Mi-grains Limited

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mi-grains limited Company Information

Live

EstablishedMidHealthy

Company Number

07433895

Website

http://mi-grains.co.uk

Registered Address

woodbine farm business centre, truro business park, truro, cornwall, TR3 6BW

Industry

Wholesale of grain, unmanufactured tobacco, seeds and animal feeds

Telephone

01872572190

Next Accounts Due

January 2025

Group Structure

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Directors

Michael Freke13 Years

Shareholders

michael freke 100%

mi-grains limited Estimated Valuation

£2.7m

Pomanda estimates the enterprise value of MI-GRAINS LIMITED at £2.7m based on a Turnover of £7.9m and 0.34x industry multiple (adjusted for size and gross margin).

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Mi-grains Limited is a live company located in truro, TR3 6BW with a Companies House number of 07433895. It operates in the wholesale of grain, unmanufactured tobacco, seeds and animal feeds sector, SIC Code 46210. Founded in November 2010, it's largest shareholder is michael freke with a 100% stake. Mi-grains Limited is a established, mid sized company, Pomanda has estimated its turnover at £7.9m with healthy growth in recent years.

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Pomanda's financial health check has awarded Mi-Grains Limited a 3 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 5 areas for improvement. Company Health Check FAQs

Health Rating3out of 5

3 Strong

3 Regular

5 Weak

Size

annual sales of £7.9m, make it smaller than the average company (£33.9m)

Growth

3 year (CAGR) sales growth of 15%, show it is growing at a faster rate (6.7%)

EXPORT

Mi-Grains Limited's latest turnover from April 2023 is estimated at £7.9 million and the company has net assets of £33.8 thousand. According to their latest financial statements, Mi-Grains Limited has 2 employees and maintains cash reserves of £19.8 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Apr 2023	Apr 2022	Apr 2021	Apr 2020	Apr 2019	Apr 2018	Apr 2017	Apr 2016	Apr 2015	Apr 2014	Apr 2013	Apr 2012
Turnover	7,935,681	4,995,913	4,400,627	5,236,196	4,056,023	3,217,120	3,158,130	5,491,336	6,279,527	7,232,925	6,027,690	6,697,383
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	7,225,662	4,514,045	3,945,585	4,711,265	3,715,603	2,925,111	2,878,541	5,027,175	5,768,043	6,661,843	5,592,915	6,201,802
Gross Profit	710,019	481,868	455,043	524,930	340,420	292,010	279,588	464,162	511,485	571,083	434,776	495,582
Admin Expenses	725,163	457,009	448,016	503,263	324,609	298,677	268,789	448,989	520,286	610,828	442,573	428,710
Operating Profit	-15,144	24,859	7,027	21,667	15,811	-6,667	10,799	15,173	-8,801	-39,745	-7,797	66,872
Interest Payable	5,105	3,388	1,525	99	1,150	4,583	5,495	2,134	0	0	0	0
Interest Receivable	512	145	34	27	294	385	223	521	743	623	998	803
Pre-Tax Profit	-19,738	21,616	5,536	21,595	14,954	-10,865	5,527	13,560	-8,058	-39,122	-6,799	67,675
Tax	0	-4,107	-1,052	-4,103	-2,841	0	-1,050	-2,712	0	0	0	-16,242
Profit After Tax	-19,738	17,509	4,484	17,492	12,113	-10,865	4,477	10,848	-8,058	-39,122	-6,799	51,433
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-19,738	17,509	4,484	17,492	12,113	-10,865	4,477	10,848	-8,058	-39,122	-6,799	51,433
Employee Costs	92,699	90,104	87,649	90,080	90,413	84,290	85,040	199,310	150,095	143,891	166,453	187,064
Number Of Employees	2	2	2	2	2	2	2	5	4	4	4	5
EBITDA*	-10,510	29,751	11,301	26,032	20,091	-2,247	15,323	19,918	-4,693	-35,555	-3,495	75,409

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Apr 2023	Apr 2022	Apr 2021	Apr 2020	Apr 2019	Apr 2018	Apr 2017	Apr 2016	Apr 2015	Apr 2014	Apr 2013	Apr 2012
Tangible Assets	2,323	3,097	1,241	1,512	1,261	1,681	1,991	2,655	3,145	993	1,323	1,446
Intangible Assets	54,040	57,900	61,760	65,620	69,480	73,340	77,200	81,060	84,920	88,780	92,640	96,500
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	56,363	60,997	63,001	67,132	70,741	75,021	79,191	83,715	88,065	89,773	93,963	97,946
Stock & work in progress	0	0	0	0	0	0	0	0	420	19,336	1,500	1,451
Trade Debtors	820,266	585,142	424,371	504,270	408,150	278,337	230,757	373,325	455,961	533,438	524,218	504,064
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	62,906	46,723	45,893	50,463	48,351	38,136	37,370	28,401	29,945	0	0	0
Cash	19,814	4,268	34,294	32,901	20,638	57,745	96,191	82,052	126,352	170,889	78,194	321,162
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	902,986	636,133	504,558	587,634	477,139	374,218	364,318	483,778	612,678	723,663	603,912	826,677
total assets	959,349	697,130	567,559	654,766	547,880	449,239	443,509	567,493	700,743	813,436	697,875	924,623
Bank overdraft	8,389	0	0	0	3,231	30,848	110,169	65,673	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	836,334	550,884	453,287	607,192	512,850	401,109	300,163	481,861	703,288	807,923	653,240	873,189
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	0	0
other short term finances	9,760	10,648	1,666	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	39,996	42,358	28,269	16,054	17,771	15,367	20,397	11,656	0	0	0	0
total current liabilities	894,479	603,890	483,222	623,246	533,852	447,324	430,729	559,190	703,288	807,923	653,240	873,189
loans	31,095	39,727	48,333	0	0	0	0	0	0	0	0	0
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	0	0	0	0
provisions	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	31,095	39,727	48,333	0	0	0	0	0	0	0	0	0
total liabilities	925,574	643,617	531,555	623,246	533,852	447,324	430,729	559,190	703,288	807,923	653,240	873,189
net assets	33,775	53,513	36,004	31,520	14,028	1,915	12,780	8,303	-2,545	5,513	44,635	51,434
total shareholders funds	33,775	53,513	36,004	31,520	14,028	1,915	12,780	8,303	-2,545	5,513	44,635	51,434

	Apr 2023	Apr 2022	Apr 2021	Apr 2020	Apr 2019	Apr 2018	Apr 2017	Apr 2016	Apr 2015	Apr 2014	Apr 2013	Apr 2012
Operating Activities
Operating Profit	-15,144	24,859	7,027	21,667	15,811	-6,667	10,799	15,173	-8,801	-39,745	-7,797	66,872
Depreciation	774	1,032	414	505	420	560	664	885	248	330	442	537
Amortisation	3,860	3,860	3,860	3,860	3,860	3,860	3,860	3,860	3,860	3,860	3,860	8,000
Tax	0	-4,107	-1,052	-4,103	-2,841	0	-1,050	-2,712	0	0	0	-16,242
Stock	0	0	0	0	0	0	0	-420	-18,916	17,836	49	1,451
Debtors	251,307	161,601	-84,469	98,232	140,028	48,346	-133,599	-84,180	-47,532	9,220	20,154	504,064
Creditors	285,450	97,597	-153,905	94,342	111,741	100,946	-181,698	-221,427	-104,635	154,683	-219,949	873,189
Accruals and Deferred Income	-2,362	14,089	12,215	-1,717	2,404	-5,030	8,741	11,656	0	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	21,271	-24,271	-46,972	16,322	-8,633	45,323	-25,085	-107,965	-42,880	92,072	-243,647	426,841
Investing Activities
capital expenditure	0	-2,888	-143	-756	0	-250	0	-395	-2,400	0	-319	-106,483
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	0	-2,888	-143	-756	0	-250	0	-395	-2,400	0	-319	-106,483
Financing Activities
Bank loans	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
Other Short Term Loans	-888	8,982	1,666	0	0	0	0	0	0	0	0	0
Long term loans	-8,632	-8,606	48,333	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
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0
share issue	0	0	0	0	0	0	0	0	0	0	0	1
interest	-4,593	-3,243	-1,491	-72	-856	-4,198	-5,272	-1,613	743	623	998	803
cash flow from financing	-14,113	-2,867	48,508	-72	-856	-4,198	-5,272	-1,613	743	623	998	804
cash and cash equivalents
cash	15,546	-30,026	1,393	12,263	-37,107	-38,446	14,139	-44,300	-44,537	92,695	-242,968	321,162
overdraft	8,389	0	0	-3,231	-27,617	-79,321	44,496	65,673	0	0	0	0
change in cash	7,157	-30,026	1,393	15,494	-9,490	40,875	-30,357	-109,973	-44,537	92,695	-242,968	321,162

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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MI-GRAINS LIMITED group structure

Mi-Grains Limited has no subsidiary companies.

Ultimate parent company

MI-GRAINS LIMITED

07433895

MI-GRAINS LIMITED Shareholders

michael freke

100%

Mi-Grains Limited currently has 1 director, Mr Michael Freke serving since Nov 2010.

officer	country	age	start	end	role
Mr Michael Freke	United Kingdom	78 years	Nov 2010	-	Director

P&L

April 2023

turnover

7.9m

+59%

operating profit

-15.1k

gross margin

-7.24%

turnover

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

Balance Sheet

April 2023

net assets

33.8k

-0.37%

total assets

959.3k

+0.38%

cash

19.8k

+3.64%

net assets

Total assets minus all liabilities

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company number

07433895

Type

Private limited with Share Capital

industry

46210 - Wholesale of grain, unmanufactured tobacco, seeds and animal feeds

incorporation date

November 2010

age

accounts

Total Exemption Full

ultimate parent company

None

previous names

N/A

incorporated

address

woodbine farm business centre, truro business park, truro, cornwall, TR3 6BW

last accounts submitted

April 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 did not find charges/mortgages relating to mi-grains limited.

mi-grains limited Company Information

mi-grains limited Estimated Valuation

mi-grains limited Estimated Valuation

mi-grains limited Estimated Valuation

Mi-grains Limited Overview

Mi-grains Limited Health Check

MI-GRAINS LIMITED financials

mi-grains limited Credit Report and Business Information

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mi-grains limited Ownership

mi-grains limited directors

mi-grains limited company details

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mi-grains limited Companies House Filings - See Documents