Practice Cover Ltd

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practice cover ltd Company Information

Live

EstablishedMicroHealthy

Company Number

07063423

Website

www.practicecover.co.uk

Registered Address

255 green lanes, london, N13 4XE

Industry

Non-life insurance

Telephone

02380513286

Next Accounts Due

September 2025

Group Structure

View All

Directors

Natasha Hardy3 Years

Shareholders

natasha hardy 100%

practice cover ltd Estimated Valuation

£540.7k

Pomanda estimates the enterprise value of PRACTICE COVER LTD at £540.7k based on an EBITDA of £63.1k and a 8.57x industry multiple (adjusted for size and gross margin).

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Practice Cover Ltd is a live company located in london, N13 4XE with a Companies House number of 07063423. It operates in the non-life insurance sector, SIC Code 65120. Founded in November 2009, it's largest shareholder is natasha hardy with a 100% stake. Practice Cover Ltd is a established, micro sized company, Pomanda has estimated its turnover at £286.6k with healthy growth in recent years.

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Pomanda's financial health check has awarded Practice Cover Ltd a 4.5 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 Rating4.5out of 5

4 Strong

4 Regular

3 Weak

Size

annual sales of £286.6k, make it smaller than the average company (£2m)

Growth

3 year (CAGR) sales growth of 9%, show it is growing at a similar rate (8.8%)

EXPORT

Practice Cover Ltd's latest turnover from December 2023 is estimated at £286.6 thousand and the company has net assets of £176.8 thousand. According to their latest financial statements, Practice Cover Ltd has 5 employees and maintains cash reserves of £83.6 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010
Turnover	286,584	287,666	238,620	222,610	245,677	124,781	251,362	129,670	1,250	5,989	1,679	1,193	1,276	285
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,776	5,570	6,083	5,803	10,714	5,123	15,363	9,963	121	1,029	398	296	339	81
Gross Profit	284,808	282,095	232,537	216,807	234,963	119,658	235,999	119,707	1,129	4,960	1,281	896	937	203
Admin Expenses	241,604	190,865	214,747	203,799	291,618	99,275	204,070	66,536	-10,828	-26,314	-14,687	-4,311	8,219	24,700
Operating Profit	43,204	91,230	17,790	13,008	-56,655	20,383	31,929	53,171	11,957	31,274	15,968	5,207	-7,282	-24,497
Interest Payable	3,289	3,768	3,010	5,477	4,311	0	0	0	0	0	0	0	0	0
Interest Receivable	3,182	1,011	51	55	493	755	384	48	230	188	94	60	32	13
Pre-Tax Profit	43,097	88,473	14,831	7,586	-60,473	21,138	32,314	53,219	12,186	31,462	16,062	5,267	-7,250	-24,484
Tax	-10,774	-16,810	-2,818	-1,441	0	-4,016	-6,140	-10,644	-2,437	-6,607	-3,694	-1,264	0	0
Profit After Tax	32,323	71,663	12,013	6,145	-60,473	17,122	26,174	42,575	9,749	24,855	12,368	4,003	-7,250	-24,484
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	32,323	71,663	12,013	6,145	-60,473	17,122	26,174	42,575	9,749	24,855	12,368	4,003	-7,250	-24,484
Employee Costs	322,982	240,163	293,333	218,750	219,074	110,731	108,434	52,439	52,019	53,085	51,094	49,744	50,553	48,165
Number Of Employees	5	4	5	4	4	2	2	1	1	1	1	1	1	1
EBITDA*	63,096	109,388	44,512	31,835	-54,752	21,346	31,929	53,171	12,626	33,341	18,043	7,290	-5,188	-22,901

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010
Tangible Assets	8,996	5,760	1,624	2,962	3,852	190	1,275	4,202	3,836	566	2,633	4,708	6,791	8,885
Intangible Assets	8,071	25,217	42,362	56,329	67,619	1,196	1,849	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	17,067	30,977	43,986	59,291	71,471	1,386	3,124	4,202	3,836	566	2,633	4,708	6,791	8,885
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	64,266	118,280	33,549	52,920	67,842	35,489	0	79,436	0	0	0	0	0	0
Group Debtors	98,428	84,485	75,641	148,117	0	148,117	0	0	0	0	0	0	0	0
Misc Debtors	9,068	7,569	13,392	8,868	0	7,736	0	0	0	0	0	0	0	0
Cash	83,615	43,678	14,077	26,540	83,928	47,556	153,763	0	38,254	53,613	21,436	16,173	7,913	5,080
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	255,377	254,012	136,659	236,445	311,580	238,898	153,763	79,436	38,254	53,613	21,436	16,173	7,913	5,080
total assets	272,444	284,989	180,645	295,736	383,051	240,284	156,887	83,638	42,090	54,179	24,069	20,881	14,704	13,965
Bank overdraft	10,293	10,117	9,945	6,579	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	23,872	18,697	16,833	38,621	151,590	57,360	36,963	21,822	12,082	34,687	5,244	3,311	3,978	1,011
Group/Directors Accounts	0	0	0	82,288	0	50,622	0	0	0	0	0	0	0	0
other short term finances	0	0	0	0	127,732	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	0
other current liabilities	44,589	86,586	45,965	61,653	0	16,927	21,934	0	0	0	0	0	0	0
total current liabilities	78,754	115,400	72,743	189,141	327,680	124,909	58,897	21,822	12,082	34,687	5,244	3,311	3,978	1,011
loans	14,658	24,723	34,542	45,248	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	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	0	0	24,188	35,301	32,460	27,438
provisions	2,249	406	563	563	0	263	0	0	767	0	0	0	0	0
total long term liabilities	16,907	25,129	35,105	45,811	732	263	0	0	767	0	24,188	35,301	32,460	27,438
total liabilities	95,661	140,529	107,848	234,952	328,412	125,172	58,897	21,822	12,849	34,687	29,432	38,612	36,438	28,449
net assets	176,783	144,460	72,797	60,784	54,639	115,112	97,990	61,816	29,241	19,492	-5,363	-17,731	-21,734	-14,484
total shareholders funds	176,783	144,460	72,797	60,784	54,639	115,112	97,990	61,816	29,241	19,492	-5,363	-17,731	-21,734	-14,484

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010
Operating Activities
Operating Profit	43,204	91,230	17,790	13,008	-56,655	20,383	31,929	53,171	11,957	31,274	15,968	5,207	-7,282	-24,497
Depreciation	2,746	1,013	2,593	2,029	1,903	310	0	0	669	2,067	2,075	2,083	2,094	1,596
Amortisation	17,146	17,145	24,129	16,798	0	653	0	0	0	0	0	0	0	0
Tax	-10,774	-16,810	-2,818	-1,441	0	-4,016	-6,140	-10,644	-2,437	-6,607	-3,694	-1,264	0	0
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	-38,572	87,752	-87,323	142,063	-123,500	191,342	-79,436	79,436	0	0	0	0	0	0
Creditors	5,175	1,864	-21,788	-112,969	94,230	20,397	15,141	9,740	-22,605	29,443	1,933	-667	2,967	1,011
Accruals and Deferred Income	-41,997	40,621	-15,688	61,653	-16,927	-5,007	21,934	0	0	0	0	0	0	0
Deferred Taxes & Provisions	1,843	-157	0	563	-263	263	0	-767	767	0	0	0	0	0
Cash flow from operations	55,915	47,154	91,541	-162,422	145,788	-158,359	142,300	-27,936	-11,649	56,177	16,282	5,359	-2,221	-21,890
Investing Activities
capital expenditure	-5,982	-5,149	-11,417	-6,647	-71,988	775	1,078	-366	-3,939	0	0	0	0	-10,481
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-5,982	-5,149	-11,417	-6,647	-71,988	775	1,078	-366	-3,939	0	0	0	0	-10,481
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	-82,288	82,288	-50,622	50,622	0	0	0	0	0	0	0	0
Other Short Term Loans	0	0	0	-127,732	127,732	0	0	0	0	0	0	0	0	0
Long term loans	-10,065	-9,819	-10,706	45,248	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	0
other long term liabilities	0	0	0	0	0	0	0	0	0	-24,188	-11,113	2,841	5,022	27,438
share issue	0	0	0	0	0	0	10,000	-10,000	0	0	0	0	0	10,000
interest	-107	-2,757	-2,959	-5,422	-3,818	755	384	48	230	188	94	60	32	13
cash flow from financing	-10,172	-12,576	-95,953	-5,618	73,292	51,377	10,384	-9,952	230	-24,000	-11,019	2,901	5,054	37,451
cash and cash equivalents
cash	39,937	29,601	-12,463	-57,388	36,372	-106,207	153,763	-38,254	-15,359	32,177	5,263	8,260	2,833	5,080
overdraft	176	172	3,366	6,579	0	0	0	0	0	0	0	0	0	0
change in cash	39,761	29,429	-15,829	-63,967	36,372	-106,207	153,763	-38,254	-15,359	32,177	5,263	8,260	2,833	5,080

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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Perform a competitor analysis for practice cover ltd by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other micro companies, companies in N13 area or any other competitors across 12 key performance metrics.

PRACTICE COVER LTD group structure

Practice Cover Ltd has no subsidiary companies.

Ultimate parent company

TEDAISY INSURANCE GROUP LTD

09422448

1 parent

PRACTICE COVER LTD

07063423

PRACTICE COVER LTD Shareholders

natasha hardy

100%

Practice Cover Ltd currently has 1 director, Mrs Natasha Hardy serving since Mar 2021.

officer	country	age	start	end	role
Mrs Natasha Hardy	England	33 years	Mar 2021	-	Director

P&L

December 2023

turnover

286.6k

operating profit

43.2k

gross margin

99.4%

+1.34%

turnover

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

Balance Sheet

December 2023

net assets

176.8k

+0.22%

total assets

272.4k

-0.04%

cash

83.6k

+0.91%

net assets

Total assets minus all liabilities

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company number

07063423

Type

Private limited with Share Capital

industry

65120 - Non-life insurance

incorporation date

November 2009

ultimate parent company

TEDAISY INSURANCE GROUP LTD

previous names

N/A

address

255 green lanes, london, N13 4XE

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 1 charges/mortgages relating to practice cover ltd. Currently there are 0 open charges and 1 have been satisfied in the past.

practice cover ltd Company Information

practice cover ltd Estimated Valuation

practice cover ltd Estimated Valuation

practice cover ltd Estimated Valuation

Practice Cover Ltd Overview

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PRACTICE COVER LTD financials

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