workstrings international limited
workstrings international limited Company Information
Company Number
01083092
Next Accounts
Sep 2025
Shareholders
superior energy services (uk) limited
Group Structure
View All
Industry
Repair of fabricated metal products
+1Registered Address
c/o brodies llp, 90 bartholomew close, london, EC1A 7EB
workstrings international limited Estimated Valuation
Pomanda estimates the enterprise value of WORKSTRINGS INTERNATIONAL LIMITED at £47.9m based on a Turnover of £42.5m and 1.13x industry multiple (adjusted for size and gross margin).
workstrings international limited Estimated Valuation
Pomanda estimates the enterprise value of WORKSTRINGS INTERNATIONAL LIMITED at £154.2m based on an EBITDA of £20.6m and a 7.47x industry multiple (adjusted for size and gross margin).
workstrings international limited Estimated Valuation
Pomanda estimates the enterprise value of WORKSTRINGS INTERNATIONAL LIMITED at £44.1m based on Net Assets of £19.1m and 2.31x industry multiple (adjusted for liquidity).
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Workstrings International Limited Overview
Workstrings International Limited is a live company located in london, EC1A 7EB with a Companies House number of 01083092. It operates in the repair of fabricated metal products sector, SIC Code 33110. Founded in November 1972, it's largest shareholder is superior energy services (uk) limited with a 100% stake. Workstrings International Limited is a mature, large sized company, Pomanda has estimated its turnover at £42.5m with high growth in recent years.
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Workstrings International Limited Health Check
Pomanda's financial health check has awarded Workstrings International Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 3 areas for improvement. Company Health Check FAQs
6 Strong
2 Regular
3 Weak
Size
annual sales of £42.5m, make it larger than the average company (£5.6m)
£42.5m - Workstrings International Limited
£5.6m - Industry AVG
Growth
3 year (CAGR) sales growth of 27%, show it is growing at a faster rate (16.9%)
27% - Workstrings International Limited
16.9% - Industry AVG
Production
with a gross margin of 47%, this company has a comparable cost of product (47.6%)
47% - Workstrings International Limited
47.6% - Industry AVG
Profitability
an operating margin of 45.2% make it more profitable than the average company (10.5%)
45.2% - Workstrings International Limited
10.5% - Industry AVG
Employees
with 24 employees, this is similar to the industry average (27)
24 - Workstrings International Limited
27 - Industry AVG
Pay Structure
on an average salary of £76k, the company has a higher pay structure (£33.1k)
£76k - Workstrings International Limited
£33.1k - Industry AVG
Efficiency
resulting in sales per employee of £1.8m, this is more efficient (£176k)
£1.8m - Workstrings International Limited
£176k - Industry AVG
Debtor Days
it gets paid by customers after 96 days, this is later than average (55 days)
96 days - Workstrings International Limited
55 days - Industry AVG
Creditor Days
its suppliers are paid after 4 days, this is quicker than average (35 days)
4 days - Workstrings International Limited
35 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Workstrings International Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 25 weeks, this is more cash available to meet short term requirements (10 weeks)
25 weeks - Workstrings International Limited
10 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 25.9%, this is a lower level of debt than the average (70.1%)
25.9% - Workstrings International Limited
70.1% - Industry AVG
WORKSTRINGS INTERNATIONAL LIMITED financials
Workstrings International Limited's latest turnover from December 2023 is £42.5 million and the company has net assets of £19.1 million. According to their latest financial statements, Workstrings International Limited has 24 employees and maintains cash reserves of £3.3 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2023 | 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 | 42,519,000 | 25,767,000 | 17,384,000 | 20,882,000 | 25,517,000 | 20,690,000 | 14,652,000 | 19,917,000 | 36,360,000 | 47,031,000 | 47,403,000 | 32,680,000 | 26,278,000 | 29,150,000 | 29,244,000 |
| Other Income Or Grants | |||||||||||||||
| Cost Of Sales | 22,537,000 | 15,342,000 | 11,977,000 | 12,375,000 | 17,932,000 | 17,138,000 | 13,846,000 | 17,417,000 | 13,275,000 | 24,370,000 | 24,971,000 | 21,239,000 | 20,197,000 | 19,079,000 | 17,402,000 |
| Gross Profit | 19,982,000 | 10,425,000 | 5,407,000 | 8,507,000 | 7,585,000 | 3,552,000 | 806,000 | 2,500,000 | 23,085,000 | 22,661,000 | 22,432,000 | 11,441,000 | 6,081,000 | 10,071,000 | 11,842,000 |
| Admin Expenses | 751,000 | 995,000 | 1,206,000 | 2,207,000 | 2,280,000 | 2,332,000 | 2,414,000 | 4,856,000 | 14,568,000 | 4,315,000 | 5,804,000 | 6,696,000 | 8,167,000 | 4,136,000 | 4,981,000 |
| Operating Profit | 19,231,000 | 9,430,000 | 4,201,000 | 6,300,000 | 5,305,000 | 1,220,000 | -1,608,000 | -2,356,000 | 8,517,000 | 18,346,000 | 16,628,000 | 4,745,000 | -2,086,000 | 5,935,000 | 6,861,000 |
| Interest Payable | 1,491,000 | 103,000 | 844,000 | 806,000 | 19,000 | 12,000 | |||||||||
| Interest Receivable | 65,000 | 2,027,000 | 7,000 | 789,000 | 571,000 | 8,000 | 1,000 | 3,000 | 14,000 | 23,000 | 38,000 | ||||
| Pre-Tax Profit | 17,805,000 | 11,457,000 | 4,105,000 | 5,456,000 | 4,499,000 | 1,990,000 | -2,340,000 | 5,522,000 | 10,458,000 | 18,347,000 | 16,628,000 | 4,748,000 | -2,072,000 | 5,958,000 | 6,899,000 |
| Tax | -4,507,000 | -2,379,000 | -594,000 | -267,000 | -2,078,000 | -816,000 | 678,000 | -3,024,000 | -670,000 | 442,000 | -1,038,000 | -1,342,000 | -447,000 | -51,000 | -1,143,000 |
| Profit After Tax | 13,298,000 | 9,078,000 | 3,511,000 | 5,189,000 | 2,421,000 | 1,174,000 | -1,662,000 | 2,498,000 | 9,788,000 | 18,789,000 | 15,590,000 | 3,406,000 | -2,519,000 | 5,907,000 | 5,756,000 |
| Dividends Paid | 32,660,000 | 2,537,000 | 6,838,000 | 4,990,000 | 4,816,000 | 4,583,000 | 7,875,000 | 59,259,000 | |||||||
| Retained Profit | -19,362,000 | 6,541,000 | -3,327,000 | 199,000 | -2,395,000 | -3,409,000 | -9,537,000 | -56,761,000 | 9,788,000 | 18,789,000 | 15,590,000 | 3,406,000 | -2,519,000 | 5,907,000 | 5,756,000 |
| Employee Costs | 1,824,000 | 1,849,000 | 1,388,000 | 1,718,000 | 2,278,000 | 2,083,000 | 2,512,000 | 3,595,000 | 4,448,000 | 3,581,000 | 3,269,000 | 3,230,000 | 3,136,000 | 3,170,000 | 2,992,000 |
| Number Of Employees | 24 | 26 | 25 | 33 | 42 | 41 | 43 | 66 | 68 | 66 | 67 | 67 | 69 | 63 | 64 |
| EBITDA* | 20,641,000 | 11,081,000 | 6,856,000 | 10,271,000 | 10,639,000 | 7,656,000 | 5,911,000 | 6,072,000 | 17,372,000 | 27,492,000 | 25,774,000 | 13,747,000 | 6,814,000 | 14,181,000 | 14,160,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | 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 | 6,246,000 | 5,764,000 | 6,732,000 | 9,426,000 | 13,498,000 | 17,025,000 | 23,542,000 | 31,134,000 | 38,823,000 | 39,833,000 | 32,111,000 | 32,112,000 | 34,318,000 | 33,082,000 | 37,225,000 |
| Intangible Assets | |||||||||||||||
| Investments & Other | |||||||||||||||
| Debtors (Due After 1 year) | 2,728,000 | 2,414,000 | |||||||||||||
| Total Fixed Assets | 6,246,000 | 5,764,000 | 6,732,000 | 9,426,000 | 13,498,000 | 17,025,000 | 23,542,000 | 31,134,000 | 38,823,000 | 39,833,000 | 32,111,000 | 32,112,000 | 34,318,000 | 35,810,000 | 39,639,000 |
| Stock & work in progress | |||||||||||||||
| Trade Debtors | 11,275,000 | 6,243,000 | 3,305,000 | 2,347,000 | 4,909,000 | 3,265,000 | 1,996,000 | 6,010,000 | 4,486,000 | 8,564,000 | 11,421,000 | 10,835,000 | 8,950,000 | 9,512,000 | 9,433,000 |
| Group Debtors | 903,000 | 27,089,000 | 20,791,000 | 18,643,000 | 17,478,000 | 15,690,000 | 13,103,000 | 14,040,000 | 65,868,000 | 50,731,000 | 28,480,000 | 23,465,000 | 8,985,000 | 8,214,000 | 7,047,000 |
| Misc Debtors | 4,010,000 | 3,320,000 | 2,489,000 | 3,067,000 | 2,687,000 | 2,516,000 | 2,649,000 | 2,411,000 | 3,849,000 | 3,674,000 | 3,090,000 | 1,147,000 | 2,940,000 | 3,292,000 | 322,000 |
| Cash | 3,309,000 | 3,409,000 | 1,618,000 | 4,390,000 | 2,543,000 | 3,360,000 | 2,780,000 | 1,451,000 | 3,306,000 | 4,262,000 | 14,121,000 | 2,574,000 | 8,943,000 | 10,466,000 | 4,839,000 |
| misc current assets | |||||||||||||||
| total current assets | 19,497,000 | 40,061,000 | 28,203,000 | 28,447,000 | 27,617,000 | 24,831,000 | 20,528,000 | 23,912,000 | 77,509,000 | 67,231,000 | 57,112,000 | 38,021,000 | 29,818,000 | 31,484,000 | 21,641,000 |
| total assets | 25,743,000 | 45,825,000 | 34,935,000 | 37,873,000 | 41,115,000 | 41,856,000 | 44,070,000 | 55,046,000 | 116,332,000 | 107,064,000 | 89,223,000 | 70,133,000 | 64,136,000 | 67,294,000 | 61,280,000 |
| Bank overdraft | |||||||||||||||
| Bank loan | |||||||||||||||
| Trade Creditors | 289,000 | 296,000 | 271,000 | 182,000 | 329,000 | 194,000 | 280,000 | 359,000 | 1,301,000 | 2,114,000 | 984,000 | 772,000 | 821,000 | 706,000 | 621,000 |
| Group/Directors Accounts | 4,922,000 | 5,199,000 | 2,286,000 | 1,658,000 | 4,442,000 | 2,479,000 | 1,554,000 | 2,290,000 | 5,063,000 | 5,049,000 | 3,155,000 | 2,065,000 | 726,000 | 615,000 | 951,000 |
| other short term finances | |||||||||||||||
| hp & lease commitments | |||||||||||||||
| other current liabilities | 1,464,000 | 1,946,000 | 555,000 | 807,000 | 1,298,000 | 1,756,000 | 1,413,000 | 2,050,000 | 2,091,000 | 1,887,000 | 5,809,000 | 3,611,000 | 2,310,000 | 4,208,000 | 3,023,000 |
| total current liabilities | 6,675,000 | 7,441,000 | 3,112,000 | 2,647,000 | 6,069,000 | 4,429,000 | 3,247,000 | 4,699,000 | 8,455,000 | 9,050,000 | 9,948,000 | 6,448,000 | 3,857,000 | 5,529,000 | 4,595,000 |
| loans | |||||||||||||||
| hp & lease commitments | |||||||||||||||
| Accruals and Deferred Income | |||||||||||||||
| other liabilities | |||||||||||||||
| provisions | 827,000 | ||||||||||||||
| total long term liabilities | 827,000 | ||||||||||||||
| total liabilities | 6,675,000 | 7,441,000 | 3,112,000 | 2,647,000 | 6,069,000 | 4,429,000 | 3,247,000 | 4,699,000 | 8,455,000 | 9,050,000 | 9,948,000 | 6,448,000 | 3,857,000 | 5,529,000 | 5,422,000 |
| net assets | 19,068,000 | 38,384,000 | 31,823,000 | 35,226,000 | 35,046,000 | 37,427,000 | 40,823,000 | 50,347,000 | 107,877,000 | 98,014,000 | 79,275,000 | 63,685,000 | 60,279,000 | 61,765,000 | 55,858,000 |
| total shareholders funds | 19,068,000 | 38,384,000 | 31,823,000 | 35,226,000 | 35,046,000 | 37,427,000 | 40,823,000 | 50,347,000 | 107,877,000 | 98,014,000 | 79,275,000 | 63,685,000 | 60,279,000 | 61,765,000 | 55,858,000 |
| Dec 2023 | 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 | 19,231,000 | 9,430,000 | 4,201,000 | 6,300,000 | 5,305,000 | 1,220,000 | -1,608,000 | -2,356,000 | 8,517,000 | 18,346,000 | 16,628,000 | 4,745,000 | -2,086,000 | 5,935,000 | 6,861,000 |
| Depreciation | 1,410,000 | 1,651,000 | 2,655,000 | 3,971,000 | 5,334,000 | 6,436,000 | 7,519,000 | 8,428,000 | 8,855,000 | 9,146,000 | 9,146,000 | 9,002,000 | 8,900,000 | 8,246,000 | 7,299,000 |
| Amortisation | |||||||||||||||
| Tax | -4,507,000 | -2,379,000 | -594,000 | -267,000 | -2,078,000 | -816,000 | 678,000 | -3,024,000 | -670,000 | 442,000 | -1,038,000 | -1,342,000 | -447,000 | -51,000 | -1,143,000 |
| Stock | |||||||||||||||
| Debtors | -20,464,000 | 10,067,000 | 2,528,000 | -1,017,000 | 3,603,000 | 3,723,000 | -4,713,000 | -51,742,000 | 11,234,000 | 19,978,000 | 7,544,000 | 14,572,000 | -2,871,000 | 4,530,000 | 19,216,000 |
| Creditors | -7,000 | 25,000 | 89,000 | -147,000 | 135,000 | -86,000 | -79,000 | -942,000 | -813,000 | 1,130,000 | 212,000 | -49,000 | 115,000 | 85,000 | 621,000 |
| Accruals and Deferred Income | -482,000 | 1,391,000 | -252,000 | -491,000 | -458,000 | 343,000 | -637,000 | -41,000 | 204,000 | -3,922,000 | 2,198,000 | 1,301,000 | -1,898,000 | 1,185,000 | 3,023,000 |
| Deferred Taxes & Provisions | -827,000 | 827,000 | |||||||||||||
| Cash flow from operations | 36,109,000 | 51,000 | 3,571,000 | 10,383,000 | 4,635,000 | 3,374,000 | 10,586,000 | 53,807,000 | 4,859,000 | 5,164,000 | 19,602,000 | -915,000 | 7,455,000 | 10,043,000 | -1,728,000 |
| Investing Activities | |||||||||||||||
| capital expenditure | |||||||||||||||
| Change in Investments | |||||||||||||||
| cash flow from investments | |||||||||||||||
| Financing Activities | |||||||||||||||
| Bank loans | |||||||||||||||
| Group/Directors Accounts | -277,000 | 2,913,000 | 628,000 | -2,784,000 | 1,963,000 | 925,000 | -736,000 | -2,773,000 | 14,000 | 1,894,000 | 1,090,000 | 1,339,000 | 111,000 | -336,000 | 951,000 |
| Other Short Term Loans | |||||||||||||||
| Long term loans | |||||||||||||||
| Hire Purchase and Lease Commitments | |||||||||||||||
| other long term liabilities | |||||||||||||||
| share issue | |||||||||||||||
| interest | -1,426,000 | 2,027,000 | -96,000 | -844,000 | -806,000 | 770,000 | -12,000 | 571,000 | 8,000 | 1,000 | 3,000 | 14,000 | 23,000 | 38,000 | |
| cash flow from financing | -1,657,000 | 4,960,000 | 456,000 | -3,647,000 | 1,171,000 | 1,708,000 | -735,000 | -2,971,000 | 97,000 | 1,845,000 | 1,090,000 | 1,342,000 | 1,158,000 | -313,000 | 51,091,000 |
| cash and cash equivalents | |||||||||||||||
| cash | -100,000 | 1,791,000 | -2,772,000 | 1,847,000 | -817,000 | 580,000 | 1,329,000 | -1,855,000 | -956,000 | -9,859,000 | 11,547,000 | -6,369,000 | -1,523,000 | 5,627,000 | 4,839,000 |
| overdraft | |||||||||||||||
| change in cash | -100,000 | 1,791,000 | -2,772,000 | 1,847,000 | -817,000 | 580,000 | 1,329,000 | -1,855,000 | -956,000 | -9,859,000 | 11,547,000 | -6,369,000 | -1,523,000 | 5,627,000 | 4,839,000 |
workstrings international limited Credit Report and Business Information
Workstrings International Limited Competitor Analysis
Perform a competitor analysis for workstrings international limited by selecting its closest rivals, whether from the MANUFACTURING sector, other large companies, companies in EC1A area or any other competitors across 12 key performance metrics.
workstrings international limited Ownership
WORKSTRINGS INTERNATIONAL LIMITED group structure
Workstrings International Limited has no subsidiary companies.
Ultimate parent company
SUPERIOR ENERGY SERVICES INC
#0044306
2 parents
WORKSTRINGS INTERNATIONAL LIMITED
01083092
workstrings international limited directors
Workstrings International Limited currently has 3 directors. The longest serving directors include Mr James Spexarth (May 2021) and Ms Joanna Clark (May 2021).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr James Spexarth | United States | 57 years | May 2021 | - | Director |
| Ms Joanna Clark | United Kingdom | 46 years | May 2021 | - | Director |
| Ms Carolina Ackerman | United States | 59 years | Dec 2024 | - | Director |
P&L
December 2023turnover
42.5m
+65%
operating profit
19.2m
+104%
gross margin
47%
+16.16%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
19.1m
-0.5%
total assets
25.7m
-0.44%
cash
3.3m
-0.03%
net assets
Total assets minus all liabilities
workstrings international limited company details
company number
01083092
Type
Private limited with Share Capital
industry
33110 - Repair of fabricated metal products
77390 - Renting and leasing of other machinery, equipment and tangible goods n.e.c.
incorporation date
November 1972
age
53
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
December 2023
previous names
premier oilfield rentals limited (February 2011)
premier oilfield services limited (January 2004)
See moreaccountant
-
auditor
ANDERSON ANDERSON & BROWN AUDIT LLP
address
c/o brodies llp, 90 bartholomew close, london, EC1A 7EB
Bank
BANK OF SCOTLAND
Legal Advisor
-
workstrings international 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 6 charges/mortgages relating to workstrings international limited. Currently there are 0 open charges and 6 have been satisfied in the past.
workstrings international limited Capital Raised & Share Issues BETA
When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.
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workstrings international limited Companies House Filings - See Documents
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