Ipec Limited

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ipec limited Company Information

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Company Number

03123703

Website

www.ipec.co.uk

Registered Address

c/o djh mitten clarke, st george's house, manchester, M2 3NQ

Industry

Manufacture of electricity distribution and control apparatus

Telephone

01612260045

Next Accounts Due

December 2024

Group Structure

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Directors

Colin Smith28 Years

Steven Brookfield17 Years

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Shareholders

colin duncan smith 65%

koen tavernier 8.6%

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ipec limited Estimated Valuation

£5.9m

Pomanda estimates the enterprise value of IPEC LIMITED at £5.9m based on Net Assets of £2.3m and 2.61x industry multiple (adjusted for liquidity).

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Ipec Limited is a live company located in manchester, M2 3NQ with a Companies House number of 03123703. It operates in the manufacture of electricity distribution and control apparatus sector, SIC Code 27120. Founded in November 1995, it's largest shareholder is colin duncan smith with a 65% stake. Ipec Limited is a mature, small sized company, Pomanda has estimated its turnover at £2.2m with healthy growth in recent years.

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Pomanda's financial health check has awarded Ipec Limited a 4 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 5 areas for improvement. Company Health Check FAQs

Health Rating4out of 5

3 Strong

4 Regular

5 Weak

Size

annual sales of £2.2m, make it smaller than the average company (£18.5m)

Growth

3 year (CAGR) sales growth of 5%, show it is growing at a similar rate (5.5%)

EXPORT

Ipec Limited's latest turnover from March 2023 is estimated at £2.2 million and the company has net assets of £2.3 million. According to their latest financial statements, Ipec Limited has 33 employees and maintains cash reserves of £209.2 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Turnover	2,158,722	3,492,526	4,016,220	1,885,065	1,846,719	1,970,962	2,477,558	2,085,085	1,923,335	1,440,732	935,258	1,033,982	1,566,938	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,627,166	2,649,881	3,002,469	1,398,271	1,360,476	1,489,161	1,857,042	1,549,825	1,372,678	1,031,972	670,577	747,796	1,133,239	0
Gross Profit	531,556	842,645	1,013,752	486,794	486,244	481,801	620,517	535,260	550,657	408,760	264,681	286,186	433,698	0
Admin Expenses	463,403	88,361	611,299	233,278	552,941	262,060	288,029	320,106	262,587	292,665	263,802	267,465	417,084	147,819
Operating Profit	68,153	754,284	402,453	253,516	-66,697	219,741	332,488	215,154	288,070	116,095	879	18,721	16,614	-147,819
Interest Payable	34,999	24,332	11,277	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	9,887	1,936	168	41	1,326	1,004	242	518	168	1	1	1	1	1
Pre-Tax Profit	43,041	731,888	391,344	253,557	-65,371	220,744	332,730	215,673	288,238	116,096	880	18,722	16,615	-147,818
Tax	-8,178	-139,059	-74,355	-48,176	0	-41,941	-66,546	-43,134	-60,530	-26,702	-211	-4,868	-4,652	0
Profit After Tax	34,863	592,829	316,989	205,381	-65,371	178,803	266,184	172,538	227,708	89,394	669	13,854	11,963	-147,818
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	34,863	592,829	316,989	205,381	-65,371	178,803	266,184	172,538	227,708	89,394	669	13,854	11,963	-147,818
Employee Costs	1,474,383	1,222,914	1,118,385	968,386	988,261	869,833	843,820	763,595	495,863	321,042	199,405	193,868	307,359	0
Number Of Employees	33	29	27	25	26	23	23	20	13	10	6	6	10	0
EBITDA*	235,144	1,106,689	492,824	276,270	-66,697	243,824	357,571	243,739	305,771	128,053	14,050	29,594	33,281	-128,038

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Tangible Assets	709,223	717,207	649,620	54,125	67,086	71,166	57,916	56,896	58,011	21,761	22,279	22,013	8,634	11,967
Intangible Assets	645,857	592,328	639,110	376,846	171,991	19,745	25,163	35,098	18,642	7,226	10,839	16,259	24,388	25,314
Investments & Other	49,801	59,542	0	0	0	0	0	35,000	70,000	70,000	70,000	70,000	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	1,404,881	1,369,077	1,288,730	430,971	239,077	90,911	83,079	126,994	146,653	98,987	103,118	108,272	33,022	37,281
Stock & work in progress	570,196	631,669	1,130,105	342,982	322,528	294,607	204,445	280,740	207,792	70,180	132,266	114,460	71,937	78,491
Trade Debtors	69,118	932,510	858,130	288,239	258,988	395,733	726,187	493,024	412,541	342,741	132,728	148,449	307,438	163,057
Group Debtors	609,033	232,089	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	198,067	190,980	433,626	461,795	322,671	216,150	117,610	80,322	840	0	0	0	0	0
Cash	209,206	256,056	260,166	76,635	5,863	347,863	53,661	140,154	67,083	115	196	147	152	312
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	1,655,620	2,243,304	2,682,027	1,169,651	910,050	1,254,353	1,101,903	994,240	688,256	413,036	265,190	263,056	379,527	241,860
total assets	3,060,501	3,612,381	3,970,757	1,600,622	1,149,127	1,345,264	1,184,982	1,121,234	834,909	512,023	368,308	371,328	412,549	279,141
Bank overdraft	0	0	18,703	0	0	0	0	0	0	0	0	0	0	0
Bank loan	20,279	19,682	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	141,721	125,307	315,533	135,169	56,244	53,068	80,602	112,055	349,484	290,622	234,324	246,915	347,270	225,825
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	2,000	2,000	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	160,153	761,211	1,665,605	179,297	62,128	196,070	178,733	358,040	0	0	0	0	0	0
total current liabilities	322,153	906,200	1,999,841	314,466	118,372	249,138	259,335	470,095	349,484	290,622	236,324	248,915	347,270	225,825
loans	311,402	331,548	351,025	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	0	0
provisions	150,194	148,049	0	0	0	0	8,324	0	6,824	2,446	2,423	266	266	266
total long term liabilities	461,596	479,597	351,025	0	0	0	8,324	0	6,824	2,446	2,423	266	266	266
total liabilities	783,749	1,385,797	2,350,866	314,466	118,372	249,138	267,659	470,095	356,308	293,068	238,747	249,181	347,536	226,091
net assets	2,276,752	2,226,584	1,619,891	1,286,156	1,030,755	1,096,126	917,323	651,139	478,601	218,955	129,561	122,147	65,013	53,050
total shareholders funds	2,276,752	2,226,584	1,619,891	1,286,156	1,030,755	1,096,126	917,323	651,139	478,601	218,955	129,561	122,147	65,013	53,050

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Operating Activities
Operating Profit	68,153	754,284	402,453	253,516	-66,697	219,741	332,488	215,154	288,070	116,095	879	18,721	16,614	-147,819
Depreciation	35,390	36,180	20,662	19,357	0	18,609	15,004	15,902	11,897	8,345	7,751	2,744	4,491	7,124
Amortisation	131,601	316,225	69,709	3,397	0	5,474	10,079	12,683	5,804	3,613	5,420	8,129	12,176	12,657
Tax	-8,178	-139,059	-74,355	-48,176	0	-41,941	-66,546	-43,134	-60,530	-26,702	-211	-4,868	-4,652	0
Stock	-61,473	-498,436	787,123	20,454	27,921	90,162	-76,295	72,948	207,792	-62,086	17,806	42,523	-6,554	78,491
Debtors	-479,361	63,823	541,722	168,375	-30,224	-231,914	270,451	159,965	413,381	210,013	-15,721	-158,989	144,381	163,057
Creditors	16,414	-190,226	180,364	78,925	3,176	-27,534	-31,453	-237,429	349,484	56,298	-12,591	-100,355	121,445	225,825
Accruals and Deferred Income	-601,058	-904,394	1,486,308	117,169	-133,942	17,337	-179,307	358,040	0	0	0	0	0	0
Deferred Taxes & Provisions	2,145	148,049	0	0	0	-8,324	8,324	-6,824	6,824	23	2,157	0	0	266
Cash flow from operations	185,301	455,672	756,296	235,359	-195,160	325,114	-105,567	81,479	-19,624	9,745	1,320	40,837	12,247	-143,495
Investing Activities
capital expenditure	-212,536	-373,210	-948,130	-214,648	-148,166	-31,915	-16,168	-43,926	-94,354	-7,827	-8,017	-16,123	-12,408	-57,062
Change in Investments	-9,741	59,542	0	0	0	0	-35,000	-35,000	70,000	0	0	70,000	0	0
cash flow from investments	-202,795	-432,752	-948,130	-214,648	-148,166	-31,915	18,832	-8,926	-164,354	-7,827	-8,017	-86,123	-12,408	-57,062
Financing Activities
Bank loans	597	19,682	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	-2,000	0	2,000	0	0
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	-20,146	-19,477	351,025	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	0	0	0
share issue	15,305	13,864	16,746	50,020	0	0	0	0	250,893	0	6,745	43,280	0	200,868
interest	-25,112	-22,396	-11,109	41	1,326	1,004	242	518	168	1	1	1	1	1
cash flow from financing	-29,356	-8,327	356,662	50,061	1,326	1,004	242	518	251,061	-1,999	6,746	45,281	1	200,869
cash and cash equivalents
cash	-46,850	-4,110	183,531	70,772	-342,000	294,202	-86,493	73,071	67,083	-81	49	-5	-160	312
overdraft	0	-18,703	18,703	0	0	0	0	0	0	0	0	0	0	0
change in cash	-46,850	14,593	164,828	70,772	-342,000	294,202	-86,493	73,071	67,083	-81	49	-5	-160	312

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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IPEC LIMITED group structure

Ipec Limited has no subsidiary companies.

Ultimate parent company

IPEC LIMITED

03123703

IPEC LIMITED Shareholders

colin duncan smith	65.04%
koen tavernier	8.57%
jing zhao	8.57%
david michael mcleod north	8.38%
steven joseph brookfield	3.89%
mary catriona macarthur smith	3.36%
andrew clark	2.18%

Ipec Limited currently has 4 directors. The longest serving directors include Dr Colin Smith (Nov 1995) and Mr Steven Brookfield (Jan 2007).

officer	country	age	start	end	role
Dr Colin Smith	England	55 years	Nov 1995	-	Director
Mr Steven Brookfield	England	61 years	Jan 2007	-	Director
Mr David North		82 years	Jan 2010	-	Director
Mr Carl Eastham	England	38 years	Jan 2015	-	Director

P&L

March 2023

turnover

2.2m

-38%

operating profit

68.2k

gross margin

24.7%

+2.06%

turnover

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

Balance Sheet

March 2023

net assets

2.3m

+0.02%

total assets

3.1m

-0.15%

cash

209.2k

-0.18%

net assets

Total assets minus all liabilities

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company number

03123703

Type

Private limited with Share Capital

industry

27120 - Manufacture of electricity distribution and control apparatus

incorporation date

November 1995

age

accounts

Small Company

ultimate parent company

None

previous names

N/A

incorporated

address

c/o djh mitten clarke, st george's house, manchester, M2 3NQ

last accounts submitted

March 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 4 charges/mortgages relating to ipec limited. Currently there are 3 open charges and 1 have been satisfied in the past.

ipec limited Company Information

ipec limited Estimated Valuation

ipec limited Estimated Valuation

ipec limited Estimated Valuation

Ipec Limited Overview

Ipec Limited Health Check

IPEC LIMITED financials

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ipec limited Ownership

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