Faradays Solicitors Limited

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faradays solicitors limited Company Information

Company Number

06850103

Next Accounts

Feb 2025

Directors

Andreas Symeou

Panayiotis Symeou

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Shareholders

panayiotis symeou

andreas symeou

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Group Structure

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Industry

Solicitors

Registered Address

142 seven sisters road, finsbury park, london, N7 7NS

Website

www.faradayssolicitors.co.uk

faradays solicitors limited Estimated Valuation

£6.3m

Pomanda estimates the enterprise value of FARADAYS SOLICITORS LIMITED at £6.3m based on an EBITDA of £1.5m and a 4.26x industry multiple (adjusted for size and gross margin).

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Faradays Solicitors Limited is a live company located in london, N7 7NS with a Companies House number of 06850103. It operates in the solicitors sector, SIC Code 69102. Founded in March 2009, it's largest shareholder is panayiotis symeou with a 42% stake. Faradays Solicitors Limited is a established, small sized company, Pomanda has estimated its turnover at £2.3m with rapid growth in recent years.

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Pomanda's financial health check has awarded Faradays Solicitors Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 3 areas for improvement. Company Health Check FAQs

Health Rating5out of 5

7 Strong

2 Regular

3 Weak

Size

annual sales of £2.3m, make it larger than the average company (£1.3m)

Growth

3 year (CAGR) sales growth of 62%, show it is growing at a faster rate (6.3%)

EXPORT

Faradays Solicitors Limited's latest turnover from May 2023 is £2.3 million and the company has net assets of £742.9 thousand. According to their latest financial statements, Faradays Solicitors Limited has 8 employees and maintains cash reserves of £937.6 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	May 2023	May 2022	May 2021	May 2020	May 2019	May 2018	May 2017	May 2016	May 2015	May 2014	May 2013	May 2012	Nov 2010
Turnover	2,339,609	605,880	573,319	554,509	708,190	727,230	898,361	522,278	955,089	1,143,074	1,095,896	1,105,394	1,103,058
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	9,714	191,278	225,296	212,910	264,328	204,211	223,618	179,556	381,906	495,375	444,991	403,265	354,971
Gross Profit	2,329,895	414,602	348,023	341,599	443,862	523,018	674,743	342,721	573,184	647,699	650,904	702,128	748,087
Admin Expenses	964,582	194,748	306,456	-99,587	1,417,617	353,263	656,823	408,125	-224,917	277,001	789,993	398,744	474,068
Operating Profit	1,365,313	219,854	41,567	441,186	-973,755	169,755	17,920	-65,404	798,101	370,698	-139,089	303,384	274,019
Interest Payable	0	0	0	0	0	8,731	8,395	0	0	0	0	0	0
Interest Receivable	0	7,732	635	787	5,916	3,819	2,280	6,014	5,907	3,899	3,609	1,899	1,827
Pre-Tax Profit	1,352,286	227,586	42,202	441,973	-967,839	164,843	11,805	-59,390	804,008	374,596	-135,480	305,283	275,846
Tax	-297,397	-43,241	-8,018	-83,975	0	-31,320	-2,243	0	-160,801	-78,665	0	-73,268	-77,237
Profit After Tax	1,054,889	184,345	34,184	357,998	-967,839	133,523	9,562	-59,390	643,206	295,931	-135,480	232,015	198,609
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	1,054,889	184,345	34,184	357,998	-967,839	133,523	9,562	-59,390	643,206	295,931	-135,480	232,015	198,609
Employee Costs	310,019	350,731	263,039	363,876	466,460	378,538	361,201	274,292	516,987	589,131	627,057	680,512	683,855
Number Of Employees	8	10	8	11	14	12	12	9	17	20	21	22	22
EBITDA*	1,476,031	331,060	154,346	555,658	-857,484	287,764	138,427	56,357	922,764	494,121	-21,054	406,339	375,859

* Earnings Before Interest, Tax, Depreciation and Amortisation

	May 2023	May 2022	May 2021	May 2020	May 2019	May 2018	May 2017	May 2016	May 2015	May 2014	May 2013	May 2012	Nov 2010
Tangible Assets	60,736	63,500	72,416	82,007	92,206	102,052	116,208	123,311	139,754	161,553	137,999	16,747	10,428
Intangible Assets	200,000	300,000	400,000	500,000	600,000	700,000	800,000	900,000	1,000,000	1,100,000	1,200,000	1,300,000	1,400,000
Investments & Other	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
Total Fixed Assets	260,736	363,500	472,416	582,007	692,206	802,052	916,208	1,023,311	1,139,754	1,261,553	1,337,999	1,316,747	1,410,428
Stock & work in progress	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	300,000	350,000	200,000
Trade Debtors	438,553	140,623	137,312	79,753	93,318	148,573	262,609	116,786	82,715	157,069	164,030	129,479	129,315
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	105,866	67,336	57,366	59,965	164,335	350,564	685	0	0	0	0	0	27,271
Cash	937,599	893,758	652,698	617,454	955,592	621,953	905,769	918,378	1,487,238	875,429	684,037	759,712	730,774
misc current assets	0	0	0	0	0	42,892	72,244	61,328	79,311	54,196	37,745	31,852	0
total current assets	1,832,018	1,451,717	1,197,376	1,107,172	1,563,245	1,513,982	1,591,307	1,446,492	1,999,264	1,436,694	1,185,812	1,271,043	1,087,360
total assets	2,092,754	1,815,217	1,669,792	1,689,179	2,255,451	2,316,034	2,507,515	2,469,803	3,139,018	2,698,247	2,523,811	2,587,790	2,497,788
Bank overdraft	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
Trade Creditors	39,256	12,885	67,356	47,184	70,500	65,133	115,763	71,229	1,039,365	767,889	625,998	743,988	784,184
Group/Directors Accounts	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
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	1,302,579	799,835	685,048	707,975	1,114,269	902,087	1,124,712	1,143,871	0	0	0	0	0
total current liabilities	1,341,835	812,720	752,404	755,159	1,184,769	967,220	1,240,475	1,215,100	1,039,365	767,889	625,998	743,988	784,184
loans	0	0	0	0	0	0	268,643	0	0	0	0	0	0
hp & lease commitments	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
other liabilities	0	266,225	357,372	413,905	908,566	218,401	0	266,262	1,050,639	1,522,376	1,786,827	1,610,887	1,514,095
provisions	7,975	7,217	15,306	9,589	9,588	10,046	11,553	11,159	12,342	14,516	13,451	0	0
total long term liabilities	7,975	273,442	372,678	423,494	918,154	228,447	280,196	277,421	1,062,981	1,536,892	1,800,278	1,610,887	1,514,095
total liabilities	1,349,810	1,086,162	1,125,082	1,178,653	2,102,923	1,195,667	1,520,671	1,492,521	2,102,346	2,304,781	2,426,276	2,354,875	2,298,279
net assets	742,944	729,055	544,710	510,526	152,528	1,120,367	986,844	977,282	1,036,672	393,466	97,535	232,915	199,509
total shareholders funds	742,944	729,055	544,710	510,526	152,528	1,120,367	986,844	977,282	1,036,672	393,466	97,535	232,915	199,509

	May 2023	May 2022	May 2021	May 2020	May 2019	May 2018	May 2017	May 2016	May 2015	May 2014	May 2013	May 2012	Nov 2010	Nov 2009
Operating Activities
Operating Profit	1,365,313	219,854	41,567	441,186	-973,755	169,755	17,920	-65,404	798,101	370,698	-139,089	303,384	274,019	0
Depreciation	10,718	11,206	12,779	14,472	16,271	18,009	20,507	21,761	24,663	23,423	18,035	2,955	1,840	0
Amortisation	100,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	0
Tax	-297,397	-43,241	-8,018	-83,975	0	-31,320	-2,243	0	-160,801	-78,665	0	-73,268	-77,237	0
Stock	0	0	0	0	0	0	0	0	0	50,000	-50,000	350,000	200,000	0
Debtors	336,460	13,281	54,960	-117,935	-241,484	235,843	146,508	34,071	-74,354	-6,961	34,551	129,479	156,586	0
Creditors	26,371	-54,471	20,172	-23,316	5,367	-50,630	44,534	-968,136	271,476	141,891	-117,990	743,988	784,184	0
Accruals and Deferred Income	502,744	114,787	-22,927	-406,294	212,182	-222,625	-19,159	1,143,871	0	0	0	0	0	0
Deferred Taxes & Provisions	758	-8,089	5,717	1	-458	-1,507	394	-1,183	-2,174	1,065	13,451	0	0	0
Cash flow from operations	1,372,047	326,765	94,330	160,009	-398,909	-254,161	15,445	196,838	1,105,619	515,373	-110,144	597,580	726,220	0
Investing Activities
capital expenditure	-7,954	-2,290	-3,188	-4,273	-6,425	-3,853	-13,404	-5,318	-2,864	-46,977	-139,287	-1,419,702	-1,512,268	0
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-7,954	-2,290	-3,188	-4,273	-6,425	-3,853	-13,404	-5,318	-2,864	-46,977	-139,287	-1,419,702	-1,512,268	0
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	-268,643	268,643	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	-266,225	-91,147	-56,533	-494,661	690,165	218,401	-266,262	-784,377	-471,737	-264,451	175,940	1,610,887	1,514,095	0
share issue	-1,041,000	0	0	0	0	0	0	0	0	0	100	900	900	0
interest	0	7,732	635	787	5,916	-4,912	-6,115	6,014	5,907	3,899	3,609	1,899	1,827	0
cash flow from financing	-1,307,225	-83,415	-55,898	-493,874	696,081	-55,154	-3,734	-778,363	-465,830	-260,552	179,649	1,613,686	1,516,822	0
cash and cash equivalents
cash	43,841	241,060	35,244	-338,138	333,639	-283,816	-12,609	-568,860	611,809	191,392	-75,675	759,712	730,774	0
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	43,841	241,060	35,244	-338,138	333,639	-283,816	-12,609	-568,860	611,809	191,392	-75,675	759,712	730,774	0

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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FARADAYS SOLICITORS LIMITED group structure

Faradays Solicitors Limited has no subsidiary companies.

Ultimate parent company

FARADAYS SOLICITORS LIMITED

06850103

FARADAYS SOLICITORS LIMITED Shareholders

panayiotis symeou	42%
andreas symeou	24%
sanjeev shivalkar	24%
tommy polycarpou	10%

Faradays Solicitors Limited currently has 4 directors. The longest serving directors include Mr Andreas Symeou (Mar 2009) and Mr Panayiotis Symeou (Mar 2009).

officer	country	age	start	end	role
Mr Andreas Symeou		58 years	Mar 2009	-	Director
Mr Panayiotis Symeou		58 years	Mar 2009	-	Director
Mr Sanjeev Shivalkar	England	59 years	Mar 2009	-	Director
Mr Tommy Polycarpou		43 years	Apr 2012	-	Director

P&L

May 2023

turnover

2.3m

operating profit

1.4m

gross margin

99.6%

turnover

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

Balance Sheet

May 2023

net assets

742.9k

+0.02%

total assets

2.1m

+0.15%

cash

937.6k

+0.05%

net assets

Total assets minus all liabilities

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company number

06850103

Type

Private limited with Share Capital

industry

69102 - Solicitors

incorporation date

March 2009

ultimate parent company

None

previous names

N/A

address

142 seven sisters road, finsbury park, london, N7 7NS

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faradays solicitors limited Company Information

faradays solicitors limited Estimated Valuation

faradays solicitors limited Estimated Valuation

faradays solicitors limited Estimated Valuation

Faradays Solicitors Limited Overview

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FARADAYS SOLICITORS LIMITED financials

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