Riteway Plumbing And Heating Services Limited

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riteway plumbing and heating services limited Company Information

Live

MatureSmallHigh

Company Number

02946394

Website

www.ritewayplumbing.co.uk

Registered Address

unit 3 shorade industrial estate, new street, bridgtown, cannock, staffordshire, WS11 0DH

Industry

Plumbing, heat and air-conditioning installation

Telephone

01543572787

Next Accounts Due

March 2025

Group Structure

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Directors

Thomas Cowell1 Years

Marc Bailey1 Years

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Shareholders

thomas john cowell 40%

marc james bailey 39.9%

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riteway plumbing and heating services limited Estimated Valuation

£669.2k

Pomanda estimates the enterprise value of RITEWAY PLUMBING AND HEATING SERVICES LIMITED at £669.2k based on a Turnover of £1.6m and 0.41x industry multiple (adjusted for size and gross margin).

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Riteway Plumbing And Heating Services Limited is a live company located in cannock, WS11 0DH with a Companies House number of 02946394. It operates in the plumbing, heat and air-conditioning installation sector, SIC Code 43220. Founded in July 1994, it's largest shareholder is thomas john cowell with a 40% stake. Riteway Plumbing And Heating Services Limited is a mature, small sized company, Pomanda has estimated its turnover at £1.6m with high growth in recent years.

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Pomanda's financial health check has awarded Riteway Plumbing And Heating Services Limited a 4 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 5 areas for improvement. Company Health Check FAQs

Health Rating4out of 5

6 Strong

1 Regular

5 Weak

Size

annual sales of £1.6m, make it larger than the average company (£355.3k)

Growth

3 year (CAGR) sales growth of 18%, show it is growing at a faster rate (5.6%)

EXPORT

Riteway Plumbing And Heating Services Limited's latest turnover from June 2023 is estimated at £1.6 million and the company has net assets of £197.2 thousand. According to their latest financial statements, Riteway Plumbing And Heating Services Limited has 9 employees and maintains cash reserves of £175.5 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Jun 2013	Jun 2012	Jun 2011	Jun 2010
Turnover	1,612,944	870,375	1,016,116	991,027	1,045,255	1,407,147	1,511,643	1,766,079	2,232,512	1,607,997	1,154,046	1,179,603	1,395,890	1,115,063
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,329,509	711,333	847,081	811,332	848,764	1,124,987	1,191,949	1,408,397	1,765,102	1,263,549	895,500	898,047	1,037,521	811,703
Gross Profit	283,435	159,042	169,034	179,695	196,492	282,160	319,695	357,682	467,410	344,449	258,546	281,556	358,369	303,360
Admin Expenses	324,947	295,661	232,567	157,757	199,542	297,663	318,878	381,975	396,498	200,650	262,977	257,330	270,356	42,138
Operating Profit	-41,512	-136,619	-63,533	21,938	-3,050	-15,503	817	-24,293	70,912	143,799	-4,431	24,226	88,013	261,222
Interest Payable	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	10,457	3,705	306	369	3,459	1,917	770	1,527	1,562	887	199	247	217	58
Pre-Tax Profit	-31,055	-132,914	-63,227	22,307	409	-13,587	1,588	-22,766	72,474	144,686	-4,232	24,474	88,230	261,281
Tax	0	0	0	-4,238	-78	0	-302	0	-14,495	-30,384	0	-5,874	-22,940	-73,159
Profit After Tax	-31,055	-132,914	-63,227	18,069	331	-13,587	1,286	-22,766	57,979	114,302	-4,232	18,600	65,290	188,122
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-31,055	-132,914	-63,227	18,069	331	-13,587	1,286	-22,766	57,979	114,302	-4,232	18,600	65,290	188,122
Employee Costs	296,918	293,771	298,515	297,000	276,925	281,724	298,239	292,133	284,074	247,310	176,688	206,804	277,724	224,712
Number Of Employees	9	9	9	9	8	8	9	8	8	7	5	6	8	7
EBITDA*	-36,213	-134,887	-61,223	25,275	1,142	-9,867	3,952	-24,293	76,908	146,602	-885	29,692	93,101	265,772

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Jun 2013	Jun 2012	Jun 2011	Jun 2010
Tangible Assets	17,557	5,192	6,924	9,234	12,571	16,763	9,401	12,536	16,716	8,390	10,619	15,832	13,983	13,340
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)	35,904	24,213	39,216	16,531	29,519	49,688	89,911	78,253	103,979	80,880	109,489	72,779	62,807	64,022
Total Fixed Assets	53,461	29,405	46,140	25,765	42,090	66,451	99,312	90,789	120,695	89,270	120,108	88,611	76,790	77,362
Stock & work in progress	13,974	8,627	10,140	10,152	10,125	11,039	10,330	11,582	13,802	12,888	9,418	10,877	12,806	9,768
Trade Debtors	509,304	266,400	343,522	359,698	269,050	438,519	513,034	490,896	619,341	447,585	340,698	364,198	400,146	308,026
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	0	0	0	0	104,390	34,985	28,958	27,981	0	0	0	21,677	21,757	15,494
Cash	175,520	242,760	350,004	262,967	475,172	447,096	319,503	296,739	313,999	310,858	44,063	35,514	63,364	23,248
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	698,798	517,787	703,666	632,817	858,737	931,639	871,825	827,198	947,142	771,331	394,179	432,266	498,073	356,536
total assets	752,259	547,192	749,806	658,582	900,827	998,090	971,137	917,987	1,067,837	860,601	514,287	520,877	574,863	433,898
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	552,072	318,353	387,766	232,230	418,089	518,955	445,066	446,167	624,543	477,143	244,975	247,047	319,462	242,190
Group/Directors Accounts	0	0	0	0	0	19,492	52,840	803	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	0	0	0	0	74,600	51,129	52,584	51,164	0	0	0	0	0	0
total current liabilities	552,072	318,353	387,766	232,230	492,689	589,576	550,490	498,134	624,543	477,143	244,975	247,047	319,462	242,190
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	0	0	0	0	0	0	0	0	0	0	0	637	2,586
provisions	2,989	586	873	1,958	1,813	2,520	1,066	1,558	2,233	376	532	818	352	0
total long term liabilities	2,989	586	873	1,958	1,813	2,520	1,066	1,558	2,233	376	532	818	989	2,586
total liabilities	555,061	318,939	388,639	234,188	494,502	592,096	551,556	499,692	626,776	477,519	245,507	247,865	320,451	244,776
net assets	197,198	228,253	361,167	424,394	406,325	405,994	419,581	418,295	441,061	383,082	268,780	273,012	254,412	189,122
total shareholders funds	197,198	228,253	361,167	424,394	406,325	405,994	419,581	418,295	441,061	383,082	268,780	273,012	254,412	189,122

	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Jun 2013	Jun 2012	Jun 2011	Jun 2010
Operating Activities
Operating Profit	-41,512	-136,619	-63,533	21,938	-3,050	-15,503	817	-24,293	70,912	143,799	-4,431	24,226	88,013	261,222
Depreciation	5,299	1,732	2,310	3,337	4,192	5,636	3,135	0	5,996	2,803	3,546	5,466	5,088	4,550
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	0	0	0	-4,238	-78	0	-302	0	-14,495	-30,384	0	-5,874	-22,940	-73,159
Stock	5,347	-1,513	-12	27	-914	709	-1,252	-2,220	914	3,470	-1,459	-1,929	3,038	9,768
Debtors	254,595	-92,125	6,509	-26,730	-120,233	-108,711	34,773	-126,190	194,855	78,278	-8,467	-26,056	97,168	387,542
Creditors	233,719	-69,413	155,536	-185,859	-100,866	73,889	-1,101	-178,376	147,400	232,168	-2,072	-72,415	77,272	242,190
Accruals and Deferred Income	0	0	0	-74,600	23,471	-1,455	1,420	51,164	0	0	0	0	0	0
Deferred Taxes & Provisions	2,403	-287	-1,085	145	-707	1,454	-492	-675	1,857	-156	-286	466	352	0
Cash flow from operations	-60,033	-110,949	86,731	-212,574	44,109	172,023	-30,044	-23,770	15,901	266,482	6,683	-20,146	47,579	37,493
Investing Activities
capital expenditure	-17,664	0	0	0	0	-12,998	0	4,180	-14,322	-574	1,667	-7,315	-5,731	-17,890
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-17,664	0	0	0	0	-12,998	0	4,180	-14,322	-574	1,667	-7,315	-5,731	-17,890
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	-19,492	-33,348	52,037	803	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	0	0	0	0	0	0	0	0	0	0	0	-637	-1,949	2,586
share issue	0	0	0	0	0	0	0	0	0	0	0	0	0	1,000
interest	10,457	3,705	306	369	3,459	1,917	770	1,527	1,562	887	199	247	217	58
cash flow from financing	10,457	3,705	306	369	-16,033	-31,431	52,807	2,330	1,562	887	199	-390	-1,732	3,644
cash and cash equivalents
cash	-67,240	-107,244	87,037	-212,205	28,076	127,593	22,764	-17,260	3,141	266,795	8,549	-27,850	40,116	23,248
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	-67,240	-107,244	87,037	-212,205	28,076	127,593	22,764	-17,260	3,141	266,795	8,549	-27,850	40,116	23,248

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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RITEWAY PLUMBING AND HEATING SERVICES LIMITED group structure

Riteway Plumbing And Heating Services Limited has no subsidiary companies.

Ultimate parent company

RITEWAY PLUMBING AND HEATING SERVICES LIMITED

02946394

RITEWAY PLUMBING AND HEATING SERVICES LIMITED Shareholders

thomas john cowell	39.98%
marc james bailey	39.88%
emma jayne yapp	20.04%
marc leslie bailey	0.1%

Riteway Plumbing And Heating Services Limited currently has 3 directors. The longest serving directors include Mr Thomas Cowell (Jan 2023) and Mr Marc Bailey (Jan 2023).

officer	age	start	end	role
Mr Thomas Cowell	36 years	Jan 2023	-	Director
Mr Marc Bailey	37 years	Jan 2023	-	Director
Ms Emma Yapp	32 years	Jan 2023	-	Director

P&L

June 2023

turnover

1.6m

+85%

operating profit

-41.5k

gross margin

17.6%

-3.83%

turnover

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

Balance Sheet

June 2023

net assets

197.2k

-0.14%

total assets

752.3k

+0.37%

cash

175.5k

-0.28%

net assets

Total assets minus all liabilities

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3.5

company number

02946394

Type

Private limited with Share Capital

industry

43220 - Plumbing, heat and air-conditioning installation

incorporation date

July 1994

accounts

Unaudited Abridged

ultimate parent company

None

previous names

N/A

last accounts submitted

June 2023

address

unit 3 shorade industrial estate, new street, bridgtown, cannock, staffordshire, WS11 0DH

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riteway plumbing and heating services limited Company Information

riteway plumbing and heating services limited Estimated Valuation

riteway plumbing and heating services limited Estimated Valuation

riteway plumbing and heating services limited Estimated Valuation

Riteway Plumbing And Heating Services Limited Overview

Riteway Plumbing And Heating Services Limited Health Check

RITEWAY PLUMBING AND HEATING SERVICES LIMITED financials

riteway plumbing and heating services limited Credit Report and Business Information

Riteway Plumbing And Heating Services Limited Competitor Analysis

riteway plumbing and heating services limited Ownership

riteway plumbing and heating services limited directors

riteway plumbing and heating services limited company details

riteway plumbing and heating services limited Charges & Mortgages

riteway plumbing and heating services limited Companies House Filings - See Documents