Offtek Limited

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offtek limited Company Information

Company Number

03148866

Next Accounts

Apr 2025

Directors

Brian Harmer

Michele Harmer

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Shareholders

michele louise harmer

brian anthony mark harmer

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Group Structure

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Industry

Business and domestic software development

Registered Address

claremont house, claremont house, broad lane, solihull, west midlands, B94 5DY

Website

www.offtek.co.uk

offtek limited Estimated Valuation

£2.6m

Pomanda estimates the enterprise value of OFFTEK LIMITED at £2.6m based on Net Assets of £1.1m and 2.31x industry multiple (adjusted for liquidity).

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Offtek Limited is a live company located in solihull, B94 5DY with a Companies House number of 03148866. It operates in the business and domestic software development sector, SIC Code 62012. Founded in January 1996, it's largest shareholder is michele louise harmer with a 35% stake. Offtek Limited is a mature, small sized company, Pomanda has estimated its turnover at £962.6k with high growth in recent years.

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Pomanda's financial health check has awarded Offtek Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 3 areas for improvement. Company Health Check FAQs

Health Rating5out of 5

7 Strong

2 Regular

3 Weak

Size

annual sales of £962.6k, make it smaller than the average company (£5m)

Growth

3 year (CAGR) sales growth of 23%, show it is growing at a faster rate (7.6%)

EXPORT

Offtek Limited's latest turnover from July 2023 is estimated at £962.6 thousand and the company has net assets of £1.1 million. According to their latest financial statements, Offtek Limited has 5 employees and maintains cash reserves of £1.2 million as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Jul 2023	Jul 2022	Jul 2021	Jul 2020	Jul 2019	Jul 2018	Jul 2017	Jul 2016	Jul 2015	Jul 2014	Jul 2013	Jul 2012	Jul 2011	Jul 2010	Jul 2009
Turnover	962,578	917,740	854,927	521,342	830,725	681,048	644,602	432,430	338,358	368,278	196,287	269,897	311,951	840,146	1,803,630
Other Income Or Grants
Cost Of Sales	374,479	344,319	327,679	195,571	310,626	251,979	238,406	153,664	122,501	138,238	70,415	97,320	109,464	294,140	1,086,305
Gross Profit	588,099	573,421	527,249	325,771	520,100	429,069	406,196	278,766	215,857	230,040	125,872	172,577	202,487	546,006	717,325
Admin Expenses	485,736	603,583	615,444	98,420	244,237	229,220	371,828	106,799	293,026	192,316	131,264	218,879	273,001	559,687	424,785
Operating Profit	102,363	-30,162	-88,195	227,351	275,863	199,849	34,368	171,967	-77,169	37,724	-5,392	-46,302	-70,514	-13,681	292,540
Interest Payable
Interest Receivable	58,456	13,784	1,140	1,052	6,049	3,458	1,522	2,993	3,770	3,900	3,237	3,174	3,513	3,792	7,056
Pre-Tax Profit	160,819	-16,378	-87,055	228,404	281,912	203,307	35,890	174,960	-73,399	41,624	-2,155	-43,128	-67,001	-9,889	299,596
Tax	-40,205			-43,397	-53,563	-38,628	-6,819	-34,992		-8,741					-62,856
Profit After Tax	120,614	-16,378	-87,055	185,007	228,349	164,679	29,071	139,968	-73,399	32,883	-2,155	-43,128	-67,001	-9,889	236,740
Dividends Paid															197,705
Retained Profit	120,614	-16,378	-87,055	185,007	228,349	164,679	29,071	139,968	-73,399	32,883	-2,155	-43,128	-67,001	-9,889	39,035
Employee Costs	345,146	520,907	611,496	344,115	361,275	349,551	391,640	323,596	161,874	160,766	102,047	155,197	148,247	389,121
Number Of Employees	5	8	10	6	6	6	7	6	3	3	2	3	3	8
EBITDA*	103,366	-28,824	-86,411	238,349	290,361	217,811	50,331	191,577	-74,124	40,209	-3,345	-44,830	-69,697	-13,314	292,569

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Jul 2023	Jul 2022	Jul 2021	Jul 2020	Jul 2019	Jul 2018	Jul 2017	Jul 2016	Jul 2015	Jul 2014	Jul 2013	Jul 2012	Jul 2011	Jul 2010	Jul 2009
Tangible Assets	3,011	4,014	222,397	224,181	260,539	270,931	264,933	275,877	3,387	3,856	1,501	1,803	1,292	745
Intangible Assets
Investments & Other
Debtors (Due After 1 year)
Total Fixed Assets	3,011	4,014	222,397	224,181	260,539	270,931	264,933	275,877	3,387	3,856	1,501	1,803	1,292	745
Stock & work in progress	7,145	7,984	8,291	7,426	6,217	8,296	6,967	5,163	8,390	6,103	9,268	12,265	9,877	7,226	9,860
Trade Debtors	189,251	133,760	87,277	44,910	153,159	97,427	78,940	30,476	44,367	34,258	16,667	31,235	42,437	126,434	6,880
Group Debtors
Misc Debtors
Cash	1,179,935	1,158,300	1,047,215	1,232,033	872,921	740,232	643,060	574,607	622,747	885,351	674,722	619,993	649,802	755,483	761,490
misc current assets
total current assets	1,376,331	1,300,044	1,142,783	1,284,369	1,032,297	845,955	728,967	610,246	675,504	925,712	700,657	663,493	702,116	889,143	778,230
total assets	1,379,342	1,304,058	1,365,180	1,508,550	1,292,836	1,116,886	993,900	886,123	678,891	929,568	702,158	665,296	703,408	889,888	778,230
Bank overdraft
Bank loan
Trade Creditors	259,234	304,564	303,422	349,559	320,979	364,143	315,767	215,207	323,036	500,314	305,787	266,770	261,754	381,233	150,405
Group/Directors Accounts
other short term finances
hp & lease commitments
other current liabilities							81,208	94,019							109,281
total current liabilities	259,234	304,564	303,422	349,559	320,979	364,143	396,975	309,226	323,036	500,314	305,787	266,770	261,754	381,233	259,686
loans
hp & lease commitments
Accruals and Deferred Income
other liabilities			45,886	56,064	53,935	63,170	72,031	81,074
provisions
total long term liabilities			45,886	56,064	53,935	63,170	72,031	81,074
total liabilities	259,234	304,564	349,308	405,623	374,914	427,313	469,006	390,300	323,036	500,314	305,787	266,770	261,754	381,233	259,686
net assets	1,120,108	999,494	1,015,872	1,102,927	917,922	689,573	524,894	495,823	355,855	429,254	396,371	398,526	441,654	508,655	518,544
total shareholders funds	1,120,108	999,494	1,015,872	1,102,927	917,922	689,573	524,894	495,823	355,855	429,254	396,371	398,526	441,654	508,655	518,544

	Jul 2023	Jul 2022	Jul 2021	Jul 2020	Jul 2019	Jul 2018	Jul 2017	Jul 2016	Jul 2015	Jul 2014	Jul 2013	Jul 2012	Jul 2011	Jul 2010	Jul 2009
Operating Activities
Operating Profit	102,363	-30,162	-88,195	227,351	275,863	199,849	34,368	171,967	-77,169	37,724	-5,392	-46,302	-70,514	-13,681	292,540
Depreciation	1,003	1,338	1,784	10,998	14,498	17,962	15,963	19,610	3,045	2,485	2,047	1,472	817	367	29
Amortisation
Tax	-40,205			-43,397	-53,563	-38,628	-6,819	-34,992		-8,741					-62,856
Stock	-839	-307	865	1,209	-2,079	1,329	1,804	-3,227	2,287	-3,165	-2,997	2,388	2,651	-2,634	9,860
Debtors	55,491	46,483	42,367	-108,249	55,732	18,487	48,464	-13,891	10,109	17,591	-14,568	-11,202	-83,997	119,554	6,880
Creditors	-45,330	1,142	-46,137	28,580	-43,164	48,376	100,560	-107,829	-177,278	194,527	39,017	5,016	-119,479	230,828	150,405
Accruals and Deferred Income						-81,208	-12,811	94,019						-109,281	109,281
Deferred Taxes & Provisions
Cash flow from operations	-36,821	-73,858	-175,780	330,572	139,981	126,535	80,993	159,893	-263,798	211,569	53,237	-31,000	-107,830	-8,687	472,659
Investing Activities
capital expenditure		217,045		25,360	-4,106	-23,960	-5,019	-292,100	-2,576	-4,840	-1,745	-1,983	-1,364	-1,112	-29
Change in Investments
cash flow from investments		217,045		25,360	-4,106	-23,960	-5,019	-292,100	-2,576	-4,840	-1,745	-1,983	-1,364	-1,112	-29
Financing Activities
Bank loans
Group/Directors Accounts
Other Short Term Loans
Long term loans
Hire Purchase and Lease Commitments
other long term liabilities		-45,886	-10,178	2,129	-9,235	-8,861	-9,043	81,074
share issue				-2											479,509
interest	58,456	13,784	1,140	1,052	6,049	3,458	1,522	2,993	3,770	3,900	3,237	3,174	3,513	3,792	7,056
cash flow from financing	58,456	-32,102	-9,038	3,179	-3,186	-5,403	-7,521	84,067	3,770	3,900	3,237	3,174	3,513	3,792	486,565
cash and cash equivalents
cash	21,635	111,085	-184,818	359,112	132,689	97,172	68,453	-48,140	-262,604	210,629	54,729	-29,809	-105,681	-6,007	761,490
overdraft
change in cash	21,635	111,085	-184,818	359,112	132,689	97,172	68,453	-48,140	-262,604	210,629	54,729	-29,809	-105,681	-6,007	761,490

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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OFFTEK LIMITED group structure

Offtek Limited has no subsidiary companies.

Ultimate parent company

OFFTEK LIMITED

03148866

OFFTEK LIMITED Shareholders

michele louise harmer	35%
brian anthony mark harmer	35%
benjamin james harmer	15%
charlotte louise harmer	15%

Offtek Limited currently has 5 directors. The longest serving directors include Mr Brian Harmer (Jan 1996) and Mrs Michele Harmer (Jan 2006).

officer	country	age	start	end	role
Mr Brian Harmer	United Kingdom	60 years	Jan 1996	-	Director
Mrs Michele Harmer	United Kingdom	57 years	Jan 2006	-	Director
Mr Benjamin Harmer	United Kingdom	29 years	Mar 2016	-	Director
Mrs Sarah-Jayne O'Donnell	United Kingdom	43 years	Mar 2016	-	Director
Miss Charlotte Harmer	United Kingdom	22 years	Sep 2020	-	Director

P&L

July 2023

turnover

962.6k

+5%

operating profit

102.4k

gross margin

61.1%

-2.22%

turnover

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

Balance Sheet

July 2023

net assets

1.1m

+0.12%

total assets

1.4m

+0.06%

cash

1.2m

+0.02%

net assets

Total assets minus all liabilities

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company number

03148866

Type

Private limited with Share Capital

industry

62012 - Business and domestic software development

62090 - Other information technology and computer service activities

incorporation date

January 1996

ultimate parent company

None

previous names

N/A

address

claremont house, claremont house, broad lane, solihull, west midlands, B94 5DY

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 2 charges/mortgages relating to offtek limited. Currently there are 2 open charges and 0 have been satisfied in the past.

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offtek limited Company Information

offtek limited Estimated Valuation

offtek limited Estimated Valuation

offtek limited Estimated Valuation

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