source eight limited
source eight limited Company Information
Company Number
05004767
Next Accounts
91 days late
Shareholders
mitie treasury management limited
mitie group plc
Group Structure
View All
Industry
Management consultancy activities (other than financial management)
Registered Address
level 12 the shard, 32 london bridge street, london, SE1 9SG
Website
www.source8.comsource eight limited Estimated Valuation
Pomanda estimates the enterprise value of SOURCE EIGHT LIMITED at £326.9k based on a Turnover of £760k and 0.43x industry multiple (adjusted for size and gross margin).
source eight limited Estimated Valuation
Pomanda estimates the enterprise value of SOURCE EIGHT LIMITED at £648.7k based on an EBITDA of £175k and a 3.71x industry multiple (adjusted for size and gross margin).
source eight limited Estimated Valuation
Pomanda estimates the enterprise value of SOURCE EIGHT LIMITED at £3.3m based on Net Assets of £1.3m and 2.61x industry multiple (adjusted for liquidity).
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Source Eight Limited Overview
Source Eight Limited is a live company located in london, SE1 9SG with a Companies House number of 05004767. It operates in the management consultancy activities other than financial management sector, SIC Code 70229. Founded in December 2003, it's largest shareholder is mitie treasury management limited with a 51% stake. Source Eight Limited is a mature, small sized company, Pomanda has estimated its turnover at £760k with declining growth in recent years.
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Source Eight Limited Health Check
Pomanda's financial health check has awarded Source Eight Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 3 areas for improvement. Company Health Check FAQs
7 Strong
1 Regular
3 Weak
Size
annual sales of £760k, make it larger than the average company (£451.2k)
£760k - Source Eight Limited
£451.2k - Industry AVG
Growth
3 year (CAGR) sales growth of -46%, show it is growing at a slower rate (5.9%)
-46% - Source Eight Limited
5.9% - Industry AVG
Production
with a gross margin of 45.3%, this company has a higher cost of product (57.8%)
45.3% - Source Eight Limited
57.8% - Industry AVG
Profitability
an operating margin of 23% make it more profitable than the average company (8.7%)
23% - Source Eight Limited
8.7% - Industry AVG
Employees
with 4 employees, this is similar to the industry average (5)
- Source Eight Limited
5 - Industry AVG
Pay Structure
on an average salary of £159.3k, the company has a higher pay structure (£45.9k)
- Source Eight Limited
£45.9k - Industry AVG
Efficiency
resulting in sales per employee of £190k, this is more efficient (£117.6k)
- Source Eight Limited
£117.6k - Industry AVG
Debtor Days
it gets paid by customers after 44 days, this is earlier than average (70 days)
44 days - Source Eight Limited
70 days - Industry AVG
Creditor Days
its suppliers are paid after 78 days, this is slower than average (29 days)
78 days - Source Eight Limited
29 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Source Eight Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 150 weeks, this is more cash available to meet short term requirements (29 weeks)
150 weeks - Source Eight Limited
29 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 20.3%, this is a lower level of debt than the average (54.8%)
20.3% - Source Eight Limited
54.8% - Industry AVG
SOURCE EIGHT LIMITED financials
Source Eight Limited's latest turnover from March 2023 is £760 thousand and the company has net assets of £1.3 million. According to their latest financial statements, we estimate that Source Eight Limited has 4 employees and maintains cash reserves of £930 thousand 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 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 760,000 | 1,368,000 | 1,733,000 | 4,759,000 | 6,059,000 | 6,716,000 | 8,435,000 | 6,635,000 | 7,034,000 | 4,543,000 | ||||
| Other Income Or Grants | ||||||||||||||
| Cost Of Sales | 416,000 | 1,025,000 | 1,105,000 | 3,350,000 | 4,491,000 | 5,200,000 | 6,200,000 | 5,216,000 | 5,191,000 | 3,958,000 | ||||
| Gross Profit | 344,000 | 343,000 | 628,000 | 1,409,000 | 1,568,000 | 1,516,000 | 2,235,000 | 1,419,000 | 1,843,000 | 585,000 | ||||
| Admin Expenses | 169,000 | 232,000 | 471,000 | 1,848,000 | 1,491,000 | 5,619,000 | 2,626,000 | 3,533,000 | 1,673,000 | 471,000 | ||||
| Operating Profit | 175,000 | 111,000 | 157,000 | -439,000 | 77,000 | -4,103,000 | -391,000 | -2,114,000 | 170,000 | 114,000 | ||||
| Interest Payable | 92,000 | 125,000 | 127,000 | 73,000 | 47,000 | 7,000 | 2,000 | |||||||
| Interest Receivable | 9,000 | 38,000 | 28,000 | 5,000 | 10,000 | 3,000 | ||||||||
| Pre-Tax Profit | 175,000 | 196,000 | 517,000 | -555,000 | -12,000 | -4,148,000 | -433,000 | -2,111,000 | 173,000 | 112,000 | ||||
| Tax | -55,000 | -49,000 | -21,000 | 94,000 | -180,000 | 334,000 | -106,000 | 36,000 | -140,000 | -7,000 | ||||
| Profit After Tax | 120,000 | 147,000 | 496,000 | -461,000 | -192,000 | -3,814,000 | -539,000 | -2,075,000 | 33,000 | 105,000 | ||||
| Dividends Paid | 210,000 | |||||||||||||
| Retained Profit | 120,000 | 147,000 | 496,000 | -461,000 | -192,000 | -3,814,000 | -539,000 | -2,075,000 | -177,000 | 105,000 | ||||
| Employee Costs | 637,000 | 139,000 | 535,000 | 2,328,000 | 2,780,000 | 3,995,000 | 5,120,000 | 5,127,000 | 3,177,000 | 1,492,000 | ||||
| Number Of Employees | 3 | 8 | 23 | 43 | 45 | 52 | 45 | 41 | ||||||
| EBITDA* | 175,000 | 111,000 | 157,000 | -439,000 | 77,000 | -4,101,000 | -349,000 | -2,094,000 | 198,000 | 127,000 |
* 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 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 138,000 | 206,000 | 152,000 | 45,000 | 29,000 | 25,000 | 21,000 | 14,307 | 12,225 | 13,934 | 34,368 | |||
| Intangible Assets | ||||||||||||||
| Investments & Other | 7,000 | 36,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | |||||||
| Debtors (Due After 1 year) | 69,000 | 103,000 | 32,000 | 93,000 | 267,000 | |||||||||
| Total Fixed Assets | 7,000 | 69,000 | 103,000 | 36,000 | 48,000 | 261,000 | 61,000 | 312,000 | 41,000 | 21,000 | 14,307 | 12,225 | 13,934 | 34,368 |
| Stock & work in progress | ||||||||||||||
| Trade Debtors | 93,000 | 274,000 | 70,000 | 506,000 | 1,586,000 | 2,017,000 | 1,041,000 | 749,000 | 1,739,000 | 883,000 | 683,564 | 595,935 | 296,545 | 430,708 |
| Group Debtors | 102,000 | 101,000 | 179,000 | 427,000 | 445,000 | 1,168,000 | 641,000 | 39,000 | 383,000 | |||||
| Misc Debtors | 458,000 | 120,000 | 464,000 | 868,000 | 943,000 | 744,000 | 1,952,000 | 1,305,000 | 512,000 | 436,000 | ||||
| Cash | 930,000 | 1,052,000 | 592,000 | 1,399,000 | 1,198,000 | 841,000 | 575,000 | 274,000 | 447,000 | 98,000 | 363,298 | 288,646 | 53,195 | 103,185 |
| misc current assets | ||||||||||||||
| total current assets | 1,583,000 | 1,547,000 | 1,377,000 | 3,200,000 | 4,172,000 | 4,770,000 | 4,209,000 | 2,367,000 | 3,081,000 | 1,417,000 | 1,046,862 | 884,581 | 349,740 | 533,893 |
| total assets | 1,590,000 | 1,616,000 | 1,480,000 | 3,236,000 | 4,220,000 | 5,031,000 | 4,270,000 | 2,679,000 | 3,122,000 | 1,438,000 | 1,061,169 | 896,806 | 363,674 | 568,261 |
| Bank overdraft | ||||||||||||||
| Bank loan | ||||||||||||||
| Trade Creditors | 90,000 | 53,000 | 20,000 | 146,000 | 409,000 | 569,000 | 1,469,000 | 674,000 | 843,000 | 466,000 | 833,117 | 790,014 | 317,081 | 416,583 |
| Group/Directors Accounts | 144,000 | 3,395,000 | 3,517,000 | 3,041,000 | 889,000 | 405,000 | ||||||||
| other short term finances | ||||||||||||||
| hp & lease commitments | ||||||||||||||
| other current liabilities | 88,000 | 415,000 | 453,000 | 680,000 | 844,000 | 1,699,000 | 907,000 | 1,018,000 | 1,537,000 | 639,000 | ||||
| total current liabilities | 322,000 | 468,000 | 473,000 | 4,221,000 | 4,770,000 | 5,309,000 | 3,265,000 | 2,097,000 | 2,380,000 | 1,105,000 | 833,117 | 790,014 | 317,081 | 416,583 |
| loans | ||||||||||||||
| hp & lease commitments | ||||||||||||||
| Accruals and Deferred Income | ||||||||||||||
| other liabilities | 2,500 | 32,500 | ||||||||||||
| provisions | 2,007 | 2,007 | 2,007 | |||||||||||
| total long term liabilities | 2,007 | 4,507 | 34,507 | |||||||||||
| total liabilities | 322,000 | 468,000 | 473,000 | 4,221,000 | 4,770,000 | 5,309,000 | 3,265,000 | 2,097,000 | 2,380,000 | 1,105,000 | 833,117 | 792,021 | 321,588 | 451,090 |
| net assets | 1,268,000 | 1,148,000 | 1,007,000 | -985,000 | -550,000 | -278,000 | 1,005,000 | 582,000 | 742,000 | 333,000 | 228,052 | 104,785 | 42,086 | 117,171 |
| total shareholders funds | 1,268,000 | 1,148,000 | 1,007,000 | -985,000 | -550,000 | -278,000 | 1,005,000 | 582,000 | 742,000 | 333,000 | 228,052 | 104,785 | 42,086 | 117,171 |
| Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||
| Operating Profit | 175,000 | 111,000 | 157,000 | -439,000 | 77,000 | -4,103,000 | -391,000 | -2,114,000 | 170,000 | 114,000 | ||||
| Depreciation | 2,000 | 42,000 | 20,000 | 28,000 | 13,000 | 3,256 | 10,237 | 24,887 | 25,553 | |||||
| Amortisation | ||||||||||||||
| Tax | -55,000 | -49,000 | -21,000 | 94,000 | -180,000 | 334,000 | -106,000 | 36,000 | -140,000 | -7,000 | ||||
| Stock | ||||||||||||||
| Debtors | 89,000 | -252,000 | -985,000 | -1,205,000 | -1,016,000 | 388,000 | 1,274,000 | -274,000 | 2,634,000 | 635,436 | 87,629 | 299,390 | -134,163 | 430,708 |
| Creditors | 37,000 | 33,000 | -126,000 | -263,000 | -160,000 | -900,000 | 795,000 | -169,000 | 843,000 | -367,117 | 43,103 | 472,933 | -99,502 | 416,583 |
| Accruals and Deferred Income | -327,000 | -38,000 | -227,000 | -164,000 | -855,000 | 792,000 | -111,000 | -519,000 | 1,537,000 | 639,000 | ||||
| Deferred Taxes & Provisions | -2,007 | 2,007 | ||||||||||||
| Cash flow from operations | -259,000 | 309,000 | 768,000 | 433,000 | -102,000 | -4,263,000 | -1,045,000 | -2,472,000 | -196,000 | -243,553 | ||||
| Investing Activities | ||||||||||||||
| capital expenditure | -21,000 | -20,000 | ||||||||||||
| Change in Investments | 7,000 | -36,000 | 20,000 | 16,000 | ||||||||||
| cash flow from investments | -37,000 | -20,000 | ||||||||||||
| Financing Activities | ||||||||||||||
| Bank loans | ||||||||||||||
| Group/Directors Accounts | 144,000 | -3,395,000 | -122,000 | 476,000 | 2,152,000 | 484,000 | 405,000 | |||||||
| Other Short Term Loans | ||||||||||||||
| Long term loans | ||||||||||||||
| Hire Purchase and Lease Commitments | ||||||||||||||
| other long term liabilities | -2,500 | -30,000 | 32,500 | |||||||||||
| share issue | ||||||||||||||
| interest | -92,000 | -116,000 | -89,000 | -45,000 | -42,000 | 3,000 | 3,000 | -2,000 | ||||||
| cash flow from financing | 144,000 | -6,000 | -1,991,000 | -212,000 | 307,000 | 4,638,000 | 1,404,000 | 2,323,000 | 922,000 | -2,052 | ||||
| cash and cash equivalents | ||||||||||||||
| cash | -122,000 | 460,000 | -807,000 | 201,000 | 357,000 | 266,000 | 301,000 | -173,000 | 447,000 | -265,298 | 74,652 | 235,451 | -49,990 | 103,185 |
| overdraft | ||||||||||||||
| change in cash | -122,000 | 460,000 | -807,000 | 201,000 | 357,000 | 266,000 | 301,000 | -173,000 | 447,000 | -265,298 | 74,652 | 235,451 | -49,990 | 103,185 |
source eight limited Credit Report and Business Information
Source Eight Limited Competitor Analysis
Perform a competitor analysis for source eight limited by selecting its closest rivals, whether from the PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES sector, other small companies, companies in SE1 area or any other competitors across 12 key performance metrics.
source eight limited Ownership
SOURCE EIGHT LIMITED group structure
Source Eight Limited has 1 subsidiary company.
Ultimate parent company
2 parents
SOURCE EIGHT LIMITED
05004767
1 subsidiary
source eight limited directors
Source Eight Limited currently has 2 directors. The longest serving directors include Mr Peter Dickinson (Jun 2017) and Mr Simon Kirkpatrick (Jan 2020).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Peter Dickinson | England | 63 years | Jun 2017 | - | Director |
| Mr Simon Kirkpatrick | England | 46 years | Jan 2020 | - | Director |
P&L
March 2023turnover
760k
-44%
operating profit
175k
+58%
gross margin
45.3%
+80.52%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
March 2023net assets
1.3m
+0.1%
total assets
1.6m
-0.02%
cash
930k
-0.12%
net assets
Total assets minus all liabilities
source eight limited company details
company number
05004767
Type
Private limited with Share Capital
industry
70229 - Management consultancy activities (other than financial management)
incorporation date
December 2003
age
22
incorporated
UK
ultimate parent company
accounts
Audit Exemption Subsidiary
last accounts submitted
March 2023
previous names
N/A
accountant
-
auditor
-
address
level 12 the shard, 32 london bridge street, london, SE1 9SG
Bank
BANK OF SCOTLAND
Legal Advisor
-
source eight 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 did not find charges/mortgages relating to source eight limited.
source eight limited Capital Raised & Share Issues BETA
When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.
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source eight limited Companies House Filings - See Documents
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