Cover.net Limited
Registered name: COVER.NET LIMITED
Part of Ludgate Limited groupCover.net Limited made £2.8m revenue and £814k profit in the year to 31 Dec 2024.
Cover.net Limited’s revenue grew 4% to £2.8m in the year to 31 Dec 2024, with £814k profit and 24 employees. The company is classified under “other information technology service activities” and is based in Carrickfergus; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- Carrickfergus
- Age
- 31 yrs · since 1995
- Type
- Private Limited Company
Key figures
Financial history
| Year to | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2024 |
|---|---|---|---|
| Disclosure | Profit & loss | Profit & loss | Profit & loss |
| Profit & loss | |||
| Revenue (turnover) | £2.4m | £2.7m | £2.8m |
| Cost of sales | — | — | −£1.8m |
| Operating profit | £867k | £1.1m | £1m |
| Profit before tax | £914k | £1.1m | £1.1m |
| Profit after tax | £741k | £863k | £814k |
| Profit (best available) | £741k | £863k | £814k |
| Employees (average) | 25 | 25 | 24 |
| Ratios | |||
| Profit margin | 30.4% | 31.6% | 28.6% |
| Revenue per employee | £97.5k | £109k | £119k |
| Profit per employee | £29.6k | £34.5k | £33.9k |
| Growth (year on year) | |||
| Revenue growth | — | ▲12% | ▲4.3% |
| Profit growth | — | ▲16.5% | ▼5.7% |
| Headcount growth | — | 0% | ▼4% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | — | — | — |
| Source | Accounts · bulk data Sep 2024 | Accounts · bulk data Sep 2024 | Accounts · bulk data Sep 2025 |
How the business works
- Profit margin
- 28.6%
- Profit ÷ revenue.
- Gross margin
- —
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £119k
- Revenue ÷ average employees.
- Profit per employee
- £33.9k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- —
- Now —
- Cash at bank
- —
- Now —
- Headcount
- ▼4%
- Now 24
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Ludgate Limitedultimate parent75–100%
- Ukbrokers Holdings Limited75–100%
- Pihl Holdings Limited75–100%
- Pihl Acquisition Limited75–100%
- Prestige Insurance Holdings Limited75–100%
- Cover.net Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (13)
- Abbey Insurance Brokers LimitedFigures not disclosed
- Beacon Newco (Birmingham) LtdFigures not disclosed
- Beacon Newco (Hitchin) LtdFigures not disclosed
- Beacon Newco (London) LtdFigures not disclosed
- Beacon Newco (Manchester) LtdFigures not disclosed
- Commercial Insurance Services Direct LtdFigures not disclosed
- Insure Ni LimitedFigures not disclosed
- Pihl Legal LimitedFigures not disclosed
- Prestige Underwriting Services LimitedFigures not disclosed
- Reliable Claims Solutions LimitedFigures not disclosed
- Reliable Vehicle Solutions LimitedFigures not disclosed
- Stroll Insurance Services LimitedFigures not disclosed
- Trumo Technology LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Dec 2024 (profit £814k), from the Companies House accounts bulk data published Sep 2025. Spotted an error? Request a correction.
Updated from Companies House on 25 Oct 2026