Readymight Limited

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readymight limited Company Information

Dissolved

Company Number

02283882

Next Accounts

Nov 2024

Industry

Licensed restaurants

Directors

Darshan Singh

Peter D'Silva

Shareholders

palace enterprises limited

Group Structure

View All

Contact

Registered Address

central house rear office, 124 high street, hampton hill, middlesex, TW12 1NS

Website

bombay-palace.co.uk

readymight limited Estimated Valuation

£1.5m

Pomanda estimates the enterprise value of READYMIGHT LIMITED at £1.5m based on a Turnover of £2.8m and 0.54x industry multiple (adjusted for size and gross margin).

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Readymight Limited is a dissolved company that was located in hampton hill, TW12 1NS with a Companies House number of 02283882. It operated in the licenced restaurants sector, SIC Code 56101. Founded in August 1988, it's largest shareholder was palace enterprises limited with a 100% stake. The last turnover for Readymight Limited was estimated at £2.8m.

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Pomanda's financial health check has awarded Readymight Limited a 2.5 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 Rating2.5out of 5

3 Strong

1 Regular

5 Weak

Size

annual sales of £2.8m, make it larger than the average company (£2.1m)

Growth

3 year (CAGR) sales growth of 112%, show it is growing at a faster rate (4%)

EXPORT

Readymight Limited's latest turnover from December 2019 is estimated at £2.8 million and the company has net assets of 0. According to their latest financial statements, we estimate that Readymight Limited has 44 employees and maintains cash reserves of 0 as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Turnover	2,763,841	2,882,418	759	291,410	337,509	1,112,277	1,250,332	4,033,131	1,557,853	1,274,385	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,791,992	1,831,116	457	177,757	205,805	682,233	782,184	2,536,990	968,252	750,673	0
Gross Profit	971,849	1,051,302	302	113,653	131,704	430,045	468,149	1,496,141	589,601	523,712	0
Admin Expenses	971,849	742,662	26,459	-184,935	666,664	276,933	270,136	1,707,342	353,324	352,079	294,084
Operating Profit	0	308,640	-26,157	298,588	-534,960	153,112	198,013	-211,201	236,277	171,633	-294,084
Interest Payable	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	0	2	395	381	1,112	1,211	762	909	977	615	252
Pre-Tax Profit	0	308,642	-25,762	298,969	-533,848	154,323	198,775	-210,292	237,254	172,249	-293,832
Tax	0	-58,642	0	-59,794	0	-32,408	-45,718	0	-61,686	-48,230	0
Profit After Tax	0	250,000	-25,762	239,175	-533,848	121,915	153,057	-210,292	175,568	124,019	-293,832
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	0	250,000	-25,762	239,175	-533,848	121,915	153,057	-210,292	175,568	124,019	-293,832
Employee Costs	801,165	847,691	16,992	199,218	198,979	305,777	348,784	1,093,114	404,303	330,895	0
Number Of Employees	44	47	1	12	12	19	22	73	27	23	0
EBITDA*	0	308,640	-26,157	355,308	-510,769	185,607	240,388	-150,913	253,097	183,271	-286,579

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Tangible Assets	0	0	0	28,000	81,620	105,811	138,306	183,712	34,463	48,618	26,167
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	0	0	0	0	0	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	0	0	0	28,000	81,620	105,811	138,306	183,712	34,463	48,618	26,167
Stock & work in progress	0	0	0	18,142	5,634	16,760	18,290	14,966	6,768	15,272	14,149
Trade Debtors	195,300	195,784	0	6,695	0	58,360	60,722	208,849	94,868	69,909	57,117
Group Debtors	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	0	0	0	50,630	105,115	0	0	0	0	0	0
Cash	0	0	484	157,351	147,408	297,317	186,907	118,056	245,671	145,156	100,972
misc current assets	0	0	0	0	0	0	0	0	0	0	0
total current assets	195,300	195,784	484	232,818	258,157	372,437	265,919	341,871	347,307	230,337	172,238
total assets	195,300	195,784	484	260,818	339,777	478,248	404,225	525,583	381,770	278,955	198,405
Bank overdraft	0	0	0	0	0	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	195,300	195,784	484	69,021	97,649	157,813	203,344	405,120	76,015	198,768	62,237
Group/Directors Accounts	0	0	0	111,703	439,965	0	0	0	0	0	0
other short term finances	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
other current liabilities	0	0	0	54,332	15,576	0	0	0	0	0	0
total current liabilities	195,300	195,784	484	235,056	553,190	157,813	203,344	405,120	76,015	198,768	62,237
loans	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
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0	75,000	50,000	0	180,000
provisions	0	0	0	0	0	0	2,361	0	0	0	0
total long term liabilities	0	0	0	0	0	0	2,361	75,000	50,000	0	180,000
total liabilities	195,300	195,784	484	235,056	553,190	157,813	205,705	480,120	126,015	198,768	242,237
net assets	0	0	0	25,762	-213,413	320,435	198,520	45,463	255,755	80,187	-43,832
total shareholders funds	0	0	0	25,762	-213,413	320,435	198,520	45,463	255,755	80,187	-43,832

	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Operating Activities
Operating Profit	0	308,640	-26,157	298,588	-534,960	153,112	198,013	-211,201	236,277	171,633	-294,084
Depreciation	0	0	0	56,720	24,191	32,495	42,375	60,288	16,820	11,638	7,505
Amortisation	0	0	0	0	0	0	0	0	0	0	0
Tax	0	-58,642	0	-59,794	0	-32,408	-45,718	0	-61,686	-48,230	0
Stock	0	0	-18,142	12,508	-11,126	-1,530	3,324	8,198	-8,504	1,123	14,149
Debtors	-484	195,784	-57,325	-47,790	46,755	-2,362	-148,127	113,981	24,959	12,792	57,117
Creditors	-484	195,300	-68,537	-28,628	-60,164	-45,531	-201,776	329,105	-122,753	136,531	62,237
Accruals and Deferred Income	0	0	-54,332	38,756	15,576	0	0	0	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	-2,361	2,361	0	0	0	0
Cash flow from operations	0	249,514	-73,559	340,924	-590,986	109,199	140,058	56,013	52,203	257,657	-295,608
Investing Activities
capital expenditure	0	0	28,000	-3,100	0	0	3,031	-209,537	-2,665	-34,089	-33,672
Change in Investments	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	0	0	28,000	-3,100	0	0	3,031	-209,537	-2,665	-34,089	-33,672
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	-111,703	-328,262	439,965	0	0	0	0	0	0
Other Short Term Loans	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
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	0	0	0	0	0	0	-75,000	25,000	50,000	-180,000	180,000
share issue	0	-250,000	0	0	0	0	0	0	0	0	250,000
interest	0	2	395	381	1,112	1,211	762	909	977	615	252
cash flow from financing	0	-249,998	-111,308	-327,881	441,077	1,211	-74,238	25,909	50,977	-179,385	430,252
cash and cash equivalents
cash	0	-484	-156,867	9,943	-149,909	110,410	68,851	-127,615	100,515	44,184	100,972
overdraft	0	0	0	0	0	0	0	0	0	0	0
change in cash	0	-484	-156,867	9,943	-149,909	110,410	68,851	-127,615	100,515	44,184	100,972

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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READYMIGHT LIMITED group structure

Readymight Limited has no subsidiary companies.

Ultimate parent company

PALACE HOSPITALITY GROUP LLC

#0109019

PALACE ENTERPRISES LIMITED

10591888

2 parents

READYMIGHT LIMITED

02283882

READYMIGHT LIMITED Shareholders

palace enterprises limited

100%

Readymight Limited currently has 2 directors. The longest serving directors include Darshan Singh (May 1999) and Mr Peter D'Silva (Jul 2003).

officer	country	age	start	end	role
Darshan Singh		51 years	May 1999	-	Director
Mr Peter D'Silva	United Kingdom	53 years	Jul 2003	-	Director

P&L

December 2019

turnover

2.8m

-4%

operating profit

gross margin

35.2%

-3.59%

turnover

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

Balance Sheet

December 2019

net assets

total assets

195.3k

cash

net assets

Total assets minus all liabilities

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company number

02283882

Type

Private limited with Share Capital

industry

56101 - Licensed restaurants

incorporation date

August 1988

ultimate parent company

PALACE HOSPITALITY GROUP LLC

previous names

N/A

address

central house rear office, 124 high street, hampton hill, middlesex, TW12 1NS

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 did not find charges/mortgages relating to readymight limited.

readymight limited Company Information

readymight limited Estimated Valuation

readymight limited Estimated Valuation

readymight limited Estimated Valuation

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