velocity composites plc
velocity composites plc Company Information
Company Number
06389233
Website
www.velocity-composites.comRegistered Address
ams technology park, billington road, burnley, lancashire, BB11 5UB
Industry
Other manufacturing n.e.c.
Telephone
01282577577
Next Accounts Due
April 2025
Group Structure
View All
Shareholders
undisclosed 100%
velocity composites plc Estimated Valuation
Pomanda estimates the enterprise value of VELOCITY COMPOSITES PLC at £10.3m based on a Turnover of £16.4m and 0.63x industry multiple (adjusted for size and gross margin).
velocity composites plc Estimated Valuation
Pomanda estimates the enterprise value of VELOCITY COMPOSITES PLC at £0 based on an EBITDA of £-2.4m and a 4.85x industry multiple (adjusted for size and gross margin).
velocity composites plc Estimated Valuation
Pomanda estimates the enterprise value of VELOCITY COMPOSITES PLC at £11.8m based on Net Assets of £6.6m and 1.79x industry multiple (adjusted for liquidity).
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Velocity Composites Plc Overview
Velocity Composites Plc is a live company located in burnley, BB11 5UB with a Companies House number of 06389233. It operates in the other manufacturing n.e.c. sector, SIC Code 32990. Founded in October 2007, it's largest shareholder is undisclosed with a 100% stake. Velocity Composites Plc is a established, mid sized company, Pomanda has estimated its turnover at £16.4m with healthy growth in recent years.
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Velocity Composites Plc Health Check
Pomanda's financial health check has awarded Velocity Composites Plc a 4 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 4 areas for improvement. Company Health Check FAQs
5 Strong
3 Regular
4 Weak
Size
annual sales of £16.4m, make it larger than the average company (£13.6m)
£16.4m - Velocity Composites Plc
£13.6m - Industry AVG
Growth
3 year (CAGR) sales growth of 7%, show it is growing at a faster rate (4.9%)
7% - Velocity Composites Plc
4.9% - Industry AVG
Production
with a gross margin of 18.8%, this company has a higher cost of product (29.4%)
18.8% - Velocity Composites Plc
29.4% - Industry AVG
Profitability
an operating margin of -17.2% make it less profitable than the average company (6.1%)
-17.2% - Velocity Composites Plc
6.1% - Industry AVG
Employees
with 102 employees, this is above the industry average (72)
102 - Velocity Composites Plc
72 - Industry AVG
Pay Structure
on an average salary of £36.3k, the company has an equivalent pay structure (£41.1k)
£36.3k - Velocity Composites Plc
£41.1k - Industry AVG
Efficiency
resulting in sales per employee of £160.9k, this is equally as efficient (£175.4k)
£160.9k - Velocity Composites Plc
£175.4k - Industry AVG
Debtor Days
it gets paid by customers after 70 days, this is later than average (56 days)
70 days - Velocity Composites Plc
56 days - Industry AVG
Creditor Days
its suppliers are paid after 103 days, this is slower than average (43 days)
103 days - Velocity Composites Plc
43 days - Industry AVG
Stock Days
it holds stock equivalent to 75 days, this is in line with average (70 days)
75 days - Velocity Composites Plc
70 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 29 weeks, this is more cash available to meet short term requirements (12 weeks)
29 weeks - Velocity Composites Plc
12 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 55.3%, this is a higher level of debt than the average (49.3%)
55.3% - Velocity Composites Plc
49.3% - Industry AVG
VELOCITY COMPOSITES PLC financials
Velocity Composites Plc's latest turnover from October 2023 is £16.4 million and the company has net assets of £6.6 million. According to their latest financial statements, Velocity Composites Plc has 102 employees and maintains cash reserves of £3.2 million 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 | 16,411,000 | 11,959,000 | 9,767,000 | 13,561,000 | 24,316,000 | 24,478,000 | 21,369,000 | 14,614,000 | 14,528,000 | 15,273,622 | |||||
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
| Cost Of Sales | 13,325,000 | 9,213,000 | 7,228,000 | 11,237,000 | 19,047,000 | 19,991,000 | 17,438,000 | 11,135,000 | 11,045,000 | 12,141,522 | |||||
| Gross Profit | 3,086,000 | 2,746,000 | 2,539,000 | 2,324,000 | 5,269,000 | 4,487,000 | 3,931,000 | 3,479,000 | 3,483,000 | 3,132,100 | |||||
| Admin Expenses | 5,903,000 | 4,063,000 | 3,903,000 | 5,473,000 | 5,863,000 | 5,559,000 | 4,391,000 | 3,748,000 | 2,191,000 | 2,133,243 | |||||
| Operating Profit | -2,817,000 | -1,317,000 | -1,364,000 | -3,149,000 | -594,000 | -1,072,000 | -460,000 | -269,000 | 1,292,000 | 998,857 | |||||
| Interest Payable | 326,000 | 187,000 | 182,000 | 105,000 | 81,000 | 167,000 | 86,000 | 0 | 66,979 | ||||||
| Interest Receivable | 0 | 0 | 0 | 7,000 | 23,000 | 135,000 | 21,000 | 0 | 0 | 114 | |||||
| Pre-Tax Profit | -3,143,000 | -1,504,000 | -1,546,000 | -3,247,000 | -652,000 | -1,207,000 | -627,000 | -355,000 | 1,254,000 | 931,992 | |||||
| Tax | 0 | 167,000 | 340,000 | 117,000 | 16,000 | 213,000 | -73,000 | 81,000 | -238,000 | -217,098 | |||||
| Profit After Tax | -3,143,000 | -1,337,000 | -1,206,000 | -3,130,000 | -636,000 | -994,000 | -700,000 | -274,000 | 1,016,000 | 714,894 | |||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 330,000 | 549,600 | |||||
| Retained Profit | -3,143,000 | -1,337,000 | -1,206,000 | -3,130,000 | -636,000 | -994,000 | -700,000 | -313,000 | 686,000 | 165,294 | |||||
| Employee Costs | 3,700,000 | 3,090,000 | 2,854,000 | 4,336,000 | 4,431,000 | 4,475,000 | 3,634,000 | 2,512,000 | 2,014,000 | 2,402,659 | |||||
| Number Of Employees | 102 | 79 | 75 | 122 | 132 | 132 | 106 | 90 | 71 | 75 | |||||
| EBITDA* | -2,404,000 | -1,054,000 | -638,000 | -2,459,000 | -145,000 | -670,000 | -117,000 | 12,000 | 1,369,000 | 1,129,173 |
* 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 | 4,224,000 | 3,368,000 | 2,739,000 | 2,850,000 | 1,061,000 | 1,080,000 | 1,083,000 | 773,000 | 935,000 | 892,177 | 480,137 | 313,511 | 213,070 | 82,352 | 45,979 |
| Intangible Assets | 890,000 | 173,000 | 91,000 | 167,000 | 318,000 | 362,000 | 317,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments & Other | 0 | 0 | 0 | 0 | 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 | 5,114,000 | 3,541,000 | 2,830,000 | 3,017,000 | 1,379,000 | 1,442,000 | 1,400,000 | 773,000 | 935,000 | 892,177 | 480,137 | 313,511 | 213,070 | 82,352 | 45,979 |
| Stock & work in progress | 2,743,000 | 1,407,000 | 877,000 | 1,908,000 | 3,177,000 | 2,744,000 | 3,266,000 | 2,345,000 | 1,405,000 | 1,120,023 | 298,897 | 27,330 | 25,780 | 7,597 | 3,184 |
| Trade Debtors | 3,187,000 | 2,227,000 | 2,162,000 | 2,464,000 | 3,607,000 | 5,727,000 | 4,647,000 | 2,606,000 | 1,706,000 | 941,824 | 802,183 | 222,609 | 113,623 | 125,790 | 91,799 |
| Group Debtors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7,487 | 0 | 0 | 0 | 0 | 0 |
| Misc Debtors | 480,000 | 294,000 | 0 | 0 | 542,000 | 0 | 1,501,000 | 336,000 | 328,000 | 1,327,543 | 0 | 0 | 0 | 0 | 11,695 |
| Cash | 3,178,000 | 2,344,000 | 3,476,000 | 3,268,000 | 3,424,000 | 4,726,000 | 5,414,000 | 39,000 | 161,000 | 271,851 | 194,109 | 28,765 | 28,015 | 43,169 | 4,333 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 113,000 | 0 | 29,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 9,588,000 | 6,272,000 | 6,856,000 | 7,640,000 | 10,825,000 | 13,310,000 | 14,828,000 | 5,355,000 | 3,600,000 | 3,668,728 | 1,295,189 | 278,704 | 167,418 | 176,556 | 111,011 |
| total assets | 14,702,000 | 9,813,000 | 9,686,000 | 10,657,000 | 12,204,000 | 14,752,000 | 16,228,000 | 6,128,000 | 4,535,000 | 4,560,905 | 1,775,326 | 592,215 | 380,488 | 258,908 | 156,990 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 503,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 3,786,000 | 1,134,000 | 1,058,000 | 1,504,000 | 2,242,000 | 3,251,000 | 3,421,000 | 2,327,000 | 1,851,000 | 2,694,386 | 1,443,836 | 365,550 | 215,845 | 178,178 | 117,466 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other short term finances | 0 | 678,000 | 514,000 | 500,000 | 4,000 | 616,000 | 1,144,000 | 2,169,000 | 129,000 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 487,000 | 405,000 | 309,000 | 411,000 | 121,000 | 116,000 | 145,000 | 92,000 | 114,000 | 92,198 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 801,000 | 898,000 | 0 | 0 | 977,000 | 1,337,000 | 1,115,000 | 734,000 | 1,178,000 | 1,164,989 | 0 | 0 | 0 | 0 | 0 |
| total current liabilities | 5,577,000 | 3,115,000 | 1,881,000 | 2,415,000 | 3,344,000 | 5,320,000 | 5,825,000 | 5,322,000 | 3,272,000 | 3,951,573 | 1,443,836 | 365,550 | 215,845 | 178,178 | 117,466 |
| loans | 5,114,000 | 6,596,000 | 4,478,000 | 3,620,000 | 338,000 | 342,000 | 422,000 | 212,000 | 396,000 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 1,587,000 | 1,792,000 | 1,240,000 | 1,060,000 | 169,000 | 171,000 | 211,000 | 106,000 | 198,000 | 227,644 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 34,400 | 0 | 0 | 0 | 0 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 163,871 | 141,665 | 76,059 | 0 | 0 |
| provisions | 0 | 0 | 0 | 0 | 0 | 0 | 212,000 | 194,000 | 298,000 | 151,168 | 67,993 | 34,141 | 31,237 | 17,293 | 810 |
| total long term liabilities | 2,557,000 | 3,298,000 | 3,238,000 | 2,560,000 | 169,000 | 171,000 | 317,000 | 203,000 | 347,000 | 378,812 | 266,264 | 175,806 | 107,296 | 17,293 | 810 |
| total liabilities | 8,134,000 | 6,413,000 | 5,119,000 | 4,975,000 | 3,513,000 | 5,491,000 | 6,142,000 | 5,525,000 | 3,619,000 | 4,330,385 | 1,710,100 | 541,356 | 323,141 | 195,471 | 118,276 |
| net assets | 6,568,000 | 3,400,000 | 4,567,000 | 5,682,000 | 8,691,000 | 9,261,000 | 10,086,000 | 603,000 | 916,000 | 230,520 | 65,226 | 50,859 | 57,347 | 63,437 | 38,714 |
| total shareholders funds | 6,568,000 | 3,400,000 | 4,567,000 | 5,682,000 | 8,691,000 | 9,261,000 | 10,086,000 | 603,000 | 916,000 | 230,520 | 65,226 | 50,859 | 57,347 | 63,437 | 38,714 |
| 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 | -2,817,000 | -1,317,000 | -1,364,000 | -3,149,000 | -594,000 | -1,072,000 | -460,000 | -269,000 | 1,292,000 | 998,857 | |||||
| Depreciation | 297,000 | 210,000 | 650,000 | 572,000 | 315,000 | 306,000 | 263,000 | 281,000 | 77,000 | 130,316 | 69,843 | 39,423 | 39,188 | 15,634 | 8,704 |
| Amortisation | 116,000 | 53,000 | 76,000 | 118,000 | 134,000 | 96,000 | 80,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tax | 0 | 167,000 | 340,000 | 117,000 | 16,000 | 213,000 | -73,000 | 81,000 | -238,000 | -217,098 | |||||
| Stock | 1,336,000 | 530,000 | -1,031,000 | -1,269,000 | 433,000 | -522,000 | 921,000 | 940,000 | 284,977 | 821,126 | 271,567 | 1,550 | 18,183 | 4,413 | 3,184 |
| Debtors | 1,146,000 | 359,000 | -302,000 | -1,685,000 | -1,578,000 | -421,000 | 3,206,000 | 908,000 | -242,854 | 1,474,671 | 579,574 | 108,986 | -12,167 | 22,296 | 103,494 |
| Creditors | 2,652,000 | 76,000 | -446,000 | -738,000 | -1,009,000 | -170,000 | 1,094,000 | 476,000 | -843,386 | 1,250,550 | 1,078,286 | 149,705 | 37,667 | 60,712 | 117,466 |
| Accruals and Deferred Income | -97,000 | 898,000 | 0 | -977,000 | -360,000 | 222,000 | 381,000 | -444,000 | 13,011 | 1,130,589 | 34,400 | 0 | 0 | 0 | 0 |
| Deferred Taxes & Provisions | 0 | 0 | 0 | 0 | 0 | -212,000 | 18,000 | -104,000 | 146,832 | 83,175 | 33,852 | 2,904 | 13,944 | 16,483 | 810 |
| Cash flow from operations | -2,331,000 | -802,000 | 589,000 | -1,103,000 | -353,000 | 326,000 | -2,824,000 | -1,827,000 | 405,334 | 1,080,592 | |||||
| Investing Activities | |||||||||||||||
| capital expenditure | -516,878 | ||||||||||||||
| Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | -516,878 | ||||||||||||||
| Financing Activities | |||||||||||||||
| Bank loans | 503,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Short Term Loans | -678,000 | 164,000 | 14,000 | 496,000 | -612,000 | -528,000 | -1,025,000 | 2,040,000 | 129,000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | -1,482,000 | 2,118,000 | 858,000 | 3,282,000 | -4,000 | -80,000 | 210,000 | -184,000 | 396,000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Hire Purchase and Lease Commitments | -123,000 | 648,000 | 78,000 | 1,181,000 | 3,000 | -69,000 | 158,000 | -114,000 | -7,842 | 319,842 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -163,871 | 22,206 | 65,606 | 76,059 | 0 | 0 |
| share issue | |||||||||||||||
| interest | -326,000 | -187,000 | -182,000 | -98,000 | -58,000 | -146,000 | -86,000 | 0 | -66,865 | ||||||
| cash flow from financing | 4,205,000 | 2,913,000 | 859,000 | 4,982,000 | -605,000 | 9,380,000 | 1,656,000 | 516,638 | 89,106 | ||||||
| cash and cash equivalents | |||||||||||||||
| cash | 834,000 | -1,132,000 | 208,000 | -156,000 | -1,302,000 | -688,000 | 5,375,000 | -122,000 | -110,851 | 77,742 | 165,344 | 750 | -15,154 | 38,836 | 4,333 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | 834,000 | -1,132,000 | 208,000 | -156,000 | -1,302,000 | -688,000 | 5,375,000 | -122,000 | -110,851 | 77,742 | 165,344 | 750 | -15,154 | 38,836 | 4,333 |
velocity composites plc Credit Report and Business Information
Velocity Composites Plc Competitor Analysis
Perform a competitor analysis for velocity composites plc by selecting its closest rivals, whether from the MANUFACTURING sector, other mid companies, companies in BB11 area or any other competitors across 12 key performance metrics.
velocity composites plc Ownership
VELOCITY COMPOSITES PLC group structure
Velocity Composites Plc has no subsidiary companies.
Ultimate parent company
VELOCITY COMPOSITES PLC
06389233
velocity composites plc directors
Velocity Composites Plc currently has 6 directors. The longest serving directors include Mr Andrew Beaden (Jul 2019) and Mr Jonathan Bridges (Jul 2019).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Andrew Beaden | England | 57 years | Jul 2019 | - | Director |
| Mr Jonathan Bridges | England | 50 years | Jul 2019 | - | Director |
| Mrs Annette Rothwell | 57 years | Mar 2022 | - | Director | |
| Mrs Annette Rothwell | United Kingdom | 57 years | Mar 2022 | - | Director |
| Mr David Bailey | England | 56 years | Jun 2022 | - | Director |
| Mr Robert Smith | England | 60 years | Jun 2024 | - | Director |
P&L
October 2023turnover
16.4m
+37%
operating profit
-2.8m
+114%
gross margin
18.9%
-18.11%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
October 2023net assets
6.6m
+0.93%
total assets
14.7m
+0.5%
cash
3.2m
+0.36%
net assets
Total assets minus all liabilities
velocity composites plc company details
company number
06389233
Type
Public limited with Share Capital
industry
32990 - Other manufacturing n.e.c.
incorporation date
October 2007
age
17
incorporated
UK
ultimate parent company
accounts
Group
last accounts submitted
October 2023
previous names
velocity composites limited (April 2017)
accountant
-
auditor
COOPER PARRY GROUP LIMITED
address
ams technology park, billington road, burnley, lancashire, BB11 5UB
Bank
NATIONAL WESTMINSTER BANK PLC
Legal Advisor
-
velocity composites plc 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 found 3 charges/mortgages relating to velocity composites plc. Currently there are 2 open charges and 1 have been satisfied in the past.
velocity composites plc Companies House Filings - See Documents
| date | description | view/download |
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