tenetconnect limited
tenetconnect limited Company Information
Company Number
02654877
Website
https://www.tenet.co.ukRegistered Address
c/o interpath advisory, 10 fleet place, london, EC4M 7RB
Industry
Other financial service activities, except insurance and pension funding, (not including security dealing on own account and factoring) n.e.c.
Telephone
01132390011
Next Accounts Due
112 days late
Group Structure
View All
Shareholders
tenet limited 100%
tenetconnect limited Estimated Valuation
Pomanda estimates the enterprise value of TENETCONNECT LIMITED at £117.9m based on a Turnover of £67.9m and 1.74x industry multiple (adjusted for size and gross margin).
tenetconnect limited Estimated Valuation
Pomanda estimates the enterprise value of TENETCONNECT LIMITED at £58.7m based on an EBITDA of £8.4m and a 6.97x industry multiple (adjusted for size and gross margin).
tenetconnect limited Estimated Valuation
Pomanda estimates the enterprise value of TENETCONNECT LIMITED at £35.3m based on Net Assets of £17.6m and 2.01x industry multiple (adjusted for liquidity).
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Tenetconnect Limited Overview
Tenetconnect Limited is a live company located in london, EC4M 7RB with a Companies House number of 02654877. It operates in the financial intermediation not elsewhere classified sector, SIC Code 64999. Founded in October 1991, it's largest shareholder is tenet limited with a 100% stake. Tenetconnect Limited is a mature, large sized company, Pomanda has estimated its turnover at £67.9m with declining growth in recent years.
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Tenetconnect Limited Health Check
Pomanda's financial health check has awarded Tenetconnect Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 2 areas for improvement. Company Health Check FAQs
5 Strong
4 Regular
2 Weak
Size
annual sales of £67.9m, make it larger than the average company (£3.7m)
£67.9m - Tenetconnect Limited
£3.7m - Industry AVG
Growth
3 year (CAGR) sales growth of -5%, show it is growing at a slower rate (2.6%)
-5% - Tenetconnect Limited
2.6% - Industry AVG
Production
with a gross margin of 9.7%, this company has a higher cost of product (62.8%)
9.7% - Tenetconnect Limited
62.8% - Industry AVG
Profitability
an operating margin of 12.4% make it as profitable than the average company (12.7%)
12.4% - Tenetconnect Limited
12.7% - Industry AVG
Employees
with 67 employees, this is above the industry average (12)
67 - Tenetconnect Limited
12 - Industry AVG
Pay Structure
on an average salary of £63.4k, the company has an equivalent pay structure (£71.4k)
£63.4k - Tenetconnect Limited
£71.4k - Industry AVG
Efficiency
resulting in sales per employee of £1m, this is more efficient (£210.7k)
£1m - Tenetconnect Limited
£210.7k - Industry AVG
Debtor Days
it gets paid by customers after 32 days, this is near the average (29 days)
32 days - Tenetconnect Limited
29 days - Industry AVG
Creditor Days
its suppliers are paid after 40 days, this is close to average (40 days)
40 days - Tenetconnect Limited
40 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Tenetconnect Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 99 weeks, this is more cash available to meet short term requirements (39 weeks)
99 weeks - Tenetconnect Limited
39 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 44.3%, this is a lower level of debt than the average (57.5%)
44.3% - Tenetconnect Limited
57.5% - Industry AVG
TENETCONNECT LIMITED financials
Tenetconnect Limited's latest turnover from September 2022 is £67.9 million and the company has net assets of £17.6 million. According to their latest financial statements, Tenetconnect Limited has 67 employees and maintains cash reserves of £17.4 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Sep 2022 | Sep 2021 | Sep 2020 | Sep 2019 | Sep 2018 | Sep 2017 | Sep 2016 | Sep 2015 | Sep 2014 | Sep 2013 | Sep 2012 | Sep 2011 | Sep 2010 | Sep 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 67,938,000 | 70,981,000 | 78,049,000 | 78,127,000 | 79,542,000 | 92,768,000 | 87,816,826 | 78,482,889 | 77,345,119 | 74,576,877 | 52,198,419 | 38,461,885 | 31,061,836 | 30,427,539 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 61,375,000 | 64,989,000 | 70,982,000 | 71,137,000 | 73,330,000 | 84,157,000 | 79,133,884 | 69,965,839 | 68,450,997 | 66,325,898 | 44,781,858 | 31,872,244 | 24,838,336 | 24,243,012 |
| Gross Profit | 6,563,000 | 5,992,000 | 7,067,000 | 6,990,000 | 6,212,000 | 8,611,000 | 8,682,942 | 8,517,050 | 8,894,122 | 8,250,979 | 7,416,561 | 6,589,641 | 6,223,500 | 6,184,527 |
| Admin Expenses | -1,861,000 | 18,000,000 | 7,655,000 | 6,715,000 | 6,263,000 | 9,544,000 | 8,294,898 | 8,372,665 | 8,296,758 | 7,034,416 | 8,417,471 | 5,500,616 | 4,657,942 | 4,713,920 |
| Operating Profit | 8,424,000 | -12,008,000 | -588,000 | 275,000 | -51,000 | -933,000 | 388,044 | 144,385 | 597,364 | 1,216,563 | -1,000,910 | 1,089,025 | 1,565,558 | 1,470,607 |
| Interest Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 14,987 | 8,439 |
| Interest Receivable | 26,000 | 21,000 | 56,000 | 96,000 | 45,000 | 52,000 | 65,130 | 79,499 | 127,675 | 112,748 | 82,715 | 90,378 | 57,203 | 118,490 |
| Pre-Tax Profit | 8,450,000 | -11,987,000 | -532,000 | 2,371,000 | -6,000 | -881,000 | 453,174 | 223,884 | 725,039 | 1,329,311 | -918,195 | 1,179,398 | 1,607,774 | 1,580,658 |
| Tax | -124,000 | -22,000 | 20,000 | 67,000 | -54,000 | 53,000 | -24,154 | -2,722 | 19,925 | -76,929 | 73,000 | -115,804 | -218,273 | 43,490 |
| Profit After Tax | 8,326,000 | -12,009,000 | -512,000 | 2,438,000 | -60,000 | -828,000 | 429,020 | 221,162 | 744,964 | 1,252,382 | -845,195 | 1,063,594 | 1,389,501 | 1,624,148 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 515,070 | 1,782,936 | 2,060,282 |
| Retained Profit | 8,326,000 | -12,009,000 | -512,000 | 2,438,000 | -60,000 | -828,000 | 429,020 | 221,162 | 744,964 | 1,252,382 | -845,195 | 548,524 | -393,435 | -436,134 |
| Employee Costs | 4,248,000 | 3,767,000 | 4,911,000 | 4,621,000 | 4,199,000 | 4,374,000 | 3,815,926 | 3,821,815 | 3,481,953 | 3,175,616 | 3,076,386 | 2,703,711 | 2,139,663 | 2,271,142 |
| Number Of Employees | 67 | 58 | 102 | 103 | 98 | 107 | 101 | 101 | 99 | 82 | 74 | 71 | 68 | 65 |
| EBITDA* | 8,424,000 | -12,008,000 | -581,000 | 343,000 | 18,000 | -856,000 | 506,200 | 316,672 | 741,025 | 1,326,754 | -975,294 | 1,122,973 | 1,611,170 | 1,516,219 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Sep 2022 | Sep 2021 | Sep 2020 | Sep 2019 | Sep 2018 | Sep 2017 | Sep 2016 | Sep 2015 | Sep 2014 | Sep 2013 | Sep 2012 | Sep 2011 | Sep 2010 | Sep 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 67,000 | 67,000 | 590,000 | 597,000 | 665,000 | 734,000 | 810,683 | 928,839 | 1,101,126 | 1,244,787 | 1,315,812 | 703,928 | 737,876 | 783,488 |
| Investments & Other | 2,570,000 | 2,570,000 | 2,570,000 | 2,570,000 | 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 | 2,637,000 | 2,637,000 | 3,160,000 | 3,167,000 | 665,000 | 734,000 | 810,683 | 928,839 | 1,101,126 | 1,244,787 | 1,315,812 | 703,928 | 737,876 | 783,488 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 6,048,000 | 6,335,000 | 7,400,000 | 2,377,000 | 1,357,000 | 4,128,000 | 4,098,033 | 3,641,709 | 4,094,598 | 4,152,651 | 5,062,488 | 5,461,012 | 4,326,444 | 3,508,142 |
| Group Debtors | 5,167,000 | 6,242,000 | 2,378,000 | 3,140,000 | 2,611,000 | 642,000 | 2,682,982 | 1,404,406 | 910,617 | 2,192,018 | 668,243 | 1,060,459 | 1,596,652 | 5,847,064 |
| Misc Debtors | 390,000 | 1,307,000 | 598,000 | 146,000 | 206,000 | 101,000 | 0 | 51,814 | 0 | 2,737 | 0 | 0 | 1,210 | 137,812 |
| Cash | 17,379,000 | 5,125,000 | 8,560,000 | 11,665,000 | 10,276,000 | 10,686,000 | 8,379,529 | 7,858,336 | 8,553,010 | 9,186,891 | 6,794,565 | 4,470,309 | 4,768,718 | 561,188 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 156,828 | 4,715 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 28,984,000 | 19,009,000 | 18,936,000 | 17,328,000 | 14,450,000 | 15,557,000 | 15,317,372 | 12,960,980 | 13,558,225 | 15,534,297 | 12,525,296 | 10,991,780 | 10,693,024 | 10,054,206 |
| total assets | 31,621,000 | 21,646,000 | 22,096,000 | 20,495,000 | 15,115,000 | 16,291,000 | 16,128,055 | 13,889,819 | 14,659,351 | 16,779,084 | 13,841,108 | 11,695,708 | 11,430,900 | 10,837,694 |
| 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 | 6,891,000 | 7,484,000 | 9,256,000 | 5,151,000 | 3,220,000 | 4,751,000 | 4,408,473 | 3,761,599 | 3,655,991 | 3,582,013 | 2,857,377 | 2,507,692 | 1,305,594 | 1,238,783 |
| Group/Directors Accounts | 0 | 2,931,000 | 2,487,000 | 4,494,000 | 3,019,000 | 2,053,000 | 1,074,275 | 3,989 | 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 2,177,000 | 780,000 | 1,235,000 | 1,108,000 | 1,228,000 | 54,000 | 111,816 | 86,511 | 887,679 | 466,078 | 1,678,745 | 347,289 | 1,063,068 | 953,595 |
| total current liabilities | 9,068,000 | 11,195,000 | 12,978,000 | 10,753,000 | 7,467,000 | 6,858,000 | 5,594,564 | 3,852,099 | 4,543,670 | 4,048,091 | 4,536,122 | 2,854,981 | 2,368,662 | 2,192,378 |
| loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 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 | 4,950,000 | 14,174,000 | 832,000 | 944,000 | 1,288,000 | 3,013,000 | 3,285,410 | 3,218,659 | 7,035,564 | 13,756,116 | 9,408,866 | 8,289,958 | 9,830,028 | 8,209,314 |
| total long term liabilities | 4,950,000 | 14,174,000 | 832,000 | 944,000 | 1,288,000 | 3,013,000 | 3,285,410 | 3,218,659 | 3,517,782 | 6,878,058 | 4,704,433 | 4,144,979 | 4,915,014 | 4,104,657 |
| total liabilities | 14,018,000 | 25,369,000 | 13,810,000 | 11,697,000 | 8,755,000 | 9,871,000 | 8,879,974 | 7,070,758 | 8,061,452 | 10,926,149 | 9,240,555 | 6,999,960 | 7,283,676 | 6,297,035 |
| net assets | 17,603,000 | -3,723,000 | 8,286,000 | 8,798,000 | 6,360,000 | 6,420,000 | 7,248,081 | 6,819,061 | 6,597,899 | 5,852,935 | 4,600,553 | 4,695,748 | 4,147,224 | 4,540,659 |
| total shareholders funds | 17,603,000 | -3,723,000 | 8,286,000 | 8,798,000 | 6,360,000 | 6,420,000 | 7,248,081 | 6,819,061 | 6,597,899 | 5,852,935 | 4,600,553 | 4,695,748 | 4,147,224 | 4,540,659 |
| Sep 2022 | Sep 2021 | Sep 2020 | Sep 2019 | Sep 2018 | Sep 2017 | Sep 2016 | Sep 2015 | Sep 2014 | Sep 2013 | Sep 2012 | Sep 2011 | Sep 2010 | Sep 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||
| Operating Profit | 8,424,000 | -12,008,000 | -588,000 | 275,000 | -51,000 | -933,000 | 388,044 | 144,385 | 597,364 | 1,216,563 | -1,000,910 | 1,089,025 | 1,565,558 | 1,470,607 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Amortisation | 0 | 0 | 7,000 | 68,000 | 69,000 | 77,000 | 118,156 | 172,287 | 143,661 | 110,191 | 25,616 | 33,948 | 45,612 | 45,612 |
| Tax | -124,000 | -22,000 | 20,000 | 67,000 | -54,000 | 53,000 | -24,154 | -2,722 | 19,925 | -76,929 | 73,000 | -115,804 | -218,273 | 43,490 |
| Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors | -2,279,000 | 3,508,000 | 4,713,000 | 1,489,000 | -697,000 | -1,910,015 | 1,683,086 | 92,714 | -1,342,191 | 616,675 | -790,740 | 597,165 | -3,568,712 | 9,493,018 |
| Creditors | -593,000 | -1,772,000 | 4,105,000 | 1,931,000 | -1,531,000 | 342,527 | 646,874 | 105,608 | 73,978 | 724,636 | 349,685 | 1,202,098 | 66,811 | 1,238,783 |
| Accruals and Deferred Income | 1,397,000 | -455,000 | 127,000 | -120,000 | 1,174,000 | -57,816 | 25,305 | -801,168 | 421,601 | -1,212,667 | 1,331,456 | -715,779 | 109,473 | 953,595 |
| Deferred Taxes & Provisions | -9,224,000 | 13,342,000 | -112,000 | -344,000 | -1,725,000 | -272,410 | 66,751 | -3,816,905 | -6,720,552 | 4,347,250 | 1,118,908 | -1,540,070 | 1,620,714 | 8,209,314 |
| Cash flow from operations | 2,159,000 | -4,423,000 | -1,154,000 | 388,000 | 1,119,316 | -462,110 | -4,291,229 | -4,121,832 | 4,492,369 | 2,688,495 | -643,747 | 6,758,607 | 2,468,383 | |
| Investing Activities | ||||||||||||||
| capital expenditure | ||||||||||||||
| Change in Investments | 0 | 0 | 0 | 2,570,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | ||||||||||||||
| Financing Activities | ||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | -2,931,000 | 444,000 | -2,007,000 | 1,475,000 | 966,000 | 978,725 | 1,070,286 | 3,989 | 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 | 0 | 0 | 0 | 0 | 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 | ||||||||||||||
| interest | 26,000 | 21,000 | 56,000 | 96,000 | 45,000 | 52,000 | 65,130 | 79,499 | 127,675 | 112,748 | 82,715 | 90,373 | 42,216 | 110,051 |
| cash flow from financing | 10,095,000 | 465,000 | -1,951,000 | 1,571,000 | 1,011,000 | 1,030,644 | 1,135,416 | 83,488 | 127,675 | 112,748 | 832,715 | 90,373 | 42,216 | 5,086,844 |
| cash and cash equivalents | ||||||||||||||
| cash | 12,254,000 | -3,435,000 | -3,105,000 | 1,389,000 | -410,000 | 2,306,471 | 521,193 | -694,674 | -633,881 | 2,392,326 | 2,324,256 | -298,409 | 4,207,530 | 561,188 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | 12,254,000 | -3,435,000 | -3,105,000 | 1,389,000 | -410,000 | 2,306,471 | 521,193 | -694,674 | -633,881 | 2,392,326 | 2,324,256 | -298,409 | 4,207,530 | 561,188 |
tenetconnect limited Credit Report and Business Information
Tenetconnect Limited Competitor Analysis
Perform a competitor analysis for tenetconnect limited by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other large companies, companies in EC4M area or any other competitors across 12 key performance metrics.
tenetconnect limited Ownership
TENETCONNECT LIMITED group structure
Tenetconnect Limited has 1 subsidiary company.
Ultimate parent company
2 parents
TENETCONNECT LIMITED
02654877
1 subsidiary
tenetconnect limited directors
Tenetconnect Limited currently has 3 directors. The longest serving directors include Mr Richard Fletcher (Jun 2023) and Ms Judith Worthy (Aug 2023).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Richard Fletcher | 45 years | Jun 2023 | - | Director | |
| Ms Judith Worthy | United Kingdom | 59 years | Aug 2023 | - | Director |
| Mr Stephen Vickers | England | 57 years | Apr 2024 | - | Director |
P&L
September 2022turnover
67.9m
-4%
operating profit
8.4m
-170%
gross margin
9.7%
+14.44%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
September 2022net assets
17.6m
-5.73%
total assets
31.6m
+0.46%
cash
17.4m
+2.39%
net assets
Total assets minus all liabilities
tenetconnect limited company details
company number
02654877
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
October 1991
age
33
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
September 2022
previous names
interdependence limited (February 2010)
accountant
-
auditor
PRICEWATERHOUSECOOPERS LLP
address
c/o interpath advisory, 10 fleet place, london, EC4M 7RB
Bank
LLOYDS TSB BANK PLC
Legal Advisor
EVERSHEDS LLP
tenetconnect 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 tenetconnect limited. Currently there are 0 open charges and 4 have been satisfied in the past.
tenetconnect limited Companies House Filings - See Documents
| date | description | view/download |
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