michell bearings limited
michell bearings limited Company Information
Company Number
09390648
Next Accounts
Aug 2025
Shareholders
british engines (uk) limited
malpani holdings llp
Group Structure
View All
Industry
Manufacture of bearings, gears, gearing and driving elements
Registered Address
11 glasshouse street, st. peters, newcastle upon tyne, tyne and wear, NE6 1BS
Website
www.michellbearings.commichell bearings limited Estimated Valuation
Pomanda estimates the enterprise value of MICHELL BEARINGS LIMITED at £38.3m based on a Turnover of £19.5m and 1.97x industry multiple (adjusted for size and gross margin).
michell bearings limited Estimated Valuation
Pomanda estimates the enterprise value of MICHELL BEARINGS LIMITED at £53.9m based on an EBITDA of £3.4m and a 15.69x industry multiple (adjusted for size and gross margin).
michell bearings limited Estimated Valuation
Pomanda estimates the enterprise value of MICHELL BEARINGS LIMITED at £43.7m based on Net Assets of £18.8m and 2.32x industry multiple (adjusted for liquidity).
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Michell Bearings Limited Overview
Michell Bearings Limited is a live company located in newcastle upon tyne, NE6 1BS with a Companies House number of 09390648. It operates in the manufacture of bearings, gears, gearing and driving elements sector, SIC Code 28150. Founded in January 2015, it's largest shareholder is british engines (uk) limited with a 74% stake. Michell Bearings Limited is a established, mid sized company, Pomanda has estimated its turnover at £19.5m with declining growth in recent years.
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Michell Bearings Limited Health Check
Pomanda's financial health check has awarded Michell Bearings Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 3 areas for improvement. Company Health Check FAQs
5 Strong
4 Regular
3 Weak
Size
annual sales of £19.5m, make it larger than the average company (£15.9m)
£19.5m - Michell Bearings Limited
£15.9m - Industry AVG
Growth
3 year (CAGR) sales growth of -9%, show it is growing at a slower rate (3.1%)
-9% - Michell Bearings Limited
3.1% - Industry AVG
Production
with a gross margin of 31.9%, this company has a comparable cost of product (27.8%)
31.9% - Michell Bearings Limited
27.8% - Industry AVG
Profitability
an operating margin of 14.7% make it more profitable than the average company (6.3%)
14.7% - Michell Bearings Limited
6.3% - Industry AVG
Employees
with 111 employees, this is above the industry average (81)
111 - Michell Bearings Limited
81 - Industry AVG
Pay Structure
on an average salary of £50.8k, the company has an equivalent pay structure (£50.8k)
£50.8k - Michell Bearings Limited
£50.8k - Industry AVG
Efficiency
resulting in sales per employee of £175.5k, this is equally as efficient (£196.3k)
£175.5k - Michell Bearings Limited
£196.3k - Industry AVG
Debtor Days
it gets paid by customers after 48 days, this is near the average (50 days)
48 days - Michell Bearings Limited
50 days - Industry AVG
Creditor Days
its suppliers are paid after 17 days, this is quicker than average (25 days)
17 days - Michell Bearings Limited
25 days - Industry AVG
Stock Days
it holds stock equivalent to 91 days, this is less than average (117 days)
91 days - Michell Bearings Limited
117 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 4 weeks, this is less cash available to meet short term requirements (9 weeks)
4 weeks - Michell Bearings Limited
9 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 24.2%, this is a lower level of debt than the average (41.2%)
24.2% - Michell Bearings Limited
41.2% - Industry AVG
MICHELL BEARINGS LIMITED financials
Michell Bearings Limited's latest turnover from November 2023 is £19.5 million and the company has net assets of £18.8 million. According to their latest financial statements, Michell Bearings Limited has 111 employees and maintains cash reserves of £458 thousand as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Nov 2023 | Nov 2022 | Oct 2021 | Oct 2020 | Apr 2019 | Apr 2018 | Apr 2017 | Apr 2016 | |
|---|---|---|---|---|---|---|---|---|
| Turnover | 19,475,039 | 15,902,382 | 16,834,186 | 26,206,713 | 16,086,000 | 15,310,000 | 17,088,000 | 6,967,000 |
| Other Income Or Grants | -153,222 | |||||||
| Cost Of Sales | 13,256,811 | 9,473,058 | 10,883,806 | 18,242,667 | 9,516,000 | 8,228,000 | 10,231,000 | 4,840,000 |
| Gross Profit | 6,218,228 | 6,429,324 | 5,950,380 | 7,810,824 | 6,570,000 | 7,082,000 | 6,857,000 | 2,127,000 |
| Admin Expenses | 3,352,371 | 3,082,994 | 3,516,451 | 4,721,278 | 3,611,000 | 4,028,000 | 4,220,000 | 2,748,000 |
| Operating Profit | 2,865,857 | 3,346,330 | 2,433,929 | 3,089,546 | 2,959,000 | 3,054,000 | 2,637,000 | -621,000 |
| Interest Payable | 8,507 | 17,690 | 21,815 | 30,473 | 14,000 | 13,000 | 2,000 | |
| Interest Receivable | 883,323 | 329,370 | 156,269 | 271,166 | 90,000 | 58,000 | 49,000 | |
| Pre-Tax Profit | 3,740,673 | 3,658,010 | 2,568,383 | 3,330,239 | 3,035,000 | 3,099,000 | 2,684,000 | -621,000 |
| Tax | -908,815 | -661,666 | -558,253 | -574,285 | -600,000 | -589,000 | -551,000 | 93,000 |
| Profit After Tax | 2,831,858 | 2,996,344 | 2,010,130 | 2,755,954 | 2,435,000 | 2,510,000 | 2,133,000 | -528,000 |
| Dividends Paid | 999,657 | 652,407 | 1,000,000 | 850,000 | ||||
| Retained Profit | 2,831,858 | 2,996,344 | 1,010,473 | 2,103,547 | 1,435,000 | 1,660,000 | 2,133,000 | -528,000 |
| Employee Costs | 5,640,850 | 5,328,164 | 5,250,562 | 8,545,774 | 5,497,000 | 5,335,000 | 5,956,000 | 3,305,000 |
| Number Of Employees | 111 | 113 | 117 | 131 | 129 | 126 | 138 | 170 |
| EBITDA* | 3,438,594 | 3,927,572 | 2,969,400 | 3,898,797 | 3,470,000 | 3,503,000 | 2,893,000 | -520,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Nov 2023 | Nov 2022 | Oct 2021 | Oct 2020 | Apr 2019 | Apr 2018 | Apr 2017 | Apr 2016 | |
|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 1,456,676 | 1,587,134 | 1,736,745 | 2,020,936 | 1,798,000 | 1,969,000 | 1,564,000 | 526,000 |
| Intangible Assets | 540,642 | 713,836 | 833,755 | 1,006,038 | 1,357,000 | 1,605,000 | 1,123,000 | 1,254,000 |
| Investments & Other | 7 | 7 | 7 | |||||
| Debtors (Due After 1 year) | ||||||||
| Total Fixed Assets | 1,997,325 | 2,300,977 | 2,570,507 | 3,026,974 | 3,155,000 | 3,574,000 | 2,687,000 | 1,780,000 |
| Stock & work in progress | 3,307,274 | 3,452,849 | 1,634,120 | 2,213,320 | 2,462,000 | 1,670,000 | 760,000 | 1,762,000 |
| Trade Debtors | 2,580,323 | 1,507,116 | 4,065,802 | 3,235,841 | 3,361,000 | 3,571,000 | 3,981,000 | 3,358,000 |
| Group Debtors | 14,849,502 | 14,803,205 | 10,206,303 | 8,118,440 | 6,132,000 | 3,284,000 | 2,391,000 | 2,057,000 |
| Misc Debtors | 1,661,986 | 642,538 | 70,287 | 70,727 | 141,000 | 280,000 | 647,000 | 985,000 |
| Cash | 458,001 | 755,732 | 739,983 | 932,867 | 643,000 | 353,000 | 2,003,000 | 593,000 |
| misc current assets | ||||||||
| total current assets | 22,857,086 | 21,161,440 | 16,716,495 | 14,571,195 | 12,739,000 | 9,158,000 | 9,782,000 | 8,755,000 |
| total assets | 24,854,411 | 23,462,417 | 19,287,002 | 17,598,169 | 15,894,000 | 12,732,000 | 12,469,000 | 10,535,000 |
| Bank overdraft | ||||||||
| Bank loan | ||||||||
| Trade Creditors | 646,001 | 767,488 | 659,255 | 796,222 | 1,122,000 | 523,000 | 1,160,000 | 1,072,000 |
| Group/Directors Accounts | 1,043,750 | 198,477 | 578,948 | 812,892 | 452,000 | 262,000 | 326,000 | 123,000 |
| other short term finances | ||||||||
| hp & lease commitments | 98,685 | 131,580 | 286,155 | 357,480 | 226,000 | 226,000 | 126,000 | |
| other current liabilities | 3,971,182 | 5,135,975 | 3,407,481 | 2,140,254 | 2,804,000 | 1,686,000 | 2,689,000 | 3,818,000 |
| total current liabilities | 5,759,618 | 6,233,520 | 4,931,839 | 4,106,848 | 4,604,000 | 2,697,000 | 4,301,000 | 5,013,000 |
| loans | ||||||||
| hp & lease commitments | 98,685 | 230,265 | 516,420 | 437,000 | 663,000 | 473,000 | ||
| Accruals and Deferred Income | ||||||||
| other liabilities | ||||||||
| provisions | 259,200 | 268,877 | 259,907 | 120,383 | 103,000 | 57,000 | 40,000 | |
| total long term liabilities | 259,200 | 367,562 | 490,172 | 636,803 | 540,000 | 720,000 | 513,000 | |
| total liabilities | 6,018,818 | 6,601,082 | 5,422,011 | 4,743,651 | 5,144,000 | 3,417,000 | 4,814,000 | 5,013,000 |
| net assets | 18,835,593 | 16,861,335 | 13,864,991 | 12,854,518 | 10,750,000 | 9,315,000 | 7,655,000 | 5,522,000 |
| total shareholders funds | 18,835,593 | 16,861,335 | 13,864,991 | 12,854,518 | 10,750,000 | 9,315,000 | 7,655,000 | 5,522,000 |
| Nov 2023 | Nov 2022 | Oct 2021 | Oct 2020 | Apr 2019 | Apr 2018 | Apr 2017 | Apr 2016 | |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Operating Profit | 2,865,857 | 3,346,330 | 2,433,929 | 3,089,546 | 2,959,000 | 3,054,000 | 2,637,000 | -621,000 |
| Depreciation | 311,430 | 319,935 | 311,544 | 458,173 | 263,000 | 213,000 | 125,000 | 46,000 |
| Amortisation | 261,307 | 261,307 | 223,927 | 351,078 | 248,000 | 236,000 | 131,000 | 55,000 |
| Tax | -908,815 | -661,666 | -558,253 | -574,285 | -600,000 | -589,000 | -551,000 | 93,000 |
| Stock | -145,575 | 1,818,729 | -579,200 | -248,680 | 792,000 | 910,000 | -1,002,000 | 1,762,000 |
| Debtors | 2,138,952 | 2,610,467 | 2,917,384 | 1,791,008 | 2,499,000 | 116,000 | 619,000 | 6,400,000 |
| Creditors | -121,487 | 108,233 | -136,967 | -325,778 | 599,000 | -637,000 | 88,000 | 1,072,000 |
| Accruals and Deferred Income | -1,164,793 | 1,728,494 | 1,267,227 | -663,746 | 1,118,000 | -1,003,000 | -1,129,000 | 3,818,000 |
| Deferred Taxes & Provisions | -9,677 | 8,970 | 139,524 | 17,383 | 46,000 | 17,000 | 40,000 | |
| Cash flow from operations | -759,555 | 682,407 | 1,342,747 | 810,043 | 1,342,000 | 265,000 | 1,724,000 | -3,699,000 |
| Investing Activities | ||||||||
| capital expenditure | -92,000 | -1,315,000 | -1,065,000 | -95,000 | ||||
| Change in Investments | 7 | |||||||
| cash flow from investments | -92,000 | -1,315,000 | -1,065,000 | -95,000 | ||||
| Financing Activities | ||||||||
| Bank loans | ||||||||
| Group/Directors Accounts | 845,273 | -380,471 | -233,944 | 360,892 | 190,000 | -64,000 | 203,000 | 123,000 |
| Other Short Term Loans | ||||||||
| Long term loans | ||||||||
| Hire Purchase and Lease Commitments | -131,580 | -286,155 | -357,480 | 210,900 | -226,000 | 290,000 | 599,000 | |
| other long term liabilities | ||||||||
| share issue | ||||||||
| interest | 874,816 | 311,680 | 134,454 | 240,693 | 76,000 | 45,000 | 47,000 | |
| cash flow from financing | 730,909 | -354,946 | -456,970 | 813,456 | 40,000 | 271,000 | 849,000 | 6,173,000 |
| cash and cash equivalents | ||||||||
| cash | -297,731 | 15,749 | -192,884 | 289,867 | 290,000 | -1,650,000 | 1,410,000 | 593,000 |
| overdraft | ||||||||
| change in cash | -297,731 | 15,749 | -192,884 | 289,867 | 290,000 | -1,650,000 | 1,410,000 | 593,000 |
michell bearings limited Credit Report and Business Information
Michell Bearings Limited Competitor Analysis
Perform a competitor analysis for michell bearings limited by selecting its closest rivals, whether from the MANUFACTURING sector, other mid companies, companies in NE6 area or any other competitors across 12 key performance metrics.
michell bearings limited Ownership
MICHELL BEARINGS LIMITED group structure
Michell Bearings Limited has no subsidiary companies.
Ultimate parent company
2291 LEB LTD
#0108544
2 parents
MICHELL BEARINGS LIMITED
09390648
michell bearings limited directors
Michell Bearings Limited currently has 6 directors. The longest serving directors include Arvind Malpani (Mar 2015) and Ms Mridula Malpani (Mar 2015).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Arvind Malpani | United Kingdom | 70 years | Mar 2015 | - | Director |
| Ms Mridula Malpani | United Kingdom | 64 years | Mar 2015 | - | Director |
| Mr Richard Dodd | United Kingdom | 50 years | Mar 2015 | - | Director |
| Mr Geoffrey Humble | 54 years | May 2017 | - | Director | |
| Mr Stephen Dixon | 60 years | May 2017 | - | Director | |
| Mrs Laura Joicey | United Kingdom | 48 years | May 2018 | - | Director |
P&L
November 2023turnover
19.5m
+22%
operating profit
2.9m
-14%
gross margin
32%
-21.03%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
November 2023net assets
18.8m
+0.12%
total assets
24.9m
+0.06%
cash
458k
-0.39%
net assets
Total assets minus all liabilities
michell bearings limited company details
company number
09390648
Type
Private limited with Share Capital
industry
28150 - Manufacture of bearings, gears, gearing and driving elements
incorporation date
January 2015
age
10
incorporated
UK
ultimate parent company
accounts
Audit Exemption Subsidiary
last accounts submitted
November 2023
previous names
timec 1487 limited (May 2015)
accountant
-
auditor
-
address
11 glasshouse street, st. peters, newcastle upon tyne, tyne and wear, NE6 1BS
Bank
-
Legal Advisor
-
michell bearings 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 3 charges/mortgages relating to michell bearings limited. Currently there are 2 open charges and 1 have been satisfied in the past.
michell bearings limited Capital Raised & Share Issues BETA
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michell bearings limited Companies House Filings - See Documents
| date | description | view/download |
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