iet conventions limited
iet conventions limited Company Information
Company Number
03566585
Next Accounts
Sep 2025
Shareholders
institution of engineering & technology
Group Structure
View All
Industry
Activities of conference organizers
+2Registered Address
iet legal department, savoy place, london, WC2R 0BL
Website
https://www.theiet.orgiet conventions limited Estimated Valuation
Pomanda estimates the enterprise value of IET CONVENTIONS LIMITED at £1.9m based on a Turnover of £2.9m and 0.64x industry multiple (adjusted for size and gross margin).
iet conventions limited Estimated Valuation
Pomanda estimates the enterprise value of IET CONVENTIONS LIMITED at £10.4m based on an EBITDA of £2.9m and a 3.52x industry multiple (adjusted for size and gross margin).
iet conventions limited Estimated Valuation
Pomanda estimates the enterprise value of IET CONVENTIONS LIMITED at £234.6k based on Net Assets of £115.9k and 2.02x industry multiple (adjusted for liquidity).
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Iet Conventions Limited Overview
Iet Conventions Limited is a live company located in london, WC2R 0BL with a Companies House number of 03566585. It operates in the activities of exhibition and fair organisers sector, SIC Code 82301. Founded in May 1998, it's largest shareholder is institution of engineering & technology with a 100% stake. Iet Conventions Limited is a mature, small sized company, Pomanda has estimated its turnover at £2.9m with rapid growth in recent years.
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Iet Conventions Limited Health Check
Pomanda's financial health check has awarded Iet Conventions Limited a 3.5 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 2 areas for improvement. Company Health Check FAQs
4 Strong
2 Regular
2 Weak
Size
annual sales of £2.9m, make it larger than the average company (£1.4m)
£2.9m - Iet Conventions Limited
£1.4m - Industry AVG
Growth
3 year (CAGR) sales growth of 607%, show it is growing at a faster rate (8.7%)
607% - Iet Conventions Limited
8.7% - Industry AVG
Production
with a gross margin of 56.5%, this company has a comparable cost of product (56.5%)
56.5% - Iet Conventions Limited
56.5% - Industry AVG
Profitability
an operating margin of 99.9% make it more profitable than the average company (6.9%)
99.9% - Iet Conventions Limited
6.9% - Industry AVG
Employees
with 21 employees, this is above the industry average (9)
- Iet Conventions Limited
9 - Industry AVG
Pay Structure
There is insufficient data available for this Key Performance Indicator!
- Iet Conventions Limited
- - Industry AVG
Efficiency
resulting in sales per employee of £140.5k, this is equally as efficient (£154.6k)
- Iet Conventions Limited
£154.6k - Industry AVG
Debtor Days
There is insufficient data available for this Key Performance Indicator!
- - Iet Conventions Limited
- - Industry AVG
Creditor Days
There is insufficient data available for this Key Performance Indicator!
- - Iet Conventions Limited
- - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Iet Conventions Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 0 weeks, this is less cash available to meet short term requirements (50 weeks)
0 weeks - Iet Conventions Limited
50 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 92.6%, this is a higher level of debt than the average (51.5%)
92.6% - Iet Conventions Limited
51.5% - Industry AVG
IET CONVENTIONS LIMITED financials
Iet Conventions Limited's latest turnover from December 2023 is £2.9 million and the company has net assets of £115.9 thousand. According to their latest financial statements, we estimate that Iet Conventions Limited has 21 employees and maintains cash reserves of £15.6 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 | 2,949,671 | 2,482,974 | 1,417 | 8,363 | 2,978,403 | 2,847,832 | 2,611,473 | 2,459,810 | 1,880,904 | 2,310,723 | 6,205,819 | 5,832,203 | 5,564,642 | 5,212,758 | 4,557,024 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | ||||||||||
| Cost Of Sales | 2,529,826 | 2,449,570 | 2,362,630 | 2,263,672 | 2,049,674 | ||||||||||
| Gross Profit | 3,675,993 | 3,382,633 | 3,202,012 | 2,949,086 | 2,507,350 | ||||||||||
| Admin Expenses | 1,428,011 | 1,356,870 | 1,171,551 | 1,079,190 | 903,298 | ||||||||||
| Operating Profit | 2,945,506 | 2,477,333 | -3,395 | 3,796 | 2,975,079 | 2,844,463 | 2,608,290 | 2,456,716 | 1,873,829 | 2,302,071 | 2,247,982 | 2,025,763 | 2,030,461 | 1,869,896 | 1,604,052 |
| Interest Payable | 93 | 75 | 61 | 76 | 58 | 105 | 42 | 16 | 42 | 43 | 43 | 141 | 6 | 0 | 0 |
| Interest Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,585 | 10,350 | 37,543 | 23,779 | 26,594 |
| Pre-Tax Profit | 2,945,413 | 2,477,258 | -3,456 | 3,720 | 2,975,021 | 2,844,358 | 2,608,248 | 2,456,700 | 1,873,787 | 2,302,028 | 2,249,524 | -2,196 | 9,950 | 2,000 | 1,630,646 |
| Tax | -3,938 | -1,656 | -276 | 9,763 | -6,456 | -7,464 | -13,105 | -12,990 | -1,363 | -11,377 | -14,166 | 2,196 | -9,950 | -2,000 | -2,225 |
| Profit After Tax | 2,941,475 | 2,475,602 | -3,732 | 13,483 | 2,968,565 | 2,836,894 | 2,595,143 | 2,443,710 | 1,872,424 | 2,290,651 | 2,235,358 | 0 | 0 | 0 | 1,628,421 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Profit | 2,941,475 | 2,475,602 | -3,732 | 13,483 | 2,968,565 | 2,836,894 | 2,595,143 | 0 | 1,872,424 | 2,290,651 | 2,235,358 | 0 | 0 | 0 | 0 |
| Employee Costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Number Of Employees | |||||||||||||||
| EBITDA* | 2,945,506 | 2,477,333 | -3,395 | 3,796 | 2,975,079 | 2,844,463 | 2,608,290 | 2,456,716 | 1,873,829 | 2,302,071 | 2,276,715 | 2,046,123 | 2,046,417 | 1,887,052 | 1,621,368 |
* 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 119,832 | 143,400 | 15,041 | 24,397 | 38,322 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments & Other | 102,340 | 102,340 | 102,340 | 102,340 | 102,340 | 102,340 | 102,340 | 102,340 | 102,340 | 102,340 | 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 | 102,340 | 102,340 | 102,340 | 102,340 | 102,340 | 102,340 | 102,340 | 102,340 | 102,340 | 102,340 | 119,832 | 143,400 | 15,041 | 24,397 | 38,322 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 0 | 0 | 0 | 0 | 0 | 0 | 830,329 | 0 | 0 | 0 | 596,021 | 481,572 | 704,460 | 539,505 | 471,081 |
| Group Debtors | 1,444,092 | 1,258,150 | 21,398 | 14,308 | 1,016,932 | 988,490 | 0 | 781,798 | 690,606 | 917,388 | 0 | 0 | 0 | 0 | 0 |
| Misc Debtors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 65,098 | 103,848 | 56,602 | 45,916 | 100,399 |
| Cash | 15,628 | 5,855 | 5,427 | 13,925 | 8,220 | 579 | 3,627 | 545 | 8,737 | 407 | 1,913,765 | 1,697,925 | 1,759,992 | 1,848,382 | 1,652,232 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 1,459,720 | 1,264,005 | 26,825 | 28,233 | 1,025,152 | 989,069 | 833,956 | 782,343 | 699,343 | 917,795 | 2,574,884 | 2,283,345 | 2,521,054 | 2,433,803 | 2,223,712 |
| total assets | 1,562,060 | 1,366,345 | 129,165 | 130,573 | 1,127,492 | 1,091,409 | 936,296 | 884,683 | 801,683 | 1,020,135 | 2,694,716 | 2,426,745 | 2,536,095 | 2,458,200 | 2,262,034 |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 2,513 | 0 | 0 | 0 | 108,606 | 199,854 | 335,727 | 387,963 | 338,973 |
| Group/Directors Accounts | 1,434,855 | 1,230,434 | 0 | 0 | 983,752 | 954,754 | 791,635 | 743,736 | 671,034 | 866,462 | 797,208 | 718,198 | 740,637 | 761,671 | 648,268 |
| 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 | 11,295 | 20,001 | 16,987 | 14,663 | 27,830 | 20,745 | 26,238 | 25,037 | 14,739 | 22,647 | 1,672,992 | 1,392,941 | 1,343,979 | 1,192,814 | 1,159,041 |
| total current liabilities | 1,446,150 | 1,250,435 | 16,987 | 14,663 | 1,011,582 | 975,499 | 820,386 | 768,773 | 685,773 | 889,109 | 2,578,806 | 2,310,993 | 2,420,343 | 2,342,448 | 2,146,282 |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total liabilities | 1,446,150 | 1,250,435 | 16,987 | 14,663 | 1,011,582 | 975,499 | 820,386 | 768,773 | 685,773 | 889,109 | 2,578,806 | 2,310,993 | 2,420,343 | 2,342,448 | 2,146,282 |
| net assets | 115,910 | 115,910 | 112,178 | 115,910 | 115,910 | 115,910 | 115,910 | 115,910 | 115,910 | 131,026 | 115,910 | 115,752 | 115,752 | 115,752 | 115,752 |
| total shareholders funds | 115,910 | 115,910 | 112,178 | 115,910 | 115,910 | 115,910 | 115,910 | 115,910 | 115,910 | 131,026 | 115,910 | 115,752 | 115,752 | 115,752 | 115,752 |
| 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 | 2,945,506 | 2,477,333 | -3,395 | 3,796 | 2,975,079 | 2,844,463 | 2,608,290 | 2,456,716 | 1,873,829 | 2,302,071 | 2,247,982 | 2,025,763 | 2,030,461 | 1,869,896 | 1,604,052 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28,733 | 20,360 | 15,956 | 17,156 | 17,316 |
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tax | -3,938 | -1,656 | -276 | 9,763 | -6,456 | -7,464 | -13,105 | -12,990 | -1,363 | -11,377 | -14,166 | 2,196 | -9,950 | -2,000 | -2,225 |
| Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors | 185,942 | 1,236,752 | 7,090 | -1,002,624 | 28,442 | 158,161 | 48,531 | 91,192 | -226,782 | 256,269 | 75,699 | -175,642 | 175,641 | 13,941 | 571,480 |
| Creditors | 0 | 0 | 0 | 0 | 0 | -2,513 | 2,513 | 0 | 0 | -108,606 | -91,248 | -135,873 | -52,236 | 48,990 | 338,973 |
| Accruals and Deferred Income | -8,706 | 3,014 | 2,324 | -13,167 | 7,085 | -5,493 | 1,201 | 10,298 | -7,908 | -1,650,345 | 280,051 | 48,962 | 151,165 | 33,773 | 1,159,041 |
| Deferred Taxes & Provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow from operations | 2,746,920 | 1,241,939 | -8,437 | 1,003,016 | 2,947,266 | 2,670,832 | 2,550,368 | 2,362,832 | 2,091,340 | 275,474 | 2,375,653 | 2,137,050 | 1,959,755 | 1,953,874 | 2,545,677 |
| Investing Activities | |||||||||||||||
| capital expenditure | |||||||||||||||
| Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 102,340 | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | |||||||||||||||
| Financing Activities | |||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 204,421 | 1,230,434 | 0 | -983,752 | 28,998 | 163,119 | 47,899 | 72,702 | -195,428 | 69,254 | 79,010 | -22,439 | -21,034 | 113,403 | 648,268 |
| 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 | -93 | -75 | -61 | -76 | -58 | -105 | -42 | -16 | -42 | -43 | 1,542 | 10,209 | 37,537 | 23,779 | 26,594 |
| cash flow from financing | -2,737,147 | -1,241,511 | -61 | -997,311 | -2,939,625 | -2,673,880 | -2,547,286 | 72,686 | -2,083,010 | -2,206,324 | -2,154,648 | -12,230 | 16,503 | 137,182 | 790,614 |
| cash and cash equivalents | |||||||||||||||
| cash | 9,773 | 428 | -8,498 | 5,705 | 7,641 | -3,048 | 3,082 | -8,192 | 8,330 | -1,913,358 | 215,840 | -62,067 | -88,390 | 196,150 | 1,652,232 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | 9,773 | 428 | -8,498 | 5,705 | 7,641 | -3,048 | 3,082 | -8,192 | 8,330 | -1,913,358 | 215,840 | -62,067 | -88,390 | 196,150 | 1,652,232 |
iet conventions limited Credit Report and Business Information
Iet Conventions Limited Competitor Analysis
Perform a competitor analysis for iet conventions limited by selecting its closest rivals, whether from the ADMINISTRATIVE AND SUPPORT SERVICE ACTIVITIES sector, other small companies, companies in WC2R area or any other competitors across 12 key performance metrics.
iet conventions limited Ownership
IET CONVENTIONS LIMITED group structure
Iet Conventions Limited has no subsidiary companies.
Ultimate parent company
1 parent
IET CONVENTIONS LIMITED
03566585
iet conventions limited directors
Iet Conventions Limited currently has 5 directors. The longest serving directors include Mr Alan Watts (Feb 2022) and Dr Simon Hart (Oct 2023).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Alan Watts | England | 68 years | Feb 2022 | - | Director |
| Dr Simon Hart | England | 49 years | Oct 2023 | - | Director |
| Ms Yewande Akinola | United Kingdom | 40 years | Oct 2023 | - | Director |
| Mr Simon White | United Kingdom | 55 years | Oct 2023 | - | Director |
| Mrs Toni Allen | 47 years | Mar 2024 | - | Director |
P&L
December 2023turnover
2.9m
+19%
operating profit
2.9m
+19%
gross margin
56.6%
-0.05%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
115.9k
0%
total assets
1.6m
+0.14%
cash
15.6k
+1.67%
net assets
Total assets minus all liabilities
iet conventions limited company details
company number
03566585
Type
Private limited with Share Capital
industry
94120 - Activities of professional membership organisations
82302 - Activities of conference organizers
82301 - Activities of exhibition and fair organizers
incorporation date
May 1998
age
27
incorporated
UK
ultimate parent company
accounts
Small Company
last accounts submitted
December 2023
previous names
iee conventions limited (November 2023)
restapply limited (August 1998)
accountant
-
auditor
BDO LLP
address
iet legal department, savoy place, london, WC2R 0BL
Bank
BARCLAYS BANK PLC, BARCLAYS BANK PLC
Legal Advisor
-
iet conventions 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 did not find charges/mortgages relating to iet conventions limited.
iet conventions 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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iet conventions limited Companies House Filings - See Documents
| date | description | view/download |
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