Readie Construction Limited

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readie construction limited Company Information

Live (In Receivership)

EstablishedMegaHigh

Company Number

06069233

Next Accounts

28 days late

Industry

Construction of commercial buildings

Directors

Glenn Read

Paul Stephens

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Shareholders

readie management limited

Group Structure

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Contact

Registered Address

suite 501, unit 2, 94a wycliffe road, northampton, NN1 5JF

Website

www.readieconstruction.co.uk

readie construction limited Estimated Valuation

£178m

Pomanda estimates the enterprise value of READIE CONSTRUCTION LIMITED at £178m based on a Turnover of £421.1m and 0.42x industry multiple (adjusted for size and gross margin).

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Readie Construction Limited is a live company located in northampton, NN1 5JF with a Companies House number of 06069233. It operates in the construction of commercial buildings sector, SIC Code 41201. Founded in January 2007, it's largest shareholder is readie management limited with a 100% stake. Readie Construction Limited is a established, mega sized company, Pomanda has estimated its turnover at £421.1m with high growth in recent years.

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Pomanda's financial health check has awarded Readie Construction Limited a 3.5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 6 areas for improvement. Company Health Check FAQs

Health Rating3.5out of 5

5 Strong

1 Regular

6 Weak

Size

annual sales of £421.1m, make it larger than the average company (£11.3m)

Growth

3 year (CAGR) sales growth of 29%, show it is growing at a faster rate (4.8%)

EXPORT

Readie Construction Limited's latest turnover from March 2023 is £421.1 million and the company has net assets of £1.8 million. According to their latest financial statements, Readie Construction Limited has 260 employees and maintains cash reserves of £12.3 million 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	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Turnover	421,132,002	345,010,501	178,754,561	195,945,643	172,841,305	136,894,277	104,922,983	92,230,702	51,569,433	33,563,772	21,037,539	12,228,742	11,575,623	6,453,970
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	412,177,296	331,202,518	168,946,242	184,103,427	161,485,561	127,649,307	96,257,666	85,286,125	49,199,292	32,051,178	19,317,442	10,849,546	9,686,254	5,489,470
Gross Profit	8,954,706	13,807,983	9,808,319	11,842,216	11,355,744	9,244,970	8,665,317	6,944,577	2,370,141	1,512,594	1,720,097	1,379,196	1,889,369	964,500
Admin Expenses	7,190,090	8,293,570	7,031,998	4,570,074	4,084,273	2,503,465	2,661,630	3,409,677	1,598,195	800,880	1,131,508	892,805	1,850,810	789,479
Operating Profit	1,764,616	5,514,413	2,776,321	7,272,142	7,271,471	6,741,505	6,003,687	3,534,900	771,946	711,714	588,589	486,391	38,559	175,021
Interest Payable	25,637	15,906	51,547	170	417	5,158	663	635	12,563	9,523	9,687	11,422	9,015	12,664
Interest Receivable	0	6,698	2,260	0	238	0	2,123	6	62	4,403	67	880	1,763	2,274
Pre-Tax Profit	1,738,979	5,523,205	3,119,028	7,271,972	7,271,292	6,736,347	6,005,147	3,534,271	507,916	706,594	578,969	475,839	31,307	164,631
Tax	-444,569	-893,876	-110,019	-1,155,168	-1,196,705	-1,220,465	-1,149,269	-805,145	-179,053	-175,729	-138,570	-116,334	-8,766	-38,955
Profit After Tax	1,294,410	4,629,329	3,009,009	6,116,804	6,074,587	5,515,882	4,855,878	2,729,126	328,863	530,865	440,399	359,505	22,541	125,676
Dividends Paid	741,000	5,771,000	3,793,015	6,621,000	4,021,000	8,144,169	5,084,244	0	218,597	293,361	272,156	230,215	0	152,997
Retained Profit	553,410	-1,141,671	-784,006	-504,196	2,053,587	-2,628,287	-228,366	2,729,126	110,266	237,504	168,243	129,290	22,541	-27,321
Employee Costs	19,125,149	16,887,955	12,664,380	10,676,615	9,583,772	6,160,456	5,854,006	4,143,007	2,276,457	1,288,888	1,161,250	356,411	1,903,898	1,089,965
Number Of Employees	260	219	170	166	136	104	90	73	41	23	20	11	51	30
EBITDA*	1,842,172	5,635,324	2,915,400	7,398,271	7,354,422	6,815,737	6,038,011	3,570,420	799,314	731,154	601,484	494,907	47,293	182,011

* 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	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Tangible Assets	356,992	415,578	314,558	423,483	379,319	270,619	107,327	79,052	105,123	522,150	454,700	428,690	437,206	445,940
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)	1,418,469	2,293,148	948,214	1,112,527	1,007,117	816,375	704,892	493,868	0	0	0	0	0	0
Total Fixed Assets	1,775,461	2,708,726	1,262,772	1,536,010	1,386,436	1,086,994	812,219	572,920	105,123	522,150	454,700	428,690	437,206	445,940
Stock & work in progress	7,722,195	5,402,965	3,837,347	1,075,978	214,166	539,412	50,404	285,894	34,583	26,959	33,313	61,136	110,000	150,689
Trade Debtors	44,315,184	61,653,796	38,455,953	31,490,250	23,283,265	17,068,657	20,478,434	13,539,819	10,899,068	6,377,013	1,979,999	2,365,467	1,464,690	216,419
Group Debtors	4,780,183	4,780,183	4,780,183	6,373,183	6,373,183	6,373,093	3,042,250	2,212,600	0	0	0	0	0	0
Misc Debtors	1,356,116	498,334	933,747	1,413,400	266,903	647,380	314,358	1,529,989	109,007	51,907	1,852,071	1,931,200	0	96,226
Cash	12,265,682	11,059,979	13,449,824	5,695,434	11,547,561	2,217,327	14,025,181	4,957,922	6,218,041	1,885,487	353,747	256,412	285,670	419,573
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	70,439,360	83,395,257	61,457,054	46,048,245	41,685,078	26,845,869	37,910,627	22,526,224	17,260,699	8,341,366	4,219,130	4,614,215	1,860,360	882,907
total assets	72,214,821	86,103,983	62,719,826	47,584,255	43,071,514	27,932,863	38,722,846	23,099,144	17,365,822	8,863,516	4,673,830	5,042,905	2,297,566	1,328,847
Bank overdraft	0	0	0	0	0	0	0	0	0	11,200	11,000	0	0	2,208
Bank loan	0	0	0	0	0	0	0	0	0	0	0	10,909	0	0
Trade Creditors	38,509,997	38,249,788	21,797,855	19,212,454	14,195,773	14,455,616	17,998,780	9,582,018	6,635,761	3,771,853	1,921,697	2,425,946	1,831,280	237,422
Group/Directors Accounts	106,006	107,736	60,354	31,766	4,329,875	0	2,192,300	129,170	179,181	143,347	109,243	19,539	0	9,206
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	1,468	4,474	3,876	0	0	0
other current liabilities	28,174,492	43,603,053	37,368,279	24,071,995	18,785,027	11,879,697	14,956,797	9,594,974	9,479,067	3,757,886	1,678,436	2,009,891	0	623,994
total current liabilities	66,790,495	81,960,577	59,226,488	43,316,215	37,310,675	26,335,313	35,147,877	19,306,162	16,295,477	7,688,760	3,724,252	4,466,285	1,831,280	872,830
loans	0	0	0	0	0	0	0	0	0	221,892	234,831	244,041	0	275,168
hp & lease commitments	0	0	0	0	0	0	0	0	0	2,041	6,516	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	3,518,222	2,799,232	1,046,515	1,073,123	959,588	631,601	0	0	0	0	0	0	262,997	0
provisions	64,545	56,025	17,003	563,651	1,826,922	45,207	25,940	15,587	22,076	12,820	7,732	323	323	424
total long term liabilities	3,582,767	2,855,257	1,063,518	1,636,774	2,786,510	676,808	25,940	15,587	22,076	236,753	249,079	244,364	263,320	275,592
total liabilities	70,373,262	84,815,834	60,290,006	44,952,989	40,097,185	27,012,121	35,173,817	19,321,749	16,317,553	7,925,513	3,973,331	4,710,649	2,094,600	1,148,422
net assets	1,841,559	1,288,149	2,429,820	2,631,266	2,974,329	920,742	3,549,029	3,777,395	1,048,269	938,003	700,499	332,256	202,966	180,425
total shareholders funds	1,841,559	1,288,149	2,429,820	2,631,266	2,974,329	920,742	3,549,029	3,777,395	1,048,269	938,003	700,499	332,256	202,966	180,425

	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	1,764,616	5,514,413	2,776,321	7,272,142	7,271,471	6,741,505	6,003,687	3,534,900	771,946	711,714	588,589	486,391	38,559	175,021
Depreciation	77,556	120,911	139,079	126,129	82,951	74,232	34,324	35,520	27,368	19,440	12,895	8,516	8,734	6,990
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-444,569	-893,876	-110,019	-1,155,168	-1,196,705	-1,220,465	-1,149,269	-805,145	-179,053	-175,729	-138,570	-116,334	-8,766	-38,955
Stock	2,319,230	1,565,618	2,761,369	861,812	-325,246	489,008	-235,490	251,311	7,624	-6,354	-27,823	-48,864	-40,689	150,689
Debtors	-17,355,509	24,107,364	4,728,737	9,458,892	6,024,963	365,571	6,763,658	6,768,201	4,579,155	2,596,850	-464,597	2,831,977	1,152,045	312,645
Creditors	260,209	16,451,933	2,585,401	5,016,681	-259,843	-3,543,164	8,416,762	2,946,257	2,863,908	1,850,156	-504,249	594,666	1,593,858	237,422
Accruals and Deferred Income	-15,428,561	6,234,774	13,296,284	5,286,968	6,905,330	-3,077,100	5,361,823	115,907	5,721,181	2,079,450	-331,455	2,009,891	-623,994	623,994
Deferred Taxes & Provisions	8,520	39,022	-546,648	-1,263,271	1,781,715	19,267	10,353	-6,489	9,256	5,088	7,409	0	-101	424
Cash flow from operations	1,274,050	1,794,195	10,650,312	4,962,777	8,885,202	-1,860,304	12,149,512	-1,198,562	4,627,827	1,899,623	127,039	200,017	-103,066	541,562
Investing Activities
capital expenditure	-18,970	-221,931	-30,154	-170,293	-191,651	-237,524	-62,600	-9,449	138,130	-86,890	-26,528	0	0	-452,930
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-18,970	-221,931	-30,154	-170,293	-191,651	-237,524	-62,600	-9,449	138,130	-86,890	-26,528	0	0	-452,930
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	-10,909	10,909	0	0
Group/Directors Accounts	-1,730	47,382	28,588	-4,298,109	4,329,875	-2,192,300	2,063,130	-50,011	35,834	34,104	89,704	19,539	-9,206	9,206
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	0	0	0	0	0	0	0	0	-221,892	-12,939	-9,210	244,041	-275,168	275,168
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	-1,468	-5,047	-3,877	10,392	0	0	0
other long term liabilities	718,990	1,752,717	-26,608	113,535	327,987	631,601	0	0	0	0	0	-262,997	262,997	0
share issue	0	0	582,560	161,133	0	0	0	0	0	0	200,000	0	0	207,746
interest	-25,637	-9,208	-49,287	-170	-179	-5,158	1,460	-629	-12,501	-5,120	-9,620	-10,542	-7,252	-10,390
cash flow from financing	691,623	1,790,891	535,253	-4,023,611	4,657,683	-1,565,857	2,064,590	-52,108	-203,606	12,168	270,357	950	-28,629	481,730
cash and cash equivalents
cash	1,205,703	-2,389,845	7,754,390	-5,852,127	9,330,234	-11,807,854	9,067,259	-1,260,119	4,332,554	1,531,740	97,335	-29,258	-133,903	419,573
overdraft	0	0	0	0	0	0	0	0	-11,200	200	11,000	0	-2,208	2,208
change in cash	1,205,703	-2,389,845	7,754,390	-5,852,127	9,330,234	-11,807,854	9,067,259	-1,260,119	4,343,754	1,531,540	86,335	-29,258	-131,695	417,365

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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READIE CONSTRUCTION LIMITED group structure

Readie Construction Limited has no subsidiary companies.

Ultimate parent company

READIE MANAGEMENT LIMITED

11158920

1 parent

READIE CONSTRUCTION LIMITED

06069233

READIE CONSTRUCTION LIMITED Shareholders

readie management limited

100%

Readie Construction Limited currently has 4 directors. The longest serving directors include Mr Glenn Read (Feb 2008) and Mr Paul Stephens (Jan 2012).

officer	country	age	start	end	role
Mr Glenn Read		54 years	Feb 2008	-	Director
Mr Paul Stephens		45 years	Jan 2012	-	Director
Mr David Stephens		42 years	May 2017	-	Director
Mr Lee Ashdown	England	37 years	Apr 2022	-	Director

P&L

March 2023

turnover

421.1m

+22%

operating profit

1.8m

-68%

gross margin

2.2%

-46.87%

turnover

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

Balance Sheet

March 2023

net assets

1.8m

+0.43%

total assets

72.2m

-0.16%

cash

12.3m

+0.11%

net assets

Total assets minus all liabilities

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company number

06069233

Type

Private limited with Share Capital

industry

41201 - Construction of commercial buildings

incorporation date

January 2007

ultimate parent company

READIE MANAGEMENT LIMITED

previous names

N/A

address

suite 501, unit 2, 94a wycliffe road, northampton, NN1 5JF

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readie construction limited Company Information

readie construction limited Estimated Valuation

readie construction limited Estimated Valuation

readie construction limited Estimated Valuation

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READIE CONSTRUCTION LIMITED financials

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