midland expressway limited
midland expressway limited Company Information
Company Number
02309767
Next Accounts
Sep 2025
Shareholders
midland motorways group ltd
Group Structure
View All
Industry
Freight transport by road
+1Registered Address
operations centre, express way, weeford lichfield, staffordshire, WS14 0PQ
Website
http://m6toll.co.ukmidland expressway limited Estimated Valuation
Pomanda estimates the enterprise value of MIDLAND EXPRESSWAY LIMITED at £129.3m based on a Turnover of £134.9m and 0.96x industry multiple (adjusted for size and gross margin).
midland expressway limited Estimated Valuation
Pomanda estimates the enterprise value of MIDLAND EXPRESSWAY LIMITED at £947.2m based on an EBITDA of £120.1m and a 7.89x industry multiple (adjusted for size and gross margin).
midland expressway limited Estimated Valuation
Pomanda estimates the enterprise value of MIDLAND EXPRESSWAY LIMITED at £0 based on Net Assets of £-220m and 2.39x industry multiple (adjusted for liquidity).
Edit your figures and get a professional valuation report.
Midland Expressway Limited Overview
Midland Expressway Limited is a live company located in weeford lichfield, WS14 0PQ with a Companies House number of 02309767. It operates in the other passenger land transport sector, SIC Code 49390. Founded in October 1988, it's largest shareholder is midland motorways group ltd with a 100% stake. Midland Expressway Limited is a mature, mega sized company, Pomanda has estimated its turnover at £134.9m with rapid growth in recent years.
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Midland Expressway Limited Health Check
Pomanda's financial health check has awarded Midland Expressway Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 4 areas for improvement. Company Health Check FAQs
7 Strong
1 Regular
4 Weak
Size
annual sales of £134.9m, make it larger than the average company (£6m)
£134.9m - Midland Expressway Limited
£6m - Industry AVG
Growth
3 year (CAGR) sales growth of 36%, show it is growing at a faster rate (7.3%)
36% - Midland Expressway Limited
7.3% - Industry AVG
Production
with a gross margin of 24.6%, this company has a comparable cost of product (24.6%)
24.6% - Midland Expressway Limited
24.6% - Industry AVG
Profitability
an operating margin of 77.4% make it more profitable than the average company (6.3%)
77.4% - Midland Expressway Limited
6.3% - Industry AVG
Employees
with 137 employees, this is above the industry average (49)
137 - Midland Expressway Limited
49 - Industry AVG
Pay Structure
on an average salary of £47.6k, the company has a higher pay structure (£34k)
£47.6k - Midland Expressway Limited
£34k - Industry AVG
Efficiency
resulting in sales per employee of £984.7k, this is more efficient (£105.8k)
£984.7k - Midland Expressway Limited
£105.8k - Industry AVG
Debtor Days
it gets paid by customers after 5 days, this is earlier than average (37 days)
5 days - Midland Expressway Limited
37 days - Industry AVG
Creditor Days
its suppliers are paid after 2 days, this is quicker than average (24 days)
2 days - Midland Expressway Limited
24 days - Industry AVG
Stock Days
it holds stock equivalent to 0 days, this is less than average (3 days)
0 days - Midland Expressway Limited
3 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 0 weeks, this is less cash available to meet short term requirements (32 weeks)
0 weeks - Midland Expressway Limited
32 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 135.7%, this is a higher level of debt than the average (50.1%)
135.7% - Midland Expressway Limited
50.1% - Industry AVG
MIDLAND EXPRESSWAY LIMITED financials
Midland Expressway Limited's latest turnover from December 2023 is £134.9 million and the company has net assets of -£220 million. According to their latest financial statements, Midland Expressway Limited has 137 employees and maintains cash reserves of £13.5 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 134,910,000 | 110,819,000 | 79,744,000 | 53,222,000 | 89,471,000 | 90,984,000 | 86,050,000 | 80,177,000 | 79,613,000 | 69,543,000 | 65,905,000 | 58,051,000 | 55,899,000 | 90,091,000 |
| Other Income Or Grants | 483,000 | 3,293,000 | ||||||||||||
| Cost Of Sales | ||||||||||||||
| Gross Profit | 53,705,000 | 92,764,000 | ||||||||||||
| Admin Expenses | 21,556,000 | 29,506,000 | ||||||||||||
| Operating Profit | 104,411,000 | 83,299,000 | 54,636,000 | 32,149,000 | 63,258,000 | 66,005,000 | 59,300,000 | 56,308,000 | 51,094,000 | 41,287,000 | 37,687,000 | 32,405,000 | 28,798,000 | 53,413,000 |
| Interest Payable | 75,726,000 | 77,259,000 | 76,664,000 | 74,292,000 | 73,716,000 | 74,265,000 | 76,758,000 | 71,740,000 | 69,554,000 | 70,021,000 | 70,329,000 | 69,272,000 | 70,561,000 | 102,649,000 |
| Interest Receivable | 1,047,000 | 283,000 | 8,000 | 58,000 | 99,000 | 68,000 | 71,000 | 103,000 | 100,000 | 123,000 | 141,000 | 133,000 | 107,000 | 115,000 |
| Pre-Tax Profit | 29,732,000 | 6,323,000 | -22,020,000 | -42,085,000 | -10,359,000 | -8,192,000 | -17,387,000 | -15,329,000 | -18,360,000 | -28,611,000 | -32,501,000 | -36,734,000 | -41,656,000 | -49,121,000 |
| Tax | -10,551,000 | 89,999,000 | -109,000 | |||||||||||
| Profit After Tax | 19,181,000 | 96,322,000 | -22,020,000 | -42,085,000 | -10,468,000 | -8,192,000 | -17,387,000 | -15,329,000 | -18,360,000 | -28,611,000 | -32,501,000 | -36,734,000 | -41,656,000 | -49,121,000 |
| Dividends Paid | ||||||||||||||
| Retained Profit | 19,181,000 | 96,322,000 | -22,020,000 | -42,085,000 | -10,468,000 | -8,192,000 | -17,387,000 | -15,329,000 | -18,360,000 | -28,611,000 | -32,501,000 | -36,734,000 | -41,656,000 | -49,121,000 |
| Employee Costs | 6,522,000 | 6,630,000 | 6,792,000 | 6,158,000 | 5,809,000 | 5,211,000 | 4,441,000 | 4,401,000 | 4,295,000 | 4,332,000 | 4,305,000 | 3,954,000 | 4,017,000 | 5,984,000 |
| Number Of Employees | 137 | 139 | 132 | 145 | 151 | 145 | 139 | 134 | 133 | 131 | 129 | 129 | 136 | 139 |
| EBITDA* | 120,098,000 | 98,378,000 | 67,943,000 | 43,406,000 | 81,612,000 | 84,224,000 | 76,671,000 | 72,733,000 | 72,487,000 | 62,879,000 | 58,842,000 | 51,752,000 | 50,600,000 | 82,280,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 510,078,000 | 519,022,000 | 527,212,000 | 540,400,000 | 550,904,000 | 564,083,000 | 574,067,000 | 584,838,000 | 596,437,000 | 610,926,000 | 628,663,000 | 648,256,000 | 665,628,000 | 685,752,000 |
| Intangible Assets | 5,718,000 | 4,324,000 | 1,448,000 | |||||||||||
| Investments & Other | 84,300,000 | 89,999,000 | ||||||||||||
| Debtors (Due After 1 year) | ||||||||||||||
| Total Fixed Assets | 600,096,000 | 613,345,000 | 528,660,000 | 540,400,000 | 550,904,000 | 564,083,000 | 574,067,000 | 584,838,000 | 596,437,000 | 610,926,000 | 628,663,000 | 648,256,000 | 665,628,000 | 685,752,000 |
| Stock & work in progress | 119,000 | 99,000 | 101,000 | 108,000 | 173,000 | 165,000 | ||||||||
| Trade Debtors | 2,187,000 | 2,068,000 | 1,791,000 | 748,000 | 1,486,000 | 1,442,000 | 1,489,000 | 1,132,000 | 475,000 | 486,000 | 495,000 | 1,099,000 | 231,000 | 241,000 |
| Group Debtors | 6,056,000 | 3,364,000 | ||||||||||||
| Misc Debtors | 911,000 | 1,098,000 | 256,000 | 200,000 | 180,000 | 534,000 | 934,000 | 642,000 | 636,000 | 540,000 | 562,000 | 558,000 | 602,000 | 641,000 |
| Cash | 13,548,000 | 6,292,000 | 7,337,000 | 4,156,000 | 4,013,000 | 3,981,000 | 5,261,000 | 25,957,000 | 2,810,000 | 3,963,000 | 2,311,000 | 1,117,000 | 2,100,000 | 3,786,000 |
| misc current assets | ||||||||||||||
| total current assets | 16,765,000 | 9,557,000 | 9,485,000 | 5,212,000 | 5,852,000 | 6,122,000 | 13,740,000 | 31,095,000 | 3,921,000 | 4,989,000 | 3,368,000 | 2,774,000 | 2,933,000 | 4,668,000 |
| total assets | 616,861,000 | 622,902,000 | 538,145,000 | 545,612,000 | 556,756,000 | 570,205,000 | 587,807,000 | 615,933,000 | 600,358,000 | 615,915,000 | 632,031,000 | 651,030,000 | 668,561,000 | 690,420,000 |
| Bank overdraft | ||||||||||||||
| Bank loan | ||||||||||||||
| Trade Creditors | 744,000 | 1,125,000 | 584,000 | 1,358,000 | 533,000 | 825,000 | 1,209,000 | 935,000 | 2,622,000 | 641,000 | 617,000 | 779,000 | 683,000 | 726,000 |
| Group/Directors Accounts | 729,644,000 | 729,644,000 | 729,644,000 | 714,266,000 | 685,692,000 | 685,692,000 | 685,916,000 | 659,831,000 | 631,194,000 | 631,194,000 | 622,122,000 | 611,781,000 | 597,067,000 | 584,479,000 |
| other short term finances | ||||||||||||||
| hp & lease commitments | 527,000 | 527,000 | 528,000 | 528,000 | 12,510,000 | 12,239,000 | 12,310,000 | 12,090,000 | 11,537,000 | 11,231,000 | 10,160,000 | |||
| other current liabilities | 18,665,000 | 13,506,000 | 13,612,000 | 13,136,000 | 11,094,000 | 9,982,000 | 8,384,000 | 7,645,000 | 6,394,000 | 6,110,000 | 4,963,000 | 5,192,000 | 4,530,000 | 5,014,000 |
| total current liabilities | 749,053,000 | 744,275,000 | 743,840,000 | 729,287,000 | 697,846,000 | 697,027,000 | 696,037,000 | 680,921,000 | 652,449,000 | 650,255,000 | 639,792,000 | 629,289,000 | 613,511,000 | 600,379,000 |
| loans | 87,800,000 | 117,800,000 | 129,800,000 | 129,800,000 | 130,300,000 | 134,100,000 | 144,500,000 | |||||||
| hp & lease commitments | 170,355,000 | 167,923,000 | 167,314,000 | 165,282,000 | 162,283,000 | 158,858,000 | 152,193,000 | |||||||
| Accruals and Deferred Income | ||||||||||||||
| other liabilities | ||||||||||||||
| provisions | ||||||||||||||
| total long term liabilities | 87,800,000 | 117,800,000 | 129,800,000 | 129,800,000 | 130,300,000 | 134,100,000 | 144,500,000 | 170,355,000 | 167,923,000 | 167,314,000 | 165,282,000 | 162,283,000 | 158,858,000 | 152,193,000 |
| total liabilities | 836,853,000 | 862,075,000 | 873,640,000 | 859,087,000 | 828,146,000 | 831,127,000 | 840,537,000 | 851,276,000 | 820,372,000 | 817,569,000 | 805,074,000 | 791,572,000 | 772,369,000 | 752,572,000 |
| net assets | -219,992,000 | -239,173,000 | -335,495,000 | -313,475,000 | -271,390,000 | -260,922,000 | -252,730,000 | -235,343,000 | -220,014,000 | -201,654,000 | -173,043,000 | -140,542,000 | -103,808,000 | -62,152,000 |
| total shareholders funds | -219,992,000 | -239,173,000 | -335,495,000 | -313,475,000 | -271,390,000 | -260,922,000 | -252,730,000 | -235,343,000 | -220,014,000 | -201,654,000 | -173,043,000 | -140,542,000 | -103,808,000 | -62,152,000 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||
| Operating Profit | 104,411,000 | 83,299,000 | 54,636,000 | 32,149,000 | 63,258,000 | 66,005,000 | 59,300,000 | 56,308,000 | 51,094,000 | 41,287,000 | 37,687,000 | 32,405,000 | 28,798,000 | 53,413,000 |
| Depreciation | 15,502,000 | 14,950,000 | 13,307,000 | 11,257,000 | 18,354,000 | 18,219,000 | 17,371,000 | 16,425,000 | 21,393,000 | 21,592,000 | 21,155,000 | 19,347,000 | 21,802,000 | 28,867,000 |
| Amortisation | 185,000 | 129,000 | ||||||||||||
| Tax | -10,551,000 | 89,999,000 | -109,000 | |||||||||||
| Stock | 20,000 | -2,000 | -7,000 | -65,000 | 8,000 | 165,000 | ||||||||
| Debtors | -68,000 | 1,119,000 | 1,099,000 | -718,000 | -310,000 | -6,503,000 | 3,341,000 | 4,027,000 | 85,000 | -31,000 | -600,000 | 824,000 | -49,000 | 882,000 |
| Creditors | -381,000 | 541,000 | -774,000 | 825,000 | -292,000 | -384,000 | 274,000 | -1,687,000 | 1,981,000 | 24,000 | -162,000 | 96,000 | -43,000 | 726,000 |
| Accruals and Deferred Income | 5,159,000 | -106,000 | 476,000 | 2,042,000 | 1,112,000 | 1,598,000 | 739,000 | 1,251,000 | 284,000 | 1,147,000 | -229,000 | 662,000 | -484,000 | 5,014,000 |
| Deferred Taxes & Provisions | ||||||||||||||
| Cash flow from operations | 114,373,000 | 187,695,000 | 66,553,000 | 47,056,000 | 82,625,000 | 91,776,000 | 74,343,000 | 68,270,000 | 74,667,000 | 64,081,000 | 59,051,000 | 51,686,000 | 50,122,000 | 87,138,000 |
| Investing Activities | ||||||||||||||
| capital expenditure | -2,354,000 | -1,128,000 | -1,047,000 | |||||||||||
| Change in Investments | -5,699,000 | 89,999,000 | ||||||||||||
| cash flow from investments | -2,354,000 | -1,128,000 | -1,047,000 | |||||||||||
| Financing Activities | ||||||||||||||
| Bank loans | ||||||||||||||
| Group/Directors Accounts | 15,378,000 | 28,574,000 | -224,000 | 26,085,000 | 28,637,000 | 9,072,000 | 10,341,000 | 14,714,000 | 12,588,000 | 584,479,000 | ||||
| Other Short Term Loans | ||||||||||||||
| Long term loans | -30,000,000 | -12,000,000 | -500,000 | -3,800,000 | -10,400,000 | 144,500,000 | ||||||||
| Hire Purchase and Lease Commitments | -527,000 | -1,000 | -182,337,000 | 2,703,000 | 538,000 | 2,252,000 | 3,552,000 | 3,731,000 | 7,736,000 | 162,353,000 | ||||
| other long term liabilities | ||||||||||||||
| share issue | ||||||||||||||
| interest | -74,679,000 | -76,976,000 | -76,656,000 | -74,234,000 | -73,617,000 | -74,197,000 | -76,687,000 | -71,637,000 | -69,454,000 | -69,898,000 | -70,188,000 | -69,139,000 | -70,454,000 | -102,534,000 |
| cash flow from financing | -104,679,000 | -88,976,000 | -61,805,000 | -46,160,000 | -77,418,000 | -84,821,000 | -88,439,000 | -40,297,000 | -68,916,000 | -58,574,000 | -56,295,000 | -50,694,000 | -50,130,000 | 631,267,000 |
| cash and cash equivalents | ||||||||||||||
| cash | 7,256,000 | -1,045,000 | 3,181,000 | 143,000 | 32,000 | -1,280,000 | -20,696,000 | 23,147,000 | -1,153,000 | 1,652,000 | 1,194,000 | -983,000 | -1,686,000 | 3,786,000 |
| overdraft | ||||||||||||||
| change in cash | 7,256,000 | -1,045,000 | 3,181,000 | 143,000 | 32,000 | -1,280,000 | -20,696,000 | 23,147,000 | -1,153,000 | 1,652,000 | 1,194,000 | -983,000 | -1,686,000 | 3,786,000 |
midland expressway limited Credit Report and Business Information
Midland Expressway Limited Competitor Analysis
Perform a competitor analysis for midland expressway limited by selecting its closest rivals, whether from the TRANSPORTATION AND STORAGE sector, other mega companies, companies in WS14 area or any other competitors across 12 key performance metrics.
midland expressway limited Ownership
MIDLAND EXPRESSWAY LIMITED group structure
Midland Expressway Limited has no subsidiary companies.
Ultimate parent company
STARLING INVESTMENTS LTD
#0124849
2 parents
MIDLAND EXPRESSWAY LIMITED
02309767
midland expressway limited directors
Midland Expressway Limited currently has 5 directors. The longest serving directors include Mr Richard Hughes (Jan 2009) and Mr Graham Parcell (Dec 2013).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Richard Hughes | Australia | 73 years | Jan 2009 | - | Director |
| Mr Graham Parcell | 68 years | Dec 2013 | - | Director | |
| Mr Kenneth Daley | United Kingdom | 75 years | Nov 2017 | - | Director |
| Mr Joaquin Gago De Pedro | United Kingdom | 44 years | Jan 2022 | - | Director |
| Mr Lee Belfield | England | 37 years | Jan 2023 | - | Director |
P&L
December 2023turnover
134.9m
+22%
operating profit
104.4m
+25%
gross margin
24.6%
+5.47%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
-220m
-0.08%
total assets
616.9m
-0.01%
cash
13.5m
+1.15%
net assets
Total assets minus all liabilities
Similar Companies
midland expressway limited company details
company number
02309767
Type
Private limited with Share Capital
industry
49410 - Freight transport by road
49390 - Other passenger land transport n.e.c.
incorporation date
October 1988
age
37
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
December 2023
previous names
spireshot limited (November 1990)
accountant
-
auditor
PRICEWATERHOUSECOOPERS LLP
address
operations centre, express way, weeford lichfield, staffordshire, WS14 0PQ
Bank
BARCLAYS BANK PLC
Legal Advisor
-
midland expressway 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 4 charges/mortgages relating to midland expressway limited. Currently there are 2 open charges and 2 have been satisfied in the past.
midland expressway 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 MIDLAND EXPRESSWAY LIMITED. This can take several minutes, an email will notify you when this has completed.
midland expressway limited Companies House Filings - See Documents
| date | description | view/download |
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