turnstone equityco 1 limited

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turnstone equityco 1 limited Company Information

Share TURNSTONE EQUITYCO 1 LIMITED

Company Number

07496756

Shareholders

adp primary care acquisitions limited

ocorian limited

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Group Structure

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Industry

Activities of other holding companies (not including agricultural, production, construction, distribution and financial services holding companies) n.e.c.

 

Registered Address

europa house, europa trading estate, manchester, M26 1GG

turnstone equityco 1 limited Estimated Valuation

£1.7b

Pomanda estimates the enterprise value of TURNSTONE EQUITYCO 1 LIMITED at £1.7b based on a Turnover of £573.8m and 2.93x industry multiple (adjusted for size and gross margin).

turnstone equityco 1 limited Estimated Valuation

£894.4m

Pomanda estimates the enterprise value of TURNSTONE EQUITYCO 1 LIMITED at £894.4m based on an EBITDA of £73m and a 12.25x industry multiple (adjusted for size and gross margin).

turnstone equityco 1 limited Estimated Valuation

£0

Pomanda estimates the enterprise value of TURNSTONE EQUITYCO 1 LIMITED at £0 based on Net Assets of £-260m and 1.31x industry multiple (adjusted for liquidity).

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Turnstone Equityco 1 Limited Overview

Turnstone Equityco 1 Limited is a live company located in manchester, M26 1GG with a Companies House number of 07496756. It operates in the activities of other holding companies n.e.c. sector, SIC Code 64209. Founded in January 2011, it's largest shareholder is adp primary care acquisitions limited with a 100% stake. Turnstone Equityco 1 Limited is a established, mega sized company, Pomanda has estimated its turnover at £573.8m with healthy growth in recent years.

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Turnstone Equityco 1 Limited Health Check

Pomanda's financial health check has awarded Turnstone Equityco 1 Limited a 4 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 4 areas for improvement. Company Health Check FAQs

Health Check Image
Health Rating4out of 5
positive_score

6 Strong

positive_score

2 Regular

positive_score

4 Weak

size

Size

annual sales of £573.8m, make it larger than the average company (£19.1m)

£573.8m - Turnstone Equityco 1 Limited

£19.1m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of 10%, show it is growing at a similar rate (11.7%)

10% - Turnstone Equityco 1 Limited

11.7% - Industry AVG

production

Production

with a gross margin of 50.5%, this company has a lower cost of product (34.9%)

50.5% - Turnstone Equityco 1 Limited

34.9% - Industry AVG

profitability

Profitability

an operating margin of 1.1% make it less profitable than the average company (4.6%)

1.1% - Turnstone Equityco 1 Limited

4.6% - Industry AVG

employees

Employees

with 6289 employees, this is above the industry average (105)

6289 - Turnstone Equityco 1 Limited

105 - Industry AVG

paystructure

Pay Structure

on an average salary of £23.4k, the company has a lower pay structure (£44.5k)

£23.4k - Turnstone Equityco 1 Limited

£44.5k - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £91.2k, this is less efficient (£190.5k)

£91.2k - Turnstone Equityco 1 Limited

£190.5k - Industry AVG

debtordays

Debtor Days

it gets paid by customers after 0 days, this is earlier than average (45 days)

0 days - Turnstone Equityco 1 Limited

45 days - Industry AVG

creditordays

Creditor Days

its suppliers are paid after 15 days, this is quicker than average (43 days)

15 days - Turnstone Equityco 1 Limited

43 days - Industry AVG

stockdays

Stock Days

it holds stock equivalent to 8 days, this is less than average (34 days)

8 days - Turnstone Equityco 1 Limited

34 days - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 11 weeks, this is average cash available to meet short term requirements (14 weeks)

11 weeks - Turnstone Equityco 1 Limited

14 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 140.1%, this is a higher level of debt than the average (68.7%)

140.1% - Turnstone Equityco 1 Limited

68.7% - Industry AVG

TURNSTONE EQUITYCO 1 LIMITED financials

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Turnstone Equityco 1 Limited's latest turnover from March 2024 is £573.8 million and the company has net assets of -£260 million. According to their latest financial statements, Turnstone Equityco 1 Limited has 6,289 employees and maintains cash reserves of £62 million as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016Mar 2015Mar 2014Mar 2013Mar 2012
Turnover573,803,000534,636,000702,431,000425,987,000600,471,000571,889,000580,490,000585,823,000565,877,000534,244,000407,511,000348,952,000309,865,000
Other Income Or Grants
Cost Of Sales284,214,000264,352,000408,335,000222,673,000342,843,000317,693,000327,772,000324,821,000307,508,000294,877,000210,849,000183,508,000164,226,000
Gross Profit289,589,000270,284,000294,096,000203,314,000257,628,000254,196,000252,718,000261,002,000258,369,000239,367,000196,662,000165,444,000145,639,000
Admin Expenses283,472,000254,267,000305,534,000211,124,000341,070,000294,156,000353,478,000283,695,000246,776,000214,970,000178,090,000150,950,000138,288,000
Operating Profit6,117,00016,017,000-11,438,000-7,810,000-83,442,000-39,960,000-100,760,000-22,693,00011,593,00024,397,00018,572,00014,494,0007,351,000
Interest Payable79,197,00066,193,000104,412,000154,719,000143,921,000128,359,000119,429,000123,824,00099,331,00094,071,00095,495,00070,279,00057,627,000
Interest Receivable16,073,00014,539,0008,607,0004,00056,00039,000509,0001,590,0001,140,000107,00067,00037,00030,000
Pre-Tax Profit-57,007,000-35,637,000-107,243,000-163,386,000-227,307,000-168,280,000-219,680,000-144,927,000-86,598,000-69,567,000-77,298,000-59,379,000-53,779,000
Tax5,888,00024,941,0009,695,0006,388,000-8,657,0009,733,00011,435,00011,229,0007,813,0002,881,0001,980,0001,908,0002,211,000
Profit After Tax-51,119,000-10,696,000-97,548,000-156,998,000-235,964,000-158,547,000-208,245,000-133,698,000-78,785,000-66,686,000-75,318,000-57,471,000-51,568,000
Dividends Paid
Retained Profit-51,119,00055,123,000-97,548,000-156,998,000-235,964,000-158,574,000-208,266,000-133,710,000-78,679,000-66,601,000-75,368,000-57,391,000-51,564,000
Employee Costs147,126,000140,443,000151,997,000137,022,000139,739,000137,012,000142,545,000127,725,000124,819,000113,617,00089,920,00071,451,00061,721,000
Number Of Employees6,2896,4147,0056,8486,8757,1407,6567,5217,1456,7105,6224,9314,720
EBITDA*73,007,00077,996,00044,226,00056,110,000-19,259,00012,097,000-46,936,00030,793,00061,990,00070,582,00066,184,00055,638,00045,350,000

* Earnings Before Interest, Tax, Depreciation and Amortisation

Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016Mar 2015Mar 2014Mar 2013Mar 2012
Tangible Assets156,144,000135,632,000175,701,000186,068,000187,838,00095,175,000108,923,000111,549,000110,041,000102,552,00083,268,00068,179,00060,963,000
Intangible Assets377,803,000394,019,000329,685,000407,114,000437,632,000555,251,000620,630,000740,507,000792,381,000775,667,000614,834,000557,994,000543,790,000
Investments & Other34,00084,0004,000
Debtors (Due After 1 year)28,867,00024,475,00079,00086,380,000958,0002,462,000
Total Fixed Assets533,947,000529,651,000505,307,000593,182,000625,470,000650,426,000729,553,000852,056,000902,422,000878,219,000698,136,000626,257,000604,757,000
Stock & work in progress6,761,0006,145,0005,867,00034,036,00025,053,00028,400,00021,270,00019,709,00020,550,00022,226,0007,573,0006,238,0005,727,000
Trade Debtors1,544,0004,892,000392,00022,846,00026,636,00029,074,00031,127,00031,437,00019,292,00017,631,0003,938,0002,259,0002,110,000
Group Debtors55,000306,000306,000306,000305,000283,000272,000233,000332,000161,000
Misc Debtors31,960,00026,232,00019,438,00024,336,00024,264,00010,382,0009,845,0009,784,00029,965,00024,149,00040,756,00026,158,00022,763,000
Cash61,974,00063,156,00031,849,00011,713,00076,186,0008,984,00016,315,00012,717,00015,066,00029,241,0006,950,00042,516,00019,019,000
misc current assets12,391,00019,316,0008,601,000329,00040,0003,447,000272,0001,179,0002,529,000
total current assets114,841,000122,099,000193,338,00093,237,000152,774,00077,186,00082,309,00074,202,00086,324,00096,009,00059,549,00077,332,00049,619,000
total assets648,788,000651,750,000698,645,000686,419,000778,244,000727,612,000811,862,000926,258,000988,746,000974,228,000757,685,000703,589,000654,376,000
Bank overdraft
Bank loan10,893,00015,894,000
Trade Creditors 11,839,00015,667,00011,276,00027,691,00024,113,00025,382,00022,861,00021,650,00022,882,00019,146,00012,877,0008,430,0007,827,000
Group/Directors Accounts
other short term finances34,000380,0002,492,0003,115,0005,715,000920,000
hp & lease commitments16,388,00012,924,00012,871,00014,543,00014,333,000
other current liabilities249,448,000246,330,000240,978,000150,923,000123,955,000104,713,000116,287,00098,835,00088,053,00067,764,00052,368,00046,628,00036,786,000
total current liabilities277,675,000274,955,000265,505,000193,157,000162,401,000132,587,000139,148,000123,600,000116,650,00086,910,00065,245,00065,951,00061,427,000
loans1,236,290,0001,148,153,0001,388,956,0003,310,238,0003,228,910,0002,727,804,0002,514,722,0002,346,656,0002,195,497,0002,053,171,000826,418,000698,490,000623,884,000
hp & lease commitments75,733,00076,320,00072,929,00078,914,00079,392,000
Accruals and Deferred Income5,878,0001,853,000841,000
other liabilities304,000163,0002,932,0006,186,00032,259,00029,282,000
provisions23,880,00025,032,00011,254,00035,478,00048,386,00037,966,00088,450,000102,172,000117,310,000125,196,00010,217,00014,977,00017,871,000
total long term liabilities631,088,000587,383,000700,435,0001,673,162,0001,638,811,0001,382,885,0001,302,742,0001,224,930,0001,160,352,0001,096,921,000874,772,000744,602,000642,596,000
total liabilities908,763,000862,338,000965,940,0001,866,319,0001,801,212,0001,515,472,0001,441,890,0001,348,530,0001,277,002,0001,183,831,000940,017,000810,553,000704,023,000
net assets-259,975,000-210,588,000-267,295,000-1,179,900,000-1,022,968,000-787,860,000-630,161,000-422,373,000-288,345,000-209,603,000-182,332,000-106,964,000-49,647,000
total shareholders funds-259,975,000-210,588,000-267,295,000-1,179,900,000-1,022,968,000-787,860,000-630,161,000-422,373,000-288,345,000-209,603,000-182,332,000-106,964,000-49,647,000
Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016Mar 2015Mar 2014Mar 2013Mar 2012
Operating Activities
Operating Profit6,117,00016,017,000-11,438,000-7,810,000-83,442,000-39,960,000-100,760,000-22,693,00011,593,00024,397,00018,572,00014,494,0007,351,000
Depreciation21,547,00019,851,00027,832,00033,795,00033,658,00021,116,00021,745,00020,702,00018,750,00016,857,00013,623,00011,815,00011,196,000
Amortisation45,343,00042,128,00027,832,00030,125,00030,525,00030,941,00032,079,00032,784,00031,647,00029,328,00033,989,00029,329,00026,803,000
Tax5,888,00024,941,0009,695,0006,388,000-8,657,0009,733,00011,435,00011,229,0007,813,0002,881,0001,980,0001,908,0002,211,000
Stock616,000278,000-28,169,0008,983,000-3,347,0007,130,0001,561,000-841,000-1,676,00014,653,0001,335,000511,0005,727,000
Debtors6,772,00035,635,000-113,904,00082,662,00011,444,000-1,515,000-227,000-8,983,0006,012,000-551,00016,448,0003,705,00024,873,000
Creditors-3,828,0004,391,000-16,415,0003,578,000-1,269,0002,521,0001,211,000-1,232,0003,736,0006,269,0004,447,000603,0007,827,000
Accruals and Deferred Income3,118,0005,352,00090,055,00026,968,00019,242,000-11,574,00017,452,00010,782,00020,289,0009,518,0009,765,00010,854,00037,627,000
Deferred Taxes & Provisions-1,152,00013,778,000-24,224,000-12,908,00010,420,000-50,484,000-13,722,000-15,138,000-7,886,000114,979,000-4,760,000-2,894,00017,871,000
Cash flow from operations69,645,00090,545,000245,410,000-11,509,000-7,620,000-43,322,000-31,894,00046,258,00081,606,000190,127,00059,833,00061,893,00080,286,000
Investing Activities
capital expenditure-71,186,000-86,244,00032,132,000-31,632,000-39,227,00027,070,00068,679,000-3,120,000-74,600,000-226,302,000-23,535,000-14,467,000-12,018,000
Change in Investments-34,000-50,00080,0004,000
cash flow from investments-71,186,000-86,244,00032,132,000-31,632,000-39,227,00027,070,00068,679,000-3,120,000-74,600,000-226,268,000-23,485,000-14,547,000-12,022,000
Financing Activities
Bank loans-10,893,000-5,001,00015,894,000
Group/Directors Accounts
Other Short Term Loans -34,000-346,000380,000-2,492,0002,492,000-3,115,000-2,600,0005,715,000-920,000920,000
Long term loans88,137,000-240,803,000-1,921,282,00081,328,000501,106,000213,082,000168,066,000151,159,000142,326,0001,226,753,000127,928,00074,606,000623,884,000
Hire Purchase and Lease Commitments2,877,0003,444,000-7,657,000-268,00093,725,000
other long term liabilities-304,000141,000163,000-2,932,000-3,254,000-26,073,0002,977,00029,282,000
share issue1,732,0001,584,0001,010,153,00066,000856,000875,000478,000-318,000-63,00039,330,00074,0001,917,000
interest-63,124,000-51,654,000-95,805,000-154,715,000-143,865,000-128,320,000-118,920,000-122,234,000-98,191,000-93,964,000-95,428,000-70,242,000-57,597,000
cash flow from financing29,588,000-287,775,000-1,014,515,000-73,448,000449,493,00088,129,00046,509,00023,075,00046,533,0001,146,046,00024,584,00027,799,000585,018,000
cash and cash equivalents
cash-1,182,00031,307,00020,136,000-64,473,00067,202,000-7,331,0003,598,000-2,349,000-14,175,00022,291,000-35,566,00023,497,00019,019,000
overdraft
change in cash-1,182,00031,307,00020,136,000-64,473,00067,202,000-7,331,0003,598,000-2,349,000-14,175,00022,291,000-35,566,00023,497,00019,019,000

turnstone equityco 1 limited Credit Report and Business Information

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Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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Turnstone Equityco 1 Limited Competitor Analysis

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Perform a competitor analysis for turnstone equityco 1 limited by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other mega companies, companies in M26 area or any other competitors across 12 key performance metrics.

turnstone equityco 1 limited Ownership

TURNSTONE EQUITYCO 1 LIMITED group structure

Turnstone Equityco 1 Limited has 3 subsidiary companies.

Ultimate parent company

CEP III PARTICIPATIONS SARL SICAR

#0067260

CEP III IHP SARL

#0077459

2 parents

TURNSTONE EQUITYCO 1 LIMITED

07496756

3 subsidiaries

TURNSTONE EQUITYCO 1 LIMITED Shareholders

adp primary care acquisitions limited 100%
ocorian limited 0%
tom riall 0%
nilesh kundanlal pandya 0%
kevin stanley beeston 0%
david hudaly 0%
rashmi pandya 0%

turnstone equityco 1 limited directors

Turnstone Equityco 1 Limited currently has 7 directors. The longest serving directors include Mr Tom Riall (May 2017) and Mr Fabio Giuseppetti (Oct 2020).

officercountryagestartendrole
Mr Tom RiallEngland64 years May 2017- Director
Mr Fabio GiuseppettiEngland59 years Oct 2020- Director
Mr Aqib KadarEngland41 years Oct 2020- Director
Mr Nilesh PandyaUnited Kingdom54 years Nov 2020- Director
Mr Kevin BeestonEngland62 years Sep 2021- Director
Mr Richard StorahEngland47 years Jul 2022- Director
Mr Richard StorahEngland47 years Jul 2022- Director

P&L

March 2024

turnover

573.8m

+7%

operating profit

6.1m

-62%

gross margin

50.5%

-0.17%

turnover

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

Balance Sheet

March 2024

net assets

-260m

+0.23%

total assets

648.8m

0%

cash

62m

-0.02%

net assets

Total assets minus all liabilities

turnstone equityco 1 limited company details

company number

07496756

Type

Private limited with Share Capital

industry

64209 - Activities of other holding companies (not including agricultural, production, construction, distribution and financial services holding companies) n.e.c.

incorporation date

January 2011

age

14

incorporated

UK

ultimate parent company

CEP III PARTICIPATIONS SARL SICAR

accounts

Group

last accounts submitted

March 2024

previous names

N/A

accountant

-

auditor

DELOITTE LLP

address

europa house, europa trading estate, manchester, M26 1GG

Bank

-

Legal Advisor

-

turnstone equityco 1 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 1 charges/mortgages relating to turnstone equityco 1 limited. Currently there are 0 open charges and 1 have been satisfied in the past.

turnstone equityco 1 limited Capital Raised & Share Issues BETA

When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.

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turnstone equityco 1 limited Companies House Filings - See Documents

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