Whites Engineering Limited

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whites engineering limited Company Information

Company Number

03671019

Next Accounts

82 days late

Directors

David Carr

David Wykes

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Shareholders

regen holdings limited

Group Structure

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Industry

Manufacture of other transport equipment n.e.c.

Registered Address

goosey lodge wymington, nr rushden, northants, NN10 9LU

Website

www.whitesrecycling.co.uk

whites engineering limited Estimated Valuation

£7m

Pomanda estimates the enterprise value of WHITES ENGINEERING LIMITED at £7m based on a Turnover of £18.4m and 0.38x industry multiple (adjusted for size and gross margin).

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Whites Engineering Limited is a live company located in northants, NN10 9LU with a Companies House number of 03671019. It operates in the manufacture of other transport equipment n.e.c. sector, SIC Code 30990. Founded in November 1998, it's largest shareholder is regen holdings limited with a 100% stake. Whites Engineering Limited is a mature, mid sized company, Pomanda has estimated its turnover at £18.4m with declining growth in recent years.

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Pomanda's financial health check has awarded Whites Engineering Limited a 2.5 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 7 areas for improvement. Company Health Check FAQs

Health Rating2.5out of 5

4 Strong

1 Regular

7 Weak

Size

annual sales of £18.4m, make it larger than the average company (£15.2m)

Growth

3 year (CAGR) sales growth of -3%, show it is growing at a slower rate (3.7%)

EXPORT

Whites Engineering Limited's latest turnover from March 2023 is £18.4 million and the company has net assets of £1.6 million. According to their latest financial statements, Whites Engineering Limited has 104 employees and maintains cash reserves of £10.7 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Turnover	18,372,605	15,960,790	16,280,786	20,089,576	18,947,828	18,058,771	19,095,423	17,881,798	16,718,400	14,957,528	12,272,264	9,241,114	1,252,408	764,879
Other Income Or Grants
Cost Of Sales	17,210,374	14,693,414	13,443,059	16,748,868	16,223,711	14,363,913	14,036,610	13,489,941	11,915,537	11,708,288	9,582,350	7,073,373	905,322	542,037
Gross Profit	1,162,231	1,267,376	2,837,727	3,340,708	2,724,117	3,694,858	5,058,813	4,391,857	4,802,863	3,249,240	2,689,914	2,167,741	347,086	222,842
Admin Expenses	2,344,166	3,072,453	2,745,089	2,731,308	2,824,112	2,555,421	2,444,799	1,967,752	1,696,413	1,124,020	901,184	946,900	368,012	-152,543
Operating Profit	-1,181,935	-1,805,077	92,638	609,400	-99,995	1,139,437	2,614,014	2,424,105	3,106,450	2,125,220	1,788,730	1,220,841	-20,926	375,385
Interest Payable	141,897	85,327	147,670	172,272	193,966	97,648	98,398	92,101	101,378	119,993	91,129	78,303	33,245	12,738
Interest Receivable				630		305		1,718			26
Pre-Tax Profit	-1,323,832	-1,890,404	-55,032	437,758	-293,961	1,042,094	2,515,616	2,333,722	3,005,072	2,005,227	1,697,627	1,142,538	-54,171	362,647
Tax	-162,272	-345,069	-68,873	-205,464	11,833	-104,976	-481,619	-374,226	-636,145	-458,711	-538,337	-297,357		-101,541
Profit After Tax	-1,486,104	-2,235,473	-123,905	232,294	-282,128	937,118	2,033,997	1,959,496	2,368,927	1,546,516	1,159,290	845,181	-54,171	261,106
Dividends Paid					1,100,000	3,100,000		28,888,807
Retained Profit	-1,486,104	-2,235,473	-123,905	232,294	-1,382,128	-2,162,882	2,033,997	-26,929,311	2,368,927	1,546,516	1,159,290	845,181	-54,171	261,106
Employee Costs	5,039,089	5,032,390	5,296,365	6,013,617	6,220,895	5,813,256	5,774,330	5,435,789	4,870,517	4,492,260	3,576,654	2,656,815	293,550	193,146
Number Of Employees	104	112	136	150	154	150	151	136	133	131	120	78	10	7
EBITDA*	71,981	-524,868	1,459,079	1,845,353	1,066,766	1,849,240	3,352,110	3,182,823	3,794,835	2,791,395	2,358,981	1,800,914	342,444	667,493

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Tangible Assets	6,818,844	7,622,485	9,484,670	9,460,755	9,299,461	8,351,543	6,640,250	5,394,122	5,491,279	5,130,689	4,461,637	2,461,870	1,458,156	1,255,860
Intangible Assets
Investments & Other													100	101
Debtors (Due After 1 year)														105,000
Total Fixed Assets	6,818,844	7,622,485	9,484,670	9,460,755	9,299,461	8,351,543	6,640,250	5,394,122	5,491,279	5,130,689	4,461,637	2,461,870	1,458,256	1,360,961
Stock & work in progress	82,915	76,281	59,307	100,858	67,309	99,875	74,868	51,850	97,488	69,007	43,359	64,630
Trade Debtors	2,290,563	2,528,571	2,306,371	3,063,109	3,183,855	2,869,795	3,151,867	3,760,933	3,243,994	3,262,867	3,862,129	2,421,457	324,316	132,649
Group Debtors	44,537	43,580	124,186	195,830	204,854	54,716	37,478	351
Misc Debtors	914,812	818,181	813,538	708,035	677,415	609,672	979,745	421,834	746,092	1,244,874	526,475	357,190
Cash	10,717	109,844	59,004	83,048	66,805	677,489	3,060,487	2,479,460	3,388,807	807,725	219,749	87,401
misc current assets
total current assets	3,343,544	3,576,457	3,362,406	4,150,880	4,200,238	4,311,547	7,304,445	6,714,428	7,476,381	5,384,473	4,651,712	2,930,678	324,316	132,649
total assets	10,162,388	11,198,942	12,847,076	13,611,635	13,499,699	12,663,090	13,944,695	12,108,550	12,967,660	10,515,162	9,113,349	5,392,548	1,782,572	1,493,610
Bank overdraft	887,887	1,181,932	475,776	805,045	781,291						393,556	38,725	193,770	199,729
Bank loan						137,481	143,593	137,505	102,755	102,500	102,500	102,500
Trade Creditors	1,803,854	1,603,596	1,374,794	1,631,440	1,647,750	1,533,111	1,292,573	1,315,106	962,583	1,302,153	1,515,483	833,792	62,456	155,741
Group/Directors Accounts	1,596,937	832,224	73,395	72,563	772	100,627	50,289	90,000
other short term finances
hp & lease commitments	815,344	1,035,368	1,519,352	1,529,323	1,332,789	1,075,962	856,184	775,180	728,461	672,135	576,067	447,162	236,325	152,944
other current liabilities	858,809	959,682	1,213,770	1,058,175	1,138,976	777,357	1,186,920	1,314,153	1,378,496	893,499	851,872	708,674
total current liabilities	5,962,831	5,612,802	4,657,087	5,096,546	4,901,578	3,624,538	3,529,559	3,631,944	3,172,295	2,970,287	3,439,478	2,130,853	492,551	508,414
loans	333,940	587,249	628,106			17,583	153,761	298,430	444,484	448,137	547,245	643,791	437,208	192,208
hp & lease commitments	1,011,893	821,335	1,493,923	2,392,097	2,908,377	1,953,940	1,122,791	1,121,723	1,290,837	1,197,979	834,109	363,105	246,121	121,587
Accruals and Deferred Income
other liabilities										300,000	300,000	300,000	300,000	300,000
provisions	1,270,927	1,108,655	763,586	694,713	493,759	488,916	397,589	349,455	423,735	331,377	271,651	68,220	99,657	110,195
total long term liabilities	2,616,760	2,517,239	2,885,615	3,086,810	3,402,136	2,460,439	1,674,141	1,769,608	2,159,056	2,277,493	1,953,005	1,375,116	1,082,986	723,990
total liabilities	8,579,591	8,130,041	7,542,702	8,183,356	8,303,714	6,084,977	5,203,700	5,401,552	5,331,351	5,247,780	5,392,483	3,505,969	1,575,537	1,232,404
net assets	1,582,797	3,068,901	5,304,374	5,428,279	5,195,985	6,578,113	8,740,995	6,706,998	7,636,309	5,267,382	3,720,866	1,886,579	207,035	261,206
total shareholders funds	1,582,797	3,068,901	5,304,374	5,428,279	5,195,985	6,578,113	8,740,995	6,706,998	7,636,309	5,267,382	3,720,866	1,886,579	207,035	261,206

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Operating Activities
Operating Profit	-1,181,935	-1,805,077	92,638	609,400	-99,995	1,139,437	2,614,014	2,424,105	3,106,450	2,125,220	1,788,730	1,220,841	-20,926	375,385
Depreciation	1,253,916	1,280,209	1,366,441	1,235,953	1,166,761	709,803	738,096	758,718	688,385	666,175	575,205	580,073	363,370	292,108
Amortisation											-4,954
Tax	-162,272	-345,069	-68,873	-205,464	11,833	-104,976	-481,619	-374,226	-636,145	-458,711	-538,337	-297,357		-101,541
Stock	6,634	16,974	-41,551	33,549	-32,566	25,007	23,018	-45,638	28,481	25,648	-21,271	64,630
Debtors	-140,420	146,237	-722,879	-99,150	531,941	-634,907	-14,028	193,032	-517,655	119,137	1,609,957	2,454,331	86,667	237,649
Creditors	200,258	228,802	-256,646	-16,310	114,639	240,538	-22,533	352,523	-339,570	-213,330	681,691	771,336	-93,285	155,741
Accruals and Deferred Income	-100,873	-254,088	155,595	-80,801	361,619	-409,563	-127,233	-64,343	484,997	41,627	143,198	708,674
Deferred Taxes & Provisions	162,272	345,069	68,873	200,954	4,843	91,327	48,134	-74,280	92,358	59,726	203,431	-31,437	-10,538	110,195
Cash flow from operations	305,152	-713,365	2,122,458	1,809,333	1,060,325	2,276,466	2,759,869	2,875,103	3,885,649	2,075,922	1,260,278	433,169	151,954	594,239
Investing Activities
capital expenditure						-356,551	-867,905	-284,445	-94,125	-140,624	-637,368	-1,490,339	-565,666	-1,547,968
Change in Investments												-100	-1	101
cash flow from investments						-356,551	-867,905	-284,445	-94,125	-140,624	-637,368	-1,490,239	-565,665	-1,548,069
Financing Activities
Bank loans					-137,481	-6,112	6,088	34,750	255			102,500
Group/Directors Accounts	764,713	758,829	832	71,791	-99,855	50,338	-39,711	90,000
Other Short Term Loans
Long term loans	-253,309	-40,857	628,106		-17,583	-136,178	-144,669	-146,054	-3,653	-99,108	-96,546	206,583	245,000	192,208
Hire Purchase and Lease Commitments	-29,466	-1,156,572	-908,145	-319,746	1,211,264	1,050,927	82,072	-122,395	149,184	459,938	599,909	327,821	207,915	274,531
other long term liabilities									-300,000					300,000
share issue								26,000,000			674,997	834,363		100
interest	-141,897	-85,327	-147,670	-171,642	-193,966	-97,343	-98,398	-90,383	-101,378	-119,993	-91,103	-78,303	-33,245	-12,738
cash flow from financing	340,041	-523,927	-426,877	-419,597	762,379	861,632	-194,618	25,765,918	-255,592	240,837	1,087,257	1,392,964	419,670	754,101
cash and cash equivalents
cash	-99,127	50,840	-24,044	16,243	-610,684	-2,382,998	581,027	-909,347	2,581,082	587,976	132,348	87,401
overdraft	-294,045	706,156	-329,269	23,754	781,291					-393,556	354,831	-155,045	-5,959	199,729
change in cash	194,918	-655,316	305,225	-7,511	-1,391,975	-2,382,998	581,027	-909,347	2,581,082	981,532	-222,483	242,446	5,959	-199,729

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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WHITES ENGINEERING LIMITED group structure

Whites Engineering Limited has 2 subsidiary companies.

Ultimate parent company

TPG ART-AIV LP

#0091718

REGEN HOLDINGS LIMITED

09353257

2 parents

WHITES ENGINEERING LIMITED

03671019

2 subsidiaries

WHITES RECYCLING LTD.

03765361

TILLERTECH LIMITED

02696937

WHITES ENGINEERING LIMITED Shareholders

regen holdings limited

100%

Whites Engineering Limited currently has 3 directors. The longest serving directors include Mr David Carr (Mar 2019) and Mr David Wykes (Oct 2024).

officer	country	age	start	end	role
Mr David Carr	England	52 years	Mar 2019	-	Director
Mr David Wykes	England	67 years	Oct 2024	-	Director
Mr William Wykes	England	34 years	Oct 2024	-	Director

P&L

March 2023

turnover

18.4m

+15%

operating profit

-1.2m

-35%

gross margin

6.4%

-20.33%

turnover

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

Balance Sheet

March 2023

net assets

1.6m

-0.48%

total assets

10.2m

-0.09%

cash

10.7k

-0.9%

net assets

Total assets minus all liabilities

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company number

03671019

Type

Private limited with Share Capital

industry

30990 - Manufacture of other transport equipment n.e.c.

incorporation date

November 1998

ultimate parent company

TPG ART-AIV LP

previous names

whites environmental engineering limited (January 1999)

address

goosey lodge wymington, nr rushden, northants, NN10 9LU

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 11 charges/mortgages relating to whites engineering limited. Currently there are 0 open charges and 11 have been satisfied in the past.

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whites engineering limited Company Information

whites engineering limited Estimated Valuation

whites engineering limited Estimated Valuation

whites engineering limited Estimated Valuation

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