keysource limited

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keysource limited Company Information

Share KEYSOURCE LIMITED

Company Number

03663128

Shareholders

keysource group limited

Group Structure

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Industry

Construction of commercial buildings

 +2

Registered Address

3 city place beehive ring road, london gatwick airport, gatwick, RH6 0PA

keysource limited Estimated Valuation

£13.3m

Pomanda estimates the enterprise value of KEYSOURCE LIMITED at £13.3m based on a Turnover of £16.9m and 0.78x industry multiple (adjusted for size and gross margin).

keysource limited Estimated Valuation

£7.2m

Pomanda estimates the enterprise value of KEYSOURCE LIMITED at £7.2m based on an EBITDA of £1.3m and a 5.67x industry multiple (adjusted for size and gross margin).

keysource limited Estimated Valuation

£7.9m

Pomanda estimates the enterprise value of KEYSOURCE LIMITED at £7.9m based on Net Assets of £3.3m and 2.35x industry multiple (adjusted for liquidity).

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Keysource Limited Overview

Keysource Limited is a live company located in gatwick, RH6 0PA with a Companies House number of 03663128. It operates in the steam and air conditioning supply sector, SIC Code 35300. Founded in November 1998, it's largest shareholder is keysource group limited with a 100% stake. Keysource Limited is a mature, mid sized company, Pomanda has estimated its turnover at £16.9m with healthy growth in recent years.

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Keysource Limited Health Check

Pomanda's financial health check has awarded Keysource Limited a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 3 areas for improvement. Company Health Check FAQs

Health Check Image
Health Rating4.5out of 5
positive_score

5 Strong

positive_score

4 Regular

positive_score

3 Weak

size

Size

annual sales of £16.9m, make it larger than the average company (£4.6m)

£16.9m - Keysource Limited

£4.6m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of 8%, show it is growing at a similar rate (7.8%)

8% - Keysource Limited

7.8% - Industry AVG

production

Production

with a gross margin of 22.7%, this company has a comparable cost of product (21.9%)

22.7% - Keysource Limited

21.9% - Industry AVG

profitability

Profitability

an operating margin of 5.8% make it as profitable than the average company (6.3%)

5.8% - Keysource Limited

6.3% - Industry AVG

employees

Employees

with 49 employees, this is above the industry average (16)

49 - Keysource Limited

16 - Industry AVG

paystructure

Pay Structure

on an average salary of £63.2k, the company has an equivalent pay structure (£52.7k)

£63.2k - Keysource Limited

£52.7k - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £344.7k, this is more efficient (£231.6k)

£344.7k - Keysource Limited

£231.6k - Industry AVG

debtordays

Debtor Days

it gets paid by customers after 115 days, this is later than average (56 days)

115 days - Keysource Limited

56 days - Industry AVG

creditordays

Creditor Days

its suppliers are paid after 192 days, this is slower than average (40 days)

192 days - Keysource Limited

40 days - Industry AVG

stockdays

Stock Days

it holds stock equivalent to 0 days, this is less than average (13 days)

0 days - Keysource Limited

13 days - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 7 weeks, this is less cash available to meet short term requirements (23 weeks)

7 weeks - Keysource Limited

23 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 71.8%, this is a higher level of debt than the average (61.5%)

71.8% - Keysource Limited

61.5% - Industry AVG

KEYSOURCE LIMITED financials

EXPORTms excel logo

Keysource Limited's latest turnover from June 2023 is £16.9 million and the company has net assets of £3.3 million. According to their latest financial statements, Keysource Limited has 49 employees and maintains cash reserves of £1.1 million as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Jun 2023Jun 2022Jun 2021Jun 2020Jun 2019Jun 2018Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Turnover16,891,00014,811,00016,102,00013,550,00013,649,00021,610,00013,003,00018,674,49423,932,53530,003,86731,597,70112,887,72012,763,97313,985,568
Other Income Or Grants
Cost Of Sales13,055,00010,911,00011,967,00010,564,00010,051,00016,484,0008,664,00013,966,41819,370,94224,501,37827,327,1719,753,9419,168,63510,237,012
Gross Profit3,836,0003,900,0004,135,0002,986,0003,598,0005,126,0004,339,0004,708,0764,561,5935,502,4894,270,5303,133,7793,595,3383,748,556
Admin Expenses2,859,0002,397,0002,611,0007,445,0002,011,0002,844,0004,176,0004,087,6884,315,8534,267,6703,724,9942,939,9802,630,8433,180,956
Operating Profit977,0001,503,0001,524,000-4,459,0001,587,0002,282,000163,000620,388245,7401,234,819545,536193,799964,495567,600
Interest Payable73,00079,00091,000104,00012,00021,00021,00015,82825,37032,89420,53113,61312,19811,102
Interest Receivable3,0009,07311,48922,6932,016600
Pre-Tax Profit904,0001,424,0001,433,000-4,563,000-514,0002,261,000145,000613,633231,8591,224,618527,021180,186952,897556,498
Tax-97,000-123,000-327,00069,00071,00071,00087,000-67,942-16,794-56,145-137,707-53,514-283,810-164,506
Profit After Tax807,0001,301,0001,106,000-4,494,000-443,0002,332,000232,000545,691215,0651,168,473389,314126,672669,087391,992
Dividends Paid63,00093,30135,000375,000270,818500,000262,000
Retained Profit807,0001,301,0001,106,000-4,494,000-443,0002,332,000169,000452,390180,0651,168,47314,314-144,146169,087129,992
Employee Costs3,097,0002,563,0003,229,0003,017,0002,910,0005,404,0003,896,0004,274,6204,584,5864,647,8643,661,4782,702,4942,402,3762,506,125
Number Of Employees4943535350577183868969565156
EBITDA*1,261,0001,790,0001,790,000-4,201,0001,642,0002,473,000393,000895,822503,0481,510,548800,028418,0811,136,311736,122

* Earnings Before Interest, Tax, Depreciation and Amortisation

Jun 2023Jun 2022Jun 2021Jun 2020Jun 2019Jun 2018Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Tangible Assets150,000153,0001,056,0001,317,000220,000221,00086,000270,468479,197585,281721,872543,673374,625295,380
Intangible Assets852,000853,0009,000227,000339,109346,0458,36543,85887,716131,574
Investments & Other121,289121,2895,0005,000
Debtors (Due After 1 year)47,721
Total Fixed Assets1,002,0001,006,0001,056,0001,317,000220,000230,000313,000730,866946,531641,367721,872587,531467,341431,954
Stock & work in progress30,00026,00024,00031,00026,00028,00041,000736,979844,162692,179420,606514,584494,961470,565
Trade Debtors5,360,0003,837,0002,641,0002,623,0002,117,0001,498,0002,725,0003,274,8973,144,6566,186,2385,405,9492,567,4264,291,2232,953,653
Group Debtors4,082,0002,791,0001,468,0005,0006,336,0004,866,0002,448,000
Misc Debtors251,000268,000185,000274,000405,000236,0001,290,0001,337,8771,884,495961,0154,814,752702,467310,537403,224
Cash1,091,0001,953,0001,571,0001,544,00052,000530,000577,0001,962,5681,649,7293,359,3303,660,8812,214,654508,2151,016,053
misc current assets
total current assets10,814,0008,875,0005,914,0004,662,0008,936,0007,158,0007,081,0007,312,3217,523,04211,198,76214,302,1885,999,1315,604,9364,843,495
total assets11,816,0009,881,0006,970,0005,979,0009,156,0007,388,0007,394,0008,043,1878,469,57311,840,12915,024,0606,586,6626,072,2775,275,449
Bank overdraft
Bank loan
Trade Creditors 6,869,0005,346,0001,059,000892,0002,898,000754,0001,131,000773,2171,919,3561,680,2591,853,477526,144741,157163,835
Group/Directors Accounts16,00013,0005,0745,074
other short term finances70,000100,000
hp & lease commitments262,000219,00040,00053,00056,61782,54773,59687,87375,15236,48947,088
other current liabilities559,000939,0003,546,0003,591,0001,480,0001,362,0003,048,0004,384,2554,055,3728,014,91312,135,6454,991,2803,892,2413,796,042
total current liabilities7,690,0006,504,0004,605,0004,483,0004,394,0002,169,0004,232,0005,214,0896,057,2759,768,76814,076,9955,592,5764,744,9614,112,039
loans2,274,0002,748,000
hp & lease commitments790,000848,0001,137,0001,374,00014,00079,000132,519192,83938,892100,984156,52570,62721,501
Accruals and Deferred Income
other liabilities70,000
provisions210,00018,2407,63014,02315,693
total long term liabilities790,000848,0001,137,0001,374,00014,000289,000150,759192,83938,892108,614170,54886,32091,501
total liabilities8,480,0007,352,0005,742,0005,857,0004,394,0002,183,0004,521,0005,364,8486,250,1149,807,66014,185,6095,763,1244,831,2814,203,540
net assets3,336,0002,529,0001,228,000122,0004,762,0005,205,0002,873,0002,678,3392,219,4592,032,469838,451823,5381,240,9961,071,909
total shareholders funds3,336,0002,529,0001,228,000122,0004,762,0005,205,0002,873,0002,678,3392,219,4592,032,469838,451823,5381,240,9961,071,909
Jun 2023Jun 2022Jun 2021Jun 2020Jun 2019Jun 2018Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Operating Activities
Operating Profit977,0001,503,0001,524,000-4,459,0001,587,0002,282,000163,000620,388245,7401,234,819545,536193,799964,495567,600
Depreciation49,000287,000266,000258,00044,00084,000144,000217,861245,420275,115210,634180,424127,958124,664
Amortisation235,00011,000107,00086,00057,57311,88861443,85843,85843,85843,858
Tax-97,000-123,000-327,00069,00071,00071,00087,000-67,942-16,794-56,145-137,707-53,514-283,810-164,506
Stock4,0002,000-7,0005,000-2,00028,000-695,979-107,183151,983271,573-93,97819,62324,396470,565
Debtors2,797,0002,602,0001,392,000-5,956,0002,258,0006,600,0001,850,226-416,377-2,165,823-3,025,7276,950,808-1,331,8671,244,8833,356,877
Creditors1,523,0004,287,000167,000-2,006,0002,144,000754,000357,783-1,146,139239,097-173,2181,327,333-215,013577,322163,835
Accruals and Deferred Income-380,000-2,607,000-45,0002,111,000118,0001,362,000-1,336,255328,883-3,959,541-4,120,7327,144,3651,099,03996,1993,796,042
Deferred Taxes & Provisions191,76018,240-7,630-6,393-1,67015,693
Cash flow from operations-494,000743,000200,0001,924,0001,719,000-1,968,000-1,460,959552,424-1,220,350-93,0232,270,7962,559,167272,436704,051
Investing Activities
capital expenditure-280,000-237,000-5,000-1,355,000-50,000-421,00066,577-41,631-219,044-124,230-284,787-138,801-84,799-50,335
Change in Investments-121,289121,289-5,0005,000
cash flow from investments-280,000-237,000-5,000-1,355,000-50,000-421,000187,866-41,631-340,333-124,230-284,787-133,801-84,799-55,335
Financing Activities
Bank loans
Group/Directors Accounts-16,0003,00013,000-5,0745,074
Other Short Term Loans -70,000-30,000100,000
Long term loans-2,274,000-474,0002,748,000
Hire Purchase and Lease Commitments-15,000-70,000-237,0001,374,000-54,00054,000-57,136-86,250162,898-76,369-42,820124,56138,52768,589
other long term liabilities-70,00070,000
share issue-146,0002,873,00025,6616,4906,92525,545599-273,312941,917
interest-73,000-79,000-91,000-104,000-12,000-21,000-18,000-6,755-13,881-10,201-18,515-13,613-11,598-11,102
cash flow from financing-88,000-2,423,000-802,0003,856,000-63,0002,919,000-49,475-86,515155,942-61,025-60,736-237,438-73,0711,174,478
cash and cash equivalents
cash-862,000382,00027,0001,492,000-478,000530,000-1,385,568312,839-1,709,601-301,5511,446,2271,706,439-507,8381,016,053
overdraft
change in cash-862,000382,00027,0001,492,000-478,000530,000-1,385,568312,839-1,709,601-301,5511,446,2271,706,439-507,8381,016,053

keysource 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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Keysource Limited Competitor Analysis

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Perform a competitor analysis for keysource limited by selecting its closest rivals, whether from the ELECTRICITY, GAS, STEAM AND AIR CONDITIONING SUPPLY sector, other mid companies, companies in RH6 area or any other competitors across 12 key performance metrics.

keysource limited Ownership

KEYSOURCE LIMITED group structure

Keysource Limited has 1 subsidiary company.

KEYSOURCE LIMITED Shareholders

keysource group limited 100%

keysource limited directors

Keysource Limited currently has 4 directors. The longest serving directors include Mr Stephen Whatling (Jun 2016) and Mr Craig Eastwood (Nov 2019).

officercountryagestartendrole
Mr Stephen Whatling57 years Jun 2016- Director
Mr Craig EastwoodUnited Kingdom61 years Nov 2019- Director
Mr Jonathan HealyUnited Kingdom40 years Jun 2020- Director
Mr Simon ThomsonUnited Kingdom53 years Jul 2023- Director

P&L

June 2023

turnover

16.9m

+14%

operating profit

977k

-35%

gross margin

22.8%

-13.75%

turnover

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

Balance Sheet

June 2023

net assets

3.3m

+0.32%

total assets

11.8m

+0.2%

cash

1.1m

-0.44%

net assets

Total assets minus all liabilities

keysource limited company details

company number

03663128

Type

Private limited with Share Capital

industry

35300 - Steam and air conditioning supply

41201 - Construction of commercial buildings

43210 - Electrical installation

incorporation date

November 1998

age

27

incorporated

UK

ultimate parent company

accounts

Full Accounts

last accounts submitted

June 2023

previous names

key source aps ltd. (July 2002)

accountant

-

auditor

RSM UK AUDIT LLP

address

3 city place beehive ring road, london gatwick airport, gatwick, RH6 0PA

Bank

-

Legal Advisor

-

keysource 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 13 charges/mortgages relating to keysource limited. Currently there are 3 open charges and 10 have been satisfied in the past.

keysource 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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keysource limited Companies House Filings - See Documents

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