covercy europe ltd
covercy europe ltd Company Information
Company Number
09447723
Website
www.covercy.comRegistered Address
unit 5 elstree gate, elstree way, borehamwood, hertfordshire, WD6 1JD
Industry
Other business support service activities n.e.c.
Telephone
-
Next Accounts Due
September 2024
Group Structure
View All
Shareholders
covercy ltd 100%
covercy europe ltd Estimated Valuation
Pomanda estimates the enterprise value of COVERCY EUROPE LTD at £218k based on a Turnover of £389.5k and 0.56x industry multiple (adjusted for size and gross margin).
covercy europe ltd Estimated Valuation
Pomanda estimates the enterprise value of COVERCY EUROPE LTD at £242.7k based on an EBITDA of £55.3k and a 4.39x industry multiple (adjusted for size and gross margin).
covercy europe ltd Estimated Valuation
Pomanda estimates the enterprise value of COVERCY EUROPE LTD at £556.6k based on Net Assets of £245.4k and 2.27x industry multiple (adjusted for liquidity).
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Covercy Europe Ltd Overview
Covercy Europe Ltd is a live company located in borehamwood, WD6 1JD with a Companies House number of 09447723. It operates in the other business support service activities n.e.c. sector, SIC Code 82990. Founded in February 2015, it's largest shareholder is covercy ltd with a 100% stake. Covercy Europe Ltd is a young, micro sized company, Pomanda has estimated its turnover at £389.5k with declining growth in recent years.
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Covercy Europe Ltd Health Check
Pomanda's financial health check has awarded Covercy Europe Ltd a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 4 areas for improvement. Company Health Check FAQs
4 Strong
2 Regular
4 Weak
Size
annual sales of £389.5k, make it smaller than the average company (£3.8m)
- Covercy Europe Ltd
£3.8m - Industry AVG
Growth
3 year (CAGR) sales growth of -59%, show it is growing at a slower rate (3%)
- Covercy Europe Ltd
3% - Industry AVG
Production
with a gross margin of 38.8%, this company has a comparable cost of product (38.8%)
- Covercy Europe Ltd
38.8% - Industry AVG
Profitability
an operating margin of 14.2% make it more profitable than the average company (6.3%)
- Covercy Europe Ltd
6.3% - Industry AVG
Employees
with 2 employees, this is below the industry average (25)
2 - Covercy Europe Ltd
25 - Industry AVG
Pay Structure
on an average salary of £50.6k, the company has an equivalent pay structure (£50.6k)
- Covercy Europe Ltd
£50.6k - Industry AVG
Efficiency
resulting in sales per employee of £194.7k, this is more efficient (£157.6k)
- Covercy Europe Ltd
£157.6k - Industry AVG
Debtor Days
There is insufficient data available for this Key Performance Indicator!
- Covercy Europe Ltd
- - Industry AVG
Creditor Days
its suppliers are paid after 106 days, this is slower than average (33 days)
- Covercy Europe Ltd
33 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- Covercy Europe Ltd
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 29 weeks, this is more cash available to meet short term requirements (24 weeks)
29 weeks - Covercy Europe Ltd
24 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 78%, this is a higher level of debt than the average (63.6%)
78% - Covercy Europe Ltd
63.6% - Industry AVG
covercy europe ltd Credit Report and Business Information
Covercy Europe Ltd Competitor Analysis
Perform a competitor analysis for covercy europe ltd by selecting its closest rivals and benchmarking them against 12 key performance metrics.
covercy europe ltd Ownership
COVERCY EUROPE LTD group structure
Covercy Europe Ltd has no subsidiary companies.
Ultimate parent company
COVERCY LTD
#0074707
1 parent
COVERCY EUROPE LTD
09447723
covercy europe ltd directors
Covercy Europe Ltd currently has 2 directors. The longest serving directors include Mr Errol Rudnick (Feb 2015) and Mr Doron Cohen (Feb 2015).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Errol Rudnick | 68 years | Feb 2015 | - | Director | |
| Mr Doron Cohen | 40 years | Feb 2015 | - | Director |
COVERCY EUROPE LTD financials
Covercy Europe Ltd's latest turnover from December 2022 is estimated at £389.5 thousand and the company has net assets of £245.4 thousand. According to their latest financial statements, Covercy Europe Ltd has 2 employees and maintains cash reserves of £500 thousand as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Aug 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 | 2 | 2 | 3 | 3 | 3 | 2 | 2 | |
| EBITDA* |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Aug 2015 | |
|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group Debtors | 613,285 | 172,903 | 196,083 | 142,641 | 0 | 0 | 0 | 0 |
| Misc Debtors | 381 | 315 | 18,024 | 14,949 | 4,701 | 6,220 | 11,519 | 0 |
| Cash | 500,011 | 551,770 | 544,011 | 1,669,080 | 1,029,713 | 1,259,892 | 1,055,821 | 0 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 1,113,678 | 724,990 | 758,119 | 1,826,670 | 1,034,414 | 1,266,112 | 1,067,341 | 0 |
| total assets | 1,113,678 | 724,990 | 758,119 | 1,826,670 | 1,034,414 | 1,266,112 | 1,067,341 | 0 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 69,718 | 0 | 400,355 | 1,626,332 | 507,281 | 79,417 | 137,224 | 0 |
| Group/Directors Accounts | 774,815 | 476,460 | 184,418 | 92,984 | 457,892 | 1,070,713 | 858,733 | 0 |
| other short term finances | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 23,724 | 62,830 | 32,355 | 26,586 | 18,389 | 54,763 | 3,318 | 0 |
| total current liabilities | 868,258 | 539,290 | 617,128 | 1,745,903 | 983,563 | 1,204,893 | 999,276 | 0 |
| loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total liabilities | 868,258 | 539,290 | 617,128 | 1,745,903 | 983,563 | 1,204,893 | 999,276 | 0 |
| net assets | 245,420 | 185,700 | 140,991 | 80,767 | 50,852 | 61,219 | 68,065 | 0 |
| total shareholders funds | 245,420 | 185,700 | 140,991 | 80,767 | 50,852 | 61,219 | 68,065 | 0 |
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Aug 2015 | |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Operating Profit | ||||||||
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Tax | ||||||||
| Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors | 440,447 | -40,888 | 56,517 | 152,889 | -1,519 | -5,299 | 11,519 | 0 |
| Creditors | 69,718 | -400,355 | -1,225,977 | 1,119,051 | 427,864 | -57,807 | 137,224 | 0 |
| Accruals and Deferred Income | -39,106 | 30,475 | 5,769 | 8,197 | -36,374 | 51,445 | 3,318 | 0 |
| Deferred Taxes & Provisions | 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 |
| cash flow from investments | ||||||||
| Financing Activities | ||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 298,356 | 292,042 | 91,434 | -364,908 | -612,821 | 211,980 | 858,733 | 0 |
| Other Short Term Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Hire Purchase and Lease Commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| share issue | ||||||||
| interest | ||||||||
| cash flow from financing | ||||||||
| cash and cash equivalents | ||||||||
| cash | -51,759 | 7,759 | -1,125,069 | 639,366 | -230,179 | 204,071 | 1,055,821 | 0 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | -51,759 | 7,759 | -1,125,069 | 639,366 | -230,179 | 204,071 | 1,055,821 | 0 |
P&L
December 2022turnover
389.5k
+37%
operating profit
55.3k
0%
gross margin
38.9%
+3.44%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2022net assets
245.4k
+0.32%
total assets
1.1m
+0.54%
cash
500k
-0.09%
net assets
Total assets minus all liabilities
covercy europe ltd company details
company number
09447723
Type
Private limited with Share Capital
industry
82990 - Other business support service activities n.e.c.
incorporation date
February 2015
age
9
accounts
Total Exemption Full
ultimate parent company
previous names
N/A
incorporated
UK
address
unit 5 elstree gate, elstree way, borehamwood, hertfordshire, WD6 1JD
last accounts submitted
December 2022
covercy europe 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 covercy europe ltd.
covercy europe ltd Companies House Filings - See Documents
| date | description | view/download |
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