mitchams accountants limited Company Information
Company Number
07389098
Website
www.mitchams.co.ukRegistered Address
1 cornhill, ilminster, somerset, TA19 0AD
Industry
Accounting, and auditing activities
Telephone
0146052202
Next Accounts Due
December 2024
Group Structure
View All
Shareholders
timothy ian maclellan 50.6%
lorna elizabeth cox 24.7%
View Allmitchams accountants limited Estimated Valuation
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).
mitchams accountants limited Estimated Valuation
Pomanda estimates the enterprise value of MITCHAMS ACCOUNTANTS LIMITED at £0 based on an EBITDA of £-276.5k and a 4.59x industry multiple (adjusted for size and gross margin).
mitchams accountants limited Estimated Valuation
Pomanda estimates the enterprise value of MITCHAMS ACCOUNTANTS LIMITED at £443k based on Net Assets of £146.1k and 3.03x industry multiple (adjusted for liquidity).
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Mitchams Accountants Limited Overview
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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Mitchams Accountants Limited Health Check
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
2 Strong
4 Regular
6 Weak
Size
annual sales of £776.6k, make it larger than the average company (£140.8k)
- Mitchams Accountants Limited
£140.8k - Industry AVG
Growth
3 year (CAGR) sales growth of 3%, show it is growing at a slower rate (5.8%)
- Mitchams Accountants Limited
5.8% - Industry AVG
Production
with a gross margin of 68.5%, this company has a comparable cost of product (68.5%)
- Mitchams Accountants Limited
68.5% - Industry AVG
Profitability
an operating margin of -36.3% make it less profitable than the average company (17.2%)
- Mitchams Accountants Limited
17.2% - Industry AVG
Employees
with 15 employees, this is above the industry average (3)
15 - Mitchams Accountants Limited
3 - Industry AVG
Pay Structure
on an average salary of £20.6k, the company has an equivalent pay structure (£20.6k)
- Mitchams Accountants Limited
£20.6k - Industry AVG
Efficiency
resulting in sales per employee of £51.8k, this is less efficient (£69.7k)
- Mitchams Accountants Limited
£69.7k - Industry AVG
Debtor Days
it gets paid by customers after 93 days, this is near the average (97 days)
- Mitchams Accountants Limited
97 days - Industry AVG
Creditor Days
its suppliers are paid after 9 days, this is quicker than average (26 days)
- Mitchams Accountants Limited
26 days - Industry AVG
Stock Days
it holds stock equivalent to 316 days, this is more than average (66 days)
- Mitchams Accountants Limited
66 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 30 weeks, this is average cash available to meet short term requirements (27 weeks)
30 weeks - Mitchams Accountants Limited
27 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 78.5%, this is a higher level of debt than the average (56.8%)
78.5% - Mitchams Accountants Limited
56.8% - Industry AVG
MITCHAMS ACCOUNTANTS LIMITED financials
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 | Mar 2011 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Turnover | |||||||||||||
Other Income Or Grants | |||||||||||||
Cost Of Sales | |||||||||||||
Gross Profit | |||||||||||||
Admin Expenses | |||||||||||||
Operating Profit | |||||||||||||
Interest Payable | |||||||||||||
Interest Receivable | |||||||||||||
Pre-Tax Profit | |||||||||||||
Tax | |||||||||||||
Profit After Tax | |||||||||||||
Dividends Paid | |||||||||||||
Retained Profit | |||||||||||||
Employee Costs | |||||||||||||
Number Of Employees | 15 | 14 | 15 | 15 | 15 | 14 | 14 | ||||||
EBITDA* |
* 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 | 16,342 | 14,983 | 21,518 | 27,827 | 13,202 | 15,488 | 17,901 | 21,014 | 21,483 | 27,178 | 12,579 | 8,680 | 0 |
Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 151,202 | 302,404 | 453,606 | 604,808 | 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 | 16,342 | 14,983 | 21,518 | 27,827 | 13,202 | 15,488 | 17,901 | 21,014 | 172,685 | 329,582 | 466,185 | 613,488 | 0 |
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 | 0 |
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 | 0 |
Group Debtors | 0 | 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 | 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 | 0 |
misc current assets | 0 | 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 | 0 |
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 | 0 |
Bank overdraft | 37,000 | 10,000 | 3,333 | 0 | 0 | 0 | 20,359 | 31,641 | 0 | 0 | 0 | 0 | 0 |
Bank loan | 0 | 0 | 0 | 21,319 | 20,974 | 20,648 | 0 | 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 | 0 |
Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 104,820 | 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 | 350,571 | 261,866 | 265,122 | 266,036 | 258,832 | 276,136 | 266,453 | 125,355 | 0 | 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 | 0 |
loans | 134,667 | 36,667 | 46,667 | 0 | 20,973 | 41,295 | 61,078 | 133,588 | 37,221 | 66,513 | 94,921 | 126,562 | 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 | 126,563 | 126,563 | 126,563 | 126,563 | 0 |
provisions | 4,086 | 3,746 | 4,088 | 5,287 | 2,244 | 2,633 | 3,401 | 4,203 | 0 | 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 | 0 |
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 | 0 |
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 | 0 |
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 | 0 |
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 | |||||||||||||
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 | |
Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 151,202 | 151,202 | 151,202 | 151,202 | 151,202 | |
Tax | |||||||||||||
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 | |||||||||||||
Investing Activities | |||||||||||||
capital expenditure | |||||||||||||
Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
cash flow from investments | |||||||||||||
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 | |||||||||||||
interest | |||||||||||||
cash flow from financing | |||||||||||||
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 |
mitchams accountants limited Credit Report and Business Information
Mitchams Accountants Limited Competitor Analysis
Perform a competitor analysis for mitchams accountants limited by selecting its closest rivals, whether from the PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES sector, other small companies, companies in TA19 area or any other competitors across 12 key performance metrics.
mitchams accountants limited Ownership
MITCHAMS ACCOUNTANTS LIMITED group structure
Mitchams Accountants Limited has no subsidiary companies.
Ultimate parent company
MITCHAMS ACCOUNTANTS LIMITED
07389098
mitchams accountants limited directors
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 2023turnover
776.6k
-7%
operating profit
-282k
0%
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 2023net assets
146.1k
-0.66%
total assets
679k
-0.09%
cash
235k
-0.06%
net assets
Total assets minus all liabilities
mitchams accountants limited company details
company number
07389098
Type
Private limited with Share Capital
industry
69201 - Accounting, and auditing activities
incorporation date
September 2010
age
14
incorporated
UK
ultimate parent company
accounts
Total Exemption Full
last accounts submitted
March 2023
previous names
N/A
accountant
-
auditor
-
address
1 cornhill, ilminster, somerset, TA19 0AD
Bank
LLOYDS TSB BANK PLC
Legal Advisor
-
mitchams accountants limited Charges & Mortgages
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 Companies House Filings - See Documents
date | description | view/download |
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