Glass Express Midlands Ltd

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glass express midlands ltd Company Information

Live

EstablishedSmallHealthy

Company Number

06465299

Website

www.glassexpressmidlands.co.uk

Registered Address

unit9/anglo, african industrial estate, union road, oldbury, B69 3EX

Industry

Shaping and processing of flat glass

Telephone

01215527616

Next Accounts Due

December 2024

Group Structure

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Directors

Arun Photay1 Years

Shareholders

gx gem group limited 100%

glass express midlands ltd Estimated Valuation

£3.5m

Pomanda estimates the enterprise value of GLASS EXPRESS MIDLANDS LTD at £3.5m based on Net Assets of £1.4m and 2.44x industry multiple (adjusted for liquidity).

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Glass Express Midlands Ltd is a live company located in union road, B69 3EX with a Companies House number of 06465299. It operates in the shaping and processing of flat glass sector, SIC Code 23120. Founded in January 2008, it's largest shareholder is gx gem group limited with a 100% stake. Glass Express Midlands Ltd is a established, small sized company, Pomanda has estimated its turnover at £3.7m with healthy growth in recent years.

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Pomanda's financial health check has awarded Glass Express Midlands Ltd a 5 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 3 areas for improvement. Company Health Check FAQs

Health Rating5out of 5

4 Strong

5 Regular

3 Weak

Size

annual sales of £3.7m, make it smaller than the average company (£16.9m)

Growth

3 year (CAGR) sales growth of 10%, show it is growing at a faster rate (8.3%)

EXPORT

Glass Express Midlands Ltd's latest turnover from March 2023 is estimated at £3.7 million and the company has net assets of £1.4 million. According to their latest financial statements, Glass Express Midlands Ltd has 30 employees and maintains cash reserves of £455.7 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	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Turnover	3,672,708	3,366,928	2,744,912	2,756,212	3,247,319	2,755,625	3,144,745	3,000,900	2,874,542	2,364,718	2,994,117	2,114,433	1,737,282	1,419,815
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	2,405,262	2,209,512	1,881,471	1,879,247	2,239,449	1,866,956	2,106,547	2,041,815	1,966,129	1,609,752	2,047,808	1,449,894	1,176,526	998,291
Gross Profit	1,267,446	1,157,416	863,441	876,965	1,007,869	888,670	1,038,198	959,085	908,412	754,966	946,309	664,538	560,757	421,523
Admin Expenses	1,049,911	344,041	519,110	849,395	1,223,598	1,027,668	1,096,613	1,075,650	862,712	421,196	732,931	433,078	350,498	319,884
Operating Profit	217,535	813,375	344,331	27,570	-215,729	-138,998	-58,415	-116,565	45,700	333,770	213,378	231,460	210,259	101,639
Interest Payable	2,990	3,532	7,865	10,746	9,270	6,226	10,226	8,490	0	0	0	0	0	0
Interest Receivable	16,221	1,609	61	2	17	4	7	14	1	5	5	2	29	28
Pre-Tax Profit	230,767	811,452	336,527	16,826	-224,982	-145,220	-68,634	-125,041	45,701	333,775	213,383	231,462	210,288	101,667
Tax	-43,846	-154,176	-63,940	-3,197	0	0	0	0	-9,597	-76,768	-51,212	-60,180	-58,880	-28,467
Profit After Tax	186,921	657,276	272,587	13,629	-224,982	-145,220	-68,634	-125,041	36,104	257,007	162,171	171,282	151,407	73,200
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	186,921	657,276	272,587	13,629	-224,982	-145,220	-68,634	-125,041	36,104	257,007	162,171	171,282	151,407	73,200
Employee Costs	982,053	970,347	1,078,185	826,896	838,571	867,661	1,189,189	850,210	857,589	692,147	929,905	619,745	543,031	449,053
Number Of Employees	30	30	35	27	27	32	47	32	33	26	35	24	22	19
EBITDA*	293,641	888,995	425,469	118,528	-108,974	-27,166	67,400	24,716	181,927	458,588	289,876	299,252	267,934	139,377

* 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	679,669	657,174	701,294	782,432	888,994	949,821	1,061,653	1,185,141	1,149,819	1,032,286	599,596	573,275	481,420	315,667
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)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	679,669	657,174	701,294	782,432	888,994	949,821	1,061,653	1,185,141	1,149,819	1,032,286	599,596	573,275	481,420	315,667
Stock & work in progress	260,000	236,500	358,463	470,205	400,777	107,862	99,895	37,455	92,130	76,880	70,020	78,465	76,575	70,105
Trade Debtors	713,085	646,577	468,900	322,595	419,697	457,105	463,396	565,363	525,004	501,669	636,304	390,601	325,561	242,284
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	29,532	28,108	12,429	5,715	23,507	26,427	13,317	0	0	0	0	0	0	0
Cash	455,703	307,629	121,534	3	3,074	1,496	72	5,344	142	357	1,641	388	460	11,011
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	1,458,320	1,218,814	961,326	798,518	847,055	592,890	576,680	608,162	617,276	578,906	707,965	469,454	402,596	323,400
total assets	2,137,989	1,875,988	1,662,620	1,580,950	1,736,049	1,542,711	1,638,333	1,793,303	1,767,095	1,611,192	1,307,561	1,042,729	884,016	639,067
Bank overdraft	0	0	54,656	203,200	149,116	125,563	66,015	65,541	0	0	0	0	0	0
Bank loan	8,333	50,000	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	297,964	330,489	244,112	270,289	550,329	482,838	591,934	495,972	398,834	283,809	486,296	373,210	321,089	217,458
Group/Directors Accounts	0	0	0	0	0	0	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
hp & lease commitments	0	0	0	0	0	0	0	20,821	0	0	0	0	0	0
other current liabilities	343,643	239,958	462,499	447,798	367,411	220,794	34,557	50,369	0	0	0	0	0	0
total current liabilities	649,940	620,447	761,267	921,287	1,066,856	829,195	692,506	632,703	398,834	283,809	486,296	373,210	321,089	217,458
loans	0	0	0	0	0	0	0	195,678	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	238,790	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	70,340	24,753	327,841	358,738	381,897	201,238	288,329	0	517,088	512,314	263,203	273,628	338,318	348,407
provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	70,340	24,753	327,841	358,738	381,897	201,238	288,329	434,468	517,088	512,314	263,203	273,628	338,318	348,407
total liabilities	720,280	645,200	1,089,108	1,280,025	1,448,753	1,030,433	980,835	1,067,171	915,922	796,123	749,499	646,838	659,407	565,865
net assets	1,417,709	1,230,788	573,512	300,925	287,296	512,278	657,498	726,132	851,173	815,069	558,062	395,891	224,609	73,202
total shareholders funds	1,417,709	1,230,788	573,512	300,925	287,296	512,278	657,498	726,132	851,173	815,069	558,062	395,891	224,609	73,202

	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	217,535	813,375	344,331	27,570	-215,729	-138,998	-58,415	-116,565	45,700	333,770	213,378	231,460	210,259	101,639
Depreciation	76,106	75,620	81,138	90,958	106,755	111,832	125,815	141,281	136,227	124,818	76,498	67,792	57,675	37,738
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-43,846	-154,176	-63,940	-3,197	0	0	0	0	-9,597	-76,768	-51,212	-60,180	-58,880	-28,467
Stock	23,500	-121,963	-111,742	69,428	292,915	7,967	62,440	-54,675	15,250	6,860	-8,445	1,890	6,470	70,105
Debtors	67,932	193,356	153,019	-114,894	-40,328	6,819	-88,650	40,359	23,335	-134,635	245,703	65,040	83,277	242,284
Creditors	-32,525	86,377	-26,177	-280,040	67,491	-109,096	95,962	97,138	115,025	-202,487	113,086	52,121	103,631	217,458
Accruals and Deferred Income	103,685	-222,541	14,701	80,387	146,617	186,237	-15,812	50,369	0	0	0	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	229,523	527,262	308,776	-38,856	-147,453	35,189	173,760	186,539	248,770	307,108	114,492	224,263	222,938	15,979
Investing Activities
capital expenditure	-98,601	-31,500	0	15,604	-45,928	0	-2,327	-176,603	-253,760	-557,508	-102,819	-159,647	-223,428	-353,405
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-98,601	-31,500	0	15,604	-45,928	0	-2,327	-176,603	-253,760	-557,508	-102,819	-159,647	-223,428	-353,405
Financing Activities
Bank loans	-41,667	50,000	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
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	-195,678	195,678	0	0	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	-259,611	259,611	0	0	0	0	0	0
other long term liabilities	45,587	-303,088	-30,897	-23,159	180,659	-87,091	288,329	-517,088	4,774	249,111	-10,425	-64,690	-10,089	348,407
share issue	0	0	0	0	0	0	0	0	0	0	0	0	0	2
interest	13,231	-1,923	-7,804	-10,744	-9,253	-6,222	-10,219	-8,476	1	5	5	2	29	28
cash flow from financing	17,151	-255,011	-38,701	-33,903	171,406	-93,313	-177,179	-70,275	4,775	249,116	-10,420	-64,688	-10,060	348,437
cash and cash equivalents
cash	148,074	186,095	121,531	-3,071	1,578	1,424	-5,272	5,202	-215	-1,284	1,253	-72	-10,551	11,011
overdraft	0	-54,656	-148,544	54,084	23,553	59,548	474	65,541	0	0	0	0	0	0
change in cash	148,074	240,751	270,075	-57,155	-21,975	-58,124	-5,746	-60,339	-215	-1,284	1,253	-72	-10,551	11,011

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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GLASS EXPRESS MIDLANDS LTD group structure

Glass Express Midlands Ltd has no subsidiary companies.

Ultimate parent company

WIGHTWICK ADVISORY LIMITED

13949870

GX GEM GROUP LIMITED

14246566

2 parents

GLASS EXPRESS MIDLANDS LTD

06465299

GLASS EXPRESS MIDLANDS LTD Shareholders

gx gem group limited

100%

Glass Express Midlands Ltd currently has 1 director, Mr Arun Photay serving since Sep 2022.

officer	country	age	start	end	role
Mr Arun Photay	England	40 years	Sep 2022	-	Director

P&L

March 2023

turnover

3.7m

+9%

operating profit

217.5k

gross margin

34.6%

+0.39%

turnover

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

Balance Sheet

March 2023

net assets

1.4m

+0.15%

total assets

2.1m

+0.14%

cash

455.7k

+0.48%

net assets

Total assets minus all liabilities

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4.5

company number

06465299

Type

Private limited with Share Capital

industry

23120 - Shaping and processing of flat glass

incorporation date

January 2008

age

accounts

Total Exemption Full

ultimate parent company

WIGHTWICK ADVISORY LIMITED

previous names

N/A

incorporated

address

unit9/anglo, african industrial estate, union road, oldbury, B69 3EX

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 4 charges/mortgages relating to glass express midlands ltd. Currently there are 1 open charges and 3 have been satisfied in the past.

glass express midlands ltd Company Information

glass express midlands ltd Estimated Valuation

glass express midlands ltd Estimated Valuation

glass express midlands ltd Estimated Valuation

Glass Express Midlands Ltd Overview

Glass Express Midlands Ltd Health Check

GLASS EXPRESS MIDLANDS LTD financials

glass express midlands ltd Credit Report and Business Information

Glass Express Midlands Ltd Competitor Analysis

glass express midlands ltd Ownership

glass express midlands ltd directors

glass express midlands ltd company details

glass express midlands ltd Charges & Mortgages

glass express midlands ltd Companies House Filings - See Documents