cortex limited
cortex limited Company Information
Company Number
05023238
Next Accounts
Sep 2025
Shareholders
t2 growth partners limited
mr paul trendell
View AllGroup Structure
View All
Industry
Other information technology and computer service activities
+1Registered Address
kings park house, 22 kings park road, southampton, SO15 2AT
Website
www.cortex.co.ukcortex limited Estimated Valuation
Pomanda estimates the enterprise value of CORTEX LIMITED at £2.3m based on a Turnover of £3.1m and 0.75x industry multiple (adjusted for size and gross margin).
cortex limited Estimated Valuation
Pomanda estimates the enterprise value of CORTEX LIMITED at £431.5k based on an EBITDA of £82.4k and a 5.23x industry multiple (adjusted for size and gross margin).
cortex limited Estimated Valuation
Pomanda estimates the enterprise value of CORTEX LIMITED at £2.5m based on Net Assets of £1.1m and 2.3x industry multiple (adjusted for liquidity).
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Cortex Limited Overview
Cortex Limited is a live company located in southampton, SO15 2AT with a Companies House number of 05023238. It operates in the information technology consultancy activities sector, SIC Code 62020. Founded in January 2004, it's largest shareholder is t2 growth partners limited with a 61.5% stake. Cortex Limited is a mature, small sized company, Pomanda has estimated its turnover at £3.1m with high growth in recent years.
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Cortex Limited Health Check
Pomanda's financial health check has awarded Cortex Limited a 3.5 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 4 areas for improvement. Company Health Check FAQs
4 Strong
3 Regular
4 Weak
Size
annual sales of £3.1m, make it smaller than the average company (£5.3m)
- Cortex Limited
£5.3m - Industry AVG
Growth
3 year (CAGR) sales growth of 15%, show it is growing at a faster rate (8.3%)
- Cortex Limited
8.3% - Industry AVG
Production
with a gross margin of 48.4%, this company has a comparable cost of product (48.4%)
- Cortex Limited
48.4% - Industry AVG
Profitability
an operating margin of -35.2% make it less profitable than the average company (4.7%)
- Cortex Limited
4.7% - Industry AVG
Employees
with 48 employees, this is above the industry average (32)
48 - Cortex Limited
32 - Industry AVG
Pay Structure
on an average salary of £68.6k, the company has an equivalent pay structure (£68.6k)
- Cortex Limited
£68.6k - Industry AVG
Efficiency
resulting in sales per employee of £64.3k, this is less efficient (£158.2k)
- Cortex Limited
£158.2k - Industry AVG
Debtor Days
it gets paid by customers after 26 days, this is earlier than average (57 days)
- Cortex Limited
57 days - Industry AVG
Creditor Days
its suppliers are paid after 8 days, this is quicker than average (30 days)
- Cortex Limited
30 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- Cortex Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 19 weeks, this is more cash available to meet short term requirements (15 weeks)
19 weeks - Cortex Limited
15 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 59.6%, this is a similar level of debt than the average (61.8%)
59.6% - Cortex Limited
61.8% - Industry AVG
CORTEX LIMITED financials
Cortex Limited's latest turnover from December 2023 is estimated at £3.1 million and the company has net assets of £1.1 million. According to their latest financial statements, Cortex Limited has 48 employees and maintains cash reserves of £484.6 thousand as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2023 | Dec 2022 | Sep 2021 | Sep 2020 | Sep 2019 | Sep 2018 | Sep 2017 | Sep 2016 | Sep 2015 | Sep 2014 | Sep 2013 | Sep 2012 | Sep 2011 | Sep 2010 | Sep 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 2,301,529 | 1,169,349 | 1,749,444 | 1,437,802 | 1,415,430 | 1,250,159 | |||||||||
| Other Income Or Grants | |||||||||||||||
| Cost Of Sales | 276,317 | 109,187 | 144,625 | 122,696 | 78,229 | 230,632 | |||||||||
| Gross Profit | 2,025,212 | 1,060,162 | 1,604,819 | 1,315,106 | 1,337,201 | 1,019,527 | |||||||||
| Admin Expenses | 1,796,422 | 1,144,327 | 1,576,818 | 1,326,290 | 1,348,387 | 1,003,312 | |||||||||
| Operating Profit | 228,790 | -84,165 | 28,001 | -11,184 | -11,186 | 16,215 | |||||||||
| Interest Payable | |||||||||||||||
| Interest Receivable | 52 | 93 | 56 | ||||||||||||
| Pre-Tax Profit | 228,842 | -84,072 | 28,057 | -11,184 | -11,186 | 16,215 | |||||||||
| Tax | 47 | -810 | 47,087 | 6,240 | -1,214 | -2,573 | |||||||||
| Profit After Tax | 228,889 | -84,882 | 75,144 | -4,944 | -12,400 | 13,642 | |||||||||
| Dividends Paid | |||||||||||||||
| Retained Profit | 228,889 | -84,882 | 75,144 | -4,944 | -12,400 | 13,642 | |||||||||
| Employee Costs | 865,385 | 1,104,566 | 828,618 | 734,558 | 461,059 | ||||||||||
| Number Of Employees | 48 | 50 | 46 | 35 | 38 | 34 | 29 | 22 | 21 | 20 | 16 | 12 | 9 | ||
| EBITDA* | 391,210 | -36,799 | 33,480 | -5,328 | -1,335 | 25,593 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | Dec 2022 | Sep 2021 | Sep 2020 | Sep 2019 | Sep 2018 | Sep 2017 | Sep 2016 | Sep 2015 | Sep 2014 | Sep 2013 | Sep 2012 | Sep 2011 | Sep 2010 | Sep 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 34,137 | 38,072 | 55,724 | 76,128 | 93,535 | 118,333 | 128,421 | 488 | 908 | 2,029 | 7,508 | 13,364 | 7,567 | ||
| Intangible Assets | 1,425,892 | 1,524,664 | 220,833 | 221,000 | 205,000 | 225,000 | 225,000 | ||||||||
| Investments & Other | 1 | 1 | 1 | 1 | 1 | 1 | |||||||||
| Debtors (Due After 1 year) | 40,800 | 40,800 | |||||||||||||
| Total Fixed Assets | 1,460,029 | 1,562,737 | 96,525 | 116,929 | 314,369 | 339,334 | 333,422 | 225,488 | 225,908 | 2,029 | 7,508 | 13,364 | 7,567 | ||
| Stock & work in progress | |||||||||||||||
| Trade Debtors | 225,988 | 140,261 | 179,176 | 194,787 | 169,254 | 297,437 | 708,164 | 268,177 | 260,731 | 202,854 | 168,600 | 33,729 | |||
| Group Debtors | 7,320 | 144,357 | 290,557 | 646,196 | 498,290 | 568,687 | 173,953 | ||||||||
| Misc Debtors | 577,385 | 731,471 | 212,800 | 865,569 | 281,940 | 508,211 | 610,475 | 338,677 | 312,837 | 181,512 | 142,667 | 132,067 | 205,996 | ||
| Cash | 484,630 | 961,124 | 3,287,246 | 1,286,641 | 577,766 | 1,159,583 | 570,169 | 481,370 | 97,354 | 10,847 | 5,720 | 16,823 | |||
| misc current assets | |||||||||||||||
| total current assets | 1,288,003 | 1,840,176 | 3,679,222 | 2,346,997 | 1,028,960 | 1,965,231 | 1,888,808 | 1,232,581 | 961,479 | 1,041,409 | 815,277 | 717,577 | 413,678 | ||
| total assets | 2,748,032 | 3,402,913 | 3,775,747 | 2,463,926 | 1,343,329 | 2,304,565 | 2,222,230 | 1,458,069 | 1,187,387 | 1,043,438 | 822,785 | 730,941 | 421,245 | ||
| Bank overdraft | |||||||||||||||
| Bank loan | |||||||||||||||
| Trade Creditors | 37,175 | 22,747 | 29,975 | 29,311 | 5,553 | 10,084 | 112,918 | 69,130 | 21,752 | 17,503 | 5,199 | 9,658 | 3,911 | ||
| Group/Directors Accounts | 2,446 | 12,958 | 824,076 | 573,642 | 374,772 | 582,000 | 511,133 | 357,272 | 156,518 | ||||||
| other short term finances | 469,000 | ||||||||||||||
| hp & lease commitments | |||||||||||||||
| other current liabilities | 781,125 | 1,763,264 | 3,133,074 | 1,543,529 | 943,536 | 937,056 | 1,032,933 | 780,666 | 579,023 | 433,260 | 453,916 | 553,423 | 397,092 | ||
| total current liabilities | 1,289,746 | 1,786,011 | 3,163,049 | 1,572,840 | 962,047 | 1,771,216 | 1,719,493 | 1,224,568 | 1,182,775 | 961,896 | 816,387 | 719,599 | 401,003 | ||
| loans | |||||||||||||||
| hp & lease commitments | |||||||||||||||
| Accruals and Deferred Income | |||||||||||||||
| other liabilities | |||||||||||||||
| provisions | 348,753 | 440,575 | 60,000 | 60,000 | 69,026 | 62,031 | 53,562 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 6,500 | ||
| total long term liabilities | 348,753 | 440,575 | 60,000 | 60,000 | 69,026 | 62,031 | 53,562 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 6,500 | ||
| total liabilities | 1,638,499 | 2,226,586 | 3,223,049 | 1,632,840 | 1,031,073 | 1,833,247 | 1,773,055 | 1,234,568 | 1,192,775 | 971,896 | 826,387 | 729,599 | 407,503 | ||
| net assets | 1,109,533 | 1,176,327 | 552,698 | 831,086 | 312,256 | 471,318 | 449,175 | 223,501 | -5,388 | 71,542 | -3,602 | 1,342 | 13,742 | ||
| total shareholders funds | 1,109,533 | 1,176,327 | 552,698 | 831,086 | 312,256 | 471,318 | 449,175 | 223,501 | -5,388 | 71,542 | -3,602 | 1,342 | 13,742 |
| Dec 2023 | Dec 2022 | Sep 2021 | Sep 2020 | Sep 2019 | Sep 2018 | Sep 2017 | Sep 2016 | Sep 2015 | Sep 2014 | Sep 2013 | Sep 2012 | Sep 2011 | Sep 2010 | Sep 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Operating Profit | 228,790 | -84,165 | 28,001 | -11,184 | -11,186 | 16,215 | |||||||||
| Depreciation | 11,976 | 18,734 | 20,404 | 23,847 | 24,798 | 23,778 | 8,836 | 420 | 2,366 | 5,479 | 5,856 | 9,851 | 9,378 | ||
| Amortisation | 1,156,424 | 187,167 | 176,000 | 200,000 | 162,000 | 45,000 | |||||||||
| Tax | 47 | -810 | 47,087 | 6,240 | -1,214 | -2,573 | |||||||||
| Stock | |||||||||||||||
| Debtors | -75,679 | 446,276 | -668,380 | 649,962 | -354,454 | -512,991 | 567,428 | -112,914 | -166,437 | 221,005 | 108,803 | 287,076 | 413,678 | ||
| Creditors | 14,428 | -7,228 | 664 | 23,758 | -4,531 | -102,834 | 43,788 | 47,378 | 4,249 | 12,304 | -4,459 | 5,747 | 3,911 | ||
| Accruals and Deferred Income | -982,139 | -1,369,810 | 1,589,545 | 599,993 | 6,480 | -95,877 | 252,267 | 201,643 | 145,763 | -20,656 | -99,507 | 156,331 | 397,092 | ||
| Deferred Taxes & Provisions | -91,822 | 380,575 | -9,026 | 6,995 | 8,469 | 43,562 | 3,500 | 6,500 | |||||||
| Cash flow from operations | 753,192 | 278,840 | -148,790 | -211,857 | -124,047 | 16,845 | |||||||||
| Investing Activities | |||||||||||||||
| capital expenditure | |||||||||||||||
| Change in Investments | -1 | 1 | |||||||||||||
| cash flow from investments | |||||||||||||||
| Financing Activities | |||||||||||||||
| Bank loans | |||||||||||||||
| Group/Directors Accounts | 2,446 | -12,958 | -811,118 | 250,434 | 198,870 | -207,228 | 70,867 | 153,861 | 200,754 | 156,518 | |||||
| Other Short Term Loans | 469,000 | ||||||||||||||
| Long term loans | |||||||||||||||
| Hire Purchase and Lease Commitments | |||||||||||||||
| other long term liabilities | |||||||||||||||
| share issue | |||||||||||||||
| interest | 52 | 93 | 56 | ||||||||||||
| cash flow from financing | -207,176 | 78,912 | 153,917 | 200,754 | 156,518 | 100 | |||||||||
| cash and cash equivalents | |||||||||||||||
| cash | -476,494 | -2,326,122 | 2,000,605 | 708,875 | -581,817 | 589,414 | 88,799 | 384,016 | 86,507 | 5,127 | -11,103 | 16,823 | |||
| overdraft | |||||||||||||||
| change in cash | -476,494 | -2,326,122 | 2,000,605 | 708,875 | -581,817 | 589,414 | 88,799 | 384,016 | 86,507 | 5,127 | -11,103 | 16,823 |
cortex limited Credit Report and Business Information
Cortex Limited Competitor Analysis
Perform a competitor analysis for cortex limited by selecting its closest rivals, whether from the INFORMATION AND COMMUNICATION sector, other small companies, companies in SO15 area or any other competitors across 12 key performance metrics.
cortex limited Ownership
CORTEX LIMITED group structure
Cortex Limited has 1 subsidiary company.
Ultimate parent company
1 parent
CORTEX LIMITED
05023238
1 subsidiary
cortex limited directors
Cortex Limited currently has 2 directors. The longest serving directors include Mr Anthony Edwards (Dec 2007) and Mr Michael Taylor (Dec 2007).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Anthony Edwards | United Kingdom | 70 years | Dec 2007 | - | Director |
| Mr Michael Taylor | United Kingdom | 50 years | Dec 2007 | - | Director |
P&L
December 2023turnover
3.1m
+12%
operating profit
-1.1m
0%
gross margin
48.5%
-1.52%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
1.1m
-0.06%
total assets
2.7m
-0.19%
cash
484.6k
-0.5%
net assets
Total assets minus all liabilities
cortex limited company details
company number
05023238
Type
Private limited with Share Capital
industry
62090 - Other information technology and computer service activities
62020 - Computer consultancy activities
incorporation date
January 2004
age
21
incorporated
UK
ultimate parent company
accounts
Total Exemption Full
last accounts submitted
December 2023
previous names
innovise ies limited (August 2015)
innovise esm software limited (July 2012)
See moreaccountant
HAZLEWOODS LLP
auditor
-
address
kings park house, 22 kings park road, southampton, SO15 2AT
Bank
-
Legal Advisor
-
cortex 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 cortex limited. Currently there are 1 open charges and 1 have been satisfied in the past.
cortex 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.
Click to start generating capital raising & share issue transactions for CORTEX LIMITED. This can take several minutes, an email will notify you when this has completed.
cortex limited Companies House Filings - See Documents
| date | description | view/download |
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