Mgs Technical Plastics Limited

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mgs technical plastics limited Company Information

Live

EstablishedMidDeclining

Company Number

05641792

Website

http://plasticinjectionmoulding.co.uk

Registered Address

unit 7 centurion business park, davyfield road, blackburn, BB1 2QY

Industry

Manufacture of other plastic products

Telephone

01254267750

Next Accounts Due

December 2024

Group Structure

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Directors

John Sturgess18 Years

Neil Garrity9 Years

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Shareholders

john sturgess 81.1%

neil garrity 10%

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mgs technical plastics limited Estimated Valuation

£5.2m

Pomanda estimates the enterprise value of MGS TECHNICAL PLASTICS LIMITED at £5.2m based on Net Assets of £2.9m and 1.78x industry multiple (adjusted for liquidity).

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Mgs Technical Plastics Limited is a live company located in blackburn, BB1 2QY with a Companies House number of 05641792. It operates in the manufacture of other plastic products sector, SIC Code 22290. Founded in December 2005, it's largest shareholder is john sturgess with a 81.1% stake. Mgs Technical Plastics Limited is a established, mid sized company, Pomanda has estimated its turnover at £6.3m with declining growth in recent years.

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Pomanda's financial health check has awarded Mgs Technical Plastics Limited a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 4 areas for improvement. Company Health Check FAQs

Health Rating4.5out of 5

3 Strong

5 Regular

4 Weak

Size

annual sales of £6.3m, make it smaller than the average company (£15.1m)

Growth

3 year (CAGR) sales growth of -1%, show it is growing at a slower rate (6.4%)

EXPORT

Mgs Technical Plastics Limited's latest turnover from March 2023 is estimated at £6.3 million and the company has net assets of £2.9 million. According to their latest financial statements, Mgs Technical Plastics Limited has 58 employees and maintains cash reserves of £422.4 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Apr 2013	Mar 2012	Mar 2011	Mar 2010
Turnover	6,284,474	5,989,790	4,686,262	6,411,776	5,369,603	4,904,624	5,960,082	3,820,528	3,081,162	2,499,869	4,390,885	6,414,893	5,283,828	6,024,984
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	4,609,008	4,290,079	3,359,755	4,586,205	3,833,292	3,430,560	4,142,563	2,675,056	2,179,525	1,772,555	3,150,822	4,577,304	3,664,059	4,180,808
Gross Profit	1,675,466	1,699,711	1,326,507	1,825,572	1,536,312	1,474,064	1,817,519	1,145,472	901,637	727,314	1,240,063	1,837,588	1,619,769	1,844,176
Admin Expenses	1,136,734	1,481,177	1,609,740	1,545,700	1,232,214	709,341	822,719	749,004	739,206	623,254	1,169,428	1,639,742	1,536,149	1,480,149
Operating Profit	538,732	218,534	-283,233	279,872	304,098	764,723	994,800	396,468	162,431	104,060	70,635	197,846	83,620	364,027
Interest Payable	84,029	64,630	62,692	54,218	52,563	54,467	49,963	58,771	63,663	71,907	60,614	41,380	46,310	22,303
Interest Receivable	13,304	2,521	358	491	5,751	3,251	720	212	25	2	78	150	149	76
Pre-Tax Profit	468,007	156,425	-345,567	226,144	257,286	713,506	945,556	337,909	98,794	32,156	10,099	156,616	37,460	341,800
Tax	-88,921	-29,721	0	-42,967	-48,884	-135,566	-189,111	-67,582	-20,747	-7,396	-2,323	-40,720	-10,489	-95,704
Profit After Tax	379,086	126,704	-345,567	183,177	208,402	577,940	756,445	270,327	78,047	24,760	7,776	115,896	26,971	246,096
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	379,086	126,704	-345,567	183,177	208,402	577,940	756,445	270,327	78,047	24,760	7,776	115,896	26,971	246,096
Employee Costs	2,083,307	1,859,282	1,513,486	1,696,044	1,600,745	2,038,270	1,826,433	1,360,385	717,610	588,011	965,150	1,525,154	1,304,247	1,513,633
Number Of Employees	58	54	46	52	50	65	61	47	25	21	35	57	49	57
EBITDA*	744,892	430,485	-70,811	494,107	513,726	955,448	1,129,000	510,675	286,325	256,297	161,145	297,818	171,760	408,281

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Apr 2013	Mar 2012	Mar 2011	Mar 2010
Tangible Assets	2,740,383	2,896,343	2,781,636	2,858,438	2,940,740	2,716,264	2,312,387	1,832,739	1,846,852	1,976,529	2,042,238	623,531	623,622	501,442
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	5,000	15,000
Investments & Other	1	1	1	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	2,740,384	2,896,344	2,781,637	2,858,438	2,940,740	2,716,264	2,312,387	1,832,739	1,846,852	1,976,529	2,042,238	623,531	628,622	516,442
Stock & work in progress	664,493	581,653	524,179	504,353	391,275	338,006	292,479	239,268	208,266	205,939	159,667	323,000	370,000	362,310
Trade Debtors	1,132,983	1,211,823	951,907	1,526,391	1,168,065	868,518	1,338,119	769,447	681,794	474,670	988,047	1,515,134	1,293,634	1,418,599
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	35,189	39,485	20,295	45,505	79,591	16,438	105,695	19,865	0	0	0	0	0	0
Cash	422,417	203,670	468,724	246,692	734,962	798,700	501,542	74,563	10,118	1	883	30,439	29,579	30,204
misc current assets	0	0	0	0	0	0	27,670	0	0	0	0	0	0	0
total current assets	2,255,082	2,036,631	1,965,105	2,322,941	2,373,893	2,021,662	2,265,505	1,103,143	900,178	680,610	1,148,597	1,868,573	1,693,213	1,811,113
total assets	4,995,466	4,932,975	4,746,742	5,181,379	5,314,633	4,737,926	4,577,892	2,935,882	2,747,030	2,657,139	3,190,835	2,492,104	2,321,835	2,327,555
Bank overdraft	140,029	140,030	138,180	403,307	60,669	58,578	57,517	42,522	0	43,974	276,233	0	0	0
Bank loan	0	0	0	0	0	0	0	0	41,272	0	0	0	0	0
Trade Creditors	593,338	765,025	545,711	599,812	759,394	553,761	1,047,368	491,797	607,643	642,527	954,443	1,313,805	990,276	1,109,175
Group/Directors Accounts	0	0	17,734	9,766	15,948	13,185	3,878	0	0	0	0	0	0	0
other short term finances	0	0	0	0	0	0	0	55,241	358,150	114,555	304,276	534,552	738,685	686,231
hp & lease commitments	138,075	155,742	81,796	146,864	247,138	190,962	108,751	95,544	111,843	138,295	6,177	9,078	11,970	21,110
other current liabilities	305,671	137,788	314,754	231,984	442,148	360,982	361,201	409,184	0	0	49,488	44,500	42,900	42,288
total current liabilities	1,177,113	1,198,585	1,098,175	1,391,733	1,525,297	1,177,468	1,578,715	1,094,288	1,118,908	939,351	1,590,617	1,901,935	1,783,831	1,858,804
loans	611,267	748,267	888,500	625,483	688,185	749,986	809,828	633,723	677,441	723,472	750,000	0	0	0
hp & lease commitments	46,440	184,308	119,925	182,003	307,478	252,317	223,492	27,095	80,467	190,312	25,936	32,628	41,715	26,134
Accruals and Deferred Income	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	38,432	71,358	134,390	130,694
provisions	244,707	262,142	224,353	217,741	209,642	179,737	176,972	151,615	93,973	101,203	95,257	77,220	68,832	45,827
total long term liabilities	902,414	1,194,717	1,232,778	1,025,227	1,205,305	1,182,040	1,210,292	812,433	851,881	1,014,987	909,625	181,206	244,937	202,655
total liabilities	2,079,527	2,393,302	2,330,953	2,416,960	2,730,602	2,359,508	2,789,007	1,906,721	1,970,789	1,954,338	2,500,242	2,083,141	2,028,768	2,061,459
net assets	2,915,939	2,539,673	2,415,789	2,764,419	2,584,031	2,378,418	1,788,885	1,029,161	776,241	702,801	690,593	408,963	293,067	266,096
total shareholders funds	2,915,939	2,539,673	2,415,789	2,764,419	2,584,031	2,378,418	1,788,885	1,029,161	776,241	702,801	690,593	408,963	293,067	266,096

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Apr 2013	Mar 2012	Mar 2011	Mar 2010
Operating Activities
Operating Profit	538,732	218,534	-283,233	279,872	304,098	764,723	994,800	396,468	162,431	104,060	70,635	197,846	83,620	364,027
Depreciation	206,160	211,951	212,422	214,235	209,628	190,725	134,200	114,207	123,894	152,237	90,510	94,972	78,140	44,254
Amortisation	0	0	0	0	0	0	0	0	0	0	0	5,000	10,000	0
Tax	-88,921	-29,721	0	-42,967	-48,884	-135,566	-189,111	-67,582	-20,747	-7,396	-2,323	-40,720	-10,489	-95,704
Stock	82,840	57,474	19,826	113,078	53,269	45,527	53,211	31,002	2,327	46,272	-163,333	-47,000	7,690	362,310
Debtors	-83,136	279,106	-599,694	324,240	362,700	-558,858	654,502	107,518	207,124	-513,377	-527,087	221,500	-124,965	1,418,599
Creditors	-171,687	219,314	-54,101	-159,582	205,633	-493,607	555,571	-115,846	-34,884	-311,916	-359,362	323,529	-118,899	1,109,175
Accruals and Deferred Income	167,883	-176,966	82,770	-210,164	81,166	-219	-47,983	409,184	0	-49,488	4,988	1,600	612	42,288
Deferred Taxes & Provisions	-17,435	37,789	6,612	8,099	29,905	2,765	25,357	57,642	-7,230	5,946	18,037	8,388	23,005	45,827
Cash flow from operations	635,028	144,321	544,338	-347,825	365,577	842,152	765,121	655,553	14,013	360,548	512,905	416,115	183,264	-271,042
Investing Activities
capital expenditure	-50,200	-326,658	-135,620	-131,933	-434,104	-594,602	-613,848	-100,094	5,783	-86,528	-1,509,217	-94,881	-200,320	-560,696
Change in Investments	0	0	1	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-50,200	-326,658	-135,621	-131,933	-434,104	-594,602	-613,848	-100,094	5,783	-86,528	-1,509,217	-94,881	-200,320	-560,696
Financing Activities
Bank loans	0	0	0	0	0	0	0	-41,272	41,272	0	0	0	0	0
Group/Directors Accounts	0	-17,734	7,968	-6,182	2,763	9,307	3,878	0	0	0	0	0	0	0
Other Short Term Loans	0	0	0	0	0	0	-55,241	-302,909	243,595	-189,721	-230,276	-204,133	52,454	686,231
Long term loans	-137,000	-140,233	263,017	-62,702	-61,801	-59,842	176,105	-43,718	-46,031	-26,528	750,000	0	0	0
Hire Purchase and Lease Commitments	-155,535	138,329	-127,146	-225,749	111,337	111,036	209,604	-69,671	-136,297	296,494	-9,593	-11,979	6,441	47,244
other long term liabilities	0	0	0	0	0	0	0	0	0	-38,432	-32,926	-63,032	3,696	130,694
share issue	-2,820	-2,820	-3,063	-2,789	-2,789	11,593	3,279	-17,407	-4,607	-12,552	273,854	0	0	20,000
interest	-70,725	-62,109	-62,334	-53,727	-46,812	-51,216	-49,243	-58,559	-63,638	-71,905	-60,536	-41,230	-46,161	-22,227
cash flow from financing	-366,080	-84,567	78,442	-351,149	2,698	20,878	288,382	-533,536	34,294	-42,644	690,523	-320,374	16,430	861,942
cash and cash equivalents
cash	218,747	-265,054	222,032	-488,270	-63,738	297,158	426,979	64,445	10,117	-882	-29,556	860	-625	30,204
overdraft	-1	1,850	-265,127	342,638	2,091	1,061	14,995	42,522	-43,974	-232,259	276,233	0	0	0
change in cash	218,748	-266,904	487,159	-830,908	-65,829	296,097	411,984	21,923	54,091	231,377	-305,789	860	-625	30,204

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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MGS TECHNICAL PLASTICS LIMITED group structure

Mgs Technical Plastics Limited has no subsidiary companies.

Ultimate parent company

MGS TECHNICAL PLASTICS LIMITED

05641792

MGS TECHNICAL PLASTICS LIMITED Shareholders

john sturgess	81.11%
neil garrity	10%
mgs technical plastics ebt ltd	8.88%
matilda sturgess	0.01%

Mgs Technical Plastics Limited currently has 4 directors. The longest serving directors include Mr John Sturgess (Dec 2005) and Mr Neil Garrity (Aug 2014).

officer	age	start	end	role
Mr John Sturgess	62 years	Dec 2005	-	Director
Mr Neil Garrity	58 years	Aug 2014	-	Director
Mr Mark Preston	55 years	Apr 2018	-	Director
Mr Judson Smythe	38 years	Sep 2018	-	Director

P&L

March 2023

turnover

6.3m

+5%

operating profit

538.7k

gross margin

26.7%

-6.05%

turnover

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

Balance Sheet

March 2023

net assets

2.9m

+0.15%

total assets

+0.01%

cash

422.4k

+1.07%

net assets

Total assets minus all liabilities

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company number

05641792

Type

Private limited with Share Capital

industry

22290 - Manufacture of other plastic products

incorporation date

December 2005

age

accounts

Total Exemption Full

ultimate parent company

None

previous names

mg stuma limited (June 2013)

mg plastics limited (September 2009)

incorporated

address

unit 7 centurion business park, davyfield road, blackburn, BB1 2QY

last accounts submitted

March 2023

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 10 charges/mortgages relating to mgs technical plastics limited. Currently there are 4 open charges and 6 have been satisfied in the past.

mgs technical plastics limited Company Information

mgs technical plastics limited Estimated Valuation

mgs technical plastics limited Estimated Valuation

mgs technical plastics limited Estimated Valuation

Mgs Technical Plastics Limited Overview

Mgs Technical Plastics Limited Health Check

MGS TECHNICAL PLASTICS LIMITED financials

mgs technical plastics limited Credit Report and Business Information

Mgs Technical Plastics Limited Competitor Analysis

mgs technical plastics limited Ownership

mgs technical plastics limited directors

mgs technical plastics limited company details

mgs technical plastics limited Charges & Mortgages

mgs technical plastics limited Companies House Filings - See Documents