Source (ec) Limited

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source (ec) limited Company Information

Live

MatureSmallDeclining

Company Number

02613081

Website

www.sourcelabels.com

Registered Address

vision house hamilton way, mansfield, nottinghamshire, NG18 5BU

Industry

Manufacture of printed labels

Telephone

01892547000

Next Accounts Due

July 2024

Group Structure

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Directors

Timothy Lowe32 Years

Ian Kendall0 Years

View All

Shareholders

agk world-wide logistics limited 100%

source (ec) limited Estimated Valuation

£1.1m

Pomanda estimates the enterprise value of SOURCE (EC) LIMITED at £1.1m based on Net Assets of £640k and 1.75x industry multiple (adjusted for liquidity).

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Source (ec) Limited is a live company located in nottinghamshire, NG18 5BU with a Companies House number of 02613081. It operates in the manufacture of printed labels sector, SIC Code 18121. Founded in May 1991, it's largest shareholder is agk world-wide logistics limited with a 100% stake. Source (ec) Limited is a mature, small sized company, Pomanda has estimated its turnover at £1.5m with declining growth in recent years.

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Pomanda's financial health check has awarded Source (Ec) Limited a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 4 areas for improvement. Company Health Check FAQs

Health Rating4.5out of 5

3 Strong

4 Regular

4 Weak

Size

annual sales of £1.5m, make it smaller than the average company (£12.4m)

Growth

3 year (CAGR) sales growth of -6%, show it is growing at a slower rate (5.2%)

EXPORT

Source (Ec) Limited's latest turnover from October 2022 is estimated at £1.5 million and the company has net assets of £640 thousand. According to their latest financial statements, Source (Ec) Limited has 4 employees and maintains cash reserves of £675.1 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Oct 2022	Oct 2021	Oct 2020	Oct 2019	Oct 2018	Oct 2017	Oct 2016	Oct 2015	Oct 2014	Oct 2013	Oct 2012	Oct 2011	Oct 2010	Oct 2009
Turnover	1,545,628	1,363,600	1,696,699	1,885,462	1,473,619	1,027,920	994,503	1,725,795	1,304,195	1,524,920	1,138,060	1,354,944	1,265,413	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,060,481	982,922	1,214,988	1,346,688	1,000,651	706,806	687,552	1,188,022	902,084	1,032,632	721,716	805,208	754,170	0
Gross Profit	485,147	380,678	481,711	538,775	472,968	321,114	306,952	537,773	402,111	492,288	416,343	549,736	511,243	0
Admin Expenses	334,596	328,743	601,562	301,817	389,785	309,301	360,560	392,429	395,743	392,155	490,035	508,928	433,723	-204,571
Operating Profit	150,551	51,935	-119,851	236,958	83,183	11,813	-53,608	145,344	6,368	100,133	-73,692	40,808	77,520	204,571
Interest Payable	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	13,607	487	471	3,005	1,896	608	658	906	698	684	982	1,141	851	415
Pre-Tax Profit	164,158	52,422	-119,380	239,963	85,079	12,421	-52,950	146,250	7,066	100,817	-72,710	41,949	78,371	204,986
Tax	-31,190	-9,960	0	-45,593	-16,165	-2,360	0	-29,250	-1,484	-23,188	0	-10,907	-21,944	-57,396
Profit After Tax	132,968	42,462	-119,380	194,370	68,914	10,061	-52,950	117,000	5,582	77,629	-72,710	31,042	56,427	147,590
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	132,968	42,462	-119,380	194,370	68,914	10,061	-52,950	117,000	5,582	77,629	-72,710	31,042	56,427	147,590
Employee Costs	140,356	134,849	160,168	130,484	178,238	168,115	152,148	430,893	287,712	386,744	272,331	369,435	362,339	0
Number Of Employees	4	4	5	4	5	5	5	14	10	12	9	13	13	0
EBITDA*	158,522	56,508	-113,911	242,188	89,283	19,095	-44,604	148,633	9,869	103,805	-71,416	44,312	82,010	209,760

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Oct 2022	Oct 2021	Oct 2020	Oct 2019	Oct 2018	Oct 2017	Oct 2016	Oct 2015	Oct 2014	Oct 2013	Oct 2012	Oct 2011	Oct 2010	Oct 2009
Tangible Assets	7,786	12,086	8,999	12,468	16,270	19,229	25,923	9,549	10,401	13,437	8,613	6,655	16,428	16,312
Intangible Assets	12,716	14,532	16,349	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	20,502	26,618	25,348	12,468	16,270	19,229	25,923	9,549	10,401	13,437	8,613	6,655	16,428	16,312
Stock & work in progress	0	0	0	0	0	262	0	2,670	7,822	0	0	0	0	0
Trade Debtors	381,019	335,821	421,945	557,854	422,076	365,753	253,826	485,378	405,871	358,811	268,526	288,895	277,673	125,728
Group Debtors	0	0	0	0	73,188	109,210	0	0	0	0	0	0	0	0
Misc Debtors	113,084	99,832	0	0	68,161	6,942	103,067	0	0	0	0	0	0	0
Cash	675,082	534,408	439,979	501,068	300,387	205,292	281,095	245,390	116,942	162,298	111,176	281,682	174,550	165,940
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	1,169,185	970,061	861,924	1,058,922	863,812	687,459	637,988	733,438	530,635	521,109	379,702	570,577	452,223	291,668
total assets	1,189,687	996,679	887,272	1,071,390	880,082	706,688	663,911	742,987	541,036	534,546	388,315	577,232	468,651	307,980
Bank overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	431,826	410,358	420,577	485,315	370,703	278,740	228,920	377,758	292,702	291,297	223,617	340,293	262,600	159,189
Group/Directors Accounts	0	0	0	0	0	1,574	0	0	0	0	0	0	0	0
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	4,338	3,808	3,279	0	0	0	0	0	0	0
other current liabilities	115,994	76,988	0	0	103,776	85,032	98,878	0	0	0	0	0	0	0
total current liabilities	547,820	487,346	420,577	485,315	478,817	369,154	331,077	377,758	292,702	291,297	223,617	340,293	262,600	159,189
loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	9,031	13,369	17,177	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
provisions	1,862	2,296	2,120	2,120	2,649	3,494	5,047	1,669	1,774	2,271	1,349	880	1,034	201
total long term liabilities	1,862	2,296	2,120	2,120	11,680	16,863	22,224	1,669	1,774	2,271	1,349	880	1,034	201
total liabilities	549,682	489,642	422,697	487,435	490,497	386,017	353,301	379,427	294,476	293,568	224,966	341,173	263,634	159,390
net assets	640,005	507,037	464,575	583,955	389,585	320,671	310,610	363,560	246,560	240,978	163,349	236,059	205,017	148,590
total shareholders funds	640,005	507,037	464,575	583,955	389,585	320,671	310,610	363,560	246,560	240,978	163,349	236,059	205,017	148,590

	Oct 2022	Oct 2021	Oct 2020	Oct 2019	Oct 2018	Oct 2017	Oct 2016	Oct 2015	Oct 2014	Oct 2013	Oct 2012	Oct 2011	Oct 2010	Oct 2009
Operating Activities
Operating Profit	150,551	51,935	-119,851	236,958	83,183	11,813	-53,608	145,344	6,368	100,133	-73,692	40,808	77,520	204,571
Depreciation	6,155	2,756	4,123	5,230	6,100	7,282	9,004	3,289	3,501	3,672	2,276	3,504	4,490	5,189
Amortisation	1,816	1,817	1,817	0	0	0	0	0	0	0	0	0	0	0
Tax	-31,190	-9,960	0	-45,593	-16,165	-2,360	0	-29,250	-1,484	-23,188	0	-10,907	-21,944	-57,396
Stock	0	0	0	0	-262	262	-2,670	-5,152	7,822	0	0	0	0	0
Debtors	58,450	13,708	-135,909	-5,571	81,520	125,012	-128,485	79,507	47,060	90,285	-20,369	11,222	151,945	125,728
Creditors	21,468	-10,219	-64,738	114,612	91,963	49,820	-148,838	85,056	1,405	67,680	-116,676	77,693	103,411	159,189
Accruals and Deferred Income	39,006	76,988	0	-103,776	18,744	-13,846	98,878	0	0	0	0	0	0	0
Deferred Taxes & Provisions	-434	176	0	-529	-845	-1,553	3,378	-105	-497	922	469	-154	833	201
Cash flow from operations	128,922	99,785	-42,740	212,473	101,722	-74,118	39,969	129,979	-45,589	58,934	-167,254	99,722	12,365	186,026
Investing Activities
capital expenditure	-1,855	-5,843	-18,820	-1,428	-3,141	-588	-25,378	-2,437	-465	-8,496	-4,234	6,269	-4,606	-21,501
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-1,855	-5,843	-18,820	-1,428	-3,141	-588	-25,378	-2,437	-465	-8,496	-4,234	6,269	-4,606	-21,501
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	0	0	-1,574	1,574	0	0	0	0	0	0	0	0
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	-13,369	-3,808	-3,279	20,456	0	0	0	0	0	0	0
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	0	0	0	0	0	0	0	0	0	0	0	0	0	1,000
interest	13,607	487	471	3,005	1,896	608	658	906	698	684	982	1,141	851	415
cash flow from financing	13,607	487	471	-10,364	-3,486	-1,097	21,114	906	698	684	982	1,141	851	1,415
cash and cash equivalents
cash	140,674	94,429	-61,089	200,681	95,095	-75,803	35,705	128,448	-45,356	51,122	-170,506	107,132	8,610	165,940
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	140,674	94,429	-61,089	200,681	95,095	-75,803	35,705	128,448	-45,356	51,122	-170,506	107,132	8,610	165,940

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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SOURCE (EC) LIMITED group structure

Source (Ec) Limited has no subsidiary companies.

Ultimate parent company

LABEL RESEARCH & DEVELOPMENT LIMITED

04047268

1 parent

SOURCE (EC) LIMITED

02613081

SOURCE (EC) LIMITED Shareholders

agk world-wide logistics limited

100%

Source (Ec) Limited currently has 3 directors. The longest serving directors include Mr Timothy Lowe (May 1992) and Mr Ian Kendall (Mar 2024).

officer	country	age	start	end	role
Mr Timothy Lowe	England	61 years	May 1992	-	Director
Mr Ian Kendall	England	59 years	Mar 2024	-	Director
Mr Gary Tomlin	England	54 years	Mar 2024	-	Director

P&L

October 2022

turnover

1.5m

+13%

operating profit

150.6k

gross margin

31.4%

+12.43%

turnover

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

Balance Sheet

October 2022

net assets

640k

+0.26%

total assets

1.2m

+0.19%

cash

675.1k

+0.26%

net assets

Total assets minus all liabilities

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company number

02613081

Type

Private limited with Share Capital

industry

18121 - Manufacture of printed labels

incorporation date

May 1991

age

accounts

Total Exemption Full

ultimate parent company

LABEL RESEARCH & DEVELOPMENT LIMITED

previous names

N/A

incorporated

address

vision house hamilton way, mansfield, nottinghamshire, NG18 5BU

last accounts submitted

October 2022

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 2 charges/mortgages relating to source (ec) limited. Currently there are 0 open charges and 2 have been satisfied in the past.

source (ec) limited Company Information

source (ec) limited Estimated Valuation

source (ec) limited Estimated Valuation

source (ec) limited Estimated Valuation

Source (ec) Limited Overview

Source (ec) Limited Health Check

SOURCE (EC) LIMITED financials

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Source (ec) Limited Competitor Analysis

source (ec) limited Ownership

source (ec) limited directors

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source (ec) limited Companies House Filings - See Documents