Mccully Furnishings Ltd

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mccully furnishings ltd Company Information

Live

EstablishedSmallHealthy

Company Number

NI611223

Website

www.mccully-furnishings-bangor.co.uk

Registered Address

18e loughdoo road, ardkeen, newtownards, co down, BT22 1HN

Industry

Retail sale of furniture, lighting equipment and other household articles (other than musical instruments) n.e.c., in specialised stores

Telephone

02891270100

Next Accounts Due

December 2024

Group Structure

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Directors

Jonathan McCully12 Years

Stephen McCully12 Years

Shareholders

stephen mccully 50%

jonathan mccully 50%

mccully furnishings ltd Estimated Valuation

£437.2k

Pomanda estimates the enterprise value of MCCULLY FURNISHINGS LTD at £437.2k based on an EBITDA of £137.8k and a 3.17x industry multiple (adjusted for size and gross margin).

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Mccully Furnishings Ltd is a live company located in newtownards, BT22 1HN with a Companies House number of NI611223. It operates in the retail of furniture, lighting, and similar (not musical instruments or scores) in specialised store sector, SIC Code 47599. Founded in February 2012, it's largest shareholder is stephen mccully with a 50% stake. Mccully Furnishings Ltd is a established, small sized company, Pomanda has estimated its turnover at £1.6m with healthy growth in recent years.

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Pomanda's financial health check has awarded Mccully Furnishings Ltd a 2.5 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 6 areas for improvement. Company Health Check FAQs

Health Rating2.5out of 5

1 Strong

5 Regular

6 Weak

Size

annual sales of £1.6m, make it in line with the average company (£1.7m)

Growth

3 year (CAGR) sales growth of 7%, show it is growing at a similar rate (6.6%)

EXPORT

Mccully Furnishings Ltd's latest turnover from March 2023 is £1.6 million and the company has net assets of £94.8 thousand. According to their latest financial statements, Mccully Furnishings Ltd has 12 employees and maintains cash reserves of £40.3 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013
Turnover	1,567,365	1,610,203	772,077	1,280,471	4,975,240	873,672	673,571	529,785	294,489	143,293	86,331
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,071,732	1,082,757	452,023	852,923	2,864,043	499,758	385,507	312,075	171,756	83,331	51,800
Gross Profit	495,633	527,446	320,054	427,548	2,111,197	373,913	288,064	217,710	122,734	59,963	34,532
Admin Expenses	384,588	315,584	311,530	390,555	2,133,813	370,679	234,652	156,188	94,487	60,786	33,110
Operating Profit	111,045	211,862	8,524	36,993	-22,616	3,234	53,412	61,522	28,247	-823	1,422
Interest Payable	11,306	13,306	31,707	10,280	3,825	3,683	0	0	0	0	0
Interest Receivable	27	8,500	10	2	0	92	70	160	135	23	0
Pre-Tax Profit	99,766	207,056	-23,173	26,715	-26,441	-357	53,483	61,683	28,382	-800	1,422
Tax	-20,125	-41,161	0	-7,352	0	0	-10,696	-12,336	-5,960	0	-341
Profit After Tax	79,641	165,895	-23,173	19,363	-26,441	-357	42,786	49,346	22,422	-800	1,081
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	79,641	165,895	-23,173	19,363	-26,441	-357	42,786	49,346	22,422	-800	1,081
Employee Costs	384,485	355,430	287,421	305,352	985,246	312,426	233,300	109,832	76,570	47,597	23,292
Number Of Employees	12	12	10	12	40	12	9	4	3	2	1
EBITDA*	137,751	241,472	8,524	67,195	-22,616	17,173	53,412	65,761	28,247	-614	1,422

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013
Tangible Assets	465,696	485,034	474,250	493,411	499,696	147,070	29,334	31,075	22,209	1,465	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	0	0	0	0	0	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	32,790	0	0	0	0	0	0	0	0
Total Fixed Assets	465,696	485,034	507,040	493,411	499,696	147,070	29,334	31,075	22,209	1,465	0
Stock & work in progress	165,000	180,000	195,000	245,000	0	195,000	185,000	209,456	89,834	21,700	5,000
Trade Debtors	70,000	60,000	0	45,000	314,225	30,239	3,000	3,600	2,102	3,611	4,228
Group Debtors	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	5,753	674	0	0	0	0	0	0	0	0	0
Cash	40,340	98,896	20,447	8	0	33	36,767	19,289	44,744	9,187	0
misc current assets	0	0	0	0	0	0	0	0	0	0	0
total current assets	281,093	339,570	215,447	290,008	314,225	225,272	224,767	232,345	136,680	34,498	9,228
total assets	746,789	824,604	722,487	783,419	813,921	372,342	254,101	263,420	158,889	35,963	9,228
Bank overdraft	48,598	36,739	36,881	37,426	0	18,328	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	65,000	90,000	65,000	90,000	169,968	60,000	87,634	146,073	116,449	35,674	8,139
Group/Directors Accounts	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
hp & lease commitments	2,528	1,799	777	4,668	0	3,938	0	0	0	0	0
other current liabilities	106,566	104,835	77,512	99,874	0	38,037	0	0	0	0	0
total current liabilities	222,692	233,373	180,170	231,968	169,968	120,303	87,634	146,073	116,449	35,674	8,139
loans	396,345	456,802	491,509	473,772	0	95,000	0	0	0	0	0
hp & lease commitments	0	3,597	9,466	10,670	0	7,175	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0
other liabilities	31,844	31,844	31,844	31,844	0	31,843	46,264	39,019	15,281	0	0
provisions	1,145	3,866	271	2,765	0	3,535	5,360	6,271	4,448	0	0
total long term liabilities	429,334	496,109	533,090	519,051	555,916	137,553	51,624	45,290	19,729	0	0
total liabilities	652,026	729,482	713,260	751,019	725,884	257,856	139,258	191,363	136,178	35,674	8,139
net assets	94,763	95,122	9,227	32,400	88,037	114,486	114,843	72,057	22,711	289	1,089
total shareholders funds	94,763	95,122	9,227	32,400	88,037	114,486	114,843	72,057	22,711	289	1,089

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013
Operating Activities
Operating Profit	111,045	211,862	8,524	36,993	-22,616	3,234	53,412	61,522	28,247	-823	1,422
Depreciation	26,706	29,610	0	30,202	0	13,939	0	4,239	0	209	0
Amortisation	0	0	0	0	0	0	0	0	0	0	0
Tax	-20,125	-41,161	0	-7,352	0	0	-10,696	-12,336	-5,960	0	-341
Stock	-15,000	-15,000	-50,000	245,000	-195,000	10,000	-24,456	119,622	68,134	16,700	5,000
Debtors	15,079	27,884	-12,210	-269,225	283,986	27,239	-600	1,498	-1,509	-617	4,228
Creditors	-25,000	25,000	-25,000	-79,968	109,968	-27,634	-58,439	29,624	80,775	27,535	8,139
Accruals and Deferred Income	1,731	27,323	-22,362	99,874	-38,037	38,037	0	0	0	0	0
Deferred Taxes & Provisions	-2,721	3,595	-2,494	2,765	-3,535	-1,825	-911	1,823	4,448	0	0
Cash flow from operations	91,557	243,345	20,878	106,739	-43,206	-11,488	8,422	-36,248	40,885	10,838	-8
Investing Activities
capital expenditure	-7,368	-40,394	19,161	-23,917	-352,626	-131,675	1,741	-13,105	-20,744	-1,674	0
Change in Investments	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-7,368	-40,394	19,161	-23,917	-352,626	-131,675	1,741	-13,105	-20,744	-1,674	0
Financing Activities
Bank loans	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
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0
Long term loans	-60,457	-34,707	17,737	473,772	-95,000	95,000	0	0	0	0	0
Hire Purchase and Lease Commitments	-2,868	-4,847	-5,095	15,338	-11,113	11,113	0	0	0	0	0
other long term liabilities	0	0	0	31,844	-31,843	-14,421	7,245	23,738	15,281	0	0
share issue	-80,000	-80,000	0	-75,000	-8	0	0	0	0	0	8
interest	-11,279	-4,806	-31,697	-10,278	-3,825	-3,591	70	160	135	23	0
cash flow from financing	-154,604	-124,360	-19,055	435,676	-141,789	88,101	7,315	23,898	15,416	23	8
cash and cash equivalents
cash	-58,556	78,449	20,439	8	-33	-36,734	17,478	-25,455	35,557	9,187	0
overdraft	11,859	-142	-545	37,426	-18,328	18,328	0	0	0	0	0
change in cash	-70,415	78,591	20,984	-37,418	18,295	-55,062	17,478	-25,455	35,557	9,187	0

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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MCCULLY FURNISHINGS LTD group structure

Mccully Furnishings Ltd has no subsidiary companies.

Ultimate parent company

MCCULLY FURNISHINGS LTD

NI611223

MCCULLY FURNISHINGS LTD Shareholders

stephen mccully	50%
jonathan mccully	50%

Mccully Furnishings Ltd currently has 2 directors. The longest serving directors include Mr Jonathan McCully (Feb 2012) and Mr Stephen McCully (Feb 2012).

officer	country	age	start	end	role
Mr Jonathan McCully	Northern Ireland	42 years	Feb 2012	-	Director
Mr Stephen McCully	Northern Ireland	51 years	Feb 2012	-	Director

P&L

March 2023

turnover

1.6m

-3%

operating profit

111k

-48%

gross margin

31.7%

-3.46%

turnover

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

Balance Sheet

March 2023

net assets

94.8k

total assets

746.8k

-0.09%

cash

40.3k

-0.59%

net assets

Total assets minus all liabilities

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company number

NI611223

Type

Private limited with Share Capital

industry

47599 - Retail sale of furniture, lighting equipment and other household articles (other than musical instruments) n.e.c., in specialised stores

incorporation date

February 2012

age

accounts

Total Exemption Full

ultimate parent company

None

previous names

N/A

incorporated

address

18e loughdoo road, ardkeen, newtownards, co down, BT22 1HN

last accounts submitted

March 2023

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 3 charges/mortgages relating to mccully furnishings ltd. Currently there are 1 open charges and 2 have been satisfied in the past.

mccully furnishings ltd Company Information

mccully furnishings ltd Estimated Valuation

mccully furnishings ltd Estimated Valuation

mccully furnishings ltd Estimated Valuation

Mccully Furnishings Ltd Overview

Mccully Furnishings Ltd Health Check

MCCULLY FURNISHINGS LTD financials

mccully furnishings ltd Credit Report and Business Information

Mccully Furnishings Ltd Competitor Analysis

mccully furnishings ltd Ownership

mccully furnishings ltd directors

mccully furnishings ltd company details

mccully furnishings ltd Charges & Mortgages

mccully furnishings ltd Companies House Filings - See Documents