Rio Stainless Engineering Limited

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rio stainless engineering limited Company Information

Live

MatureSmallLow

Company Number

01884390

Website

www.riostainless.co.uk

Registered Address

unit 1, neptune industrial, estate, owen road, willenhall, west midlands, WV13 2PZ

Industry

Manufacture of tubes, pipes, hollow profiles and related fittings, of steel

Telephone

01902637755

Next Accounts Due

December 2024

Group Structure

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Directors

Peter Hamlett32 Years

Lee Foster19 Years

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Shareholders

trustees of hamlett family settlement 1998 35%

trustees of hamlett childrens settlement 1998 20%

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rio stainless engineering limited Estimated Valuation

£4m

Pomanda estimates the enterprise value of RIO STAINLESS ENGINEERING LIMITED at £4m based on Net Assets of £2.5m and 1.61x industry multiple (adjusted for liquidity).

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Rio Stainless Engineering Limited is a live company located in willenhall, WV13 2PZ with a Companies House number of 01884390. It operates in the manufacture of tubes, pipes, hollow profiles and related fittings, of steel sector, SIC Code 24200. Founded in February 1985, it's largest shareholder is trustees of hamlett family settlement 1998 with a 35% stake. Rio Stainless Engineering Limited is a mature, small sized company, Pomanda has estimated its turnover at £1.1m with low growth in recent years.

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Pomanda's financial health check has awarded Rio Stainless Engineering Limited a 3.5 rating. We use a traffic light system to show it exceeds the industry average on 2 measures and has 7 areas for improvement. Company Health Check FAQs

Health Rating3.5out of 5

2 Strong

3 Regular

7 Weak

Size

annual sales of £1.1m, make it smaller than the average company (£16.4m)

Growth

3 year (CAGR) sales growth of 1%, show it is growing at a slower rate (5.3%)

EXPORT

Rio Stainless Engineering Limited's latest turnover from March 2023 is estimated at £1.1 million and the company has net assets of £2.5 million. According to their latest financial statements, Rio Stainless Engineering Limited has 19 employees and maintains cash reserves of £2 million 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	1,130,432	1,048,865	818,790	1,102,648	1,172,604	1,017,343	1,303,988	1,865,921	2,222,737	2,550,550	2,813,556	3,302,488	1,921,114	1,909,920
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	960,231	899,476	709,653	967,344	1,045,188	884,788	1,113,548	1,542,311	1,826,433	2,091,280	2,338,287	2,728,270	1,589,003	1,563,972
Gross Profit	170,201	149,389	109,137	135,305	127,416	132,555	190,440	323,610	396,304	459,271	475,269	574,218	332,111	345,948
Admin Expenses	98,284	39,538	101,674	39,944	4,037	324,405	137,028	311,060	-38,328	177,092	-179,035	258,549	99,898	-610,772
Operating Profit	71,917	109,851	7,463	95,361	123,379	-191,850	53,412	12,550	434,632	282,179	654,304	315,669	232,213	956,720
Interest Payable	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	83,491	15,352	2,030	1,765	11,869	8,782	5,070	10,613	9,638	7,467	5,056	3,101	2,479	1,182
Pre-Tax Profit	155,407	125,202	9,493	97,126	135,248	-183,068	58,481	23,164	444,270	289,645	659,361	318,770	234,692	957,901
Tax	-29,527	-23,788	-1,804	-18,454	-25,697	0	-11,696	-4,633	-93,297	-66,618	-158,247	-82,880	-65,714	-268,212
Profit After Tax	125,880	101,414	7,689	78,672	109,551	-183,068	46,785	18,531	350,973	223,027	501,114	235,890	168,978	689,689
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	125,880	101,414	7,689	78,672	109,551	-183,068	46,785	18,531	350,973	223,027	501,114	235,890	168,978	689,689
Employee Costs	790,932	676,172	617,312	656,491	607,654	600,948	585,571	608,570	294,642	295,047	322,175	414,677	298,075	203,263
Number Of Employees	19	18	17	19	19	19	19	19	9	10	11	14	10	7
EBITDA*	126,528	131,633	19,948	125,481	157,160	-161,199	132,151	100,294	518,840	368,445	728,492	391,325	298,765	1,013,798

* 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	471,724	501,320	315,166	338,823	348,819	364,256	388,824	410,324	450,422	474,039	558,410	512,199	456,301	426,634
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	8,549	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	471,724	501,320	315,166	338,823	348,819	364,256	388,824	418,873	450,422	474,039	558,410	512,199	456,301	426,634
Stock & work in progress	177,694	133,589	127,167	159,850	155,833	151,451	165,237	174,570	188,001	211,273	208,406	179,112	190,449	185,766
Trade Debtors	385,755	417,372	276,201	370,957	468,290	358,053	277,631	384,699	476,718	684,349	782,940	1,034,109	493,985	460,667
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	52,717	66,406	59,746	66,247	69,503	91,164	0	0	0	0	0	0	0	0
Cash	1,997,554	1,931,420	2,162,413	1,897,506	1,632,175	1,532,973	1,979,744	2,075,957	2,169,407	1,685,831	1,300,851	721,646	518,897	472,617
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	2,613,720	2,548,787	2,625,527	2,494,560	2,325,801	2,133,641	2,422,612	2,635,226	2,834,126	2,581,453	2,292,197	1,934,867	1,203,331	1,119,050
total assets	3,085,444	3,050,107	2,940,693	2,833,383	2,674,620	2,497,897	2,811,436	3,054,099	3,284,548	3,055,492	2,850,607	2,447,066	1,659,632	1,545,684
Bank overdraft	0	0	0	0	0	0	0	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	64,442	55,672	19,665	36,762	71,716	49,870	576,349	865,797	1,112,384	1,203,216	1,214,465	1,312,038	771,741	836,757
Group/Directors Accounts	63,562	154,495	91,742	64,514	4,497	13,032	0	0	0	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	0	0	20,000	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	453,551	464,340	561,355	491,865	436,837	382,976	0	0	0	0	0	0	0	0
total current liabilities	581,555	674,507	692,762	593,141	513,050	445,878	576,349	865,797	1,112,384	1,203,216	1,214,465	1,312,038	771,741	836,757
loans	0	0	0	0	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	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	28,664	26,255	0	0	0	0	0	0	2,393	33,478	40,371	40,371	29,124	19,138
total long term liabilities	28,664	26,255	0	0	0	0	0	0	2,393	33,478	40,371	40,371	29,124	19,138
total liabilities	610,219	700,762	692,762	593,141	513,050	445,878	576,349	865,797	1,114,777	1,236,694	1,254,836	1,352,409	800,865	855,895
net assets	2,475,225	2,349,345	2,247,931	2,240,242	2,161,570	2,052,019	2,235,087	2,188,302	2,169,771	1,818,798	1,595,771	1,094,657	858,767	689,789
total shareholders funds	2,475,225	2,349,345	2,247,931	2,240,242	2,161,570	2,052,019	2,235,087	2,188,302	2,169,771	1,818,798	1,595,771	1,094,657	858,767	689,789

	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	71,917	109,851	7,463	95,361	123,379	-191,850	53,412	12,550	434,632	282,179	654,304	315,669	232,213	956,720
Depreciation	54,611	21,782	12,485	30,120	33,781	30,651	78,739	87,744	84,208	86,266	74,188	75,656	66,552	57,078
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-29,527	-23,788	-1,804	-18,454	-25,697	0	-11,696	-4,633	-93,297	-66,618	-158,247	-82,880	-65,714	-268,212
Stock	44,105	6,422	-32,683	4,017	4,382	-13,786	-9,333	-13,431	-23,272	2,867	29,294	-11,337	4,683	185,766
Debtors	-45,306	147,831	-101,257	-100,589	88,576	171,586	-107,068	-92,019	-207,631	-98,591	-251,169	540,124	33,318	460,667
Creditors	8,770	36,007	-17,097	-34,954	21,846	-526,479	-289,448	-246,587	-90,832	-11,249	-97,573	540,297	-65,016	836,757
Accruals and Deferred Income	-10,789	-97,015	69,490	55,028	53,861	382,976	0	0	0	0	0	0	0	0
Deferred Taxes & Provisions	2,409	26,255	0	0	0	0	0	-2,393	-31,085	-6,893	0	11,247	9,986	19,138
Cash flow from operations	98,592	-81,161	204,477	223,673	114,212	-462,502	-52,592	-47,869	534,529	379,409	694,547	331,202	140,020	955,048
Investing Activities
capital expenditure	-25,015	-207,936	11,172	-20,124	-18,344	-6,083	-57,239	-47,646	-60,591	-1,895	-120,399	-131,554	-96,219	-483,712
Change in Investments	0	0	0	0	0	0	-8,549	8,549	0	0	0	0	0	0
cash flow from investments	-25,015	-207,936	11,172	-20,124	-18,344	-6,083	-48,690	-56,195	-60,591	-1,895	-120,399	-131,554	-96,219	-483,712
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	-90,933	62,753	27,228	60,017	-8,535	13,032	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	0	-20,000	20,000	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	100
interest	83,491	15,352	2,030	1,765	11,869	8,782	5,070	10,613	9,638	7,467	5,056	3,101	2,479	1,182
cash flow from financing	-7,442	58,105	49,258	61,782	3,334	21,814	5,070	10,613	9,638	7,467	5,056	3,101	2,479	1,282
cash and cash equivalents
cash	66,134	-230,993	264,907	265,331	99,202	-446,771	-96,213	-93,450	483,576	384,980	579,205	202,749	46,280	472,617
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	66,134	-230,993	264,907	265,331	99,202	-446,771	-96,213	-93,450	483,576	384,980	579,205	202,749	46,280	472,617

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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RIO STAINLESS ENGINEERING LIMITED group structure

Rio Stainless Engineering Limited has no subsidiary companies.

Ultimate parent company

RIO STAINLESS ENGINEERING LIMITED

01884390

RIO STAINLESS ENGINEERING LIMITED Shareholders

trustees of hamlett family settlement 1998	35%
trustees of hamlett childrens settlement 1998	20%
mr nigel williams	15%
p.f.j. hamlett	15%
k.j. lunn	15%

Rio Stainless Engineering Limited currently has 3 directors. The longest serving directors include Mr Peter Hamlett (Feb 1992) and Lee Foster (Oct 2005).

officer	age	start	end	role
Mr Peter Hamlett	78 years	Feb 1992	-	Director
Lee Foster	57 years	Oct 2005	-	Director
Ms Lisa Stokes	54 years	Oct 2005	-	Director

P&L

March 2023

turnover

1.1m

+8%

operating profit

71.9k

gross margin

15.1%

+5.71%

turnover

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

Balance Sheet

March 2023

net assets

2.5m

+0.05%

total assets

3.1m

+0.01%

cash

+0.03%

net assets

Total assets minus all liabilities

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company number

01884390

Type

Private limited with Share Capital

industry

24200 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel

incorporation date

February 1985

accounts

Unaudited Abridged

ultimate parent company

None

previous names

swayvine limited (April 1985)

last accounts submitted

March 2023

address

unit 1, neptune industrial, estate, owen road, willenhall, west midlands, WV13 2PZ

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 2 charges/mortgages relating to rio stainless engineering limited. Currently there are 2 open charges and 0 have been satisfied in the past.

rio stainless engineering limited Company Information

rio stainless engineering limited Estimated Valuation

rio stainless engineering limited Estimated Valuation

rio stainless engineering limited Estimated Valuation

Rio Stainless Engineering Limited Overview

Rio Stainless Engineering Limited Health Check

RIO STAINLESS ENGINEERING LIMITED financials

rio stainless engineering limited Credit Report and Business Information

Rio Stainless Engineering Limited Competitor Analysis

rio stainless engineering limited Ownership

rio stainless engineering limited directors

rio stainless engineering limited company details

rio stainless engineering limited Charges & Mortgages

rio stainless engineering limited Companies House Filings - See Documents