midland aerospace limited
midland aerospace limited Company Information
Company Number
04326476
Website
www.midlandaerospace.comRegistered Address
unit 4a, castlewood business park, sutton in ashfield, nottinghamshire, NG17 1BX
Industry
Manufacture of metal structures and parts of structures
Telephone
01773582582
Next Accounts Due
February 2025
Group Structure
View All
Shareholders
calder group ltd 100%
midland aerospace limited Estimated Valuation
Pomanda estimates the enterprise value of MIDLAND AEROSPACE LIMITED at £2.9m based on a Turnover of £5.5m and 0.53x industry multiple (adjusted for size and gross margin).
midland aerospace limited Estimated Valuation
Pomanda estimates the enterprise value of MIDLAND AEROSPACE LIMITED at £970.1k based on an EBITDA of £249k and a 3.9x industry multiple (adjusted for size and gross margin).
midland aerospace limited Estimated Valuation
Pomanda estimates the enterprise value of MIDLAND AEROSPACE LIMITED at £1.4m based on Net Assets of £711k and 1.99x industry multiple (adjusted for liquidity).
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Midland Aerospace Limited Overview
Midland Aerospace Limited is a live company located in sutton in ashfield, NG17 1BX with a Companies House number of 04326476. It operates in the manufacture of metal structures and parts of structures sector, SIC Code 25110. Founded in November 2001, it's largest shareholder is calder group ltd with a 100% stake. Midland Aerospace Limited is a mature, mid sized company, Pomanda has estimated its turnover at £5.5m with declining growth in recent years.
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Midland Aerospace Limited Health Check
Pomanda's financial health check has awarded Midland Aerospace Limited a 1 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 9 areas for improvement. Company Health Check FAQs
1 Strong
2 Regular
9 Weak
Size
annual sales of £5.5m, make it smaller than the average company (£12.9m)
£5.5m - Midland Aerospace Limited
£12.9m - Industry AVG
Growth
3 year (CAGR) sales growth of -7%, show it is growing at a slower rate (7.2%)
-7% - Midland Aerospace Limited
7.2% - Industry AVG
Production
with a gross margin of 18.9%, this company has a higher cost of product (24.2%)
18.9% - Midland Aerospace Limited
24.2% - Industry AVG
Profitability
an operating margin of -2.4% make it less profitable than the average company (6.3%)
-2.4% - Midland Aerospace Limited
6.3% - Industry AVG
Employees
with 63 employees, this is similar to the industry average (75)
63 - Midland Aerospace Limited
75 - Industry AVG
Pay Structure
on an average salary of £39k, the company has an equivalent pay structure (£41.4k)
£39k - Midland Aerospace Limited
£41.4k - Industry AVG
Efficiency
resulting in sales per employee of £87.1k, this is less efficient (£167.4k)
£87.1k - Midland Aerospace Limited
£167.4k - Industry AVG
Debtor Days
it gets paid by customers after 136 days, this is later than average (64 days)
136 days - Midland Aerospace Limited
64 days - Industry AVG
Creditor Days
its suppliers are paid after 65 days, this is slower than average (57 days)
65 days - Midland Aerospace Limited
57 days - Industry AVG
Stock Days
it holds stock equivalent to 96 days, this is more than average (39 days)
96 days - Midland Aerospace Limited
39 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 0 weeks, this is less cash available to meet short term requirements (12 weeks)
0 weeks - Midland Aerospace Limited
12 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 92.8%, this is a higher level of debt than the average (57.6%)
92.8% - Midland Aerospace Limited
57.6% - Industry AVG
MIDLAND AEROSPACE LIMITED financials
Midland Aerospace Limited's latest turnover from May 2023 is £5.5 million and the company has net assets of £711 thousand. According to their latest financial statements, Midland Aerospace Limited has 63 employees and maintains cash reserves of £8 thousand as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| May 2023 | May 2022 | May 2021 | May 2020 | May 2019 | May 2018 | May 2017 | May 2016 | May 2015 | May 2014 | May 2013 | May 2012 | May 2011 | May 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 5,486,000 | 4,007,000 | 2,582,000 | 6,817,000 | 9,476,000 | 8,770,000 | 9,691,000 | 10,012,000 | 8,724,000 | 9,524,000 | 9,484,000 | 6,627,000 | 4,355,000 | 3,964,000 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 4,452,000 | 4,316,000 | 3,625,000 | 6,187,000 | 6,967,000 | 6,785,000 | 7,161,000 | 7,605,000 | 4,965,000 | 5,706,000 | 5,262,000 | 3,700,000 | 2,544,000 | 2,352,000 |
| Gross Profit | 1,034,000 | -309,000 | -1,043,000 | 630,000 | 2,509,000 | 1,985,000 | 2,530,000 | 2,407,000 | 3,759,000 | 3,818,000 | 4,222,000 | 2,927,000 | 1,811,000 | 1,612,000 |
| Admin Expenses | 1,168,000 | 918,000 | 1,328,000 | 1,616,000 | 1,912,000 | 1,625,000 | 1,450,000 | 1,227,000 | 2,552,000 | 2,079,000 | 1,810,000 | 1,568,000 | 1,325,000 | 1,273,000 |
| Operating Profit | -134,000 | -1,227,000 | -2,371,000 | -986,000 | 597,000 | 360,000 | 1,080,000 | 1,180,000 | 1,207,000 | 1,739,000 | 2,412,000 | 1,359,000 | 486,000 | 339,000 |
| Interest Payable | 451,000 | 322,000 | 198,000 | 249,000 | 242,000 | 61,000 | 78,000 | 204,000 | 61,000 | 71,000 | 47,000 | 3,000 | 0 | 6,000 |
| Interest Receivable | 15,000 | 0 | 0 | 205,000 | 0 | 59,000 | 0 | 0 | 251,000 | 53,000 | 43,000 | 0 | 2,000 | 2,000 |
| Pre-Tax Profit | -570,000 | -1,549,000 | -2,569,000 | -1,030,000 | 355,000 | 358,000 | 1,002,000 | 976,000 | 1,397,000 | 1,812,000 | 2,265,000 | 1,356,000 | 488,000 | 335,000 |
| Tax | 204,000 | 72,000 | 702,000 | 118,000 | 58,000 | -113,000 | -55,000 | 349,000 | 51,000 | -294,000 | -225,000 | -449,000 | 79,000 | 50,000 |
| Profit After Tax | -366,000 | -1,477,000 | -1,867,000 | -912,000 | 413,000 | 245,000 | 947,000 | 1,325,000 | 1,448,000 | 1,518,000 | 2,040,000 | 907,000 | 567,000 | 385,000 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 3,000,000 | 0 | 0 | 350,000 | 700,000 | 2,000,000 | 0 | 1,500,000 | 0 |
| Retained Profit | -366,000 | -1,477,000 | -1,867,000 | -912,000 | 413,000 | -2,755,000 | 947,000 | 1,325,000 | 1,098,000 | 818,000 | 40,000 | 907,000 | -933,000 | 385,000 |
| Employee Costs | 2,460,000 | 2,445,000 | 2,345,000 | 3,396,000 | 3,734,000 | 3,645,000 | 3,916,000 | 3,852,000 | 3,243,000 | 3,095,000 | 2,866,000 | 2,134,000 | 1,665,000 | 1,527,000 |
| Number Of Employees | 63 | 69 | 87 | 111 | 117 | 116 | 121 | 123 | 121 | 108 | 108 | 78 | 66 | 66 |
| EBITDA* | 249,000 | -767,000 | -1,804,000 | -355,000 | 1,313,000 | 859,000 | 1,080,000 | 1,594,000 | 1,573,000 | 2,102,000 | 2,677,000 | 1,476,000 | 680,000 | 569,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| May 2023 | May 2022 | May 2021 | May 2020 | May 2019 | May 2018 | May 2017 | May 2016 | May 2015 | May 2014 | May 2013 | May 2012 | May 2011 | May 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 1,988,000 | 2,617,000 | 2,894,000 | 2,524,000 | 2,647,000 | 1,734,000 | 2,058,000 | 1,403,000 | 1,608,000 | 1,418,000 | 1,571,000 | 694,000 | 403,000 | 522,000 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 27,000 | 30,000 | 32,000 |
| Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors (Due After 1 year) | 1,160,000 | 1,003,000 | 931,000 | 207,000 | 91,000 | 0 | 0 | 0 | 0 | 0 | 1,943,000 | 1,570,000 | 718,000 | 1,681,000 |
| Total Fixed Assets | 3,148,000 | 2,617,000 | 2,894,000 | 2,317,000 | 2,647,000 | 1,734,000 | 2,082,000 | 1,427,000 | 1,632,000 | 1,442,000 | 3,538,000 | 2,291,000 | 1,151,000 | 2,235,000 |
| Stock & work in progress | 1,181,000 | 860,000 | 725,000 | 445,000 | 536,000 | 624,000 | 617,000 | 648,000 | 586,000 | 469,000 | 593,000 | 689,000 | 294,000 | 319,000 |
| Trade Debtors | 2,057,000 | 1,110,000 | 944,000 | 1,077,000 | 1,972,000 | 1,979,000 | 1,664,000 | 2,313,000 | 2,153,000 | 2,035,000 | 2,558,000 | 1,941,000 | 1,076,000 | 836,000 |
| Group Debtors | 3,074,000 | 3,241,000 | 3,452,000 | 3,784,000 | 3,985,000 | 3,353,000 | 5,973,000 | 4,049,000 | 3,530,000 | 2,843,000 | 0 | 0 | 0 | 0 |
| Misc Debtors | 355,000 | 706,000 | 246,000 | 130,000 | 99,000 | 186,000 | 233,000 | 253,000 | 260,000 | 184,000 | 243,000 | 139,000 | 187,000 | 145,000 |
| Cash | 8,000 | 29,000 | 16,000 | 184,000 | 37,000 | 172,000 | 51,000 | 419,000 | 80,000 | 154,000 | 76,000 | 276,000 | 448,000 | 366,000 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 140,000 | 311,000 | 44,000 | 0 | 57,000 | 0 | 0 | 0 | 0 |
| total current assets | 6,675,000 | 5,946,000 | 5,383,000 | 5,654,000 | 6,798,000 | 6,454,000 | 8,849,000 | 7,726,000 | 6,609,000 | 5,742,000 | 3,470,000 | 3,045,000 | 2,005,000 | 1,666,000 |
| total assets | 9,823,000 | 8,563,000 | 8,277,000 | 7,971,000 | 9,445,000 | 8,188,000 | 10,931,000 | 9,153,000 | 8,241,000 | 7,184,000 | 7,008,000 | 5,336,000 | 3,156,000 | 3,901,000 |
| Bank overdraft | 0 | 78,000 | 96,000 | 22,000 | 27,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 80,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 803,000 | 1,066,000 | 595,000 | 413,000 | 842,000 | 974,000 | 1,202,000 | 1,175,000 | 1,057,000 | 971,000 | 1,203,000 | 941,000 | 473,000 | 322,000 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other short term finances | 6,258,000 | 4,485,000 | 3,338,000 | 940,000 | 860,000 | 1,108,000 | 888,000 | 419,000 | 506,000 | 423,000 | 986,000 | 0 | 0 | 0 |
| hp & lease commitments | 310,000 | 112,000 | 173,000 | 287,000 | 365,000 | 0 | 0 | 0 | 101,000 | 101,000 | 101,000 | 52,000 | 0 | 32,000 |
| other current liabilities | 324,000 | 634,000 | 251,000 | 707,000 | 559,000 | 789,000 | 636,000 | 818,000 | 1,187,000 | 1,295,000 | 1,040,000 | 840,000 | 274,000 | 191,000 |
| total current liabilities | 7,775,000 | 6,375,000 | 4,453,000 | 2,369,000 | 2,653,000 | 2,871,000 | 2,726,000 | 2,412,000 | 2,851,000 | 2,790,000 | 3,330,000 | 1,833,000 | 747,000 | 545,000 |
| loans | 164,000 | 2,076,000 | 2,400,000 | 2,256,000 | 2,830,000 | 992,000 | 1,322,000 | 288,000 | 236,000 | 440,000 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 1,103,000 | 838,000 | 955,000 | 1,128,000 | 1,415,000 | 496,000 | 661,000 | 144,000 | 118,000 | 220,000 | 322,000 | 187,000 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 0 | 3,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 70,000 | 140,000 | 140,000 | 106,000 | 82,000 | 62,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14,000 |
| total long term liabilities | 1,337,000 | 1,111,000 | 1,270,000 | 1,181,000 | 1,456,000 | 527,000 | 661,000 | 144,000 | 118,000 | 220,000 | 322,000 | 187,000 | 0 | 14,000 |
| total liabilities | 9,112,000 | 7,486,000 | 5,723,000 | 3,550,000 | 4,109,000 | 3,398,000 | 3,387,000 | 2,556,000 | 2,969,000 | 3,010,000 | 3,652,000 | 2,020,000 | 747,000 | 559,000 |
| net assets | 711,000 | 1,077,000 | 2,554,000 | 4,421,000 | 5,336,000 | 4,790,000 | 7,544,000 | 6,597,000 | 5,272,000 | 4,174,000 | 3,356,000 | 3,316,000 | 2,409,000 | 3,342,000 |
| total shareholders funds | 711,000 | 1,077,000 | 2,554,000 | 4,421,000 | 5,336,000 | 4,790,000 | 7,544,000 | 6,597,000 | 5,272,000 | 4,174,000 | 3,356,000 | 3,316,000 | 2,409,000 | 3,342,000 |
| May 2023 | May 2022 | May 2021 | May 2020 | May 2019 | May 2018 | May 2017 | May 2016 | May 2015 | May 2014 | May 2013 | May 2012 | May 2011 | May 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||
| Operating Profit | -134,000 | -1,227,000 | -2,371,000 | -986,000 | 597,000 | 360,000 | 1,080,000 | 1,180,000 | 1,207,000 | 1,739,000 | 2,412,000 | 1,359,000 | 486,000 | 339,000 |
| Depreciation | 383,000 | 460,000 | 567,000 | 631,000 | 716,000 | 499,000 | 0 | 414,000 | 366,000 | 363,000 | 262,000 | 114,000 | 192,000 | 227,000 |
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,000 | 3,000 | 2,000 | 3,000 |
| Tax | 204,000 | 72,000 | 702,000 | 118,000 | 58,000 | -113,000 | -55,000 | 349,000 | 51,000 | -294,000 | -225,000 | -449,000 | 79,000 | 50,000 |
| Stock | 321,000 | 135,000 | 280,000 | -91,000 | -88,000 | 7,000 | -31,000 | 62,000 | 117,000 | -124,000 | -96,000 | 395,000 | -25,000 | 319,000 |
| Debtors | 586,000 | 487,000 | 375,000 | -949,000 | 629,000 | -2,352,000 | 1,255,000 | 672,000 | 881,000 | 318,000 | 1,094,000 | 1,669,000 | -681,000 | 2,662,000 |
| Creditors | -263,000 | 471,000 | 182,000 | -429,000 | -132,000 | -228,000 | 27,000 | 118,000 | 86,000 | -232,000 | 262,000 | 468,000 | 151,000 | 322,000 |
| Accruals and Deferred Income | -310,000 | 383,000 | -456,000 | 148,000 | -230,000 | 153,000 | -182,000 | -369,000 | -108,000 | 255,000 | 200,000 | 566,000 | 83,000 | 191,000 |
| Deferred Taxes & Provisions | -70,000 | 0 | 34,000 | 24,000 | 20,000 | 62,000 | 0 | 0 | 0 | 0 | 0 | 0 | -14,000 | 14,000 |
| Cash flow from operations | -1,097,000 | -463,000 | -1,997,000 | 546,000 | 488,000 | 3,078,000 | -354,000 | 958,000 | 604,000 | 1,637,000 | 1,916,000 | -3,000 | 1,685,000 | -1,835,000 |
| Investing Activities | ||||||||||||||
| capital expenditure | ||||||||||||||
| Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | ||||||||||||||
| Financing Activities | ||||||||||||||
| Bank loans | 80,000 | 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 | 1,773,000 | 1,147,000 | 2,398,000 | 80,000 | -248,000 | 220,000 | 469,000 | -87,000 | 83,000 | -563,000 | 986,000 | 0 | 0 | 0 |
| Long term loans | -1,912,000 | -324,000 | 144,000 | -574,000 | 1,838,000 | -330,000 | 1,034,000 | 52,000 | -204,000 | 440,000 | 0 | 0 | 0 | 0 |
| Hire Purchase and Lease Commitments | 463,000 | -178,000 | -287,000 | -365,000 | 1,284,000 | -165,000 | 517,000 | -75,000 | -102,000 | -102,000 | 184,000 | 239,000 | -32,000 | 32,000 |
| other long term liabilities | -3,000 | 3,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| share issue | ||||||||||||||
| interest | -436,000 | -322,000 | -198,000 | -44,000 | -242,000 | -2,000 | -78,000 | -204,000 | 190,000 | -18,000 | -4,000 | -3,000 | 2,000 | -4,000 |
| cash flow from financing | -35,000 | 326,000 | 2,057,000 | -906,000 | 2,765,000 | -276,000 | 1,942,000 | -314,000 | -33,000 | -243,000 | 1,166,000 | 236,000 | -30,000 | 2,985,000 |
| cash and cash equivalents | ||||||||||||||
| cash | -21,000 | 13,000 | -168,000 | 147,000 | -135,000 | 121,000 | -368,000 | 339,000 | -74,000 | 78,000 | -200,000 | -172,000 | 82,000 | 366,000 |
| overdraft | -78,000 | -18,000 | 74,000 | -5,000 | 27,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | 57,000 | 31,000 | -242,000 | 152,000 | -162,000 | 121,000 | -368,000 | 339,000 | -74,000 | 78,000 | -200,000 | -172,000 | 82,000 | 366,000 |
midland aerospace limited Credit Report and Business Information
Midland Aerospace Limited Competitor Analysis
Perform a competitor analysis for midland aerospace limited by selecting its closest rivals, whether from the MANUFACTURING sector, other mid companies, companies in NG17 area or any other competitors across 12 key performance metrics.
midland aerospace limited Ownership
MIDLAND AEROSPACE LIMITED group structure
Midland Aerospace Limited has no subsidiary companies.
Ultimate parent company
2 parents
MIDLAND AEROSPACE LIMITED
04326476
midland aerospace limited directors
Midland Aerospace Limited currently has 4 directors. The longest serving directors include Mr Iain Clarkson (May 2020) and Mr Adrian Jones (Apr 2021).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Iain Clarkson | England | 57 years | May 2020 | - | Director |
| Mr Adrian Jones | 53 years | Apr 2021 | - | Director | |
| Mr Mike Saunders | 64 years | Oct 2023 | - | Director | |
| Mr Gary Roberts | 51 years | Oct 2023 | - | Director |
P&L
May 2023turnover
5.5m
+37%
operating profit
-134k
-89%
gross margin
18.9%
-344.41%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
May 2023net assets
711k
-0.34%
total assets
9.8m
+0.15%
cash
8k
-0.72%
net assets
Total assets minus all liabilities
midland aerospace limited company details
company number
04326476
Type
Private limited with Share Capital
industry
25110 - Manufacture of metal structures and parts of structures
incorporation date
November 2001
age
23
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
May 2023
previous names
edger 155 limited (February 2002)
accountant
-
auditor
MAZARS LLP
address
unit 4a, castlewood business park, sutton in ashfield, nottinghamshire, NG17 1BX
Bank
HSBC UK BANK PLC
Legal Advisor
DLA PIPER UK LLP
midland aerospace 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 7 charges/mortgages relating to midland aerospace limited. Currently there are 5 open charges and 2 have been satisfied in the past.
midland aerospace limited Companies House Filings - See Documents
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