millfield composites group limited
millfield composites group limited Company Information
Company Number
09492612
Website
http://millfield-group.co.ukRegistered Address
16, shelley road, newburn industrial, newcastle upon tyne, england, NE15 9RT
Industry
Activities of head offices
Telephone
01912648541
Next Accounts Due
December 2024
Group Structure
View All
Shareholders
jonathan andrew dodd 83.3%
rachel cornelius 16.7%
millfield composites group limited Estimated Valuation
Pomanda estimates the enterprise value of MILLFIELD COMPOSITES GROUP LIMITED at £24m based on a Turnover of £6.5m and 3.69x industry multiple (adjusted for size and gross margin).
millfield composites group limited Estimated Valuation
Pomanda estimates the enterprise value of MILLFIELD COMPOSITES GROUP LIMITED at £6.3m based on an EBITDA of £988.8k and a 6.39x industry multiple (adjusted for size and gross margin).
millfield composites group limited Estimated Valuation
Pomanda estimates the enterprise value of MILLFIELD COMPOSITES GROUP LIMITED at £24.9m based on Net Assets of £6.8m and 3.66x industry multiple (adjusted for liquidity).
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Millfield Composites Group Limited Overview
Millfield Composites Group Limited is a live company located in newcastle upon tyne, NE15 9RT with a Companies House number of 09492612. It operates in the activities of head offices sector, SIC Code 70100. Founded in March 2015, it's largest shareholder is jonathan andrew dodd with a 83.3% stake. Millfield Composites Group Limited is a young, mid sized company, Pomanda has estimated its turnover at £6.5m with declining growth in recent years.
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Millfield Composites Group Limited Health Check
Pomanda's financial health check has awarded Millfield Composites Group Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 6 areas for improvement. Company Health Check FAQs
6 Strong
0 Regular
6 Weak
Size
annual sales of £6.5m, make it smaller than the average company (£20.2m)
£6.5m - Millfield Composites Group Limited
£20.2m - Industry AVG
Growth
3 year (CAGR) sales growth of -7%, show it is growing at a slower rate (4.4%)
-7% - Millfield Composites Group Limited
4.4% - Industry AVG
Production
with a gross margin of 41.8%, this company has a lower cost of product (32.7%)
41.8% - Millfield Composites Group Limited
32.7% - Industry AVG
Profitability
an operating margin of 14.8% make it more profitable than the average company (5.9%)
14.8% - Millfield Composites Group Limited
5.9% - Industry AVG
Employees
with 65 employees, this is below the industry average (120)
65 - Millfield Composites Group Limited
120 - Industry AVG
Pay Structure
on an average salary of £33.6k, the company has a lower pay structure (£45.4k)
£33.6k - Millfield Composites Group Limited
£45.4k - Industry AVG
Efficiency
resulting in sales per employee of £99.8k, this is less efficient (£186.2k)
£99.8k - Millfield Composites Group Limited
£186.2k - Industry AVG
Debtor Days
it gets paid by customers after 88 days, this is later than average (46 days)
88 days - Millfield Composites Group Limited
46 days - Industry AVG
Creditor Days
its suppliers are paid after 62 days, this is slower than average (45 days)
62 days - Millfield Composites Group Limited
45 days - Industry AVG
Stock Days
it holds stock equivalent to 135 days, this is more than average (48 days)
135 days - Millfield Composites Group Limited
48 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 87 weeks, this is more cash available to meet short term requirements (16 weeks)
87 weeks - Millfield Composites Group Limited
16 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 14.7%, this is a lower level of debt than the average (57%)
14.7% - Millfield Composites Group Limited
57% - Industry AVG
MILLFIELD COMPOSITES GROUP LIMITED financials
Millfield Composites Group Limited's latest turnover from March 2023 is £6.5 million and the company has net assets of £6.8 million. According to their latest financial statements, Millfield Composites Group Limited has 65 employees and maintains cash reserves of £1.7 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | 6,487,868 | 5,393,859 | 4,152,186 | 8,131,769 | 11,337,056 | 7,958,319 | 4,885,514 | 5,968,003 | 5,165,938 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 3,779,326 | 3,034,472 | 3,004,587 | 5,472,900 | 7,019,602 | 4,852,404 | 3,162,056 | 3,547,545 | 3,509,351 |
| Gross Profit | 2,708,542 | 2,359,387 | 1,147,599 | 2,658,869 | 4,317,454 | 3,105,915 | 1,723,458 | 2,420,458 | 1,656,587 |
| Admin Expenses | 1,751,240 | 1,813,272 | 1,775,898 | 1,937,736 | 1,895,858 | 1,649,792 | 1,503,509 | 1,566,756 | 1,207,579 |
| Operating Profit | 957,302 | 546,115 | -628,299 | 721,133 | 2,421,596 | 1,456,123 | 219,949 | 853,702 | 449,008 |
| Interest Payable | 528 | 7 | 9,080 | 7,267 | 1,498 | 1,498 | 742 | 0 | 0 |
| Interest Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pre-Tax Profit | 956,923 | 563,724 | -214,713 | 723,223 | 2,420,123 | 1,454,695 | 219,213 | 853,713 | 449,008 |
| Tax | -208,893 | -152,620 | 19,495 | -159,804 | -491,131 | -299,885 | -68,997 | -252,713 | -30,014 |
| Profit After Tax | 748,030 | 411,104 | -195,218 | 563,419 | 1,928,992 | 1,154,810 | 150,216 | 601,000 | 418,994 |
| Dividends Paid | 989,878 | 1,905,000 | 0 | 0 | 107,795 | 0 | 0 | 1,000,000 | 0 |
| Retained Profit | -241,848 | -1,493,896 | -195,218 | 563,419 | 1,821,197 | 1,154,810 | 150,216 | -399,000 | 418,994 |
| Employee Costs | 2,183,765 | 2,092,815 | 2,233,627 | 2,735,630 | 2,882,708 | 2,145,895 | 1,752,950 | 1,623,077 | |
| Number Of Employees | 65 | 69 | 74 | 98 | 105 | 78 | 66 | 69 | |
| EBITDA* | 988,802 | 731,890 | -436,432 | 921,902 | 2,620,573 | 1,655,031 | 418,133 | 1,015,127 | 451,945 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 1,999,897 | 2,018,774 | 2,152,920 | 2,328,199 | 2,483,878 | 2,546,927 | 2,620,175 | 2,650,872 | 2,507,391 |
| Intangible Assets | 31,501 | 47,251 | 63,001 | 78,751 | 94,501 | 110,251 | 126,001 | 141,751 | 157,502 |
| 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 | 2,031,398 | 2,066,025 | 2,215,921 | 2,406,950 | 2,578,379 | 2,657,178 | 2,746,176 | 2,792,623 | 2,664,893 |
| Stock & work in progress | 1,407,889 | 1,177,533 | 514,119 | 724,940 | 1,089,295 | 985,879 | 440,042 | 348,091 | 400,097 |
| Trade Debtors | 1,573,038 | 971,912 | 967,862 | 1,091,540 | 1,375,903 | 1,767,398 | 1,144,926 | 1,107,121 | 951,695 |
| Group Debtors | 120,000 | 144,875 | 251,910 | 272,435 | 293,460 | 85,510 | 435,773 | 517,858 | 594,986 |
| Misc Debtors | 1,105,065 | 1,955,260 | 3,293,437 | 2,493,221 | 149,073 | 179,413 | 187,372 | 603,070 | 541,962 |
| Cash | 1,719,159 | 1,759,612 | 2,003,852 | 2,623,831 | 4,216,203 | 2,035,514 | 1,869,625 | 2,033,876 | 944,736 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 5,925,151 | 6,009,192 | 7,031,180 | 7,205,967 | 7,123,934 | 5,053,714 | 4,077,738 | 4,610,016 | 3,433,476 |
| total assets | 7,956,549 | 8,075,217 | 9,247,101 | 9,612,917 | 9,702,313 | 7,710,892 | 6,823,914 | 7,402,639 | 6,098,369 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 61,583 | 5,731 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 651,961 | 729,903 | 483,333 | 481,507 | 691,841 | 725,137 | 422,050 | 549,685 | 437,314 |
| Group/Directors Accounts | 24,284 | 500 | 0 | 0 | 0 | 21,025 | 830,941 | 1,337,122 | 1,309 |
| 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 | 342,536 | 204,731 | 150,042 | 311,325 | 744,296 | 522,699 | 209,482 | 383,862 | 212,604 |
| total current liabilities | 1,018,781 | 935,134 | 633,375 | 792,832 | 1,436,137 | 1,268,861 | 1,524,056 | 2,276,400 | 651,227 |
| 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 | 22,803 | 0 | 0 | 0 | 0 | 7,119 | 21,243 | 0 | 0 |
| provisions | 124,456 | 107,726 | 87,473 | 98,614 | 108,124 | 98,057 | 96,570 | 94,410 | 16,313 |
| total long term liabilities | 147,259 | 107,726 | 87,473 | 98,614 | 108,124 | 105,176 | 117,813 | 94,410 | 16,313 |
| total liabilities | 1,166,040 | 1,042,860 | 720,848 | 891,446 | 1,544,261 | 1,374,037 | 1,641,869 | 2,370,810 | 667,540 |
| net assets | 6,790,509 | 7,032,357 | 8,526,253 | 8,721,471 | 8,158,052 | 6,336,855 | 5,182,045 | 5,031,829 | 5,430,829 |
| total shareholders funds | 6,790,509 | 7,032,357 | 8,526,253 | 8,721,471 | 8,158,052 | 6,336,855 | 5,182,045 | 5,031,829 | 5,430,829 |
| Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||
| Operating Profit | 957,302 | 546,115 | -628,299 | 721,133 | 2,421,596 | 1,456,123 | 219,949 | 853,702 | 449,008 |
| Depreciation | 15,750 | 170,025 | 176,117 | 185,019 | 183,227 | 183,158 | 182,434 | 145,675 | 2,937 |
| Amortisation | 15,750 | 15,750 | 15,750 | 15,750 | 15,750 | 15,750 | 15,750 | 15,750 | 0 |
| Tax | -208,893 | -152,620 | 19,495 | -159,804 | -491,131 | -299,885 | -68,997 | -252,713 | -30,014 |
| Stock | 230,356 | 663,414 | -210,821 | -364,355 | 103,416 | 545,837 | 91,951 | -52,006 | 400,097 |
| Debtors | -273,944 | -1,441,162 | 656,013 | 2,038,760 | -213,885 | 264,250 | -459,978 | 139,406 | 2,088,643 |
| Creditors | -77,942 | 246,570 | 1,826 | -210,334 | -33,296 | 303,087 | -127,635 | 112,371 | 437,314 |
| Accruals and Deferred Income | 137,805 | 54,689 | -161,283 | -432,971 | 221,597 | 313,217 | -174,380 | 171,258 | 212,604 |
| Deferred Taxes & Provisions | 16,730 | 20,253 | -11,141 | -9,510 | 10,067 | 1,487 | 2,160 | 78,097 | 16,313 |
| Cash flow from operations | 900,090 | 1,678,530 | -1,032,727 | -1,565,122 | 2,438,279 | 1,162,850 | 417,308 | 1,036,740 | -1,400,578 |
| Investing Activities | |||||||||
| capital expenditure | 0 | 0 | 0 | -29,551 | -117,444 | -109,910 | -148,697 | -305,628 | 2,000 |
| Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | 0 | 0 | 0 | -29,551 | -117,444 | -109,910 | -148,697 | -305,628 | 2,000 |
| Financing Activities | |||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 23,784 | 500 | 0 | 0 | -21,025 | -809,916 | -506,181 | 1,335,813 | 1,309 |
| 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 | 22,803 | 0 | 0 | 0 | -7,119 | -14,124 | 21,243 | 0 | 0 |
| share issue | |||||||||
| interest | -528 | -7 | -9,080 | -7,267 | -1,498 | -1,498 | -742 | 0 | 0 |
| cash flow from financing | 46,059 | 493 | -9,080 | -7,267 | -29,642 | -825,538 | -485,680 | 1,335,813 | 5,013,144 |
| cash and cash equivalents | |||||||||
| cash | -40,453 | -244,240 | -619,979 | -1,592,372 | 2,180,689 | 165,889 | -164,251 | 1,089,140 | 944,736 |
| overdraft | 0 | 0 | 0 | 0 | 0 | -61,583 | 55,852 | 5,731 | 0 |
| change in cash | -40,453 | -244,240 | -619,979 | -1,592,372 | 2,180,689 | 227,472 | -220,103 | 1,083,409 | 944,736 |
millfield composites group limited Credit Report and Business Information
Millfield Composites Group Limited Competitor Analysis
Perform a competitor analysis for millfield composites group limited by selecting its closest rivals and benchmarking them against 12 key performance metrics.
millfield composites group limited Ownership
MILLFIELD COMPOSITES GROUP LIMITED group structure
Millfield Composites Group Limited has 4 subsidiary companies.
Ultimate parent company
MILLFIELD COMPOSITES GROUP LIMITED
09492612
4 subsidiaries
millfield composites group limited directors
Millfield Composites Group Limited currently has 2 directors. The longest serving directors include Mr Jonathan Dodd (Mar 2015) and Mr John Doyle (Dec 2022).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Jonathan Dodd | England | 56 years | Mar 2015 | - | Director |
| Mr John Doyle | England | 53 years | Dec 2022 | - | Director |
P&L
March 2023turnover
6.5m
+20%
operating profit
957.3k
+75%
gross margin
41.8%
-4.56%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
March 2023net assets
6.8m
-0.03%
total assets
8m
-0.01%
cash
1.7m
-0.02%
net assets
Total assets minus all liabilities
Similar Companies
millfield composites group limited company details
company number
09492612
Type
Private limited with Share Capital
industry
70100 - Activities of head offices
incorporation date
March 2015
age
9
accounts
Group
ultimate parent company
previous names
N/A
incorporated
UK
address
16, shelley road, newburn industrial, newcastle upon tyne, england, NE15 9RT
last accounts submitted
March 2023
millfield composites group 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 millfield composites group limited.
millfield composites group limited Companies House Filings - See Documents
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