Independence-development Ltd

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independence-development ltd Company Information

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EstablishedSmallHigh

Company Number

07500078

Website

http://independence-development.co.uk

Registered Address

4 blenheim avenue, ilford, essex, IG2 6JG

Industry

Other residential care activities

Telephone

02070910851

Next Accounts Due

October 2024

Group Structure

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Directors

Michael Olyedemi13 Years

Shareholders

michael olyedemi 100%

independence-development ltd Estimated Valuation

£1.2m

Pomanda estimates the enterprise value of INDEPENDENCE-DEVELOPMENT LTD at £1.2m based on a Turnover of £1.8m and 0.7x industry multiple (adjusted for size and gross margin).

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Independence-development Ltd is a live company located in essex, IG2 6JG with a Companies House number of 07500078. It operates in the other residential care activities n.e.c. sector, SIC Code 87900. Founded in January 2011, it's largest shareholder is michael olyedemi with a 100% stake. Independence-development Ltd is a established, small sized company, Pomanda has estimated its turnover at £1.8m with high growth in recent years.

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Pomanda's financial health check has awarded Independence-Development Ltd a 2.5 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 5 areas for improvement. Company Health Check FAQs

Health Rating2.5out of 5

1 Strong

6 Regular

5 Weak

Size

annual sales of £1.8m, make it in line with the average company (£1.8m)

Growth

3 year (CAGR) sales growth of 17%, show it is growing at a faster rate (3.8%)

EXPORT

Independence-Development Ltd's latest turnover from January 2023 is estimated at £1.8 million and the company has net assets of £373 thousand. According to their latest financial statements, Independence-Development Ltd has 40 employees and maintains cash reserves of £156 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Jan 2018	Jan 2017	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012
Turnover	1,761,202	2,403,117	2,564,310	1,092,291	641,605	757,545	777,068	551,187	732,507	526,650	68,316	128,122
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,035,388	1,489,242	1,636,559	670,353	393,174	460,155	465,271	343,603	452,049	325,023	41,140	77,462
Gross Profit	725,814	913,875	927,751	421,939	248,431	297,390	311,796	207,584	280,457	201,627	27,176	50,661
Admin Expenses	663,831	836,001	850,576	345,376	238,801	286,364	279,322	163,324	257,400	138,487	7,971	47,817
Operating Profit	61,983	77,874	77,175	76,563	9,630	11,026	32,474	44,260	23,057	63,140	19,205	2,844
Interest Payable	15,675	11,979	6,100	0	0	656	1,693	1,105	0	0	0	0
Interest Receivable	3,285	161	52	203	310	230	80	49	79	56	14	9
Pre-Tax Profit	49,594	66,056	71,127	76,765	9,940	10,600	30,861	43,204	23,137	63,196	19,218	2,853
Tax	-9,423	-12,551	-13,514	-14,585	-1,889	-2,014	-6,172	-8,641	-4,859	-14,535	-4,612	-742
Profit After Tax	40,171	53,505	57,613	62,180	8,051	8,586	24,689	34,563	18,278	48,661	14,606	2,111
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	40,171	53,505	57,613	62,180	8,051	8,586	24,689	34,563	18,278	48,661	14,606	2,111
Employee Costs	988,544	760,380	999,302	687,877	376,485	438,352	445,764	319,851	446,044	314,905	38,278	78,363
Number Of Employees	40	32	44	32	18	21	22	16	22	16	2	4
EBITDA*	95,271	109,564	108,361	102,309	33,376	34,772	53,052	61,166	32,513	70,390	22,358	3,933

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Jan 2018	Jan 2017	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012
Tangible Assets	225,037	258,325	223,022	200,327	140,096	152,092	147,375	146,398	94,061	58,183	17,630	5,900
Intangible Assets	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
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	225,037	258,325	223,022	200,327	140,096	152,092	147,375	146,398	94,061	58,183	17,630	5,900
Stock & work in progress	9,448	8,104	5,967	0	0	0	0	0	0	0	0	0
Trade Debtors	167,253	309,811	280,933	77,000	46,403	65,450	61,300	41,300	34,131	23,500	3,225	0
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	120,000	92,719	4,606	2,500	0	0	0	0	0	0	0	0
Cash	156,045	31,694	96,994	7,507	46,580	36,034	55,935	8,076	11,328	20,456	2,010	3,559
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	452,746	442,328	388,500	87,007	92,983	101,484	117,235	49,376	45,459	43,956	5,235	3,559
total assets	677,783	700,653	611,522	287,334	233,079	253,576	264,610	195,774	139,520	102,139	22,865	9,459
Bank overdraft	0	0	0	0	0	0	5,155	6,900	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	16,008	34,420	58,682	11,625	13,526	12,445	8,685	8,191	37,051	25,123	2,952	6,167
Group/Directors Accounts	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
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	110,242	118,203	44,797	33,733	35,749	65,378	68,576	11,745	0	0	0	0
total current liabilities	126,250	152,623	103,479	45,358	49,275	77,823	82,416	26,836	37,051	25,123	2,952	6,167
loans	146,667	183,335	200,000	0	0	0	15,027	27,100	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	31,851	31,851	28,704	20,250	24,258	24,258	24,258	23,618	18,812	11,637	3,195	1,180
total long term liabilities	178,518	215,186	228,704	20,250	24,258	24,258	39,285	50,718	18,812	11,637	3,195	1,180
total liabilities	304,768	367,809	332,183	65,608	73,533	102,081	121,701	77,554	55,863	36,760	6,147	7,347
net assets	373,015	332,844	279,339	221,726	159,546	151,495	142,909	118,220	83,657	65,379	16,718	2,112
total shareholders funds	373,015	332,844	279,339	221,726	159,546	151,495	142,909	118,220	83,657	65,379	16,718	2,112

	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Jan 2018	Jan 2017	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012
Operating Activities
Operating Profit	61,983	77,874	77,175	76,563	9,630	11,026	32,474	44,260	23,057	63,140	19,205	2,844
Depreciation	33,288	31,690	31,186	25,746	23,746	23,746	20,578	16,906	9,456	7,250	3,153	1,089
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-9,423	-12,551	-13,514	-14,585	-1,889	-2,014	-6,172	-8,641	-4,859	-14,535	-4,612	-742
Stock	1,344	2,137	5,967	0	0	0	0	0	0	0	0	0
Debtors	-115,277	116,991	206,039	33,097	-19,047	4,150	20,000	7,169	10,631	20,275	3,225	0
Creditors	-18,412	-24,262	47,057	-1,901	1,081	3,760	494	-28,860	11,928	22,171	-3,215	6,167
Accruals and Deferred Income	-7,961	73,406	11,064	-2,016	-29,629	-3,198	56,831	11,745	0	0	0	0
Deferred Taxes & Provisions	0	3,147	8,454	-4,008	0	0	640	4,806	7,175	8,442	2,015	1,180
Cash flow from operations	173,408	30,176	-50,584	46,702	21,986	29,170	84,845	33,047	36,126	66,193	13,321	10,538
Investing Activities
capital expenditure	0	-66,993	-53,881	-85,977	-11,750	-28,463	-21,555	-69,243	-45,334	-47,803	-14,883	-6,989
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	0	-66,993	-53,881	-85,977	-11,750	-28,463	-21,555	-69,243	-45,334	-47,803	-14,883	-6,989
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	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	-36,668	-16,665	200,000	0	0	-15,027	-12,073	27,100	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	-12,390	-11,818	-6,048	203	310	-426	-1,613	-1,056	79	56	14	9
cash flow from financing	-49,058	-28,483	193,952	203	310	-15,453	-13,686	26,044	79	56	14	10
cash and cash equivalents
cash	124,351	-65,300	89,487	-39,073	10,546	-19,901	47,859	-3,252	-9,128	18,446	-1,549	3,559
overdraft	0	0	0	0	0	-5,155	-1,745	6,900	0	0	0	0
change in cash	124,351	-65,300	89,487	-39,073	10,546	-14,746	49,604	-10,152	-9,128	18,446	-1,549	3,559

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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Perform a competitor analysis for independence-development ltd by selecting its closest rivals, whether from the HUMAN HEALTH AND SOCIAL WORK ACTIVITIES sector, other small companies, companies in IG2 area or any other competitors across 12 key performance metrics.

INDEPENDENCE-DEVELOPMENT LTD group structure

Independence-Development Ltd has no subsidiary companies.

Ultimate parent company

INDEPENDENCE-DEVELOPMENT LTD

07500078

INDEPENDENCE-DEVELOPMENT LTD Shareholders

michael olyedemi

100%

Independence-Development Ltd currently has 1 director, Mr Michael Olyedemi serving since Jan 2011.

officer	country	age	start	end	role
Mr Michael Olyedemi	United Kingdom	45 years	Jan 2011	-	Director

P&L

January 2023

turnover

1.8m

-27%

operating profit

62k

gross margin

41.3%

+8.37%

turnover

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

Balance Sheet

January 2023

net assets

373k

+0.12%

total assets

677.8k

-0.03%

cash

156k

+3.92%

net assets

Total assets minus all liabilities

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company number

07500078

Type

Private limited with Share Capital

industry

87900 - Other residential care activities

incorporation date

January 2011

ultimate parent company

None

previous names

N/A

address

4 blenheim avenue, ilford, essex, IG2 6JG

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 independence-development ltd. Currently there are 1 open charges and 0 have been satisfied in the past.

independence-development ltd Company Information

independence-development ltd Estimated Valuation

independence-development ltd Estimated Valuation

independence-development ltd Estimated Valuation

Independence-development Ltd Overview

Independence-development Ltd Health Check

INDEPENDENCE-DEVELOPMENT LTD financials

independence-development ltd Credit Report and Business Information

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independence-development ltd Ownership

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independence-development ltd Companies House Filings - See Documents