w.i.p (work in progress) limited

5

w.i.p (work in progress) limited Company Information

Share W.I.P (WORK IN PROGRESS) LIMITED
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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

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Directors

Christopher Maughan20 Years

Shareholders

dragonfly venture group ltd 100%

w.i.p (work in progress) limited Estimated Valuation

£67.6m

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

£98.7m

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

£23.5m

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

Health Check Image
Health Rating5out of 5
positive_score

6 Strong

positive_score

2 Regular

positive_score

4 Weak

size

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

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

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

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

Employees

with 3 employees, this is below the industry average (88)

3 - W.i.p (work In Progress) Limited

88 - Industry AVG

paystructure

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

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

debtordays

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

creditordays

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

stockdays

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

cashbalance

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

debtlevel

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

EXPORTms excel logo

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 HousePomanda Estimates

Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016Mar 2015Mar 2014Mar 2013Mar 2012Mar 2011Mar 2010
Turnover39,061,21548,922,29831,032,56133,656,06535,399,59626,132,93125,547,95024,063,89119,661,61520,725,46813,741,70712,206,4179,130,7657,533,405
Other Income Or Grants00000000000000
Cost Of Sales25,849,87230,870,88220,931,68522,564,89624,076,22317,651,75617,863,13116,847,43913,555,80114,467,84110,869,7099,545,3267,029,3605,176,366
Gross Profit13,211,34318,051,41610,100,87611,091,16911,323,3738,481,1757,684,8197,216,4526,105,8146,257,6272,871,9982,661,0912,101,4052,357,039
Admin Expenses5,048,0253,433,8122,223,3072,006,4801,850,7592,389,707-304,055106,832-1,134,9301,618,964-1,516,349130,028345,9591,348,346
Operating Profit8,163,31814,617,6047,877,5699,084,6899,472,6146,091,4687,988,8747,109,6207,240,7444,638,6634,388,3472,531,0631,755,4461,008,693
Interest Payable16,5733,98216,0661,70101,0365,29515,7087,35510,0166,4039,25712,9258,627
Interest Receivable890,133339,763227,780296,581364,4984,96837,01924,8230006,11358815,810
Pre-Tax Profit9,036,87814,953,3858,089,2839,379,5699,837,1126,095,4008,020,5987,118,7357,233,3894,628,6474,381,9442,527,9191,743,1091,015,876
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 Tax7,310,62112,109,6366,552,3197,590,3517,973,2594,935,2946,419,8355,707,6425,716,8573,628,3643,326,6621,873,5721,275,635734,159
Dividends Paid12,109,6366,552,3197,590,3517,973,2594,935,2947,202,3255,707,6424,934,3673,628,3643,326,6630001,250,000
Retained Profit-4,799,0155,557,317-1,038,032-382,9083,037,965-2,267,031712,193773,2752,088,493301,7013,326,6621,873,5721,275,635-515,841
Employee Costs245,797262,809321,004196,138235,674218,382128,360175,744167,963115,73552,68975,176140,338121,519
Number Of Employees33333333322222
EBITDA*8,163,31814,617,6047,877,5699,084,6899,472,6146,092,6477,990,0537,110,7997,241,4464,638,6634,388,3472,531,0631,755,4461,008,693

* Earnings Before Interest, Tax, Depreciation and Amortisation

Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016Mar 2015Mar 2014Mar 2013Mar 2012Mar 2011Mar 2010
Tangible Assets0000001,1802,35907021,404000
Intangible Assets00000000000000
Investments & Other4,0004,0004,0004,0004,0004,0004,0004,0004,0004,0004,0004,0004,0004,000
Debtors (Due After 1 year)00000000000000
Total Fixed Assets4,0004,0004,0004,0004,0004,0005,1806,3594,0004,7025,4044,0004,0004,000
Stock & work in progress2,843,7751,748,0232,116,8611,164,8441,546,8881,032,1591,374,1611,167,919486,679402,3131,046,080811,037640,661428,881
Trade Debtors1,775,0486,090,6543,656,3352,880,8933,628,4202,349,4392,307,0712,976,9491,897,0061,623,7951,294,942961,4661,769,5381,475,690
Group Debtors20,166,37512,287,8174,522,3523,904,0349,991,2908,807,7466,732,06010,911,1468,105,8872,876,0652,778,013000
Misc Debtors2,030,6251,196,632467,48420,20218,79737,181108,79512,6831,063,016685,59265,81469,8883,225,0431,784,989
Cash2,929,4283,591,1091,321,7344,196,9502,615,4352,950,8981,992,8706,931,7726,956,4176,305,8394,380,7973,475,8912,814,8923,283,057
misc current assets00000000000000
total current assets29,745,25124,914,23512,084,76612,166,92317,800,83015,177,42312,514,95722,000,46918,509,00511,893,6049,565,6465,318,2828,450,1346,972,617
total assets29,749,25124,918,23512,088,76612,170,92317,804,83015,181,42312,520,13722,006,82818,513,00511,898,3069,571,0505,322,2828,454,1346,976,617
Bank overdraft61676424000000095,7710514,762
Bank loan00000000000000
Trade Creditors 4,817,9822,718,5281,509,0832,098,3053,027,3453,234,3213,653,0114,495,6954,011,1633,291,6762,563,7631,904,9081,798,1731,546,516
Group/Directors Accounts17,195,9389,066,9973,677,088621,7805,532,8426,233,007160,5759,773,8996,502,5423,217,6512,402,365382,061249,500249,500
other short term finances00000000000000
hp & lease commitments00000000000000
other current liabilities375,6331,012,038323,2651,814,9321,214,006704,7951,413,3921,133,1132,136,7101,760,5041,278,149957,8391,723,9071,258,920
total current liabilities22,389,61412,797,6305,509,5004,535,0419,774,19310,172,1235,226,97815,402,70712,650,4158,269,8316,244,2773,340,5793,771,5803,569,698
loans00000000000000
hp & lease commitments00000000000000
Accruals and Deferred Income00000000000000
other liabilities00000000000000
provisions48,90610,85926,83745,42157,26873,89690,724113,879145,62300000
total long term liabilities48,90610,85926,83745,42157,26873,89690,724113,879145,62300000
total liabilities22,438,52012,808,4895,536,3374,580,4629,831,46110,246,0195,317,70215,516,58612,796,0388,269,8316,244,2773,340,5793,771,5803,569,698
net assets7,310,73112,109,7466,552,4297,590,4617,973,3694,935,4047,202,4356,490,2425,716,9673,628,4753,326,7731,981,7034,682,5543,406,919
total shareholders funds7,310,73112,109,7466,552,4297,590,4617,973,3694,935,4047,202,4356,490,2425,716,9673,628,4753,326,7731,981,7034,682,5543,406,919
Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016Mar 2015Mar 2014Mar 2013Mar 2012Mar 2011Mar 2010
Operating Activities
Operating Profit8,163,31814,617,6047,877,5699,084,6899,472,6146,091,4687,988,8747,109,6207,240,7444,638,6634,388,3472,531,0631,755,4461,008,693
Depreciation000001,1791,1791,17970200000
Amortisation00000000000000
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
Stock1,095,752-368,838952,017-382,044514,729-342,002206,242681,24084,366-643,767235,043170,376211,780428,881
Debtors4,396,94510,928,9321,841,042-6,833,3782,444,1412,046,440-4,752,8522,834,8695,880,4571,046,6833,107,415-3,963,2271,733,9023,260,679
Creditors2,099,4541,209,445-589,222-929,040-206,976-418,690-842,684484,532719,487727,913658,855106,735251,6571,546,516
Accruals and Deferred Income-636,405688,773-1,491,667600,926509,211-708,597280,279-1,003,597376,206482,355320,310-766,068464,9871,258,920
Deferred Taxes & Provisions38,047-15,978-18,584-11,847-16,628-16,828-23,155-31,744145,62300000
Cash flow from operations2,445,4603,096,0011,448,07314,170,9324,935,4982,083,98810,350,3401,632,7881,001,4074,445,732969,7725,010,23458,934-157,148
Investing Activities
capital expenditure0000010-3,5380702-1,404000
Change in Investments00000000000004,000
cash flow from investments0000010-3,5380702-1,40400-4,000
Financing Activities
Bank loans00000000000000
Group/Directors Accounts8,128,9415,389,9093,055,308-4,911,062-700,1656,072,432-9,613,3243,271,3573,284,891815,2862,020,304132,5610249,500
Other Short Term Loans 00000000000000
Long term loans00000000000000
Hire Purchase and Lease Commitments00000000000000
other long term liabilities00000000000000
share issue00000000-11-1,981,592-4,574,42303,922,760
interest873,560335,781211,714294,880364,4983,93231,7249,115-7,355-10,016-6,403-3,144-12,3377,183
cash flow from financing9,002,5015,725,6903,267,022-4,616,182-335,6676,076,364-9,581,6003,280,4723,277,535805,27132,309-4,445,006-12,3374,179,443
cash and cash equivalents
cash-661,6812,269,375-2,875,2161,581,515-335,463958,028-4,938,902-24,645650,5781,925,042904,906660,999-468,1653,283,057
overdraft-634024000000-95,77195,771-514,762514,762
change in cash-661,6752,269,372-2,875,2561,581,491-335,463958,028-4,938,902-24,645650,5781,925,0421,000,677565,22846,5972,768,295

w.i.p (work in progress) limited Credit Report and Business Information

Very Low Risk70 - 100
Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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W.i.p (work In Progress) Limited Competitor Analysis

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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 Shareholders

dragonfly venture group ltd 100%

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.

officercountryagestartendrole
Mr Christopher Maughan60 years Jun 2003- Director

P&L

March 2023

turnover

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 2023

net 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.

charges

w.i.p (work in progress) limited Companies House Filings - See Documents

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