Hi-spec Engineering Limited

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hi-spec engineering limited Company Information

Live

MatureMicroDeclining

Company Number

03901142

Website

http://hi-spec-eng.com

Registered Address

unit 9, windmill industrial estate, windmill fowey, cornwall, PL23 1HB

Industry

Engineering related scientific and technical consulting activities

Telephone

01726833844

Next Accounts Due

June 2024

Group Structure

View All

Directors

Glenn Cooke22 Years

Rhianna Cooke11 Years

View All

Shareholders

rhianna cooke 50%

glenn edward cooke 50%

hi-spec engineering limited Estimated Valuation

£552.1k

Pomanda estimates the enterprise value of HI-SPEC ENGINEERING LIMITED at £552.1k based on Net Assets of £197.2k and 2.8x industry multiple (adjusted for liquidity).

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Hi-spec Engineering Limited is a live company located in windmill fowey, PL23 1HB with a Companies House number of 03901142. It operates in the engineering related scientific and technical consulting activities sector, SIC Code 71122. Founded in December 1999, it's largest shareholder is rhianna cooke with a 50% stake. Hi-spec Engineering Limited is a mature, micro sized company, Pomanda has estimated its turnover at £288.2k with declining growth in recent years.

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Pomanda's financial health check has awarded Hi-Spec Engineering Limited a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 5 areas for improvement. Company Health Check FAQs

Health Rating4.5out of 5

4 Strong

3 Regular

5 Weak

Size

annual sales of £288.2k, make it smaller than the average company (£688.8k)

Growth

3 year (CAGR) sales growth of -3%, show it is growing at a slower rate (2.9%)

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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HI-SPEC ENGINEERING LIMITED group structure

Hi-Spec Engineering Limited has no subsidiary companies.

Ultimate parent company

HI-SPEC ENGINEERING LIMITED

03901142

HI-SPEC ENGINEERING LIMITED Shareholders

rhianna cooke	50%
glenn edward cooke	50%

Hi-Spec Engineering Limited currently has 3 directors. The longest serving directors include Mr Glenn Cooke (May 2001) and Mrs Rhianna Cooke (Jan 2013).

officer	country	age	start	end	role
Mr Glenn Cooke		42 years	May 2001	-	Director
Mrs Rhianna Cooke	United Kingdom	41 years	Jan 2013	-	Director
Mr Philipp Mathar		43 years	May 2013	-	Director

EXPORT

Hi-Spec Engineering Limited's latest turnover from September 2022 is estimated at £288.2 thousand and the company has net assets of £197.2 thousand. According to their latest financial statements, Hi-Spec Engineering Limited has 6 employees and maintains cash reserves of £208.6 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Sep 2022	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Sep 2017	Sep 2016	Sep 2015	Sep 2014	Sep 2013	Sep 2012	Sep 2011	Sep 2010	Sep 2009
Turnover	288,163	252,319	292,639	316,958	325,630	289,140	284,460	160,292	120,320	183,414	106,444	97,377	127,619	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	221,535	197,105	228,144	241,732	249,855	211,870	201,724	121,540	86,339	134,666	80,078	71,526	86,875	0
Gross Profit	66,628	55,214	64,495	75,226	75,775	77,270	82,735	38,752	33,981	48,748	26,366	25,852	40,744	0
Admin Expenses	35,014	40,365	76,037	110,521	73,557	37,986	23,293	-28,408	8,359	31,787	14,856	26,208	37,218	-30,095
Operating Profit	31,614	14,849	-11,542	-35,295	2,218	39,284	59,442	67,160	25,622	16,961	11,510	-356	3,526	30,095
Interest Payable	0	178	178	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	4,159	145	101	735	877	259	253	342	87	29	23	4	28	28
Pre-Tax Profit	35,773	14,816	-11,619	-34,560	3,095	39,543	59,695	67,503	25,709	16,991	11,533	-352	3,554	30,124
Tax	-6,797	-2,815	0	0	-588	-7,513	-11,939	-13,500	-5,399	-3,908	-2,768	0	-995	-8,435
Profit After Tax	28,976	12,001	-11,619	-34,560	2,507	32,030	47,756	54,002	20,310	13,083	8,765	-352	2,559	21,689
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	28,976	12,001	-11,619	-34,560	2,507	32,030	47,756	54,002	20,310	13,083	8,765	-352	2,559	21,689
Employee Costs	307,344	299,449	276,120	244,323	246,743	240,209	242,828	48,053	49,182	92,684	45,301	44,353	42,308	0
Number Of Employees	6	6	6	5	5	5	5	1	1	2	1	1	1	0
EBITDA*	33,820	17,686	-8,619	-32,947	5,268	41,896	62,572	68,168	33,035	22,363	15,426	2,112	7,407	35,278

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Sep 2022	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Sep 2017	Sep 2016	Sep 2015	Sep 2014	Sep 2013	Sep 2012	Sep 2011	Sep 2010	Sep 2009
Tangible Assets	20,727	9,075	11,912	9,533	11,514	9,844	10,736	4,338	14,656	13,911	10,758	7,299	9,767	13,649
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	20,727	9,075	11,912	9,533	11,514	9,844	10,736	4,338	14,656	13,911	10,758	7,299	9,767	13,649
Stock & work in progress	30,000	20,000	15,000	26,000	37,910	35,000	25,000	13,500	13,500	10,000	10,000	10,000	10,000	3,000
Trade Debtors	61,814	73,228	97,023	120,983	110,794	105,232	93,013	51,643	37,928	57,871	32,263	29,340	37,513	35,076
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	208,575	161,085	128,915	73,760	122,137	111,618	95,836	106,260	30,572	4,226	7,564	1,691	0	11,267
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	300,389	254,313	240,938	220,743	270,841	251,850	213,849	171,403	82,000	72,097	49,827	41,031	47,513	49,343
total assets	321,116	263,388	252,850	230,276	282,355	261,694	224,585	175,741	96,656	86,008	60,585	48,330	57,280	62,992
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	95,757	57,237	49,839	62,020	79,272	61,570	56,458	55,256	28,326	38,360	26,843	20,510	32,717	30,584
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current liabilities	95,757	57,237	49,839	62,020	79,272	61,570	56,458	55,256	28,326	38,360	26,843	20,510	32,717	30,584
loans	0	0	5,833	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	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	27,460	37,290	40,000	0	0	0	0	0	0	0	0	3,787	0	10,023
provisions	652	590	908	367	634	182	215	329	2,275	1,903	1,080	136	314	695
total long term liabilities	28,112	37,880	46,741	367	634	182	215	329	2,275	1,903	1,080	3,923	314	10,718
total liabilities	123,869	95,117	96,580	62,387	79,906	61,752	56,673	55,585	30,601	40,263	27,923	24,433	33,031	41,302
net assets	197,247	168,271	156,270	167,889	202,449	199,942	167,912	120,156	66,055	45,745	32,662	23,897	24,249	21,690
total shareholders funds	197,247	168,271	156,270	167,889	202,449	199,942	167,912	120,156	66,055	45,745	32,662	23,897	24,249	21,690

	Sep 2022	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Sep 2017	Sep 2016	Sep 2015	Sep 2014	Sep 2013	Sep 2012	Sep 2011	Sep 2010	Sep 2009
Operating Activities
Operating Profit	31,614	14,849	-11,542	-35,295	2,218	39,284	59,442	67,160	25,622	16,961	11,510	-356	3,526	30,095
Depreciation	2,206	2,837	2,923	2,348	3,050	2,612	3,130	1,008	7,413	5,402	3,916	2,468	3,881	5,183
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-6,797	-2,815	0	0	-588	-7,513	-11,939	-13,500	-5,399	-3,908	-2,768	0	-995	-8,435
Stock	10,000	5,000	-11,000	-11,910	2,910	10,000	11,500	0	3,500	0	0	0	7,000	3,000
Debtors	-11,414	-23,795	-23,960	10,189	5,562	12,219	41,370	13,715	-19,943	25,608	2,923	-8,173	2,437	35,076
Creditors	38,520	7,398	-12,181	-17,252	17,702	5,112	1,202	26,930	-10,034	11,517	6,333	-12,207	2,133	30,584
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Taxes & Provisions	62	-318	541	-267	452	-33	-114	-1,946	372	823	944	-178	-381	695
Cash flow from operations	67,019	40,746	14,701	-48,745	14,362	17,243	-1,149	65,937	34,417	5,187	17,012	-2,100	-1,273	20,046
Investing Activities
capital expenditure	-13,858	0	-5,302	-367	-4,720	-1,720	-9,528	9,310	-8,158	-8,555	-7,375	0	1	-18,832
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-13,858	0	-5,302	-367	-4,720	-1,720	-9,528	9,310	-8,158	-8,555	-7,375	0	1	-18,832
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	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	-5,833	5,833	0	0	0	0	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	-9,830	-2,710	40,000	0	0	0	0	0	0	0	-3,787	3,787	-10,023	10,023
share issue	0	0	0	0	0	0	0	99	0	0	0	0	0	1
interest	4,159	-33	-77	735	877	259	253	342	87	29	23	4	28	28
cash flow from financing	-5,671	-8,576	45,756	735	877	259	253	441	87	29	-3,764	3,791	-9,995	10,052
cash and cash equivalents
cash	47,490	32,170	55,155	-48,377	10,519	15,782	-10,424	75,688	26,346	-3,338	5,873	1,691	-11,267	11,267
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	47,490	32,170	55,155	-48,377	10,519	15,782	-10,424	75,688	26,346	-3,338	5,873	1,691	-11,267	11,267

P&L

September 2022

turnover

288.2k

+14%

operating profit

31.6k

gross margin

23.2%

+5.66%

turnover

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

Balance Sheet

September 2022

net assets

197.2k

+0.17%

total assets

321.1k

+0.22%

cash

208.6k

+0.29%

net assets

Total assets minus all liabilities

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company number

03901142

Type

Private limited with Share Capital

industry

71122 - Engineering related scientific and technical consulting activities

incorporation date

December 1999

age

accounts

Unaudited Abridged

ultimate parent company

None

previous names

hi-spec composite engineering limited (July 2001)

incorporated

address

unit 9, windmill industrial estate, windmill fowey, cornwall, PL23 1HB

last accounts submitted

September 2022

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 did not find charges/mortgages relating to hi-spec engineering limited.

hi-spec engineering limited Company Information

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hi-spec engineering limited Estimated Valuation

hi-spec engineering limited Estimated Valuation

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