Midhire Self Drive Rentals Limited

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midhire self drive rentals limited Company Information

Live

MatureSmallLow

Company Number

02686202

Website

www.midhire.co.uk

Registered Address

midhire house drayton road, shirley, solihull, west midlands, B90 4NG

Industry

Renting and leasing of cars and light motor vehicles

Telephone

01217095000

Next Accounts Due

December 2024

Group Structure

View All

Directors

Michael Bowen32 Years

Philip Pinfield11 Years

Shareholders

michael william bowen 88.9%

dianne hill 11.1%

midhire self drive rentals limited Estimated Valuation

£20m

Pomanda estimates the enterprise value of MIDHIRE SELF DRIVE RENTALS LIMITED at £20m based on Net Assets of £9.3m and 2.15x industry multiple (adjusted for liquidity).

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Midhire Self Drive Rentals Limited is a live company located in solihull, B90 4NG with a Companies House number of 02686202. It operates in the renting and leasing of cars and light motor vehicles sector, SIC Code 77110. Founded in February 1992, it's largest shareholder is michael william bowen with a 88.9% stake. Midhire Self Drive Rentals Limited is a mature, small sized company, Pomanda has estimated its turnover at £2.5m with low growth in recent years.

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Pomanda's financial health check has awarded Midhire Self Drive Rentals Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 2 areas for improvement. Company Health Check FAQs

Health Rating5out of 5

4 Strong

5 Regular

2 Weak

Size

annual sales of £2.5m, make it smaller than the average company (£10.8m)

Growth

3 year (CAGR) sales growth of 4%, show it is growing at a similar rate (4.6%)

EXPORT

Midhire Self Drive Rentals Limited's latest turnover from March 2023 is estimated at £2.5 million and the company has net assets of £9.3 million. According to their latest financial statements, Midhire Self Drive Rentals Limited has 8 employees and maintains cash reserves of £4.8 million as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Turnover	2,542,499	1,673,376	2,649,023	2,271,268	2,656,188	1,964,158	2,352,808	1,996,483	3,040,961	2,661,176	1,961,071	2,801,747	1,623,212	2,723,859
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,729,428	1,178,440	2,033,131	1,714,865	1,924,530	1,382,673	1,652,978	1,446,853	2,213,519	1,894,378	1,390,241	1,969,453	1,132,528	1,892,787
Gross Profit	813,071	494,936	615,892	556,403	731,658	581,485	699,830	549,630	827,442	766,798	570,830	832,294	490,684	831,072
Admin Expenses	-638,641	-502,945	251,584	126,168	312,582	350,246	-641,208	223,830	245,689	255,878	162,433	534,074	68,346	-2,776,970
Operating Profit	1,451,712	997,881	364,308	430,235	419,076	231,239	1,341,038	325,800	581,753	510,920	408,397	298,220	422,338	3,608,042
Interest Payable	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	183,995	25,916	2,873	2,545	17,442	14,014	6,015	7,404	7,142	6,650	5,056	3,404	2,290	801
Pre-Tax Profit	1,635,706	1,023,798	367,180	432,780	436,517	245,253	1,347,053	333,204	588,895	517,570	413,453	301,624	424,628	3,608,843
Tax	-310,784	-194,522	-69,764	-82,228	-82,938	-46,598	-269,410	-66,641	-123,668	-119,041	-99,229	-78,422	-118,896	-1,010,476
Profit After Tax	1,324,922	829,276	297,416	350,552	353,579	198,655	1,077,642	266,563	465,227	398,529	314,224	223,202	305,732	2,598,367
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	1,324,922	829,276	297,416	350,552	353,579	198,655	1,077,642	266,563	465,227	398,529	314,224	223,202	305,732	2,598,367
Employee Costs	321,927	245,807	267,099	234,496	237,008	208,625	333,227	225,787	335,500	287,623	203,000	286,685	194,361	399,631
Number Of Employees	8	7	8	7	7	7	10	7	11	10	7	10	7	13
EBITDA*	2,386,032	1,827,517	1,138,369	1,157,313	1,091,541	894,114	1,979,061	884,104	1,102,023	999,326	956,911	863,823	901,423	4,029,785

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Tangible Assets	3,349,434	2,792,250	3,035,194	2,853,075	2,690,239	2,480,081	2,509,159	2,855,907	2,676,822	2,429,471	2,414,694	2,685,831	2,680,535	2,503,385
Intangible Assets	1,000	2,000	3,000	4,000	0	0	0	0	0	0	0	0	0	0
Investments & Other	1,408,297	1,408,297	1,689,799	1,408,297	1,408,297	1,253,624	917,100	591,839	591,839	446,738	200,013	32,100	32,100	32,100
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	51,446	35,778	30,885	0	0
Total Fixed Assets	4,758,731	4,202,547	4,727,993	4,265,372	4,098,536	3,733,705	3,426,259	3,447,746	3,268,661	2,927,655	2,650,485	2,748,816	2,712,635	2,535,485
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	281,467	144,323	120,161	222,896	359,496	259,149	224,240	294,699	366,321	259,392	190,473	331,927	188,767	330,617
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	856,861	728,744	769,537	501,378	516,460	504,316	92,320	2,861	2,080	0	0	0	0	4,574
Cash	4,751,391	3,907,181	3,003,804	2,741,281	2,348,437	2,302,658	3,303,018	1,508,985	1,452,654	1,404,230	1,255,882	766,380	595,243	320,567
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	5,889,719	4,780,248	3,893,502	3,465,555	3,224,393	3,066,123	3,619,578	1,806,545	1,821,055	1,663,622	1,446,355	1,098,307	784,010	655,758
total assets	10,648,450	8,982,795	8,621,495	7,730,927	7,322,929	6,799,828	7,045,837	5,254,291	5,089,716	4,591,277	4,096,840	3,847,123	3,496,645	3,191,243
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	285,405	286,446	621,405	390,653	381,117	234,914	370,594	66,589	302,403	395,691	283,633	351,057	239,132	276,844
Group/Directors Accounts	46,258	46,008	46,008	46,008	46,008	46,008	46,008	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	0	0	0	0	0	0	0	0	0	0
other current liabilities	409,341	141,654	401,706	46,745	81,237	101,353	410,424	81,417	0	0	0	0	0	0
total current liabilities	741,004	474,108	1,069,119	483,406	508,362	382,275	827,026	148,006	302,403	395,691	283,633	351,057	239,132	276,844
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	52,017	0	0	0	0	0	0	0	0	0	0	0	0
provisions	589,396	455,813	380,232	372,230	266,573	220,092	220,005	230,609	178,200	51,700	67,850	64,933	49,582	12,200
total long term liabilities	589,396	507,830	380,232	372,230	266,573	220,092	220,005	230,609	178,200	51,700	67,850	64,933	49,582	12,200
total liabilities	1,330,400	981,938	1,449,351	855,636	774,935	602,367	1,047,031	378,615	480,603	447,391	351,483	415,990	288,714	289,044
net assets	9,318,050	8,000,857	7,172,144	6,875,291	6,547,994	6,197,461	5,998,806	4,875,676	4,609,113	4,143,886	3,745,357	3,431,133	3,207,931	2,902,199
total shareholders funds	9,318,050	8,000,857	7,172,144	6,875,291	6,547,994	6,197,461	5,998,806	4,875,676	4,609,113	4,143,886	3,745,357	3,431,133	3,207,931	2,902,199

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Operating Activities
Operating Profit	1,451,712	997,881	364,308	430,235	419,076	231,239	1,341,038	325,800	581,753	510,920	408,397	298,220	422,338	3,608,042
Depreciation	933,320	828,636	773,061	727,078	672,465	662,875	638,023	558,304	520,270	488,406	548,514	565,603	479,085	421,743
Amortisation	1,000	1,000	1,000	0	0	0	0	0	0	0	0	0	0	0
Tax	-310,784	-194,522	-69,764	-82,228	-82,938	-46,598	-269,410	-66,641	-123,668	-119,041	-99,229	-78,422	-118,896	-1,010,476
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	265,261	-16,631	165,424	-151,682	112,491	446,905	19,000	-70,841	57,563	84,587	-136,561	174,045	-146,424	335,191
Creditors	-1,041	-334,959	230,752	9,536	146,203	-135,680	304,005	-235,814	-93,288	112,058	-67,424	111,925	-37,712	276,844
Accruals and Deferred Income	267,687	-260,052	354,961	-34,492	-20,116	-309,071	329,007	81,417	0	0	0	0	0	0
Deferred Taxes & Provisions	133,583	75,581	8,002	105,657	46,481	87	-10,604	52,409	126,500	-16,150	2,917	15,351	37,382	12,200
Cash flow from operations	2,210,216	1,130,196	1,496,896	1,307,468	1,068,680	-44,053	2,313,059	786,316	954,004	891,606	929,736	738,632	928,621	2,973,162
Investing Activities
capital expenditure	-1,490,504	-585,692	-955,180	-893,914	-882,623	-633,797	-291,275	-737,389	-767,621	-503,183	-277,377	-570,899	-656,235	-2,925,128
Change in Investments	0	-281,502	281,502	0	154,673	336,524	325,261	0	145,101	246,725	167,913	0	0	32,100
cash flow from investments	-1,490,504	-304,190	-1,236,682	-893,914	-1,037,296	-970,321	-616,536	-737,389	-912,722	-749,908	-445,290	-570,899	-656,235	-2,957,228
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	250	0	0	0	0	0	46,008	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	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	-52,017	52,017	0	0	0	0	0	0	0	0	0	0	0	0
share issue	-7,729	-563	-563	-23,255	-3,046	0	45,488	0	0	0	0	0	0	303,832
interest	183,995	25,916	2,873	2,545	17,442	14,014	6,015	7,404	7,142	6,650	5,056	3,404	2,290	801
cash flow from financing	124,499	77,370	2,310	-20,710	14,396	14,014	97,511	7,404	7,142	6,650	5,056	3,404	2,290	304,633
cash and cash equivalents
cash	844,210	903,377	262,523	392,844	45,779	-1,000,360	1,794,033	56,331	48,424	148,348	489,502	171,137	274,676	320,567
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	844,210	903,377	262,523	392,844	45,779	-1,000,360	1,794,033	56,331	48,424	148,348	489,502	171,137	274,676	320,567

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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MIDHIRE SELF DRIVE RENTALS LIMITED group structure

Midhire Self Drive Rentals Limited has no subsidiary companies.

Ultimate parent company

MIDHIRE SELF DRIVE RENTALS LIMITED

02686202

MIDHIRE SELF DRIVE RENTALS LIMITED Shareholders

michael william bowen	88.86%
dianne hill	11.14%

Midhire Self Drive Rentals Limited currently has 2 directors. The longest serving directors include Mr Michael Bowen (Feb 1992) and Mr Philip Pinfield (Feb 2013).

officer	country	age	start	end	role
Mr Michael Bowen		66 years	Feb 1992	-	Director
Mr Philip Pinfield		66 years	Feb 2013	-	Director

P&L

March 2023

turnover

2.5m

+52%

operating profit

1.5m

gross margin

32%

+8.12%

turnover

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

Balance Sheet

March 2023

net assets

9.3m

+0.16%

total assets

10.6m

+0.19%

cash

4.8m

+0.22%

net assets

Total assets minus all liabilities

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company number

02686202

Type

Private limited with Share Capital

industry

77110 - Renting and leasing of cars and light motor vehicles

incorporation date

February 1992

age

accounts

Total Exemption Full

ultimate parent company

None

previous names

N/A

incorporated

address

midhire house drayton road, shirley, solihull, west midlands, B90 4NG

last accounts submitted

March 2023

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 did not find charges/mortgages relating to midhire self drive rentals limited.

midhire self drive rentals limited Company Information

midhire self drive rentals limited Estimated Valuation

midhire self drive rentals limited Estimated Valuation

midhire self drive rentals limited Estimated Valuation

Midhire Self Drive Rentals Limited Overview

Midhire Self Drive Rentals Limited Health Check

MIDHIRE SELF DRIVE RENTALS LIMITED financials

midhire self drive rentals limited Credit Report and Business Information

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midhire self drive rentals limited Ownership

midhire self drive rentals limited directors

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