Mitchams Accountants Limited

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mitchams accountants limited Company Information

Live

EstablishedSmallLow

Company Number

07389098

Website

www.mitchams.co.uk

Registered Address

1 cornhill, ilminster, somerset, TA19 0AD

Industry

Accounting, and auditing activities

Telephone

0146052202

Next Accounts Due

December 2024

Group Structure

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Directors

Lorna Cox14 Years

Timothy MacLellan14 Years

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Shareholders

timothy ian maclellan 50.6%

lorna elizabeth cox 24.7%

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mitchams accountants limited Estimated Valuation

£629.4k

Pomanda estimates the enterprise value of MITCHAMS ACCOUNTANTS LIMITED at £629.4k based on a Turnover of £776.6k and 0.81x industry multiple (adjusted for size and gross margin).

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Mitchams Accountants Limited is a live company located in somerset, TA19 0AD with a Companies House number of 07389098. It operates in the accounting and auditing activities sector, SIC Code 69201. Founded in September 2010, it's largest shareholder is timothy ian maclellan with a 50.6% stake. Mitchams Accountants Limited is a established, small sized company, Pomanda has estimated its turnover at £776.6k with low growth in recent years.

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

2 Strong

4 Regular

6 Weak

Size

annual sales of £776.6k, make it larger than the average company (£140.8k)

Growth

3 year (CAGR) sales growth of 3%, show it is growing at a slower rate (5.8%)

EXPORT

Mitchams Accountants Limited's latest turnover from March 2023 is estimated at £776.6 thousand and the company has net assets of £146.1 thousand. According to their latest financial statements, Mitchams Accountants Limited has 15 employees and maintains cash reserves of £235 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
Turnover	776,587	834,476	747,803	702,598	709,468	874,138	670,532	1,025,596	1,072,995	1,174,326	1,933,101	1,419,894
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	244,865	289,990	251,963	118,889	90,679	65,178	39,775	78,090	97,305	96,834	231,244	159,967
Gross Profit	531,722	544,486	495,840	583,709	618,789	808,961	630,756	947,507	975,691	1,077,491	1,701,858	1,259,927
Admin Expenses	813,704	507,670	497,227	525,470	594,093	770,509	533,291	1,049,171	900,715	995,768	1,572,802	1,073,842
Operating Profit	-281,982	36,816	-1,387	58,239	24,696	38,452	97,465	-101,664	74,976	81,723	129,056	186,085
Interest Payable	11,190	3,263	2,175	1,930	3,506	4,660	7,708	6,580	3,371	5,247	7,198	4,113
Interest Receivable	10,322	2,035	258	234	1,722	1,186	591	899	650	829	864	320
Pre-Tax Profit	-282,849	35,588	-3,305	56,543	22,912	34,978	90,348	-107,345	72,254	77,305	122,722	182,292
Tax	0	-6,762	0	-10,743	-4,353	-6,646	-18,069	0	-15,173	-17,780	-29,453	-47,396
Profit After Tax	-282,849	28,826	-3,305	45,800	18,559	28,332	72,278	-107,345	57,081	59,525	93,269	134,896
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-282,849	28,826	-3,305	45,800	18,559	28,332	72,278	-107,345	57,081	59,525	93,269	134,896
Employee Costs	309,571	295,489	304,691	258,056	339,341	312,011	350,800	469,017	478,120	597,405	957,842	700,023
Number Of Employees	15	14	15	15	15	14	14	17	17	20	34	26
EBITDA*	-276,535	41,810	5,786	67,515	29,097	43,615	103,432	56,542	233,339	241,985	284,451	340,181

* 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
Tangible Assets	16,342	14,983	21,518	27,827	13,202	15,488	17,901	21,014	21,483	27,178	12,579	8,680
Intangible Assets	0	0	0	0	0	0	0	0	151,202	302,404	453,606	604,808
Investments & Other	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
Total Fixed Assets	16,342	14,983	21,518	27,827	13,202	15,488	17,901	21,014	172,685	329,582	466,185	613,488
Stock & work in progress	212,563	220,920	201,233	268,271	220,097	216,400	249,812	224,713	232,534	229,398	184,895	188,822
Trade Debtors	199,706	243,835	197,184	163,689	169,705	225,342	131,393	169,373	159,627	159,408	268,341	199,595
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	15,416	16,176	11,142	14,411	15,708	13,032	12,424	12,012	0	0	0	0
Cash	235,011	250,741	291,798	223,607	244,192	215,126	259,107	213,467	146,114	113,900	217,816	127,892
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	662,696	731,672	701,357	669,978	649,702	669,900	652,736	619,565	538,275	502,706	671,052	516,309
total assets	679,038	746,655	722,875	697,805	662,904	685,388	670,637	640,579	710,960	832,288	1,137,237	1,129,797
Bank overdraft	37,000	10,000	3,333	0	0	0	20,359	31,641	0	0	0	0
Bank loan	0	0	0	21,319	20,974	20,648	0	0	0	0	0	0
Trade Creditors	6,647	5,460	3,575	1,768	2,286	5,640	8,642	2,546	201,405	350,522	686,588	740,776
Group/Directors Accounts	0	0	0	0	0	0	0	104,820	0	0	0	0
other short term finances	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
other current liabilities	350,571	261,866	265,122	266,036	258,832	276,136	266,453	125,355	0	0	0	0
total current liabilities	394,218	277,326	272,030	289,123	282,092	302,424	295,454	264,362	201,405	350,522	686,588	740,776
loans	134,667	36,667	46,667	0	20,973	41,295	61,078	133,588	37,221	66,513	94,921	126,562
hp & lease commitments	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
other liabilities	0	0	0	0	0	0	0	0	126,563	126,563	126,563	126,563
provisions	4,086	3,746	4,088	5,287	2,244	2,633	3,401	4,203	0	0	0	0
total long term liabilities	138,753	40,413	50,755	5,287	23,217	43,928	64,479	137,791	163,784	193,076	221,484	253,125
total liabilities	532,971	317,739	322,785	294,410	305,309	346,352	359,933	402,153	365,189	543,598	908,072	993,901
net assets	146,067	428,916	400,090	403,395	357,595	339,036	310,704	238,426	345,771	288,690	229,165	135,896
total shareholders funds	146,067	428,916	400,090	403,395	357,595	339,036	310,704	238,426	345,771	288,690	229,165	135,896

	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	-281,982	36,816	-1,387	58,239	24,696	38,452	97,465	-101,664	74,976	81,723	129,056	186,085	0
Depreciation	5,447	4,994	7,173	9,276	4,401	5,163	5,967	7,004	7,161	9,060	4,193	2,894	0
Amortisation	0	0	0	0	0	0	0	151,202	151,202	151,202	151,202	151,202	0
Tax	0	-6,762	0	-10,743	-4,353	-6,646	-18,069	0	-15,173	-17,780	-29,453	-47,396	0
Stock	-8,357	19,687	-67,038	48,174	3,697	-33,412	25,099	-7,821	3,136	44,503	-3,927	188,822	0
Debtors	-44,889	51,685	30,226	-7,313	-52,961	94,557	-37,568	21,758	219	-108,933	68,746	199,595	0
Creditors	1,187	1,885	1,807	-518	-3,354	-3,002	6,096	-198,859	-149,117	-336,066	-54,188	740,776	0
Accruals and Deferred Income	88,705	-3,256	-914	7,204	-17,304	9,683	141,098	125,355	0	0	0	0	0
Deferred Taxes & Provisions	340	-342	-1,199	3,043	-389	-768	-802	4,203	0	0	0	0	0
Cash flow from operations	-133,057	-38,037	42,292	25,640	52,961	-18,263	244,224	-26,696	65,694	-47,431	135,991	645,144	0
Investing Activities
capital expenditure	-6,806	1,541	-864	-23,901	-2,115	-2,750	-2,854	-6,535	-1,466	-23,659	-8,092	-767,584	0
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-6,806	1,541	-864	-23,901	-2,115	-2,750	-2,854	-6,535	-1,466	-23,659	-8,092	-767,584	0
Financing Activities
Bank loans	0	0	-21,319	345	326	20,648	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	0	0	0	0	-104,820	104,820	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	98,000	-10,000	46,667	-20,973	-20,322	-19,783	-72,510	96,367	-29,292	-28,408	-31,641	126,562	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	-126,563	0	0	0	126,563	0
share issue	0	0	0	0	0	0	0	0	0	0	0	1,000	0
interest	-868	-1,228	-1,917	-1,696	-1,784	-3,474	-7,117	-5,681	-2,721	-4,418	-6,334	-3,793	0
cash flow from financing	97,132	-11,228	23,431	-22,324	-21,780	-2,609	-184,447	68,943	-32,013	-32,826	-37,975	250,332	0
cash and cash equivalents
cash	-15,730	-41,057	68,191	-20,585	29,066	-43,981	45,640	67,353	32,214	-103,916	89,924	127,892	0
overdraft	27,000	6,667	3,333	0	0	-20,359	-11,282	31,641	0	0	0	0	0
change in cash	-42,730	-47,724	64,858	-20,585	29,066	-23,622	56,922	35,712	32,214	-103,916	89,924	127,892	0

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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MITCHAMS ACCOUNTANTS LIMITED group structure

Mitchams Accountants Limited has no subsidiary companies.

Ultimate parent company

MITCHAMS ACCOUNTANTS LIMITED

07389098

MITCHAMS ACCOUNTANTS LIMITED Shareholders

timothy ian maclellan	50.62%
lorna elizabeth cox	24.69%
anna lorraine whaites	24.69%

Mitchams Accountants Limited currently has 3 directors. The longest serving directors include Mrs Lorna Cox (Sep 2010) and Mr Timothy MacLellan (Sep 2010).

officer	country	age	start	end	role
Mrs Lorna Cox	United Kingdom	47 years	Sep 2010	-	Director
Mr Timothy MacLellan	United Kingdom	47 years	Sep 2010	-	Director
Miss Anna Whaites	United Kingdom	44 years	Sep 2010	-	Director

P&L

March 2023

turnover

776.6k

-7%

operating profit

-282k

gross margin

68.5%

+4.94%

turnover

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

Balance Sheet

March 2023

net assets

146.1k

-0.66%

total assets

679k

-0.09%

cash

235k

-0.06%

net assets

Total assets minus all liabilities

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company number

07389098

Type

Private limited with Share Capital

industry

69201 - Accounting, and auditing activities

incorporation date

September 2010

ultimate parent company

None

previous names

N/A

address

1 cornhill, ilminster, somerset, TA19 0AD

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 mitchams accountants limited. Currently there are 1 open charges and 1 have been satisfied in the past.

mitchams accountants limited Company Information

mitchams accountants limited Estimated Valuation

mitchams accountants limited Estimated Valuation

mitchams accountants limited Estimated Valuation

Mitchams Accountants Limited Overview

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MITCHAMS ACCOUNTANTS LIMITED financials

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