Horse First Limited

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SOLUTIONS

horse first limited Company Information

Live

EstablishedSmallDeclining

Company Number

NI069230

Website

www.horsefirst.net

Registered Address

11/14, flurrybridge enterprise centre, newry, county down, BT35 8SQ

Industry

Manufacture of prepared pet foods

Telephone

02830848844

Next Accounts Due

October 2024

Group Structure

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Directors

Patrick Hughes16 Years

Tanya Hughes8 Years

Shareholders

patrick hughes 100%

horse first limited Estimated Valuation

£562k

Pomanda estimates the enterprise value of HORSE FIRST LIMITED at £562k based on a Turnover of £954.2k and 0.59x industry multiple (adjusted for size and gross margin).

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Horse First Limited is a live company located in newry, BT35 8SQ with a Companies House number of NI069230. It operates in the manufacture of prepared pet foods sector, SIC Code 10920. Founded in May 2008, it's largest shareholder is patrick hughes with a 100% stake. Horse First Limited is a established, small sized company, Pomanda has estimated its turnover at £954.2k with declining growth in recent years.

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Pomanda's financial health check has awarded Horse First Limited a 4 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 5 areas for improvement. Company Health Check FAQs

Health Rating4out of 5

3 Strong

4 Regular

5 Weak

Size

annual sales of £954.2k, make it smaller than the average company (£33.7m)

Growth

3 year (CAGR) sales growth of -3%, show it is growing at a slower rate (9%)

EXPORT

Horse First Limited's latest turnover from January 2023 is estimated at £954.2 thousand and the company has net assets of £206.1 thousand. According to their latest financial statements, Horse First Limited has 8 employees and maintains cash reserves of £142.3 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Jan 2018	Jan 2017	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012	Jan 2011	Jan 2010
Turnover	954,227	1,051,783	879,688	1,042,642	1,966,447	1,859,366	1,216,397	1,095,150	870,275	825,331	816,236	698,957	596,200	673,660
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	689,910	765,876	617,064	781,832	1,424,660	1,356,156	863,463	800,978	664,038	621,076	633,287	545,061	460,407	533,858
Gross Profit	264,317	285,906	262,624	260,811	541,787	503,210	352,935	294,172	206,237	204,256	182,949	153,896	135,793	139,802
Admin Expenses	236,577	237,933	161,422	271,981	545,549	488,140	328,968	242,878	196,240	192,140	181,797	130,563	111,376	149,685
Operating Profit	27,740	47,973	101,202	-11,170	-3,762	15,070	23,967	51,294	9,997	12,116	1,152	23,333	24,417	-9,883
Interest Payable	5,480	4,021	3,620	2,313	0	3,593	7,395	4,098	0	0	0	5,349	10,814	5,465
Interest Receivable	4,904	296	51	9	0	6	14	59	92	60	7	35	32	0
Pre-Tax Profit	27,164	44,248	97,632	-13,474	-3,762	11,483	16,586	47,255	10,089	12,177	1,159	18,019	13,636	-15,348
Tax	-5,161	-8,407	-18,550	0	0	-2,182	-3,317	-9,451	-2,119	-2,801	-278	-4,685	-3,818	0
Profit After Tax	22,003	35,841	79,082	-13,474	-3,762	9,301	13,269	37,804	7,970	9,376	881	13,334	9,818	-15,348
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	22,003	35,841	79,082	-13,474	-3,762	9,301	13,269	37,804	7,970	9,376	881	13,334	9,818	-15,348
Employee Costs	287,018	278,033	242,444	260,384	309,815	308,907	225,737	228,748	119,390	84,257	106,859	82,623	79,797	91,541
Number Of Employees	8	8	7	8	9	10	8	8	4	3	4	3	3	3
EBITDA*	34,964	64,910	138,011	-11,170	-3,762	15,070	36,540	66,208	83,088	63,453	50,720	65,836	61,871	26,945

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Jan 2018	Jan 2017	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012	Jan 2011	Jan 2010
Tangible Assets	50,202	57,426	74,363	64,040	50,729	57,212	67,874	55,954	65,420	36,134	61,618	86,702	85,518	94,638
Intangible Assets	0	0	0	0	0	0	0	0	0	55,000	66,000	77,000	88,000	99,000
Investments & Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	50,202	57,426	74,363	64,040	50,729	57,212	67,874	55,954	65,420	91,134	127,618	163,702	173,518	193,638
Stock & work in progress	84,358	70,592	76,426	78,718	0	0	80,110	71,284	54,633	39,700	35,300	32,528	21,588	11,244
Trade Debtors	77,105	105,976	80,326	110,636	256,588	233,290	143,063	133,637	128,742	120,525	109,331	95,998	88,044	79,735
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	15,257	14,603	16,666	16,278	4,183	0	36,016	30,839	0	0	0	0	0	0
Cash	142,256	137,966	98,624	2,376	0	0	2,227	9,220	14,465	22,377	1,764	974	12,915	0
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	318,976	329,137	272,042	208,008	260,771	233,290	261,416	244,980	197,840	182,602	146,395	129,500	122,547	90,979
total assets	369,178	386,563	346,405	272,048	311,500	290,502	329,290	300,934	263,260	273,736	274,013	293,202	296,065	284,617
Bank overdraft	13,013	44,976	7,274	68,520	0	0	85,454	87,499	0	0	0	0	52,592	77,987
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	67,296	68,083	80,196	78,518	222,746	185,378	124,071	85,691	162,835	163,945	163,298	166,579	126,522	131,400
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	6,980	406
other current liabilities	35,242	41,248	44,629	42,172	0	0	14,697	19,290	0	0	0	0	0	0
total current liabilities	115,551	154,307	132,099	189,210	222,746	185,378	224,222	192,480	162,835	163,945	163,298	166,579	186,094	209,793
loans	23,876	33,505	42,901	0	0	0	25,093	38,590	0	0	0	0	111,979	90,170
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	5,464	14,657	23,152	13,667	6,111	18,719	2,869	6,027	74,392	91,728	102,028	118,817	3,520	0
provisions	18,190	0	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	47,530	48,162	66,053	13,667	6,111	18,719	27,962	44,617	74,392	91,728	102,028	118,817	115,499	90,170
total liabilities	163,081	202,469	198,152	202,877	228,857	204,097	252,184	237,097	237,227	255,673	265,326	285,396	301,593	299,963
net assets	206,097	184,094	148,253	69,171	82,643	86,405	77,106	63,837	26,033	18,063	8,687	7,806	-5,528	-15,346
total shareholders funds	206,097	184,094	148,253	69,171	82,643	86,405	77,106	63,837	26,033	18,063	8,687	7,806	-5,528	-15,346

	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Jan 2018	Jan 2017	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012	Jan 2011	Jan 2010
Operating Activities
Operating Profit	27,740	47,973	101,202	-11,170	-3,762	15,070	23,967	51,294	9,997	12,116	1,152	23,333	24,417	-9,883
Depreciation	7,224	16,937	36,809	0	0	0	12,573	14,914	18,091	40,337	38,568	31,503	26,454	25,828
Amortisation	0	0	0	0	0	0	0	0	55,000	11,000	11,000	11,000	11,000	11,000
Tax	-5,161	-8,407	-18,550	0	0	-2,182	-3,317	-9,451	-2,119	-2,801	-278	-4,685	-3,818	0
Stock	13,766	-5,834	-2,292	78,718	0	-80,110	8,826	16,651	14,933	4,400	2,772	10,940	10,344	11,244
Debtors	-28,217	23,587	-29,922	-133,857	27,481	54,211	14,603	35,734	8,217	11,194	13,333	7,954	8,309	79,735
Creditors	-787	-12,113	1,678	-144,228	37,368	61,307	38,380	-77,144	-1,110	647	-3,281	40,057	-4,878	131,400
Accruals and Deferred Income	-6,006	-3,381	2,457	42,172	0	-14,697	-4,593	19,290	0	0	0	0	0	0
Deferred Taxes & Provisions	18,190	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	55,651	23,256	155,810	-58,087	6,125	85,397	43,581	-53,482	56,709	45,705	31,056	82,314	34,522	67,366
Investing Activities
capital expenditure	0	0	-47,132	-13,311	6,483	10,662	-24,493	-5,448	-47,377	-14,853	-13,484	-32,687	-17,334	-230,466
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	0	0	-47,132	-13,311	6,483	10,662	-24,493	-5,448	-47,377	-14,853	-13,484	-32,687	-17,334	-230,466
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	-9,629	-9,396	42,901	0	0	-25,093	-13,497	38,590	0	0	0	-111,979	21,809	90,170
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0	-6,980	6,574	406
other long term liabilities	-9,193	-8,495	9,485	7,556	-12,608	15,850	-3,158	-68,365	-17,336	-10,300	-16,789	115,297	3,520	0
share issue	0	0	0	2	0	-2	0	0	0	0	0	0	0	2
interest	-576	-3,725	-3,569	-2,304	0	-3,587	-7,381	-4,039	92	60	7	-5,314	-10,782	-5,465
cash flow from financing	-19,398	-21,616	48,817	5,254	-12,608	-12,832	-24,036	-33,814	-17,244	-10,240	-16,782	-8,976	21,121	85,113
cash and cash equivalents
cash	4,290	39,342	96,248	2,376	0	-2,227	-6,993	-5,245	-7,912	20,613	790	-11,941	12,915	0
overdraft	-31,963	37,702	-61,246	68,520	0	-85,454	-2,045	87,499	0	0	0	-52,592	-25,395	77,987
change in cash	36,253	1,640	157,494	-66,144	0	83,227	-4,948	-92,744	-7,912	20,613	790	40,651	38,310	-77,987

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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HORSE FIRST LIMITED group structure

Horse First Limited has no subsidiary companies.

Ultimate parent company

HORSE FIRST LIMITED

NI069230

HORSE FIRST LIMITED Shareholders

patrick hughes

100%

Horse First Limited currently has 2 directors. The longest serving directors include Mr Patrick Hughes (Sep 2008) and Mrs Tanya Hughes (Jun 2016).

officer	country	age	start	end	role
Mr Patrick Hughes	Northern Ireland	61 years	Sep 2008	-	Director
Mrs Tanya Hughes		52 years	Jun 2016	-	Director

P&L

January 2023

turnover

954.2k

-9%

operating profit

27.7k

gross margin

27.7%

+1.9%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

January 2023

net assets

206.1k

+0.12%

total assets

369.2k

-0.04%

cash

142.3k

+0.03%

net assets

Total assets minus all liabilities

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company number

NI069230

Type

Private limited with Share Capital

industry

10920 - Manufacture of prepared pet foods

incorporation date

May 2008

accounts

Total Exemption Full

ultimate parent company

None

previous names

sarcon (no. 295) limited (May 2008)

last accounts submitted

January 2023

address

11/14, flurrybridge enterprise centre, newry, county down, BT35 8SQ

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.

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horse first limited Company Information

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horse first limited Estimated Valuation

horse first limited Estimated Valuation

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HORSE FIRST LIMITED financials

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horse first limited Ownership

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