Carrs Coatings Limited

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carrs coatings limited Company Information

Live

EstablishedMidDeclining

Company Number

06628569

Website

www.carrscoatings.com

Registered Address

2e eagle road, north moons moat, redditch, west midlands, B98 9HF

Industry

Manufacture of paints, varnishes and similar coatings, mastics and sealants

Telephone

01527599460

Next Accounts Due

December 2024

Group Structure

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Directors

Nigel Smith0 Years

Thomas Westwood0 Years

Shareholders

trimite bid co limited 100%

carrs coatings limited Estimated Valuation

£6.1m

Pomanda estimates the enterprise value of CARRS COATINGS LIMITED at £6.1m based on a Turnover of £9.3m and 0.65x industry multiple (adjusted for size and gross margin).

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Carrs Coatings Limited is a live company located in redditch, B98 9HF with a Companies House number of 06628569. It operates in the manufacture of paints, varnishes and similar coatings, mastics and sealants sector, SIC Code 20301. Founded in June 2008, it's largest shareholder is trimite bid co limited with a 100% stake. Carrs Coatings Limited is a established, mid sized company, Pomanda has estimated its turnover at £9.3m with declining growth in recent years.

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Pomanda's financial health check has awarded Carrs Coatings Limited a 1.5 rating. We use a traffic light system to show it exceeds the industry average on 0 measures and has 7 areas for improvement. Company Health Check FAQs

Health Rating1.5out of 5

0 Strong

5 Regular

7 Weak

Size

annual sales of £9.3m, make it smaller than the average company (£24.2m)

Growth

3 year (CAGR) sales growth of -10%, show it is growing at a slower rate (3.3%)

EXPORT

Carrs Coatings Limited's latest turnover from March 2023 is estimated at £9.3 million and the company has net assets of -£574.9 thousand. According to their latest financial statements, Carrs Coatings Limited has 36 employees and maintains cash reserves of £1.3 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	9,324,941	8,458,128	7,372,357	12,778,068	6,545,648	6,345,506	6,444,877	6,986,324	7,481,825	6,169,316	6,044,039	6,475,620	6,157,992	5,423,418
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	6,705,000	5,820,540	4,896,127	8,608,350	5,234,117	5,018,276	4,604,758	4,925,646	5,388,978	4,804,029	4,542,874	4,905,700	4,590,499	4,155,365
Gross Profit	2,619,941	2,637,588	2,476,230	4,169,718	1,311,531	1,327,230	1,840,119	2,060,678	2,092,847	1,365,287	1,501,165	1,569,920	1,567,493	1,268,053
Admin Expenses	2,813,599	2,965,352	2,548,502	4,893,602	1,625,646	1,702,231	1,669,930	1,706,187	1,782,733	1,294,664	1,356,644	1,338,211	1,424,019	816,361
Operating Profit	-193,658	-327,764	-72,272	-723,884	-314,115	-375,001	170,189	354,491	310,114	70,623	144,521	231,709	143,474	451,692
Interest Payable	145,103	98,002	46,594	46,306	46,942	37,247	20,877	32,333	35,207	29,411	27,754	36,983	33,466	43,324
Interest Receivable	557	174	84	77	0	0	0	14,671	0	0	0	0	0	0
Pre-Tax Profit	-338,204	-425,592	-118,781	-770,113	-361,057	-412,248	149,312	336,829	274,907	41,212	116,767	194,726	110,008	408,368
Tax	0	0	0	0	41,170	67,936	-15,836	-48,671	-34,522	-1,025	0	6,014	0	0
Profit After Tax	-338,204	-425,592	-118,781	-770,113	-319,887	-344,312	133,476	288,158	240,385	40,187	116,767	200,740	110,008	408,368
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-338,204	-425,592	-118,781	-770,113	-319,887	-344,312	133,476	288,158	240,385	40,187	116,767	200,740	110,008	408,368
Employee Costs	1,670,955	1,662,897	1,629,474	1,979,184	1,754,328	1,741,069	1,143,007	1,133,228	1,147,307	858,820	1,146,192	1,185,357	1,326,681	1,131,838
Number Of Employees	36	37	36	48	42	42	44	44	47	36	32	34	40	34
EBITDA*	-128,108	-269,666	-20,267	-686,429	-253,665	-253,998	284,453	467,349	419,457	175,120	243,437	335,194	252,926	351,283

* 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	286,782	250,850	255,774	244,041	161,740	205,276	234,775	329,308	428,972	463,219	532,497	596,568	695,414	794,703
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	4	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	286,782	250,850	255,774	244,041	161,740	205,276	234,775	329,308	428,972	463,219	532,497	596,572	695,414	794,703
Stock & work in progress	1,112,323	1,078,947	881,426	799,896	571,804	650,448	763,763	535,232	695,374	577,422	533,164	616,351	575,369	552,120
Trade Debtors	2,220,816	1,854,916	1,850,537	2,671,050	1,723,674	1,526,839	1,213,562	1,430,967	1,422,955	1,526,264	926,945	820,587	750,253	722,711
Group Debtors	169,028	463,526	991,038	0	1,330,835	1,453,512	1,042,652	654,463	494,646	43,160	166,687	521,467	581,027	53,460
Misc Debtors	221,693	101,510	147,742	0	227,531	208,359	88,305	73,051	62,812	560,559	556,777	116,876	98,727	33,961
Cash	1,269	24,961	21,340	146,695	8,076	2,743	58,072	116,138	138,588	11,736	7,147	31,568	18,104	0
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	3,725,129	3,523,860	3,892,083	3,617,641	3,861,920	3,841,901	3,166,354	2,809,851	2,814,375	2,719,141	2,190,720	2,106,849	2,023,480	1,362,252
total assets	4,011,911	3,774,710	4,147,857	3,861,682	4,023,660	4,047,177	3,401,129	3,139,159	3,243,347	3,182,360	2,723,217	2,703,421	2,718,894	2,156,955
Bank overdraft	0	0	0	0	0	69,607	0	0	0	0	0	0	0	9,295
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	854,833	1,125,973	1,006,044	3,554,022	710,186	773,298	572,998	554,392	602,042	689,105	601,921	498,906	493,363	151,300
Group/Directors Accounts	2,093,459	1,359,671	1,105,421	0	561,462	210,063	0	0	15,751	40,132	686,442	646,431	407,780	0
other short term finances	1,455,170	1,376,108	1,527,656	0	1,518,236	1,259,758	806,643	538,092	857,383	1,024,397	0	0	0	0
hp & lease commitments	0	0	0	0	5,092	4,232	15,421	11,151	11,144	0	81,659	140,004	140,004	0
other current liabilities	183,366	149,671	319,857	0	150,911	206,813	126,909	241,761	226,115	181,163	167,127	280,742	392,506	657,424
total current liabilities	4,586,828	4,011,423	3,958,978	3,554,022	2,945,887	2,523,771	1,521,971	1,345,396	1,712,435	1,934,797	1,537,149	1,566,083	1,433,653	818,019
loans	0	0	0	0	0	125,746	137,186	163,084	167,610	167,610	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	15,164	26,065	0	0	69,992	209,996	380,670
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	146,302	144,347	346,972	340,000
provisions	0	0	0	0	0	0	0	7,019	16,899	0	0	0	6,014	6,014
total long term liabilities	0	0	0	0	0	125,746	137,186	185,267	210,574	167,610	146,302	214,339	562,982	726,684
total liabilities	4,586,828	4,011,423	3,958,978	3,554,022	2,945,887	2,649,517	1,659,157	1,530,663	1,923,009	2,102,407	1,683,451	1,780,422	1,996,635	1,544,703
net assets	-574,917	-236,713	188,879	307,660	1,077,773	1,397,660	1,741,972	1,608,496	1,320,338	1,079,953	1,039,766	922,999	722,259	612,252
total shareholders funds	-574,917	-236,713	188,879	307,660	1,077,773	1,397,660	1,741,972	1,608,496	1,320,338	1,079,953	1,039,766	922,999	722,259	612,252

	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	-193,658	-327,764	-72,272	-723,884	-314,115	-375,001	170,189	354,491	310,114	70,623	144,521	231,709	143,474	451,692
Depreciation	65,550	58,098	52,005	37,455	60,450	121,003	114,264	112,858	109,343	104,497	98,916	103,485	109,452	110,426
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	-210,835
Tax	0	0	0	0	41,170	67,936	-15,836	-48,671	-34,522	-1,025	0	6,014	0	0
Stock	33,376	197,521	81,530	228,092	-78,644	-113,315	228,531	-160,142	117,952	44,258	-83,187	40,982	23,249	552,120
Debtors	191,585	-569,365	318,267	-610,990	93,330	844,191	186,038	178,068	-149,570	479,574	191,479	28,923	619,875	810,132
Creditors	-271,140	119,929	-2,547,978	2,843,836	-63,112	200,300	18,606	-47,650	-87,063	87,184	103,015	5,543	342,063	151,300
Accruals and Deferred Income	33,695	-170,186	319,857	-150,911	-55,902	79,904	-114,852	15,646	44,952	14,036	-113,615	-111,764	-264,918	657,424
Deferred Taxes & Provisions	0	0	0	0	0	0	-7,019	-9,880	16,899	0	0	-6,014	0	6,014
Cash flow from operations	-590,514	51,921	-2,648,185	2,389,394	-346,195	-636,734	-249,217	358,868	391,341	-248,517	124,545	159,068	-313,053	-196,231
Investing Activities
capital expenditure	-101,482	-53,174	-63,738	-119,756	-16,914	-91,504	-19,731	-13,961	-33,784	-35,219	-34,845	-4,639	-10,163	-694,294
Change in Investments	0	0	0	0	0	0	0	0	0	0	-4	4	0	0
cash flow from investments	-101,482	-53,174	-63,738	-119,756	-16,914	-91,504	-19,731	-13,961	-33,784	-35,219	-34,841	-4,643	-10,163	-694,294
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	733,788	254,250	1,105,421	-561,462	351,399	210,063	0	-15,751	-24,381	-646,310	40,011	238,651	407,780	0
Other Short Term Loans	79,062	-151,548	1,527,656	-1,518,236	258,478	453,115	268,551	-319,291	-167,014	1,024,397	0	0	0	0
Long term loans	0	0	0	0	-125,746	-11,440	-25,898	-4,526	0	167,610	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	-5,092	860	-11,189	-10,894	-10,894	37,209	-81,659	-128,337	-140,004	-30,670	380,670
other long term liabilities	0	0	0	0	0	0	0	0	0	-146,302	1,955	-202,625	6,972	340,000
share issue	0	0	0	0	0	0	0	0	0	0	0	0	-1	203,884
interest	-144,546	-97,828	-46,510	-46,229	-46,942	-37,247	-20,877	-17,662	-35,207	-29,411	-27,754	-36,983	-33,466	-43,324
cash flow from financing	668,304	4,874	2,586,567	-2,131,019	438,049	603,302	210,882	-368,124	-189,393	288,325	-114,125	-140,961	350,615	881,230
cash and cash equivalents
cash	-23,692	3,621	-125,355	138,619	5,333	-55,329	-58,066	-22,450	126,852	4,589	-24,421	13,464	18,104	0
overdraft	0	0	0	0	-69,607	69,607	0	0	0	0	0	0	-9,295	9,295
change in cash	-23,692	3,621	-125,355	138,619	74,940	-124,936	-58,066	-22,450	126,852	4,589	-24,421	13,464	27,399	-9,295

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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CARRS COATINGS LIMITED group structure

Carrs Coatings Limited has 1 subsidiary company.

Ultimate parent company

DUKE ROYALTY LTD

#0111253

TRIMITE BID CO LIMITED

11060343

2 parents

CARRS COATINGS LIMITED

06628569

1 subsidiary

CARRS PAINTS LTD

07464872

CARRS COATINGS LIMITED Shareholders

trimite bid co limited

100%

Carrs Coatings Limited currently has 2 directors. The longest serving directors include Mr Nigel Smith (Jan 2024) and Mr Thomas Westwood (Jan 2024).

officer	country	age	start	end	role
Mr Nigel Smith	England	62 years	Jan 2024	-	Director
Mr Thomas Westwood		31 years	Jan 2024	-	Director

P&L

March 2023

turnover

9.3m

+10%

operating profit

-193.7k

gross margin

28.1%

-9.9%

turnover

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

Balance Sheet

March 2023

net assets

-574.9k

+1.43%

total assets

+0.06%

cash

1.3k

-0.95%

net assets

Total assets minus all liabilities

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company number

06628569

Type

Private limited with Share Capital

industry

20301 - Manufacture of paints, varnishes and similar coatings, mastics and sealants

incorporation date

June 2008

ultimate parent company

DUKE ROYALTY LTD

previous names

N/A

address

2e eagle road, north moons moat, redditch, west midlands, B98 9HF

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 11 charges/mortgages relating to carrs coatings limited. Currently there are 3 open charges and 8 have been satisfied in the past.

carrs coatings limited Company Information

carrs coatings limited Estimated Valuation

carrs coatings limited Estimated Valuation

carrs coatings limited Estimated Valuation

Carrs Coatings Limited Overview

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CARRS COATINGS LIMITED financials

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