The Funding Corporation Limited

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the funding corporation limited Company Information

Live

MatureMidHealthy

Company Number

04055624

Website

http://www.smfmotor.com

Registered Address

the gate international drive, solihull, west midlands, B90 4WA

Industry

Credit granting by non-deposit taking finance houses and other specialist consumer credit grantors

Telephone

01244200746

Next Accounts Due

September 2025

Group Structure

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Directors

Patrick Hanlon4 Years

Simon Bayley3 Years

Shareholders

img (uk) holdings limited 99.9%

david john titmuss 0.1%

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the funding corporation limited Estimated Valuation

£27.8m

Pomanda estimates the enterprise value of THE FUNDING CORPORATION LIMITED at £27.8m based on a Turnover of £10.3m and 2.69x industry multiple (adjusted for size and gross margin).

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The Funding Corporation Limited is a live company located in west midlands, B90 4WA with a Companies House number of 04055624. It operates in the credit granting by non-deposit taking finance houses and other specialist consumer credit grantors sector, SIC Code 64921. Founded in August 2000, it's largest shareholder is img (uk) holdings limited with a 99.9% stake. The Funding Corporation Limited is a mature, mid sized company, Pomanda has estimated its turnover at £10.3m with healthy growth in recent years.

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Pomanda's financial health check has awarded The Funding Corporation Limited a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 3 areas for improvement. Company Health Check FAQs

Health Rating4.5out of 5

7 Strong

0 Regular

3 Weak

Size

annual sales of £10.3m, make it larger than the average company (£7.3m)

Growth

3 year (CAGR) sales growth of 13%, show it is growing at a faster rate (6.6%)

EXPORT

The Funding Corporation Limited's latest turnover from December 2023 is £10.3 million and the company has net assets of £11.8 million. According to their latest financial statements, The Funding Corporation Limited has 116 employees and maintains cash reserves of £3.3 million as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Dec 2023	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	10,344,565	9,597,005	8,622,083	7,235,543	6,301,828	6,000,412	3,884,219	6,109,069	9,054,091	19,132,461	30,974,403	36,471,160	44,581,092	54,965,485	56,694,282
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	-1,015,422	-439,719	-542,287	-549,160	-1,178,375	-970,455	-2,708,832	-598,356	-351,558	8,113,660	26,994,615	22,029,993	26,705,485	38,670,555	45,215,083
Gross Profit	11,359,987	10,036,724	9,164,370	7,784,703	7,480,203	6,970,867	6,593,051	6,707,425	9,405,649	11,018,801	3,979,788	14,441,167	17,875,607	16,294,930	11,479,199
Admin Expenses	10,928,097	9,915,966	8,836,767	7,462,057	6,782,515	6,081,790	4,595,872	4,660,627	4,142,506	8,454,316	7,210,252	7,215,725	9,894,970	12,177,406	11,674,889
Operating Profit	431,890	120,758	327,603	322,646	697,688	889,077	1,997,179	2,046,798	5,263,143	2,564,485	-3,230,464	7,225,442	7,980,637	4,117,524	-195,690
Interest Payable	0	28,858	26,788	33,169	64,574	92,993	275,277	2,176,323	2,851,494	1,231,181	1,115,367	1,194,253	1,145,437	1,175,413	1,381,519
Interest Receivable	340,765	148,339	66,000	69,005	60,748	1,726	0	0	4,408	4,630	827	0	0	1,577	9,953
Pre-Tax Profit	772,655	240,239	364,099	358,482	693,862	797,810	1,721,902	-129,525	2,416,057	1,337,934	-4,345,004	6,031,189	6,835,200	2,943,688	-1,567,256
Tax	-184,431	-54,006	-16,442	-45,785	-198,556	-105,776	-304,880	-397,947	-986,914	-349,186	1,025,646	-1,990,530	-1,891,827	-1,071,910	548,680
Profit After Tax	588,224	186,233	347,657	312,697	495,306	692,034	1,417,022	-527,472	1,429,143	988,748	-3,319,358	4,040,659	4,943,373	1,871,778	-1,018,576
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	588,224	186,233	347,657	312,697	495,306	692,034	1,417,022	-527,472	1,429,143	988,748	-3,319,358	4,040,659	4,943,373	1,871,778	-1,018,576
Employee Costs	4,982,293	4,734,456	4,227,832	3,792,040	3,368,578	2,916,807	2,390,966	1,841,746	1,851,645	4,507,412	5,238,760	5,831,279	6,657,400	7,617,436	7,160,239
Number Of Employees	116	106	100	95	85	75	61	55	56	134	177	202	234	253	254
EBITDA*	638,145	354,380	599,672	588,323	938,429	1,113,875	2,244,539	2,414,191	5,734,853	3,128,996	-2,693,117	7,756,625	8,398,832	4,656,676	1,073,326

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2023	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	390,905	299,681	307,945	400,796	361,531	472,000	398,224	342,162	496,877	854,474	1,483,883	903,055	709,852	736,117	1,390,528
Intangible Assets	50,675	192,294	315,158	347,230	360,370	0	0	0	0	0	0	0	144,202	216,300	288,398
Investments & Other	596,626	853,294	1,199,880	1,697,308	2,525,926	3,445,809	4,967,274	8,196,121	15,221,935	25,065,472	0	0	0	0	0
Debtors (Due After 1 year)	149,940	199,236	217,386	0	3,992	8,194	200	938	6,325	0	35,973,260	47,469,597	59,716,050	60,330,010	76,314,020
Total Fixed Assets	1,188,146	1,544,505	2,040,369	2,445,334	3,251,819	3,926,003	5,365,698	8,539,221	15,725,137	25,919,946	37,457,143	48,372,652	60,570,104	61,282,427	77,992,946
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	1,690,443	2,111,388	2,448,967	2,660,372	2,042,726
Trade Debtors	0	0	0	0	0	0	0	0	0	0	14,623,808	16,733,263	18,946,836	30,646,906	29,861,336
Group Debtors	7,709,021	7,606,004	7,912,122	7,044,110	6,649,781	3,243,451	104,513	250,000	58,416	0	0	0	0	7	15,205
Misc Debtors	1,120,640	819,329	685,722	853,767	333,290	667,558	879,012	1,026,728	1,415,124	446,719	2,629,833	731,054	2,554,757	3,371,014	7,493,948
Cash	3,323,459	2,845,604	1,530,701	1,295,395	1,325,445	3,164,165	4,126,877	1,589,079	4,233,120	9,734,379	306,413	308,462	479,522	209,161	367,296
misc current assets	638,180	598,529	650,250	785,158	732,732	1,368,489	2,975,158	5,644,038	9,112,636	12,531,724	0	0	0	0	4,541,614
total current assets	12,791,300	11,869,466	10,778,795	9,978,430	9,041,248	8,443,663	8,085,560	8,509,845	14,819,296	22,712,822	19,250,497	19,884,167	24,430,082	36,887,460	44,322,125
total assets	13,979,446	13,413,971	12,819,164	12,423,764	12,293,067	12,369,666	13,451,258	17,049,066	30,544,433	48,632,768	56,707,640	68,256,819	85,000,186	98,169,887	122,315,071
Bank overdraft	0	0	0	0	0	0	0	0	0	0	378	814	413,080	677,599	69,234
Bank loan	0	0	0	0	0	0	0	0	0	0	0	22,900,000	43,100,000	60,700,000	0
Trade Creditors	539,578	8,539	10,952	21,115	23,665	47,695	145,016	51,033	127,034	118,721	524,194	227,822	355,512	629,304	899,441
Group/Directors Accounts	0	0	3,989	0	0	0	2,008,845	4,865,549	1,916,968	23,047,744	24,124,060	24,237,287	24,360,819	23,805,808	25,059,735
other short term finances	0	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	116,429	105,844	0	0	0
other current liabilities	1,606,706	1,809,449	1,424,512	1,395,868	1,119,174	2,491,243	2,158,703	4,410,812	6,779,210	10,678,357	1,848,608	4,792,014	5,611,329	6,519,528	3,105,809
total current liabilities	2,146,284	1,817,988	1,439,453	1,416,983	1,142,839	2,538,938	4,312,564	9,327,394	8,823,212	33,844,822	26,613,669	52,263,781	73,840,740	92,332,239	29,134,219
loans	0	0	0	0	0	0	0	0	13,472,077	7,967,945	13,515,949	22,460,780	21,819,656	21,210,851	110,644,062
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	116,429	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
provisions	72,317	423,362	393,323	368,050	824,194	0	0	0	0	0	11,636,551	155,000	119,620	350,000	131,771
total long term liabilities	72,317	423,362	393,323	368,050	824,194	0	0	0	13,472,077	7,967,945	25,152,500	22,732,209	21,939,276	21,560,851	110,775,833
total liabilities	2,218,601	2,241,350	1,832,776	1,785,033	1,967,033	2,538,938	4,312,564	9,327,394	22,295,289	41,812,767	51,766,169	74,995,990	95,780,016	113,893,090	139,910,052
net assets	11,760,845	11,172,621	10,986,388	10,638,731	10,326,034	9,830,728	9,138,694	7,721,672	8,249,144	6,820,001	4,941,471	-6,739,171	-10,779,830	-15,723,203	-17,594,981
total shareholders funds	11,760,845	11,172,621	10,986,388	10,638,731	10,326,034	9,830,728	9,138,694	7,721,672	8,249,144	6,820,001	4,941,471	-6,739,171	-10,779,830	-15,723,203	-17,594,981

	Dec 2023	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	431,890	120,758	327,603	322,646	697,688	889,077	1,997,179	2,046,798	5,263,143	2,564,485	-3,230,464	7,225,442	7,980,637	4,117,524	-195,690
Depreciation	37,849	42,812	138,014	131,622	217,264	224,798	247,360	367,393	471,710	564,511	537,347	386,981	346,097	467,054	1,092,069
Amortisation	168,406	190,810	134,055	134,055	23,477	0	0	0	0	0	0	144,202	72,098	72,098	176,947
Tax	-184,431	-54,006	-16,442	-45,785	-198,556	-105,776	-304,880	-397,947	-986,914	-349,186	1,025,646	-1,990,530	-1,891,827	-1,071,910	548,680
Stock	0	0	0	0	0	0	0	0	0	-1,690,443	-420,945	-337,579	-211,405	617,646	2,042,726
Debtors	355,032	-190,661	917,353	910,814	3,067,860	2,935,478	-293,941	-202,199	1,033,146	-52,780,182	-11,707,013	-16,283,729	-13,130,294	-19,336,572	113,684,509
Creditors	531,039	-2,413	-10,163	-2,550	-24,030	-97,321	93,983	-76,001	8,313	-405,473	296,372	-127,690	-273,792	-270,137	899,441
Accruals and Deferred Income	-202,743	384,937	28,644	276,694	-1,372,069	332,540	-2,252,109	-2,368,398	-3,899,147	8,829,749	-2,943,406	-819,315	-908,199	3,413,719	3,105,809
Deferred Taxes & Provisions	-351,045	30,039	25,273	-456,144	824,194	0	0	0	0	-11,636,551	11,481,551	35,380	-230,380	218,229	131,771
Cash flow from operations	75,933	903,598	-290,369	-550,276	-2,899,892	-1,692,160	75,474	-225,956	-176,041	54,038,160	19,295,004	21,475,778	18,436,333	25,665,503	-109,968,208
Investing Activities
capital expenditure	0	0	0	0	0	-298,574	-303,422	-212,678	-114,113	64,898	-1,118,175	-580,184	-319,832	187,357	-2,947,942
Change in Investments	-256,668	-346,586	-497,428	-828,618	-919,883	-1,521,465	-3,228,847	-7,025,814	-9,843,537	25,065,472	0	0	0	0	0
cash flow from investments	256,668	346,586	497,428	828,618	919,883	1,222,891	2,925,425	6,813,136	9,729,424	-25,000,574	-1,118,175	-580,184	-319,832	187,357	-2,947,942
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	-22,900,000	-20,200,000	-17,600,000	60,700,000	0
Group/Directors Accounts	0	-3,989	3,989	0	0	-2,008,845	-2,856,704	2,948,581	-21,130,776	-1,076,316	-113,227	-123,532	555,011	-1,253,927	25,059,735
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	0	0	0	0	0	0	0	-13,472,077	5,504,132	-5,548,004	-8,944,831	641,124	608,805	-89,433,211	110,644,062
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	-116,429	-105,844	222,273	0	0	0
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	0	0	0	0	0	0	0	0	0	889,782	15,000,000	0	0	0	-16,576,405
interest	340,765	119,481	39,212	35,836	-3,826	-91,267	-275,277	-2,176,323	-2,847,086	-1,226,551	-1,114,540	-1,194,253	-1,145,437	-1,173,836	-1,371,566
cash flow from financing	340,765	115,492	43,201	35,836	-3,826	-2,100,112	-3,131,981	-12,699,819	-18,473,730	-7,077,518	-18,178,442	-20,654,388	-17,581,621	-31,160,974	117,755,826
cash and cash equivalents
cash	477,855	1,314,903	235,306	-30,050	-1,838,720	-962,712	2,537,798	-2,644,041	-5,501,259	9,427,966	-2,049	-171,060	270,361	-158,135	367,296
overdraft	0	0	0	0	0	0	0	0	0	-378	-436	-412,266	-264,519	608,365	69,234
change in cash	477,855	1,314,903	235,306	-30,050	-1,838,720	-962,712	2,537,798	-2,644,041	-5,501,259	9,428,344	-1,613	241,206	534,880	-766,500	298,062

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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THE FUNDING CORPORATION LIMITED group structure

The Funding Corporation Limited has 6 subsidiary companies.

Ultimate parent company

IMG UK HOLDINGS LTD

#0159418

1 parent

THE FUNDING CORPORATION LIMITED

04055624

6 subsidiaries

CYGNET FINANCIAL SERVICES LIMITED

04757281

THE FUNDING CORPORATION (2) LIMITED

04757277

THE FUNDING CORPORATION (1) LIMITED

04189928

COUNTY LEASING & FINANCE LIMITED

01704103

ACF CAR FINANCE LIMITED

04757280

TFC REALISATIONS LIMITED

15777296

THE FUNDING CORPORATION LIMITED Shareholders

img (uk) holdings limited	99.88%
david john titmuss	0.06%
nova general partner (guernsey) ltd	0.03%
david john challinor	0.02%
gerald grimes	0%

The Funding Corporation Limited currently has 2 directors. The longest serving directors include Mr Patrick Hanlon (Oct 2020) and Mr Simon Bayley (Jul 2021).

officer	country	age	start	end	role
Mr Patrick Hanlon	England	63 years	Oct 2020	-	Director
Mr Simon Bayley	England	52 years	Jul 2021	-	Director

P&L

December 2023

turnover

10.3m

+8%

operating profit

431.9k

+258%

gross margin

109.9%

+5%

turnover

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

Balance Sheet

December 2023

net assets

11.8m

+0.05%

total assets

14m

+0.04%

cash

3.3m

+0.17%

net assets

Total assets minus all liabilities

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company number

04055624

Type

Private limited with Share Capital

industry

64921 - Credit granting by non-deposit taking finance houses and other specialist consumer credit grantors

incorporation date

August 2000

ultimate parent company

IMG UK HOLDINGS LTD

previous names

N/A

address

the gate international drive, solihull, west midlands, B90 4WA

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 16 charges/mortgages relating to the funding corporation limited. Currently there are 4 open charges and 12 have been satisfied in the past.

the funding corporation limited Company Information

the funding corporation limited Estimated Valuation

the funding corporation limited Estimated Valuation

the funding corporation limited Estimated Valuation

The Funding Corporation Limited Overview

The Funding Corporation Limited Health Check

THE FUNDING CORPORATION LIMITED financials

the funding corporation limited Credit Report and Business Information

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