covalent group limited
covalent group limited Company Information
Company Number
10060567
Website
www.thecovalentgroup.comRegistered Address
wool + tailor building, fifth floor, london, E1 8DE
Industry
Activities of head offices
Telephone
-
Next Accounts Due
December 2024
Group Structure
View All
Shareholders
hlm+ld employee trustee limited 100%
covalent group limited Estimated Valuation
Pomanda estimates the enterprise value of COVALENT GROUP LIMITED at £26.3m based on a Turnover of £23.8m and 1.11x industry multiple (adjusted for size and gross margin).
covalent group limited Estimated Valuation
Pomanda estimates the enterprise value of COVALENT GROUP LIMITED at £20.1m based on an EBITDA of £2.7m and a 7.43x industry multiple (adjusted for size and gross margin).
covalent group limited Estimated Valuation
Pomanda estimates the enterprise value of COVALENT GROUP LIMITED at £6.1m based on Net Assets of £2.4m and 2.58x industry multiple (adjusted for liquidity).
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Covalent Group Limited Overview
Covalent Group Limited is a live company located in london, E1 8DE with a Companies House number of 10060567. It operates in the activities of head offices sector, SIC Code 70100. Founded in March 2016, it's largest shareholder is hlm+ld employee trustee limited with a 100% stake. Covalent Group Limited is a young, large sized company, Pomanda has estimated its turnover at £23.8m with high growth in recent years.
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Covalent Group Limited Health Check
Pomanda's financial health check has awarded Covalent Group Limited a 3 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 5 areas for improvement. Company Health Check FAQs
3 Strong
3 Regular
5 Weak
Size
annual sales of £23.8m, make it in line with the average company (£19.9m)
£23.8m - Covalent Group Limited
£19.9m - Industry AVG
Growth
3 year (CAGR) sales growth of 15%, show it is growing at a faster rate (4.4%)
15% - Covalent Group Limited
4.4% - Industry AVG
Production
with a gross margin of 36.7%, this company has a comparable cost of product (32.8%)
36.7% - Covalent Group Limited
32.8% - Industry AVG
Profitability
an operating margin of 10.4% make it more profitable than the average company (5.9%)
10.4% - Covalent Group Limited
5.9% - Industry AVG
Employees
with 252 employees, this is above the industry average (117)
252 - Covalent Group Limited
117 - Industry AVG
Pay Structure
on an average salary of £48.6k, the company has an equivalent pay structure (£45.4k)
£48.6k - Covalent Group Limited
£45.4k - Industry AVG
Efficiency
resulting in sales per employee of £94.3k, this is less efficient (£187.7k)
£94.3k - Covalent Group Limited
£187.7k - Industry AVG
Debtor Days
it gets paid by customers after 85 days, this is later than average (46 days)
85 days - Covalent Group Limited
46 days - Industry AVG
Creditor Days
its suppliers are paid after 25 days, this is quicker than average (45 days)
25 days - Covalent Group Limited
45 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Covalent Group Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 10 weeks, this is less cash available to meet short term requirements (16 weeks)
10 weeks - Covalent Group Limited
16 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 70.3%, this is a higher level of debt than the average (57%)
70.3% - Covalent Group Limited
57% - Industry AVG
COVALENT GROUP LIMITED financials
Covalent Group Limited's latest turnover from March 2023 is £23.8 million and the company has net assets of £2.4 million. According to their latest financial statements, Covalent Group Limited has 252 employees and maintains cash reserves of £1.1 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 | |
|---|---|---|---|---|---|---|---|---|
| Turnover | 23,756,407 | 21,397,920 | 15,683,863 | 15,531,425 | 15,139,879 | 15,564,541 | 16,275,281 | 17,974,855 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 15,034,307 | 13,695,394 | 10,356,232 | 9,572,758 | 10,423,972 | 10,523,765 | 10,769,068 | 11,744,654 |
| Gross Profit | 8,722,100 | 7,702,526 | 5,327,631 | 5,958,667 | 4,715,907 | 5,040,776 | 5,506,213 | 6,230,201 |
| Admin Expenses | 6,250,521 | 4,820,358 | 4,204,108 | 5,398,538 | 4,528,973 | 4,927,406 | 5,357,877 | 5,945,962 |
| Operating Profit | 2,471,579 | 2,882,168 | 1,123,523 | 560,129 | 186,934 | 113,370 | 148,336 | 284,239 |
| Interest Payable | 11,926 | 13,677 | 4,695 | 33,128 | 61,567 | 60,404 | 42,182 | 24,549 |
| Interest Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 135 | 43 |
| Pre-Tax Profit | 2,459,653 | 2,868,491 | 1,118,828 | 527,001 | 125,367 | 15,946 | 106,289 | 259,733 |
| Tax | -317,904 | -1,123 | -50,971 | 655,881 | 96,086 | -34,177 | -26,873 | -41,877 |
| Profit After Tax | 2,141,749 | 2,867,368 | 1,067,857 | 1,182,882 | 221,453 | -18,231 | 79,416 | 217,856 |
| Dividends Paid | 0 | 0 | 0 | 127,504 | 247,400 | 132,000 | 174,500 | 175,000 |
| Retained Profit | 2,141,749 | 2,867,368 | 1,067,857 | 1,055,378 | -25,947 | -150,231 | -95,084 | 42,856 |
| Employee Costs | 12,238,589 | 10,057,614 | 7,789,026 | 7,988,213 | 7,173,907 | 7,659,775 | 8,480,882 | 9,091,729 |
| Number Of Employees | 252 | 213 | 187 | 192 | 173 | 192 | 213 | 216 |
| EBITDA* | 2,708,052 | 3,035,762 | 1,243,214 | 704,700 | 436,753 | 464,853 | 641,196 | 284,239 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | |
|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 532,956 | 403,839 | 234,702 | 291,358 | 224,303 | 414,952 | 711,494 | 933,951 |
| 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 | 532,956 | 403,839 | 234,702 | 291,358 | 224,303 | 414,952 | 711,494 | 933,951 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 5,559,017 | 5,850,084 | 4,430,601 | 4,282,953 | 3,535,634 | 3,908,391 | 3,453,728 | 3,798,290 |
| Group Debtors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Misc Debtors | 799,401 | 727,098 | 1,490,459 | 1,124,275 | 1,676,060 | 1,936,570 | 2,195,354 | 1,611,895 |
| Cash | 1,094,938 | 1,691,385 | 1,685,432 | 907,940 | 691,756 | 326,573 | 163,435 | 105,316 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 7,453,356 | 8,268,567 | 7,606,492 | 6,315,168 | 5,903,450 | 6,171,534 | 5,812,517 | 5,515,501 |
| total assets | 7,986,312 | 8,672,406 | 7,841,194 | 6,606,526 | 6,127,753 | 6,586,486 | 6,524,011 | 6,449,452 |
| Bank overdraft | 0 | 0 | 0 | 615,537 | 1,406,022 | 1,347,043 | 956,595 | 29,892 |
| Bank loan | 132,178 | 168,142 | 165,000 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 1,067,597 | 1,260,038 | 1,378,946 | 1,345,987 | 1,543,451 | 1,957,417 | 1,926,938 | 1,554,982 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other short term finances | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 76,327 | 102,911 | 147,251 |
| other current liabilities | 4,345,337 | 4,195,594 | 3,963,444 | 2,741,758 | 2,330,414 | 2,331,038 | 2,213,706 | 3,169,109 |
| total current liabilities | 5,545,112 | 5,623,774 | 5,507,390 | 4,703,282 | 5,279,887 | 5,711,825 | 5,200,150 | 4,901,234 |
| loans | 0 | 129,997 | 295,229 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 73,880 | 176,186 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 67,188 | 26,372 | 0 | 0 | 0 | 848 | 14,206 | 44,770 |
| total long term liabilities | 67,188 | 156,369 | 295,229 | 0 | 0 | 848 | 88,086 | 220,956 |
| total liabilities | 5,612,300 | 5,780,143 | 5,802,619 | 4,703,282 | 5,279,887 | 5,712,673 | 5,288,236 | 5,122,190 |
| net assets | 2,374,012 | 2,892,263 | 2,038,575 | 1,903,244 | 847,866 | 873,813 | 1,235,775 | 1,327,262 |
| total shareholders funds | 2,374,012 | 2,892,263 | 2,038,575 | 1,903,244 | 847,866 | 873,813 | 1,235,775 | 1,327,262 |
| Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Operating Profit | 2,471,579 | 2,882,168 | 1,123,523 | 560,129 | 186,934 | 113,370 | 148,336 | 284,239 |
| Depreciation | 236,473 | 153,594 | 119,691 | 144,571 | 249,819 | 351,483 | 492,860 | |
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Tax | -317,904 | -1,123 | -50,971 | 655,881 | 96,086 | -34,177 | -26,873 | -41,877 |
| Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors | -218,764 | 656,122 | 513,832 | 195,534 | -633,267 | 195,879 | 238,897 | 5,410,185 |
| Creditors | -192,441 | -118,908 | 32,959 | -197,464 | -413,966 | 30,479 | 371,956 | 1,554,982 |
| Accruals and Deferred Income | 149,743 | 232,150 | 1,221,686 | 411,344 | -624 | 117,332 | -955,403 | 3,169,109 |
| Deferred Taxes & Provisions | 40,816 | 26,372 | 0 | 0 | -848 | -13,358 | -30,564 | 44,770 |
| Cash flow from operations | 2,607,030 | 2,518,131 | 1,933,056 | 1,378,927 | 750,668 | 369,250 | -238,585 | |
| Investing Activities | ||||||||
| capital expenditure | 0 | 0 | 0 | 0 | 0 | -183,131 | -279,417 | -278,663 |
| Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | 0 | 0 | 0 | 0 | 0 | -183,131 | -279,417 | -278,663 |
| Financing Activities | ||||||||
| Bank loans | -35,964 | 3,142 | 165,000 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Short Term Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | -129,997 | -165,232 | 295,229 | 0 | 0 | 0 | 0 | 0 |
| Hire Purchase and Lease Commitments | 0 | 0 | 0 | 0 | -76,327 | -100,464 | -146,646 | 323,437 |
| other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| share issue | ||||||||
| interest | -11,926 | -13,677 | -4,695 | -33,128 | -61,567 | -60,404 | -42,047 | -24,506 |
| cash flow from financing | -2,837,887 | -2,189,447 | -476,992 | -33,128 | -137,894 | -372,599 | -185,096 | 1,583,337 |
| cash and cash equivalents | ||||||||
| cash | -596,447 | 5,953 | 777,492 | 216,184 | 365,183 | 163,138 | 58,119 | 105,316 |
| overdraft | 0 | 0 | -615,537 | -790,485 | 58,979 | 390,448 | 926,703 | 29,892 |
| change in cash | -596,447 | 5,953 | 1,393,029 | 1,006,669 | 306,204 | -227,310 | -868,584 | 75,424 |
covalent group limited Credit Report and Business Information
Covalent Group Limited Competitor Analysis
Perform a competitor analysis for covalent group limited by selecting its closest rivals, whether from the PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES sector, other large companies, companies in E 1 area or any other competitors across 12 key performance metrics.
covalent group limited Ownership
COVALENT GROUP LIMITED group structure
Covalent Group Limited has 4 subsidiary companies.
Ultimate parent company
1 parent
COVALENT GROUP LIMITED
10060567
4 subsidiaries
covalent group limited directors
Covalent Group Limited currently has 7 directors. The longest serving directors include Mr Mark Staniland (Mar 2016) and Mr Richard O'Neil (Mar 2016).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Mark Staniland | United Kingdom | 54 years | Mar 2016 | - | Director |
| Mr Richard O'Neil | 52 years | Mar 2016 | - | Director | |
| Mr Nicholas Beecroft | England | 63 years | Mar 2016 | - | Director |
| Mr David Cafferty | 62 years | Mar 2016 | - | Director | |
| Mr John Clarke | England | 65 years | Mar 2016 | - | Director |
| Mrs Karen Mosley | England | 55 years | Mar 2016 | - | Director |
| Mr Christopher Liddle | England | 73 years | Mar 2016 | - | Director |
P&L
March 2023turnover
23.8m
+11%
operating profit
2.5m
-14%
gross margin
36.8%
+1.99%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
March 2023net assets
2.4m
-0.18%
total assets
8m
-0.08%
cash
1.1m
-0.35%
net assets
Total assets minus all liabilities
covalent group limited company details
company number
10060567
Type
Private limited with Share Capital
industry
70100 - Activities of head offices
incorporation date
March 2016
age
8
incorporated
UK
ultimate parent company
accounts
Group
last accounts submitted
March 2023
previous names
N/A
accountant
-
auditor
JOHNSTON CARMICHAEL LLP
address
wool + tailor building, fifth floor, london, E1 8DE
Bank
-
Legal Advisor
-
covalent 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 covalent group limited.
covalent group limited Companies House Filings - See Documents
| date | description | view/download |
|---|
