first rate exchange services holdings limitedEstimated Valuation
£427.2m
Pomanda estimates the enterprise value of FIRST RATE EXCHANGE SERVICES HOLDINGS LIMITED at £427.2m based on a Turnover of £164.3m and 2.6x industry multiple (adjusted for size and gross margin).
first rate exchange services holdings limitedEstimated Valuation
£798.8m
Pomanda estimates the enterprise value of FIRST RATE EXCHANGE SERVICES HOLDINGS LIMITED at £798.8m based on an EBITDA of £71.8m and a 11.12x industry multiple (adjusted for size and gross margin).
first rate exchange services holdings limitedEstimated Valuation
£240m
Pomanda estimates the enterprise value of FIRST RATE EXCHANGE SERVICES HOLDINGS LIMITED at £240m based on Net Assets of £140.7m and 1.71x industry multiple (adjusted for liquidity).
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First Rate Exchange Services Holdings LimitedOverview
First Rate Exchange Services Holdings Limited is a live company located in brentford, TW8 9DF with a Companies House number of 04287534. It operates in the activities of financial services holding companies sector, SIC Code 64205. Founded in September 2001, it's largest shareholder is
post office ltd
with a 50% stake. First Rate Exchange Services Holdings Limited is a mature,
mega sized company, Pomanda has estimated its turnover at
£164.3m with
rapid
growth in recent years.
First Rate Exchange Services Holdings Limited Health Check
Pomanda's financial health check has awarded First Rate Exchange Services Holdings Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 8 measures and has 3 areas for improvement. Company Health Check FAQs
Health Rating5out of 5
8 Strong
1 Regular
3 Weak
Size
annual sales of £164.3m, make it larger than the average company (£6.8m)
£164.3m - First Rate Exchange Services Holdings Limited
£6.8m - Industry AVG
Growth
3 year (CAGR) sales growth of 68%, show it is growing at a faster rate (8.1%)
68% - First Rate Exchange Services Holdings Limited
8.1% - Industry AVG
Production
with a gross margin of 76.7%, this company has a lower cost of product (56.8%)
76.7% - First Rate Exchange Services Holdings Limited
56.8% - Industry AVG
Profitability
an operating margin of 42.2% make it more profitable than the average company (7.3%)
42.2% - First Rate Exchange Services Holdings Limited
7.3% - Industry AVG
Employees
with 246 employees, this is above the industry average (32)
246 - First Rate Exchange Services Holdings Limited
32 - Industry AVG
Pay Structure
on an average salary of £95.7k, the company has a higher pay structure (£68.1k)
£95.7k - First Rate Exchange Services Holdings Limited
£68.1k - Industry AVG
Efficiency
resulting in sales per employee of £667.8k, this is more efficient (£187.7k)
£667.8k - First Rate Exchange Services Holdings Limited
£187.7k - Industry AVG
Debtor Days
it gets paid by customers after 276 days, this is later than average (37 days)
276 days - First Rate Exchange Services Holdings Limited
37 days - Industry AVG
Creditor Days
its suppliers are paid after 1466 days, this is slower than average (40 days)
1466 days - First Rate Exchange Services Holdings Limited
40 days - Industry AVG
Stock Days
it holds stock equivalent to 8 days, this is less than average (32 days)
8 days - First Rate Exchange Services Holdings Limited
32 days - Industry AVG
Cash Balance
has cash to cover current liabilities
for 32 weeks, this is average cash available to meet short term requirements (27 weeks)
32 weeks - First Rate Exchange Services Holdings Limited
27 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 70.6%, this is a higher level of debt than the average (61.6%)
70.6% - First Rate Exchange Services Holdings Limited
61.6% - Industry AVG
FIRST RATE EXCHANGE SERVICES HOLDINGS LIMITED financials
EXPORT
First Rate Exchange Services Holdings Limited's latest turnover from March 2024 is £164.3 million and the company has net assets of £140.7 million. According to their latest financial statements, First Rate Exchange Services Holdings Limited has 246 employees and maintains cash reserves of £210.8 million as reported in the balance sheet.
Data source:Companies House, Pomanda Estimates
Mar 2024
Mar 2023
Mar 2022
Mar 2021
Mar 2020
Mar 2019
Mar 2018
Mar 2017
Mar 2016
Mar 2015
Mar 2014
Mar 2013
Mar 2012
Mar 2011
Mar 2010
Turnover
164,288,000
166,202,000
68,611,000
34,913,000
153,856,000
163,978,000
167,960,000
164,047,000
156,841,000
164,266,000
153,475,000
149,281,000
150,705,000
148,634,000
151,346,000
Other Income Or Grants
Cost Of Sales
38,351,000
35,956,000
24,872,000
21,538,000
31,378,000
27,711,000
28,139,000
27,398,000
23,862,000
24,484,000
23,789,000
23,466,000
24,153,000
29,231,000
29,980,000
Gross Profit
125,937,000
130,246,000
43,739,000
13,375,000
122,478,000
136,267,000
139,821,000
136,649,000
132,979,000
139,782,000
129,686,000
125,815,000
126,552,000
119,403,000
121,366,000
Admin Expenses
56,565,000
56,005,000
34,955,000
32,402,000
51,312,000
51,808,000
52,512,000
49,442,000
42,103,000
47,135,000
42,210,000
39,812,000
40,360,000
37,460,000
34,794,000
Operating Profit
69,372,000
74,241,000
8,784,000
-19,027,000
71,166,000
84,459,000
87,309,000
87,207,000
90,876,000
92,647,000
87,476,000
86,003,000
86,192,000
81,943,000
86,572,000
Interest Payable
5,814,000
4,574,000
1,464,000
1,431,000
3,450,000
3,466,000
2,444,000
2,010,000
2,064,000
1,743,000
1,571,000
1,609,000
2,033,000
1,244,000
1,505,000
Interest Receivable
3,428,000
1,304,000
194,000
1,646,000
2,300,000
223,000
151,000
314,000
510,000
224,000
253,000
369,000
361,000
109,000
741,000
Pre-Tax Profit
66,986,000
70,971,000
7,514,000
-18,812,000
70,016,000
81,216,000
85,016,000
85,511,000
89,322,000
91,128,000
86,158,000
84,763,000
84,520,000
80,808,000
85,808,000
Tax
-17,183,000
-13,582,000
-1,401,000
3,176,000
-13,291,000
-15,464,000
-16,156,000
-17,198,000
-17,952,000
-19,157,000
-19,974,000
-20,423,000
-22,179,000
-22,863,000
-24,511,000
Profit After Tax
49,803,000
57,389,000
6,113,000
-15,636,000
56,725,000
65,752,000
68,860,000
68,313,000
71,370,000
71,971,000
66,184,000
64,340,000
62,341,000
57,945,000
61,297,000
Dividends Paid
28,000,000
55,000,000
65,000,000
68,000,000
70,000,000
69,700,000
60,000,000
60,000,000
65,000,000
60,000,000
50,000,000
60,000,000
Retained Profit
49,803,000
57,389,000
6,113,000
-43,636,000
1,725,000
752,000
860,000
-1,687,000
1,670,000
11,971,000
6,184,000
-660,000
2,341,000
7,945,000
1,297,000
Employee Costs
23,535,000
21,948,000
15,463,000
14,079,000
18,338,000
19,031,000
20,286,000
18,167,000
17,133,000
16,127,000
14,179,000
13,546,000
14,347,000
11,989,000
13,391,000
Number Of Employees
246
224
193
220
251
264
282
256
246
243
221
221
218
220
231
EBITDA*
71,808,000
76,970,000
13,175,000
-12,772,000
74,740,000
88,056,000
90,675,000
89,230,000
93,500,000
95,198,000
90,156,000
88,012,000
87,605,000
83,385,000
87,931,000
* Earnings Before Interest, Tax, Depreciation and Amortisation
Mar 2024
Mar 2023
Mar 2022
Mar 2021
Mar 2020
Mar 2019
Mar 2018
Mar 2017
Mar 2016
Mar 2015
Mar 2014
Mar 2013
Mar 2012
Mar 2011
Mar 2010
Tangible Assets
2,615,000
1,893,000
2,030,000
2,534,000
3,179,000
1,407,000
1,638,000
2,145,000
1,805,000
2,304,000
3,207,000
1,882,000
2,028,000
1,990,000
2,611,000
Intangible Assets
5,145,000
5,739,000
9,591,000
12,922,000
15,694,000
14,056,000
15,851,000
12,563,000
9,765,000
9,199,000
6,667,000
5,606,000
5,284,000
3,732,000
3,235,000
Investments & Other
Debtors (Due After 1 year)
340,000
426,000
363,000
288,000
384,000
Total Fixed Assets
7,420,000
7,206,000
11,258,000
15,168,000
18,873,000
15,463,000
17,489,000
14,708,000
11,570,000
11,503,000
9,874,000
7,488,000
7,312,000
5,722,000
5,846,000
Stock & work in progress
895,000
770,000
525,000
501,000
701,000
692,000
826,000
210,053,000
219,282,000
218,677,000
206,413,000
175,823,000
249,066,000
212,022,000
197,627,000
Trade Debtors
124,431,000
149,408,000
149,731,000
35,002,000
17,134,000
81,942,000
146,510,000
103,490,000
88,250,000
85,824,000
102,892,000
128,139,000
89,063,000
61,265,000
59,083,000
Group Debtors
Misc Debtors
1,602,000
1,302,000
1,091,000
1,508,000
1,608,000
1,845,000
1,477,000
1,259,000
995,000
1,225,000
831,000
853,000
809,000
709,000
Cash
210,766,000
224,283,000
202,296,000
201,894,000
218,337,000
261,796,000
245,799,000
40,171,000
33,680,000
38,990,000
38,198,000
60,097,000
20,715,000
26,966,000
86,618,000
misc current assets
133,878,000
137,897,000
100,524,000
94,311,000
92,280,000
84,820,000
74,037,000
88,760,000
31,005,000
599,000
371,000
1,745,000
637,000
10,000
914,000
total current assets
471,945,000
513,660,000
454,167,000
333,216,000
330,060,000
431,095,000
467,172,000
443,951,000
373,476,000
345,085,000
349,099,000
366,635,000
360,334,000
301,072,000
344,951,000
total assets
479,365,000
520,866,000
465,425,000
348,384,000
348,933,000
446,558,000
484,661,000
458,659,000
385,046,000
356,588,000
358,973,000
374,123,000
367,646,000
306,794,000
350,797,000
Bank overdraft
100,361,000
75,310,000
97,257,000
Bank loan
130,324,000
111,237,000
121,235,000
Trade Creditors
154,053,000
167,711,000
139,306,000
84,673,000
12,435,000
91,143,000
140,559,000
120,192,000
103,211,000
86,584,000
95,278,000
102,098,000
107,144,000
52,786,000
74,634,000
Group/Directors Accounts
other short term finances
57,203,000
80,850,000
119,547,000
80,003,000
92,043,000
117,320,000
28,000
117,818,000
116,730,000
106,054,000
26,000
1,592,000
19,000
hp & lease commitments
429,000
other current liabilities
126,886,000
122,883,000
108,119,000
90,949,000
107,220,000
104,421,000
80,828,000
88,587,000
31,356,000
31,871,000
92,350,000
96,866,000
85,531,000
79,863,000
89,589,000
total current liabilities
338,142,000
371,444,000
366,972,000
255,625,000
212,127,000
312,884,000
351,739,000
326,597,000
251,297,000
224,509,000
298,865,000
320,199,000
293,062,000
209,551,000
261,499,000
loans
950,000
314,000
1,154,000
1,992,000
2,814,000
hp & lease commitments
475,000
157,000
577,000
996,000
1,407,000
Accruals and Deferred Income
other liabilities
provisions
total long term liabilities
475,000
157,000
577,000
996,000
1,407,000
total liabilities
338,617,000
371,601,000
367,549,000
256,621,000
213,534,000
312,884,000
351,739,000
326,597,000
251,297,000
224,509,000
298,865,000
320,199,000
293,062,000
209,551,000
261,499,000
net assets
140,748,000
149,265,000
97,876,000
91,763,000
135,399,000
133,674,000
132,922,000
132,062,000
133,749,000
132,079,000
60,108,000
53,924,000
74,584,000
97,243,000
89,298,000
total shareholders funds
140,748,000
149,265,000
97,876,000
91,763,000
135,399,000
133,674,000
132,922,000
132,062,000
133,749,000
132,079,000
60,108,000
53,924,000
74,584,000
97,243,000
89,298,000
Mar 2024
Mar 2023
Mar 2022
Mar 2021
Mar 2020
Mar 2019
Mar 2018
Mar 2017
Mar 2016
Mar 2015
Mar 2014
Mar 2013
Mar 2012
Mar 2011
Mar 2010
Operating Activities
Operating Profit
69,372,000
74,241,000
8,784,000
-19,027,000
71,166,000
84,459,000
87,309,000
87,207,000
90,876,000
92,647,000
87,476,000
86,003,000
86,192,000
81,943,000
86,572,000
Depreciation
680,000
680,000
749,000
929,000
761,000
602,000
833,000
632,000
755,000
722,000
630,000
572,000
449,000
616,000
569,000
Amortisation
1,756,000
2,049,000
3,642,000
5,326,000
2,813,000
2,995,000
2,533,000
1,391,000
1,869,000
1,829,000
2,050,000
1,437,000
964,000
826,000
790,000
Tax
-17,183,000
-13,582,000
-1,401,000
3,176,000
-13,291,000
-15,464,000
-16,156,000
-17,198,000
-17,952,000
-19,157,000
-19,974,000
-20,423,000
-22,179,000
-22,863,000
-24,511,000
Stock
125,000
245,000
24,000
-200,000
9,000
-134,000
-209,227,000
-9,229,000
605,000
12,264,000
30,590,000
-73,243,000
37,044,000
14,395,000
197,627,000
Debtors
-24,763,000
-49,000
114,387,000
17,672,000
-64,661,000
-62,723,000
41,543,000
15,458,000
2,690,000
-17,298,000
-24,853,000
39,054,000
27,842,000
2,282,000
59,792,000
Creditors
-13,658,000
28,405,000
54,633,000
72,238,000
-78,708,000
-49,416,000
20,367,000
16,981,000
16,627,000
-8,694,000
-6,820,000
-5,046,000
54,358,000
-21,848,000
74,634,000
Accruals and Deferred Income
4,003,000
14,764,000
17,170,000
-16,271,000
2,799,000
23,593,000
-7,759,000
57,231,000
-515,000
-60,479,000
-4,516,000
11,335,000
5,668,000
-9,726,000
89,589,000
Deferred Taxes & Provisions
Cash flow from operations
69,608,000
106,361,000
-30,834,000
28,899,000
50,192,000
109,626,000
254,811,000
140,015,000
88,365,000
11,902,000
53,109,000
108,067,000
60,566,000
12,271,000
-29,776,000
Investing Activities
capital expenditure
-2,564,000
1,260,000
-556,000
-2,838,000
-6,984,000
-1,571,000
-6,147,000
-5,161,000
-2,691,000
-4,180,000
-5,066,000
-2,185,000
-3,003,000
-1,318,000
-7,205,000
Change in Investments
cash flow from investments
-2,564,000
1,260,000
-556,000
-2,838,000
-6,984,000
-1,571,000
-6,147,000
-5,161,000
-2,691,000
-4,180,000
-5,066,000
-2,185,000
-3,003,000
-1,318,000
-7,205,000
Financing Activities
Bank loans
-130,324,000
130,324,000
-111,237,000
-9,998,000
121,235,000
Group/Directors Accounts
Other Short Term Loans
-23,647,000
-38,697,000
39,544,000
-12,040,000
-25,277,000
117,292,000
-117,790,000
1,088,000
10,676,000
106,054,000
-26,000
-1,566,000
1,573,000
19,000
Long term loans
636,000
-840,000
-838,000
-822,000
2,814,000
Hire Purchase and Lease Commitments
318,000
-420,000
-419,000
-840,000
1,836,000
other long term liabilities
share issue
-58,320,000
-6,000,000
60,000,000
-20,000,000
-25,000,000
88,001,000
interest
-2,386,000
-3,270,000
-1,270,000
215,000
-1,150,000
-3,243,000
-2,293,000
-1,696,000
-1,554,000
-1,519,000
-1,318,000
-1,240,000
-1,672,000
-1,135,000
-764,000
cash flow from financing
-83,399,000
-49,227,000
37,017,000
-13,487,000
-21,777,000
-16,275,000
10,241,000
-608,000
9,122,000
53,298,000
-11,316,000
99,969,000
-28,238,000
438,000
87,256,000
cash and cash equivalents
cash
-13,517,000
21,987,000
402,000
-16,443,000
-43,459,000
15,997,000
205,628,000
6,491,000
-5,310,000
792,000
-21,899,000
39,382,000
-6,251,000
-59,652,000
86,618,000
overdraft
-100,361,000
25,051,000
-21,947,000
97,257,000
change in cash
-13,517,000
21,987,000
402,000
-16,443,000
-43,459,000
15,997,000
205,628,000
6,491,000
-5,310,000
792,000
-21,899,000
139,743,000
-31,302,000
-37,705,000
-10,639,000
first rate exchange services holdings limited Credit Report and Business Information
Very Low Risk70 - 100
Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
Get a comprehensive credit check for first rate exchange services holdings limited. Get real-time insights into first rate exchange services holdings limited's credit score, group structure and payment trends.
First Rate Exchange Services Holdings Limited Competitor Analysis
Perform a competitor analysis for first rate exchange services holdings limited by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other mega companies, companies in TW8 area or any other competitors across 12 key performance metrics.
first rate exchange services holdings limited Ownership
FIRST RATE EXCHANGE SERVICES HOLDINGS LIMITED group structure
First Rate Exchange Services Holdings Limited has 1 subsidiary company.
FIRST RATE EXCHANGE SERVICES HOLDINGS LIMITED Shareholders
The largest shareholders in First Rate Exchange Services Holdings Limited include Post Office Ltd and Bank Of Ireland (Uk) Plc.
post office ltd
50%
bank of ireland (uk) plc
50%
first rate exchange services holdings limited directors
First Rate Exchange Services Holdings Limited currently has 12 directors.
The longest serving directors include
Mr Andrew Hardie (May 2011) and
Mr Gary Fitton (Jun 2012).
first rate exchange services holdings limited company details
company number
04287534
Type
Private limited with Share Capital
industry
82990 - Other business support service activities n.e.c.
64205 - Activities of financial services holding companies
64999 - Other financial service activities, except insurance and pension funding, (not including security dealing on own account and factoring) n.e.c.
incorporation date
September 2001
age
24
incorporated
UK
ultimate parent company
None
accounts
Group
last accounts submitted
March 2024
previous names
first rate travel services holdings limited (March 2006)
frts 1 limited (June 2002)
accountant
-
auditor
RSM UK AUDIT LLP
address
great west house, great west road, brentford, london, TW8 9DF
Bank
-
Legal Advisor
-
first rate exchange services holdings limited Charges & Mortgages
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 did not find charges/mortgages relating to first rate exchange services holdings limited.
first rate exchange services holdings limited Capital Raised & Share Issues BETA
When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.
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first rate exchange services holdings limitedCompanies House Filings - See Documents
