Gastronorth Limited

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gastronorth limited Company Information

Live

MatureMidDeclining

Company Number

04592659

Website

www.gastronorth.co.uk

Registered Address

merlin house princesway, team valley trading estate, gateshead, tyne and wear, NE11 0NF

Industry

Other business support service activities n.e.c.

Telephone

01914615315

Next Accounts Due

December 2024

Group Structure

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Directors

Stewart Grierson21 Years

Richard Toye21 Years

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Shareholders

timothy whitfield 33.3%

stewart grierson 33.3%

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gastronorth limited Estimated Valuation

£5.1m

Pomanda estimates the enterprise value of GASTRONORTH LIMITED at £5.1m based on a Turnover of £7.8m and 0.66x industry multiple (adjusted for size and gross margin).

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Gastronorth Limited is a live company located in gateshead, NE11 0NF with a Companies House number of 04592659. It operates in the other business support service activities n.e.c. sector, SIC Code 82990. Founded in November 2002, it's largest shareholder is timothy whitfield with a 33.3% stake. Gastronorth Limited is a mature, mid sized company, Pomanda has estimated its turnover at £7.8m with declining growth in recent years.

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Pomanda's financial health check has awarded Gastronorth Limited a 3.5 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 Rating3.5out of 5

4 Strong

3 Regular

5 Weak

Size

annual sales of £7.8m, make it larger than the average company (£3m)

Growth

3 year (CAGR) sales growth of -1%, show it is growing at a slower rate (4.1%)

EXPORT

Gastronorth Limited's latest turnover from March 2023 is estimated at £7.8 million and the company has net assets of £813.8 thousand. According to their latest financial statements, Gastronorth Limited has 23 employees and maintains cash reserves of £333.7 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Turnover	7,770,594	6,723,498	3,531,128	8,002,926	9,067,593	9,273,830	11,218,648	18,285,047	14,914,798	6,174,563	5,263,691	4,326,187	7,172,255	3,161,197
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	4,757,222	4,157,503	2,214,502	4,960,548	5,647,400	5,739,621	6,815,268	11,356,034	9,433,402	3,935,171	3,324,225	2,661,665	4,294,532	1,882,618
Gross Profit	3,013,372	2,565,995	1,316,627	3,042,378	3,420,193	3,534,209	4,403,380	6,929,014	5,481,397	2,239,391	1,939,466	1,664,522	2,877,723	1,278,580
Admin Expenses	2,891,591	2,451,886	1,510,533	3,277,388	3,650,146	3,848,048	4,172,515	6,475,800	4,920,092	2,067,372	1,875,340	1,625,440	2,884,736	731,806
Operating Profit	121,781	114,109	-193,906	-235,010	-229,953	-313,839	230,865	453,214	561,305	172,019	64,126	39,082	-7,013	546,774
Interest Payable	0	0	0	1,421	4,173	5,945	3,308	0	0	0	0	0	0	0
Interest Receivable	17,250	2,085	115	152	2,724	1,715	642	1,003	0	2	68	68	3	0
Pre-Tax Profit	139,031	116,194	-193,791	-236,278	-231,403	-318,069	228,199	454,218	561,305	172,021	64,193	39,150	-7,010	546,774
Tax	-26,416	-22,077	0	0	0	0	-45,640	-90,843	-117,874	-39,565	-15,406	-10,179	0	-153,097
Profit After Tax	112,615	94,117	-193,791	-236,278	-231,403	-318,069	182,559	363,374	443,431	132,456	48,787	28,971	-7,010	393,677
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	112,615	94,117	-193,791	-236,278	-231,403	-318,069	182,559	363,374	443,431	132,456	48,787	28,971	-7,010	393,677
Employee Costs	1,005,964	831,762	800,093	832,307	920,693	943,277	924,136	857,227	4,129,346	1,728,098	1,458,293	1,213,567	2,049,373	882,133
Number Of Employees	23	20	20	21	24	26	26	24	116	49	42	35	60	25
EBITDA*	135,788	119,255	-165,494	-195,661	-156,331	-269,697	270,112	472,272	569,645	181,016	75,660	52,825	3,312	558,834

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Tangible Assets	54,738	870	5,511	34,819	77,500	75,695	111,737	107,484	19,461	17,600	27,379	34,978	35,218	29,689
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	3,000	3,000	3,000	3,000	0	0	0	0	0	0	0	0	2,000	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	57,738	3,870	8,511	37,819	77,500	75,695	111,737	107,484	19,461	17,600	27,379	34,978	37,218	29,689
Stock & work in progress	131,093	142,127	91,268	96,410	110,752	132,165	108,829	52,782	45,078	54,929	51,905	35,207	29,813	27,296
Trade Debtors	1,351,951	1,315,699	563,559	1,710,305	2,004,057	1,933,150	2,670,781	3,975,581	2,419,030	1,035,696	852,332	725,150	1,172,882	590,605
Group Debtors	46,798	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	687,429	344,069	651,294	66,626	90,467	70,958	40,560	0	0	0	0	0	0	0
Cash	333,706	478,037	77,864	152,019	152,764	573,547	112,315	401,248	0	0	908	26,130	1,146	0
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	2,550,977	2,279,932	1,383,985	2,025,360	2,358,040	2,709,820	2,932,485	4,429,611	2,464,108	1,090,625	905,145	786,487	1,203,841	617,901
total assets	2,608,715	2,283,802	1,392,496	2,063,179	2,435,540	2,785,515	3,044,222	4,537,095	2,483,569	1,108,225	932,524	821,465	1,241,059	647,590
Bank overdraft	0	0	0	0	31,885	34,233	28,772	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	1,216,934	979,085	482,740	748,024	922,354	1,178,308	893,126	2,317,537	1,441,407	510,068	458,921	393,895	844,016	252,514
Group/Directors Accounts	62,206	82,130	46,127	79,157	3,848	54,134	103,095	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	10,563	0	0	14,693	0	0	0	0	0	0	0	0	0	0
other current liabilities	443,606	521,336	255,702	416,531	418,754	199,792	343,150	735,867	0	0	0	0	0	0
total current liabilities	1,733,309	1,582,551	784,569	1,258,405	1,376,841	1,466,467	1,368,143	3,053,404	1,441,407	510,068	458,921	393,895	844,016	252,514
loans	0	0	0	0	14,693	42,844	77,078	0	0	0	0	0	0	0
hp & lease commitments	49,006	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	0	0	0	0	72,108	0	267	7,108	9,087	8,362	844
provisions	12,574	40	833	3,889	6,843	7,638	12,366	7,507	1,460	619	1,680	2,455	1,624	405
total long term liabilities	61,580	40	833	3,889	21,536	50,482	89,444	79,615	1,460	886	8,788	11,542	9,986	1,249
total liabilities	1,794,889	1,582,591	785,402	1,262,294	1,398,377	1,516,949	1,457,587	3,133,019	1,442,867	510,954	467,709	405,437	854,002	253,763
net assets	813,826	701,211	607,094	800,885	1,037,163	1,268,566	1,586,635	1,404,076	1,040,702	597,271	464,815	416,028	387,057	393,827
total shareholders funds	813,826	701,211	607,094	800,885	1,037,163	1,268,566	1,586,635	1,404,076	1,040,702	597,271	464,815	416,028	387,057	393,827

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Operating Activities
Operating Profit	121,781	114,109	-193,906	-235,010	-229,953	-313,839	230,865	453,214	561,305	172,019	64,126	39,082	-7,013	546,774
Depreciation	14,007	5,146	28,412	39,349	73,622	44,142	39,247	19,058	8,340	8,997	11,534	13,743	10,325	12,060
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-26,416	-22,077	0	0	0	0	-45,640	-90,843	-117,874	-39,565	-15,406	-10,179	0	-153,097
Stock	-11,034	50,859	-5,142	-14,342	-21,413	23,336	56,047	7,704	-9,851	3,024	16,698	5,394	2,517	27,296
Debtors	426,410	444,915	-562,078	-317,593	90,416	-707,233	-1,264,240	1,556,551	1,383,334	183,364	127,182	-447,732	582,277	590,605
Creditors	237,849	496,345	-265,284	-174,330	-255,954	285,182	-1,424,411	876,130	931,339	51,147	65,026	-450,121	591,502	252,514
Accruals and Deferred Income	-77,730	265,634	-160,829	-2,223	218,962	-143,358	-392,717	735,867	0	0	0	0	0	0
Deferred Taxes & Provisions	12,534	-793	-3,056	-2,954	-795	-4,728	4,859	6,047	841	-1,061	-775	831	1,219	405
Cash flow from operations	-133,351	362,590	-27,443	-43,233	-263,121	551,296	-379,604	435,218	10,468	5,149	-19,375	35,694	11,239	40,755
Investing Activities
capital expenditure	-67,875	-505	896	3,332	-75,427	-8,100	-43,500	-107,081	-10,201	782	-3,935	-13,503	-15,854	-41,749
Change in Investments	0	0	0	3,000	0	0	0	0	0	0	0	-2,000	2,000	0
cash flow from investments	-67,875	-505	896	332	-75,427	-8,100	-43,500	-107,081	-10,201	782	-3,935	-11,503	-17,854	-41,749
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	-19,924	36,003	-33,030	75,309	-50,286	-48,961	103,095	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	0	0	-14,693	-28,151	-34,234	77,078	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	59,569	0	-14,693	14,693	0	0	0	0	0	0	0	0	0	0
other long term liabilities	0	0	0	0	0	0	-72,108	72,108	-267	-6,841	-1,979	725	7,518	844
share issue	0	0	0	0	0	0	0	0	0	0	0	0	240	150
interest	17,250	2,085	115	-1,269	-1,449	-4,230	-2,666	1,003	0	2	68	68	3	0
cash flow from financing	56,895	38,088	-47,608	74,040	-79,886	-87,425	105,399	73,111	-267	-6,839	-1,911	793	7,761	994
cash and cash equivalents
cash	-144,331	400,173	-74,155	-745	-420,783	461,232	-288,933	401,248	0	-908	-25,222	24,984	1,146	0
overdraft	0	0	0	-31,885	-2,348	5,461	28,772	0	0	0	0	0	0	0
change in cash	-144,331	400,173	-74,155	31,140	-418,435	455,771	-317,705	401,248	0	-908	-25,222	24,984	1,146	0

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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GASTRONORTH LIMITED group structure

Gastronorth Limited has no subsidiary companies.

Ultimate parent company

GASTRONORTH LIMITED

04592659

GASTRONORTH LIMITED Shareholders

timothy whitfield	33.33%
stewart grierson	33.33%
richard toye	33.33%

Gastronorth Limited currently has 3 directors. The longest serving directors include Mr Stewart Grierson (Apr 2003) and Mr Richard Toye (Apr 2003).

officer	country	age	start	end	role
Mr Stewart Grierson	United Kingdom	46 years	Apr 2003	-	Director
Mr Richard Toye	England	56 years	Apr 2003	-	Director
Mr Timothy Whitfield	England	50 years	Sep 2010	-	Director

P&L

March 2023

turnover

7.8m

+16%

operating profit

121.8k

gross margin

38.8%

+1.61%

turnover

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

Balance Sheet

March 2023

net assets

813.8k

+0.16%

total assets

2.6m

+0.14%

cash

333.7k

-0.3%

net assets

Total assets minus all liabilities

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company number

04592659

Type

Private limited with Share Capital

industry

82990 - Other business support service activities n.e.c.

incorporation date

November 2002

age

accounts

Total Exemption Full

ultimate parent company

None

previous names

upnorth foodservice equipment limited (September 2015)

upnorth catering & leisure limited (April 2011)

incorporated

address

merlin house princesway, team valley trading estate, gateshead, tyne and wear, NE11 0NF

last accounts submitted

March 2023

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 2 charges/mortgages relating to gastronorth limited. Currently there are 1 open charges and 1 have been satisfied in the past.

gastronorth limited Company Information

gastronorth limited Estimated Valuation

gastronorth limited Estimated Valuation

gastronorth limited Estimated Valuation

Gastronorth Limited Overview

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GASTRONORTH LIMITED financials

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