Ribcraft Limited

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ribcraft limited Company Information

Live

MatureMidDeclining

Company Number

02783470

Website

www.ribcraft.co.uk

Registered Address

6 edward close,, yeovil, somerset, BA22 8RU

Industry

Building of ships and floating structures

Defence activities

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Telephone

01935411846

Next Accounts Due

October 2024

Group Structure

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Directors

Toby Adams3 Years

Shareholders

ribcraft (holdings) limited 100%

ribcraft limited Estimated Valuation

£3m

Pomanda estimates the enterprise value of RIBCRAFT LIMITED at £3m based on a Turnover of £6.1m and 0.49x industry multiple (adjusted for size and gross margin).

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Ribcraft Limited is a live company located in somerset, BA22 8RU with a Companies House number of 02783470. It operates in the building of ships and floating structures sector, SIC Code 30110. Founded in January 1993, it's largest shareholder is ribcraft (holdings) limited with a 100% stake. Ribcraft Limited is a mature, mid sized company, Pomanda has estimated its turnover at £6.1m with declining growth in recent years.

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Pomanda's financial health check has awarded Ribcraft Limited a 2 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 7 areas for improvement. Company Health Check FAQs

Health Rating2out of 5

1 Strong

4 Regular

7 Weak

Size

annual sales of £6.1m, make it smaller than the average company (£16.3m)

Growth

3 year (CAGR) sales growth of -14%, show it is growing at a slower rate (2.6%)

EXPORT

Ribcraft Limited's latest turnover from January 2023 is estimated at £6.1 million and the company has net assets of -£765.1 thousand. According to their latest financial statements, Ribcraft Limited has 45 employees and maintains cash reserves of £4.6 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Jan 2018	Jan 2017	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012	Jan 2011	Jan 2010
Turnover	6,081,740	4,769,690	6,408,274	9,523,947	6,546,108	5,110,780	6,165,609	7,268,241	8,449,197	8,188,230	8,154,248	6,070,280	9,939,009	9,388,077
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	4,881,574	3,891,402	5,312,488	7,448,089	4,950,220	3,796,147	4,755,980	5,612,356	6,364,700	6,398,711	6,380,923	4,636,227	7,809,919	7,591,093
Gross Profit	1,200,165	878,288	1,095,786	2,075,858	1,595,888	1,314,633	1,409,629	1,655,885	2,084,497	1,789,518	1,773,325	1,434,053	2,129,089	1,796,983
Admin Expenses	1,472,172	1,854,365	1,240,283	2,277,945	1,578,221	1,281,925	1,676,324	1,623,888	1,904,512	1,658,273	1,722,099	1,477,680	2,038,224	610,289
Operating Profit	-272,007	-976,077	-144,497	-202,087	17,667	32,708	-266,695	31,997	179,985	131,245	51,226	-43,627	90,865	1,186,694
Interest Payable	73,071	31,437	42,259	54,314	33,430	31,047	24,353	7,559	9,857	8,304	0	0	22,296	22,296
Interest Receivable	1,488	123	14	52	29	68	43	74	73	27	1	1	1	0
Pre-Tax Profit	-343,590	-1,007,391	-186,743	-256,349	-15,734	1,730	-291,005	24,511	170,201	122,968	51,228	-43,626	68,569	1,164,399
Tax	0	0	0	0	0	-329	0	-4,902	-35,742	-28,283	-12,295	0	-19,199	-326,032
Profit After Tax	-343,590	-1,007,391	-186,743	-256,349	-15,734	1,401	-291,005	19,609	134,459	94,685	38,933	-43,626	49,370	838,367
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-343,590	-1,007,391	-186,743	-256,349	-15,734	1,401	-291,005	19,609	134,459	94,685	38,933	-43,626	49,370	838,367
Employee Costs	2,022,993	1,950,335	1,905,464	1,968,142	1,864,012	1,419,948	1,855,908	1,735,820	2,302,684	2,478,379	2,586,949	1,860,473	2,988,585	2,374,489
Number Of Employees	45	45	42	42	41	35	45	45	61	64	69	50	79	63
EBITDA*	-218,325	-896,369	-92,530	-131,902	83,949	98,526	-199,261	95,936	244,196	208,153	123,435	43,650	203,343	1,294,780

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Jan 2018	Jan 2017	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012	Jan 2011	Jan 2010
Tangible Assets	1,018,676	975,309	1,002,423	1,046,269	1,067,261	1,070,766	1,115,060	1,011,811	1,163,937	1,196,730	1,057,019	1,088,223	2,083,282	2,336,091
Intangible Assets	0	0	0	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	1,018,676	975,309	1,002,423	1,046,269	1,067,261	1,070,766	1,115,060	1,011,811	1,163,937	1,196,730	1,057,019	1,088,223	2,083,282	2,336,091
Stock & work in progress	1,088,807	1,826,634	1,916,770	2,047,875	1,598,650	1,606,247	1,516,972	1,562,385	1,285,674	1,348,265	1,486,793	1,424,363	1,439,135	1,427,108
Trade Debtors	561,028	81,382	301,237	326,788	214,342	82,844	100,040	80,028	130,823	303,126	319,938	141,671	245,746	642,881
Group Debtors	26,700	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	1,224,385	457,118	16,946	77,113	31,207	32,770	23,383	114,913	0	0	0	0	0	0
Cash	4,622	80,408	17,691	9,929	4,002	3,769	23,569	10,829	18,652	10,391	255	200	200	17
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	2,905,542	2,445,542	2,252,644	2,461,705	1,848,201	1,725,630	1,663,964	1,768,155	1,435,149	1,661,782	1,806,986	1,566,234	1,685,081	2,070,006
total assets	3,924,218	3,420,851	3,255,067	3,507,974	2,915,462	2,796,396	2,779,024	2,779,966	2,599,086	2,858,512	2,864,005	2,654,457	3,768,363	4,406,097
Bank overdraft	528,343	100,000	405,982	0	580,306	308,529	539,278	126,827	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	561,400	553,071	845,865	1,604,991	1,000,419	634,894	512,039	796,332	1,190,656	1,298,813	1,364,766	1,478,487	1,565,142	1,798,419
Group/Directors Accounts	2,495,352	1,360,053	1,092,002	0	0	0	0	0	0	0	0	0	0	14,987
other short term finances	0	0	0	433,158	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	25,374	6,143	6,143	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	594,245	1,292,797	282,754	132,774	236,942	731,250	596,773	430,093	0	0	0	0	0	0
total current liabilities	4,204,714	3,312,064	2,632,746	2,170,923	1,817,667	1,674,673	1,648,090	1,353,252	1,190,656	1,298,813	1,364,766	1,478,487	1,565,142	1,813,406
loans	410,000	500,000	0	546,416	49,427	52,268	55,203	57,974	47,785	255,500	0	0	0	686,026
hp & lease commitments	52,696	12,286	18,429	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	12,576	86,299	373,979	83,441	733,057	257,623
provisions	21,890	17,993	17,993	17,993	19,377	20,912	24,771	22,957	18,077	18,549	16,776	19,160	26,302	20,732
total long term liabilities	484,586	530,279	36,422	564,409	68,804	73,180	79,974	80,931	78,438	360,348	390,755	102,601	759,359	964,381
total liabilities	4,689,300	3,842,343	2,669,168	2,735,332	1,886,471	1,747,853	1,728,064	1,434,183	1,269,094	1,659,161	1,755,521	1,581,088	2,324,501	2,777,787
net assets	-765,082	-421,492	585,899	772,642	1,028,991	1,048,543	1,050,960	1,345,783	1,329,992	1,199,351	1,108,484	1,073,369	1,443,862	1,628,310
total shareholders funds	-765,082	-421,492	585,899	772,642	1,028,991	1,048,543	1,050,960	1,345,783	1,329,992	1,199,351	1,108,484	1,073,369	1,443,862	1,628,310

	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Jan 2018	Jan 2017	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012	Jan 2011	Jan 2010
Operating Activities
Operating Profit	-272,007	-976,077	-144,497	-202,087	17,667	32,708	-266,695	31,997	179,985	131,245	51,226	-43,627	90,865	1,186,694
Depreciation	53,682	79,708	51,967	70,185	66,282	65,818	67,434	63,939	64,211	76,908	72,209	87,277	112,478	108,086
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	0	0	0	0	0	-329	0	-4,902	-35,742	-28,283	-12,295	0	-19,199	-326,032
Stock	-737,827	-90,136	-131,105	449,225	-7,597	89,275	-45,413	276,711	-62,591	-138,528	62,430	-14,772	12,027	1,427,108
Debtors	1,273,613	220,317	-85,718	158,352	129,935	-7,809	-71,518	64,118	-172,303	-16,812	178,267	-104,075	-397,135	642,881
Creditors	8,329	-292,794	-759,126	604,572	365,525	122,855	-284,293	-394,324	-108,157	-65,953	-113,721	-86,655	-233,277	1,798,419
Accruals and Deferred Income	-698,552	1,010,043	149,980	-104,168	-494,308	134,477	166,680	430,093	0	0	0	0	0	0
Deferred Taxes & Provisions	3,897	0	0	-1,384	-1,535	-3,859	1,814	4,880	-472	1,773	-2,384	-7,142	5,570	20,732
Cash flow from operations	-1,440,437	-309,301	-484,853	-240,459	-168,707	270,204	-198,129	-209,146	334,719	271,030	-245,662	68,700	341,545	717,910
Investing Activities
capital expenditure	-97,049	-52,594	-8,121	-49,193	-62,777	-21,524	-170,683	88,187	-31,418	-216,619	-41,005	907,782	140,331	-2,444,177
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-97,049	-52,594	-8,121	-49,193	-62,777	-21,524	-170,683	88,187	-31,418	-216,619	-41,005	907,782	140,331	-2,444,177
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	1,135,299	268,051	1,092,002	0	0	0	0	0	0	0	0	0	-14,987	14,987
Other Short Term Loans	0	0	-433,158	433,158	0	0	0	0	0	0	0	0	0	0
Long term loans	-90,000	500,000	-546,416	496,989	-2,841	-2,935	-2,771	10,189	-207,715	255,500	0	0	-686,026	686,026
Hire Purchase and Lease Commitments	59,641	-6,143	24,572	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	0	0	0	0	0	0	0	-12,576	-73,723	-287,680	290,538	-649,616	475,434	257,623
share issue	0	0	0	0	-3,818	-3,818	-3,818	-3,818	-3,818	-3,818	-3,818	-326,867	-233,818	789,943
interest	-71,583	-31,314	-42,245	-54,262	-33,401	-30,979	-24,310	-7,485	-9,784	-8,277	1	1	-22,295	-22,296
cash flow from financing	1,033,357	730,594	94,755	875,885	-40,060	-37,732	-30,899	-13,690	-295,040	-44,275	286,721	-976,482	-481,692	1,726,283
cash and cash equivalents
cash	-75,786	62,717	7,762	5,927	233	-19,800	12,740	-7,823	8,261	10,136	55	0	183	17
overdraft	428,343	-305,982	405,982	-580,306	271,777	-230,749	412,451	126,827	0	0	0	0	0	0
change in cash	-504,129	368,699	-398,220	586,233	-271,544	210,949	-399,711	-134,650	8,261	10,136	55	0	183	17

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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RIBCRAFT LIMITED group structure

Ribcraft Limited has no subsidiary companies.

Ultimate parent company

RIBCRAFT (HOLDINGS) LIMITED

12768081

1 parent

RIBCRAFT LIMITED

02783470

RIBCRAFT LIMITED Shareholders

ribcraft (holdings) limited

100%

Ribcraft Limited currently has 1 director, Mr Toby Adams serving since Aug 2020.

officer	country	age	start	end	role
Mr Toby Adams	United Kingdom	43 years	Aug 2020	-	Director

P&L

January 2023

turnover

6.1m

+28%

operating profit

-272k

gross margin

19.8%

+7.17%

turnover

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

Balance Sheet

January 2023

net assets

-765.1k

+0.82%

total assets

3.9m

+0.15%

cash

4.6k

-0.94%

net assets

Total assets minus all liabilities

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company number

02783470

Type

Private limited with Share Capital

industry

30120 - Building of pleasure and sporting boats

30110 - Building of ships and floating structures

84220 - Defence activities

incorporation date

January 1993

age

accounts

Total Exemption Full

ultimate parent company

RIBCRAFT (HOLDINGS) LIMITED

previous names

r.i.b. craft limited (April 2002)

incorporated

address

6 edward close,, yeovil, somerset, BA22 8RU

last accounts submitted

January 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 10 charges/mortgages relating to ribcraft limited. Currently there are 4 open charges and 6 have been satisfied in the past.

ribcraft limited Company Information

ribcraft limited Estimated Valuation

ribcraft limited Estimated Valuation

ribcraft limited Estimated Valuation

Ribcraft Limited Overview

Ribcraft Limited Health Check

RIBCRAFT LIMITED financials

ribcraft limited Credit Report and Business Information

Ribcraft Limited Competitor Analysis

ribcraft limited Ownership

ribcraft limited directors

ribcraft limited company details

ribcraft limited Charges & Mortgages

ribcraft limited Companies House Filings - See Documents