ncipher security limited
ncipher security limited Company Information
Company Number
11673268
Website
www.ncipher.comRegistered Address
1 station square, cambridge, CB1 2GA
Industry
Wholesale of computers, computer peripheral equipment and software
Telephone
01223723711
Next Accounts Due
December 2024
Group Structure
View All
Shareholders
data card international limited 100%
ncipher security limited Estimated Valuation
Pomanda estimates the enterprise value of NCIPHER SECURITY LIMITED at £99m based on a Turnover of £69.6m and 1.42x industry multiple (adjusted for size and gross margin).
ncipher security limited Estimated Valuation
Pomanda estimates the enterprise value of NCIPHER SECURITY LIMITED at £328.4m based on an EBITDA of £17.8m and a 18.46x industry multiple (adjusted for size and gross margin).
ncipher security limited Estimated Valuation
Pomanda estimates the enterprise value of NCIPHER SECURITY LIMITED at £41.2m based on Net Assets of £26.3m and 1.57x industry multiple (adjusted for liquidity).
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Ncipher Security Limited Overview
Ncipher Security Limited is a live company located in cambridge, CB1 2GA with a Companies House number of 11673268. It operates in the wholesale of computers, computer peripheral equipment and software sector, SIC Code 46510. Founded in November 2018, it's largest shareholder is data card international limited with a 100% stake. Ncipher Security Limited is a young, large sized company, Pomanda has estimated its turnover at £69.6m with healthy growth in recent years.
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Ncipher Security Limited Health Check
Pomanda's financial health check has awarded Ncipher Security Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 8 measures and has 4 areas for improvement. Company Health Check FAQs
8 Strong
0 Regular
4 Weak
Size
annual sales of £69.6m, make it larger than the average company (£20.3m)
£69.6m - Ncipher Security Limited
£20.3m - Industry AVG
Growth
3 year (CAGR) sales growth of 12%, show it is growing at a faster rate (5.4%)
12% - Ncipher Security Limited
5.4% - Industry AVG
Production
with a gross margin of 73.3%, this company has a lower cost of product (19.7%)
73.3% - Ncipher Security Limited
19.7% - Industry AVG
Profitability
an operating margin of 20.1% make it more profitable than the average company (3.7%)
20.1% - Ncipher Security Limited
3.7% - Industry AVG
Employees
with 189 employees, this is above the industry average (46)
189 - Ncipher Security Limited
46 - Industry AVG
Pay Structure
on an average salary of £90.5k, the company has a higher pay structure (£60.8k)
£90.5k - Ncipher Security Limited
£60.8k - Industry AVG
Efficiency
resulting in sales per employee of £368.1k, this is less efficient (£542k)
£368.1k - Ncipher Security Limited
£542k - Industry AVG
Debtor Days
it gets paid by customers after 34 days, this is earlier than average (51 days)
34 days - Ncipher Security Limited
51 days - Industry AVG
Creditor Days
its suppliers are paid after 47 days, this is slower than average (34 days)
47 days - Ncipher Security Limited
34 days - Industry AVG
Stock Days
it holds stock equivalent to 179 days, this is more than average (26 days)
179 days - Ncipher Security Limited
26 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 12 weeks, this is less cash available to meet short term requirements (16 weeks)
12 weeks - Ncipher Security Limited
16 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 52.7%, this is a lower level of debt than the average (62.2%)
52.7% - Ncipher Security Limited
62.2% - Industry AVG
NCIPHER SECURITY LIMITED financials
Ncipher Security Limited's latest turnover from March 2023 is £69.6 million and the company has net assets of £26.3 million. According to their latest financial statements, Ncipher Security Limited has 189 employees and maintains cash reserves of £4.7 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | |
|---|---|---|---|---|---|
| Turnover | 69,562,000 | 57,317,000 | 48,883,000 | 49,682,000 | |
| Other Income Or Grants | 0 | 0 | 0 | 0 | |
| Cost Of Sales | 18,566,000 | 11,379,000 | 10,469,000 | 7,385,000 | |
| Gross Profit | 50,996,000 | 45,938,000 | 38,414,000 | 42,297,000 | |
| Admin Expenses | 37,025,000 | 34,815,000 | 32,569,000 | 31,905,000 | |
| Operating Profit | 13,971,000 | 11,123,000 | 5,845,000 | 10,392,000 | |
| Interest Payable | 165,000 | 173,000 | 770,000 | 18,000 | |
| Interest Receivable | 57,000 | 0 | 0 | 36,000 | |
| Pre-Tax Profit | 13,863,000 | 10,950,000 | 5,075,000 | 16,738,000 | |
| Tax | -3,000 | -2,172,000 | -791,000 | -1,610,000 | |
| Profit After Tax | 13,860,000 | 8,778,000 | 4,284,000 | 15,128,000 | |
| Dividends Paid | 8,700,000 | 138,022,000 | 0 | 0 | |
| Retained Profit | 5,160,000 | -129,244,000 | 4,284,000 | 15,128,000 | |
| Employee Costs | 17,103,000 | 16,840,000 | 14,711,000 | 12,238,000 | |
| Number Of Employees | 189 | 186 | 181 | 168 | |
| EBITDA* | 17,791,000 | 15,123,000 | 10,432,000 | 14,603,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | |
|---|---|---|---|---|---|
| Tangible Assets | 2,173,000 | 2,745,000 | 3,409,000 | 4,240,000 | 0 |
| Intangible Assets | 17,880,000 | 20,711,000 | 23,541,000 | 26,342,000 | 0 |
| Investments & Other | 0 | 0 | 0 | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 815,000 | 0 |
| Total Fixed Assets | 20,053,000 | 23,456,000 | 26,950,000 | 31,397,000 | 0 |
| Stock & work in progress | 9,131,000 | 3,902,000 | 795,000 | 479,000 | 0 |
| Trade Debtors | 6,499,000 | 7,967,000 | 15,748,000 | 6,817,000 | 0 |
| Group Debtors | 5,652,000 | 5,289,000 | 0 | 13,935,000 | 0 |
| Misc Debtors | 9,577,000 | 4,893,000 | 0 | 1,634,000 | 0 |
| Cash | 4,711,000 | 3,655,000 | 2,290,000 | 4,554,000 | 0 |
| misc current assets | 0 | 0 | 0 | 0 | 0 |
| total current assets | 35,570,000 | 25,706,000 | 18,833,000 | 27,419,000 | 0 |
| total assets | 55,623,000 | 49,162,000 | 45,783,000 | 58,816,000 | 0 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 2,395,000 | 1,252,000 | 1,547,000 | 1,874,000 | 0 |
| Group/Directors Accounts | 1,596,000 | 1,355,000 | 0 | 963,000 | 0 |
| other short term finances | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 15,893,000 | 15,149,000 | 13,203,000 | 14,950,000 | 0 |
| total current liabilities | 19,884,000 | 17,756,000 | 14,750,000 | 17,787,000 | 0 |
| loans | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 8,948,000 | 8,107,000 | 3,961,000 | 4,130,000 | 0 |
| other liabilities | 0 | 1,600,000 | 0 | 0 | 0 |
| provisions | 466,000 | 534,000 | 708,000 | 569,000 | 0 |
| total long term liabilities | 9,414,000 | 10,241,000 | 4,669,000 | 4,699,000 | 0 |
| total liabilities | 29,298,000 | 27,997,000 | 19,419,000 | 22,486,000 | 0 |
| net assets | 26,325,000 | 21,165,000 | 26,364,000 | 36,330,000 | 0 |
| total shareholders funds | 26,325,000 | 21,165,000 | 26,364,000 | 36,330,000 | 0 |
| Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Operating Profit | 13,971,000 | 11,123,000 | 5,845,000 | 10,392,000 | |
| Depreciation | 990,000 | 1,170,000 | 1,759,000 | 1,672,000 | |
| Amortisation | 2,830,000 | 2,830,000 | 2,828,000 | 2,539,000 | |
| Tax | -3,000 | -2,172,000 | -791,000 | -1,610,000 | |
| Stock | 5,229,000 | 3,107,000 | 316,000 | 479,000 | 0 |
| Debtors | 3,579,000 | 2,401,000 | -7,453,000 | 23,201,000 | 0 |
| Creditors | 1,143,000 | -295,000 | -327,000 | 1,874,000 | 0 |
| Accruals and Deferred Income | 1,585,000 | 6,092,000 | -1,916,000 | 19,080,000 | 0 |
| Deferred Taxes & Provisions | -68,000 | -174,000 | 139,000 | 569,000 | 0 |
| Cash flow from operations | 11,640,000 | 13,066,000 | 14,674,000 | 10,836,000 | |
| Investing Activities | |||||
| capital expenditure | 0 | 0 | 0 | 0 | |
| Change in Investments | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | 0 | 0 | 0 | 0 | |
| Financing Activities | |||||
| Bank loans | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 241,000 | 1,355,000 | -963,000 | 963,000 | 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 | -1,600,000 | 1,600,000 | 0 | 0 | 0 |
| share issue | |||||
| interest | -108,000 | -173,000 | -770,000 | 18,000 | |
| cash flow from financing | -1,467,000 | 126,827,000 | -15,983,000 | 22,183,000 | |
| cash and cash equivalents | |||||
| cash | 1,056,000 | 1,365,000 | -2,264,000 | 4,554,000 | 0 |
| overdraft | 0 | 0 | 0 | 0 | 0 |
| change in cash | 1,056,000 | 1,365,000 | -2,264,000 | 4,554,000 | 0 |
ncipher security limited Credit Report and Business Information
Ncipher Security Limited Competitor Analysis
Perform a competitor analysis for ncipher security limited by selecting its closest rivals and benchmarking them against 12 key performance metrics.
ncipher security limited Ownership
NCIPHER SECURITY LIMITED group structure
Ncipher Security Limited has no subsidiary companies.
Ultimate parent company
ENTRUST DATACARD CORP
#0091438
2 parents
NCIPHER SECURITY LIMITED
11673268
ncipher security limited directors
Ncipher Security Limited currently has 3 directors. The longest serving directors include Ms Lisa Tibbits (Jun 2019) and Mr Kurt Ishaug (Jun 2019).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Ms Lisa Tibbits | United States | 56 years | Jun 2019 | - | Director |
| Mr Kurt Ishaug | England | 57 years | Jun 2019 | - | Director |
| Ms Lisa Tibbits | England | 56 years | Jun 2019 | - | Director |
P&L
March 2023turnover
69.6m
+21%
operating profit
14m
+26%
gross margin
73.4%
-8.53%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
March 2023net assets
26.3m
+0.24%
total assets
55.6m
+0.13%
cash
4.7m
+0.29%
net assets
Total assets minus all liabilities
ncipher security limited company details
company number
11673268
Type
Private limited with Share Capital
industry
46510 - Wholesale of computers, computer peripheral equipment and software
incorporation date
November 2018
age
6
accounts
Audit Exemption Subsidiary
ultimate parent company
previous names
N/A
incorporated
UK
address
1 station square, cambridge, CB1 2GA
last accounts submitted
March 2023
ncipher security 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 1 charges/mortgages relating to ncipher security limited. Currently there are 1 open charges and 0 have been satisfied in the past.
ncipher security limited Companies House Filings - See Documents
| date | description | view/download |
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