Surfwax Limited

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surfwax limited Company Information

Company Number

06981409

Next Accounts

May 2025

Directors

Shahid Ahmad

Waqar Ahmed

Shareholders

waqar ahmed

shahid ahmad

Group Structure

View All

Industry

Renting and leasing of cars and light motor vehicles

Registered Address

356 harrow road, london, W9 2HT

Website

http://help2hire.co.uk

surfwax limited Estimated Valuation

£948.4k

Pomanda estimates the enterprise value of SURFWAX LIMITED at £948.4k based on a Turnover of £1.7m and 0.56x industry multiple (adjusted for size and gross margin).

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Surfwax Limited is a live company located in london, W9 2HT with a Companies House number of 06981409. It operates in the renting and leasing of cars and light motor vehicles sector, SIC Code 77110. Founded in August 2009, it's largest shareholder is waqar ahmed with a 50% stake. Surfwax Limited is a established, small sized company, Pomanda has estimated its turnover at £1.7m with declining growth in recent years.

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Pomanda's financial health check has awarded Surfwax Limited a 3 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 6 areas for improvement. Company Health Check FAQs

Health Rating3out of 5

3 Strong

1 Regular

6 Weak

Size

annual sales of £1.7m, make it smaller than the average company (£13.4m)

Growth

3 year (CAGR) sales growth of -8%, show it is growing at a slower rate (6.2%)

EXPORT

Surfwax Limited's latest turnover from August 2023 is estimated at £1.7 million and the company has net assets of £225.1 thousand. According to their latest financial statements, Surfwax Limited has 4 employees and maintains cash reserves of 0 as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Aug 2023	Aug 2022	Aug 2021	Aug 2020	Aug 2019	Aug 2018	Aug 2017	Aug 2016	Aug 2015	Aug 2014	Aug 2013	Aug 2012	Aug 2011	Aug 2010
Turnover	1,703,453	1,264,949	1,548,759	2,165,063	1,873,441	2,212,157	511,069	619,286	610,859	456,459	304,841	280,593	77,053	17,499
Other Income Or Grants
Cost Of Sales	1,368,386	1,032,386	1,345,897	1,844,007	1,563,391	1,827,537	420,324	497,826	511,068	383,499	249,179	229,884	62,297	13,905
Gross Profit	335,066	232,562	202,863	321,056	310,050	384,620	90,745	121,460	99,791	72,961	55,662	50,708	14,756	3,594
Admin Expenses	404,724	276,073	317,858	305,921	272,393	105,133	62,922	91,888	51,194	24,148	13,072	3,542	20,067	8,004
Operating Profit	-69,658	-43,511	-114,995	15,135	37,657	279,487	27,823	29,572	48,597	48,813	42,590	47,166	-5,311	-4,410
Interest Payable													1	1
Interest Receivable						170	123	89	171	663	635	128	29
Pre-Tax Profit	-69,658	-43,511	-114,995	15,135	37,657	279,657	27,946	29,661	48,769	49,476	43,225	47,293	-5,282	-4,411
Tax				-2,876	-7,155	-53,135	-5,310	-5,932	-9,754	-10,390	-9,942	-11,350
Profit After Tax	-69,658	-43,511	-114,995	12,259	30,502	226,522	22,636	23,729	39,015	39,086	33,283	35,943	-5,282	-4,411
Dividends Paid
Retained Profit	-69,658	-43,511	-114,995	12,259	30,502	226,522	22,636	23,729	39,015	39,086	33,283	35,943	-5,282	-4,411
Employee Costs	164,083	192,233	265,977	315,391	204,482	205,074	67,899	66,105	31,123	31,124	28,597	29,302	27,176	29,910
Number Of Employees	4	5	8	9	6	6	2	2	1	1	1	1	1	1
EBITDA*	-69,658	-43,511	-114,995	15,135	37,657	279,487	28,926	29,713	48,785	49,064	42,925	47,612	-5,311	-4,410

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Aug 2023	Aug 2022	Aug 2021	Aug 2020	Aug 2019	Aug 2018	Aug 2017	Aug 2016	Aug 2015	Aug 2014	Aug 2013	Aug 2012	Aug 2011	Aug 2010
Tangible Assets	230,369	156,761	66,293	82,866	1,861	2,482	3,310	424	565	753	1,004	1,339
Intangible Assets
Investments & Other
Debtors (Due After 1 year)
Total Fixed Assets	230,369	156,761	66,293	82,866	1,861	2,482	3,310	424	565	753	1,004	1,339
Stock & work in progress							345,000	326,000	340,000	257,500	102,502	46,879
Trade Debtors	514,743	524,697	605,499	781,792	767,691	636,023	32,073	33,187	53,201	53,201	30,632
Group Debtors
Misc Debtors
Cash							45,282	53,140	18,077	50,434	214,616	39,267	11,776
misc current assets
total current assets	514,743	524,697	605,499	781,792	767,691	636,023	422,355	412,327	411,278	361,135	347,750	86,146	11,776
total assets	745,112	681,458	671,792	864,658	769,552	638,505	425,665	412,751	411,843	361,888	348,754	87,485	11,776
Bank overdraft														20
Bank loan
Trade Creditors	357,194	216,711	292,668	300,393	260,414	152,873	34,794	38,008	47,451	63,267	89,220	61,234	21,468	4,390
Group/Directors Accounts
other short term finances
hp & lease commitments
other current liabilities
total current liabilities	357,194	216,711	292,668	300,393	260,414	152,873	34,794	38,008	47,451	63,267	89,220	61,234	21,468	4,410
loans
hp & lease commitments
Accruals and Deferred Income
other liabilities	162,800	169,971	40,837	110,983	68,115	75,111	6,870	13,378	26,756	200,000	200,000
provisions
total long term liabilities	162,800	169,971	40,837	110,983	68,115	75,111	6,870	13,378	26,756	200,000	200,000
total liabilities	519,994	386,682	333,505	411,376	328,529	227,984	41,664	51,386	74,207	263,267	289,220	61,234	21,468	4,410
net assets	225,118	294,776	338,287	453,282	441,023	410,521	384,001	361,365	337,636	98,621	59,534	26,251	-9,692	-4,410
total shareholders funds	225,118	294,776	338,287	453,282	441,023	410,521	384,001	361,365	337,636	98,621	59,534	26,251	-9,692	-4,410

	Aug 2023	Aug 2022	Aug 2021	Aug 2020	Aug 2019	Aug 2018	Aug 2017	Aug 2016	Aug 2015	Aug 2014	Aug 2013	Aug 2012	Aug 2011	Aug 2010
Operating Activities
Operating Profit	-69,658	-43,511	-114,995	15,135	37,657	279,487	27,823	29,572	48,597	48,813	42,590	47,166	-5,311	-4,410
Depreciation							1,103	141	188	251	335	446
Amortisation
Tax				-2,876	-7,155	-53,135	-5,310	-5,932	-9,754	-10,390	-9,942	-11,350
Stock						-345,000	19,000	-14,000	82,500	154,998	55,623	46,879
Debtors	-9,954	-80,802	-176,293	14,101	131,668	603,950	-1,114	-20,014		22,569	30,632
Creditors	140,483	-75,957	-7,725	39,979	107,541	118,079	-3,214	-9,443	-15,816	-25,953	27,986	39,766	17,078	4,390
Accruals and Deferred Income
Deferred Taxes & Provisions
Cash flow from operations	80,779	-38,666	53,573	38,137	6,375	85,481	2,516	48,352	-59,285	-164,846	-25,286	29,149	11,767	-20
Investing Activities
capital expenditure	-73,608	-90,468	16,573	-81,005	621	828	-3,989					-1,785
Change in Investments
cash flow from investments	-73,608	-90,468	16,573	-81,005	621	828	-3,989					-1,785
Financing Activities
Bank loans
Group/Directors Accounts
Other Short Term Loans
Long term loans
Hire Purchase and Lease Commitments
other long term liabilities	-7,171	129,134	-70,146	42,868	-6,996	68,241	-6,508	-13,378	-173,244		200,000
share issue						-200,002			200,000	1				1
interest						170	123	89	171	663	635	128	28	-1
cash flow from financing	-7,171	129,134	-70,146	42,868	-6,996	-131,591	-6,385	-13,289	26,927	664	200,635	128	28
cash and cash equivalents
cash						-45,282	-7,858	35,063	-32,357	-164,182	175,349	27,491	11,776
overdraft													-20	20
change in cash						-45,282	-7,858	35,063	-32,357	-164,182	175,349	27,491	11,796	-20

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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SURFWAX LIMITED group structure

Surfwax Limited has no subsidiary companies.

Ultimate parent company

SURFWAX LIMITED

06981409

SURFWAX LIMITED Shareholders

waqar ahmed	50%
shahid ahmad	50%

Surfwax Limited currently has 2 directors. The longest serving directors include Mr Shahid Ahmad (Jul 2011) and Mr Waqar Ahmed (Feb 2013).

officer	country	age	start	end	role
Mr Shahid Ahmad	United Kingdom	60 years	Jul 2011	-	Director
Mr Waqar Ahmed	United Kingdom	53 years	Feb 2013	-	Director

P&L

August 2023

turnover

1.7m

+35%

operating profit

-69.7k

gross margin

19.7%

+6.99%

turnover

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

Balance Sheet

August 2023

net assets

225.1k

-0.24%

total assets

745.1k

+0.09%

cash

net assets

Total assets minus all liabilities

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company number

06981409

Type

Private limited with Share Capital

industry

77110 - Renting and leasing of cars and light motor vehicles

incorporation date

August 2009

ultimate parent company

None

previous names

N/A

address

356 harrow road, london, W9 2HT

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 did not find charges/mortgages relating to surfwax limited.

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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surfwax limited Company Information

surfwax limited Estimated Valuation

surfwax limited Estimated Valuation

surfwax limited Estimated Valuation

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SURFWAX LIMITED financials

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