openfield agriculture limited
openfield agriculture limited Company Information
Company Number
03548572
Website
www.openfield.co.ukRegistered Address
honey pot lane, colsterworth, grantham, lincolnshire, NG33 5LY
Industry
Post-harvest crop activities
Telephone
01476862730
Next Accounts Due
March 2025
Group Structure
View All
Shareholders
openfield agriculture ltd 100%
openfield agriculture limited Estimated Valuation
Pomanda estimates the enterprise value of OPENFIELD AGRICULTURE LIMITED at £486.1m based on a Turnover of £806.3m and 0.6x industry multiple (adjusted for size and gross margin).
openfield agriculture limited Estimated Valuation
Pomanda estimates the enterprise value of OPENFIELD AGRICULTURE LIMITED at £37.6m based on an EBITDA of £5.6m and a 6.69x industry multiple (adjusted for size and gross margin).
openfield agriculture limited Estimated Valuation
Pomanda estimates the enterprise value of OPENFIELD AGRICULTURE LIMITED at £29m based on Net Assets of £20.8m and 1.4x industry multiple (adjusted for liquidity).
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Openfield Agriculture Limited Overview
Openfield Agriculture Limited is a live company located in grantham, NG33 5LY with a Companies House number of 03548572. It operates in the post-harvest crop activities sector, SIC Code 01630. Founded in April 1998, it's largest shareholder is openfield agriculture ltd with a 100% stake. Openfield Agriculture Limited is a mature, mega sized company, Pomanda has estimated its turnover at £806.3m with healthy growth in recent years.
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Openfield Agriculture Limited Health Check
Pomanda's financial health check has awarded Openfield Agriculture Limited a 3.5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 6 areas for improvement. Company Health Check FAQs
5 Strong
1 Regular
6 Weak
Size
annual sales of £806.3m, make it larger than the average company (£25.8m)
£806.3m - Openfield Agriculture Limited
£25.8m - Industry AVG
Growth
3 year (CAGR) sales growth of 8%, show it is growing at a faster rate (5.9%)
8% - Openfield Agriculture Limited
5.9% - Industry AVG
Production
with a gross margin of 5.4%, this company has a higher cost of product (6.8%)
5.4% - Openfield Agriculture Limited
6.8% - Industry AVG
Profitability
an operating margin of 0.6% make it less profitable than the average company (1.6%)
0.6% - Openfield Agriculture Limited
1.6% - Industry AVG
Employees
with 219 employees, this is above the industry average (28)
219 - Openfield Agriculture Limited
28 - Industry AVG
Pay Structure
on an average salary of £62.4k, the company has a higher pay structure (£44.1k)
£62.4k - Openfield Agriculture Limited
£44.1k - Industry AVG
Efficiency
resulting in sales per employee of £3.7m, this is more efficient (£964.7k)
£3.7m - Openfield Agriculture Limited
£964.7k - Industry AVG
Debtor Days
it gets paid by customers after 28 days, this is earlier than average (44 days)
28 days - Openfield Agriculture Limited
44 days - Industry AVG
Creditor Days
its suppliers are paid after 9 days, this is quicker than average (35 days)
9 days - Openfield Agriculture Limited
35 days - Industry AVG
Stock Days
it holds stock equivalent to 8 days, this is in line with average (9 days)
8 days - Openfield Agriculture Limited
9 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 1 weeks, this is less cash available to meet short term requirements (10 weeks)
1 weeks - Openfield Agriculture Limited
10 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 82.6%, this is a higher level of debt than the average (66.1%)
82.6% - Openfield Agriculture Limited
66.1% - Industry AVG
OPENFIELD AGRICULTURE LIMITED financials
Openfield Agriculture Limited's latest turnover from June 2023 is £806.3 million and the company has net assets of £20.8 million. According to their latest financial statements, Openfield Agriculture Limited has 219 employees and maintains cash reserves of £2.9 million 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 | 806,317,000 | 669,688,000 | 515,566,000 | 637,921,000 | 633,843,000 | 627,518,000 | 654,930,000 | 710,399,000 | 749,224,000 | 743,571,000 | 709,820,000 | 773,524,000 | 626,124,000 | 475,442,000 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 762,726,000 | 630,036,000 | 485,143,000 | 601,262,000 | 602,033,000 | 592,334,000 | 621,247,000 | 669,721,000 | 707,078,000 | 710,573,000 | 679,741,000 | 739,098,000 | 593,173,000 | 447,566,000 |
| Gross Profit | 43,591,000 | 39,652,000 | 30,423,000 | 36,659,000 | 31,810,000 | 35,184,000 | 33,683,000 | 40,678,000 | 42,146,000 | 32,998,000 | 30,079,000 | 34,426,000 | 32,951,000 | 27,876,000 |
| Admin Expenses | 38,609,000 | 34,737,000 | 28,426,000 | 34,896,000 | 33,536,000 | 34,406,000 | 36,372,000 | 38,748,000 | 38,770,000 | 36,055,000 | 28,811,000 | 31,610,000 | 29,214,000 | 26,303,000 |
| Operating Profit | 4,982,000 | 4,915,000 | 1,997,000 | 1,763,000 | -1,726,000 | 778,000 | -2,689,000 | 1,930,000 | 3,376,000 | -3,057,000 | 1,268,000 | 2,816,000 | 3,737,000 | 1,573,000 |
| Interest Payable | 2,109,000 | 1,314,000 | 961,000 | 1,060,000 | 1,255,000 | 1,050,000 | 1,002,000 | 1,093,000 | 1,493,000 | 1,553,000 | 1,819,000 | 713,000 | 1,073,000 | 470,000 |
| Interest Receivable | 273,000 | 121,000 | 89,000 | 161,000 | 214,000 | 148,000 | 174,000 | 164,000 | 104,000 | 152,000 | 143,000 | 175,000 | 204,000 | 118,000 |
| Pre-Tax Profit | 3,146,000 | 3,722,000 | 1,125,000 | 864,000 | -2,767,000 | -84,000 | -3,491,000 | 1,001,000 | 1,999,000 | -4,458,000 | -408,000 | 2,278,000 | 2,868,000 | 1,221,000 |
| Tax | -512,000 | -24,000 | 74,000 | 93,000 | -5,000 | 0 | 8,000 | -31,000 | -118,000 | -62,000 | 40,000 | -452,000 | -1,039,000 | -38,000 |
| Profit After Tax | 2,634,000 | 3,698,000 | 1,199,000 | 957,000 | -2,772,000 | -84,000 | -3,483,000 | 970,000 | 1,881,000 | -4,520,000 | -368,000 | 1,826,000 | 1,829,000 | 1,183,000 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Profit | 2,634,000 | 3,698,000 | 1,199,000 | 957,000 | -2,772,000 | -84,000 | -3,483,000 | 970,000 | 1,881,000 | -4,520,000 | -368,000 | 1,826,000 | 1,829,000 | 1,183,000 |
| Employee Costs | 13,663,000 | 12,423,000 | 9,720,000 | 11,315,000 | 10,775,000 | 10,762,000 | 11,770,000 | 12,225,000 | 12,750,000 | 10,818,000 | 11,180,000 | 11,830,000 | 11,363,000 | 10,457,000 |
| Number Of Employees | 219 | 200 | 197 | 203 | 204 | 219 | 245 | 254 | 262 | 219 | 235 | 234 | 233 | 226 |
| EBITDA* | 5,612,000 | 5,550,000 | 2,828,000 | 2,612,000 | -830,000 | 1,816,000 | -1,662,000 | 3,027,000 | 4,661,000 | -1,868,000 | 2,323,000 | 3,772,000 | 4,632,000 | 2,249,000 |
* 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 | 3,722,000 | 1,965,000 | 2,400,000 | 2,896,000 | 3,012,000 | 3,235,000 | 3,813,000 | 4,110,000 | 3,716,000 | 7,996,000 | 8,293,000 | 7,606,000 | 5,888,000 | 4,370,000 |
| Intangible Assets | 2,275,000 | 2,707,000 | 2,789,000 | 3,183,000 | 3,370,000 | 4,726,000 | 4,740,000 | 4,787,000 | 4,414,000 | -233,000 | -243,000 | -248,000 | -249,000 | -234,000 |
| Investments & Other | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 30,000 | 38,000 | 38,000 | 32,000 | 32,000 | 32,000 | 76,000 | 102,000 | 96,000 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 450,000 | 525,000 | 600,000 | 100,000 | 198,000 |
| Total Fixed Assets | 6,004,000 | 4,679,000 | 5,196,000 | 6,086,000 | 6,389,000 | 7,991,000 | 8,591,000 | 8,935,000 | 8,162,000 | 8,245,000 | 8,607,000 | 8,034,000 | 5,841,000 | 4,430,000 |
| Stock & work in progress | 16,860,000 | 12,537,000 | 11,005,000 | 19,850,000 | 19,455,000 | 23,096,000 | 15,933,000 | 13,764,000 | 13,096,000 | 20,977,000 | 19,841,000 | 15,163,000 | 10,070,000 | 7,875,000 |
| Trade Debtors | 63,350,000 | 68,715,000 | 52,853,000 | 46,804,000 | 56,951,000 | 46,609,000 | 56,621,000 | 46,090,000 | 50,799,000 | 51,087,000 | 47,024,000 | 40,965,000 | 44,444,000 | 29,386,000 |
| Group Debtors | 8,988,000 | 9,118,000 | 8,385,000 | 8,054,000 | 7,906,000 | 7,918,000 | 7,640,000 | 7,984,000 | 3,095,000 | 3,482,000 | 7,835,000 | 7,254,000 | 7,472,000 | 7,649,000 |
| Misc Debtors | 21,859,000 | 42,597,000 | 14,593,000 | 14,483,000 | 13,050,000 | 20,877,000 | 18,952,000 | 19,690,000 | 21,321,000 | 17,350,000 | 16,850,000 | 15,645,000 | 18,739,000 | 7,619,000 |
| Cash | 2,898,000 | 2,139,000 | 3,180,000 | 3,530,000 | 3,000 | 1,000 | 422,000 | 363,000 | 14,000 | 11,000 | 254,000 | 142,000 | 27,000 | 2,419,000 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 113,955,000 | 135,106,000 | 90,016,000 | 92,721,000 | 97,365,000 | 98,501,000 | 99,568,000 | 87,891,000 | 88,325,000 | 92,907,000 | 91,804,000 | 79,169,000 | 80,752,000 | 54,948,000 |
| total assets | 119,959,000 | 139,785,000 | 95,212,000 | 98,807,000 | 103,754,000 | 106,492,000 | 108,159,000 | 96,826,000 | 96,487,000 | 101,152,000 | 100,411,000 | 87,203,000 | 86,593,000 | 59,378,000 |
| Bank overdraft | 0 | 0 | 0 | 0 | 28,229,000 | 25,484,000 | 27,480,000 | 12,943,000 | 7,753,000 | 5,756,000 | 31,855,000 | 11,153,000 | 2,408,000 | 4,544,000 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 18,900,000 | 25,920,000 | 18,324,000 | 17,275,000 | 17,861,000 | 20,237,000 | 36,985,000 | 34,083,000 | 40,373,000 | 50,118,000 | 27,118,000 | 23,197,000 | 27,835,000 | 21,506,000 |
| Group/Directors Accounts | 639,000 | 639,000 | 688,000 | 639,000 | 639,000 | 639,000 | 639,000 | 639,000 | 639,000 | 639,000 | 3,125,000 | 6,515,000 | 7,009,000 | 4,475,000 |
| other short term finances | 6,170,000 | 23,387,000 | 21,863,000 | 1,991,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 370,000 | 58,000 | 65,000 | 63,000 | 7,000 | 7,000 | 6,000 | 50,000 | 100,000 | 100,000 | 104,000 | 125,000 | 56,000 | 55,000 |
| other current liabilities | 66,659,000 | 71,076,000 | 39,172,000 | 57,125,000 | 43,816,000 | 44,144,000 | 27,035,000 | 29,692,000 | 29,399,000 | 29,995,000 | 19,045,000 | 26,575,000 | 31,795,000 | 13,114,000 |
| total current liabilities | 92,738,000 | 121,080,000 | 80,112,000 | 77,093,000 | 90,552,000 | 90,511,000 | 92,145,000 | 77,407,000 | 78,264,000 | 86,608,000 | 81,247,000 | 67,565,000 | 69,103,000 | 43,694,000 |
| loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 1,300,000 | 85,000 | 145,000 | 210,000 | 14,000 | 21,000 | 28,000 | 0 | 51,000 | 151,000 | 251,000 | 357,000 | 35,000 | 58,000 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 5,099,000 | 0 | 0 | 7,450,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 6,399,000 | 85,000 | 145,000 | 7,660,000 | 14,000 | 21,000 | 28,000 | 0 | 51,000 | 151,000 | 251,000 | 357,000 | 35,000 | 58,000 |
| total liabilities | 99,137,000 | 121,165,000 | 80,257,000 | 84,753,000 | 90,566,000 | 90,532,000 | 92,173,000 | 77,407,000 | 78,315,000 | 86,759,000 | 81,498,000 | 67,922,000 | 69,138,000 | 43,752,000 |
| net assets | 20,822,000 | 18,620,000 | 14,955,000 | 14,054,000 | 13,188,000 | 15,960,000 | 15,986,000 | 19,419,000 | 18,172,000 | 14,393,000 | 18,913,000 | 19,281,000 | 17,455,000 | 15,626,000 |
| total shareholders funds | 20,822,000 | 18,620,000 | 14,955,000 | 14,054,000 | 13,188,000 | 15,960,000 | 15,986,000 | 19,419,000 | 18,172,000 | 14,393,000 | 18,913,000 | 19,281,000 | 17,455,000 | 15,626,000 |
| 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 | 4,982,000 | 4,915,000 | 1,997,000 | 1,763,000 | -1,726,000 | 778,000 | -2,689,000 | 1,930,000 | 3,376,000 | -3,057,000 | 1,268,000 | 2,816,000 | 3,737,000 | 1,573,000 |
| Depreciation | 630,000 | 586,000 | 735,000 | 753,000 | 800,000 | 941,000 | 930,000 | 1,001,000 | 1,237,000 | 1,199,000 | 1,060,000 | 955,000 | 880,000 | 661,000 |
| Amortisation | 0 | 49,000 | 96,000 | 96,000 | 96,000 | 97,000 | 97,000 | 96,000 | 48,000 | -10,000 | -5,000 | 1,000 | 15,000 | 15,000 |
| Tax | -512,000 | -24,000 | 74,000 | 93,000 | -5,000 | 0 | 8,000 | -31,000 | -118,000 | -62,000 | 40,000 | -452,000 | -1,039,000 | -38,000 |
| Stock | 4,323,000 | 1,532,000 | -8,845,000 | 395,000 | -3,641,000 | 7,163,000 | 2,169,000 | 668,000 | -7,881,000 | 1,136,000 | 4,678,000 | 5,093,000 | 2,195,000 | 7,875,000 |
| Debtors | -26,233,000 | 44,599,000 | 6,490,000 | -8,566,000 | 2,503,000 | -7,809,000 | 9,449,000 | -1,451,000 | 2,846,000 | 135,000 | 7,770,000 | -6,291,000 | 25,903,000 | 44,852,000 |
| Creditors | -7,020,000 | 7,596,000 | 1,049,000 | -586,000 | -2,376,000 | -16,748,000 | 2,902,000 | -6,290,000 | -9,745,000 | 23,000,000 | 3,921,000 | -4,638,000 | 6,329,000 | 21,506,000 |
| Accruals and Deferred Income | -4,417,000 | 31,904,000 | -17,953,000 | 13,309,000 | -328,000 | 17,109,000 | -2,657,000 | 293,000 | -596,000 | 10,950,000 | -7,530,000 | -5,220,000 | 18,681,000 | 13,114,000 |
| Deferred Taxes & Provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow from operations | 15,573,000 | -1,105,000 | -11,647,000 | 23,599,000 | -2,401,000 | 2,823,000 | -13,027,000 | -2,218,000 | -763,000 | 30,749,000 | -13,694,000 | -5,340,000 | 505,000 | -15,896,000 |
| Investing Activities | ||||||||||||||
| capital expenditure | ||||||||||||||
| Change in Investments | 0 | 0 | 0 | 0 | -23,000 | -8,000 | 0 | 6,000 | 0 | 0 | -44,000 | -26,000 | 6,000 | 96,000 |
| cash flow from investments | ||||||||||||||
| Financing Activities | ||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 0 | -49,000 | 49,000 | 0 | 0 | 0 | 0 | 0 | 0 | -2,486,000 | -3,390,000 | -494,000 | 2,534,000 | 4,475,000 |
| Other Short Term Loans | -17,217,000 | 1,524,000 | 19,872,000 | 1,991,000 | 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 | 1,527,000 | -67,000 | -63,000 | 252,000 | -7,000 | -6,000 | -16,000 | -101,000 | -100,000 | -104,000 | -127,000 | 391,000 | -22,000 | 113,000 |
| other long term liabilities | 5,099,000 | 0 | -7,450,000 | 7,450,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| share issue | ||||||||||||||
| interest | -1,836,000 | -1,193,000 | -872,000 | -899,000 | -1,041,000 | -902,000 | -828,000 | -929,000 | -1,389,000 | -1,401,000 | -1,676,000 | -538,000 | -869,000 | -352,000 |
| cash flow from financing | -12,859,000 | 182,000 | 11,238,000 | 8,703,000 | -1,048,000 | -850,000 | -794,000 | -753,000 | 409,000 | -3,991,000 | -5,193,000 | -641,000 | 1,643,000 | 18,679,000 |
| cash and cash equivalents | ||||||||||||||
| cash | 759,000 | -1,041,000 | -350,000 | 3,527,000 | 2,000 | -421,000 | 59,000 | 349,000 | 3,000 | -243,000 | 112,000 | 115,000 | -2,392,000 | 2,419,000 |
| overdraft | 0 | 0 | 0 | -28,229,000 | 2,745,000 | -1,996,000 | 14,537,000 | 5,190,000 | 1,997,000 | -26,099,000 | 20,702,000 | 8,745,000 | -2,136,000 | 4,544,000 |
| change in cash | 759,000 | -1,041,000 | -350,000 | 31,756,000 | -2,743,000 | 1,575,000 | -14,478,000 | -4,841,000 | -1,994,000 | 25,856,000 | -20,590,000 | -8,630,000 | -256,000 | -2,125,000 |
openfield agriculture limited Credit Report and Business Information
Openfield Agriculture Limited Competitor Analysis
Perform a competitor analysis for openfield agriculture limited by selecting its closest rivals, whether from the AGRICULTURE, FORESTRY AND FISHING sector, other mega companies, companies in NG33 area or any other competitors across 12 key performance metrics.
openfield agriculture limited Ownership
OPENFIELD AGRICULTURE LIMITED group structure
Openfield Agriculture Limited has 3 subsidiary companies.
Ultimate parent company
1 parent
OPENFIELD AGRICULTURE LIMITED
03548572
3 subsidiaries
openfield agriculture limited directors
Openfield Agriculture Limited currently has 4 directors. The longest serving directors include Mr Mark Worrell (Jan 2013) and Mr Richard Jenner (Feb 2013).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Mark Worrell | England | 59 years | Jan 2013 | - | Director |
| Mr Richard Jenner | United Kingdom | 56 years | Feb 2013 | - | Director |
| Mr James Dallas | United Kingdom | 58 years | Apr 2013 | - | Director |
| Mr David Anderson | England | 55 years | May 2017 | - | Director |
P&L
June 2023turnover
806.3m
+20%
operating profit
5m
+1%
gross margin
5.5%
-8.69%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
June 2023net assets
20.8m
+0.12%
total assets
120m
-0.14%
cash
2.9m
+0.35%
net assets
Total assets minus all liabilities
openfield agriculture limited company details
company number
03548572
Type
Private limited with Share Capital
industry
01630 - Post-harvest crop activities
incorporation date
April 1998
age
26
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
June 2023
previous names
openfield agriculture plc (November 2008)
grainfarmers plc (November 2008)
See moreaccountant
-
auditor
BDO LLP
address
honey pot lane, colsterworth, grantham, lincolnshire, NG33 5LY
Bank
LLOYDS TSB BANK PLC
Legal Advisor
BURGES SALMON LLP
openfield agriculture 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 21 charges/mortgages relating to openfield agriculture limited. Currently there are 4 open charges and 17 have been satisfied in the past.
openfield agriculture limited Companies House Filings - See Documents
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