Velocity Recruitment Limited

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velocity recruitment limited Company Information

Live

EstablishedMidRapid

Company Number

05969818

Website

www.velocityrecruitment.co.uk

Registered Address

2 devizes trade centre, hopton road, devizes, SN10 2EH

Industry

Temporary employment agency activities

Activities of employment placement agencies (other than motion picture, television and other theatrical casting) n.e.c.

Telephone

08458338550

Next Accounts Due

September 2025

Group Structure

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Directors

David Bowman17 Years

Aswanee Ramchurn0 Years

View All

Shareholders

recepta ltd 100%

velocity recruitment limited Estimated Valuation

£2.8m

Pomanda estimates the enterprise value of VELOCITY RECRUITMENT LIMITED at £2.8m based on a Turnover of £13.5m and 0.21x industry multiple (adjusted for size and gross margin).

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Velocity Recruitment Limited is a live company located in devizes, SN10 2EH with a Companies House number of 05969818. It operates in the other activities of employment placement agencies sector, SIC Code 78109. Founded in October 2006, it's largest shareholder is recepta ltd with a 100% stake. Velocity Recruitment Limited is a established, mid sized company, Pomanda has estimated its turnover at £13.5m with rapid growth in recent years.

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

Health Rating4out of 5

4 Strong

4 Regular

3 Weak

Size

annual sales of £13.5m, make it in line with the average company (£13.4m)

Growth

3 year (CAGR) sales growth of 30%, show it is growing at a faster rate (6.2%)

EXPORT

Velocity Recruitment Limited's latest turnover from December 2023 is estimated at £13.5 million and the company has net assets of £319.2 thousand. According to their latest financial statements, Velocity Recruitment Limited has 13 employees and maintains cash reserves of £32 thousand 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	Oct 2012	Oct 2011	Oct 2010	Oct 2009
Turnover	13,503,816	14,102,760	9,516,380	6,111,608	11,505,669	10,625,656	9,142,669	4,799,811	3,669,540	4,336,855	4,541,327	4,933,636	1,599,378	1,617,014	289,960
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	10,573,212	10,966,798	7,525,360	4,895,196	9,177,111	8,447,623	7,261,253	3,790,131	2,890,471	3,388,044	3,545,035	3,789,692	1,190,153	1,213,231	214,616
Gross Profit	2,930,604	3,135,961	1,991,020	1,216,412	2,328,558	2,178,033	1,881,415	1,009,680	779,069	948,811	996,292	1,143,944	409,225	403,783	75,344
Admin Expenses	2,911,587	3,121,859	1,984,537	1,317,998	2,418,801	2,067,722	1,620,836	1,017,555	823,242	851,152	894,459	1,129,820	412,663	365,790	50,902
Operating Profit	19,017	14,102	6,483	-101,586	-90,243	110,311	260,579	-7,875	-44,173	97,659	101,833	14,124	-3,438	37,993	24,442
Interest Payable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	5,789	5,520	376	190	1,032	343	57	47	81	79	60	67	141	192	0
Pre-Tax Profit	24,807	19,622	6,859	-101,397	-89,211	110,653	260,636	-7,828	-44,092	97,738	101,892	14,191	-3,297	38,185	24,442
Tax	-6,202	-3,728	-1,303	0	0	-21,024	-49,521	0	0	-20,525	-23,435	-3,406	0	-10,692	-5,282
Profit After Tax	18,605	15,894	5,556	-101,397	-89,211	89,629	211,115	-7,828	-44,092	77,213	78,457	10,785	-3,297	27,493	19,160
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	70,000
Retained Profit	18,605	15,894	5,556	-101,397	-89,211	89,629	211,115	-7,828	-44,092	77,213	78,457	10,785	-3,297	27,493	-50,840
Employee Costs	712,866	1,251,018	803,927	621,259	492,429	484,112	376,371	376,042	410,144	766,943	840,025	979,486	326,649	426,487	41,146
Number Of Employees	13	24	17	14	11	11	9	9	10	19	21	26	9	12	4
EBITDA*	20,066	15,504	7,968	-99,731	-88,797	118,490	268,655	-5,819	-40,704	101,260	106,248	16,389	-418	38,704	25,390

* 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	Oct 2012	Oct 2011	Oct 2010	Oct 2009
Tangible Assets	3,145	4,205	4,456	5,563	4,339	5,785	5,483	6,041	10,407	10,801	13,246	6,795	9,060	2,133	2,844
Intangible Assets	0	0	0	0	0	0	6,250	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	3,145	4,205	4,456	5,563	4,339	5,785	11,733	6,041	10,407	10,801	13,246	6,795	9,060	2,133	2,844
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	1,128,678	1,121,538	872,517	565,334	949,461	1,052,504	975,655	496,648	428,799	442,650	387,491	312,528	78,866	139,862	37,522
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	0	0	0	0	0	0	0	0	0	0	0	107,494	96,899	0	0
Cash	31,992	199,585	115,856	185,106	193,892	81,320	10,018	12,768	24,619	7,618	23,881	0	26,689	29,645	47,121
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	1,160,670	1,321,123	988,373	750,440	1,143,353	1,133,824	985,673	509,416	453,418	450,268	411,372	420,022	202,454	169,507	84,643
total assets	1,163,815	1,325,328	992,829	756,003	1,147,692	1,139,609	997,406	515,457	463,825	461,069	424,618	426,817	211,514	171,640	87,487
Bank overdraft	0	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	0
Trade Creditors	786,593	929,976	577,385	300,772	766,297	668,728	582,646	275,016	190,894	240,111	280,873	361,529	157,011	114,838	0
Group/Directors Accounts	0	0	0	0	0	0	33,552	70,340	94,161	0	0	0	0	0	51,064
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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7,114
total current liabilities	786,593	929,976	577,385	300,772	766,297	668,728	616,198	345,356	285,055	240,111	280,873	361,529	157,011	114,838	58,178
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	57,207	93,929	129,867	175,000	0	0	0	0	0	0	0	0	0	0	0
provisions	786	799	847	1,057	824	1,099	1,055	1,063	1,904	0	0	0	0	0	0
total long term liabilities	57,993	94,728	130,714	176,057	824	1,099	1,055	1,063	1,904	0	0	0	0	0	0
total liabilities	844,586	1,024,704	708,099	476,829	767,121	669,827	617,253	346,419	286,959	240,111	280,873	361,529	157,011	114,838	58,178
net assets	319,229	300,624	284,730	279,174	380,571	469,782	380,153	169,038	176,866	220,958	143,745	65,288	54,503	56,802	29,309
total shareholders funds	319,229	300,624	284,730	279,174	380,571	469,782	380,153	169,038	176,866	220,958	143,745	65,288	54,503	56,802	29,309

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Oct 2012	Oct 2011	Oct 2010	Oct 2009
Operating Activities
Operating Profit	19,017	14,102	6,483	-101,586	-90,243	110,311	260,579	-7,875	-44,173	97,659	101,833	14,124	-3,438	37,993	24,442
Depreciation	1,049	1,402	1,485	1,855	1,446	1,929	1,826	2,056	3,469	3,601	4,415	2,265	3,020	711	948
Amortisation	0	0	0	0	0	6,250	6,250	0	0	0	0	0	0	0	0
Tax	-6,202	-3,728	-1,303	0	0	-21,024	-49,521	0	0	-20,525	-23,435	-3,406	0	-10,692	-5,282
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	7,140	249,021	307,183	-384,127	-103,043	76,849	479,007	67,849	-13,851	55,159	-32,531	244,257	35,903	102,340	37,522
Creditors	-143,383	352,591	276,613	-465,525	97,569	86,082	307,630	84,122	-49,217	-40,762	-80,656	204,518	42,173	114,838	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	-7,114	7,114
Deferred Taxes & Provisions	-13	-48	-210	233	-275	44	-8	-841	1,904	0	0	0	0	0	0
Cash flow from operations	-136,672	115,298	-24,115	-180,896	111,540	106,743	47,749	9,613	-74,166	-15,186	34,688	-26,756	5,852	33,396	-10,300
Investing Activities
capital expenditure	11	-1,151	-378	-3,079	0	-2,231	-13,768	2,310	-3,075	-1,156	-10,866	0	-9,947	0	-3,792
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	11	-1,151	-378	-3,079	0	-2,231	-13,768	2,310	-3,075	-1,156	-10,866	0	-9,947	0	-3,792
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	-33,552	-36,788	-23,821	94,161	0	0	0	0	-51,064	51,064
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	-36,722	-35,938	-45,133	175,000	0	0	0	0	0	0	0	0	0	0	0
share issue	0	0	0	0	0	0	0	0	0	0	0	0	998	0	80,149
interest	5,789	5,520	376	190	1,032	343	57	47	81	79	60	67	141	192	0
cash flow from financing	-30,933	-30,418	-44,757	175,190	1,032	-33,209	-36,731	-23,774	94,242	79	60	67	1,139	-50,872	131,213
cash and cash equivalents
cash	-167,593	83,729	-69,250	-8,786	112,572	71,302	-2,750	-11,851	17,001	-16,263	23,881	-26,689	-2,956	-17,476	47,121
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	-167,593	83,729	-69,250	-8,786	112,572	71,302	-2,750	-11,851	17,001	-16,263	23,881	-26,689	-2,956	-17,476	47,121

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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VELOCITY RECRUITMENT LIMITED group structure

Velocity Recruitment Limited has no subsidiary companies.

Ultimate parent company

RECEPTA LTD

09063737

1 parent

VELOCITY RECRUITMENT LIMITED

05969818

VELOCITY RECRUITMENT LIMITED Shareholders

recepta ltd

100%

Velocity Recruitment Limited currently has 3 directors. The longest serving directors include Mr David Bowman (Jan 2007) and Mr Aswanee Ramchurn (Feb 2024).

officer	country	age	start	end	role
Mr David Bowman	United Kingdom	50 years	Jan 2007	-	Director
Mr Aswanee Ramchurn	England	56 years	Feb 2024	-	Director
Mr Alexander Morgan	England	53 years	Feb 2024	-	Director

P&L

December 2023

turnover

13.5m

-4%

operating profit

19k

gross margin

21.8%

-2.4%

turnover

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

Balance Sheet

December 2023

net assets

319.2k

+0.06%

total assets

1.2m

-0.12%

cash

32k

-0.84%

net assets

Total assets minus all liabilities

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company number

05969818

Type

Private limited with Share Capital

industry

78200 - Temporary employment agency activities

78109 - Activities of employment placement agencies (other than motion picture, television and other theatrical casting) n.e.c.

incorporation date

October 2006

ultimate parent company

RECEPTA LTD

previous names

N/A

address

2 devizes trade centre, hopton road, devizes, SN10 2EH

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 velocity recruitment limited. Currently there are 3 open charges and 3 have been satisfied in the past.

velocity recruitment limited Company Information

velocity recruitment limited Estimated Valuation

velocity recruitment limited Estimated Valuation

velocity recruitment limited Estimated Valuation

Velocity Recruitment Limited Overview

Velocity Recruitment Limited Health Check

VELOCITY RECRUITMENT LIMITED financials

velocity recruitment limited Credit Report and Business Information

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velocity recruitment limited Ownership

velocity recruitment limited directors

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