Ready 2 Let (properties) Limited

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ready 2 let (properties) limited Company Information

Live

MatureMicroRapid

Company Number

05269047

Website

Registered Address

27 northumberland square, north shields, northumberland, tyne & wear, NE30 1PW

Industry

Letting and operating of own or leased real estate (other than Housing Association real estate and conference and exhibition services) n.e.c.

Telephone

Next Accounts Due

December 2024

Group Structure

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Directors

Stephen Laverick19 Years

Darren Purdy19 Years

Shareholders

mr andrew david ford 33.3%

mr darren john joseph purdy 33.3%

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ready 2 let (properties) limited Estimated Valuation

£436.5k

Pomanda estimates the enterprise value of READY 2 LET (PROPERTIES) LIMITED at £436.5k based on a Turnover of £133.9k and 3.26x industry multiple (adjusted for size and gross margin).

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Ready 2 Let (properties) Limited is a live company located in northumberland, NE30 1PW with a Companies House number of 05269047. It operates in the other letting and operating of own or leased real estate sector, SIC Code 68209. Founded in October 2004, it's largest shareholder is mr andrew david ford with a 33.3% stake. Ready 2 Let (properties) Limited is a mature, micro sized company, Pomanda has estimated its turnover at £133.9k with rapid growth in recent years.

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Pomanda's financial health check has awarded Ready 2 Let (Properties) Limited a 1.5 rating. We use a traffic light system to show it exceeds the industry average on 2 measures and has 6 areas for improvement. Company Health Check FAQs

Health Rating1.5out of 5

2 Strong

2 Regular

6 Weak

Size

annual sales of £133.9k, make it smaller than the average company (£801k)

Growth

3 year (CAGR) sales growth of 143%, show it is growing at a faster rate (1.9%)

EXPORT

Ready 2 Let (Properties) Limited's latest turnover from March 2023 is estimated at £133.9 thousand and the company has net assets of -£13.7 thousand. According to their latest financial statements, we estimate that Ready 2 Let (Properties) Limited has 1 employee and maintains cash reserves of £2.5 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	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	133,903	15,937	9,298	14,665	208,748	73,806	125,537	165,203	393,798	234,412	302,166	100,386	108,180	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	34,047	4,742	2,589	4,376	55,862	19,188	32,482	54,049	142,840	80,339	101,789	33,788	33,903	0
Gross Profit	99,855	11,196	6,710	10,289	152,886	54,618	93,055	111,155	250,957	154,073	200,377	66,599	74,277	0
Admin Expenses	82,699	11,657	-9,116	-3,886	143,632	65,205	89,555	113,360	245,998	135,087	200,590	68,991	165,949	-154,695
Operating Profit	17,156	-461	15,826	14,175	9,254	-10,587	3,500	-2,205	4,959	18,986	-213	-2,392	-91,672	154,695
Interest Payable	3,613	4,890	5,119	2,874	0	0	0	0	0	0	0	0	0	0
Interest Receivable	53	9	11	26	0	15	21	13	2	15	14	11	32	22
Pre-Tax Profit	13,596	-5,342	10,719	11,327	9,254	-10,572	3,521	-2,192	4,961	19,001	-199	-2,381	-91,640	154,717
Tax	-2,583	0	-2,037	-2,152	-1,758	0	-704	0	-1,042	-4,370	0	0	0	-43,321
Profit After Tax	11,013	-5,342	8,682	9,175	7,496	-10,572	2,817	-2,192	3,919	14,631	-199	-2,381	-91,640	111,396
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	11,013	-5,342	8,682	9,175	7,496	-10,572	2,817	-2,192	3,919	14,631	-199	-2,381	-91,640	111,396
Employee Costs	30,376	28,028	27,465	28,146	53,803	25,670	26,000	52,225	75,025	47,914	48,745	23,530	24,089	0
Number Of Employees	1	1	1	1	2	1	1	2	3	2	2	1	1	0
EBITDA*	17,156	-461	15,826	14,175	9,254	-10,587	3,500	-2,205	4,959	18,986	-213	-2,392	-91,672	154,695

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	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	110,000	135,044	210,000	135,044	135,044	134,394	134,394	134,394	134,394	134,394	134,394	134,394	0	0
Intangible Assets	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
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	110,000	135,044	210,000	135,044	135,044	134,394	134,394	134,394	134,394	134,394	134,394	134,394	0	0
Stock & work in progress	0	0	0	0	0	0	17,752	0	0	0	0	0	134,394	217,285
Trade Debtors	0	2,264	1,068	1,714	21,429	6,471	10,468	15,949	37,984	24,213	30,151	10,206	10,452	5,820
Group Debtors	0	0	1,503	5,503	0	0	0	0	0	0	0	0	0	0
Misc Debtors	2,337	195	150	8,271	0	0	2,692	0	0	0	0	1,704	0	0
Cash	2,510	3,873	15,017	7,021	0	0	11,697	5,016	0	665	5,307	207	4,012	8,615
misc current assets	0	0	0	0	192	290	0	0	0	0	0	0	0	0
total current assets	4,847	6,332	17,738	22,509	21,621	6,761	42,609	20,965	37,984	24,878	35,458	12,117	148,858	231,720
total assets	114,847	141,376	227,738	157,553	156,665	141,155	177,003	155,359	172,378	159,272	169,852	146,511	148,858	231,720
Bank overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Bank loan	7,500	5,200	5,000	4,831	0	0	0	0	0	0	0	0	0	0
Trade Creditors	54,000	134	1,061	20	36,908	23,677	45,358	21,831	32,102	18,469	39,371	11,640	3,400	7,812
Group/Directors Accounts	1,582	13,280	13,640	25,459	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
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	2,501	4,202	3,976	4,176	0	0	0	0	0	0	0	0	0	0
total current liabilities	65,583	22,816	23,677	34,486	36,908	23,677	45,358	21,831	32,102	18,469	39,371	11,640	3,400	7,812
loans	62,995	72,470	77,673	80,317	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
Accruals and Deferred Income	0	0	0	0	1,308	1,695	0	0	0	0	0	0	0	0
other liabilities	0	0	0	0	85,174	90,004	94,992	99,692	104,248	108,694	113,005	117,196	125,402	112,212
provisions	0	0	0	0	0	0	2	2	2	2	0	0	0	0
total long term liabilities	62,995	72,470	77,673	80,317	86,482	91,699	94,994	99,694	104,250	108,696	113,005	117,196	125,402	112,212
total liabilities	128,578	95,286	101,350	114,803	123,390	115,376	140,352	121,525	136,352	127,165	152,376	128,836	128,802	120,024
net assets	-13,731	46,090	126,388	42,750	33,275	25,779	36,651	33,834	36,026	32,107	17,476	17,675	20,056	111,696
total shareholders funds	-13,731	46,090	126,388	42,750	33,275	25,779	36,651	33,834	36,026	32,107	17,476	17,675	20,056	111,696

	Mar 2023	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	17,156	-461	15,826	14,175	9,254	-10,587	3,500	-2,205	4,959	18,986	-213	-2,392	-91,672	154,695
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-2,583	0	-2,037	-2,152	-1,758	0	-704	0	-1,042	-4,370	0	0	0	-43,321
Stock	0	0	0	0	0	-17,752	17,752	0	0	0	0	-134,394	-82,891	217,285
Debtors	2,337	-262	-12,767	-5,941	14,958	-6,689	-2,789	-22,035	13,771	-5,938	18,241	1,458	4,632	5,820
Creditors	54,000	-927	1,041	-36,888	13,231	-21,681	23,527	-10,271	13,633	-20,902	27,731	8,240	-4,412	7,812
Accruals and Deferred Income	2,501	226	-200	2,868	-387	1,695	0	0	0	0	0	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	-2	0	0	0	2	0	0	0	0
Cash flow from operations	68,737	-900	27,397	-16,056	5,382	-6,134	11,360	9,559	3,779	-346	9,277	138,784	-17,825	-103,919
Investing Activities
capital expenditure	-110,000	74,956	-74,956	0	-650	0	0	0	0	0	0	-134,394	0	0
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-110,000	74,956	-74,956	0	-650	0	0	0	0	0	0	-134,394	0	0
Financing Activities
Bank loans	7,500	200	169	4,831	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	1,582	-360	-11,819	25,459	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
Long term loans	62,995	-5,203	-2,644	80,317	0	0	0	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	0	0	0	-85,174	-4,830	-4,988	-4,700	-4,556	-4,446	-4,311	-4,191	-8,206	13,190	112,212
share issue	-24,744	-74,956	74,956	300	0	-300	0	0	0	0	0	0	0	300
interest	-3,560	-4,881	-5,108	-2,848	0	15	21	13	2	15	14	11	32	22
cash flow from financing	43,773	-85,200	55,554	22,885	-4,830	-5,273	-4,679	-4,543	-4,444	-4,296	-4,177	-8,195	13,222	112,534
cash and cash equivalents
cash	2,510	-11,144	7,996	7,021	0	-11,697	6,681	5,016	-665	-4,642	5,100	-3,805	-4,603	8,615
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	2,510	-11,144	7,996	7,021	0	-11,697	6,681	5,016	-665	-4,642	5,100	-3,805	-4,603	8,615

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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READY 2 LET (PROPERTIES) LIMITED group structure

Ready 2 Let (Properties) Limited has no subsidiary companies.

Ultimate parent company

READY 2 LET (PROPERTIES) LIMITED

05269047

READY 2 LET (PROPERTIES) LIMITED Shareholders

mr andrew david ford	33.33%
mr darren john joseph purdy	33.33%
mr stephen laverick	33.33%

Ready 2 Let (Properties) Limited currently has 2 directors. The longest serving directors include Mr Stephen Laverick (Oct 2004) and Mr Darren Purdy (Oct 2004).

officer	country	age	start	end	role
Mr Stephen Laverick	United Kingdom	51 years	Oct 2004	-	Director
Mr Darren Purdy	United Kingdom	55 years	Oct 2004	-	Director

P&L

March 2023

turnover

133.9k

operating profit

17.2k

gross margin

74.6%

turnover

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

Balance Sheet

March 2023

net assets

-13.7k

total assets

114.8k

cash

2.5k

net assets

Total assets minus all liabilities

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company number

05269047

Type

Private limited with Share Capital

industry

68209 - Letting and operating of own or leased real estate (other than Housing Association real estate and conference and exhibition services) n.e.c.

incorporation date

October 2004

accounts

Total Exemption Full

ultimate parent company

None

previous names

N/A

last accounts submitted

March 2023

address

27 northumberland square, north shields, northumberland, tyne & wear, NE30 1PW

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 20 charges/mortgages relating to ready 2 let (properties) limited. Currently there are 18 open charges and 2 have been satisfied in the past.

ready 2 let (properties) limited Company Information

ready 2 let (properties) limited Estimated Valuation

ready 2 let (properties) limited Estimated Valuation

ready 2 let (properties) limited Estimated Valuation

Ready 2 Let (properties) Limited Overview

Ready 2 Let (properties) Limited Health Check

READY 2 LET (PROPERTIES) LIMITED financials

ready 2 let (properties) limited Credit Report and Business Information

Ready 2 Let (properties) Limited Competitor Analysis

ready 2 let (properties) limited Ownership

ready 2 let (properties) limited directors

ready 2 let (properties) limited company details

ready 2 let (properties) limited Charges & Mortgages

ready 2 let (properties) limited Companies House Filings - See Documents