Midland Accountants Ltd

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midland accountants ltd Company Information

Company Number

07177308

Next Accounts

34 days late

Directors

Imtiaz Ilahi

Mohamed Visram

Shareholders

imtiaz ilahi

mohamed visram

Group Structure

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Industry

Accounting, and auditing activities

Registered Address

1st floor, 91-92 charles henry street, birmingham, west midlands, B12 0SJ

Website

www.midlandaccountants.co.uk

midland accountants ltd Estimated Valuation

£99.7k

Pomanda estimates the enterprise value of MIDLAND ACCOUNTANTS LTD at £99.7k based on Net Assets of £32.7k and 3.05x industry multiple (adjusted for liquidity).

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Midland Accountants Ltd is a live company located in birmingham, B12 0SJ with a Companies House number of 07177308. It operates in the accounting and auditing activities sector, SIC Code 69201. Founded in March 2010, it's largest shareholder is imtiaz ilahi with a 50% stake. Midland Accountants Ltd is a established, micro sized company, Pomanda has estimated its turnover at £82.7k with declining growth in recent years.

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Pomanda's financial health check has awarded Midland Accountants Ltd a 2.5 rating. We use a traffic light system to show it exceeds the industry average on 2 measures and has 6 areas for improvement. Company Health Check FAQs

Health Rating2.5out of 5

2 Strong

2 Regular

6 Weak

Size

annual sales of £82.7k, make it smaller than the average company (£213.2k)

Growth

3 year (CAGR) sales growth of -23%, show it is growing at a slower rate (6.3%)

EXPORT

Midland Accountants Ltd's latest turnover from March 2023 is estimated at £82.7 thousand and the company has net assets of £32.7 thousand. According to their latest financial statements, Midland Accountants Ltd has 1 employee and maintains cash reserves of 0 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	82,711	250,327	208,916	184,639	121,559	162,048	183,793	36,714	22,476	21,825	41,843	42,809	62,028
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	40,537	121,345	95,563	81,095	50,623	59,650	67,239	16,932	9,000	7,523	14,965	15,800	21,585
Gross Profit	42,174	128,982	113,353	103,543	70,936	102,398	116,554	19,782	13,476	14,302	26,879	27,009	40,444
Admin Expenses	39,705	118,180	99,697	107,844	79,653	87,408	114,415	26,036	7,187	8,072	22,759	23,706	40,137
Operating Profit	2,469	10,802	13,656	-4,301	-8,717	14,990	2,139	-6,254	6,289	6,230	4,120	3,303	307
Interest Payable	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	0	0	0	0	0	0	43	214	226	156	113	98	42
Pre-Tax Profit	2,469	10,802	13,656	-4,301	-8,717	14,990	2,183	-6,040	6,515	6,386	4,233	3,400	349
Tax	-469	-2,052	-2,595	0	0	-2,848	-436	0	-1,368	-1,469	-1,016	-884	-98
Profit After Tax	2,000	8,750	11,061	-4,301	-8,717	12,142	1,746	-6,040	5,147	4,917	3,217	2,516	251
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	2,000	8,750	11,061	-4,301	-8,717	12,142	1,746	-6,040	5,147	4,917	3,217	2,516	251
Employee Costs	33,263	122,128	105,952	140,000	66,038	56,143	57,878	27,351	27,476	29,226	27,907	25,933	25,824
Number Of Employees	1	4	4	5	2	2	2	1	1	1	1	1	1
EBITDA*	2,469	10,802	13,656	-4,301	-8,717	14,990	2,139	-5,754	6,644	6,661	4,580	3,747	862

* 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	0	4,219	3,109	1,083	1,274	1,498	1,158	1,362	2,014	2,369	2,876	3,065	2,956
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	0	4,219	3,109	1,083	1,274	1,498	1,158	1,362	2,014	2,369	2,876	3,065	2,956
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	44,695	139,605	109,288	73,575	56,198	70,349	68,326	11,920	6,165	5,632	10,248	10,073	14,338
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	0	0	0	0	0	0	0	34,621	50,984	39,506	22,968	22,152	16,846
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	44,695	139,605	109,288	73,575	56,198	70,349	68,326	46,541	57,149	45,138	33,216	32,225	31,184
total assets	44,695	143,824	112,397	74,658	57,472	71,847	69,484	47,903	59,163	47,507	36,092	35,290	34,140
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	12,006	113,135	90,458	63,780	42,293	47,951	57,730	37,894	43,114	36,605	30,107	32,522	33,888
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	12,006	113,135	90,458	63,780	42,293	47,951	57,730	37,894	43,114	36,605	30,107	32,522	33,888
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	0	0	0	0	0	0	0	0	0	0	0	0	0
provisions	0	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0
total liabilities	12,006	113,135	90,458	63,780	42,293	47,951	57,730	37,894	43,114	36,605	30,107	32,522	33,888
net assets	32,689	30,689	21,939	10,878	15,179	23,896	11,754	10,009	16,049	10,902	5,985	2,768	252
total shareholders funds	32,689	30,689	21,939	10,878	15,179	23,896	11,754	10,009	16,049	10,902	5,985	2,768	252

	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	2,469	10,802	13,656	-4,301	-8,717	14,990	2,139	-6,254	6,289	6,230	4,120	3,303	307
Depreciation	0	0	0	0	0	0	0	500	355	431	460	444	555
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-469	-2,052	-2,595	0	0	-2,848	-436	0	-1,368	-1,469	-1,016	-884	-98
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	-94,910	30,317	35,713	17,377	-14,151	2,023	56,406	5,755	533	-4,616	175	-4,265	14,338
Creditors	-101,129	22,677	26,678	21,487	-5,658	-9,779	19,836	-5,220	6,509	6,498	-2,415	-1,366	33,888
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	-4,219	1,110	2,026	-191	-224	340	-34,867	-16,729	11,252	16,306	974	5,762	20,314
Investing Activities
capital expenditure	4,219	-1,110	-2,026	191	224	-340	204	152	0	76	-271	-553	-3,511
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	4,219	-1,110	-2,026	191	224	-340	204	152	0	76	-271	-553	-3,511
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	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	0	0	0	0	0	0	-1	0	0	0	0	0	1
interest	0	0	0	0	0	0	43	214	226	156	113	98	42
cash flow from financing	0	0	0	0	0	0	42	214	226	156	113	98	43
cash and cash equivalents
cash	0	0	0	0	0	0	-34,621	-16,363	11,478	16,538	816	5,306	16,846
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	0	0	0	0	0	0	-34,621	-16,363	11,478	16,538	816	5,306	16,846

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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MIDLAND ACCOUNTANTS LTD group structure

Midland Accountants Ltd has no subsidiary companies.

Ultimate parent company

MIDLAND ACCOUNTANTS LTD

07177308

MIDLAND ACCOUNTANTS LTD Shareholders

imtiaz ilahi	50%
mohamed visram	50%

Midland Accountants Ltd currently has 2 directors. The longest serving directors include Mr Imtiaz Ilahi (Mar 2010) and Mr Mohamed Visram (Feb 2022).

officer	country	age	start	end	role
Mr Imtiaz Ilahi		55 years	Mar 2010	-	Director
Mr Mohamed Visram	England	43 years	Feb 2022	-	Director

P&L

March 2023

turnover

82.7k

-67%

operating profit

2.5k

gross margin

51%

-1.04%

turnover

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

Balance Sheet

March 2023

net assets

32.7k

+0.07%

total assets

44.7k

-0.69%

cash

net assets

Total assets minus all liabilities

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company number

07177308

Type

Private limited with Share Capital

industry

69201 - Accounting, and auditing activities

incorporation date

March 2010

ultimate parent company

None

previous names

N/A

address

1st floor, 91-92 charles henry street, birmingham, west midlands, B12 0SJ

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.

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midland accountants ltd Company Information

midland accountants ltd Estimated Valuation

midland accountants ltd Estimated Valuation

midland accountants ltd Estimated Valuation

Midland Accountants Ltd Overview

Midland Accountants Ltd Health Check

MIDLAND ACCOUNTANTS LTD financials

midland accountants ltd Credit Report and Business Information

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