Drive2recruit Limited

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drive2recruit limited Company Information

Live

EstablishedSmallDeclining

Company Number

07153820

Website

www.drive2recruit.co.uk

Registered Address

8 kingsway house, kingsway team valley trading est, gateshead, tyne and wear, NE11 0HW

Industry

Temporary employment agency activities

Telephone

01914878080

Next Accounts Due

November 2024

Group Structure

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Directors

Claire Harrison14 Years

Paula Spedding14 Years

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Shareholders

hazel lesley donaldson 33.3%

paula anne spedding 33.3%

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drive2recruit limited Estimated Valuation

£281.6k

Pomanda estimates the enterprise value of DRIVE2RECRUIT LIMITED at £281.6k based on a Turnover of £1.8m and 0.15x industry multiple (adjusted for size and gross margin).

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Drive2recruit Limited is a live company located in gateshead, NE11 0HW with a Companies House number of 07153820. It operates in the temporary employment agency activities sector, SIC Code 78200. Founded in February 2010, it's largest shareholder is hazel lesley donaldson with a 33.3% stake. Drive2recruit Limited is a established, small sized company, Pomanda has estimated its turnover at £1.8m with declining growth in recent years.

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Pomanda's financial health check has awarded Drive2Recruit Limited a 2 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 Rating2out of 5

2 Strong

2 Regular

7 Weak

Size

annual sales of £1.8m, make it smaller than the average company (£12.9m)

Growth

3 year (CAGR) sales growth of -11%, show it is growing at a slower rate (2.9%)

EXPORT

Drive2Recruit Limited's latest turnover from February 2023 is estimated at £1.8 million and the company has net assets of £127. According to their latest financial statements, Drive2Recruit Limited has 27 employees and maintains cash reserves of £18.4 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017	Feb 2016	Feb 2015	Feb 2014	Feb 2013	Feb 2012	Feb 2011
Turnover	1,833,533	2,527,684	2,304,618	2,564,222	3,785,636	4,157,248	1,917,877	1,008,048	880,582	698,189	587,634	272,299	143,194
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,507,360	2,118,831	1,955,990	2,136,983	3,140,015	3,432,735	1,593,013	831,635	726,569	571,842	484,197	224,253	116,134
Gross Profit	326,173	408,852	348,628	427,239	645,621	724,512	324,863	176,413	154,014	126,347	103,437	48,046	27,060
Admin Expenses	324,713	404,286	346,037	426,921	645,658	725,554	323,601	175,859	154,099	126,254	100,661	47,359	29,058
Operating Profit	1,460	4,566	2,591	318	-37	-1,042	1,262	554	-85	93	2,776	687	-1,998
Interest Payable	4,371	3,198	2,396	893	0	0	0	0	0	0	0	292	292
Interest Receivable	1,391	309	43	54	0	0	0	7	17	10	8	8	0
Pre-Tax Profit	-1,520	1,677	238	-521	-37	-1,042	1,263	561	-69	104	2,784	403	-2,290
Tax	0	-319	-45	0	0	0	-252	-112	0	-24	-668	-105	0
Profit After Tax	-1,520	1,358	193	-521	-37	-1,042	1,010	449	-69	80	2,116	298	-2,290
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-1,520	1,358	193	-521	-37	-1,042	1,010	449	-69	80	2,116	298	-2,290
Employee Costs	1,317,328	1,490,088	1,414,991	1,485,504	1,313,466	1,243,039	310,978	155,532	113,591	113,709	112,746	36,954	35,839
Number Of Employees	27	33	34	36	34	32	8	4	3	3	3	1	1
EBITDA*	1,715	4,866	2,944	318	-37	-1,042	1,262	1,130	345	1,019	3,702	1,613	-1,072

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017	Feb 2016	Feb 2015	Feb 2014	Feb 2013	Feb 2012	Feb 2011
Tangible Assets	1,443	1,698	1,998	1,704	2,004	2,358	2,774	3,264	2,439	426	1,352	2,278	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	3,204
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	1,443	1,698	1,998	1,704	2,004	2,358	2,774	3,264	2,439	426	1,352	2,278	3,204
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	66,866	130,790	88,124	114,412	125,672	164,643	102,684	62,402	50,238	37,352	33,137	10,533	11,112
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	49,322	24,457	33,482	51,846	0	0	0	0	0	0	0	0	0
Cash	18,434	51,138	72,375	14,433	0	0	0	65	2,736	3,862	330	3,043	0
misc current assets	0	0	0	0	0	0	128	0	0	0	0	0	0
total current assets	134,622	206,385	193,981	180,691	125,672	164,643	102,812	62,467	52,974	41,214	33,467	13,576	11,112
total assets	136,065	208,083	195,979	182,395	127,676	167,001	105,586	65,731	55,413	41,640	34,819	15,854	14,316
Bank overdraft	5,241	5,148	7,906	5,448	0	0	0	0	0	0	0	0	8,989
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	149	124	2,202	150	101,096	155,154	91,011	52,042	45,910	40,173	34,595	17,746	7,517
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	94,378	159,704	140,984	155,701	0	0	0	0	0	0	0	0	0
total current liabilities	99,768	164,976	151,092	161,299	101,096	155,154	91,011	52,042	45,910	40,173	34,595	17,746	16,506
loans	35,896	41,137	44,218	21,000	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	2,906	2,397	1,907	0	0	0	0	0	0
other liabilities	0	0	0	0	23,159	8,898	11,074	13,005	9,268	1,163	0	0	0
provisions	274	323	380	0	0	0	0	0	0	0	0	0	0
total long term liabilities	36,170	41,460	44,598	21,000	26,065	11,295	12,981	13,005	9,268	1,163	0	0	0
total liabilities	135,938	206,436	195,690	182,299	127,161	166,449	103,992	65,047	55,178	41,336	34,595	17,746	16,506
net assets	127	1,647	289	96	515	552	1,594	684	235	304	224	-1,892	-2,190
total shareholders funds	127	1,647	289	96	515	552	1,594	684	235	304	224	-1,892	-2,190

	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017	Feb 2016	Feb 2015	Feb 2014	Feb 2013	Feb 2012	Feb 2011
Operating Activities
Operating Profit	1,460	4,566	2,591	318	-37	-1,042	1,262	554	-85	93	2,776	687	-1,998
Depreciation	255	300	353	0	0	0	0	576	430	926	926	926	0
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	926
Tax	0	-319	-45	0	0	0	-252	-112	0	-24	-668	-105	0
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	-39,059	33,641	-44,652	40,586	-38,971	61,959	40,282	12,164	12,886	4,215	22,604	-579	11,112
Creditors	25	-2,078	2,052	-100,946	-54,058	64,143	38,969	6,132	5,737	5,578	16,849	10,229	7,517
Accruals and Deferred Income	-65,326	18,720	-14,717	152,795	509	490	1,907	0	0	0	0	0	0
Deferred Taxes & Provisions	-49	-57	380	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	-24,576	-12,509	35,266	11,581	-14,615	1,632	1,604	-5,014	-6,804	2,358	-2,721	12,316	-4,667
Investing Activities
capital expenditure	0	0	-647	300	354	416	490	-1,401	-2,443	0	0	0	-4,130
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	0	0	-647	300	354	416	490	-1,401	-2,443	0	0	0	-4,130
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	-5,241	-3,081	23,218	21,000	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	0	0	0	-23,159	14,261	-2,176	-1,931	3,737	8,105	1,163	0	0	0
share issue	0	0	0	102	0	0	-100	0	0	0	0	0	100
interest	-2,980	-2,889	-2,353	-839	0	0	0	7	17	10	8	-284	-292
cash flow from financing	-8,221	-5,970	20,865	-2,896	14,261	-2,176	-2,031	3,744	8,122	1,173	8	-284	-192
cash and cash equivalents
cash	-32,704	-21,237	57,942	14,433	0	0	-65	-2,671	-1,126	3,532	-2,713	3,043	0
overdraft	93	-2,758	2,458	5,448	0	0	0	0	0	0	0	-8,989	8,989
change in cash	-32,797	-18,479	55,484	8,985	0	0	-65	-2,671	-1,126	3,532	-2,713	12,032	-8,989

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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DRIVE2RECRUIT LIMITED group structure

Drive2Recruit Limited has no subsidiary companies.

Ultimate parent company

DRIVE2RECRUIT LIMITED

07153820

DRIVE2RECRUIT LIMITED Shareholders

hazel lesley donaldson	33.33%
paula anne spedding	33.33%
claire louise harrison	33.33%

Drive2Recruit Limited currently has 3 directors. The longest serving directors include Miss Claire Harrison (Feb 2010) and Ms Paula Spedding (Feb 2010).

officer	country	age	start	end	role
Miss Claire Harrison		44 years	Feb 2010	-	Director
Ms Paula Spedding	England	60 years	Feb 2010	-	Director
Ms Hazel Donaldson	England	54 years	Feb 2010	-	Director

P&L

February 2023

turnover

1.8m

-27%

operating profit

1.5k

gross margin

17.8%

+9.98%

turnover

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

Balance Sheet

February 2023

net assets

127

-0.92%

total assets

136.1k

-0.35%

cash

18.4k

-0.64%

net assets

Total assets minus all liabilities

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company number

07153820

Type

Private limited with Share Capital

industry

78200 - Temporary employment agency activities

incorporation date

February 2010

age

accounts

Total Exemption Full

ultimate parent company

None

previous names

N/A

incorporated

address

8 kingsway house, kingsway team valley trading est, gateshead, tyne and wear, NE11 0HW

last accounts submitted

February 2023

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 drive2recruit limited. Currently there are 2 open charges and 0 have been satisfied in the past.

drive2recruit limited Company Information

drive2recruit limited Estimated Valuation

drive2recruit limited Estimated Valuation

drive2recruit limited Estimated Valuation

Drive2recruit Limited Overview

Drive2recruit Limited Health Check

DRIVE2RECRUIT LIMITED financials

drive2recruit limited Credit Report and Business Information

Drive2recruit Limited Competitor Analysis

drive2recruit limited Ownership

drive2recruit limited directors

drive2recruit limited company details

drive2recruit limited Charges & Mortgages

drive2recruit limited Companies House Filings - See Documents