heart of midlothian plc
heart of midlothian plc Company Information
Company Number
SC005863
Website
www.heartsfc.co.ukRegistered Address
collins house rutland square, edinburgh, midlothian, EH1 2AA
Industry
Activities of sport clubs
Telephone
01312007200
Next Accounts Due
December 2024
Group Structure
View All
Shareholders
bidco (1874) limited 67.7%
foundation of hearts limited 29.4%
View Allheart of midlothian plc Estimated Valuation
Pomanda estimates the enterprise value of HEART OF MIDLOTHIAN PLC at £24.4m based on a Turnover of £20.8m and 1.18x industry multiple (adjusted for size and gross margin).
heart of midlothian plc Estimated Valuation
Pomanda estimates the enterprise value of HEART OF MIDLOTHIAN PLC at £11.1m based on an EBITDA of £2.7m and a 4.06x industry multiple (adjusted for size and gross margin).
heart of midlothian plc Estimated Valuation
Pomanda estimates the enterprise value of HEART OF MIDLOTHIAN PLC at £13.8m based on Net Assets of £24.4m and 0.57x industry multiple (adjusted for liquidity).
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Heart Of Midlothian Plc Overview
Heart Of Midlothian Plc is a live company located in midlothian, EH1 2AA with a Companies House number of SC005863. It operates in the activities of sport clubs sector, SIC Code 93120. Founded in April 1905, it's largest shareholder is bidco (1874) limited with a 67.7% stake. Heart Of Midlothian Plc is a mature, large sized company, Pomanda has estimated its turnover at £20.8m with high growth in recent years.
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Heart Of Midlothian Plc Health Check
Pomanda's financial health check has awarded Heart Of Midlothian Plc a 5 rating. We use a traffic light system to show it exceeds the industry average on 8 measures and has 3 areas for improvement. Company Health Check FAQs
8 Strong
1 Regular
3 Weak
Size
annual sales of £20.8m, make it larger than the average company (£445k)
£20.8m - Heart Of Midlothian Plc
£445k - Industry AVG
Growth
3 year (CAGR) sales growth of 19%, show it is growing at a faster rate (6.8%)
19% - Heart Of Midlothian Plc
6.8% - Industry AVG
Production
with a gross margin of 48.2%, this company has a comparable cost of product (48.2%)
48.2% - Heart Of Midlothian Plc
48.2% - Industry AVG
Profitability
an operating margin of 1.7% make it more profitable than the average company (-4.1%)
1.7% - Heart Of Midlothian Plc
-4.1% - Industry AVG
Employees
with 276 employees, this is above the industry average (26)
276 - Heart Of Midlothian Plc
26 - Industry AVG
Pay Structure
on an average salary of £55.7k, the company has a higher pay structure (£24.5k)
£55.7k - Heart Of Midlothian Plc
£24.5k - Industry AVG
Efficiency
resulting in sales per employee of £75.3k, this is more efficient (£47.5k)
£75.3k - Heart Of Midlothian Plc
£47.5k - Industry AVG
Debtor Days
it gets paid by customers after 11 days, this is earlier than average (15 days)
11 days - Heart Of Midlothian Plc
15 days - Industry AVG
Creditor Days
its suppliers are paid after 84 days, this is slower than average (39 days)
84 days - Heart Of Midlothian Plc
39 days - Industry AVG
Stock Days
it holds stock equivalent to 23 days, this is more than average (12 days)
23 days - Heart Of Midlothian Plc
12 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 26 weeks, this is less cash available to meet short term requirements (54 weeks)
26 weeks - Heart Of Midlothian Plc
54 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 33.5%, this is a lower level of debt than the average (40.8%)
33.5% - Heart Of Midlothian Plc
40.8% - Industry AVG
HEART OF MIDLOTHIAN PLC financials
Heart Of Midlothian Plc's latest turnover from June 2023 is £20.8 million and the company has net assets of £24.4 million. According to their latest financial statements, Heart Of Midlothian Plc has 276 employees and maintains cash reserves of £5.6 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 | Jul 2010 | Jul 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 20,778,000 | 14,644,000 | 7,692,000 | 12,270,000 | 14,868,000 | 12,131,000 | 11,255,000 | 9,967,000 | 6,982,000 | 6,550,000 | 7,342,000 | 8,682,000 | 6,915,000 | 7,908,000 | 8,307,000 |
| Other Income Or Grants | |||||||||||||||
| Cost Of Sales | |||||||||||||||
| Gross Profit | |||||||||||||||
| Admin Expenses | |||||||||||||||
| Operating Profit | 3,124,000 | 896,000 | -4,777,000 | -5,060,000 | -6,855,000 | -6,929,000 | -8,621,000 | ||||||||
| Interest Payable | 242,000 | 113,000 | 143,000 | 56,000 | 193,000 | 257,000 | 155,000 | 172,000 | 172,000 | 1,077,000 | 1,254,000 | 1,460,000 | 1,170,000 | 1,616,000 | 1,827,000 |
| Interest Receivable | 1,000 | 0 | 0 | 0 | 0 | 6,000 | 15,000 | 18,000 | 0 | 3,000 | 0 | 0 | 0 | 0 | 0 |
| Pre-Tax Profit | 298,000 | 1,749,000 | 2,015,000 | 429,000 | 2,931,000 | 1,802,000 | 2,321,000 | 626,000 | -888,000 | 26,795,000 | -4,965,000 | -1,648,000 | 511,000 | 39,000 | -8,634,000 |
| Tax | 0 | 0 | 0 | 44,000 | 2,000 | 3,000 | 0 | -3,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 298,000 | 1,749,000 | 2,015,000 | 473,000 | 2,933,000 | 1,805,000 | 2,321,000 | 623,000 | -888,000 | 26,795,000 | -4,965,000 | -1,648,000 | 511,000 | 39,000 | -8,634,000 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Profit | 298,000 | 1,749,000 | 2,015,000 | 473,000 | 2,933,000 | 1,805,000 | 2,321,000 | 623,000 | -888,000 | 26,795,000 | -4,965,000 | -1,648,000 | 511,000 | 39,000 | -8,634,000 |
| Employee Costs | 15,381,000 | 11,225,000 | 7,502,000 | 8,776,000 | 8,220,000 | 7,023,000 | 5,884,000 | 5,520,000 | 3,798,000 | 2,890,000 | 5,414,000 | 9,404,000 | 8,034,000 | 9,114,000 | 10,477,000 |
| Number Of Employees | 276 | 237 | 176 | 325 | 339 | 275 | 275 | 249 | 208 | 104 | 139 | 166 | 167 | 152 | 154 |
| EBITDA* | 4,332,000 | 1,200,000 | -4,175,000 | -4,430,000 | -6,136,000 | -5,687,000 | -6,470,000 |
* 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 2013 | Jun 2012 | Jun 2011 | Jul 2010 | Jul 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 26,839,000 | 25,790,000 | 26,528,000 | 27,514,000 | 28,377,000 | 26,401,000 | 13,393,000 | 7,382,000 | 6,858,000 | 7,074,000 | 7,378,000 | 15,641,000 | 16,032,000 | 18,315,000 | 18,772,000 |
| Intangible Assets | 1,801,000 | 1,246,000 | 332,000 | 481,000 | 495,000 | 337,000 | 489,000 | 437,000 | 345,000 | 0 | 0 | 62,000 | 242,000 | 370,000 | 1,070,000 |
| Investments & Other | 0 | 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 | 400,000 | 0 | 0 | 0 |
| Total Fixed Assets | 28,640,000 | 27,036,000 | 26,860,000 | 27,995,000 | 28,872,000 | 26,738,000 | 13,882,000 | 7,819,000 | 7,203,000 | 7,074,000 | 7,378,000 | 16,103,000 | 16,274,000 | 18,685,000 | 19,842,000 |
| Stock & work in progress | 701,000 | 405,000 | 609,000 | 579,000 | 643,000 | 484,000 | 440,000 | 248,000 | 32,000 | 0 | 0 | 0 | 14,000 | 109,000 | 353,000 |
| Trade Debtors | 635,000 | 717,000 | 266,000 | 106,000 | 636,000 | 417,000 | 231,000 | 273,000 | 171,000 | 77,000 | 239,000 | 991,000 | 740,000 | 283,000 | 513,000 |
| Group Debtors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Misc Debtors | 1,102,000 | 889,000 | 1,513,000 | 504,000 | 784,000 | 788,000 | 1,276,000 | 2,249,000 | 1,973,000 | 1,413,000 | 658,000 | 332,000 | 295,000 | 389,000 | 679,000 |
| Cash | 5,643,000 | 7,834,000 | 2,591,000 | 2,376,000 | 591,000 | 199,000 | 5,541,000 | 5,036,000 | 3,520,000 | 1,554,000 | 514,000 | 94,000 | 65,000 | 51,000 | 521,000 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 8,081,000 | 9,845,000 | 4,979,000 | 3,565,000 | 2,654,000 | 1,888,000 | 7,488,000 | 7,806,000 | 5,696,000 | 3,044,000 | 1,411,000 | 1,417,000 | 1,114,000 | 832,000 | 2,066,000 |
| total assets | 36,721,000 | 36,881,000 | 31,839,000 | 31,560,000 | 31,526,000 | 28,626,000 | 21,370,000 | 15,625,000 | 12,899,000 | 10,118,000 | 8,789,000 | 17,520,000 | 17,388,000 | 19,517,000 | 21,908,000 |
| Bank overdraft | 1,542,000 | 1,033,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7,000 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,600,000 |
| Trade Creditors | 2,486,000 | 2,203,000 | 1,819,000 | 1,541,000 | 2,868,000 | 3,494,000 | 2,277,000 | 925,000 | 540,000 | 365,000 | 1,078,000 | 954,000 | 1,145,000 | 1,160,000 | 1,161,000 |
| Group/Directors Accounts | 0 | 0 | 4,360,000 | 5,494,000 | 702,000 | 170,000 | 0 | 0 | 0 | 0 | 8,280,000 | 23,055,000 | 22,413,000 | 0 | 14,027,000 |
| other short term finances | 0 | 0 | 171,000 | 0 | 3,270,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,465,000 | 3,098,000 |
| hp & lease commitments | 201,000 | 64,000 | 29,000 | 70,000 | 206,000 | 166,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 7,008,000 | 7,130,000 | 4,300,000 | 5,769,000 | 6,859,000 | 5,923,000 | 5,346,000 | 4,907,000 | 4,704,000 | 3,764,000 | 7,393,000 | 4,261,000 | 6,051,000 | 14,174,000 | 8,591,000 |
| total current liabilities | 11,237,000 | 10,430,000 | 10,679,000 | 12,874,000 | 13,905,000 | 9,753,000 | 7,623,000 | 5,832,000 | 5,244,000 | 4,129,000 | 16,758,000 | 28,270,000 | 29,609,000 | 17,799,000 | 44,477,000 |
| loans | 661,000 | 2,198,000 | 1,134,000 | 0 | 0 | 3,912,000 | 2,258,000 | 2,400,000 | 5,093,000 | 3,622,000 | 15,603,000 | 0 | 0 | 24,284,000 | 0 |
| hp & lease commitments | 411,000 | 139,000 | 61,000 | 90,000 | 144,000 | 227,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,273,000 | 1,309,000 | 0 | 1,381,000 | 1,414,000 | 1,450,000 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 820,000 | 1,335,000 | 321,000 | 0 | 0 |
| provisions | 0 | 0 | 0 | 646,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 1,072,000 | 2,337,000 | 1,195,000 | 736,000 | 144,000 | 4,139,000 | 2,258,000 | 2,400,000 | 5,093,000 | 4,895,000 | 17,732,000 | 1,335,000 | 1,702,000 | 25,698,000 | 1,450,000 |
| total liabilities | 12,309,000 | 12,767,000 | 11,874,000 | 13,610,000 | 14,049,000 | 13,892,000 | 9,881,000 | 8,232,000 | 10,337,000 | 9,024,000 | 34,490,000 | 29,605,000 | 31,311,000 | 43,497,000 | 45,927,000 |
| net assets | 24,412,000 | 24,114,000 | 19,965,000 | 17,950,000 | 17,477,000 | 14,734,000 | 11,489,000 | 7,393,000 | 2,562,000 | 1,094,000 | -25,701,000 | -12,085,000 | -13,923,000 | -23,980,000 | -24,019,000 |
| total shareholders funds | 24,412,000 | 24,114,000 | 19,965,000 | 17,950,000 | 17,477,000 | 14,734,000 | 11,489,000 | 7,393,000 | 2,562,000 | 1,094,000 | -25,701,000 | -12,085,000 | -13,923,000 | -23,980,000 | -24,019,000 |
| 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 | Jul 2010 | Jul 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Operating Profit | 3,124,000 | 896,000 | -4,777,000 | -5,060,000 | -6,855,000 | -6,929,000 | -8,621,000 | ||||||||
| Depreciation | 1,360,000 | 1,224,000 | 1,190,000 | 1,168,000 | 888,000 | 332,000 | 231,000 | 224,000 | 266,000 | 304,000 | 540,000 | 462,000 | 459,000 | 498,000 | 493,000 |
| Amortisation | 1,021,000 | 350,000 | 253,000 | 351,000 | 320,000 | 245,000 | 292,000 | 213,000 | 58,000 | 0 | 62,000 | 168,000 | 260,000 | 744,000 | 1,658,000 |
| Tax | 0 | 0 | 0 | 44,000 | 2,000 | 3,000 | 0 | -3,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock | 296,000 | -204,000 | 30,000 | -64,000 | 159,000 | 44,000 | 192,000 | 216,000 | 32,000 | 0 | 0 | -14,000 | -95,000 | -244,000 | 353,000 |
| Debtors | 131,000 | -173,000 | 1,169,000 | -810,000 | 215,000 | -302,000 | -1,015,000 | 378,000 | 654,000 | 593,000 | -826,000 | 688,000 | 363,000 | -520,000 | 1,192,000 |
| Creditors | 283,000 | 384,000 | 278,000 | -1,327,000 | -626,000 | 1,217,000 | 1,352,000 | 385,000 | 175,000 | -713,000 | 124,000 | -191,000 | -15,000 | -1,000 | 1,161,000 |
| Accruals and Deferred Income | -122,000 | 2,830,000 | -1,469,000 | -1,090,000 | 936,000 | 577,000 | 439,000 | 203,000 | -333,000 | -3,665,000 | 4,441,000 | -3,171,000 | -8,156,000 | 5,547,000 | 10,041,000 |
| Deferred Taxes & Provisions | 0 | 0 | -646,000 | 646,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow from operations | 4,270,000 | -3,771,000 | 1,216,000 | -8,466,000 | -14,575,000 | 623,000 | 3,187,000 | ||||||||
| Investing Activities | |||||||||||||||
| capital expenditure | 0 | 0 | 0 | 0 | 0 | -12,095,000 | -4,906,000 | 387,000 | -195,000 | 234,000 | 1,439,000 | 1,187,000 | -155,000 | 597,000 | 1,343,000 |
| Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | 0 | 0 | 0 | 0 | 0 | -12,095,000 | -4,906,000 | 387,000 | -195,000 | 234,000 | 1,439,000 | 1,187,000 | -155,000 | 597,000 | 1,343,000 |
| Financing Activities | |||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -17,600,000 | 17,600,000 |
| Group/Directors Accounts | 0 | -4,360,000 | -1,134,000 | 4,792,000 | 532,000 | 170,000 | 0 | 0 | 0 | -8,280,000 | -14,775,000 | 642,000 | 22,413,000 | -14,027,000 | 14,027,000 |
| Other Short Term Loans | 0 | -171,000 | 171,000 | -3,270,000 | 3,270,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2,465,000 | -633,000 | 3,098,000 |
| Long term loans | -1,537,000 | 1,064,000 | 1,134,000 | 0 | -3,912,000 | 1,654,000 | -142,000 | -2,693,000 | 1,471,000 | -11,981,000 | 15,603,000 | 0 | -24,284,000 | 24,284,000 | 0 |
| Hire Purchase and Lease Commitments | 409,000 | 113,000 | -70,000 | -190,000 | -43,000 | 393,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -820,000 | -515,000 | 1,014,000 | 321,000 | 0 | 0 |
| share issue | |||||||||||||||
| interest | -241,000 | -113,000 | -143,000 | -56,000 | -193,000 | -251,000 | -140,000 | -154,000 | -172,000 | -1,074,000 | -1,254,000 | -1,460,000 | -1,170,000 | -1,616,000 | -1,827,000 |
| cash flow from financing | -1,369,000 | -1,067,000 | -42,000 | 1,276,000 | -536,000 | 3,406,000 | 1,493,000 | 1,361,000 | 3,655,000 | -22,155,000 | -9,592,000 | 3,682,000 | 4,361,000 | -9,592,000 | 17,513,000 |
| cash and cash equivalents | |||||||||||||||
| cash | -2,191,000 | 5,243,000 | 215,000 | 1,785,000 | 392,000 | -5,342,000 | 505,000 | 1,516,000 | 1,966,000 | 1,040,000 | 420,000 | 29,000 | 14,000 | -470,000 | 521,000 |
| overdraft | 509,000 | 1,033,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -7,000 | 7,000 | 0 | 0 | 0 | 0 |
| change in cash | -2,700,000 | 4,210,000 | 215,000 | 1,785,000 | 392,000 | -5,342,000 | 505,000 | 1,516,000 | 1,966,000 | 1,047,000 | 413,000 | 29,000 | 14,000 | -470,000 | 521,000 |
heart of midlothian plc Credit Report and Business Information
Heart Of Midlothian Plc Competitor Analysis
Perform a competitor analysis for heart of midlothian plc by selecting its closest rivals, whether from the ARTS, ENTERTAINMENT AND RECREATION sector, other large companies, companies in EH1 area or any other competitors across 12 key performance metrics.
heart of midlothian plc Ownership
HEART OF MIDLOTHIAN PLC group structure
Heart Of Midlothian Plc has 1 subsidiary company.
Ultimate parent company
1 parent
HEART OF MIDLOTHIAN PLC
SC005863
1 subsidiary
heart of midlothian plc directors
Heart Of Midlothian Plc currently has 7 directors. The longest serving directors include Mrs Ann Budge (May 2014) and Mr Kevin Windram (Oct 2014).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mrs Ann Budge | 76 years | May 2014 | - | Director | |
| Mr Kevin Windram | United Kingdom | 58 years | Oct 2014 | - | Director |
| Mrs Jacqueline Duncan | 61 years | Jul 2017 | - | Director | |
| Mr Andrew McKinlay | 52 years | Aug 2020 | - | Director | |
| Mr James Anderson | 65 years | Jul 2021 | - | Director | |
| Mr Gerard Mallon | United Kingdom | 54 years | Jun 2022 | - | Director |
| Mr Andrew Brown | 50 years | Dec 2023 | - | Director |
P&L
June 2023turnover
20.8m
+42%
operating profit
359.3k
0%
gross margin
48.3%
-3.13%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
June 2023net assets
24.4m
+0.01%
total assets
36.7m
0%
cash
5.6m
-0.28%
net assets
Total assets minus all liabilities
heart of midlothian plc company details
company number
SC005863
Type
Public limited with Share Capital
industry
93120 - Activities of sport clubs
incorporation date
April 1905
age
119
incorporated
UK
accounts
Full Accounts
ultimate parent company
previous names
heart of midlothian football club p.l.c. (July 1997)
last accounts submitted
June 2023
address
collins house rutland square, edinburgh, midlothian, EH1 2AA
accountant
-
auditor
JOHNSTON CARMICHAEL LLP
heart of midlothian plc 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 found 22 charges/mortgages relating to heart of midlothian plc. Currently there are 4 open charges and 18 have been satisfied in the past.
heart of midlothian plc Companies House Filings - See Documents
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