Priority Pass Limited

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priority pass limited Company Information

Live

MatureMegaLow

Company Number

02728518

Website

www.prioritypass.com

Registered Address

3 more london riverside, 5th floor, london, SE1 2AQ

Industry

Activities of other membership organisations n.e.c.

Telephone

02086801338

Next Accounts Due

January 2025

Group Structure

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Directors

Colin Evans32 Years

Christopher Evans2 Years

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Shareholders

priority travel group (holdings) limited 100%

priority pass limited Estimated Valuation

£396.3m

Pomanda estimates the enterprise value of PRIORITY PASS LIMITED at £396.3m based on a Turnover of £451.7m and 0.88x industry multiple (adjusted for size and gross margin).

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Priority Pass Limited is a live company located in london, SE1 2AQ with a Companies House number of 02728518. It operates in the activities of other membership organizations n.e.c. sector, SIC Code 94990. Founded in July 1992, it's largest shareholder is priority travel group (holdings) limited with a 100% stake. Priority Pass Limited is a mature, mega sized company, Pomanda has estimated its turnover at £451.7m with low growth in recent years.

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Pomanda's financial health check has awarded Priority Pass Limited a 3 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 7 areas for improvement. Company Health Check FAQs

Health Rating3out of 5

4 Strong

0 Regular

7 Weak

Size

annual sales of £451.7m, make it larger than the average company (£392.1k)

Growth

3 year (CAGR) sales growth of 1%, show it is growing at a slower rate (4.3%)

EXPORT

Priority Pass Limited's latest turnover from April 2023 is £451.7 million and the company has net assets of £28.7 million. According to their latest financial statements, Priority Pass Limited has 235 employees and maintains cash reserves of £687.4 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Apr 2023	Apr 2022	Apr 2021	Apr 2020	Apr 2019	Apr 2018	Apr 2017	Apr 2016	Apr 2015	Apr 2014	Apr 2013	Apr 2012	Apr 2011	Apr 2010
Turnover	451,749,635	252,678,713	107,457,885	439,612,818	444,670,848	378,946,268	300,098,372	190,422,373	143,901,904	119,644,983	107,649,175	90,614,785	71,132,537	60,367,915
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	399,480,610	222,787,041	83,425,042	396,599,178	402,657,098	340,086,321	263,298,975	158,908,810	119,386,957	98,423,119	87,643,589	70,632,902	57,026,341	46,360,544
Gross Profit	52,269,025	29,891,672	24,032,843	43,013,640	42,013,750	38,859,947	36,799,397	31,513,563	24,514,947	21,221,864	20,005,586	19,981,883	14,106,196	14,007,371
Admin Expenses	38,420,093	24,013,999	15,249,017	33,728,882	29,490,514	29,984,646	23,215,341	23,388,546	22,693,375	9,762,083	13,375,493	10,057,642	6,567,743	6,172,450
Operating Profit	13,848,932	5,877,673	8,783,826	9,284,758	12,523,236	8,875,301	13,584,056	8,125,017	1,821,572	11,459,781	6,630,093	9,924,241	7,538,453	7,834,921
Interest Payable	87,357	41	0	0	0	27,185	12,896	22,246	0	7,311	219	142	12	0
Interest Receivable	1,067,732	848,183	175,567	569,613	439,454	207,973	349,320	77,003	2,033	2,022	1,326	1,095	930	1,035
Pre-Tax Profit	14,829,307	6,725,815	8,959,393	9,854,371	12,962,690	9,056,089	13,970,479	8,179,774	1,823,605	11,454,492	6,631,200	9,925,194	7,539,371	7,835,956
Tax	-2,836,175	-1,311,455	-1,703,320	-1,838,061	-2,487,038	-1,751,053	-2,821,027	-1,690,714	-491,222	-2,523,694	-1,590,469	-2,565,334	-2,114,608	-2,197,063
Profit After Tax	11,993,132	5,414,360	7,256,073	8,016,310	10,475,652	7,305,036	11,149,452	6,489,060	1,332,383	8,930,798	5,040,731	7,359,860	5,424,763	5,638,893
Dividends Paid	16,727,705	60,000,000	0	0	0	0	0	0	199,996	0	0	0	0	0
Retained Profit	-4,734,573	-54,585,640	7,256,073	8,016,310	10,475,652	7,305,036	11,149,452	6,489,060	1,132,387	8,930,798	5,040,731	7,359,860	5,424,763	5,638,893
Employee Costs	17,828,614	17,317,854	14,951,962	13,090,552	10,182,587	5,677,812	6,291,379	6,225,806	5,593,082	5,090,500	3,293,551	3,464,311	2,361,709	2,197,367
Number Of Employees	235	244	239	223	167	97	96	80	71	71	61	56	44	40
EBITDA*	14,001,985	6,048,753	8,992,799	9,401,555	12,617,510	8,957,321	13,904,149	8,474,006	2,128,655	11,513,323	6,635,770	10,162,256	7,737,014	7,971,904

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Apr 2023	Apr 2022	Apr 2021	Apr 2020	Apr 2019	Apr 2018	Apr 2017	Apr 2016	Apr 2015	Apr 2014	Apr 2013	Apr 2012	Apr 2011	Apr 2010
Tangible Assets	140,493	207,955	274,776	438,682	226,782	130,144	91,197	411,290	649,375	791,458	81,354	479,130	306,425	272,808
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	2,571,100	0	1,100	0	0	0	0	50,000	50,000	50,000	50,000	50,000	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	2,711,593	207,955	274,776	438,682	226,782	130,144	91,197	461,290	699,375	841,458	131,354	529,130	306,425	272,808
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	26,904	62,218
Trade Debtors	34,568,774	25,691,495	11,326,933	14,112,168	40,533,341	42,906,848	32,565,512	34,232,408	23,379,447	17,237,444	14,606,124	12,744,979	9,342,797	8,877,321
Group Debtors	59,930,794	54,404,803	106,733,328	107,500,815	96,857,599	84,792,827	83,681,370	92,201,075	79,730,468	76,100,411	94,385,780	58,290,412	42,724,913	30,511,508
Misc Debtors	36,978,232	20,671,429	7,298,653	5,844,675	8,915,095	7,833,361	16,355,605	3,946,275	3,808,828	3,403,874	4,136,492	2,139,458	861,371	717,061
Cash	687,413	6,001,906	1,991,302	17,742,587	21,601,488	15,684,732	12,081,570	2,942,506	5,625,513	4,923,892	4,215,101	2,177,197	2,931,002	3,516,991
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	132,165,213	106,769,633	127,350,216	145,200,245	167,907,523	151,217,768	144,684,057	133,322,264	112,544,256	101,665,621	117,343,497	75,352,046	55,886,987	43,685,099
total assets	134,876,806	106,977,588	127,624,992	145,638,927	168,134,305	151,347,912	144,775,254	133,783,554	113,243,631	102,507,079	117,474,851	75,881,176	56,193,412	43,957,907
Bank overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	9,286,945	23,092,189	8,978,017	15,756,896	25,429,706	22,092,607	15,975,592	7,840,053	5,204,244	723,386	714,782	1,652,795	1,470,662	1,966,246
Group/Directors Accounts	25,247,676	0	0	0	0	0	0	51,849,122	49,067,535	45,021,374	71,484,797	37,147,758	26,701,595	21,400,440
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	69,653,625	45,681,566	30,633,202	49,124,331	69,963,209	66,989,567	73,838,960	32,250,897	23,617,430	22,740,280	20,197,971	17,041,457	15,341,849	13,336,678
total current liabilities	104,188,246	68,773,755	39,611,219	64,881,227	95,392,915	89,082,174	89,814,552	91,940,072	77,889,209	68,485,040	92,397,550	55,842,010	43,514,106	36,703,364
loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
provisions	1,995,000	9,551,400	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	1,995,000	4,775,700	0	0	0	0	0	0	0	0	0	0	0	0
total liabilities	106,183,246	73,549,455	39,611,219	64,881,227	95,392,915	89,082,174	89,814,552	91,940,072	77,889,209	68,485,040	92,397,550	55,842,010	43,514,106	36,703,364
net assets	28,693,560	33,428,133	88,013,773	80,757,700	72,741,390	62,265,738	54,960,702	41,843,482	35,354,422	34,022,039	25,077,301	20,039,166	12,679,306	7,254,543
total shareholders funds	28,693,560	33,428,133	88,013,773	80,757,700	72,741,390	62,265,738	54,960,702	41,843,482	35,354,422	34,022,039	25,077,301	20,039,166	12,679,306	7,254,543

	Apr 2023	Apr 2022	Apr 2021	Apr 2020	Apr 2019	Apr 2018	Apr 2017	Apr 2016	Apr 2015	Apr 2014	Apr 2013	Apr 2012	Apr 2011	Apr 2010
Operating Activities
Operating Profit	13,848,932	5,877,673	8,783,826	9,284,758	12,523,236	8,875,301	13,584,056	8,125,017	1,821,572	11,459,781	6,630,093	9,924,241	7,538,453	7,834,921
Depreciation	153,053	171,080	208,973	116,797	94,274	82,020	320,093	348,989	307,083	53,542	5,677	238,015	198,561	136,983
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-2,836,175	-1,311,455	-1,703,320	-1,838,061	-2,487,038	-1,751,053	-2,821,027	-1,690,714	-491,222	-2,523,694	-1,590,469	-2,565,334	-2,114,608	-2,197,063
Stock	0	0	0	0	0	0	0	0	0	0	0	-26,904	-35,314	62,218
Debtors	30,710,073	-24,591,187	-2,098,744	-18,848,377	10,772,999	2,930,549	2,222,729	23,461,015	10,177,014	-16,386,667	39,953,547	20,245,768	12,823,191	40,105,890
Creditors	-13,805,244	14,114,172	-6,778,879	-9,672,810	3,337,099	6,117,015	8,135,539	2,635,809	4,480,858	8,604	-938,013	182,133	-495,584	1,966,246
Accruals and Deferred Income	23,972,059	15,048,364	-18,491,129	-20,838,878	2,973,642	-6,849,393	41,588,063	8,633,467	877,150	2,542,309	3,156,514	1,699,608	2,005,171	13,336,678
Deferred Taxes & Provisions	-7,556,400	9,551,400	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	-16,933,848	68,042,421	-15,881,785	-4,099,817	5,668,214	3,543,341	58,583,995	-5,408,447	-3,181,573	27,927,209	-32,689,745	-10,740,201	-5,655,884	-19,090,343
Investing Activities
capital expenditure	-85,591	-104,259	-45,067	-328,697	-190,912	-120,967	0	-110,904	-165,000	-763,646	392,099	-410,720	-232,178	-185,955
Change in Investments	2,571,100	-1,100	1,100	0	0	0	-50,000	0	0	0	0	50,000	0	0
cash flow from investments	-2,656,691	-103,159	-46,167	-328,697	-190,912	-120,967	50,000	-110,904	-165,000	-763,646	392,099	-460,720	-232,178	-185,955
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	25,247,676	0	0	0	0	0	-51,849,122	2,781,587	4,046,161	-26,463,423	34,337,039	10,446,163	5,301,155	21,400,440
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	0	0	0	0	0	0	1,967,768	0	199,996	13,940	-2,596	0	0	1,615,650
interest	980,375	848,142	175,567	569,613	439,454	180,788	336,424	54,757	2,033	-5,289	1,107	953	918	1,035
cash flow from financing	26,228,051	848,142	175,567	569,613	439,454	180,788	-49,544,930	2,836,344	4,248,190	-26,454,772	34,335,550	10,447,116	5,302,073	23,017,125
cash and cash equivalents
cash	-5,314,493	4,010,604	-15,751,285	-3,858,901	5,916,756	3,603,162	9,139,064	-2,683,007	701,621	708,791	2,037,904	-753,805	-585,989	3,516,991
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	-5,314,493	4,010,604	-15,751,285	-3,858,901	5,916,756	3,603,162	9,139,064	-2,683,007	701,621	708,791	2,037,904	-753,805	-585,989	3,516,991

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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PRIORITY PASS LIMITED group structure

Priority Pass Limited has 1 subsidiary company.

Ultimate parent company

PARMINDER LTD

#0013998

PRIORITY TRAVEL GROUP (HOLDINGS) LIMITED

06309844

2 parents

PRIORITY PASS LIMITED

02728518

1 subsidiary

PRIORITY PASS (FAR EAST) LIMITED

07917984

PRIORITY PASS LIMITED Shareholders

priority travel group (holdings) limited

100%

Priority Pass Limited currently has 3 directors. The longest serving directors include Mr Colin Evans (Jul 1992) and Mr Christopher Evans (Jan 2022).

officer	country	age	start	end	role
Mr Colin Evans	United Kingdom	77 years	Jul 1992	-	Director
Mr Christopher Evans	United Kingdom	49 years	Jan 2022	-	Director
Mr Christopher Ross	United Kingdom	57 years	Mar 2022	-	Director

P&L

April 2023

turnover

451.7m

+79%

operating profit

13.8m

+136%

gross margin

11.6%

-2.19%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

April 2023

net assets

28.7m

-0.14%

total assets

134.9m

+0.26%

cash

687.4k

-0.89%

net assets

Total assets minus all liabilities

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company number

02728518

Type

Private limited with Share Capital

industry

94990 - Activities of other membership organisations n.e.c.

incorporation date

July 1992

ultimate parent company

PARMINDER LTD

previous names

assistsolve limited (July 1992)

address

3 more london riverside, 5th floor, london, SE1 2AQ

A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.

We found 6 charges/mortgages relating to priority pass limited. Currently there are 2 open charges and 4 have been satisfied in the past.

priority pass limited Company Information

priority pass limited Estimated Valuation

priority pass limited Estimated Valuation

priority pass limited Estimated Valuation

Priority Pass Limited Overview

Priority Pass Limited Health Check

PRIORITY PASS LIMITED financials

priority pass limited Credit Report and Business Information

Priority Pass Limited Competitor Analysis

priority pass limited Ownership

priority pass limited directors

priority pass limited company details

priority pass limited Charges & Mortgages

priority pass limited Companies House Filings - See Documents