Require I.t. Limited

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require i.t. limited Company Information

Live

EstablishedSmallDeclining

Company Number

06508245

Website

www.requireit.co.uk

Registered Address

12a sterling complex, farthing road, ipswich, suffolk, IP1 5AP

Industry

Manufacture of computers and peripheral equipment

Telephone

01473742656

Next Accounts Due

March 2025

Group Structure

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Directors

Gary Hamilton16 Years

Louise Hamilton16 Years

Shareholders

louise claire hamilton 50%

gary hamilton 50%

require i.t. limited Estimated Valuation

£1.3m

Pomanda estimates the enterprise value of REQUIRE I.T. LIMITED at £1.3m based on a Turnover of £1.6m and 0.79x industry multiple (adjusted for size and gross margin).

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Require I.t. Limited is a live company located in ipswich, IP1 5AP with a Companies House number of 06508245. It operates in the manufacture of computers and peripheral equipment sector, SIC Code 26200. Founded in February 2008, it's largest shareholder is louise claire hamilton with a 50% stake. Require I.t. Limited is a established, small sized company, Pomanda has estimated its turnover at £1.6m with declining growth in recent years.

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Pomanda's financial health check has awarded Require I.T. Limited a 1.5 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 7 areas for improvement. Company Health Check FAQs

Health Rating1.5out of 5

1 Strong

2 Regular

7 Weak

Size

annual sales of £1.6m, make it smaller than the average company (£16.5m)

Growth

3 year (CAGR) sales growth of -2%, show it is growing at a slower rate (3.7%)

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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REQUIRE I.T. LIMITED group structure

Require I.T. Limited has no subsidiary companies.

Ultimate parent company

REQUIRE I.T. LIMITED

06508245

REQUIRE I.T. LIMITED Shareholders

louise claire hamilton	50%
gary hamilton	50%

Require I.T. Limited currently has 2 directors. The longest serving directors include Mr Gary Hamilton (Feb 2008) and Ms Louise Hamilton (Feb 2008).

officer	country	age	start	end	role
Mr Gary Hamilton		54 years	Feb 2008	-	Director
Ms Louise Hamilton		42 years	Feb 2008	-	Director

EXPORT

Require I.T. Limited's latest turnover from June 2023 is estimated at £1.6 million and the company has net assets of £253.5 thousand. According to their latest financial statements, Require I.T. Limited has 9 employees and maintains cash reserves of 0 as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Jun 2013	Jun 2012	Jun 2011	Jun 2010
Turnover	1,636,319	1,505,856	1,713,307	1,729,869	1,009,212	712,511	689,327	889,373	720,638	940,825	1,106,555	1,021,131	962,846	714,225
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,368,672	1,224,867	1,421,395	1,417,326	840,615	599,090	568,905	707,304	573,428	737,296	861,678	780,623	726,286	539,197
Gross Profit	267,647	280,989	291,912	312,543	168,597	113,421	120,422	182,070	147,210	203,529	244,876	240,508	236,560	175,029
Admin Expenses	277,370	329,410	274,307	278,406	130,481	79,780	87,167	169,591	137,365	267,617	332,180	250,059	26,663	-62,968
Operating Profit	-9,723	-48,421	17,605	34,137	38,116	33,641	33,255	12,479	9,845	-64,088	-87,304	-9,551	209,897	237,997
Interest Payable	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	0	0	0	12	152	99	55	98	85	120	175	172	150	70
Pre-Tax Profit	-9,723	-48,421	17,605	34,149	38,268	33,741	33,310	12,578	9,930	-63,968	-87,129	-9,379	210,047	238,067
Tax	0	0	-3,345	-6,488	-7,271	-6,411	-6,329	-2,515	-1,986	0	0	0	-54,612	-66,659
Profit After Tax	-9,723	-48,421	14,260	27,661	30,997	27,330	26,981	10,062	7,944	-63,968	-87,129	-9,379	155,435	171,408
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-9,723	-48,421	14,260	27,661	30,997	27,330	26,981	10,062	7,944	-63,968	-87,129	-9,379	155,435	171,408
Employee Costs	483,431	478,287	449,890	460,029	612,277	144,920	141,578	136,783	132,646	176,717	173,382	176,028	167,214	117,961
Number Of Employees	9	9	9	9	12	3	3	3	3	4	4	4	4	3
EBITDA*	-9,723	-48,421	17,605	37,134	38,116	36,276	33,255	16,033	14,056	-59,099	-81,389	-2,057	215,029	253,797

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Jun 2013	Jun 2012	Jun 2011	Jun 2010
Tangible Assets	6,097	13,196	15,832	14,862	17,859	14,518	16,486	19,488	23,042	27,253	32,242	38,157	43,091	16,222
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	6,097	13,196	15,832	14,862	17,859	14,518	16,486	19,488	23,042	27,253	32,242	38,157	43,091	16,222
Stock & work in progress	0	0	0	0	361,925	360,110	359,725	350,110	348,206	423,216	284,725	298,115	295,100	197,010
Trade Debtors	457,246	437,886	498,154	515,605	127,836	96,297	105,465	139,843	101,600	122,468	243,294	282,424	252,263	208,193
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	0	0	0	0	24,736	15,893	23,883	19,942	19,268	14,781	33,385	36,663	32,031	28,001
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	457,246	437,886	498,154	515,605	514,497	472,300	489,073	509,895	469,074	560,465	561,404	617,202	579,394	433,204
total assets	463,343	451,082	513,986	530,467	532,356	486,818	505,559	529,383	492,116	587,718	593,646	655,359	622,485	449,426
Bank overdraft	0	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
Trade Creditors	188,827	159,437	163,271	183,125	262,673	248,132	294,203	345,008	317,803	421,349	363,309	337,893	295,153	271,455
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	0	0	0	0	0	0	0
other current liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current liabilities	188,827	159,437	163,271	183,125	262,673	248,132	294,203	345,008	317,803	421,349	363,309	337,893	295,153	271,455
loans	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
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	21,058	28,464	39,113	50,000	0	0	0	0	0	0	0	0	487	6,561
provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	21,058	28,464	39,113	50,000	0	0	0	0	0	0	0	0	487	6,561
total liabilities	209,885	187,901	202,384	233,125	262,673	248,132	294,203	345,008	317,803	421,349	363,309	337,893	295,640	278,016
net assets	253,458	263,181	311,602	297,342	269,683	238,686	211,356	184,375	174,313	166,369	230,337	317,466	326,845	171,410
total shareholders funds	253,458	263,181	311,602	297,342	269,683	238,686	211,356	184,375	174,313	166,369	230,337	317,466	326,845	171,410

	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Jun 2013	Jun 2012	Jun 2011	Jun 2010
Operating Activities
Operating Profit	-9,723	-48,421	17,605	34,137	38,116	33,641	33,255	12,479	9,845	-64,088	-87,304	-9,551	209,897	237,997
Depreciation	0	0	0	2,997	0	2,635	0	3,554	4,211	4,989	5,915	7,494	5,132	15,800
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	0	0	-3,345	-6,488	-7,271	-6,411	-6,329	-2,515	-1,986	0	0	0	-54,612	-66,659
Stock	0	0	0	-361,925	1,815	385	9,615	1,904	-75,010	138,491	-13,390	3,015	98,090	197,010
Debtors	19,360	-60,268	-17,451	387,769	31,539	-9,168	-34,378	38,243	-20,868	-120,826	-39,130	30,161	44,070	208,193
Creditors	29,390	-3,834	-19,854	-79,548	14,541	-46,071	-50,805	27,205	-103,546	58,040	25,416	42,740	23,698	271,455
Accruals and Deferred Income	0	0	0	0	0	0	0	0	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	307	8,013	11,857	-74,746	12,032	-7,423	884	576	4,402	-18,724	-3,453	7,507	41,955	53,390
Investing Activities
capital expenditure	7,099	2,636	-970	0	-3,341	-667	3,002	0	0	0	0	-2,560	-32,001	-32,022
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	7,099	2,636	-970	0	-3,341	-667	3,002	0	0	0	0	-2,560	-32,001	-32,022
Financing Activities
Bank loans	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
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	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
other long term liabilities	-7,406	-10,649	-10,887	50,000	0	0	0	0	0	0	0	-487	-6,074	6,561
share issue	0	0	0	-2	0	0	0	0	0	0	0	0	0	2
interest	0	0	0	12	152	99	55	98	85	120	175	172	150	70
cash flow from financing	-7,406	-10,649	-10,887	50,010	152	99	55	98	85	120	175	-315	-5,924	6,633
cash and cash equivalents
cash	0	0	0	-24,736	8,843	-7,990	3,941	674	4,487	-18,604	-3,278	4,632	4,030	28,001
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	0	0	0	-24,736	8,843	-7,990	3,941	674	4,487	-18,604	-3,278	4,632	4,030	28,001

P&L

June 2023

turnover

1.6m

+9%

operating profit

-9.7k

gross margin

16.4%

-12.34%

turnover

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

Balance Sheet

June 2023

net assets

253.5k

-0.04%

total assets

463.3k

+0.03%

cash

net assets

Total assets minus all liabilities

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company number

06508245

Type

Private limited with Share Capital

industry

26200 - Manufacture of computers and peripheral equipment

incorporation date

February 2008

age

accounts

Micro-Entity Accounts

ultimate parent company

None

previous names

N/A

incorporated

address

12a sterling complex, farthing road, ipswich, suffolk, IP1 5AP

last accounts submitted

June 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 1 charges/mortgages relating to require i.t. limited. Currently there are 1 open charges and 0 have been satisfied in the past.

require i.t. limited Company Information

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require i.t. limited Estimated Valuation

require i.t. limited Estimated Valuation

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REQUIRE I.T. LIMITED financials

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