Witham Oil & Paint Limited

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witham oil & paint limited Company Information

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MatureMidHealthy

Company Number

00373551

Website

www.withamgroup.co.uk

Registered Address

outer circle road, lincoln, LN2 4HL

Industry

Other treatment of petroleum products (excluding mineral oil refining/petrochemicals manufacture)

Telephone

01522521192

Next Accounts Due

December 2024

Group Structure

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Directors

Geoffrey Bottom32 Years

Nigel Bottom24 Years

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Shareholders

witham group holdings ltd 100%

witham oil & paint limited Estimated Valuation

£5.7m

Pomanda estimates the enterprise value of WITHAM OIL & PAINT LIMITED at £5.7m based on a Turnover of £10.9m and 0.52x industry multiple (adjusted for size and gross margin).

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Witham Oil & Paint Limited is a live company located in lincoln, LN2 4HL with a Companies House number of 00373551. It operates in the other treatment of petroleum products (excluding petrochemicals manufacture) sector, SIC Code 19209. Founded in April 1942, it's largest shareholder is witham group holdings ltd with a 100% stake. Witham Oil & Paint Limited is a mature, mid sized company, Pomanda has estimated its turnover at £10.9m with healthy growth in recent years.

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Pomanda's financial health check has awarded Witham Oil & Paint Limited a 2 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 6 areas for improvement. Company Health Check FAQs

Health Rating2out of 5

1 Strong

5 Regular

6 Weak

Size

annual sales of £10.9m, make it smaller than the average company (£31.3m)

Growth

3 year (CAGR) sales growth of 9%, show it is growing at a slower rate (11.7%)

EXPORT

Witham Oil & Paint Limited's latest turnover from March 2023 is £10.9 million and the company has net assets of £2 million. According to their latest financial statements, Witham Oil & Paint Limited has 38 employees and maintains cash reserves of £79.1 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Turnover	10,922,868	9,336,997	7,954,983	8,510,841	7,535,636	7,114,874	6,970,590	6,495,164	6,702,569	7,058,595	7,213,022	7,280,514	6,600,822	5,727,283
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	8,669,176	7,377,186	5,926,662	6,545,012	5,645,287	5,088,130	5,011,789	4,738,522	5,027,988	5,299,766	5,781,325	5,749,080	5,005,053	4,268,000
Gross Profit	2,253,692	1,959,811	2,028,321	1,965,829	1,890,349	2,026,745	1,958,801	1,756,642	1,674,581	1,758,829	1,431,697	1,531,434	1,595,769	1,459,283
Admin Expenses	1,805,435	1,829,072	1,696,381	1,875,195	1,812,113	2,051,550	1,941,455	1,263,061	1,577,901	1,483,001	1,047,254	1,281,426	1,326,501	1,236,683
Operating Profit	448,257	130,739	331,940	90,634	78,236	-24,805	17,346	493,581	96,680	275,828	384,443	250,008	269,268	222,600
Interest Payable	131,353	55,570	39,841	59,792	53,900	42,608	34,554	23,081	29,244	29,398	31,338	23,273	15,582	31,251
Interest Receivable	3	26,503	5,147	36	75	80	85	197	505	530	996	108	588	1,206
Pre-Tax Profit	391,907	321,670	397,246	30,878	24,411	-67,333	-17,124	470,698	152,941	321,959	414,101	284,508	311,939	300,220
Tax	-104,717	-35,716	-68,359	-5,867	-4,638	0	0	-94,139	10,204	-43,907	-64,644	-53,153	-54,565	-65,098
Profit After Tax	287,190	285,954	328,887	25,011	19,773	-67,333	-17,124	376,558	163,145	278,052	349,457	231,355	257,374	235,122
Dividends Paid	375,000	275,000	375,000	0	0	0	0	0	160,000	250,000	235,000	205,000	180,000	210,000
Retained Profit	-87,810	10,954	-46,113	25,011	19,773	-67,333	-17,124	376,558	3,145	28,052	114,457	26,355	77,374	25,122
Employee Costs	1,669,143	1,528,581	1,473,218	1,593,596	1,357,305	1,378,687	1,361,573	1,285,930	1,134,376	1,052,760	1,017,000	973,685	904,659	879,112
Number Of Employees	38	37	34	36	36	36	36	34	36	36	33	33	33	32
EBITDA*	677,979	344,653	516,222	289,203	288,891	175,854	207,687	667,974	279,242	435,469	539,089	377,787	402,071	356,994

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Tangible Assets	1,778,079	2,043,602	1,919,287	1,379,044	1,529,830	1,566,378	1,609,297	1,635,101	1,172,500	1,274,795	1,209,581	1,208,846	1,205,514	1,186,801
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	836	0
Investments & Other	127,753	189,501	189,502	189,502	189,502	189,502	189,502	189,502	189,502	189,502	189,502	189,502	189,502	189,502
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	1,905,832	2,233,103	2,108,789	1,568,546	1,719,332	1,755,880	1,798,799	1,824,603	1,362,002	1,464,297	1,399,083	1,398,348	1,395,852	1,376,303
Stock & work in progress	1,698,477	1,597,134	1,275,010	1,363,112	1,282,023	1,267,436	1,488,016	1,364,918	1,303,429	1,312,352	1,253,648	1,265,140	966,062	801,366
Trade Debtors	1,441,668	1,411,499	1,558,435	1,486,257	1,393,036	1,289,799	1,338,299	1,151,532	1,146,494	1,247,297	1,194,434	1,346,836	1,425,920	974,652
Group Debtors	572,065	682,505	599,272	419,671	0	333,724	280,724	353,724	383,624	345,024	344,924	333,324	333,224	332,924
Misc Debtors	170,954	152,050	151,451	144,030	475,508	109,424	98,352	141,396	88,780	103,998	80,617	82,453	76,712	70,896
Cash	79,104	39,211	37,583	71,398	666	19,281	12,699	54,985	23,798	34,254	73,963	34,010	2,444	154,422
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	3,962,268	3,882,399	3,621,751	3,484,468	3,151,233	3,019,664	3,218,090	3,066,555	2,946,125	3,042,925	2,947,586	3,061,763	2,804,362	2,334,260
total assets	5,868,100	6,115,502	5,730,540	5,053,014	4,870,565	4,775,544	5,016,889	4,891,158	4,308,127	4,507,222	4,346,669	4,460,111	4,200,214	3,710,563
Bank overdraft	589,794	800,820	542,705	653,714	622,258	621,831	689,182	416,552	293,619	352,332	357,682	498,268	119,303	41,188
Bank loan	54,190	34,881	75,333	0	0	0	0	0	0	33,789	83,120	56,328	120,000	120,000
Trade Creditors	1,410,097	1,583,016	1,090,884	1,148,393	983,909	750,676	785,705	682,474	721,941	848,671	605,136	935,227	1,036,398	771,092
Group/Directors Accounts	375,415	250,417	538,880	397,055	412,039	923,368	1,066,246	1,204,610	1,210,492	1,270,078	1,217,590	1,086,843	1,059,673	1,004,764
other short term finances	0	0	0	0	70,589	0	0	0	0	0	0	0	0	0
hp & lease commitments	72,123	116,658	62,730	53,657	60,677	41,295	26,005	43,119	33,925	0	24,235	0	0	0
other current liabilities	559,059	425,519	497,146	372,163	293,231	299,911	296,119	340,689	331,558	251,559	333,093	258,873	311,116	196,309
total current liabilities	3,060,678	3,211,311	2,807,678	2,624,982	2,442,703	2,637,081	2,863,257	2,687,444	2,591,535	2,756,429	2,620,856	2,835,539	2,646,490	2,133,353
loans	612,837	722,313	708,934	331,478	282,358	0	0	0	0	17,898	48,432	61,933	30,166	145,468
hp & lease commitments	36,793	96,415	52,621	25,405	79,061	99,358	46,527	72,532	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	150,547	90,408	77,206	65,935	86,240	78,675	79,342	86,295	48,263	67,712	40,249	39,964	27,238	12,796
total long term liabilities	800,177	909,136	838,761	422,818	447,659	178,033	125,869	158,827	48,263	85,610	88,681	101,897	57,404	158,264
total liabilities	3,860,855	4,120,447	3,646,439	3,047,800	2,890,362	2,815,114	2,989,126	2,846,271	2,639,798	2,842,039	2,709,537	2,937,436	2,703,894	2,291,617
net assets	2,007,245	1,995,055	2,084,101	2,005,214	1,980,203	1,960,430	2,027,763	2,044,887	1,668,329	1,665,183	1,637,132	1,522,675	1,496,320	1,418,946
total shareholders funds	2,007,245	1,995,055	2,084,101	2,005,214	1,980,203	1,960,430	2,027,763	2,044,887	1,668,329	1,665,183	1,637,132	1,522,675	1,496,320	1,418,946

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Operating Activities
Operating Profit	448,257	130,739	331,940	90,634	78,236	-24,805	17,346	493,581	96,680	275,828	384,443	250,008	269,268	222,600
Depreciation	229,722	213,914	184,282	198,569	210,655	200,659	190,341	174,393	182,562	159,641	154,646	126,943	131,139	134,394
Amortisation	0	0	0	0	0	0	0	0	0	0	0	836	1,664	0
Tax	-104,717	-35,716	-68,359	-5,867	-4,638	0	0	-94,139	10,204	-43,907	-64,644	-53,153	-54,565	-65,098
Stock	101,343	322,124	-88,102	81,089	14,587	-220,580	123,098	61,489	-8,923	58,704	-11,492	299,078	164,696	801,366
Debtors	-61,367	-63,104	259,200	181,414	135,597	15,572	70,723	27,754	-77,421	76,344	-142,638	-73,243	457,384	1,378,472
Creditors	-172,919	492,132	-57,509	164,484	233,233	-35,029	103,231	-39,467	-126,730	243,535	-330,091	-101,171	265,306	771,092
Accruals and Deferred Income	133,540	-71,627	124,983	78,932	-6,680	3,792	-44,570	9,131	79,999	-81,534	74,220	-52,243	114,807	196,309
Deferred Taxes & Provisions	60,139	13,202	11,271	-20,305	7,565	-667	-6,953	38,032	-19,449	27,463	285	12,726	14,442	12,796
Cash flow from operations	554,046	483,624	355,510	243,944	368,187	348,958	65,574	492,288	309,610	445,978	372,989	-41,889	119,981	-907,745
Investing Activities
capital expenditure	35,801	-338,229	-724,525	-47,783	-174,107	-157,740	-164,537	-636,994	-7,066	-217,354	-157,007	-133,468	-154,287	-149,202
Change in Investments	-61,748	-1	0	0	0	0	0	0	0	0	0	0	0	189,502
cash flow from investments	97,549	-338,228	-724,525	-47,783	-174,107	-157,740	-164,537	-636,994	-7,066	-217,354	-157,007	-133,468	-154,287	-338,704
Financing Activities
Bank loans	19,309	-40,452	75,333	0	0	0	0	0	-33,789	-49,331	26,792	-63,672	0	120,000
Group/Directors Accounts	124,998	-288,463	141,825	-14,984	-511,329	-142,878	-138,364	-5,882	-59,586	52,488	130,747	27,170	54,909	1,004,764
Other Short Term Loans	0	0	0	-70,589	70,589	0	0	0	0	0	0	0	0	0
Long term loans	-109,476	13,379	377,456	49,120	282,358	0	0	0	-17,898	-30,534	-13,501	31,767	-115,302	145,468
Hire Purchase and Lease Commitments	-104,157	97,722	36,289	-60,676	-915	68,121	-43,119	81,726	33,925	-24,235	24,235	0	0	0
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	100,000	-100,000	125,000	0	0	0	0	0	1	-1	0	0	0	1,393,824
interest	-131,350	-29,067	-34,694	-59,756	-53,825	-42,528	-34,469	-22,884	-28,739	-28,868	-30,342	-23,165	-14,994	-30,045
cash flow from financing	-100,676	-346,881	721,209	-156,885	-213,122	-117,285	-215,952	52,960	-106,086	-80,481	137,931	-27,900	-75,387	2,634,011
cash and cash equivalents
cash	39,893	1,628	-33,815	70,732	-18,615	6,582	-42,286	31,187	-10,456	-39,709	39,953	31,566	-151,978	154,422
overdraft	-211,026	258,115	-111,009	31,456	427	-67,351	272,630	122,933	-58,713	-5,350	-140,586	378,965	78,115	41,188
change in cash	250,919	-256,487	77,194	39,276	-19,042	73,933	-314,916	-91,746	48,257	-34,359	180,539	-347,399	-230,093	113,234

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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WITHAM OIL & PAINT LIMITED group structure

Witham Oil & Paint Limited has 7 subsidiary companies.

Ultimate parent company

WITHAM GROUP HOLDINGS LIMITED

05867643

1 parent

WITHAM OIL & PAINT LIMITED

00373551

7 subsidiaries

WITHAM OIL & PAINT (LOWESTOFT) LIMITED

02117373

WITHAM OIL AND GREASE COMPANY LIMITED

03468356

BLENDTEK LIMITED

10184042

UNITAS ENVIRONMENTAL PAINTS LIMITED

02686148

WITHAM MOTORSPORT LIMITED

13179137

UNITED PAINTS LIMITED

03468189

WITHAM OIL & PAINT (SOHAM) LIMITED

02700916

WITHAM OIL & PAINT LIMITED Shareholders

witham group holdings ltd

100%

Witham Oil & Paint Limited currently has 7 directors. The longest serving directors include Mr Geoffrey Bottom (Oct 1991) and Mr Nigel Bottom (Apr 2000).

officer	country	age	start	end	role
Mr Geoffrey Bottom		80 years	Oct 1991	-	Director
Mr Nigel Bottom	England	49 years	Apr 2000	-	Director
Mr Richard Bottom		52 years	Aug 2006	-	Director
Mr Richard Scarbrough		60 years	May 2011	-	Director
Mrs Joanne Welsh		49 years	Sep 2014	-	Director
Mr Dominic Smith		38 years	May 2020	-	Director
Mrs Alison Bottom		57 years	Mar 2021	-	Director

P&L

March 2023

turnover

10.9m

+17%

operating profit

448.3k

+243%

gross margin

20.7%

-1.7%

turnover

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

Balance Sheet

March 2023

net assets

+0.01%

total assets

5.9m

-0.04%

cash

79.1k

+1.02%

net assets

Total assets minus all liabilities

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company number

00373551

Type

Private limited with Share Capital

industry

19209 - Other treatment of petroleum products (excluding mineral oil refining/petrochemicals manufacture)

incorporation date

April 1942

accounts

Full Accounts

ultimate parent company

WITHAM GROUP HOLDINGS LIMITED

previous names

witham oil and grease company limited (August 1998)

last accounts submitted

March 2023

address

outer circle road, lincoln, LN2 4HL

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 7 charges/mortgages relating to witham oil & paint limited. Currently there are 7 open charges and 0 have been satisfied in the past.

witham oil & paint limited Company Information

witham oil & paint limited Estimated Valuation

witham oil & paint limited Estimated Valuation

witham oil & paint limited Estimated Valuation

Witham Oil & Paint Limited Overview

Witham Oil & Paint Limited Health Check

WITHAM OIL & PAINT LIMITED financials

witham oil & paint limited Credit Report and Business Information

Witham Oil & Paint Limited Competitor Analysis

witham oil & paint limited Ownership

witham oil & paint limited directors

witham oil & paint limited company details

witham oil & paint limited Charges & Mortgages

witham oil & paint limited Companies House Filings - See Documents