innovate tax limited
innovate tax limited Company Information
Company Number
08119496
Website
ebizanswers.netRegistered Address
suite 101 heath place, ash grove, bognor regis, west sussex, PO22 9SL
Industry
Computer consultancy activities
Business and domestic software development
Telephone
01243860893
Next Accounts Due
December 2024
Group Structure
View All
Shareholders
andrew bohnet 100%
innovate tax limited Estimated Valuation
Pomanda estimates the enterprise value of INNOVATE TAX LIMITED at £2.8m based on a Turnover of £3.8m and 0.74x industry multiple (adjusted for size and gross margin).
innovate tax limited Estimated Valuation
Pomanda estimates the enterprise value of INNOVATE TAX LIMITED at £1.7m based on an EBITDA of £334.1k and a 5.23x industry multiple (adjusted for size and gross margin).
innovate tax limited Estimated Valuation
Pomanda estimates the enterprise value of INNOVATE TAX LIMITED at £561.2k based on Net Assets of £954.6k and 0.59x industry multiple (adjusted for liquidity).
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Innovate Tax Limited Overview
Innovate Tax Limited is a live company located in bognor regis, PO22 9SL with a Companies House number of 08119496. It operates in the business and domestic software development sector, SIC Code 62012. Founded in June 2012, it's largest shareholder is andrew bohnet with a 100% stake. Innovate Tax Limited is a established, small sized company, Pomanda has estimated its turnover at £3.8m with healthy growth in recent years.
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Innovate Tax Limited Health Check
Pomanda's financial health check has awarded Innovate Tax Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 1 areas for improvement. Company Health Check FAQs
5 Strong
5 Regular
1 Weak
Size
annual sales of £3.8m, make it larger than the average company (£1.4m)
- Innovate Tax Limited
£1.4m - Industry AVG
Growth
3 year (CAGR) sales growth of 14%, show it is growing at a faster rate (6.2%)
- Innovate Tax Limited
6.2% - Industry AVG
Production
with a gross margin of 57.9%, this company has a comparable cost of product (57.9%)
- Innovate Tax Limited
57.9% - Industry AVG
Profitability
an operating margin of 8.1% make it as profitable than the average company (7%)
- Innovate Tax Limited
7% - Industry AVG
Employees
with 35 employees, this is above the industry average (13)
35 - Innovate Tax Limited
13 - Industry AVG
Pay Structure
on an average salary of £52.6k, the company has an equivalent pay structure (£52.6k)
- Innovate Tax Limited
£52.6k - Industry AVG
Efficiency
resulting in sales per employee of £109.1k, this is equally as efficient (£113.3k)
- Innovate Tax Limited
£113.3k - Industry AVG
Debtor Days
it gets paid by customers after 77 days, this is near the average (68 days)
- Innovate Tax Limited
68 days - Industry AVG
Creditor Days
its suppliers are paid after 3 days, this is quicker than average (34 days)
- Innovate Tax Limited
34 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- Innovate Tax Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 51 weeks, this is more cash available to meet short term requirements (22 weeks)
51 weeks - Innovate Tax Limited
22 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 43.3%, this is a lower level of debt than the average (57.6%)
43.3% - Innovate Tax Limited
57.6% - Industry AVG
INNOVATE TAX LIMITED financials
Innovate Tax Limited's latest turnover from March 2023 is estimated at £3.8 million and the company has net assets of £954.6 thousand. According to their latest financial statements, Innovate Tax Limited has 35 employees and maintains cash reserves of £675.6 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 35 | 31 | 29 | 28 | 26 | 18 | 14 | 7 | |||
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 59,697 | 25,893 | 18,597 | 22,948 | 20,839 | 8,937 | 9,926 | 15,434 | 10,414 | 4,129 | 734 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments & Other | 1,000 | 1,000 | 1,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 60,697 | 26,893 | 19,597 | 22,948 | 20,839 | 8,937 | 9,926 | 15,434 | 10,414 | 4,129 | 734 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 810,718 | 375,844 | 371,778 | 526,213 | 177,225 | 343,152 | 179,826 | 291,196 | 69,723 | 40,170 | 117,425 |
| Group Debtors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Misc Debtors | 136,047 | 240,046 | 59,908 | 73,235 | 155,531 | 26,551 | 30,042 | 39,986 | 0 | 0 | 0 |
| Cash | 675,569 | 825,426 | 1,091,465 | 538,890 | 345,265 | 382,607 | 96,314 | 186,372 | 23,832 | 52,546 | 39,862 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 1,622,334 | 1,441,316 | 1,523,151 | 1,138,338 | 678,021 | 752,310 | 306,182 | 517,554 | 93,555 | 92,716 | 157,287 |
| total assets | 1,683,031 | 1,468,209 | 1,542,748 | 1,161,286 | 698,860 | 761,247 | 316,108 | 532,988 | 103,969 | 96,845 | 158,021 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 14,323 | 41,705 | 8,971 | 16,164 | 7,891 | 56,776 | 4,170 | 67,650 | 79,682 | 37,020 | 83,182 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other short term finances | 85,235 | 80,988 | 50,694 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 584,027 | 521,634 | 444,469 | 481,585 | 272,436 | 343,295 | 112,184 | 200,111 | 0 | 0 | 0 |
| total current liabilities | 683,585 | 644,327 | 504,134 | 497,749 | 280,327 | 400,071 | 116,354 | 267,761 | 79,682 | 37,020 | 83,182 |
| loans | 44,809 | 130,044 | 299,306 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 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 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,714 | 1,516 | 0 | 0 |
| total long term liabilities | 44,809 | 130,044 | 299,306 | 0 | 0 | 0 | 0 | 2,714 | 1,516 | 0 | 0 |
| total liabilities | 728,394 | 774,371 | 803,440 | 497,749 | 280,327 | 400,071 | 116,354 | 270,475 | 81,198 | 37,020 | 83,182 |
| net assets | 954,637 | 693,838 | 739,308 | 663,537 | 418,533 | 361,176 | 199,754 | 262,513 | 22,771 | 59,825 | 74,839 |
| total shareholders funds | 954,637 | 693,838 | 739,308 | 663,537 | 418,533 | 361,176 | 199,754 | 262,513 | 22,771 | 59,825 | 74,839 |
| Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | Mar 2014 | Mar 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||
| Operating Profit | |||||||||||
| Depreciation | 26,518 | 19,296 | 12,188 | 7,189 | 7,149 | 7,668 | 6,569 | 3,388 | 1,449 | 21 | |
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tax | |||||||||||
| Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors | 330,875 | 184,204 | -167,762 | 266,692 | -36,947 | 159,835 | -121,314 | 261,459 | 29,553 | -77,255 | 117,425 |
| Creditors | -27,382 | 32,734 | -7,193 | 8,273 | -48,885 | 52,606 | -63,480 | -12,032 | 42,662 | -46,162 | 83,182 |
| Accruals and Deferred Income | 62,393 | 77,165 | -37,116 | 209,149 | -70,859 | 231,111 | -87,927 | 200,111 | 0 | 0 | 0 |
| Deferred Taxes & Provisions | 0 | 0 | 0 | 0 | 0 | 0 | -2,714 | 1,198 | 1,516 | 0 | 0 |
| Cash flow from operations | |||||||||||
| Investing Activities | |||||||||||
| capital expenditure | |||||||||||
| Change in Investments | 0 | 0 | 1,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | |||||||||||
| Financing Activities | |||||||||||
| Bank loans | 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 |
| Other Short Term Loans | 4,247 | 30,294 | 50,694 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | -85,235 | -169,262 | 299,306 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Hire Purchase and Lease Commitments | 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 |
| share issue | |||||||||||
| interest | |||||||||||
| cash flow from financing | |||||||||||
| cash and cash equivalents | |||||||||||
| cash | -149,857 | -266,039 | 552,575 | 193,625 | -37,342 | 286,293 | -90,058 | 162,540 | -28,714 | 12,684 | 39,862 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | -149,857 | -266,039 | 552,575 | 193,625 | -37,342 | 286,293 | -90,058 | 162,540 | -28,714 | 12,684 | 39,862 |
innovate tax limited Credit Report and Business Information
Innovate Tax Limited Competitor Analysis
Perform a competitor analysis for innovate tax limited by selecting its closest rivals, whether from the INFORMATION AND COMMUNICATION sector, other small companies, companies in PO22 area or any other competitors across 12 key performance metrics.
innovate tax limited Ownership
INNOVATE TAX LIMITED group structure
Innovate Tax Limited has 1 subsidiary company.
innovate tax limited directors
Innovate Tax Limited currently has 3 directors. The longest serving directors include Mr Andrew Bohnet (Jun 2012) and Mrs Donna Bohnet (Apr 2017).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Andrew Bohnet | England | 48 years | Jun 2012 | - | Director |
| Mrs Donna Bohnet | England | 48 years | Apr 2017 | - | Director |
| Mr Nathan Farmer | United Kingdom | 38 years | Apr 2017 | - | Director |
P&L
March 2023turnover
3.8m
+62%
operating profit
307.6k
0%
gross margin
58%
-0.47%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
March 2023net assets
954.6k
+0.38%
total assets
1.7m
+0.15%
cash
675.6k
-0.18%
net assets
Total assets minus all liabilities
Similar Companies
innovate tax limited company details
company number
08119496
Type
Private limited with Share Capital
industry
70229 - Management consultancy activities (other than financial management)
62020 - Computer consultancy activities
62012 - Business and domestic software development
incorporation date
June 2012
age
12
incorporated
UK
accounts
Total Exemption Full
ultimate parent company
previous names
ebiz answers ltd (April 2019)
last accounts submitted
March 2023
address
suite 101 heath place, ash grove, bognor regis, west sussex, PO22 9SL
accountant
KRESTON REEVES LLP
auditor
-
innovate tax 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 innovate tax limited. Currently there are 0 open charges and 2 have been satisfied in the past.
innovate tax limited Companies House Filings - See Documents
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