foods connected ltd
foods connected ltd Company Information
Company Number
NI614697
Registered Address
city factory, 100, patrick street, londonderry, BT48 7EL
Industry
Business and domestic software development
Telephone
-
Next Accounts Due
September 2025
Group Structure
View All
Shareholders
hilton foods limited 65%
roger mccracken 32.5%
View Allfoods connected ltd Estimated Valuation
Pomanda estimates the enterprise value of FOODS CONNECTED LTD at £3.8m based on a Turnover of £4.3m and 0.88x industry multiple (adjusted for size and gross margin).
foods connected ltd Estimated Valuation
Pomanda estimates the enterprise value of FOODS CONNECTED LTD at £1.2m based on an EBITDA of £205k and a 5.81x industry multiple (adjusted for size and gross margin).
foods connected ltd Estimated Valuation
Pomanda estimates the enterprise value of FOODS CONNECTED LTD at £5.4m based on Net Assets of £2.3m and 2.37x industry multiple (adjusted for liquidity).
Edit your figures and get a professional valuation report.
Foods Connected Ltd Overview
Foods Connected Ltd is a live company located in londonderry, BT48 7EL with a Companies House number of NI614697. It operates in the business and domestic software development sector, SIC Code 62012. Founded in September 2012, it's largest shareholder is hilton foods limited with a 65% stake. Foods Connected Ltd is a established, small sized company, Pomanda has estimated its turnover at £4.3m with declining growth in recent years.
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Foods Connected Ltd Health Check
Pomanda's financial health check has awarded Foods Connected Ltd a 2 rating. We use a traffic light system to show it exceeds the industry average on 2 measures and has 5 areas for improvement. Company Health Check FAQs
2 Strong
4 Regular
5 Weak
Size
annual sales of £4.3m, make it in line with the average company (£4.5m)
£4.3m - Foods Connected Ltd
£4.5m - Industry AVG
Growth
3 year (CAGR) sales growth of -19%, show it is growing at a slower rate (9.9%)
- Foods Connected Ltd
9.9% - Industry AVG
Production
with a gross margin of 75.4%, this company has a comparable cost of product (72.5%)
75.4% - Foods Connected Ltd
72.5% - Industry AVG
Profitability
an operating margin of -0.5% make it less profitable than the average company (3.7%)
-0.5% - Foods Connected Ltd
3.7% - Industry AVG
Employees
with 87 employees, this is above the industry average (40)
87 - Foods Connected Ltd
40 - Industry AVG
Pay Structure
on an average salary of £72.2k, the company has an equivalent pay structure (£72.2k)
- Foods Connected Ltd
£72.2k - Industry AVG
Efficiency
resulting in sales per employee of £49.9k, this is less efficient (£120.9k)
£49.9k - Foods Connected Ltd
£120.9k - Industry AVG
Debtor Days
it gets paid by customers after 62 days, this is near the average (58 days)
62 days - Foods Connected Ltd
58 days - Industry AVG
Creditor Days
its suppliers are paid after 58 days, this is slower than average (39 days)
58 days - Foods Connected Ltd
39 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Foods Connected Ltd
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 7 weeks, this is less cash available to meet short term requirements (18 weeks)
7 weeks - Foods Connected Ltd
18 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 74.3%, this is a higher level of debt than the average (61.4%)
74.3% - Foods Connected Ltd
61.4% - Industry AVG
FOODS CONNECTED LTD financials
Foods Connected Ltd's latest turnover from December 2023 is £4.3 million and the company has net assets of £2.3 million. According to their latest financial statements, Foods Connected Ltd has 87 employees and maintains cash reserves of £293.5 thousand as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Sep 2016 | Sep 2015 | Sep 2014 | Sep 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 4,341,778 | 2,930,575 | 3,766,779 | ||||||||
| Other Income Or Grants | 0 | 0 | |||||||||
| Cost Of Sales | 1,067,703 | 2,325,456 | |||||||||
| Gross Profit | 3,274,075 | 605,119 | |||||||||
| Admin Expenses | 3,295,142 | 1,412,340 | |||||||||
| Operating Profit | -21,067 | -807,221 | |||||||||
| Interest Payable | 179,404 | 12,161 | |||||||||
| Interest Receivable | 0 | 0 | |||||||||
| Pre-Tax Profit | -200,471 | -819,382 | |||||||||
| Tax | 352,631 | 276,863 | |||||||||
| Profit After Tax | 152,160 | -542,519 | |||||||||
| Dividends Paid | 0 | 0 | |||||||||
| Retained Profit | 152,160 | -542,519 | |||||||||
| Employee Costs | |||||||||||
| Number Of Employees | 87 | 73 | 69 | 44 | 31 | 23 | 15 | 8 | |||
| EBITDA* | 204,994 | -661,772 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Sep 2016 | Sep 2015 | Sep 2014 | Sep 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 63,823 | 66,650 | 50,202 | 23,758 | 13,144 | 11,987 | 14,900 | 4,954 | 2,312 | 1,998 | 262 |
| Intangible Assets | 6,436,116 | 3,573,842 | 1,515,145 | 505,662 | 56,712 | 70,185 | 83,660 | 76,004 | 65,991 | 71,476 | 51,407 |
| Investments & Other | 588 | 588 | 580 | 580 | 580 | 580 | 580 | 0 | 0 | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 6,500,527 | 3,641,080 | 1,565,927 | 530,000 | 70,436 | 82,752 | 99,140 | 80,958 | 68,303 | 73,474 | 51,669 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 71,500 | 0 | 0 | 0 |
| Trade Debtors | 743,835 | 776,468 | 1,832,958 | 2,060,979 | 1,608,757 | 502,728 | 515,235 | 0 | 14,738 | 4,281 | 0 |
| Group Debtors | 0 | 0 | 0 | 0 | 0 | 0 | 50,000 | 0 | 0 | 0 | 0 |
| Misc Debtors | 1,328,817 | 713,766 | 625,095 | 319,831 | 53,854 | 183,375 | 63,132 | 14,969 | 0 | 0 | 0 |
| Cash | 293,496 | 212,149 | 275,767 | 466,898 | 380,604 | 118,319 | 93,193 | 134,253 | 79,314 | 9,519 | 1,579 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 2,366,148 | 1,702,383 | 2,733,820 | 2,847,708 | 2,043,215 | 804,422 | 721,560 | 220,722 | 94,052 | 13,800 | 1,579 |
| total assets | 8,866,675 | 5,343,463 | 4,299,747 | 3,377,708 | 2,113,651 | 887,174 | 820,700 | 301,680 | 162,355 | 87,274 | 53,248 |
| Bank overdraft | 0 | 0 | 0 | 15,325 | 21,302 | 15,051 | 15,796 | 1,942 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 170,376 | 166,066 | 34,400 | 27,644 | 22,114 | 46,568 | 3,000 | 0 | 72,557 | 38,588 | 29,568 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other short term finances | 24,551 | 28,004 | 16,101 | 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 | 1,713,911 | 1,342,908 | 1,572,016 | 770,732 | 587,080 | 617,002 | 506,942 | 68,328 | 0 | 0 | 0 |
| total current liabilities | 1,908,838 | 1,536,978 | 1,622,517 | 813,701 | 630,496 | 678,621 | 525,738 | 70,270 | 72,557 | 38,588 | 29,568 |
| loans | 4,670,000 | 1,670,266 | 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 | 17,603 | 16,278 | 4,860 |
| other liabilities | 0 | 0 | 1,617 | 3,706 | 5,929 | 8,153 | 13,157 | 15,380 | 0 | 0 | 0 |
| provisions | 5,124 | 5,666 | 2,541 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 4,675,124 | 1,675,932 | 4,158 | 3,706 | 5,929 | 8,153 | 13,157 | 15,380 | 17,603 | 16,278 | 4,860 |
| total liabilities | 6,583,962 | 3,212,910 | 1,626,675 | 817,407 | 636,425 | 686,774 | 538,895 | 85,650 | 90,160 | 54,866 | 34,428 |
| net assets | 2,282,713 | 2,130,553 | 2,673,072 | 2,560,301 | 1,477,226 | 200,400 | 281,805 | 216,030 | 72,195 | 32,408 | 18,820 |
| total shareholders funds | 2,282,713 | 2,130,553 | 2,673,072 | 2,560,301 | 1,477,226 | 200,400 | 281,805 | 216,030 | 72,195 | 32,408 | 18,820 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Sep 2016 | Sep 2015 | Sep 2014 | Sep 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||
| Operating Profit | -21,067 | -807,221 | |||||||||
| Depreciation | 29,798 | 22,370 | 14,217 | 8,011 | 6,075 | 5,956 | 3,403 | 2,225 | 1,009 | 625 | 88 |
| Amortisation | 196,263 | 123,079 | 97,791 | 25,300 | 13,473 | 13,475 | 16,842 | 11,024 | 8,920 | 8,576 | 5,712 |
| Tax | 352,631 | 276,863 | |||||||||
| Stock | 0 | 0 | 0 | 0 | 0 | 0 | -71,500 | 71,500 | 0 | 0 | 0 |
| Debtors | 582,418 | -967,819 | 77,243 | 718,199 | 976,508 | 57,736 | 613,398 | 231 | 10,457 | 4,281 | 0 |
| Creditors | 4,310 | 131,666 | 6,756 | 5,530 | -24,454 | 43,568 | 3,000 | -72,557 | 33,969 | 9,020 | 29,568 |
| Accruals and Deferred Income | 371,003 | -229,108 | 801,284 | 183,652 | -29,922 | 110,060 | 438,614 | 50,725 | 1,325 | 11,418 | 4,860 |
| Deferred Taxes & Provisions | -542 | 3,125 | 2,541 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow from operations | 349,978 | 488,593 | |||||||||
| Investing Activities | |||||||||||
| capital expenditure | 0 | 0 | |||||||||
| Change in Investments | 0 | 8 | 0 | 0 | 0 | 0 | 580 | 0 | 0 | 0 | 0 |
| cash flow from investments | 0 | -8 | |||||||||
| 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 | -3,453 | 11,903 | 16,101 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | 2,999,734 | 1,670,266 | 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 | -1,617 | -2,089 | -2,223 | -2,224 | -5,004 | -2,223 | 15,380 | 0 | 0 | 0 |
| share issue | |||||||||||
| interest | -179,404 | -12,161 | |||||||||
| cash flow from financing | 2,816,877 | 1,668,391 | |||||||||
| cash and cash equivalents | |||||||||||
| cash | 81,347 | -63,618 | -191,131 | 86,294 | 262,285 | 25,126 | -41,060 | 54,939 | 69,795 | 7,940 | 1,579 |
| overdraft | 0 | 0 | -15,325 | -5,977 | 6,251 | -745 | 13,854 | 1,942 | 0 | 0 | 0 |
| change in cash | 81,347 | -63,618 | -175,806 | 92,271 | 256,034 | 25,871 | -54,914 | 52,997 | 69,795 | 7,940 | 1,579 |
foods connected ltd Credit Report and Business Information
Foods Connected Ltd Competitor Analysis
Perform a competitor analysis for foods connected ltd by selecting its closest rivals, whether from the INFORMATION AND COMMUNICATION sector, other small companies, companies in BT48 area or any other competitors across 12 key performance metrics.
foods connected ltd Ownership
FOODS CONNECTED LTD group structure
Foods Connected Ltd has no subsidiary companies.
Ultimate parent company
FOODS CONNECTED LTD
NI614697
foods connected ltd directors
Foods Connected Ltd currently has 10 directors. The longest serving directors include Mr Roger McCracken (Sep 2012) and Mr Andrew McCracken (May 2017).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Roger McCracken | Northern Ireland | 40 years | Sep 2012 | - | Director |
| Mr Andrew McCracken | Northern Ireland | 38 years | May 2017 | - | Director |
| Mr Pat Tracey | England | 46 years | May 2017 | - | Director |
| Mr Gary Tyre | Northern Ireland | 38 years | May 2017 | - | Director |
| Mr Paul Armstrong | 55 years | Mar 2019 | - | Director | |
| Mr Matthew Osborne | Northern Ireland | 46 years | Jun 2022 | - | Director |
| Mr Matthew Osborne | 46 years | Jun 2022 | - | Director | |
| Mr Matthew Osborne | 46 years | Jun 2022 | - | Director | |
| Mr Peter Graham | Northern Ireland | 51 years | Nov 2022 | - | Director |
| Mr Steve Murrells | 59 years | Jul 2023 | - | Director |
P&L
December 2023turnover
4.3m
+48%
operating profit
-21.1k
-97%
gross margin
75.5%
+265.2%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
2.3m
+0.07%
total assets
8.9m
+0.66%
cash
293.5k
+0.38%
net assets
Total assets minus all liabilities
Similar Companies
foods connected ltd company details
company number
NI614697
Type
Private limited with Share Capital
industry
62012 - Business and domestic software development
incorporation date
September 2012
age
12
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
December 2023
previous names
meat connected ltd (October 2016)
accountant
-
auditor
MOORE (N.I.) LLP
address
city factory, 100, patrick street, londonderry, BT48 7EL
Bank
ULSTER BANK LIMITED
Legal Advisor
-
foods connected ltd 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 foods connected ltd.
foods connected ltd Companies House Filings - See Documents
| date | description | view/download |
|---|
