Magnet Insurance Services Ltd

Reference number: 489228

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Authorised by the FCA

This firm is on the FCA register and authorised to carry out regulated activities.

Website, phone number and address

Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.

In the full report: 3 background checks

  • When magnetinsurance.co.uk first appeared online, and whether it can receive email
  • What kind of line 01636 858249 is
  • Who else gives the postcode NG24 2TN
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Other names (1)

If you were contacted under any of these names, it is this firm.

  • Magnet Trading name

FCA permissions and consumer protection

  • Give regulated advice FSCS may apply
    A claim for unsuitable advice is itself FSCS-protected, up to the limit that applies to the product you were advised on.
  • Manage or trade investments FSCS may apply
    Eligible investment and pension claims are typically FSCS-protected up to £85,000 per person, depending on the product and your circumstances.
  • Sell or arrange insurance FSCS may apply
    Eligible insurance claims may be FSCS-protected, often 90%, or 100% for compulsory or long-term cover.
  • Lend or arrange credit No FSCS cover
    Consumer credit is not covered by the FSCS, so there is no compensation scheme if the firm fails.
  • Complaints Ombudsman, free
    You can refer a complaint about this firm to the Financial Ombudsman Service for free, whichever activity it relates to.
Show FCA detail (7 permissions)
  • Advising on investments (except on Pension Transfers and Pension Opt Outs)
  • Advising on P2P agreements
  • Arranging (bringing about) deals in investments
  • Assisting in the administration and performance of a contract of insurance
  • Credit Broking
  • Dealing in investments as agent
  • Making arrangements with a view to transactions in investments

FCA disciplinary action and complaints

No FCA disciplinary action.

The Financial Ombudsman Service only publishes complaint figures for firms with 30 or more new complaints in six months, so there are none here for this firm.

Companies House record

The company behind the firm: its status, age, registered office and directors.

Company number
06664153
Company status
Active
Company type
Private limited company
Incorporated
5 August 2008 (18 years old)
Registered office
Newark Beacon, Cafferata Way, Newark, Nottinghamshire, NG24 2TN
Nature of business
  • Non-life insurance (SIC 65120)

Directors and company secretaries

Name Role Born Appointed Other companies
Anthony Morgan Bound Director Jun 1963 28 Aug 2008 1 other company
Kristian Michael Johnston Director Oct 1996 20 May 2026 None
Olivia Mollie Johnston Director Jan 1995 21 May 2026 None
ATARAXIA 18 LIMITED Corporate director Not published 31 Jul 2026 None

Other companies run by these 4 directors

A firm is run by people, and their other companies are their track record: what they built, what closed, and anything that failed. It is the check most people never think to make.

other company
1
closed down
1

In the full report: all 1 company, named

  • What each company does, and whether it is still trading
  • Which of these 4 directors sit on each board, and since when
  • Any that went into liquidation or administration
  • All 7 people who have ever been directors, with their dates
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Filed accounts and finances

Year to 31 December 2025Small company accountsNot audited

Net assets

£324k

+47% from £220k

Cash at bank

£252k

+56% from £162k

Employees (average)

11

Same as 11

Owed within a year

£80.9k

+17% from £69.2k

Assets and liabilities

In the full report: all 7 years of accounts

  • Every year from 2019 to 2025
  • The chart, over every year
  • Every filed figure, year by year
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About these figures
Turnover
Money taken from sales in the year, before any costs.
Profit before tax
What was left after the year’s costs, before corporation tax. A minus figure is a loss.
Net assets, or total equity
Everything the company owns minus everything it owes. A minus figure means it owes more than it owns.
Total assets and total liabilities
Everything the company owns, and everything it owes, on the last day of the year. The gap between them is its net assets.
Cash at bank
Money in the company’s accounts on the last day of the year.
Owed within a year, owed after a year
Debts and bills due in the next twelve months, and those due later.

There is no turnover or profit: small companies do not have to publish them.

Accounts filed at Companies House for company 06664153. Every figure is as filed, apart from total assets and total liabilities, which are added up from filed figures. Nothing is estimated.

Key dates in its history

Magnet Insurance Services’s history from the FCA register and Companies House, newest first.

Key events (9) All events (22)

2026

31 July 2026

  • Anthony Morgan Bound gave up control
  • Ataraxia 18 Limited became the majority owner (50–75% of shares)

Companies House

2023

30 September 2023

  • David Nicholas Beach stopped being a part-owner

Companies House

2016

5 August 2016

  • Anthony Morgan Bound took control (75–100% of shares)
  • David Nicholas Beach became a part-owner (25–50% of shares)

Companies House

2013

1 April 2013

  • Regulated by the FCA from this date

FCA register

2008

19 November 2008

  • Became authorised by the FCA

FCA register

23 September 2008

  • Regulated by the Financial Services Authority from this date

FCA register

5 August 2008

  • Incorporated at Companies House

Companies House

In the full report: all 22 events

  • All 22 events in its history (9 shown here)
  • Every director appointment and resignation: 9
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Firms connected to Magnet Insurance Services

Other FCA-listed firms that share a director, phone number or address with Magnet Insurance Services. A link shows who the firm is tied to, not whether either can be trusted.

connected firms
3
share its postcode
3

In the full report: all 3 connected firms, named

  • How each is linked: the same postcode (3)
  • Who links each one: the named directors, with dates
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Firms like Magnet Insurance Services

Other firms of the same type (insurance broker), nearest first.

In Newark

Graham Sykes LimitedNewarkAuthorisedNoble Insurance Services LtdNewarkAuthorisedYachtmaster Insurance Services LtdNewarkAuthorisedA D Barrett, A J Bloomfield, C J Robinson & H G TingleNewarkAppointed representativeA M Smith & S M ToplissNewarkAppointed representativeDawn DickensNewarkAppointed representative

Firms are listed by type and location, best known first. Being listed is not a recommendation: check any firm before you deal with it.

Get the full report on Magnet Insurance Services

Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.

  • 1 other company its directors have run, named
  • 3 background checks on its contact details
  • 7 years of accounts, charted
  • All 22 events in its history
  • 3 connected firms, named, and who links them

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Frequently asked questions about this firm

Is Magnet Insurance Services Ltd FCA authorised?
Yes, Magnet Insurance Services Ltd (FRN 489228) is authorised by the FCA to carry out regulated activities. It has held its current authorisation since November 2008 and works as an insurance broker. The FCA has placed no limits on its permissions.
What is Magnet Insurance Services’ phone number and website?
The FCA register lists the phone number 01636 858249 and the website magnetinsurance.co.uk for Magnet Insurance Services. If you were given different contact details, use these to check with the firm before going any further.
Is Magnet Insurance Services a scam or clone?
Magnet Insurance Services is a genuine FCA-listed firm, and the FCA has published no warnings about fake versions of it. Scammers do copy real firms, though, so check that any contact details you were given match the ones on the register.
Is my money safe with Magnet Insurance Services?
Its FCA permissions do not allow it to hold or control client money. It depends on the product, but eligible claims may be protected by the FSCS. You can also refer complaints about Magnet Insurance Services to the Financial Ombudsman Service, free of charge.
Who owns Magnet Insurance Services?
Magnet Insurance Services is owned by Ataraxia 18 Limited, which holds 50–75% of shares and 50–75% of votes, since 31 July 2026. Before that, it was controlled by Mr Anthony Morgan Bound and Mr David Nicholas Beach.
Who runs Magnet Insurance Services?
Companies House lists 4 directors of Magnet Insurance Services: Anthony Morgan Bound, Kristian Michael Johnston, Olivia Mollie Johnston and Ataraxia 18 Limited.
How long has Magnet Insurance Services been in business?
The company was formed on 5 August 2008, and has held its current FCA authorisation since November 2008.
What do Magnet Insurance Services’ latest accounts show?
Its latest accounts, to 31 December 2025, show net assets of £324k (+47% from £220k) and cash at bank of £252k (+56% from £162k).
Does Magnet Insurance Services use any other names?
It trades as Magnet.

Sources and links

The full report on Magnet Insurance Services Ltd

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