thorntons limited Company Information
Company Number
00174706
Next Accounts
May 2025
Industry
Manufacture of cocoa, and chocolate confectionery
Shareholders
ferholding uk limited
Group Structure
View All
Contact
Registered Address
889 greenford road, greenford, middlesex, UB6 0HE
Website
http://www.thorntons.comthorntons limited Estimated Valuation
Pomanda estimates the enterprise value of THORNTONS LIMITED at £122.4m based on a Turnover of £66m and 1.86x industry multiple (adjusted for size and gross margin).
thorntons limited Estimated Valuation
Pomanda estimates the enterprise value of THORNTONS LIMITED at £101.2m based on an EBITDA of £8.2m and a 12.33x industry multiple (adjusted for size and gross margin).
thorntons limited Estimated Valuation
Pomanda estimates the enterprise value of THORNTONS LIMITED at £80.8m based on Net Assets of £36.5m and 2.21x industry multiple (adjusted for liquidity).
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Thorntons Limited Overview
Thorntons Limited is a live company located in middlesex, UB6 0HE with a Companies House number of 00174706. It operates in the manufacture of cocoa and chocolate confectionery sector, SIC Code 10821. Founded in May 1921, it's largest shareholder is ferholding uk limited with a 100% stake. Thorntons Limited is a mature, large sized company, Pomanda has estimated its turnover at £66m with declining growth in recent years.
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Thorntons Limited Health Check
Pomanda's financial health check has awarded Thorntons Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 2 areas for improvement. Company Health Check FAQs
6 Strong
4 Regular
2 Weak
Size
annual sales of £66m, make it larger than the average company (£20.5m)
£66m - Thorntons Limited
£20.5m - Industry AVG
Growth
3 year (CAGR) sales growth of -14%, show it is growing at a slower rate (5.3%)
-14% - Thorntons Limited
5.3% - Industry AVG
Production
with a gross margin of 30.3%, this company has a lower cost of product (24.6%)
30.3% - Thorntons Limited
24.6% - Industry AVG
Profitability
an operating margin of 5.1% make it more profitable than the average company (3.5%)
5.1% - Thorntons Limited
3.5% - Industry AVG
Employees
with 478 employees, this is above the industry average (155)
478 - Thorntons Limited
155 - Industry AVG
Pay Structure
on an average salary of £41.3k, the company has an equivalent pay structure (£38.3k)
£41.3k - Thorntons Limited
£38.3k - Industry AVG
Efficiency
resulting in sales per employee of £138k, this is equally as efficient (£141.7k)
£138k - Thorntons Limited
£141.7k - Industry AVG
Debtor Days
it gets paid by customers after 0 days, this is earlier than average (41 days)
0 days - Thorntons Limited
41 days - Industry AVG
Creditor Days
its suppliers are paid after 51 days, this is slower than average (46 days)
51 days - Thorntons Limited
46 days - Industry AVG
Stock Days
it holds stock equivalent to 59 days, this is in line with average (52 days)
59 days - Thorntons Limited
52 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 0 weeks, this is less cash available to meet short term requirements (5 weeks)
0 weeks - Thorntons Limited
5 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 68.3%, this is a similar level of debt than the average (64.6%)
68.3% - Thorntons Limited
64.6% - Industry AVG
THORNTONS LIMITED financials
Thorntons Limited's latest turnover from August 2023 is £66 million and the company has net assets of £36.5 million. According to their latest financial statements, Thorntons Limited has 478 employees and maintains cash reserves of £589 thousand as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
Aug 2023 | Aug 2022 | Aug 2021 | Aug 2020 | Aug 2019 | Aug 2018 | Aug 2017 | Aug 2016 | Aug 2015 | Jun 2014 | Jun 2013 | Jun 2012 | Jun 2011 | Jun 2010 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Turnover | 65,976,000 | 76,512,000 | 86,491,000 | 103,718,000 | 122,321,000 | 135,166,000 | 139,794,000 | 191,301,000 | 224,545,000 | 222,437,000 | 221,052,000 | 217,144,000 | 218,255,000 | 214,553,000 |
Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cost Of Sales | 45,998,000 | 56,040,000 | 75,472,000 | 81,653,000 | 99,372,000 | 102,493,000 | 97,133,000 | 118,036,000 | 131,048,000 | 125,249,000 | 124,293,000 | 121,507,000 | 117,516,000 | 108,009,000 |
Gross Profit | 19,978,000 | 20,472,000 | 11,019,000 | 22,065,000 | 22,949,000 | 32,673,000 | 42,661,000 | 73,265,000 | 93,497,000 | 97,188,000 | 96,759,000 | 95,637,000 | 100,739,000 | 106,544,000 |
Admin Expenses | 16,643,000 | 17,412,000 | 36,857,000 | 55,756,000 | 54,607,000 | 64,705,000 | 77,641,000 | 90,102,000 | 101,740,000 | 88,551,000 | 89,664,000 | 95,940,000 | 99,887,000 | 98,962,000 |
Operating Profit | 3,335,000 | 3,060,000 | -25,838,000 | -33,691,000 | -31,658,000 | -32,032,000 | -34,980,000 | -16,837,000 | -8,243,000 | 8,637,000 | 7,095,000 | -303,000 | 852,000 | 7,582,000 |
Interest Payable | 2,600,000 | 1,061,000 | 993,000 | 3,645,000 | 3,502,000 | 3,014,000 | 1,620,000 | 1,342,000 | 2,339,000 | 2,691,000 | 2,832,000 | 1,876,000 | 1,934,000 | 1,657,000 |
Interest Receivable | 0 | 0 | 115,000 | 0 | 0 | 0 | 20,000 | 377,000 | 73,000 | 22,000 | 25,000 | 2,000 | 11,000 | 212,000 |
Pre-Tax Profit | 2,617,000 | 1,878,000 | -26,716,000 | -37,661,000 | -35,023,000 | -35,860,000 | -37,523,000 | -19,145,000 | -11,820,000 | 5,968,000 | 4,288,000 | -2,214,000 | -1,071,000 | 6,137,000 |
Tax | -1,773,000 | 20,324,000 | 8,755,000 | 2,226,000 | -535,000 | -2,445,000 | 6,463,000 | 197,000 | 4,060,000 | -696,000 | -1,208,000 | 1,316,000 | 818,000 | -1,783,000 |
Profit After Tax | 844,000 | 22,202,000 | -17,961,000 | -35,435,000 | -35,558,000 | -38,305,000 | -31,060,000 | -18,948,000 | -7,760,000 | 5,272,000 | 3,080,000 | -898,000 | -253,000 | 4,354,000 |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 167,000 | 4,054,000 | 4,553,000 |
Retained Profit | 844,000 | 22,202,000 | -17,961,000 | -35,435,000 | -35,558,000 | -38,305,000 | -31,060,000 | -18,948,000 | -7,760,000 | 5,272,000 | 3,080,000 | -1,065,000 | -4,307,000 | -199,000 |
Employee Costs | 19,728,000 | 23,294,000 | 38,752,000 | 41,987,000 | 46,900,000 | 53,443,000 | 53,758,000 | 55,709,000 | 71,292,000 | 66,083,000 | 61,956,000 | 59,874,000 | 64,930,000 | 66,583,000 |
Number Of Employees | 478 | 550 | 1,074 | 1,799 | 2,201 | 2,634 | 2,962 | 3,130 | 3,361 | 3,872 | 3,819 | 3,778 | 4,210 | 4,382 |
EBITDA* | 8,206,000 | 10,444,000 | -17,344,000 | -15,406,000 | -25,339,000 | -26,154,000 | -26,450,000 | -9,847,000 | -1,608,000 | 16,087,000 | 15,671,000 | 9,716,000 | 13,070,000 | 18,847,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
Aug 2023 | Aug 2022 | Aug 2021 | Aug 2020 | Aug 2019 | Aug 2018 | Aug 2017 | Aug 2016 | Aug 2015 | Jun 2014 | Jun 2013 | Jun 2012 | Jun 2011 | Jun 2010 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Tangible Assets | 49,259,000 | 33,328,000 | 62,994,000 | 64,685,000 | 31,863,000 | 29,527,000 | 26,091,000 | 23,156,000 | 24,098,000 | 46,216,000 | 44,303,000 | 49,567,000 | 52,667,000 | 58,533,000 |
Intangible Assets | 3,259,000 | 27,124,000 | 946,000 | 2,000,000 | 2,512,000 | 3,431,000 | 2,815,000 | 2,135,000 | 2,312,000 | 1,789,000 | 1,720,000 | 2,140,000 | 2,792,000 | 3,451,000 |
Investments & Other | 7,462,000 | 34,671,000 | 23,544,000 | 23,544,000 | 23,544,000 | 23,555,000 | 23,555,000 | 23,555,000 | 27,361,000 | 0 | 0 | 0 | 0 | 0 |
Debtors (Due After 1 year) | 18,052,000 | 19,166,000 | 9,222,000 | 5,843,000 | 5,745,000 | 6,829,000 | 9,062,000 | 9,602,000 | 9,818,000 | 0 | 0 | 0 | 0 | 0 |
Total Fixed Assets | 78,032,000 | 114,289,000 | 96,706,000 | 96,072,000 | 63,664,000 | 63,342,000 | 61,523,000 | 58,448,000 | 63,589,000 | 48,005,000 | 46,023,000 | 51,707,000 | 55,459,000 | 61,984,000 |
Stock & work in progress | 7,531,000 | 12,530,000 | 8,229,000 | 14,305,000 | 20,301,000 | 25,526,000 | 41,915,000 | 40,617,000 | 55,028,000 | 47,573,000 | 38,990,000 | 38,070,000 | 37,018,000 | 30,393,000 |
Trade Debtors | 78,000 | 834,000 | 558,000 | 1,158,000 | 1,833,000 | 1,744,000 | 1,322,000 | 4,157,000 | 12,180,000 | 14,685,000 | 11,168,000 | 8,883,000 | 6,827,000 | 6,831,000 |
Group Debtors | 20,952,000 | 19,518,000 | 20,976,000 | 29,743,000 | 42,242,000 | 25,910,000 | 8,327,000 | 7,219,000 | 0 | 0 | 0 | 0 | 0 | 0 |
Misc Debtors | 7,880,000 | 9,572,000 | 14,841,000 | 6,068,000 | 5,222,000 | 5,176,000 | 9,598,000 | 7,623,000 | 8,025,000 | 7,039,000 | 7,417,000 | 6,584,000 | 9,190,000 | 9,146,000 |
Cash | 589,000 | 0 | 1,704,000 | 302,000 | 1,711,000 | 1,259,000 | 3,022,000 | 293,000 | 3,877,000 | 1,085,000 | 2,550,000 | 2,918,000 | 1,752,000 | 1,626,000 |
misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
total current assets | 37,030,000 | 42,454,000 | 46,308,000 | 51,576,000 | 71,309,000 | 59,615,000 | 64,184,000 | 59,909,000 | 79,110,000 | 70,382,000 | 60,125,000 | 56,455,000 | 54,787,000 | 47,996,000 |
total assets | 115,062,000 | 156,743,000 | 143,014,000 | 147,648,000 | 134,973,000 | 122,957,000 | 125,707,000 | 118,357,000 | 142,699,000 | 118,387,000 | 106,148,000 | 108,162,000 | 110,246,000 | 109,980,000 |
Bank overdraft | 0 | 978,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28,300,000 | 28,900,000 | 20,900,000 | 21,700,000 |
Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 57,900,000 | 31,900,000 | 0 | 0 | 0 | 0 |
Trade Creditors | 6,464,000 | 6,942,000 | 6,661,000 | 6,578,000 | 8,212,000 | 7,089,000 | 9,226,000 | 6,460,000 | 16,369,000 | 15,535,000 | 14,735,000 | 15,846,000 | 15,072,000 | 14,169,000 |
Group/Directors Accounts | 61,768,000 | 71,124,000 | 74,943,000 | 41,651,000 | 116,658,000 | 65,624,000 | 15,020,000 | 4,515,000 | 4,452,000 | 0 | 0 | 0 | 0 | 0 |
other short term finances | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
hp & lease commitments | 664,000 | 2,458,000 | 5,472,000 | 6,626,000 | 0 | 143,000 | 279,000 | 281,000 | 478,000 | 763,000 | 983,000 | 1,454,000 | 1,986,000 | 2,390,000 |
other current liabilities | 7,338,000 | 8,651,000 | 14,397,000 | 16,735,000 | 16,724,000 | 16,357,000 | 21,266,000 | 14,911,000 | 14,622,000 | 19,902,000 | 16,477,000 | 13,493,000 | 18,352,000 | 12,132,000 |
total current liabilities | 76,234,000 | 90,153,000 | 101,473,000 | 71,590,000 | 141,594,000 | 89,213,000 | 45,791,000 | 26,167,000 | 93,821,000 | 68,100,000 | 60,495,000 | 59,693,000 | 56,310,000 | 50,391,000 |
loans | 0 | 0 | 0 | 0 | 75,000,000 | 75,000,000 | 75,000,000 | 60,700,000 | 0 | 2,732,000 | 1,600,000 | 3,306,000 | 6,710,000 | 7,114,000 |
hp & lease commitments | 2,309,000 | 24,815,000 | 24,863,000 | 36,936,000 | 0 | 0 | 143,000 | 439,000 | 721,000 | 1,366,000 | 800,000 | 1,653,000 | 3,355,000 | 3,557,000 |
Accruals and Deferred Income | 7,000 | 27,000 | 48,000 | 321,000 | 645,000 | 809,000 | 1,099,000 | 1,391,000 | 1,072,000 | 0 | 0 | 0 | 2,699,000 | 2,827,000 |
other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 29,593,000 | 24,727,000 | 2,490,000 | 0 | 0 |
provisions | 0 | 0 | 190,000 | 335,000 | 11,388,000 | 13,322,000 | 16,045,000 | 3,810,000 | 3,164,000 | 3,816,000 | 3,694,000 | 64,758,000 | 57,146,000 | 54,474,000 |
total long term liabilities | 2,316,000 | 24,842,000 | 34,173,000 | 57,233,000 | 106,528,000 | 104,126,000 | 127,384,000 | 117,475,000 | 43,952,000 | 32,867,000 | 27,374,000 | 36,522,000 | 34,627,000 | 33,621,000 |
total liabilities | 78,550,000 | 114,995,000 | 135,646,000 | 128,823,000 | 248,122,000 | 193,339,000 | 173,175,000 | 143,642,000 | 137,773,000 | 100,967,000 | 87,869,000 | 96,215,000 | 90,937,000 | 84,012,000 |
net assets | 36,512,000 | 41,748,000 | 7,368,000 | 18,825,000 | -113,149,000 | -70,382,000 | -47,468,000 | -25,285,000 | 4,926,000 | 17,420,000 | 18,279,000 | 11,947,000 | 19,309,000 | 25,968,000 |
total shareholders funds | 36,512,000 | 41,748,000 | 7,368,000 | 18,825,000 | -113,149,000 | -70,382,000 | -47,468,000 | -25,285,000 | 4,926,000 | 17,420,000 | 18,279,000 | 11,947,000 | 19,309,000 | 25,968,000 |
Aug 2023 | Aug 2022 | Aug 2021 | Aug 2020 | Aug 2019 | Aug 2018 | Aug 2017 | Aug 2016 | Aug 2015 | Jun 2014 | Jun 2013 | Jun 2012 | Jun 2011 | Jun 2010 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities | ||||||||||||||
Operating Profit | 3,335,000 | 3,060,000 | -25,838,000 | -33,691,000 | -31,658,000 | -32,032,000 | -34,980,000 | -16,837,000 | -8,243,000 | 8,637,000 | 7,095,000 | -303,000 | 852,000 | 7,582,000 |
Depreciation | 4,545,000 | 6,992,000 | 7,384,000 | 17,607,000 | 5,100,000 | 4,768,000 | 7,520,000 | 6,369,000 | 5,708,000 | 6,474,000 | 7,290,000 | 8,620,000 | 10,576,000 | 9,126,000 |
Amortisation | 326,000 | 392,000 | 1,110,000 | 678,000 | 1,219,000 | 1,110,000 | 1,010,000 | 621,000 | 927,000 | 976,000 | 1,286,000 | 1,399,000 | 1,642,000 | 2,139,000 |
Tax | -1,773,000 | 20,324,000 | 8,755,000 | 2,226,000 | -535,000 | -2,445,000 | 6,463,000 | 197,000 | 4,060,000 | -696,000 | -1,208,000 | 1,316,000 | 818,000 | -1,783,000 |
Stock | -4,999,000 | 4,301,000 | -6,076,000 | -5,996,000 | -5,225,000 | -16,389,000 | 1,298,000 | -14,411,000 | 7,455,000 | 8,583,000 | 920,000 | 1,052,000 | 6,625,000 | 30,393,000 |
Debtors | -2,128,000 | 3,493,000 | 2,785,000 | -12,230,000 | 15,383,000 | 11,350,000 | -292,000 | -1,422,000 | 8,299,000 | 3,139,000 | 3,118,000 | -550,000 | 40,000 | 15,977,000 |
Creditors | -478,000 | 281,000 | 83,000 | -1,634,000 | 1,123,000 | -2,137,000 | 2,766,000 | -9,909,000 | 834,000 | 800,000 | -1,111,000 | 774,000 | 903,000 | 14,169,000 |
Accruals and Deferred Income | -1,333,000 | -5,767,000 | -2,611,000 | -313,000 | 203,000 | -5,199,000 | 6,063,000 | 608,000 | -4,208,000 | 3,425,000 | 2,984,000 | -7,558,000 | 6,092,000 | 14,959,000 |
Deferred Taxes & Provisions | 0 | -190,000 | -145,000 | -11,053,000 | -1,934,000 | -2,723,000 | 12,235,000 | 646,000 | -652,000 | 122,000 | -61,064,000 | 7,612,000 | 2,672,000 | 54,474,000 |
Cash flow from operations | 11,749,000 | 17,298,000 | -7,971,000 | -7,954,000 | -36,640,000 | -33,619,000 | 71,000 | -2,472,000 | -17,328,000 | 8,016,000 | -48,766,000 | 11,358,000 | 16,890,000 | 54,296,000 |
Investing Activities | ||||||||||||||
capital expenditure | ||||||||||||||
Change in Investments | -27,209,000 | 11,127,000 | 0 | 0 | -11,000 | 0 | 0 | -3,806,000 | 27,361,000 | 0 | 0 | 0 | 0 | 0 |
cash flow from investments | ||||||||||||||
Financing Activities | ||||||||||||||
Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -57,900,000 | 26,000,000 | 31,900,000 | 0 | 0 | 0 | 0 |
Group/Directors Accounts | -9,356,000 | -3,819,000 | 33,292,000 | -75,007,000 | 51,034,000 | 50,604,000 | 10,505,000 | 63,000 | 4,452,000 | 0 | 0 | 0 | 0 | 0 |
Other Short Term Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Long term loans | 0 | 0 | 0 | -75,000,000 | 0 | 0 | 14,300,000 | 60,700,000 | -2,732,000 | 1,132,000 | -1,706,000 | -3,404,000 | -404,000 | 7,114,000 |
Hire Purchase and Lease Commitments | -24,300,000 | -3,062,000 | -13,227,000 | 43,562,000 | -143,000 | -279,000 | -298,000 | -479,000 | -930,000 | 346,000 | -1,324,000 | -2,234,000 | -606,000 | 5,947,000 |
other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -29,593,000 | 4,866,000 | 22,237,000 | 2,490,000 | 0 | 0 |
share issue | ||||||||||||||
interest | -2,600,000 | -1,061,000 | -878,000 | -3,645,000 | -3,502,000 | -3,014,000 | -1,600,000 | -965,000 | -2,266,000 | -2,669,000 | -2,807,000 | -1,874,000 | -1,923,000 | -1,445,000 |
cash flow from financing | -42,336,000 | 4,236,000 | 25,691,000 | 57,319,000 | 40,180,000 | 62,702,000 | 31,784,000 | -9,844,000 | -9,803,000 | 29,444,000 | 19,652,000 | -11,319,000 | -5,285,000 | 37,783,000 |
cash and cash equivalents | ||||||||||||||
cash | 589,000 | -1,704,000 | 1,402,000 | -1,409,000 | 452,000 | -1,763,000 | 2,729,000 | -3,584,000 | 2,792,000 | -1,465,000 | -368,000 | 1,166,000 | 126,000 | 1,626,000 |
overdraft | -978,000 | 978,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -28,300,000 | -600,000 | 8,000,000 | -800,000 | 21,700,000 |
change in cash | 1,567,000 | -2,682,000 | 1,402,000 | -1,409,000 | 452,000 | -1,763,000 | 2,729,000 | -3,584,000 | 2,792,000 | 26,835,000 | 232,000 | -6,834,000 | 926,000 | -20,074,000 |
thorntons limited Credit Report and Business Information
Thorntons Limited Competitor Analysis
Perform a competitor analysis for thorntons limited by selecting its closest rivals, whether from the MANUFACTURING sector, other large companies, companies in UB6 area or any other competitors across 12 key performance metrics.
thorntons limited Ownership
THORNTONS LIMITED group structure
Thorntons Limited has 16 subsidiary companies.
Ultimate parent company
FERRERO INTERNATIONAL SA
#0013268
2 parents
THORNTONS LIMITED
00174706
16 subsidiaries
thorntons limited directors
Thorntons Limited currently has 3 directors. The longest serving directors include Mr Philippe Steyaert (Sep 2021) and Mr Valentino Conti (Jan 2022).
officer | country | age | start | end | role |
---|---|---|---|---|---|
Mr Philippe Steyaert | England | 62 years | Sep 2021 | - | Director |
Mr Valentino Conti | England | 49 years | Jan 2022 | - | Director |
Mr Cristiano Santarelli | 55 years | Jan 2023 | - | Director |
P&L
August 2023turnover
66m
-14%
operating profit
3.3m
+9%
gross margin
30.3%
+13.17%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
August 2023net assets
36.5m
-0.13%
total assets
115.1m
-0.27%
cash
589k
0%
net assets
Total assets minus all liabilities
thorntons limited company details
company number
00174706
Type
Private limited with Share Capital
industry
10821 - Manufacture of cocoa, and chocolate confectionery
incorporation date
May 1921
age
103
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
August 2023
previous names
thorntons plc (November 2016)
j.w. thornton limited (January 1988)
accountant
-
auditor
PRICEWATERHOUSECOOPERS LLP
address
889 greenford road, greenford, middlesex, UB6 0HE
Bank
BARCLAYS BANK PLC
Legal Advisor
-
thorntons 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 4 charges/mortgages relating to thorntons limited. Currently there are 3 open charges and 1 have been satisfied in the past.
thorntons limited Capital Raised & Share Issues BETA
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thorntons limited Companies House Filings - See Documents
date | description | view/download |
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