Source Insurance Limited

Reference number: 300222

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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 thesource.co.uk first appeared online, and whether it can receive email
  • What kind of line 029 2026 5265 is
  • Who else gives the postcode CF11 0SN
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Other names (12)

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

  • Source Finance Trading name
  • Red Apple Group Limited Former name
  • Source Software Limited Former name
  • CoverBuilder Former trading name
  • CoverBuilder.co.uk Former trading name
  • Dynamo Cover Former trading name
  • Funkyinsurance.com Former trading name
  • Naked Insurance Former trading name
  • Red Apple Finance Former trading name
  • Reptile Protect Former trading name
  • SourceLet Former trading name
  • Trusteeguard Former 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 (8 permissions)
  • Advising on investments (except on Pension Transfers and Pension Opt Outs)
  • Arranging (bringing about) deals in investments
  • Assisting in the administration and performance of a contract of insurance
  • Credit Broking
  • Dealing in investments as agent
  • Entering into regulated credit agreement as Lender (Excluding high-cost short-term credit, bill of sale agreement, and home collected credit agreement)
  • Exercising/having right to exercise lender's rights and duties under a regulated credit agreement (excluding high-cost short-term credit, bill of sale agreement, and home collected credit agreement)
  • 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
02864963
Company status
Active
Company type
Private limited company
Incorporated
22 October 1993 (33 years old)
Registered office
Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, Wales
Nature of business
  • Activities of insurance agents and brokers (SIC 66220)

Directors and company secretaries

Name Role Born Appointed Other companies
Andrew Alistair Masters Director Feb 1964 22 Oct 1993 12 other companies
Jonathan Pinkerton Director Apr 1981 21 Aug 2020 1 other company
Malcolm Trevor Guest Director Sep 1964 10 Nov 2021 2 other companies
Christopher William Lynch Director Apr 1978 28 Oct 2024 None
Louise Anne Watkins Director Feb 1972 28 Oct 2024 None

Other companies run by these 5 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 companies
13
closed down
10
run together
1

In the full report: all 13 companies, named

  • What each company does, and whether it is still trading
  • Which of these 5 directors sit on each board, and since when
  • Any that went into liquidation or administration
  • The 1 company these 5 directors run together
  • All 18 people who have ever been directors, with their dates
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Filed accounts and finances

Year to 31 December 2025Full accountsAudited

Turnover

£9.89m

−22% from £12.6m

Profit before tax

−£206k

−118% from £1.12m

Net assets

£5.50m

−2.6% from £5.64m

Cash at bank

£1.09m

+8.8% from £1.01m

Turnover and profit

In the full report: all 7 years of accounts

  • Every year from 2019 to 2025
  • Both charts, 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.

Accounts filed at Companies House for company 02864963. 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

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

Key events (8) All events (63)

2019

30 July 2019

  • Changed its registered name from "Red Apple Group Limited"

FCA register

2017

20 September 2017

  • Changed its registered name from "Source Insurance Limited"

FCA register

2016

6 April 2016

  • Andrew Alistair Masters became a part-owner (25–50% of shares)

Companies House

2013

1 April 2013

  • Regulated by the FCA from this date

FCA register · Companies House

2012

7 February 2012

  • Changed its registered name from "Source Software Limited"

FCA register

2004

31 October 2004

  • Regulated by the Financial Services Authority from this date
  • Became authorised by the FCA

FCA register

1993

22 October 1993

  • Incorporated at Companies House

Companies House

In the full report: all 63 events

  • All 63 events in its history (8 shown here)
  • Every director appointment and resignation: 31
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Firms connected to Source Insurance

Other FCA-listed firms that share a director, phone number or address with Source Insurance. 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 Source Insurance

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

In Cardiff

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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 Source Insurance

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

  • 13 other companies its directors have run, named
  • 3 background checks on its contact details
  • 7 years of accounts, charted
  • All 63 events in its history
  • 3 connected firms, named, and who links them

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Frequently asked questions about this firm

Is Source Insurance Limited FCA authorised?
Yes, Source Insurance Limited (FRN 300222) is authorised by the FCA to carry out regulated activities. It has held its current authorisation since October 2004 and works as a lender. The FCA has placed no limits on its permissions.
What is Source Insurance’s phone number and website?
The FCA register lists the phone number 029 2026 5265 and the website thesource.co.uk for Source Insurance. If you were given different contact details, use these to check with the firm before going any further.
Is Source Insurance a scam or clone?
Source Insurance 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 Source Insurance?
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 Source Insurance to the Financial Ombudsman Service, free of charge.
Who owns Source Insurance?
Companies House lists one person with significant control of Source Insurance: Mr Andrew Alistair Masters (25–50% of shares).
Who runs Source Insurance?
Companies House lists 5 directors of Source Insurance: Andrew Alistair Masters, Jonathan Pinkerton, Malcolm Trevor Guest, Christopher William Lynch and Louise Anne Watkins.
How long has Source Insurance been in business?
The company was formed on 22 October 1993, and has held its current FCA authorisation since October 2004.
What do Source Insurance’s latest accounts show?
Its latest accounts, to 31 December 2025, show turnover of £9.89m (−22% from £12.6m) and profit before tax of −£206k (−118% from £1.12m).
Does Source Insurance use any other names?
It trades as Source Finance. It has previously used 11 other names, including Red Apple Group Limited, Source Software Limited and CoverBuilder.

Sources and links

The full report on Source Insurance Limited

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