Cornish Sea Salt Company Limited

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cornish sea salt company limited Company Information

Live

MatureMidLow

Company Number

05169406

Website

www.cornishseasalt.co.uk

Registered Address

pol gwarra, porthkerris, st.keverne, helston, cornwall, TR12 6QJ

Industry

Extraction of salt

Telephone

08453375277

Next Accounts Due

March 2025

Group Structure

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Directors

Mark Sullivan13 Years

Philip Tanswell12 Years

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Shareholders

provenance brands ltd 89.3%

nicole fraser 6%

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cornish sea salt company limited Estimated Valuation

£5.5m

Pomanda estimates the enterprise value of CORNISH SEA SALT COMPANY LIMITED at £5.5m based on an EBITDA of £2.2m and a 2.45x industry multiple (adjusted for size and gross margin).

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Cornish Sea Salt Company Limited is a live company located in helston, TR12 6QJ with a Companies House number of 05169406. It operates in the extraction of salt sector, SIC Code 08930. Founded in July 2004, it's largest shareholder is provenance brands ltd with a 89.3% stake. Cornish Sea Salt Company Limited is a mature, mid sized company, Pomanda has estimated its turnover at £7.8m with low growth in recent years.

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Pomanda's financial health check has awarded Cornish Sea Salt Company Limited a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 5 areas for improvement. Company Health Check FAQs

Health Rating4.5out of 5

4 Strong

3 Regular

5 Weak

Size

annual sales of £7.8m, make it smaller than the average company (£30.1m)

Growth

3 year (CAGR) sales growth of 3%, show it is growing at a slower rate (11.1%)

EXPORT

Cornish Sea Salt Company Limited's latest turnover from June 2023 is estimated at £7.8 million and the company has net assets of £3.6 million. According to their latest financial statements, Cornish Sea Salt Company Limited has 39 employees and maintains cash reserves of £411.8 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Turnover	7,754,180	9,751,473	7,814,368	7,154,039	11,285,229	6,546,149	7,138,315	7,514,254	2,488,998	2,299,691	2,055,527	1,037,713	1,726,721	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	3,937,918	4,805,935	4,464,483	3,758,375	5,174,066	3,451,143	4,209,730	3,451,380	903,532	834,812	651,504	328,905	819,557	0
Gross Profit	3,816,262	4,945,539	3,349,886	3,395,664	6,111,163	3,095,006	2,928,585	4,062,874	1,585,466	1,464,879	1,404,023	708,807	907,164	0
Admin Expenses	1,913,629	4,121,507	2,253,161	2,436,483	5,552,533	3,081,297	5,298,151	3,824,721	1,631,093	1,693,071	1,398,997	1,013,046	1,367,334	1,541,420
Operating Profit	1,902,633	824,032	1,096,725	959,181	558,630	13,709	-2,369,566	238,153	-45,627	-228,192	5,026	-304,239	-460,170	-1,541,420
Interest Payable	44,866	42,751	47,060	68,242	89,274	71,846	29,393	10,297	0	0	0	0	0	0
Interest Receivable	18,562	5,884	366	71	215	122	15	49	41	345	356	257	230	1
Pre-Tax Profit	1,876,329	787,164	1,050,031	891,010	469,570	-58,016	-2,398,944	227,905	-45,586	-227,847	5,382	-303,982	-459,940	-1,541,419
Tax	-469,082	-149,561	-199,506	-169,292	-89,218	0	0	-45,581	0	0	-1,292	0	0	0
Profit After Tax	1,407,247	637,603	850,525	721,718	380,352	-58,016	-2,398,944	182,324	-45,586	-227,847	4,090	-303,982	-459,940	-1,541,419
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	1,407,247	637,603	850,525	721,718	380,352	-58,016	-2,398,944	182,324	-45,586	-227,847	4,090	-303,982	-459,940	-1,541,419
Employee Costs	2,477,091	2,264,020	1,992,709	1,803,348	1,965,458	1,864,587	1,850,629	1,689,943	334,513	282,161	235,382	138,614	239,125	0
Number Of Employees	39	42	37	34	35	38	38	36	7	6	5	3	5	0
EBITDA*	2,231,252	1,087,266	1,333,470	1,188,131	786,821	272,597	-2,020,113	403,120	112,044	-88,642	130,991	-179,217	-343,452	-1,425,099

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Tangible Assets	1,907,051	1,995,724	1,829,572	1,793,858	1,934,935	2,014,288	1,880,793	1,209,210	1,073,092	1,148,536	1,197,480	1,203,559	1,298,979	1,369,210
Intangible Assets	12,225	19,128	37,369	64,071	91,098	113,863	113,107	1,630	0	0	0	0	0	0
Investments & Other	1	1	1	1	1	1	1	1	0	0	1	1	2	2
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	1,919,277	2,014,853	1,866,942	1,857,930	2,026,034	2,128,152	1,993,901	1,210,841	1,073,092	1,148,536	1,197,481	1,203,560	1,298,981	1,369,212
Stock & work in progress	723,623	612,916	351,604	308,376	351,003	407,679	338,378	112,982	66,609	56,059	15,361	37,136	33,687	18,366
Trade Debtors	813,608	690,614	646,603	666,946	818,106	574,243	521,315	432,049	430,860	409,570	339,319	172,019	295,003	90,411
Group Debtors	686,031	1,335,166	933,666	611,320	343,038	11,190	3,120	0	0	0	0	0	0	0
Misc Debtors	505,863	301,273	212,856	272,279	259,289	257,760	166,173	127,326	0	0	0	0	0	0
Cash	411,829	330,661	610,719	121,027	20,514	36,851	11,906	10,024	9,727	6,726	131,372	11,020	91,592	371
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	3,140,954	3,270,630	2,755,448	1,979,948	1,791,950	1,287,723	1,040,892	682,381	507,196	472,355	486,052	220,175	420,282	109,148
total assets	5,060,231	5,285,483	4,622,390	3,837,878	3,817,984	3,415,875	3,034,793	1,893,222	1,580,288	1,620,891	1,683,533	1,423,735	1,719,263	1,478,360
Bank overdraft	0	0	0	0	0	0	0	93,940	0	0	0	0	0	0
Bank loan	181,182	181,800	181,800	181,800	516,087	448,546	299,614	0	0	0	0	0	0	0
Trade Creditors	469,638	507,580	305,098	299,597	401,097	339,997	420,017	252,145	577,346	496,502	416,096	491,882	837,776	547,450
Group/Directors Accounts	0	0	0	0	0	78,428	5,836	0	0	0	0	0	0	0
other short term finances	0	0	0	0	0	4,092	7,015	7,015	0	0	0	0	0	0
hp & lease commitments	7,689	38,368	88,591	88,591	79,003	64,319	13,593	16,192	0	0	0	0	0	0
other current liabilities	168,776	149,312	152,825	113,568	112,889	88,552	132,176	129,519	0	0	0	0	0	0
total current liabilities	827,285	877,060	728,314	683,556	1,109,076	1,023,934	878,251	498,811	577,346	496,502	416,096	491,882	837,776	547,450
loans	135,791	316,973	498,773	680,573	858,985	817,456	633,937	215,874	0	0	0	0	0	0
hp & lease commitments	12,389	20,072	47,875	111,725	156,489	208,275	42,981	3,901	0	0	0	0	0	0
Accruals and Deferred Income	158,919	212,047	265,175	318,303	371,431	424,559	479,957	168,385	56,650	71,422	59,861	0	0	0
other liabilities	0	0	0	0	0	0	0	0	122,365	183,454	235,216	367,223	447,566	709,517
provisions	320,433	327,482	188,007	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	627,532	876,574	999,830	1,110,601	1,386,905	1,450,290	1,156,875	388,160	179,015	254,876	295,077	367,223	447,566	709,517
total liabilities	1,454,817	1,753,634	1,728,144	1,794,157	2,495,981	2,474,224	2,035,126	886,971	756,361	751,378	711,173	859,105	1,285,342	1,256,967
net assets	3,605,414	3,531,849	2,894,246	2,043,721	1,322,003	941,651	999,667	1,006,251	823,927	869,513	972,360	564,630	433,921	221,393
total shareholders funds	3,605,414	3,531,849	2,894,246	2,043,721	1,322,003	941,651	999,667	1,006,251	823,927	869,513	972,360	564,630	433,921	221,393

	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Operating Activities
Operating Profit	1,902,633	824,032	1,096,725	959,181	558,630	13,709	-2,369,566	238,153	-45,627	-228,192	5,026	-304,239	-460,170	-1,541,420
Depreciation	323,786	240,931	209,873	201,923	201,371	236,271	344,269	164,967	157,671	139,550	125,965	125,022	116,718	116,321
Amortisation	4,833	22,303	26,872	27,027	26,820	22,617	5,184	0	0	0	0	0	0	0
Tax	-469,082	-149,561	-199,506	-169,292	-89,218	0	0	-45,581	0	0	-1,292	0	0	0
Stock	110,707	261,312	43,228	-42,627	-56,676	69,301	338,378	46,373	10,550	40,698	-21,775	3,449	15,321	18,366
Debtors	-321,551	533,928	242,580	130,112	577,240	152,585	690,608	128,515	21,290	70,251	167,300	-122,984	204,592	90,411
Creditors	-37,942	202,482	5,501	-101,500	61,100	-80,020	420,017	-325,201	80,844	80,406	-75,786	-345,894	290,326	547,450
Accruals and Deferred Income	-33,664	-56,641	-13,871	-52,449	-28,791	-99,022	612,133	241,254	-14,772	11,561	59,861	0	0	0
Deferred Taxes & Provisions	-7,049	139,475	188,007	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	1,894,359	427,781	1,027,793	777,405	209,348	-128,331	-2,016,949	98,704	146,276	-107,624	-31,751	-405,576	-273,039	-986,426
Investing Activities
capital expenditure	-233,043	-411,145	-245,757	-60,846	-126,073	-393,139	-2,343,353	-302,715	-82,227	-90,606	-119,886	-29,602	-46,487	-1,485,531
Change in Investments	0	0	0	0	0	0	1	1	0	-1	0	-1	0	2
cash flow from investments	-233,043	-411,145	-245,757	-60,846	-126,073	-393,139	-2,343,354	-302,716	-82,227	-90,605	-119,886	-29,601	-46,487	-1,485,533
Financing Activities
Bank loans	-618	0	0	-334,287	67,541	148,932	299,614	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	0	0	-78,428	72,592	5,836	0	0	0	0	0	0	0
Other Short Term Loans	0	0	0	0	-4,092	-2,923	7,015	7,015	0	0	0	0	0	0
Long term loans	-181,182	-181,800	-181,800	-178,412	41,529	183,519	633,937	215,874	0	0	0	0	0	0
Hire Purchase and Lease Commitments	-38,362	-78,026	-63,850	-35,176	-37,102	216,020	56,574	20,093	0	0	0	0	0	0
other long term liabilities	0	0	0	0	0	0	0	-122,365	-61,089	-51,762	-132,007	-80,343	-261,951	709,517
share issue	-1,333,682	0	0	0	0	0	3,398,611	0	0	125,000	403,640	434,691	672,468	1,762,812
interest	-26,304	-36,867	-46,694	-68,171	-89,059	-71,724	-29,378	-10,248	41	345	356	257	230	1
cash flow from financing	-1,580,148	-296,693	-292,344	-616,046	-99,611	546,416	4,372,209	110,369	-61,048	73,583	271,989	354,605	410,747	2,472,330
cash and cash equivalents
cash	81,168	-280,058	489,692	100,513	-16,337	24,945	11,906	297	3,001	-124,646	120,352	-80,572	91,221	371
overdraft	0	0	0	0	0	0	0	93,940	0	0	0	0	0	0
change in cash	81,168	-280,058	489,692	100,513	-16,337	24,945	11,906	-93,643	3,001	-124,646	120,352	-80,572	91,221	371

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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CORNISH SEA SALT COMPANY LIMITED group structure

Cornish Sea Salt Company Limited has 1 subsidiary company.

Ultimate parent company

PROVENANCE BRANDS LIMITED

08140845

1 parent

CORNISH SEA SALT COMPANY LIMITED

05169406

1 subsidiary

LIVING SEA THERAPY LIMITED

11883749

CORNISH SEA SALT COMPANY LIMITED Shareholders

provenance brands ltd	89.31%
nicole fraser	6%
clive stevens	2.31%
andrew lennard	1.15%
philip tanswell	0.77%
clare whitney	0.23%
ellie annette bradshaw	0.23%

Cornish Sea Salt Company Limited currently has 4 directors. The longest serving directors include Mr Mark Sullivan (Jul 2011) and Mr Philip Tanswell (Mar 2012).

officer	country	age	start	end	role
Mr Mark Sullivan	United Kingdom	63 years	Jul 2011	-	Director
Mr Philip Tanswell	United Kingdom	51 years	Mar 2012	-	Director
Mr Simon Toft	England	66 years	Dec 2012	-	Director
Ms Suzanne Skerry		55 years	Jan 2014	-	Director

P&L

June 2023

turnover

7.8m

-20%

operating profit

1.9m

gross margin

49.3%

-2.96%

turnover

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

Balance Sheet

June 2023

net assets

3.6m

+0.02%

total assets

5.1m

-0.04%

cash

411.8k

+0.25%

net assets

Total assets minus all liabilities

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company number

05169406

Type

Private limited with Share Capital

industry

08930 - Extraction of salt

incorporation date

July 2004

accounts

Small Company

ultimate parent company

PROVENANCE BRANDS LIMITED

previous names

N/A

last accounts submitted

June 2023

address

pol gwarra, porthkerris, st.keverne, helston, cornwall, TR12 6QJ

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 12 charges/mortgages relating to cornish sea salt company limited. Currently there are 2 open charges and 10 have been satisfied in the past.

cornish sea salt company limited Company Information

cornish sea salt company limited Estimated Valuation

cornish sea salt company limited Estimated Valuation

cornish sea salt company limited Estimated Valuation

Cornish Sea Salt Company Limited Overview

Cornish Sea Salt Company Limited Health Check

CORNISH SEA SALT COMPANY LIMITED financials

cornish sea salt company limited Credit Report and Business Information

Cornish Sea Salt Company Limited Competitor Analysis

cornish sea salt company limited Ownership

cornish sea salt company limited directors

cornish sea salt company limited company details

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