Heatco Midlands Limited

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heatco midlands limited Company Information

Live

MatureSmallHigh

Company Number

02884923

Website

www.heatco.co.uk

Registered Address

1-4 little lane short heath, willenhall, west midlands, WV12 5PU

Industry

Plumbing, heat and air-conditioning installation

Telephone

01922417434

Next Accounts Due

September 2025

Group Structure

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Directors

Andrew Gough30 Years

Scott Broome18 Years

Shareholders

hcml limited 100%

heatco midlands limited Estimated Valuation

£1.3m

Pomanda estimates the enterprise value of HEATCO MIDLANDS LIMITED at £1.3m based on a Turnover of £2.5m and 0.52x industry multiple (adjusted for size and gross margin).

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Heatco Midlands Limited is a live company located in west midlands, WV12 5PU with a Companies House number of 02884923. It operates in the plumbing, heat and air-conditioning installation sector, SIC Code 43220. Founded in January 1994, it's largest shareholder is hcml limited with a 100% stake. Heatco Midlands Limited is a mature, small sized company, Pomanda has estimated its turnover at £2.5m with high growth in recent years.

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Pomanda's financial health check has awarded Heatco Midlands 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

2 Regular

4 Weak

Size

annual sales of £2.5m, make it larger than the average company (£435.9k)

Growth

3 year (CAGR) sales growth of 24%, show it is growing at a faster rate (9.2%)

EXPORT

Heatco Midlands Limited's latest turnover from December 2023 is estimated at £2.5 million and the company has net assets of £164.5 thousand. According to their latest financial statements, Heatco Midlands Limited has 11 employees and maintains cash reserves of £218.7 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Turnover	2,544,974	1,791,980	1,557,388	1,328,607	1,445,161	1,731,089	2,087,700	2,457,337	2,376,697	2,421,935	1,922,406	1,767,284	2,441,083	1,671,365	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,803,506	1,270,598	1,100,405	933,405	981,601	1,153,558	1,376,907	1,577,199	1,571,998	1,585,584	1,205,178	1,091,478	1,505,893	996,695	0
Gross Profit	741,468	521,382	456,983	395,202	463,560	577,531	710,793	880,138	804,699	836,351	717,227	675,806	935,190	674,670	0
Admin Expenses	731,415	522,991	452,552	395,069	465,198	576,007	725,900	837,683	1,057,735	660,612	686,578	704,940	1,051,990	650,747	-284,793
Operating Profit	10,053	-1,609	4,431	133	-1,638	1,524	-15,107	42,455	-253,036	175,739	30,649	-29,134	-116,800	23,923	284,793
Interest Payable	3,300	3,800	1,563	153	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	6,659	1,588	128	97	1,711	1,713	1,236	963	1,750	1,351	1,124	974	1,218	1,282	543
Pre-Tax Profit	13,412	-3,821	2,996	78	73	3,237	-13,871	43,419	-251,286	177,090	31,773	-28,160	-115,582	25,206	285,336
Tax	-3,353	0	-569	-15	-14	-615	0	-8,684	0	-37,189	-7,308	0	0	-7,058	-79,894
Profit After Tax	10,059	-3,821	2,427	63	59	2,622	-13,871	34,735	-251,286	139,901	24,465	-28,160	-115,582	18,148	205,442
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	10,059	-3,821	2,427	63	59	2,622	-13,871	34,735	-251,286	139,901	24,465	-28,160	-115,582	18,148	205,442
Employee Costs	380,581	371,677	279,138	307,091	417,127	421,151	359,384	385,476	643,736	623,669	503,104	447,690	699,029	528,183	0
Number Of Employees	11	11	8	9	12	12	11	11	18	18	14	13	20	16	0
EBITDA*	35,043	22,432	30,603	34,529	36,629	20,311	15,429	81,676	-228,172	199,995	42,570	-13,667	-94,940	30,397	295,058

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Tangible Assets	75,950	74,847	98,888	107,078	116,632	154,350	115,689	123,678	73,255	74,560	44,952	46,937	63,631	17,304	21,053
Intangible Assets	0	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	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	75,950	74,847	98,888	107,078	116,632	154,350	115,689	123,678	73,255	74,560	44,952	46,937	63,631	17,304	21,053
Stock & work in progress	2,000	2,000	2,000	2,000	2,000	2,000	10,000	10,000	10,000	14,500	11,000	8,500	5,000	1,050	800
Trade Debtors	585,790	509,991	496,494	346,738	315,813	350,709	421,533	456,181	404,214	453,702	303,734	282,654	410,287	280,406	152,809
Group Debtors	732	732	732	732	32,496	94,253	37,257	42,059	14,227	0	0	0	0	0	0
Misc Debtors	138,513	102,438	81,922	133,815	98,808	58,799	64,108	43,932	21,740	0	0	0	0	0	22,752
Cash	218,680	47,670	43,090	59,388	134,331	321,825	135,016	359,518	411,145	288,974	251,396	198,068	191,350	295,775	217,193
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	945,715	662,831	624,238	542,673	583,448	827,586	667,914	911,690	861,326	757,176	566,130	489,222	606,637	577,231	393,554
total assets	1,021,665	737,678	723,126	649,751	700,080	981,936	783,603	1,035,368	934,581	831,736	611,082	536,159	670,268	594,535	414,607
Bank overdraft	19,000	10,000	10,000	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	0
Trade Creditors	425,090	179,532	142,484	120,186	162,990	313,559	328,699	471,605	403,178	410,828	358,339	291,194	373,777	222,202	56,422
Group/Directors Accounts	326,224	341,371	325,092	270,122	306,478	386,475	194,083	246,839	302,275	0	0	0	0	9,412	13,412
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	8,663	0	0	11,114	10,661	32,808	26,228	42,591	25,906	0	0	0	0	0	0
other current liabilities	40,054	12,269	36,877	22,117	30,873	43,624	36,190	43,729	38,891	0	0	0	0	0	0
total current liabilities	819,031	543,172	514,453	423,539	511,002	776,466	585,200	804,764	770,250	410,828	358,339	291,194	373,777	231,614	69,834
loans	6,000	25,000	35,000	5,000	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	17,327	0	0	0	11,114	21,537	22,142	38,874	17,406	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	0	0	0	45,000	0	0	0	0	0	22,451	1,757	17,465	39,424	0	0
provisions	14,775	15,033	15,379	20,345	22,160	28,188	23,138	24,736	14,666	14,912	7,342	8,321	9,728	0	0
total long term liabilities	38,102	40,033	50,379	70,345	33,274	49,725	45,280	63,610	32,072	37,363	9,099	25,786	49,152	0	0
total liabilities	857,133	583,205	564,832	493,884	544,276	826,191	630,480	868,374	802,322	448,191	367,438	316,980	422,929	231,614	69,834
net assets	164,532	154,473	158,294	155,867	155,804	155,745	153,123	166,994	132,259	383,545	243,644	219,179	247,339	362,921	344,773
total shareholders funds	164,532	154,473	158,294	155,867	155,804	155,745	153,123	166,994	132,259	383,545	243,644	219,179	247,339	362,921	344,773

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Operating Activities
Operating Profit	10,053	-1,609	4,431	133	-1,638	1,524	-15,107	42,455	-253,036	175,739	30,649	-29,134	-116,800	23,923	284,793
Depreciation	24,990	24,041	26,172	34,396	38,267	18,787	30,536	39,221	24,864	24,256	11,921	15,467	21,860	6,474	10,265
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-3,353	0	-569	-15	-14	-615	0	-8,684	0	-37,189	-7,308	0	0	-7,058	-79,894
Stock	0	0	0	0	0	-8,000	0	0	-4,500	3,500	2,500	3,500	3,950	250	800
Debtors	111,874	34,013	97,863	34,168	-56,644	-19,137	-19,274	101,991	-13,521	149,968	21,080	-127,633	129,881	104,845	175,561
Creditors	245,558	37,048	22,298	-42,804	-150,569	-15,140	-142,906	68,427	-7,650	52,489	67,145	-82,583	151,575	165,780	56,422
Accruals and Deferred Income	27,785	-24,608	14,760	-8,756	-12,751	7,434	-7,539	4,838	38,891	0	0	0	0	0	0
Deferred Taxes & Provisions	-258	-346	-4,966	-1,815	-6,028	5,050	-1,598	10,070	-246	7,570	-979	-1,407	9,728	0	0
Cash flow from operations	192,901	513	-35,737	-53,029	-76,089	44,177	-117,340	54,336	-179,156	69,397	77,848	26,476	-67,468	84,024	95,225
Investing Activities
capital expenditure	-26,093	0	-17,982	-24,842	-549	-57,448	-22,547	-89,644	-23,559	-53,864	-9,936	1,227	-68,187	-2,725	-31,318
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-26,093	0	-17,982	-24,842	-549	-57,448	-22,547	-89,644	-23,559	-53,864	-9,936	1,227	-68,187	-2,725	-31,318
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	-15,147	16,279	54,970	-36,356	-79,997	192,392	-52,756	-55,436	302,275	0	0	0	-9,412	-4,000	13,412
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	-19,000	-10,000	30,000	5,000	0	0	0	0	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	25,990	0	-11,114	-10,661	-32,570	5,975	-33,095	38,153	43,312	0	0	0	0	0	0
other long term liabilities	0	0	-45,000	45,000	0	0	0	0	-22,451	20,694	-15,708	-21,959	39,424	0	0
share issue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	139,331
interest	3,359	-2,212	-1,435	-56	1,711	1,713	1,236	963	1,750	1,351	1,124	974	1,218	1,282	543
cash flow from financing	-4,798	4,067	27,421	2,927	-110,856	200,080	-84,615	-16,320	324,886	22,045	-14,584	-20,985	31,230	-2,718	153,286
cash and cash equivalents
cash	171,010	4,580	-16,298	-74,943	-187,494	186,809	-224,502	-51,627	122,171	37,578	53,328	6,718	-104,425	78,582	217,193
overdraft	9,000	0	10,000	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	162,010	4,580	-26,298	-74,943	-187,494	186,809	-224,502	-51,627	122,171	37,578	53,328	6,718	-104,425	78,582	217,193

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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HEATCO MIDLANDS LIMITED group structure

Heatco Midlands Limited has no subsidiary companies.

Ultimate parent company

HCML LIMITED

09401075

1 parent

HEATCO MIDLANDS LIMITED

02884923

HEATCO MIDLANDS LIMITED Shareholders

hcml limited

100%

Heatco Midlands Limited currently has 2 directors. The longest serving directors include Mr Andrew Gough (Jan 1994) and Mr Scott Broome (May 2006).

officer	country	age	start	end	role
Mr Andrew Gough	England	59 years	Jan 1994	-	Director
Mr Scott Broome	England	46 years	May 2006	-	Director

P&L

December 2023

turnover

2.5m

+42%

operating profit

10.1k

gross margin

29.2%

+0.14%

turnover

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

Balance Sheet

December 2023

net assets

164.5k

+0.07%

total assets

+0.38%

cash

218.7k

+3.59%

net assets

Total assets minus all liabilities

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company number

02884923

Type

Private limited with Share Capital

industry

43220 - Plumbing, heat and air-conditioning installation

incorporation date

January 1994

accounts

Total Exemption Full

ultimate parent company

HCML LIMITED

previous names

N/A

last accounts submitted

December 2023

address

1-4 little lane short heath, willenhall, west midlands, WV12 5PU

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 3 charges/mortgages relating to heatco midlands limited. Currently there are 2 open charges and 1 have been satisfied in the past.

heatco midlands limited Company Information

heatco midlands limited Estimated Valuation

heatco midlands limited Estimated Valuation

heatco midlands limited Estimated Valuation

Heatco Midlands Limited Overview

Heatco Midlands Limited Health Check

HEATCO MIDLANDS LIMITED financials

heatco midlands limited Credit Report and Business Information

Heatco Midlands Limited Competitor Analysis

heatco midlands limited Ownership

heatco midlands limited directors

heatco midlands limited company details

heatco midlands limited Charges & Mortgages

heatco midlands limited Companies House Filings - See Documents