mifinity uk limited
mifinity uk limited Company Information
Company Number
NI611169
Website
www.mifinity.comRegistered Address
28 school road, newtownbreda, belfast, BT8 6BT
Industry
Other activities auxiliary to financial services, except insurance and pension funding
Telephone
02895870100
Next Accounts Due
September 2024
Group Structure
View All
Shareholders
mifinity payments limited 100%
mifinity uk limited Estimated Valuation
The estimated valuation range for mifinity uk limited, derived from financial data as of December 2022 and the most recent industry multiples, is between £0 to £4.5m
mifinity uk limited Estimated Valuation
The estimated valuation range for mifinity uk limited, derived from financial data as of December 2022 and the most recent industry multiples, is between £0 to £4.5m
mifinity uk limited Estimated Valuation
The estimated valuation range for mifinity uk limited, derived from financial data as of December 2022 and the most recent industry multiples, is between £0 to £4.5m
Get a detailed valuation report, edit figures and unlock valuation multiples.
Mifinity Uk Limited AI Business Plan
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Mifinity Uk Limited Overview
Mifinity Uk Limited is a live company located in belfast, BT8 6BT with a Companies House number of NI611169. It operates in the activities auxiliary to financial intermediation n.e.c. sector, SIC Code 66190. Founded in February 2012, it's largest shareholder is mifinity payments limited with a 100% stake. Mifinity Uk Limited is a established, mid sized company, Pomanda has estimated its turnover at £5.4m with declining growth in recent years.
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Mifinity Uk Limited Health Check
Pomanda's financial health check has awarded Mifinity Uk Limited a 2.5 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 7 areas for improvement. Company Health Check FAQs
3 Strong
1 Regular
7 Weak
Size
annual sales of £5.4m, make it larger than the average company (£3.2m)
£5.4m - Mifinity Uk Limited
£3.2m - Industry AVG
Growth
3 year (CAGR) sales growth of -17%, show it is growing at a slower rate (4.3%)
-17% - Mifinity Uk Limited
4.3% - Industry AVG
Production
with a gross margin of 1.1%, this company has a higher cost of product (84.7%)
1.1% - Mifinity Uk Limited
84.7% - Industry AVG
Profitability
an operating margin of -18.9% make it less profitable than the average company (9.2%)
-18.9% - Mifinity Uk Limited
9.2% - Industry AVG
Employees
with 9 employees, this is below the industry average (15)
9 - Mifinity Uk Limited
15 - Industry AVG
Pay Structure
on an average salary of £78k, the company has an equivalent pay structure (£78k)
- Mifinity Uk Limited
£78k - Industry AVG
Efficiency
resulting in sales per employee of £599.7k, this is more efficient (£189.7k)
£599.7k - Mifinity Uk Limited
£189.7k - Industry AVG
Debtor Days
it gets paid by customers after 482 days, this is later than average (31 days)
482 days - Mifinity Uk Limited
31 days - Industry AVG
Creditor Days
its suppliers are paid after 567 days, this is slower than average (31 days)
567 days - Mifinity Uk Limited
31 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Mifinity Uk Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 31 weeks, this is less cash available to meet short term requirements (42 weeks)
31 weeks - Mifinity Uk Limited
42 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 86.8%, this is a higher level of debt than the average (47.4%)
86.8% - Mifinity Uk Limited
47.4% - Industry AVG
mifinity uk limited Credit Report and Business Information
Mifinity Uk Limited Competitor Analysis
Perform a competitor analysis for mifinity uk limited by selecting its closest rivals and benchmarking them against 12 key performance metrics.
mifinity uk limited Ownership
MIFINITY UK LIMITED group structure
Mifinity Uk Limited has no subsidiary companies.
Ultimate parent company
MIFINITY PAYMENTS LTD
#0075722
MIFINITY PAYMENTS LIMITED
IE597220
2 parents
MIFINITY UK LIMITED
NI611169
mifinity uk limited directors
Mifinity Uk Limited currently has 2 directors. The longest serving directors include Mr Paul Kavanagh (Feb 2017) and Mr Kieron Nolan (Feb 2017).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Paul Kavanagh | Ireland | 63 years | Feb 2017 | - | Director |
| Mr Kieron Nolan | Ireland | 55 years | Feb 2017 | - | Director |
MIFINITY UK LIMITED financials
Mifinity Uk Limited's latest turnover from December 2022 is £5.4 million and the company has net assets of £2.1 million. According to their latest financial statements, Mifinity Uk Limited has 9 employees and maintains cash reserves of £8.4 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 5,397,214 | 1,906,336 | 2,346,745 | 9,317,247 | 8,003,352 | 5,383,415 | 1,438,392 | ||||
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Cost Of Sales | 5,340,071 | 2,343,897 | 3,132,880 | 8,088,704 | 7,051,179 | 4,652,911 | 1,246,447 | ||||
| Gross Profit | 57,143 | -437,561 | -786,135 | 1,228,543 | 952,173 | 730,504 | 191,945 | ||||
| Admin Expenses | 1,079,546 | 253,128 | 326,510 | 571,094 | 510,067 | 539,410 | 151,142 | ||||
| Operating Profit | -1,022,403 | -690,689 | -1,112,645 | 657,449 | 442,106 | 191,094 | 40,803 | ||||
| Interest Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Interest Receivable | 0 | 0 | 0 | 0 | 486 | 356 | 0 | ||||
| Pre-Tax Profit | -1,022,403 | -690,689 | -1,112,645 | 657,449 | 442,592 | 191,450 | 40,803 | ||||
| Tax | 270,782 | 382,318 | 389,197 | 190,380 | -96,938 | -39,590 | -8,161 | ||||
| Profit After Tax | -751,621 | -308,371 | -723,448 | 847,829 | 345,654 | 151,861 | 32,642 | ||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Retained Profit | -751,621 | -308,371 | -723,448 | 847,829 | 345,654 | 151,861 | 32,642 | ||||
| Employee Costs | 313,732 | 346,347 | 52,891 | ||||||||
| Number Of Employees | 9 | 4 | 4 | 3 | 4 | 4 | |||||
| EBITDA* | -1,022,403 | -690,635 | -1,111,824 | 658,326 | 451,858 | 201,048 | 46,935 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 0 | 0 | 54 | 875 | 1,800 | 3,764 | 9,903 | 14,849 | 21,086 | 25,255 | 0 |
| Intangible Assets | 424 | 424 | 430 | 430 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | 1,200 | 1,052 | 1,080 | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 424 | 424 | 484 | 1,305 | 1,800 | 3,764 | 11,103 | 15,901 | 22,166 | 25,255 | 0 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 7,128,393 | 5,483,842 | 2,593,599 | 2,103,506 | 6,987 | 54,060 | 2,151,273 | 11,062 | 23,017 | 3,662 | 0 |
| Group Debtors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 519,470 | 0 | 0 |
| Misc Debtors | 604,616 | 59,749 | 110,801 | 59,232 | 1,708,264 | 4,779,231 | 0 | 75,846 | 382,813 | 107,638 | 0 |
| Cash | 8,401,657 | 4,213,273 | 4,507,567 | 9,868,761 | 13,027,435 | 11,930,874 | 4,367,245 | 8,800,139 | 9,398,019 | 4,208,210 | 0 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 16,134,666 | 9,756,864 | 7,211,967 | 12,031,499 | 14,742,686 | 16,764,165 | 6,518,518 | 8,887,048 | 10,323,320 | 4,319,511 | 0 |
| total assets | 16,135,090 | 9,757,288 | 7,212,451 | 12,032,804 | 14,744,486 | 16,767,929 | 6,529,621 | 8,902,949 | 10,345,486 | 4,344,767 | 0 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 8,297,255 | 3,336,514 | 2,456,862 | 6,449,798 | 8,690,547 | 10,089,504 | 5,651,949 | 6,244,634 | 6,486,873 | 2,107,656 | 0 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 163,443 | 2,640,185 | 1,788,695 | 0 |
| other short term finances | 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 |
| other current liabilities | 5,712,104 | 3,543,422 | 1,522,272 | 1,626,240 | 2,951,025 | 5,269,024 | 0 | 1,532,645 | 585,602 | 54,319 | 0 |
| total current liabilities | 14,009,359 | 6,879,936 | 3,979,134 | 8,076,038 | 11,641,572 | 15,358,528 | 5,651,949 | 7,940,722 | 9,712,660 | 3,950,670 | 0 |
| loans | 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 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total liabilities | 14,009,359 | 6,879,936 | 3,979,134 | 8,076,038 | 11,641,572 | 15,358,528 | 5,651,949 | 7,940,722 | 9,712,660 | 3,950,670 | 0 |
| net assets | 2,125,731 | 2,877,352 | 3,233,317 | 3,956,766 | 3,102,914 | 1,409,401 | 877,672 | 962,227 | 632,826 | 394,097 | 0 |
| total shareholders funds | 2,125,731 | 2,877,352 | 3,233,317 | 3,956,766 | 3,102,914 | 1,409,401 | 877,672 | 962,227 | 632,826 | 394,097 | 0 |
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||
| Operating Profit | -1,022,403 | -690,689 | -1,112,645 | 657,449 | 442,106 | 191,094 | 40,803 | ||||
| Depreciation | 0 | 54 | 821 | 877 | 2,250 | 5,710 | 9,753 | 9,954 | 6,132 | ||
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Tax | 270,782 | 382,318 | 389,197 | 190,380 | -96,938 | -39,590 | -8,161 | ||||
| Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors | 2,189,418 | 2,839,191 | 541,662 | 447,487 | -3,118,040 | 2,682,018 | 2,064,365 | -838,392 | 813,999 | 111,301 | 0 |
| Creditors | 4,960,741 | 879,652 | -3,992,936 | -2,240,749 | -1,398,957 | 4,437,555 | -592,685 | -242,239 | 4,379,217 | 2,107,656 | 0 |
| Accruals and Deferred Income | 2,168,682 | 2,021,150 | -103,968 | -1,324,785 | -2,317,999 | 5,269,024 | -1,532,645 | 947,043 | 531,283 | 54,319 | 0 |
| Deferred Taxes & Provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow from operations | 4,188,384 | -246,706 | -5,361,193 | -3,164,315 | 1,898,117 | 4,257,959 | 2,089,448 | ||||
| Investing Activities | |||||||||||
| capital expenditure | |||||||||||
| Change in Investments | 0 | 0 | 0 | 0 | 0 | -1,200 | 148 | -28 | 1,080 | 0 | 0 |
| cash flow from investments | |||||||||||
| Financing Activities | |||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 | -163,443 | -2,476,742 | 851,490 | 1,788,695 | 0 |
| Other Short Term Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Hire Purchase and Lease Commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| share issue | |||||||||||
| interest | 0 | 0 | 0 | 0 | 486 | 356 | 0 | ||||
| cash flow from financing | 0 | -47,594 | -1 | 6,023 | -2,492,509 | 938,714 | 2,150,150 | ||||
| cash and cash equivalents | |||||||||||
| cash | 4,188,384 | -294,294 | -5,361,194 | -3,158,674 | 1,096,561 | 7,563,629 | -4,432,894 | -597,880 | 5,189,809 | 4,208,210 | 0 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | 4,188,384 | -294,294 | -5,361,194 | -3,158,674 | 1,096,561 | 7,563,629 | -4,432,894 | -597,880 | 5,189,809 | 4,208,210 | 0 |
P&L
December 2022turnover
5.4m
+183%
operating profit
-1m
+48%
gross margin
1.1%
-104.61%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2022net assets
2.1m
-0.26%
total assets
16.1m
+0.65%
cash
8.4m
+0.99%
net assets
Total assets minus all liabilities
mifinity uk limited company details
company number
NI611169
Type
Private limited with Share Capital
industry
66190 - Other activities auxiliary to financial services, except insurance and pension funding
incorporation date
February 2012
age
12
accounts
Total Exemption Full
ultimate parent company
previous names
nxsystems ltd (May 2016)
incorporated
UK
address
28 school road, newtownbreda, belfast, BT8 6BT
last accounts submitted
December 2022
mifinity uk 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 mifinity uk limited.
mifinity uk limited Companies House Filings - See Documents
| date | description | view/download |
|---|
