Moorhead Excavations Limited

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moorhead excavations limited Company Information

Live

MatureMidHigh

Company Number

01975558

Website

www.moorheadgroup.co.uk

Registered Address

westfield court, lower wortley road, leeds, LS12 4PX

Industry

Site preparation

Freight transport by road

Telephone

01132796556

Next Accounts Due

December 2024

Group Structure

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Directors

Colin Fitton22 Years

Jonathan Prutton7 Years

View All

Shareholders

willoughby (891) limited 100%

moorhead excavations limited Estimated Valuation

£37.8m

Pomanda estimates the enterprise value of MOORHEAD EXCAVATIONS LIMITED at £37.8m based on an EBITDA of £5.9m and a 6.36x industry multiple (adjusted for size and gross margin).

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Moorhead Excavations Limited is a live company located in leeds, LS12 4PX with a Companies House number of 01975558. It operates in the site preparation sector, SIC Code 43120. Founded in January 1986, it's largest shareholder is willoughby (891) limited with a 100% stake. Moorhead Excavations Limited is a mature, mid sized company, Pomanda has estimated its turnover at £18m with high growth in recent years.

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Pomanda's financial health check has awarded Moorhead Excavations 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 Rating5out of 5

7 Strong

3 Regular

1 Weak

Size

annual sales of £18m, make it larger than the average company (£11.3m)

Growth

3 year (CAGR) sales growth of 28%, show it is growing at a faster rate (6.6%)

EXPORT

Moorhead Excavations Limited's latest turnover from March 2023 is £18 million and the company has net assets of £3.1 million. According to their latest financial statements, Moorhead Excavations Limited has 37 employees and maintains cash reserves of £2.2 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	Oct 2009
Turnover	18,007,781	13,843,692	13,720,697	8,572,449	6,722,150	8,224,153	6,961,574	6,249,722	6,857,421	6,983,761	6,457,257	6,555,495	7,877,954	6,848,644
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	10,164,434	9,402,682	10,682,198	6,462,299	5,057,445	6,218,326	5,313,713	4,871,619	5,392,295	5,418,431	4,837,764	4,599,306	5,922,928	5,478,915
Gross Profit	7,843,347	4,441,010	3,038,498	2,110,151	1,664,705	2,005,828	1,647,860	1,378,104	1,465,126	1,565,330	1,619,493	1,956,189	1,955,026	1,369,729
Admin Expenses	2,614,344	2,003,683	2,124,649	2,229,968	994,122	1,794,799	579,488	1,266,191	913,720	1,449,201	1,266,649	3,352,679	694,186	596,248
Operating Profit	5,229,003	2,437,327	913,849	-119,817	670,583	211,029	1,068,372	111,913	551,406	116,129	352,844	-1,396,490	1,260,840	773,481
Interest Payable	75,123	56,478	1,476	10,600	32,951	54,282	31,032	0	53,054	32,865	39,442	37,871	81,739	76,164
Interest Receivable	1,003	661	876	419	2,905	2,265	1,208	5,262	12,074	68,055	96,460	86,047	54,219	121,405
Pre-Tax Profit	5,154,883	2,381,510	913,249	-129,997	640,537	159,012	1,038,549	117,175	510,426	151,319	409,862	-1,348,314	1,199,738	815,384
Tax	-785,632	-1,013,757	-173,517	0	-121,702	-30,212	-207,710	-23,435	-112,461	-10,000	-89,646	-140,964	-337,179	-229,623
Profit After Tax	4,369,251	1,367,753	739,732	-129,997	518,835	128,800	830,839	93,740	397,965	141,319	320,216	-1,489,278	862,559	585,761
Dividends Paid	4,000,000	950,000	0	0	0	0	0	0	1,538,157	5,053,000	0	68,000	100,000	0
Retained Profit	369,251	417,753	739,732	-129,997	518,835	128,800	830,839	93,740	-1,140,192	-4,911,681	320,216	-1,557,278	762,559	585,761
Employee Costs	1,853,205	1,568,626	1,642,756	1,605,762	1,407,709	1,407,008	1,358,423	1,393,101	2,811,196	3,283,395	1,674,735	1,632,525	1,980,626	1,435,122
Number Of Employees	37	36	42	42	38	40	40	42	44	44	45	44	46	50
EBITDA*	5,932,638	3,045,018	1,498,906	411,445	1,237,248	743,649	1,565,046	552,538	956,637	513,467	787,983	-905,713	2,159,621	1,442,029

* 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	Oct 2009
Tangible Assets	2,205,129	1,989,528	1,826,726	1,836,366	1,437,466	1,467,801	2,030,833	1,638,008	1,605,096	1,180,463	1,184,527	1,606,959	1,478,544	1,894,131
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)	80,290	174,461	118,891	15,955	69,049	63,511	58,341	54,954	3,500	0	0	0	0	0
Total Fixed Assets	2,285,419	2,163,989	1,945,617	1,852,321	1,506,515	1,531,312	2,089,174	1,692,962	1,608,596	1,180,463	1,184,527	1,606,959	1,478,544	1,894,131
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	1,669,810	2,660,464	2,789,623	1,487,598	1,139,263	1,455,997	1,117,230	186,256	1,201,106	1,191,776	606,781	1,480,604	317,833	420,432
Group Debtors	664,172	999,490	1,394,375	940,535	1,621,741	1,128,872	423,037	1,754,303	819,584	1,398,497	250,330	270,155	5,217,945	3,098,959
Misc Debtors	294,168	341,625	204,226	66,363	200,023	66,169	751,801	97,233	2,000	103,636	54,491	88,429	46,840	42,778
Cash	2,203,591	1,344,017	1,230,451	522,200	316,058	458,517	447,610	519,152	1,585,584	1,367,105	7,897,083	6,410,903	4,055,078	4,468,068
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	4,831,741	5,345,596	5,618,675	3,016,696	3,277,085	3,109,555	2,739,678	2,556,944	3,608,274	4,061,014	8,808,685	8,250,091	9,637,696	8,030,237
total assets	7,117,160	7,509,585	7,564,292	4,869,017	4,783,600	4,640,867	4,828,852	4,249,906	5,216,870	5,241,477	9,993,212	9,857,050	11,116,240	9,924,368
Bank overdraft	0	0	0	48,392	250,613	297,857	315,312	0	0	0	0	0	0	59,350
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	1,047,765	1,996,160	1,727,212	886,648	788,329	1,083,776	1,061,588	1,729,234	761,607	924,625	1,150,691	888,847	1,072,670	590,386
Group/Directors Accounts	84,967	30,027	212,302	0	141,218	73,549	149,781	0	1,460,512	62,692	1,295,944	1,769,329	997,965	940,164
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	686,106	596,818	621,866	542,230	418,906	252,472	192,171	339,894	275,618	282,428	451,386	295,378	420,051	443,966
other current liabilities	716,583	743,604	1,289,564	481,136	682,787	687,797	611,440	921,655	1,565,309	2,117,319	554,691	474,976	640,374	555,776
total current liabilities	2,535,421	3,366,609	3,850,944	1,958,406	2,281,853	2,395,451	2,330,292	2,990,783	4,063,046	3,387,064	3,452,712	3,428,530	3,131,060	2,589,642
loans	0	0	0	0	48,522	379,320	677,715	0	0	0	0	0	0	0
hp & lease commitments	943,232	928,138	974,210	1,051,751	590,926	510,622	569,199	834,976	843,554	513,490	287,896	458,371	428,860	503,823
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	553,147	498,729	440,782	300,236	173,678	185,688	210,660	214,000	193,863	84,324	84,324	122,085	150,978	188,120
total long term liabilities	1,496,379	1,426,867	1,414,992	1,351,987	813,126	1,075,630	1,457,574	1,048,976	1,037,417	597,814	372,220	580,456	579,838	691,943
total liabilities	4,031,800	4,793,476	5,265,936	3,310,393	3,094,979	3,471,081	3,787,866	4,039,759	5,100,463	3,984,878	3,824,932	4,008,986	3,710,898	3,281,585
net assets	3,085,360	2,716,109	2,298,356	1,558,624	1,688,621	1,169,786	1,040,986	210,147	116,407	1,256,599	6,168,280	5,848,064	7,405,342	6,642,783
total shareholders funds	3,085,360	2,716,109	2,298,356	1,558,624	1,688,621	1,169,786	1,040,986	210,147	116,407	1,256,599	6,168,280	5,848,064	7,405,342	6,642,783

	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	Oct 2009
Operating Activities
Operating Profit	5,229,003	2,437,327	913,849	-119,817	670,583	211,029	1,068,372	111,913	551,406	116,129	352,844	-1,396,490	1,260,840	773,481
Depreciation	703,635	607,691	585,057	531,262	566,665	532,620	496,674	440,625	405,231	397,338	435,139	490,777	898,781	668,548
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-785,632	-1,013,757	-173,517	0	-121,702	-30,212	-207,710	-23,435	-112,461	-10,000	-89,646	-140,964	-337,179	-229,623
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	-1,467,600	-331,075	1,996,664	-519,625	315,527	364,140	257,663	66,556	-667,719	1,782,307	-927,586	-3,743,430	5,582,618	3,562,169
Creditors	-948,395	268,948	840,564	98,319	-295,447	22,188	-667,646	967,627	-163,018	-226,066	261,844	-183,823	1,072,670	590,386
Accruals and Deferred Income	-27,021	-545,960	808,428	-201,651	-5,010	76,357	-310,215	-643,654	-552,010	1,562,628	79,715	-165,398	640,374	555,776
Deferred Taxes & Provisions	54,418	57,947	140,546	126,558	-12,010	-24,972	-3,340	20,137	109,539	0	-37,761	-28,893	150,978	188,120
Cash flow from operations	5,693,608	2,143,271	1,118,263	954,296	487,552	422,870	118,472	806,657	906,406	57,722	1,929,721	2,318,639	-1,896,154	-1,015,481
Investing Activities
capital expenditure	-919,236	-770,493	-575,417	-930,162	-536,330	30,412	-889,499	-473,537	-829,864	215,497	421,248	-625,871	-516,776	-406,384
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-919,236	-770,493	-575,417	-930,162	-536,330	30,412	-889,499	-473,537	-829,864	215,497	421,248	-625,871	-516,776	-406,384
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	54,940	-182,275	212,302	-141,218	67,669	-76,232	149,781	-1,460,512	1,397,820	-1,233,252	-473,385	771,364	997,965	940,164
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	0	0	0	-48,522	-330,798	-298,395	677,715	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	104,382	-71,120	2,095	584,149	246,738	1,724	-413,500	55,698	323,254	56,636	-14,467	-95,162	848,911	947,789
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	6,642,783	6,057,022
interest	-74,120	-55,817	-600	-10,181	-30,046	-52,017	-29,824	5,262	-40,980	35,190	57,018	48,176	-27,520	45,241
cash flow from financing	85,202	-309,212	213,797	384,228	-46,437	-424,920	384,172	-1,399,552	1,680,094	-1,141,426	-430,834	724,378	8,462,139	7,990,216
cash and cash equivalents
cash	859,574	113,566	708,251	206,142	-142,459	10,907	-71,542	-1,066,432	218,479	-6,529,978	1,486,180	2,355,825	4,055,078	4,468,068
overdraft	0	0	-48,392	-202,221	-47,244	-17,455	315,312	0	0	0	0	0	0	59,350
change in cash	859,574	113,566	756,643	408,363	-95,215	28,362	-386,854	-1,066,432	218,479	-6,529,978	1,486,180	2,355,825	4,055,078	4,408,718

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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MOORHEAD EXCAVATIONS LIMITED group structure

Moorhead Excavations Limited has no subsidiary companies.

Ultimate parent company

WILLOUGHBY (891) LIMITED

10167031

1 parent

MOORHEAD EXCAVATIONS LIMITED

01975558

MOORHEAD EXCAVATIONS LIMITED Shareholders

willoughby (891) limited

100%

Moorhead Excavations Limited currently has 3 directors. The longest serving directors include Mr Colin Fitton (May 2002) and Mr Jonathan Prutton (Jul 2016).

officer	country	age	start	end	role
Mr Colin Fitton	England	57 years	May 2002	-	Director
Mr Jonathan Prutton	England	62 years	Jul 2016	-	Director
Mr Philip Horsnall	United Kingdom	63 years	Jul 2016	-	Director

P&L

March 2023

turnover

18m

+30%

operating profit

5.2m

+115%

gross margin

43.6%

+35.77%

turnover

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

Balance Sheet

March 2023

net assets

3.1m

+0.14%

total assets

7.1m

-0.05%

cash

2.2m

+0.64%

net assets

Total assets minus all liabilities

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2.5

company number

01975558

Type

Private limited with Share Capital

industry

43120 - Site preparation

49410 - Freight transport by road

incorporation date

January 1986

age

accounts

Full Accounts

ultimate parent company

WILLOUGHBY (891) LIMITED

previous names

ken moorhead excavations limited (December 2001)

ken moorhead haulage limited (June 1989)

incorporated

address

westfield court, lower wortley road, leeds, LS12 4PX

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 10 charges/mortgages relating to moorhead excavations limited. Currently there are 0 open charges and 10 have been satisfied in the past.

moorhead excavations limited Company Information

moorhead excavations limited Estimated Valuation

moorhead excavations limited Estimated Valuation

moorhead excavations limited Estimated Valuation

Moorhead Excavations Limited Overview

Moorhead Excavations Limited Health Check

MOORHEAD EXCAVATIONS LIMITED financials

moorhead excavations limited Credit Report and Business Information

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moorhead excavations limited Ownership

moorhead excavations limited directors

moorhead excavations limited company details

moorhead excavations limited Charges & Mortgages

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