driveworks group limited
driveworks group limited Company Information
Company Number
13218723
Website
driveworks.co.ukRegistered Address
the barley store laskey lane, thelwall, warrington, WA4 2TF
Industry
Business and domestic software development
Engineering related scientific and technical consulting activities
Telephone
01925757585
Next Accounts Due
March 2025
Group Structure
View All
Shareholders
alan glen smith 40.2%
bgf investment management 30%
View Alldriveworks group limited Estimated Valuation
Pomanda estimates the enterprise value of DRIVEWORKS GROUP LIMITED at £3.2m based on a Turnover of £4.5m and 0.71x industry multiple (adjusted for size and gross margin).
driveworks group limited Estimated Valuation
Pomanda estimates the enterprise value of DRIVEWORKS GROUP LIMITED at £5.5m based on an EBITDA of £1.1m and a 5.28x industry multiple (adjusted for size and gross margin).
driveworks group limited Estimated Valuation
Pomanda estimates the enterprise value of DRIVEWORKS GROUP LIMITED at £25m based on Net Assets of £10.1m and 2.47x industry multiple (adjusted for liquidity).
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Driveworks Group Limited Overview
Driveworks Group Limited is a live company located in warrington, WA4 2TF with a Companies House number of 13218723. It operates in the business and domestic software development sector, SIC Code 62012. Founded in February 2021, it's largest shareholder is alan glen smith with a 40.2% stake. Driveworks Group Limited is a startup, small sized company, Pomanda has estimated its turnover at £4.5m with unknown growth in recent years.
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Driveworks Group Limited Health Check
Pomanda's financial health check has awarded Driveworks Group Limited a 4 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 3 areas for improvement. Company Health Check FAQs
5 Strong
2 Regular
3 Weak
Size
annual sales of £4.5m, make it larger than the average company (£2.6m)
£4.5m - Driveworks Group Limited
£2.6m - Industry AVG
Growth
There is insufficient data available for this Key Performance Indicator!
- Driveworks Group Limited
- - Industry AVG
Production
with a gross margin of 49%, this company has a comparable cost of product (49%)
49% - Driveworks Group Limited
49% - Industry AVG
Profitability
an operating margin of 0.6% make it less profitable than the average company (5.5%)
0.6% - Driveworks Group Limited
5.5% - Industry AVG
Employees
with 65 employees, this is above the industry average (21)
65 - Driveworks Group Limited
21 - Industry AVG
Pay Structure
on an average salary of £33.2k, the company has a lower pay structure (£55.2k)
£33.2k - Driveworks Group Limited
£55.2k - Industry AVG
Efficiency
resulting in sales per employee of £69k, this is less efficient (£119.8k)
£69k - Driveworks Group Limited
£119.8k - Industry AVG
Debtor Days
it gets paid by customers after 65 days, this is near the average (59 days)
65 days - Driveworks Group Limited
59 days - Industry AVG
Creditor Days
its suppliers are paid after 5 days, this is quicker than average (34 days)
5 days - Driveworks Group Limited
34 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Driveworks Group Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 88 weeks, this is more cash available to meet short term requirements (20 weeks)
88 weeks - Driveworks Group Limited
20 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 28%, this is a lower level of debt than the average (58.9%)
28% - Driveworks Group Limited
58.9% - Industry AVG
DRIVEWORKS GROUP LIMITED financials
Driveworks Group Limited's latest turnover from June 2023 is £4.5 million and the company has net assets of £10.1 million. According to their latest financial statements, Driveworks Group Limited has 65 employees and maintains cash reserves of £3.7 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Jun 2023 | Jun 2022 | |
|---|---|---|
| Turnover | 4,484,220 | 5,194,321 |
| Other Income Or Grants | ||
| Cost Of Sales | ||
| Gross Profit | ||
| Admin Expenses | ||
| Operating Profit | 25,464 | 134,071 |
| Interest Payable | 100,000 | 133,699 |
| Interest Receivable | 22,999 | 7,398 |
| Pre-Tax Profit | -51,537 | 7,770 |
| Tax | 122,315 | 46,297 |
| Profit After Tax | 70,778 | 54,067 |
| Dividends Paid | 0 | 0 |
| Retained Profit | 70,778 | 54,067 |
| Employee Costs | 2,161,101 | 2,100,698 |
| Number Of Employees | 65 | 52 |
| EBITDA* | 1,050,744 | 2,011,749 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Jun 2023 | Jun 2022 | |
|---|---|---|
| Tangible Assets | 214,516 | 199,654 |
| Intangible Assets | 9,025,418 | 9,510,079 |
| Investments & Other | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 |
| Total Fixed Assets | 9,239,934 | 9,709,733 |
| Stock & work in progress | 0 | 0 |
| Trade Debtors | 810,241 | 513,390 |
| Group Debtors | 0 | 0 |
| Misc Debtors | 296,245 | 259,814 |
| Cash | 3,709,019 | 2,758,179 |
| misc current assets | 0 | 0 |
| total current assets | 4,815,505 | 3,531,383 |
| total assets | 14,055,439 | 13,241,116 |
| Bank overdraft | 0 | 0 |
| Bank loan | 0 | 0 |
| Trade Creditors | 31,448 | 112,441 |
| Group/Directors Accounts | 0 | 0 |
| other short term finances | 0 | 0 |
| hp & lease commitments | 0 | 0 |
| other current liabilities | 2,151,711 | 1,491,781 |
| total current liabilities | 2,183,159 | 1,604,222 |
| loans | 1,000,000 | 1,000,000 |
| hp & lease commitments | 0 | 0 |
| Accruals and Deferred Income | 747,435 | 582,827 |
| other liabilities | 0 | 0 |
| provisions | 0 | 0 |
| total long term liabilities | 1,747,435 | 1,582,827 |
| total liabilities | 3,930,594 | 3,187,049 |
| net assets | 10,124,845 | 10,054,067 |
| total shareholders funds | 10,124,845 | 10,054,067 |
| Jun 2023 | Jun 2022 | |
|---|---|---|
| Operating Activities | ||
| Operating Profit | 25,464 | 134,071 |
| Depreciation | 68,013 | 135,975 |
| Amortisation | 957,267 | 1,741,703 |
| Tax | 122,315 | 46,297 |
| Stock | 0 | 0 |
| Debtors | 333,282 | 773,204 |
| Creditors | -80,993 | 112,441 |
| Accruals and Deferred Income | 824,538 | 2,074,608 |
| Deferred Taxes & Provisions | 0 | 0 |
| Cash flow from operations | 1,583,322 | 3,471,891 |
| Investing Activities | ||
| capital expenditure | 0 | 0 |
| Change in Investments | 0 | 0 |
| cash flow from investments | 0 | 0 |
| Financing Activities | ||
| Bank loans | 0 | 0 |
| Group/Directors Accounts | 0 | 0 |
| Other Short Term Loans | 0 | 0 |
| Long term loans | 0 | 1,000,000 |
| Hire Purchase and Lease Commitments | 0 | 0 |
| other long term liabilities | 0 | 0 |
| share issue | ||
| interest | -77,001 | -126,301 |
| cash flow from financing | -77,001 | 10,873,699 |
| cash and cash equivalents | ||
| cash | 950,840 | 2,758,179 |
| overdraft | 0 | 0 |
| change in cash | 950,840 | 2,758,179 |
driveworks group limited Credit Report and Business Information
Driveworks Group Limited Competitor Analysis
Perform a competitor analysis for driveworks group limited by selecting its closest rivals, whether from the INFORMATION AND COMMUNICATION sector, other small companies, companies in WA4 area or any other competitors across 12 key performance metrics.
driveworks group limited Ownership
DRIVEWORKS GROUP LIMITED group structure
Driveworks Group Limited has no subsidiary companies.
Ultimate parent company
DRIVEWORKS GROUP LIMITED
13218723
driveworks group limited directors
Driveworks Group Limited currently has 2 directors. The longest serving directors include Mr Mark Sarkar (Oct 2024) and Mr Philip Stears (Oct 2024).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Mark Sarkar | 31 years | Oct 2024 | - | Director | |
| Mr Philip Stears | 40 years | Oct 2024 | - | Director |
P&L
June 2023turnover
4.5m
-14%
operating profit
25.5k
-81%
gross margin
49%
-1.44%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
June 2023net assets
10.1m
+0.01%
total assets
14.1m
+0.06%
cash
3.7m
+0.34%
net assets
Total assets minus all liabilities
Similar Companies
driveworks group limited company details
company number
13218723
Type
Private limited with Share Capital
industry
82990 - Other business support service activities n.e.c.
62012 - Business and domestic software development
71122 - Engineering related scientific and technical consulting activities
incorporation date
February 2021
age
3
incorporated
UK
ultimate parent company
accounts
Group
last accounts submitted
June 2023
previous names
N/A
accountant
-
auditor
UHY HACKER YOUNG MANCHESTER LLP
address
the barley store laskey lane, thelwall, warrington, WA4 2TF
Bank
-
Legal Advisor
-
driveworks group 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 driveworks group limited.
driveworks group limited Companies House Filings - See Documents
| date | description | view/download |
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