Device Authority Ltd

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device authority ltd Company Information

Live

MatureSmallDeclining

Company Number

04676191

Website

www.deviceauthority.com

Registered Address

level 2, thames tower, station road, reading, RG1 1LX

Industry

Business and domestic software development

Telephone

Next Accounts Due

September 2024

Group Structure

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Directors

Darron Antill8 Years

Stewart Alsop8 Years

View All

Shareholders

tern plc 31.6%

ten eleven fund iii l.p 16.4%

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device authority ltd Estimated Valuation

£2.8m

Pomanda estimates the enterprise value of DEVICE AUTHORITY LTD at £2.8m based on Net Assets of £1.3m and 2.26x industry multiple (adjusted for liquidity).

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Device Authority Ltd AI Business Plan

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Device Authority Ltd is a live company located in reading, RG1 1LX with a Companies House number of 04676191. It operates in the business and domestic software development sector, SIC Code 62012. Founded in February 2003, it's largest shareholder is tern plc with a 31.6% stake. Device Authority Ltd is a mature, small sized company, Pomanda has estimated its turnover at £1.6m with declining growth in recent years.

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Pomanda's financial health check has awarded Device Authority Ltd a 1.5 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 7 areas for improvement. Company Health Check FAQs

Health Rating1.5out of 5

1 Strong

3 Regular

7 Weak

Size

annual sales of £1.6m, make it smaller than the average company (£3.6m)

Growth

3 year (CAGR) sales growth of -36%, show it is growing at a slower rate (7.6%)

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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DEVICE AUTHORITY LTD group structure

Device Authority Ltd has no subsidiary companies.

Ultimate parent company

DEVICE AUTHORITY LTD

04676191

DEVICE AUTHORITY LTD Shareholders

tern plc	31.6%
ten eleven fund iii l.p	16.4%
alsop louie capital 3 l.p.	12.93%
prelude fund iii l.p.	11.17%
da investment holdings llc	6.96%
ten eleven fund iii-a l.p.	4.17%
jonathan swann	2.58%
venafi inc	1.93%
darron antill	1.85%
the ann samenuk revocable trust	1.36%

Device Authority Ltd currently has 7 directors. The longest serving directors include Mr Darron Antill (Jul 2015) and Mr Stewart Alsop (Apr 2016).

officer	country	age	start	end	role
Mr Darron Antill	United Kingdom	57 years	Jul 2015	-	Director
Mr Stewart Alsop	Usa	72 years	Apr 2016	-	Director
Mr Bruce Leith	United Kingdom	73 years	Aug 2022	-	Director
Mr James Penney	United Kingdom	35 years	Dec 2023	-	Director
Mr David Palmer	United Kingdom	45 years	Dec 2023	-	Director
Ms Grace Cassy		47 years	Jan 2024	-	Director
Mr Timothy Eades	United Kingdom	54 years	Feb 2024	-	Director

EXPORT

Device Authority Ltd's latest turnover from December 2022 is estimated at £1.6 million and the company has net assets of £1.3 million. According to their latest financial statements, Device Authority Ltd has 19 employees and maintains cash reserves of £1.1 million 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
Turnover	1,558,733	639,476	1,069,988	5,830,689	4,942,106	4,407,098	3,050,958	489,222
Other Income Or Grants	0	0	0	0	0	0	0	0
Cost Of Sales	432,854	166,191	286,571	1,515,171	1,282,616	1,159,571	822,956	124,908
Gross Profit	1,125,880	473,285	783,416	4,315,518	3,659,489	3,247,527	2,228,002	364,314
Admin Expenses	3,143,955	2,495,591	5,930,702	5,651,767	5,058,425	4,796,110	3,640,650	1,476,969
Operating Profit	-2,018,075	-2,022,306	-5,147,286	-1,336,249	-1,398,936	-1,548,583	-1,412,648	-1,112,655
Interest Payable	582,416	164,101	321,806	354,409	0	209,494	201,436	0
Interest Receivable	33,715	1,024	56	497	931	4,529	1,998	12
Pre-Tax Profit	-2,566,776	-2,185,382	-5,469,035	-1,690,161	-1,398,005	-1,753,548	-1,612,086	-1,112,643
Tax	0	0	0	0	0	0	0	0
Profit After Tax	-2,566,776	-2,185,382	-5,469,035	-1,690,161	-1,398,005	-1,753,548	-1,612,086	-1,112,643
Dividends Paid	0	0	0	0	0	0	0	0
Retained Profit	-2,566,776	-2,185,382	-5,469,035	-1,690,161	-1,398,005	-1,753,548	-1,612,086	-1,112,643
Employee Costs	1,283,728	821,157	723,479	747,921	430,714	470,261	841,719	273,051
Number Of Employees	19	13	12	12	7	8	15	5
EBITDA*	-2,012,615	-2,017,196	-5,142,598	-1,336,249	-1,393,165	-1,542,923	-1,412,648	-1,108,848

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015
Tangible Assets	8,248	5,026	1,960	3,028	3,326	2,564	4,491	2,006
Intangible Assets	4,828	7,724	10,621	13,517	16,722	20,456	24,189	24,267
Investments & Other	6,386,629	6,386,629	6,386,629	6,386,629	6,386,629	6,386,628	6,386,628	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0
Total Fixed Assets	6,399,705	6,399,379	6,399,210	6,403,174	6,406,677	6,409,648	6,415,308	26,273
Stock & work in progress	0	0	0	0	0	0	0	0
Trade Debtors	209,996	21,567	182,800	1,797,102	1,456,692	1,316,091	761,858	82,126
Group Debtors	2,829,545	2,284,122	0	0	0	0	0	0
Misc Debtors	34,947	37,568	1,812,419	0	0	0	0	0
Cash	1,117,216	809,342	10,234	102,217	30,212	218,039	1,593,540	4,902
misc current assets	0	0	0	0	0	0	0	0
total current assets	4,191,704	3,152,599	2,005,453	1,899,319	1,486,904	1,534,130	2,355,398	87,028
total assets	10,591,409	9,551,978	8,404,663	8,302,493	7,893,581	7,943,778	8,770,706	113,301
Bank overdraft	0	0	50,000	0	0	0	0	0
Bank loan	9,103	8,719	0	0	0	0	0	0
Trade Creditors	227,069	145,873	144,950	100,669	2,388,675	1,040,868	163,858	295,493
Group/Directors Accounts	0	0	0	0	0	0	0	0
other short term finances	7,019,876	5,152,618	0	4,072,804	0	0	6,445,958	0
hp & lease commitments	0	0	0	0	0	0	0	0
other current liabilities	1,340,762	380,477	9,863,496	313,931	0	0	0	0
total current liabilities	8,596,810	5,687,687	10,058,446	4,487,404	2,388,675	1,040,868	6,609,816	295,493
loans	31,174	39,893	0	6,428,200	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0
Accruals and Deferred Income	705,803	0	0	0	0	0	0	0
other liabilities	0	0	0	0	6,428,200	6,495,531	0	619,413
provisions	0	0	0	0	0	0	0	0
total long term liabilities	736,977	39,893	0	6,428,200	6,428,200	6,495,531	0	619,413
total liabilities	9,333,787	5,727,580	10,058,446	10,915,604	8,816,875	7,536,399	6,609,816	914,906
net assets	1,257,622	3,824,398	-1,653,783	-2,613,111	-923,294	407,379	2,160,890	-801,605
total shareholders funds	1,257,622	3,824,398	-1,653,783	-2,613,111	-923,294	407,379	2,160,890	-801,605

	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Sep 2014	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Operating Activities
Operating Profit	-2,018,075	-2,022,306	-5,147,286	-1,336,249	-1,398,936	-1,548,583	-1,412,648	-1,112,655	0	0	0	0	0	0
Depreciation	2,564	2,213	1,792	0	2,037	1,927	0	74	0	0	0	0	0	0
Amortisation	2,896	2,897	2,896	0	3,734	3,733	0	3,733	0	0	0	0	0	0
Tax	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	731,231	348,038	198,117	340,410	140,601	554,233	679,732	82,126	0	0	0	0	0	0
Creditors	81,196	923	44,281	-2,288,006	1,347,807	877,010	-131,635	295,493	0	0	0	0	0	0
Accruals and Deferred Income	1,666,088	-9,483,019	9,549,565	313,931	0	0	0	0	0	0	0	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	-996,562	-11,847,330	4,253,131	-3,650,734	-185,959	-1,220,146	-2,224,015	-895,481	0	0	0	0	0	0
Investing Activities
capital expenditure	-5,786	-5,279	-724	3,503	-2,799	0	-2,407	-30,080	0	0	0	0	0	0
Change in Investments	0	0	0	0	1	0	6,386,628	0	0	0	0	0	0	0
cash flow from investments	-5,786	-5,279	-724	3,503	-2,800	0	-6,389,035	-30,080	0	0	0	0	0	0
Financing Activities
Bank loans	384	8,719	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	1,867,258	5,152,618	-4,072,804	4,072,804	0	-6,445,958	6,445,958	0	0	0	0	0	0	0
Long term loans	-8,719	39,893	-6,428,200	6,428,200	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	0	0	0	-6,428,200	-67,331	6,495,531	-619,413	619,413	0	0	0	0	0	0
share issue	0	7,663,563	6,428,363	344	67,332	37	4,574,581	311,038	0	0	0	0	0	0
interest	-548,701	-163,077	-321,750	-353,912	931	-204,965	-199,438	12	0	0	0	0	0	0
cash flow from financing	1,310,222	12,701,716	-4,394,391	3,719,236	932	-155,355	10,201,688	930,463	0	0	0	0	0	0
cash and cash equivalents
cash	307,874	799,108	-91,983	72,005	-187,827	-1,375,501	1,588,638	4,902	0	0	0	0	0	0
overdraft	0	-50,000	50,000	0	0	0	0	0	0	0	0	0	0	0
change in cash	307,874	849,108	-141,983	72,005	-187,827	-1,375,501	1,588,638	4,902	0	0	0	0	0	0

P&L

December 2022

turnover

1.6m

+144%

operating profit

-2m

gross margin

72.3%

-2.41%

turnover

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

Balance Sheet

December 2022

net assets

1.3m

-0.67%

total assets

10.6m

+0.11%

cash

1.1m

+0.38%

net assets

Total assets minus all liabilities

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company number

04676191

Type

Private limited with Share Capital

industry

62012 - Business and domestic software development

incorporation date

February 2003

age

accounts

Total Exemption Full

ultimate parent company

None

previous names

cryptosoft limited (April 2016)

intellect software limited (October 2004)

incorporated

address

level 2, thames tower, station road, reading, RG1 1LX

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 15 charges/mortgages relating to device authority ltd. Currently there are 0 open charges and 15 have been satisfied in the past.

device authority ltd Company Information

device authority ltd Estimated Valuation

device authority ltd Estimated Valuation

device authority ltd Estimated Valuation

Device Authority Ltd AI Business Plan

Device Authority Ltd Overview

Device Authority Ltd Health Check

device authority ltd Credit Report and Business Information

Device Authority Ltd Competitor Analysis

device authority ltd Ownership

device authority ltd directors

DEVICE AUTHORITY LTD financials

device authority ltd company details

device authority ltd Charges & Mortgages

device authority ltd Companies House Filings - See Documents