New City Heating Company Limited

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new city heating company limited Company Information

Company Number

01163410

Next Accounts

Jul 2025

Directors

Adrian Worman

Shareholders

adrian worman

ian worman

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Group Structure

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Industry

Wholesale of hardware, plumbing and heating equipment and supplies

Registered Address

14 simpson road, bletchley, milton keynes, MK2 2DD

Website

www.newcityheating.co.uk

new city heating company limited Estimated Valuation

£1.5m

Pomanda estimates the enterprise value of NEW CITY HEATING COMPANY LIMITED at £1.5m based on Net Assets of £603.8k and 2.49x industry multiple (adjusted for liquidity).

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New City Heating Company Limited is a live company located in milton keynes, MK2 2DD with a Companies House number of 01163410. It operates in the wholesale of hardware, plumbing and heating equipment and supplies sector, SIC Code 46740. Founded in March 1974, it's largest shareholder is adrian worman with a 74.8% stake. New City Heating Company Limited is a mature, small sized company, Pomanda has estimated its turnover at £971.8k with declining growth in recent years.

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Pomanda's financial health check has awarded New City Heating Company Limited a 3.5 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 5 areas for improvement. Company Health Check FAQs

Health Rating3.5out of 5

3 Strong

4 Regular

5 Weak

Size

annual sales of £971.8k, make it smaller than the average company (£9.7m)

Growth

3 year (CAGR) sales growth of -30%, show it is growing at a slower rate (7.2%)

EXPORT

New City Heating Company Limited's latest turnover from October 2023 is estimated at £971.8 thousand and the company has net assets of £603.8 thousand. According to their latest financial statements, we estimate that New City Heating Company Limited has 4 employees and maintains cash reserves of £10.3 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Oct 2023	Oct 2022	Oct 2021	Oct 2020	Apr 2019	Apr 2018	Apr 2017	Apr 2016	Apr 2015	Apr 2014	Apr 2013	Apr 2012	Apr 2011	Apr 2010
Turnover	971,792	2,239,976	2,946,444	2,866,114	3,150,238	2,940,643	2,925,482	3,187,524	3,076,811	3,309,979	3,205,123	3,674,356	3,818,165	4,964,320
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	683,760	1,581,808	2,128,568	2,032,904	2,193,070	2,055,726	2,014,023	2,183,035	2,130,985	2,288,519	2,213,506	2,504,443	2,635,385	3,399,111
Gross Profit	288,032	658,168	817,877	833,211	957,168	884,917	911,459	1,004,488	945,827	1,021,460	991,617	1,169,913	1,182,781	1,565,209
Admin Expenses	315,052	1,022,642	1,386,346	1,215,463	1,434,466	991,079	926,081	1,332,426	1,370,515	1,144,782	1,168,202	1,243,232	1,326,115	-2,910,805
Operating Profit	-27,020	-364,474	-568,469	-382,252	-477,298	-106,162	-14,622	-327,938	-424,688	-123,322	-176,585	-73,319	-143,334	4,476,014
Interest Payable	9,246	25,996	26,772	14,349	3,276	419	403	0	0	0	0	0	0	0
Interest Receivable	1,077	426	7	9	596	1,037	789	2,357	3,366	3,909	4,314	5,080	6,011	3,254
Pre-Tax Profit	-35,189	-390,045	-595,234	-396,592	-479,977	-105,544	-14,236	-325,581	-421,322	-119,413	-172,271	-68,239	-137,323	4,479,268
Tax	0	0	0	0	0	0	0	0	0	0	0	0	0	-1,254,195
Profit After Tax	-35,189	-390,045	-595,234	-396,592	-479,977	-105,544	-14,236	-325,581	-421,322	-119,413	-172,271	-68,239	-137,323	3,225,073
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-35,189	-390,045	-595,234	-396,592	-479,977	-105,544	-14,236	-325,581	-421,322	-119,413	-172,271	-68,239	-137,323	3,225,073
Employee Costs	156,577	405,566	646,156	809,283	892,125	777,521	784,148	825,457	417,119	452,569	466,178	494,891	535,091	762,285
Number Of Employees	4	11	19	25	26	23	24	26	13	15	15	17	18	26
EBITDA*	-17,205	-346,837	-544,635	-349,038	-476,896	-78,020	13,872	-300,062	-378,294	-76,597	-123,935	-32,563	-105,581	4,513,671

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Oct 2023	Oct 2022	Oct 2021	Oct 2020	Apr 2019	Apr 2018	Apr 2017	Apr 2016	Apr 2015	Apr 2014	Apr 2013	Apr 2012	Apr 2011	Apr 2010
Tangible Assets	126,476	533,936	550,910	574,744	827,001	837,327	862,386	890,880	1,255,856	1,302,250	1,326,020	1,378,670	1,371,134	1,408,887
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	425,900	425,900	675,900	675,900	570,900	810,900	810,900	810,900	176,650	176,650	176,650	176,650	126,885	126,885
Debtors (Due After 1 year)	656	567	377	95,000	95,000	38,985	38,000	0	0	0	0	0	0	0
Total Fixed Assets	553,032	960,403	1,227,187	1,345,644	1,492,901	1,687,212	1,711,286	1,701,780	1,432,506	1,478,900	1,502,670	1,555,320	1,498,019	1,535,772
Stock & work in progress	45,000	989,086	1,069,162	964,914	980,000	980,000	942,757	776,518	914,916	1,079,351	1,122,571	1,234,130	1,143,419	1,159,873
Trade Debtors	19,052	62,533	187,354	155,264	182,982	250,116	218,361	269,049	441,197	474,693	447,339	469,231	505,942	648,387
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	909,755	218,615	535,290	545,775	90,416	93,876	97,140	223,141	0	0	0	46,711	0	11,402
Cash	10,298	30,730	7,097	6,655	11,320	147,742	266,903	363,974	578,648	767,580	795,868	929,546	1,102,603	1,301,691
misc current assets	0	0	0	0	84,601	95,093	93,964	0	0	0	0	0	0	0
total current assets	984,105	1,300,964	1,798,903	1,672,608	1,349,319	1,566,827	1,619,125	1,632,682	1,934,761	2,321,624	2,365,778	2,679,618	2,751,964	3,121,353
total assets	1,537,137	2,261,367	3,026,090	3,018,252	2,842,220	3,254,039	3,330,411	3,334,462	3,367,267	3,800,524	3,868,448	4,234,938	4,249,983	4,657,125
Bank overdraft	10,000	10,000	145,285	90,508	97,058	0	12,885	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	486,812	570,348	478,839	286,807	440,160	339,582	282,108	306,590	412,204	414,928	354,228	539,236	526,596	787,204
Group/Directors Accounts	134,157	26,282	0	0	10,022	6,541	50,165	39,935	0	0	0	0	0	0
other short term finances	0	87,334	323,138	207,424	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	17,009	15,786	0	0	0	0	0	0	0	0	0	0
other current liabilities	61,465	161,804	205,725	103,074	48,332	77,379	69,023	72,528	0	0	0	0	0	0
total current liabilities	692,434	855,768	1,169,996	703,599	595,572	423,502	414,181	419,053	412,204	414,928	354,228	539,236	526,596	787,204
loans	28,518	28,518	35,935	75,466	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	169,759	448,808	277,658	129,557	44,379	34,908	14,360	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
provisions	42,616	42,616	67,684	68,761	44,448	56,014	58,868	64,951	0	0	0	0	0	0
total long term liabilities	240,893	519,942	381,277	273,784	88,827	90,922	73,228	64,951	0	0	0	0	0	0
total liabilities	933,327	1,375,710	1,551,273	977,383	684,399	514,424	487,409	484,004	412,204	414,928	354,228	539,236	526,596	787,204
net assets	603,810	885,657	1,474,817	2,040,869	2,157,821	2,739,615	2,843,002	2,850,458	2,955,063	3,385,596	3,514,220	3,695,702	3,723,387	3,869,921
total shareholders funds	603,810	885,657	1,474,817	2,040,869	2,157,821	2,739,615	2,843,002	2,850,458	2,955,063	3,385,596	3,514,220	3,695,702	3,723,387	3,869,921

	Oct 2023	Oct 2022	Oct 2021	Oct 2020	Apr 2019	Apr 2018	Apr 2017	Apr 2016	Apr 2015	Apr 2014	Apr 2013	Apr 2012	Apr 2011	Apr 2010
Operating Activities
Operating Profit	-27,020	-364,474	-568,469	-382,252	-477,298	-106,162	-14,622	-327,938	-424,688	-123,322	-176,585	-73,319	-143,334	4,476,014
Depreciation	9,815	17,637	23,834	33,214	402	28,142	28,494	27,876	46,394	46,725	52,650	40,756	37,753	37,657
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	0	0	0	0	0	0	0	0	0	0	0	0	0	-1,254,195
Stock	-944,086	-80,076	104,248	-15,086	0	37,243	166,239	-138,398	-164,435	-43,220	-111,559	90,711	-16,454	1,159,873
Debtors	647,748	-441,306	-73,018	427,641	-14,579	29,476	-138,689	50,993	-33,496	27,354	-68,603	10,000	-153,847	659,789
Creditors	-83,536	91,509	192,032	-153,353	100,578	57,474	-24,482	-105,614	-2,724	60,700	-185,008	12,640	-260,608	787,204
Accruals and Deferred Income	-379,388	127,229	250,752	139,920	-19,576	28,904	10,855	72,528	0	0	0	0	0	0
Deferred Taxes & Provisions	0	-25,068	-1,077	24,313	-11,566	-2,854	-6,083	64,951	0	0	0	0	0	0
Cash flow from operations	-183,791	368,215	-134,158	-750,713	-392,881	-61,215	-33,388	-180,792	-183,087	-31	-128,781	-120,634	-195,888	2,227,018
Investing Activities
capital expenditure	397,645	-663	0	219,043	9,924	-3,083	0	337,100	0	-22,955	0	-48,292	0	-1,446,544
Change in Investments	0	-250,000	0	105,000	-240,000	0	0	634,250	0	0	0	49,765	0	126,885
cash flow from investments	397,645	249,337	0	114,043	249,924	-3,083	0	-297,150	0	-22,955	0	-98,057	0	-1,573,429
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	107,875	26,282	0	-10,022	3,481	-43,624	10,230	39,935	0	0	0	0	0	0
Other Short Term Loans	-87,334	-235,804	115,714	207,424	0	0	0	0	0	0	0	0	0	0
Long term loans	0	-7,417	-39,531	75,466	0	0	0	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	0	-17,009	1,223	15,786	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	-246,658	-199,115	29,182	279,640	-101,817	2,157	6,780	220,976	-9,211	-9,211	-9,211	40,554	-9,211	644,848
interest	-8,169	-25,570	-26,765	-14,340	-2,680	618	386	2,357	3,366	3,909	4,314	5,080	6,011	3,254
cash flow from financing	-234,286	-458,633	79,823	553,954	-101,016	-40,849	17,396	263,268	-5,845	-5,302	-4,897	45,634	-3,200	648,102
cash and cash equivalents
cash	-20,432	23,633	442	-4,665	-136,422	-119,161	-97,071	-214,674	-188,932	-28,288	-133,678	-173,057	-199,088	1,301,691
overdraft	0	-135,285	54,777	-6,550	97,058	-12,885	12,885	0	0	0	0	0	0	0
change in cash	-20,432	158,918	-54,335	1,885	-233,480	-106,276	-109,956	-214,674	-188,932	-28,288	-133,678	-173,057	-199,088	1,301,691

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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NEW CITY HEATING COMPANY LIMITED group structure

New City Heating Company Limited has no subsidiary companies.

Ultimate parent company

NEW CITY HEATING COMPANY LIMITED

01163410

NEW CITY HEATING COMPANY LIMITED Shareholders

adrian worman	74.76%
ian worman	24.76%
executors of cynthia june fortescue	0.48%

New City Heating Company Limited currently has 1 director, Mr Adrian Worman serving since Jun 2008.

officer	country	age	start	end	role
Mr Adrian Worman		59 years	Jun 2008	-	Director

P&L

October 2023

turnover

971.8k

-57%

operating profit

-27k

gross margin

29.7%

+0.87%

turnover

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

Balance Sheet

October 2023

net assets

603.8k

-0.32%

total assets

1.5m

-0.32%

cash

10.3k

-0.66%

net assets

Total assets minus all liabilities

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company number

01163410

Type

Private limited with Share Capital

industry

46740 - Wholesale of hardware, plumbing and heating equipment and supplies

47990 - Other retail sale not in stores, stalls or markets

incorporation date

March 1974

ultimate parent company

None

previous names

N/A

address

14 simpson road, bletchley, milton keynes, MK2 2DD

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 8 charges/mortgages relating to new city heating company limited. Currently there are 1 open charges and 7 have been satisfied in the past.

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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new city heating company limited Company Information

new city heating company limited Estimated Valuation

new city heating company limited Estimated Valuation

new city heating company limited Estimated Valuation

New City Heating Company Limited Overview

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NEW CITY HEATING COMPANY LIMITED financials

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