Cover Up Clothing Limited

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cover up clothing limited Company Information

Company Number

02562923

Next Accounts

582 days late

Directors

Rachel Heather

Tracy Green

Shareholders

rachel heather

tracey green

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Group Structure

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Industry

Manufacture of other wearing apparel and accessories

Registered Address

c/o begbies traynor (london) llp, 31st floor, london, E14 5NR

Website

www.coverupclothing.com

cover up clothing limited Estimated Valuation

£3.9m

Pomanda estimates the enterprise value of COVER UP CLOTHING LIMITED at £3.9m based on Net Assets of £1.5m and 2.66x industry multiple (adjusted for liquidity).

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Cover Up Clothing Limited is a live company located in london, E14 5NR with a Companies House number of 02562923. It operates in the manufacture of other wearing apparel and accessories n.e.c. sector, SIC Code 14190. Founded in November 1990, it's largest shareholder is rachel heather with a 65% stake. Cover Up Clothing Limited is a mature, mid sized company, Pomanda has estimated its turnover at £6.4m with declining growth in recent years.

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Pomanda's financial health check has awarded Cover Up Clothing Limited a 1.5 rating. We use a traffic light system to show it exceeds the industry average on 2 measures and has 8 areas for improvement. Company Health Check FAQs

Health Rating1.5out of 5

2 Strong

2 Regular

8 Weak

Size

annual sales of £6.4m, make it smaller than the average company (£9.9m)

Growth

3 year (CAGR) sales growth of -33%, show it is growing at a slower rate (-3.3%)

EXPORT

Cover Up Clothing Limited's latest turnover from November 2021 is estimated at £6.4 million and the company has net assets of £1.5 million. According to their latest financial statements, Cover Up Clothing Limited has 37 employees and maintains cash reserves of £128.3 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Nov 2021	Nov 2020	Nov 2019	Nov 2018	Nov 2017	Nov 2016	Nov 2015	Nov 2014	Nov 2013	Nov 2012	Nov 2011	Nov 2010	Nov 2009
Turnover	6,364,799	9,039,048	17,425,530	21,237,092	19,416,748	17,364,617	22,289,299	23,233,414	18,806,918	19,213,147	15,619,995	12,280,883
Other Income Or Grants
Cost Of Sales	4,340,620	7,470,857	13,937,940	17,190,876	16,643,089	15,013,725	19,080,104	15,843,612	12,856,559	16,556,286	13,336,825	7,951,881
Gross Profit	2,024,179	1,568,191	3,487,590	4,046,216	2,773,659	2,350,892	3,209,195	7,389,802	5,950,359	2,656,861	2,283,170	4,329,002
Admin Expenses	2,205,943	2,535,216	3,103,316	3,731,798	2,520,985	2,547,223	2,537,476	6,347,012	5,132,311	1,629,035	1,505,707	3,788,560	-1,610,831
Operating Profit	-181,764	-967,025	384,274	314,418	252,674	-196,331	671,719	1,042,790	818,048	1,027,826	777,463	540,442	1,610,831
Interest Payable	63,327	19,318	2,146
Interest Receivable	272		1	559		8		1	45		3	4	1,506
Pre-Tax Profit	-244,819	-45,077	382,129	314,430	252,685	-196,323	671,719	1,042,791	818,093	1,027,826	777,466	540,446	1,612,338
Tax		3,630	-78,245	-62,069	-58,532	23,831	-148,094	-241,867	-197,487	-258,709	-205,379	-138,727	-451,454
Profit After Tax	-244,819	-41,447	303,884	252,361	194,153	-172,492	523,625	800,924	620,606	769,117	572,087	401,719	1,160,883
Dividends Paid		228,980	184,000	145,238	124,008	524,008	1,124,008	124,008	444,008	188,007	244,328	344,807
Retained Profit	-244,819	-270,427	119,884	107,123	70,145	-696,500	-600,383	676,916	176,598	581,110	327,759	56,912	1,160,883
Employee Costs	1,238,995	1,831,420	2,257,995	2,460,098	1,600,160	1,523,200	1,662,878	1,515,612	1,170,786	1,024,411	894,189	760,863
Number Of Employees	37	39	61	56	47	47	45	37	31	28	27	23
EBITDA*	-133,765	-928,604	417,578	337,847	293,068	-132,777	754,442	1,154,740	889,668	1,060,751	805,418	577,497	1,641,830

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Nov 2021	Nov 2020	Nov 2019	Nov 2018	Nov 2017	Nov 2016	Nov 2015	Nov 2014	Nov 2013	Nov 2012	Nov 2011	Nov 2010	Nov 2009
Tangible Assets	41,675	69,463	87,035	16,709	53,364	86,457	135,633	231,545	107,800	157,463	38,719	64,061	39,893
Intangible Assets	24,987	43,448	53,326	68,886	61,566	55,869	50,371
Investments & Other
Debtors (Due After 1 year)	3,789,611	2,100,740									653
Total Fixed Assets	3,856,273	2,213,651	140,361	85,595	114,930	142,326	186,004	231,545	107,800	157,463	39,372	64,061	39,893
Stock & work in progress	1,602,868	1,350,079	2,019,718	1,301,285	1,757,747	1,644,095	1,136,626	1,227,507	1,523,960	1,136,986	1,103,906	978,955	469,106
Trade Debtors	507,799	661,966	4,300,625	5,798,696	3,687,642	3,887,234	4,148,163	4,539,241	4,144,096	3,407,444	2,892,073	2,375,176	1,311,359
Group Debtors
Misc Debtors	107,411	196,409	448,304		125,399	191,560	81,278	172,822	79,212	89,993	33,034	25,807	114,117
Cash	128,282	415,373	88,692	148,402	622	426,063	726,705	197,564	546,280	1,098,384	848,945	540,709	602,466
misc current assets
total current assets	2,346,360	2,623,827	6,857,339	7,429,229	5,571,410	6,148,952	6,092,772	6,137,134	6,293,548	5,732,807	4,877,958	3,920,647	2,497,048
total assets	6,202,633	4,837,478	6,997,700	7,514,824	5,686,340	6,291,278	6,278,776	6,368,679	6,401,348	5,890,270	4,917,330	3,984,708	2,536,941
Bank overdraft	395,931	338,030	1,073,127	1,314,960	205,874
Bank loan
Trade Creditors	1,482,895	993,796	2,739,492	2,145,502	2,122,374	3,333,981	2,403,763	2,248,697	3,033,522	2,695,905	2,410,857	1,967,177	1,375,958
Group/Directors Accounts		458,778	703,417		898,827	944,088	714,710	142,584	306,707	86,563	73,152	101,302
other short term finances				758,080
hp & lease commitments											19,365
other current liabilities	2,113,401	739,530	501,116		705,724	329,813	780,407	996,961	757,756	981,037	868,301	678,968
total current liabilities	3,992,227	2,530,134	5,017,152	5,654,160	3,932,799	4,607,882	3,898,880	3,388,242	4,097,985	3,763,505	3,371,675	2,747,447	1,375,958
loans	745,104	597,223
hp & lease commitments												19,365
Accruals and Deferred Income
other liabilities
provisions								158
total long term liabilities	745,104	597,223						158				19,365
total liabilities	4,737,331	3,127,357	5,017,152	5,654,160	3,932,799	4,607,882	3,898,880	3,388,400	4,097,985	3,763,505	3,371,675	2,766,812	1,375,958
net assets	1,465,302	1,710,121	1,980,548	1,860,664	1,753,541	1,683,396	2,379,896	2,980,279	2,303,363	2,126,765	1,545,655	1,217,896	1,160,983
total shareholders funds	1,465,302	1,710,121	1,980,548	1,860,664	1,753,541	1,683,396	2,379,896	2,980,279	2,303,363	2,126,765	1,545,655	1,217,896	1,160,983

	Nov 2021	Nov 2020	Nov 2019	Nov 2018	Nov 2017	Nov 2016	Nov 2015	Nov 2014	Nov 2013	Nov 2012	Nov 2011	Nov 2010	Nov 2009
Operating Activities
Operating Profit	-181,764	-967,025	384,274	314,418	252,674	-196,331	671,719	1,042,790	818,048	1,027,826	777,463	540,442	1,610,831
Depreciation	29,538	36,625	33,304	23,429	40,394	63,554	82,723	111,950	71,620	32,925	27,955	37,055	30,999
Amortisation	18,461	1,796
Tax		3,630	-78,245	-62,069	-58,532	23,831	-148,094	-241,867	-197,487	-258,709	-205,379	-138,727	-451,454
Stock	252,789	-669,639	718,433	-456,462	113,652	507,469	-90,881	-296,453	386,974	33,080	124,951	509,849	469,106
Debtors	1,445,706	-1,789,814	-1,049,767	1,985,655	-265,753	-150,647	-482,622	488,755	725,871	571,677	524,777	975,507	1,425,476
Creditors	489,099	-1,745,696	593,990	23,128	-1,211,607	930,218	155,066	-784,825	337,617	285,048	443,680	591,219	1,375,958
Accruals and Deferred Income	1,373,871	238,414	501,116	-705,724	375,911	-450,594	-216,554	239,205	-223,281	112,736	189,333	678,968
Deferred Taxes & Provisions							-158	158
Cash flow from operations	30,710	27,197	1,765,773	-1,936,011	-449,059	13,856	1,118,205	175,109	-306,328	595,069	583,324	223,601	671,752
Investing Activities
capital expenditure	-1,750		-102,032	5,906	-32,413	-35,893	-45,827	-211,146	-21,957	-151,719	-2,613	-61,223	-70,892
Change in Investments
cash flow from investments	-1,750		-102,032	5,906	-32,413	-35,893	-45,827	-211,146	-21,957	-151,719	-2,613	-61,223	-70,892
Financing Activities
Bank loans
Group/Directors Accounts	-458,778	-244,639	703,417	-898,827	-45,261	229,378	572,126	-164,123	220,144	13,411	-28,150	101,302
Other Short Term Loans			-758,080	758,080
Long term loans	147,881	597,223
Hire Purchase and Lease Commitments										-19,365		19,365
other long term liabilities
share issue												1	100
interest	-63,055	-19,318	-2,145	559		8		1	45		3	4	1,506
cash flow from financing	-373,952	333,266	-56,808	-140,188	-45,261	229,386	572,126	-164,122	220,189	-5,954	-28,147	120,672	1,606
cash and cash equivalents
cash	-287,091	326,681	-59,710	147,780	-425,441	-300,642	529,141	-348,716	-552,104	249,439	308,236	-61,757	602,466
overdraft	57,901	-735,097	-241,833	1,109,086	205,874
change in cash	-344,992	1,061,778	182,123	-961,306	-631,315	-300,642	529,141	-348,716	-552,104	249,439	308,236	-61,757	602,466

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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COVER UP CLOTHING LIMITED group structure

Cover Up Clothing Limited has no subsidiary companies.

Ultimate parent company

COVER UP CLOTHING LIMITED

02562923

COVER UP CLOTHING LIMITED Shareholders

rachel heather	65%
tracey green	25%
norman heather	10%

Cover Up Clothing Limited currently has 2 directors. The longest serving directors include Ms Rachel Heather (Nov 1991) and Ms Tracy Green (Nov 1991).

officer	country	age	start	end	role
Ms Rachel Heather	England	60 years	Nov 1991	-	Director
Ms Tracy Green	England	60 years	Nov 1991	-	Director

P&L

November 2021

turnover

6.4m

-30%

operating profit

-181.8k

gross margin

31.9%

+83.31%

turnover

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

Balance Sheet

November 2021

net assets

1.5m

-0.14%

total assets

6.2m

+0.28%

cash

128.3k

-0.69%

net assets

Total assets minus all liabilities

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company number

02562923

Type

Private limited with Share Capital

industry

14190 - Manufacture of other wearing apparel and accessories

46420 - Wholesale of clothing and footwear

incorporation date

November 1990

ultimate parent company

None

previous names

powerissue limited (February 1991)

address

c/o begbies traynor (london) llp, 31st floor, london, E14 5NR

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 3 charges/mortgages relating to cover up clothing limited. Currently there are 3 open charges and 0 have been satisfied in the past.

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cover up clothing limited Company Information

cover up clothing limited Estimated Valuation

cover up clothing limited Estimated Valuation

cover up clothing limited Estimated Valuation

Cover Up Clothing Limited Overview

Cover Up Clothing Limited Health Check

COVER UP CLOTHING LIMITED financials

cover up clothing limited Credit Report and Business Information

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cover up clothing limited Ownership

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cover up clothing limited Capital Raised & Share Issues BETA

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