braces bakery limited

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braces bakery limited Company Information

Share BRACES BAKERY LIMITED

Company Number

01223575

Shareholders

mr jonathan colin brace

mr norman mark brace

Group Structure

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Industry

Manufacture of bread; manufacture of fresh pastry goods and cakes

 

Registered Address

cambrian house, parkway, pen-y-fan industrial es, newport, gwent, NP11 3EF

braces bakery limited Estimated Valuation

£32.7m

Pomanda estimates the enterprise value of BRACES BAKERY LIMITED at £32.7m based on a Turnover of £37.1m and 0.88x industry multiple (adjusted for size and gross margin).

braces bakery limited Estimated Valuation

£14.8m

Pomanda estimates the enterprise value of BRACES BAKERY LIMITED at £14.8m based on an EBITDA of £2.3m and a 6.43x industry multiple (adjusted for size and gross margin).

braces bakery limited Estimated Valuation

£16.9m

Pomanda estimates the enterprise value of BRACES BAKERY LIMITED at £16.9m based on Net Assets of £8.2m and 2.08x industry multiple (adjusted for liquidity).

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Braces Bakery Limited Overview

Braces Bakery Limited is a live company located in newport, NP11 3EF with a Companies House number of 01223575. It operates in the manufacture of bread sector, SIC Code 10710. Founded in August 1975, it's largest shareholder is mr jonathan colin brace with a 50% stake. Braces Bakery Limited is a mature, large sized company, Pomanda has estimated its turnover at £37.1m with healthy growth in recent years.

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Braces Bakery Limited Health Check

Pomanda's financial health check has awarded Braces Bakery Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 1 areas for improvement. Company Health Check FAQs

Health Check Image
Health Rating5out of 5
positive_score

7 Strong

positive_score

4 Regular

positive_score

1 Weak

size

Size

annual sales of £37.1m, make it larger than the average company (£15.1m)

£37.1m - Braces Bakery Limited

£15.1m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of 11%, show it is growing at a faster rate (7.3%)

11% - Braces Bakery Limited

7.3% - Industry AVG

production

Production

with a gross margin of 22.9%, this company has a comparable cost of product (27.4%)

22.9% - Braces Bakery Limited

27.4% - Industry AVG

profitability

Profitability

an operating margin of 3.6% make it more profitable than the average company (2.9%)

3.6% - Braces Bakery Limited

2.9% - Industry AVG

employees

Employees

with 285 employees, this is above the industry average (175)

285 - Braces Bakery Limited

175 - Industry AVG

paystructure

Pay Structure

on an average salary of £33.2k, the company has an equivalent pay structure (£29.9k)

£33.2k - Braces Bakery Limited

£29.9k - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £130.2k, this is more efficient (£102.2k)

£130.2k - Braces Bakery Limited

£102.2k - Industry AVG

debtordays

Debtor Days

it gets paid by customers after 34 days, this is near the average (41 days)

34 days - Braces Bakery Limited

41 days - Industry AVG

creditordays

Creditor Days

its suppliers are paid after 51 days, this is slower than average (43 days)

51 days - Braces Bakery Limited

43 days - Industry AVG

stockdays

Stock Days

it holds stock equivalent to 8 days, this is less than average (25 days)

8 days - Braces Bakery Limited

25 days - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 3 weeks, this is less cash available to meet short term requirements (9 weeks)

3 weeks - Braces Bakery Limited

9 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 54.5%, this is a similar level of debt than the average (57.8%)

54.5% - Braces Bakery Limited

57.8% - Industry AVG

BRACES BAKERY LIMITED financials

EXPORTms excel logo

Braces Bakery Limited's latest turnover from September 2023 is £37.1 million and the company has net assets of £8.2 million. According to their latest financial statements, Braces Bakery Limited has 285 employees and maintains cash reserves of £389.3 thousand as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Sep 2023Oct 2022Oct 2021Sep 2020Sep 2019Sep 2018Sep 2017Sep 2016Sep 2015Sep 2014Sep 2013Sep 2012Sep 2011Sep 2010Sep 2009
Turnover37,109,40930,529,86626,961,30526,987,24224,991,91522,188,95227,407,29929,545,90632,833,00034,375,00035,930,00035,393,00031,969,00030,495,68132,954,364
Other Income Or Grants
Cost Of Sales28,599,07523,976,49620,518,59218,629,44416,548,11715,029,15919,115,22720,433,28223,875,00025,225,00025,911,00025,504,00023,044,00017,570,72218,955,847
Gross Profit8,510,3346,553,3706,442,7138,357,7988,443,7987,159,7938,292,0729,112,6248,958,0009,150,00010,019,0009,889,0008,925,00012,924,95913,998,517
Admin Expenses7,178,4706,446,5865,872,1906,406,5437,384,0407,326,5928,502,7319,845,18810,952,0008,023,0008,636,0008,758,00011,082,00012,131,50812,944,623
Operating Profit1,331,864106,784570,5231,951,2551,059,758-166,799-210,659-732,564-1,994,0001,127,0001,383,0001,131,000-2,157,000793,4511,053,894
Interest Payable222,404108,98143,37150,79779,71082,817105,810119,088125,000130,000176,000196,000159,00085,120149,829
Interest Receivable427492,4632,4341392,0005,0007,0004,00016,00012,97516,425
Pre-Tax Profit1,109,887-2,197527,2011,900,458982,511-247,182243,134-531,227-2,117,0001,002,0001,214,000939,000-2,300,000721,306920,490
Tax-290,319133,008-13,974-359,866-179,09928,329-38,698287,649526,000-209,000-336,000149,000-196,000-340,831-410,595
Profit After Tax819,568130,811513,2271,540,592803,412-218,853204,436-243,578-1,591,000793,000878,0001,088,000-2,496,000380,475509,895
Dividends Paid844,920660,001360,000660,000186,00927,00036,00036,00036,00018,00027,000
Retained Profit-25,352-529,190153,227880,592617,403-218,853204,436-243,578-1,618,000757,000842,0001,088,000-2,532,000362,475482,895
Employee Costs9,460,9148,714,4397,948,1987,550,7857,721,9297,489,8038,347,6618,993,4939,626,0009,068,0009,679,00010,016,00010,621,00011,500,35512,581,631
Number Of Employees285283265239257274275285319294305337355330334
EBITDA*2,299,245919,1701,002,7932,290,5721,545,745629,3951,314,538996,209-157,0001,477,0003,162,0002,941,000135,0003,054,5743,104,681

* Earnings Before Interest, Tax, Depreciation and Amortisation

Sep 2023Oct 2022Oct 2021Sep 2020Sep 2019Sep 2018Sep 2017Sep 2016Sep 2015Sep 2014Sep 2013Sep 2012Sep 2011Sep 2010Sep 2009
Tangible Assets12,616,71512,381,55410,928,4086,831,8915,694,4785,977,5236,288,1268,288,2859,356,00010,969,00011,434,00010,985,00012,253,0009,471,92910,383,969
Intangible Assets
Investments & Other200,000200,750200,750125,7501,100,750186,295220,05071,000
Debtors (Due After 1 year)
Total Fixed Assets12,816,71512,582,30411,129,1586,957,6416,795,2285,977,5236,474,4218,508,3359,427,00010,969,00011,434,00010,985,00012,253,0009,471,92910,383,969
Stock & work in progress666,146586,664671,880494,790499,200420,606315,633278,245382,000395,000403,000371,000417,000369,695301,377
Trade Debtors3,496,6783,250,9283,043,0473,176,0413,186,2673,242,1743,548,0393,491,7524,049,0004,639,0004,087,0004,029,0003,751,0003,481,4973,582,459
Group Debtors
Misc Debtors539,511758,108817,101322,310360,671480,07499,954501,906425,000372,000357,000325,000708,000676,962245,045
Cash389,2851,063251,9041,016,759489,044793,7221,984,008511,6581,402,0001,944,0002,029,000978,0001,153,0002,922,8403,165,597
misc current assets
total current assets5,091,6204,596,7634,783,9325,009,9004,535,1824,936,5765,947,6344,783,5616,258,0007,350,0006,876,0005,703,0006,029,0007,450,9947,294,478
total assets17,908,33517,179,06715,913,09011,967,54111,330,41010,914,09912,422,05513,291,89615,685,00018,319,00018,310,00016,688,00018,282,00016,922,92317,678,447
Bank overdraft491,563835,6821,160,711223,1731,223,122223,122223,169235,613223,000799,000430,16632,138
Bank loan510,000511,000425,000277,975
Trade Creditors 4,025,6043,208,3112,715,4492,625,8362,442,3292,018,6162,592,1572,343,9073,125,0003,121,0003,211,0002,321,0003,279,0002,290,0742,348,218
Group/Directors Accounts750750750750262,865258,318303,83625,000
other short term finances108,000102,000187,000434,000
hp & lease commitments438,033372,193308,364161,009142,962284,491420,100543,322430,000256,000198,000393,000531,000512,576573,571
other current liabilities1,300,1981,270,4151,188,3021,335,7351,059,045981,3261,173,9151,637,8262,561,0002,932,0003,188,0002,552,0003,639,0004,540,9514,812,208
total current liabilities6,255,3985,687,3515,373,5764,346,5034,868,2083,770,4204,667,6595,064,5046,472,0007,210,0007,294,0006,211,0007,874,0007,773,7678,044,110
loans2,313,3662,532,740989,791866,5951,091,0701,314,2431,558,5591,860,5542,409,0002,765,0003,639,0003,712,0004,259,000785,850961,631
hp & lease commitments665,976832,603892,637314,60786,180149,405296,953672,390820,000492,000222,000405,000561,000543,9221,068,422
Accruals and Deferred Income50,00063,00050,000
other liabilities
provisions523,272232,953338,315274,29246,000330,000377,000437,000690,000485,373632,748
total long term liabilities3,502,6143,598,2962,220,7431,455,4941,177,2501,463,6481,855,5122,532,9443,275,0003,637,0004,301,0004,604,0005,510,0001,815,1452,662,801
total liabilities9,758,0129,285,6477,594,3195,801,9976,045,4585,234,0686,523,1717,597,4489,747,00010,847,00011,595,00010,815,00013,384,0009,588,91210,706,911
net assets8,150,3237,893,4208,318,7716,165,5445,284,9525,680,0315,898,8845,694,4485,938,0007,472,0006,715,0005,873,0004,898,0007,334,0116,971,536
total shareholders funds8,150,3237,893,4208,318,7716,165,5445,284,9525,680,0315,898,8845,694,4485,938,0007,472,0006,715,0005,873,0004,898,0007,334,0116,971,536
Sep 2023Oct 2022Oct 2021Sep 2020Sep 2019Sep 2018Sep 2017Sep 2016Sep 2015Sep 2014Sep 2013Sep 2012Sep 2011Sep 2010Sep 2009
Operating Activities
Operating Profit1,331,864106,784570,5231,951,2551,059,758-166,799-210,659-732,564-1,994,0001,127,0001,383,0001,131,000-2,157,000793,4511,053,894
Depreciation967,381812,386432,270339,317485,987796,1941,525,1971,728,7731,837,000350,0001,779,0001,810,0002,292,0002,261,1232,050,787
Amortisation
Tax-290,319133,008-13,974-359,866-179,09928,329-38,698287,649526,000-209,000-336,000149,000-196,000-340,831-410,595
Stock79,482-85,216177,090-4,41078,594104,97337,388-103,755-13,000-8,00032,000-46,00047,30568,318301,377
Debtors27,153148,888361,797-48,587-175,31074,255-345,665-480,342-537,000567,00090,000-105,000300,541330,9553,827,504
Creditors817,293492,86289,613183,507423,713-573,541248,250-781,0934,000-90,000890,000-958,000988,926-58,1442,348,218
Accruals and Deferred Income29,78382,113-147,433276,69077,719-192,589-463,911-923,174-421,000-269,000649,000-1,037,000-901,951-271,2574,812,208
Deferred Taxes & Provisions290,319-105,36264,023274,292-46,000-284,000-47,000-60,000-253,000204,627-147,375632,748
Cash flow from operations3,039,6861,458,119456,1352,718,1921,964,794-287,6341,368,456117,688218,000303,0004,183,000993,000-117,2441,837,6946,358,379
Investing Activities
capital expenditure-315,0501,034,427-340,165-1,571,000-1,230,000-2,114,000-506,000-4,276,000-1,348,622-1,496,501
Change in Investments-75075,000-975,0001,100,750-186,295-33,755149,05071,000
cash flow from investments750-75,000975,000-1,100,750-128,7551,068,182-489,215-1,642,000-1,230,000-2,114,000-506,000-4,276,000-1,348,622-1,496,501
Financing Activities
Bank loans-510,000-1,00086,000425,000-277,975277,975
Group/Directors Accounts-750-262,1154,547-45,518278,83625,000
Other Short Term Loans -108,0006,000-85,000-247,000434,000
Long term loans-219,3741,542,949123,196-224,475-223,173-244,316-301,995-548,446-356,000-874,000-73,000-547,0003,473,150-175,781961,631
Hire Purchase and Lease Commitments-100,7873,795725,385246,474-204,754-283,157-498,659-34,288502,000328,000-378,000-294,00035,502-585,4951,641,993
other long term liabilities
share issue282,255103,8392,000,000-1,012,4822684,000-113,00095,9896,488,641
interest-221,977-108,981-43,322-50,797-77,247-80,383-105,671-119,088-123,000-125,000-169,000-192,000-143,000-72,145-133,404
cash flow from financing-260,6331,541,6022,805,259-28,798-1,779,771-603,309-951,843-530,960138,000-1,266,000-868,000-626,0003,886,641-1,111,3969,236,836
cash and cash equivalents
cash388,222-250,841-764,855527,715-304,678-1,190,2861,472,350-890,342-542,000-85,0001,051,000-175,000-1,769,840-242,7573,165,597
overdraft-344,119-325,029937,538-999,9491,000,000-47-12,44412,613-576,000799,000-430,166398,02832,138
change in cash732,34174,188-1,702,3931,527,664-1,304,678-1,190,2391,484,794-902,95534,000-884,0001,051,000-175,000-1,339,674-640,7853,133,459

braces bakery limited Credit Report and Business Information

Very Low Risk70 - 100
Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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Braces Bakery Limited Competitor Analysis

competitor_analysis_table_img

Perform a competitor analysis for braces bakery limited by selecting its closest rivals, whether from the MANUFACTURING sector, other large companies, companies in NP11 area or any other competitors across 12 key performance metrics.

braces bakery limited Ownership

BRACES BAKERY LIMITED group structure

Braces Bakery Limited has no subsidiary companies.

Ultimate parent company

BRACES BAKERY LIMITED

01223575

BRACES BAKERY LIMITED Shareholders

mr jonathan colin brace 50%
mr norman mark brace 50%

braces bakery limited directors

Braces Bakery Limited currently has 3 directors. The longest serving directors include Mr Jonathan Brace (Jul 1986) and Mr Norman Brace (Apr 1992).

officercountryagestartendrole
Mr Jonathan BraceWales62 years Jul 1986- Director
Mr Norman BraceWales67 years Apr 1992- Director
Mr Jonathan Brace61 years Apr 1992- Director

P&L

September 2023

turnover

37.1m

+22%

operating profit

1.3m

+1147%

gross margin

23%

+6.84%

turnover

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

Balance Sheet

September 2023

net assets

8.2m

+0.03%

total assets

17.9m

+0.04%

cash

389.3k

+365.21%

net assets

Total assets minus all liabilities

braces bakery limited company details

company number

01223575

Type

Private limited with Share Capital

industry

10710 - Manufacture of bread; manufacture of fresh pastry goods and cakes

incorporation date

August 1975

age

50

incorporated

UK

ultimate parent company

None

accounts

Full Accounts

last accounts submitted

September 2023

previous names

e. brace and partners limited (March 2004)

accountant

-

auditor

KILSBY WILLIAMS LLP

address

cambrian house, parkway, pen-y-fan industrial es, newport, gwent, NP11 3EF

Bank

HSBC BANK PLC

Legal Advisor

-

braces bakery 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 18 charges/mortgages relating to braces bakery limited. Currently there are 11 open charges and 7 have been satisfied in the past.

braces bakery 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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braces bakery limited Companies House Filings - See Documents

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