Mindworks Ltd

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mindworks ltd Company Information

Company Number

05582254

Next Accounts

Dec 2025

Directors

Charles Brown

Stephen Bartlett

Shareholders

invigilatis limited

Group Structure

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Industry

Business and domestic software development

Registered Address

melton court, gibson lane,, melton, hull, HU14 3HH

Website

http://mindworks.ltd.uk

mindworks ltd Estimated Valuation

£5.7m

Pomanda estimates the enterprise value of MINDWORKS LTD at £5.7m based on an EBITDA of £1.4m and a 4.11x industry multiple (adjusted for size and gross margin).

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Mindworks Ltd is a live company located in melton, hull, HU14 3HH with a Companies House number of 05582254. It operates in the business and domestic software development sector, SIC Code 62012. Founded in October 2005, it's largest shareholder is invigilatis limited with a 100% stake. Mindworks Ltd is a mature, micro sized company, Pomanda has estimated its turnover at £288.1k with declining growth in recent years.

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Pomanda's financial health check has awarded Mindworks 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 Rating2out of 5

2 Strong

2 Regular

6 Weak

Size

annual sales of £288.1k, make it smaller than the average company (£3.8m)

Growth

3 year (CAGR) sales growth of -18%, show it is growing at a slower rate (10.5%)

EXPORT

Mindworks Ltd's latest turnover from March 2024 is estimated at £288.1 thousand and the company has net assets of -£195.3 thousand. According to their latest financial statements, Mindworks Ltd has 6 employees and maintains cash reserves of 0 as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Turnover	288,050	271,411	396,774	530,453	296,184	336,075	244,895	237,945	466,967	39,153	307,681	205,415	212,030	325,002	249,834
Other Income Or Grants
Cost Of Sales	167,559	158,063	222,749	305,405	169,331	197,073	144,885	138,930	271,786	21,583	178,168	111,891	110,290	162,911	136,334
Gross Profit	120,491	113,348	174,025	225,048	126,853	139,001	100,009	99,015	195,181	17,570	129,513	93,524	101,740	162,090	113,500
Admin Expenses	-1,267,294	163,762	191,959	258,238	140,897	223,006	172,920	172,112	286,383	88,161	96,955	118,517	284,319	297,262	442,947
Operating Profit	1,387,785	-50,414	-17,934	-33,190	-14,044	-84,005	-72,911	-73,097	-91,202	-70,591	32,558	-24,993	-182,579	-135,172	-329,447
Interest Payable					17,519	32,739	19,721	7,338	769			304	910	1,731	1,125
Interest Receivable					6	136	111	26	25	26	20	37	65	63	20
Pre-Tax Profit	1,387,785	-50,414	-17,934	-33,190	-31,557	-116,607	-92,521	-80,408	-91,946	-70,565	32,578	-25,260	-183,425	-136,840	-330,551
Tax	-346,946										-7,493
Profit After Tax	1,040,839	-50,414	-17,934	-33,190	-31,557	-116,607	-92,521	-80,408	-91,946	-70,565	25,085	-25,260	-183,425	-136,840	-330,551
Dividends Paid
Retained Profit	1,040,839	-50,414	-17,934	-33,190	-31,557	-116,607	-92,521	-80,408	-91,946	-70,565	25,085	-25,260	-183,425	-136,840	-330,551
Employee Costs	407,597	393,450	366,070	395,496	400,278	422,709	411,478	398,177	377,903	53,559	108,017	104,580	104,270	151,109	97,990
Number Of Employees	6	6	6	7	7	7	7	7	7	1	2	2	2	3	2
EBITDA*	1,387,785	-50,414	-17,934	-33,190	-14,044	-83,652	-72,441	-61,060	-48,741	-13,894	89,196	24,343	-133,019	-85,659	-309,677

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Tangible Assets		1,243	1,657	2,350	3,134	1,058	1,411	1,881	1,060	1,414	1,487	4,485	5,295	5,322	6,287
Intangible Assets									11,410	53,517	109,624	125,731	173,838	221,945	120,052
Investments & Other
Debtors (Due After 1 year)
Total Fixed Assets		1,243	1,657	2,350	3,134	1,058	1,411	1,881	12,470	54,931	111,111	130,216	179,133	227,267	126,339
Stock & work in progress
Trade Debtors	52,421	15,111	102,329	166,291	33,883	86,250	32,076	28,800	130,647	3,250	74,676	47,742	48,654	82,406	61,558
Group Debtors
Misc Debtors	3,174	3,742	3,102	3,091	3,275	3,235	3,091	38,103
Cash						11,513	24,874	19,474	1,616	8,520	1,793	6,139	8,612	17,302	8,060
misc current assets
total current assets	55,595	18,853	105,431	169,382	37,158	100,998	60,041	86,377	132,263	11,770	76,469	53,881	57,266	99,708	69,618
total assets	55,595	20,096	107,088	171,732	40,292	102,056	61,452	88,258	144,733	66,701	187,580	184,097	236,399	326,975	195,957
Bank overdraft									891				2,520	15,500	15,500
Bank loan
Trade Creditors	232,692	1,237,993	1,173,934	1,184,666	1,010,313	5,516	7,827	8,585	3,700	315,406	377,678	411,746	462,834	389,012	310,028
Group/Directors Accounts						429,693	422,019	503,965	666,801
other short term finances						574,380	395,658	211,134	22,775
hp & lease commitments
other current liabilities						184,705	211,579	247,684	253,268
total current liabilities	232,692	1,237,993	1,173,934	1,184,666	1,010,313	1,194,294	1,037,083	971,368	947,435	315,406	377,678	411,746	465,354	404,512	325,528
loans													6,828	3,166	19,102
hp & lease commitments
Accruals and Deferred Income	18,197	18,236	118,873	154,851	164,574
other liabilities										462,051	450,093	437,627	404,233	375,888	171,078
provisions
total long term liabilities	18,197	18,236	118,873	154,851	164,574					462,051	450,093	437,627	411,061	379,054	190,180
total liabilities	250,889	1,256,229	1,292,807	1,339,517	1,174,887	1,194,294	1,037,083	971,368	947,435	777,457	827,771	849,373	876,415	783,566	515,708
net assets	-195,294	-1,236,133	-1,185,719	-1,167,785	-1,134,595	-1,092,238	-975,631	-883,110	-802,702	-710,756	-640,191	-665,276	-640,016	-456,591	-319,751
total shareholders funds	-195,294	-1,236,133	-1,185,719	-1,167,785	-1,134,595	-1,092,238	-975,631	-883,110	-802,702	-710,756	-640,191	-665,276	-640,016	-456,591	-319,751

	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Operating Activities
Operating Profit	1,387,785	-50,414	-17,934	-33,190	-14,044	-84,005	-72,911	-73,097	-91,202	-70,591	32,558	-24,993	-182,579	-135,172	-329,447
Depreciation						353	470	627	354	590	531	1,229	1,453	1,406	1,663
Amortisation								11,410	42,107	56,107	56,107	48,107	48,107	48,107	18,107
Tax	-346,946										-7,493
Stock
Debtors	36,742	-86,578	-63,951	132,224	-52,327	54,318	-31,736	-63,744	127,397	-71,426	26,934	-912	-33,752	20,848	61,558
Creditors	-1,005,301	64,059	-10,732	174,353	1,004,797	-2,311	-758	4,885	-311,706	-62,272	-34,068	-51,088	73,822	78,984	310,028
Accruals and Deferred Income	-39	-100,637	-35,978	-9,723	-20,131	-26,874	-36,105	-5,584	253,268
Deferred Taxes & Provisions
Cash flow from operations	-1,243	-414	-693	-784	1,022,949	-167,155	-77,568	1,985	-234,576	-4,740	20,701	-25,833	-25,445	-27,523	-61,207
Investing Activities
capital expenditure	1,243	414	693	784	-2,076			-1,448		-517	-37,533	-419	-1,426	-150,441	-146,109
Change in Investments
cash flow from investments	1,243	414	693	784	-2,076			-1,448		-517	-37,533	-419	-1,426	-150,441	-146,109
Financing Activities
Bank loans
Group/Directors Accounts					-429,693	7,674	-81,946	-162,836	666,801
Other Short Term Loans					-574,380	178,722	184,524	188,359	22,775
Long term loans												-6,828	3,662	-15,936	19,102
Hire Purchase and Lease Commitments
other long term liabilities									-462,051	11,958	12,466	33,394	28,345	204,810	171,078
share issue					-10,800										10,800
interest					-17,513	-32,603	-19,610	-7,312	-744	26	20	-267	-845	-1,668	-1,105
cash flow from financing					-1,032,386	153,793	82,968	18,211	226,781	11,984	12,486	26,299	31,162	187,206	199,875
cash and cash equivalents
cash					-11,513	-13,361	5,400	17,858	-6,904	6,727	-4,346	-2,473	-8,690	9,242	8,060
overdraft								-891	891			-2,520	-12,980		15,500
change in cash					-11,513	-13,361	5,400	18,749	-7,795	6,727	-4,346	47	4,290	9,242	-7,440

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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MINDWORKS LTD group structure

Mindworks Ltd has no subsidiary companies.

Ultimate parent company

INVIGILATIS LIMITED

08057815

1 parent

MINDWORKS LTD

05582254

MINDWORKS LTD Shareholders

invigilatis limited

100%

Mindworks Ltd currently has 2 directors. The longest serving directors include Mr Charles Brown (Apr 2009) and Mr Stephen Bartlett (Jul 2009).

officer	country	age	start	end	role
Mr Charles Brown		70 years	Apr 2009	-	Director
Mr Stephen Bartlett	England	70 years	Jul 2009	-	Director

P&L

March 2024

turnover

288.1k

+6%

operating profit

1.4m

gross margin

41.9%

+0.16%

turnover

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

Balance Sheet

March 2024

net assets

-195.3k

-0.84%

total assets

55.6k

+1.77%

cash

net assets

Total assets minus all liabilities

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company number

05582254

Type

Private limited with Share Capital

industry

62012 - Business and domestic software development

incorporation date

October 2005

ultimate parent company

INVIGILATIS LIMITED

previous names

N/A

address

melton court, gibson lane,, melton, hull, HU14 3HH

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 mindworks ltd. Currently there are 0 open charges and 2 have been satisfied in the past.

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mindworks ltd Company Information

mindworks ltd Estimated Valuation

mindworks ltd Estimated Valuation

mindworks ltd Estimated Valuation

Mindworks Ltd Overview

Mindworks Ltd Health Check

MINDWORKS LTD financials

mindworks ltd Credit Report and Business Information

Mindworks Ltd Competitor Analysis

mindworks ltd Ownership

mindworks ltd directors

mindworks ltd company details

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mindworks ltd Companies House Filings - See Documents