Silverbug Limited

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silverbug limited Company Information

Live

MatureMidHigh

Company Number

04541846

Website

http://www.silverbug.com

Registered Address

unit 7 bostocks lane, sandiacre, nottingham, NG10 5QG

Industry

Other information technology and computer service activities

Telephone

01908863300

Next Accounts Due

September 2024

Group Structure

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Directors

James Healey1 Years

James Steventon1 Years

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Shareholders

owen daley 53.5%

silverbug limited 24.6%

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silverbug limited Estimated Valuation

£11.8m

Pomanda estimates the enterprise value of SILVERBUG LIMITED at £11.8m based on a Turnover of £13.3m and 0.89x industry multiple (adjusted for size and gross margin).

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Silverbug Limited is a live company located in nottingham, NG10 5QG with a Companies House number of 04541846. It operates in the other information technology service activities sector, SIC Code 62090. Founded in September 2002, it's largest shareholder is owen daley with a 53.5% stake. Silverbug Limited is a mature, mid sized company, Pomanda has estimated its turnover at £13.3m with high growth in recent years.

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Pomanda's financial health check has awarded Silverbug Limited a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 2 areas for improvement. Company Health Check FAQs

Health Rating4.5out of 5

6 Strong

4 Regular

2 Weak

Size

annual sales of £13.3m, make it larger than the average company (£6.7m)

Growth

3 year (CAGR) sales growth of 23%, show it is growing at a faster rate (5.3%)

EXPORT

Silverbug Limited's latest turnover from December 2022 is £13.3 million and the company has net assets of £479.3 thousand. According to their latest financial statements, Silverbug Limited has 77 employees and maintains cash reserves of £722.4 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	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	13,265,553	9,229,432	8,153,488	7,086,973	6,133,628	5,062,924	4,911,403	5,409,132	5,957,854	7,277,807	5,775,724	2,046,566	2,020,371	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	7,383,312	4,634,284	3,668,248	3,046,711	2,545,819	1,584,962	1,784,495	2,163,890	2,661,470	3,743,528	3,191,891	1,451,969	1,420,686	0
Gross Profit	5,882,241	4,595,148	4,485,240	4,040,262	3,587,809	3,477,962	3,126,908	3,245,242	3,296,384	3,534,279	2,583,833	594,598	599,685	0
Admin Expenses	5,294,694	4,587,229	4,030,669	3,889,799	3,543,394	3,517,852	2,940,770	3,073,079	3,137,875	3,350,932	2,023,055	646,040	449,541	-401,313
Operating Profit	587,547	7,919	454,571	150,463	44,415	-39,890	186,138	172,163	158,509	183,347	560,778	-51,442	150,144	401,313
Interest Payable	151,923	129,239	37,589	37,653	23,709	20,098	0	0	22,470	10,010	247	1,530	4,063	2,532
Interest Receivable	0	0	0	0	0	0	0	0	0	0	0	2,590	2,287	681
Pre-Tax Profit	435,624	-121,320	416,982	112,810	20,706	-59,988	486,138	422,163	375,039	173,337	560,531	-50,382	148,368	399,463
Tax	-6,128	130,354	61,931	118,542	258,451	-76,071	2,843	-31,324	-29,757	-41,984	0	0	-41,543	-111,849
Profit After Tax	429,496	9,034	478,913	231,352	279,157	-136,059	488,981	390,839	345,282	131,353	560,531	-50,382	106,825	287,613
Dividends Paid	368,000	320,065	330,310	252,185	185,000	172,000	187,000	242,500	204,500	192,500	0	0	0	0
Retained Profit	61,496	-311,031	148,603	-20,833	94,157	-308,059	301,981	148,339	140,782	-61,147	560,531	-50,382	106,825	287,613
Employee Costs	3,171,650	2,757,705	3,663,078	4,199,821	2,827,920	3,203,911	1,967,699	2,155,561	2,140,882	2,526,413	1,098,944	415,945	399,188	0
Number Of Employees	77	57	60	70	49	58	62	66	74	57	21	8	8	0
EBITDA*	978,676	319,209	720,758	420,771	293,846	-39,890	238,816	247,495	217,845	227,405	589,003	-38,455	158,080	462,978

* Earnings Before Interest, Tax, Depreciation and Amortisation

	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	129,479	97,970	67,249	86,332	31,724	44,953	67,251	86,323	100,566	126,069	75,797	22,968	20,852	1
Intangible Assets	2,078,323	2,412,785	1,395,651	1,640,294	1,600,767	1,696,640	521,425	116,667	0	0	0	0	0	0
Investments & Other	487,820	472,820	160,056	0	0	0	1,614,051	1,614,051	1,614,051	1,614,051	915,000	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	2,695,622	2,983,575	1,622,956	1,726,626	1,632,491	1,741,593	2,202,727	1,817,041	1,714,617	1,740,120	990,797	22,968	20,852	1
Stock & work in progress	57,804	29,459	47,357	41,941	38,887	43,928	34,822	71,700	266,532	0	349,086	63,465	229,465	89,815
Trade Debtors	2,123,818	1,724,290	1,576,445	1,119,275	782,252	541,495	660,670	533,265	795,188	747,855	1,020,073	566,582	543,168	746,926
Group Debtors	0	0	0	0	0	0	635,474	358,418	191,682	0	87,354	0	0	0
Misc Debtors	267,219	330,066	217,712	181,308	209,259	131,676	550,508	540,170	576,287	106,547	15,169	0	0	0
Cash	722,388	469,826	174,779	103,898	53,884	504	151	505,941	3,816	79,571	0	393,828	642,204	272,595
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	3,171,229	2,553,641	2,016,293	1,446,422	1,084,282	717,603	1,881,625	2,009,494	1,833,505	933,973	1,471,682	1,023,875	1,414,837	1,109,336
total assets	5,866,851	5,537,216	3,639,249	3,173,048	2,716,773	2,459,196	4,084,352	3,826,535	3,548,122	2,674,093	2,462,479	1,046,843	1,435,689	1,109,337
Bank overdraft	0	0	356,013	470,617	506,999	262,489	0	0	320,623	0	123,929	0	0	0
Bank loan	0	2,000,000	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	914,762	929,810	663,256	424,935	403,871	363,412	316,930	227,701	379,095	366,244	922,639	638,419	699,840	464,024
Group/Directors Accounts	2,640,283	759,614	0	0	0	0	33,814	43,868	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	8,701	0	0	0	0	0	0
other current liabilities	1,802,472	1,473,669	1,261,589	1,113,569	710,625	892,747	780,798	1,031,274	1,050,279	955,935	320,749	0	0	0
total current liabilities	5,357,517	5,163,093	2,280,858	2,009,121	1,621,495	1,518,648	1,131,542	1,311,544	1,749,997	1,322,179	1,367,317	638,419	699,840	464,024
loans	0	0	350,000	0	0	0	187,194	0	0	31,779	41,911	0	47,084	77,917
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	0	0	0	289,741	10,664	0	545,407	577,587	805,978	435,247	123,664	54,368	277,254	262,710
provisions	30,026	21,433	91,261	105,659	115,254	115,345	6,764	9,743	12,925	16,448	0	0	7,073	7,073
total long term liabilities	30,026	21,433	441,261	395,400	125,918	115,345	739,365	587,330	818,903	483,474	165,575	54,368	331,411	347,700
total liabilities	5,387,543	5,184,526	2,722,119	2,404,521	1,747,413	1,633,993	1,870,907	1,898,874	2,568,900	1,805,653	1,532,892	692,787	1,031,251	811,724
net assets	479,308	352,690	917,130	768,527	969,360	825,203	2,213,445	1,927,661	979,222	868,440	929,587	354,056	404,438	297,613
total shareholders funds	479,308	352,690	917,130	768,527	969,360	825,203	2,213,445	1,927,661	979,222	868,440	929,587	354,056	404,438	297,613

	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	587,547	7,919	454,571	150,463	44,415	-39,890	186,138	172,163	158,509	183,347	560,778	-51,442	150,144	401,313
Depreciation	56,667	33,892	36,544	33,574	30,845	0	52,678	75,332	59,336	44,058	28,225	12,987	7,936	61,665
Amortisation	334,462	277,398	229,643	236,734	218,586	0	0	0	0	0	0	0	0	0
Tax	-6,128	130,354	61,931	118,542	258,451	-76,071	2,843	-31,324	-29,757	-41,984	0	0	-41,543	-111,849
Stock	28,345	-17,898	5,416	3,054	-5,041	9,106	-36,878	-194,832	266,532	-349,086	285,621	-166,000	139,650	89,815
Debtors	336,681	260,199	493,574	309,072	318,340	-1,173,481	414,799	-131,304	708,755	-268,194	556,014	23,414	-203,758	746,926
Creditors	-15,048	266,554	238,321	21,064	40,459	46,482	89,229	-151,394	12,851	-556,395	284,220	-61,421	235,816	464,024
Accruals and Deferred Income	328,803	212,080	148,020	402,944	-182,122	111,949	-250,476	-19,005	94,344	635,186	320,749	0	0	0
Deferred Taxes & Provisions	8,593	-69,828	-14,398	-9,595	-91	108,581	-2,979	-3,182	-3,523	16,448	0	-7,073	0	7,073
Cash flow from operations	929,870	616,068	655,642	641,600	97,244	1,315,426	-300,488	368,726	-683,527	897,940	352,337	35,637	416,461	-14,515
Investing Activities
capital expenditure	-88,176	-1,359,145	-2,461	-364,443	-140,329	-1,152,917	-175,031	13,911	0	-793,382	-81,054	-15,103	-28,787	-61,666
Change in Investments	15,000	312,764	160,056	0	0	-1,614,051	0	0	0	699,051	915,000	0	0	0
cash flow from investments	-103,176	-1,671,909	-162,517	-364,443	-140,329	461,134	-175,031	13,911	0	-1,492,433	-996,054	-15,103	-28,787	-61,666
Financing Activities
Bank loans	-2,000,000	2,000,000	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	1,880,669	759,614	0	0	0	-33,814	-10,054	43,868	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	-350,000	350,000	0	0	-187,194	187,194	0	-31,779	-10,132	41,911	-47,084	-30,833	77,917
Hire Purchase and Lease Commitments	0	0	0	0	0	0	-8,701	8,701	0	0	0	0	0	0
other long term liabilities	0	0	-289,741	279,077	10,664	-545,407	-32,180	-228,391	370,731	311,583	69,296	-222,886	14,544	262,710
share issue	65,122	-253,409	0	-180,000	50,000	-1,080,183	-16,197	800,100	-30,000	0	15,000	0	0	10,000
interest	-151,923	-129,239	-37,589	-37,653	-23,709	-20,098	0	0	-22,470	-10,010	-247	1,060	-1,776	-1,851
cash flow from financing	-206,132	2,026,966	22,670	61,424	36,955	-1,866,696	120,062	624,278	286,482	291,441	125,960	-268,910	-18,065	348,776
cash and cash equivalents
cash	252,562	295,047	70,881	50,014	53,380	353	-505,790	502,125	-75,755	79,571	-393,828	-248,376	369,609	272,595
overdraft	0	-356,013	-114,604	-36,382	244,510	262,489	0	-320,623	320,623	-123,929	123,929	0	0	0
change in cash	252,562	651,060	185,485	86,396	-191,130	-262,136	-505,790	822,748	-396,378	203,500	-517,757	-248,376	369,609	272,595

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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SILVERBUG LIMITED group structure

Silverbug Limited has 3 subsidiary companies.

Ultimate parent company

AUGUST EQUITY LLP

OC313101

KORU TOPCO LIMITED

12351469

2 parents

SILVERBUG LIMITED

04541846

3 subsidiaries

PARALOGIC NETWORKS LIMITED

04569856

ADMIRAL EDUCATION SOLUTIONS LIMITED

07737220

IQUDA LTD

03792344

SILVERBUG LIMITED Shareholders

owen daley	53.54%
silverbug limited	24.59%
michael wainwright	14.2%
daniel peter bland	7.1%
peter pendlebury	0.28%
david lewis	0.28%

Silverbug Limited currently has 4 directors. The longest serving directors include Mr James Healey (Dec 2022) and Mr James Steventon (Dec 2022).

officer	country	age	start	end	role
Mr James Healey	England	40 years	Dec 2022	-	Director
Mr James Steventon	England	56 years	Dec 2022	-	Director
Mr Spencer Lea	United Kingdom	52 years	Dec 2023	-	Director
Mr Mark Lovett	England	50 years	Apr 2024	-	Director

P&L

December 2022

turnover

13.3m

+44%

operating profit

587.5k

+7319%

gross margin

44.4%

-10.94%

turnover

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

Balance Sheet

December 2022

net assets

479.3k

+0.36%

total assets

5.9m

+0.06%

cash

722.4k

+0.54%

net assets

Total assets minus all liabilities

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company number

04541846

Type

Private limited with Share Capital

industry

62090 - Other information technology and computer service activities

incorporation date

September 2002

age

accounts

Audit Exemption Subsidiary

ultimate parent company

AUGUST EQUITY LLP

previous names

N/A

incorporated

address

unit 7 bostocks lane, sandiacre, nottingham, NG10 5QG

last accounts submitted

December 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 found 9 charges/mortgages relating to silverbug limited. Currently there are 3 open charges and 6 have been satisfied in the past.

silverbug limited Company Information

silverbug limited Estimated Valuation

silverbug limited Estimated Valuation

silverbug limited Estimated Valuation

Silverbug Limited Overview

Silverbug Limited Health Check

SILVERBUG LIMITED financials

silverbug limited Credit Report and Business Information

Silverbug Limited Competitor Analysis

silverbug limited Ownership

silverbug limited directors

silverbug limited company details

silverbug limited Charges & Mortgages

silverbug limited Companies House Filings - See Documents