Velos Insurance Services Limited

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velos insurance services limited Company Information

Live

MatureMidRapid

Company Number

03484670

Website

http://www.velosinsurance.co.uk

Registered Address

5 market yard mews, 194-204 bermondsey street, london, SE1 3TQ

Industry

Non-life insurance

Telephone

02079294058

Next Accounts Due

September 2025

Group Structure

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Directors

Stephan Velliades20 Years

Shareholders

stephan velliades 59.5%

dominique velliades 15.8%

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velos insurance services limited Estimated Valuation

£5.2m

Pomanda estimates the enterprise value of VELOS INSURANCE SERVICES LIMITED at £5.2m based on a Turnover of £7.5m and 0.69x industry multiple (adjusted for size and gross margin).

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Velos Insurance Services Limited is a live company located in london, SE1 3TQ with a Companies House number of 03484670. It operates in the non-life insurance sector, SIC Code 65120. Founded in December 1997, it's largest shareholder is stephan velliades with a 59.5% stake. Velos Insurance Services Limited is a mature, mid sized company, Pomanda has estimated its turnover at £7.5m with rapid growth in recent years.

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

Health Rating4out of 5

4 Strong

3 Regular

4 Weak

Size

annual sales of £7.5m, make it larger than the average company (£2.6m)

Growth

3 year (CAGR) sales growth of 66%, show it is growing at a faster rate (8.1%)

EXPORT

Velos Insurance Services Limited's latest turnover from December 2023 is estimated at £7.5 million and the company has net assets of £400.3 thousand. According to their latest financial statements, Velos Insurance Services Limited has 12 employees and maintains cash reserves of £2.6 million as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Turnover	7,543,645	3,046,893	1,780,801	1,660,686	2,089,102	1,932,797	2,145,327	2,103,163	1,222,777	604,390	916,430	514,351	214,804	565,793	581,799
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	46,736	58,999	44,518	43,289	92,141	80,149	130,433	170,541	121,904	104,632	217,095	127,706	56,704	157,548	0
Gross Profit	7,496,909	2,987,894	1,736,283	1,617,397	1,996,960	1,852,648	2,014,894	1,932,622	1,100,874	499,758	699,334	386,645	158,100	408,245	0
Admin Expenses	7,257,218	3,062,212	1,717,292	1,607,126	1,973,358	1,818,339	2,025,750	1,871,879	1,092,255	573,198	840,747	463,135	263,063	323,580	-73,431
Operating Profit	239,691	-74,318	18,991	10,271	23,602	34,309	-10,856	60,743	8,619	-73,440	-141,413	-76,490	-104,963	84,665	73,431
Interest Payable	0	0	0	0	0	655	1,429	767	0	0	0	0	1,100	0	0
Interest Receivable	130,118	57,053	1,317	436	3,161	3,884	3,041	1,001	1,004	590	761	1,233	2,333	840	454
Pre-Tax Profit	369,809	-17,265	20,307	10,706	26,763	37,538	-9,244	60,976	9,624	-72,850	-140,652	-75,257	-103,730	85,505	73,885
Tax	-92,452	0	-3,858	-2,034	-5,085	-7,132	0	-12,195	-1,925	0	0	0	0	-176	-95
Profit After Tax	277,357	-17,265	16,449	8,672	21,678	30,406	-9,244	48,781	7,699	-72,850	-140,652	-75,257	-103,730	85,329	73,790
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	277,357	-17,265	16,449	8,672	21,678	30,406	-9,244	48,781	7,699	-72,850	-140,652	-75,257	-103,730	85,329	73,790
Employee Costs	798,319	660,448	643,356	491,811	546,875	553,299	541,571	471,134	467,113	265,274	356,553	198,832	100,721	240,466	0
Number Of Employees	12	11	11	9	10	10	10	9	9	5	7	4	2	5	0
EBITDA*	244,059	-68,493	47,008	17,943	38,574	51,683	4,182	73,689	23,976	-54,877	-118,577	-57,310	-95,362	84,665	73,431

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Tangible Assets	0	17,474	8,802	36,819	44,491	59,463	27,761	27,784	40,730	56,087	74,650	57,541	28,804	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	0	17,474	8,802	36,819	44,491	59,463	27,761	27,784	40,730	56,087	74,650	57,541	28,804	0	0
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	6,107,144	2,447,016	1,218,905	1,122,408	1,435,035	1,302,776	1,448,497	1,460,321	705,079	327,535	504,685	275,093	111,186	119,415	32,207
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	25,600	6,513	71,804	71,877	22,746	14,493	120,745	92,617	86,418	0	0	0	0	39,786	61,133
Cash	2,633,084	2,571,646	688,548	364,882	506,457	336,511	699,266	517,048	283,567	118,150	117,767	186,571	306,648	626,679	98,333
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	8,765,828	5,025,175	1,979,257	1,559,167	1,964,238	1,653,780	2,268,508	2,069,986	1,075,064	445,685	622,452	461,664	417,834	785,880	191,673
total assets	8,765,828	5,042,649	1,988,059	1,595,986	2,008,729	1,713,243	2,296,269	2,097,770	1,115,794	501,772	697,102	519,205	446,638	785,880	191,673
Bank overdraft	0	0	0	0	0	0	19,413	24,551	0	0	0	0	0	33,848	17,746
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	7,760,111	4,452,761	1,759,387	1,350,889	1,832,707	1,562,539	1,784,824	1,939,799	1,050,270	459,267	606,747	496,597	348,773	505,889	30,566
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	0	0	0	12,450	8,950
other short term finances	0	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	0
other current liabilities	605,426	466,954	88,473	121,347	60,944	57,304	429,038	61,182	42,067	0	0	0	0	32,098	18,095
total current liabilities	8,365,537	4,919,715	1,847,860	1,472,236	1,893,651	1,619,843	2,233,275	2,025,532	1,092,337	459,267	606,747	496,597	348,773	584,285	75,357
loans	0	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	0
Accruals and Deferred Income	0	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	26,747	56,747	0	0	0	0
provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	0	0	0	0	0	0	0	0	0	26,747	56,747	0	0	0	0
total liabilities	8,365,537	4,919,715	1,847,860	1,472,236	1,893,651	1,619,843	2,233,275	2,025,532	1,092,337	486,014	663,494	496,597	348,773	584,285	75,357
net assets	400,291	122,934	140,199	123,750	115,078	93,400	62,994	72,238	23,457	15,758	33,608	22,608	97,865	201,595	116,316
total shareholders funds	400,291	122,934	140,199	123,750	115,078	93,400	62,994	72,238	23,457	15,758	33,608	22,608	97,865	201,595	116,316

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Operating Activities
Operating Profit	239,691	-74,318	18,991	10,271	23,602	34,309	-10,856	60,743	8,619	-73,440	-141,413	-76,490	-104,963	84,665	73,431
Depreciation	4,368	5,825	28,017	7,672	14,972	17,374	15,038	12,946	15,357	18,563	22,836	19,180	9,601	0	0
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-92,452	0	-3,858	-2,034	-5,085	-7,132	0	-12,195	-1,925	0	0	0	0	-176	-95
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	3,679,215	1,162,820	96,424	-263,496	140,512	-251,973	16,304	761,441	463,962	-177,150	229,592	163,907	-48,015	65,861	93,340
Creditors	3,307,350	2,693,374	408,498	-481,818	270,168	-222,285	-154,975	889,529	591,003	-147,480	110,150	147,824	-157,116	475,323	30,566
Accruals and Deferred Income	138,472	378,481	-32,874	60,403	3,640	-371,734	367,856	19,115	42,067	0	0	0	-32,098	14,003	18,095
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	-81,786	1,840,542	322,350	-142,010	166,785	-297,495	200,759	208,697	191,159	-25,207	-238,019	-73,393	-236,561	507,954	28,657
Investing Activities
capital expenditure	13,106	-14,497	0	0	0	-49,076	-15,015	0	0	0	-39,945	-47,917	-38,405	0	0
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	13,106	-14,497	0	0	0	-49,076	-15,015	0	0	0	-39,945	-47,917	-38,405	0	0
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	0	0	-12,450	3,500	8,950
Other Short Term Loans	0	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	0
Hire Purchase and Lease Commitments	0	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	-26,747	-30,000	56,747	0	0	0	0
share issue	0	0	0	0	0	0	0	0	0	55,000	151,652	0	0	-50	42,526
interest	130,118	57,053	1,317	436	3,161	3,229	1,612	234	1,004	590	761	1,233	1,233	840	454
cash flow from financing	130,118	57,053	1,317	436	3,161	3,229	1,612	234	-25,743	25,590	209,160	1,233	-11,217	4,290	51,930
cash and cash equivalents
cash	61,438	1,883,098	323,666	-141,575	169,946	-362,755	182,218	233,481	165,417	383	-68,804	-120,077	-320,031	528,346	98,333
overdraft	0	0	0	0	0	-19,413	-5,138	24,551	0	0	0	0	-33,848	16,102	17,746
change in cash	61,438	1,883,098	323,666	-141,575	169,946	-343,342	187,356	208,930	165,417	383	-68,804	-120,077	-286,183	512,244	80,587

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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VELOS INSURANCE SERVICES LIMITED group structure

Velos Insurance Services Limited has no subsidiary companies.

Ultimate parent company

VELOS INSURANCE SERVICES LIMITED

03484670

VELOS INSURANCE SERVICES LIMITED Shareholders

stephan velliades	59.53%
dominique velliades	15.83%
helena velliades	15.83%
paul birch	8.81%

Velos Insurance Services Limited currently has 1 director, Mr Stephan Velliades serving since Jan 2004.

officer	country	age	start	end	role
Mr Stephan Velliades	United Kingdom	49 years	Jan 2004	-	Director

P&L

December 2023

turnover

7.5m

+148%

operating profit

239.7k

gross margin

99.4%

+1.34%

turnover

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

Balance Sheet

December 2023

net assets

400.3k

+2.26%

total assets

8.8m

+0.74%

cash

2.6m

+0.02%

net assets

Total assets minus all liabilities

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company number

03484670

Type

Private limited with Share Capital

industry

65120 - Non-life insurance

incorporation date

December 1997

ultimate parent company

None

previous names

N/A

address

5 market yard mews, 194-204 bermondsey street, london, SE1 3TQ

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 2 charges/mortgages relating to velos insurance services limited. Currently there are 1 open charges and 1 have been satisfied in the past.

velos insurance services limited Company Information

velos insurance services limited Estimated Valuation

velos insurance services limited Estimated Valuation

velos insurance services limited Estimated Valuation

Velos Insurance Services Limited Overview

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VELOS INSURANCE SERVICES LIMITED financials

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