vehicle lease and service limited

vehicle lease and service limited Company Information

Share VEHICLE LEASE AND SERVICE LIMITED
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Company Number

03612397

Industry

Renting and leasing of cars and light motor vehicles

 

Shareholders

northern electric plc

northern water group commercial solutions limited

Group Structure

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Contact

Registered Address

centre for advanced industry, 3rd floor, royal quays, north tyneside, NE29 6DE

vehicle lease and service limited Estimated Valuation

£24.6m

Pomanda estimates the enterprise value of VEHICLE LEASE AND SERVICE LIMITED at £24.6m based on a Turnover of £19.4m and 1.27x industry multiple (adjusted for size and gross margin).

vehicle lease and service limited Estimated Valuation

£35.6m

Pomanda estimates the enterprise value of VEHICLE LEASE AND SERVICE LIMITED at £35.6m based on an EBITDA of £8.2m and a 4.34x industry multiple (adjusted for size and gross margin).

vehicle lease and service limited Estimated Valuation

£17.8m

Pomanda estimates the enterprise value of VEHICLE LEASE AND SERVICE LIMITED at £17.8m based on Net Assets of £7.2m and 2.47x industry multiple (adjusted for liquidity).

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Vehicle Lease And Service Limited Overview

Vehicle Lease And Service Limited is a live company located in royal quays, NE29 6DE with a Companies House number of 03612397. It operates in the renting and leasing of cars and light motor vehicles sector, SIC Code 77110. Founded in August 1998, it's largest shareholder is northern electric plc with a 50% stake. Vehicle Lease And Service Limited is a mature, mid sized company, Pomanda has estimated its turnover at £19.4m with healthy growth in recent years.

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Vehicle Lease And Service Limited Health Check

Pomanda's financial health check has awarded Vehicle Lease And Service Limited a 4.5 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

Health Check Image
Health Rating4.5out of 5
positive_score

4 Strong

positive_score

5 Regular

positive_score

2 Weak

size

Size

annual sales of £19.4m, make it in line with the average company (£16.4m)

£19.4m - Vehicle Lease And Service Limited

£16.4m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of 8%, show it is growing at a similar rate (8.3%)

8% - Vehicle Lease And Service Limited

8.3% - Industry AVG

production

Production

with a gross margin of 37.6%, this company has a comparable cost of product (31.6%)

37.6% - Vehicle Lease And Service Limited

31.6% - Industry AVG

profitability

Profitability

an operating margin of 19.8% make it more profitable than the average company (11.7%)

19.8% - Vehicle Lease And Service Limited

11.7% - Industry AVG

employees

Employees

with 77 employees, this is above the industry average (44)

77 - Vehicle Lease And Service Limited

44 - Industry AVG

paystructure

Pay Structure

on an average salary of £51.2k, the company has a higher pay structure (£42.1k)

£51.2k - Vehicle Lease And Service Limited

£42.1k - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £251.6k, this is less efficient (£311.1k)

£251.6k - Vehicle Lease And Service Limited

£311.1k - Industry AVG

debtordays

Debtor Days

it gets paid by customers after 8 days, this is earlier than average (33 days)

8 days - Vehicle Lease And Service Limited

33 days - Industry AVG

creditordays

Creditor Days

its suppliers are paid after 22 days, this is close to average (23 days)

22 days - Vehicle Lease And Service Limited

23 days - Industry AVG

stockdays

Stock Days

There is insufficient data available for this Key Performance Indicator!

- - Vehicle Lease And Service Limited

- - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 5 weeks, this is more cash available to meet short term requirements (3 weeks)

5 weeks - Vehicle Lease And Service Limited

3 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 81%, this is a similar level of debt than the average (79.3%)

81% - Vehicle Lease And Service Limited

79.3% - Industry AVG

VEHICLE LEASE AND SERVICE LIMITED financials

EXPORTms excel logo

Vehicle Lease And Service Limited's latest turnover from December 2023 is £19.4 million and the company has net assets of £7.2 million. According to their latest financial statements, Vehicle Lease And Service Limited has 77 employees and maintains cash reserves of £1.4 million as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Turnover19,374,63817,346,00615,995,49015,372,99315,472,12715,484,82014,715,71615,007,41414,249,71614,034,76914,479,95214,144,68013,670,64813,323,01713,686,160
Other Income Or Grants000000000000000
Cost Of Sales12,098,61211,422,94410,675,39110,004,37710,122,84310,031,57710,863,40310,929,86310,390,57910,035,18510,095,1859,905,4729,405,4619,035,0370
Gross Profit7,276,0265,923,0625,320,0995,368,6165,349,2845,453,2433,852,3134,077,5513,859,1373,999,5844,384,7674,239,2084,265,1874,287,9800
Admin Expenses3,434,2953,265,0352,747,9272,748,7002,887,7523,140,0411,611,7312,008,0671,735,8322,188,9642,519,83816,454,44716,037,1762,330,562-1,805,290
Operating Profit3,841,7312,658,0272,572,1722,619,9162,461,5322,313,2022,240,5822,069,4842,123,3051,810,6201,864,929-12,215,239-11,771,9891,957,4181,805,290
Interest Payable931,505839,039692,203673,573670,742606,534610,743662,481682,7015,729762,645862,407936,679958,7911,036,825
Interest Receivable0271,7925,14110,6141,6187084,7306,520733,7194,4977,6856,1956,39614,494
Pre-Tax Profit2,910,2261,819,0151,881,7611,951,4841,801,4041,708,2861,630,5471,411,7331,447,1241,082,6301,106,7811,074,719968,1751,005,023782,959
Tax-743,233-588,4894,519-271,712-278,407-316,685-248,198-394,215-465,651-243,800-292,604-265,151-267,093-257,064-217,809
Profit After Tax2,166,9931,230,5261,886,2801,679,7721,522,9971,391,6011,382,3491,017,518981,473838,830814,177809,568701,082747,959565,150
Dividends Paid1,230,5261,853,49801,522,9971,391,6011,382,3491,017,518981,4731,025,826814,177809,568701,082747,959565,150595,148
Retained Profit936,467-622,9721,886,280156,775131,3969,252364,83136,045-44,35324,6534,609108,486-46,877182,809-29,998
Employee Costs3,944,7693,695,5563,581,7403,548,3703,632,9613,671,7063,322,3433,217,5703,033,1822,972,4582,817,0772,722,1042,590,9302,445,3432,598,187
Number Of Employees777678787978767674717170696973
EBITDA*8,193,1705,581,5225,405,7825,208,4034,926,9005,312,6295,075,4565,263,6345,089,4624,860,5306,499,939-7,911,603-7,663,7575,966,7685,586,209

* Earnings Before Interest, Tax, Depreciation and Amortisation

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Tangible Assets10,948,0459,889,73211,197,67112,435,6868,598,0157,981,7489,472,5488,709,5209,643,4099,519,78417,645,61018,235,51317,005,19716,484,84916,171,163
Intangible Assets112,036151,893147,716185,480222,248237,574163,878163,688162,072114,26600000
Investments & Other200200200200200200200200200200200200200200200
Debtors (Due After 1 year)16,678,04417,028,74816,707,76016,362,70816,445,22316,691,27215,117,38812,206,18211,527,13512,052,3467,402,2666,754,3186,447,1446,062,3806,689,598
Total Fixed Assets27,738,32527,070,57328,053,34728,984,07425,265,68624,910,79424,754,01421,079,59021,332,81621,686,59625,048,07624,990,03123,452,54122,547,42922,860,961
Stock & work in progress000000000000000
Trade Debtors468,376478,696739,401463,806116,590256,07950,44247,314358,297176,211200,665189,682210,802228,400243,556
Group Debtors1,052,091325,868150,274397,293604,391640,3511,347,3593,718,4443,040,6993,718,8831,221,5791,891,3915,345,6843,265,7332,045,756
Misc Debtors7,263,3457,209,9837,058,0705,964,3166,573,6115,707,0735,706,3655,266,0595,149,0325,000,9033,052,2973,090,0113,222,4742,964,0482,809,854
Cash1,416,4991,899,8442,252,6892,087,1553,662,0012,228,7521,019,4201,266,0423,183,2471,706,3973,133,5182,713,324928,293505,3641,545,762
misc current assets00001,000,0000000000000
total current assets10,200,3119,914,39110,200,4348,912,57011,956,5938,832,2558,123,58610,297,85911,731,27510,602,3947,608,0597,884,4089,707,2536,963,5456,644,928
total assets37,938,63636,984,96438,253,78137,896,64437,222,27933,743,04932,877,60031,377,44933,064,09132,288,99032,656,13532,874,43933,159,79429,510,97429,505,889
Bank overdraft000000000000000
Bank loan8,395,0108,548,8478,626,2618,899,7308,268,9127,342,3076,814,1396,701,5047,172,0366,808,2256,813,1387,154,0796,621,7446,202,5455,815,726
Trade Creditors 740,580517,8552,220,810785,8991,883,858391,113549,413206,465623,177642,492109,594466,91988,345176,480248,499
Group/Directors Accounts3,042,9151,819,0141,902,6732,233,1762,061,5561,940,8751,947,5061,211,9001,740,1461,407,2931,266,5601,246,2101,126,8441,115,9561,162,810
other short term finances000000000000000
hp & lease commitments000000000000000
other current liabilities766,7311,771,8221,949,0251,408,200992,7441,941,3802,332,4253,208,9843,094,0432,090,9361,728,3571,541,1542,385,8671,335,4752,066,770
total current liabilities12,945,23612,657,53814,698,76913,327,00513,207,07011,615,67511,643,48311,328,85312,629,40210,948,9469,917,64910,408,36210,222,8008,830,4569,293,805
loans15,402,54715,873,95914,374,57416,410,08216,003,37714,319,55513,424,00512,570,35312,743,61113,101,35314,144,92114,037,46614,640,31012,284,64712,154,089
hp & lease commitments001,582,737000000000000
Accruals and Deferred Income1,775,3321,527,93801,305,5811,255,5911,123,9341,077,2551,012,6191,155,5621,565,45300000
other liabilities000000000000000
provisions00000000001,911,6151,751,2701,727,8291,780,1391,625,072
total long term liabilities17,783,00118,053,49416,658,10818,475,50018,077,84516,321,40615,437,40114,616,71115,038,84915,899,85116,056,53615,788,73616,368,13914,064,78613,779,161
total liabilities30,728,23730,711,03231,356,87731,802,50531,284,91527,937,08127,080,88425,945,56427,668,25126,848,79725,974,18526,197,09826,590,93922,895,24223,072,966
net assets7,210,3996,273,9326,896,9046,094,1395,937,3645,805,9685,796,7165,431,8855,395,8405,440,1936,681,9506,677,3416,568,8556,615,7326,432,923
total shareholders funds7,210,3996,273,9326,896,9046,094,1395,937,3645,805,9685,796,7165,431,8855,395,8405,440,1936,681,9506,677,3416,568,8556,615,7326,432,923
Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Operating Activities
Operating Profit3,841,7312,658,0272,572,1722,619,9162,461,5322,313,2022,240,5822,069,4842,123,3051,810,6201,864,929-12,215,239-11,771,9891,957,4181,805,290
Depreciation4,311,5822,903,2662,795,8462,550,7232,427,7052,963,9982,834,8743,194,1502,966,1573,049,9104,635,0104,303,6364,108,2324,009,3503,780,919
Amortisation39,85720,22937,76437,76437,66335,429000000000
Tax-743,233-588,4894,519-271,712-278,407-316,685-248,198-394,215-465,651-243,800-292,604-265,151-267,093-257,064-217,809
Stock000000000000000
Debtors418,561387,7901,467,382-551,692445,0401,073,221983,5551,162,836-873,1809,071,536-48,595-3,300,7022,705,543731,79711,788,764
Creditors222,725-1,702,9551,434,911-1,097,9591,492,745-158,300342,948-416,712-19,315532,898-357,325378,574-88,135-72,019248,499
Accruals and Deferred Income-757,6971,350,735-764,756465,446-816,979-344,366-811,923-28,002593,2161,928,032187,203-844,7131,050,392-731,2952,066,770
Deferred Taxes & Provisions000000000-1,911,615160,34523,441-52,310155,0671,625,072
Cash flow from operations6,496,4044,253,0234,613,0744,855,8704,879,2193,420,0573,374,7283,261,8696,070,892-3,905,4916,246,153-5,318,750-9,726,4464,329,660-2,480,023
Investing Activities
capital expenditure00000-6,236,465-12,305,035-8,123,302-18,872,151-4,229,799-7,316,807-8,537,884-7,864,040-6,341,857-8,326,727
Change in Investments00000000000000200
cash flow from investments00000-6,236,465-12,305,035-8,123,302-18,872,151-4,229,799-7,316,807-8,537,884-7,864,040-6,341,857-8,326,927
Financing Activities
Bank loans-153,837-77,414-273,469630,818926,605528,168112,635-470,532363,811-4,913-340,941532,335419,199386,8195,815,726
Group/Directors Accounts1,223,901-83,659-330,503171,620120,681-6,631735,606-528,246332,853140,73320,350119,36610,888-46,8541,162,810
Other Short Term Loans 000000000000000
Long term loans-471,4121,499,385-2,035,508406,7051,683,822895,550853,652-173,258-357,742-1,043,568107,455-602,8442,355,663130,55812,154,089
Hire Purchase and Lease Commitments0-1,582,7371,582,737000000000000
other long term liabilities000000000000000
share issue00-1,083,515000000-1,266,41000006,462,921
interest-931,505-839,012-690,411-668,432-660,128-604,916-610,035-657,751-676,181727,990-758,148-854,722-930,484-952,395-1,022,331
cash flow from financing-332,853-1,083,437-2,830,669540,7112,070,980812,1711,091,858-1,829,787-337,259-1,446,168-971,284-805,8651,855,266-481,87224,573,215
cash and cash equivalents
cash-483,345-352,845165,534-1,574,8461,433,2491,209,332-246,622-1,917,2051,476,850-1,427,121420,1941,785,031422,929-1,040,3981,545,762
overdraft000000000000000
change in cash-483,345-352,845165,534-1,574,8461,433,2491,209,332-246,622-1,917,2051,476,850-1,427,121420,1941,785,031422,929-1,040,3981,545,762

vehicle lease and service limited Credit Report and Business Information

Very Low Risk70 - 100
Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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Vehicle Lease And Service Limited Competitor Analysis

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Perform a competitor analysis for vehicle lease and service limited by selecting its closest rivals, whether from the ADMINISTRATIVE AND SUPPORT SERVICE ACTIVITIES sector, other mid companies, companies in NE29 area or any other competitors across 12 key performance metrics.

vehicle lease and service limited Ownership

VEHICLE LEASE AND SERVICE LIMITED group structure

Vehicle Lease And Service Limited has 1 subsidiary company.

Ultimate parent company

VEHICLE LEASE AND SERVICE LIMITED

03612397

1 subsidiary

VEHICLE LEASE AND SERVICE LIMITED Shareholders

northern electric plc 50%
northern water group commercial solutions limited 50%

vehicle lease and service limited directors

Vehicle Lease And Service Limited currently has 7 directors. The longest serving directors include Mr Neil Rutherford (Feb 2001) and Mr Richard Murray (Jan 2004).

officercountryagestartendrole
Mr Neil Rutherford55 years Feb 2001- Director
Mr Richard MurrayEngland57 years Jan 2004- Director
Mr Gareth Pearson57 years Oct 2008- Director
Mr Daniel Keating56 years Mar 2009- Director
Mr Stephen LockwoodEngland59 years Oct 2009- Director
Mr Stewart HazonUnited Kingdom53 years Mar 2010- Director
Mrs Louise BennettUnited Kingdom38 years Mar 2016- Director

P&L

December 2023

turnover

19.4m

+12%

operating profit

3.8m

+45%

gross margin

37.6%

+9.98%

turnover

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

Balance Sheet

December 2023

net assets

7.2m

+0.15%

total assets

37.9m

+0.03%

cash

1.4m

-0.25%

net assets

Total assets minus all liabilities

vehicle lease and service limited company details

company number

03612397

Type

Private limited with Share Capital

industry

77110 - Renting and leasing of cars and light motor vehicles

incorporation date

August 1998

age

27

incorporated

UK

ultimate parent company

None

accounts

Full Accounts

last accounts submitted

December 2023

previous names

crossco (360) limited (November 1998)

accountant

-

auditor

UNW LLP

address

centre for advanced industry, 3rd floor, royal quays, north tyneside, NE29 6DE

Bank

LLOYDS TSB BANK PLC

Legal Advisor

WOMBLE BOND DICKINSON LLP

vehicle lease and service 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 51 charges/mortgages relating to vehicle lease and service limited. Currently there are 14 open charges and 37 have been satisfied in the past.

vehicle lease and service 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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vehicle lease and service limited Companies House Filings - See Documents

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