EXTRACOVER HOLDINGS LIMITED
Get an alert when EXTRACOVER HOLDINGS LIMITED files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-06-24 (in 1mo)
Last made up 2025-06-10
Watchouts
None on the register
Cash
£51M
Latest balance sheet
Net assets
-£35M
Equity attributable
Employees
342
Average over period
Profit before tax
-£5M
Period ending 2024-12-31
Net assets
2-year trend · vs Technology median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £7,787,970 | £8,647,010 | |
| Operating profit | -£38,609,350 | -£7,411,717 | |
| Profit before tax | -£37,513,452 | -£4,790,135 | |
| Net profit | -£34,430,946 | -£4,147,685 | |
| Cash | £35,865,725 | £50,866,907 | |
| Total assets less current liabilities | — | — | |
| Net assets | -£38,811,516 | -£35,420,351 | |
| Equity | -£38,811,516 | -£35,420,351 | |
| Average employees | 418 | 342 | |
| Wages | £29,218,399 | £18,005,757 | |
| Directors' remuneration | £179,442 | £294,731 |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | — | -85.7% | |
| Net margin | — | -48.0% | |
| Gearing (liabilities / total assets) | 127.9% | 126.4% | |
| Interest cover | -49.45x | -51.25x |
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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have a reasonable expectation that the Group and Company have adequate resources to continue in operational existence for the foreseeable future and therefore continue to adopt the going concern basis in preparing the financial statements.”
Group structure
- EXTRACOVER HOLDINGS LIMITED · parent
- Extracover Limited
- Extracover Insurance Company Ltd
- Zego Holdings BV
- Zego BV
- Bahub, Business Analysis Systems, LDA
- Extracover Israel Limited
- Extracover Services Management Ltd
Significant events
- “Throughout 2024, the group steadily progressed towards overall profitability, culminating in the milestone of monthly profitability achieved in December.”
- “As part of our commitment to sustainable and profitable growth, we exited the B2B segment within the EU market.”
- “We successfully negotiated improved reinsurance terms at the end of the year, strengthening our financial resilience and enabling more efficient risk management moving forward.”
- “We are committed to expanding our product portfolio, starting with personal insurance tailored for premium segments such as new drivers, which launched in February 2025.”
- “With approval from the Gibraltar Financial Services Commission ("GFSC"), we launched a net rate model and moved to a co-insurance arrangement.”
- “We continued our strategic focus on responsibly leveraging artificial intelligence to achieve internal efficiencies and maintain operational excellence.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CUTLER, Joel | Director | 2021-04-01 | Mar 1958 | American |
| FLYNN, Sonia | Director | 2023-03-02 | Jun 1975 | Irish |
| MOFFAT, Robert Warriner | Director | 2018-07-10 | Jun 1978 | British |
| SAAR, Sten | Director | 2018-07-10 | Feb 1986 | British |
| TRELOAR, Stephen | Director | 2024-09-26 | Oct 1968 | British |
| VALLER, Yaron | Director | 2025-02-27 | Sep 1970 | Israeli |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| FRANKS, Harry | Director | 2018-02-05 | 2023-03-02 |
| HINRIKUS, Taavet | Director | 2019-06-13 | 2024-09-26 |
| KAMINSKI, Ben | Director | 2019-06-13 | 2025-02-27 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Sten Saar | Individual | Significant influence | 2018-08-01 | Active |
| Balderton Capital Vi, S.L.P. | Corporate entity | Shares 25–50% | 2018-07-10 | Ceased 2020-02-29 |
| Harry Franks | Individual | Significant influence | 2018-02-05 | Ceased 2023-09-28 |
Filing timeline
Last 20 of 140 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-01-10 MA Memorandum articles
- 2025-01-10 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-11-27 | SH01 | capital | Capital allotment shares | |
| 2025-11-05 | SH01 | capital | Capital allotment shares | |
| 2025-10-27 | CH01 | officers | Change person director company with change date | |
| 2025-10-21 | SH01 | capital | Capital allotment shares | |
| 2025-09-30 | AA | accounts | Accounts with accounts type group | |
| 2025-06-10 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-03-31 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-03-03 | AP01 | officers | Appoint person director company with name date | |
| 2025-03-03 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-10 | MA | incorporation | Memorandum articles | |
| 2025-01-10 | RESOLUTIONS | resolution | Resolution | |
| 2024-10-17 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-17 | AA | accounts | Accounts with made up date | |
| 2024-10-09 | CH01 | officers | Change person director company with change date | |
| 2024-10-04 | AP01 | officers | Appoint person director company with name date | |
| 2024-05-22 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-02-01 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2024-02-01 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2024-01-29 | SH01 | capital | Capital allotment shares | |
| 2024-01-08 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 3
- Officers appointed
- 0
- 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.