cory topco limited
cory topco limited Company Information
Company Number
11385842
Website
-Registered Address
level 5, 10 dominion street, london, EC2M 2EF
Industry
Development of building projects
Telephone
-
Next Accounts Due
September 2025
Group Structure
View All
Shareholders
manlove alliott investments limited 52.6%
trustee of the tfl pension fund 12.4%
View Allcory topco limited Estimated Valuation
Pomanda estimates the enterprise value of CORY TOPCO LIMITED at £220m based on a Turnover of £199.5m and 1.1x industry multiple (adjusted for size and gross margin).
cory topco limited Estimated Valuation
Pomanda estimates the enterprise value of CORY TOPCO LIMITED at £663.7m based on an EBITDA of £79.2m and a 8.38x industry multiple (adjusted for size and gross margin).
cory topco limited Estimated Valuation
Pomanda estimates the enterprise value of CORY TOPCO LIMITED at £1.3b based on Net Assets of £851.5m and 1.55x industry multiple (adjusted for liquidity).
Edit your figures and get a professional valuation report.
Cory Topco Limited Overview
Cory Topco Limited is a live company located in london, EC2M 2EF with a Companies House number of 11385842. It operates in the development of building projects sector, SIC Code 41100. Founded in May 2018, it's largest shareholder is manlove alliott investments limited with a 52.5% stake. Cory Topco Limited is a young, mega sized company, Pomanda has estimated its turnover at £199.5m with high growth in recent years.
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Cory Topco Limited Health Check
Pomanda's financial health check has awarded Cory Topco Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 3 areas for improvement. Company Health Check FAQs
7 Strong
2 Regular
3 Weak
Size
annual sales of £199.5m, make it larger than the average company (£2.6m)
£199.5m - Cory Topco Limited
£2.6m - Industry AVG
Growth
3 year (CAGR) sales growth of 16%, show it is growing at a faster rate (4.6%)
16% - Cory Topco Limited
4.6% - Industry AVG
Production
with a gross margin of 22.7%, this company has a comparable cost of product (26.2%)
22.7% - Cory Topco Limited
26.2% - Industry AVG
Profitability
an operating margin of 1.7% make it less profitable than the average company (6.6%)
1.7% - Cory Topco Limited
6.6% - Industry AVG
Employees
with 373 employees, this is above the industry average (6)
373 - Cory Topco Limited
6 - Industry AVG
Pay Structure
on an average salary of £68.9k, the company has a higher pay structure (£49.1k)
£68.9k - Cory Topco Limited
£49.1k - Industry AVG
Efficiency
resulting in sales per employee of £534.7k, this is more efficient (£312.7k)
£534.7k - Cory Topco Limited
£312.7k - Industry AVG
Debtor Days
it gets paid by customers after 23 days, this is near the average (28 days)
23 days - Cory Topco Limited
28 days - Industry AVG
Creditor Days
its suppliers are paid after 6 days, this is quicker than average (31 days)
6 days - Cory Topco Limited
31 days - Industry AVG
Stock Days
it holds stock equivalent to 1 days, this is less than average (168 days)
1 days - Cory Topco Limited
168 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 118 weeks, this is more cash available to meet short term requirements (11 weeks)
118 weeks - Cory Topco Limited
11 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 56%, this is a lower level of debt than the average (74.9%)
56% - Cory Topco Limited
74.9% - Industry AVG
CORY TOPCO LIMITED financials
Cory Topco Limited's latest turnover from December 2023 is £199.5 million and the company has net assets of £851.5 million. According to their latest financial statements, Cory Topco Limited has 373 employees and maintains cash reserves of £238.7 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 | 199,451,000 | 182,856,000 | 139,783,000 | 128,377,000 | 115,422,000 | 54,956,000 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 154,261,000 | 150,002,000 | 116,210,000 | 114,483,000 | 120,893,000 | 57,137,000 |
| Gross Profit | 45,190,000 | 32,854,000 | 23,573,000 | 13,894,000 | -5,471,000 | -2,181,000 |
| Admin Expenses | 41,710,000 | 44,721,000 | 29,514,000 | 28,091,000 | 4,728,000 | 30,829,000 |
| Operating Profit | 3,480,000 | -11,867,000 | -5,941,000 | -14,197,000 | -10,199,000 | -33,010,000 |
| Interest Payable | 32,911,000 | 28,006,000 | 15,690,000 | 16,202,000 | 17,406,000 | 43,126,000 |
| Interest Receivable | 5,830,000 | 1,502,000 | 15,000 | 47,000 | 285,000 | 33,000 |
| Pre-Tax Profit | -29,502,000 | -87,526,000 | -164,363,000 | -9,160,000 | 3,846,000 | -167,619,000 |
| Tax | 17,010,000 | 20,082,000 | -22,750,000 | -18,791,000 | 10,654,000 | 6,688,000 |
| Profit After Tax | -12,492,000 | -67,444,000 | -187,113,000 | -27,951,000 | 14,500,000 | -160,931,000 |
| Dividends Paid | 113,400,000 | 44,600,000 | 0 | 0 | 23,000,000 | 3,700,000 |
| Retained Profit | -125,892,000 | -112,044,000 | -187,113,000 | -27,951,000 | -8,500,000 | -164,631,000 |
| Employee Costs | 25,716,000 | 27,718,000 | 22,268,000 | 21,653,000 | 19,635,000 | 9,219,000 |
| Number Of Employees | 373 | 370 | 319 | 314 | 320 | 60 |
| EBITDA* | 79,239,000 | 63,636,000 | 66,850,000 | 57,798,000 | 61,365,000 | 2,303,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | |
|---|---|---|---|---|---|---|
| Tangible Assets | 1,439,132,000 | 1,354,414,000 | 1,375,656,000 | 1,384,106,000 | 1,415,425,000 | 1,466,680,000 |
| Intangible Assets | 179,112,000 | 193,356,000 | 204,188,000 | 218,262,000 | 232,367,000 | 246,352,000 |
| Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors (Due After 1 year) | 28,195,000 | 50,169,000 | 44,676,000 | 10,747,000 | 11,790,000 | 1,929,000 |
| Total Fixed Assets | 1,646,439,000 | 1,597,939,000 | 1,579,844,000 | 1,602,368,000 | 1,659,582,000 | 1,714,961,000 |
| Stock & work in progress | 488,000 | 201,000 | 201,000 | 42,000 | 86,000 | 92,000 |
| Trade Debtors | 13,081,000 | 12,842,000 | 10,395,000 | 8,874,000 | 7,394,000 | 7,282,000 |
| Group Debtors | 0 | 0 | 0 | 0 | 0 | 0 |
| Misc Debtors | 36,713,000 | 21,989,000 | 12,585,000 | 10,786,000 | 14,747,000 | 16,066,000 |
| Cash | 238,742,000 | 426,997,000 | 91,199,000 | 79,607,000 | 67,702,000 | 45,927,000 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 289,024,000 | 462,029,000 | 114,380,000 | 99,309,000 | 89,929,000 | 69,367,000 |
| total assets | 1,935,463,000 | 2,059,968,000 | 1,694,224,000 | 1,701,677,000 | 1,749,511,000 | 1,784,328,000 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 2,707,000 | 3,653,000 | 1,574,000 | 1,020,000 | 1,315,000 | 665,000 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 |
| other short term finances | 24,795,000 | 50,054,000 | 44,000 | 43,000 | 45,000 | 44,000 |
| hp & lease commitments | 0 | 111,000 | 0 | 0 | 0 | 0 |
| other current liabilities | 77,019,000 | 37,466,000 | 31,528,000 | 30,943,000 | 21,723,000 | 15,379,000 |
| total current liabilities | 104,521,000 | 91,284,000 | 33,146,000 | 32,006,000 | 23,083,000 | 16,088,000 |
| loans | 579,011,000 | 550,421,000 | 566,879,000 | 553,393,000 | 611,759,000 | 541,559,000 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 693,000 | 774,000 | 0 | 0 | 0 | 0 |
| other liabilities | 214,707,000 | 216,314,000 | 175,761,000 | 52,251,000 | 0 | 94,312,000 |
| provisions | 185,014,000 | 209,930,000 | 504,466,000 | 385,710,000 | 177,515,000 | 179,758,000 |
| total long term liabilities | 979,425,000 | 977,439,000 | 994,873,000 | 798,499,000 | 789,274,000 | 815,629,000 |
| total liabilities | 1,083,946,000 | 1,068,723,000 | 1,028,019,000 | 830,505,000 | 812,357,000 | 831,717,000 |
| net assets | 851,517,000 | 991,245,000 | 666,205,000 | 871,172,000 | 937,154,000 | 952,611,000 |
| total shareholders funds | 851,517,000 | 991,245,000 | 666,205,000 | 871,172,000 | 937,154,000 | 952,611,000 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Operating Profit | 3,480,000 | -11,867,000 | -5,941,000 | -14,197,000 | -10,199,000 | -33,010,000 |
| Depreciation | 61,515,000 | 61,267,000 | 58,717,000 | 57,890,000 | 57,579,000 | 28,172,000 |
| Amortisation | 14,244,000 | 14,236,000 | 14,074,000 | 14,105,000 | 13,985,000 | 7,141,000 |
| Tax | 17,010,000 | 20,082,000 | -22,750,000 | -18,791,000 | 10,654,000 | 6,688,000 |
| Stock | 287,000 | 0 | 159,000 | -44,000 | -6,000 | 92,000 |
| Debtors | -7,011,000 | 17,344,000 | 37,249,000 | -3,524,000 | 8,654,000 | 25,277,000 |
| Creditors | -946,000 | 2,079,000 | 554,000 | -295,000 | 650,000 | 665,000 |
| Accruals and Deferred Income | 39,472,000 | 6,712,000 | 585,000 | 9,220,000 | 6,344,000 | 15,379,000 |
| Deferred Taxes & Provisions | -24,916,000 | -294,536,000 | 118,756,000 | 208,195,000 | -2,243,000 | 179,758,000 |
| Cash flow from operations | 116,583,000 | -219,371,000 | 126,587,000 | 259,695,000 | 68,122,000 | 179,424,000 |
| Investing Activities | ||||||
| capital expenditure | 0 | 0 | 0 | 92,704,000 | ||
| Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | 0 | 0 | 0 | 92,704,000 | ||
| Financing Activities | ||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Short Term Loans | -25,259,000 | 50,010,000 | 1,000 | -2,000 | 1,000 | 44,000 |
| Long term loans | 28,590,000 | -16,458,000 | 13,486,000 | -58,366,000 | 70,200,000 | 541,559,000 |
| Hire Purchase and Lease Commitments | -111,000 | 111,000 | 0 | 0 | 0 | 0 |
| other long term liabilities | -1,607,000 | 40,553,000 | 123,510,000 | 52,251,000 | -94,312,000 | 94,312,000 |
| share issue | ||||||
| interest | -27,081,000 | -26,504,000 | -15,675,000 | -16,155,000 | -17,121,000 | -43,093,000 |
| cash flow from financing | -39,304,000 | 484,796,000 | 103,468,000 | -60,303,000 | -48,189,000 | 1,710,064,000 |
| cash and cash equivalents | ||||||
| cash | -188,255,000 | 335,798,000 | 11,592,000 | 11,905,000 | 21,775,000 | 45,927,000 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | -188,255,000 | 335,798,000 | 11,592,000 | 11,905,000 | 21,775,000 | 45,927,000 |
cory topco limited Credit Report and Business Information
Cory Topco Limited Competitor Analysis
Perform a competitor analysis for cory topco limited by selecting its closest rivals, whether from the CONSTRUCTION sector, other mega companies, companies in EC2M area or any other competitors across 12 key performance metrics.
cory topco limited Ownership
CORY TOPCO LIMITED group structure
Cory Topco Limited has 1 subsidiary company.
Ultimate parent company
1 parent
CORY TOPCO LIMITED
11385842
1 subsidiary
cory topco limited directors
Cory Topco Limited currently has 10 directors. The longest serving directors include Mr Jason Cogley (May 2018) and Mr Andrew Rhodes (May 2018).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Jason Cogley | United Kingdom | 52 years | May 2018 | - | Director |
| Mr Andrew Rhodes | United Kingdom | 54 years | May 2018 | - | Director |
| Mr William Doughty | United Kingdom | 56 years | Jun 2018 | - | Director |
| Mr John Barry | United Kingdom | 56 years | Aug 2018 | - | Director |
| Mr Benjamin Butler | United Kingdom | 43 years | Jan 2019 | - | Director |
| Mr Alistair Ray | United Kingdom | 50 years | Apr 2019 | - | Director |
| Mr Douglas Sutherland | 59 years | May 2019 | - | Director | |
| Mr Mark Draper | 61 years | Jan 2021 | - | Director | |
| Mr George Tasker | England | 31 years | May 2023 | - | Director |
| Mr Scott Springett | England | 56 years | Apr 2024 | - | Director |
P&L
December 2023turnover
199.5m
+9%
operating profit
3.5m
-129%
gross margin
22.7%
+26.1%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
851.5m
-0.14%
total assets
1.9b
-0.06%
cash
238.7m
-0.44%
net assets
Total assets minus all liabilities
cory topco limited company details
company number
11385842
Type
Private limited with Share Capital
industry
41100 - Development of building projects
incorporation date
May 2018
age
6
incorporated
UK
ultimate parent company
accounts
Group
last accounts submitted
December 2023
previous names
dusty topco limited (December 2018)
accountant
-
auditor
BDO LLP
address
level 5, 10 dominion street, london, EC2M 2EF
Bank
-
Legal Advisor
-
cory topco 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 cory topco limited.
cory topco limited Companies House Filings - See Documents
| date | description | view/download |
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