palace laundry ltd Company Information
Company Number
11139452
Next Accounts
Oct 2025
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
Website
http://firmdale.compalace laundry ltd Estimated Valuation
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
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
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
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4 Strong
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1 Regular
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6 Weak
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Size
annual sales of £3.3m, make it larger than the average company (£423.8k)
£3.3m - Palace Laundry Ltd
£423.8k - Industry AVG
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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
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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
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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
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Employees
with 77 employees, this is above the industry average (16)
77 - Palace Laundry Ltd
16 - Industry AVG
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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
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Efficiency
resulting in sales per employee of £42.8k, this is less efficient (£61.4k)
£42.8k - Palace Laundry Ltd
£61.4k - Industry AVG
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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
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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
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Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Palace Laundry Ltd
- - Industry AVG
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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
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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
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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 House, Pomanda Estimates
Jan 2024 | Jan 2023 | Jan 2022 | Jan 2021 | Jan 2020 | Jan 2019 | |
---|---|---|---|---|---|---|
Turnover | 3,296,458 | 2,897,776 | 1,205,691 | 535,341 | 2,897,583 | 2,773,716 |
Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 |
Cost Of Sales | 2,454,149 | 2,193,077 | 1,445,801 | 1,432,390 | 2,218,375 | 1,968,189 |
Gross Profit | 842,309 | 704,699 | -240,110 | -897,049 | 679,208 | 805,527 |
Admin Expenses | 1,688,250 | 1,913,017 | -970,063 | 1,861,490 | 1,068,153 | 785,510 |
Operating Profit | -845,941 | -1,208,318 | 729,953 | -2,758,539 | -388,945 | 20,017 |
Interest Payable | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Receivable | 2,529 | 0 | 0 | 53 | 467 | 240 |
Pre-Tax Profit | -843,412 | -1,208,318 | 729,953 | -2,758,486 | -388,478 | 20,257 |
Tax | 411,871 | -51,897 | -432,576 | 341,526 | -29,675 | -9,225 |
Profit After Tax | -431,541 | -1,260,215 | 297,377 | -2,416,960 | -418,153 | 11,032 |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
Retained Profit | -431,541 | -1,260,215 | 297,377 | -2,416,960 | -418,153 | 11,032 |
Employee Costs | 1,857,188 | 1,683,706 | 1,164,268 | 1,253,303 | 1,618,847 | 1,550,223 |
Number Of Employees | 77 | 71 | 61 | 71 | 75 | 73 |
EBITDA* | -412,087 | -777,895 | 1,106,376 | -2,347,718 | -78,952 | 197,481 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
Jan 2024 | Jan 2023 | Jan 2022 | Jan 2021 | Jan 2020 | Jan 2019 | |
---|---|---|---|---|---|---|
Tangible Assets | 5,557,427 | 6,324,105 | 7,545,887 | 6,295,935 | 7,985,425 | 7,041,194 |
Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 |
Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 |
Total Fixed Assets | 5,557,427 | 6,324,105 | 7,545,887 | 6,295,935 | 7,985,425 | 7,041,194 |
Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
Trade Debtors | 320,733 | 335,399 | 99,748 | 7,395 | 89,433 | 89,354 |
Group Debtors | 0 | 0 | 0 | 100 | 100 | 135,551 |
Misc Debtors | 30,728 | 29,496 | 28,081 | 36,624 | 37,207 | 241,366 |
Cash | 58,672 | 17,045 | 76,294 | 16,710 | 42,845 | 313,590 |
misc current assets | 0 | 0 | 0 | 0 | 0 | 0 |
total current assets | 410,133 | 381,940 | 204,123 | 60,829 | 169,585 | 779,861 |
total assets | 5,967,560 | 6,706,045 | 7,750,010 | 6,356,764 | 8,155,010 | 7,821,055 |
Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 |
Bank loan | 0 | 0 | 0 | 0 | 0 | 0 |
Trade Creditors | 72,544 | 17,880 | 23,566 | 0 | 54,264 | 38,940 |
Group/Directors Accounts | 9,098,667 | 9,061,710 | 8,719,584 | 8,327,953 | 7,186,230 | 6,560,427 |
other short term finances | 0 | 0 | 0 | 0 | 0 | 0 |
hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 |
other current liabilities | 218,619 | 205,313 | 207,578 | 134,361 | 242,582 | 279,576 |
total current liabilities | 9,389,830 | 9,284,903 | 8,950,728 | 8,462,314 | 7,483,076 | 6,878,943 |
loans | 0 | 0 | 0 | 0 | 0 | 0 |
hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 |
Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 |
other liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
provisions | 575,110 | 986,981 | 935,084 | 500,829 | 842,355 | 812,680 |
total long term liabilities | 575,110 | 986,981 | 935,084 | 500,829 | 842,355 | 812,680 |
total liabilities | 9,964,940 | 10,271,884 | 9,885,812 | 8,963,143 | 8,325,431 | 7,691,623 |
net assets | -3,997,380 | -3,565,839 | -2,135,802 | -2,606,379 | -170,421 | 129,432 |
total shareholders funds | -3,997,380 | -3,565,839 | -2,135,802 | -2,606,379 | -170,421 | 129,432 |
Jan 2024 | Jan 2023 | Jan 2022 | Jan 2021 | Jan 2020 | Jan 2019 | |
---|---|---|---|---|---|---|
Operating Activities | ||||||
Operating Profit | -845,941 | -1,208,318 | 729,953 | -2,758,539 | -388,945 | 20,017 |
Depreciation | 433,854 | 430,423 | 376,423 | 410,821 | 309,993 | 177,464 |
Amortisation | 0 | 0 | 0 | 0 | 0 | 0 |
Tax | 411,871 | -51,897 | -432,576 | 341,526 | -29,675 | -9,225 |
Stock | 0 | 0 | 0 | 0 | 0 | 0 |
Debtors | -13,434 | 237,066 | 83,710 | -82,621 | -339,531 | 466,271 |
Creditors | 54,664 | -5,686 | 23,566 | -54,264 | 15,324 | 38,940 |
Accruals and Deferred Income | 13,306 | -2,265 | 73,217 | -108,221 | -36,994 | 279,576 |
Deferred Taxes & Provisions | -411,871 | 51,897 | 434,255 | -341,526 | 29,675 | 812,680 |
Cash flow from operations | -330,683 | -1,022,912 | 1,121,128 | -2,427,582 | 238,909 | 853,181 |
Investing Activities | ||||||
capital expenditure | ||||||
Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 |
cash flow from investments | ||||||
Financing Activities | ||||||
Bank loans | 0 | 0 | 0 | 0 | 0 | 0 |
Group/Directors Accounts | 36,957 | 342,126 | 391,631 | 1,141,723 | 625,803 | 6,560,427 |
Other Short Term Loans | 0 | 0 | 0 | 0 | 0 | 0 |
Long term loans | 0 | 0 | 0 | 0 | 0 | 0 |
Hire Purchase and Lease Commitments | 0 | 0 | 0 | 0 | 0 | 0 |
other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
share issue | ||||||
interest | 2,529 | 0 | 0 | 53 | 467 | 240 |
cash flow from financing | 39,486 | 172,304 | 564,831 | 1,122,778 | 744,570 | 6,679,067 |
cash and cash equivalents | ||||||
cash | 41,627 | -59,249 | 59,584 | -26,135 | -270,745 | 313,590 |
overdraft | 0 | 0 | 0 | 0 | 0 | 0 |
change in cash | 41,627 | -59,249 | 59,584 | -26,135 | -270,745 | 313,590 |
palace laundry ltd Credit Report and Business Information
Palace Laundry Ltd Competitor Analysis
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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.
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).
officer | country | age | start | end | role |
---|---|---|---|---|---|
Mr Timothy Kemp | 79 years | Jan 2018 | - | Director | |
Mr Rolando Cheles | United Kingdom | 70 years | Apr 2020 | - | Director |
Mr Craig Markham | United Kingdom | 63 years | Apr 2020 | - | Director |
Mr Rolando Cheles | United Kingdom | 70 years | Apr 2020 | - | Director |
Mr Malcolm Soden | United Kingdom | 64 years | Jan 2024 | - | Director |
Mr Con Ring | United Kingdom | 55 years | Jan 2024 | - | Director |
P&L
January 2024turnover
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 2024net 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.
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palace laundry ltd Companies House Filings - See Documents
date | description | view/download |
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