seabank power limited
seabank power limited Company Information
Company Number
02591188
Next Accounts
Sep 2025
Shareholders
electricity first ltd
sse seabank investments ltd
Group Structure
View All
Industry
Production of electricity
Registered Address
severn road, hallen, bristol, BS10 7SP
Website
www.seabank.co.ukseabank power limited Estimated Valuation
Pomanda estimates the enterprise value of SEABANK POWER LIMITED at £676.2m based on a Turnover of £279.7m and 2.42x industry multiple (adjusted for size and gross margin).
seabank power limited Estimated Valuation
Pomanda estimates the enterprise value of SEABANK POWER LIMITED at £394.1m based on an EBITDA of £57.4m and a 6.87x industry multiple (adjusted for size and gross margin).
seabank power limited Estimated Valuation
Pomanda estimates the enterprise value of SEABANK POWER LIMITED at £327.5m based on Net Assets of £124.6m and 2.63x industry multiple (adjusted for liquidity).
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Seabank Power Limited Overview
Seabank Power Limited is a live company located in bristol, BS10 7SP with a Companies House number of 02591188. It operates in the production of electricity sector, SIC Code 35110. Founded in March 1991, it's largest shareholder is electricity first ltd with a 50% stake. Seabank Power Limited is a mature, mega sized company, Pomanda has estimated its turnover at £279.7m with high growth in recent years.
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Seabank Power Limited Health Check
Pomanda's financial health check has awarded Seabank Power 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
0 Regular
4 Weak
Size
annual sales of £279.7m, make it larger than the average company (£1.8m)
£279.7m - Seabank Power Limited
£1.8m - Industry AVG
Growth
3 year (CAGR) sales growth of 29%, show it is growing at a faster rate (10.8%)
29% - Seabank Power Limited
10.8% - Industry AVG
Production
with a gross margin of 23.6%, this company has a higher cost of product (71%)
23.6% - Seabank Power Limited
71% - Industry AVG
Profitability
an operating margin of 18.1% make it less profitable than the average company (51.1%)
18.1% - Seabank Power Limited
51.1% - Industry AVG
Employees
with 54 employees, this is above the industry average (3)
54 - Seabank Power Limited
3 - Industry AVG
Pay Structure
on an average salary of £117.5k, the company has a higher pay structure (£78.6k)
£117.5k - Seabank Power Limited
£78.6k - Industry AVG
Efficiency
resulting in sales per employee of £5.2m, this is more efficient (£449.7k)
£5.2m - Seabank Power Limited
£449.7k - Industry AVG
Debtor Days
There is insufficient data available for this Key Performance Indicator!
- - Seabank Power Limited
- - Industry AVG
Creditor Days
its suppliers are paid after 1 days, this is quicker than average (21 days)
1 days - Seabank Power Limited
21 days - Industry AVG
Stock Days
it holds stock equivalent to 11 days, this is less than average (17 days)
11 days - Seabank Power Limited
17 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 81 weeks, this is more cash available to meet short term requirements (9 weeks)
81 weeks - Seabank Power Limited
9 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 52%, this is a lower level of debt than the average (90%)
52% - Seabank Power Limited
90% - Industry AVG
SEABANK POWER LIMITED financials
Seabank Power Limited's latest turnover from December 2023 is £279.7 million and the company has net assets of £124.6 million. According to their latest financial statements, Seabank Power Limited has 54 employees and maintains cash reserves of £53.7 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 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 279,744,000 | 257,145,000 | 240,637,000 | 131,587,000 | 108,890,000 | 104,146,000 | 142,389,000 | 111,331,000 | 123,291,000 | 124,779,000 | 124,135,000 | 130,665,000 | 122,308,000 | 125,268,000 | 109,354,000 |
| Other Income Or Grants | |||||||||||||||
| Cost Of Sales | 213,676,000 | 202,396,000 | 201,686,000 | 103,096,000 | 78,199,000 | 78,300,000 | 59,909,000 | 62,595,000 | 49,637,000 | 55,415,000 | 53,809,000 | 64,309,000 | 87,134,000 | 57,865,000 | 51,769,000 |
| Gross Profit | 66,068,000 | 54,749,000 | 38,951,000 | 28,491,000 | 30,691,000 | 25,846,000 | 82,480,000 | 48,736,000 | 73,654,000 | 69,364,000 | 70,326,000 | 66,356,000 | 35,174,000 | 67,403,000 | 57,585,000 |
| Admin Expenses | 15,583,000 | 14,265,000 | 15,245,000 | 13,962,000 | 14,785,000 | 14,311,000 | 11,179,000 | 10,646,000 | 16,392,000 | 14,909,000 | 13,969,000 | 13,599,000 | 13,424,000 | 11,074,000 | 12,128,000 |
| Operating Profit | 50,485,000 | 40,484,000 | 23,706,000 | 14,529,000 | 15,906,000 | 11,535,000 | 71,301,000 | 38,090,000 | 57,262,000 | 54,455,000 | 56,357,000 | 52,757,000 | 21,750,000 | 56,329,000 | 45,457,000 |
| Interest Payable | 582,000 | 927,000 | 135,000 | 207,000 | 206,000 | 320,000 | 6,000 | 108,000 | 870,000 | 2,736,000 | 4,684,000 | 6,702,000 | 8,598,000 | 10,589,000 | 12,572,000 |
| Interest Receivable | 1,164,000 | 112,000 | 2,000 | 50,000 | 72,000 | 45,000 | 31,000 | 136,000 | 88,000 | 74,000 | 72,000 | 122,000 | 132,000 | 166,000 | 710,000 |
| Pre-Tax Profit | 51,067,000 | 39,669,000 | 23,573,000 | 14,372,000 | 15,772,000 | 11,260,000 | 71,326,000 | 38,118,000 | 56,480,000 | 51,793,000 | 51,745,000 | 46,177,000 | 13,284,000 | 45,906,000 | 33,595,000 |
| Tax | -12,234,000 | -7,602,000 | -9,750,000 | -4,942,000 | -3,436,000 | -2,573,000 | -14,114,000 | -7,085,000 | -9,249,000 | -11,608,000 | -8,115,000 | -8,660,000 | -638,000 | -10,604,000 | -10,137,000 |
| Profit After Tax | 38,833,000 | 32,067,000 | 13,823,000 | 9,430,000 | 12,336,000 | 8,687,000 | 57,212,000 | 31,033,000 | 47,231,000 | 40,185,000 | 43,630,000 | 37,517,000 | 12,646,000 | 35,302,000 | 23,458,000 |
| Dividends Paid | 38,000,000 | 47,000,000 | 34,000,000 | 6,000,000 | 71,000,000 | 46,000,000 | 27,000,000 | 23,500,000 | 24,000,000 | 21,000,000 | 8,000,000 | 45,000,000 | 15,000,000 | ||
| Retained Profit | 833,000 | -14,933,000 | 13,823,000 | -24,570,000 | 6,336,000 | 8,687,000 | -13,788,000 | -14,967,000 | 20,231,000 | 16,685,000 | 19,630,000 | 16,517,000 | 4,646,000 | -9,698,000 | 8,458,000 |
| Employee Costs | 6,343,000 | 5,608,000 | 5,570,000 | 5,013,000 | 4,933,000 | 4,869,000 | 4,732,000 | 4,888,000 | 4,480,000 | 4,390,000 | 4,123,000 | 3,968,000 | 4,104,000 | 3,735,000 | 3,555,000 |
| Number Of Employees | 54 | 54 | 54 | 55 | 54 | 56 | 55 | 56 | 56 | 55 | 54 | 55 | 56 | 55 | 55 |
| EBITDA* | 57,403,000 | 47,337,000 | 30,503,000 | 26,080,000 | 27,406,000 | 23,007,000 | 82,746,000 | 55,006,000 | 73,047,000 | 69,724,000 | 71,767,000 | 68,815,000 | 38,410,000 | 74,606,000 | 67,073,000 |
* 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 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 91,209,000 | 97,625,000 | 104,094,000 | 110,370,000 | 121,541,000 | 132,749,000 | 143,801,000 | 154,998,000 | 151,214,000 | 166,764,000 | 172,212,000 | 187,496,000 | 199,795,000 | 216,455,000 | 242,017,000 |
| Intangible Assets | 65,798,000 | 123,857,000 | |||||||||||||
| Investments & Other | |||||||||||||||
| Debtors (Due After 1 year) | |||||||||||||||
| Total Fixed Assets | 157,007,000 | 221,482,000 | 104,094,000 | 110,370,000 | 121,541,000 | 132,749,000 | 143,801,000 | 154,998,000 | 151,214,000 | 166,764,000 | 172,212,000 | 187,496,000 | 199,795,000 | 216,455,000 | 242,017,000 |
| Stock & work in progress | 6,804,000 | 6,447,000 | 6,577,000 | 6,813,000 | 6,421,000 | 6,498,000 | 6,030,000 | 5,699,000 | 6,817,000 | 6,525,000 | 6,041,000 | 6,009,000 | 5,349,000 | 3,706,000 | 3,830,000 |
| Trade Debtors | 23,235,000 | 28,693,000 | 188,000 | 98,000 | 298,000 | 169,000 | 83,000 | 151,000 | 4,000 | ||||||
| Group Debtors | |||||||||||||||
| Misc Debtors | 41,998,000 | 33,370,000 | 125,344,000 | 58,642,000 | 71,208,000 | 51,310,000 | 39,590,000 | 34,420,000 | 25,583,000 | 25,038,000 | 20,521,000 | 18,666,000 | 32,279,000 | 52,644,000 | 78,243,000 |
| Cash | 53,737,000 | 54,354,000 | 102,403,000 | 23,009,000 | 12,915,000 | 22,496,000 | 13,524,000 | 15,270,000 | 33,594,000 | 16,935,000 | 14,513,000 | 14,725,000 | 2,015,000 | 16,134,000 | 10,145,000 |
| misc current assets | |||||||||||||||
| total current assets | 102,539,000 | 117,406,000 | 263,017,000 | 88,464,000 | 90,732,000 | 80,402,000 | 59,442,000 | 55,558,000 | 65,994,000 | 48,498,000 | 41,158,000 | 39,551,000 | 39,643,000 | 72,484,000 | 92,222,000 |
| total assets | 259,546,000 | 338,888,000 | 367,111,000 | 198,834,000 | 212,273,000 | 213,151,000 | 203,243,000 | 210,556,000 | 217,208,000 | 215,262,000 | 213,370,000 | 227,047,000 | 239,438,000 | 288,939,000 | 334,239,000 |
| Bank overdraft | 6,754,000 | ||||||||||||||
| Bank loan | |||||||||||||||
| Trade Creditors | 1,119,000 | 27,366,000 | 67,884,000 | 1,258,000 | 938,000 | 1,239,000 | 2,069,000 | 4,087,000 | 981,000 | 1,315,000 | 808,000 | 1,190,000 | 883,000 | 1,019,000 | 1,089,000 |
| Group/Directors Accounts | 2,199,000 | ||||||||||||||
| other short term finances | 3,666,000 | 14,467,000 | 21,600,000 | 21,600,000 | 21,600,000 | 21,600,000 | 21,600,000 | ||||||||
| hp & lease commitments | |||||||||||||||
| other current liabilities | 33,273,000 | 31,651,000 | 38,486,000 | 15,343,000 | 10,394,000 | 9,950,000 | 18,579,000 | 14,564,000 | 17,178,000 | 16,873,000 | 17,150,000 | 13,681,000 | 17,488,000 | 21,561,000 | 22,279,000 |
| total current liabilities | 34,392,000 | 59,017,000 | 106,370,000 | 16,601,000 | 11,332,000 | 11,189,000 | 20,648,000 | 18,651,000 | 21,825,000 | 32,655,000 | 39,558,000 | 45,424,000 | 39,971,000 | 44,180,000 | 44,968,000 |
| loans | 3,666,000 | 18,133,000 | 39,733,000 | 61,333,000 | 82,933,000 | 104,533,000 | |||||||||
| hp & lease commitments | |||||||||||||||
| Accruals and Deferred Income | |||||||||||||||
| other liabilities | |||||||||||||||
| provisions | 100,551,000 | 156,101,000 | 122,038,000 | 57,353,000 | 51,491,000 | 58,848,000 | 48,168,000 | 43,690,000 | 32,201,000 | 35,990,000 | 33,599,000 | 39,440,000 | 52,201,000 | 80,539,000 | 93,753,000 |
| total long term liabilities | 100,551,000 | 156,101,000 | 122,038,000 | 57,353,000 | 51,491,000 | 58,848,000 | 48,168,000 | 43,690,000 | 32,201,000 | 39,656,000 | 51,732,000 | 79,173,000 | 113,534,000 | 163,472,000 | 198,286,000 |
| total liabilities | 134,943,000 | 215,118,000 | 228,408,000 | 73,954,000 | 62,823,000 | 70,037,000 | 68,816,000 | 62,341,000 | 54,026,000 | 72,311,000 | 91,290,000 | 124,597,000 | 153,505,000 | 207,652,000 | 243,254,000 |
| net assets | 124,603,000 | 123,770,000 | 138,703,000 | 124,880,000 | 149,450,000 | 143,114,000 | 134,427,000 | 148,215,000 | 163,182,000 | 142,951,000 | 122,080,000 | 102,450,000 | 85,933,000 | 81,287,000 | 90,985,000 |
| total shareholders funds | 124,603,000 | 123,770,000 | 138,703,000 | 124,880,000 | 149,450,000 | 143,114,000 | 134,427,000 | 148,215,000 | 163,182,000 | 142,951,000 | 122,080,000 | 102,450,000 | 85,933,000 | 81,287,000 | 90,985,000 |
| 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 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Operating Profit | 50,485,000 | 40,484,000 | 23,706,000 | 14,529,000 | 15,906,000 | 11,535,000 | 71,301,000 | 38,090,000 | 57,262,000 | 54,455,000 | 56,357,000 | 52,757,000 | 21,750,000 | 56,329,000 | 45,457,000 |
| Depreciation | 6,918,000 | 6,853,000 | 6,797,000 | 11,551,000 | 11,500,000 | 11,472,000 | 11,445,000 | 16,916,000 | 15,785,000 | 15,269,000 | 15,410,000 | 16,058,000 | 16,660,000 | 18,277,000 | 21,616,000 |
| Amortisation | |||||||||||||||
| Tax | -12,234,000 | -7,602,000 | -9,750,000 | -4,942,000 | -3,436,000 | -2,573,000 | -14,114,000 | -7,085,000 | -9,249,000 | -11,608,000 | -8,115,000 | -8,660,000 | -638,000 | -10,604,000 | -10,137,000 |
| Stock | 357,000 | -130,000 | -236,000 | 392,000 | -77,000 | 468,000 | 331,000 | -1,118,000 | 292,000 | 484,000 | 32,000 | 660,000 | 1,643,000 | -124,000 | 3,830,000 |
| Debtors | -14,607,000 | -97,432,000 | 95,395,000 | -12,754,000 | 19,988,000 | 11,520,000 | 5,299,000 | 9,006,000 | 545,000 | 4,434,000 | 1,787,000 | -13,462,000 | -20,365,000 | -25,603,000 | 78,247,000 |
| Creditors | -26,247,000 | -40,518,000 | 66,626,000 | 320,000 | -301,000 | -830,000 | -2,018,000 | 3,106,000 | -334,000 | 507,000 | -382,000 | 307,000 | -136,000 | -70,000 | 1,089,000 |
| Accruals and Deferred Income | 1,622,000 | -6,835,000 | 23,143,000 | 4,949,000 | 444,000 | -8,629,000 | 4,015,000 | -2,614,000 | 305,000 | -277,000 | 3,469,000 | -3,807,000 | -4,073,000 | -718,000 | 22,279,000 |
| Deferred Taxes & Provisions | -55,550,000 | 34,063,000 | 64,685,000 | 5,862,000 | -7,357,000 | 10,680,000 | 4,478,000 | 11,489,000 | -3,789,000 | 2,391,000 | -5,841,000 | -12,761,000 | -28,338,000 | -13,214,000 | 93,753,000 |
| Cash flow from operations | -20,756,000 | 124,007,000 | 80,048,000 | 44,631,000 | -3,155,000 | 9,667,000 | 69,477,000 | 52,014,000 | 59,143,000 | 55,819,000 | 59,079,000 | 56,696,000 | 23,947,000 | 75,727,000 | 91,980,000 |
| Investing Activities | |||||||||||||||
| capital expenditure | -459,000 | -162,000 | -19,366,000 | -235,000 | -4,608,000 | -134,000 | -3,759,000 | -4,702,000 | -1,467,000 | ||||||
| Change in Investments | |||||||||||||||
| cash flow from investments | -459,000 | -162,000 | -19,366,000 | -235,000 | -4,608,000 | -134,000 | -3,759,000 | -4,702,000 | -1,467,000 | ||||||
| Financing Activities | |||||||||||||||
| Bank loans | |||||||||||||||
| Group/Directors Accounts | -2,199,000 | 2,199,000 | |||||||||||||
| Other Short Term Loans | -3,666,000 | -10,801,000 | -7,133,000 | 21,600,000 | |||||||||||
| Long term loans | -3,666,000 | -14,467,000 | -21,600,000 | -21,600,000 | -21,600,000 | -21,600,000 | 104,533,000 | ||||||||
| Hire Purchase and Lease Commitments | |||||||||||||||
| other long term liabilities | |||||||||||||||
| share issue | |||||||||||||||
| interest | 582,000 | -815,000 | -133,000 | -157,000 | -134,000 | -275,000 | 25,000 | 28,000 | -782,000 | -2,662,000 | -4,612,000 | -6,580,000 | -8,466,000 | -10,423,000 | -11,862,000 |
| cash flow from financing | 582,000 | -815,000 | -133,000 | -157,000 | -134,000 | -275,000 | 25,000 | -3,638,000 | -15,249,000 | -20,076,000 | -28,411,000 | -25,981,000 | -30,066,000 | -32,023,000 | 196,798,000 |
| cash and cash equivalents | |||||||||||||||
| cash | -617,000 | -48,049,000 | 79,394,000 | 10,094,000 | -9,581,000 | 8,972,000 | -1,746,000 | -18,324,000 | 16,659,000 | 2,422,000 | -212,000 | 12,710,000 | -14,119,000 | 5,989,000 | 10,145,000 |
| overdraft | -6,754,000 | 6,754,000 | |||||||||||||
| change in cash | -617,000 | -48,049,000 | 79,394,000 | 10,094,000 | -9,581,000 | 8,972,000 | -1,746,000 | -18,324,000 | 16,659,000 | 2,422,000 | 6,542,000 | 5,956,000 | -14,119,000 | 5,989,000 | 10,145,000 |
seabank power limited Credit Report and Business Information
Seabank Power Limited Competitor Analysis
Perform a competitor analysis for seabank power limited by selecting its closest rivals, whether from the ELECTRICITY, GAS, STEAM AND AIR CONDITIONING SUPPLY sector, other mega companies, companies in BS10 area or any other competitors across 12 key performance metrics.
seabank power limited Ownership
SEABANK POWER LIMITED group structure
Seabank Power Limited has no subsidiary companies.
Ultimate parent company
SEABANK POWER LIMITED
02591188
seabank power limited directors
Seabank Power Limited currently has 8 directors. The longest serving directors include Mr Andrew Hunter (May 2010) and Mr Neil McGee (May 2010).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Andrew Hunter | Hong Kong | 66 years | May 2010 | - | Director |
| Mr Neil McGee | United Kingdom | 73 years | May 2010 | - | Director |
| Mr Chao Tsai | China | 67 years | Sep 2010 | - | Director |
| Mr Duncan MacRae | 54 years | Jun 2011 | - | Director | |
| Mrs Ann Gray | Scotland | 58 years | Oct 2019 | - | Director |
| Mr Adrian Rudd | England | 53 years | Apr 2022 | - | Director |
| Mr Adrian Rudd | England | 53 years | Apr 2022 | - | Director |
| Ms Mandy MacKay | Scotland | 49 years | Feb 2024 | - | Director |
P&L
December 2023turnover
279.7m
+9%
operating profit
50.5m
+25%
gross margin
23.7%
+10.93%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
124.6m
+0.01%
total assets
259.5m
-0.23%
cash
53.7m
-0.01%
net assets
Total assets minus all liabilities
seabank power limited company details
company number
02591188
Type
Private limited with Share Capital
industry
35110 - Production of electricity
incorporation date
March 1991
age
34
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
December 2023
previous names
gigabit services limited (July 1991)
accountant
-
auditor
PRICEWATERHOUSECOOPERS LLP
address
severn road, hallen, bristol, BS10 7SP
Bank
THE ROYAL BANK OF SCOTLAND PLC
Legal Advisor
-
seabank power 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 seabank power limited. Currently there are 2 open charges and 2 have been satisfied in the past.
seabank power 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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seabank power limited Companies House Filings - See Documents
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