comet midco limited
comet midco limited Company Information
Company Number
10904490
Next Accounts
Oct 2025
Shareholders
comet topco limited
Group Structure
View All
Industry
Activities of other holding companies (not including agricultural, production, construction, distribution and financial services holding companies) n.e.c.
Registered Address
bedford house, 69-79 fulham high street, london, SW6 3JW
Website
clarionevents.comcomet midco limited Estimated Valuation
Pomanda estimates the enterprise value of COMET MIDCO LIMITED at £1.4b based on a Turnover of £432.9m and 3.2x industry multiple (adjusted for size and gross margin).
comet midco limited Estimated Valuation
Pomanda estimates the enterprise value of COMET MIDCO LIMITED at £1b based on an EBITDA of £77m and a 13.39x industry multiple (adjusted for size and gross margin).
comet midco limited Estimated Valuation
Pomanda estimates the enterprise value of COMET MIDCO LIMITED at £0 based on Net Assets of £-508.6m and 1.31x industry multiple (adjusted for liquidity).
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Comet Midco Limited Overview
Comet Midco Limited is a live company located in london, SW6 3JW with a Companies House number of 10904490. It operates in the activities of other holding companies n.e.c. sector, SIC Code 64209. Founded in August 2017, it's largest shareholder is comet topco limited with a 100% stake. Comet Midco Limited is a young, mega sized company, Pomanda has estimated its turnover at £432.9m with rapid growth in recent years.
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Comet Midco Limited Health Check
Pomanda's financial health check has awarded Comet Midco Limited a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 4 areas for improvement. Company Health Check FAQs
7 Strong
1 Regular
4 Weak
Size
annual sales of £432.9m, make it larger than the average company (£19.1m)
£432.9m - Comet Midco Limited
£19.1m - Industry AVG
Growth
3 year (CAGR) sales growth of 63%, show it is growing at a faster rate (11.2%)
63% - Comet Midco Limited
11.2% - Industry AVG
Production
with a gross margin of 58.3%, this company has a lower cost of product (35%)
58.3% - Comet Midco Limited
35% - Industry AVG
Profitability
an operating margin of 16.3% make it more profitable than the average company (4.4%)
16.3% - Comet Midco Limited
4.4% - Industry AVG
Employees
with 2009 employees, this is above the industry average (104)
2009 - Comet Midco Limited
104 - Industry AVG
Pay Structure
on an average salary of £58.6k, the company has a higher pay structure (£44.4k)
£58.6k - Comet Midco Limited
£44.4k - Industry AVG
Efficiency
resulting in sales per employee of £215.5k, this is equally as efficient (£190.5k)
£215.5k - Comet Midco Limited
£190.5k - Industry AVG
Debtor Days
it gets paid by customers after 8 days, this is earlier than average (44 days)
8 days - Comet Midco Limited
44 days - Industry AVG
Creditor Days
its suppliers are paid after 38 days, this is quicker than average (44 days)
38 days - Comet Midco Limited
44 days - Industry AVG
Stock Days
it holds stock equivalent to 1 days, this is less than average (37 days)
1 days - Comet Midco Limited
37 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 6 weeks, this is less cash available to meet short term requirements (14 weeks)
6 weeks - Comet Midco Limited
14 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 155.3%, this is a higher level of debt than the average (69%)
155.3% - Comet Midco Limited
69% - Industry AVG
COMET MIDCO LIMITED financials
Comet Midco Limited's latest turnover from January 2024 is £432.9 million and the company has net assets of -£508.6 million. According to their latest financial statements, Comet Midco Limited has 2,009 employees and maintains cash reserves of £47.6 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Jan 2024 | Jan 2023 | Jan 2022 | Jan 2021 | Jan 2020 | Jan 2019 | Jan 2018 | |
|---|---|---|---|---|---|---|---|
| Turnover | 432,856,000 | 257,049,000 | 171,398,000 | 100,019,000 | 413,667,000 | 342,446,000 | 85,631,000 |
| Other Income Or Grants | |||||||
| Cost Of Sales | 180,463,000 | 125,574,000 | 85,307,000 | 39,492,000 | 188,070,000 | 149,613,000 | 43,424,000 |
| Gross Profit | 252,393,000 | 131,475,000 | 86,091,000 | 60,527,000 | 225,597,000 | 192,833,000 | 42,207,000 |
| Admin Expenses | 181,781,000 | 181,634,000 | 170,435,000 | 285,798,000 | 259,120,000 | 202,425,000 | 40,276,000 |
| Operating Profit | 70,612,000 | -50,159,000 | -84,344,000 | -225,271,000 | -33,523,000 | -9,592,000 | 1,931,000 |
| Interest Payable | 102,446,000 | 116,646,000 | 85,286,000 | 45,443,000 | 61,997,000 | 59,651,000 | 9,959,000 |
| Interest Receivable | |||||||
| Pre-Tax Profit | -32,356,000 | -166,705,000 | -169,433,000 | -270,926,000 | -95,060,000 | -72,074,000 | -7,502,000 |
| Tax | -20,152,000 | 18,245,000 | 11,056,000 | 16,103,000 | 8,894,000 | -2,543,000 | -2,826,000 |
| Profit After Tax | -52,508,000 | -148,460,000 | -158,377,000 | -254,823,000 | -86,166,000 | -74,617,000 | -10,328,000 |
| Dividends Paid | 598,000 | 919,000 | 347,000 | ||||
| Retained Profit | -51,952,000 | -165,323,000 | -159,198,000 | -252,307,000 | -88,000,000 | -75,514,000 | -10,714,000 |
| Employee Costs | 117,779,000 | 87,023,000 | 77,321,000 | 77,930,000 | 108,583,000 | 113,608,000 | 20,372,000 |
| Number Of Employees | 2,009 | 1,710 | 1,648 | 1,908 | 2,224 | 2,862 | 881 |
| EBITDA* | 77,007,000 | -48,354,000 | -38,467,000 | -172,852,000 | 23,851,000 | 37,785,000 | 2,382,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Jan 2024 | Jan 2023 | Jan 2022 | Jan 2021 | Jan 2020 | Jan 2019 | Jan 2018 | |
|---|---|---|---|---|---|---|---|
| Tangible Assets | 61,164,000 | 67,245,000 | 112,366,000 | 75,220,000 | 31,698,000 | 10,925,000 | 4,656,000 |
| Intangible Assets | 733,294,000 | 793,484,000 | 831,999,000 | 888,369,000 | 1,091,582,000 | 1,125,072,000 | 680,887,000 |
| Investments & Other | 1,453,000 | 933,000 | 1,027,000 | 809,000 | 3,641,000 | 1,273,000 | 685,000 |
| Debtors (Due After 1 year) | 56,334,000 | 62,223,000 | 49,362,000 | 32,267,000 | 3,877,000 | ||
| Total Fixed Assets | 794,458,000 | 860,729,000 | 899,942,000 | 932,655,000 | 1,119,403,000 | 1,135,997,000 | 685,543,000 |
| Stock & work in progress | 720,000 | 617,000 | 510,000 | 542,000 | 538,000 | 569,000 | |
| Trade Debtors | 10,031,000 | 9,313,000 | 7,872,000 | 5,787,000 | 7,004,000 | 11,431,000 | 2,590,000 |
| Group Debtors | 23,658,000 | 14,353,000 | 9,935,000 | 5,802,000 | 3,100,000 | ||
| Misc Debtors | 35,263,000 | 40,166,000 | 30,432,000 | 35,467,000 | 25,132,000 | 33,727,000 | 15,643,000 |
| Cash | 47,639,000 | 44,099,000 | 38,729,000 | 95,032,000 | 50,646,000 | 53,827,000 | 12,008,000 |
| misc current assets | 1,628,000 | 53,604,000 | |||||
| total current assets | 121,878,000 | 110,057,000 | 90,217,000 | 148,916,000 | 93,772,000 | 153,158,000 | 30,241,000 |
| total assets | 916,336,000 | 970,786,000 | 990,159,000 | 1,081,571,000 | 1,213,175,000 | 1,289,155,000 | 715,784,000 |
| Bank overdraft | |||||||
| Bank loan | 156,124,000 | 152,716,000 | |||||
| Trade Creditors | 18,804,000 | 23,429,000 | 15,506,000 | 15,899,000 | 18,110,000 | 11,160,000 | 16,780,000 |
| Group/Directors Accounts | |||||||
| other short term finances | 170,629,000 | 175,307,000 | 149,676,000 | 149,980,000 | |||
| hp & lease commitments | 4,565,000 | 4,314,000 | 3,511,000 | 5,441,000 | 6,786,000 | ||
| other current liabilities | 209,562,000 | 211,102,000 | 178,439,000 | 175,389,000 | 173,151,000 | 203,964,000 | 71,894,000 |
| total current liabilities | 403,560,000 | 414,152,000 | 353,580,000 | 349,445,000 | 347,723,000 | 365,104,000 | 88,674,000 |
| loans | 1,858,604,000 | 2,134,440,000 | 1,974,707,000 | 1,852,649,000 | 1,580,222,000 | 1,526,196,000 | 765,772,000 |
| hp & lease commitments | 6,499,000 | 9,159,000 | 12,107,000 | 3,691,000 | 8,790,000 | ||
| Accruals and Deferred Income | 46,768,000 | ||||||
| other liabilities | |||||||
| provisions | 143,522,000 | 135,752,000 | 132,970,000 | 121,260,000 | 96,218,000 | 120,412,000 | 262,000 |
| total long term liabilities | 1,019,406,000 | 1,137,604,000 | 1,060,219,000 | 995,412,000 | 855,356,000 | 831,362,000 | 501,832,000 |
| total liabilities | 1,422,966,000 | 1,551,756,000 | 1,413,799,000 | 1,344,857,000 | 1,203,079,000 | 1,196,466,000 | 590,506,000 |
| net assets | -508,610,000 | -582,575,000 | -425,262,000 | -268,175,000 | -1,434,000 | 85,803,000 | 123,671,000 |
| total shareholders funds | -508,610,000 | -582,575,000 | -425,262,000 | -268,175,000 | -1,434,000 | 85,803,000 | 123,671,000 |
| Jan 2024 | Jan 2023 | Jan 2022 | Jan 2021 | Jan 2020 | Jan 2019 | Jan 2018 | |
|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||
| Operating Profit | 70,612,000 | -50,159,000 | -84,344,000 | -225,271,000 | -33,523,000 | -9,592,000 | 1,931,000 |
| Depreciation | 1,906,000 | 1,805,000 | 7,531,000 | 9,617,000 | 10,430,000 | 2,970,000 | 451,000 |
| Amortisation | 4,489,000 | 38,346,000 | 42,802,000 | 46,944,000 | 44,407,000 | ||
| Tax | -20,152,000 | 18,245,000 | 11,056,000 | 16,103,000 | 8,894,000 | -2,543,000 | -2,826,000 |
| Stock | 103,000 | 107,000 | -32,000 | 4,000 | -31,000 | 569,000 | |
| Debtors | -769,000 | 28,454,000 | 18,278,000 | 40,210,000 | -6,045,000 | 26,925,000 | 18,233,000 |
| Creditors | -4,625,000 | 7,923,000 | -393,000 | -2,211,000 | 6,950,000 | -5,620,000 | 16,780,000 |
| Accruals and Deferred Income | -1,540,000 | 32,663,000 | 3,050,000 | 2,238,000 | -30,813,000 | 85,302,000 | 118,662,000 |
| Deferred Taxes & Provisions | 7,770,000 | 2,782,000 | 11,710,000 | 25,042,000 | -24,194,000 | 120,150,000 | 262,000 |
| Cash flow from operations | 59,126,000 | -15,302,000 | -31,290,000 | -171,894,000 | -9,236,000 | 207,580,000 | 117,027,000 |
| Investing Activities | |||||||
| capital expenditure | |||||||
| Change in Investments | 520,000 | -94,000 | 218,000 | -2,832,000 | 2,368,000 | 588,000 | 685,000 |
| cash flow from investments | |||||||
| Financing Activities | |||||||
| Bank loans | -156,124,000 | 3,408,000 | 152,716,000 | ||||
| Group/Directors Accounts | |||||||
| Other Short Term Loans | -4,678,000 | 175,307,000 | -149,676,000 | -304,000 | 149,980,000 | ||
| Long term loans | -275,836,000 | 159,733,000 | 122,058,000 | 272,427,000 | 54,026,000 | 760,424,000 | 765,772,000 |
| Hire Purchase and Lease Commitments | -2,409,000 | -2,145,000 | 6,486,000 | -6,444,000 | 15,576,000 | ||
| other long term liabilities | |||||||
| share issue | |||||||
| interest | -102,446,000 | -116,646,000 | -85,286,000 | -45,443,000 | -61,997,000 | -59,651,000 | -9,959,000 |
| cash flow from financing | -259,452,000 | 68,135,000 | 48,777,000 | 209,146,000 | 8,064,000 | 888,399,000 | 890,198,000 |
| cash and cash equivalents | |||||||
| cash | 3,540,000 | 5,370,000 | -56,303,000 | 44,386,000 | -3,181,000 | 41,819,000 | 12,008,000 |
| overdraft | |||||||
| change in cash | 3,540,000 | 5,370,000 | -56,303,000 | 44,386,000 | -3,181,000 | 41,819,000 | 12,008,000 |
comet midco limited Credit Report and Business Information
Comet Midco Limited Competitor Analysis
Perform a competitor analysis for comet midco limited by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other mega companies, companies in SW6 area or any other competitors across 12 key performance metrics.
comet midco limited Ownership
COMET MIDCO LIMITED group structure
Comet Midco Limited has 1 subsidiary company.
Ultimate parent company
THE BLACKSTONE GROUP INC
#0126262
COMET TOPCO LTD
#0092321
2 parents
COMET MIDCO LIMITED
10904490
1 subsidiary
comet midco limited directors
Comet Midco Limited currently has 4 directors. The longest serving directors include Mr Haide Hong (Aug 2017) and Mr Lionel Assant (Sep 2017).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Haide Hong | United Kingdom | 40 years | Aug 2017 | - | Director |
| Mr Lionel Assant | 52 years | Sep 2017 | - | Director | |
| Mr Russell Wilcox | England | 54 years | Sep 2017 | - | Director |
| Mrs Lisa Hannant | England | 55 years | Dec 2022 | - | Director |
P&L
January 2024turnover
432.9m
+68%
operating profit
70.6m
-241%
gross margin
58.4%
+14%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
January 2024net assets
-508.6m
-0.13%
total assets
916.3m
-0.06%
cash
47.6m
+0.08%
net assets
Total assets minus all liabilities
comet midco limited company details
company number
10904490
Type
Private limited with Share Capital
industry
64209 - Activities of other holding companies (not including agricultural, production, construction, distribution and financial services holding companies) n.e.c.
incorporation date
August 2017
age
8
incorporated
UK
ultimate parent company
accounts
Group
last accounts submitted
January 2024
previous names
N/A
accountant
-
auditor
ERNST & YOUNG LLP
address
bedford house, 69-79 fulham high street, london, SW6 3JW
Bank
NATIONAL WESTMINSTER BANK PLC
Legal Advisor
-
comet midco 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 found 5 charges/mortgages relating to comet midco limited. Currently there are 5 open charges and 0 have been satisfied in the past.
comet midco 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.
Click to start generating capital raising & share issue transactions for COMET MIDCO LIMITED. This can take several minutes, an email will notify you when this has completed.
comet midco limited Companies House Filings - See Documents
| date | description | view/download |
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