gasrec ltd Company Information
Company Number
04841866
Website
www.gasrec.co.ukRegistered Address
6th floor 60 gracechurch street, london, EC3V 0HR
Industry
Manufacture of gas
Telephone
02081917079
Next Accounts Due
September 2024
Group Structure
View All
Shareholders
44 north gas fuels l.p. 52.9%
britannic strategies limited 36.7%
View Allgasrec ltd Estimated Valuation
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
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
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
6 Strong
2 Regular
4 Weak
Size
annual sales of £62.2m, make it larger than the average company (£7.3m)
£62.2m - Gasrec Ltd
£7.3m - Industry AVG
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
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
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
with 41 employees, this is above the industry average (9)
41 - Gasrec Ltd
9 - Industry AVG
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
resulting in sales per employee of £1.5m, this is more efficient (£1.2m)
£1.5m - Gasrec Ltd
£1.2m - Industry AVG
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
Creditor Days
its suppliers are paid after 5 days, this is quicker than average (29 days)
5 days - Gasrec Ltd
29 days - Industry AVG
Stock Days
it holds stock equivalent to 6 days, this is less than average (44 days)
6 days - Gasrec Ltd
44 days - Industry AVG
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
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
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 House, Pomanda Estimates
Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Jun 2014 | Jun 2013 | Jun 2012 | Jun 2011 | Jun 2010 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Turnover | 62,168,000 | 34,435,000 | 14,253,000 | 3,733,000 | 2,156,000 | 8,709,000 | 5,562,000 | 3,491,891 | 1,535,554 | 852,335 | 427,395 | ||
Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Cost Of Sales | 56,316,000 | 28,409,000 | 12,016,000 | 3,970,000 | 3,169,000 | 11,182,000 | 8,243,000 | 5,107,121 | 3,345,276 | 2,474,729 | 2,317,513 | ||
Gross Profit | 5,852,000 | 6,026,000 | 2,237,000 | -237,000 | -1,013,000 | -2,473,000 | -2,681,000 | -1,615,230 | -1,809,722 | -1,622,394 | -1,890,118 | ||
Admin Expenses | 6,240,000 | 5,442,000 | 2,232,000 | 2,054,000 | 1,935,000 | 3,084,000 | -8,064,000 | 2,536,494 | 1,530,586 | 1,430,120 | 1,218,526 | ||
Operating Profit | -388,000 | 584,000 | 5,000 | -2,291,000 | -2,948,000 | -5,557,000 | 5,383,000 | -4,151,724 | -3,340,308 | -3,052,514 | -3,108,644 | ||
Interest Payable | 573,000 | 453,000 | 385,000 | 388,000 | 374,000 | 1,579,000 | 606,000 | 563,952 | 237,613 | 141,302 | 1,241 | ||
Interest Receivable | 11,000 | 3,000 | 742,000 | 214,000 | 0 | 5,000 | 5,000 | 8,650 | 4,329 | 0 | 8 | ||
Pre-Tax Profit | -950,000 | 134,000 | 362,000 | -2,465,000 | -3,322,000 | -7,131,000 | -5,984,000 | -4,707,026 | -3,573,592 | -3,193,816 | 8,525,951 | ||
Tax | 0 | 0 | 0 | -2,000 | 114,000 | 259,000 | 0 | 0 | 0 | 0 | 0 | ||
Profit After Tax | -950,000 | 134,000 | 362,000 | -2,467,000 | -3,208,000 | -6,872,000 | -5,984,000 | -4,707,026 | -3,573,592 | -3,193,816 | 8,525,951 | ||
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Retained Profit | -950,000 | 134,000 | 362,000 | -2,467,000 | -3,208,000 | -6,872,000 | -5,984,000 | -4,707,026 | -3,573,592 | -3,193,816 | 8,525,951 | ||
Employee Costs | 3,584,000 | 2,993,000 | 1,909,000 | 1,639,000 | 1,536,000 | 3,270,000 | 1,891,000 | 1,022,505 | 736,564 | 469,731 | 629,867 | ||
Number Of Employees | 41 | 28 | 22 | 21 | 22 | 21 | 23 | 33 | 24 | 19 | 9 | 7 | 6 |
EBITDA* | 479,000 | 1,289,000 | 716,000 | -1,544,000 | -2,060,000 | -3,083,000 | 6,971,000 | -2,906,663 | -2,364,603 | -2,172,258 | -2,311,951 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Jun 2014 | Jun 2013 | Jun 2012 | Jun 2011 | Jun 2010 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Tangible Assets | 12,006,000 | 7,938,000 | 4,961,000 | 5,327,000 | 6,032,000 | 7,218,000 | 6,943,000 | 8,152,000 | 8,946,000 | 9,240,086 | 3,874,089 | 3,879,944 | 3,923,936 |
Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Total Fixed Assets | 12,006,000 | 7,938,000 | 4,961,000 | 5,327,000 | 6,032,000 | 7,218,000 | 6,943,000 | 8,152,000 | 8,946,000 | 9,240,086 | 3,874,089 | 3,879,944 | 3,923,936 |
Stock & work in progress | 958,000 | 519,000 | 264,000 | 179,000 | 139,000 | 110,000 | 127,000 | 200,000 | 174,000 | 206,179 | 377,166 | 0 | 0 |
Trade Debtors | 9,753,000 | 5,398,000 | 1,544,000 | 798,000 | 536,000 | 254,000 | 374,000 | 1,252,000 | 1,524,000 | 857,082 | 574,909 | 179,233 | 91,777 |
Group Debtors | 12,531,000 | 11,033,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Misc Debtors | 4,989,000 | 6,724,000 | 6,147,000 | 1,511,000 | 609,000 | 637,000 | 826,000 | 675,000 | 544,000 | 1,567,805 | 1,456,901 | 560,230 | 203,697 |
Cash | 8,525,000 | 6,262,000 | 2,060,000 | 1,394,000 | 628,000 | 849,000 | 595,000 | 1,117,000 | 829,000 | 911,182 | 722,195 | 489,723 | 1,022,439 |
misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
total current assets | 36,756,000 | 29,936,000 | 10,015,000 | 3,882,000 | 1,912,000 | 1,850,000 | 1,922,000 | 3,244,000 | 3,071,000 | 3,542,248 | 3,131,171 | 1,229,186 | 1,317,913 |
total assets | 48,762,000 | 37,874,000 | 14,976,000 | 9,209,000 | 7,944,000 | 9,068,000 | 8,865,000 | 11,396,000 | 12,017,000 | 12,782,334 | 7,005,260 | 5,109,130 | 5,241,849 |
Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Trade Creditors | 841,000 | 5,111,000 | 780,000 | 616,000 | 474,000 | 217,000 | 286,000 | 247,000 | 864,000 | 1,253,526 | 689,052 | 595,685 | 458,462 |
Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
other short term finances | 6,606,000 | 327,000 | 1,362,000 | 0 | 0 | 3,675,000 | 0 | 6,677,000 | 4,238,000 | 3,860,340 | 205,161 | 1,286,440 | 0 |
hp & lease commitments | 174,000 | 90,000 | 87,000 | 83,000 | 80,000 | 213,000 | 215,000 | 267,000 | 346,000 | 45,829 | 241,189 | 0 | 0 |
other current liabilities | 18,897,000 | 11,886,000 | 5,173,000 | 1,178,000 | 1,086,000 | 606,000 | 671,000 | 2,477,000 | 1,444,000 | 986,330 | 664,371 | 480,657 | 630,798 |
total current liabilities | 26,518,000 | 17,414,000 | 7,402,000 | 1,877,000 | 1,640,000 | 4,711,000 | 1,172,000 | 9,668,000 | 6,892,000 | 6,146,025 | 1,799,773 | 2,362,782 | 1,089,260 |
loans | 1,496,000 | 5,040,000 | 3,393,000 | 3,084,000 | 3,733,000 | 0 | 3,342,000 | 4,888,000 | 160,000 | 408,657 | 622,828 | 1,026,410 | 0 |
hp & lease commitments | 847,000 | 251,000 | 341,000 | 428,000 | 512,000 | 592,000 | 121,000 | 336,000 | 775,000 | 812,488 | 107,078 | 0 | 0 |
Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
other liabilities | 217,000 | 535,000 | 0 | 4,447,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
total long term liabilities | 2,560,000 | 5,826,000 | 3,734,000 | 7,959,000 | 4,245,000 | 592,000 | 3,463,000 | 5,224,000 | 935,000 | 1,221,145 | 729,906 | 1,026,410 | 0 |
total liabilities | 29,078,000 | 23,240,000 | 11,136,000 | 9,836,000 | 5,885,000 | 5,303,000 | 4,635,000 | 14,892,000 | 7,827,000 | 7,367,170 | 2,529,679 | 3,389,192 | 1,089,260 |
net assets | 19,684,000 | 14,634,000 | 3,840,000 | -627,000 | 2,059,000 | 3,765,000 | 4,230,000 | -3,496,000 | 4,190,000 | 5,415,164 | 4,475,581 | 1,719,938 | 4,152,589 |
total shareholders funds | 19,684,000 | 14,634,000 | 3,840,000 | -627,000 | 2,059,000 | 3,765,000 | 4,230,000 | -3,496,000 | 4,190,000 | 5,415,164 | 4,475,581 | 1,719,938 | 4,152,589 |
Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Jun 2014 | Jun 2013 | Jun 2012 | Jun 2011 | Jun 2010 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities | |||||||||||||
Operating Profit | -388,000 | 584,000 | 5,000 | -2,291,000 | -2,948,000 | -5,557,000 | 5,383,000 | -4,151,724 | -3,340,308 | -3,052,514 | -3,108,644 | ||
Depreciation | 867,000 | 705,000 | 711,000 | 747,000 | 888,000 | 871,000 | 628,000 | 2,474,000 | 1,588,000 | 1,245,061 | 975,705 | 880,256 | 796,693 |
Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Tax | 0 | 0 | 0 | -2,000 | 114,000 | 259,000 | 0 | 0 | 0 | 0 | 0 | ||
Stock | 439,000 | 255,000 | 85,000 | 40,000 | 29,000 | -17,000 | -73,000 | 26,000 | -32,179 | -170,987 | 377,166 | 0 | 0 |
Debtors | 4,118,000 | 15,464,000 | 5,382,000 | 1,164,000 | 254,000 | -309,000 | -727,000 | -141,000 | -356,887 | 393,077 | 1,292,347 | 443,989 | 295,474 |
Creditors | -4,270,000 | 4,331,000 | 164,000 | 142,000 | 257,000 | -69,000 | 39,000 | -617,000 | -389,526 | 564,474 | 93,367 | 137,223 | 458,462 |
Accruals and Deferred Income | 7,011,000 | 6,713,000 | 3,995,000 | 92,000 | 480,000 | -65,000 | -1,806,000 | 1,033,000 | 457,670 | 321,959 | 183,714 | -150,141 | 630,798 |
Deferred Taxes & Provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash flow from operations | -1,337,000 | -3,386,000 | -592,000 | -2,516,000 | -1,492,000 | -2,293,000 | 7,428,210 | -2,242,320 | -3,757,035 | -2,629,165 | -1,518,165 | ||
Investing Activities | |||||||||||||
capital expenditure | 0 | 0 | -5,723,558 | -985,853 | -836,264 | 11,367,864 | |||||||
Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
cash flow from investments | 0 | 0 | -5,723,558 | -985,853 | -836,264 | 11,367,864 | |||||||
Financing Activities | |||||||||||||
Bank loans | 0 | 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 |
Other Short Term Loans | 6,279,000 | -1,035,000 | 1,362,000 | 0 | -3,675,000 | 3,675,000 | -6,677,000 | 2,439,000 | 377,660 | 3,655,179 | -1,081,279 | 1,286,440 | 0 |
Long term loans | -3,544,000 | 1,647,000 | 309,000 | -649,000 | 3,733,000 | -3,342,000 | -1,546,000 | 4,728,000 | -248,657 | -214,171 | -403,582 | 1,026,410 | 0 |
Hire Purchase and Lease Commitments | 680,000 | -87,000 | -83,000 | -81,000 | -213,000 | 469,000 | -267,000 | -518,000 | 262,683 | 510,050 | 348,267 | 0 | 0 |
other long term liabilities | -318,000 | 535,000 | -4,447,000 | 4,447,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
share issue | |||||||||||||
interest | -562,000 | -450,000 | 357,000 | -174,000 | -374,000 | -1,574,000 | -601,000 | -555,302 | -233,284 | -141,302 | -1,233 | ||
cash flow from financing | 8,535,000 | 11,270,000 | 1,603,000 | 3,324,000 | 973,000 | 4,261,000 | 4,549,522 | 9,042,365 | 4,959,357 | 2,932,713 | -4,374,595 | ||
cash and cash equivalents | |||||||||||||
cash | 2,263,000 | 4,202,000 | 666,000 | 766,000 | -221,000 | 254,000 | -522,000 | 288,000 | -82,182 | 188,987 | 232,472 | -532,716 | 1,022,439 |
overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
change in cash | 2,263,000 | 4,202,000 | 666,000 | 766,000 | -221,000 | 254,000 | -522,000 | 288,000 | -82,182 | 188,987 | 232,472 | -532,716 | 1,022,439 |
gasrec ltd Credit Report and Business Information
Gasrec Ltd Competitor Analysis
Perform a competitor analysis for gasrec ltd by selecting its closest rivals and benchmarking them against 12 key performance metrics.
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 directors
Gasrec Ltd currently has 6 directors. The longest serving directors include Mr Michael Fretwell (Dec 2011) and Mr Patrick Mocatta (Dec 2011).
officer | country | age | start | end | role |
---|---|---|---|---|---|
Mr Michael Fretwell | 72 years | Dec 2011 | - | Director | |
Mr Patrick Mocatta | England | 75 years | Dec 2011 | - | Director |
Mr Robert Wood | United Kingdom | 59 years | May 2013 | - | Director |
Mr Brian Cutler | United Kingdom | 52 years | Sep 2016 | - | Director |
Mr Scott Hare | United Kingdom | 46 years | Dec 2021 | - | Director |
Mr Christopher Manson | 64 years | Sep 2023 | - | Director |
P&L
December 2022turnover
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 2022net 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
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.
gasrec ltd Companies House Filings - See Documents
date | description | view/download |
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