seabank power limited

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seabank power limited Company Information

Share SEABANK POWER LIMITED
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MatureMegaHigh

Company Number

02591188

Registered Address

severn road, hallen, bristol, BS10 7SP

Industry

Production of electricity

 

Telephone

01179387800

Next Accounts Due

September 2025

Group Structure

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Directors

Neil McGee14 Years

Andrew Hunter14 Years

View All

Shareholders

electricity first ltd 50%

sse seabank investments ltd 50%

seabank power limited Estimated Valuation

£689m

Pomanda estimates the enterprise value of SEABANK POWER LIMITED at £689m based on a Turnover of £279.7m and 2.46x industry multiple (adjusted for size and gross margin).

seabank power limited Estimated Valuation

£407.5m

Pomanda estimates the enterprise value of SEABANK POWER LIMITED at £407.5m based on an EBITDA of £57.4m and a 7.1x industry multiple (adjusted for size and gross margin).

seabank power limited Estimated Valuation

£353.2m

Pomanda estimates the enterprise value of SEABANK POWER LIMITED at £353.2m based on Net Assets of £124.6m and 2.84x 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 6 measures and has 4 areas for improvement. Company Health Check FAQs

Health Check Image
Health Rating5out of 5
positive_score

6 Strong

positive_score

1 Regular

positive_score

4 Weak

size

Size

annual sales of £279.7m, make it larger than the average company (£1.7m)

£279.7m - Seabank Power Limited

£1.7m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of 29%, show it is growing at a faster rate (9.2%)

29% - Seabank Power Limited

9.2% - Industry AVG

production

Production

with a gross margin of 23.6%, this company has a higher cost of product (69.4%)

23.6% - Seabank Power Limited

69.4% - Industry AVG

profitability

Profitability

an operating margin of 18.1% make it less profitable than the average company (50.6%)

18.1% - Seabank Power Limited

50.6% - Industry AVG

employees

Employees

with 54 employees, this is above the industry average (2)

54 - Seabank Power Limited

2 - Industry AVG

paystructure

Pay Structure

on an average salary of £117.5k, the company has a higher pay structure (£73k)

£117.5k - Seabank Power Limited

£73k - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £5.2m, this is more efficient (£460.6k)

£5.2m - Seabank Power Limited

£460.6k - Industry AVG

debtordays

Debtor Days

There is insufficient data available for this Key Performance Indicator!

- - Seabank Power Limited

- - Industry AVG

creditordays

Creditor Days

its suppliers are paid after 1 days, this is quicker than average (20 days)

1 days - Seabank Power Limited

20 days - Industry AVG

stockdays

Stock Days

it holds stock equivalent to 11 days, this is in line with average (12 days)

11 days - Seabank Power Limited

12 days - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 81 weeks, this is more cash available to meet short term requirements (10 weeks)

81 weeks - Seabank Power Limited

10 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 52%, this is a lower level of debt than the average (89.7%)

52% - Seabank Power Limited

89.7% - Industry AVG

SEABANK POWER LIMITED financials

EXPORTms excel logo

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 HousePomanda Estimates

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Turnover279,744,000257,145,000240,637,000131,587,000108,890,000104,146,000142,389,000111,331,000123,291,000124,779,000124,135,000130,665,000122,308,000125,268,000109,354,000
Other Income Or Grants000000000000000
Cost Of Sales213,676,000202,396,000201,686,000103,096,00078,199,00078,300,00059,909,00062,595,00049,637,00055,415,00053,809,00064,309,00087,134,00057,865,00051,769,000
Gross Profit66,068,00054,749,00038,951,00028,491,00030,691,00025,846,00082,480,00048,736,00073,654,00069,364,00070,326,00066,356,00035,174,00067,403,00057,585,000
Admin Expenses15,583,00014,265,00015,245,00013,962,00014,785,00014,311,00011,179,00010,646,00016,392,00014,909,00013,969,00013,599,00013,424,00011,074,00012,128,000
Operating Profit50,485,00040,484,00023,706,00014,529,00015,906,00011,535,00071,301,00038,090,00057,262,00054,455,00056,357,00052,757,00021,750,00056,329,00045,457,000
Interest Payable582,000927,000135,000207,000206,000320,0006,000108,000870,0002,736,0004,684,0006,702,0008,598,00010,589,00012,572,000
Interest Receivable1,164,000112,0002,00050,00072,00045,00031,000136,00088,00074,00072,000122,000132,000166,000710,000
Pre-Tax Profit51,067,00039,669,00023,573,00014,372,00015,772,00011,260,00071,326,00038,118,00056,480,00051,793,00051,745,00046,177,00013,284,00045,906,00033,595,000
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 Tax38,833,00032,067,00013,823,0009,430,00012,336,0008,687,00057,212,00031,033,00047,231,00040,185,00043,630,00037,517,00012,646,00035,302,00023,458,000
Dividends Paid38,000,00047,000,000034,000,0006,000,000071,000,00046,000,00027,000,00023,500,00024,000,00021,000,0008,000,00045,000,00015,000,000
Retained Profit833,000-14,933,00013,823,000-24,570,0006,336,0008,687,000-13,788,000-14,967,00020,231,00016,685,00019,630,00016,517,0004,646,000-9,698,0008,458,000
Employee Costs6,343,0005,608,0005,570,0005,013,0004,933,0004,869,0004,732,0004,888,0004,480,0004,390,0004,123,0003,968,0004,104,0003,735,0003,555,000
Number Of Employees545454555456555656555455565555
EBITDA*57,403,00047,337,00030,503,00026,080,00027,406,00023,007,00082,746,00055,006,00073,047,00069,724,00071,767,00068,815,00038,410,00074,606,00067,073,000

* Earnings Before Interest, Tax, Depreciation and Amortisation

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Tangible Assets91,209,00097,625,000104,094,000110,370,000121,541,000132,749,000143,801,000154,998,000151,214,000166,764,000172,212,000187,496,000199,795,000216,455,000242,017,000
Intangible Assets65,798,000123,857,0000000000000000
Investments & Other000000000000000
Debtors (Due After 1 year)000000000000000
Total Fixed Assets157,007,000221,482,000104,094,000110,370,000121,541,000132,749,000143,801,000154,998,000151,214,000166,764,000172,212,000187,496,000199,795,000216,455,000242,017,000
Stock & work in progress6,804,0006,447,0006,577,0006,813,0006,421,0006,498,0006,030,0005,699,0006,817,0006,525,0006,041,0006,009,0005,349,0003,706,0003,830,000
Trade Debtors023,235,00028,693,0000188,00098,000298,000169,0000083,000151,000004,000
Group Debtors000000000000000
Misc Debtors41,998,00033,370,000125,344,00058,642,00071,208,00051,310,00039,590,00034,420,00025,583,00025,038,00020,521,00018,666,00032,279,00052,644,00078,243,000
Cash53,737,00054,354,000102,403,00023,009,00012,915,00022,496,00013,524,00015,270,00033,594,00016,935,00014,513,00014,725,0002,015,00016,134,00010,145,000
misc current assets000000000000000
total current assets102,539,000117,406,000263,017,00088,464,00090,732,00080,402,00059,442,00055,558,00065,994,00048,498,00041,158,00039,551,00039,643,00072,484,00092,222,000
total assets259,546,000338,888,000367,111,000198,834,000212,273,000213,151,000203,243,000210,556,000217,208,000215,262,000213,370,000227,047,000239,438,000288,939,000334,239,000
Bank overdraft000000000006,754,000000
Bank loan000000000000000
Trade Creditors 1,119,00027,366,00067,884,0001,258,000938,0001,239,0002,069,0004,087,000981,0001,315,000808,0001,190,000883,0001,019,0001,089,000
Group/Directors Accounts000000000002,199,000000
other short term finances000000003,666,00014,467,00021,600,00021,600,00021,600,00021,600,00021,600,000
hp & lease commitments000000000000000
other current liabilities33,273,00031,651,00038,486,00015,343,00010,394,0009,950,00018,579,00014,564,00017,178,00016,873,00017,150,00013,681,00017,488,00021,561,00022,279,000
total current liabilities34,392,00059,017,000106,370,00016,601,00011,332,00011,189,00020,648,00018,651,00021,825,00032,655,00039,558,00045,424,00039,971,00044,180,00044,968,000
loans0000000003,666,00018,133,00039,733,00061,333,00082,933,000104,533,000
hp & lease commitments000000000000000
Accruals and Deferred Income000000000000000
other liabilities000000000000000
provisions100,551,000156,101,000122,038,00057,353,00051,491,00058,848,00048,168,00043,690,00032,201,00035,990,00033,599,00039,440,00052,201,00080,539,00093,753,000
total long term liabilities100,551,000156,101,000122,038,00057,353,00051,491,00058,848,00048,168,00043,690,00032,201,00039,656,00051,732,00079,173,000113,534,000163,472,000198,286,000
total liabilities134,943,000215,118,000228,408,00073,954,00062,823,00070,037,00068,816,00062,341,00054,026,00072,311,00091,290,000124,597,000153,505,000207,652,000243,254,000
net assets124,603,000123,770,000138,703,000124,880,000149,450,000143,114,000134,427,000148,215,000163,182,000142,951,000122,080,000102,450,00085,933,00081,287,00090,985,000
total shareholders funds124,603,000123,770,000138,703,000124,880,000149,450,000143,114,000134,427,000148,215,000163,182,000142,951,000122,080,000102,450,00085,933,00081,287,00090,985,000
Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Operating Activities
Operating Profit50,485,00040,484,00023,706,00014,529,00015,906,00011,535,00071,301,00038,090,00057,262,00054,455,00056,357,00052,757,00021,750,00056,329,00045,457,000
Depreciation6,918,0006,853,0006,797,00011,551,00011,500,00011,472,00011,445,00016,916,00015,785,00015,269,00015,410,00016,058,00016,660,00018,277,00021,616,000
Amortisation000000000000000
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
Stock357,000-130,000-236,000392,000-77,000468,000331,000-1,118,000292,000484,00032,000660,0001,643,000-124,0003,830,000
Debtors-14,607,000-97,432,00095,395,000-12,754,00019,988,00011,520,0005,299,0009,006,000545,0004,434,0001,787,000-13,462,000-20,365,000-25,603,00078,247,000
Creditors-26,247,000-40,518,00066,626,000320,000-301,000-830,000-2,018,0003,106,000-334,000507,000-382,000307,000-136,000-70,0001,089,000
Accruals and Deferred Income1,622,000-6,835,00023,143,0004,949,000444,000-8,629,0004,015,000-2,614,000305,000-277,0003,469,000-3,807,000-4,073,000-718,00022,279,000
Deferred Taxes & Provisions-55,550,00034,063,00064,685,0005,862,000-7,357,00010,680,0004,478,00011,489,000-3,789,0002,391,000-5,841,000-12,761,000-28,338,000-13,214,00093,753,000
Cash flow from operations-20,756,000124,007,00080,048,00044,631,000-3,155,0009,667,00069,477,00052,014,00059,143,00055,819,00059,079,00056,696,00023,947,00075,727,00091,980,000
Investing Activities
capital expenditure00000-459,000-162,000-19,366,000-235,000-4,608,000-134,000-3,759,0000-4,702,000-1,467,000
Change in Investments000000000000000
cash flow from investments00000-459,000-162,000-19,366,000-235,000-4,608,000-134,000-3,759,0000-4,702,000-1,467,000
Financing Activities
Bank loans000000000000000
Group/Directors Accounts0000000000-2,199,0002,199,000000
Other Short Term Loans 0000000-3,666,000-10,801,000-7,133,000000021,600,000
Long term loans00000000-3,666,000-14,467,000-21,600,000-21,600,000-21,600,000-21,600,000104,533,000
Hire Purchase and Lease Commitments000000000000000
other long term liabilities000000000000000
share issue0000000004,186,000000082,527,000
interest582,000-815,000-133,000-157,000-134,000-275,00025,00028,000-782,000-2,662,000-4,612,000-6,580,000-8,466,000-10,423,000-11,862,000
cash flow from financing582,000-815,000-133,000-157,000-134,000-275,00025,000-3,638,000-15,249,000-20,076,000-28,411,000-25,981,000-30,066,000-32,023,000196,798,000
cash and cash equivalents
cash-617,000-48,049,00079,394,00010,094,000-9,581,0008,972,000-1,746,000-18,324,00016,659,0002,422,000-212,00012,710,000-14,119,0005,989,00010,145,000
overdraft0000000000-6,754,0006,754,000000
change in cash-617,000-48,049,00079,394,00010,094,000-9,581,0008,972,000-1,746,000-18,324,00016,659,0002,422,0006,542,0005,956,000-14,119,0005,989,00010,145,000

seabank power limited Credit Report and Business Information

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Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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Seabank Power Limited Competitor Analysis

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Perform a competitor analysis for seabank power limited by selecting its closest rivals and benchmarking them against 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 Shareholders

electricity first ltd 50%
sse seabank investments ltd 50%

seabank power limited directors

Seabank Power Limited currently has 8 directors. The longest serving directors include Mr Neil McGee (May 2010) and Mr Andrew Hunter (May 2010).

officercountryagestartendrole
Mr Neil McGeeChina72 years May 2010- Director
Mr Andrew HunterEngland65 years May 2010- Director
Mr Chao TsaiChina66 years Sep 2010- Director
Mr Duncan MacRaeEngland53 years Jun 2011- Director
Mrs Ann GrayScotland57 years Oct 2019- Director
Mr Adrian Rudd53 years Apr 2022- Director
Mr Adrian RuddEngland53 years Apr 2022- Director
Ms Mandy MacKayScotland48 years Feb 2024- Director

P&L

December 2023

turnover

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 2023

net 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

33

accounts

Full Accounts

ultimate parent company

None

previous names

gigabit services limited (July 1991)

incorporated

UK

address

severn road, hallen, bristol, BS10 7SP

last accounts submitted

December 2023

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.

charges

seabank power limited Companies House Filings - See Documents

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