worthing v.e. limited
worthing v.e. limited Company Information
Company Number
03109722
Next Accounts
Sep 2025
Shareholders
abbeyfield ve ltd
peter george georgiou
View AllGroup Structure
View All
Industry
Other personal service activities n.e.c.
Registered Address
mere way, ruddington fields business park, nottingham, nottinghamshire, NG11 6NZ
Website
www.wehavesoundguitars.comworthing v.e. limited Estimated Valuation
Pomanda estimates the enterprise value of WORTHING V.E. LIMITED at £2m based on a Turnover of £2m and 0.97x industry multiple (adjusted for size and gross margin).
worthing v.e. limited Estimated Valuation
Pomanda estimates the enterprise value of WORTHING V.E. LIMITED at £2.6m based on an EBITDA of £401k and a 6.42x industry multiple (adjusted for size and gross margin).
worthing v.e. limited Estimated Valuation
Pomanda estimates the enterprise value of WORTHING V.E. LIMITED at £465k based on Net Assets of £237k and 1.96x industry multiple (adjusted for liquidity).
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Worthing V.e. Limited Overview
Worthing V.e. Limited is a live company located in nottingham, NG11 6NZ with a Companies House number of 03109722. It operates in the other service activities n.e.c. sector, SIC Code 96090. Founded in October 1995, it's largest shareholder is abbeyfield ve ltd with a 50% stake. Worthing V.e. Limited is a mature, small sized company, Pomanda has estimated its turnover at £2m with high growth in recent years.
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Worthing V.e. Limited Health Check
Pomanda's financial health check has awarded Worthing V.E. Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 8 measures and has 1 areas for improvement. Company Health Check FAQs
8 Strong
3 Regular
1 Weak
Size
annual sales of £2m, make it larger than the average company (£1.2m)
£2m - Worthing V.e. Limited
£1.2m - Industry AVG
Growth
3 year (CAGR) sales growth of 18%, show it is growing at a faster rate (7.9%)
18% - Worthing V.e. Limited
7.9% - Industry AVG
Production
with a gross margin of 72%, this company has a lower cost of product (41.8%)
72% - Worthing V.e. Limited
41.8% - Industry AVG
Profitability
an operating margin of 18.5% make it more profitable than the average company (6.4%)
18.5% - Worthing V.e. Limited
6.4% - Industry AVG
Employees
with 16 employees, this is similar to the industry average (15)
16 - Worthing V.e. Limited
15 - Industry AVG
Pay Structure
on an average salary of £38.5k, the company has an equivalent pay structure (£34.5k)
£38.5k - Worthing V.e. Limited
£34.5k - Industry AVG
Efficiency
resulting in sales per employee of £126.5k, this is more efficient (£104.6k)
£126.5k - Worthing V.e. Limited
£104.6k - Industry AVG
Debtor Days
it gets paid by customers after 20 days, this is earlier than average (31 days)
20 days - Worthing V.e. Limited
31 days - Industry AVG
Creditor Days
its suppliers are paid after 63 days, this is slower than average (40 days)
63 days - Worthing V.e. Limited
40 days - Industry AVG
Stock Days
it holds stock equivalent to 32 days, this is less than average (40 days)
32 days - Worthing V.e. Limited
40 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 2 weeks, this is less cash available to meet short term requirements (38 weeks)
2 weeks - Worthing V.e. Limited
38 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 51.6%, this is a similar level of debt than the average (48%)
51.6% - Worthing V.e. Limited
48% - Industry AVG
WORTHING V.E. LIMITED financials
Worthing V.E. Limited's latest turnover from December 2023 is £2 million and the company has net assets of £237 thousand. According to their latest financial statements, Worthing V.E. Limited has 16 employees and maintains cash reserves of £14 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 | 2,024,000 | 1,811,000 | 1,660,000 | 1,230,000 | 1,478,000 | 1,427,000 | 1,344,000 | 1,304,000 | 1,191,000 | 1,174,000 | 1,118,000 | 1,055,000 | 981,000 | 1,022,000 | 1,059,000 |
| Other Income Or Grants | |||||||||||||||
| Cost Of Sales | 566,000 | 462,000 | 402,000 | 296,000 | 412,000 | 373,000 | 327,000 | 329,000 | 311,000 | 295,000 | 275,000 | 276,000 | 243,000 | 258,000 | 280,000 |
| Gross Profit | 1,458,000 | 1,349,000 | 1,258,000 | 934,000 | 1,066,000 | 1,054,000 | 1,017,000 | 975,000 | 880,000 | 879,000 | 843,000 | 779,000 | 738,000 | 764,000 | 779,000 |
| Admin Expenses | 1,084,000 | 942,000 | 787,000 | 555,000 | 820,000 | 788,000 | 754,000 | 686,000 | 654,000 | 662,000 | 654,000 | 626,000 | 599,000 | 646,000 | 632,000 |
| Operating Profit | 374,000 | 407,000 | 471,000 | 379,000 | 246,000 | 266,000 | 263,000 | 289,000 | 226,000 | 217,000 | 189,000 | 153,000 | 139,000 | 118,000 | 147,000 |
| Interest Payable | 1,000 | 1,000 | 1,000 | 2,000 | 2,000 | 1,000 | 6,000 | ||||||||
| Interest Receivable | 20,000 | 2,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |||||||
| Pre-Tax Profit | 393,000 | 408,000 | 471,000 | 379,000 | 247,000 | 266,000 | 261,000 | 287,000 | 226,000 | 218,000 | 190,000 | 153,000 | 139,000 | 112,000 | 148,000 |
| Tax | -95,000 | -77,000 | -89,000 | -72,000 | -48,000 | -51,000 | -53,000 | -52,000 | -45,000 | -48,000 | -44,000 | -39,000 | -40,000 | -31,000 | -41,000 |
| Profit After Tax | 298,000 | 331,000 | 382,000 | 307,000 | 199,000 | 215,000 | 208,000 | 235,000 | 181,000 | 170,000 | 146,000 | 114,000 | 99,000 | 81,000 | 107,000 |
| Dividends Paid | 320,000 | 260,000 | 270,000 | 278,000 | 205,000 | 203,000 | 226,000 | 250,000 | 165,000 | 200,000 | 162,000 | 135,000 | 105,000 | 75,000 | 115,000 |
| Retained Profit | -22,000 | 71,000 | 112,000 | 29,000 | -6,000 | 12,000 | -18,000 | -15,000 | 16,000 | -30,000 | -16,000 | -21,000 | -6,000 | 6,000 | -8,000 |
| Employee Costs | 616,000 | 528,000 | 419,000 | 357,000 | 420,000 | 399,000 | 359,000 | 311,000 | 304,000 | 229,000 | 247,000 | 231,000 | 242,000 | 240,000 | 223,000 |
| Number Of Employees | 16 | 17 | 14 | 16 | 16 | 16 | 16 | 17 | 11 | 11 | 10 | 10 | 10 | 9 | 11 |
| EBITDA* | 401,000 | 435,000 | 496,000 | 415,000 | 279,000 | 294,000 | 294,000 | 319,000 | 237,000 | 238,000 | 280,000 | 173,000 | 162,000 | 141,000 | 177,000 |
* 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 | 77,000 | 100,000 | 106,000 | 123,000 | 152,000 | 140,000 | 160,000 | 175,000 | 184,000 | 36,000 | 42,000 | 51,000 | 65,000 | 84,000 | 89,000 |
| Intangible Assets | |||||||||||||||
| Investments & Other | |||||||||||||||
| Debtors (Due After 1 year) | 55,000 | 1,000 | |||||||||||||
| Total Fixed Assets | 132,000 | 101,000 | 106,000 | 123,000 | 152,000 | 140,000 | 160,000 | 175,000 | 184,000 | 36,000 | 42,000 | 51,000 | 65,000 | 84,000 | 89,000 |
| Stock & work in progress | 50,000 | 38,000 | 35,000 | 47,000 | 47,000 | 49,000 | 42,000 | 51,000 | 49,000 | 39,000 | 43,000 | 29,000 | 53,000 | 39,000 | 30,000 |
| Trade Debtors | 112,000 | 34,000 | 35,000 | 26,000 | 34,000 | 16,000 | 20,000 | 25,000 | 24,000 | 15,000 | 16,000 | 10,000 | 10,000 | 10,000 | 11,000 |
| Group Debtors | 159,000 | 326,000 | 253,000 | 79,000 | 43,000 | 21,000 | 13,000 | 51,000 | 26,000 | 47,000 | 65,000 | 51,000 | 59,000 | 73,000 | 59,000 |
| Misc Debtors | 23,000 | 6,000 | 31,000 | 31,000 | 31,000 | 31,000 | 30,000 | 34,000 | 37,000 | 31,000 | 26,000 | 48,000 | 62,000 | 64,000 | 64,000 |
| Cash | 14,000 | 5,000 | 2,000 | 6,000 | 5,000 | 5,000 | 6,000 | 7,000 | 2,000 | ||||||
| misc current assets | |||||||||||||||
| total current assets | 358,000 | 409,000 | 356,000 | 189,000 | 160,000 | 122,000 | 111,000 | 168,000 | 138,000 | 132,000 | 150,000 | 138,000 | 184,000 | 186,000 | 164,000 |
| total assets | 490,000 | 510,000 | 462,000 | 312,000 | 312,000 | 262,000 | 271,000 | 343,000 | 322,000 | 168,000 | 192,000 | 189,000 | 249,000 | 270,000 | 253,000 |
| Bank overdraft | |||||||||||||||
| Bank loan | |||||||||||||||
| Trade Creditors | 98,000 | 73,000 | 101,000 | 97,000 | 110,000 | 79,000 | 75,000 | 89,000 | 183,000 | 43,000 | 43,000 | 37,000 | 49,000 | 50,000 | 34,000 |
| Group/Directors Accounts | 36,000 | 49,000 | 33,000 | 29,000 | 36,000 | 33,000 | 47,000 | 50,000 | 10,000 | 9,000 | 7,000 | 7,000 | 17,000 | 16,000 | 8,000 |
| other short term finances | |||||||||||||||
| hp & lease commitments | 3,000 | 6,000 | 6,000 | ||||||||||||
| other current liabilities | 116,000 | 118,000 | 139,000 | 98,000 | 96,000 | 90,000 | 96,000 | 93,000 | 51,000 | 58,000 | 54,000 | 38,000 | 49,000 | 39,000 | 48,000 |
| total current liabilities | 250,000 | 240,000 | 273,000 | 224,000 | 242,000 | 202,000 | 218,000 | 232,000 | 244,000 | 110,000 | 104,000 | 85,000 | 121,000 | 111,000 | 90,000 |
| loans | 3,000 | 11,000 | 1,000 | 12,000 | 23,000 | 7,000 | 10,000 | 48,000 | |||||||
| hp & lease commitments | 3,000 | 9,000 | |||||||||||||
| Accruals and Deferred Income | 1,000 | 4,000 | 3,000 | ||||||||||||
| other liabilities | |||||||||||||||
| provisions | 1,000 | 1,000 | 19,000 | 38,000 | |||||||||||
| total long term liabilities | 3,000 | 11,000 | 1,000 | 12,000 | 23,000 | 7,000 | 12,000 | 52,000 | 4,000 | 3,000 | 28,000 | 38,000 | |||
| total liabilities | 253,000 | 251,000 | 274,000 | 236,000 | 265,000 | 209,000 | 230,000 | 284,000 | 248,000 | 110,000 | 104,000 | 85,000 | 124,000 | 139,000 | 128,000 |
| net assets | 237,000 | 259,000 | 188,000 | 76,000 | 47,000 | 53,000 | 41,000 | 59,000 | 74,000 | 58,000 | 88,000 | 104,000 | 125,000 | 131,000 | 125,000 |
| total shareholders funds | 237,000 | 259,000 | 188,000 | 76,000 | 47,000 | 53,000 | 41,000 | 59,000 | 74,000 | 58,000 | 88,000 | 104,000 | 125,000 | 131,000 | 125,000 |
| 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 | 374,000 | 407,000 | 471,000 | 379,000 | 246,000 | 266,000 | 263,000 | 289,000 | 226,000 | 217,000 | 189,000 | 153,000 | 139,000 | 118,000 | 147,000 |
| Depreciation | 27,000 | 28,000 | 25,000 | 36,000 | 33,000 | 28,000 | 31,000 | 30,000 | 11,000 | 21,000 | 91,000 | 20,000 | 23,000 | 23,000 | 30,000 |
| Amortisation | |||||||||||||||
| Tax | -95,000 | -77,000 | -89,000 | -72,000 | -48,000 | -51,000 | -53,000 | -52,000 | -45,000 | -48,000 | -44,000 | -39,000 | -40,000 | -31,000 | -41,000 |
| Stock | 12,000 | 3,000 | -12,000 | -2,000 | 7,000 | -9,000 | 2,000 | 10,000 | -4,000 | 14,000 | -24,000 | 14,000 | 9,000 | 30,000 | |
| Debtors | -18,000 | 48,000 | 183,000 | 28,000 | 40,000 | 5,000 | -47,000 | 23,000 | -6,000 | -14,000 | -2,000 | -22,000 | -16,000 | 13,000 | 134,000 |
| Creditors | 25,000 | -28,000 | 4,000 | -13,000 | 31,000 | 4,000 | -14,000 | -94,000 | 140,000 | 6,000 | -12,000 | -1,000 | 16,000 | 34,000 | |
| Accruals and Deferred Income | -2,000 | -21,000 | 41,000 | 2,000 | 6,000 | -7,000 | 43,000 | -4,000 | 4,000 | 16,000 | -11,000 | 10,000 | -9,000 | 48,000 | |
| Deferred Taxes & Provisions | -1,000 | 1,000 | -1,000 | 1,000 | -19,000 | -19,000 | 38,000 | ||||||||
| Cash flow from operations | 335,000 | 258,000 | 281,000 | 304,000 | 230,000 | 227,000 | 284,000 | 190,000 | 325,000 | 212,000 | 246,000 | 157,000 | 114,000 | 76,000 | 92,000 |
| Investing Activities | |||||||||||||||
| capital expenditure | -15,000 | -10,000 | -6,000 | -4,000 | -19,000 | -9,000 | |||||||||
| Change in Investments | |||||||||||||||
| cash flow from investments | -15,000 | -10,000 | -6,000 | -4,000 | -19,000 | -9,000 | |||||||||
| Financing Activities | |||||||||||||||
| Bank loans | |||||||||||||||
| Group/Directors Accounts | -13,000 | 16,000 | 4,000 | -7,000 | 3,000 | -14,000 | -3,000 | 40,000 | 1,000 | 2,000 | -10,000 | 1,000 | 8,000 | 8,000 | |
| Other Short Term Loans | |||||||||||||||
| Long term loans | -8,000 | 10,000 | -11,000 | -11,000 | 16,000 | -3,000 | -38,000 | 48,000 | |||||||
| Hire Purchase and Lease Commitments | -3,000 | -6,000 | -6,000 | 15,000 | |||||||||||
| other long term liabilities | |||||||||||||||
| share issue | |||||||||||||||
| interest | 19,000 | 1,000 | 1,000 | -2,000 | -2,000 | 1,000 | 1,000 | -6,000 | 1,000 | ||||||
| cash flow from financing | -2,000 | 27,000 | -7,000 | -18,000 | 20,000 | -17,000 | -43,000 | 86,000 | 1,000 | 3,000 | -2,000 | -16,000 | -5,000 | 17,000 | 142,000 |
| cash and cash equivalents | |||||||||||||||
| cash | 9,000 | 3,000 | -4,000 | 1,000 | -1,000 | -1,000 | 5,000 | 2,000 | |||||||
| overdraft | |||||||||||||||
| change in cash | 9,000 | 3,000 | -4,000 | 1,000 | -1,000 | -1,000 | 5,000 | 2,000 |
worthing v.e. limited Credit Report and Business Information
Worthing V.e. Limited Competitor Analysis
Perform a competitor analysis for worthing v.e. limited by selecting its closest rivals, whether from the OTHER SERVICE ACTIVITIES sector, other small companies, companies in NG11 area or any other competitors across 12 key performance metrics.
worthing v.e. limited Ownership
WORTHING V.E. LIMITED group structure
Worthing V.E. Limited has no subsidiary companies.
Ultimate parent company
HAL TRUST.
#0083580
2 parents
WORTHING V.E. LIMITED
03109722
worthing v.e. limited directors
Worthing V.E. Limited currently has 4 directors. The longest serving directors include Mr Peter Georgiou (Jan 2007) and Mr Robert Gage (Jan 2007).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Peter Georgiou | 52 years | Jan 2007 | - | Director | |
| Mr Robert Gage | United Kingdom | 57 years | Jan 2007 | - | Director |
| Mr Philip Hyde | 59 years | Oct 2017 | - | Director | |
| Mr Daniel McGhee | 39 years | Apr 2023 | - | Director |
P&L
December 2023turnover
2m
+12%
operating profit
374k
-8%
gross margin
72.1%
-3.29%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
237k
-0.08%
total assets
490k
-0.04%
cash
14k
+1.8%
net assets
Total assets minus all liabilities
worthing v.e. limited company details
company number
03109722
Type
Private limited with Share Capital
industry
96090 - Other personal service activities n.e.c.
incorporation date
October 1995
age
30
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
December 2023
previous names
N/A
accountant
-
auditor
UHY HACKER YOUNG
address
mere way, ruddington fields business park, nottingham, nottinghamshire, NG11 6NZ
Bank
HSBC BANK PLC
Legal Advisor
KNIGHTS PLC
worthing v.e. limited Charges & Mortgages
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 1 charges/mortgages relating to worthing v.e. limited. Currently there are 1 open charges and 0 have been satisfied in the past.
worthing v.e. limited Capital Raised & Share Issues BETA
When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.
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worthing v.e. limited Companies House Filings - See Documents
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