evolving systems limited
evolving systems limited Company Information
Company Number
02325854
Next Accounts
26 days late
Industry
Other telecommunications activities
Shareholders
-
Group Structure
View All
Contact
Registered Address
4th floor 2 city approach, albert street, manchester, M30 0BL
Website
www.evolving.comevolving systems limited Estimated Valuation
Pomanda estimates the enterprise value of EVOLVING SYSTEMS LIMITED at £16.5m based on a Turnover of £12.7m and 1.3x industry multiple (adjusted for size and gross margin).
evolving systems limited Estimated Valuation
Pomanda estimates the enterprise value of EVOLVING SYSTEMS LIMITED at £20.6m based on an EBITDA of £3.5m and a 5.85x industry multiple (adjusted for size and gross margin).
evolving systems limited Estimated Valuation
Pomanda estimates the enterprise value of EVOLVING SYSTEMS LIMITED at £19.2m based on Net Assets of £7.6m and 2.53x industry multiple (adjusted for liquidity).
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Evolving Systems Limited Overview
Evolving Systems Limited is a live company located in manchester, M30 0BL with a Companies House number of 02325854. It operates in the other telecommunications activities sector, SIC Code 61900. Founded in December 1988, it's largest shareholder is unknown. Evolving Systems Limited is a mature, mid sized company, Pomanda has estimated its turnover at £12.7m with declining growth in recent years.
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Evolving Systems Limited Health Check
Pomanda's financial health check has awarded Evolving Systems Limited a 4.5 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
2 Regular
5 Weak
Size
annual sales of £12.7m, make it in line with the average company (£12.1m)
£12.7m - Evolving Systems Limited
£12.1m - Industry AVG
Growth
3 year (CAGR) sales growth of -1%, show it is growing at a slower rate (3.6%)
-1% - Evolving Systems Limited
3.6% - Industry AVG
Production
with a gross margin of 56.9%, this company has a lower cost of product (37.9%)
56.9% - Evolving Systems Limited
37.9% - Industry AVG
Profitability
an operating margin of 27.6% make it more profitable than the average company (4.6%)
27.6% - Evolving Systems Limited
4.6% - Industry AVG
Employees
with 21 employees, this is below the industry average (51)
21 - Evolving Systems Limited
51 - Industry AVG
Pay Structure
on an average salary of £127.9k, the company has a higher pay structure (£61k)
£127.9k - Evolving Systems Limited
£61k - Industry AVG
Efficiency
resulting in sales per employee of £605.3k, this is more efficient (£227.9k)
£605.3k - Evolving Systems Limited
£227.9k - Industry AVG
Debtor Days
it gets paid by customers after 69 days, this is later than average (41 days)
69 days - Evolving Systems Limited
41 days - Industry AVG
Creditor Days
its suppliers are paid after 12 days, this is quicker than average (44 days)
12 days - Evolving Systems Limited
44 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Evolving Systems Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 11 weeks, this is average cash available to meet short term requirements (10 weeks)
11 weeks - Evolving Systems Limited
10 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 54%, this is a lower level of debt than the average (63.6%)
54% - Evolving Systems Limited
63.6% - Industry AVG
EVOLVING SYSTEMS LIMITED financials
Evolving Systems Limited's latest turnover from March 2023 is £12.7 million and the company has net assets of £7.6 million. According to their latest financial statements, Evolving Systems Limited has 21 employees and maintains cash reserves of £1.9 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Mar 2023 | Mar 2022 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 12,711,000 | 16,151,000 | 13,215,000 | 11,900,000 | 12,511,000 | 14,809,000 | 14,850,000 | 13,886,000 | 16,033,000 | 14,671,000 | 13,062,000 | 10,277,000 | 13,924,000 | 14,398,000 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 5,481,000 | 9,347,000 | 3,002,000 | 2,918,000 | 1,782,000 | 3,034,000 | 3,981,000 | 4,030,000 | 4,570,000 | 4,682,000 | 4,311,000 | 4,686,000 | 5,917,000 | 5,609,000 |
| Gross Profit | 7,230,000 | 6,804,000 | 10,213,000 | 8,982,000 | 10,729,000 | 11,775,000 | 10,869,000 | 9,856,000 | 11,463,000 | 9,989,000 | 8,751,000 | 5,591,000 | 8,007,000 | 8,789,000 |
| Admin Expenses | 3,726,000 | 5,145,000 | 8,981,000 | 9,181,000 | 8,100,000 | 6,956,000 | 5,361,000 | 6,423,000 | 5,920,000 | 6,090,000 | 5,966,000 | 5,530,000 | 5,647,000 | 6,231,000 |
| Operating Profit | 3,504,000 | 1,659,000 | 1,232,000 | -199,000 | 2,629,000 | 4,819,000 | 5,508,000 | 3,433,000 | 5,543,000 | 3,899,000 | 2,785,000 | 61,000 | 2,360,000 | 2,558,000 |
| Interest Payable | 46,000 | 2,000 | 0 | 0 | 0 | 0 | 4,000 | 24,000 | 29,000 | 31,000 | 86,000 | 93,000 | 111,000 | 51,000 |
| Interest Receivable | 2,000 | 0 | 1,000 | 4,000 | 4,000 | 2,000 | 3,000 | 8,000 | 8,000 | 4,000 | 9,000 | 14,000 | 6,000 | 15,000 |
| Pre-Tax Profit | 3,460,000 | 1,657,000 | 1,233,000 | -195,000 | 2,633,000 | 4,821,000 | 5,507,000 | 3,417,000 | 5,522,000 | 3,872,000 | 2,708,000 | 1,104,000 | 2,255,000 | 2,522,000 |
| Tax | -464,000 | -335,000 | -362,000 | -118,000 | -68,000 | -810,000 | -930,000 | -518,000 | -881,000 | -507,000 | -350,000 | -263,000 | -392,000 | -369,000 |
| Profit After Tax | 2,996,000 | 1,322,000 | 871,000 | -313,000 | 2,565,000 | 4,011,000 | 4,577,000 | 2,899,000 | 4,641,000 | 3,365,000 | 2,358,000 | 841,000 | 1,863,000 | 2,153,000 |
| Dividends Paid | 0 | 0 | 0 | 0 | 5,278,000 | 2,600,000 | 4,893,000 | 5,014,000 | 2,755,000 | 1,600,000 | 2,364,000 | 1,497,000 | 760,000 | 2,925,000 |
| Retained Profit | 2,996,000 | 1,322,000 | 871,000 | -313,000 | -2,713,000 | 1,411,000 | -316,000 | -2,115,000 | 1,886,000 | 1,765,000 | -6,000 | -656,000 | 1,103,000 | -772,000 |
| Employee Costs | 2,685,000 | 3,478,000 | 2,682,000 | 2,638,000 | 1,797,000 | 1,661,000 | 2,242,000 | 3,308,000 | 3,503,000 | 4,297,000 | 4,597,000 | 5,013,000 | 5,598,000 | 5,821,000 |
| Number Of Employees | 21 | 22 | 25 | 18 | 18 | 20 | 25 | 46 | 47 | 57 | 57 | 62 | 73 | 70 |
| EBITDA* | 3,520,000 | 1,712,000 | 1,264,000 | -163,000 | 2,644,000 | 4,851,000 | 5,568,000 | 3,518,000 | 5,616,000 | 3,947,000 | 2,867,000 | 159,000 | 2,470,000 | 2,652,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Mar 2023 | Mar 2022 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 19,000 | 29,000 | 78,000 | 70,000 | 70,000 | 42,000 | 72,000 | 128,000 | 114,000 | 88,000 | 80,000 | 129,000 | 206,000 | 185,000 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments & Other | 0 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 48,000 |
| Total Fixed Assets | 19,000 | 45,000 | 94,000 | 86,000 | 86,000 | 58,000 | 88,000 | 144,000 | 130,000 | 104,000 | 96,000 | 145,000 | 222,000 | 249,000 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 2,406,000 | 3,671,000 | 3,614,000 | 2,859,000 | 4,636,000 | 6,586,000 | 6,655,000 | 6,221,000 | 8,240,000 | 5,050,000 | 3,997,000 | 3,351,000 | 4,447,000 | 3,462,000 |
| Group Debtors | 10,078,000 | 18,475,000 | 13,517,000 | 16,207,000 | 5,362,000 | 1,312,000 | 0 | 0 | 0 | 0 | 0 | 1,037,000 | 199,000 | 488,000 |
| Misc Debtors | 2,101,000 | 1,176,000 | 705,000 | 1,091,000 | 669,000 | 179,000 | 247,000 | 341,000 | 377,000 | 457,000 | 499,000 | 672,000 | 574,000 | 859,000 |
| Cash | 1,914,000 | 1,689,000 | 451,000 | 369,000 | 1,384,000 | 1,468,000 | 2,811,000 | 1,999,000 | 3,204,000 | 4,284,000 | 2,445,000 | 2,902,000 | 3,629,000 | 2,072,000 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 16,499,000 | 25,011,000 | 18,287,000 | 20,526,000 | 12,051,000 | 9,545,000 | 9,713,000 | 8,561,000 | 11,821,000 | 9,791,000 | 6,941,000 | 7,962,000 | 8,849,000 | 6,881,000 |
| total assets | 16,518,000 | 25,056,000 | 18,381,000 | 20,612,000 | 12,137,000 | 9,603,000 | 9,801,000 | 8,705,000 | 11,951,000 | 9,895,000 | 7,037,000 | 8,107,000 | 9,071,000 | 7,130,000 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 193,000 | 431,000 | 145,000 | 173,000 | 246,000 | 291,000 | 95,000 | 114,000 | 191,000 | 315,000 | 185,000 | 184,000 | 250,000 | 472,000 |
| Group/Directors Accounts | 4,056,000 | 14,304,000 | 11,666,000 | 14,554,000 | 5,330,000 | 0 | 960,000 | 1,161,000 | 429,000 | 288,000 | 355,000 | 0 | 0 | 0 |
| other short term finances | 0 | 0 | 0 | 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 | 0 | 0 | 0 |
| other current liabilities | 4,677,000 | 4,871,000 | 2,474,000 | 2,714,000 | 3,134,000 | 3,239,000 | 4,128,000 | 2,541,000 | 3,573,000 | 3,500,000 | 2,508,000 | 2,367,000 | 2,655,000 | 3,212,000 |
| total current liabilities | 8,926,000 | 19,606,000 | 14,285,000 | 17,441,000 | 8,710,000 | 3,530,000 | 5,183,000 | 3,816,000 | 4,193,000 | 4,103,000 | 3,048,000 | 2,551,000 | 2,905,000 | 3,684,000 |
| loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 817,000 | 780,000 | 786,000 | 2,384,000 | 2,421,000 | 942,000 |
| hp & lease commitments | 0 | 0 | 0 | 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 | 0 | 0 | 0 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 817,000 | 780,000 | 786,000 | 2,384,000 | 2,421,000 | 942,000 |
| total liabilities | 8,926,000 | 19,606,000 | 14,285,000 | 17,441,000 | 8,710,000 | 3,530,000 | 5,183,000 | 3,816,000 | 5,010,000 | 4,883,000 | 3,834,000 | 4,935,000 | 5,326,000 | 4,626,000 |
| net assets | 7,592,000 | 5,450,000 | 4,096,000 | 3,171,000 | 3,427,000 | 6,073,000 | 4,618,000 | 4,889,000 | 6,941,000 | 5,012,000 | 3,203,000 | 3,172,000 | 3,745,000 | 2,504,000 |
| total shareholders funds | 7,592,000 | 5,450,000 | 4,096,000 | 3,171,000 | 3,427,000 | 6,073,000 | 4,618,000 | 4,889,000 | 6,941,000 | 5,012,000 | 3,203,000 | 3,172,000 | 3,745,000 | 2,504,000 |
| Mar 2023 | Mar 2022 | Dec 2020 | 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 | 3,504,000 | 1,659,000 | 1,232,000 | -199,000 | 2,629,000 | 4,819,000 | 5,508,000 | 3,433,000 | 5,543,000 | 3,899,000 | 2,785,000 | 61,000 | 2,360,000 | 2,558,000 |
| Depreciation | 16,000 | 53,000 | 32,000 | 36,000 | 15,000 | 32,000 | 60,000 | 85,000 | 73,000 | 48,000 | 82,000 | 98,000 | 110,000 | 94,000 |
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tax | -464,000 | -335,000 | -362,000 | -118,000 | -68,000 | -810,000 | -930,000 | -518,000 | -881,000 | -507,000 | -350,000 | -263,000 | -392,000 | -369,000 |
| Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors | -8,737,000 | 23,322,000 | -2,321,000 | 9,490,000 | 2,590,000 | 1,175,000 | 340,000 | -2,055,000 | 3,110,000 | 1,011,000 | -564,000 | -160,000 | 363,000 | 4,857,000 |
| Creditors | -238,000 | 431,000 | -28,000 | -73,000 | -45,000 | 196,000 | -19,000 | -77,000 | -124,000 | 130,000 | 1,000 | -66,000 | -222,000 | 472,000 |
| Accruals and Deferred Income | -194,000 | 4,871,000 | -240,000 | -420,000 | -105,000 | -889,000 | 1,587,000 | -1,032,000 | 73,000 | 992,000 | 141,000 | -288,000 | -557,000 | 3,212,000 |
| Deferred Taxes & Provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow from operations | 11,361,000 | -16,643,000 | 2,955,000 | -10,264,000 | -164,000 | 2,173,000 | 5,866,000 | 3,946,000 | 1,574,000 | 3,551,000 | 3,223,000 | -298,000 | 936,000 | 1,110,000 |
| Investing Activities | ||||||||||||||
| capital expenditure | -4,000 | -99,000 | -99,000 | |||||||||||
| Change in Investments | -16,000 | 16,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16,000 |
| cash flow from investments | -4,000 | -99,000 | -99,000 | |||||||||||
| Financing Activities | ||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | -10,248,000 | 14,304,000 | -2,888,000 | 9,224,000 | 5,330,000 | -960,000 | -201,000 | 732,000 | 141,000 | -67,000 | 355,000 | 0 | 0 | 0 |
| Other Short Term Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -817,000 | 37,000 | -6,000 | -1,598,000 | -37,000 | 1,479,000 | 942,000 |
| Hire Purchase and Lease Commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| share issue | ||||||||||||||
| interest | -44,000 | -2,000 | 1,000 | 4,000 | 4,000 | 2,000 | -1,000 | -16,000 | -21,000 | -27,000 | -77,000 | -79,000 | -105,000 | -36,000 |
| cash flow from financing | -11,146,000 | 18,430,000 | -2,833,000 | 9,285,000 | 5,401,000 | -914,000 | -157,000 | -38,000 | 200,000 | -56,000 | -1,283,000 | -33,000 | 1,512,000 | 4,182,000 |
| cash and cash equivalents | ||||||||||||||
| cash | 225,000 | 1,689,000 | 82,000 | -1,015,000 | -84,000 | -1,343,000 | 812,000 | -1,205,000 | -1,080,000 | 1,839,000 | -457,000 | -727,000 | 1,557,000 | 2,072,000 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | 225,000 | 1,689,000 | 82,000 | -1,015,000 | -84,000 | -1,343,000 | 812,000 | -1,205,000 | -1,080,000 | 1,839,000 | -457,000 | -727,000 | 1,557,000 | 2,072,000 |
evolving systems limited Credit Report and Business Information
Evolving Systems Limited Competitor Analysis
Perform a competitor analysis for evolving systems limited by selecting its closest rivals, whether from the INFORMATION AND COMMUNICATION sector, other mid companies, companies in M30 area or any other competitors across 12 key performance metrics.
evolving systems limited Ownership
EVOLVING SYSTEMS LIMITED group structure
Evolving Systems Limited has no subsidiary companies.
Ultimate parent company
PARTNER ONE SOFTWARE INC
#0111261
2 parents
EVOLVING SYSTEMS LIMITED
02325854
evolving systems limited directors
Evolving Systems Limited currently has 6 directors. The longest serving directors include Mr Jonathan Dionne (Dec 2021) and Mr Jonathan Dionne (Dec 2021).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Jonathan Dionne | England | 46 years | Dec 2021 | - | Director |
| Mr Jonathan Dionne | England | 46 years | Dec 2021 | - | Director |
| Mr Dan Charron | England | 45 years | Dec 2021 | - | Director |
| Mr Karl Gilbank | England | 50 years | Dec 2021 | - | Director |
| Mr Dan Charron | England | 45 years | Dec 2021 | - | Director |
| Mr Eric Hatton | England | 49 years | Jan 2022 | - | Director |
P&L
March 2023turnover
12.7m
-21%
operating profit
3.5m
+111%
gross margin
56.9%
+35.02%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
March 2023net assets
7.6m
+0.39%
total assets
16.5m
-0.34%
cash
1.9m
+0.13%
net assets
Total assets minus all liabilities
Similar Companies
evolving systems limited company details
company number
02325854
Type
Private limited with Share Capital
industry
61900 - Other telecommunications activities
incorporation date
December 1988
age
37
incorporated
UK
ultimate parent company
accounts
Audit Exemption Subsidiary
last accounts submitted
March 2023
previous names
tertio telecoms limited (January 2005)
tertio limited (June 2002)
accountant
EVELYN PARTNERS LLP
auditor
-
address
4th floor 2 city approach, albert street, manchester, M30 0BL
Bank
LLOYDS TSB BANK PLC
Legal Advisor
-
evolving systems 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 10 charges/mortgages relating to evolving systems limited. Currently there are 3 open charges and 7 have been satisfied in the past.
evolving systems limited Capital Raised & Share Issues BETA
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evolving systems limited Companies House Filings - See Documents
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