thermax europe limited
thermax europe limited Company Information
Company Number
03183441
Next Accounts
Dec 2025
Shareholders
thermax limited
Group Structure
View All
Industry
Other engineering activities (not including engineering design for industrial process and production or engineering related scientific and technical consulting activities)
Registered Address
the stable yard vicarage road, stony stratford, milton keynes, buckinghamshire, MK11 1BN
Website
www.thermax-europe.comthermax europe limited Estimated Valuation
Pomanda estimates the enterprise value of THERMAX EUROPE LIMITED at £2.7m based on a Turnover of £5.8m and 0.47x industry multiple (adjusted for size and gross margin).
thermax europe limited Estimated Valuation
Pomanda estimates the enterprise value of THERMAX EUROPE LIMITED at £819k based on an EBITDA of £213.9k and a 3.83x industry multiple (adjusted for size and gross margin).
thermax europe limited Estimated Valuation
Pomanda estimates the enterprise value of THERMAX EUROPE LIMITED at £17.6m based on Net Assets of £6.8m and 2.57x industry multiple (adjusted for liquidity).
Edit your figures and get a professional valuation report.
Thermax Europe Limited Overview
Thermax Europe Limited is a live company located in milton keynes, MK11 1BN with a Companies House number of 03183441. It operates in the other engineering activities sector, SIC Code 71129. Founded in April 1996, it's largest shareholder is thermax limited with a 100% stake. Thermax Europe Limited is a mature, mid sized company, Pomanda has estimated its turnover at £5.8m with declining growth in recent years.
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Thermax Europe Limited Health Check
Pomanda's financial health check has awarded Thermax Europe Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 5 areas for improvement. Company Health Check FAQs
5 Strong
2 Regular
5 Weak
Size
annual sales of £5.8m, make it larger than the average company (£3.2m)
£5.8m - Thermax Europe Limited
£3.2m - Industry AVG
Growth
3 year (CAGR) sales growth of -5%, show it is growing at a slower rate (9.9%)
-5% - Thermax Europe Limited
9.9% - Industry AVG
Production
with a gross margin of 23.1%, this company has a higher cost of product (34.5%)
23.1% - Thermax Europe Limited
34.5% - Industry AVG
Profitability
an operating margin of 3.6% make it less profitable than the average company (6.3%)
3.6% - Thermax Europe Limited
6.3% - Industry AVG
Employees
with 8 employees, this is below the industry average (25)
8 - Thermax Europe Limited
25 - Industry AVG
Pay Structure
on an average salary of £45.8k, the company has an equivalent pay structure (£54k)
£45.8k - Thermax Europe Limited
£54k - Industry AVG
Efficiency
resulting in sales per employee of £719.4k, this is more efficient (£130.2k)
£719.4k - Thermax Europe Limited
£130.2k - Industry AVG
Debtor Days
it gets paid by customers after 80 days, this is near the average (69 days)
80 days - Thermax Europe Limited
69 days - Industry AVG
Creditor Days
its suppliers are paid after 2 days, this is quicker than average (27 days)
2 days - Thermax Europe Limited
27 days - Industry AVG
Stock Days
it holds stock equivalent to 6 days, this is less than average (39 days)
6 days - Thermax Europe Limited
39 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 480 weeks, this is more cash available to meet short term requirements (21 weeks)
480 weeks - Thermax Europe Limited
21 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 8.2%, this is a lower level of debt than the average (56.2%)
8.2% - Thermax Europe Limited
56.2% - Industry AVG
THERMAX EUROPE LIMITED financials
Thermax Europe Limited's latest turnover from March 2024 is £5.8 million and the company has net assets of £6.8 million. According to their latest financial statements, Thermax Europe Limited has 8 employees and maintains cash reserves of £5.6 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 | Mar 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 5,755,157 | 6,113,102 | 5,319,991 | 6,672,209 | 5,014,838 | 6,199,474 | 6,809,930 | 8,254,993 | 6,151,039 | 9,430,577 | 4,838,887 | 5,281,123 | 5,352,532 | 4,305,433 | 3,783,322 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 4,427,605 | 5,235,957 | 4,417,487 | 5,332,027 | 4,075,890 | 4,879,383 | 5,496,353 | 6,975,249 | 5,079,220 | 7,689,614 | 3,839,498 | 4,165,323 | 4,152,988 | 3,162,586 | 2,706,728 |
| Gross Profit | 1,327,552 | 877,145 | 902,504 | 1,340,182 | 938,948 | 1,320,091 | 1,313,577 | 1,279,744 | 1,071,819 | 1,740,963 | 999,389 | 1,115,800 | 1,199,544 | 1,142,847 | 1,076,594 |
| Admin Expenses | 1,117,812 | 629,706 | 889,669 | 874,836 | 825,983 | 719,860 | 851,117 | 455,706 | 471,571 | 1,069,183 | 749,550 | 509,031 | 613,451 | 596,144 | 477,179 |
| Operating Profit | 209,740 | 247,439 | 12,835 | 465,346 | 112,965 | 600,231 | 462,460 | 824,038 | 600,248 | 671,780 | 249,839 | 606,769 | 586,093 | 546,703 | 599,415 |
| Interest Payable | 0 | 0 | 0 | 0 | 0 | 72 | 192 | 35 | 103 | 0 | 12,724 | 7,672 | 0 | 0 | |
| Interest Receivable | 134,769 | 54,271 | 15,421 | 9,345 | 25,254 | 19,197 | 4,999 | 6,465 | 7,593 | 13,393 | 19,372 | 25,335 | 16,622 | 24,710 | 4,338 |
| Pre-Tax Profit | 344,509 | 301,710 | 28,256 | 474,691 | 138,219 | 619,356 | 467,267 | 830,468 | 607,738 | 685,173 | 269,211 | 632,104 | 611,864 | 571,413 | 603,753 |
| Tax | -88,289 | -57,559 | -5,322 | -90,261 | -29,534 | -88,000 | -118,212 | -159,417 | -130,370 | -143,683 | -66,743 | -152,884 | -158,581 | -160,462 | -170,109 |
| Profit After Tax | 256,220 | 244,151 | 22,934 | 384,430 | 108,685 | 531,356 | 349,055 | 671,051 | 477,368 | 541,490 | 202,468 | 479,220 | 453,283 | 410,951 | 433,644 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Profit | 256,220 | 244,151 | 22,934 | 384,430 | 108,685 | 531,356 | 349,055 | 671,051 | 477,368 | 541,490 | 202,468 | 479,220 | 453,283 | 410,951 | 433,644 |
| Employee Costs | 366,384 | 366,103 | 312,443 | 372,788 | 360,469 | 363,377 | 346,317 | 325,118 | 278,982 | 286,914 | 274,534 | 221,651 | 266,256 | 346,658 | 254,217 |
| Number Of Employees | 8 | 8 | 9 | 10 | 10 | 10 | 10 | 10 | 11 | 9 | 7 | 7 | 7 | 9 | 7 |
| EBITDA* | 213,878 | 252,184 | 17,212 | 470,690 | 115,272 | 601,646 | 463,115 | 827,563 | 603,353 | 674,295 | 252,441 | 612,624 | 588,593 | 549,372 | 601,585 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 | Mar 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 6,778 | 7,762 | 7,088 | 10,420 | 4,233 | 3,852 | 2,267 | 1,583 | 3,342 | 4,517 | 3,953 | 3,602 | 9,172 | 6,570 | 5,842 |
| Intangible Assets | 0 | 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 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 6,778 | 7,762 | 7,088 | 10,420 | 4,233 | 3,852 | 2,267 | 1,583 | 3,342 | 4,517 | 3,953 | 3,602 | 9,172 | 6,570 | 5,842 |
| Stock & work in progress | 82,969 | 1,145,246 | 806,965 | 502,690 | 405,935 | 272,823 | 1,254,752 | 1,951,847 | 1,444,828 | 1,294,841 | 503,090 | 628,154 | 304,272 | 612,635 | 184,400 |
| Trade Debtors | 1,266,256 | 1,572,308 | 3,215,606 | 1,909,256 | 2,071,204 | 3,379,773 | 3,031,372 | 1,251,269 | 1,558,867 | 3,259,774 | 1,566,524 | 2,062,728 | 1,713,087 | 1,318,217 | 609,803 |
| Group Debtors | 83,797 | 2,644,265 | 76,642 | 473,815 | 2,074,473 | 2,129,713 | 572,812 | 560,331 | 196,267 | 458,442 | 510,025 | 119,121 | 94,297 | 98,549 | 19,730 |
| Misc Debtors | 376,977 | 401,180 | 2,827,569 | 22,449 | 67,458 | 413,911 | 12,141 | 14,727 | 25,218 | 19,890 | 28,030 | 53,854 | 19,254 | 76,218 | 8,855 |
| Cash | 5,642,586 | 2,756,389 | 829,193 | 4,168,893 | 1,929,788 | 1,641,128 | 2,373,738 | 2,611,050 | 1,843,681 | 1,531,702 | 1,402,743 | 1,408,321 | 1,369,325 | 905,869 | 1,511,176 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9,399 | 0 |
| total current assets | 7,452,585 | 8,519,388 | 7,755,975 | 7,077,103 | 6,548,858 | 7,837,348 | 7,244,815 | 6,389,224 | 5,068,861 | 6,564,649 | 4,010,412 | 4,272,178 | 3,500,235 | 3,020,887 | 2,333,964 |
| total assets | 7,459,363 | 8,527,150 | 7,763,063 | 7,087,523 | 6,553,091 | 7,841,200 | 7,247,082 | 6,390,807 | 5,072,203 | 6,569,166 | 4,014,365 | 4,275,780 | 3,509,407 | 3,027,457 | 2,339,806 |
| Bank overdraft | 0 | 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 | 0 |
| Trade Creditors | 31,431 | 25,464 | 82,369 | 49,958 | 23,819 | 21,364 | 54,670 | 131,455 | 41,682 | 121,581 | 16,763 | 83,875 | 46,345 | 19,091 | 34,793 |
| Group/Directors Accounts | 80,850 | 1,210,095 | 704,329 | 281,531 | 11,058 | 1,414,328 | 1,026,781 | 580,342 | 387,448 | 2,387,452 | 486,728 | 808,859 | 386,084 | 556,415 | 215,826 |
| other short term finances | 0 | 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 | 0 |
| other current liabilities | 498,448 | 698,931 | 628,450 | 430,420 | 578,244 | 574,989 | 866,468 | 728,902 | 364,016 | 258,444 | 250,675 | 325,315 | 498,467 | 326,723 | 374,912 |
| total current liabilities | 610,729 | 1,934,490 | 1,415,148 | 761,909 | 613,121 | 2,010,681 | 1,947,919 | 1,440,699 | 793,146 | 2,767,477 | 754,166 | 1,218,049 | 930,896 | 902,229 | 625,531 |
| loans | 0 | 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 | 0 |
| Accruals and Deferred Income | 0 | 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 | 0 |
| provisions | 1,695 | 1,941 | 1,347 | 1,980 | 766 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 1,695 | 1,941 | 1,347 | 1,980 | 766 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total liabilities | 612,424 | 1,936,431 | 1,416,495 | 763,889 | 613,887 | 2,010,681 | 1,947,919 | 1,440,699 | 793,146 | 2,767,477 | 754,166 | 1,218,049 | 930,896 | 902,229 | 625,531 |
| net assets | 6,846,939 | 6,590,719 | 6,346,568 | 6,323,634 | 5,939,204 | 5,830,519 | 5,299,163 | 4,950,108 | 4,279,057 | 3,801,689 | 3,260,199 | 3,057,731 | 2,578,511 | 2,125,228 | 1,714,275 |
| total shareholders funds | 6,846,939 | 6,590,719 | 6,346,568 | 6,323,634 | 5,939,204 | 5,830,519 | 5,299,163 | 4,950,108 | 4,279,057 | 3,801,689 | 3,260,199 | 3,057,731 | 2,578,511 | 2,125,228 | 1,714,275 |
| Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 | Mar 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Operating Profit | 209,740 | 247,439 | 12,835 | 465,346 | 112,965 | 600,231 | 462,460 | 824,038 | 600,248 | 671,780 | 249,839 | 606,769 | 586,093 | 546,703 | 599,415 |
| Depreciation | 4,138 | 4,745 | 4,377 | 5,344 | 2,307 | 1,415 | 655 | 3,525 | 3,105 | 2,515 | 2,602 | 5,855 | 2,500 | 2,669 | 2,170 |
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tax | -88,289 | -57,559 | -5,322 | -90,261 | -29,534 | -88,000 | -118,212 | -159,417 | -130,370 | -143,683 | -66,743 | -152,884 | -158,581 | -160,462 | -170,109 |
| Stock | -1,062,277 | 338,281 | 304,275 | 96,755 | 133,112 | -981,929 | -697,095 | 507,019 | 149,987 | 791,751 | -125,064 | 323,882 | -308,363 | 428,235 | 184,400 |
| Debtors | -2,890,723 | -1,502,064 | 3,714,297 | -1,807,615 | -1,710,262 | 2,307,072 | 1,789,998 | 45,975 | -1,957,754 | 1,633,527 | -131,124 | 409,065 | 333,654 | 854,596 | 638,388 |
| Creditors | 5,967 | -56,905 | 32,411 | 26,139 | 2,455 | -33,306 | -76,785 | 89,773 | -79,899 | 104,818 | -67,112 | 37,530 | 27,254 | -15,702 | 34,793 |
| Accruals and Deferred Income | -200,483 | 70,481 | 198,030 | -147,824 | 3,255 | -291,479 | 137,566 | 364,886 | 105,572 | 7,769 | -74,640 | -173,152 | 171,744 | -48,189 | 374,912 |
| Deferred Taxes & Provisions | -246 | 594 | -633 | 1,214 | 766 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow from operations | 3,883,827 | 1,372,578 | -3,776,874 | 1,970,818 | 1,669,364 | -1,136,282 | -687,219 | 569,811 | 2,306,423 | -1,782,079 | 300,134 | -408,829 | 603,719 | -957,812 | 18,393 |
| Investing Activities | |||||||||||||||
| capital expenditure | 0 | 0 | 0 | 0 | 0 | -3,000 | -1,339 | -1,766 | -1,930 | -3,080 | -2,953 | -285 | -5,102 | -3,397 | -2,746 |
| Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | 0 | 0 | 0 | 0 | 0 | -3,000 | -1,339 | -1,766 | -1,930 | -3,080 | -2,953 | -285 | -5,102 | -3,397 | -2,746 |
| Financing Activities | |||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | -1,129,245 | 505,766 | 422,798 | 270,473 | -1,403,270 | 387,547 | 446,439 | 192,894 | -2,000,004 | 1,900,724 | -322,131 | 422,775 | -170,331 | 340,589 | 215,826 |
| Other Short Term Loans | 0 | 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 | 0 |
| Hire Purchase and Lease Commitments | 0 | 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 | 0 |
| share issue | |||||||||||||||
| interest | 134,769 | 54,271 | 15,421 | 9,345 | 25,254 | 19,125 | 4,807 | 6,430 | 7,490 | 13,393 | 6,648 | 8,950 | 24,710 | 4,338 | |
| cash flow from financing | -994,476 | 560,037 | 438,219 | 279,818 | -1,378,016 | 406,672 | 451,246 | 199,324 | -1,992,514 | 1,914,117 | -315,483 | -161,381 | 365,301 | 1,500,795 | |
| cash and cash equivalents | |||||||||||||||
| cash | 2,886,197 | 1,927,196 | -3,339,700 | 2,239,105 | 288,660 | -732,610 | -237,312 | 767,369 | 311,979 | 128,959 | -5,578 | 38,996 | 463,456 | -605,307 | 1,511,176 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | 2,886,197 | 1,927,196 | -3,339,700 | 2,239,105 | 288,660 | -732,610 | -237,312 | 767,369 | 311,979 | 128,959 | -5,578 | 38,996 | 463,456 | -605,307 | 1,511,176 |
thermax europe limited Credit Report and Business Information
Thermax Europe Limited Competitor Analysis
Perform a competitor analysis for thermax europe limited by selecting its closest rivals, whether from the PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES sector, other mid companies, companies in MK11 area or any other competitors across 12 key performance metrics.
thermax europe limited Ownership
THERMAX EUROPE LIMITED group structure
Thermax Europe Limited has no subsidiary companies.
Ultimate parent company
RDA HOLDINGS PRIVATE LTD
#0065412
THERMAX LTD
#0058588
2 parents
THERMAX EUROPE LIMITED
03183441
thermax europe limited directors
Thermax Europe Limited currently has 2 directors. The longest serving directors include Mr Venkatesh Balasubramanian (Apr 2018) and Mr Sandeep Mandke (Sep 2019).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Venkatesh Balasubramanian | India | 50 years | Apr 2018 | - | Director |
| Mr Sandeep Mandke | India | 54 years | Sep 2019 | - | Director |
P&L
March 2024turnover
5.8m
-6%
operating profit
209.7k
-15%
gross margin
23.1%
+60.76%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
March 2024net assets
6.8m
+0.04%
total assets
7.5m
-0.13%
cash
5.6m
+1.05%
net assets
Total assets minus all liabilities
thermax europe limited company details
company number
03183441
Type
Private limited with Share Capital
industry
71129 - Other engineering activities (not including engineering design for industrial process and production or engineering related scientific and technical consulting activities)
incorporation date
April 1996
age
29
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
March 2024
previous names
thermax (uk) limited (April 1997)
accountant
-
auditor
CED ACCOUNTANCY SERVICES LIMITED
address
the stable yard vicarage road, stony stratford, milton keynes, buckinghamshire, MK11 1BN
Bank
NATIONAL WESTMINSTER BANK PLC
Legal Advisor
-
thermax europe 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 3 charges/mortgages relating to thermax europe limited. Currently there are 0 open charges and 3 have been satisfied in the past.
thermax europe 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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thermax europe limited Companies House Filings - See Documents
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