FIRST RATE EXCHANGE SERVICES LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -2.5%

  £164,288,000 → £160,216,000

• Cash

  -20.6%

  £46,018,000 → £36,534,000

• Net assets

  -9.6%

  £140,226,000 → £126,758,000

• Employees

  +0.8%

  246 → 248

• Operating profit

  -5.1%

  £66,705,000 → £63,293,000

• Profit before tax

  -3.5%

  £64,319,000 → £62,074,000

• Wages

  -4.3%

  £18,794,000 → £17,984,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. FIRST RATE EXCHANGE SERVICES LIMITED 2006-02-23 → present
2. FIRST RATE TRAVEL SERVICES LIMITED 2002-06-11 → 2006-02-23
3. FRTS 2 LIMITED 2001-11-26 → 2002-06-11
4. INTERCEDE 1743 LIMITED 2001-09-14 → 2001-11-26

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis. In reviewing the going concern of the Company, the Directors have considered the financial plan for the next twelve months and the general forecast for the travel market. Consumer research continues to evidence strong demand for overseas travel, although FX cash demand is forecast to decline slightly and higher costs linked to inflation. The Company continues to show positive cash balances and net assets in the financial plan. The Directors are therefore satisfied that the Company is able to meet its obligations as they fall due, for a period of at least 12 months from the date of this report.”

Significant events

• “The Company's trading performance for the financial year remained strong with the travel market continuing to recover. The performance was lower than the prior year due to consumer FX cash demand declining slightly and higher costs linked to inflation.”
• “There is instability in both the UK and overseas economic environments. Although the longer-term effects remain unknown, the Company has continued to perform strongly in 2024 despite inflationary pressure and currency fluctuations.”
• “These considerations include the potential impact on demand for foreign currency products and exposure to service providers in these areas.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

13

last 12 months

Capital events

0

last 24 months

Officers appointed

5

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.