Company Registration No. 03012319 (England and Wales)
Specialty Underwriting Managers Ltd
Unaudited accounts
for the year ended 31 March 2026
Specialty Underwriting Managers Ltd
Unaudited accounts
Contents
Specialty Underwriting Managers Ltd
Company Information
for the year ended 31 March 2026
Company Number
03012319 (England and Wales)
Registered Office
Cranworth
The Parade
Birchington
CT7 9LT
England
Accountants
Austin, Taylor Limited
16 Dover Street
Canterbury
Kent
CT1 3HD
Specialty Underwriting Managers Ltd
Statement of financial position
as at 31 March 2026
Investments
2,983,583
2,491,205
Cash at bank and in hand
143,943
415,423
Creditors: amounts falling due within one year
(1,415,762)
(2,625,053)
Net current liabilities
(931,393)
(829,430)
Net assets
2,053,496
1,661,775
Called up share capital
20,000
20,000
Profit and loss account
2,033,496
1,641,775
Shareholders' funds
2,053,496
1,661,775
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 August 2026 and were signed on its behalf by
Mr D Papper
Director
Company Registration No. 03012319
Specialty Underwriting Managers Ltd
Notes to the Accounts
for the year ended 31 March 2026
Specialty Underwriting Managers Ltd is a private company, limited by shares, registered in England and Wales, registration number 03012319. The registered office is Cranworth, The Parade, Birchington, CT7 9LT, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% On Cost
Computer equipment
33% On Cost
Investments in shares are included at fair value.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Specialty Underwriting Managers Ltd
Notes to the Accounts
for the year ended 31 March 2026
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2025
16,574
5,413
21,987
At 31 March 2026
16,574
6,719
23,293
At 1 April 2025
16,574
5,413
21,987
At 31 March 2026
16,574
5,413
21,987
At 31 March 2026
-
1,306
1,306
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Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 April 2025
2,023,060
468,145
2,491,205
Additions
492,378
-
492,378
Valuation at 31 March 2026
2,515,438
468,145
2,983,583
Amounts falling due within one year
Trade debtors
51,726
78,872
Accrued income and prepayments
-
18,032
Other debtors
288,700
1,283,296
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Creditors: amounts falling due within one year
2026
2025
Amounts owed to group undertakings and other participating interests
1,310,761
2,484,199
Taxes and social security
98,061
137,410
Specialty Underwriting Managers Ltd
Notes to the Accounts
for the year ended 31 March 2026
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loan
1,283,296
1,130,404
2,125,000
288,700
1,283,296
1,130,404
2,125,000
288,700
The directors loan has interest applied at 3.90% per annum on an average basis. The loan is repayable on demand and the maximum outstanding during the year was £1,283,296.
9
Transactions with related parties
The company owed £1,310,761 (2025: £2,484,199, Restated, was owed) to/by Market Management Limited at the year end a subsidiary of Specialty Underwriting Managers Limited. The loan is payable on demand and has no interest charges.
In the year ending 31st March 2026 the company purchased from Mrs N Papper the remaining ordinary shares at market value in its subsidiary Market Management Ltd for £492,378.
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Average number of employees
During the year the average number of employees was 2 (2025: 2).