Pomanda estimates the enterprise value of TESCO UNDERWRITING LIMITED at £47.8m based on a Turnover of £41.2m and 1.16x industry multiple (adjusted for size and gross margin).
tesco underwriting limitedEstimated Valuation
£436m
Pomanda estimates the enterprise value of TESCO UNDERWRITING LIMITED at £436m based on an EBITDA of £34.1m and a 12.79x industry multiple (adjusted for size and gross margin).
tesco underwriting limitedEstimated Valuation
£332m
Pomanda estimates the enterprise value of TESCO UNDERWRITING LIMITED at £332m based on Net Assets of £202.7m and 1.64x industry multiple (adjusted for liquidity).
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Tesco Underwriting LimitedOverview
Tesco Underwriting Limited is a live company located in reigate, RH2 7LD with a Companies House number of 06967289. It operates in the non-life insurance sector, SIC Code 65120. Founded in July 2009, it's largest shareholder is
tesco personal finance plc
with a 100% stake. Tesco Underwriting Limited is a established,
large sized company, Pomanda has estimated its turnover at
£41.2m with
unknown
growth in recent years.
Pomanda's financial health check has awarded Tesco Underwriting Limited a 3 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 3 areas for improvement. Company Health Check FAQs
Health Rating3out of 5
3 Strong
3 Regular
3 Weak
Size
annual sales of £41.2m, make it larger than the average company (£2.3m)
£41.2m - Tesco Underwriting Limited
£2.3m - Industry AVG
Growth
There is insufficient data available for this Key Performance Indicator!
- - Tesco Underwriting Limited
- - Industry AVG
Production
with a gross margin of 100%, this company has a comparable cost of product (100%)
100% - Tesco Underwriting Limited
100% - Industry AVG
Profitability
an operating margin of 81.1% make it more profitable than the average company (18.7%)
81.1% - Tesco Underwriting Limited
18.7% - Industry AVG
Employees
with 365 employees, this is above the industry average (25)
365 - Tesco Underwriting Limited
25 - Industry AVG
Pay Structure
on an average salary of £53.7k, the company has an equivalent pay structure (£63k)
£53.7k - Tesco Underwriting Limited
£63k - Industry AVG
Efficiency
resulting in sales per employee of £112.9k, this is less efficient (£162.2k)
£112.9k - Tesco Underwriting Limited
£162.2k - Industry AVG
Debtor Days
it gets paid by customers after 891 days, this is later than average (206 days)
891 days - Tesco Underwriting Limited
206 days - Industry AVG
Creditor Days
There is insufficient data available for this Key Performance Indicator!
- - Tesco Underwriting Limited
- - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Tesco Underwriting Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities
for 4 weeks, this is less cash available to meet short term requirements (18 weeks)
4 weeks - Tesco Underwriting Limited
18 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 76.8%, this is a similar level of debt than the average (78.2%)
76.8% - Tesco Underwriting Limited
78.2% - Industry AVG
TESCO UNDERWRITING LIMITED financials
EXPORT
Tesco Underwriting Limited's latest turnover from February 2024 is £41.2 million and the company has net assets of £202.7 million. According to their latest financial statements, Tesco Underwriting Limited has 365 employees and maintains cash reserves of £53.4 million as reported in the balance sheet.
Data source:Companies House, Pomanda Estimates
Feb 2024
Feb 2023
Feb 2022
Dec 2020
Dec 2019
Dec 2018
Dec 2017
Dec 2016
Dec 2015
Dec 2014
Dec 2013
Dec 2012
Dec 2011
Dec 2010
Turnover
41,200,000
54,300,000
215,500,000
214,400,000
258,700,000
310,700,000
391,300,000
399,200,000
416,200,000
441,900,000
505,900,000
668,800,000
402,400,000
9,200,000
Other Income Or Grants
Cost Of Sales
66,800
2,847,729
12,288,614
41,492,683
77,642,445
125,607,979
166,324,579
109,878,803
2,696,478
Gross Profit
41,200,000
54,300,000
215,433,200
214,400,000
258,700,000
310,700,000
388,452,271
386,911,386
374,707,317
364,257,555
380,292,021
502,475,421
292,521,197
6,503,522
Admin Expenses
7,806,625
3,148,432
193,719,373
176,504,633
230,823,188
284,552,306
361,237,351
412,447,886
370,620,317
360,902,305
361,655,946
470,107,197
278,915,758
17,508,272
Operating Profit
33,393,375
51,151,568
21,713,827
37,895,367
27,876,812
26,147,694
27,214,920
-25,536,500
4,087,000
3,355,250
18,636,075
32,368,224
13,605,439
-11,004,750
Interest Payable
1,900,000
1,800,000
2,305,125
2,800,000
2,900,000
2,900,000
2,900,000
3,400,000
3,600,000
3,000,000
800,000
Interest Receivable
2,606,625
2,208,000
161,250
61,450
518,250
601,875
311,000
105,250
152,500
184,250
966,250
871,000
91,500
70,000
Pre-Tax Profit
35,800,000
51,100,000
20,400,000
36,700,000
28,400,000
24,400,000
23,100,000
-36,100,000
-700,000
-1,200,000
14,800,000
28,900,000
9,200,000
-18,000,000
Tax
-8,800,000
-9,600,000
-3,800,000
-7,000,000
-5,400,000
-4,600,000
-4,400,000
6,400,000
500,000
-300,000
3,500,000
Profit After Tax
27,000,000
41,500,000
16,600,000
29,700,000
23,000,000
19,800,000
18,700,000
-29,700,000
-200,000
-900,000
11,300,000
21,500,000
6,800,000
-13,200,000
Dividends Paid
20,000,000
15,000,000
31,300,000
20,700,000
15,000,000
Retained Profit
27,000,000
41,500,000
-3,400,000
14,700,000
-8,300,000
-900,000
18,700,000
-29,700,000
-200,000
-15,900,000
11,300,000
21,500,000
6,800,000
-13,200,000
Employee Costs
19,600,000
19,900,000
19,500,000
17,800,000
17,200,000
15,800,000
16,500,000
15,800,000
15,600,000
13,400,000
13,400,000
13,000,000
7,200,000
2,500,000
Number Of Employees
365
319
335
357
367
380
379
413
389
352
371
361
159
9
EBITDA*
34,093,375
51,751,568
21,713,827
37,895,367
30,276,812
26,447,694
27,214,920
-25,436,500
4,287,000
4,155,250
19,436,075
33,168,224
16,805,439
-10,504,750
* Earnings Before Interest, Tax, Depreciation and Amortisation
Feb 2024
Feb 2023
Feb 2022
Dec 2020
Dec 2019
Dec 2018
Dec 2017
Dec 2016
Dec 2015
Dec 2014
Dec 2013
Dec 2012
Dec 2011
Dec 2010
Tangible Assets
25,100,000
32,500,000
15,200,000
8,300,000
837,100,000
205,900,000
29,000,000
32,300,000
34,000,000
38,600,000
41,400,000
49,500,000
41,500,000
15,000,000
Intangible Assets
9,000,000
9,900,000
11,100,000
9,700,000
7,100,000
5,600,000
5,300,000
6,600,000
6,800,000
7,700,000
7,400,000
6,800,000
7,200,000
3,000,000
Investments & Other
Debtors (Due After 1 year)
Total Fixed Assets
34,100,000
42,400,000
26,300,000
18,000,000
844,200,000
211,500,000
34,300,000
38,900,000
40,800,000
46,300,000
48,800,000
56,300,000
48,700,000
18,000,000
Stock & work in progress
Trade Debtors
100,600,000
103,400,000
297,100,000
263,500,000
181,200,000
196,200,000
85,900,000
77,300,000
70,500,000
67,100,000
49,300,000
6,800,000
Group Debtors
Misc Debtors
Cash
53,400,000
45,900,000
64,500,000
71,000,000
51,900,000
86,300,000
74,200,000
50,200,000
34,000,000
27,000,000
46,700,000
339,800,000
8,600,000
28,000,000
misc current assets
681,600,000
564,800,000
599,600,000
642,200,000
771,400,000
738,100,000
738,600,000
761,800,000
741,000,000
550,500,000
700,500,000
238,200,000
total current assets
837,600,000
715,500,000
961,800,000
976,700,000
101,700,000
139,400,000
1,027,000,000
990,000,000
862,000,000
866,100,000
860,100,000
957,400,000
758,400,000
273,000,000
total assets
871,700,000
757,900,000
988,100,000
994,700,000
945,900,000
350,900,000
1,061,300,000
1,028,900,000
902,800,000
912,400,000
908,900,000
1,013,700,000
807,100,000
291,000,000
Bank overdraft
42,500,000
42,300,000
68,300,000
68,300,000
68,300,000
68,300,000
68,300,000
83,300,000
69,000,000
69,700,000
Bank loan
Trade Creditors
624,400,000
543,200,000
648,100,000
649,900,000
1,600,000
1,700,000
783,600,000
809,100,000
673,000,000
669,900,000
671,700,000
712,200,000
570,100,000
88,300,000
Group/Directors Accounts
other short term finances
hp & lease commitments
other current liabilities
total current liabilities
626,100,000
547,700,000
831,700,000
801,400,000
24,000,000
22,800,000
882,200,000
894,100,000
760,000,000
757,500,000
758,100,000
826,800,000
668,200,000
167,900,000
loans
hp & lease commitments
Accruals and Deferred Income
other liabilities
provisions
total long term liabilities
42,900,000
42,800,000
4,500,000
756,500,000
847,800,000
1,600,000
900,000
1,900,000
total liabilities
669,000,000
590,500,000
831,700,000
805,900,000
780,500,000
870,600,000
883,800,000
894,100,000
760,900,000
759,400,000
758,100,000
826,800,000
668,200,000
167,900,000
net assets
202,700,000
167,400,000
156,400,000
188,800,000
165,400,000
-519,700,000
177,500,000
134,800,000
141,900,000
153,000,000
150,800,000
186,900,000
138,900,000
123,100,000
total shareholders funds
202,700,000
167,400,000
156,400,000
188,800,000
165,400,000
165,500,000
177,500,000
134,800,000
141,900,000
153,000,000
150,800,000
186,900,000
138,900,000
123,100,000
Feb 2024
Feb 2023
Feb 2022
Dec 2020
Dec 2019
Dec 2018
Dec 2017
Dec 2016
Dec 2015
Dec 2014
Dec 2013
Dec 2012
Dec 2011
Dec 2010
Operating Activities
Operating Profit
33,393,375
51,151,568
21,713,827
37,895,367
27,876,812
26,147,694
27,214,920
-25,536,500
4,087,000
3,355,250
18,636,075
32,368,224
13,605,439
-11,004,750
Depreciation
700,000
600,000
2,400,000
300,000
100,000
200,000
800,000
800,000
800,000
3,200,000
500,000
Amortisation
Tax
-8,800,000
-9,600,000
-3,800,000
-7,000,000
-5,400,000
-4,600,000
-4,400,000
6,400,000
500,000
-300,000
3,500,000
Stock
Debtors
-2,800,000
-193,700,000
297,100,000
263,500,000
-181,200,000
-15,000,000
110,300,000
8,600,000
6,800,000
3,400,000
17,800,000
42,500,000
6,800,000
Creditors
81,200,000
-104,900,000
648,100,000
648,300,000
-100,000
-781,900,000
-25,500,000
136,100,000
3,100,000
-1,800,000
-40,500,000
142,100,000
481,800,000
88,300,000
Accruals and Deferred Income
Deferred Taxes & Provisions
Cash flow from operations
109,293,375
130,951,568
368,913,827
415,695,367
24,776,812
-578,852,306
12,314,920
6,763,500
-713,000
-4,744,750
-20,963,925
157,468,224
456,105,439
70,995,250
Investing Activities
capital expenditure
7,600,000
-16,700,000
-26,300,000
826,200,000
-635,100,000
-177,500,000
4,600,000
1,800,000
5,300,000
1,700,000
6,700,000
-8,400,000
-33,900,000
-18,500,000
Change in Investments
cash flow from investments
7,600,000
-16,700,000
-26,300,000
826,200,000
-635,100,000
-177,500,000
4,600,000
1,800,000
5,300,000
1,700,000
6,700,000
-8,400,000
-33,900,000
-18,500,000
Financing Activities
Bank loans
Group/Directors Accounts
Other Short Term Loans
Long term loans
Hire Purchase and Lease Commitments
other long term liabilities
share issue
8,300,000
-30,500,000
159,800,000
8,700,000
8,200,000
-11,100,000
24,000,000
22,600,000
-10,900,000
18,100,000
-47,400,000
26,500,000
9,000,000
136,300,000
interest
2,606,625
2,208,000
-1,738,750
-1,738,550
518,250
-1,703,250
-2,489,000
-2,794,750
-2,747,500
-2,715,750
-2,433,750
-2,729,000
-2,908,500
-730,000
cash flow from financing
10,906,625
-28,292,000
158,061,250
6,961,450
8,718,250
-12,803,250
21,511,000
19,805,250
-13,647,500
15,384,250
-49,833,750
23,771,000
6,091,500
135,570,000
cash and cash equivalents
cash
7,500,000
-18,600,000
64,500,000
19,100,000
-34,400,000
12,100,000
24,000,000
16,200,000
7,000,000
-19,700,000
-293,100,000
331,200,000
-19,400,000
28,000,000
overdraft
-42,500,000
42,500,000
42,300,000
-68,300,000
-15,000,000
14,300,000
-700,000
69,700,000
change in cash
7,500,000
23,900,000
22,000,000
-23,200,000
-34,400,000
80,400,000
24,000,000
16,200,000
7,000,000
-19,700,000
-278,100,000
316,900,000
-18,700,000
-41,700,000
tesco underwriting limited Credit Report and Business Information
Very Low Risk70 - 100
Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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tesco underwriting limited Ownership
TESCO UNDERWRITING LIMITED group structure
Tesco Underwriting Limited has no subsidiary companies.
The sole shareholder of Tesco Underwriting Limited is Tesco Personal Finance Plc.
tesco personal finance plc
100%
tesco underwriting limited directors
Tesco Underwriting Limited currently has 7 directors.
The longest serving directors include
Mr Simon MacHell (Jan 2016) and
Ms Caroline Ramsay (Jul 2016).
the omnibus building, lesbourne road, reigate, surrey, RH2 7LD
Bank
HSBC BANK PLC
Legal Advisor
-
tesco underwriting 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 tesco underwriting limited.
tesco underwriting 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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tesco underwriting limitedCompanies House Filings - See Documents
