driveforce automotive ltd
driveforce automotive ltd Company Information
Company Number
11647098
Website
www.transcarwestbury.co.ukRegistered Address
westfield park hortham lane, almondsbury, bristol, BS32 4JP
Industry
Freight transport by road
Telephone
441373866668
Next Accounts Due
July 2025
Group Structure
View All
Shareholders
lucas chapman 33.3%
john owen 33.3%
View Alldriveforce automotive ltd Estimated Valuation
Pomanda estimates the enterprise value of DRIVEFORCE AUTOMOTIVE LTD at £1.4m based on a Turnover of £3.1m and 0.44x industry multiple (adjusted for size and gross margin).
driveforce automotive ltd Estimated Valuation
Pomanda estimates the enterprise value of DRIVEFORCE AUTOMOTIVE LTD at £899.6k based on an EBITDA of £223.4k and a 4.03x industry multiple (adjusted for size and gross margin).
driveforce automotive ltd Estimated Valuation
Pomanda estimates the enterprise value of DRIVEFORCE AUTOMOTIVE LTD at £432.4k based on Net Assets of £172.2k and 2.51x industry multiple (adjusted for liquidity).
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Driveforce Automotive Ltd Overview
Driveforce Automotive Ltd is a live company located in bristol, BS32 4JP with a Companies House number of 11647098. It operates in the freight transport by road sector, SIC Code 49410. Founded in October 2018, it's largest shareholder is lucas chapman with a 33.3% stake. Driveforce Automotive Ltd is a young, small sized company, Pomanda has estimated its turnover at £3.1m with high growth in recent years.
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Driveforce Automotive Ltd Health Check
Pomanda's financial health check has awarded Driveforce Automotive Ltd a 3.5 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 £3.1m, make it smaller than the average company (£8.1m)
- Driveforce Automotive Ltd
£8.1m - Industry AVG
Growth
3 year (CAGR) sales growth of 20%, show it is growing at a faster rate (8.7%)
- Driveforce Automotive Ltd
8.7% - Industry AVG
Production
with a gross margin of 22.2%, this company has a comparable cost of product (22.2%)
- Driveforce Automotive Ltd
22.2% - Industry AVG
Profitability
an operating margin of 6.6% make it as profitable than the average company (5.7%)
- Driveforce Automotive Ltd
5.7% - Industry AVG
Employees
with 17 employees, this is below the industry average (55)
17 - Driveforce Automotive Ltd
55 - Industry AVG
Pay Structure
on an average salary of £39.6k, the company has an equivalent pay structure (£39.6k)
- Driveforce Automotive Ltd
£39.6k - Industry AVG
Efficiency
resulting in sales per employee of £183.7k, this is more efficient (£131.3k)
- Driveforce Automotive Ltd
£131.3k - Industry AVG
Debtor Days
it gets paid by customers after 54 days, this is near the average (52 days)
- Driveforce Automotive Ltd
52 days - Industry AVG
Creditor Days
its suppliers are paid after 58 days, this is slower than average (29 days)
- Driveforce Automotive Ltd
29 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- Driveforce Automotive Ltd
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 9 weeks, this is less cash available to meet short term requirements (14 weeks)
9 weeks - Driveforce Automotive Ltd
14 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 83.6%, this is a higher level of debt than the average (61.3%)
83.6% - Driveforce Automotive Ltd
61.3% - Industry AVG
DRIVEFORCE AUTOMOTIVE LTD financials
Driveforce Automotive Ltd's latest turnover from October 2023 is estimated at £3.1 million and the company has net assets of £172.2 thousand. According to their latest financial statements, Driveforce Automotive Ltd has 17 employees and maintains cash reserves of £112.8 thousand as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Oct 2023 | Oct 2022 | Oct 2021 | Oct 2020 | Oct 2019 | |
|---|---|---|---|---|---|
| Turnover | |||||
| Other Income Or Grants | |||||
| Cost Of Sales | |||||
| Gross Profit | |||||
| Admin Expenses | |||||
| Operating Profit | |||||
| Interest Payable | |||||
| Interest Receivable | |||||
| Pre-Tax Profit | |||||
| Tax | |||||
| Profit After Tax | |||||
| Dividends Paid | |||||
| Retained Profit | |||||
| Employee Costs | |||||
| Number Of Employees | 17 | ||||
| EBITDA* |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Oct 2023 | Oct 2022 | Oct 2021 | Oct 2020 | Oct 2019 | |
|---|---|---|---|---|---|
| Tangible Assets | 348,864 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Investments & Other | 0 | 0 | 0 | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 348,864 | 0 | 0 | 0 | 0 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 464,429 | 322,848 | 391,905 | 260,248 | 0 |
| Group Debtors | 0 | 0 | 0 | 0 | 0 |
| Misc Debtors | 123,683 | 35,048 | 19,223 | 2,548 | 39 |
| Cash | 112,842 | 19,964 | 61,601 | 61,546 | 0 |
| misc current assets | 0 | 0 | 0 | 0 | 0 |
| total current assets | 700,954 | 377,860 | 472,729 | 324,342 | 39 |
| total assets | 1,049,818 | 377,860 | 472,729 | 324,342 | 39 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 391,982 | 245,809 | 386,474 | 213,586 | 0 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 |
| other short term finances | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 206,394 | 117,287 | 71,784 | 97,495 | 0 |
| total current liabilities | 598,376 | 363,096 | 458,258 | 311,081 | 0 |
| loans | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 226,326 | 0 | 0 | 0 | 0 |
| provisions | 52,907 | 0 | 0 | 0 | 0 |
| total long term liabilities | 279,233 | 0 | 0 | 0 | 0 |
| total liabilities | 877,609 | 363,096 | 458,258 | 311,081 | 0 |
| net assets | 172,209 | 14,764 | 14,471 | 13,261 | 39 |
| total shareholders funds | 172,209 | 14,764 | 14,471 | 13,261 | 39 |
| Oct 2023 | Oct 2022 | Oct 2021 | Oct 2020 | Oct 2019 | |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Operating Profit | |||||
| Depreciation | 16,773 | 0 | 0 | 0 | 0 |
| Amortisation | 0 | 0 | 0 | 0 | 0 |
| Tax | |||||
| Stock | 0 | 0 | 0 | 0 | 0 |
| Debtors | 230,216 | -53,232 | 148,332 | 262,757 | 39 |
| Creditors | 146,173 | -140,665 | 172,888 | 213,586 | 0 |
| Accruals and Deferred Income | 89,107 | 45,503 | -25,711 | 97,495 | 0 |
| Deferred Taxes & Provisions | 52,907 | 0 | 0 | 0 | 0 |
| Cash flow from operations | |||||
| Investing Activities | |||||
| capital expenditure | |||||
| Change in Investments | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | |||||
| Financing Activities | |||||
| Bank loans | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 |
| Other Short Term Loans | 0 | 0 | 0 | 0 | 0 |
| Long term loans | 0 | 0 | 0 | 0 | 0 |
| Hire Purchase and Lease Commitments | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 226,326 | 0 | 0 | 0 | 0 |
| share issue | |||||
| interest | |||||
| cash flow from financing | |||||
| cash and cash equivalents | |||||
| cash | 92,878 | -41,637 | 55 | 61,546 | 0 |
| overdraft | 0 | 0 | 0 | 0 | 0 |
| change in cash | 92,878 | -41,637 | 55 | 61,546 | 0 |
driveforce automotive ltd Credit Report and Business Information
Driveforce Automotive Ltd Competitor Analysis
Perform a competitor analysis for driveforce automotive ltd by selecting its closest rivals, whether from the TRANSPORTATION AND STORAGE sector, other small companies, companies in BS32 area or any other competitors across 12 key performance metrics.
driveforce automotive ltd Ownership
DRIVEFORCE AUTOMOTIVE LTD group structure
Driveforce Automotive Ltd has no subsidiary companies.
Ultimate parent company
DRIVEFORCE AUTOMOTIVE LTD
11647098
driveforce automotive ltd directors
Driveforce Automotive Ltd currently has 3 directors. The longest serving directors include Mr John Owen (Oct 2018) and Mr Gary Chapman (Oct 2018).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr John Owen | England | 61 years | Oct 2018 | - | Director |
| Mr Gary Chapman | United Kingdom | 65 years | Oct 2018 | - | Director |
| Mr Lucas Chapman | England | 36 years | Nov 2022 | - | Director |
P&L
October 2023turnover
3.1m
+50%
operating profit
206.6k
0%
gross margin
22.3%
+4.49%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
October 2023net assets
172.2k
+10.66%
total assets
1m
+1.78%
cash
112.8k
+4.65%
net assets
Total assets minus all liabilities
driveforce automotive ltd company details
company number
11647098
Type
Private limited with Share Capital
industry
49410 - Freight transport by road
incorporation date
October 2018
age
6
incorporated
UK
ultimate parent company
accounts
Total Exemption Full
last accounts submitted
October 2023
previous names
transcar westbury ltd (January 2023)
accountant
-
auditor
-
address
westfield park hortham lane, almondsbury, bristol, BS32 4JP
Bank
-
Legal Advisor
-
driveforce automotive 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 2 charges/mortgages relating to driveforce automotive ltd. Currently there are 1 open charges and 1 have been satisfied in the past.
driveforce automotive ltd Companies House Filings - See Documents
| date | description | view/download |
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