mer fleet services limited
mer fleet services limited Company Information
Company Number
09002413
Website
www.elmtronics.co.ukRegistered Address
19th floor 22 bishopsgate, london, EC2N 4BQ
Industry
Other professional, scientific and technical activities (not including environmental consultancy or quantity surveying) n.e.c.
Telephone
01914173719
Next Accounts Due
September 2024
Group Structure
View All
Shareholders
elmtronics group limited 100%
mer fleet services limited Estimated Valuation
Pomanda estimates the enterprise value of MER FLEET SERVICES LIMITED at £1.8m based on a Turnover of £5m and 0.36x industry multiple (adjusted for size and gross margin).
mer fleet services limited Estimated Valuation
Pomanda estimates the enterprise value of MER FLEET SERVICES LIMITED at £0 based on an EBITDA of £-4.7m and a 2.81x industry multiple (adjusted for size and gross margin).
mer fleet services limited Estimated Valuation
Pomanda estimates the enterprise value of MER FLEET SERVICES LIMITED at £0 based on Net Assets of £-4.1m and 0.47x industry multiple (adjusted for liquidity).
Edit your figures and get a professional valuation report.
Mer Fleet Services Limited Overview
Mer Fleet Services Limited is a live company located in london, EC2N 4BQ with a Companies House number of 09002413. It operates in the other professional, scientific and technical activities n.e.c. sector, SIC Code 74909. Founded in April 2014, it's largest shareholder is elmtronics group limited with a 100% stake. Mer Fleet Services Limited is a established, mid sized company, Pomanda has estimated its turnover at £5m with healthy growth in recent years.
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Mer Fleet Services Limited Health Check
Pomanda's financial health check has awarded Mer Fleet Services Limited a 2 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 7 areas for improvement. Company Health Check FAQs
4 Strong
1 Regular
7 Weak
Size
annual sales of £5m, make it larger than the average company (£2.6m)
£5m - Mer Fleet Services Limited
£2.6m - Industry AVG
Growth
3 year (CAGR) sales growth of 12%, show it is growing at a faster rate (4.4%)
- Mer Fleet Services Limited
4.4% - Industry AVG
Production
with a gross margin of 9.2%, this company has a higher cost of product (43.8%)
9.2% - Mer Fleet Services Limited
43.8% - Industry AVG
Profitability
an operating margin of -96.7% make it less profitable than the average company (5.9%)
-96.7% - Mer Fleet Services Limited
5.9% - Industry AVG
Employees
with 70 employees, this is above the industry average (22)
70 - Mer Fleet Services Limited
22 - Industry AVG
Pay Structure
on an average salary of £45.6k, the company has an equivalent pay structure (£50.7k)
£45.6k - Mer Fleet Services Limited
£50.7k - Industry AVG
Efficiency
resulting in sales per employee of £71.6k, this is less efficient (£125.9k)
£71.6k - Mer Fleet Services Limited
£125.9k - Industry AVG
Debtor Days
it gets paid by customers after 106 days, this is later than average (57 days)
106 days - Mer Fleet Services Limited
57 days - Industry AVG
Creditor Days
its suppliers are paid after 203 days, this is slower than average (32 days)
203 days - Mer Fleet Services Limited
32 days - Industry AVG
Stock Days
it holds stock equivalent to 207 days, this is more than average (31 days)
207 days - Mer Fleet Services Limited
31 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 6 weeks, this is less cash available to meet short term requirements (26 weeks)
6 weeks - Mer Fleet Services Limited
26 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 167%, this is a higher level of debt than the average (54.6%)
167% - Mer Fleet Services Limited
54.6% - Industry AVG
MER FLEET SERVICES LIMITED financials
Mer Fleet Services Limited's latest turnover from December 2022 is £5 million and the company has net assets of -£4.1 million. According to their latest financial statements, Mer Fleet Services Limited has 70 employees and maintains cash reserves of £1.3 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2022 | Dec 2021 | Mar 2021 | Dec 2019 | Dec 2018 | Dec 2017 | Apr 2017 | Apr 2016 | Apr 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | 5,011,349 | 2,382,232 | 2,317,166 | ||||||
| Other Income Or Grants | 0 | 0 | 0 | ||||||
| Cost Of Sales | 4,550,924 | 2,218,289 | 1,475,293 | ||||||
| Gross Profit | 460,425 | 163,943 | 841,873 | ||||||
| Admin Expenses | 5,305,716 | 2,050,196 | 2,160,883 | ||||||
| Operating Profit | -4,845,291 | -1,886,253 | -1,319,010 | ||||||
| Interest Payable | 207,036 | 41,733 | 81,734 | ||||||
| Interest Receivable | 1,805 | 59 | 31 | ||||||
| Pre-Tax Profit | -5,050,522 | -1,927,927 | -1,400,713 | ||||||
| Tax | 0 | 0 | -2,809 | ||||||
| Profit After Tax | -5,050,522 | -1,927,927 | -1,403,522 | ||||||
| Dividends Paid | 0 | 0 | 0 | ||||||
| Retained Profit | -5,050,522 | -1,927,927 | -1,403,522 | ||||||
| Employee Costs | 3,195,112 | ||||||||
| Number Of Employees | 70 | 52 | 30 | 18 | 12 | ||||
| EBITDA* | -4,685,945 | -1,792,687 | -1,178,264 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2022 | Dec 2021 | Mar 2021 | Dec 2019 | Dec 2018 | Dec 2017 | Apr 2017 | Apr 2016 | Apr 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 399,824 | 319,445 | 396,045 | 263,727 | 63,681 | 7,748 | 7,793 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 399,824 | 319,445 | 396,045 | 263,727 | 63,681 | 7,748 | 7,793 | 100 | 0 |
| Stock & work in progress | 2,584,044 | 307,958 | 511,839 | 181,015 | 50,535 | 32,517 | 12,010 | 0 | 0 |
| Trade Debtors | 1,455,564 | 443,773 | 657,073 | 626,660 | 204,874 | 134,404 | 82,551 | 0 | 0 |
| Group Debtors | 0 | 0 | 464,122 | 0 | 0 | 0 | 0 | 0 | 0 |
| Misc Debtors | 367,610 | 562,461 | 59,190 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash | 1,282,687 | 133,502 | 255,253 | 23,107 | 3,235 | 36,040 | 28,020 | 0 | 0 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 5,689,905 | 1,447,694 | 1,947,477 | 830,782 | 258,644 | 202,961 | 122,581 | 0 | 0 |
| total assets | 6,089,729 | 1,767,139 | 2,343,522 | 1,094,509 | 322,325 | 210,709 | 130,374 | 100 | 0 |
| Bank overdraft | 0 | 111,206 | 133,054 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 2,537,944 | 973,787 | 671,780 | 779,568 | 234,417 | 143,570 | 104,039 | 0 | 0 |
| Group/Directors Accounts | 0 | 728,112 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other short term finances | 1 | 119,806 | 193,509 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 33,782 | 46,804 | 39,244 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 7,505,505 | 1,225,388 | 775,545 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current liabilities | 10,077,232 | 3,205,103 | 1,813,132 | 779,568 | 234,417 | 143,570 | 104,039 | 0 | 0 |
| loans | 0 | 271,455 | 274,331 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 90,326 | 117,890 | 155,441 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 0 | 0 | 0 | 288,133 | 75,372 | 45,992 | 15,992 | 0 | 0 |
| provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 90,326 | 389,345 | 429,772 | 288,133 | 75,372 | 45,992 | 15,992 | 0 | 0 |
| total liabilities | 10,167,558 | 3,594,448 | 2,242,904 | 1,067,701 | 309,789 | 189,562 | 120,031 | 0 | 0 |
| net assets | -4,077,829 | -1,827,309 | 100,618 | 26,808 | 12,536 | 21,147 | 10,343 | 100 | 0 |
| total shareholders funds | -4,077,829 | -1,827,309 | 100,618 | 26,808 | 12,536 | 21,147 | 10,343 | 100 | 0 |
| Dec 2022 | Dec 2021 | Mar 2021 | Dec 2019 | Dec 2018 | Dec 2017 | Apr 2017 | Apr 2016 | Apr 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||
| Operating Profit | -4,845,291 | -1,886,253 | -1,319,010 | ||||||
| Depreciation | 159,346 | 93,566 | 140,746 | 6,578 | 7,254 | 1,497 | |||
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Tax | 0 | 0 | -2,809 | ||||||
| Stock | 2,276,086 | 307,958 | 511,839 | 130,480 | 18,018 | 32,517 | 12,010 | 0 | 0 |
| Debtors | 816,940 | 1,006,234 | 1,180,385 | 421,786 | 70,470 | 134,404 | 82,551 | 0 | 0 |
| Creditors | 1,564,157 | 973,787 | 671,780 | 545,151 | 90,847 | 143,570 | 104,039 | 0 | 0 |
| Accruals and Deferred Income | 6,280,117 | 1,225,388 | 775,545 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes & Provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow from operations | 65,303 | -907,704 | -1,425,972 | ||||||
| Investing Activities | |||||||||
| capital expenditure | |||||||||
| Change in Investments | 0 | 0 | 0 | 0 | 0 | -100 | -100 | 100 | 0 |
| cash flow from investments | |||||||||
| Financing Activities | |||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | -728,112 | 728,112 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Short Term Loans | -119,805 | 119,806 | 193,509 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | -271,455 | 271,455 | 274,331 | 0 | 0 | 0 | 0 | 0 | 0 |
| Hire Purchase and Lease Commitments | -40,586 | 164,694 | 194,685 | 0 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | 0 | 0 | 212,761 | 29,380 | 45,992 | 15,992 | 0 | 0 |
| share issue | |||||||||
| interest | -205,231 | -41,674 | -81,703 | ||||||
| cash flow from financing | 1,434,813 | 1,343,011 | 2,084,962 | ||||||
| cash and cash equivalents | |||||||||
| cash | 1,149,185 | 133,502 | 255,253 | 19,872 | -32,805 | 36,040 | 28,020 | 0 | 0 |
| overdraft | -111,206 | 111,206 | 133,054 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | 1,260,391 | 22,296 | 122,199 | 19,872 | -32,805 | 36,040 | 28,020 | 0 | 0 |
mer fleet services limited Credit Report and Business Information
Mer Fleet Services Limited Competitor Analysis
Perform a competitor analysis for mer fleet services limited by selecting its closest rivals, whether from the PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES sector, other mid companies, companies in EC2N area or any other competitors across 12 key performance metrics.
mer fleet services limited Ownership
MER FLEET SERVICES LIMITED group structure
Mer Fleet Services Limited has 1 subsidiary company.
Ultimate parent company
MER AS
#0162650
2 parents
MER FLEET SERVICES LIMITED
09002413
1 subsidiary
mer fleet services limited directors
Mer Fleet Services Limited currently has 3 directors. The longest serving directors include Mr Kristoffer Thoner (Feb 2022) and Mr Ole Thorsnes (Apr 2022).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Kristoffer Thoner | United Kingdom | 47 years | Feb 2022 | - | Director |
| Mr Ole Thorsnes | United Kingdom | 41 years | Apr 2022 | - | Director |
| Mr Alex Hinchcliffe | United Kingdom | 48 years | Oct 2023 | - | Director |
P&L
December 2022turnover
5m
+110%
operating profit
-4.8m
+157%
gross margin
9.2%
+33.5%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2022net assets
-4.1m
+1.23%
total assets
6.1m
+2.45%
cash
1.3m
+8.61%
net assets
Total assets minus all liabilities
Similar Companies
mer fleet services limited company details
company number
09002413
Type
Private limited with Share Capital
industry
74909 - Other professional, scientific and technical activities (not including environmental consultancy or quantity surveying) n.e.c.
incorporation date
April 2014
age
10
incorporated
UK
accounts
Medium Company
ultimate parent company
previous names
elmtronics ltd (March 2022)
last accounts submitted
December 2022
address
19th floor 22 bishopsgate, london, EC2N 4BQ
accountant
-
auditor
DELOITTE LLP
mer fleet services 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 mer fleet services limited. Currently there are 0 open charges and 2 have been satisfied in the past.
mer fleet services limited Companies House Filings - See Documents
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