Solitec Engineering Limited

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solitec engineering limited Company Information

Live

MatureSmallLow

Company Number

03614461

Next Accounts

Feb 2025

Industry

Other manufacturing n.e.c.

Directors

Ann McCauley

Sean Swales

Shareholders

rotolok (holdings) ltd

Group Structure

View All

Contact

Registered Address

1 millennium place, tiverton business park, tiverton, devon, EX16 6SB

Website

www.solitec.co.uk

solitec engineering limited Estimated Valuation

£1.3m

Pomanda estimates the enterprise value of SOLITEC ENGINEERING LIMITED at £1.3m based on a Turnover of £1.9m and 0.7x industry multiple (adjusted for size and gross margin).

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Solitec Engineering Limited is a live company located in tiverton, EX16 6SB with a Companies House number of 03614461. It operates in the other manufacturing n.e.c. sector, SIC Code 32990. Founded in August 1998, it's largest shareholder is rotolok (holdings) ltd with a 100% stake. Solitec Engineering Limited is a mature, small sized company, Pomanda has estimated its turnover at £1.9m with low growth in recent years.

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Pomanda's financial health check has awarded Solitec Engineering Limited a 3.5 rating. We use a traffic light system to show it exceeds the industry average on 2 measures and has 5 areas for improvement. Company Health Check FAQs

Health Rating3.5out of 5

2 Strong

5 Regular

5 Weak

Size

annual sales of £1.9m, make it smaller than the average company (£13.4m)

Growth

3 year (CAGR) sales growth of 0%, show it is growing at a slower rate (4.5%)

EXPORT

Solitec Engineering Limited's latest turnover from May 2023 is estimated at £1.9 million and the company has net assets of £601.4 thousand. According to their latest financial statements, Solitec Engineering Limited has 30 employees and maintains cash reserves of £355.7 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	May 2023	May 2022	May 2021	May 2020	May 2019	May 2018	May 2017	May 2016	May 2015	May 2014	May 2013	May 2012	May 2011	May 2010
Turnover	1,850,264	1,605,972	2,189,641	1,845,198	3,274,178	1,895,903	1,538,730	1,756,194	2,138,944	1,667,702	1,465,451	1,729,667	1,819,428	1,649,504
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,305,261	1,123,485	1,572,409	1,303,950	2,283,874	1,318,852	1,039,972	1,185,676	1,463,199	1,134,302	996,442	1,167,695	1,232,258	1,102,906
Gross Profit	545,002	482,487	617,232	541,247	990,304	577,051	498,758	570,518	675,745	533,401	469,009	561,972	587,170	546,598
Admin Expenses	546,042	270,893	761,048	446,782	748,650	756,402	658,800	290,740	652,710	692,476	304,944	468,516	314,828	330,338
Operating Profit	-1,040	211,594	-143,816	94,465	241,654	-179,351	-160,042	279,778	23,035	-159,075	164,065	93,456	272,342	216,260
Interest Payable	0	0	0	0	0	0	0	0	0	0	4,252	4,543	6,344	6,053
Interest Receivable	15,846	2,602	259	434	2,744	550	239	592	183	736	761	130	111	47
Pre-Tax Profit	14,805	214,196	-143,557	94,899	244,399	-178,801	-159,803	280,370	23,218	-158,339	160,574	89,043	266,109	210,254
Tax	-3,701	-40,697	0	-18,031	-46,436	0	0	-56,074	-4,643	0	-36,932	-21,370	-69,188	-58,871
Profit After Tax	11,104	173,499	-143,557	76,868	197,963	-178,801	-159,803	224,296	18,574	-158,339	123,642	67,673	196,921	151,383
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	11,104	173,499	-143,557	76,868	197,963	-178,801	-159,803	224,296	18,574	-158,339	123,642	67,673	196,921	151,383
Employee Costs	1,212,037	925,015	732,898	874,090	1,007,259	839,907	807,579	765,694	489,438	409,944	374,026	439,594	458,548	410,223
Number Of Employees	30	24	20	24	28	24	24	23	15	13	12	14	15	14
EBITDA*	68,313	217,247	-134,643	103,050	251,625	-137,065	-148,352	290,029	36,702	-150,458	172,552	104,774	282,789	226,750

* Earnings Before Interest, Tax, Depreciation and Amortisation

	May 2023	May 2022	May 2021	May 2020	May 2019	May 2018	May 2017	May 2016	May 2015	May 2014	May 2013	May 2012	May 2011	May 2010
Tangible Assets	208,058	66,807	27,515	25,751	32,315	42,286	35,072	45,660	41,001	25,846	25,457	33,944	31,338	31,465
Intangible Assets	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
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	208,058	66,807	27,515	25,751	32,315	42,286	35,072	45,660	41,001	25,846	25,457	33,944	31,338	31,465
Stock & work in progress	206,870	266,171	513,220	359,295	266,446	258,915	384,291	411,833	411,753	305,554	291,419	292,782	299,472	294,872
Trade Debtors	74,333	137,370	401,298	244,107	860,220	328,592	138,505	232,107	341,288	319,052	243,549	390,294	345,317	297,607
Group Debtors	51,789	65,719	84,988	827,663	52,727	57,971	104,113	49,796	0	0	0	0	0	0
Misc Debtors	418,820	405,054	107,277	225,575	102,345	57,678	151,442	37,928	0	0	0	0	0	0
Cash	355,722	348,536	171,841	345,732	522,445	209,366	10,784	180,178	56,676	16,514	278,069	26,271	25,917	18,622
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	1,107,534	1,222,850	1,278,624	2,002,372	1,804,183	912,522	789,135	911,842	809,717	641,120	813,037	709,347	670,706	611,101
total assets	1,315,592	1,289,657	1,306,139	2,028,123	1,836,498	954,808	824,207	957,502	850,718	666,966	838,494	743,291	702,044	642,566
Bank overdraft	0	0	0	0	0	0	0	0	0	0	0	130,816	8,961	186,234
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	175,615	113,482	127,597	82,340	133,763	114,768	107,680	95,531	430,646	265,553	274,320	177,145	320,073	283,835
Group/Directors Accounts	152,511	229,552	443,976	1,088,198	925,322	403,394	104,037	103,868	0	0	0	0	0	0
other short term finances	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
other current liabilities	300,723	304,038	283,845	267,476	261,178	127,252	122,792	104,980	0	0	0	0	0	0
total current liabilities	628,849	647,072	855,418	1,438,014	1,320,263	645,414	334,509	304,379	430,646	265,553	274,320	307,961	329,034	470,069
loans	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
Accruals and Deferred Income	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
provisions	85,319	52,265	33,900	29,731	32,725	23,847	25,350	28,972	20,217	20,132	24,554	19,352	24,705	21,113
total long term liabilities	85,319	52,265	33,900	29,731	32,725	23,847	25,350	28,972	20,217	20,132	24,554	19,352	24,705	21,113
total liabilities	714,168	699,337	889,318	1,467,745	1,352,988	669,261	359,859	333,351	450,863	285,685	298,874	327,313	353,739	491,182
net assets	601,424	590,320	416,821	560,378	483,510	285,547	464,348	624,151	399,855	381,281	539,620	415,978	348,305	151,384
total shareholders funds	601,424	590,320	416,821	560,378	483,510	285,547	464,348	624,151	399,855	381,281	539,620	415,978	348,305	151,384

	May 2023	May 2022	May 2021	May 2020	May 2019	May 2018	May 2017	May 2016	May 2015	May 2014	May 2013	May 2012	May 2011	May 2010
Operating Activities
Operating Profit	-1,040	211,594	-143,816	94,465	241,654	-179,351	-160,042	279,778	23,035	-159,075	164,065	93,456	272,342	216,260
Depreciation	69,353	5,653	9,173	8,585	9,971	42,286	11,690	10,251	13,667	8,617	8,487	11,318	10,447	10,490
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-3,701	-40,697	0	-18,031	-46,436	0	0	-56,074	-4,643	0	-36,932	-21,370	-69,188	-58,871
Stock	-59,301	-247,049	153,925	92,849	7,531	-125,376	-27,542	80	106,199	14,135	-1,363	-6,690	4,600	294,872
Debtors	-63,201	14,580	-703,782	282,053	571,051	50,181	74,229	-21,457	22,236	75,503	-146,745	44,977	47,710	297,607
Creditors	62,133	-14,115	45,257	-51,423	18,995	7,088	12,149	-335,115	165,093	-8,767	97,175	-142,928	36,238	283,835
Accruals and Deferred Income	-3,315	20,193	16,369	6,298	133,926	4,460	17,812	104,980	0	0	0	0	0	0
Deferred Taxes & Provisions	33,054	18,365	4,169	-2,994	8,878	-1,503	-3,622	8,755	85	-4,422	5,202	-5,353	3,592	21,113
Cash flow from operations	278,986	433,462	481,009	-338,002	-211,594	-51,825	-168,700	33,952	68,802	-253,285	386,105	-103,164	201,121	-119,652
Investing Activities
capital expenditure	-210,604	-44,945	-10,937	-2,021	0	-49,500	-1,102	-14,910	-28,822	-9,006	0	-13,924	-10,320	-41,955
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-210,604	-44,945	-10,937	-2,021	0	-49,500	-1,102	-14,910	-28,822	-9,006	0	-13,924	-10,320	-41,955
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	-77,041	-214,424	-644,222	162,876	521,928	299,357	169	103,868	0	0	0	0	0	0
Other Short Term Loans	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
Hire Purchase and Lease Commitments	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
share issue	0	0	0	0	0	0	0	0	0	0	0	0	0	1
interest	15,846	2,602	259	434	2,744	550	239	592	183	736	-3,491	-4,413	-6,233	-6,006
cash flow from financing	-61,195	-211,822	-643,963	163,310	524,672	299,907	408	104,460	183	736	-3,491	-4,413	-6,233	-6,005
cash and cash equivalents
cash	7,186	176,695	-173,891	-176,713	313,079	198,582	-169,394	123,502	40,162	-261,555	251,798	354	7,295	18,622
overdraft	0	0	0	0	0	0	0	0	0	0	-130,816	121,855	-177,273	186,234
change in cash	7,186	176,695	-173,891	-176,713	313,079	198,582	-169,394	123,502	40,162	-261,555	382,614	-121,501	184,568	-167,612

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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SOLITEC ENGINEERING LIMITED group structure

Solitec Engineering Limited has no subsidiary companies.

Ultimate parent company

ROTOLOK (HOLDINGS) LIMITED

01178138

1 parent

SOLITEC ENGINEERING LIMITED

03614461

SOLITEC ENGINEERING LIMITED Shareholders

rotolok (holdings) ltd

100%

Solitec Engineering Limited currently has 2 directors. The longest serving directors include Mrs Ann McCauley (Mar 1999) and Mr Sean Swales (Feb 2015).

officer	country	age	start	end	role
Mrs Ann McCauley	United Kingdom	75 years	Mar 1999	-	Director
Mr Sean Swales	United Kingdom	56 years	Feb 2015	-	Director

P&L

May 2023

turnover

1.9m

+15%

operating profit

-1k

gross margin

29.5%

-1.96%

turnover

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

Balance Sheet

May 2023

net assets

601.4k

+0.02%

total assets

1.3m

+0.02%

cash

355.7k

+0.02%

net assets

Total assets minus all liabilities

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company number

03614461

Type

Private limited with Share Capital

industry

32990 - Other manufacturing n.e.c.

incorporation date

August 1998

ultimate parent company

ROTOLOK (HOLDINGS) LIMITED

previous names

acreline technology ltd (October 1999)

address

1 millennium place, tiverton business park, tiverton, devon, EX16 6SB

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 5 charges/mortgages relating to solitec engineering limited. Currently there are 2 open charges and 3 have been satisfied in the past.

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solitec engineering limited Company Information

solitec engineering limited Estimated Valuation

solitec engineering limited Estimated Valuation

solitec engineering limited Estimated Valuation

Solitec Engineering Limited Overview

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SOLITEC ENGINEERING LIMITED financials

solitec engineering limited Credit Report and Business Information

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