red funnel limited
red funnel limited Company Information
Company Number
10823670
Next Accounts
186 days late
Shareholders
red funnel holdings limited
Group Structure
View All
Industry
Sea and coastal freight water transport
+1Registered Address
12 bugle street, southampton, hampshire, SO14 2JY
Website
www.redfunnel.co.ukred funnel limited Estimated Valuation
Pomanda estimates the enterprise value of RED FUNNEL LIMITED at £93.3m based on a Turnover of £55.3m and 1.69x industry multiple (adjusted for size and gross margin).
red funnel limited Estimated Valuation
Pomanda estimates the enterprise value of RED FUNNEL LIMITED at £92.3m based on an EBITDA of £14.9m and a 6.19x industry multiple (adjusted for size and gross margin).
red funnel limited Estimated Valuation
Pomanda estimates the enterprise value of RED FUNNEL LIMITED at £0 based on Net Assets of £-17.5m and 1.37x industry multiple (adjusted for liquidity).
Edit your figures and get a professional valuation report.
Red Funnel Limited Overview
Red Funnel Limited is a live company located in hampshire, SO14 2JY with a Companies House number of 10823670. It operates in the sea and coastal passenger water transport sector, SIC Code 50100. Founded in June 2017, it's largest shareholder is red funnel holdings limited with a 100% stake. Red Funnel Limited is a young, large sized company, Pomanda has estimated its turnover at £55.3m with declining growth in recent years.
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Red Funnel Limited Health Check
Pomanda's financial health check has awarded Red Funnel Limited a 3 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 5 areas for improvement. Company Health Check FAQs
5 Strong
2 Regular
5 Weak
Size
annual sales of £55.3m, make it larger than the average company (£8.4m)
£55.3m - Red Funnel Limited
£8.4m - Industry AVG
Growth
3 year (CAGR) sales growth of 0%, show it is growing at a slower rate (2.2%)
- Red Funnel Limited
2.2% - Industry AVG
Production
with a gross margin of 27.8%, this company has a comparable cost of product (28%)
27.8% - Red Funnel Limited
28% - Industry AVG
Profitability
an operating margin of -21.4% make it less profitable than the average company (5.3%)
-21.4% - Red Funnel Limited
5.3% - Industry AVG
Employees
with 514 employees, this is above the industry average (38)
514 - Red Funnel Limited
38 - Industry AVG
Pay Structure
on an average salary of £35.6k, the company has a lower pay structure (£53.8k)
£35.6k - Red Funnel Limited
£53.8k - Industry AVG
Efficiency
resulting in sales per employee of £107.6k, this is less efficient (£355.6k)
£107.6k - Red Funnel Limited
£355.6k - Industry AVG
Debtor Days
it gets paid by customers after 14 days, this is earlier than average (21 days)
14 days - Red Funnel Limited
21 days - Industry AVG
Creditor Days
its suppliers are paid after 30 days, this is close to average (27 days)
30 days - Red Funnel Limited
27 days - Industry AVG
Stock Days
it holds stock equivalent to 3 days, this is less than average (11 days)
3 days - Red Funnel Limited
11 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 2 weeks, this is less cash available to meet short term requirements (12 weeks)
2 weeks - Red Funnel Limited
12 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 105.8%, this is a higher level of debt than the average (67%)
105.8% - Red Funnel Limited
67% - Industry AVG
RED FUNNEL LIMITED financials
Red Funnel Limited's latest turnover from December 2022 is £55.3 million and the company has net assets of -£17.5 million. According to their latest financial statements, Red Funnel Limited has 514 employees and maintains cash reserves of £10.6 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | |
|---|---|---|---|---|---|---|
| Turnover | 55,329,000 | 47,587,000 | 32,281,000 | 56,106,000 | 53,803,000 | 26,757,000 |
| Other Income Or Grants | ||||||
| Cost Of Sales | 39,945,000 | 35,370,000 | 33,157,000 | 35,740,000 | 31,907,000 | 13,912,000 |
| Gross Profit | 15,384,000 | 12,217,000 | -876,000 | 20,366,000 | 21,896,000 | 12,845,000 |
| Admin Expenses | 27,213,000 | 27,917,000 | 23,868,000 | 28,864,000 | 30,270,000 | 14,597,000 |
| Operating Profit | -11,829,000 | -15,700,000 | -24,744,000 | -8,498,000 | -8,374,000 | -1,752,000 |
| Interest Payable | 17,987,000 | 21,434,000 | 20,004,000 | 18,741,000 | 19,056,000 | 7,743,000 |
| Interest Receivable | 20,000 | 1,000 | 205,000 | 287,000 | 641,000 | 3,000 |
| Pre-Tax Profit | -29,805,000 | -37,165,000 | -44,543,000 | -26,952,000 | -26,789,000 | -9,492,000 |
| Tax | 329,000 | 2,350,000 | 1,438,000 | 271,000 | 648,000 | 503,000 |
| Profit After Tax | -29,476,000 | -34,815,000 | -43,105,000 | -26,681,000 | -26,141,000 | -8,989,000 |
| Dividends Paid | 4,000,000 | 8,000,000 | ||||
| Retained Profit | -29,476,000 | -34,815,000 | -43,105,000 | -26,681,000 | -30,141,000 | -16,989,000 |
| Employee Costs | 18,317,000 | 16,854,000 | 15,877,000 | 16,210,000 | 15,413,000 | 6,535,000 |
| Number Of Employees | 514 | 485 | 498 | 559 | 560 | 485 |
| EBITDA* | 14,914,000 | 13,128,000 | 4,325,000 | 19,889,000 | 18,641,000 | 11,280,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | |
|---|---|---|---|---|---|---|
| Tangible Assets | 45,768,000 | 47,592,000 | 49,713,000 | 53,463,000 | 47,641,000 | 38,555,000 |
| Intangible Assets | 233,335,000 | 251,544,000 | 272,317,000 | 293,719,000 | 314,666,000 | 335,989,000 |
| Investments & Other | 1,596,000 | 1,596,000 | 1,596,000 | 1,596,000 | 1,596,000 | |
| Debtors (Due After 1 year) | ||||||
| Total Fixed Assets | 280,699,000 | 300,732,000 | 323,626,000 | 348,778,000 | 363,903,000 | 374,544,000 |
| Stock & work in progress | 340,000 | 369,000 | 309,000 | 632,000 | 587,000 | 518,000 |
| Trade Debtors | 2,183,000 | 2,029,000 | 2,074,000 | 1,504,000 | 1,427,000 | 1,695,000 |
| Group Debtors | 49,000 | 49,000 | 49,000 | 49,000 | 11,000 | |
| Misc Debtors | 10,498,000 | 7,369,000 | 7,148,000 | 3,083,000 | 1,561,000 | 1,167,000 |
| Cash | 10,576,000 | 14,450,000 | 7,009,000 | 12,802,000 | 8,739,000 | 5,762,000 |
| misc current assets | ||||||
| total current assets | 23,646,000 | 24,266,000 | 16,589,000 | 18,070,000 | 12,325,000 | 9,142,000 |
| total assets | 304,345,000 | 324,998,000 | 340,215,000 | 366,848,000 | 376,228,000 | 383,686,000 |
| Bank overdraft | ||||||
| Bank loan | ||||||
| Trade Creditors | 3,348,000 | 2,793,000 | 2,304,000 | 2,202,000 | 2,390,000 | 2,142,000 |
| Group/Directors Accounts | 184,182,000 | 154,514,000 | 135,419,000 | 122,795,000 | 111,377,000 | 104,849,000 |
| other short term finances | 203,000 | 1,403,000 | 303,000 | 263,000 | ||
| hp & lease commitments | 1,262,000 | 1,116,000 | 1,063,000 | 957,000 | 454,000 | 118,000 |
| other current liabilities | 8,721,000 | 8,796,000 | 6,270,000 | 7,034,000 | 7,967,000 | 7,399,000 |
| total current liabilities | 197,513,000 | 167,422,000 | 146,459,000 | 133,291,000 | 122,451,000 | 114,508,000 |
| loans | 110,122,000 | 131,146,000 | 132,979,000 | 127,019,000 | 125,368,000 | 118,846,000 |
| hp & lease commitments | 14,167,000 | 15,430,000 | 16,617,000 | 17,672,000 | 11,014,000 | 5,826,000 |
| Accruals and Deferred Income | ||||||
| other liabilities | 104,000 | 202,000 | 293,000 | 920,000 | 1,496,000 | |
| provisions | 6,000 | |||||
| total long term liabilities | 124,333,000 | 147,375,000 | 152,923,000 | 147,865,000 | 140,328,000 | 129,143,000 |
| total liabilities | 321,846,000 | 314,797,000 | 299,382,000 | 281,156,000 | 262,779,000 | 243,651,000 |
| net assets | -17,501,000 | 10,201,000 | 40,833,000 | 85,692,000 | 113,449,000 | 140,035,000 |
| total shareholders funds | -17,501,000 | 10,201,000 | 40,833,000 | 85,692,000 | 113,449,000 | 140,035,000 |
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Operating Profit | -11,829,000 | -15,700,000 | -24,744,000 | -8,498,000 | -8,374,000 | -1,752,000 |
| Depreciation | 7,239,000 | 7,065,000 | 7,130,000 | 6,667,000 | 5,318,000 | 2,243,000 |
| Amortisation | 19,504,000 | 21,763,000 | 21,939,000 | 21,720,000 | 21,697,000 | 10,789,000 |
| Tax | 329,000 | 2,350,000 | 1,438,000 | 271,000 | 648,000 | 503,000 |
| Stock | -29,000 | 60,000 | -323,000 | 45,000 | 69,000 | 518,000 |
| Debtors | 3,283,000 | 176,000 | 4,635,000 | 1,637,000 | 137,000 | 2,862,000 |
| Creditors | 555,000 | 489,000 | 102,000 | -188,000 | 248,000 | 2,142,000 |
| Accruals and Deferred Income | -75,000 | 2,526,000 | -764,000 | -933,000 | 568,000 | 7,399,000 |
| Deferred Taxes & Provisions | -6,000 | 6,000 | ||||
| Cash flow from operations | 12,469,000 | 18,257,000 | 789,000 | 17,357,000 | 19,893,000 | 17,950,000 |
| Investing Activities | ||||||
| capital expenditure | -361,244,000 | |||||
| Change in Investments | 1,596,000 | |||||
| cash flow from investments | -1,596,000 | -361,244,000 | ||||
| Financing Activities | ||||||
| Bank loans | ||||||
| Group/Directors Accounts | 29,668,000 | 19,095,000 | 12,624,000 | 11,418,000 | 6,528,000 | 104,849,000 |
| Other Short Term Loans | -203,000 | -1,200,000 | 1,100,000 | 40,000 | 263,000 | |
| Long term loans | -21,024,000 | -1,833,000 | 5,960,000 | 1,651,000 | 6,522,000 | 118,846,000 |
| Hire Purchase and Lease Commitments | -1,117,000 | -1,134,000 | -949,000 | 7,161,000 | 5,524,000 | 5,944,000 |
| other long term liabilities | -104,000 | -98,000 | -91,000 | -627,000 | -576,000 | 1,496,000 |
| share issue | ||||||
| interest | -17,967,000 | -21,433,000 | -19,799,000 | -18,454,000 | -18,415,000 | -7,740,000 |
| cash flow from financing | -8,973,000 | -2,420,000 | -2,909,000 | 113,000 | 3,401,000 | 380,419,000 |
| cash and cash equivalents | ||||||
| cash | -3,874,000 | 7,441,000 | -5,793,000 | 4,063,000 | 2,977,000 | 5,762,000 |
| overdraft | ||||||
| change in cash | -3,874,000 | 7,441,000 | -5,793,000 | 4,063,000 | 2,977,000 | 5,762,000 |
red funnel limited Credit Report and Business Information
Red Funnel Limited Competitor Analysis
Perform a competitor analysis for red funnel limited by selecting its closest rivals, whether from the TRANSPORTATION AND STORAGE sector, other large companies, companies in SO14 area or any other competitors across 12 key performance metrics.
red funnel limited Ownership
RED FUNNEL LIMITED group structure
Red Funnel Limited has 1 subsidiary company.
Ultimate parent company
RED FUNNEL HOLDINGS LTD
#0067790
1 parent
RED FUNNEL LIMITED
10823670
1 subsidiary
red funnel limited directors
Red Funnel Limited currently has 6 directors. The longest serving directors include Ms Frances Collins (Jun 2018) and Mr Matthew Hammond (Nov 2020).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Ms Frances Collins | 48 years | Jun 2018 | - | Director | |
| Mr Matthew Hammond | United Kingdom | 53 years | Nov 2020 | - | Director |
| Ms Polina Sims | United Kingdom | 47 years | Nov 2020 | - | Director |
| Mr Erik Ostergaard | 66 years | Jul 2021 | - | Director | |
| Mr Stephen Ridgway | 73 years | Jul 2021 | - | Director | |
| Mr Iain Delaney | England | 49 years | Sep 2023 | - | Director |
P&L
December 2022turnover
55.3m
+16%
operating profit
-11.8m
-25%
gross margin
27.9%
+8.3%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2022net assets
-17.5m
-2.72%
total assets
304.3m
-0.06%
cash
10.6m
-0.27%
net assets
Total assets minus all liabilities
red funnel limited company details
company number
10823670
Type
Private limited with Share Capital
industry
50200 - Sea and coastal freight water transport
50100 - Sea and coastal passenger water transport
incorporation date
June 2017
age
8
incorporated
UK
ultimate parent company
accounts
Group
last accounts submitted
December 2022
previous names
hawk acquisition limited (September 2017)
accountant
-
auditor
BDO LLP
address
12 bugle street, southampton, hampshire, SO14 2JY
Bank
HSBC BANK PLC
Legal Advisor
PARIS SMITH LLP
red funnel 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 2 charges/mortgages relating to red funnel limited. Currently there are 2 open charges and 0 have been satisfied in the past.
red funnel 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.
Click to start generating capital raising & share issue transactions for RED FUNNEL LIMITED. This can take several minutes, an email will notify you when this has completed.
red funnel limited Companies House Filings - See Documents
| date | description | view/download |
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