Access Further Education Limited

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access further education limited Company Information

Live

MatureLargeHealthy

Company Number

02749258

Website

www.accesstomusic.co.uk

Registered Address

heath mill studios, 68 heath mill lane, birmingham, west midlands, B9 4AR

Industry

Other education n.e.c.

Telephone

01612478090

Next Accounts Due

April 2025

Group Structure

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Directors

Jason Beaumont4 Years

Paul Smith3 Years

Shareholders

armstrong learning ltd 100%

access further education limited Estimated Valuation

£17.6m

Pomanda estimates the enterprise value of ACCESS FURTHER EDUCATION LIMITED at £17.6m based on a Turnover of £24.9m and 0.71x industry multiple (adjusted for size and gross margin).

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Access Further Education Limited is a live company located in birmingham, B9 4AR with a Companies House number of 02749258. It operates in the other education n.e.c. sector, SIC Code 85590. Founded in September 1992, it's largest shareholder is armstrong learning ltd with a 100% stake. Access Further Education Limited is a mature, large sized company, Pomanda has estimated its turnover at £24.9m with healthy growth in recent years.

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Pomanda's financial health check has awarded Access Further Education Limited a 4 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 Rating4out of 5

6 Strong

1 Regular

4 Weak

Size

annual sales of £24.9m, make it larger than the average company (£523.9k)

Growth

3 year (CAGR) sales growth of 10%, show it is growing at a faster rate (4.3%)

EXPORT

Access Further Education Limited's latest turnover from July 2023 is £24.9 million and the company has net assets of £8.4 million. According to their latest financial statements, Access Further Education Limited has 395 employees and maintains cash reserves of £248.7 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Jul 2023	Jul 2022	Jul 2021	Jul 2020	Jul 2019	Jul 2018	Jul 2017	Jul 2016	Jul 2015	Jul 2014	Jul 2013	Jul 2012	Jul 2011	Jul 2010	Jul 2009
Turnover	24,871,001	22,024,355	21,351,170	18,540,283	17,163,746	13,603,668	11,347,355	10,511,184	11,713,875	9,869,149	8,831,541	7,879,018	7,435,600	7,698,984	6,927,635
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	19,128,549	16,423,374	15,302,026	13,775,743	12,513,483	9,970,696	7,776,932	7,135,965	7,619,355	5,352,372	4,597,646	4,018,861	4,594,769	4,347,577	4,029,843
Gross Profit	5,742,452	5,600,981	6,049,144	4,764,540	4,650,263	3,632,972	3,570,423	3,375,219	4,094,520	4,516,777	4,233,895	3,860,157	2,840,831	3,351,407	2,897,792
Admin Expenses	7,164,275	6,131,782	5,122,444	4,530,954	3,927,456	3,410,237	2,967,503	2,103,471	2,579,442	3,416,630	3,400,151	3,301,701	2,165,372	1,703,124	1,246,364
Operating Profit	-1,421,823	-530,801	926,700	233,586	722,807	222,735	602,920	1,271,748	1,515,078	1,100,147	833,744	558,456	675,459	1,648,283	1,651,428
Interest Payable	447	4,679	5,691	43,357	58,631	21,655	2,433	0	0	463	0	0	3,886	7,550	34,139
Interest Receivable	533,218	316,120	324,184	157,371	151,239	147,071	141,957	141,699	0	0	2,127	0	0	0	52,630
Pre-Tax Profit	-889,052	-219,360	1,245,193	347,600	815,415	348,151	742,444	1,413,447	1,515,078	1,099,684	835,871	558,456	671,573	1,640,733	1,669,919
Tax	441,148	102,810	-282,541	-12,391	-115,385	-44,347	-131,435	-174,510	-257,812	-241,765	-186,663	-17,362	-176,939	-460,208	-468,752
Profit After Tax	-447,904	-116,550	962,652	335,209	700,030	303,804	611,009	1,238,937	1,257,266	857,919	649,208	541,094	494,634	1,180,525	1,201,167
Dividends Paid	0	82,830	0	0	700,000	200,000	0	0	500,000	0	0	0	2,000,000	0	0
Retained Profit	-447,904	-199,380	962,652	335,209	30	103,804	611,009	1,238,937	757,266	857,919	649,208	541,094	-1,505,366	1,180,525	1,201,167
Employee Costs	11,870,535	9,403,500	8,286,678	7,291,928	6,268,439	5,358,306	4,990,024	4,627,090	4,962,080	4,534,295	4,424,828	4,210,237	4,001,380	3,557,525	2,705,611
Number Of Employees	395	380	327	284	245	225	206	216	210	210	203	196	196	181	173
EBITDA*	117,582	777,083	1,961,783	1,137,518	1,240,631	657,577	899,729	1,515,337	1,637,738	1,184,849	970,689	710,387	866,350	1,782,551	1,806,427

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Jul 2023	Jul 2022	Jul 2021	Jul 2020	Jul 2019	Jul 2018	Jul 2017	Jul 2016	Jul 2015	Jul 2014	Jul 2013	Jul 2012	Jul 2011	Jul 2010	Jul 2009
Tangible Assets	8,093,899	6,920,680	4,714,923	2,549,778	2,325,550	1,639,820	1,262,115	1,153,325	1,169,860	840,812	676,128	796,406	900,816	184,881	251,451
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	658
Investments & Other	2	2	2	2	2	2	2	2	2	2	2	0	0	0	0
Debtors (Due After 1 year)	0	5,573,298	5,727,253	5,403,069	5,245,698	0	0	4,822,732	0	5,130,943	4,670,839	1,250,000	1,250,000	1,500,000	1,500,000
Total Fixed Assets	8,093,901	12,493,980	10,442,178	7,952,849	7,571,250	1,639,822	1,262,117	5,976,059	1,169,862	5,971,757	5,346,969	2,046,406	2,150,816	1,684,881	1,752,109
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	443,098	542,294	76,227	9,764	110,085	59,454	101,573	4,290	46,995	13,300	40,850	5,399	167,924	143,652	61,859
Group Debtors	9,393,013	1,089,110	1,452,324	1,269,742	792	5,307,807	5,135,750	0	4,630,943	0	0	1,950,653	1,422,372	1,959,761	1,590,135
Misc Debtors	1,694,560	946,045	1,895,645	1,679,350	3,433,751	2,135,690	2,216,931	1,639,229	425,095	400,892	497,572	269,813	370,630	595,914	175,432
Cash	248,688	325,306	1,686,487	1,872,339	979,307	1,710,475	931,455	1,240,444	1,431,282	487,603	22,950	316,837	116,980	1,034,270	1,157,973
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	11,779,359	2,902,755	5,110,683	4,831,195	4,523,935	9,213,426	8,385,709	2,883,963	6,534,315	901,795	561,372	2,542,702	2,077,906	3,733,597	2,985,399
total assets	19,873,260	15,396,735	15,552,861	12,784,044	12,095,185	10,853,248	9,647,826	8,860,022	7,704,177	6,873,552	5,908,341	4,589,108	4,228,722	5,418,478	4,737,508
Bank overdraft	0	0	0	0	0	334,915	0	0	0	0	0	1,500	0	0	0
Bank loan	0	0	0	0	377,566	0	0	0	0	0	0	0	0	0	0
Trade Creditors	1,414,521	1,119,962	1,230,721	408,405	154,844	662,442	520,178	270,598	204,353	428,872	234,755	268,538	238,389	201,703	178,614
Group/Directors Accounts	6,027,248	2,182,422	939,032	933,532	181,478	0	0	0	100,000	0	2	0	0	0	0
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	67,503	125,443	22,968	18,238	9,549	0	0	0	0	0	0	9,350	49,142	93,235
other current liabilities	3,819,449	2,561,444	3,537,160	2,778,656	1,792,972	1,264,139	1,116,562	1,167,344	1,220,331	1,053,801	1,159,697	436,381	933,420	626,717	1,056,125
total current liabilities	11,261,218	5,931,331	5,832,356	4,143,561	2,525,098	2,271,045	1,636,740	1,437,942	1,524,684	1,482,673	1,394,454	706,419	1,181,159	877,562	1,327,974
loans	0	0	0	0	1,308,775	394,254	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	124,884	152,022	78,678	0	0	0	0	0	0	0	9,350	58,493
Accruals and Deferred Income	175,997	186,997	198,000	209,000	220,000	231,000	242,000	253,000	264,000	275,000	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
provisions	0	394,458	439,176	185,922	170,507	92,833	87,452	98,455	83,805	41,457	11,384	18,394	21,363	0	0
total long term liabilities	175,997	581,455	637,176	519,806	1,851,304	796,765	329,452	351,455	347,805	316,457	11,384	18,394	21,363	9,350	58,493
total liabilities	11,437,215	6,512,786	6,469,532	4,663,367	4,376,402	3,067,810	1,966,192	1,789,397	1,872,489	1,799,130	1,405,838	724,813	1,202,522	886,912	1,386,467
net assets	8,436,045	8,883,949	9,083,329	8,120,677	7,718,783	7,785,438	7,681,634	7,070,625	5,831,688	5,074,422	4,502,503	3,864,295	3,026,200	4,531,566	3,351,041
total shareholders funds	8,436,045	8,883,949	9,083,329	8,120,677	7,718,783	7,785,438	7,681,634	7,070,625	5,831,688	5,074,422	4,502,503	3,864,295	3,026,200	4,531,566	3,351,041

	Jul 2023	Jul 2022	Jul 2021	Jul 2020	Jul 2019	Jul 2018	Jul 2017	Jul 2016	Jul 2015	Jul 2014	Jul 2013	Jul 2012	Jul 2011	Jul 2010	Jul 2009
Operating Activities
Operating Profit	-1,421,823	-530,801	926,700	233,586	722,807	222,735	602,920	1,271,748	1,515,078	1,100,147	833,744	558,456	675,459	1,648,283	1,651,428
Depreciation	1,539,405	1,307,884	1,035,083	903,932	517,824	434,842	296,809	243,589	122,660	84,702	136,945	151,931	190,891	133,610	135,457
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	658	19,542
Tax	441,148	102,810	-282,541	-12,391	-115,385	-44,347	-131,435	-174,510	-257,812	-241,765	-186,663	-17,362	-176,939	-460,208	-468,752
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	3,379,924	-1,000,702	789,524	-428,401	1,287,375	48,697	988,003	1,363,218	-442,102	335,874	1,733,396	264,939	-988,401	871,901	3,327,426
Creditors	294,559	-110,759	822,316	253,561	-507,598	142,264	249,580	66,245	-224,519	194,117	-33,783	30,149	36,686	23,089	178,614
Accruals and Deferred Income	1,247,005	-986,719	747,504	974,684	517,833	136,577	-61,782	-63,987	155,530	169,104	723,316	-497,039	306,703	-429,408	1,056,125
Deferred Taxes & Provisions	-394,458	-44,718	253,254	15,415	77,674	5,381	-11,003	14,650	42,348	30,073	-7,010	-2,969	21,363	0	0
Cash flow from operations	-1,674,088	738,399	2,712,792	2,797,188	-74,220	848,755	-42,914	-5,483	1,795,387	1,000,504	-266,847	-41,773	2,042,564	44,123	-755,012
Investing Activities
capital expenditure	-2,712,624	-3,513,641	-3,200,228	-1,128,160	-1,203,554	-812,547	-405,599	-227,054	-451,708	-249,386	-16,667	-47,521	-906,826	-67,040	-407,108
Change in Investments	0	0	0	0	0	0	0	0	0	0	2	0	0	0	0
cash flow from investments	-2,712,624	-3,513,641	-3,200,228	-1,128,160	-1,203,554	-812,547	-405,599	-227,054	-451,708	-249,386	-16,669	-47,521	-906,826	-67,040	-407,108
Financing Activities
Bank loans	0	0	0	-377,566	377,566	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	3,844,826	1,243,390	5,500	752,054	181,478	0	0	-100,000	100,000	-2	2	0	0	0	0
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	0	0	0	-1,308,775	914,521	394,254	0	0	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	-67,503	-57,940	-22,409	-22,408	82,033	88,227	0	0	0	0	0	-9,350	-49,142	-93,236	151,728
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	0	0	0	66,685	-66,685	0	0	0	0	-286,000	-11,000	297,001	0	0	2,149,874
interest	532,771	311,441	318,493	114,014	92,608	125,416	139,524	141,699	0	-463	2,127	0	-3,886	-7,550	18,491
cash flow from financing	4,310,094	1,496,891	301,584	-775,996	1,581,521	607,897	139,524	41,699	100,000	-286,465	-8,871	287,651	-53,028	-100,786	2,320,093
cash and cash equivalents
cash	-76,618	-1,361,181	-185,852	893,032	-731,168	779,020	-308,989	-190,838	943,679	464,653	-293,887	199,857	-917,290	-123,703	1,157,973
overdraft	0	0	0	0	-334,915	334,915	0	0	0	0	-1,500	1,500	0	0	0
change in cash	-76,618	-1,361,181	-185,852	893,032	-396,253	444,105	-308,989	-190,838	943,679	464,653	-292,387	198,357	-917,290	-123,703	1,157,973

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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ACCESS FURTHER EDUCATION LIMITED group structure

Access Further Education Limited has 1 subsidiary company.

Ultimate parent company

MARTINEZ INVESTMENTS LIMITED

08635778

ACCESS EDUCATION GROUP LIMITED

05417429

2 parents

ACCESS FURTHER EDUCATION LIMITED

02749258

1 subsidiary

LIVE ATOM LIMITED

03733564

ACCESS FURTHER EDUCATION LIMITED Shareholders

armstrong learning ltd

100%

Access Further Education Limited currently has 2 directors. The longest serving directors include Mr Jason Beaumont (Oct 2019) and Mr Paul Smith (Jul 2021).

officer	country	age	start	end	role
Mr Jason Beaumont	England	53 years	Oct 2019	-	Director
Mr Paul Smith	England	48 years	Jul 2021	-	Director

P&L

July 2023

turnover

24.9m

+13%

operating profit

-1.4m

+168%

gross margin

23.1%

-9.21%

turnover

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

Balance Sheet

July 2023

net assets

8.4m

-0.05%

total assets

19.9m

+0.29%

cash

248.7k

-0.24%

net assets

Total assets minus all liabilities

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company number

02749258

Type

Private limited with Share Capital

industry

85590 - Other education n.e.c.

incorporation date

September 1992

age

accounts

Full Accounts

ultimate parent company

MARTINEZ INVESTMENTS LIMITED

previous names

access to music limited (July 2023)

incorporated

address

heath mill studios, 68 heath mill lane, birmingham, west midlands, B9 4AR

last accounts submitted

July 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 found 8 charges/mortgages relating to access further education limited. Currently there are 1 open charges and 7 have been satisfied in the past.

access further education limited Company Information

access further education limited Estimated Valuation

access further education limited Estimated Valuation

access further education limited Estimated Valuation

Access Further Education Limited Overview

Access Further Education Limited Health Check

ACCESS FURTHER EDUCATION LIMITED financials

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access further education limited Companies House Filings - See Documents