independent trustee services limited

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independent trustee services limited Company Information

Share INDEPENDENT TRUSTEE SERVICES LIMITED

Company Number

02567540

Shareholders

jlt benefit solutions ltd

Group Structure

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Industry

Other financial service activities, except insurance and pension funding, (not including security dealing on own account and factoring) n.e.c.

 

Registered Address

westgate house 9 holborn, london, EC1N 2LL

independent trustee services limited Estimated Valuation

£7.3m

Pomanda estimates the enterprise value of INDEPENDENT TRUSTEE SERVICES LIMITED at £7.3m based on a Turnover of £7.5m and 0.97x industry multiple (adjusted for size and gross margin).

independent trustee services limited Estimated Valuation

£11.3m

Pomanda estimates the enterprise value of INDEPENDENT TRUSTEE SERVICES LIMITED at £11.3m based on an EBITDA of £3.4m and a 3.36x industry multiple (adjusted for size and gross margin).

independent trustee services limited Estimated Valuation

£6.4m

Pomanda estimates the enterprise value of INDEPENDENT TRUSTEE SERVICES LIMITED at £6.4m based on Net Assets of £4.8m and 1.34x industry multiple (adjusted for liquidity).

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Independent Trustee Services Limited Overview

Independent Trustee Services Limited is a live company located in london, EC1N 2LL with a Companies House number of 02567540. It operates in the financial intermediation not elsewhere classified sector, SIC Code 64999. Founded in December 1990, it's largest shareholder is jlt benefit solutions ltd with a 100% stake. Independent Trustee Services Limited is a mature, mid sized company, Pomanda has estimated its turnover at £7.5m with high growth in recent years.

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Independent Trustee Services Limited Health Check

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

Health Check Image
Health Rating5out of 5
positive_score

5 Strong

positive_score

3 Regular

positive_score

3 Weak

size

Size

annual sales of £7.5m, make it larger than the average company (£5.2m)

£7.5m - Independent Trustee Services Limited

£5.2m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of 16%, show it is growing at a faster rate (6.6%)

16% - Independent Trustee Services Limited

6.6% - Industry AVG

production

Production

with a gross margin of 14.3%, this company has a higher cost of product (55.5%)

14.3% - Independent Trustee Services Limited

55.5% - Industry AVG

profitability

Profitability

an operating margin of 43.9% make it more profitable than the average company (9.2%)

43.9% - Independent Trustee Services Limited

9.2% - Industry AVG

employees

Employees

with 40 employees, this is above the industry average (12)

40 - Independent Trustee Services Limited

12 - Industry AVG

paystructure

Pay Structure

on an average salary of £79.9k, the company has an equivalent pay structure (£79.9k)

£79.9k - Independent Trustee Services Limited

£79.9k - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £187.5k, this is equally as efficient (£218k)

£187.5k - Independent Trustee Services Limited

£218k - Industry AVG

debtordays

Debtor Days

it gets paid by customers after 171 days, this is later than average (32 days)

171 days - Independent Trustee Services Limited

32 days - Industry AVG

creditordays

Creditor Days

its suppliers are paid after 2 days, this is quicker than average (41 days)

2 days - Independent Trustee Services Limited

41 days - Industry AVG

stockdays

Stock Days

There is insufficient data available for this Key Performance Indicator!

- - Independent Trustee Services Limited

- - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 23 weeks, this is average cash available to meet short term requirements (29 weeks)

23 weeks - Independent Trustee Services Limited

29 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 29.2%, this is a lower level of debt than the average (68.8%)

29.2% - Independent Trustee Services Limited

68.8% - Industry AVG

INDEPENDENT TRUSTEE SERVICES LIMITED financials

EXPORTms excel logo

Independent Trustee Services Limited's latest turnover from March 2024 is estimated at £7.5 million and the company has net assets of £4.8 million. According to their latest financial statements, Independent Trustee Services Limited has 40 employees and maintains cash reserves of £906.1 thousand as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Mar 2024Mar 2023Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Turnover7,501,2584,019,2304,806,8344,036,3023,600,7635,228,1035,064,3785,163,4974,946,7895,031,9424,805,5855,162,6384,767,7684,196,1773,270,538
Other Income Or Grants
Cost Of Sales6,426,2303,334,3014,027,8643,353,1002,996,8134,337,9874,101,1443,915,5633,417,9393,620,7203,495,0493,803,4573,600,0593,229,878
Gross Profit1,075,028684,928778,971683,202603,950890,116963,2341,247,9341,528,8501,411,2221,310,5361,359,1811,167,709966,299
Admin Expenses-2,218,952-2,123,280278,081228,3109,085,205-436,386-266,37567,172457,944-57,339-693,939-998,769-685,778-293,943-1,490,553
Operating Profit3,293,9802,808,208500,890454,892-8,481,2551,326,5021,229,6091,180,7621,070,9061,468,5612,004,4752,357,9501,853,4871,260,2421,490,553
Interest Payable79,820102,80191,89888,619161,262
Interest Receivable31,4716,2239067693,945489,438320,185116,247266,830310,872249,055224,592144,79624,45171,199
Pre-Tax Profit3,325,4512,814,431501,796455,662-8,477,3101,815,9401,549,7941,297,0091,257,9161,676,6322,161,6322,493,9231,998,2821,285,6931,500,490
Tax-831,363-534,742-95,341-86,576-46,746-38,880-4,674105,633142,218108,432-81,466-169,55160,132-420,126
Profit After Tax2,494,0882,279,689406,455369,086-8,477,3101,769,1941,510,9141,292,3351,363,5491,818,8502,270,0642,412,4571,828,7311,345,8251,080,364
Dividends Paid7,000,000500,0001,000,000
Retained Profit2,494,0882,279,689406,455369,086-8,477,3101,769,1941,510,914-5,707,6651,363,5491,818,8501,770,0642,412,4571,828,7311,345,82580,364
Employee Costs3,194,5603,332,3352,777,1432,155,6661,909,135
Number Of Employees4045362926111112121212121110
EBITDA*3,351,8302,857,400529,891476,787-8,481,2551,326,5021,229,6091,180,7621,070,9061,468,5612,004,4752,357,9501,853,4871,260,2421,490,553

* Earnings Before Interest, Tax, Depreciation and Amortisation

Mar 2024Mar 2023Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Tangible Assets104,681114,43850,86551,34756,086
Intangible Assets
Investments & Other
Debtors (Due After 1 year)
Total Fixed Assets104,681114,43850,86551,34756,086
Stock & work in progress
Trade Debtors3,518,2241,238,6632,244,6111,845,2451,603,5541,315,4791,187,8591,046,517890,0231,120,846961,576856,403920,934941,345727,085
Group Debtors1,799,9191,642,603434,519187,2427,998,0876,428,3194,723,85110,837,7639,393,1667,798,0186,240,1435,121,1054,661,3243,303,809
Misc Debtors411,114976,38628,7769,224456,899343,078443,063328,791336,228383,227254,50552,243167,013254,146
Cash906,061292,830217,648507,4481,031,44220,63722,874216,80076,64525,06655,853190,470122,518116,312315,226
misc current assets1
total current assets6,635,3184,150,4822,925,5542,549,1592,634,9969,791,1037,982,1306,430,23112,133,22210,875,3069,198,6747,541,5216,216,8005,885,9944,600,266
total assets6,739,9994,264,9202,976,4192,600,5062,691,0829,791,1037,982,1306,430,23112,133,22210,875,3069,198,6747,541,5216,216,8005,885,9944,600,266
Bank overdraft
Bank loan
Trade Creditors 45,057300,64660,05663,051294,454
Group/Directors Accounts808,8001,079,149525,8611,173,6812,841,1222,841,122
other short term finances
hp & lease commitments
other current liabilities1,112,265605,3361,171,4401,197,567897,813350,084300,387259,402254,728360,361502,579615,490529,545360,029420,126
total current liabilities1,966,1221,985,1311,231,4961,260,6181,718,128350,084300,387259,402254,728360,361502,579615,4901,703,2263,201,1513,261,248
loans
hp & lease commitments
Accruals and Deferred Income
other liabilities
provisions5,6737,0939,245
total long term liabilities5,6737,0939,245
total liabilities1,966,1221,985,1311,237,1691,267,7111,727,373350,084300,387259,402254,728360,361502,579615,4901,703,2263,201,1513,261,248
net assets4,773,8772,279,7891,739,2501,332,795963,7099,441,0197,681,7436,170,82911,878,49410,514,9458,696,0956,926,0314,513,5742,684,8431,339,018
total shareholders funds4,773,8772,279,7891,739,2501,332,795963,7099,441,0197,681,7436,170,82911,878,49410,514,9458,696,0956,926,0314,513,5742,684,8431,339,018
Mar 2024Mar 2023Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Operating Activities
Operating Profit3,293,9802,808,208500,890454,892-8,481,2551,326,5021,229,6091,180,7621,070,9061,468,5612,004,4752,357,9501,853,4871,260,2421,490,553
Depreciation57,85049,19229,00121,895
Amortisation
Tax-831,363-534,742-95,341-86,576-46,746-38,880-4,674105,633142,218108,432-81,466-169,55160,132-420,126
Stock
Debtors1,871,6053,857,652666,195438,157-8,166,9111,811,2091,745,825-5,843,1461,206,3371,707,4191,791,7701,256,769324,6001,484,6424,285,040
Creditors-255,589300,646-2,995-231,403294,454
Accruals and Deferred Income506,929605,336-26,127299,754547,72949,69740,9854,674-105,633-142,218-112,91185,945169,516-60,097420,126
Deferred Taxes & Provisions-1,420-2,1529,245
Cash flow from operations900,202-629,012-262,18718,253537,084-481,756-514,1117,023,908-135,431-238,858208,2261,105,6601,528,852-224,365-2,794,487
Investing Activities
capital expenditure-48,093-163,630-28,519-17,156-56,086
Change in Investments
cash flow from investments-48,093-163,630-28,519-17,156-56,086
Financing Activities
Bank loans
Group/Directors Accounts-270,3491,079,149-525,861525,861-1,173,681-1,667,4412,841,122
Other Short Term Loans
Long term loans
Hire Purchase and Lease Commitments
other long term liabilities
share issue100-9,9181,258,654
interest31,4716,2239067693,945489,438320,185116,247187,010208,071157,157135,973144,79524,4519,937
cash flow from financing-238,8781,085,472906-525,092529,806479,520320,185116,247187,010208,071157,157-1,037,708-1,522,64624,4514,109,713
cash and cash equivalents
cash613,231292,830-289,800-523,9941,010,805-2,237-193,926140,15551,579-30,787-134,61767,9526,206-198,914315,226
overdraft
change in cash613,231292,830-289,800-523,9941,010,805-2,237-193,926140,15551,579-30,787-134,61767,9526,206-198,914315,226

independent trustee services limited Credit Report and Business Information

Very Low Risk70 - 100
Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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Independent Trustee Services Limited Competitor Analysis

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Perform a competitor analysis for independent trustee services limited by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other mid companies, companies in EC1N area or any other competitors across 12 key performance metrics.

independent trustee services limited Ownership

INDEPENDENT TRUSTEE SERVICES LIMITED group structure

Independent Trustee Services Limited has no subsidiary companies.

Ultimate parent company

2 parents

INDEPENDENT TRUSTEE SERVICES LIMITED

02567540

INDEPENDENT TRUSTEE SERVICES LIMITED Shareholders

jlt benefit solutions ltd 100%

independent trustee services limited directors

Independent Trustee Services Limited currently has 10 directors. The longest serving directors include Mr Christopher Martin (Feb 1992) and Mr Hetal Kotecha (Apr 2005).

officercountryagestartendrole
Mr Christopher MartinEngland59 years Feb 1992- Director
Mr Hetal KotechaEngland47 years Apr 2005- Director
Mr Dinesh Visavadia66 years Apr 2017- Director
Mrs Janine WoodEngland56 years Apr 2017- Director
Ms Rachel CroftEngland50 years Apr 2017- Director
Ms Helen FrisbyEngland49 years May 2018- Director
Mr Mark EvansEngland59 years Jan 2019- Director
Mr Anthony LivingstoneEngland54 years Feb 2023- Director
Mr Andrew BradshawUnited Kingdom50 years Feb 2023- Director
Ms Catherine HardinghamUnited Kingdom47 years Jun 2024- Director

P&L

March 2024

turnover

7.5m

+87%

operating profit

3.3m

0%

gross margin

14.4%

-15.9%

turnover

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

Balance Sheet

March 2024

net assets

4.8m

+1.09%

total assets

6.7m

+0.58%

cash

906.1k

+2.09%

net assets

Total assets minus all liabilities

independent trustee services limited company details

company number

02567540

Type

Private limited with Share Capital

industry

64999 - Other financial service activities, except insurance and pension funding, (not including security dealing on own account and factoring) n.e.c.

incorporation date

December 1990

age

35

incorporated

UK

ultimate parent company

accounts

Audit Exemption Subsidiary

last accounts submitted

March 2024

previous names

N/A

accountant

-

auditor

-

address

westgate house 9 holborn, london, EC1N 2LL

Bank

ABBEY NATIONAL PLC

Legal Advisor

-

independent trustee services 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 25 charges/mortgages relating to independent trustee services limited. Currently there are 2 open charges and 23 have been satisfied in the past.

independent trustee services 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.

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independent trustee services limited Companies House Filings - See Documents

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