sykes seafood limited
sykes seafood limited Company Information
Company Number
02289318
Website
-Registered Address
unit 1 omega boulevard, warrington, WA5 3ZL
Industry
Retail sale of fish, crustaceans and molluscs in specialised stores
Wholesale of other food, including fish, crustaceans and molluscs
Telephone
01612239311
Next Accounts Due
January 2025
Group Structure
View All
Shareholders
sykes seafood holdings ltd 100%
sykes seafood limited Estimated Valuation
Pomanda estimates the enterprise value of SYKES SEAFOOD LIMITED at £245.1m based on a Turnover of £165.6m and 1.48x industry multiple (adjusted for size and gross margin).
sykes seafood limited Estimated Valuation
Pomanda estimates the enterprise value of SYKES SEAFOOD LIMITED at £64.1m based on an EBITDA of £5.6m and a 11.44x industry multiple (adjusted for size and gross margin).
sykes seafood limited Estimated Valuation
Pomanda estimates the enterprise value of SYKES SEAFOOD LIMITED at £13.5m based on Net Assets of £11.5m and 1.18x industry multiple (adjusted for liquidity).
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Sykes Seafood Limited Overview
Sykes Seafood Limited is a live company located in warrington, WA5 3ZL with a Companies House number of 02289318. It operates in the wholesale of other food, including fish, crustaceans and molluscs sector, SIC Code 46380. Founded in August 1988, it's largest shareholder is sykes seafood holdings ltd with a 100% stake. Sykes Seafood Limited is a mature, mega sized company, Pomanda has estimated its turnover at £165.6m with healthy growth in recent years.
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Sykes Seafood Limited Health Check
Pomanda's financial health check has awarded Sykes Seafood Limited a 3.5 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 £165.6m, make it larger than the average company (£14.6m)
£165.6m - Sykes Seafood Limited
£14.6m - Industry AVG
Growth
3 year (CAGR) sales growth of 7%, show it is growing at a slower rate (10.8%)
7% - Sykes Seafood Limited
10.8% - Industry AVG
Production
with a gross margin of 15.1%, this company has a comparable cost of product (17.5%)
15.1% - Sykes Seafood Limited
17.5% - Industry AVG
Profitability
an operating margin of 2.6% make it as profitable than the average company (2.9%)
2.6% - Sykes Seafood Limited
2.9% - Industry AVG
Employees
with 183 employees, this is above the industry average (16)
183 - Sykes Seafood Limited
16 - Industry AVG
Pay Structure
on an average salary of £46.3k, the company has a higher pay structure (£30.1k)
£46.3k - Sykes Seafood Limited
£30.1k - Industry AVG
Efficiency
resulting in sales per employee of £905.2k, this is more efficient (£377.6k)
£905.2k - Sykes Seafood Limited
£377.6k - Industry AVG
Debtor Days
it gets paid by customers after 32 days, this is near the average (30 days)
32 days - Sykes Seafood Limited
30 days - Industry AVG
Creditor Days
its suppliers are paid after 24 days, this is slower than average (19 days)
24 days - Sykes Seafood Limited
19 days - Industry AVG
Stock Days
it holds stock equivalent to 93 days, this is more than average (26 days)
93 days - Sykes Seafood Limited
26 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 5 weeks, this is less cash available to meet short term requirements (13 weeks)
5 weeks - Sykes Seafood Limited
13 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 84.9%, this is a higher level of debt than the average (67.7%)
84.9% - Sykes Seafood Limited
67.7% - Industry AVG
SYKES SEAFOOD LIMITED financials
Sykes Seafood Limited's latest turnover from April 2023 is £165.6 million and the company has net assets of £11.5 million. According to their latest financial statements, Sykes Seafood Limited has 183 employees and maintains cash reserves of £5.7 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Apr 2023 | Apr 2022 | Mar 2021 | Mar 2020 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 165,645,000 | 116,979,000 | 107,799,000 | 136,549,000 | 104,451,000 | 99,694,000 | 96,176,000 | 88,300,000 | 85,549,499 | 65,420,369 | 58,988,997 | 55,562,222 | 54,431,989 | 43,334,710 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 140,638,000 | 97,260,000 | 95,055,000 | 114,696,000 | 89,853,000 | 89,206,000 | 85,492,000 | 78,955,000 | 77,140,755 | 57,780,837 | 52,947,633 | 49,721,936 | 48,614,169 | 38,436,201 |
| Gross Profit | 25,007,000 | 19,719,000 | 12,744,000 | 21,853,000 | 14,598,000 | 10,488,000 | 10,684,000 | 9,345,000 | 8,408,744 | 7,639,532 | 6,041,364 | 5,840,286 | 5,817,820 | 4,898,509 |
| Admin Expenses | 20,626,000 | 13,991,000 | 12,431,000 | 15,957,000 | 10,313,000 | 8,105,000 | 6,200,000 | 7,921,000 | 6,912,627 | 6,333,642 | 5,219,764 | 5,113,721 | 5,311,501 | 4,475,879 |
| Operating Profit | 4,381,000 | 5,728,000 | 313,000 | 5,896,000 | 4,285,000 | 2,383,000 | 4,484,000 | 1,424,000 | 1,496,117 | 1,305,890 | 821,600 | 726,565 | 506,319 | 422,630 |
| Interest Payable | 1,987,000 | 726,000 | 616,000 | 1,165,000 | 799,000 | 458,000 | 499,000 | 126,000 | 34,275 | 27,085 | 288,843 | 248,907 | 225,728 | 207,238 |
| Interest Receivable | 0 | 0 | 0 | 0 | 2,000 | 0 | 7,000 | 0 | 1,295 | 29 | 0 | 5,730 | 1,991 | 40 |
| Pre-Tax Profit | 2,478,000 | 5,056,000 | 127,000 | 4,889,000 | 3,548,000 | 1,925,000 | 5,740,000 | 1,305,000 | 1,463,137 | 1,278,834 | 872,757 | 483,388 | 341,582 | 215,432 |
| Tax | -576,000 | -1,015,000 | -19,000 | -932,000 | -658,000 | -561,000 | -933,000 | -282,000 | -323,835 | -311,120 | -151,746 | -109,964 | -100,205 | -25,121 |
| Profit After Tax | 1,902,000 | 4,041,000 | 108,000 | 3,957,000 | 2,890,000 | 1,364,000 | 4,807,000 | 1,023,000 | 1,139,302 | 967,714 | 721,011 | 373,424 | 241,377 | 190,311 |
| Dividends Paid | 0 | 0 | 2,000,000 | 4,500,000 | 1,000,000 | 3,000,000 | 2,100,000 | 150,000 | 234,329 | 420,000 | 100,000 | 0 | 0 | 100,000 |
| Retained Profit | 1,902,000 | 4,041,000 | -1,892,000 | -543,000 | 1,890,000 | -1,636,000 | 2,707,000 | 873,000 | 904,973 | 547,714 | 621,011 | 373,424 | 241,377 | 90,311 |
| Employee Costs | 8,470,000 | 5,597,000 | 5,373,000 | 6,679,000 | 4,540,000 | 2,778,000 | 2,662,000 | 3,228,000 | 3,115,647 | 2,977,826 | 2,640,869 | 2,645,283 | 2,711,390 | 2,530,435 |
| Number Of Employees | 183 | 150 | 144 | 136 | 107 | 55 | 58 | 68 | 72 | 70 | 66 | 65 | 71 | 65 |
| EBITDA* | 5,597,000 | 6,768,000 | 1,315,000 | 7,041,000 | 5,162,000 | 2,697,000 | 4,766,000 | 1,821,000 | 1,939,910 | 1,764,926 | 1,252,231 | 1,127,636 | 890,531 | 732,625 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Apr 2023 | Apr 2022 | Mar 2021 | Mar 2020 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 13,547,000 | 3,978,000 | 3,697,000 | 4,098,000 | 4,703,000 | 5,136,000 | 1,076,000 | 1,187,000 | 1,436,355 | 1,727,965 | 1,818,374 | 1,970,280 | 1,738,625 | 2,275,586 |
| Intangible Assets | 276,000 | 865,000 | 1,078,000 | 1,270,000 | 537,000 | 570,000 | 660,000 | 929,000 | 986,648 | 106,652 | 126,656 | 146,660 | 166,664 | 135,000 |
| Investments & Other | 818,000 | 818,000 | 818,000 | 818,000 | 818,000 | 818,000 | 818,000 | 818,000 | 817,510 | 817,510 | 817,510 | 10,000 | 10,000 | 10,000 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10,600 | 15,200 | 14,800 | 0 | 0 | 0 |
| Total Fixed Assets | 14,641,000 | 5,661,000 | 5,593,000 | 6,186,000 | 6,058,000 | 6,524,000 | 2,554,000 | 2,934,000 | 3,251,113 | 2,667,327 | 2,777,340 | 2,126,940 | 1,915,289 | 2,420,586 |
| Stock & work in progress | 36,032,000 | 42,027,000 | 25,470,000 | 27,293,000 | 32,219,000 | 28,640,000 | 18,002,000 | 14,850,000 | 13,834,163 | 8,188,384 | 6,355,558 | 6,466,230 | 5,817,253 | 4,149,926 |
| Trade Debtors | 14,921,000 | 12,630,000 | 4,170,000 | 8,266,000 | 13,051,000 | 10,528,000 | 16,356,000 | 14,306,000 | 10,346,816 | 9,237,055 | 6,703,725 | 6,756,775 | 6,080,903 | 5,185,183 |
| Group Debtors | 2,681,000 | 10,359,000 | 7,833,000 | 9,991,000 | 273,000 | 325,000 | 1,697,000 | 2,136,000 | 276,109 | 86,572 | 350,000 | 657,772 | 272,752 | 0 |
| Misc Debtors | 2,027,000 | 1,155,000 | 860,000 | 882,000 | 570,000 | 529,000 | 827,000 | 612,000 | 643,739 | 894,822 | 320,863 | 582,530 | 281,290 | 298,012 |
| Cash | 5,695,000 | 3,466,000 | 2,143,000 | 3,664,000 | 213,000 | 157,000 | 4,570,000 | 2,821,000 | 1,109 | 683,639 | 1,020,013 | 6,290 | 1,514 | 1,574 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 61,356,000 | 69,637,000 | 40,476,000 | 50,096,000 | 46,326,000 | 40,179,000 | 41,452,000 | 34,725,000 | 25,101,936 | 19,090,472 | 14,750,159 | 14,469,597 | 12,453,712 | 9,634,695 |
| total assets | 75,997,000 | 75,298,000 | 46,069,000 | 56,282,000 | 52,384,000 | 46,703,000 | 44,006,000 | 37,659,000 | 28,353,049 | 21,757,799 | 17,527,499 | 16,596,537 | 14,369,001 | 12,055,281 |
| Bank overdraft | 30,309,000 | 37,074,000 | 23,002,000 | 29,476,000 | 28,029,000 | 25,688,000 | 27,147,000 | 20,663,000 | 166,948 | 0 | 638,916 | 2,664,525 | 2,464,967 | 1,455,632 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 9,320,000 | 7,074,000 | 5,732,000 | 5,965,000 | 6,935,000 | 8,442,000 | 4,358,000 | 8,630,000 | 5,666,757 | 6,411,268 | 3,929,496 | 4,945,460 | 4,048,377 | 2,621,195 |
| Group/Directors Accounts | 5,492,000 | 14,899,000 | 9,230,000 | 10,284,000 | 6,018,000 | 2,872,000 | 2,815,000 | 2,003,000 | 1,438,365 | 170,000 | 61,171 | 0 | 25,000 | 360,869 |
| other short term finances | 646,000 | 108,000 | 301,000 | 0 | 0 | 0 | 0 | 0 | 15,443,970 | 10,718,606 | 8,967,871 | 5,378,294 | 5,203,672 | 4,215,976 |
| hp & lease commitments | 228,000 | 48,000 | 0 | 0 | 0 | 0 | 0 | 41,000 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 9,863,000 | 5,604,000 | 1,721,000 | 2,492,000 | 2,350,000 | 2,120,000 | 1,786,000 | 734,000 | 784,449 | 632,956 | 489,675 | 494,670 | 351,547 | 451,919 |
| total current liabilities | 55,858,000 | 64,807,000 | 39,986,000 | 48,217,000 | 43,332,000 | 39,122,000 | 36,106,000 | 32,071,000 | 23,500,489 | 17,932,830 | 14,087,129 | 13,482,949 | 12,093,563 | 9,105,591 |
| loans | 6,733,000 | 0 | 0 | 0 | 394,000 | 746,000 | 150,000 | 300,000 | 500,000 | 352,382 | 498,997 | 764,726 | 300,000 | 1,215,629 |
| hp & lease commitments | 871,000 | 147,000 | 0 | 0 | 0 | 0 | 0 | 77,000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 350,000 | 409,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 94,000 | 214,000 | 215,000 | 275,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 958,000 | 549,000 | 328,000 | 358,000 | 333,000 | 341,000 | 29,000 | 85,000 | 100,000 | 125,000 | 141,500 | 170,000 | 170,000 | 170,000 |
| total long term liabilities | 8,656,000 | 910,000 | 543,000 | 633,000 | 1,077,000 | 1,496,000 | 179,000 | 462,000 | 600,000 | 477,382 | 640,497 | 934,726 | 470,000 | 1,385,629 |
| total liabilities | 64,514,000 | 65,717,000 | 40,529,000 | 48,850,000 | 44,409,000 | 40,618,000 | 36,285,000 | 32,533,000 | 24,100,489 | 18,410,212 | 14,727,626 | 14,417,675 | 12,563,563 | 10,491,220 |
| net assets | 11,483,000 | 9,581,000 | 5,540,000 | 7,432,000 | 7,975,000 | 6,085,000 | 7,721,000 | 5,126,000 | 4,252,560 | 3,347,587 | 2,799,873 | 2,178,862 | 1,805,438 | 1,564,061 |
| total shareholders funds | 11,483,000 | 9,581,000 | 5,540,000 | 7,432,000 | 7,975,000 | 6,085,000 | 7,721,000 | 5,126,000 | 4,252,560 | 3,347,587 | 2,799,873 | 2,178,862 | 1,805,438 | 1,564,061 |
| Apr 2023 | Apr 2022 | Mar 2021 | Mar 2020 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||
| Operating Profit | 4,381,000 | 5,728,000 | 313,000 | 5,896,000 | 4,285,000 | 2,383,000 | 4,484,000 | 1,424,000 | 1,496,117 | 1,305,890 | 821,600 | 726,565 | 506,319 | 422,630 |
| Depreciation | 1,216,000 | 828,000 | 807,000 | 993,000 | 786,000 | 224,000 | 252,000 | 339,000 | 423,789 | 439,032 | 410,627 | 381,067 | 365,876 | 294,995 |
| Amortisation | 212,000 | 195,000 | 152,000 | 91,000 | 90,000 | 30,000 | 58,000 | 20,004 | 20,004 | 20,004 | 20,004 | 18,336 | 15,000 | |
| Tax | -576,000 | -1,015,000 | -19,000 | -932,000 | -658,000 | -561,000 | -933,000 | -282,000 | -323,835 | -311,120 | -151,746 | -109,964 | -100,205 | -25,121 |
| Stock | -5,995,000 | 16,557,000 | -1,823,000 | 27,293,000 | 3,579,000 | 10,638,000 | 3,152,000 | 1,015,837 | 5,645,779 | 1,832,826 | -110,672 | 648,977 | 1,667,327 | 4,149,926 |
| Debtors | -4,515,000 | 11,281,000 | -6,276,000 | 19,139,000 | 2,512,000 | -7,498,000 | 1,826,000 | 5,776,736 | 1,043,615 | 2,844,261 | -607,689 | 1,362,132 | 1,151,750 | 5,483,195 |
| Creditors | 2,246,000 | 1,342,000 | -233,000 | 5,965,000 | -1,507,000 | 4,084,000 | -4,272,000 | 2,963,243 | -744,511 | 2,481,772 | -1,015,964 | 897,083 | 1,427,182 | 2,621,195 |
| Accruals and Deferred Income | 4,259,000 | 3,883,000 | -771,000 | 2,492,000 | 171,000 | 743,000 | 1,052,000 | -50,449 | 151,493 | 143,281 | -4,995 | 143,123 | -100,372 | 451,919 |
| Deferred Taxes & Provisions | 409,000 | 221,000 | -30,000 | 358,000 | -8,000 | 312,000 | -56,000 | -15,000 | -25,000 | -16,500 | -28,500 | 0 | 0 | 170,000 |
| Cash flow from operations | -16,639,000 | 8,361,000 | -31,508,000 | -2,931,000 | 4,135,000 | -4,421,000 | -2,355,779 | -5,691,337 | -614,728 | 769,387 | 46,769 | -701,941 | -5,682,503 | |
| Investing Activities | ||||||||||||||
| capital expenditure | ||||||||||||||
| Change in Investments | 0 | 0 | 0 | 818,000 | 0 | 0 | 0 | 490 | 0 | 0 | 807,510 | 0 | 0 | 10,000 |
| cash flow from investments | ||||||||||||||
| Financing Activities | ||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | -9,407,000 | 5,669,000 | -1,054,000 | 10,284,000 | 3,146,000 | 57,000 | 812,000 | 564,635 | 1,268,365 | 108,829 | 61,171 | -25,000 | -335,869 | 360,869 |
| Other Short Term Loans | 538,000 | -193,000 | 301,000 | 0 | 0 | 0 | 0 | -15,443,970 | 4,725,364 | 1,750,735 | 3,589,577 | 174,622 | 987,696 | 4,215,976 |
| Long term loans | 6,733,000 | 0 | 0 | 0 | -352,000 | 596,000 | -150,000 | -200,000 | 147,618 | -146,615 | -265,729 | 464,726 | -915,629 | 1,215,629 |
| Hire Purchase and Lease Commitments | 904,000 | 195,000 | 0 | 0 | 0 | 0 | -118,000 | 118,000 | 0 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | -120,000 | -1,000 | -60,000 | 275,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| share issue | ||||||||||||||
| interest | -1,987,000 | -726,000 | -616,000 | -1,165,000 | -797,000 | -458,000 | -492,000 | -126,000 | -32,980 | -27,056 | -288,843 | -243,177 | -223,737 | -207,198 |
| cash flow from financing | -3,339,000 | 4,944,000 | -1,429,000 | 17,369,000 | 1,997,000 | 195,000 | -60,000 | -15,086,895 | 6,108,367 | 1,685,893 | 3,096,176 | 371,171 | -487,539 | 7,059,026 |
| cash and cash equivalents | ||||||||||||||
| cash | 2,229,000 | 1,323,000 | -1,521,000 | 3,664,000 | 56,000 | -4,413,000 | 1,749,000 | 2,819,891 | -682,530 | -336,374 | 1,013,723 | 4,776 | -60 | 1,574 |
| overdraft | -6,765,000 | 14,072,000 | -6,474,000 | 29,476,000 | 2,341,000 | -1,459,000 | 6,484,000 | 20,496,052 | 166,948 | -638,916 | -2,025,609 | 199,558 | 1,009,335 | 1,455,632 |
| change in cash | 8,994,000 | -12,749,000 | 4,953,000 | -25,812,000 | -2,285,000 | -2,954,000 | -4,735,000 | -17,676,161 | -849,478 | 302,542 | 3,039,332 | -194,782 | -1,009,395 | -1,454,058 |
sykes seafood limited Credit Report and Business Information
Sykes Seafood Limited Competitor Analysis
Perform a competitor analysis for sykes seafood limited by selecting its closest rivals, whether from the WHOLESALE AND RETAIL TRADE; REPAIR OF MOTOR VEHICLES AND MOTORCYCLES sector, other mega companies, companies in WA5 area or any other competitors across 12 key performance metrics.
sykes seafood limited Ownership
SYKES SEAFOOD LIMITED group structure
Sykes Seafood Limited has no subsidiary companies.
Ultimate parent company
2 parents
SYKES SEAFOOD LIMITED
02289318
sykes seafood limited directors
Sykes Seafood Limited currently has 3 directors. The longest serving directors include Mr Alan Dale (May 2014) and Mr Daniel Wright (Jan 2015).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Alan Dale | England | 44 years | May 2014 | - | Director |
| Mr Daniel Wright | England | 44 years | Jan 2015 | - | Director |
| Mr David Samwell | England | 49 years | May 2015 | - | Director |
P&L
April 2023turnover
165.6m
+42%
operating profit
4.4m
-24%
gross margin
15.1%
-10.44%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
April 2023net assets
11.5m
+0.2%
total assets
76m
+0.01%
cash
5.7m
+0.64%
net assets
Total assets minus all liabilities
sykes seafood limited company details
company number
02289318
Type
Private limited with Share Capital
industry
47230 - Retail sale of fish, crustaceans and molluscs in specialised stores
46380 - Wholesale of other food, including fish, crustaceans and molluscs
incorporation date
August 1988
age
36
incorporated
UK
accounts
Full Accounts
ultimate parent company
previous names
j sykes & sons (manchester) limited (November 2019)
j. sykes & sons (fish merchants) limited (April 1998)
See morelast accounts submitted
April 2023
address
unit 1 omega boulevard, warrington, WA5 3ZL
accountant
-
auditor
BDO LLP
sykes seafood 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 20 charges/mortgages relating to sykes seafood limited. Currently there are 11 open charges and 9 have been satisfied in the past.
sykes seafood limited Companies House Filings - See Documents
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