Riviera Insurance Services Limited

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riviera insurance services limited Company Information

Live

YoungSmallHealthy

Company Number

09827823

Website

www.rivierainsurance.co.uk

Registered Address

petitor house nicholson road, torquay, devon, TQ2 7TD

Industry

Non-life insurance

Telephone

01323481461

Next Accounts Due

December 2024

Group Structure

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Directors

Kevin Davies8 Years

Andrew Pearce6 Years

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Shareholders

kevin davies 58%

geoff derham 14%

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riviera insurance services limited Estimated Valuation

£1.7m

Pomanda estimates the enterprise value of RIVIERA INSURANCE SERVICES LIMITED at £1.7m based on an EBITDA of £191.5k and a 8.71x industry multiple (adjusted for size and gross margin).

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Riviera Insurance Services Limited is a live company located in devon, TQ2 7TD with a Companies House number of 09827823. It operates in the non-life insurance sector, SIC Code 65120. Founded in October 2015, it's largest shareholder is kevin davies with a 58% stake. Riviera Insurance Services Limited is a young, small sized company, Pomanda has estimated its turnover at £1.1m with healthy growth in recent years.

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Pomanda's financial health check has awarded Riviera Insurance Services Limited a 2.5 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 4 areas for improvement. Company Health Check FAQs

Health Rating2.5out of 5

3 Strong

3 Regular

4 Weak

Size

annual sales of £1.1m, make it smaller than the average company (£2m)

Growth

3 year (CAGR) sales growth of 13%, show it is growing at a faster rate (7%)

EXPORT

Riviera Insurance Services Limited's latest turnover from March 2023 is estimated at £1.1 million and the company has net assets of £19.5 thousand. According to their latest financial statements, Riviera Insurance Services Limited has 25 employees and maintains cash reserves of 0 as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Turnover	1,140,377	764,348	653,025	785,050	628,791	437,522	300,126
Other Income Or Grants	0	0	0	0	0	0	0
Cost Of Sales	17,490	25,611	20,729	34,080	37,514	29,834	28,040
Gross Profit	1,122,887	738,737	632,296	750,970	591,278	407,689	272,086
Admin Expenses	948,892	732,917	544,337	752,115	633,557	427,995	406,302
Operating Profit	173,995	5,820	87,959	-1,145	-42,279	-20,306	-134,216
Interest Payable	285	0	376	376	110	225	115
Interest Receivable	214	158	16	13	159	292	124
Pre-Tax Profit	173,923	5,978	87,599	-1,508	-42,230	-20,239	-134,206
Tax	-33,045	-1,136	-16,644	0	0	0	0
Profit After Tax	140,878	4,842	70,955	-1,508	-42,230	-20,239	-134,206
Dividends Paid	0	0	0	0	0	0	0
Retained Profit	140,878	4,842	70,955	-1,508	-42,230	-20,239	-134,206
Employee Costs	1,301,945	945,143	892,530	953,592	694,207	542,646	439,446
Number Of Employees	25	18	18	20	14	11	9
EBITDA*	191,496	20,180	104,086	12,449	-31,940	-18,004	-131,230

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Tangible Assets	41,763	26,832	33,048	29,342	36,051	9,782	10,996
Intangible Assets	0	0	54,855	54,855	0	0	0
Investments & Other	0	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0
Total Fixed Assets	41,763	26,832	87,903	84,197	36,051	9,782	10,996
Stock & work in progress	0	0	0	0	0	0	0
Trade Debtors	209,781	122,413	35,872	77,313	100,647	51,018	2,859
Group Debtors	134,186	33,686	0	0	0	0	0
Misc Debtors	71,445	33,052	167,079	159,836	43,672	0	1,320
Cash	0	10,059	32,061	776	24,919	17,443	99,469
misc current assets	117,713	0	0	0	0	0	0
total current assets	533,125	199,210	235,012	237,925	169,238	68,461	103,648
total assets	574,888	226,042	322,915	322,122	205,289	78,243	114,644
Bank overdraft	5,565	0	0	12,338	0	3,250	3,670
Bank loan	0	0	0	0	0	0	0
Trade Creditors	39,010	13,318	16,583	276,390	168,716	14,805	61,520
Group/Directors Accounts	266,468	98,757	0	0	0	0	0
other short term finances	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0
other current liabilities	34,353	25,353	222,560	20,578	22,248	213,633	182,660
total current liabilities	345,396	137,428	239,143	309,306	190,964	231,688	247,850
loans	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0
other liabilities	210,000	210,000	210,000	209,999	210,000	0	0
provisions	0	0	0	0	0	0	0
total long term liabilities	210,000	210,000	210,000	209,999	210,000	0	0
total liabilities	555,396	347,428	449,143	519,305	400,964	231,688	247,850
net assets	19,492	-121,386	-126,228	-197,183	-195,675	-153,445	-133,206
total shareholders funds	19,492	-121,386	-126,228	-197,183	-195,675	-153,445	-133,206

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Operating Activities
Operating Profit	173,995	5,820	87,959	-1,145	-42,279	-20,306	-134,216
Depreciation	17,501	14,360	16,127	13,594	10,339	2,302	2,986
Amortisation	0	0	0	0	0	0	0
Tax	-33,045	-1,136	-16,644	0	0	0	0
Stock	0	0	0	0	0	0	0
Debtors	226,261	-13,800	-34,198	92,830	93,301	46,839	4,179
Creditors	25,692	-3,265	-259,807	107,674	153,911	-46,715	61,520
Accruals and Deferred Income	9,000	-197,207	201,982	-1,670	-191,385	30,973	182,660
Deferred Taxes & Provisions	0	0	0	0	0	0	0
Cash flow from operations	-33,118	-167,628	63,815	25,623	-162,715	-80,585	108,771
Investing Activities
capital expenditure	-32,432	46,711	-19,833	-61,740	-36,608	-1,088	-13,982
Change in Investments	0	0	0	0	0	0	0
cash flow from investments	-32,432	46,711	-19,833	-61,740	-36,608	-1,088	-13,982
Financing Activities
Bank loans	0	0	0	0	0	0	0
Group/Directors Accounts	167,711	98,757	0	0	0	0	0
Other Short Term Loans	0	0	0	0	0	0	0
Long term loans	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0
other long term liabilities	0	0	1	-1	210,000	0	0
share issue	0	0	0	0	0	0	1,000
interest	-71	158	-360	-363	49	67	9
cash flow from financing	167,640	98,915	-359	-364	210,049	67	1,009
cash and cash equivalents
cash	-10,059	-22,002	31,285	-24,143	7,476	-82,026	99,469
overdraft	5,565	0	-12,338	12,338	-3,250	-420	3,670
change in cash	-15,624	-22,002	43,623	-36,481	10,726	-81,606	95,799

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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Perform a competitor analysis for riviera insurance services limited by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other small companies, companies in TQ2 area or any other competitors across 12 key performance metrics.

RIVIERA INSURANCE SERVICES LIMITED group structure

Riviera Insurance Services Limited has 2 subsidiary companies.

Ultimate parent company

RIVIERA INSURANCE SERVICES LIMITED

09827823

2 subsidiaries

CORNWALL & DEVON SERVICES LIMITED

12231344

G2I LTD

10735938

RIVIERA INSURANCE SERVICES LIMITED Shareholders

kevin davies	58%
geoff derham	14%
james richard jones	14%
andrew pearce	14%

Riviera Insurance Services Limited currently has 4 directors. The longest serving directors include Mr Kevin Davies (Apr 2016) and Mr Andrew Pearce (Feb 2018).

officer	country	age	start	end	role
Mr Kevin Davies	United Kingdom	61 years	Apr 2016	-	Director
Mr Andrew Pearce	England	61 years	Feb 2018	-	Director
Mr Geoff Derham	United Kingdom	72 years	Jul 2018	-	Director
Mr James Jones	United Kingdom	46 years	Jun 2023	-	Director

P&L

March 2023

turnover

1.1m

+49%

operating profit

174k

gross margin

98.5%

+1.88%

turnover

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

Balance Sheet

March 2023

net assets

19.5k

-1.16%

total assets

574.9k

+1.54%

cash

-1%

net assets

Total assets minus all liabilities

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company number

09827823

Type

Private limited with Share Capital

industry

65120 - Non-life insurance

incorporation date

October 2015

ultimate parent company

None

previous names

N/A

address

petitor house nicholson road, torquay, devon, TQ2 7TD

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 riviera insurance services limited.

riviera insurance services limited Company Information

riviera insurance services limited Estimated Valuation

riviera insurance services limited Estimated Valuation

riviera insurance services limited Estimated Valuation

Riviera Insurance Services Limited Overview

Riviera Insurance Services Limited Health Check

RIVIERA INSURANCE SERVICES LIMITED financials

riviera insurance services limited Credit Report and Business Information

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riviera insurance services limited Ownership

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