midas financials ltd
midas financials ltd Company Information
Company Number
09370216
Next Accounts
Sep 2025
Shareholders
imran patel
kunal patel
Group Structure
View All
Industry
Bookkeeping activities
+2Registered Address
20-22 wenlock road, london, N1 7GU
Website
www.midasfinancials.commidas financials ltd Estimated Valuation
Pomanda estimates the enterprise value of MIDAS FINANCIALS LTD at £196.4k based on a Turnover of £235.3k and 0.83x industry multiple (adjusted for size and gross margin).
midas financials ltd Estimated Valuation
Pomanda estimates the enterprise value of MIDAS FINANCIALS LTD at £0 based on an EBITDA of £-5.5k and a 4.93x industry multiple (adjusted for size and gross margin).
midas financials ltd Estimated Valuation
Pomanda estimates the enterprise value of MIDAS FINANCIALS LTD at £9.4k based on Net Assets of £2.6k and 3.65x industry multiple (adjusted for liquidity).
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Midas Financials Ltd Overview
Midas Financials Ltd is a live company located in london, N1 7GU with a Companies House number of 09370216. It operates in the bookkeeping activities sector, SIC Code 69202. Founded in December 2014, it's largest shareholder is imran patel with a 50% stake. Midas Financials Ltd is a established, micro sized company, Pomanda has estimated its turnover at £235.3k with rapid growth in recent years.
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Midas Financials Ltd Health Check
Pomanda's financial health check has awarded Midas Financials Ltd a 4 rating. We use a traffic light system to show it exceeds the industry average on 2 measures and has 1 areas for improvement. Company Health Check FAQs
2 Strong
6 Regular
1 Weak
Size
annual sales of £235.3k, make it in line with the average company (£242.4k)
- Midas Financials Ltd
£242.4k - Industry AVG
Growth
3 year (CAGR) sales growth of 55%, show it is growing at a faster rate (6.2%)
- Midas Financials Ltd
6.2% - Industry AVG
Production
with a gross margin of 79.9%, this company has a comparable cost of product (79.9%)
- Midas Financials Ltd
79.9% - Industry AVG
Profitability
an operating margin of -2.5% make it less profitable than the average company (6.9%)
- Midas Financials Ltd
6.9% - Industry AVG
Employees
with 3 employees, this is similar to the industry average (3)
3 - Midas Financials Ltd
3 - Industry AVG
Pay Structure
on an average salary of £38k, the company has an equivalent pay structure (£38k)
- Midas Financials Ltd
£38k - Industry AVG
Efficiency
resulting in sales per employee of £78.4k, this is equally as efficient (£78.4k)
- Midas Financials Ltd
£78.4k - Industry AVG
Debtor Days
There is insufficient data available for this Key Performance Indicator!
- Midas Financials Ltd
- - Industry AVG
Creditor Days
There is insufficient data available for this Key Performance Indicator!
- Midas Financials Ltd
- - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- Midas Financials Ltd
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 92 weeks, this is more cash available to meet short term requirements (33 weeks)
92 weeks - Midas Financials Ltd
33 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 56.1%, this is a similar level of debt than the average (58.4%)
56.1% - Midas Financials Ltd
58.4% - Industry AVG
MIDAS FINANCIALS LTD financials
Midas Financials Ltd's latest turnover from December 2023 is estimated at £235.3 thousand and the company has net assets of £2.6 thousand. According to their latest financial statements, Midas Financials Ltd has 3 employees and maintains cash reserves of £5.9 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 | |
|---|---|---|---|---|---|---|---|---|---|
| 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 | 3 | 2 | 2 | 1 | 1 | 1 | 1 | ||
| EBITDA* |
* 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 | |
|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 0 | 417 | 1,060 | 1,703 | 840 | 351 | 526 | 702 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 0 | 417 | 1,060 | 1,703 | 840 | 351 | 526 | 702 | 0 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 0 | 0 | 0 | 0 | 0 | 2,550 | 4,200 | 900 | 0 |
| Group Debtors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Misc Debtors | 0 | 990 | 963 | 941 | 718 | 648 | 0 | 0 | 0 |
| Cash | 5,876 | 11,531 | 10,211 | 6,017 | 1,683 | 198 | 7 | 196 | 113 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 5,876 | 12,521 | 11,174 | 6,958 | 2,401 | 3,396 | 4,207 | 1,096 | 113 |
| total assets | 5,876 | 12,938 | 12,234 | 8,661 | 3,241 | 3,747 | 4,733 | 1,798 | 113 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 1,580 | 4,540 | 3,500 | 4,200 | 4,600 | 4,000 | 5,600 | 3,000 | 0 |
| other short term finances | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 1,718 | 398 | 1,790 | 503 | 0 | 0 | 0 | 0 | 0 |
| total current liabilities | 3,298 | 4,938 | 5,290 | 4,703 | 4,600 | 4,000 | 5,600 | 3,000 | 0 |
| loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total liabilities | 3,298 | 4,938 | 5,290 | 4,703 | 4,600 | 4,000 | 5,600 | 3,000 | 0 |
| net assets | 2,578 | 8,000 | 6,944 | 3,958 | -1,359 | -253 | -867 | -1,202 | 113 |
| total shareholders funds | 2,578 | 8,000 | 6,944 | 3,958 | -1,359 | -253 | -867 | -1,202 | 113 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||
| Operating Profit | |||||||||
| Depreciation | 417 | 643 | 643 | 643 | 342 | 175 | 176 | 176 | 0 |
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tax | |||||||||
| Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors | -990 | 27 | 22 | 223 | -2,480 | -1,002 | 3,300 | 900 | 0 |
| Creditors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 1,320 | -1,392 | 1,287 | 503 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes & Provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow from operations | |||||||||
| Investing Activities | |||||||||
| capital expenditure | |||||||||
| Change in Investments | 0 | 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 |
| Group/Directors Accounts | -2,960 | 1,040 | -700 | -400 | 600 | -1,600 | 2,600 | 3,000 | 0 |
| Other Short Term Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Hire Purchase and Lease Commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| share issue | |||||||||
| interest | |||||||||
| cash flow from financing | |||||||||
| cash and cash equivalents | |||||||||
| cash | -5,655 | 1,320 | 4,194 | 4,334 | 1,485 | 191 | -189 | 83 | 113 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | -5,655 | 1,320 | 4,194 | 4,334 | 1,485 | 191 | -189 | 83 | 113 |
midas financials ltd Credit Report and Business Information
Midas Financials Ltd Competitor Analysis
Perform a competitor analysis for midas financials ltd by selecting its closest rivals, whether from the PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES sector, other micro companies, companies in N 1 area or any other competitors across 12 key performance metrics.
midas financials ltd Ownership
MIDAS FINANCIALS LTD group structure
Midas Financials Ltd has no subsidiary companies.
Ultimate parent company
MIDAS FINANCIALS LTD
09370216
midas financials ltd directors
Midas Financials Ltd currently has 2 directors. The longest serving directors include Mr Kunal Patel (Dec 2014) and Mr Imran Patel (Dec 2014).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Kunal Patel | United Kingdom | 41 years | Dec 2014 | - | Director |
| Mr Imran Patel | England | 39 years | Dec 2014 | - | Director |
P&L
December 2023turnover
235.3k
+70%
operating profit
-5.9k
0%
gross margin
79.9%
-2.35%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
2.6k
-0.68%
total assets
5.9k
-0.55%
cash
5.9k
-0.49%
net assets
Total assets minus all liabilities
midas financials ltd company details
company number
09370216
Type
Private limited with Share Capital
industry
69201 - Accounting, and auditing activities
69202 - Bookkeeping activities
69203 - Tax consultancy
incorporation date
December 2014
age
11
incorporated
UK
ultimate parent company
accounts
Total Exemption Full
last accounts submitted
December 2023
previous names
muhaasib solutions ltd (March 2016)
accountant
-
auditor
-
address
20-22 wenlock road, london, N1 7GU
Bank
-
Legal Advisor
-
midas financials ltd 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 midas financials ltd.
midas financials ltd 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.
Click to start generating capital raising & share issue transactions for MIDAS FINANCIALS LTD. This can take several minutes, an email will notify you when this has completed.
midas financials ltd Companies House Filings - See Documents
| date | description | view/download |
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