ipn topco limited
ipn topco limited Company Information
Company Number
09458510
Next Accounts
Jan 2025
Industry
Manufacture of prepared pet foods
Shareholders
dalton bidco limited
Group Structure
View All
Contact
Registered Address
c/o inspired pet nutrition limit, dalton airfield, thirsk, YO7 3HE
Website
ipn.co.ukipn topco limited Estimated Valuation
Pomanda estimates the enterprise value of IPN TOPCO LIMITED at £151.2m based on a Turnover of £108.9m and 1.39x industry multiple (adjusted for size and gross margin).
ipn topco limited Estimated Valuation
Pomanda estimates the enterprise value of IPN TOPCO LIMITED at £187m based on an EBITDA of £20.1m and a 9.31x industry multiple (adjusted for size and gross margin).
ipn topco limited Estimated Valuation
Pomanda estimates the enterprise value of IPN TOPCO LIMITED at £0 based on Net Assets of £-43.4m and 1.99x industry multiple (adjusted for liquidity).
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Ipn Topco Limited Overview
Ipn Topco Limited is a dissolved company that was located in thirsk, YO7 3HE with a Companies House number of 09458510. It operated in the manufacture of prepared pet foods sector, SIC Code 10920. Founded in February 2015, it's largest shareholder was dalton bidco limited with a 100% stake. The last turnover for Ipn Topco Limited was estimated at £108.9m.
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Ipn Topco Limited Health Check
Pomanda's financial health check has awarded Ipn Topco Limited a 4 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
4 Regular
4 Weak
Size
annual sales of £108.9m, make it larger than the average company (£21m)
£108.9m - Ipn Topco Limited
£21m - Industry AVG
Growth
3 year (CAGR) sales growth of 11%, show it is growing at a faster rate (6.1%)
11% - Ipn Topco Limited
6.1% - Industry AVG
Production
with a gross margin of 31.1%, this company has a comparable cost of product (28%)
31.1% - Ipn Topco Limited
28% - Industry AVG
Profitability
an operating margin of 4.2% make it less profitable than the average company (6%)
4.2% - Ipn Topco Limited
6% - Industry AVG
Employees
with 262 employees, this is above the industry average (68)
262 - Ipn Topco Limited
68 - Industry AVG
Pay Structure
on an average salary of £47.9k, the company has a higher pay structure (£33.2k)
£47.9k - Ipn Topco Limited
£33.2k - Industry AVG
Efficiency
resulting in sales per employee of £415.7k, this is more efficient (£264.4k)
£415.7k - Ipn Topco Limited
£264.4k - Industry AVG
Debtor Days
it gets paid by customers after 44 days, this is near the average (44 days)
44 days - Ipn Topco Limited
44 days - Industry AVG
Creditor Days
its suppliers are paid after 39 days, this is close to average (41 days)
39 days - Ipn Topco Limited
41 days - Industry AVG
Stock Days
it holds stock equivalent to 53 days, this is more than average (42 days)
53 days - Ipn Topco Limited
42 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 8 weeks, this is average cash available to meet short term requirements (9 weeks)
8 weeks - Ipn Topco Limited
9 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 141.8%, this is a higher level of debt than the average (49.1%)
141.8% - Ipn Topco Limited
49.1% - Industry AVG
IPN TOPCO LIMITED financials
Ipn Topco Limited's latest turnover from June 2020 is £108.9 million and the company has net assets of -£43.4 million. According to their latest financial statements, Ipn Topco Limited has 262 employees and maintains cash reserves of £3.9 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Jun 2020 | Jun 2019 | Jun 2018 | Jun 2017 | Jun 2016 | |
|---|---|---|---|---|---|
| Turnover | 108,909,960 | 96,310,543 | 93,177,458 | 79,648,166 | 87,196,841 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 75,088,851 | 72,577,281 | 69,468,266 | 56,448,793 | 59,609,660 |
| Gross Profit | 33,821,109 | 23,733,262 | 23,709,192 | 23,199,373 | 27,587,181 |
| Admin Expenses | 29,265,858 | 29,401,427 | 27,048,366 | 24,329,690 | 27,792,129 |
| Operating Profit | 4,555,251 | -5,668,165 | -3,339,174 | -1,130,317 | -204,948 |
| Interest Payable | 7,327,506 | 7,088,221 | 6,757,166 | 6,368,002 | 8,419,674 |
| Interest Receivable | 921 | 21,825 | 348 | 8,436 | 92,269 |
| Pre-Tax Profit | -2,771,334 | -12,734,561 | -10,095,992 | -7,489,883 | -8,287,210 |
| Tax | -1,592,462 | 456,127 | -277,116 | 509,787 | -1,216,692 |
| Profit After Tax | -4,363,796 | -12,278,434 | -10,373,108 | -6,980,096 | -9,503,902 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Retained Profit | -4,363,796 | -12,278,434 | -10,373,108 | -6,980,096 | -9,503,902 |
| Employee Costs | 12,561,091 | 10,488,806 | 9,213,298 | 7,487,543 | 8,191,401 |
| Number Of Employees | 262 | 238 | 220 | 172 | 164 |
| EBITDA* | 20,096,966 | 9,917,344 | 11,724,164 | 12,732,590 | 16,503,143 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Jun 2020 | Jun 2019 | Jun 2018 | Jun 2017 | Jun 2016 | |
|---|---|---|---|---|---|
| Tangible Assets | 30,518,613 | 32,963,203 | 34,268,370 | 30,689,499 | 25,309,801 |
| Intangible Assets | 43,966,217 | 53,235,939 | 62,480,660 | 71,747,604 | 81,014,548 |
| Investments & Other | 0 | 0 | 0 | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 74,484,830 | 86,199,142 | 96,749,030 | 102,437,103 | 106,324,349 |
| Stock & work in progress | 10,945,666 | 8,594,393 | 6,371,305 | 5,272,961 | 4,209,960 |
| Trade Debtors | 13,194,879 | 12,532,242 | 12,348,025 | 14,622,827 | 12,233,899 |
| Group Debtors | 0 | 0 | 0 | 0 | 0 |
| Misc Debtors | 1,339,484 | 998,404 | 1,293,829 | 1,427,835 | 685,033 |
| Cash | 3,852,981 | 471,684 | 321,491 | 347,564 | 1,440,722 |
| misc current assets | 0 | 0 | 0 | 0 | 0 |
| total current assets | 29,333,010 | 22,596,723 | 20,334,650 | 21,671,187 | 18,569,614 |
| total assets | 103,817,840 | 108,795,865 | 117,083,680 | 124,108,290 | 124,893,963 |
| Bank overdraft | 1,430,441 | 6,023,777 | 2,282,756 | 2,451,346 | 791,839 |
| Bank loan | 3,179,158 | 772,208 | 1,572,208 | 1,172,208 | 1,572,208 |
| Trade Creditors | 8,085,988 | 8,006,116 | 12,197,209 | 10,147,472 | 6,731,325 |
| Group/Directors Accounts | 1,124,420 | 1,081,986 | 1,135,694 | 761,691 | 868,749 |
| other short term finances | 0 | 44,129 | 0 | 0 | 0 |
| hp & lease commitments | 4,900 | 4,900 | 4,900 | 4,900 | 0 |
| other current liabilities | 9,216,248 | 5,557,463 | 5,146,470 | 7,140,831 | 7,612,835 |
| total current liabilities | 23,041,155 | 21,490,579 | 22,339,237 | 21,678,448 | 17,576,956 |
| loans | 121,243,977 | 122,579,086 | 116,451,142 | 114,092,017 | 111,159,737 |
| hp & lease commitments | 4,083 | 8,983 | 13,883 | 18,784 | 0 |
| Accruals and Deferred Income | 839,509 | 659,638 | 506,646 | 338,615 | 183,264 |
| other liabilities | 0 | 0 | 0 | 0 | 0 |
| provisions | 2,095,719 | 2,788,837 | 3,554,654 | 3,406,194 | 4,479,312 |
| total long term liabilities | 124,183,288 | 126,036,544 | 120,526,325 | 117,855,610 | 115,822,313 |
| total liabilities | 147,224,443 | 147,527,123 | 142,865,562 | 139,534,058 | 133,399,269 |
| net assets | -43,406,603 | -38,731,258 | -25,781,882 | -15,425,768 | -8,505,306 |
| total shareholders funds | -43,406,603 | -38,731,258 | -25,781,882 | -15,425,768 | -8,505,306 |
| Jun 2020 | Jun 2019 | Jun 2018 | Jun 2017 | Jun 2016 | |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Operating Profit | 4,555,251 | -5,668,165 | -3,339,174 | -1,130,317 | -204,948 |
| Depreciation | 6,271,993 | 6,315,788 | 5,796,394 | 4,595,963 | 5,053,197 |
| Amortisation | 9,269,722 | 9,269,721 | 9,266,944 | 9,266,944 | 11,654,894 |
| Tax | -1,592,462 | 456,127 | -277,116 | 509,787 | -1,216,692 |
| Stock | 2,351,273 | 2,223,088 | 1,098,344 | 1,063,001 | 4,209,960 |
| Debtors | 1,003,717 | -111,208 | -2,408,808 | 3,131,730 | 12,918,932 |
| Creditors | 79,872 | -4,191,093 | 2,049,737 | 3,416,147 | 6,731,325 |
| Accruals and Deferred Income | 3,838,656 | 563,985 | -1,826,330 | -316,653 | 7,796,099 |
| Deferred Taxes & Provisions | -693,118 | -765,817 | 148,460 | -1,073,118 | 4,479,312 |
| Cash flow from operations | 18,374,924 | 3,868,666 | 13,129,379 | 11,074,022 | 17,164,295 |
| Investing Activities | |||||
| capital expenditure | 0 | -5,034,757 | -9,369,452 | -9,948,552 | -9,048,040 |
| Change in Investments | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | 0 | -5,034,757 | -9,369,452 | -9,948,552 | -9,048,040 |
| Financing Activities | |||||
| Bank loans | 2,406,950 | -800,000 | 400,000 | -400,000 | 1,572,208 |
| Group/Directors Accounts | 42,434 | -53,708 | 374,003 | -107,058 | 868,749 |
| Other Short Term Loans | -44,129 | 44,129 | 0 | 0 | 0 |
| Long term loans | -1,335,109 | 6,127,944 | 2,359,125 | 2,932,280 | 111,159,737 |
| Hire Purchase and Lease Commitments | -4,900 | -4,900 | -4,901 | 23,684 | 0 |
| other long term liabilities | 0 | 0 | 0 | 0 | 0 |
| share issue | |||||
| interest | -7,326,585 | -7,066,396 | -6,756,818 | -6,359,566 | -8,327,405 |
| cash flow from financing | -6,572,888 | -2,423,873 | -3,611,597 | -3,851,026 | 106,271,885 |
| cash and cash equivalents | |||||
| cash | 3,381,297 | 150,193 | -26,073 | -1,093,158 | 1,440,722 |
| overdraft | -4,593,336 | 3,741,021 | -168,590 | 1,659,507 | 791,839 |
| change in cash | 7,974,633 | -3,590,828 | 142,517 | -2,752,665 | 648,883 |
ipn topco limited Credit Report and Business Information
Ipn Topco Limited Competitor Analysis
Perform a competitor analysis for ipn topco limited by selecting its closest rivals, whether from the MANUFACTURING sector, other undefined companies, companies in YO7 area or any other competitors across 12 key performance metrics.
ipn topco limited Ownership
IPN TOPCO LIMITED group structure
Ipn Topco Limited has 1 subsidiary company.
Ultimate parent company
2 parents
IPN TOPCO LIMITED
09458510
1 subsidiary
ipn topco limited directors
Ipn Topco Limited currently has 3 directors. The longest serving directors include Mr Richard Page (Mar 2015) and Mr Anthony Stones (Dec 2020).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Richard Page | 58 years | Mar 2015 | - | Director | |
| Mr Anthony Stones | 37 years | Dec 2020 | - | Director | |
| Mr James Lawson | England | 49 years | Dec 2020 | - | Director |
P&L
June 2020turnover
108.9m
+13%
operating profit
4.6m
-180%
gross margin
31.1%
+26.02%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
June 2020net assets
-43.4m
+0.12%
total assets
103.8m
-0.05%
cash
3.9m
+7.17%
net assets
Total assets minus all liabilities
ipn topco limited company details
company number
09458510
Type
Private limited with Share Capital
industry
10920 - Manufacture of prepared pet foods
incorporation date
February 2015
age
10
incorporated
UK
ultimate parent company
accounts
Group
last accounts submitted
June 2020
previous names
wagg topco limited (May 2016)
accountant
-
auditor
KPMG LLP
address
c/o inspired pet nutrition limit, dalton airfield, thirsk, YO7 3HE
Bank
-
Legal Advisor
-
ipn topco 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 ipn topco limited.
ipn topco 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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ipn topco limited Companies House Filings - See Documents
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