Independent Reworks Ltd

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independent reworks ltd Company Information

Live

MatureSmallRapid

Company Number

05116053

Next Accounts

Sep 2025

Industry

Other business support service activities n.e.c.

Directors

Pelwinder Binning

Shareholders

pelwinder singh binning

Group Structure

View All

Contact

Registered Address

zenith house suite 03, highlands road, solihull, B90 4PD

Website

independent reworks ltd Estimated Valuation

£4.7m

Pomanda estimates the enterprise value of INDEPENDENT REWORKS LTD at £4.7m based on Net Assets of £2m and 2.37x industry multiple (adjusted for liquidity).

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Independent Reworks Ltd is a live company located in solihull, B90 4PD with a Companies House number of 05116053. It operates in the other business support service activities n.e.c. sector, SIC Code 82990. Founded in April 2004, it's largest shareholder is pelwinder singh binning with a 100% stake. Independent Reworks Ltd is a mature, small sized company, Pomanda has estimated its turnover at £3.5m with rapid growth in recent years.

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Pomanda's financial health check has awarded Independent Reworks Ltd a 5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 4 areas for improvement. Company Health Check FAQs

Health Rating5out of 5

5 Strong

2 Regular

4 Weak

Size

annual sales of £3.5m, make it smaller than the average company (£4.8m)

Growth

3 year (CAGR) sales growth of 38%, show it is growing at a faster rate (6.7%)

EXPORT

Independent Reworks Ltd's latest turnover from December 2023 is estimated at £3.5 million and the company has net assets of £2 million. According to their latest financial statements, Independent Reworks Ltd has 27 employees and maintains cash reserves of £863.9 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Dec 2023	Oct 2022	Oct 2021	Oct 2020	Oct 2019	Oct 2018	Oct 2017	Oct 2016	Oct 2015	Oct 2014	Oct 2013	Oct 2012	Oct 2011	Oct 2010	Oct 2009
Turnover	3,503,548	2,825,387	2,020,545	1,341,728	923,771	1,138,311	472,629	858,863	1,043,667	1,526,580	1,014,777	956,281	533,470	194,398	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	2,910,000	2,343,535	1,710,114	1,115,975	767,946	946,684	390,837	706,460	868,702	1,275,417	844,992	788,428	435,413	156,024	0
Gross Profit	593,548	481,852	310,431	225,754	155,825	191,627	81,792	152,403	174,965	251,163	169,785	167,853	98,057	38,374	0
Admin Expenses	-376,193	263,597	-55,934	-110,515	112,884	183,832	-48,940	346,601	417,488	307,612	74,390	-63,498	-10,225	-92,825	-542,181
Operating Profit	969,741	218,255	366,365	336,269	42,941	7,795	130,732	-194,198	-242,523	-56,449	95,395	231,351	108,282	131,199	542,181
Interest Payable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	28,515	3,903	227	194	224	681	441	609	1,715	2,108	2,313	2,240	2,116	1,934	928
Pre-Tax Profit	998,256	222,158	366,591	336,463	43,165	8,477	131,173	-193,589	-240,808	-54,341	97,708	233,591	110,397	133,133	543,110
Tax	-249,564	-42,210	-69,652	-63,928	-8,201	-1,611	-24,923	0	0	0	-22,473	-56,062	-28,703	-37,277	-152,071
Profit After Tax	748,692	179,948	296,939	272,535	34,964	6,866	106,250	-193,589	-240,808	-54,341	75,235	177,529	81,694	95,856	391,039
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	748,692	179,948	296,939	272,535	34,964	6,866	106,250	-193,589	-240,808	-54,341	75,235	177,529	81,694	95,856	391,039
Employee Costs	1,456,751	1,237,156	518,124	420,116	417,844	314,983	457,145	687,750	152,237	188,896	148,636	110,354	72,474	35,295	0
Number Of Employees	27	27	12	10	10	8	12	18	4	5	4	3	2	1	0
EBITDA*	1,066,586	415,480	436,670	418,230	42,941	7,795	145,282	-176,217	-218,619	-29,442	125,845	255,175	130,518	144,832	552,976

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2023	Oct 2022	Oct 2021	Oct 2020	Oct 2019	Oct 2018	Oct 2017	Oct 2016	Oct 2015	Oct 2014	Oct 2013	Oct 2012	Oct 2011	Oct 2010	Oct 2009
Tangible Assets	1,177,443	875,542	955,326	388,896	432,220	209,554	88,942	87,892	96,322	181,770	173,352	121,354	85,806	98,640	45,915
Intangible Assets	0	0	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	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	368,622	263,954	0	0	0	0	0	0	0
Total Fixed Assets	1,177,443	875,542	955,326	388,896	432,220	209,554	457,564	351,846	96,322	181,770	173,352	121,354	85,806	98,640	45,915
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	45,075	24,500	22,881	1,216	0
Trade Debtors	1,152,154	1,041,447	820,530	434,394	300,444	464,872	0	0	300,546	460,625	308,751	307,734	152,395	52,544	55,672
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	863,918	222,352	124,568	328,775	59,763	0	181,661	170,888	316,042	370,004	473,043	451,998	443,855	402,465	371,324
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	2,016,072	1,263,799	945,098	763,169	360,207	464,872	181,661	170,888	616,588	830,629	826,869	784,232	619,131	456,225	426,996
total assets	3,193,515	2,139,341	1,900,424	1,152,065	792,427	674,426	639,225	522,734	712,910	1,012,399	1,000,221	905,586	704,937	554,865	472,911
Bank overdraft	0	0	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	0	0
Trade Creditors	805,395	532,465	405,274	392,965	223,003	227,289	63,760	184,426	160,730	193,822	178,768	159,368	136,248	67,870	81,772
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	5,521	0	0	0	0	0	0	0	0
other current liabilities	0	0	0	0	0	0	130,979	0	0	0	0	0	0	0	0
total current liabilities	805,395	532,465	405,274	392,965	223,003	227,289	200,260	184,426	160,730	193,822	178,768	159,368	136,248	67,870	81,772
loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	409,211	376,659	444,881	5,770	88,629	1,406	0	5,593	25,876	51,465	0	0	0	0	0
provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	409,211	376,659	444,881	5,770	88,629	1,406	0	5,593	25,876	51,465	0	0	0	0	0
total liabilities	1,214,606	909,124	850,155	398,735	311,632	228,695	200,260	190,019	186,606	245,287	178,768	159,368	136,248	67,870	81,772
net assets	1,978,909	1,230,217	1,050,269	753,330	480,795	445,731	438,965	332,715	526,304	767,112	821,453	746,218	568,689	486,995	391,139
total shareholders funds	1,978,909	1,230,217	1,050,269	753,330	480,795	445,731	438,965	332,715	526,304	767,112	821,453	746,218	568,689	486,995	391,139

	Dec 2023	Oct 2022	Oct 2021	Oct 2020	Oct 2019	Oct 2018	Oct 2017	Oct 2016	Oct 2015	Oct 2014	Oct 2013	Oct 2012	Oct 2011	Oct 2010	Oct 2009
Operating Activities
Operating Profit	969,741	218,255	366,365	336,269	42,941	7,795	130,732	-194,198	-242,523	-56,449	95,395	231,351	108,282	131,199	542,181
Depreciation	96,845	197,225	70,305	81,961	0	0	14,550	17,981	23,904	27,007	30,450	23,824	22,236	13,633	10,795
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-249,564	-42,210	-69,652	-63,928	-8,201	-1,611	-24,923	0	0	0	-22,473	-56,062	-28,703	-37,277	-152,071
Stock	0	0	0	0	0	0	0	0	0	-45,075	20,575	1,619	21,665	1,216	0
Debtors	110,707	220,917	386,136	133,950	-164,428	96,250	104,668	-36,592	-160,079	151,874	1,017	155,339	99,851	-3,128	55,672
Creditors	272,930	127,191	12,309	169,962	-4,286	163,529	-120,666	23,696	-33,092	15,054	19,400	23,120	68,378	-13,902	81,772
Accruals and Deferred Income	0	0	0	0	0	-130,979	130,979	0	0	0	0	0	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	979,245	279,544	-6,809	390,314	194,882	-57,516	26,004	-115,929	-91,632	-121,187	101,180	65,275	48,677	95,565	427,005
Investing Activities
capital expenditure	-398,746	-117,441	-636,735	-38,637	-222,666	-120,612	-15,600	-9,551	61,544	-35,425	-82,448	-59,372	-9,402	-66,358	-56,710
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-398,746	-117,441	-636,735	-38,637	-222,666	-120,612	-15,600	-9,551	61,544	-35,425	-82,448	-59,372	-9,402	-66,358	-56,710
Financing Activities
Bank loans	0	0	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	0	0
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	0	0	-5,521	5,521	0	0	0	0	0	0	0	0
other long term liabilities	32,552	-68,222	439,111	-82,859	87,223	1,406	-5,593	-20,283	-25,589	51,465	0	0	0	0	0
share issue	0	0	0	0	100	-100	0	0	0	0	0	0	0	0	100
interest	28,515	3,903	227	194	224	681	441	609	1,715	2,108	2,313	2,240	2,116	1,934	928
cash flow from financing	61,067	-64,319	439,338	-82,665	87,547	-3,534	369	-19,674	-23,874	53,573	2,313	2,240	2,116	1,934	1,028
cash and cash equivalents
cash	641,566	97,784	-204,207	269,012	59,763	-181,661	10,773	-145,154	-53,962	-103,039	21,045	8,143	41,390	31,141	371,324
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	641,566	97,784	-204,207	269,012	59,763	-181,661	10,773	-145,154	-53,962	-103,039	21,045	8,143	41,390	31,141	371,324

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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Perform a competitor analysis for independent reworks ltd by selecting its closest rivals, whether from the ADMINISTRATIVE AND SUPPORT SERVICE ACTIVITIES sector, other small companies, companies in B90 area or any other competitors across 12 key performance metrics.

INDEPENDENT REWORKS LTD group structure

Independent Reworks Ltd has no subsidiary companies.

Ultimate parent company

INDEPENDENT REWORKS LTD

05116053

INDEPENDENT REWORKS LTD Shareholders

pelwinder singh binning

100%

Independent Reworks Ltd currently has 1 director, Mr Pelwinder Binning serving since Jul 2006.

officer	country	age	start	end	role
Mr Pelwinder Binning	England	56 years	Jul 2006	-	Director

P&L

December 2023

turnover

3.5m

+24%

operating profit

969.7k

gross margin

17%

-0.66%

turnover

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

Balance Sheet

December 2023

net assets

+0.61%

total assets

3.2m

+0.49%

cash

863.9k

+2.89%

net assets

Total assets minus all liabilities

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company number

05116053

Type

Private limited with Share Capital

industry

82990 - Other business support service activities n.e.c.

incorporation date

April 2004

ultimate parent company

None

previous names

N/A

address

zenith house suite 03, highlands road, solihull, B90 4PD

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.

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independent reworks ltd Company Information

independent reworks ltd Estimated Valuation

independent reworks ltd Estimated Valuation

independent reworks ltd Estimated Valuation

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INDEPENDENT REWORKS LTD financials

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