Corbett Farms Limited

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corbett farms limited Company Information

Live

MatureMidHealthy

Company Number

00633546

Website

Registered Address

ox house, shobdon, leominster, herefordshire, HR6 9LT

Industry

Growing of cereals (except rice), leguminous crops and oil seeds

Raising of poultry

Telephone

01568708351

Next Accounts Due

November 2024

Group Structure

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Directors

Penelope Corbett31 Years

Richard Corbett31 Years

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Shareholders

r.g.u. corbett 42.2%

d corbett discretionary settlement 2008 27.6%

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corbett farms limited Estimated Valuation

£11.8m

Pomanda estimates the enterprise value of CORBETT FARMS LIMITED at £11.8m based on Net Assets of £9.8m and 1.21x industry multiple (adjusted for liquidity).

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Corbett Farms Limited is a live company located in leominster, HR6 9LT with a Companies House number of 00633546. It operates in the growing of cereals (except rice), leguminous crops and oil seeds sector, SIC Code 01110. Founded in July 1959, it's largest shareholder is r.g.u. corbett with a 42.2% stake. Corbett Farms Limited is a mature, mid sized company, Pomanda has estimated its turnover at £10.8m with healthy growth in recent years.

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Pomanda's financial health check has awarded Corbett Farms Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 3 areas for improvement. Company Health Check FAQs

Health Rating5out of 5

7 Strong

2 Regular

3 Weak

Size

annual sales of £10.8m, make it in line with the average company (£11m)

Growth

3 year (CAGR) sales growth of 9%, show it is growing at a faster rate (5.4%)

EXPORT

Corbett Farms Limited's latest turnover from February 2023 is £10.8 million and the company has net assets of £9.8 million. According to their latest financial statements, Corbett Farms Limited has 72 employees and maintains cash reserves of £717.7 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017	Feb 2016	Feb 2015	Feb 2014	Feb 2013	Feb 2012	Feb 2011	Feb 2010
Turnover	10,799,380	9,651,712	8,225,140	8,353,774	7,655,097	7,708,025	7,676,857	7,666,489	7,894,844	8,343,687	8,390,854	7,579,778	7,544,160	6,777,556
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	8,829,647	7,672,118	5,746,753	6,482,738	6,240,312	5,755,662	5,997,933	5,923,289	5,987,164	6,027,329	5,963,637	5,284,396	5,213,540	4,752,321
Gross Profit	1,969,733	1,979,594	2,478,387	1,871,036	1,414,785	1,952,363	1,678,924	1,743,200	1,907,680	2,316,358	2,427,217	2,295,382	2,330,620	2,025,235
Admin Expenses	791,547	828,416	792,428	790,528	666,462	696,776	737,215	691,762	744,733	1,187,626	1,176,544	1,559,711	1,723,753	1,588,686
Operating Profit	1,178,186	1,151,178	1,685,959	1,080,508	748,323	1,255,587	941,709	1,051,438	1,162,947	1,128,732	1,250,673	735,671	606,867	436,549
Interest Payable	76,610	23,625	8,988	13,237	14,186	12,237	17,223	23,148	22,066	8,639	13,670	14,897	23,265	30,927
Interest Receivable	15,221	23,380	26,035	29,294	29,596	28,146	7,116	40,974	11,808	4,712	0	0	0	0
Pre-Tax Profit	1,116,797	1,253,153	1,725,506	1,126,565	793,733	1,273,074	931,602	1,069,264	1,152,689	1,124,805	1,227,303	721,274	583,602	405,622
Tax	-206,618	-291,213	-378,849	-243,878	-190,388	-254,672	-333,922	-141,835	-231,474	-283,087	-344,776	-230,588	-186,001	-127,444
Profit After Tax	910,179	961,940	1,346,657	882,687	603,345	1,018,402	597,680	927,429	921,215	841,718	882,527	490,686	397,601	278,178
Dividends Paid	150,000	150,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	200,000	160,000	80,000	60,000
Retained Profit	760,179	811,940	1,046,657	582,687	303,345	718,402	297,680	627,429	621,215	541,718	682,527	330,686	317,601	218,178
Employee Costs	1,792,814	1,696,552	1,563,709	1,442,873	1,231,504	1,178,550	1,282,678	1,122,580	1,201,589	1,095,431	1,263,852	1,133,010	1,167,088	1,360,540
Number Of Employees	72	80	60	63	60	56	53	56	54	42	43	43	47	47
EBITDA*	1,768,447	1,782,899	2,182,714	1,485,244	1,110,035	1,624,967	1,325,305	1,445,696	1,552,720	1,469,083	1,497,851	1,082,490	940,566	777,781

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017	Feb 2016	Feb 2015	Feb 2014	Feb 2013	Feb 2012	Feb 2011	Feb 2010
Tangible Assets	7,510,046	7,423,308	5,216,226	4,052,623	4,099,879	3,763,610	3,954,469	4,195,947	4,192,471	3,210,871	3,104,799	3,366,008	3,377,352	3,305,977
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	726,191	554,748	487,688	376,678	290,452	290,452	6,374	6,374	6,374	6,374	6,374	6,414	6,414	6,414
Debtors (Due After 1 year)	882,222	938,086	979,550	1,021,014	1,115,595	1,221,687	1,234,554	1,299,860	1,329,260	500,360	0	0	0	0
Total Fixed Assets	9,118,459	8,916,142	6,683,464	5,450,315	5,505,926	5,275,749	5,195,397	5,502,181	5,528,105	3,717,605	3,111,173	3,372,422	3,383,766	3,312,391
Stock & work in progress	2,311,253	1,984,178	1,787,819	809,723	721,468	824,655	797,350	943,949	806,957	719,062	871,417	910,329	751,851	778,955
Trade Debtors	817,606	899,403	739,071	460,080	571,317	924,645	922,952	911,701	795,992	436,088	536,853	593,306	708,175	712,602
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	486,727	304,862	364,107	286,685	523,687	183,999	390,631	194,048	149,323	165,616	244,672	81,173	164,127	183,204
Cash	717,740	335,728	1,222,800	2,122,200	922,685	891,872	295,904	692	307	493,192	631,803	501	688	1,168
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	4,333,326	3,524,171	4,113,797	3,678,688	2,739,157	2,825,171	2,406,837	2,050,390	1,752,579	1,813,958	2,284,745	1,585,309	1,624,841	1,675,929
total assets	13,451,785	12,440,313	10,797,261	9,129,003	8,245,083	8,100,920	7,602,234	7,552,571	7,280,684	5,531,563	5,395,918	4,957,731	5,008,607	4,988,320
Bank overdraft	0	0	0	0	0	0	0	33,676	760,319	98,061	96,311	118,448	284,991	531,585
Bank loan	128,993	133,133	0	70,780	68,611	67,688	66,728	64,776	89,695	87,895	86,645	183,525	182,466	177,764
Trade Creditors	1,248,179	618,033	1,265,552	900,264	637,701	669,063	826,952	1,136,518	513,050	471,714	591,602	709,003	631,122	400,787
Group/Directors Accounts	22,851	16,531	7,397	7,397	7,397	7,397	7,397	7,397	40,825	52,760	84,001	115,019	205,649	299,947
other short term finances	74,571	74,010	71,892	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	44,761	66,977	16,470	16,470	14,331	19,991	19,874	17,833	17,833	0	0	0	0
other current liabilities	456,468	617,050	569,343	469,660	344,354	475,700	434,850	358,442	459,306	432,245	570,187	352,639	390,777	418,812
total current liabilities	1,931,062	1,503,518	1,981,161	1,464,571	1,074,533	1,234,179	1,355,918	1,620,683	1,881,028	1,160,508	1,428,746	1,478,634	1,695,005	1,828,895
loans	1,285,499	1,469,750	189,186	262,699	363,241	402,777	471,523	539,585	605,703	172,484	361,152	543,104	723,795	905,219
hp & lease commitments	0	0	44,761	12,737	0	0	14,331	34,321	5,000	22,833	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	435,452	409,952	337,000	190,500	191,500	151,500	166,400	61,600	120,000	128,000	100,000	112,500	97,000	79,000
total long term liabilities	1,720,951	1,879,702	570,947	465,936	554,741	554,277	652,254	635,506	730,703	323,317	461,152	655,604	820,795	984,219
total liabilities	3,652,013	3,383,220	2,552,108	1,930,507	1,629,274	1,788,456	2,008,172	2,256,189	2,611,731	1,483,825	1,889,898	2,134,238	2,515,800	2,813,114
net assets	9,799,772	9,057,093	8,245,153	7,198,496	6,615,809	6,312,464	5,594,062	5,296,382	4,668,953	4,047,738	3,506,020	2,823,493	2,492,807	2,175,206
total shareholders funds	9,799,772	9,057,093	8,245,153	7,198,496	6,615,809	6,312,464	5,594,062	5,296,382	4,668,953	4,047,738	3,506,020	2,823,493	2,492,807	2,175,206

	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017	Feb 2016	Feb 2015	Feb 2014	Feb 2013	Feb 2012	Feb 2011	Feb 2010
Operating Activities
Operating Profit	1,178,186	1,151,178	1,685,959	1,080,508	748,323	1,255,587	941,709	1,051,438	1,162,947	1,128,732	1,250,673	735,671	606,867	436,549
Depreciation	590,261	631,721	496,755	404,736	361,712	369,380	383,596	394,258	389,773	340,351	247,178	346,819	333,699	341,232
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-206,618	-291,213	-378,849	-243,878	-190,388	-254,672	-333,922	-141,835	-231,474	-283,087	-344,776	-230,588	-186,001	-127,444
Stock	327,075	196,359	978,096	88,255	-103,187	27,305	-146,599	136,992	87,895	-152,355	-38,912	158,478	-27,104	778,955
Debtors	44,204	59,623	314,949	-442,820	-119,732	-217,806	142,528	131,034	1,172,511	320,539	107,046	-197,823	-23,504	895,806
Creditors	630,146	-647,519	365,288	262,563	-31,362	-157,889	-309,566	623,468	41,336	-119,888	-117,401	77,881	230,335	400,787
Accruals and Deferred Income	-160,582	47,707	99,683	125,306	-131,346	40,850	76,408	-100,864	27,061	-137,942	217,548	-38,138	-28,035	418,812
Deferred Taxes & Provisions	25,500	72,952	146,500	-1,000	40,000	-14,900	104,800	-58,400	-8,000	28,000	-12,500	15,500	18,000	79,000
Cash flow from operations	1,685,614	708,844	1,122,291	1,982,800	1,019,858	1,428,857	867,096	1,500,039	121,237	787,982	1,172,588	946,490	1,025,473	-125,825
Investing Activities
capital expenditure	0	0	0	0	-684,023	-442,406	-136,503	-406,043	0	-334,024	-73,220	-332,303	-385,886	-161,871
Change in Investments	171,443	67,060	111,010	86,226	0	284,078	0	0	0	0	-40	0	0	6,414
cash flow from investments	-171,443	-67,060	-111,010	-86,226	-684,023	-726,484	-136,503	-406,043	0	-334,024	-73,180	-332,303	-385,886	-168,285
Financing Activities
Bank loans	-4,140	133,133	-70,780	2,169	923	960	1,952	-24,919	1,800	1,250	-96,880	1,059	4,702	177,764
Group/Directors Accounts	6,320	9,134	0	0	0	0	0	-33,428	-11,935	-31,241	-31,018	-90,630	-94,298	299,947
Other Short Term Loans	561	2,118	71,892	0	0	0	0	0	0	0	0	0	0	0
Long term loans	-184,251	1,280,564	-73,513	-100,542	-39,536	-68,746	-68,062	-66,118	433,219	-188,668	-181,952	-180,691	-181,424	905,219
Hire Purchase and Lease Commitments	-44,761	-66,977	82,531	12,737	2,139	-19,991	-19,873	31,362	-17,833	40,666	0	0	0	0
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	-17,500	0	0	0	0	0	0	0	0	0	0	0	0	1,957,028
interest	-61,389	-245	17,047	16,057	15,410	15,909	-10,107	17,826	-10,258	-3,927	-13,670	-14,897	-23,265	-30,927
cash flow from financing	-305,160	1,357,727	27,177	-69,579	-21,064	-71,868	-96,090	-75,277	394,993	-181,920	-323,520	-285,159	-294,285	3,309,031
cash and cash equivalents
cash	382,012	-887,072	-899,400	1,199,515	30,813	595,968	295,212	385	-492,885	-138,611	631,302	-187	-480	1,168
overdraft	0	0	0	0	0	0	-33,676	-726,643	662,258	1,750	-22,137	-166,543	-246,594	531,585
change in cash	382,012	-887,072	-899,400	1,199,515	30,813	595,968	328,888	727,028	-1,155,143	-140,361	653,439	166,356	246,114	-530,417

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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CORBETT FARMS LIMITED group structure

Corbett Farms Limited has 2 subsidiary companies.

Ultimate parent company

CORBETT FARMS LIMITED

00633546

2 subsidiaries

CORBETT FARMS POULTRY LIMITED

15335707

COLDWELL PROPERTIES LIMITED

02195776

CORBETT FARMS LIMITED Shareholders

r.g.u. corbett	42.17%
d corbett discretionary settlement 2008	27.64%
d u corbett discretionary settlement 2012	9.87%
luke uvedale corbett	6.77%
harry william corbett	6.77%
molly alice mary corbett	6.77%

Corbett Farms Limited currently has 5 directors. The longest serving directors include Mrs Penelope Corbett (Dec 1992) and Mr Richard Corbett (Dec 1992).

officer	country	age	start	end	role
Mrs Penelope Corbett		83 years	Dec 1992	-	Director
Mr Richard Corbett		58 years	Dec 1992	-	Director
Mr Richard Gwilliam		80 years	Jun 1995	-	Director
Ms Penelope Corbett	United Kingdom	57 years	Jan 2003	-	Director
Mrs Susannah Hudson		60 years	Dec 2009	-	Director

P&L

February 2023

turnover

10.8m

+12%

operating profit

1.2m

+2%

gross margin

18.3%

-11.07%

turnover

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

Balance Sheet

February 2023

net assets

9.8m

+0.08%

total assets

13.5m

+0.08%

cash

717.7k

+1.14%

net assets

Total assets minus all liabilities

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company number

00633546

Type

Private limited with Share Capital

industry

01110 - Growing of cereals (except rice), leguminous crops and oil seeds

01470 - Raising of poultry

incorporation date

July 1959

age

accounts

Full Accounts

ultimate parent company

None

previous names

N/A

incorporated

address

ox house, shobdon, leominster, herefordshire, HR6 9LT

last accounts submitted

February 2023

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 21 charges/mortgages relating to corbett farms limited. Currently there are 19 open charges and 2 have been satisfied in the past.

corbett farms limited Company Information

corbett farms limited Estimated Valuation

corbett farms limited Estimated Valuation

corbett farms limited Estimated Valuation

Corbett Farms Limited Overview

Corbett Farms Limited Health Check

CORBETT FARMS LIMITED financials

corbett farms limited Credit Report and Business Information

Corbett Farms Limited Competitor Analysis

corbett farms limited Ownership

corbett farms limited directors

corbett farms limited company details

corbett farms limited Charges & Mortgages

corbett farms limited Companies House Filings - See Documents