tse development limited
tse development limited Company Information
Company Number
05160532
Website
http://betfair.comRegistered Address
one chamberlain square cs, birmingham, B3 3AX
Industry
Other business support service activities n.e.c.
Other information technology and computer service activities
Telephone
02088348000
Next Accounts Due
September 2024
Group Structure
View All
Shareholders
sporting exchange ltd 100%
tse development limited Estimated Valuation
Pomanda estimates the enterprise value of TSE DEVELOPMENT LIMITED at £67.7m based on a Turnover of £33.7m and 2.01x industry multiple (adjusted for size and gross margin).
tse development limited Estimated Valuation
Pomanda estimates the enterprise value of TSE DEVELOPMENT LIMITED at £931.4m based on an EBITDA of £60.3m and a 15.45x industry multiple (adjusted for size and gross margin).
tse development limited Estimated Valuation
Pomanda estimates the enterprise value of TSE DEVELOPMENT LIMITED at £0 based on Net Assets of £-159m and 2.38x industry multiple (adjusted for liquidity).
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Tse Development Limited Overview
Tse Development Limited is a live company located in birmingham, B3 3AX with a Companies House number of 05160532. It operates in the other information technology service activities sector, SIC Code 62090. Founded in June 2004, it's largest shareholder is sporting exchange ltd with a 100% stake. Tse Development Limited is a mature, large sized company, Pomanda has estimated its turnover at £33.7m with healthy growth in recent years.
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Tse Development Limited Health Check
Pomanda's financial health check has awarded Tse Development Limited a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 1 areas for improvement. Company Health Check FAQs
6 Strong
2 Regular
1 Weak
Size
annual sales of £33.7m, make it larger than the average company (£5.2m)
£33.7m - Tse Development Limited
£5.2m - Industry AVG
Growth
3 year (CAGR) sales growth of 7%, show it is growing at a faster rate (4.2%)
7% - Tse Development Limited
4.2% - Industry AVG
Production
with a gross margin of 100%, this company has a lower cost of product (45.4%)
100% - Tse Development Limited
45.4% - Industry AVG
Profitability
an operating margin of 178.7% make it more profitable than the average company (5%)
178.7% - Tse Development Limited
5% - Industry AVG
Employees
with 211 employees, this is above the industry average (34)
- Tse Development Limited
34 - Industry AVG
Pay Structure
There is insufficient data available for this Key Performance Indicator!
- Tse Development Limited
- - Industry AVG
Efficiency
resulting in sales per employee of £159.9k, this is equally as efficient (£159.9k)
- Tse Development Limited
£159.9k - Industry AVG
Debtor Days
it gets paid by customers after 23 days, this is earlier than average (50 days)
23 days - Tse Development Limited
50 days - Industry AVG
Creditor Days
There is insufficient data available for this Key Performance Indicator!
- - Tse Development Limited
- - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Tse Development Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 23 weeks, this is average cash available to meet short term requirements (19 weeks)
23 weeks - Tse Development Limited
19 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 198.2%, this is a higher level of debt than the average (63.5%)
198.2% - Tse Development Limited
63.5% - Industry AVG
TSE DEVELOPMENT LIMITED financials
Tse Development Limited's latest turnover from December 2022 is £33.7 million and the company has net assets of -£159 million. According to their latest financial statements, we estimate that Tse Development Limited has 211 employees and maintains cash reserves of £937 thousand as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Apr 2016 | Apr 2015 | Apr 2014 | Apr 2013 | Apr 2012 | Apr 2011 | Apr 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 33,730,000 | 37,058,000 | 36,737,000 | 27,180,000 | 29,549,000 | 38,528,000 | 24,837,000 | 32,715,000 | 28,095,000 | 22,547,000 | 23,852,000 | 23,593,000 | 21,670,000 | 18,089,000 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | ||||||||||
| Cost Of Sales | 0 | 0 | 238,000 | 81,000 | ||||||||||
| Gross Profit | 33,730,000 | 37,058,000 | 36,499,000 | 27,099,000 | ||||||||||
| Admin Expenses | ||||||||||||||
| Operating Profit | 29,463,000 | 38,498,000 | 24,558,000 | 29,293,000 | -8,924,000 | -28,647,000 | -22,638,000 | -27,291,000 | -25,466,000 | -25,952,000 | ||||
| Interest Payable | 9,364,000 | 6,219,000 | 6,087,000 | 4,684,000 | 4,111,000 | 3,628,000 | 3,290,000 | 5,036,000 | 5,587,000 | 6,253,000 | 8,353,000 | 9,831,000 | 8,213,000 | 7,861,000 |
| Interest Receivable | 249,000 | 234,000 | 92,000 | 0 | 0 | 3,077,000 | 132,000 | 164,000 | 147,000 | 277,000 | 1,887,000 | 2,632,000 | 917,000 | 1,770,000 |
| Pre-Tax Profit | 24,615,000 | 31,073,000 | 30,504,000 | 22,415,000 | 25,352,000 | 37,947,000 | 18,821,000 | 23,721,000 | -15,858,000 | -33,345,000 | -29,661,000 | -34,361,000 | -32,762,000 | -23,043,000 |
| Tax | 39,000 | -1,042,000 | -958,000 | -3,782,000 | -3,276,000 | -5,145,000 | -6,361,000 | 251,000 | -5,365,000 | -3,196,000 | -3,865,000 | 0 | 0 | -1,600,000 |
| Profit After Tax | 24,654,000 | 30,031,000 | 29,546,000 | 18,633,000 | 22,076,000 | 32,802,000 | 12,460,000 | 23,972,000 | -21,223,000 | -36,541,000 | -33,526,000 | -34,361,000 | -32,762,000 | -24,643,000 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Profit | 24,654,000 | 30,031,000 | 29,546,000 | 18,633,000 | 22,076,000 | 32,802,000 | 12,460,000 | 23,972,000 | -21,223,000 | -36,541,000 | -33,526,000 | -34,361,000 | -32,762,000 | -24,643,000 |
| Employee Costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Number Of Employees | ||||||||||||||
| EBITDA* | 29,463,000 | 38,498,000 | 24,558,000 | 29,293,000 | 24,076,000 | 15,353,000 | 21,362,000 | 16,709,000 | 18,534,000 | 18,048,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Apr 2016 | Apr 2015 | Apr 2014 | Apr 2013 | Apr 2012 | Apr 2011 | Apr 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 165,000,000 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 33,000,000 | 77,000,000 | 121,000,000 | 0 | 209,000,000 |
| Investments & Other | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 85,000 | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 33,019,000 | 77,019,000 | 121,085,000 | 165,000,000 | 209,000,000 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 2,199,000 | 1,971,000 | 2,381,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group Debtors | 152,991,000 | 120,725,000 | 85,473,000 | 49,705,000 | 34,241,000 | 37,585,000 | 2,810,000 | 1,352,000 | 1,695,000 | 4,971,000 | 185,165,000 | 161,926,000 | 136,765,000 | 125,043,000 |
| Misc Debtors | 5,789,000 | 5,751,000 | 3,607,000 | 10,429,000 | 5,287,000 | 2,685,000 | 565,000 | 798,000 | 572,000 | 321,000 | 352,000 | 212,000 | 97,000 | 16,000 |
| Cash | 937,000 | 144,000 | 49,000 | 230,000 | 291,000 | 442,000 | 502,000 | 217,000 | 73,000 | 147,000 | 542,000 | 867,000 | 0 | 0 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 161,916,000 | 128,591,000 | 91,510,000 | 60,364,000 | 39,819,000 | 40,712,000 | 3,877,000 | 2,367,000 | 2,340,000 | 5,439,000 | 186,059,000 | 163,005,000 | 136,862,000 | 125,059,000 |
| total assets | 161,935,000 | 128,610,000 | 91,529,000 | 60,383,000 | 39,838,000 | 40,731,000 | 3,896,000 | 2,386,000 | 2,359,000 | 38,458,000 | 263,078,000 | 284,090,000 | 301,862,000 | 334,059,000 |
| 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 | 8,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 1,394,000 | 1,336,000 | 1,540,000 | 5,469,000 | 6,189,000 | 30,681,000 | 52,096,000 | 72,008,000 | 99,564,000 | 370,046,000 | 15,482,000 | 12,660,000 | 5,254,000 | 2,127,000 |
| 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 | 714,000 | 1,316,000 | 267,000 | 808,000 | 2,836,000 | 5,381,000 | 7,113,000 | 670,000 | 906,000 | 399,000 | 1,512,000 | 46,000 | 57,000 | 1,600,000 |
| total current liabilities | 2,116,000 | 2,652,000 | 1,807,000 | 6,277,000 | 9,025,000 | 36,062,000 | 59,209,000 | 72,678,000 | 100,470,000 | 370,445,000 | 16,994,000 | 12,706,000 | 5,311,000 | 3,727,000 |
| loans | 318,855,000 | 309,648,000 | 303,443,000 | 297,373,000 | 292,713,000 | 288,645,000 | 261,465,000 | 258,946,000 | 255,099,000 | 0 | 541,530,000 | 533,304,000 | 524,110,000 | 525,129,000 |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 318,855,000 | 309,648,000 | 303,443,000 | 297,373,000 | 292,713,000 | 288,645,000 | 261,465,000 | 258,946,000 | 255,099,000 | 0 | 541,530,000 | 533,304,000 | 524,110,000 | 525,129,000 |
| total liabilities | 320,971,000 | 312,300,000 | 305,250,000 | 303,650,000 | 301,738,000 | 324,707,000 | 320,674,000 | 331,624,000 | 355,569,000 | 370,445,000 | 558,524,000 | 546,010,000 | 529,421,000 | 528,856,000 |
| net assets | -159,036,000 | -183,690,000 | -213,721,000 | -243,267,000 | -261,900,000 | -283,976,000 | -316,778,000 | -329,238,000 | -353,210,000 | -331,987,000 | -295,446,000 | -261,920,000 | -227,559,000 | -194,797,000 |
| total shareholders funds | -159,036,000 | -183,690,000 | -213,721,000 | -243,267,000 | -261,900,000 | -283,976,000 | -316,778,000 | -329,238,000 | -353,210,000 | -331,987,000 | -295,446,000 | -261,920,000 | -227,559,000 | -194,797,000 |
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Apr 2016 | Apr 2015 | Apr 2014 | Apr 2013 | Apr 2012 | Apr 2011 | Apr 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||
| Operating Profit | 29,463,000 | 38,498,000 | 24,558,000 | 29,293,000 | -8,924,000 | -28,647,000 | -22,638,000 | -27,291,000 | -25,466,000 | -25,952,000 | ||||
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 33,000,000 | 44,000,000 | 44,000,000 | 44,000,000 | 44,000,000 | 44,000,000 |
| Tax | 39,000 | -1,042,000 | -958,000 | -3,782,000 | -3,276,000 | -5,145,000 | -6,361,000 | 251,000 | -5,365,000 | -3,196,000 | -3,865,000 | 0 | 0 | -1,600,000 |
| Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors | 32,532,000 | 36,986,000 | 31,327,000 | 20,606,000 | -742,000 | 36,895,000 | 1,108,000 | -117,000 | -3,025,000 | -180,225,000 | 23,379,000 | 25,276,000 | 11,803,000 | 125,059,000 |
| Creditors | 8,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | -602,000 | 1,049,000 | -541,000 | -2,028,000 | -2,545,000 | -1,732,000 | 6,207,000 | -236,000 | 507,000 | -1,113,000 | 1,466,000 | -11,000 | -1,543,000 | 1,600,000 |
| Deferred Taxes & Provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow from operations | 24,384,000 | -5,274,000 | 23,296,000 | 29,425,000 | 22,243,000 | 191,269,000 | -4,416,000 | -8,578,000 | 5,188,000 | -107,011,000 | ||||
| Investing Activities | ||||||||||||||
| capital expenditure | ||||||||||||||
| Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -66,000 | 85,000 | 0 | 0 |
| cash flow from investments | ||||||||||||||
| Financing Activities | ||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 58,000 | -204,000 | -3,929,000 | -720,000 | -24,492,000 | -21,415,000 | -47,468,000 | -27,556,000 | -270,482,000 | 354,564,000 | 2,822,000 | 7,406,000 | 3,127,000 | 2,127,000 |
| Other Short Term Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | 9,207,000 | 6,205,000 | 6,070,000 | 4,660,000 | 4,068,000 | 27,180,000 | 6,366,000 | 3,847,000 | 255,099,000 | -541,530,000 | 8,226,000 | 9,194,000 | -1,019,000 | 525,129,000 |
| 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 | ||||||||||||||
| interest | -9,115,000 | -5,985,000 | -5,995,000 | -4,684,000 | -4,111,000 | -551,000 | -3,158,000 | -4,872,000 | -5,440,000 | -5,976,000 | -6,466,000 | -7,199,000 | -7,296,000 | -6,091,000 |
| cash flow from financing | 150,000 | 16,000 | -3,854,000 | -744,000 | -24,535,000 | 5,214,000 | -20,288,000 | -28,581,000 | -20,823,000 | -192,942,000 | 4,582,000 | 9,401,000 | -5,188,000 | 351,011,000 |
| cash and cash equivalents | ||||||||||||||
| cash | 793,000 | 95,000 | -181,000 | -61,000 | -151,000 | -60,000 | 429,000 | 144,000 | -74,000 | -395,000 | -325,000 | 867,000 | 0 | 0 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | 793,000 | 95,000 | -181,000 | -61,000 | -151,000 | -60,000 | 429,000 | 144,000 | -74,000 | -395,000 | -325,000 | 867,000 | 0 | 0 |
tse development limited Credit Report and Business Information
Tse Development Limited Competitor Analysis
Perform a competitor analysis for tse development limited by selecting its closest rivals and benchmarking them against 12 key performance metrics.
tse development limited Ownership
TSE DEVELOPMENT LIMITED group structure
Tse Development Limited has no subsidiary companies.
Ultimate parent company
FLUTTER ENTERTAINMENT PUBLIC LIMITED COM
IE016956
2 parents
TSE DEVELOPMENT LIMITED
05160532
tse development limited directors
Tse Development Limited currently has 2 directors. The longest serving directors include Mr Recep Ozcan (Oct 2013) and Mr Kevin Smith (Feb 2014).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Recep Ozcan | United Kingdom | 49 years | Oct 2013 | - | Director |
| Mr Kevin Smith | United Kingdom | 47 years | Feb 2014 | - | Director |
P&L
December 2022turnover
33.7m
-9%
operating profit
60.3m
0%
gross margin
100%
0%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2022net assets
-159m
-0.13%
total assets
161.9m
+0.26%
cash
937k
+5.51%
net assets
Total assets minus all liabilities
tse development limited company details
company number
05160532
Type
Private limited with Share Capital
industry
82990 - Other business support service activities n.e.c.
62090 - Other information technology and computer service activities
incorporation date
June 2004
age
20
accounts
Full Accounts
ultimate parent company
previous names
N/A
incorporated
UK
address
one chamberlain square cs, birmingham, B3 3AX
last accounts submitted
December 2022
tse development 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 tse development limited.
tse development limited Companies House Filings - See Documents
| date | description | view/download |
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