ap racing limited
ap racing limited Company Information
Company Number
03794633
Website
www.apracing.comRegistered Address
seven stars industrial estate, wheler road, coventry, west midlands, CV3 4LB
Industry
Other manufacturing n.e.c.
Telephone
02476639595
Next Accounts Due
September 2024
Group Structure
View All
Shareholders
brembo n.v. 100%
ap racing limited Estimated Valuation
Pomanda estimates the enterprise value of AP RACING LIMITED at £65.6m based on a Turnover of £52.5m and 1.25x industry multiple (adjusted for size and gross margin).
ap racing limited Estimated Valuation
Pomanda estimates the enterprise value of AP RACING LIMITED at £53.8m based on an EBITDA of £6.2m and a 8.72x industry multiple (adjusted for size and gross margin).
ap racing limited Estimated Valuation
Pomanda estimates the enterprise value of AP RACING LIMITED at £17.7m based on Net Assets of £29.4m and 0.6x industry multiple (adjusted for liquidity).
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Ap Racing Limited Overview
Ap Racing Limited is a live company located in coventry, CV3 4LB with a Companies House number of 03794633. It operates in the other manufacturing n.e.c. sector, SIC Code 32990. Founded in June 1999, it's largest shareholder is brembo n.v. with a 100% stake. Ap Racing Limited is a mature, large sized company, Pomanda has estimated its turnover at £52.5m with low growth in recent years.
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Ap Racing Limited Health Check
Pomanda's financial health check has awarded Ap Racing Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 4 areas for improvement. Company Health Check FAQs
7 Strong
1 Regular
4 Weak
Size
annual sales of £52.5m, make it larger than the average company (£13.3m)
£52.5m - Ap Racing Limited
£13.3m - Industry AVG
Growth
3 year (CAGR) sales growth of 2%, show it is growing at a slower rate (2.4%)
2% - Ap Racing Limited
2.4% - Industry AVG
Production
with a gross margin of 25.7%, this company has a comparable cost of product (29.5%)
25.7% - Ap Racing Limited
29.5% - Industry AVG
Profitability
an operating margin of 9.1% make it more profitable than the average company (6.1%)
9.1% - Ap Racing Limited
6.1% - Industry AVG
Employees
with 148 employees, this is above the industry average (72)
148 - Ap Racing Limited
72 - Industry AVG
Pay Structure
on an average salary of £58.4k, the company has a higher pay structure (£40.1k)
£58.4k - Ap Racing Limited
£40.1k - Industry AVG
Efficiency
resulting in sales per employee of £354.8k, this is more efficient (£175.8k)
£354.8k - Ap Racing Limited
£175.8k - Industry AVG
Debtor Days
it gets paid by customers after 86 days, this is later than average (56 days)
86 days - Ap Racing Limited
56 days - Industry AVG
Creditor Days
its suppliers are paid after 81 days, this is slower than average (42 days)
81 days - Ap Racing Limited
42 days - Industry AVG
Stock Days
it holds stock equivalent to 222 days, this is more than average (69 days)
222 days - Ap Racing Limited
69 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 19 weeks, this is more cash available to meet short term requirements (12 weeks)
19 weeks - Ap Racing Limited
12 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 43.1%, this is a lower level of debt than the average (50.3%)
43.1% - Ap Racing Limited
50.3% - Industry AVG
AP RACING LIMITED financials
Ap Racing Limited's latest turnover from December 2022 is £52.5 million and the company has net assets of £29.4 million. According to their latest financial statements, Ap Racing Limited has 148 employees and maintains cash reserves of £5.1 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| 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 | 52,509,000 | 43,485,000 | 35,609,000 | 50,129,000 | 50,577,000 | 51,960,000 | 45,075,000 | 38,086,000 | 36,700,000 | 35,710,000 | 33,419,000 | 32,206,000 | 27,556,000 | 23,089,000 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 39,024,000 | 31,082,000 | 25,442,000 | 36,108,000 | 37,171,000 | 38,779,000 | 33,577,000 | 26,625,000 | 25,533,000 | 25,876,000 | 22,742,000 | 21,038,000 | 18,058,000 | 15,936,000 |
| Gross Profit | 13,485,000 | 12,403,000 | 10,167,000 | 14,021,000 | 13,406,000 | 13,181,000 | 11,498,000 | 11,461,000 | 11,167,000 | 9,834,000 | 10,677,000 | 11,168,000 | 9,498,000 | 7,153,000 |
| Admin Expenses | 8,704,000 | 7,590,000 | 7,782,000 | 7,993,000 | 7,605,000 | 6,700,000 | 5,986,000 | 6,174,000 | 6,088,000 | 5,270,000 | 6,000,000 | 5,851,000 | 3,912,000 | 4,930,000 |
| Operating Profit | 4,781,000 | 4,813,000 | 2,385,000 | 6,028,000 | 5,801,000 | 6,481,000 | 5,512,000 | 5,287,000 | 5,079,000 | 4,564,000 | 4,677,000 | 5,317,000 | 5,586,000 | 2,223,000 |
| Interest Payable | 42,000 | 85,000 | 86,000 | 146,000 | 75,000 | 164,000 | 205,000 | 1,007,000 | 0 | 178,000 | 142,000 | 0 | 0 | 1,000 |
| Interest Receivable | 31,000 | 0 | 4,000 | 11,000 | 0 | 1,000 | 15,000 | 812,000 | 21,000 | 13,000 | 28,000 | 23,000 | 19,000 | 27,000 |
| Pre-Tax Profit | 4,770,000 | 4,728,000 | 2,303,000 | 5,893,000 | 5,726,000 | 6,318,000 | 5,322,000 | 5,092,000 | 4,948,000 | 4,399,000 | 4,563,000 | 5,466,000 | 5,527,000 | 2,105,000 |
| Tax | -790,000 | -1,097,000 | -495,000 | -1,033,000 | -1,024,000 | -1,160,000 | -961,000 | -1,125,000 | -998,000 | -963,000 | -983,000 | -1,269,000 | -1,577,000 | -565,000 |
| Profit After Tax | 3,980,000 | 3,631,000 | 1,808,000 | 4,860,000 | 4,702,000 | 5,158,000 | 4,361,000 | 3,967,000 | 3,950,000 | 3,436,000 | 3,580,000 | 4,197,000 | 3,950,000 | 1,540,000 |
| Dividends Paid | 0 | 0 | 0 | 4,600,000 | 2,000,000 | 4,121,000 | 1,000,000 | 6,500,000 | 0 | 0 | 5,000,000 | 4,000,000 | 400,000 | 3,000,000 |
| Retained Profit | 3,980,000 | 3,631,000 | 1,808,000 | 260,000 | 2,702,000 | 1,037,000 | 3,361,000 | -2,533,000 | 3,950,000 | 3,436,000 | -1,420,000 | 197,000 | 3,550,000 | -1,460,000 |
| Employee Costs | 8,645,000 | 7,776,000 | 6,737,000 | 7,458,000 | 7,074,000 | 6,698,000 | 5,910,000 | 5,828,000 | 5,775,000 | 6,143,000 | 5,957,000 | 4,948,000 | 3,556,000 | 4,598,000 |
| Number Of Employees | 148 | 148 | 151 | 146 | 140 | 137 | 130 | 128 | 129 | 127 | 126 | 123 | 119 | 115 |
| EBITDA* | 6,173,000 | 6,121,000 | 3,432,000 | 6,950,000 | 6,176,000 | 6,859,000 | 5,787,000 | 5,620,000 | 5,378,000 | 4,842,000 | 4,907,000 | 5,561,000 | 5,869,000 | 2,690,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| 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 | 6,720,000 | 6,616,000 | 6,337,000 | 6,048,000 | 1,772,000 | 1,524,000 | 1,587,000 | 1,140,000 | 908,000 | 835,000 | 876,000 | 917,000 | 1,029,000 | 1,247,000 |
| Intangible Assets | 515,000 | 4,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments & Other | 779,000 | 279,000 | 713,000 | 388,000 | 637,000 | 575,000 | 1,074,000 | 1,002,000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,365,000 | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 8,014,000 | 6,899,000 | 7,050,000 | 6,436,000 | 2,409,000 | 2,099,000 | 2,661,000 | 2,142,000 | 2,273,000 | 835,000 | 876,000 | 917,000 | 1,029,000 | 1,247,000 |
| Stock & work in progress | 23,795,000 | 17,274,000 | 16,609,000 | 14,431,000 | 11,712,000 | 9,549,000 | 9,658,000 | 8,256,000 | 8,797,000 | 8,069,000 | 7,895,000 | 7,755,000 | 6,955,000 | 6,048,000 |
| Trade Debtors | 12,503,000 | 8,579,000 | 9,254,000 | 9,321,000 | 9,170,000 | 8,986,000 | 6,856,000 | 6,466,000 | 6,816,000 | 7,400,000 | 4,539,000 | 5,034,000 | 4,481,000 | 4,089,000 |
| Group Debtors | 276,000 | 78,000 | 50,000 | 51,000 | 1,000 | 13,000 | 9,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Misc Debtors | 1,882,000 | 1,617,000 | 1,234,000 | 1,163,000 | 563,000 | 700,000 | 916,000 | 700,000 | 455,000 | 554,000 | 421,000 | 345,000 | 546,000 | 504,000 |
| Cash | 5,138,000 | 9,380,000 | 9,100,000 | 9,895,000 | 9,751,000 | 7,558,000 | 10,790,000 | 7,877,000 | 9,165,000 | 5,323,000 | 4,871,000 | 6,490,000 | 7,439,000 | 5,071,000 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 43,594,000 | 36,928,000 | 36,247,000 | 34,861,000 | 31,197,000 | 26,806,000 | 28,229,000 | 23,299,000 | 25,233,000 | 21,346,000 | 17,726,000 | 19,624,000 | 19,421,000 | 15,712,000 |
| total assets | 51,608,000 | 43,827,000 | 43,297,000 | 41,297,000 | 33,606,000 | 28,905,000 | 30,890,000 | 25,441,000 | 27,506,000 | 22,181,000 | 18,602,000 | 20,541,000 | 20,450,000 | 16,959,000 |
| Bank overdraft | 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 |
| Trade Creditors | 8,708,000 | 4,710,000 | 4,921,000 | 5,424,000 | 4,538,000 | 3,591,000 | 5,260,000 | 3,139,000 | 2,879,000 | 3,394,000 | 2,459,000 | 3,158,000 | 3,340,000 | 2,848,000 |
| Group/Directors Accounts | 1,428,000 | 495,000 | 395,000 | 483,000 | 555,000 | 414,000 | 357,000 | 261,000 | 303,000 | 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 | 538,000 | 517,000 | 430,000 | 407,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 2,859,000 | 1,945,000 | 8,058,000 | 6,956,000 | 1,977,000 | 951,000 | 1,695,000 | 1,795,000 | 1,112,000 | 730,000 | 1,240,000 | 1,213,000 | 1,034,000 | 619,000 |
| total current liabilities | 13,533,000 | 7,667,000 | 13,804,000 | 13,270,000 | 7,070,000 | 4,956,000 | 7,312,000 | 5,195,000 | 4,294,000 | 4,124,000 | 3,699,000 | 4,371,000 | 4,374,000 | 3,467,000 |
| loans | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 297,000 | 156,000 | 85,000 | 85,000 | 85,000 | 85,000 |
| hp & lease commitments | 596,000 | 1,110,000 | 1,408,000 | 1,776,000 | 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 | 7,090,000 | 6,100,000 | 83,000 | 39,000 | 0 | 142,000 | 23,000 | 0 | 0 | 0 | 0 | 220,000 | 0 | 0 |
| provisions | 928,000 | 716,000 | 445,000 | 260,000 | 126,000 | 143,000 | 141,000 | 100,000 | 0 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 8,699,000 | 9,031,000 | 5,654,000 | 4,359,000 | 3,989,000 | 3,608,000 | 6,542,000 | 5,749,000 | 6,599,000 | 2,951,000 | 3,233,000 | 2,697,000 | 2,089,000 | 4,170,000 |
| total liabilities | 22,232,000 | 16,698,000 | 19,458,000 | 17,629,000 | 11,059,000 | 8,564,000 | 13,854,000 | 10,944,000 | 10,893,000 | 7,075,000 | 6,932,000 | 7,068,000 | 6,463,000 | 7,637,000 |
| net assets | 29,376,000 | 27,129,000 | 23,839,000 | 23,668,000 | 22,547,000 | 20,341,000 | 17,036,000 | 14,497,000 | 16,613,000 | 15,106,000 | 11,670,000 | 13,473,000 | 13,987,000 | 9,322,000 |
| total shareholders funds | 29,376,000 | 27,129,000 | 23,839,000 | 23,668,000 | 22,547,000 | 20,341,000 | 17,036,000 | 14,497,000 | 16,613,000 | 15,106,000 | 11,670,000 | 13,473,000 | 13,987,000 | 9,322,000 |
| 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 | 4,781,000 | 4,813,000 | 2,385,000 | 6,028,000 | 5,801,000 | 6,481,000 | 5,512,000 | 5,287,000 | 5,079,000 | 4,564,000 | 4,677,000 | 5,317,000 | 5,586,000 | 2,223,000 |
| Depreciation | 1,392,000 | 1,308,000 | 1,047,000 | 922,000 | 375,000 | 378,000 | 275,000 | 333,000 | 299,000 | 278,000 | 230,000 | 244,000 | 283,000 | 467,000 |
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tax | -790,000 | -1,097,000 | -495,000 | -1,033,000 | -1,024,000 | -1,160,000 | -961,000 | -1,125,000 | -998,000 | -963,000 | -983,000 | -1,269,000 | -1,577,000 | -565,000 |
| Stock | 6,521,000 | 665,000 | 2,178,000 | 2,719,000 | 2,163,000 | -109,000 | 1,402,000 | -541,000 | 728,000 | 174,000 | 140,000 | 800,000 | 907,000 | 6,048,000 |
| Debtors | 4,387,000 | -264,000 | 3,000 | 801,000 | 35,000 | 1,918,000 | 615,000 | -1,470,000 | 682,000 | 2,994,000 | -419,000 | 352,000 | 434,000 | 4,593,000 |
| Creditors | 3,998,000 | -211,000 | -503,000 | 886,000 | 947,000 | -1,669,000 | 2,121,000 | 260,000 | -515,000 | 935,000 | -699,000 | -182,000 | 492,000 | 2,848,000 |
| Accruals and Deferred Income | 914,000 | -6,113,000 | 1,102,000 | 4,979,000 | 1,026,000 | -744,000 | -100,000 | 683,000 | 382,000 | -510,000 | 27,000 | 179,000 | 415,000 | 619,000 |
| Deferred Taxes & Provisions | 212,000 | 271,000 | 185,000 | 134,000 | -17,000 | 2,000 | 41,000 | 100,000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow from operations | -401,000 | -1,430,000 | 1,540,000 | 8,396,000 | 4,910,000 | 1,479,000 | 4,871,000 | 7,549,000 | 2,837,000 | 1,136,000 | 3,531,000 | 3,137,000 | 3,858,000 | -5,049,000 |
| Investing Activities | ||||||||||||||
| capital expenditure | ||||||||||||||
| Change in Investments | 500,000 | -434,000 | 325,000 | -249,000 | 62,000 | -499,000 | 72,000 | 1,002,000 | 0 | 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 |
| Group/Directors Accounts | 933,000 | 100,000 | -88,000 | -72,000 | 141,000 | 57,000 | 96,000 | -42,000 | 303,000 | 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 | -212,000 | 141,000 | 71,000 | 0 | 0 | 0 | 85,000 |
| Hire Purchase and Lease Commitments | -493,000 | -211,000 | -345,000 | 2,183,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 990,000 | 6,017,000 | 44,000 | 39,000 | -142,000 | 119,000 | 23,000 | 0 | 0 | 0 | -220,000 | 220,000 | 0 | 0 |
| share issue | ||||||||||||||
| interest | -11,000 | -85,000 | -82,000 | -135,000 | -75,000 | -163,000 | -190,000 | -195,000 | 21,000 | -165,000 | -114,000 | 23,000 | 19,000 | 26,000 |
| cash flow from financing | -314,000 | 5,480,000 | -2,108,000 | 2,876,000 | -572,000 | 2,281,000 | -893,000 | -32,000 | -1,978,000 | -94,000 | -717,000 | -468,000 | 1,134,000 | 10,893,000 |
| cash and cash equivalents | ||||||||||||||
| cash | -4,242,000 | 280,000 | -795,000 | 144,000 | 2,193,000 | -3,232,000 | 2,913,000 | -1,288,000 | 3,842,000 | 452,000 | -1,619,000 | -949,000 | 2,368,000 | 5,071,000 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | -4,242,000 | 280,000 | -795,000 | 144,000 | 2,193,000 | -3,232,000 | 2,913,000 | -1,288,000 | 3,842,000 | 452,000 | -1,619,000 | -949,000 | 2,368,000 | 5,071,000 |
ap racing limited Credit Report and Business Information
Ap Racing Limited Competitor Analysis
Perform a competitor analysis for ap racing limited by selecting its closest rivals, whether from the MANUFACTURING sector, other large companies, companies in CV3 area or any other competitors across 12 key performance metrics.
ap racing limited Ownership
AP RACING LIMITED group structure
Ap Racing Limited has 1 subsidiary company.
Ultimate parent company
FRENI BREMBO SPA
#0028433
1 parent
AP RACING LIMITED
03794633
1 subsidiary
ap racing limited directors
Ap Racing Limited currently has 5 directors. The longest serving directors include Dr Edward Crust (Jul 2015) and Mr Mario Almondo (Apr 2017).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Dr Edward Crust | 46 years | Jul 2015 | - | Director | |
| Mr Mario Almondo | 60 years | Apr 2017 | - | Director | |
| Mr David Hamblin | 43 years | Jun 2018 | - | Director | |
| Mr Andrea Pazzi | 56 years | Dec 2018 | - | Director | |
| Mr Alberto Signori | 52 years | Jan 2021 | - | Director |
P&L
December 2022turnover
52.5m
+21%
operating profit
4.8m
-1%
gross margin
25.7%
-9.96%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2022net assets
29.4m
+0.08%
total assets
51.6m
+0.18%
cash
5.1m
-0.45%
net assets
Total assets minus all liabilities
ap racing limited company details
company number
03794633
Type
Private limited with Share Capital
industry
32990 - Other manufacturing n.e.c.
incorporation date
June 1999
age
25
incorporated
UK
accounts
Full Accounts
ultimate parent company
previous names
forcedual limited (July 1999)
last accounts submitted
December 2022
address
seven stars industrial estate, wheler road, coventry, west midlands, CV3 4LB
accountant
-
auditor
DELOITTE LLP
ap racing 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 1 charges/mortgages relating to ap racing limited. Currently there are 1 open charges and 0 have been satisfied in the past.
ap racing limited Companies House Filings - See Documents
| date | description | view/download |
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