first essex buses limited
first essex buses limited Company Information
Company Number
01961457
Next Accounts
Dec 2025
Shareholders
first bus holdings limited
Group Structure
View All
Industry
Urban, suburban or metropolitan area passenger land transport other than railway transportation by underground, metro and similar systems
Registered Address
bus depot, westway, chelmsford, essex, CM1 3AR
Website
https://www.firstbus.co.uk/first essex buses limited Estimated Valuation
Pomanda estimates the enterprise value of FIRST ESSEX BUSES LIMITED at £2m based on a Turnover of £59.7m and 0.03x industry multiple (adjusted for size and gross margin).
first essex buses limited Estimated Valuation
Pomanda estimates the enterprise value of FIRST ESSEX BUSES LIMITED at £741.5k based on an EBITDA of £3.1m and a 0.24x industry multiple (adjusted for size and gross margin).
first essex buses limited Estimated Valuation
Pomanda estimates the enterprise value of FIRST ESSEX BUSES LIMITED at £13.7m based on Net Assets of £5.7m and 2.39x industry multiple (adjusted for liquidity).
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First Essex Buses Limited Overview
First Essex Buses Limited is a live company located in chelmsford, CM1 3AR with a Companies House number of 01961457. It operates in the other urban, suburban or metropolitan passenger land transport (not underground, metro or similar) sector, SIC Code 49319. Founded in November 1985, it's largest shareholder is first bus holdings limited with a 100% stake. First Essex Buses Limited is a mature, large sized company, Pomanda has estimated its turnover at £59.7m with healthy growth in recent years.
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First Essex Buses Limited Health Check
Pomanda's financial health check has awarded First Essex Buses Limited a 3 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 5 areas for improvement. Company Health Check FAQs
4 Strong
3 Regular
5 Weak
Size
annual sales of £59.7m, make it larger than the average company (£27.6m)
£59.7m - First Essex Buses Limited
£27.6m - Industry AVG
Growth
3 year (CAGR) sales growth of 6%, show it is growing at a similar rate (6.4%)
6% - First Essex Buses Limited
6.4% - Industry AVG
Production
with a gross margin of -4.7%, this company has a higher cost of product (7.5%)
-4.7% - First Essex Buses Limited
7.5% - Industry AVG
Profitability
an operating margin of -1.1% make it less profitable than the average company (3.5%)
-1.1% - First Essex Buses Limited
3.5% - Industry AVG
Employees
with 979 employees, this is above the industry average (369)
979 - First Essex Buses Limited
369 - Industry AVG
Pay Structure
on an average salary of £36.9k, the company has an equivalent pay structure (£35.7k)
£36.9k - First Essex Buses Limited
£35.7k - Industry AVG
Efficiency
resulting in sales per employee of £61k, this is equally as efficient (£70.1k)
£61k - First Essex Buses Limited
£70.1k - Industry AVG
Debtor Days
it gets paid by customers after 5 days, this is earlier than average (7 days)
5 days - First Essex Buses Limited
7 days - Industry AVG
Creditor Days
its suppliers are paid after 15 days, this is slower than average (12 days)
15 days - First Essex Buses Limited
12 days - Industry AVG
Stock Days
it holds stock equivalent to 4 days, this is more than average (3 days)
4 days - First Essex Buses Limited
3 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 2 weeks, this is less cash available to meet short term requirements (6 weeks)
2 weeks - First Essex Buses Limited
6 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 85.3%, this is a higher level of debt than the average (67.1%)
85.3% - First Essex Buses Limited
67.1% - Industry AVG
FIRST ESSEX BUSES LIMITED financials
First Essex Buses Limited's latest turnover from March 2024 is £59.7 million and the company has net assets of £5.7 million. According to their latest financial statements, First Essex Buses Limited has 979 employees and maintains cash reserves of £1.2 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Mar 2024 | 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 | 59,703,000 | 52,358,000 | 50,036,000 | 50,089,000 | 51,224,000 | 52,231,000 | 52,979,000 | 50,316,000 | 50,080,000 | 51,828,000 | 50,409,000 | 47,528,000 | 46,360,000 | 46,141,000 | 43,806,000 |
| Other Income Or Grants | |||||||||||||||
| Cost Of Sales | |||||||||||||||
| Gross Profit | |||||||||||||||
| Admin Expenses | |||||||||||||||
| Operating Profit | -655,000 | -4,706,000 | 1,060,000 | 3,970,000 | -1,012,000 | 386,000 | -2,936,000 | -340,000 | 403,000 | 2,627,000 | 1,868,000 | 3,556,000 | 3,324,000 | 6,323,000 | 5,118,000 |
| Interest Payable | 113,000 | 78,000 | 176,000 | 234,000 | 359,000 | 298,000 | 332,000 | 196,000 | 185,000 | 280,000 | 135,000 | 152,000 | 73,000 | 75,000 | 75,000 |
| Interest Receivable | 64,000 | 216,000 | |||||||||||||
| Pre-Tax Profit | -704,000 | -4,568,000 | 884,000 | 3,736,000 | -1,371,000 | 88,000 | -3,268,000 | -536,000 | 218,000 | 2,347,000 | 1,733,000 | 3,404,000 | 3,251,000 | 6,248,000 | 5,043,000 |
| Tax | 168,000 | 633,000 | -502,000 | -757,000 | 272,000 | -34,000 | 459,000 | 153,000 | -167,000 | -638,000 | -263,000 | -873,000 | -682,000 | -1,742,000 | -1,393,000 |
| Profit After Tax | -536,000 | -3,935,000 | 382,000 | 2,979,000 | -1,099,000 | 54,000 | -2,809,000 | -383,000 | 51,000 | 1,709,000 | 1,470,000 | 2,531,000 | 2,569,000 | 4,506,000 | 3,650,000 |
| Dividends Paid | 3,000,000 | 6,000,000 | 2,500,000 | ||||||||||||
| Retained Profit | -536,000 | -3,935,000 | 382,000 | 2,979,000 | -1,099,000 | 54,000 | -2,809,000 | -383,000 | 51,000 | 1,709,000 | 1,470,000 | 2,531,000 | -431,000 | -1,494,000 | 1,150,000 |
| Employee Costs | 36,120,000 | 31,506,000 | 30,235,000 | 29,444,000 | 32,541,000 | 32,906,000 | 32,795,000 | 31,060,000 | 30,488,000 | 29,986,000 | 27,679,000 | 25,517,000 | 25,169,000 | 23,529,000 | 23,778,000 |
| Number Of Employees | 979 | 885 | 849 | 930 | 999 | 1,005 | 1,002 | 1,095 | 1,061 | 1,066 | 1,019 | 963 | 958 | 912 | 986 |
| EBITDA* | 3,140,000 | -1,491,000 | 3,797,000 | 7,519,000 | 2,293,000 | 3,812,000 | 766,000 | 3,182,000 | 3,623,000 | 6,067,000 | 5,270,000 | 6,020,000 | 6,022,000 | 9,020,000 | 7,587,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Mar 2024 | 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 | 28,986,000 | 29,389,000 | 27,293,000 | 29,458,000 | 32,684,000 | 32,266,000 | 35,421,000 | 37,742,000 | 35,501,000 | 30,692,000 | 31,177,000 | 24,125,000 | 21,662,000 | 22,268,000 | 23,439,000 |
| Intangible Assets | 3,000 | 6,000 | 9,000 | 12,000 | |||||||||||
| Investments & Other | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 |
| Debtors (Due After 1 year) | 430,000 | 7,217,000 | 2,326,000 | ||||||||||||
| Total Fixed Assets | 28,989,000 | 29,822,000 | 34,516,000 | 31,793,000 | 32,696,000 | 32,281,000 | 35,424,000 | 37,745,000 | 35,504,000 | 30,695,000 | 31,180,000 | 24,128,000 | 21,665,000 | 22,271,000 | 23,442,000 |
| Stock & work in progress | 758,000 | 876,000 | 931,000 | 795,000 | 857,000 | 704,000 | 783,000 | 762,000 | 930,000 | 932,000 | 1,117,000 | 907,000 | 777,000 | 829,000 | 705,000 |
| Trade Debtors | 881,000 | 1,352,000 | 1,212,000 | 2,700,000 | 1,401,000 | 2,225,000 | 3,204,000 | 1,456,000 | 1,060,000 | 515,000 | 695,000 | 751,000 | 705,000 | 1,100,000 | 649,000 |
| Group Debtors | 2,774,000 | 4,008,000 | 228,000 | 2,189,000 | 239,000 | 373,000 | 508,000 | 1,106,000 | 1,729,000 | 1,637,000 | 739,000 | 477,000 | 4,703,000 | ||
| Misc Debtors | 4,153,000 | 4,877,000 | 4,215,000 | 9,426,000 | 3,937,000 | 3,728,000 | 3,435,000 | 4,667,000 | 4,649,000 | 3,329,000 | 3,017,000 | 2,205,000 | 589,000 | 374,000 | 651,000 |
| Cash | 1,211,000 | 384,000 | 3,198,000 | 223,000 | 791,000 | 574,000 | 1,567,000 | 80,000 | 1,046,000 | 1,953,000 | 185,000 | 89,000 | 10,614,000 | 10,717,000 | 4,142,000 |
| misc current assets | |||||||||||||||
| total current assets | 9,777,000 | 11,497,000 | 9,784,000 | 15,333,000 | 7,225,000 | 7,604,000 | 9,497,000 | 8,071,000 | 9,414,000 | 8,366,000 | 5,753,000 | 4,429,000 | 17,388,000 | 13,020,000 | 6,147,000 |
| total assets | 38,766,000 | 41,319,000 | 44,300,000 | 47,126,000 | 39,921,000 | 39,885,000 | 44,921,000 | 45,816,000 | 44,918,000 | 39,061,000 | 36,933,000 | 28,557,000 | 39,053,000 | 35,291,000 | 29,589,000 |
| Bank overdraft | 2,382,000 | 6,011,000 | 352,000 | 24,043,000 | 21,397,000 | 18,429,000 | 16,490,000 | 15,141,000 | 9,578,000 | ||||||
| Bank loan | |||||||||||||||
| Trade Creditors | 2,620,000 | 3,142,000 | 2,293,000 | 2,619,000 | 4,765,000 | 2,670,000 | 2,823,000 | 7,629,000 | 6,010,000 | 2,525,000 | 3,381,000 | 5,032,000 | 2,469,000 | 2,333,000 | 1,760,000 |
| Group/Directors Accounts | 21,210,000 | 19,062,000 | 15,858,000 | 5,477,000 | 5,722,000 | 6,668,000 | 6,172,000 | 5,996,000 | 9,935,000 | 3,686,000 | 5,612,000 | 3,274,000 | 28,257,000 | 25,815,000 | 20,284,000 |
| other short term finances | |||||||||||||||
| hp & lease commitments | 301,000 | 294,000 | 264,000 | 259,000 | 188,000 | 133,000 | |||||||||
| other current liabilities | 4,502,000 | 3,879,000 | 3,550,000 | 3,688,000 | 5,022,000 | 4,172,000 | 4,085,000 | 3,689,000 | 3,858,000 | 9,981,000 | 5,987,000 | 4,400,000 | 4,065,000 | 3,540,000 | 2,299,000 |
| total current liabilities | 28,633,000 | 28,759,000 | 21,965,000 | 18,054,000 | 15,509,000 | 13,862,000 | 37,123,000 | 38,711,000 | 38,232,000 | 32,682,000 | 30,121,000 | 22,472,000 | 34,924,000 | 31,688,000 | 24,343,000 |
| loans | |||||||||||||||
| hp & lease commitments | 1,142,000 | 1,406,000 | 929,000 | 1,125,000 | |||||||||||
| Accruals and Deferred Income | 1,093,000 | 1,043,000 | 1,262,000 | 1,042,000 | 1,176,000 | ||||||||||
| other liabilities | 1,012,000 | 1,903,000 | |||||||||||||
| provisions | 2,398,000 | 2,579,000 | 3,001,000 | 2,673,000 | 10,511,000 | 14,200,000 | 13,190,000 | 11,389,000 | 4,973,000 | 4,029,000 | 1,599,000 | 1,459,000 | 1,893,000 | 2,123,000 | 2,340,000 |
| total long term liabilities | 4,424,000 | 4,482,000 | 5,236,000 | 17,756,000 | 11,773,000 | 15,242,000 | 14,366,000 | 11,389,000 | 4,973,000 | 4,029,000 | 1,599,000 | 2,388,000 | 3,018,000 | 2,123,000 | 2,340,000 |
| total liabilities | 33,057,000 | 33,241,000 | 27,201,000 | 35,810,000 | 27,282,000 | 29,104,000 | 51,489,000 | 50,100,000 | 43,205,000 | 36,711,000 | 31,720,000 | 24,860,000 | 37,942,000 | 33,811,000 | 26,683,000 |
| net assets | 5,709,000 | 8,078,000 | 17,099,000 | 11,316,000 | 12,639,000 | 10,781,000 | -6,568,000 | -4,284,000 | 1,713,000 | 2,350,000 | 5,213,000 | 3,697,000 | 1,111,000 | 1,480,000 | 2,906,000 |
| total shareholders funds | 5,709,000 | 8,078,000 | 17,099,000 | 11,316,000 | 12,639,000 | 10,781,000 | -6,568,000 | -4,284,000 | 1,713,000 | 2,350,000 | 5,213,000 | 3,697,000 | 1,111,000 | 1,480,000 | 2,906,000 |
| Mar 2024 | 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 | -655,000 | -4,706,000 | 1,060,000 | 3,970,000 | -1,012,000 | 386,000 | -2,936,000 | -340,000 | 403,000 | 2,627,000 | 1,868,000 | 3,556,000 | 3,324,000 | 6,323,000 | 5,118,000 |
| Depreciation | 3,795,000 | 3,212,000 | 2,734,000 | 3,546,000 | 3,302,000 | 3,422,000 | 3,702,000 | 3,522,000 | 3,220,000 | 3,440,000 | 3,402,000 | 2,464,000 | 2,698,000 | 2,697,000 | 2,469,000 |
| Amortisation | 3,000 | 3,000 | 3,000 | 3,000 | 4,000 | ||||||||||
| Tax | 168,000 | 633,000 | -502,000 | -757,000 | 272,000 | -34,000 | 459,000 | 153,000 | -167,000 | -638,000 | -263,000 | -873,000 | -682,000 | -1,742,000 | -1,393,000 |
| Stock | -118,000 | -55,000 | 136,000 | -62,000 | 153,000 | -79,000 | 21,000 | -168,000 | -2,000 | -185,000 | 210,000 | 130,000 | -52,000 | 124,000 | 705,000 |
| Debtors | -2,859,000 | -2,205,000 | -3,769,000 | 11,064,000 | -749,000 | -821,000 | -82,000 | -209,000 | 1,957,000 | 1,030,000 | 1,018,000 | -2,564,000 | 4,523,000 | 174,000 | 1,300,000 |
| Creditors | -522,000 | 849,000 | -326,000 | -2,146,000 | 2,095,000 | -153,000 | -4,806,000 | 1,619,000 | 3,485,000 | -856,000 | -1,651,000 | 2,563,000 | 136,000 | 573,000 | 1,760,000 |
| Accruals and Deferred Income | 623,000 | -764,000 | -88,000 | -1,553,000 | 1,070,000 | -47,000 | 1,572,000 | -169,000 | -6,123,000 | 3,994,000 | 1,587,000 | 335,000 | 525,000 | 1,241,000 | 2,299,000 |
| Deferred Taxes & Provisions | -181,000 | -422,000 | 328,000 | -7,838,000 | -3,689,000 | 1,010,000 | 1,801,000 | 6,416,000 | 944,000 | 2,430,000 | 140,000 | -434,000 | -230,000 | -217,000 | 2,340,000 |
| Cash flow from operations | 6,205,000 | 1,065,000 | 6,842,000 | -15,777,000 | 2,637,000 | 5,488,000 | -147,000 | 11,578,000 | -193,000 | 10,152,000 | 3,855,000 | 10,045,000 | 1,300,000 | 8,577,000 | 10,588,000 |
| Investing Activities | |||||||||||||||
| capital expenditure | |||||||||||||||
| Change in Investments | 3,000 | ||||||||||||||
| cash flow from investments | |||||||||||||||
| Financing Activities | |||||||||||||||
| Bank loans | |||||||||||||||
| Group/Directors Accounts | 2,148,000 | 3,204,000 | 10,381,000 | -245,000 | -946,000 | 496,000 | 176,000 | -3,939,000 | 6,249,000 | -1,926,000 | 2,338,000 | -24,983,000 | 2,442,000 | 5,531,000 | 20,284,000 |
| Other Short Term Loans | |||||||||||||||
| Long term loans | |||||||||||||||
| Hire Purchase and Lease Commitments | 7,000 | -1,112,000 | -259,000 | 1,665,000 | -1,117,000 | -141,000 | 1,258,000 | ||||||||
| other long term liabilities | -891,000 | 1,903,000 | |||||||||||||
| share issue | |||||||||||||||
| interest | -49,000 | 138,000 | -176,000 | -234,000 | -359,000 | -298,000 | -332,000 | -196,000 | -185,000 | -280,000 | -135,000 | -152,000 | -73,000 | -75,000 | -75,000 |
| cash flow from financing | -618,000 | -953,000 | 15,347,000 | -3,116,000 | 1,652,000 | 17,493,000 | 369,000 | -9,749,000 | 5,376,000 | -6,778,000 | 1,132,000 | -25,221,000 | 3,689,000 | 5,524,000 | 21,965,000 |
| cash and cash equivalents | |||||||||||||||
| cash | 827,000 | -2,814,000 | 2,975,000 | -568,000 | 217,000 | -993,000 | 1,487,000 | -966,000 | -907,000 | 1,768,000 | 96,000 | -10,525,000 | -103,000 | 6,575,000 | 4,142,000 |
| overdraft | -2,382,000 | 2,382,000 | -6,011,000 | 6,011,000 | -352,000 | -23,691,000 | 2,646,000 | 2,968,000 | 1,939,000 | 1,349,000 | 5,563,000 | 9,578,000 | |||
| change in cash | 3,209,000 | -5,196,000 | 8,986,000 | -6,579,000 | 569,000 | 22,698,000 | -1,159,000 | -3,934,000 | -2,846,000 | 419,000 | -5,467,000 | -20,103,000 | -103,000 | 6,575,000 | 4,142,000 |
first essex buses limited Credit Report and Business Information
First Essex Buses Limited Competitor Analysis
Perform a competitor analysis for first essex buses limited by selecting its closest rivals, whether from the TRANSPORTATION AND STORAGE sector, other large companies, companies in CM1 area or any other competitors across 12 key performance metrics.
first essex buses limited Ownership
FIRST ESSEX BUSES LIMITED group structure
First Essex Buses Limited has 4 subsidiary companies.
Ultimate parent company
2 parents
FIRST ESSEX BUSES LIMITED
01961457
4 subsidiaries
first essex buses limited directors
First Essex Buses Limited currently has 4 directors. The longest serving directors include Mr Piers Marlow (Oct 2020) and Mr Colin Brown (Feb 2021).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Piers Marlow | 66 years | Oct 2020 | - | Director | |
| Mr Colin Brown | United Kingdom | 57 years | Feb 2021 | - | Director |
| Mr Joseph Thompson | England | 49 years | Jun 2021 | - | Director |
| Mr Andrew Jarvis | United Kingdom | 50 years | Nov 2022 | - | Director |
P&L
March 2024turnover
59.7m
+14%
operating profit
-655k
-86%
gross margin
-4.6%
-5%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
March 2024net assets
5.7m
-0.29%
total assets
38.8m
-0.06%
cash
1.2m
+2.15%
net assets
Total assets minus all liabilities
first essex buses limited company details
company number
01961457
Type
Private limited with Share Capital
industry
49319 - Urban, suburban or metropolitan area passenger land transport other than railway transportation by underground, metro and similar systems
incorporation date
November 1985
age
40
incorporated
UK
ultimate parent company
accounts
Audit Exemption Subsidiary
last accounts submitted
March 2024
previous names
essex buses limited (January 2003)
eastern national limited (December 1995)
accountant
-
auditor
-
address
bus depot, westway, chelmsford, essex, CM1 3AR
Bank
HSBC BANK PLC
Legal Advisor
-
first essex buses 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 9 charges/mortgages relating to first essex buses limited. Currently there are 3 open charges and 6 have been satisfied in the past.
first essex buses 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.
Click to start generating capital raising & share issue transactions for FIRST ESSEX BUSES LIMITED. This can take several minutes, an email will notify you when this has completed.
first essex buses limited Companies House Filings - See Documents
| date | description | view/download |
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