pancredit systems ltd.
pancredit systems ltd. Company Information
Company Number
02215760
Website
www.pancredit.comRegistered Address
highdown house yeoman way, worthing, west sussex, BN99 3HH
Industry
Business and domestic software development
Telephone
01132500260
Next Accounts Due
September 2024
Group Structure
View All
Shareholders
equiniti holdings ltd 100%
pancredit systems ltd. Estimated Valuation
Pomanda estimates the enterprise value of PANCREDIT SYSTEMS LTD. at £6.8m based on a Turnover of £7.5m and 0.9x industry multiple (adjusted for size and gross margin).
pancredit systems ltd. Estimated Valuation
Pomanda estimates the enterprise value of PANCREDIT SYSTEMS LTD. at £2.6m based on an EBITDA of £402k and a 6.35x industry multiple (adjusted for size and gross margin).
pancredit systems ltd. Estimated Valuation
Pomanda estimates the enterprise value of PANCREDIT SYSTEMS LTD. at £45.5m based on Net Assets of £20.1m and 2.26x industry multiple (adjusted for liquidity).
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Pancredit Systems Ltd. Overview
Pancredit Systems Ltd. is a live company located in west sussex, BN99 3HH with a Companies House number of 02215760. It operates in the business and domestic software development sector, SIC Code 62012. Founded in February 1988, it's largest shareholder is equiniti holdings ltd with a 100% stake. Pancredit Systems Ltd. is a mature, mid sized company, Pomanda has estimated its turnover at £7.5m with declining growth in recent years.
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Pancredit Systems Ltd. Health Check
Pomanda's financial health check has awarded Pancredit Systems Ltd. a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 3 areas for improvement. Company Health Check FAQs
4 Strong
3 Regular
3 Weak
Size
annual sales of £7.5m, make it larger than the average company (£3.7m)
£7.5m - Pancredit Systems Ltd.
£3.7m - Industry AVG
Growth
3 year (CAGR) sales growth of -14%, show it is growing at a slower rate (7.6%)
-14% - Pancredit Systems Ltd.
7.6% - Industry AVG
Production
with a gross margin of 72.1%, this company has a comparable cost of product (72.1%)
72.1% - Pancredit Systems Ltd.
72.1% - Industry AVG
Profitability
an operating margin of 5.3% make it more profitable than the average company (3.6%)
5.3% - Pancredit Systems Ltd.
3.6% - Industry AVG
Employees
with 29 employees, this is similar to the industry average (33)
29 - Pancredit Systems Ltd.
33 - Industry AVG
Pay Structure
on an average salary of £60.4k, the company has an equivalent pay structure (£67.6k)
£60.4k - Pancredit Systems Ltd.
£67.6k - Industry AVG
Efficiency
resulting in sales per employee of £259.6k, this is more efficient (£114.5k)
£259.6k - Pancredit Systems Ltd.
£114.5k - Industry AVG
Debtor Days
it gets paid by customers after 325 days, this is later than average (60 days)
325 days - Pancredit Systems Ltd.
60 days - Industry AVG
Creditor Days
its suppliers are paid after 4 days, this is quicker than average (47 days)
4 days - Pancredit Systems Ltd.
47 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Pancredit Systems Ltd.
- - Industry AVG
Cash Balance
There is insufficient data available for this Key Performance Indicator!
- - Pancredit Systems Ltd.
- - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 20.7%, this is a lower level of debt than the average (62.2%)
20.7% - Pancredit Systems Ltd.
62.2% - Industry AVG
pancredit systems ltd. Credit Report and Business Information
Pancredit Systems Ltd. Competitor Analysis
Perform a competitor analysis for pancredit systems ltd. by selecting its closest rivals and benchmarking them against 12 key performance metrics.
pancredit systems ltd. Ownership
PANCREDIT SYSTEMS LTD. group structure
Pancredit Systems Ltd. has no subsidiary companies.
Ultimate parent company
2 parents
PANCREDIT SYSTEMS LTD.
02215760
pancredit systems ltd. directors
Pancredit Systems Ltd. currently has 4 directors. The longest serving directors include Mr Neville Fell (Jul 2020) and Mr John Pitcher (Apr 2022).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Neville Fell | United Kingdom | 56 years | Jul 2020 | - | Director |
| Mr John Pitcher | 41 years | Apr 2022 | - | Director | |
| Mr Richard Carter | United Kingdom | 56 years | May 2022 | - | Director |
| Mr Richard Carter | United Kingdom | 56 years | May 2022 | - | Director |
PANCREDIT SYSTEMS LTD. financials
Pancredit Systems Ltd.'s latest turnover from December 2022 is £7.5 million and the company has net assets of £20.1 million. According to their latest financial statements, Pancredit Systems Ltd. has 29 employees and maintains cash reserves of 0 as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 7,529,000 | 9,405,000 | 8,233,000 | 11,953,000 | 9,524,000 | 7,935,000 | 7,503,000 | 7,768,000 | 5,288,000 | 5,130,000 | 3,811,247 | 2,694,733 | 2,227,829 | 2,457,633 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | ||||||||||
| Cost Of Sales | 2,031,686 | 1,253,183 | 1,288,831 | 1,458,033 | ||||||||||
| Gross Profit | 1,779,561 | 1,441,550 | 938,998 | 999,600 | ||||||||||
| Admin Expenses | 1,090,956 | 1,088,004 | 1,188,473 | 1,220,281 | ||||||||||
| Operating Profit | 402,000 | 1,489,000 | 1,369,000 | 688,605 | 353,546 | -249,475 | -220,681 | |||||||
| Interest Payable | 0 | 7,000 | 0 | 1,000 | 0 | 1,000 | 4,000 | 1,000 | 0 | 0 | 3,852 | 6,965 | 7,148 | 324 |
| Interest Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7,000 | 4,000 | 827 | 199 | 261 | 4,382 |
| Pre-Tax Profit | 402,000 | 2,388,000 | 4,130,000 | 5,715,000 | 2,595,000 | 469,000 | 1,641,000 | 3,081,000 | 1,496,000 | 1,373,000 | 685,580 | 346,780 | -256,362 | -216,623 |
| Tax | -99,000 | -464,000 | -792,000 | -1,004,000 | -498,000 | -112,000 | -340,000 | -668,000 | -336,000 | -307,000 | 337,255 | 0 | 0 | 2,822 |
| Profit After Tax | 303,000 | 1,924,000 | 3,338,000 | 4,711,000 | 2,097,000 | 357,000 | 1,301,000 | 2,413,000 | 1,160,000 | 1,066,000 | 1,022,835 | 346,780 | -256,362 | -213,801 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 84,508 |
| Retained Profit | 303,000 | 1,924,000 | 3,338,000 | 4,711,000 | 2,097,000 | 357,000 | 1,301,000 | 2,413,000 | 1,160,000 | 1,066,000 | 1,022,835 | 346,780 | -256,362 | -298,309 |
| Employee Costs | 1,753,000 | 2,257,000 | 2,133,000 | 2,562,000 | 2,944,000 | 3,568,000 | 3,387,000 | 3,286,000 | 3,024,000 | 2,256,000 | 1,506,069 | 1,738,120 | ||
| Number Of Employees | 29 | 31 | 32 | 38 | 45 | 56 | 58 | 54 | 42 | 39 | 35 | 40 | ||
| EBITDA* | 402,000 | 1,572,000 | 1,514,000 | 888,667 | 604,457 | -47,409 | -81,848 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 0 | 2,000 | 8,000 | 14,000 | 24,000 | 40,000 | 63,000 | 109,000 | 148,000 | 125,000 | 78,766 | 56,149 | 51,077 | 70,884 |
| Intangible Assets | 1,251,000 | 1,438,000 | 1,318,000 | 1,086,000 | 821,000 | 1,200,000 | 874,000 | 553,000 | 106,000 | 154,000 | 165,418 | 256,751 | 405,720 | 412,731 |
| Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10 | 10 | 10 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 1,251,000 | 1,440,000 | 1,326,000 | 1,100,000 | 845,000 | 1,240,000 | 937,000 | 662,000 | 254,000 | 279,000 | 244,194 | 312,910 | 456,807 | 483,615 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 6,722,000 | 5,985,000 | 5,107,000 | 5,312,000 | 1,254,000 | 1,742,000 | 2,934,000 | 2,382,000 | 1,188,000 | 441,000 | 453,159 | 357,346 | 299,173 | 79,108 |
| Group Debtors | 17,272,000 | 20,691,000 | 18,109,000 | 13,749,000 | 10,776,000 | 7,384,000 | 10,622,000 | 7,585,000 | 4,299,000 | 0 | 0 | 0 | 0 | 0 |
| Misc Debtors | 154,000 | 149,000 | 201,000 | 229,000 | 104,000 | 95,000 | 161,000 | 123,000 | 158,000 | 267,000 | 657,184 | 159,991 | 213,358 | 206,639 |
| Cash | 0 | 0 | 54,000 | 55,000 | 54,000 | 51,000 | 23,000 | 28,000 | 1,043,000 | 3,106,000 | 931,008 | 669,952 | 106,791 | 650,138 |
| misc current assets | 0 | 0 | 0 | 0 | 655,000 | 1,666,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 24,148,000 | 26,825,000 | 23,471,000 | 19,345,000 | 12,843,000 | 10,938,000 | 13,740,000 | 10,118,000 | 6,688,000 | 3,814,000 | 2,041,351 | 1,187,289 | 619,322 | 935,885 |
| total assets | 25,399,000 | 28,265,000 | 24,797,000 | 20,445,000 | 13,688,000 | 12,178,000 | 14,677,000 | 10,780,000 | 6,942,000 | 4,093,000 | 2,285,545 | 1,500,199 | 1,076,129 | 1,419,500 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 24,000 | 3,755,000 | 3,780,000 | 3,395,000 | 0 | 0 | 0 | 0 | 14,000 | 107,000 | 118,710 | 85,226 | 107,425 | 125,352 |
| Group/Directors Accounts | 946,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10 | 10 | 10 | 0 |
| other short term finances | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 180,840 | 106,080 | 8,160 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 4,228,000 | 4,658,000 | 3,097,000 | 2,438,000 | 3,761,000 | 4,360,000 | 7,286,000 | 4,716,000 | 3,278,000 | 1,549,000 | 805,301 | 895,434 | 795,945 | 865,037 |
| total current liabilities | 5,198,000 | 8,413,000 | 6,877,000 | 5,833,000 | 3,761,000 | 4,360,000 | 7,286,000 | 4,716,000 | 3,292,000 | 1,656,000 | 924,021 | 1,161,510 | 1,009,460 | 998,549 |
| loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 89,760 | 187,680 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 69,000 | 46,000 | 30,000 | 90,000 | 142,000 | 152,000 | 34,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 69,000 | 23,000 | 15,000 | 45,000 | 71,000 | 76,000 | 17,000 | 0 | 0 | 0 | 0 | 0 | 89,760 | 187,680 |
| total liabilities | 5,267,000 | 8,436,000 | 6,892,000 | 5,878,000 | 3,832,000 | 4,436,000 | 7,303,000 | 4,716,000 | 3,292,000 | 1,656,000 | 924,021 | 1,161,510 | 1,099,220 | 1,186,229 |
| net assets | 20,132,000 | 19,829,000 | 17,905,000 | 14,567,000 | 9,856,000 | 7,742,000 | 7,374,000 | 6,064,000 | 3,650,000 | 2,437,000 | 1,361,524 | 338,689 | -23,091 | 233,271 |
| total shareholders funds | 20,132,000 | 19,829,000 | 17,905,000 | 14,567,000 | 9,856,000 | 7,742,000 | 7,374,000 | 6,064,000 | 3,650,000 | 2,437,000 | 1,361,524 | 338,689 | -23,091 | 233,271 |
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||
| Operating Profit | 402,000 | 1,489,000 | 1,369,000 | 688,605 | 353,546 | -249,475 | -220,681 | |||||||
| Depreciation | 0 | 6,000 | 6,000 | 10,000 | 15,000 | 23,000 | 38,000 | 41,000 | 61,000 | 48,000 | 37,336 | 38,085 | 40,694 | 67,447 |
| Amortisation | 0 | 472,000 | 323,000 | 264,000 | 225,000 | 108,000 | 56,000 | 22,000 | 22,000 | 97,000 | 162,726 | 212,826 | 161,372 | 71,386 |
| Tax | -99,000 | -464,000 | -792,000 | -1,004,000 | -498,000 | -112,000 | -340,000 | -668,000 | -336,000 | -307,000 | 337,255 | 0 | 0 | 2,822 |
| Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors | -2,677,000 | 3,408,000 | 4,127,000 | 7,156,000 | 2,913,000 | -4,496,000 | 3,627,000 | 4,445,000 | 4,937,000 | -402,343 | 593,006 | 4,806 | 226,784 | 285,747 |
| Creditors | -3,731,000 | -25,000 | 385,000 | 3,395,000 | 0 | 0 | 0 | -14,000 | -93,000 | -11,710 | 33,484 | -22,199 | -17,927 | 125,352 |
| Accruals and Deferred Income | -430,000 | 1,561,000 | 659,000 | -1,323,000 | -599,000 | -2,926,000 | 2,570,000 | 1,438,000 | 1,729,000 | 743,699 | -90,133 | 99,489 | -69,092 | 865,037 |
| Deferred Taxes & Provisions | 23,000 | 16,000 | -60,000 | -52,000 | -10,000 | 118,000 | 34,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow from operations | -1,158,000 | -2,065,000 | 2,341,332 | 576,267 | 676,941 | -361,212 | 625,616 | |||||||
| Investing Activities | ||||||||||||||
| capital expenditure | ||||||||||||||
| Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -10 | 0 | 0 | 10 | 0 |
| cash flow from investments | ||||||||||||||
| Financing Activities | ||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 946,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -10 | 0 | 0 | 10 | 0 |
| Other Short Term Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -180,840 | 74,760 | 97,920 | 8,160 |
| Long term loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -89,760 | -97,920 | 187,680 |
| Hire Purchase and Lease Commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| share issue | ||||||||||||||
| interest | 0 | -7,000 | 0 | -1,000 | 0 | -1,000 | -4,000 | -1,000 | 7,000 | 4,000 | -3,025 | -6,766 | -6,887 | 4,058 |
| cash flow from financing | 946,000 | -7,000 | 0 | -1,000 | 17,000 | 10,000 | 5,000 | 0 | 60,000 | 13,466 | -183,865 | -6,766 | -6,877 | 731,478 |
| cash and cash equivalents | ||||||||||||||
| cash | 0 | -54,000 | -1,000 | 1,000 | 3,000 | 28,000 | -5,000 | -1,015,000 | -2,063,000 | 2,174,992 | 261,056 | 563,161 | -543,347 | 650,138 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | 0 | -54,000 | -1,000 | 1,000 | 3,000 | 28,000 | -5,000 | -1,015,000 | -2,063,000 | 2,174,992 | 261,056 | 563,161 | -543,347 | 650,138 |
P&L
December 2022turnover
7.5m
-20%
operating profit
402k
0%
gross margin
72.2%
-2.5%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2022net assets
20.1m
+0.02%
total assets
25.4m
-0.1%
cash
0
0%
net assets
Total assets minus all liabilities
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pancredit systems ltd. company details
company number
02215760
Type
Private limited with Share Capital
industry
62012 - Business and domestic software development
incorporation date
February 1988
age
36
accounts
Total Exemption Full
ultimate parent company
previous names
wagetalk limited (September 1988)
incorporated
UK
address
highdown house yeoman way, worthing, west sussex, BN99 3HH
last accounts submitted
December 2022
pancredit systems ltd. 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 9 charges/mortgages relating to pancredit systems ltd.. Currently there are 1 open charges and 8 have been satisfied in the past.
pancredit systems ltd. Companies House Filings - See Documents
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