project nearshore limited
project nearshore limited Company Information
Company Number
11294575
Website
www.godeltech.comRegistered Address
9th floor, neo charlotte street, manchester, M1 4ET
Industry
Computer consultancy activities
Telephone
01612198100
Next Accounts Due
September 2024
Group Structure
View All
Shareholders
lowry trading limited 92.6%
lowry trading 5.5%
View Allproject nearshore limited Estimated Valuation
Pomanda estimates the enterprise value of PROJECT NEARSHORE LIMITED at £97.3m based on a Turnover of £80.9m and 1.2x industry multiple (adjusted for size and gross margin).
project nearshore limited Estimated Valuation
Pomanda estimates the enterprise value of PROJECT NEARSHORE LIMITED at £217.7m based on an EBITDA of £22.5m and a 9.69x industry multiple (adjusted for size and gross margin).
project nearshore limited Estimated Valuation
Pomanda estimates the enterprise value of PROJECT NEARSHORE LIMITED at £40.3m based on Net Assets of £19.1m and 2.11x industry multiple (adjusted for liquidity).
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Project Nearshore Limited Overview
Project Nearshore Limited is a live company located in manchester, M1 4ET with a Companies House number of 11294575. It operates in the information technology consultancy activities sector, SIC Code 62020. Founded in April 2018, it's largest shareholder is lowry trading limited with a 92.6% stake. Project Nearshore Limited is a young, large sized company, Pomanda has estimated its turnover at £80.9m with rapid growth in recent years.
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Project Nearshore Limited Health Check
Pomanda's financial health check has awarded Project Nearshore Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 8 measures and has 2 areas for improvement. Company Health Check FAQs
8 Strong
1 Regular
2 Weak
Size
annual sales of £80.9m, make it larger than the average company (£1.9m)
£80.9m - Project Nearshore Limited
£1.9m - Industry AVG
Growth
3 year (CAGR) sales growth of 31%, show it is growing at a faster rate (4.4%)
31% - Project Nearshore Limited
4.4% - Industry AVG
Production
with a gross margin of 37.5%, this company has a comparable cost of product (46%)
37.5% - Project Nearshore Limited
46% - Industry AVG
Profitability
an operating margin of 24% make it more profitable than the average company (7.7%)
24% - Project Nearshore Limited
7.7% - Industry AVG
Employees
with 1812 employees, this is above the industry average (16)
1812 - Project Nearshore Limited
16 - Industry AVG
Pay Structure
on an average salary of £18.3k, the company has a lower pay structure (£55.8k)
£18.3k - Project Nearshore Limited
£55.8k - Industry AVG
Efficiency
resulting in sales per employee of £44.6k, this is less efficient (£127.8k)
£44.6k - Project Nearshore Limited
£127.8k - Industry AVG
Debtor Days
it gets paid by customers after 37 days, this is earlier than average (65 days)
37 days - Project Nearshore Limited
65 days - Industry AVG
Creditor Days
its suppliers are paid after 33 days, this is slower than average (30 days)
33 days - Project Nearshore Limited
30 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Project Nearshore Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 45 weeks, this is more cash available to meet short term requirements (19 weeks)
45 weeks - Project Nearshore Limited
19 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 65.5%, this is a higher level of debt than the average (58.7%)
65.5% - Project Nearshore Limited
58.7% - Industry AVG
PROJECT NEARSHORE LIMITED financials
Project Nearshore Limited's latest turnover from December 2022 is £80.9 million and the company has net assets of £19.1 million. According to their latest financial statements, Project Nearshore Limited has 1,812 employees and maintains cash reserves of £21.5 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | |
|---|---|---|---|---|---|
| Turnover | 80,859,679 | 62,311,417 | 45,915,349 | 35,594,324 | 15,426,128 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 50,514,929 | 33,085,983 | 26,584,704 | 18,566,755 | 7,921,680 |
| Gross Profit | 30,344,750 | 29,225,434 | 19,330,645 | 17,027,569 | 7,504,448 |
| Admin Expenses | 10,919,942 | 10,301,121 | 9,132,722 | 11,102,767 | 5,063,103 |
| Operating Profit | 19,424,808 | 18,924,313 | 10,197,923 | 5,924,802 | 2,441,345 |
| Interest Payable | 1,793,791 | 1,804,383 | 2,537,100 | 2,911,030 | 1,917,959 |
| Interest Receivable | 29,058 | 20,562 | 15,059 | 18,461 | 4,690 |
| Pre-Tax Profit | 17,660,075 | 17,140,492 | 7,675,882 | 3,032,233 | 528,076 |
| Tax | -5,300,736 | -3,591,317 | -2,845,212 | -1,464,349 | -32,577 |
| Profit After Tax | 12,359,339 | 13,549,175 | 4,830,670 | 1,567,884 | 495,499 |
| Dividends Paid | 6,100,000 | 500,000 | 0 | 0 | 0 |
| Retained Profit | 6,259,339 | 13,049,175 | 4,830,670 | 1,567,884 | 495,499 |
| Employee Costs | 33,220,053 | 36,044,351 | 28,990,572 | 21,696,200 | 8,705,367 |
| Number Of Employees | 1,812 | 1,311 | 1,211 | 894 | 644 |
| EBITDA* | 22,474,265 | 21,784,937 | 12,915,753 | 8,541,427 | 4,094,191 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | |
|---|---|---|---|---|---|
| Tangible Assets | 1,073,908 | 1,555,016 | 1,224,336 | 1,505,283 | 1,104,897 |
| Intangible Assets | 22,209,121 | 24,348,308 | 26,414,184 | 28,561,988 | 30,596,240 |
| Investments & Other | 0 | 0 | 0 | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 23,283,029 | 25,903,324 | 27,638,520 | 30,067,271 | 31,701,137 |
| Stock & work in progress | 0 | 56,742 | 0 | 0 | 0 |
| Trade Debtors | 8,248,194 | 6,422,358 | 6,167,319 | 6,290,629 | 4,202,381 |
| Group Debtors | 112,608 | 0 | 439,420 | 79,777 | 641,066 |
| Misc Debtors | 2,285,143 | 2,036,116 | 443,228 | 421,867 | 1,167,623 |
| Cash | 21,523,198 | 14,370,349 | 13,638,019 | 4,350,406 | 1,937,279 |
| misc current assets | 0 | 0 | 0 | 0 | 0 |
| total current assets | 32,169,143 | 22,885,565 | 20,687,986 | 11,142,679 | 7,948,349 |
| total assets | 55,452,172 | 48,788,889 | 48,326,506 | 41,209,950 | 39,649,486 |
| Bank overdraft | 0 | 0 | 42,183 | 0 | 0 |
| Bank loan | 11,140,189 | 3,683,864 | 3,588,864 | 1,604,167 | 1,646,600 |
| Trade Creditors | 4,685,903 | 811,521 | 2,972,118 | 1,019,494 | 237,533 |
| Group/Directors Accounts | 8,267 | 0 | 0 | 0 | 645,845 |
| other short term finances | 0 | 0 | 2,129,768 | 1,322,208 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 8,820,419 | 8,576,440 | 7,995,504 | 3,646,319 | 2,646,945 |
| total current liabilities | 24,654,778 | 13,071,825 | 16,728,437 | 7,592,188 | 5,176,923 |
| loans | 11,647,452 | 23,554,232 | 31,116,695 | 27,807,954 | 33,839,778 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 290,807 | 0 | 0 |
| other liabilities | 0 | 0 | 1,111,745 | 3,604,814 | 0 |
| provisions | 12,846 | 7,098 | 32,695 | 37,636 | 38,375 |
| total long term liabilities | 11,660,298 | 23,561,330 | 32,551,942 | 31,450,404 | 33,878,153 |
| total liabilities | 36,315,076 | 36,633,155 | 49,280,379 | 39,042,592 | 39,055,076 |
| net assets | 19,137,096 | 12,155,734 | -953,873 | 2,167,358 | 594,410 |
| total shareholders funds | 19,137,096 | 12,155,734 | -953,873 | 2,167,358 | 594,410 |
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Operating Profit | 19,424,808 | 18,924,313 | 10,197,923 | 5,924,802 | 2,441,345 |
| Depreciation | 753,604 | 636,751 | 516,664 | 333,855 | 143,048 |
| Amortisation | 2,295,853 | 2,223,873 | 2,201,166 | 2,282,770 | 1,509,798 |
| Tax | -5,300,736 | -3,591,317 | -2,845,212 | -1,464,349 | -32,577 |
| Stock | -56,742 | 56,742 | 0 | 0 | 0 |
| Debtors | 2,187,471 | 1,408,507 | 257,694 | 781,203 | 6,011,070 |
| Creditors | 3,874,382 | -2,160,597 | 1,952,624 | 781,961 | 237,533 |
| Accruals and Deferred Income | 243,979 | 290,129 | 4,639,992 | 999,374 | 2,646,945 |
| Deferred Taxes & Provisions | 5,748 | -25,597 | -4,941 | -739 | 38,375 |
| Cash flow from operations | 19,166,909 | 14,832,306 | 16,400,522 | 8,076,471 | 973,397 |
| Investing Activities | |||||
| capital expenditure | 0 | 0 | 0 | 0 | -33,373,209 |
| Change in Investments | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | 0 | 0 | 0 | 0 | -33,373,209 |
| Financing Activities | |||||
| Bank loans | 7,456,325 | 95,000 | 1,984,697 | -42,433 | 1,646,600 |
| Group/Directors Accounts | 8,267 | 0 | 0 | -645,845 | 645,845 |
| Other Short Term Loans | 0 | -2,129,768 | 807,560 | 1,322,208 | 0 |
| Long term loans | -11,906,780 | -7,562,463 | 3,308,741 | -6,031,824 | 33,839,778 |
| Hire Purchase and Lease Commitments | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | -1,111,745 | -2,493,069 | 3,604,814 | 0 |
| share issue | |||||
| interest | -1,764,733 | -1,783,821 | -2,522,041 | -2,892,569 | -1,913,269 |
| cash flow from financing | -5,484,898 | -12,432,365 | -6,866,013 | -4,680,585 | 34,317,865 |
| cash and cash equivalents | |||||
| cash | 7,152,849 | 732,330 | 9,287,613 | 2,413,127 | 1,937,279 |
| overdraft | 0 | -42,183 | 42,183 | 0 | 0 |
| change in cash | 7,152,849 | 774,513 | 9,245,430 | 2,413,127 | 1,937,279 |
project nearshore limited Credit Report and Business Information
Project Nearshore Limited Competitor Analysis
Perform a competitor analysis for project nearshore limited by selecting its closest rivals and benchmarking them against 12 key performance metrics.
project nearshore limited Ownership
PROJECT NEARSHORE LIMITED group structure
Project Nearshore Limited has 1 subsidiary company.
Ultimate parent company
THE SCOTT FLETCHER 2008 DISCRETIONARY
#0102759
2 parents
PROJECT NEARSHORE LIMITED
11294575
1 subsidiary
project nearshore limited directors
Project Nearshore Limited currently has 5 directors. The longest serving directors include Mr Robert Nugent (Apr 2018) and Mr Scott Fletcher (Apr 2018).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Robert Nugent | England | 41 years | Apr 2018 | - | Director |
| Mr Scott Fletcher | England | 50 years | Apr 2018 | - | Director |
| Mr Andrew Afanasenko | United Kingdom | 41 years | Sep 2021 | - | Director |
| Mr Neil McMurdo | United Kingdom | 45 years | Sep 2021 | - | Director |
| Mr Gareth Ainsworth | United Kingdom | 43 years | May 2024 | - | Director |
P&L
December 2022turnover
80.9m
+30%
operating profit
19.4m
+3%
gross margin
37.6%
-19.99%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2022net assets
19.1m
+0.57%
total assets
55.5m
+0.14%
cash
21.5m
+0.5%
net assets
Total assets minus all liabilities
Similar Companies
project nearshore limited company details
company number
11294575
Type
Private limited with Share Capital
industry
62020 - Computer consultancy activities
incorporation date
April 2018
age
6
accounts
Group
ultimate parent company
previous names
N/A
incorporated
UK
address
9th floor, neo charlotte street, manchester, M1 4ET
last accounts submitted
December 2022
project nearshore 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 4 charges/mortgages relating to project nearshore limited. Currently there are 4 open charges and 0 have been satisfied in the past.
project nearshore limited Companies House Filings - See Documents
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