Covec Limited

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covec limited Company Information

Company Number

07804110

Next Accounts

Sep 2025

Directors

Brian Norton

Keith Bloxsome

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Shareholders

keith bloxsome

brian richard norton

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Group Structure

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Industry

Other business support service activities n.e.c.

Registered Address

unit 3 flanders industrial park, flanders road, southampton, hampshire, SO30 2FZ

Website

http://bull-it.com

covec limited Estimated Valuation

£1.8m

Pomanda estimates the enterprise value of COVEC LIMITED at £1.8m based on a Turnover of £3.2m and 0.58x industry multiple (adjusted for size and gross margin).

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Covec Limited is a live company located in southampton, SO30 2FZ with a Companies House number of 07804110. It operates in the other business support service activities n.e.c. sector, SIC Code 82990. Founded in October 2011, it's largest shareholder is keith bloxsome with a 45.8% stake. Covec Limited is a established, small sized company, Pomanda has estimated its turnover at £3.2m with healthy growth in recent years.

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

Health Rating5out of 5

5 Strong

2 Regular

5 Weak

Size

annual sales of £3.2m, make it smaller than the average company (£4.8m)

Growth

3 year (CAGR) sales growth of 10%, show it is growing at a faster rate (6.7%)

EXPORT

Covec Limited's latest turnover from December 2023 is estimated at £3.2 million and the company has net assets of £675.2 thousand. According to their latest financial statements, Covec Limited has 7 employees and maintains cash reserves of £40 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012
Turnover	3,168,583	1,127,210	2,782,047	2,381,663	2,978,334	4,748,468	3,041,413	1,401,116	1,519,644	865,678	1,113,111	211,697
Other Income Or Grants
Cost Of Sales	1,959,077	695,319	1,741,890	1,496,587	1,862,353	2,984,713	1,898,565	868,598	966,208	558,687	724,802	135,558
Gross Profit	1,209,506	431,891	1,040,157	885,076	1,115,981	1,763,755	1,142,848	532,518	553,436	306,991	388,310	76,139
Admin Expenses	993,344	533,449	1,329,063	698,241	988,877	1,628,614	912,376	612,020	530,685	462,440	528,113	268,388
Operating Profit	216,162	-101,558	-288,906	186,835	127,104	135,141	230,472	-79,502	22,751	-155,449	-139,803	-192,249
Interest Payable	12,466	12,275	5,846	4,671	9,090	17,566	13,377	729	298
Interest Receivable	5,287	4,127	240	62	43	46	96	46	123	233	528	404
Pre-Tax Profit	208,983	-109,706	-294,513	182,226	118,057	117,621	217,190	-80,185	22,576	-155,216	-139,275	-191,845
Tax	-52,246			-34,623	-22,431	-22,348	-41,266		-4,515
Profit After Tax	156,737	-109,706	-294,513	147,603	95,626	95,273	175,924	-80,185	18,061	-155,216	-139,275	-191,845
Dividends Paid
Retained Profit	156,737	-109,706	-294,513	147,603	95,626	95,273	175,924	-80,185	18,061	-155,216	-139,275	-191,845
Employee Costs	377,259	359,413	341,865	185,656	183,850	265,651	251,681	293,632	457,122	249,205	328,811	80,170
Number Of Employees	7	7	7	4	4	6	6	7	11	6	8	2
EBITDA*	240,331	-76,436	-263,127	203,343	143,407	153,242	249,126	-60,042	42,096	-140,681	-132,846	-189,249

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012
Tangible Assets	69,586	75,544	64,311	28,287	15,454	15,420	17,225	17,915	20,463	21,267	9,880
Intangible Assets	20,189	24,608	37,220	39,536	48,822	51,769	54,196	58,151	66,905	63,806	55,750	27,000
Investments & Other
Debtors (Due After 1 year)
Total Fixed Assets	89,775	100,152	101,531	67,823	64,276	67,189	71,421	76,066	87,368	85,073	65,630	27,000
Stock & work in progress	721,885	749,881	923,102	1,168,235	1,067,456	649,278	651,643	479,370	349,739	318,176	163,991	22,582
Trade Debtors	561,230	67,433	502,673	349,041	566,886	984,383	693,902	193,570	244,494	68,786	100,284	30,799
Group Debtors
Misc Debtors	67,495	89,218	35,701	48,146	7,141	23,289	4,288	36,142	22,679
Cash	40,039	161,353	74,464	117,285	6,653	4,781	7,544	30,805	6,000	43,188	49,857	161,426
misc current assets
total current assets	1,390,649	1,067,885	1,535,940	1,682,707	1,648,136	1,661,731	1,357,377	739,887	622,912	430,150	314,132	214,807
total assets	1,480,424	1,168,037	1,637,471	1,750,530	1,712,412	1,728,920	1,428,798	815,953	710,280	515,223	379,762	241,807
Bank overdraft	143,453	78,168	180,255	6,826	146,308	123,023	397,443	14,170	9,155
Bank loan
Trade Creditors	348,094	130,860	293,819	245,011	255,388	664,804	211,097	139,308	60,554	113,436	200,508	23,406
Group/Directors Accounts
other short term finances
hp & lease commitments
other current liabilities	191,737	220,953	198,694	182,103	203,017	171,062	116,558	110,694	101,180
total current liabilities	683,284	429,981	672,768	433,940	604,713	958,889	725,098	264,172	170,889	113,436	200,508	23,406
loans
hp & lease commitments
Accruals and Deferred Income
other liabilities	121,950	219,603	332,629	393,918	332,630	90,588	119,530	143,535	50,960	54,243
provisions			3,915
total long term liabilities	121,950	219,603	336,544	393,918	332,630	90,588	119,530	143,535	50,960	54,243
total liabilities	805,234	649,584	1,009,312	827,858	937,343	1,049,477	844,628	407,707	221,849	167,679	200,508	23,406
net assets	675,190	518,453	628,159	922,672	775,069	679,443	584,170	408,246	488,431	347,544	179,254	218,401
total shareholders funds	675,190	518,453	628,159	922,672	775,069	679,443	584,170	408,246	488,431	347,544	179,254	218,401

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012
Operating Activities
Operating Profit	216,162	-101,558	-288,906	186,835	127,104	135,141	230,472	-79,502	22,751	-155,449	-139,803	-192,249
Depreciation	18,950	17,801	14,263	4,484	3,242	3,880	4,298	5,354	4,886	3,470	429
Amortisation	5,219	7,321	11,516	12,024	13,061	14,221	14,356	14,106	14,459	11,298	6,528	3,000
Tax	-52,246			-34,623	-22,431	-22,348	-41,266		-4,515
Stock	-27,996	-173,221	-245,133	100,779	418,178	-2,365	172,273	129,631	31,563	154,185	141,409	22,582
Debtors	472,074	-381,723	141,187	-176,840	-433,645	309,482	468,478	-37,461	198,387	-31,498	69,485	30,799
Creditors	217,234	-162,959	48,808	-10,377	-409,416	453,707	71,789	78,754	-52,882	-87,072	177,102	23,406
Accruals and Deferred Income	-29,216	22,259	16,591	-20,914	31,955	54,504	5,864	9,514	101,180
Deferred Taxes & Provisions		-3,915	3,915
Cash flow from operations	-67,975	333,893	-89,867	213,490	-241,018	331,988	-355,238	-63,944	-144,071	-350,440	-166,638	-219,224
Investing Activities
capital expenditure	-13,792	-23,743	-59,487	-20,055	-13,390	-13,869	-14,009	-8,158	-21,640	-34,211	-45,587	-30,000
Change in Investments
cash flow from investments	-13,792	-23,743	-59,487	-20,055	-13,390	-13,869	-14,009	-8,158	-21,640	-34,211	-45,587	-30,000
Financing Activities
Bank loans
Group/Directors Accounts
Other Short Term Loans
Long term loans
Hire Purchase and Lease Commitments
other long term liabilities	-97,653	-113,026	-61,289	61,288	242,042	-28,942	-24,005	92,575	-3,283	54,243
share issue									122,826	323,506	100,128	410,246
interest	-7,179	-8,148	-5,606	-4,609	-9,047	-17,520	-13,281	-683	-175	233	528	404
cash flow from financing	-104,832	-121,174	-66,895	56,679	232,995	-46,462	-37,286	91,892	119,368	377,982	100,656	410,650
cash and cash equivalents
cash	-121,314	86,889	-42,821	110,632	1,872	-2,763	-23,261	24,805	-37,188	-6,669	-111,569	161,426
overdraft	65,285	-102,087	173,429	-139,482	23,285	-274,420	383,273	5,015	9,155
change in cash	-186,599	188,976	-216,250	250,114	-21,413	271,657	-406,534	19,790	-46,343	-6,669	-111,569	161,426

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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COVEC LIMITED group structure

Covec Limited has no subsidiary companies.

Ultimate parent company

COVEC LIMITED

07804110

COVEC LIMITED Shareholders

keith bloxsome	45.77%
brian richard norton	19.4%
par innovation fund i lp	13.81%
robert mark redwood	4.06%
david toplas	2.29%
khurram sethi	2.19%
jeanette mccarthy	1.92%
clive robinson	1.14%
steve charles pottinger	1.08%
alan lawson	0.68%

Covec Limited currently has 3 directors. The longest serving directors include Mr Brian Norton (Oct 2011) and Mr Keith Bloxsome (Oct 2011).

officer	country	age	start	end	role
Mr Brian Norton	England	59 years	Oct 2011	-	Director
Mr Keith Bloxsome	England	64 years	Oct 2011	-	Director
Mr Paul Munn	England	62 years	Jun 2012	-	Director

P&L

December 2023

turnover

3.2m

+181%

operating profit

216.2k

gross margin

38.2%

-0.37%

turnover

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

Balance Sheet

December 2023

net assets

675.2k

+0.3%

total assets

1.5m

+0.27%

cash

40k

-0.75%

net assets

Total assets minus all liabilities

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company number

07804110

Type

Private limited with Share Capital

industry

82990 - Other business support service activities n.e.c.

incorporation date

October 2011

ultimate parent company

None

previous names

N/A

address

unit 3 flanders industrial park, flanders road, southampton, hampshire, SO30 2FZ

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 6 charges/mortgages relating to covec limited. Currently there are 1 open charges and 5 have been satisfied in the past.

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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covec limited Company Information

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covec limited Estimated Valuation

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