ALCHEMY UNDERWRITING LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-08-02 (in 3mo)
Last made up 2025-07-19
Watchouts
None on the register
Cash
£5M
Latest balance sheet
Net assets
£14M
highest in 4 filed years
Employees
22
Average over period
Profit before tax
£16M
Period ending 2024-12-31
Net assets
4-year trend · vs Financials median
Accounts
4-year trend · latest reflected 2024-12-31
| Metric | Trend | 2021-12-31 | 2022-09-30 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|
| Turnover | — | — | £17,613,222 | £26,091,724 | |
| Operating profit | — | — | £10,644,342 | £15,218,736 | |
| Profit before tax | — | — | £11,094,939 | £16,146,678 | |
| Net profit | — | — | £8,270,922 | £12,045,020 | |
| Cash | — | — | £5,328,344 | £4,522,309 | |
| Total assets less current liabilities | — | — | £6,029,223 | £20,314,163 | |
| Net assets | £1 | £1 | £6,029,223 | £14,225,163 | |
| Equity | £1 | £1 | £6,029,223 | £14,225,163 | |
| Average employees | — | — | 13 | 22 | |
| Wages | — | — | £3,565,215 | £5,939,505 | |
| Directors' remuneration | — | — | £1,902,566 | £2,774,973 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2021-12-31 | 2022-09-30 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|
| Operating margin | — | — | 60.4% | 58.3% | |
| Net margin | — | — | 47.0% | 46.2% | |
| Return on capital employed | — | — | 176.5% | 74.9% | |
| Gearing (liabilities / total assets) | — | — | 46.0% | 45.6% | |
| Current ratio | — | — | 2.05x | 4.30x | |
| Interest cover | — | — | 295.70x | 19.09x |
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.
Name history
Renamed 2 times since incorporation
- ALCHEMY UNDERWRITING LIMITED 2020-10-16 → present
- BELL UNDERWRITING LIMITED 2018-10-03 → 2020-10-16
- BELL RISK ANALYSIS LIMITED 2017-07-24 → 2018-10-03
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Grant Thornton UK LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis The Group has considered sensitivity analysis and in a plausible downside scenario the company has discretion over the timing and quantum of certain costs and this has been considered within the going concern assessment”
Group structure
- ALCHEMY UNDERWRITING LIMITED · parent
- Alchemy International Property Limited 92.5%
- Alchemy Professional Risks Ltd 80%
- Alchemy Upstream Energy Ltd 80%
- Alchemy Digital Solutions Ltd 77.5%
- Alchemy Europe Cell 100%
- Alchemy Crisis Management Ltd 100%
- Alchemy Marine Ltd 100%
- Alchemy Underwriting Nordics AB 100%
Significant events
- “On 31 January 2024 the Company repurchased 900,000 ordinary shares of £0 0001 each (9%) for £4,000,000 in cash following receipt of a dividend from Alchemy International Property Limited”
- “On 9 February 2024 a £6,000,000 loan from BP Marsh to AHL was novated to the Company such that the loan is now due from the Company to BP Marsh and is repayable in full by 30 January 2026”
- “On 30 January 2024 the Company gave security in the form of an unlimited guarantee to BP Marsh as security for the loan”
- “On 1 February 2024 the Company issued 478,948 new shares of £0 0001 each in the Company, increasing the share capital to 9,578,948”
- “On 30 January 2024, AHL (company number 10939528) entered into a £6,000,000 two year loan agreement with BP Marsh & Company Ltd ("BP Marsh") and the Company, with the Company a permitted transferee On 31 January 2024 AHL acquired 13 5% of the Company from PHL (1,350,000 ordinary shares of £0 0001 each) and became a related party of the Company”
- “On 31 October 2024 the company entered into two new office lease agreements for two further floors for five years In addition, the existing lease was extended to align with the new leases and the break clause removed”
- “On 23 May 2025 the company entered into a new lease agreement for an additional floor at our trading premises at Seething Lane commencing 1 September 2025 through to 30 October 2029”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 2 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| COUSINS, Alexander Rupert Gordon | Director | 2023-10-31 | Oct 1971 | British |
| DALTON, Peter David Barry | Director | 2023-12-20 | Sep 1970 | British |
| HOUSLEY, Richard John Ronald | Director | 2023-06-19 | Mar 1967 | British |
| NEWMAN, Jonathan Stuart | Director | 2025-07-06 | May 1975 | British |
| PADDA, Suneeta Rani | Director | 2024-02-15 | Jul 1966 | British |
| WALLAS, Andrew Stanley | Director | 2017-07-24 | Feb 1956 | British |
Show 2 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| COTTINGHAM, Robert Peter | Director | 2017-07-24 | 2023-08-03 |
| KEMP, Tallis Alexis | Director | 2018-08-08 | 2018-10-19 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Andrew Stanley Wallas | Individual | Shares 25–50%, Voting 25–50% | 2024-02-01 | Active |
| Mr Alexander Rupert Gordon Cousins | Individual | Shares 25–50%, Voting 25–50% | 2024-02-01 | Active |
| Mr Richard John Ronald Housley | Individual | Shares 25–50%, Voting 25–50% | 2022-12-16 | Active |
| Mr Andrew Stanley Wallas | Individual | Shares 75–100%, Voting 75–100% | 2022-11-01 | Ceased 2023-02-01 |
| Paladin Holdings Limited | Corporate entity | Significant influence | 2017-07-24 | Ceased 2022-11-01 |
Filing timeline
Last 20 of 64 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-02-08 MA Memorandum articles
- 2024-02-08 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-14 | SH01 | capital | Capital allotment shares | |
| 2026-01-13 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-29 | SH01 | capital | Capital allotment shares | |
| 2025-10-23 | AA | accounts | Accounts with accounts type group | |
| 2025-07-21 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-07-08 | AAMD | accounts | Accounts amended with accounts type group | |
| 2025-07-08 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-28 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-12-16 | AA | accounts | Accounts with accounts type group | |
| 2024-07-22 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-03-20 | SH01 | capital | Capital allotment shares | |
| 2024-03-14 | SH06 | capital | Capital cancellation shares | |
| 2024-03-14 | SH03 | capital | Capital return purchase own shares | |
| 2024-03-06 | AA01 | accounts | Change account reference date company previous extended | |
| 2024-03-05 | AA01 | accounts | Change account reference date company current extended | |
| 2024-02-29 | AP01 | officers | Appoint person director company with name date | |
| 2024-02-08 | MA | incorporation | Memorandum articles | |
| 2024-02-08 | RESOLUTIONS | resolution | Resolution | |
| 2024-02-02 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-02-02 | PSC01 | persons-with-significant-control | Notification of a person with significant control |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 2
- Officers appointed
- 1
- Officers resigned
- 0
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.