George Varney (bulk Services) Limited

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george varney (bulk services) limited Company Information

Live

MatureMidHigh

Company Number

01225679

Website

www.georgevarney.co.uk

Registered Address

47 ashby road central, shepshed, loughborough, leicestershire, LE12 9BS

Industry

Freight transport by road

Telephone

01327872288

Next Accounts Due

December 2024

Group Structure

View All

Directors

Justin Sherwood14 Years

Finisia Sherwood14 Years

View All

Shareholders

fred sherwood group ltd 100%

george varney (bulk services) limited Estimated Valuation

£5.6m

Pomanda estimates the enterprise value of GEORGE VARNEY (BULK SERVICES) LIMITED at £5.6m based on Net Assets of £2.2m and 2.55x industry multiple (adjusted for liquidity).

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George Varney (bulk Services) Limited is a live company located in loughborough, LE12 9BS with a Companies House number of 01225679. It operates in the freight transport by road sector, SIC Code 49410. Founded in September 1975, it's largest shareholder is fred sherwood group ltd with a 100% stake. George Varney (bulk Services) Limited is a mature, mid sized company, Pomanda has estimated its turnover at £11m with high growth in recent years.

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Pomanda's financial health check has awarded George Varney (Bulk Services) Limited a 3 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 Rating3out of 5

3 Strong

4 Regular

5 Weak

Size

annual sales of £11m, make it in line with the average company (£10.1m)

Growth

3 year (CAGR) sales growth of 22%, show it is growing at a faster rate (7.6%)

EXPORT

George Varney (Bulk Services) Limited's latest turnover from March 2023 is £11 million and the company has net assets of £2.2 million. According to their latest financial statements, George Varney (Bulk Services) Limited has 57 employees and maintains cash reserves of £300 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	10,966,205	10,050,441	7,017,823	6,011,886	4,218,029	5,059,254	6,376,040	5,472,058	5,384,110	8,123,904	5,794,014	5,669,853	5,909,048	7,961,447
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	10,003,298	8,942,190	5,608,068	4,821,916	3,402,153	4,043,380	5,048,176	4,371,291	4,351,975	6,604,785	4,720,493	4,595,759	4,718,685	6,290,494
Gross Profit	962,907	1,108,251	1,409,754	1,189,969	815,876	1,015,874	1,327,865	1,100,767	1,032,134	1,519,119	1,073,522	1,074,094	1,190,363	1,670,954
Admin Expenses	682,953	559,765	1,378,816	1,178,426	752,222	863,091	1,208,883	943,911	766,102	1,241,213	1,025,140	1,050,348	1,117,048	684,358
Operating Profit	279,954	548,486	30,938	11,543	63,654	152,783	118,982	156,856	266,032	277,906	48,382	23,746	73,315	986,596
Interest Payable	62,160	45,057	3,863	3,435	0	6,986	9,190	4,572	2,000	0	0	0	0	0
Interest Receivable	0	0	1	130	1,614	428	1	330	654	577	762	861	542	191
Pre-Tax Profit	217,794	503,429	27,075	8,238	65,268	146,226	109,793	152,614	264,687	278,483	49,143	24,607	73,857	986,788
Tax	-45,694	-122,208	-5,144	-1,565	-12,401	-27,783	-21,958	-30,523	-55,584	-64,051	-11,794	-6,398	-20,680	-276,300
Profit After Tax	172,100	381,221	21,931	6,673	52,867	118,443	87,834	122,091	209,103	214,432	37,349	18,209	53,177	710,487
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	172,100	381,221	21,931	6,673	52,867	118,443	87,834	122,091	209,103	214,432	37,349	18,209	53,177	710,487
Employee Costs	2,268,822	2,043,381	1,585,237	1,127,804	739,782	743,801	832,039	913,924	790,795	2,116,929	1,542,722	1,505,320	1,586,016	2,205,559
Number Of Employees	57	53	46	33	22	23	26	29	26	71	52	52	56	78
EBITDA*	1,241,148	1,325,364	596,182	398,271	298,000	382,736	407,957	384,819	537,376	471,995	183,259	113,555	127,977	1,031,494

* 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	4,809,180	3,530,772	2,558,178	2,653,685	1,251,927	1,025,089	1,042,865	1,113,760	1,110,882	1,243,685	714,023	639,153	318,891	194,286
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	2,067	8,622	19,328	20,666	375	46,578	25,528	11,806	22,653	8,363
Total Fixed Assets	4,809,180	3,530,772	2,558,178	2,653,685	1,253,994	1,033,711	1,062,193	1,134,426	1,111,257	1,290,263	739,551	650,959	341,544	202,649
Stock & work in progress	37,844	12,277	56,359	34,244	28,880	48,407	19,589	44,740	36,589	21,252	33,345	64,151	50,710	72,345
Trade Debtors	1,743,100	2,085,937	1,397,015	1,237,555	962,391	1,199,084	1,748,543	1,324,906	1,346,532	1,424,406	887,205	828,587	1,021,861	1,311,735
Group Debtors	730,479	64,810	282,553	22,991	24,099	11,688	9,850	0	0	0	0	0	0	0
Misc Debtors	287,185	248,442	255,919	312,686	145,246	99,057	118,893	65,015	0	0	0	0	0	0
Cash	300	300	300	956	259,420	170,952	300	300	131,564	130,192	100,557	204,084	140,238	76,450
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	2,798,908	2,411,766	1,992,146	1,608,432	1,420,036	1,529,188	1,897,175	1,434,961	1,514,685	1,575,850	1,021,107	1,096,822	1,212,809	1,460,530
total assets	7,608,088	5,942,538	4,550,324	4,262,117	2,674,030	2,562,899	2,959,368	2,569,387	2,625,942	2,866,113	1,760,658	1,747,781	1,554,353	1,663,179
Bank overdraft	288,142	121,079	5,502	69,976	0	0	205,550	41,589	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	566,367	642,343	601,766	579,929	379,118	381,426	502,853	386,944	470,574	1,149,802	845,035	819,680	776,709	945,092
Group/Directors Accounts	1,206,963	1,164,832	856,871	311,072	217,726	303,093	473,822	439,717	627,676	0	0	0	0	0
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	1,136,650	883,103	632,492	720,467	176,458	109,166	85,887	113,447	59,650	341,486	0	0	0	0
other current liabilities	182,470	270,615	196,182	51,905	56,647	92,068	120,885	114,357	99,807	0	0	0	0	0
total current liabilities	3,380,592	3,081,972	2,292,813	1,733,349	829,949	885,753	1,388,997	1,096,054	1,257,707	1,491,288	845,035	819,680	776,709	945,092
loans	22,500	45,990	8,531	42,656	0	0	9,389	37,556	61,523	0	0	0	0	0
hp & lease commitments	1,346,583	614,470	551,905	800,385	192,222	84,792	85,625	53,387	54,650	332,297	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	89,310	143,642	13,880	7,500
provisions	652,396	166,189	44,379	54,962	27,767	21,129	22,575	17,442	9,205	8,774	6,991	2,486	0	0
total long term liabilities	2,021,479	826,649	604,815	898,003	219,989	105,921	117,589	108,385	125,378	341,071	96,301	146,128	13,880	7,500
total liabilities	5,402,071	3,908,621	2,897,628	2,631,352	1,049,938	991,674	1,506,586	1,204,439	1,383,085	1,832,359	941,336	965,808	790,589	952,592
net assets	2,206,017	2,033,917	1,652,696	1,630,765	1,624,092	1,571,225	1,452,782	1,364,948	1,242,857	1,033,754	819,322	781,973	763,764	710,587
total shareholders funds	2,206,017	2,033,917	1,652,696	1,630,765	1,624,092	1,571,225	1,452,782	1,364,948	1,242,857	1,033,754	819,322	781,973	763,764	710,587

	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	279,954	548,486	30,938	11,543	63,654	152,783	118,982	156,856	266,032	277,906	48,382	23,746	73,315	986,596
Depreciation	961,194	776,878	565,244	386,728	234,346	229,953	288,975	227,963	271,344	194,089	134,877	89,809	54,662	44,898
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-45,694	-122,208	-5,144	-1,565	-12,401	-27,783	-21,958	-30,523	-55,584	-64,051	-11,794	-6,398	-20,680	-276,300
Stock	25,567	-44,082	22,115	5,364	-19,527	28,818	-25,151	8,151	15,337	-12,093	-30,806	13,441	-21,635	72,345
Debtors	361,575	463,702	362,255	439,429	-184,648	-578,163	486,027	63,680	-124,077	558,251	72,340	-204,121	-275,584	1,320,098
Creditors	-75,976	40,577	21,837	200,811	-2,308	-121,427	115,909	-83,630	-679,228	304,767	25,355	42,971	-168,383	945,092
Accruals and Deferred Income	-88,145	74,433	144,277	-4,742	-35,421	-28,817	6,528	14,550	99,807	0	0	0	0	0
Deferred Taxes & Provisions	486,207	121,810	-10,583	27,195	6,638	-1,446	5,133	8,237	431	1,783	4,505	2,486	0	0
Cash flow from operations	1,130,398	1,020,356	362,199	175,177	458,683	752,608	52,693	221,622	11,542	168,336	159,791	343,294	236,133	307,843
Investing Activities
capital expenditure	-2,239,602	-1,749,472	-469,737	-1,788,486	-461,184	-212,177	-218,080	-230,841	-138,541	-723,751	-209,747	-410,071	-179,267	-239,184
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-2,239,602	-1,749,472	-469,737	-1,788,486	-461,184	-212,177	-218,080	-230,841	-138,541	-723,751	-209,747	-410,071	-179,267	-239,184
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	42,131	307,961	545,799	93,346	-85,367	-170,729	34,105	-187,959	627,676	0	0	0	0	0
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	-23,490	37,459	-34,125	42,656	0	-9,389	-28,167	-23,967	61,523	0	0	0	0	0
Hire Purchase and Lease Commitments	985,660	313,176	-336,455	1,152,172	174,722	22,446	4,678	52,534	-559,483	673,783	0	0	0	0
other long term liabilities	0	0	0	0	0	0	0	0	0	-89,310	-54,332	129,762	6,380	7,500
share issue	0	0	0	0	0	0	0	0	0	0	0	0	0	100
interest	-62,160	-45,057	-3,862	-3,305	1,614	-6,558	-9,189	-4,242	-1,346	577	762	861	542	191
cash flow from financing	942,141	613,539	171,357	1,284,869	90,969	-164,230	1,427	-163,634	128,370	585,050	-53,570	130,623	6,922	7,791
cash and cash equivalents
cash	0	0	-656	-258,464	88,468	170,652	0	-131,264	1,372	29,635	-103,527	63,846	63,788	76,450
overdraft	167,063	115,577	-64,474	69,976	0	-205,550	163,961	41,589	0	0	0	0	0	0
change in cash	-167,063	-115,577	63,818	-328,440	88,468	376,202	-163,961	-172,853	1,372	29,635	-103,527	63,846	63,788	76,450

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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GEORGE VARNEY (BULK SERVICES) LIMITED group structure

George Varney (Bulk Services) Limited has no subsidiary companies.

Ultimate parent company

FRED SHERWOOD GROUP LIMITED

06417707

FRED SHERWOOD & SONS (TRANSPORT) LIMITED

01170850

2 parents

GEORGE VARNEY (BULK SERVICES) LIMITED

01225679

GEORGE VARNEY (BULK SERVICES) LIMITED Shareholders

fred sherwood group ltd

100%

George Varney (Bulk Services) Limited currently has 3 directors. The longest serving directors include Mr Justin Sherwood (Nov 2009) and Finisia Sherwood (Mar 2010).

officer	country	age	start	end	role
Mr Justin Sherwood	England	51 years	Nov 2009	-	Director
Finisia Sherwood		52 years	Mar 2010	-	Director
Mrs Belinda Sherwood-Ratcliffe		48 years	Oct 2020	-	Director

P&L

March 2023

turnover

11m

+9%

operating profit

280k

-49%

gross margin

8.8%

-20.37%

turnover

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

Balance Sheet

March 2023

net assets

2.2m

+0.08%

total assets

7.6m

+0.28%

cash

300

net assets

Total assets minus all liabilities

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company number

01225679

Type

Private limited with Share Capital

industry

49410 - Freight transport by road

incorporation date

September 1975

age

accounts

Full Accounts

ultimate parent company

FRED SHERWOOD GROUP LIMITED

previous names

david varney international limited (October 1982)

george varney international (shipping& forwarding) limited (December 1977)

incorporated

address

47 ashby road central, shepshed, loughborough, leicestershire, LE12 9BS

last accounts submitted

March 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 1 charges/mortgages relating to george varney (bulk services) limited. Currently there are 1 open charges and 0 have been satisfied in the past.

george varney (bulk services) limited Company Information

george varney (bulk services) limited Estimated Valuation

george varney (bulk services) limited Estimated Valuation

george varney (bulk services) limited Estimated Valuation

George Varney (bulk Services) Limited Overview

George Varney (bulk Services) Limited Health Check

GEORGE VARNEY (BULK SERVICES) LIMITED financials

george varney (bulk services) limited Credit Report and Business Information

George Varney (bulk Services) Limited Competitor Analysis

george varney (bulk services) limited Ownership

george varney (bulk services) limited directors

george varney (bulk services) limited company details

george varney (bulk services) limited Charges & Mortgages

george varney (bulk services) limited Companies House Filings - See Documents