modern networks limited
modern networks limited Company Information
Company Number
03881576
Next Accounts
92 days late
Shareholders
westgate bidco limited
Group Structure
View All
Industry
Other information technology and computer service activities
Registered Address
unit e2 18 knowl piece, wilbury way, hitchin, hertfordshire, SG4 0TY
Website
www.modern-networks.co.ukmodern networks limited Estimated Valuation
Pomanda estimates the enterprise value of MODERN NETWORKS LIMITED at £13.4m based on a Turnover of £15.7m and 0.86x industry multiple (adjusted for size and gross margin).
modern networks limited Estimated Valuation
Pomanda estimates the enterprise value of MODERN NETWORKS LIMITED at £10.8m based on an EBITDA of £1.8m and a 5.83x industry multiple (adjusted for size and gross margin).
modern networks limited Estimated Valuation
Pomanda estimates the enterprise value of MODERN NETWORKS LIMITED at £8.1m based on Net Assets of £3.6m and 2.25x industry multiple (adjusted for liquidity).
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Modern Networks Limited Overview
Modern Networks Limited is a live company located in hitchin, SG4 0TY with a Companies House number of 03881576. It operates in the other information technology service activities sector, SIC Code 62090. Founded in November 1999, it's largest shareholder is westgate bidco limited with a 100% stake. Modern Networks Limited is a mature, mid sized company, Pomanda has estimated its turnover at £15.7m with high growth in recent years.
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Modern Networks Limited Health Check
Pomanda's financial health check has awarded Modern Networks Limited a 4.5 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 £15.7m, make it larger than the average company (£6.5m)
£15.7m - Modern Networks Limited
£6.5m - Industry AVG
Growth
3 year (CAGR) sales growth of 16%, show it is growing at a faster rate (6.4%)
16% - Modern Networks Limited
6.4% - Industry AVG
Production
with a gross margin of 37%, this company has a higher cost of product (49.3%)
37% - Modern Networks Limited
49.3% - Industry AVG
Profitability
an operating margin of 6.6% make it more profitable than the average company (3.5%)
6.6% - Modern Networks Limited
3.5% - Industry AVG
Employees
with 114 employees, this is above the industry average (39)
114 - Modern Networks Limited
39 - Industry AVG
Pay Structure
on an average salary of £40.5k, the company has a lower pay structure (£69.4k)
£40.5k - Modern Networks Limited
£69.4k - Industry AVG
Efficiency
resulting in sales per employee of £137.3k, this is less efficient (£169.1k)
£137.3k - Modern Networks Limited
£169.1k - Industry AVG
Debtor Days
it gets paid by customers after 76 days, this is later than average (54 days)
76 days - Modern Networks Limited
54 days - Industry AVG
Creditor Days
its suppliers are paid after 49 days, this is slower than average (36 days)
49 days - Modern Networks Limited
36 days - Industry AVG
Stock Days
it holds stock equivalent to 6 days, this is less than average (16 days)
6 days - Modern Networks Limited
16 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 5 weeks, this is less cash available to meet short term requirements (15 weeks)
5 weeks - Modern Networks Limited
15 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 58.3%, this is a similar level of debt than the average (63.5%)
58.3% - Modern Networks Limited
63.5% - Industry AVG
MODERN NETWORKS LIMITED financials
Modern Networks Limited's latest turnover from March 2023 is £15.7 million and the company has net assets of £3.6 million. According to their latest financial statements, Modern Networks Limited has 114 employees and maintains cash reserves of £499.9 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 | Nov 2012 | Nov 2011 | Nov 2010 | Nov 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 15,652,074 | 14,361,840 | 13,192,059 | 9,948,066 | ||||||||||
| Other Income Or Grants | ||||||||||||||
| Cost Of Sales | 9,865,970 | 8,694,872 | 8,032,909 | 6,051,238 | ||||||||||
| Gross Profit | 5,786,104 | 5,666,968 | 5,159,150 | 3,896,828 | ||||||||||
| Admin Expenses | 4,748,135 | 4,258,091 | 2,653,940 | 2,167,863 | ||||||||||
| Operating Profit | 1,037,969 | 1,408,877 | 2,505,210 | 1,728,965 | ||||||||||
| Interest Payable | 849 | 70 | ||||||||||||
| Interest Receivable | 4,558 | 532 | 958 | 3,829 | ||||||||||
| Pre-Tax Profit | 1,042,527 | 1,409,409 | 2,505,319 | 1,732,724 | ||||||||||
| Tax | 189,840 | 402,649 | -421,782 | -310,189 | ||||||||||
| Profit After Tax | 1,232,367 | 1,812,058 | 2,083,537 | 1,422,535 | ||||||||||
| Dividends Paid | 2,208,639 | 2,208,639 | 649,352 | 193,500 | ||||||||||
| Retained Profit | -976,272 | -396,581 | 1,434,185 | 1,229,035 | ||||||||||
| Employee Costs | 4,612,997 | 4,148,947 | 3,963,484 | 3,060,616 | ||||||||||
| Number Of Employees | 114 | 111 | 96 | 86 | 83 | 75 | 23 | |||||||
| EBITDA* | 1,846,998 | 1,408,877 | 3,080,680 | 1,945,771 |
* 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 | Nov 2012 | Nov 2011 | Nov 2010 | Nov 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 648,047 | 843,529 | 1,177,353 | 1,046,735 | 539,972 | 392,266 | 139,967 | 112,615 | 146,739 | 169,064 | 89,575 | 98,971 | 80,952 | 62,038 |
| Intangible Assets | 1,532,228 | 630,022 | ||||||||||||
| Investments & Other | ||||||||||||||
| Debtors (Due After 1 year) | ||||||||||||||
| Total Fixed Assets | 2,180,275 | 1,473,551 | 1,177,353 | 1,046,735 | 539,972 | 392,266 | 139,967 | 112,615 | 146,739 | 169,064 | 89,575 | 98,971 | 80,952 | 62,038 |
| Stock & work in progress | 184,679 | 240,947 | 97,080 | 133,278 | 60,399 | 30,162 | 226,203 | 116,826 | 119,236 | 44,488 | 85,450 | 290,281 | 27,175 | 181,362 |
| Trade Debtors | 3,273,998 | 2,826,410 | 2,744,697 | 2,359,450 | 2,000,552 | 1,496,538 | 947,313 | 300,940 | 670,046 | 894,183 | 1,028,618 | 768,895 | 942,474 | 710,072 |
| Group Debtors | 291,918 | 71,112 | 96,481 | 20,000 | ||||||||||
| Misc Debtors | 2,182,718 | 1,364,523 | 1,842,195 | 1,236,179 | 698,800 | 624,487 | 626,394 | 182,967 | 115,376 | 53,366 | 20,447 | |||
| Cash | 499,914 | 1,928,156 | 2,642,239 | 1,786,177 | 1,215,429 | 562,697 | 367,001 | 35,640 | 59,051 | 65,411 | 123,321 | 163,557 | 26,078 | 3,638 |
| misc current assets | ||||||||||||||
| total current assets | 6,433,227 | 6,431,148 | 7,422,692 | 5,515,084 | 3,975,180 | 2,713,884 | 2,166,911 | 656,373 | 848,333 | 1,004,082 | 1,237,389 | 1,338,109 | 1,049,093 | 915,519 |
| total assets | 8,613,502 | 7,904,699 | 8,600,045 | 6,561,819 | 4,515,152 | 3,106,150 | 2,306,878 | 768,988 | 995,072 | 1,173,146 | 1,326,964 | 1,437,080 | 1,130,045 | 977,557 |
| Bank overdraft | ||||||||||||||
| Bank loan | ||||||||||||||
| Trade Creditors | 1,329,118 | 1,144,995 | 881,434 | 881,433 | 675,326 | 666,603 | 645,592 | 264,319 | 824,012 | 947,306 | 1,134,391 | 1,168,604 | 961,417 | 828,056 |
| Group/Directors Accounts | 20,037 | 50,993 | ||||||||||||
| other short term finances | ||||||||||||||
| hp & lease commitments | 1,130 | 18,660 | ||||||||||||
| other current liabilities | 3,628,411 | 3,374,438 | 3,907,804 | 3,340,047 | 2,857,799 | 2,226,273 | 1,517,751 | 295,234 | ||||||
| total current liabilities | 4,977,566 | 4,519,433 | 4,789,238 | 4,221,480 | 3,533,125 | 2,892,876 | 2,164,473 | 629,206 | 824,012 | 947,306 | 1,134,391 | 1,168,604 | 961,417 | 828,056 |
| loans | ||||||||||||||
| hp & lease commitments | ||||||||||||||
| Accruals and Deferred Income | ||||||||||||||
| other liabilities | 29,872 | 57,187 | 25,513 | 110,389 | 21,012 | 21,894 | ||||||||
| provisions | 41,194 | 182,891 | 211,851 | 175,568 | 46,291 | 46,291 | 17,835 | 17,835 | 22,553 | 27,308 | 16,523 | 16,185 | 12,253 | 1,769 |
| total long term liabilities | 41,194 | 182,891 | 211,851 | 175,568 | 46,291 | 46,291 | 17,835 | 17,835 | 52,425 | 84,495 | 42,036 | 126,574 | 33,265 | 23,663 |
| total liabilities | 5,018,760 | 4,702,324 | 5,001,089 | 4,397,048 | 3,579,416 | 2,939,167 | 2,182,308 | 647,041 | 876,437 | 1,031,801 | 1,176,427 | 1,295,178 | 994,682 | 851,719 |
| net assets | 3,594,742 | 3,202,375 | 3,598,956 | 2,164,771 | 935,736 | 166,983 | 124,570 | 121,947 | 118,635 | 141,345 | 150,537 | 141,902 | 135,363 | 125,838 |
| total shareholders funds | 3,594,742 | 3,202,375 | 3,598,956 | 2,164,771 | 935,736 | 166,983 | 124,570 | 121,947 | 118,635 | 141,345 | 150,537 | 141,902 | 135,363 | 125,838 |
| Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | Mar 2014 | Nov 2012 | Nov 2011 | Nov 2010 | Nov 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||
| Operating Profit | 1,037,969 | 1,408,877 | 2,505,210 | 1,728,965 | ||||||||||
| Depreciation | 674,036 | 575,470 | 216,806 | 147,493 | 84,064 | 47,575 | 60,692 | 99,813 | 46,560 | 47,262 | 34,865 | 27,567 | ||
| Amortisation | 134,993 | |||||||||||||
| Tax | 189,840 | 402,649 | -421,782 | -310,189 | ||||||||||
| Stock | -56,268 | 143,867 | -36,198 | 72,879 | 30,237 | -196,041 | 109,377 | -2,410 | 74,748 | 44,488 | -204,831 | 263,106 | -154,187 | 181,362 |
| Debtors | 1,486,589 | -421,328 | 1,087,744 | 896,277 | 578,327 | 547,318 | 1,069,800 | -166,139 | -224,137 | 894,183 | 144,347 | -111,569 | 265,321 | 730,519 |
| Creditors | 184,123 | 263,561 | 1 | 206,107 | 8,723 | 21,011 | 381,273 | -559,693 | -123,294 | 947,306 | -34,213 | 207,187 | 133,361 | 828,056 |
| Accruals and Deferred Income | 253,973 | -533,366 | 567,757 | 482,248 | 631,526 | 708,522 | 1,222,517 | 295,234 | ||||||
| Deferred Taxes & Provisions | -141,697 | -28,960 | 36,283 | 129,277 | 28,456 | -4,718 | -4,755 | 27,308 | 338 | 3,932 | 10,484 | 1,769 | ||
| Cash flow from operations | 902,916 | 2,211,393 | 1,484,058 | |||||||||||
| Investing Activities | ||||||||||||||
| capital expenditure | ||||||||||||||
| Change in Investments | ||||||||||||||
| cash flow from investments | ||||||||||||||
| Financing Activities | ||||||||||||||
| Bank loans | ||||||||||||||
| Group/Directors Accounts | 20,037 | -50,993 | 50,993 | |||||||||||
| Other Short Term Loans | ||||||||||||||
| Long term loans | ||||||||||||||
| Hire Purchase and Lease Commitments | -1,130 | -17,530 | 18,660 | |||||||||||
| other long term liabilities | -29,872 | -27,315 | 57,187 | -84,876 | 89,377 | -882 | 21,894 | |||||||
| share issue | ||||||||||||||
| interest | 4,558 | 532 | 109 | 3,759 | ||||||||||
| cash flow from financing | 1,393,234 | 532 | 109 | 3,759 | ||||||||||
| cash and cash equivalents | ||||||||||||||
| cash | -1,428,242 | -714,083 | 856,062 | 570,748 | 652,732 | 195,696 | 331,361 | -23,411 | -6,360 | 65,411 | -40,236 | 137,479 | 22,440 | 3,638 |
| overdraft | ||||||||||||||
| change in cash | -1,428,242 | -714,083 | 856,062 | 570,748 | 652,732 | 195,696 | 331,361 | -23,411 | -6,360 | 65,411 | -40,236 | 137,479 | 22,440 | 3,638 |
modern networks limited Credit Report and Business Information
Modern Networks Limited Competitor Analysis
Perform a competitor analysis for modern networks limited by selecting its closest rivals, whether from the INFORMATION AND COMMUNICATION sector, other mid companies, companies in SG4 area or any other competitors across 12 key performance metrics.
modern networks limited Ownership
MODERN NETWORKS LIMITED group structure
Modern Networks Limited has no subsidiary companies.
Ultimate parent company
2 parents
MODERN NETWORKS LIMITED
03881576
modern networks limited directors
Modern Networks Limited currently has 5 directors. The longest serving directors include Mr Matthew Reeve (Jan 2000) and Mr James Tizzard (Apr 2007).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Matthew Reeve | England | 52 years | Jan 2000 | - | Director |
| Mr James Tizzard | England | 49 years | Apr 2007 | - | Director |
| Ms Michelle Van Lelyveld | England | 41 years | Jan 2024 | - | Director |
| Mr Ian Kelly | England | 53 years | Jun 2024 | - | Director |
| Mr Duncan Gooding | England | 53 years | Nov 2024 | - | Director |
P&L
March 2023turnover
15.7m
+9%
operating profit
1m
-26%
gross margin
37%
-6.31%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
March 2023net assets
3.6m
+0.12%
total assets
8.6m
+0.09%
cash
499.9k
-0.74%
net assets
Total assets minus all liabilities
modern networks limited company details
company number
03881576
Type
Private limited with Share Capital
industry
62090 - Other information technology and computer service activities
incorporation date
November 1999
age
26
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
March 2023
previous names
commexchange limited (October 2008)
desired i.t. solutions limited (January 2000)
accountant
-
auditor
COOPER PARRY GROUP LLP
address
unit e2 18 knowl piece, wilbury way, hitchin, hertfordshire, SG4 0TY
Bank
-
Legal Advisor
-
modern networks 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 8 charges/mortgages relating to modern networks limited. Currently there are 4 open charges and 4 have been satisfied in the past.
modern networks 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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modern networks limited Companies House Filings - See Documents
| date | description | view/download |
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