w.i.p (work in progress) limited Company Information
Company Number
04715981
Website
-Registered Address
32 portland terrace, newcastle upon tyne, tyne & wear, NE2 1QP
Industry
Manufacture of footwear
Telephone
-
Next Accounts Due
December 2024
Group Structure
View All
Directors
Christopher Maughan20 Years
Shareholders
dragonfly venture group ltd 100%
w.i.p (work in progress) limited Estimated Valuation
Pomanda estimates the enterprise value of W.I.P (WORK IN PROGRESS) LIMITED at £67.6m based on a Turnover of £39.1m and 1.73x industry multiple (adjusted for size and gross margin).
w.i.p (work in progress) limited Estimated Valuation
Pomanda estimates the enterprise value of W.I.P (WORK IN PROGRESS) LIMITED at £98.7m based on an EBITDA of £8.2m and a 12.09x industry multiple (adjusted for size and gross margin).
w.i.p (work in progress) limited Estimated Valuation
Pomanda estimates the enterprise value of W.I.P (WORK IN PROGRESS) LIMITED at £23.5m based on Net Assets of £7.3m and 3.21x industry multiple (adjusted for liquidity).
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W.i.p (work In Progress) Limited Overview
W.i.p (work In Progress) Limited is a live company located in tyne & wear, NE2 1QP with a Companies House number of 04715981. It operates in the manufacture of footwear sector, SIC Code 15200. Founded in March 2003, it's largest shareholder is dragonfly venture group ltd with a 100% stake. W.i.p (work In Progress) Limited is a mature, large sized company, Pomanda has estimated its turnover at £39.1m with healthy growth in recent years.
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W.i.p (work In Progress) Limited Health Check
Pomanda's financial health check has awarded W.I.P (Work In Progress) Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 4 areas for improvement. Company Health Check FAQs
6 Strong
2 Regular
4 Weak
Size
annual sales of £39.1m, make it larger than the average company (£14.7m)
£39.1m - W.i.p (work In Progress) Limited
£14.7m - Industry AVG
Growth
3 year (CAGR) sales growth of 5%, show it is growing at a similar rate (4.6%)
5% - W.i.p (work In Progress) Limited
4.6% - Industry AVG
Production
with a gross margin of 33.8%, this company has a comparable cost of product (33.8%)
33.8% - W.i.p (work In Progress) Limited
33.8% - Industry AVG
Profitability
an operating margin of 20.9% make it more profitable than the average company (6.8%)
20.9% - W.i.p (work In Progress) Limited
6.8% - Industry AVG
Employees
with 3 employees, this is below the industry average (88)
3 - W.i.p (work In Progress) Limited
88 - Industry AVG
Pay Structure
on an average salary of £81.9k, the company has a higher pay structure (£36.1k)
£81.9k - W.i.p (work In Progress) Limited
£36.1k - Industry AVG
Efficiency
resulting in sales per employee of £13m, this is more efficient (£128.6k)
£13m - W.i.p (work In Progress) Limited
£128.6k - Industry AVG
Debtor Days
it gets paid by customers after 16 days, this is earlier than average (39 days)
16 days - W.i.p (work In Progress) Limited
39 days - Industry AVG
Creditor Days
its suppliers are paid after 68 days, this is slower than average (32 days)
68 days - W.i.p (work In Progress) Limited
32 days - Industry AVG
Stock Days
it holds stock equivalent to 40 days, this is less than average (162 days)
40 days - W.i.p (work In Progress) Limited
162 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 6 weeks, this is less cash available to meet short term requirements (14 weeks)
6 weeks - W.i.p (work In Progress) Limited
14 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 75.4%, this is a higher level of debt than the average (47.1%)
75.4% - W.i.p (work In Progress) Limited
47.1% - Industry AVG
W.I.P (WORK IN PROGRESS) LIMITED financials
W.I.P (Work In Progress) Limited's latest turnover from March 2023 is £39.1 million and the company has net assets of £7.3 million. According to their latest financial statements, W.I.P (Work In Progress) Limited has 3 employees and maintains cash reserves of £2.9 million 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 | 39,061,215 | 48,922,298 | 31,032,561 | 33,656,065 | 35,399,596 | 26,132,931 | 25,547,950 | 24,063,891 | 19,661,615 | 20,725,468 | 13,741,707 | 12,206,417 | 9,130,765 | 7,533,405 |
Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Cost Of Sales | 25,849,872 | 30,870,882 | 20,931,685 | 22,564,896 | 24,076,223 | 17,651,756 | 17,863,131 | 16,847,439 | 13,555,801 | 14,467,841 | 10,869,709 | 9,545,326 | 7,029,360 | |
Gross Profit | 13,211,343 | 18,051,416 | 10,100,876 | 11,091,169 | 11,323,373 | 8,481,175 | 7,684,819 | 7,216,452 | 6,105,814 | 6,257,627 | 2,871,998 | 2,661,091 | 2,101,405 | |
Admin Expenses | 5,048,025 | 3,433,812 | 2,223,307 | 2,006,480 | 1,850,759 | 2,389,707 | -304,055 | 106,832 | -1,134,930 | 1,618,964 | -1,516,349 | 130,028 | 345,959 | |
Operating Profit | 8,163,318 | 14,617,604 | 7,877,569 | 9,084,689 | 9,472,614 | 6,091,468 | 7,988,874 | 7,109,620 | 7,240,744 | 4,638,663 | 4,388,347 | 2,531,063 | 1,755,446 | 1,008,693 |
Interest Payable | 16,573 | 3,982 | 16,066 | 1,701 | 0 | 1,036 | 5,295 | 15,708 | 7,355 | 10,016 | 6,403 | 9,257 | 12,925 | 8,627 |
Interest Receivable | 890,133 | 339,763 | 227,780 | 296,581 | 364,498 | 4,968 | 37,019 | 24,823 | 0 | 0 | 0 | 6,113 | 588 | 15,810 |
Pre-Tax Profit | 9,036,878 | 14,953,385 | 8,089,283 | 9,379,569 | 9,837,112 | 6,095,400 | 8,020,598 | 7,118,735 | 7,233,389 | 4,628,647 | 4,381,944 | 2,527,919 | 1,743,109 | 1,015,876 |
Tax | -1,726,257 | -2,843,749 | -1,536,964 | -1,789,218 | -1,863,853 | -1,160,106 | -1,600,763 | -1,411,093 | -1,516,532 | -1,000,283 | -1,055,282 | -654,347 | -467,474 | -281,717 |
Profit After Tax | 7,310,621 | 12,109,636 | 6,552,319 | 7,590,351 | 7,973,259 | 4,935,294 | 6,419,835 | 5,707,642 | 5,716,857 | 3,628,364 | 3,326,662 | 1,873,572 | 1,275,635 | 734,159 |
Dividends Paid | 12,109,636 | 6,552,319 | 7,590,351 | 7,973,259 | 4,935,294 | 7,202,325 | 5,707,642 | 4,934,367 | 3,628,364 | 3,326,663 | 0 | 0 | 0 | 1,250,000 |
Retained Profit | -4,799,015 | 5,557,317 | -1,038,032 | -382,908 | 3,037,965 | -2,267,031 | 712,193 | 773,275 | 2,088,493 | 301,701 | 3,326,662 | 1,873,572 | 1,275,635 | -515,841 |
Employee Costs | 245,797 | 262,809 | 321,004 | 196,138 | 235,674 | 218,382 | 128,360 | 175,744 | 167,963 | 115,735 | 52,689 | 75,176 | 140,338 | 121,519 |
Number Of Employees | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2 | 2 | 2 | 2 | 2 |
EBITDA* | 8,163,318 | 14,617,604 | 7,877,569 | 9,084,689 | 9,472,614 | 6,092,647 | 7,990,053 | 7,110,799 | 7,241,446 | 4,638,663 | 4,388,347 | 2,531,063 | 1,755,446 | 1,008,693 |
* 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 | 0 | 0 | 0 | 0 | 0 | 0 | 1,180 | 2,359 | 0 | 702 | 1,404 | 0 | 0 | 0 |
Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments & Other | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 |
Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Total Fixed Assets | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 5,180 | 6,359 | 4,000 | 4,702 | 5,404 | 4,000 | 4,000 | 4,000 |
Stock & work in progress | 2,843,775 | 1,748,023 | 2,116,861 | 1,164,844 | 1,546,888 | 1,032,159 | 1,374,161 | 1,167,919 | 486,679 | 402,313 | 1,046,080 | 811,037 | 640,661 | 428,881 |
Trade Debtors | 1,775,048 | 6,090,654 | 3,656,335 | 2,880,893 | 3,628,420 | 2,349,439 | 2,307,071 | 2,976,949 | 1,897,006 | 1,623,795 | 1,294,942 | 961,466 | 1,769,538 | 1,475,690 |
Group Debtors | 20,166,375 | 12,287,817 | 4,522,352 | 3,904,034 | 9,991,290 | 8,807,746 | 6,732,060 | 10,911,146 | 8,105,887 | 2,876,065 | 2,778,013 | 0 | 0 | 0 |
Misc Debtors | 2,030,625 | 1,196,632 | 467,484 | 20,202 | 18,797 | 37,181 | 108,795 | 12,683 | 1,063,016 | 685,592 | 65,814 | 69,888 | 3,225,043 | 1,784,989 |
Cash | 2,929,428 | 3,591,109 | 1,321,734 | 4,196,950 | 2,615,435 | 2,950,898 | 1,992,870 | 6,931,772 | 6,956,417 | 6,305,839 | 4,380,797 | 3,475,891 | 2,814,892 | 3,283,057 |
misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
total current assets | 29,745,251 | 24,914,235 | 12,084,766 | 12,166,923 | 17,800,830 | 15,177,423 | 12,514,957 | 22,000,469 | 18,509,005 | 11,893,604 | 9,565,646 | 5,318,282 | 8,450,134 | 6,972,617 |
total assets | 29,749,251 | 24,918,235 | 12,088,766 | 12,170,923 | 17,804,830 | 15,181,423 | 12,520,137 | 22,006,828 | 18,513,005 | 11,898,306 | 9,571,050 | 5,322,282 | 8,454,134 | 6,976,617 |
Bank overdraft | 61 | 67 | 64 | 24 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 95,771 | 0 | 514,762 |
Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Trade Creditors | 4,817,982 | 2,718,528 | 1,509,083 | 2,098,305 | 3,027,345 | 3,234,321 | 3,653,011 | 4,495,695 | 4,011,163 | 3,291,676 | 2,563,763 | 1,904,908 | 1,798,173 | 1,546,516 |
Group/Directors Accounts | 17,195,938 | 9,066,997 | 3,677,088 | 621,780 | 5,532,842 | 6,233,007 | 160,575 | 9,773,899 | 6,502,542 | 3,217,651 | 2,402,365 | 382,061 | 249,500 | 249,500 |
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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
other current liabilities | 375,633 | 1,012,038 | 323,265 | 1,814,932 | 1,214,006 | 704,795 | 1,413,392 | 1,133,113 | 2,136,710 | 1,760,504 | 1,278,149 | 957,839 | 1,723,907 | 1,258,920 |
total current liabilities | 22,389,614 | 12,797,630 | 5,509,500 | 4,535,041 | 9,774,193 | 10,172,123 | 5,226,978 | 15,402,707 | 12,650,415 | 8,269,831 | 6,244,277 | 3,340,579 | 3,771,580 | 3,569,698 |
loans | 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 | 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
provisions | 48,906 | 10,859 | 26,837 | 45,421 | 57,268 | 73,896 | 90,724 | 113,879 | 145,623 | 0 | 0 | 0 | 0 | 0 |
total long term liabilities | 48,906 | 10,859 | 26,837 | 45,421 | 57,268 | 73,896 | 90,724 | 113,879 | 145,623 | 0 | 0 | 0 | 0 | 0 |
total liabilities | 22,438,520 | 12,808,489 | 5,536,337 | 4,580,462 | 9,831,461 | 10,246,019 | 5,317,702 | 15,516,586 | 12,796,038 | 8,269,831 | 6,244,277 | 3,340,579 | 3,771,580 | 3,569,698 |
net assets | 7,310,731 | 12,109,746 | 6,552,429 | 7,590,461 | 7,973,369 | 4,935,404 | 7,202,435 | 6,490,242 | 5,716,967 | 3,628,475 | 3,326,773 | 1,981,703 | 4,682,554 | 3,406,919 |
total shareholders funds | 7,310,731 | 12,109,746 | 6,552,429 | 7,590,461 | 7,973,369 | 4,935,404 | 7,202,435 | 6,490,242 | 5,716,967 | 3,628,475 | 3,326,773 | 1,981,703 | 4,682,554 | 3,406,919 |
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 | 8,163,318 | 14,617,604 | 7,877,569 | 9,084,689 | 9,472,614 | 6,091,468 | 7,988,874 | 7,109,620 | 7,240,744 | 4,638,663 | 4,388,347 | 2,531,063 | 1,755,446 | 1,008,693 |
Depreciation | 0 | 0 | 0 | 0 | 0 | 1,179 | 1,179 | 1,179 | 702 | 0 | 0 | 0 | 0 | 0 |
Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Tax | -1,726,257 | -2,843,749 | -1,536,964 | -1,789,218 | -1,863,853 | -1,160,106 | -1,600,763 | -1,411,093 | -1,516,532 | -1,000,283 | -1,055,282 | -654,347 | -467,474 | -281,717 |
Stock | 1,095,752 | -368,838 | 952,017 | -382,044 | 514,729 | -342,002 | 206,242 | 681,240 | 84,366 | -643,767 | 235,043 | 170,376 | 211,780 | 428,881 |
Debtors | 4,396,945 | 10,928,932 | 1,841,042 | -6,833,378 | 2,444,141 | 2,046,440 | -4,752,852 | 2,834,869 | 5,880,457 | 1,046,683 | 3,107,415 | -3,963,227 | 1,733,902 | 3,260,679 |
Creditors | 2,099,454 | 1,209,445 | -589,222 | -929,040 | -206,976 | -418,690 | -842,684 | 484,532 | 719,487 | 727,913 | 658,855 | 106,735 | 251,657 | 1,546,516 |
Accruals and Deferred Income | -636,405 | 688,773 | -1,491,667 | 600,926 | 509,211 | -708,597 | 280,279 | -1,003,597 | 376,206 | 482,355 | 320,310 | -766,068 | 464,987 | 1,258,920 |
Deferred Taxes & Provisions | 38,047 | -15,978 | -18,584 | -11,847 | -16,628 | -16,828 | -23,155 | -31,744 | 145,623 | 0 | 0 | 0 | 0 | 0 |
Cash flow from operations | 2,445,460 | 3,096,001 | 1,448,073 | 14,170,932 | 4,935,498 | 2,083,988 | 10,350,340 | 1,632,788 | 1,001,407 | 4,445,732 | 969,772 | 5,010,234 | 58,934 | -157,148 |
Investing Activities | ||||||||||||||
capital expenditure | 0 | 0 | ||||||||||||
Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4,000 |
cash flow from investments | 0 | -4,000 | ||||||||||||
Financing Activities | ||||||||||||||
Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Group/Directors Accounts | 8,128,941 | 5,389,909 | 3,055,308 | -4,911,062 | -700,165 | 6,072,432 | -9,613,324 | 3,271,357 | 3,284,891 | 815,286 | 2,020,304 | 132,561 | 0 | 249,500 |
Other Short Term Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Long term loans | 0 | 0 | 0 | 0 | 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
share issue | ||||||||||||||
interest | 873,560 | 335,781 | 211,714 | 294,880 | 364,498 | 3,932 | 31,724 | 9,115 | -7,355 | -10,016 | -6,403 | -3,144 | -12,337 | 7,183 |
cash flow from financing | 9,002,501 | 5,725,690 | 3,267,022 | -4,616,182 | -335,667 | 6,076,364 | -9,581,600 | 3,280,472 | 3,277,535 | 805,271 | 32,309 | -4,445,006 | -12,337 | 4,179,443 |
cash and cash equivalents | ||||||||||||||
cash | -661,681 | 2,269,375 | -2,875,216 | 1,581,515 | -335,463 | 958,028 | -4,938,902 | -24,645 | 650,578 | 1,925,042 | 904,906 | 660,999 | -468,165 | 3,283,057 |
overdraft | -6 | 3 | 40 | 24 | 0 | 0 | 0 | 0 | 0 | 0 | -95,771 | 95,771 | -514,762 | 514,762 |
change in cash | -661,675 | 2,269,372 | -2,875,256 | 1,581,491 | -335,463 | 958,028 | -4,938,902 | -24,645 | 650,578 | 1,925,042 | 1,000,677 | 565,228 | 46,597 | 2,768,295 |
w.i.p (work in progress) limited Credit Report and Business Information
W.i.p (work In Progress) Limited Competitor Analysis
Perform a competitor analysis for w.i.p (work in progress) limited by selecting its closest rivals and benchmarking them against 12 key performance metrics.
w.i.p (work in progress) limited Ownership
W.I.P (WORK IN PROGRESS) LIMITED group structure
W.I.P (Work In Progress) Limited has no subsidiary companies.
Ultimate parent company
1 parent
W.I.P (WORK IN PROGRESS) LIMITED
04715981
w.i.p (work in progress) limited directors
W.I.P (Work In Progress) Limited currently has 1 director, Mr Christopher Maughan serving since Jun 2003.
officer | country | age | start | end | role |
---|---|---|---|---|---|
Mr Christopher Maughan | 60 years | Jun 2003 | - | Director |
P&L
March 2023turnover
39.1m
-20%
operating profit
8.2m
-44%
gross margin
33.9%
-8.34%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
March 2023net assets
7.3m
-0.4%
total assets
29.7m
+0.19%
cash
2.9m
-0.18%
net assets
Total assets minus all liabilities
w.i.p (work in progress) limited company details
company number
04715981
Type
Private limited with Share Capital
industry
15200 - Manufacture of footwear
incorporation date
March 2003
age
21
accounts
Full Accounts
ultimate parent company
previous names
barron import export limited (July 2003)
incorporated
UK
address
32 portland terrace, newcastle upon tyne, tyne & wear, NE2 1QP
last accounts submitted
March 2023
w.i.p (work in progress) 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 2 charges/mortgages relating to w.i.p (work in progress) limited. Currently there are 2 open charges and 0 have been satisfied in the past.
w.i.p (work in progress) limited Companies House Filings - See Documents
date | description | view/download |
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