West Marine Services Limited

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west marine services limited Company Information

Live

EstablishedMicroDeclining

Company Number

05597002

Website

http://marineenginespares.co.uk

Registered Address

units 1 & 2, sussex court, thirsk industrial estate, thirsk, yorkshire, YO7 3TA

Industry

Other engineering activities (not including engineering design for industrial process and production or engineering related scientific and technical consulting activities)

Telephone

Next Accounts Due

July 2025

Group Structure

View All

Directors

Charles Fawcett2 Years

Jake Cronk2 Years

Shareholders

twisted marine limited 100%

west marine services limited Estimated Valuation

£399.2k

Pomanda estimates the enterprise value of WEST MARINE SERVICES LIMITED at £399.2k based on Net Assets of £136k and 2.93x industry multiple (adjusted for liquidity).

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West Marine Services Limited is a live company located in thirsk, YO7 3TA with a Companies House number of 05597002. It operates in the other engineering activities sector, SIC Code 71129. Founded in October 2005, it's largest shareholder is twisted marine limited with a 100% stake. West Marine Services Limited is a established, micro sized company, Pomanda has estimated its turnover at £404k with declining growth in recent years.

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Pomanda's financial health check has awarded West Marine Services Limited a 4 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 6 areas for improvement. Company Health Check FAQs

Health Rating4out of 5

4 Strong

2 Regular

6 Weak

Size

annual sales of £404k, make it smaller than the average company (£2.9m)

Growth

3 year (CAGR) sales growth of -1%, show it is growing at a slower rate (6.6%)

EXPORT

West Marine Services Limited's latest turnover from October 2023 is estimated at £404 thousand and the company has net assets of £136 thousand. According to their latest financial statements, West Marine Services Limited has 6 employees and maintains cash reserves of £10.3 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Oct 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	404,006	342,304	594,708	415,241	370,369	510,180	226,034	699,124	628,909	549,618	476,424	406,816	382,127	358,017	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	267,724	234,169	403,969	288,934	250,816	332,914	146,803	440,282	400,256	348,343	309,430	262,222	233,681	213,026	0
Gross Profit	136,282	108,134	190,739	126,308	119,553	177,266	79,231	258,842	228,653	201,274	166,994	144,594	148,446	144,992	0
Admin Expenses	104,706	97,957	168,577	134,116	86,829	171,579	41,623	248,248	226,351	205,516	162,840	135,617	128,796	136,436	110
Operating Profit	31,576	10,177	22,162	-7,808	32,724	5,687	37,608	10,594	2,302	-4,242	4,154	8,977	19,650	8,556	-110
Interest Payable	3,415	3,364	2,907	1,525	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	699	1,628	133	130	781	764	218	123	223	267	237	229	274	176	40
Pre-Tax Profit	28,860	8,441	19,388	-9,203	33,505	6,451	37,826	10,718	2,525	-3,975	4,391	9,205	19,924	8,732	-70
Tax	-7,215	-1,604	-3,684	0	-6,366	-1,226	-7,187	-2,143	-505	0	-1,010	-2,209	-5,180	-2,445	0
Profit After Tax	21,645	6,837	15,704	-9,203	27,139	5,225	30,639	8,574	2,020	-3,975	3,381	6,996	14,744	6,287	-70
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	21,645	6,837	15,704	-9,203	27,139	5,225	30,639	8,574	2,020	-3,975	3,381	6,996	14,744	6,287	-70
Employee Costs	307,106	341,098	320,884	305,530	278,909	375,300	128,196	328,974	230,531	230,245	179,536	168,056	170,789	155,300	0
Number Of Employees	6	7	7	7	6	8	3	7	5	5	4	4	4	4	0
EBITDA*	32,597	10,633	22,953	-7,502	33,141	6,235	38,338	12,771	4,803	-865	10,181	15,484	25,742	11,126	1,120

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Oct 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	4,005	1,373	1,829	918	1,224	1,641	2,189	2,918	5,095	3,429	14,414	18,892	19,372	9,541	3,689
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	0	0	0	2,012	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	0
Total Fixed Assets	4,005	1,373	1,829	2,930	1,224	1,641	2,189	2,918	5,095	3,429	14,414	18,892	19,372	9,541	3,689
Stock & work in progress	70,987	24,750	27,500	25,000	25,000	25,000	25,000	25,000	31,000	42,000	59,500	65,288	45,785	42,000	3,000
Trade Debtors	52,677	22,101	140,995	41,424	64,999	77,858	36,792	83,186	71,758	59,332	31,965	24,011	31,070	22,552	11,351
Group Debtors	136,500	136,500	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	6,273	6,148	0	29,863	29,340	25,292	24,413	0	0	0	0	0	0	0	0
Cash	10,314	17,664	127,033	139,633	121,282	86,937	116,825	57,470	41,095	48,197	58,542	36,102	55,322	54,295	15,955
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	276,751	207,163	295,528	235,920	240,621	215,087	203,030	165,656	143,853	149,529	150,007	125,401	132,177	118,847	30,306
total assets	280,756	208,536	297,357	238,850	241,845	216,728	205,219	168,574	148,948	152,958	164,421	144,293	151,549	128,388	33,995
Bank overdraft	12,316	7,148	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	33,710	28,424	30,190	37,281	19,617	44,841	33,785	130,517	119,465	125,495	132,983	116,236	130,488	122,071	33,965
Group/Directors Accounts	57,814	0	0	11,523	57,510	61,034	61,189	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	0	0	0	0	0	0	0	0	0
other current liabilities	26,325	29,487	114,279	48,189	63,658	36,932	41,549	0	0	0	0	0	0	0	0
total current liabilities	130,165	65,059	144,469	96,993	140,785	142,807	136,523	130,517	119,465	125,495	132,983	116,236	130,488	122,071	33,965
loans	13,547	29,079	45,327	50,000	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
provisions	1,001	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	14,548	29,079	45,327	50,000	0	0	0	0	0	0	0	0	0	0	0
total liabilities	144,713	94,138	189,796	146,993	140,785	142,807	136,523	130,517	119,465	125,495	132,983	116,236	130,488	122,071	33,965
net assets	136,043	114,398	107,561	91,857	101,060	73,921	68,696	38,057	29,483	27,463	31,438	28,057	21,061	6,317	30
total shareholders funds	136,043	114,398	107,561	91,857	101,060	73,921	68,696	38,057	29,483	27,463	31,438	28,057	21,061	6,317	30

	Oct 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	31,576	10,177	22,162	-7,808	32,724	5,687	37,608	10,594	2,302	-4,242	4,154	8,977	19,650	8,556	-110
Depreciation	1,021	456	791	306	417	548	730	2,177	2,501	3,377	6,027	6,507	6,092	2,570	1,230
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-7,215	-1,604	-3,684	0	-6,366	-1,226	-7,187	-2,143	-505	0	-1,010	-2,209	-5,180	-2,445	0
Stock	46,237	-2,750	2,500	0	0	0	0	-6,000	-11,000	-17,500	-5,788	19,503	3,785	39,000	3,000
Debtors	30,701	23,754	69,708	-23,052	-8,811	41,945	-21,981	11,428	12,426	27,367	7,954	-7,059	8,518	11,201	11,351
Creditors	5,286	-1,766	-7,091	17,664	-25,224	11,056	-96,732	11,052	-6,030	-7,488	16,747	-14,252	8,417	88,106	33,965
Accruals and Deferred Income	-3,162	-84,792	66,090	-15,469	26,726	-4,617	41,549	0	0	0	0	0	0	0	0
Deferred Taxes & Provisions	1,001	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	-48,431	-98,533	6,060	17,745	37,088	-30,497	-2,051	16,252	-3,158	-18,220	23,752	-13,421	16,676	46,586	20,734
Investing Activities
capital expenditure	-3,653	0	-1,702	0	0	0	-1	0	-4,167	7,608	-1,549	-6,027	-15,923	-8,422	-4,919
Change in Investments	0	0	-2,012	2,012	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-3,653	0	310	-2,012	0	0	-1	0	-4,167	7,608	-1,549	-6,027	-15,923	-8,422	-4,919
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	57,814	0	-11,523	-45,987	-3,524	-155	61,189	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	-15,532	-16,248	-4,673	50,000	0	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	0
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	100
interest	-2,716	-1,736	-2,774	-1,395	781	764	218	123	223	267	237	229	274	176	40
cash flow from financing	39,566	-17,984	-18,970	2,618	-2,743	609	61,407	123	223	267	237	229	274	176	140
cash and cash equivalents
cash	-7,350	-109,369	-12,600	18,351	34,345	-29,888	59,355	16,375	-7,102	-10,345	22,440	-19,220	1,027	38,340	15,955
overdraft	5,168	7,148	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	-12,518	-116,517	-12,600	18,351	34,345	-29,888	59,355	16,375	-7,102	-10,345	22,440	-19,220	1,027	38,340	15,955

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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WEST MARINE SERVICES LIMITED group structure

West Marine Services Limited has no subsidiary companies.

Ultimate parent company

TWISTED MARINE LIMITED

12129314

1 parent

WEST MARINE SERVICES LIMITED

05597002

WEST MARINE SERVICES LIMITED Shareholders

twisted marine limited

100%

West Marine Services Limited currently has 2 directors. The longest serving directors include Mr Charles Fawcett (Jul 2022) and Mr Jake Cronk (Jul 2022).

officer	country	age	start	end	role
Mr Charles Fawcett	United Kingdom	46 years	Jul 2022	-	Director
Mr Jake Cronk	England	33 years	Jul 2022	-	Director

P&L

October 2023

turnover

404k

+18%

operating profit

31.6k

gross margin

33.8%

+6.78%

turnover

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

Balance Sheet

October 2023

net assets

136k

+0.19%

total assets

280.8k

+0.35%

cash

10.3k

-0.42%

net assets

Total assets minus all liabilities

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company number

05597002

Type

Private limited with Share Capital

industry

71129 - Other engineering activities (not including engineering design for industrial process and production or engineering related scientific and technical consulting activities)

incorporation date

October 2005

ultimate parent company

TWISTED MARINE LIMITED

previous names

N/A

address

units 1 & 2, sussex court, thirsk industrial estate, thirsk, yorkshire, YO7 3TA

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west marine services limited Company Information

west marine services limited Estimated Valuation

west marine services limited Estimated Valuation

west marine services limited Estimated Valuation

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WEST MARINE SERVICES LIMITED financials

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