Initial Recruitment Services Ltd

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initial recruitment services ltd Company Information

Live

EstablishedMidLow

Company Number

07071279

Website

www.initialrecruitmentservices.co.uk

Registered Address

1 & 2 highnam business centre, newent road, gloucester, gloucestershire, GL2 8DN

Industry

Temporary employment agency activities

Telephone

01452740001

Next Accounts Due

December 2024

Group Structure

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Directors

Joe Goatley14 Years

Shareholders

joseph goatley 79.4%

gemma goatley 19.8%

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initial recruitment services ltd Estimated Valuation

£1m

Pomanda estimates the enterprise value of INITIAL RECRUITMENT SERVICES LTD at £1m based on a Turnover of £6.7m and 0.15x industry multiple (adjusted for size and gross margin).

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Initial Recruitment Services Ltd is a live company located in gloucester, GL2 8DN with a Companies House number of 07071279. It operates in the temporary employment agency activities sector, SIC Code 78200. Founded in November 2009, it's largest shareholder is joseph goatley with a 79.4% stake. Initial Recruitment Services Ltd is a established, mid sized company, Pomanda has estimated its turnover at £6.7m with low growth in recent years.

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Pomanda's financial health check has awarded Initial Recruitment Services Ltd a 2.5 rating. We use a traffic light system to show it exceeds the industry average on 2 measures and has 7 areas for improvement. Company Health Check FAQs

Health Rating2.5out of 5

2 Strong

3 Regular

7 Weak

Size

annual sales of £6.7m, make it smaller than the average company (£13.1m)

Growth

3 year (CAGR) sales growth of 3%, show it is growing at a similar rate (3.6%)

EXPORT

Initial Recruitment Services Ltd's latest turnover from March 2023 is estimated at £6.7 million and the company has net assets of £4.2 thousand. According to their latest financial statements, Initial Recruitment Services Ltd has 12 employees and maintains cash reserves of £67.5 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011
Turnover	6,726,748	6,731,825	7,075,749	6,085,040	7,428,406	7,876,578	6,053,261	6,266,009	8,202,747	4,270,793	3,913,218	1,360,561	1,055,192
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	5,984,416	6,059,972	6,404,816	5,428,675	6,612,688	6,988,686	5,376,536	5,562,882	7,249,640	3,749,757	3,442,924	1,188,276	919,240
Gross Profit	742,332	671,854	670,933	656,365	815,717	887,892	676,725	703,127	953,106	521,036	470,294	172,285	135,952
Admin Expenses	744,724	671,293	671,717	655,643	837,184	907,792	626,119	755,629	1,015,102	486,844	368,377	185,749	101,539
Operating Profit	-2,392	561	-784	722	-21,467	-19,900	50,606	-52,502	-61,996	34,192	101,917	-13,464	34,413
Interest Payable	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	1,751	357	66	26	25	22	30	177	175	56	7	18	14
Pre-Tax Profit	-641	919	-718	748	-21,442	-19,878	50,636	-52,325	-61,821	34,248	101,924	-13,446	34,426
Tax	0	-175	0	-142	0	0	-10,127	0	0	-7,877	-24,462	0	-9,639
Profit After Tax	-641	744	-718	606	-21,442	-19,878	40,509	-52,325	-61,821	26,371	77,462	-13,446	24,787
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-641	744	-718	606	-21,442	-19,878	40,509	-52,325	-61,821	26,371	77,462	-13,446	24,787
Employee Costs	580,615	517,792	477,786	476,805	458,000	574,236	377,366	378,648	560,430	337,308	297,125	109,281	105,919
Number Of Employees	12	12	12	12	12	15	10	10	15	9	8	3	3
EBITDA*	5,351	10,221	2,431	3,703	-21,467	-15,518	55,529	-42,578	-44,295	48,181	110,049	-8,518	35,837

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011
Tangible Assets	23,231	28,982	9,644	8,944	10,609	13,145	14,769	29,776	34,892	34,033	41,456	14,281	17,391
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	23,231	28,982	9,644	8,944	10,609	13,145	14,769	29,776	34,892	34,033	41,456	14,281	17,391
Stock & work in progress	247,176	217,795	207,379	142,478	121,657	79,331	0	0	0	0	0	0	0
Trade Debtors	882,431	850,473	801,976	722,800	951,095	883,569	939,134	1,009,289	1,120,373	584,655	549,828	178,376	126,247
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	35,998
Cash	67,521	14,860	80,365	51,323	0	6,752	1,915	22,189	48,455	21,472	835	1,783	5,419
misc current assets	0	0	0	0	0	0	0	0	81,304	77,210	0	0	0
total current assets	1,197,128	1,083,128	1,089,720	916,601	1,072,752	969,652	941,049	1,031,478	1,250,132	683,337	550,663	180,159	167,664
total assets	1,220,359	1,112,110	1,099,364	925,545	1,083,361	982,797	955,818	1,061,254	1,285,024	717,370	592,119	194,440	185,055
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	1,200,240	973,586	1,095,309	920,772	1,079,194	957,188	910,381	952,016	1,019,529	512,989	473,149	173,223	148,008
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	1,200,240	973,586	1,095,309	920,772	1,079,194	957,188	910,381	952,016	1,019,529	512,989	473,149	173,223	148,008
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	63,564	63,564	0	0	0
other liabilities	15,961	133,725	0	0	0	0	0	101,333	141,701	18,691	23,215	8,581	10,771
provisions	0	0	0	0	0	0	0	2,977	2,977	2,977	2,977	1,145	1,339
total long term liabilities	15,961	133,725	0	0	0	0	0	104,310	208,242	85,232	26,192	9,726	12,110
total liabilities	1,216,201	1,107,311	1,095,309	920,772	1,079,194	957,188	910,381	1,056,326	1,227,771	598,221	499,341	182,949	160,118
net assets	4,158	4,799	4,055	4,773	4,167	25,609	45,437	4,928	57,253	119,149	92,778	11,491	24,937
total shareholders funds	4,158	4,799	4,055	4,773	4,167	25,609	45,437	4,928	57,253	119,149	92,778	11,491	24,937

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011
Operating Activities
Operating Profit	-2,392	561	-784	722	-21,467	-19,900	50,606	-52,502	-61,996	34,192	101,917	-13,464	34,413
Depreciation	7,743	9,660	3,215	2,981	0	4,382	4,923	9,924	17,701	13,989	8,132	4,946	1,424
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	0	-175	0	-142	0	0	-10,127	0	0	-7,877	-24,462	0	-9,639
Stock	29,381	10,416	64,901	20,821	42,326	79,331	0	0	0	0	0	0	0
Debtors	31,958	48,497	79,176	-228,295	67,526	-55,565	-70,155	-111,084	535,718	34,827	371,452	16,131	162,245
Creditors	226,654	-121,723	174,537	-158,422	122,006	46,807	-41,635	-67,513	506,540	39,840	299,926	25,215	148,008
Accruals and Deferred Income	0	0	0	0	0	0	0	-63,564	0	63,564	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	0	-2,977	0	0	0	1,832	-194	1,339
Cash flow from operations	170,666	-170,590	32,891	52,613	-9,313	7,523	70,945	-62,571	-73,473	108,881	15,893	372	13,300
Investing Activities
capital expenditure	-1,992	-28,998	-3,915	-1,316	2,536	-2,758	10,084	-4,808	-18,560	-6,566	-35,307	-1,836	-18,815
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-1,992	-28,998	-3,915	-1,316	2,536	-2,758	10,084	-4,808	-18,560	-6,566	-35,307	-1,836	-18,815
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	-117,764	133,725	0	0	0	0	-101,333	-40,368	123,010	-4,524	14,634	-2,190	10,771
share issue	0	0	0	0	0	50	0	0	-75	0	3,825	0	150
interest	1,751	357	66	26	25	22	30	177	175	56	7	18	14
cash flow from financing	-116,013	134,082	66	26	25	72	-101,303	-40,191	123,110	-4,468	18,466	-2,172	10,935
cash and cash equivalents
cash	52,661	-65,505	29,042	51,323	-6,752	4,837	-20,274	-26,266	26,983	20,637	-948	-3,636	5,419
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	52,661	-65,505	29,042	51,323	-6,752	4,837	-20,274	-26,266	26,983	20,637	-948	-3,636	5,419

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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INITIAL RECRUITMENT SERVICES LTD group structure

Initial Recruitment Services Ltd has no subsidiary companies.

Ultimate parent company

INITIAL RECRUITMENT SERVICES LTD

07071279

INITIAL RECRUITMENT SERVICES LTD Shareholders

joseph goatley	79.37%
gemma goatley	19.84%
rebekah goatley	0.79%

Initial Recruitment Services Ltd currently has 1 director, Mr Joe Goatley serving since Apr 2010.

officer	country	age	start	end	role
Mr Joe Goatley	England	44 years	Apr 2010	-	Director

P&L

March 2023

turnover

6.7m

operating profit

-2.4k

gross margin

11.1%

+10.57%

turnover

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

Balance Sheet

March 2023

net assets

4.2k

-0.13%

total assets

1.2m

+0.1%

cash

67.5k

+3.54%

net assets

Total assets minus all liabilities

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company number

07071279

Type

Private limited with Share Capital

industry

78200 - Temporary employment agency activities

incorporation date

November 2009

ultimate parent company

None

previous names

N/A

address

1 & 2 highnam business centre, newent road, gloucester, gloucestershire, GL2 8DN

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 4 charges/mortgages relating to initial recruitment services ltd. Currently there are 3 open charges and 1 have been satisfied in the past.

initial recruitment services ltd Company Information

initial recruitment services ltd Estimated Valuation

initial recruitment services ltd Estimated Valuation

initial recruitment services ltd Estimated Valuation

Initial Recruitment Services Ltd Overview

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INITIAL RECRUITMENT SERVICES LTD financials

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