Cirdan Imaging Limited

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cirdan imaging limited Company Information

Live

EstablishedMidHealthy

Company Number

NI603247

Website

www.cirdan.com

Registered Address

the green tullynacross road, lisburn, BT27 5SR

Industry

Manufacture of medical and dental instruments and supplies

Telephone

02892660880

Next Accounts Due

March 2025

Group Structure

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Directors

Hugh Cormican14 Years

Stephen Dunniece14 Years

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Shareholders

kernel capital 23.5%

hugh cormican 17.2%

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cirdan imaging limited Estimated Valuation

£13.3m

Pomanda estimates the enterprise value of CIRDAN IMAGING LIMITED at £13.3m based on Net Assets of £5.8m and 2.3x industry multiple (adjusted for liquidity).

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Cirdan Imaging Limited is a live company located in lisburn, BT27 5SR with a Companies House number of NI603247. It operates in the manufacture of medical and dental instruments and supplies sector, SIC Code 32500. Founded in May 2010, it's largest shareholder is kernel capital with a 23.5% stake. Cirdan Imaging Limited is a established, mid sized company, Pomanda has estimated its turnover at £5.3m with healthy growth in recent years.

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

Health Rating4out of 5

5 Strong

2 Regular

5 Weak

Size

annual sales of £5.3m, make it smaller than the average company (£16.7m)

Growth

3 year (CAGR) sales growth of 6%, show it is growing at a similar rate (6.1%)

EXPORT

Cirdan Imaging Limited's latest turnover from June 2023 is £5.3 million and the company has net assets of £5.8 million. According to their latest financial statements, Cirdan Imaging Limited has 95 employees and maintains cash reserves of £1.1 million as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Jun 2013	Jun 2012	Jun 2011
Turnover	5,322,370	5,092,169	5,201,697	4,505,318	4,005,815	2,874,816	2,297,409	270,431	3,105,494	2,815,807	84,041	561,100	246,872
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,683,973	1,903,532	1,993,002	1,388,931	1,271,091	945,136	801,151	153,488	906,512	1,059,533	56,291	330,185	146,492
Gross Profit	3,638,397	3,188,637	3,208,695	3,116,387	2,734,724	1,929,680	1,496,258	116,943	2,198,982	1,756,274	27,750	230,915	100,380
Admin Expenses	6,066,555	5,301,798	4,885,360	5,304,995	4,012,809	2,886,133	3,173,911	608,601	2,132,460	1,735,225	414,817	681,761	250,946
Operating Profit	-2,428,158	-2,113,161	-1,676,665	-2,188,608	-1,278,085	-956,453	-1,677,653	-491,658	66,522	21,049	-387,067	-450,846	-150,566
Interest Payable	258,464	289,469	428,775	111,467	27,126	23,752	18,500	30,400	21,302	17,963	11,149	0	0
Interest Receivable	0	0	0	0	168	80	2,055	5,279	16	448	1,104	557	80
Pre-Tax Profit	-1,804,783	-1,587,308	-930,023	-1,996,505	-1,009,396	-501,143	-1,393,833	-516,779	45,236	3,534	-397,112	-450,289	-150,486
Tax	-6,694	0	0	0	0	0	0	0	-18,291	-5,194	0	0	0
Profit After Tax	-1,811,477	-1,587,308	-930,023	-1,996,505	-1,009,396	-501,143	-1,393,833	-516,779	26,945	-1,660	-397,112	-450,289	-150,486
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-1,811,477	-1,587,308	-930,023	-1,996,505	-1,009,396	-501,143	-1,393,833	-516,779	26,945	-1,660	-397,112	-450,289	-150,486
Employee Costs	2,776,585	2,536,560	2,561,751	3,039,285	2,597,696	1,871,266	1,556,546	114,142	1,036,638	806,157	288,566	176,339	70,823
Number Of Employees	95	101	97	56	51	42	32	3	24	21	1	5	2
EBITDA*	-2,054,352	-1,796,389	-1,397,889	-2,040,041	-1,067,206	-756,982	-1,477,196	-417,150	343,810	178,949	-367,206	-434,669	-144,980

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Jun 2012	Jun 2011
Tangible Assets	202,480	272,440	353,376	210,499	169,606	249,607	336,838	73,299	512,527	330,630	82,618	66,801
Intangible Assets	8,141,120	6,836,114	4,508,283	2,329,581	2,099,625	2,099,023	1,928,076	787,447	935,857	852,789	228,334	143,541
Investments & Other	0	0	0	0	0	0	0	153,100	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	8,343,600	7,108,554	4,861,659	2,540,080	2,269,231	2,348,630	2,264,914	1,013,846	1,448,384	1,183,419	310,952	210,342
Stock & work in progress	253,412	252,533	284,130	287,753	311,934	203,648	176,939	129,367	107,575	67,924	27,604	10,937
Trade Debtors	1,218,396	925,865	1,154,313	1,067,021	733,960	554,654	375,862	37,930	483,917	1,009,908	104,573	45,252
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	996,147	1,890,553	2,164,457	1,163,335	869,678	963,444	336,194	1,453,005	116,437	106,920	0	0
Cash	1,119,404	426,877	1,379,642	624,341	162,083	485,631	575,904	1,658,277	453,279	240,480	190,705	31,947
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	3,587,359	3,495,828	4,982,542	3,142,450	2,077,655	2,207,377	1,464,899	3,278,579	1,161,208	1,425,232	322,882	88,136
total assets	11,930,959	10,604,382	9,844,201	5,682,530	4,346,886	4,556,007	3,729,813	4,292,425	2,609,592	2,608,651	633,834	298,478
Bank overdraft	5,377	302	924	49,234	8,289	1,979	36,000	0	0	0	0	0
Bank loan	145,586	134,220	134,220	134,220	33,711	36,000	0	36,000	36,000	0	0	0
Trade Creditors	702,213	976,089	467,455	878,436	512,516	514,517	466,372	46,779	287,833	341,504	96,806	49,964
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	0	0
other short term finances	632,965	632,965	632,965	264,545	0	0	0	0	0	0	0	0
hp & lease commitments	2,438	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	1,346,336	590,452	558,273	574,050	462,827	290,174	296,194	100,753	345,060	492,624	0	0
total current liabilities	2,834,915	2,334,028	1,793,837	1,900,485	1,017,343	842,670	798,566	183,532	668,893	834,128	96,806	49,964
loans	2,195,063	2,265,140	1,511,484	1,698,234	563,288	560,999	377,685	413,685	449,685	494,685	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	1,102,230	614,210	594,323	173,683	290,973	265,525	303,905	0	270,972	561,066	0	0
other liabilities	5	5	0	0	0	0	0	0	0	0	300,000	100,000
provisions	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	3,297,298	2,879,355	2,105,807	1,871,917	854,261	826,524	681,590	413,685	720,657	1,055,751	300,000	100,000
total liabilities	6,132,213	5,213,383	3,899,644	3,772,402	1,871,604	1,669,194	1,480,156	597,217	1,389,550	1,889,879	396,806	149,964
net assets	5,798,746	5,390,999	5,944,557	1,910,128	2,475,282	2,886,813	2,249,657	3,695,208	1,220,042	718,772	237,028	148,514
total shareholders funds	5,798,746	5,390,999	5,944,557	1,910,128	2,475,282	2,886,813	2,249,657	3,695,208	1,220,042	718,772	237,028	148,514

	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Jun 2013	Jun 2012	Jun 2011
Operating Activities
Operating Profit	-2,428,158	-2,113,161	-1,676,665	-2,188,608	-1,278,085	-956,453	-1,677,653	-491,658	66,522	21,049	-387,067	-450,846	-150,566
Depreciation	95,914	109,089	134,851	78,784	113,333	154,159	132,614	29,073	120,644	69,058	19,861	16,177	5,586
Amortisation	277,892	207,683	143,925	69,783	97,546	45,312	67,843	45,435	156,644	88,842	0	0	0
Tax	-6,694	0	0	0	0	0	0	0	-18,291	-5,194	0	0	0
Stock	879	-31,597	-3,623	-24,181	108,286	26,709	47,572	21,792	39,651	67,924	-27,604	16,667	10,937
Debtors	-601,875	-502,352	1,088,414	626,718	85,540	806,042	-778,879	890,581	-516,474	1,116,828	-104,573	59,321	45,252
Creditors	-273,876	508,634	-410,981	365,920	-2,001	48,145	419,593	-241,054	-53,671	341,504	-96,806	46,842	49,964
Accruals and Deferred Income	1,243,904	52,066	404,863	-6,067	198,101	-44,400	499,346	-515,279	-437,658	1,053,690	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	-490,022	-701,740	-2,488,798	-2,282,725	-1,064,932	-1,585,988	173,050	-2,085,856	311,013	384,197	-331,835	-463,815	-151,205
Investing Activities
capital expenditure	0	0	0	-430,888	-131,480	195,878	-111,380	513,130	-542,253	-1,341,319	291,091	-116,787	-215,928
Change in Investments	0	0	0	0	0	0	-153,100	153,100	0	0	0	0	0
cash flow from investments	0	0	0	-430,888	-131,480	195,878	41,720	360,030	-542,253	-1,341,319	291,091	-116,787	-215,928
Financing Activities
Bank loans	11,366	0	0	100,509	-2,289	36,000	-36,000	0	36,000	0	0	0	0
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Short Term Loans	0	0	368,420	264,545	0	0	0	0	0	0	0	0	0
Long term loans	-70,077	753,656	-186,750	1,134,946	2,289	183,314	-36,000	-36,000	-45,000	494,685	0	0	0
Hire Purchase and Lease Commitments	2,438	0	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	0	5	0	0	0	0	0	0	0	0	-300,000	200,000	100,000
share issue	2,219,224	1,033,750	4,964,452	1,431,351	597,865	1,138,299	-51,718	2,991,945	474,325	720,432	160,084	538,803	299,000
interest	-258,464	-289,469	-428,775	-111,467	-26,958	-23,672	-16,445	-25,121	-21,286	-17,515	-10,045	557	80
cash flow from financing	1,904,487	1,497,942	4,717,347	2,819,884	570,907	1,333,941	-140,163	2,930,824	444,039	1,197,602	-149,961	739,360	399,080
cash and cash equivalents
cash	692,527	-952,765	755,301	462,258	-323,548	-90,273	-1,082,373	1,204,998	212,799	240,480	-190,705	158,758	31,947
overdraft	5,075	-622	-48,310	40,945	6,310	-34,021	36,000	0	0	0	0	0	0
change in cash	687,452	-952,143	803,611	421,313	-329,858	-56,252	-1,118,373	1,204,998	212,799	240,480	-190,705	158,758	31,947

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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CIRDAN IMAGING LIMITED group structure

Cirdan Imaging Limited has 3 subsidiary companies.

Ultimate parent company

CIRDAN IMAGING LIMITED

NI603247

3 subsidiaries

CIRDAN ULTRA LTD

NI618335

ASYLIA LTD

NI060705

CIRDAN PATH XL LIMITED

NI670190

CIRDAN IMAGING LIMITED Shareholders

kernel capital	23.53%
hugh cormican	17.19%
invest northern ireland	11.4%
qubis ltd	7.44%
uk ff nominees limited	7.28%
kainos	6.7%
stephen dunniece	5.92%
kcp nominees (bbi) fund limited	4.15%
kevin mccormack	2.76%
john mccaffrey	1.41%

Cirdan Imaging Limited currently has 7 directors. The longest serving directors include Dr Hugh Cormican (May 2010) and Mr Stephen Dunniece (Jun 2010).

officer	country	age	start	end	role
Dr Hugh Cormican		62 years	May 2010	-	Director
Mr Stephen Dunniece	Northern Ireland	55 years	Jun 2010	-	Director
Mr James Doherty	Northern Ireland	77 years	Oct 2010	-	Director
Mr Frank Bryan		61 years	Dec 2011	-	Director
Mr Neil Simms	United Kingdom	50 years	Jul 2016	-	Director
Mr Sigurdur Saevarsson	Northern Ireland	52 years	Jul 2020	-	Director
Ms Denise Sidhu	Northern Ireland	53 years	Jan 2022	-	Director

P&L

June 2023

turnover

5.3m

+5%

operating profit

-2.4m

+15%

gross margin

68.4%

+9.17%

turnover

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

Balance Sheet

June 2023

net assets

5.8m

+0.08%

total assets

11.9m

+0.13%

cash

1.1m

+1.62%

net assets

Total assets minus all liabilities

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company number

NI603247

Type

Private limited with Share Capital

industry

32500 - Manufacture of medical and dental instruments and supplies

incorporation date

May 2010

accounts

Group

ultimate parent company

None

previous names

beechmount enterprises limited (June 2010)

last accounts submitted

June 2023

address

the green tullynacross road, lisburn, BT27 5SR

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 5 charges/mortgages relating to cirdan imaging limited. Currently there are 5 open charges and 0 have been satisfied in the past.

cirdan imaging limited Company Information

cirdan imaging limited Estimated Valuation

cirdan imaging limited Estimated Valuation

cirdan imaging limited Estimated Valuation

Cirdan Imaging Limited Overview

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