virgin red limited

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virgin red limited Company Information

Share VIRGIN RED LIMITED

Company Number

11490861

Directors

Peter Norris

Ian Woods

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Shareholders

virgin holdings limited

delta air lines inc

Group Structure

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Industry

Other professional, scientific and technical activities (not including environmental consultancy or quantity surveying) n.e.c.

 

Registered Address

whitfield studios, 50a charlotte street, london, W1T 2NS

Website

virgin.com

virgin red limited Estimated Valuation

£189m

Pomanda estimates the enterprise value of VIRGIN RED LIMITED at £189m based on a Turnover of £112.6m and 1.68x industry multiple (adjusted for size and gross margin).

virgin red limited Estimated Valuation

£236.7m

Pomanda estimates the enterprise value of VIRGIN RED LIMITED at £236.7m based on an EBITDA of £19.6m and a 12.05x industry multiple (adjusted for size and gross margin).

virgin red limited Estimated Valuation

£0

Pomanda estimates the enterprise value of VIRGIN RED LIMITED at £0 based on Net Assets of £-109.4m and 2.3x industry multiple (adjusted for liquidity).

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Virgin Red Limited Overview

Virgin Red Limited is a live company located in london, W1T 2NS with a Companies House number of 11490861. It operates in the other professional, scientific and technical activities n.e.c. sector, SIC Code 74909. Founded in July 2018, it's largest shareholder is virgin holdings limited with a 75% stake. Virgin Red Limited is a young, mega sized company, Pomanda has estimated its turnover at £112.6m with rapid growth in recent years.

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Virgin Red Limited Health Check

Pomanda's financial health check has awarded Virgin Red 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

Health Check Image
Health Rating4.5out of 5
positive_score

7 Strong

positive_score

0 Regular

positive_score

4 Weak

size

Size

annual sales of £112.6m, make it larger than the average company (£2.9m)

£112.6m - Virgin Red Limited

£2.9m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of 84%, show it is growing at a faster rate (7.2%)

84% - Virgin Red Limited

7.2% - Industry AVG

production

Production

with a gross margin of 66.6%, this company has a lower cost of product (45%)

66.6% - Virgin Red Limited

45% - Industry AVG

profitability

Profitability

an operating margin of 12.6% make it more profitable than the average company (5.6%)

12.6% - Virgin Red Limited

5.6% - Industry AVG

employees

Employees

with 194 employees, this is above the industry average (23)

194 - Virgin Red Limited

23 - Industry AVG

paystructure

Pay Structure

on an average salary of £107.5k, the company has a higher pay structure (£53.5k)

£107.5k - Virgin Red Limited

£53.5k - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £580.7k, this is more efficient (£126.3k)

£580.7k - Virgin Red Limited

£126.3k - Industry AVG

debtordays

Debtor Days

it gets paid by customers after 16 days, this is earlier than average (56 days)

16 days - Virgin Red Limited

56 days - Industry AVG

creditordays

Creditor Days

its suppliers are paid after 4 days, this is quicker than average (31 days)

4 days - Virgin Red Limited

31 days - Industry AVG

stockdays

Stock Days

There is insufficient data available for this Key Performance Indicator!

- - Virgin Red Limited

- - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 6 weeks, this is less cash available to meet short term requirements (25 weeks)

6 weeks - Virgin Red Limited

25 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 184.6%, this is a higher level of debt than the average (53.2%)

184.6% - Virgin Red Limited

53.2% - Industry AVG

VIRGIN RED LIMITED financials

EXPORTms excel logo

Virgin Red Limited's latest turnover from December 2023 is £112.6 million and the company has net assets of -£109.4 million. According to their latest financial statements, Virgin Red Limited has 194 employees and maintains cash reserves of £28.8 million as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Turnover112,647,00062,205,00024,034,00018,222,00069,869,000
Other Income Or Grants
Cost Of Sales37,607,00019,623,0007,166,0004,737,00038,161,000
Gross Profit75,040,00042,582,00016,868,00013,485,00031,708,000
Admin Expenses60,835,00041,638,00033,626,00020,551,00035,239,000
Operating Profit14,205,000944,000-16,758,000-7,066,000-3,531,000
Interest Payable3,352,0002,378,0001,549,0001,229,000631,000
Interest Receivable25,00036,000
Pre-Tax Profit10,853,000-1,434,000-18,307,000-8,270,000-4,126,000
Tax-1,072,0003,015,0001,457,000340,000
Profit After Tax9,781,0001,581,000-18,307,000-6,813,000-3,786,000
Dividends Paid
Retained Profit9,781,0001,581,000-18,307,000-6,813,000-3,786,000
Employee Costs20,863,00019,418,00015,058,0009,189,0009,334,000
Number Of Employees19417313610063
EBITDA*19,637,0005,072,000-14,523,000-5,831,000-3,009,000

* Earnings Before Interest, Tax, Depreciation and Amortisation

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Tangible Assets478,000694,0001,102,0001,970,0001,265,000
Intangible Assets26,940,00021,294,00017,261,00011,420,0002,296,000
Investments & Other67,00067,00067,00010,053,00067,000
Debtors (Due After 1 year)
Total Fixed Assets27,485,00022,055,00018,430,00023,443,0003,628,000
Stock & work in progress
Trade Debtors5,053,0004,358,0001,007,000894,0001,528,000
Group Debtors27,527,00026,716,00030,121,00022,207,0008,995,000
Misc Debtors40,481,00021,379,00018,699,00013,479,00021,471,000
Cash28,811,00021,740,00011,684,00014,964,00019,305,000
misc current assets
total current assets101,872,00074,193,00061,511,00051,544,00051,299,000
total assets129,357,00096,248,00079,941,00074,987,00054,927,000
Bank overdraft
Bank loan
Trade Creditors 471,000749,000651,0001,497,000205,000
Group/Directors Accounts35,421,00019,800,00018,153,00022,849,00017,203,000
other short term finances34,000,00034,000,00025,000,00016,000,000
hp & lease commitments165,000365,000525,000511,000
other current liabilities164,196,000158,130,000146,279,000126,861,000116,849,000
total current liabilities234,253,000179,044,000199,608,000176,718,000150,257,000
loans34,000,000
hp & lease commitments81,000
Accruals and Deferred Income
other liabilities525,0008,000
provisions4,510,0002,310,0001,101,000205,000310,000
total long term liabilities4,510,00036,391,0001,101,000730,000318,000
total liabilities238,763,000215,435,000200,709,000177,448,000150,575,000
net assets-109,406,000-119,187,000-120,768,000-102,461,000-95,648,000
total shareholders funds-109,406,000-119,187,000-120,768,000-102,461,000-95,648,000
Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Operating Activities
Operating Profit14,205,000944,000-16,758,000-7,066,000-3,531,000
Depreciation916,000980,000972,000978,00084,000
Amortisation4,516,0003,148,0001,263,000257,000438,000
Tax-1,072,0003,015,0001,457,000340,000
Stock
Debtors20,608,0002,626,00013,247,0004,586,00031,994,000
Creditors-278,00098,000-846,0001,292,000205,000
Accruals and Deferred Income6,066,00011,851,00019,418,00010,012,000116,849,000
Deferred Taxes & Provisions2,200,0001,209,000896,000-105,000310,000
Cash flow from operations5,945,00018,619,000-8,302,0002,239,00082,701,000
Investing Activities
capital expenditure-10,862,000-7,753,000-7,208,000-11,064,000-4,083,000
Change in Investments-9,986,0009,986,00067,000
cash flow from investments-10,862,000-7,753,0002,778,000-21,050,000-4,150,000
Financing Activities
Bank loans
Group/Directors Accounts15,621,0001,647,000-4,696,0005,646,00017,203,000
Other Short Term Loans 34,000,000-34,000,0009,000,0009,000,00016,000,000
Long term loans-34,000,00034,000,000
Hire Purchase and Lease Commitments-281,000-79,00014,000511,000
other long term liabilities-525,000517,0008,000
share issue-91,862,000
interest-3,352,000-2,378,000-1,549,000-1,204,000-595,000
cash flow from financing11,988,000-810,0002,244,00014,470,000-59,246,000
cash and cash equivalents
cash7,071,00010,056,000-3,280,000-4,341,00019,305,000
overdraft
change in cash7,071,00010,056,000-3,280,000-4,341,00019,305,000

virgin red 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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Virgin Red Limited Competitor Analysis

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Perform a competitor analysis for virgin red limited by selecting its closest rivals, whether from the PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES sector, other mega companies, companies in W1T area or any other competitors across 12 key performance metrics.

virgin red limited Ownership

VIRGIN RED LIMITED group structure

Virgin Red Limited has no subsidiary companies.

Ultimate parent company

VIRGIN GROUP HOLDINGS LTD

#0023023

2 parents

VIRGIN RED LIMITED

11490861

VIRGIN RED LIMITED Shareholders

virgin holdings limited 75%
delta air lines inc 25%

virgin red limited directors

Virgin Red Limited currently has 10 directors. The longest serving directors include Mr Peter Norris (Aug 2018) and Mr Ian Woods (Aug 2018).

officercountryagestartendrole
Mr Peter Norris70 years Aug 2018- Director
Mr Ian WoodsUnited Kingdom50 years Aug 2018- Director
Mr Joshua BaylissSwitzerland51 years Nov 2018- Director
Mr Perry CantaruttiUnited Kingdom60 years Oct 2019- Director
Mr Prashant SharmaUnited Kingdom52 years Sep 2020- Director
Ms Siobhan FitzpatrickUnited Kingdom57 years Nov 2020- Director
Ms Siobhan FitzpatrickUnited Kingdom57 years Nov 2020- Director
Mr Oliver ByersUnited Kingdom40 years Nov 2020- Director
Andrea BurchettUnited Kingdom56 years Sep 2023- Director
Mr Joshua KaehlerUnited States40 years Dec 2023- Director

P&L

December 2023

turnover

112.6m

+81%

operating profit

14.2m

+1405%

gross margin

66.7%

-2.69%

turnover

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

Balance Sheet

December 2023

net assets

-109.4m

-0.08%

total assets

129.4m

+0.34%

cash

28.8m

+0.33%

net assets

Total assets minus all liabilities

virgin red limited company details

company number

11490861

Type

Private limited with Share Capital

industry

74909 - Other professional, scientific and technical activities (not including environmental consultancy or quantity surveying) n.e.c.

incorporation date

July 2018

age

7

incorporated

UK

ultimate parent company

VIRGIN GROUP HOLDINGS LTD

accounts

Full Accounts

last accounts submitted

December 2023

previous names

virgin group loyalty company limited (December 2019)

macsco 94 limited (August 2018)

accountant

-

auditor

KPMG LLP

address

whitfield studios, 50a charlotte street, london, W1T 2NS

Bank

LLOYDS TSB BANK PLC

Legal Advisor

-

virgin red 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 virgin red limited.

virgin red 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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virgin red limited Companies House Filings - See Documents

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