Midas Cladding Services Limited

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midas cladding services limited Company Information

Live

MatureSmallHealthy

Company Number

02894063

Website

www.midascladding.com

Registered Address

3 fern court, bracken hill business park, peterlee, SR8 2RR

Industry

Roofing activities

Telephone

01642253500

Next Accounts Due

November 2024

Group Structure

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Directors

Kevan Jefferson30 Years

Martin Gilbey10 Years

Shareholders

ed-wood limited 100%

midas cladding services limited Estimated Valuation

£3.6m

Pomanda estimates the enterprise value of MIDAS CLADDING SERVICES LIMITED at £3.6m based on Net Assets of £1.4m and 2.6x industry multiple (adjusted for liquidity).

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Midas Cladding Services Limited is a live company located in peterlee, SR8 2RR with a Companies House number of 02894063. It operates in the roofing activities sector, SIC Code 43910. Founded in February 1994, it's largest shareholder is ed-wood limited with a 100% stake. Midas Cladding Services Limited is a mature, small sized company, Pomanda has estimated its turnover at £4m with healthy growth in recent years.

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Pomanda's financial health check has awarded Midas Cladding Services Limited a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 3 areas for improvement. Company Health Check FAQs

Health Rating4.5out of 5

6 Strong

3 Regular

3 Weak

Size

annual sales of £4m, make it larger than the average company (£566.8k)

Growth

3 year (CAGR) sales growth of 13%, show it is growing at a faster rate (5.8%)

EXPORT

Midas Cladding Services Limited's latest turnover from February 2023 is estimated at £4 million and the company has net assets of £1.4 million. According to their latest financial statements, Midas Cladding Services Limited has 34 employees and maintains cash reserves of £176.2 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017	Feb 2016	Feb 2015	Feb 2014	Feb 2013	Feb 2012	Feb 2011	Feb 2010
Turnover	4,048,108	4,419,425	3,125,606	2,814,520	5,582,506	4,343,662	5,978,531	4,233,265	4,943,583	2,909,784	2,367,578	2,223,458	1,985,276	1,640,726
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	2,947,568	3,139,524	2,246,791	2,055,458	3,968,397	3,195,490	4,371,834	3,078,837	3,650,833	2,079,936	1,619,987	1,543,191	1,345,538	1,158,280
Gross Profit	1,100,540	1,279,901	878,815	759,062	1,614,108	1,148,172	1,606,696	1,154,428	1,292,750	829,849	747,591	680,267	639,739	482,446
Admin Expenses	807,477	1,031,160	585,706	719,408	1,725,774	1,044,911	1,620,602	1,063,200	670,604	809,971	856,870	639,314	588,079	11,864
Operating Profit	293,063	248,741	293,109	39,654	-111,666	103,261	-13,906	91,228	622,146	19,878	-109,279	40,953	51,660	470,582
Interest Payable	32,384	32,155	31,475	30,548	22,446	13,198	9,655	5,663	2,026	3,474	5,697	7,643	4,303	0
Interest Receivable	3,531	502	217	878	0	1	16	587	591	85	66	110	214	121
Pre-Tax Profit	264,211	217,088	261,851	9,984	-134,111	90,064	-23,545	86,153	620,711	16,488	-114,910	33,420	47,571	470,703
Tax	-50,200	-41,247	-49,752	-1,897	0	-17,112	0	-17,230	-130,349	-3,792	0	-8,689	-13,320	-131,797
Profit After Tax	214,011	175,841	212,099	8,087	-134,111	72,952	-23,545	68,922	490,362	12,696	-114,910	24,731	34,251	338,906
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	214,011	175,841	212,099	8,087	-134,111	72,952	-23,545	68,922	490,362	12,696	-114,910	24,731	34,251	338,906
Employee Costs	1,312,410	1,130,299	1,077,600	961,156	1,329,502	1,483,127	1,902,634	582,095	625,617	392,227	395,423	321,509	382,426	285,684
Number Of Employees	34	32	30	25	35	48	56	16	18	12	12	10	13	9
EBITDA*	322,500	273,873	317,449	62,099	-88,139	133,202	-12,334	129,150	656,071	53,500	-67,850	73,385	73,115	492,294

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017	Feb 2016	Feb 2015	Feb 2014	Feb 2013	Feb 2012	Feb 2011	Feb 2010
Tangible Assets	402,555	435,793	403,729	418,726	416,959	449,928	475,388	499,047	500,307	497,650	510,348	516,317	468,520	481,970
Intangible Assets	0	0	0	5,000	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)	571,225	561,125	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	973,780	996,918	403,729	423,726	416,959	449,928	475,388	499,047	500,307	497,650	510,348	516,317	468,520	481,970
Stock & work in progress	3,000	17,534	5,850	5,850	5,350	5,350	5,944	5,750	9,650	4,810	4,160	3,720	2,760	2,620
Trade Debtors	793,075	1,241,856	783,787	665,406	1,205,908	858,940	1,048,134	1,030,546	1,045,414	563,560	396,326	495,303	391,830	289,529
Group Debtors	254,509	144,965	561,125	564,861	564,848	502,946	390,002	135,000	0	0	0	0	0	0
Misc Debtors	0	0	92,205	55,132	38,493	12,573	17,588	27,922	0	0	0	0	0	0
Cash	176,223	351	200,385	234,191	0	22	237	12,569	222,283	14,309	19,526	6,832	37,212	48,306
misc current assets	0	0	40,351	0	0	0	0	0	0	0	0	0	0	0
total current assets	1,226,807	1,404,706	1,683,703	1,525,440	1,814,599	1,379,831	1,461,905	1,211,787	1,277,347	582,679	420,012	505,855	431,802	340,455
total assets	2,200,587	2,401,624	2,087,432	1,949,166	2,231,558	1,829,759	1,937,293	1,710,834	1,777,654	1,080,329	930,360	1,022,172	900,322	822,425
Bank overdraft	58,920	310,456	356,058	361,014	257,122	127,173	72,009	27,600	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	464,932	633,533	381,057	268,293	790,200	297,174	454,972	355,933	814,194	559,305	479,690	421,688	311,352	235,919
Group/Directors Accounts	0	0	0	0	0	0	70,026	8,184	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	10,850	3,000	0	4,078	5,083	7,563	10,717	13,272	0	0	0	0	0	0
other current liabilities	129,845	137,882	146,854	390,338	236,732	359,062	385,092	297,556	0	0	0	0	0	0
total current liabilities	664,547	1,084,871	883,969	1,023,723	1,289,137	790,972	992,816	702,545	814,194	559,305	479,690	421,688	311,352	235,919
loans	147,835	130,465	192,407	122,500	164,500	116,259	90,648	118,697	27,952	34,379	72,525	102,765	132,413	0
hp & lease commitments	0	10,850	0	16,101	1,367	6,863	10,116	20,834	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	13,850	0	0	0	0	0	135,272	177,071	83,200	83,200	83,200	247,400
provisions	7,613	8,857	6,466	8,201	6,000	11,000	12,000	13,500	14,000	13,700	11,767	16,431	0	0
total long term liabilities	155,448	150,172	212,723	146,802	171,867	134,122	112,764	153,031	177,224	225,150	167,492	202,396	215,613	247,400
total liabilities	819,995	1,235,043	1,096,692	1,170,525	1,461,004	925,094	1,105,580	855,576	991,418	784,455	647,182	624,084	526,965	483,319
net assets	1,380,592	1,166,581	990,740	778,641	770,554	904,665	831,713	855,258	786,236	295,874	283,178	398,088	373,357	339,106
total shareholders funds	1,380,592	1,166,581	990,740	778,641	770,554	904,665	831,713	855,258	786,236	295,874	283,178	398,088	373,357	339,106

	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017	Feb 2016	Feb 2015	Feb 2014	Feb 2013	Feb 2012	Feb 2011	Feb 2010
Operating Activities
Operating Profit	293,063	248,741	293,109	39,654	-111,666	103,261	-13,906	91,228	622,146	19,878	-109,279	40,953	51,660	470,582
Depreciation	29,437	25,132	24,340	22,445	23,527	29,941	1,572	37,922	33,925	33,622	41,429	32,432	21,455	21,712
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-50,200	-41,247	-49,752	-1,897	0	-17,112	0	-17,230	-130,349	-3,792	0	-8,689	-13,320	-131,797
Stock	-14,534	11,684	0	500	0	-594	194	-3,900	4,840	650	440	960	140	2,620
Debtors	-329,137	510,829	151,718	-523,850	434,790	-81,265	262,256	148,054	481,854	167,234	-98,977	103,473	102,301	289,529
Creditors	-168,601	252,476	112,764	-521,907	493,026	-157,798	99,039	-458,261	254,889	79,615	58,002	110,336	75,433	235,919
Accruals and Deferred Income	-8,037	-8,972	-243,484	153,606	-122,330	-26,030	87,536	297,556	0	0	0	0	0	0
Deferred Taxes & Provisions	-1,244	2,391	-1,735	2,201	-5,000	-1,000	-1,500	-500	300	1,933	-4,664	16,431	0	0
Cash flow from operations	438,089	-43,992	-16,476	217,452	-157,233	13,121	-89,709	-193,439	294,217	-36,628	84,025	87,030	32,787	304,267
Investing Activities
capital expenditure	3,801	-57,196	-4,343	-29,212	9,442	-4,481	22,087	-36,662	-36,582	-20,924	-35,460	-80,229	-8,005	-503,682
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	3,801	-57,196	-4,343	-29,212	9,442	-4,481	22,087	-36,662	-36,582	-20,924	-35,460	-80,229	-8,005	-503,682
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	0	0	0	-70,026	61,842	8,184	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	17,370	-61,942	69,907	-42,000	48,241	25,611	-28,049	90,745	-6,427	-38,146	-30,240	-29,648	132,413	0
Hire Purchase and Lease Commitments	-3,000	13,850	-20,179	13,729	-7,976	-6,407	-13,273	34,106	0	0	0	0	0	0
other long term liabilities	0	-13,850	13,850	0	0	0	0	-135,272	-41,799	93,871	0	0	-164,200	247,400
share issue	0	0	0	0	0	0	0	100	0	0	0	0	0	200
interest	-28,853	-31,653	-31,258	-29,670	-22,446	-13,197	-9,639	-5,076	-1,435	-3,389	-5,631	-7,533	-4,089	121
cash flow from financing	-14,483	-93,595	32,320	-57,941	17,819	-64,019	10,881	-7,213	-49,661	52,336	-35,871	-37,181	-35,876	247,721
cash and cash equivalents
cash	175,872	-200,034	-33,806	234,191	-22	-215	-12,332	-209,714	207,974	-5,217	12,694	-30,380	-11,094	48,306
overdraft	-251,536	-45,602	-4,956	103,892	129,949	55,164	44,409	27,600	0	0	0	0	0	0
change in cash	427,408	-154,432	-28,850	130,299	-129,971	-55,379	-56,741	-237,314	207,974	-5,217	12,694	-30,380	-11,094	48,306

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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MIDAS CLADDING SERVICES LIMITED group structure

Midas Cladding Services Limited has no subsidiary companies.

Ultimate parent company

ED-WOOD LIMITED

13502378

1 parent

MIDAS CLADDING SERVICES LIMITED

02894063

MIDAS CLADDING SERVICES LIMITED Shareholders

ed-wood limited

100%

Midas Cladding Services Limited currently has 2 directors. The longest serving directors include Mr Kevan Jefferson (Feb 1994) and Mr Martin Gilbey (Feb 2014).

officer	country	age	start	end	role
Mr Kevan Jefferson	United Kingdom	61 years	Feb 1994	-	Director
Mr Martin Gilbey	United Kingdom	42 years	Feb 2014	-	Director

P&L

February 2023

turnover

-8%

operating profit

293.1k

gross margin

27.2%

-6.13%

turnover

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

Balance Sheet

February 2023

net assets

1.4m

+0.18%

total assets

2.2m

-0.08%

cash

176.2k

+501.06%

net assets

Total assets minus all liabilities

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company number

02894063

Type

Private limited with Share Capital

industry

43910 - Roofing activities

incorporation date

February 1994

age

accounts

Total Exemption Full

ultimate parent company

ED-WOOD LIMITED

previous names

N/A

incorporated

address

3 fern court, bracken hill business park, peterlee, SR8 2RR

last accounts submitted

February 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 midas cladding services limited. Currently there are 2 open charges and 6 have been satisfied in the past.

midas cladding services limited Company Information

midas cladding services limited Estimated Valuation

midas cladding services limited Estimated Valuation

midas cladding services limited Estimated Valuation

Midas Cladding Services Limited Overview

Midas Cladding Services Limited Health Check

MIDAS CLADDING SERVICES LIMITED financials

midas cladding services limited Credit Report and Business Information

Midas Cladding Services Limited Competitor Analysis

midas cladding services limited Ownership

midas cladding services limited directors

midas cladding services limited company details

midas cladding services limited Charges & Mortgages

midas cladding services limited Companies House Filings - See Documents