src readymix limited
src readymix limited Company Information
Company Number
11229638
Next Accounts
Sep 2025
Shareholders
oliver john rees
louise jane yeates
View AllGroup Structure
View All
Industry
Manufacture of ready-mixed concrete
Registered Address
crown business centre, old ipswich road, colchester, CO7 7QR
Website
srcaggregates.co.uksrc readymix limited Estimated Valuation
Pomanda estimates the enterprise value of SRC READYMIX LIMITED at £12.1m based on a Turnover of £17.3m and 0.7x industry multiple (adjusted for size and gross margin).
src readymix limited Estimated Valuation
Pomanda estimates the enterprise value of SRC READYMIX LIMITED at £3.9m based on an EBITDA of £1.1m and a 3.6x industry multiple (adjusted for size and gross margin).
src readymix limited Estimated Valuation
Pomanda estimates the enterprise value of SRC READYMIX LIMITED at £3.5m based on Net Assets of £1.9m and 1.86x industry multiple (adjusted for liquidity).
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Src Readymix Limited Overview
Src Readymix Limited is a live company located in colchester, CO7 7QR with a Companies House number of 11229638. It operates in the manufacture of ready-mixed concrete sector, SIC Code 23630. Founded in February 2018, it's largest shareholder is oliver john rees with a 80% stake. Src Readymix Limited is a young, mid sized company, Pomanda has estimated its turnover at £17.3m with rapid growth in recent years.
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Src Readymix Limited Health Check
Pomanda's financial health check has awarded Src Readymix Limited a 4 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 4 areas for improvement. Company Health Check FAQs
3 Strong
4 Regular
4 Weak
Size
annual sales of £17.3m, make it in line with the average company (£17.1m)
£17.3m - Src Readymix Limited
£17.1m - Industry AVG
Growth
3 year (CAGR) sales growth of 36%, show it is growing at a faster rate (10.1%)
- Src Readymix Limited
10.1% - Industry AVG
Production
with a gross margin of 9.5%, this company has a higher cost of product (17.3%)
9.5% - Src Readymix Limited
17.3% - Industry AVG
Profitability
an operating margin of 3.3% make it as profitable than the average company (3.6%)
3.3% - Src Readymix Limited
3.6% - Industry AVG
Employees
with 36 employees, this is below the industry average (47)
36 - Src Readymix Limited
47 - Industry AVG
Pay Structure
on an average salary of £45.4k, the company has an equivalent pay structure (£44.9k)
£45.4k - Src Readymix Limited
£44.9k - Industry AVG
Efficiency
resulting in sales per employee of £480.8k, this is more efficient (£379.2k)
£480.8k - Src Readymix Limited
£379.2k - Industry AVG
Debtor Days
it gets paid by customers after 42 days, this is near the average (51 days)
42 days - Src Readymix Limited
51 days - Industry AVG
Creditor Days
its suppliers are paid after 30 days, this is quicker than average (47 days)
30 days - Src Readymix Limited
47 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Src Readymix Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 24 weeks, this is more cash available to meet short term requirements (15 weeks)
24 weeks - Src Readymix Limited
15 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 66.9%, this is a higher level of debt than the average (59.9%)
66.9% - Src Readymix Limited
59.9% - Industry AVG
SRC READYMIX LIMITED financials
Src Readymix Limited's latest turnover from December 2023 is £17.3 million and the company has net assets of £1.9 million. According to their latest financial statements, Src Readymix Limited has 36 employees and maintains cash reserves of £1.5 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | |
|---|---|---|---|---|---|---|
| Turnover | 17,309,920 | 14,708,931 | ||||
| Other Income Or Grants | ||||||
| Cost Of Sales | 15,657,999 | 13,741,980 | ||||
| Gross Profit | 1,651,921 | 966,951 | ||||
| Admin Expenses | 1,080,217 | 523,672 | ||||
| Operating Profit | 571,704 | 443,279 | ||||
| Interest Payable | 44,707 | 27,333 | ||||
| Interest Receivable | ||||||
| Pre-Tax Profit | 526,997 | 415,946 | ||||
| Tax | -128,999 | -13,014 | ||||
| Profit After Tax | 397,998 | 402,932 | ||||
| Dividends Paid | ||||||
| Retained Profit | 397,998 | 402,932 | ||||
| Employee Costs | 1,635,460 | 1,284,662 | ||||
| Number Of Employees | 36 | 34 | 25 | 2 | ||
| EBITDA* | 1,083,769 | 724,553 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | |
|---|---|---|---|---|---|---|
| Tangible Assets | 1,871,976 | 2,220,529 | 746,625 | 122,307 | 199,078 | |
| Intangible Assets | 49,413 | 34,195 | ||||
| Investments & Other | ||||||
| Debtors (Due After 1 year) | ||||||
| Total Fixed Assets | 1,921,389 | 2,254,724 | 746,625 | 122,307 | 199,078 | |
| Stock & work in progress | ||||||
| Trade Debtors | 2,022,088 | 2,081,866 | 1,275,047 | 1,310,306 | 1,147,579 | |
| Group Debtors | 232,708 | 164,744 | 201,479 | |||
| Misc Debtors | 21,755 | 83,184 | 206,463 | 154,980 | ||
| Cash | 1,541,347 | 751,548 | 876,572 | 1,259,066 | 703,667 | 100 |
| misc current assets | ||||||
| total current assets | 3,817,898 | 3,081,342 | 2,559,561 | 2,724,352 | 1,851,246 | 100 |
| total assets | 5,739,287 | 5,336,066 | 3,306,186 | 2,846,659 | 2,050,324 | 100 |
| Bank overdraft | ||||||
| Bank loan | ||||||
| Trade Creditors | 1,309,684 | 1,079,931 | 674,390 | 749,740 | 432,409 | |
| Group/Directors Accounts | 1,059,403 | 989,354 | 812,907 | |||
| other short term finances | ||||||
| hp & lease commitments | 652,823 | 665,649 | 182,127 | |||
| other current liabilities | 281,642 | 145,936 | 96,886 | 982,884 | 974,705 | |
| total current liabilities | 3,303,552 | 2,880,870 | 1,766,310 | 1,732,624 | 1,407,114 | |
| loans | ||||||
| hp & lease commitments | 306,672 | 853,130 | 354,860 | |||
| Accruals and Deferred Income | ||||||
| other liabilities | ||||||
| provisions | 227,417 | 98,418 | 84,300 | |||
| total long term liabilities | 534,089 | 951,548 | 439,160 | |||
| total liabilities | 3,837,641 | 3,832,418 | 2,205,470 | 1,732,624 | 1,407,114 | |
| net assets | 1,901,646 | 1,503,648 | 1,100,716 | 1,114,035 | 643,210 | 100 |
| total shareholders funds | 1,901,646 | 1,503,648 | 1,100,716 | 1,114,035 | 643,210 | 100 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Operating Profit | 571,704 | 443,279 | ||||
| Depreciation | 501,153 | 280,154 | 92,433 | 102,345 | 40,574 | |
| Amortisation | 10,912 | 1,120 | ||||
| Tax | -128,999 | -13,014 | ||||
| Stock | ||||||
| Debtors | -53,243 | 646,805 | 217,703 | 317,707 | 1,147,579 | |
| Creditors | 229,753 | 405,541 | -75,350 | 317,331 | 432,409 | |
| Accruals and Deferred Income | 135,706 | 49,050 | -885,998 | 8,179 | 974,705 | |
| Deferred Taxes & Provisions | 128,999 | 14,118 | 84,300 | |||
| Cash flow from operations | 1,502,471 | 533,443 | ||||
| Investing Activities | ||||||
| capital expenditure | -102,730 | -1,793,706 | ||||
| Change in Investments | ||||||
| cash flow from investments | -102,730 | -1,793,706 | ||||
| Financing Activities | ||||||
| Bank loans | ||||||
| Group/Directors Accounts | 70,049 | 176,447 | 812,907 | |||
| Other Short Term Loans | ||||||
| Long term loans | ||||||
| Hire Purchase and Lease Commitments | -559,284 | 981,792 | 536,987 | |||
| other long term liabilities | ||||||
| share issue | ||||||
| interest | -44,707 | -27,333 | ||||
| cash flow from financing | -533,942 | 1,130,906 | ||||
| cash and cash equivalents | ||||||
| cash | 789,799 | -125,024 | -382,494 | 555,399 | 703,567 | 100 |
| overdraft | ||||||
| change in cash | 789,799 | -125,024 | -382,494 | 555,399 | 703,567 | 100 |
src readymix limited Credit Report and Business Information
Src Readymix Limited Competitor Analysis
Perform a competitor analysis for src readymix limited by selecting its closest rivals, whether from the MANUFACTURING sector, other mid companies, companies in CO7 area or any other competitors across 12 key performance metrics.
src readymix limited Ownership
SRC READYMIX LIMITED group structure
Src Readymix Limited has no subsidiary companies.
Ultimate parent company
SRC READYMIX LIMITED
11229638
src readymix limited directors
Src Readymix Limited currently has 3 directors. The longest serving directors include Mr Oliver Rees (Feb 2018) and Mr Matthew Yeates (Jul 2021).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Oliver Rees | England | 37 years | Feb 2018 | - | Director |
| Mr Matthew Yeates | England | 35 years | Jul 2021 | - | Director |
| Mr John Stanford | England | 42 years | Jul 2021 | - | Director |
P&L
December 2023turnover
17.3m
+18%
operating profit
571.7k
+29%
gross margin
9.6%
+45.17%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
1.9m
+0.26%
total assets
5.7m
+0.08%
cash
1.5m
+1.05%
net assets
Total assets minus all liabilities
Similar Companies
src readymix limited company details
company number
11229638
Type
Private limited with Share Capital
industry
23630 - Manufacture of ready-mixed concrete
incorporation date
February 2018
age
7
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
December 2023
previous names
N/A
accountant
-
auditor
CROWE UK LLP
address
crown business centre, old ipswich road, colchester, CO7 7QR
Bank
-
Legal Advisor
-
src readymix 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 src readymix limited.
src readymix 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.
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src readymix limited Companies House Filings - See Documents
| date | description | view/download |
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