gasrec ltd

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gasrec ltd Company Information

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Company Number

04841866

Registered Address

6th floor 60 gracechurch street, london, EC3V 0HR

Industry

Manufacture of gas

 

Telephone

02081917079

Next Accounts Due

September 2024

Group Structure

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Directors

Michael Fretwell12 Years

Patrick Mocatta12 Years

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Shareholders

44 north gas fuels l.p. 52.9%

britannic strategies limited 36.7%

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gasrec ltd Estimated Valuation

£104.9m

Pomanda estimates the enterprise value of GASREC LTD at £104.9m based on a Turnover of £62.2m and 1.69x industry multiple (adjusted for size and gross margin).

gasrec ltd Estimated Valuation

£3.1m

Pomanda estimates the enterprise value of GASREC LTD at £3.1m based on an EBITDA of £479k and a 6.45x industry multiple (adjusted for size and gross margin).

gasrec ltd Estimated Valuation

£48.7m

Pomanda estimates the enterprise value of GASREC LTD at £48.7m based on Net Assets of £19.7m and 2.48x industry multiple (adjusted for liquidity).

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Gasrec Ltd Overview

Gasrec Ltd is a live company located in london, EC3V 0HR with a Companies House number of 04841866. It operates in the manufacture of gas sector, SIC Code 35210. Founded in July 2003, it's largest shareholder is 44 north gas fuels l.p. with a 52.9% stake. Gasrec Ltd is a mature, large sized company, Pomanda has estimated its turnover at £62.2m with rapid growth in recent years.

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Gasrec Ltd Health Check

Pomanda's financial health check has awarded Gasrec Ltd 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 £62.2m, make it larger than the average company (£7.3m)

£62.2m - Gasrec Ltd

£7.3m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of 155%, show it is growing at a faster rate (19.1%)

155% - Gasrec Ltd

19.1% - Industry AVG

production

Production

with a gross margin of 9.4%, this company has a higher cost of product (46.8%)

9.4% - Gasrec Ltd

46.8% - Industry AVG

profitability

Profitability

an operating margin of -0.6% make it less profitable than the average company (10.4%)

-0.6% - Gasrec Ltd

10.4% - Industry AVG

employees

Employees

with 41 employees, this is above the industry average (9)

41 - Gasrec Ltd

9 - Industry AVG

paystructure

Pay Structure

on an average salary of £87.4k, the company has an equivalent pay structure (£76.4k)

£87.4k - Gasrec Ltd

£76.4k - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £1.5m, this is more efficient (£1.2m)

£1.5m - Gasrec Ltd

£1.2m - Industry AVG

debtordays

Debtor Days

it gets paid by customers after 57 days, this is later than average (14 days)

57 days - Gasrec Ltd

14 days - Industry AVG

creditordays

Creditor Days

its suppliers are paid after 5 days, this is quicker than average (29 days)

5 days - Gasrec Ltd

29 days - Industry AVG

stockdays

Stock Days

it holds stock equivalent to 6 days, this is less than average (44 days)

6 days - Gasrec Ltd

44 days - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 16 weeks, this is average cash available to meet short term requirements (14 weeks)

16 weeks - Gasrec Ltd

14 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 59.6%, this is a lower level of debt than the average (105.7%)

59.6% - Gasrec Ltd

105.7% - Industry AVG

GASREC LTD financials

EXPORTms excel logo

Gasrec Ltd's latest turnover from December 2022 is £62.2 million and the company has net assets of £19.7 million. According to their latest financial statements, Gasrec Ltd has 41 employees and maintains cash reserves of £8.5 million as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Jun 2014Jun 2013Jun 2012Jun 2011Jun 2010
Turnover62,168,00034,435,00014,253,0003,733,0002,156,0004,943,0385,747,3788,709,0005,562,0003,491,8911,535,554852,335427,395
Other Income Or Grants0000000000000
Cost Of Sales56,316,00028,409,00012,016,0003,970,0003,169,0003,058,8803,668,52311,182,0008,243,0005,107,1213,345,2762,474,7292,317,513
Gross Profit5,852,0006,026,0002,237,000-237,000-1,013,0001,884,1582,078,856-2,473,000-2,681,000-1,615,230-1,809,722-1,622,394-1,890,118
Admin Expenses6,240,0005,442,0002,232,0002,054,0001,935,0003,362,7154,796,1523,084,000-8,064,0002,536,4941,530,5861,430,1201,218,526
Operating Profit-388,000584,0005,000-2,291,000-2,948,000-1,478,557-2,717,296-5,557,0005,383,000-4,151,724-3,340,308-3,052,514-3,108,644
Interest Payable573,000453,000385,000388,000374,000228,053465,8441,579,000606,000563,952237,613141,3021,241
Interest Receivable11,0003,000742,000214,00003,6102,1405,0005,0008,6504,32908
Pre-Tax Profit-950,000134,000362,000-2,465,000-3,322,000-1,703,000-3,181,000-7,131,000-5,984,000-4,707,026-3,573,592-3,193,8168,525,951
Tax000-2,000114,00000259,00000000
Profit After Tax-950,000134,000362,000-2,467,000-3,208,000-1,703,000-3,181,000-6,872,000-5,984,000-4,707,026-3,573,592-3,193,8168,525,951
Dividends Paid0000000000000
Retained Profit-950,000134,000362,000-2,467,000-3,208,000-1,703,000-3,181,000-6,872,000-5,984,000-4,707,026-3,573,592-3,193,8168,525,951
Employee Costs3,584,0002,993,0001,909,0001,639,0001,536,0001,420,4261,818,0963,270,0001,891,0001,022,505736,564469,731629,867
Number Of Employees41282221222123332419976
EBITDA*479,0001,289,000716,000-1,544,000-2,060,000-607,557-2,089,296-3,083,0006,971,000-2,906,663-2,364,603-2,172,258-2,311,951

* Earnings Before Interest, Tax, Depreciation and Amortisation

Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Jun 2014Jun 2013Jun 2012Jun 2011Jun 2010
Tangible Assets12,006,0007,938,0004,961,0005,327,0006,032,0007,218,0006,943,0008,152,0008,946,0009,240,0863,874,0893,879,9443,923,936
Intangible Assets0000000000000
Investments & Other0000000000000
Debtors (Due After 1 year)0000000000000
Total Fixed Assets12,006,0007,938,0004,961,0005,327,0006,032,0007,218,0006,943,0008,152,0008,946,0009,240,0863,874,0893,879,9443,923,936
Stock & work in progress958,000519,000264,000179,000139,000110,000127,000200,000174,000206,179377,16600
Trade Debtors9,753,0005,398,0001,544,000798,000536,000254,000374,0001,252,0001,524,000857,082574,909179,23391,777
Group Debtors12,531,00011,033,00000000000000
Misc Debtors4,989,0006,724,0006,147,0001,511,000609,000637,000826,000675,000544,0001,567,8051,456,901560,230203,697
Cash8,525,0006,262,0002,060,0001,394,000628,000849,000595,0001,117,000829,000911,182722,195489,7231,022,439
misc current assets0000000000000
total current assets36,756,00029,936,00010,015,0003,882,0001,912,0001,850,0001,922,0003,244,0003,071,0003,542,2483,131,1711,229,1861,317,913
total assets48,762,00037,874,00014,976,0009,209,0007,944,0009,068,0008,865,00011,396,00012,017,00012,782,3347,005,2605,109,1305,241,849
Bank overdraft0000000000000
Bank loan0000000000000
Trade Creditors 841,0005,111,000780,000616,000474,000217,000286,000247,000864,0001,253,526689,052595,685458,462
Group/Directors Accounts0000000000000
other short term finances6,606,000327,0001,362,000003,675,00006,677,0004,238,0003,860,340205,1611,286,4400
hp & lease commitments174,00090,00087,00083,00080,000213,000215,000267,000346,00045,829241,18900
other current liabilities18,897,00011,886,0005,173,0001,178,0001,086,000606,000671,0002,477,0001,444,000986,330664,371480,657630,798
total current liabilities26,518,00017,414,0007,402,0001,877,0001,640,0004,711,0001,172,0009,668,0006,892,0006,146,0251,799,7732,362,7821,089,260
loans1,496,0005,040,0003,393,0003,084,0003,733,00003,342,0004,888,000160,000408,657622,8281,026,4100
hp & lease commitments847,000251,000341,000428,000512,000592,000121,000336,000775,000812,488107,07800
Accruals and Deferred Income0000000000000
other liabilities217,000535,00004,447,000000000000
provisions0000000000000
total long term liabilities2,560,0005,826,0003,734,0007,959,0004,245,000592,0003,463,0005,224,000935,0001,221,145729,9061,026,4100
total liabilities29,078,00023,240,00011,136,0009,836,0005,885,0005,303,0004,635,00014,892,0007,827,0007,367,1702,529,6793,389,1921,089,260
net assets19,684,00014,634,0003,840,000-627,0002,059,0003,765,0004,230,000-3,496,0004,190,0005,415,1644,475,5811,719,9384,152,589
total shareholders funds19,684,00014,634,0003,840,000-627,0002,059,0003,765,0004,230,000-3,496,0004,190,0005,415,1644,475,5811,719,9384,152,589
Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Jun 2014Jun 2013Jun 2012Jun 2011Jun 2010
Operating Activities
Operating Profit-388,000584,0005,000-2,291,000-2,948,000-1,478,557-2,717,296-5,557,0005,383,000-4,151,724-3,340,308-3,052,514-3,108,644
Depreciation867,000705,000711,000747,000888,000871,000628,0002,474,0001,588,0001,245,061975,705880,256796,693
Amortisation0000000000000
Tax000-2,000114,00000259,00000000
Stock439,000255,00085,00040,00029,000-17,000-73,00026,000-32,179-170,987377,16600
Debtors4,118,00015,464,0005,382,0001,164,000254,000-309,000-727,000-141,000-356,887393,0771,292,347443,989295,474
Creditors-4,270,0004,331,000164,000142,000257,000-69,00039,000-617,000-389,526564,47493,367137,223458,462
Accruals and Deferred Income7,011,0006,713,0003,995,00092,000480,000-65,000-1,806,0001,033,000457,670321,959183,714-150,141630,798
Deferred Taxes & Provisions0000000000000
Cash flow from operations-1,337,000-3,386,000-592,000-2,516,000-1,492,000-415,557-3,056,296-2,293,0007,428,210-2,242,320-3,757,035-2,629,165-1,518,165
Investing Activities
capital expenditure00-345,000-42,000298,000-1,146,000581,000-1,680,000-1,293,914-5,723,558-985,853-836,26411,367,864
Change in Investments0000000000000
cash flow from investments00-345,000-42,000298,000-1,146,000581,000-1,680,000-1,293,914-5,723,558-985,853-836,26411,367,864
Financing Activities
Bank loans0000000000000
Group/Directors Accounts0000000000000
Other Short Term Loans 6,279,000-1,035,0001,362,0000-3,675,0003,675,000-6,677,0002,439,000377,6603,655,179-1,081,2791,286,4400
Long term loans-3,544,0001,647,000309,000-649,0003,733,000-3,342,000-1,546,0004,728,000-248,657-214,171-403,5821,026,4100
Hire Purchase and Lease Commitments680,000-87,000-83,000-81,000-213,000469,000-267,000-518,000262,683510,050348,26700
other long term liabilities-318,000535,000-4,447,0004,447,000000000000
share issue6,000,00010,660,0004,105,000-219,0001,502,0001,238,00010,907,000-814,0004,758,8365,646,6096,329,235761,165-4,373,362
interest-562,000-450,000357,000-174,000-374,000-224,443-463,704-1,574,000-601,000-555,302-233,284-141,302-1,233
cash flow from financing8,535,00011,270,0001,603,0003,324,000973,0001,815,5571,953,2964,261,0004,549,5229,042,3654,959,3572,932,713-4,374,595
cash and cash equivalents
cash2,263,0004,202,000666,000766,000-221,000254,000-522,000288,000-82,182188,987232,472-532,7161,022,439
overdraft0000000000000
change in cash2,263,0004,202,000666,000766,000-221,000254,000-522,000288,000-82,182188,987232,472-532,7161,022,439

gasrec ltd 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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Gasrec Ltd Competitor Analysis

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gasrec ltd Ownership

GASREC LTD group structure

Gasrec Ltd has 1 subsidiary company.

Ultimate parent company

PAK HOLDING CORP

#0080060

1 parent

GASREC LTD

04841866

1 subsidiary

GASREC LTD Shareholders

44 north gas fuels l.p. 52.93%
britannic strategies limited 36.67%
william philip richards 3.13%
patrick jacques elkin mocatta 3.06%
andrew peter jong 1.63%
michael robert fretwell 0.75%
robert ian frank wood 0.51%
roger alan cornish 0.38%
mark edward denning 0.29%
stalin bharti 0.13%

gasrec ltd directors

Gasrec Ltd currently has 6 directors. The longest serving directors include Mr Michael Fretwell (Dec 2011) and Mr Patrick Mocatta (Dec 2011).

officercountryagestartendrole
Mr Michael Fretwell72 years Dec 2011- Director
Mr Patrick MocattaEngland75 years Dec 2011- Director
Mr Robert WoodUnited Kingdom59 years May 2013- Director
Mr Brian CutlerUnited Kingdom52 years Sep 2016- Director
Mr Scott HareUnited Kingdom46 years Dec 2021- Director
Mr Christopher Manson64 years Sep 2023- Director

P&L

December 2022

turnover

62.2m

+81%

operating profit

-388k

-166%

gross margin

9.5%

-46.21%

turnover

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

Balance Sheet

December 2022

net assets

19.7m

+0.35%

total assets

48.8m

+0.29%

cash

8.5m

+0.36%

net assets

Total assets minus all liabilities

gasrec ltd company details

company number

04841866

Type

Private limited with Share Capital

industry

35210 - Manufacture of gas

incorporation date

July 2003

age

21

accounts

Full Accounts

ultimate parent company

PAK HOLDING CORP

previous names

N/A

incorporated

UK

address

6th floor 60 gracechurch street, london, EC3V 0HR

last accounts submitted

December 2022

gasrec ltd 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 15 charges/mortgages relating to gasrec ltd. Currently there are 1 open charges and 14 have been satisfied in the past.

charges

gasrec ltd Companies House Filings - See Documents

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