Advance Drivers Limited

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advance drivers limited Company Information

Live (In Liquidation)

EstablishedMidRapid

Company Number

06898237

Next Accounts

Feb 2025

Industry

Temporary employment agency activities

Directors

Sheron Cummins

Shareholders

sheron cummins

alana christine cummins

Group Structure

View All

Contact

Registered Address

cavendish house, 39-41 waterloo street, birmingham, B2 5PP

Website

www.advancesupport.co.uk

advance drivers limited Estimated Valuation

£4.8m

Pomanda estimates the enterprise value of ADVANCE DRIVERS LIMITED at £4.8m based on a Turnover of £18.3m and 0.26x industry multiple (adjusted for size and gross margin).

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Advance Drivers Limited is a live company located in birmingham, B2 5PP with a Companies House number of 06898237. It operates in the temporary employment agency activities sector, SIC Code 78200. Founded in May 2009, it's largest shareholder is sheron cummins with a 99% stake. Advance Drivers Limited is a established, mid sized company, Pomanda has estimated its turnover at £18.3m with rapid growth in recent years.

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Pomanda's financial health check has awarded Advance Drivers Limited a 2.5 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 5 areas for improvement. Company Health Check FAQs

Health Rating2.5out of 5

4 Strong

2 Regular

5 Weak

Size

annual sales of £18.3m, make it larger than the average company (£13.5m)

Growth

3 year (CAGR) sales growth of 36%, show it is growing at a faster rate (4%)

EXPORT

Advance Drivers Limited's latest turnover from May 2023 is estimated at £18.3 million and the company has net assets of £132.5 thousand. According to their latest financial statements, Advance Drivers Limited has 229 employees and maintains cash reserves of £53.4 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	May 2011	May 2010
Turnover	18,335,508	24,689,163	13,894,383	7,214,566	8,908,146	9,555,159	8,129,476	6,251,933	17,611,118	18,378,051	13,069,420	18,632,390	9,582,922	8,350,056
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	14,973,790	20,517,615	11,815,823	6,001,209	7,390,750	7,879,992	6,707,156	5,191,028	14,598,340	15,122,516	10,761,458	15,404,525	7,829,772	6,691,241
Gross Profit	3,361,718	4,171,548	2,078,560	1,213,357	1,517,396	1,675,167	1,422,320	1,060,905	3,012,778	3,255,536	2,307,962	3,227,865	1,753,150	1,658,815
Admin Expenses	3,831,942	4,227,022	1,862,439	1,187,901	1,288,537	1,671,539	1,423,496	1,075,790	2,951,327	3,186,490	2,249,986	3,154,310	1,692,377	1,610,354
Operating Profit	-470,224	-55,474	216,121	25,456	228,859	3,628	-1,176	-14,885	61,451	69,046	57,976	73,555	60,773	48,461
Interest Payable	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	1,838	229	31	39	790	881	331	337	254	298	293	213	115	35
Pre-Tax Profit	-468,386	-55,245	216,152	25,495	229,649	4,509	-845	-14,548	61,705	69,344	58,269	73,768	60,888	48,496
Tax	0	0	-41,069	-4,844	-43,633	-857	0	0	-12,341	-14,562	-13,402	-17,704	-15,831	-13,579
Profit After Tax	-468,386	-55,245	175,083	20,651	186,016	3,652	-845	-14,548	49,364	54,782	44,867	56,064	45,057	34,917
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-468,386	-55,245	175,083	20,651	186,016	3,652	-845	-14,548	49,364	54,782	44,867	56,064	45,057	34,917
Employee Costs	11,341,555	11,969,066	2,521,630	2,291,494	2,141,060	1,914,903	2,228,421	1,545,064	2,431,889	2,312,078	1,788,026	2,536,599	1,191,569	1,239,175
Number Of Employees	229	260	60	55	54	49	57	40	64	61	48	68	34	35
EBITDA*	-456,419	-43,207	226,851	32,983	237,115	9,247	7,894	-638	66,762	85,697	69,059	87,668	69,934	56,827

* 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	May 2011	May 2010
Tangible Assets	48,356	19,079	18,925	16,961	12,606	12,632	30,286	38,522	49,497	45,836	24,994	30,858	23,363	24,240
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	48,356	19,079	18,925	16,961	12,606	12,632	30,286	38,522	49,497	45,836	24,994	30,858	23,363	24,240
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	48,718	0
Trade Debtors	1,255,687	2,743,410	2,350,186	913,291	1,464,343	1,579,600	1,182,817	892,372	1,047,174	1,108,279	784,055	1,113,824	539,226	506,869
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	441,946	278,532	441,290	155,899	227,372	40,602	133,129	45,840	0	0	0	0	0	0
Cash	53,432	28,275	17,450	44,060	34,687	176,105	176,139	88,638	46,102	55,369	63,966	53,034	32,168	13,944
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	1,751,065	3,050,217	2,808,926	1,113,250	1,726,402	1,796,307	1,492,085	1,026,850	1,093,276	1,163,648	848,021	1,166,858	620,112	520,813
total assets	1,799,421	3,069,296	2,827,851	1,130,211	1,739,008	1,808,939	1,522,371	1,065,372	1,142,773	1,209,484	873,015	1,197,716	643,475	545,053
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	52,111	17,520	19,899	16,028	15,584	16,647	8,570	5,836	826,484	942,355	675,060	1,039,550	551,431	492,694
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	5,555	5,235	0	0	0	0	0	0
other current liabilities	1,614,781	2,448,289	2,150,093	631,774	1,262,615	1,517,083	1,216,742	756,635	0	0	0	0	0	0
total current liabilities	1,666,892	2,465,809	2,169,992	647,802	1,278,199	1,533,730	1,230,867	767,706	826,484	942,355	675,060	1,039,550	551,431	492,694
loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	21,508	27,063	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	0	0	0	0	0	0	0	0	31,138	31,342	16,950	22,028	11,970	17,342
provisions	0	2,572	1,699	1,332	383	799	238	0	0	0	0	0	0	0
total long term liabilities	0	2,572	1,699	1,332	383	799	21,746	27,063	31,138	31,342	16,950	22,028	11,970	17,342
total liabilities	1,666,892	2,468,381	2,171,691	649,134	1,278,582	1,534,529	1,252,613	794,769	857,622	973,697	692,010	1,061,578	563,401	510,036
net assets	132,529	600,915	656,160	481,077	460,426	274,410	269,758	270,603	285,151	235,787	181,005	136,138	80,074	35,017
total shareholders funds	132,529	600,915	656,160	481,077	460,426	274,410	269,758	270,603	285,151	235,787	181,005	136,138	80,074	35,017

	May 2023	May 2022	May 2021	May 2020	May 2019	May 2018	May 2017	May 2016	May 2015	May 2014	May 2013	May 2012	May 2011	May 2010
Operating Activities
Operating Profit	-470,224	-55,474	216,121	25,456	228,859	3,628	-1,176	-14,885	61,451	69,046	57,976	73,555	60,773	48,461
Depreciation	13,805	12,267	10,730	7,527	8,256	5,619	9,070	14,247	5,311	16,651	11,083	14,113	9,161	8,366
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	0	0	-41,069	-4,844	-43,633	-857	0	0	-12,341	-14,562	-13,402	-17,704	-15,831	-13,579
Stock	0	0	0	0	0	0	0	0	0	0	0	-48,718	48,718	0
Debtors	-1,324,309	230,466	1,722,286	-622,525	71,513	304,256	377,734	-108,962	-61,105	324,224	-329,769	574,598	32,357	506,869
Creditors	34,591	-2,379	3,871	444	-1,063	8,077	2,734	-820,648	-115,871	267,295	-364,490	488,119	58,737	492,694
Accruals and Deferred Income	-833,508	298,196	1,518,319	-630,841	-254,468	300,341	460,107	756,635	0	0	0	0	0	0
Deferred Taxes & Provisions	-2,572	873	367	949	-416	561	238	0	0	0	0	0	0	0
Cash flow from operations	66,401	23,017	-13,947	21,216	-133,978	13,113	93,239	44,311	-345	14,206	20,936	32,203	31,765	29,073
Investing Activities
capital expenditure	-43,082	-12,421	-12,694	-11,882	-8,230	12,035	-834	-3,272	-8,972	-37,493	-5,219	-21,608	-8,284	-32,606
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-43,082	-12,421	-12,694	-11,882	-8,230	12,035	-834	-3,272	-8,972	-37,493	-5,219	-21,608	-8,284	-32,606
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	-27,063	-5,235	32,298	0	0	0	0	0	0
other long term liabilities	0	0	0	0	0	0	0	-31,138	-204	14,392	-5,078	10,058	-5,372	17,342
share issue	0	0	0	0	0	1,000	0	0	0	0	0	0	0	100
interest	1,838	229	31	39	790	881	331	337	254	298	293	213	115	35
cash flow from financing	1,838	229	31	39	790	-25,182	-4,904	1,497	50	14,690	-4,785	10,271	-5,257	17,477
cash and cash equivalents
cash	25,157	10,825	-26,610	9,373	-141,418	-34	87,501	42,536	-9,267	-8,597	10,932	20,866	18,224	13,944
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	25,157	10,825	-26,610	9,373	-141,418	-34	87,501	42,536	-9,267	-8,597	10,932	20,866	18,224	13,944

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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ADVANCE DRIVERS LIMITED group structure

Advance Drivers Limited has no subsidiary companies.

Ultimate parent company

ADVANCE DRIVERS LIMITED

06898237

ADVANCE DRIVERS LIMITED Shareholders

sheron cummins	99.01%
alana christine cummins	0.99%

Advance Drivers Limited currently has 1 director, Ms Sheron Cummins serving since May 2009.

officer	country	age	start	end	role
Ms Sheron Cummins	England	54 years	May 2009	-	Director

P&L

May 2023

turnover

18.3m

-26%

operating profit

-470.2k

gross margin

18.4%

+8.51%

turnover

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

Balance Sheet

May 2023

net assets

132.5k

-0.78%

total assets

1.8m

-0.41%

cash

53.4k

+0.89%

net assets

Total assets minus all liabilities

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company number

06898237

Type

Private limited with Share Capital

industry

78200 - Temporary employment agency activities

incorporation date

May 2009

ultimate parent company

None

previous names

advance drivers limited (September 2018)

address

cavendish house, 39-41 waterloo street, birmingham, B2 5PP

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 5 charges/mortgages relating to advance drivers limited. Currently there are 2 open charges and 3 have been satisfied in the past.

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