Modern Rugs Limited

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modern rugs limited Company Information

Live (In Liquidation)

EstablishedSmallHigh

Company Number

06957693

Next Accounts

1327 days late

Industry

Retail sale via mail order houses or via Internet

Directors

Nicholas Acaster

Shareholders

m rugs limited

Group Structure

View All

Contact

Registered Address

ground floor portland house, new bridge street west, newcastle upon tyne, NE1 8AL

Website

www.modern-rugs.co.uk

modern rugs limited Estimated Valuation

£3.7m

Pomanda estimates the enterprise value of MODERN RUGS LIMITED at £3.7m based on Net Assets of £1.6m and 2.28x industry multiple (adjusted for liquidity).

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Modern Rugs Limited is a live company located in newcastle upon tyne, NE1 8AL with a Companies House number of 06957693. It operates in the retail sale via mail order houses or via internet sector, SIC Code 47910. Founded in July 2009, it's largest shareholder is m rugs limited with a 100% stake. Modern Rugs Limited is a established, small sized company, Pomanda has estimated its turnover at £1.8m with high growth in recent years.

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Pomanda's financial health check has awarded Modern Rugs Limited a 4 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 Rating4out of 5

4 Strong

4 Regular

3 Weak

Size

annual sales of £1.8m, make it larger than the average company (£399.9k)

Growth

3 year (CAGR) sales growth of 16%, show it is growing at a faster rate (6.4%)

EXPORT

Modern Rugs Limited's latest turnover from August 2019 is estimated at £1.8 million and the company has net assets of £1.6 million. According to their latest financial statements, Modern Rugs Limited has 14 employees and maintains cash reserves of £82.7 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Aug 2019	Aug 2018	Aug 2017	Aug 2016	Aug 2015	Aug 2014	Aug 2013	Aug 2012	Aug 2011	Aug 2010
Turnover	1,828,200	1,770,192	1,714,266	1,177,023	18,728,008	4,886,955	3,906,825	2,669,950	3,028,434	2,583,731
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,110,479	1,096,666	1,059,771	724,260	11,275,210	2,943,031	2,267,333	1,601,568	1,787,792	1,521,020
Gross Profit	717,721	673,526	654,495	452,763	7,452,799	1,943,924	1,639,491	1,068,382	1,240,642	1,062,711
Admin Expenses	868,739	667,375	625,354	431,278	7,156,879	1,343,757	1,079,846	754,273	1,014,001	849,031
Operating Profit	-151,018	6,151	29,141	21,485	295,920	600,167	559,645	314,109	226,641	213,680
Interest Payable	0	0	0	0	0	0	0	0	0	0
Interest Receivable	947	4,097	1,704	1,167	4,824	6,020	3,814	2,317	1,420	488
Pre-Tax Profit	-150,071	10,248	30,844	22,653	300,744	606,187	563,460	316,426	228,061	214,168
Tax	0	-1,947	-5,860	-4,530	-60,149	-127,299	-129,596	-75,942	-59,296	-59,967
Profit After Tax	-150,071	8,301	24,984	18,122	240,595	478,888	433,864	240,484	168,765	154,201
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Retained Profit	-150,071	8,301	24,984	18,122	240,595	478,888	433,864	240,484	168,765	154,201
Employee Costs	386,804	393,545	309,253	165,199	2,362,259	635,226	531,255	329,229	418,677	404,056
Number Of Employees	14	13	11	6	86	23	20	13	16	15
EBITDA*	-89,923	49,993	63,090	42,174	644,658	628,364	590,176	355,917	269,059	257,312

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Aug 2019	Aug 2018	Aug 2017	Aug 2016	Aug 2015	Aug 2014	Aug 2013	Aug 2012	Aug 2011	Aug 2010
Tangible Assets	120,217	143,667	70,475	77,309	64,808	17,276	7,829	9,659	20,381	33,427
Intangible Assets	0	0	0	0	0	337,500	360,000	382,500	405,000	427,500
Investments & Other	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
Total Fixed Assets	120,217	143,667	70,475	77,309	64,808	354,776	367,829	392,159	425,381	460,927
Stock & work in progress	237,234	274,428	205,404	153,612	105,106	80,244	85,308	75,362	56,048	35,732
Trade Debtors	0	0	0	0	1,597,075	274,539	233,369	142,462	158,454	128,672
Group Debtors	1,894,979	1,785,645	1,369,660	1,572,547	0	0	0	0	0	0
Misc Debtors	79,266	58,625	79,353	42,193	0	0	0	0	0	0
Cash	82,690	169,847	922,621	440,383	493,291	1,436,119	971,966	553,823	373,009	195,083
misc current assets	0	0	0	0	0	0	0	0	0	0
total current assets	2,294,169	2,288,545	2,577,038	2,208,735	2,195,472	1,790,902	1,290,643	771,647	587,511	359,487
total assets	2,414,386	2,432,212	2,647,513	2,286,044	2,260,280	2,145,678	1,658,472	1,163,806	1,012,892	820,414
Bank overdraft	0	0	0	0	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0
Trade Creditors	389,762	313,839	419,117	272,424	531,222	666,898	660,609	599,681	687,547	661,452
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0
other short term finances	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0
other current liabilities	406,391	326,894	455,514	263,796	0	0	0	0	0	0
total current liabilities	796,153	640,733	874,631	536,220	531,222	666,898	660,609	599,681	687,547	661,452
loans	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0	0	0	0
provisions	0	23,175	12,879	14,805	12,161	2,478	449	575	2,279	4,661
total long term liabilities	0	23,175	12,879	14,805	12,161	2,478	449	575	2,279	4,661
total liabilities	796,153	663,908	887,510	551,025	543,383	669,376	661,058	600,256	689,826	666,113
net assets	1,618,233	1,768,304	1,760,003	1,735,019	1,716,897	1,476,302	997,414	563,550	323,066	154,301
total shareholders funds	1,618,233	1,768,304	1,760,003	1,735,019	1,716,897	1,476,302	997,414	563,550	323,066	154,301

	Aug 2019	Aug 2018	Aug 2017	Aug 2016	Aug 2015	Aug 2014	Aug 2013	Aug 2012	Aug 2011	Aug 2010
Operating Activities
Operating Profit	-151,018	6,151	29,141	21,485	295,920	600,167	559,645	314,109	226,641	213,680
Depreciation	61,095	43,842	33,949	20,689	11,238	5,697	8,031	19,308	19,918	21,132
Amortisation	0	0	0	0	337,500	22,500	22,500	22,500	22,500	22,500
Tax	0	-1,947	-5,860	-4,530	-60,149	-127,299	-129,596	-75,942	-59,296	-59,967
Stock	-37,194	69,024	51,792	48,506	24,862	-5,064	9,946	19,314	20,316	35,732
Debtors	129,975	395,257	-165,727	17,665	1,322,536	41,170	90,907	-15,992	29,782	128,672
Creditors	75,923	-105,278	146,693	-258,798	-135,676	6,289	60,928	-87,866	26,095	661,452
Accruals and Deferred Income	79,497	-128,620	191,718	263,796	0	0	0	0	0	0
Deferred Taxes & Provisions	-23,175	10,296	-1,926	2,644	9,683	2,029	-126	-1,704	-2,382	4,661
Cash flow from operations	-50,459	-639,837	507,650	-20,885	-888,882	473,277	420,529	187,083	183,378	699,054
Investing Activities
capital expenditure	-37,645	-117,034	-27,115	-33,190	-58,770	-15,144	-6,201	-8,586	-6,872	-504,559
Change in Investments	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-37,645	-117,034	-27,115	-33,190	-58,770	-15,144	-6,201	-8,586	-6,872	-504,559
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0
Long term loans	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
other long term liabilities	0	0	0	0	0	0	0	0	0	0
share issue	0	0	0	0	0	0	0	0	0	100
interest	947	4,097	1,704	1,167	4,824	6,020	3,814	2,317	1,420	488
cash flow from financing	947	4,097	1,704	1,167	4,824	6,020	3,814	2,317	1,420	588
cash and cash equivalents
cash	-87,157	-752,774	482,238	-52,908	-942,828	464,153	418,143	180,814	177,926	195,083
overdraft	0	0	0	0	0	0	0	0	0	0
change in cash	-87,157	-752,774	482,238	-52,908	-942,828	464,153	418,143	180,814	177,926	195,083

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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MODERN RUGS LIMITED group structure

Modern Rugs Limited has no subsidiary companies.

Ultimate parent company

FLOORINGS DIRECT LIMITED

12187976

M RUGS LIMITED

08924587

2 parents

MODERN RUGS LIMITED

06957693

MODERN RUGS LIMITED Shareholders

m rugs limited

100%

Modern Rugs Limited currently has 1 director, Mr Nicholas Acaster serving since Dec 2019.

officer	country	age	start	end	role
Mr Nicholas Acaster	England	50 years	Dec 2019	-	Director

P&L

August 2019

turnover

1.8m

+3%

operating profit

-151k

gross margin

39.3%

+3.18%

turnover

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

Balance Sheet

August 2019

net assets

1.6m

-0.08%

total assets

2.4m

-0.01%

cash

82.7k

-0.51%

net assets

Total assets minus all liabilities

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company number

06957693

Type

Private limited with Share Capital

industry

47910 - Retail sale via mail order houses or via Internet

incorporation date

July 2009

ultimate parent company

FLOORINGS DIRECT LIMITED

previous names

N/A

address

ground floor portland house, new bridge street west, newcastle upon tyne, NE1 8AL

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 3 charges/mortgages relating to modern rugs limited. Currently there are 0 open charges and 3 have been satisfied in the past.

When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.

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modern rugs limited Company Information

modern rugs limited Estimated Valuation

modern rugs limited Estimated Valuation

modern rugs limited Estimated Valuation

Modern Rugs Limited Overview

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MODERN RUGS LIMITED financials

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