Watertite Heating Limited

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watertite heating limited Company Information

Company Number

02335007

Next Accounts

Sep 2025

Directors

Charles Lowe

William Scott

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Shareholders

andwis group limited

Group Structure

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Industry

Plumbing, heat and air-conditioning installation

Registered Address

bartlett court sea king road, lynx trading estate, yeovil, somerset, BA20 2NZ

Website

www.watertiteheating.co.uk

watertite heating limited Estimated Valuation

£5.7m

Pomanda estimates the enterprise value of WATERTITE HEATING LIMITED at £5.7m based on Net Assets of £2m and 2.83x industry multiple (adjusted for liquidity).

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Watertite Heating Limited is a live company located in yeovil, BA20 2NZ with a Companies House number of 02335007. It operates in the plumbing, heat and air-conditioning installation sector, SIC Code 43220. Founded in January 1989, it's largest shareholder is andwis group limited with a 100% stake. Watertite Heating Limited is a mature, small sized company, Pomanda has estimated its turnover at £2.6m with low growth in recent years.

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Pomanda's financial health check has awarded Watertite Heating Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 3 areas for improvement. Company Health Check FAQs

Health Rating4.5out of 5

7 Strong

2 Regular

3 Weak

Size

annual sales of £3.2m, make it larger than the average company (£415.2k)

Growth

3 year (CAGR) sales growth of 7%, show it is growing at a similar rate (7%)

EXPORT

Watertite Heating Limited's latest turnover from December 2023 is estimated at £2.6 million and the company has net assets of £2 million. According to their latest financial statements, Watertite Heating Limited has 53 employees and maintains cash reserves of £343.6 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Dec 2023	Jul 2023	Jul 2022	Jul 2021	Jul 2020	Jul 2019	Jul 2018	Jul 2017	Jul 2016	Jul 2015	Jul 2014	Jul 2013	Jul 2012	Jul 2011	Jul 2010	Jul 2009
Turnover	2,631,956	3,172,139	2,338,131	2,824,918	2,590,507	2,343,440	3,087,416	3,028,004	2,842,149	6,718,039	5,427,406	6,588,993	5,287,389	4,320,941	3,733,458
Other Income Or Grants
Cost Of Sales	2,164,941	2,619,398	1,914,732	2,339,420	2,104,251	1,902,441	2,454,567	2,359,368	2,236,970	5,256,260	4,220,093	5,086,874	3,999,837	3,207,589	2,713,500
Gross Profit	467,014	552,741	423,399	485,497	486,257	440,999	632,849	668,635	605,179	1,461,779	1,207,312	1,502,119	1,287,552	1,113,351	1,019,957
Admin Expenses	-300,074	36,872	142,510	132,376	416,966	430,493	653,710	286,765	622,769	1,446,802	1,036,373	1,522,563	1,064,921	1,052,091	921,131	-113,353
Operating Profit	767,088	515,869	280,889	353,121	69,291	10,506	-20,861	381,870	-17,590	14,977	170,939	-20,444	222,631	61,260	98,826	113,353
Interest Payable	12,943	22,000	18,850	17,995	9,150
Interest Receivable	41,083	70,757	14,307	945	534	1,756	1,691	1,076	1,121	402	1,019	1,188	1,082	896	630	350
Pre-Tax Profit	795,228	564,627	276,346	336,070	60,675	12,262	-19,170	382,946	-16,469	15,379	171,958	-19,256	223,713	62,157	99,456	113,703
Tax	-198,807	-141,157	-52,506	-63,853	-11,528	-2,330		-72,760		-3,076	-36,111		-53,691	-16,161	-27,848	-31,837
Profit After Tax	596,421	423,470	223,840	272,217	49,147	9,932	-19,170	310,186	-16,469	12,303	135,847	-19,256	170,022	45,996	71,608	81,866
Dividends Paid
Retained Profit	596,421	423,470	223,840	272,217	49,147	9,932	-19,170	310,186	-16,469	12,303	135,847	-19,256	170,022	45,996	71,608	81,866
Employee Costs	1,872,117	1,639,405	1,679,973	1,716,477	1,594,186	1,729,859	1,792,204	1,878,467	1,902,011	875,134	772,524	979,866	823,983	798,074	674,896
Number Of Employees	53	51	51	52	48	52	52	58	53	25	22	27	24	23	21
EBITDA*	773,252	531,592	293,016	361,642	78,321	19,936	-8,712	393,522	1,054	39,251	194,923	4,908	242,524	76,370	113,152	129,953

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2023	Jul 2023	Jul 2022	Jul 2021	Jul 2020	Jul 2019	Jul 2018	Jul 2017	Jul 2016	Jul 2015	Jul 2014	Jul 2013	Jul 2012	Jul 2011	Jul 2010	Jul 2009
Tangible Assets	64,305	66,694	77,631	43,722	23,340	38,399	38,220	36,561	57,926	75,151	74,643	78,915	62,705	47,270	44,523	51,582
Intangible Assets
Investments & Other
Debtors (Due After 1 year)
Total Fixed Assets	64,305	66,694	77,631	43,722	23,340	38,399	38,220	36,561	57,926	75,151	74,643	78,915	62,705	47,270	44,523	51,582
Stock & work in progress	61,300	61,300	64,961	53,670	20,000	32,279	31,279
Trade Debtors	436,991	812,023	658,668	839,079	609,268	492,718	736,945	730,838	585,502	1,720,756	1,437,208	1,524,155	1,267,478	1,066,663	902,671	862,779
Group Debtors
Misc Debtors	2,721,292	944,752	863,395	631,742	948,855	1,078,143	1,391,501	840,879	787,636
Cash	343,623	1,608,863	1,221,431	1,067,617	822,121	246,175	222,123	454,124	406,516	41,903	118,853	288,644	186,374	246,453	112,095	139,862
misc current assets
total current assets	3,563,206	3,426,938	2,808,455	2,592,108	2,400,244	1,849,315	2,381,848	2,025,841	1,779,654	1,762,659	1,556,061	1,812,799	1,453,852	1,313,116	1,014,766	1,002,641
total assets	3,627,511	3,493,632	2,886,086	2,635,830	2,423,584	1,887,714	2,420,068	2,062,402	1,837,580	1,837,810	1,630,704	1,891,714	1,516,557	1,360,386	1,059,289	1,054,223
Bank overdraft
Bank loan	100	60,000	60,000	60,000	15,000
Trade Creditors	820,445	855,767	494,606	867,766	833,863	680,933	1,001,808	588,170	573,093	1,323,668	1,128,657	1,526,805	1,134,081	972,382	719,277	780,468
Group/Directors Accounts																3,524
other short term finances
hp & lease commitments
other current liabilities	763,686	699,446	814,822	365,940	452,974	416,232	531,076	513,906	550,410
total current liabilities	1,584,231	1,615,213	1,369,428	1,293,706	1,301,837	1,097,165	1,532,884	1,102,076	1,123,503	1,323,668	1,128,657	1,526,805	1,134,081	972,382	719,277	783,992
loans		110,000	170,000	230,000	285,000
hp & lease commitments
Accruals and Deferred Income
other liabilities							106,150	158,538	220,000
provisions	12,190	15,280	16,989	6,295	3,135	6,084	6,501	8,085	10,560	14,156	14,364	13,073	11,384	7,634	5,638	7,465
total long term liabilities	12,190	125,280	186,989	236,295	288,135	6,084	112,651	166,623	230,560	14,156	14,364	13,073	11,384	7,634	5,638	7,465
total liabilities	1,596,421	1,740,493	1,556,417	1,530,001	1,589,972	1,103,249	1,645,535	1,268,699	1,354,063	1,337,824	1,143,021	1,539,878	1,145,465	980,016	724,915	791,457
net assets	2,031,090	1,753,139	1,329,669	1,105,829	833,612	784,465	774,533	793,703	483,517	499,986	487,683	351,836	371,092	380,370	334,374	262,766
total shareholders funds	2,031,090	1,753,139	1,329,669	1,105,829	833,612	784,465	774,533	793,703	483,517	499,986	487,683	351,836	371,092	380,370	334,374	262,766

	Dec 2023	Jul 2023	Jul 2022	Jul 2021	Jul 2020	Jul 2019	Jul 2018	Jul 2017	Jul 2016	Jul 2015	Jul 2014	Jul 2013	Jul 2012	Jul 2011	Jul 2010	Jul 2009
Operating Activities
Operating Profit	767,088	515,869	280,889	353,121	69,291	10,506	-20,861	381,870	-17,590	14,977	170,939	-20,444	222,631	61,260	98,826	113,353
Depreciation	6,164	15,723	12,127	8,521	9,030	9,430	12,149	11,652	18,644	24,274	23,984	25,352	19,893	15,110	14,326	16,600
Amortisation
Tax	-198,807	-141,157	-52,506	-63,853	-11,528	-2,330		-72,760		-3,076	-36,111		-53,691	-16,161	-27,848	-31,837
Stock	-3,661	-3,661	11,291	33,670	-12,279	1,000	31,279
Debtors	1,636,220	234,712	51,242	-87,302	-12,738	-557,585	556,729	198,579	-347,618	283,548	-86,947	256,677	200,815	163,992	39,892	862,779
Creditors	325,839	361,161	-373,160	33,903	152,930	-320,875	413,638	15,077	-750,575	195,011	-398,148	392,724	161,699	253,105	-61,191	780,468
Accruals and Deferred Income	-51,136	-115,376	448,882	-87,034	36,742	-114,844	17,170	-36,504	550,410
Deferred Taxes & Provisions	-4,799	-1,709	10,694	3,160	-2,949	-417	-1,584	-2,475	-3,596	-208	1,291	1,689	3,750	1,996	-1,827	7,465
Cash flow from operations	-788,210	403,460	264,393	301,450	278,533	138,055	-167,496	98,281	144,911	-52,570	-151,098	142,644	153,467	151,318	-17,606	23,270
Investing Activities
capital expenditure	7,162	-4,786	-46,036	-28,903	6,029	-9,609	-13,808	9,713	-1,419	-24,782	-19,712	-41,562	-35,328	-17,857	-7,267	-68,182
Change in Investments
cash flow from investments	7,162	-4,786	-46,036	-28,903	6,029	-9,609	-13,808	9,713	-1,419	-24,782	-19,712	-41,562	-35,328	-17,857	-7,267	-68,182
Financing Activities
Bank loans	-59,900			45,000	15,000
Group/Directors Accounts															-3,524	3,524
Other Short Term Loans
Long term loans	-170,000	-60,000	-60,000	-55,000	285,000
Hire Purchase and Lease Commitments
other long term liabilities						-106,150	-52,388	-61,462	220,000
share issue	105,000												-179,300			180,900
interest	28,140	48,757	-4,543	-17,050	-8,616	1,756	1,691	1,076	1,121	402	1,019	1,188	1,082	896	630	350
cash flow from financing	-96,760	-11,243	-64,543	-27,050	291,384	-104,394	-50,697	-60,386	221,121	402	1,019	1,188	-178,218	896	-2,894	184,774
cash and cash equivalents
cash	-877,808	387,432	153,814	245,496	575,946	24,052	-232,001	47,608	364,613	-76,950	-169,791	102,270	-60,079	134,358	-27,767	139,862
overdraft
change in cash	-877,808	387,432	153,814	245,496	575,946	24,052	-232,001	47,608	364,613	-76,950	-169,791	102,270	-60,079	134,358	-27,767	139,862

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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WATERTITE HEATING LIMITED group structure

Watertite Heating Limited has no subsidiary companies.

Ultimate parent company

CARP TOPCO LIMITED

14275905

ANDWIS GROUP LIMITED

14276678

2 parents

WATERTITE HEATING LIMITED

02335007

WATERTITE HEATING LIMITED Shareholders

andwis group limited

100%

Watertite Heating Limited currently has 4 directors. The longest serving directors include Mr Charles Lowe (Nov 2023) and Mr William Scott (Nov 2023).

officer	country	age	start	end	role
Mr Charles Lowe	England	41 years	Nov 2023	-	Director
Mr William Scott		39 years	Nov 2023	-	Director
Miss Donna Harry		46 years	Jan 2025	-	Director
Mr Alistair Morgan	England	54 years	Jan 2025	-	Director

P&L

December 2023

turnover

2.6m

+13%

operating profit

767.1k

gross margin

17.8%

-2.01%

turnover

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

Balance Sheet

December 2023

net assets

+0.53%

total assets

3.6m

+0.26%

cash

343.6k

-0.72%

net assets

Total assets minus all liabilities

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company number

02335007

Type

Private limited with Share Capital

industry

43220 - Plumbing, heat and air-conditioning installation

incorporation date

January 1989

ultimate parent company

CARP TOPCO LIMITED

previous names

armtex builders limited (August 1990)

address

bartlett court sea king road, lynx trading estate, yeovil, somerset, BA20 2NZ

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 6 charges/mortgages relating to watertite heating limited. Currently there are 1 open charges and 5 have been satisfied in the past.

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watertite heating limited Company Information

watertite heating limited Estimated Valuation

watertite heating limited Estimated Valuation

watertite heating limited Estimated Valuation

Watertite Heating Limited Overview

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WATERTITE HEATING LIMITED financials

watertite heating limited Credit Report and Business Information

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