mitg ltd

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mitg ltd Company Information

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Company Number

05372321

Registered Address

43 coniscliffe road, darlington, county durham, DL3 7EH

Industry

Other human resources provision

 

Telephone

-

Next Accounts Due

December 2024

Group Structure

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Directors

Nicholas Vassilounis19 Years

Karl Gordon11 Years

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Shareholders

jcb ne ltd 20%

gc84 limited 20%

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mitg ltd Estimated Valuation

£384.2k

Pomanda estimates the enterprise value of MITG LTD at £384.2k based on a Turnover of £1.1m and 0.35x industry multiple (adjusted for size and gross margin).

mitg ltd Estimated Valuation

£31.7k

Pomanda estimates the enterprise value of MITG LTD at £31.7k based on an EBITDA of £10.9k and a 2.91x industry multiple (adjusted for size and gross margin).

mitg ltd Estimated Valuation

£942

Pomanda estimates the enterprise value of MITG LTD at £942 based on Net Assets of £501 and 1.88x industry multiple (adjusted for liquidity).

Valuation Calculator
This valuation is estimated based on financial data from March 2023 

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Mitg Ltd Overview

Mitg Ltd is a live company located in county durham, DL3 7EH with a Companies House number of 05372321. It operates in the human resources provision and management of human resources functions sector, SIC Code 78300. Founded in February 2005, it's largest shareholder is jcb ne ltd with a 20% stake. Mitg Ltd is a established, small sized company, Pomanda has estimated its turnover at £1.1m with healthy growth in recent years.

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Mitg Ltd Health Check

Pomanda's financial health check has awarded Mitg Ltd a 2 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 Check Image
Health Rating2out of 5
positive_score

2 Strong

positive_score

3 Regular

positive_score

6 Weak

size

Size

annual sales of £1.1m, make it smaller than the average company (£5.4m)

£1.1m - Mitg Ltd

£5.4m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of 6%, show it is growing at a faster rate (4%)

6% - Mitg Ltd

4% - Industry AVG

production

Production

with a gross margin of 7.3%, this company has a higher cost of product (21.2%)

7.3% - Mitg Ltd

21.2% - Industry AVG

profitability

Profitability

an operating margin of 0% make it less profitable than the average company (3.7%)

0% - Mitg Ltd

3.7% - Industry AVG

employees

Employees

with 36 employees, this is similar to the industry average (34)

36 - Mitg Ltd

34 - Industry AVG

paystructure

Pay Structure

on an average salary of £52.8k, the company has an equivalent pay structure (£52.8k)

£52.8k - Mitg Ltd

£52.8k - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £30.5k, this is less efficient (£97.6k)

£30.5k - Mitg Ltd

£97.6k - Industry AVG

debtordays

Debtor Days

it gets paid by customers after 50 days, this is near the average (53 days)

50 days - Mitg Ltd

53 days - Industry AVG

creditordays

Creditor Days

its suppliers are paid after 59 days, this is slower than average (10 days)

59 days - Mitg Ltd

10 days - Industry AVG

stockdays

Stock Days

There is insufficient data available for this Key Performance Indicator!

- - Mitg Ltd

- - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 3 weeks, this is less cash available to meet short term requirements (12 weeks)

3 weeks - Mitg Ltd

12 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 99.7%, this is a higher level of debt than the average (75.1%)

99.7% - Mitg Ltd

75.1% - Industry AVG

mitg ltd Credit Report and Business Information

Very Low Risk70 - 100
Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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Mitg Ltd Competitor Analysis

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Perform a competitor analysis for mitg ltd by selecting its closest rivals and benchmarking them against 12 key performance metrics.

mitg ltd Ownership

MITG LTD group structure

Mitg Ltd has no subsidiary companies.

Ultimate parent company

MITG LTD

05372321

MITG LTD Shareholders

jcb ne ltd 20%
gc84 limited 20%
lhaf ltd 20%
karhel ltd 20%
dalts ltd 20%

mitg ltd directors

Mitg Ltd currently has 5 directors. The longest serving directors include Mr Nicholas Vassilounis (Feb 2005) and Mr Karl Gordon (Apr 2012).

officercountryagestartendrole
Mr Nicholas Vassilounis58 years Feb 2005- Director
Mr Karl Gordon45 years Apr 2012- Director
Miss Jenny Beadnall45 years Apr 2012- Director
Mr Lee HarrisEngland41 years Apr 2012- Director
Mr Simon DaviesEngland46 years Jun 2018- Director

MITG LTD financials

EXPORTms excel logo

Mitg Ltd's latest turnover from March 2023 is estimated at £1.1 million and the company has net assets of £501. According to their latest financial statements, Mitg Ltd has 36 employees and maintains cash reserves of £10.9 thousand as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016Mar 2015Mar 2014Mar 2013Mar 2012Mar 2011Mar 2010
Turnover1,098,4241,093,381889,713928,5671,585,5671,429,2821,366,4111,145,8451,022,306452,617760,142431,8561,343,1961,340,390
Other Income Or Grants00000000000000
Cost Of Sales1,018,6151,024,900840,066843,3621,432,6941,275,7411,216,4591,020,244918,323408,765669,768383,7721,146,8191,209,336
Gross Profit79,80968,48149,64785,206152,872153,541149,952125,601103,98343,85290,37548,084196,377131,055
Admin Expenses80,09267,00648,15185,211152,915153,563149,956125,651104,04043,988125,951167,71090,55522,687
Operating Profit-2831,4751,496-5-43-22-4-50-57-136-35,576-119,626105,822108,368
Interest Payable01,6881,52500000000000
Interest Receivable283212305432245057136325330295164
Pre-Tax Profit0010000000-35,251-119,296106,117108,532
Tax000000000000-29,713-30,389
Profit After Tax0010000000-35,251-119,29676,40478,143
Dividends Paid00000000000000
Retained Profit0010000000-35,251-119,29676,40478,143
Employee Costs1,900,2651,681,5161,391,6131,395,0001,554,8521,490,5621,524,3841,264,286189,60693,709140,83693,872222,086169,358
Number Of Employees3634293030313126423254
EBITDA*10,88012,49814,11110,9709,08510,68110,27010,04812,85413,736-23,117-108,897108,665108,368

* Earnings Before Interest, Tax, Depreciation and Amortisation

Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016Mar 2015Mar 2014Mar 2013Mar 2012Mar 2011Mar 2010
Tangible Assets31,43428,79733,52941,18743,28937,00247,56043,41346,57462,54953,45051,12443,5890
Intangible Assets00000000000000
Investments & Other00000000000000
Debtors (Due After 1 year)00000000000000
Total Fixed Assets31,43428,79733,52941,18743,28937,00247,56043,41346,57462,54953,45051,12443,5890
Stock & work in progress00000000000000
Trade Debtors152,649138,254084,788222,692210,613232,304196,414156,44054,32284,65842,758283,381231,487
Group Debtors00000000000000
Misc Debtors00108,07200000000000
Cash10,9242,41254,2455,5423,5577,8031,0691,85918,1734,52349,96279,91552,18365,636
misc current assets000000000000082,379
total current assets163,573140,666162,31790,330226,249218,416233,373198,273174,61358,845134,620122,673335,564379,502
total assets195,007169,463195,846131,517269,538255,418280,933241,686221,187121,394188,070173,797379,153379,502
Bank overdraft007,10800000000000
Bank loan00000000000000
Trade Creditors 165,684131,13619,330123,465261,147247,852271,897233,130212,136109,320178,016129,442217,364301,059
Group/Directors Accounts00000000000000
other short term finances00000000000000
hp & lease commitments00000000000000
other current liabilities00119,84900000000000
total current liabilities165,684131,136146,287123,465261,147247,852271,897233,130212,136109,320178,016129,442217,364301,059
loans0042,89300000000000
hp & lease commitments00000000000000
Accruals and Deferred Income00000000000000
other liabilities22,45232,5390000008,55111,5749,5548,8046,9420
provisions6,3705,2876,1657,5527,8917,0668,5368,056000000
total long term liabilities28,82237,82649,0587,5527,8917,0668,5368,0568,55111,5749,5548,8046,9420
total liabilities194,506168,962195,345131,017269,038254,918280,433241,186220,687120,894187,570138,246224,306301,059
net assets50150150150050050050050050050050035,551154,84778,443
total shareholders funds50150150150050050050050050050050035,551154,84778,443
Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016Mar 2015Mar 2014Mar 2013Mar 2012Mar 2011Mar 2010
Operating Activities
Operating Profit-2831,4751,496-5-43-22-4-50-57-136-35,576-119,626105,822108,368
Depreciation11,16311,02312,61510,9759,12810,70310,27410,09812,91113,87212,45910,7292,8430
Amortisation00000000000000
Tax000000000000-29,713-30,389
Stock00000000000000
Debtors14,39530,18223,284-137,90412,079-21,69135,89039,974102,118-30,33641,900-240,62351,894231,487
Creditors34,548111,806-104,135-137,68213,295-24,04538,76720,994102,816-68,69648,574-87,922-83,695301,059
Accruals and Deferred Income0-119,849119,84900000000000
Deferred Taxes & Provisions1,083-878-1,387-339825-1,4704808,056000000
Cash flow from operations32,116-26,6055,15410,85311,1266,85713,627-87613,552-24,624-16,44343,804-56,637147,551
Investing Activities
capital expenditure-13,800-6,291-4,957-8,873-15,415-145-14,421-6,9373,064-22,971-14,785-18,264-46,4320
Change in Investments00000000000000
cash flow from investments-13,800-6,291-4,957-8,873-15,415-145-14,421-6,9373,064-22,971-14,785-18,264-46,4320
Financing Activities
Bank loans00000000000000
Group/Directors Accounts00000000000000
Other Short Term Loans 00000000000000
Long term loans0-42,89342,89300000000000
Hire Purchase and Lease Commitments00000000000000
other long term liabilities-10,08732,53900000-8,551-3,0232,0207501,8626,9420
share issue000000000020000300
interest283-1,476-1,4955432245057136325330295164
cash flow from financing-9,804-11,83041,398543224-8,501-2,9662,1561,2752,1927,237464
cash and cash equivalents
cash8,512-51,83348,7031,985-4,2466,734-790-16,31413,650-45,439-29,95327,732-13,45365,636
overdraft0-7,1087,10800000000000
change in cash8,512-44,72541,5951,985-4,2466,734-790-16,31413,650-45,439-29,95327,732-13,45365,636

P&L

March 2023

turnover

1.1m

0%

operating profit

-283.4

0%

gross margin

7.3%

+16.01%

turnover

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

Balance Sheet

March 2023

net assets

501

0%

total assets

195k

+0.15%

cash

10.9k

+3.53%

net assets

Total assets minus all liabilities

mitg ltd company details

company number

05372321

Type

Private limited with Share Capital

industry

78300 - Other human resources provision

incorporation date

February 2005

age

19

accounts

Unaudited Abridged

ultimate parent company

None

previous names

mitchell gordon limited (January 2011)

mitchell gordon services limited (May 2005)

incorporated

UK

address

43 coniscliffe road, darlington, county durham, DL3 7EH

last accounts submitted

March 2023

mitg ltd 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 mitg ltd.

charges

mitg ltd Companies House Filings - See Documents

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