palace laundry ltd

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palace laundry ltd Company Information

Share PALACE LAUNDRY LTD

Company Number

11139452

Shareholders

firmdale holdings ltd

Group Structure

View All

Industry

Washing and (dry-)cleaning of textile and fur products

 

Registered Address

18 thurloe place, london, SW7 2SP

palace laundry ltd Estimated Valuation

£1.7m

Pomanda estimates the enterprise value of PALACE LAUNDRY LTD at £1.7m based on a Turnover of £3.3m and 0.5x industry multiple (adjusted for size and gross margin).

palace laundry ltd Estimated Valuation

£0

Pomanda estimates the enterprise value of PALACE LAUNDRY LTD at £0 based on an EBITDA of £-412.1k and a 2.7x industry multiple (adjusted for size and gross margin).

palace laundry ltd Estimated Valuation

£0

Pomanda estimates the enterprise value of PALACE LAUNDRY LTD at £0 based on Net Assets of £-4m and 2.41x industry multiple (adjusted for liquidity).

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Palace Laundry Ltd Overview

Palace Laundry Ltd is a live company located in london, SW7 2SP with a Companies House number of 11139452. It operates in the washing and (dry-)cleaning of textile and fur products sector, SIC Code 96010. Founded in January 2018, it's largest shareholder is firmdale holdings ltd with a 100% stake. Palace Laundry Ltd is a young, small sized company, Pomanda has estimated its turnover at £3.3m with rapid growth in recent years.

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Palace Laundry Ltd Health Check

Pomanda's financial health check has awarded Palace Laundry Ltd a 2 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 6 areas for improvement. Company Health Check FAQs

Health Check Image
Health Rating2out of 5
positive_score

4 Strong

positive_score

1 Regular

positive_score

6 Weak

size

Size

annual sales of £3.3m, make it larger than the average company (£423.8k)

£3.3m - Palace Laundry Ltd

£423.8k - Industry AVG

growth

Growth

3 year (CAGR) sales growth of 83%, show it is growing at a faster rate (15.5%)

83% - Palace Laundry Ltd

15.5% - Industry AVG

production

Production

with a gross margin of 25.6%, this company has a higher cost of product (49.5%)

25.6% - Palace Laundry Ltd

49.5% - Industry AVG

profitability

Profitability

an operating margin of -25.7% make it less profitable than the average company (8.8%)

-25.7% - Palace Laundry Ltd

8.8% - Industry AVG

employees

Employees

with 77 employees, this is above the industry average (16)

77 - Palace Laundry Ltd

16 - Industry AVG

paystructure

Pay Structure

on an average salary of £24.1k, the company has an equivalent pay structure (£28.5k)

£24.1k - Palace Laundry Ltd

£28.5k - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £42.8k, this is less efficient (£61.4k)

£42.8k - Palace Laundry Ltd

£61.4k - Industry AVG

debtordays

Debtor Days

it gets paid by customers after 35 days, this is earlier than average (47 days)

35 days - Palace Laundry Ltd

47 days - Industry AVG

creditordays

Creditor Days

its suppliers are paid after 10 days, this is quicker than average (32 days)

10 days - Palace Laundry Ltd

32 days - Industry AVG

stockdays

Stock Days

There is insufficient data available for this Key Performance Indicator!

- - Palace Laundry Ltd

- - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 0 weeks, this is less cash available to meet short term requirements (17 weeks)

0 weeks - Palace Laundry Ltd

17 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 167%, this is a higher level of debt than the average (56.1%)

167% - Palace Laundry Ltd

56.1% - Industry AVG

PALACE LAUNDRY LTD financials

EXPORTms excel logo

Palace Laundry Ltd's latest turnover from January 2024 is £3.3 million and the company has net assets of -£4 million. According to their latest financial statements, Palace Laundry Ltd has 77 employees and maintains cash reserves of £58.7 thousand as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Jan 2024Jan 2023Jan 2022Jan 2021Jan 2020Jan 2019
Turnover3,296,4582,897,7761,205,691535,3412,897,5832,773,716
Other Income Or Grants000000
Cost Of Sales2,454,1492,193,0771,445,8011,432,3902,218,3751,968,189
Gross Profit842,309704,699-240,110-897,049679,208805,527
Admin Expenses1,688,2501,913,017-970,0631,861,4901,068,153785,510
Operating Profit-845,941-1,208,318729,953-2,758,539-388,94520,017
Interest Payable000000
Interest Receivable2,5290053467240
Pre-Tax Profit-843,412-1,208,318729,953-2,758,486-388,47820,257
Tax411,871-51,897-432,576341,526-29,675-9,225
Profit After Tax-431,541-1,260,215297,377-2,416,960-418,15311,032
Dividends Paid000000
Retained Profit-431,541-1,260,215297,377-2,416,960-418,15311,032
Employee Costs1,857,1881,683,7061,164,2681,253,3031,618,8471,550,223
Number Of Employees777161717573
EBITDA*-412,087-777,8951,106,376-2,347,718-78,952197,481

* Earnings Before Interest, Tax, Depreciation and Amortisation

Jan 2024Jan 2023Jan 2022Jan 2021Jan 2020Jan 2019
Tangible Assets5,557,4276,324,1057,545,8876,295,9357,985,4257,041,194
Intangible Assets000000
Investments & Other000000
Debtors (Due After 1 year)000000
Total Fixed Assets5,557,4276,324,1057,545,8876,295,9357,985,4257,041,194
Stock & work in progress000000
Trade Debtors320,733335,39999,7487,39589,43389,354
Group Debtors000100100135,551
Misc Debtors30,72829,49628,08136,62437,207241,366
Cash58,67217,04576,29416,71042,845313,590
misc current assets000000
total current assets410,133381,940204,12360,829169,585779,861
total assets5,967,5606,706,0457,750,0106,356,7648,155,0107,821,055
Bank overdraft000000
Bank loan000000
Trade Creditors 72,54417,88023,566054,26438,940
Group/Directors Accounts9,098,6679,061,7108,719,5848,327,9537,186,2306,560,427
other short term finances000000
hp & lease commitments000000
other current liabilities218,619205,313207,578134,361242,582279,576
total current liabilities9,389,8309,284,9038,950,7288,462,3147,483,0766,878,943
loans000000
hp & lease commitments000000
Accruals and Deferred Income000000
other liabilities000000
provisions575,110986,981935,084500,829842,355812,680
total long term liabilities575,110986,981935,084500,829842,355812,680
total liabilities9,964,94010,271,8849,885,8128,963,1438,325,4317,691,623
net assets-3,997,380-3,565,839-2,135,802-2,606,379-170,421129,432
total shareholders funds-3,997,380-3,565,839-2,135,802-2,606,379-170,421129,432
Jan 2024Jan 2023Jan 2022Jan 2021Jan 2020Jan 2019
Operating Activities
Operating Profit-845,941-1,208,318729,953-2,758,539-388,94520,017
Depreciation433,854430,423376,423410,821309,993177,464
Amortisation000000
Tax411,871-51,897-432,576341,526-29,675-9,225
Stock000000
Debtors-13,434237,06683,710-82,621-339,531466,271
Creditors54,664-5,68623,566-54,26415,32438,940
Accruals and Deferred Income13,306-2,26573,217-108,221-36,994279,576
Deferred Taxes & Provisions-411,87151,897434,255-341,52629,675812,680
Cash flow from operations-330,683-1,022,9121,121,128-2,427,582238,909853,181
Investing Activities
capital expenditure332,824791,359-1,626,3751,278,669-1,254,224-7,218,658
Change in Investments000000
cash flow from investments332,824791,359-1,626,3751,278,669-1,254,224-7,218,658
Financing Activities
Bank loans000000
Group/Directors Accounts36,957342,126391,6311,141,723625,8036,560,427
Other Short Term Loans 000000
Long term loans000000
Hire Purchase and Lease Commitments000000
other long term liabilities000000
share issue0-169,822173,200-18,998118,300118,400
interest2,5290053467240
cash flow from financing39,486172,304564,8311,122,778744,5706,679,067
cash and cash equivalents
cash41,627-59,24959,584-26,135-270,745313,590
overdraft000000
change in cash41,627-59,24959,584-26,135-270,745313,590

palace laundry ltd Credit Report and Business Information

Very Low Risk70 - 100
Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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Palace Laundry Ltd Competitor Analysis

competitor_analysis_table_img

Perform a competitor analysis for palace laundry ltd by selecting its closest rivals, whether from the OTHER SERVICE ACTIVITIES sector, other small companies, companies in SW7 area or any other competitors across 12 key performance metrics.

palace laundry ltd Ownership

PALACE LAUNDRY LTD group structure

Palace Laundry Ltd has no subsidiary companies.

Ultimate parent company

1 parent

PALACE LAUNDRY LTD

11139452

PALACE LAUNDRY LTD Shareholders

firmdale holdings ltd 100%

palace laundry ltd directors

Palace Laundry Ltd currently has 6 directors. The longest serving directors include Mr Timothy Kemp (Jan 2018) and Mr Rolando Cheles (Apr 2020).

officercountryagestartendrole
Mr Timothy Kemp79 years Jan 2018- Director
Mr Rolando ChelesUnited Kingdom70 years Apr 2020- Director
Mr Craig MarkhamUnited Kingdom63 years Apr 2020- Director
Mr Rolando ChelesUnited Kingdom70 years Apr 2020- Director
Mr Malcolm SodenUnited Kingdom64 years Jan 2024- Director
Mr Con RingUnited Kingdom55 years Jan 2024- Director

P&L

January 2024

turnover

3.3m

+14%

operating profit

-845.9k

-30%

gross margin

25.6%

+5.07%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

January 2024

net assets

-4m

+0.12%

total assets

6m

-0.11%

cash

58.7k

+2.44%

net assets

Total assets minus all liabilities

palace laundry ltd company details

company number

11139452

Type

Private limited with Share Capital

industry

96010 - Washing and (dry-)cleaning of textile and fur products

incorporation date

January 2018

age

7

incorporated

UK

ultimate parent company

accounts

Full Accounts

last accounts submitted

January 2024

previous names

N/A

accountant

-

auditor

MHA

address

18 thurloe place, london, SW7 2SP

Bank

-

Legal Advisor

-

palace laundry 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 found 4 charges/mortgages relating to palace laundry ltd. Currently there are 0 open charges and 4 have been satisfied in the past.

palace laundry ltd 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 PALACE LAUNDRY LTD. This can take several minutes, an email will notify you when this has completed.

palace laundry ltd Companies House Filings - See Documents

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