharon Julia | Director | 2017-09-22 | 2020-08-28 |
| PATEL, Hinal Sagoon | Director | 2022-12-19 | 2025-06-23 |
| PATEL, Rinku | Director | 2017-07-03 | 2025-10-14 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Fidelis Insurance Holdings Limited | Corporate entity | Shares 50–75%, Voting 50–75%, Appoints directors | 2017-09-27 | Ceased 2020-01-15 |
| Rinku Patel | Individual | Shares 25–50%, Voting 25–50% | 2017-09-27 | Ceased 2019-12-09 |
| Mr Rinku Patel | Individual | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-07-03 | Ceased 2017-09-27 |
Filing timeline
Last 20 of 84 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-04 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-09 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-12-09 | CH01 | officers | Change person director company with change date | |
| 2025-11-07 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-22 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-24 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-11 | AA | accounts | Accounts with accounts type group | |
| 2025-07-03 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-02 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-02-20 | ANNOTATION | miscellaneous | Legacy | |
| 2025-02-20 | ANNOTATION | miscellaneous | Legacy | |
| 2025-02-11 | ANNOTATION | miscellaneous | Legacy | |
| 2025-01-13 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2025-01-09 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-28 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-09-24 | AA | accounts | Accounts with accounts type group | |
| 2024-04-12 | TM01 | officers | Termination director company with name termination date | |
| 2023-12-20 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-12-13 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2023-09-19 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 0
- Officers appointed
- 3
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.