Composites Evolution Limited

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composites evolution limited Company Information

Live (In Liquidation)

EstablishedSmallRapid

Company Number

07024132

Next Accounts

283 days late

Industry

Manufacture of other technical and industrial textiles

Directors

Brendon Weager

Christopher Barnes

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Shareholders

clockpress holdings ltd

netcomposites business group ltd

Group Structure

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Contact

Registered Address

cromwell house cromwell house, crusader road, lincoln, LN6 7YT

Website

www.compositesevolution.com

composites evolution limited Estimated Valuation

£273k

Pomanda estimates the enterprise value of COMPOSITES EVOLUTION LIMITED at £273k based on a Turnover of £1.5m and 0.18x industry multiple (adjusted for size and gross margin).

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Composites Evolution Limited is a live company located in lincoln, LN6 7YT with a Companies House number of 07024132. It operates in the manufacture of other technical and industrial textiles sector, SIC Code 13960. Founded in September 2009, it's largest shareholder is clockpress holdings ltd with a 80.1% stake. Composites Evolution Limited is a established, small sized company, Pomanda has estimated its turnover at £1.5m with rapid growth in recent years.

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Pomanda's financial health check has awarded Composites Evolution Limited a 2 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 8 areas for improvement. Company Health Check FAQs

Health Rating2out of 5

3 Strong

1 Regular

8 Weak

Size

annual sales of £1.5m, make it smaller than the average company (£15.2m)

Growth

3 year (CAGR) sales growth of 49%, show it is growing at a faster rate (1%)

EXPORT

Composites Evolution Limited's latest turnover from June 2022 is estimated at £1.5 million and the company has net assets of £9.9 thousand. According to their latest financial statements, Composites Evolution Limited has 21 employees and maintains cash reserves of £14 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Jun 2013	Sep 2012	Sep 2011	Sep 2010
Turnover	1,544,687	1,234,565	1,188,446	464,874	386,663	545,151	59,904	84,903	79,587	79,014	256,386	153,949	68,065
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,260,124	1,026,017	975,542	310,826	317,022	438,450	47,438	69,003	63,980	61,916	205,676	118,068	52,193
Gross Profit	284,563	208,549	212,904	154,048	69,641	106,702	12,466	15,900	15,606	17,098	50,711	35,881	15,872
Admin Expenses	704,674	-94,889	183,611	201,176	-4,123	3,185	5,558	15,260	30,582	87,977	154,630	73,422	46,752
Operating Profit	-420,111	303,438	29,293	-47,128	73,764	103,517	6,908	640	-14,976	-70,879	-103,919	-37,541	-30,880
Interest Payable	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	698	111	69	0	1,202	582	32	47	49	50	38	33	31
Pre-Tax Profit	-419,413	303,548	29,362	-47,128	74,967	104,099	6,940	686	-14,927	-70,829	-103,881	-37,508	-30,849
Tax	0	-57,674	-5,579	50,287	-14,244	-19,779	-1,388	-137	0	0	0	0	0
Profit After Tax	-419,413	245,874	23,783	3,159	60,723	84,320	5,552	549	-14,927	-70,829	-103,881	-37,508	-30,849
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-419,413	245,874	23,783	3,159	60,723	84,320	5,552	549	-14,927	-70,829	-103,881	-37,508	-30,849
Employee Costs	782,433	513,412	394,118	251,600	214,185	133,041	33,802	30,912	29,403	29,721	57,524	54,974	28,147
Number Of Employees	21	14	11	7	6	4	1	1	1	1	2	2	1
EBITDA*	-414,210	307,815	33,247	-43,209	75,284	103,890	7,282	1,305	-14,422	-70,595	-103,689	-37,503	-30,880

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Jun 2013	Sep 2012	Sep 2011	Sep 2010
Tangible Assets	31,085	32,327	20,277	23,915	27,081	1,013	983	1,798	2,214	656	420	650	0
Intangible Assets	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
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	31,085	32,327	20,277	23,915	27,081	1,013	983	1,798	2,214	656	420	650	0
Stock & work in progress	232,050	184,866	127,995	90,602	28,871	27,508	6,860	8,259	13,438	13,864	15,940	19,185	0
Trade Debtors	356,018	412,789	301,531	221,608	125,237	66,268	14,835	21,482	16,315	20,090	10,782	18,291	3,106
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	14,004	97,657	123,428	13,661	23,564	457,421	8,345	4,318	14,378	5,401	14,446	803	12,211
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	602,072	695,312	552,954	325,871	177,672	551,197	30,040	34,059	44,131	39,355	41,168	38,279	15,317
total assets	633,157	727,639	573,231	349,786	204,753	552,210	31,023	35,857	46,345	40,011	41,588	38,929	15,317
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	478,073	288,745	379,848	179,304	32,717	347,105	19,616	30,002	41,039	19,778	213,726	107,186	46,066
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	0	0	0	0	0	0	0	0	0	0	0	0	0
total current liabilities	478,073	288,745	379,848	179,304	32,717	347,105	19,616	30,002	41,039	19,778	213,726	107,186	46,066
loans	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
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	140,343	4,562	6,055	7,555	11,766	109,378	0	0	0	0	0	0	0
provisions	4,888	5,066	3,936	3,318	3,820	0	0	0	0	0	0	0	0
total long term liabilities	145,231	9,628	9,991	10,873	15,586	109,378	0	0	0	0	0	0	0
total liabilities	623,304	298,373	389,839	190,177	48,303	456,483	19,616	30,002	41,039	19,778	213,726	107,186	46,066
net assets	9,853	429,266	183,392	159,609	156,450	95,727	11,407	5,855	5,306	20,233	-172,138	-68,257	-30,749
total shareholders funds	9,853	429,266	183,392	159,609	156,450	95,727	11,407	5,855	5,306	20,233	-172,138	-68,257	-30,749

	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Jun 2013	Sep 2012	Sep 2011	Sep 2010
Operating Activities
Operating Profit	-420,111	303,438	29,293	-47,128	73,764	103,517	6,908	640	-14,976	-70,879	-103,919	-37,541	-30,880
Depreciation	5,901	4,377	3,954	3,919	1,520	373	374	665	554	284	230	38	0
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	0	-57,674	-5,579	50,287	-14,244	-19,779	-1,388	-137	0	0	0	0	0
Stock	47,184	56,871	37,393	61,731	1,363	20,648	-1,399	-5,179	-426	-2,076	-3,245	19,185	0
Debtors	-56,771	111,258	79,923	96,371	58,969	51,433	-6,647	5,167	-3,775	9,308	-7,509	15,185	3,106
Creditors	189,328	-91,103	200,544	146,587	-314,388	327,489	-10,386	-11,037	21,261	-193,948	106,540	61,120	46,066
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Taxes & Provisions	-178	1,130	618	-502	3,820	0	0	0	0	0	0	0	0
Cash flow from operations	-215,473	-7,961	111,514	-4,939	-309,860	339,519	3,554	-9,857	11,040	-271,775	13,605	-10,753	12,080
Investing Activities
capital expenditure	-4,659	-16,427	-316	-753	-27,588	-403	441	-249	-2,112	-520	0	-688	0
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-4,659	-16,427	-316	-753	-27,588	-403	441	-249	-2,112	-520	0	-688	0
Financing Activities
Bank loans	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
Other Short Term Loans	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
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	135,781	-1,493	-1,500	-4,211	-97,612	109,378	0	0	0	0	0	0	0
share issue	0	0	0	0	0	0	0	0	0	263,200	0	0	100
interest	698	111	69	0	1,202	582	32	47	49	50	38	33	31
cash flow from financing	136,479	-1,382	-1,431	-4,211	-96,410	109,960	32	47	49	263,250	38	33	131
cash and cash equivalents
cash	-83,653	-25,771	109,767	-9,903	-433,857	449,076	4,027	-10,060	8,977	-9,045	13,643	-11,408	12,211
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	-83,653	-25,771	109,767	-9,903	-433,857	449,076	4,027	-10,060	8,977	-9,045	13,643	-11,408	12,211

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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COMPOSITES EVOLUTION LIMITED group structure

Composites Evolution Limited has no subsidiary companies.

Ultimate parent company

NETCOMPOSITES BUSINESS GROUP LIMITED

08354793

1 parent

COMPOSITES EVOLUTION LIMITED

07024132

COMPOSITES EVOLUTION LIMITED Shareholders

clockpress holdings ltd	80.1%
netcomposites business group ltd	19.9%

Composites Evolution Limited currently has 3 directors. The longest serving directors include Mr Brendon Weager (Jul 2018) and Mr Christopher Barnes (Sep 2022).

officer	country	age	start	end	role
Mr Brendon Weager		47 years	Jul 2018	-	Director
Mr Christopher Barnes	England	43 years	Sep 2022	-	Director
Mr Samuel Kirk		37 years	Sep 2022	-	Director

P&L

June 2022

turnover

1.5m

+25%

operating profit

-420.1k

gross margin

18.5%

+9.05%

turnover

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

Balance Sheet

June 2022

net assets

9.9k

-0.98%

total assets

633.2k

-0.13%

cash

14k

-0.86%

net assets

Total assets minus all liabilities

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4.5

company number

07024132

Type

Private limited with Share Capital

industry

13960 - Manufacture of other technical and industrial textiles

incorporation date

September 2009

ultimate parent company

NETCOMPOSITES BUSINESS GROUP LIMITED

previous names

N/A

address

cromwell house cromwell house, crusader road, lincoln, LN6 7YT

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 2 charges/mortgages relating to composites evolution limited. Currently there are 0 open charges and 2 have been satisfied in the past.

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composites evolution limited Company Information

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composites evolution limited Estimated Valuation

composites evolution limited Estimated Valuation

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