millstream underwriting ltd.

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millstream underwriting ltd. Company Information

Share MILLSTREAM UNDERWRITING LTD.

Company Number

03896220

Directors

Stuart Rouse

Roberto Amati

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Shareholders

mstream limited

Group Structure

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Industry

Activities of insurance agents and brokers

 

Registered Address

52-56 leadenhall street, london, EC3A 2EB

millstream underwriting ltd. Estimated Valuation

£6.4m

Pomanda estimates the enterprise value of MILLSTREAM UNDERWRITING LTD. at £6.4m based on a Turnover of £6m and 1.06x industry multiple (adjusted for size and gross margin).

millstream underwriting ltd. Estimated Valuation

£5m

Pomanda estimates the enterprise value of MILLSTREAM UNDERWRITING LTD. at £5m based on an EBITDA of £846.3k and a 5.92x industry multiple (adjusted for size and gross margin).

millstream underwriting ltd. Estimated Valuation

£0

Pomanda estimates the enterprise value of MILLSTREAM UNDERWRITING LTD. at £0 based on Net Assets of £-1.1m and 1.72x industry multiple (adjusted for liquidity).

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Millstream Underwriting Ltd. Overview

Millstream Underwriting Ltd. is a live company located in london, EC3A 2EB with a Companies House number of 03896220. It operates in the activities of insurance agents and brokers sector, SIC Code 66220. Founded in December 1999, it's largest shareholder is mstream limited with a 100% stake. Millstream Underwriting Ltd. is a mature, mid sized company, Pomanda has estimated its turnover at £6m with high growth in recent years.

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Millstream Underwriting Ltd. Health Check

Pomanda's financial health check has awarded Millstream Underwriting Ltd. a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 2 areas for improvement. Company Health Check FAQs

Health Check Image
Health Rating4.5out of 5
positive_score

5 Strong

positive_score

3 Regular

positive_score

2 Weak

size

Size

annual sales of £6m, make it larger than the average company (£3m)

£6m - Millstream Underwriting Ltd.

£3m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of 17%, show it is growing at a faster rate (6.8%)

17% - Millstream Underwriting Ltd.

6.8% - Industry AVG

production

Production

with a gross margin of 100%, this company has a comparable cost of product (95%)

100% - Millstream Underwriting Ltd.

95% - Industry AVG

profitability

Profitability

an operating margin of 2.8% make it less profitable than the average company (19.6%)

2.8% - Millstream Underwriting Ltd.

19.6% - Industry AVG

employees

Employees

with 19 employees, this is similar to the industry average (19)

19 - Millstream Underwriting Ltd.

19 - Industry AVG

paystructure

Pay Structure

on an average salary of £52.4k, the company has an equivalent pay structure (£52.4k)

£52.4k - Millstream Underwriting Ltd.

£52.4k - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £315.5k, this is more efficient (£126.4k)

£315.5k - Millstream Underwriting Ltd.

£126.4k - Industry AVG

debtordays

Debtor Days

it gets paid by customers after 55 days, this is earlier than average (73 days)

55 days - Millstream Underwriting Ltd.

73 days - Industry AVG

creditordays

Creditor Days

There is insufficient data available for this Key Performance Indicator!

- - Millstream Underwriting Ltd.

- - Industry AVG

stockdays

Stock Days

There is insufficient data available for this Key Performance Indicator!

- - Millstream Underwriting Ltd.

- - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 44 weeks, this is more cash available to meet short term requirements (33 weeks)

44 weeks - Millstream Underwriting Ltd.

33 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 111.5%, this is a higher level of debt than the average (58.1%)

111.5% - Millstream Underwriting Ltd.

58.1% - Industry AVG

MILLSTREAM UNDERWRITING LTD. financials

EXPORTms excel logo

Millstream Underwriting Ltd.'s latest turnover from December 2023 is £6 million and the company has net assets of -£1.1 million. According to their latest financial statements, Millstream Underwriting Ltd. has 19 employees and maintains cash reserves of £3.6 million as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Turnover5,994,7865,581,3524,677,9853,788,4753,617,6182,490,7292,412,9492,191,7121,384,871980,0222,172,3252,242,2441,148,3474,356,886
Other Income Or Grants
Cost Of Sales590,323747,029326,9721,162,020
Gross Profit5,994,7865,581,3524,677,9853,788,4753,617,6182,490,7292,412,9492,191,7121,384,871980,0221,582,0021,495,215821,3763,194,866
Admin Expenses5,827,6115,340,9434,130,0772,832,4383,108,5372,643,4762,210,3481,912,790983,278855,2391,535,9841,224,7351,619,6523,001,537
Operating Profit167,175240,409547,908956,037509,081-152,747202,601278,922401,593124,78346,018270,480-798,276193,329
Interest Payable677,651397,156353,038284,6932,925
Interest Receivable57,978585111396,9007,0201,3151,5641,0163,3555,0305,3594,5035,631
Pre-Tax Profit225,153-436,657150,763603,138231,288-145,727203,916280,486402,609128,13851,048275,838-793,773198,960
Tax106,088-108,9745,093-48,629-59,845-86,346-29,182-11,741-66,201-55,709
Profit After Tax225,153-436,657150,763709,226122,314-140,634155,287220,641316,26398,95639,307209,637-793,773143,251
Dividends Paid1,250,000750,000600,000299,050
Retained Profit-1,024,847-1,186,657150,763709,226122,314-140,634-444,713220,641316,263-200,09439,307209,637-793,773143,251
Employee Costs995,327942,997911,601601,477581,630667,416545,176535,480639,244548,0761,026,4961,010,002516,5782,063,651
Number Of Employees19191812121412129925251352
EBITDA*846,268861,6601,134,6621,275,545697,563-91,983262,833330,802435,936146,59158,720291,459-792,619193,329813

* Earnings Before Interest, Tax, Depreciation and Amortisation

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Tangible Assets5754,9939,2636,0911,0236,70820,07021,95828,63431,7797,34911,510
Intangible Assets3,116,6923,397,7083,693,4063,284,9591,241,88291,71759,27625,73829,12031,9076,95930,64117,579
Investments & Other
Debtors (Due After 1 year)
Total Fixed Assets3,117,2673,402,7013,702,6693,291,0501,241,88292,74065,98445,80851,07860,54138,73837,99029,089
Stock & work in progress
Trade Debtors914,477971,104994,804338,15311,52998,568114,00296,42663,823590,318578,343297,0151,295,269208,878
Group Debtors1,077,1431,092,588414,848344,562105,099262,989495,998769,275358,267
Misc Debtors730,517912,985671,037685,282293,351508,586137,50970,94549,11147,015
Cash3,614,0405,022,9964,100,5623,695,6073,361,1961,232,5292,142,2531,934,9131,119,242981,860832,4441,179,701963,751837,5071,414,878
misc current assets
total current assets6,336,1777,999,6736,181,2515,063,6043,759,6471,742,6442,641,3192,615,8582,034,0541,450,9651,422,7621,758,0441,260,7662,132,7761,623,756
total assets9,453,44411,402,3749,883,9208,354,6545,001,5291,835,3842,707,3032,661,6662,085,1321,511,5061,461,5001,796,0341,289,8552,132,7761,623,756
Bank overdraft
Bank loan
Trade Creditors 3,441,1404,940,9044,130,2683,287,2382,583,000853,3281,857,1161,639,2821,086,622870,3351,072,9561,451,7091,153,1781,205,472839,703
Group/Directors Accounts313,735313,7352,672,2441,605,8221,107,960586,665313,37634,307278,974224,449
other short term finances
hp & lease commitments
other current liabilities433,944312,254293,021215,786462,414271,453262,239268,792220,892138,926
total current liabilities4,188,8195,566,8937,095,5335,108,8464,153,3741,711,4462,432,7311,942,3811,586,4881,233,7101,072,9561,451,7091,153,1781,205,472839,703
loans5,200,0004,400,00090,000
hp & lease commitments
Accruals and Deferred Income1,670,2102,284,410
other liabilities
provisions1,149,1401,495,149599,69510,00010,00010,00015,41516,06911,15713,14610,00010,000
total long term liabilities6,349,1405,895,1491,670,2102,284,410599,69510,00010,00010,000105,41516,06911,15713,14610,00010,000
total liabilities10,537,95911,462,0428,765,7437,393,2564,753,0691,711,4462,442,7311,952,3811,596,4881,339,1251,089,0251,462,8661,166,3241,215,472849,703
net assets-1,084,515-59,6681,118,177961,398248,460123,938264,572709,285488,644172,381372,475333,168123,531917,304774,053
total shareholders funds-1,084,515-59,6681,118,177961,398248,460123,938264,572709,285488,644172,381372,475333,168123,531917,304774,053
Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Operating Activities
Operating Profit167,175240,409547,908956,037509,081-152,747202,601278,922401,593124,78346,018270,480-798,276193,329
Depreciation4,4184,6384,4873761,0235,68513,36014,14510,95610,59112,7025,4674,446813
Amortisation674,675616,613582,267319,132187,45955,07946,87237,73523,38711,21715,5121,211
Tax106,088-108,9745,093-48,629-59,845-86,346-29,182-11,741-66,201-55,709
Stock
Debtors-254,540895,988712,692969,546-111,66411,049-181,879-233,867445,707-121,21311,975281,328-998,2541,086,391208,878
Creditors-1,499,764810,636843,030704,2381,729,672-1,003,788217,834552,660216,287-202,621-378,753298,531-52,294365,769839,703
Accruals and Deferred Income121,690-1,650,977-536,9652,037,782190,9619,214-6,55347,90081,966138,926
Deferred Taxes & Provisions-346,0091,495,149-599,695599,695-10,000-5,415-6544,912-1,9893,14610,000
Cash flow from operations-623,275620,480728,0352,554,4123,220,581-1,102,513607,3641,105,384196,721174,273-338,837240,472156,487-583,002641,638
Investing Activities
capital expenditure-393,659-321,283-998,373-2,368,676-1,337,624-87,520-80,408-46,610-24,880-43,611-13,450-29,880-34,746-813
Change in Investments
cash flow from investments-393,659-321,283-998,373-2,368,676-1,337,624-87,520-80,408-46,610-24,880-43,611-13,450-29,880-34,746-813
Financing Activities
Bank loans
Group/Directors Accounts-2,358,5091,066,422497,862521,295273,289279,069-244,66754,525224,449
Other Short Term Loans
Long term loans800,0004,400,000-90,00090,000
Hire Purchase and Lease Commitments
other long term liabilities
share issue8,8126,0163,7122,208774,053
interest57,978-677,066-397,145-352,899-277,7937,0201,3151,5641,0164305,0305,3594,5035,631
cash flow from financing857,9781,373,237675,293148,675245,710280,309280,384-243,103-34,459314,8795,0305,3594,5035,631774,053
cash and cash equivalents
cash-1,408,956922,434404,955334,4112,128,667-909,724207,340815,671137,382149,416-347,257215,950126,244-577,3711,414,878
overdraft
change in cash-1,408,956922,434404,955334,4112,128,667-909,724207,340815,671137,382149,416-347,257215,950126,244-577,3711,414,878

millstream underwriting ltd. 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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Millstream Underwriting Ltd. Competitor Analysis

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Perform a competitor analysis for millstream underwriting ltd. by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other mid companies, companies in EC3A area or any other competitors across 12 key performance metrics.

millstream underwriting ltd. Ownership

MILLSTREAM UNDERWRITING LTD. group structure

Millstream Underwriting Ltd. has no subsidiary companies.

Ultimate parent company

BROWN & BROWN INC

#0068417

2 parents

MILLSTREAM UNDERWRITING LTD.

03896220

MILLSTREAM UNDERWRITING LTD. Shareholders

mstream limited 100%

millstream underwriting ltd. directors

Millstream Underwriting Ltd. currently has 3 directors. The longest serving directors include Mr Stuart Rouse (Dec 2015) and Mr Roberto Amati (Mar 2019).

officercountryagestartendrole
Mr Stuart RouseUnited Kingdom53 years Dec 2015- Director
Mr Roberto AmatiEngland43 years Mar 2019- Director
Mr Richard MarriageUnited Kingdom50 years Jun 2023- Director

P&L

December 2023

turnover

6m

+7%

operating profit

167.2k

-30%

gross margin

100%

0%

turnover

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

Balance Sheet

December 2023

net assets

-1.1m

+17.18%

total assets

9.5m

-0.17%

cash

3.6m

-0.28%

net assets

Total assets minus all liabilities

millstream underwriting ltd. company details

company number

03896220

Type

Private limited with Share Capital

industry

66220 - Activities of insurance agents and brokers

incorporation date

December 1999

age

26

incorporated

UK

ultimate parent company

BROWN & BROWN INC

accounts

Small Company

last accounts submitted

December 2023

previous names

N/A

accountant

-

auditor

BDO LLP

address

52-56 leadenhall street, london, EC3A 2EB

Bank

BARCLAYS BANK PLC

Legal Advisor

-

millstream underwriting ltd. 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 6 charges/mortgages relating to millstream underwriting ltd.. Currently there are 0 open charges and 6 have been satisfied in the past.

millstream underwriting ltd. 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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millstream underwriting ltd. Companies House Filings - See Documents

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