afro cart limited
afro cart limited Company Information
Company Number
08423277
Next Accounts
Nov 2025
Shareholders
abimbola ogundimu
Group Structure
View All
Industry
Other retail sale in non-specialised stores
Registered Address
150 kingston road, kingston road, portsmouth, PO2 7PD
Website
www.afrocartfoods.co.ukafro cart limited Estimated Valuation
Pomanda estimates the enterprise value of AFRO CART LIMITED at £64.7k based on a Turnover of £165k and 0.39x industry multiple (adjusted for size and gross margin).
afro cart limited Estimated Valuation
Pomanda estimates the enterprise value of AFRO CART LIMITED at £18.2k based on an EBITDA of £4.8k and a 3.78x industry multiple (adjusted for size and gross margin).
afro cart limited Estimated Valuation
Pomanda estimates the enterprise value of AFRO CART LIMITED at £0 based on Net Assets of £-38.1k and 3.02x industry multiple (adjusted for liquidity).
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Afro Cart Limited Overview
Afro Cart Limited is a live company located in portsmouth, PO2 7PD with a Companies House number of 08423277. It operates in the other retail sale in non-specialised stores sector, SIC Code 47190. Founded in February 2013, it's largest shareholder is abimbola ogundimu with a 100% stake. Afro Cart Limited is a established, micro sized company, Pomanda has estimated its turnover at £165k with rapid growth in recent years.
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Afro Cart Limited Health Check
Pomanda's financial health check has awarded Afro Cart Limited a 3 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 6 areas for improvement. Company Health Check FAQs
3 Strong
3 Regular
6 Weak
Size
annual sales of £165k, make it smaller than the average company (£1.2m)
- Afro Cart Limited
£1.2m - Industry AVG
Growth
3 year (CAGR) sales growth of 45%, show it is growing at a faster rate (11%)
- Afro Cart Limited
11% - Industry AVG
Production
with a gross margin of 43.3%, this company has a comparable cost of product (43.3%)
- Afro Cart Limited
43.3% - Industry AVG
Profitability
an operating margin of -16% make it less profitable than the average company (5.2%)
- Afro Cart Limited
5.2% - Industry AVG
Employees
with 2 employees, this is below the industry average (31)
2 - Afro Cart Limited
31 - Industry AVG
Pay Structure
on an average salary of £19.4k, the company has an equivalent pay structure (£19.4k)
- Afro Cart Limited
£19.4k - Industry AVG
Efficiency
resulting in sales per employee of £82.5k, this is equally as efficient (£89k)
- Afro Cart Limited
£89k - Industry AVG
Debtor Days
it gets paid by customers after 25 days, this is later than average (9 days)
- Afro Cart Limited
9 days - Industry AVG
Creditor Days
its suppliers are paid after 37 days, this is slower than average (32 days)
- Afro Cart Limited
32 days - Industry AVG
Stock Days
it holds stock equivalent to 21 days, this is less than average (79 days)
- Afro Cart Limited
79 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 4 weeks, this is less cash available to meet short term requirements (25 weeks)
4 weeks - Afro Cart Limited
25 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 132.7%, this is a higher level of debt than the average (65.8%)
132.7% - Afro Cart Limited
65.8% - Industry AVG
AFRO CART LIMITED financials
Afro Cart Limited's latest turnover from February 2024 is estimated at £165 thousand and the company has net assets of -£38.1 thousand. According to their latest financial statements, Afro Cart Limited has 2 employees and maintains cash reserves of £4.2 thousand as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Feb 2024 | Feb 2023 | Feb 2022 | Feb 2021 | Feb 2020 | Feb 2019 | Feb 2018 | Feb 2017 | Feb 2016 | Feb 2015 | Feb 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 2 | 2 | 1 | 1 | 1 | ||||||
| EBITDA* |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Feb 2024 | Feb 2023 | Feb 2022 | Feb 2021 | Feb 2020 | Feb 2019 | Feb 2018 | Feb 2017 | Feb 2016 | Feb 2015 | Feb 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 81,565 | 51,813 | 40,434 | 33,613 | 19,141 | 7,760 | 3,362 | 11,961 | 11,280 | 600 | 900 |
| Intangible Assets | |||||||||||
| Investments & Other | |||||||||||
| Debtors (Due After 1 year) | |||||||||||
| Total Fixed Assets | 81,565 | 51,813 | 40,434 | 33,613 | 19,141 | 7,760 | 3,362 | 11,961 | 11,280 | 600 | 900 |
| Stock & work in progress | 5,601 | 12,300 | 9,601 | 24,601 | 9,601 | 21,592 | 20,900 | 8,064 | |||
| Trade Debtors | 11,641 | 4,908 | 21,395 | 43,709 | 13,979 | 50 | |||||
| Group Debtors | |||||||||||
| Misc Debtors | 13,416 | 7,245 | 10,436 | 9,692 | 1,076 | ||||||
| Cash | 4,208 | 105,810 | 21,397 | 56,268 | 4,580 | 26,632 | 4,568 | 1,003 | |||
| misc current assets | 4,515 | 3,047 | 1,822 | ||||||||
| total current assets | 34,866 | 125,355 | 45,949 | 93,608 | 17,079 | 53,132 | 25,468 | 21,395 | 43,709 | 13,979 | 9,117 |
| total assets | 116,431 | 177,168 | 86,383 | 127,221 | 36,220 | 60,892 | 28,830 | 33,356 | 54,989 | 14,579 | 10,017 |
| Bank overdraft | 16,988 | 10,978 | 7,972 | 10,638 | 18,139 | 25,741 | |||||
| Bank loan | |||||||||||
| Trade Creditors | 9,558 | 19,914 | 8,242 | 4,411 | 13,797 | 18,205 | 13,054 | 6,252 | |||
| Group/Directors Accounts | 18,139 | 17,394 | 7,394 | ||||||||
| other short term finances | |||||||||||
| hp & lease commitments | 19,744 | 6,581 | |||||||||
| other current liabilities | 5,200 | 3,000 | 2,915 | 2,480 | 2,915 | 4,761 | 12,957 | ||||
| total current liabilities | 51,490 | 40,473 | 10,887 | 31,257 | 21,054 | 56,138 | 24,762 | 13,797 | 18,205 | 13,054 | 6,252 |
| loans | 103,061 | 102,083 | 50,000 | 50,000 | 11,554 | ||||||
| hp & lease commitments | 13,162 | 14,559 | 14,559 | 6,896 | |||||||
| Accruals and Deferred Income | |||||||||||
| other liabilities | 22,949 | 8,712 | 14,559 | 27,368 | 40,295 | ||||||
| provisions | |||||||||||
| total long term liabilities | 103,061 | 138,194 | 64,559 | 58,712 | 14,559 | 14,559 | 18,450 | 27,368 | 40,295 | ||
| total liabilities | 154,551 | 178,667 | 75,446 | 89,969 | 35,613 | 70,697 | 43,212 | 41,165 | 58,500 | 13,054 | 6,252 |
| net assets | -38,120 | -1,499 | 10,937 | 37,252 | 607 | -9,805 | -14,382 | -7,809 | -3,511 | 1,525 | 3,765 |
| total shareholders funds | -38,120 | -1,499 | 10,937 | 37,252 | 607 | -9,805 | -14,382 | -7,809 | -3,511 | 1,525 | 3,765 |
| Feb 2024 | Feb 2023 | Feb 2022 | Feb 2021 | Feb 2020 | Feb 2019 | Feb 2018 | Feb 2017 | Feb 2016 | Feb 2015 | Feb 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||
| Operating Profit | |||||||||||
| Depreciation | 31,216 | 39,221 | 13,085 | 9,519 | 6,348 | 300 | |||||
| Amortisation | |||||||||||
| Tax | |||||||||||
| Stock | -6,699 | 2,699 | -15,000 | 15,000 | -11,991 | 692 | 20,900 | -8,064 | 8,064 | ||
| Debtors | 17,812 | -3,191 | 744 | 8,616 | -3,832 | 4,908 | -21,395 | -22,314 | 29,730 | 13,929 | 50 |
| Creditors | -10,356 | 19,914 | -8,242 | 3,831 | -9,386 | -4,408 | 5,151 | 6,802 | 6,252 | ||
| Accruals and Deferred Income | 2,200 | 85 | 435 | -435 | -1,846 | -8,196 | 12,957 | ||||
| Deferred Taxes & Provisions | |||||||||||
| Cash flow from operations | |||||||||||
| Investing Activities | |||||||||||
| capital expenditure | |||||||||||
| Change in Investments | |||||||||||
| cash flow from investments | |||||||||||
| Financing Activities | |||||||||||
| Bank loans | |||||||||||
| Group/Directors Accounts | -18,139 | 18,139 | -17,394 | 10,000 | 7,394 | ||||||
| Other Short Term Loans | |||||||||||
| Long term loans | 978 | 52,083 | 50,000 | -11,554 | 11,554 | ||||||
| Hire Purchase and Lease Commitments | 1 | 5,184 | 14,559 | -14,559 | 7,663 | 6,896 | |||||
| other long term liabilities | -22,949 | 22,949 | -8,712 | -5,847 | 14,559 | -27,368 | -12,927 | 40,295 | |||
| share issue | |||||||||||
| interest | |||||||||||
| cash flow from financing | |||||||||||
| cash and cash equivalents | |||||||||||
| cash | -101,602 | 84,413 | -34,871 | 51,688 | -22,052 | 22,064 | 4,568 | -1,003 | 1,003 | ||
| overdraft | 6,010 | 3,006 | -2,666 | -7,501 | -7,602 | 25,741 | |||||
| change in cash | -107,612 | 81,407 | -32,205 | 59,189 | -14,450 | -3,677 | 4,568 | -1,003 | 1,003 |
afro cart limited Credit Report and Business Information
Afro Cart Limited Competitor Analysis
Perform a competitor analysis for afro cart limited by selecting its closest rivals, whether from the WHOLESALE AND RETAIL TRADE; REPAIR OF MOTOR VEHICLES AND MOTORCYCLES sector, other micro companies, companies in PO2 area or any other competitors across 12 key performance metrics.
afro cart limited Ownership
AFRO CART LIMITED group structure
Afro Cart Limited has no subsidiary companies.
Ultimate parent company
AFRO CART LIMITED
08423277
afro cart limited directors
Afro Cart Limited currently has 2 directors. The longest serving directors include Mr Abimbola Ogundimu (Feb 2013) and Mrs Fausat Ogundimu (Mar 2018).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Abimbola Ogundimu | England | 55 years | Feb 2013 | - | Director |
| Mrs Fausat Ogundimu | United Kingdom | 52 years | Mar 2018 | - | Director |
P&L
February 2024turnover
165k
+40%
operating profit
-26.4k
0%
gross margin
43.3%
+2.97%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
February 2024net assets
-38.1k
+24.43%
total assets
116.4k
-0.34%
cash
4.2k
-0.96%
net assets
Total assets minus all liabilities
afro cart limited company details
company number
08423277
Type
Private limited with Share Capital
industry
47190 - Other retail sale in non-specialised stores
incorporation date
February 2013
age
12
incorporated
UK
ultimate parent company
accounts
Total Exemption Full
last accounts submitted
February 2024
previous names
N/A
accountant
PRACTICAL ACCOUNTANT
auditor
-
address
150 kingston road, kingston road, portsmouth, PO2 7PD
Bank
-
Legal Advisor
-
afro cart 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 did not find charges/mortgages relating to afro cart limited.
afro cart 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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afro cart limited Companies House Filings - See Documents
| date | description | view/download |
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