Highland Fine Cheeses Limited

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highland fine cheeses limited Company Information

Live

MatureSmallLow

Company Number

SC044504

Website

hf-cheeses.com

Registered Address

highland fine cheeses, blarliath farm, tain, ross-shire, IV19 1EB

Industry

Butter and cheese production

Telephone

01862892034

Next Accounts Due

February 2025

Group Structure

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Directors

Ruaraidh Stone30 Years

Robert MacGeachy1 Years

Shareholders

treeman rockafella limited 50%

ruariadh guy vernon munro stone 50%

highland fine cheeses limited Estimated Valuation

£2m

Pomanda estimates the enterprise value of HIGHLAND FINE CHEESES LIMITED at £2m based on Net Assets of £831.2k and 2.46x industry multiple (adjusted for liquidity).

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Highland Fine Cheeses Limited is a live company located in tain, IV19 1EB with a Companies House number of SC044504. It operates in the butter and cheese production sector, SIC Code 10512. Founded in April 1967, it's largest shareholder is treeman rockafella limited with a 50% stake. Highland Fine Cheeses Limited is a mature, small sized company, Pomanda has estimated its turnover at £2.5m with low growth in recent years.

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Pomanda's financial health check has awarded Highland Fine Cheeses Limited a 4 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 6 areas for improvement. Company Health Check FAQs

Health Rating4out of 5

4 Strong

2 Regular

6 Weak

Size

annual sales of £2.5m, make it smaller than the average company (£53.2m)

Growth

3 year (CAGR) sales growth of 4%, show it is growing at a slower rate (10.6%)

EXPORT

Highland Fine Cheeses Limited's latest turnover from May 2023 is estimated at £2.5 million and the company has net assets of £831.2 thousand. According to their latest financial statements, Highland Fine Cheeses Limited has 18 employees and maintains cash reserves of £498.7 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	May 2023	May 2022	May 2021	May 2020	May 2019	May 2018	May 2017	May 2016	May 2015	May 2014	May 2013	May 2012	May 2011	May 2010
Turnover	2,531,229	2,459,205	2,710,752	2,278,921	2,361,683	2,306,382	2,310,452	2,269,422	1,912,409	1,687,340	1,426,629	1,705,732	860,181	904,885
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	2,086,967	2,018,823	2,228,700	1,989,455	2,086,362	2,037,459	1,962,784	1,941,678	1,668,514	1,490,415	1,215,860	1,463,609	309,093	293,415
Gross Profit	444,262	440,382	482,052	289,466	275,321	268,923	347,668	327,744	243,895	196,925	210,769	242,122	551,088	611,470
Admin Expenses	858,869	507,227	541,832	217,683	291,139	360,472	267,458	234,334	181,607	156,464	184,047	302,195	552,560	553,005
Operating Profit	-414,607	-66,845	-59,780	71,783	-15,818	-91,549	80,210	93,410	62,288	40,461	26,722	-60,073	-1,472	58,465
Interest Payable	5,633	4,474	2,001	2,820	6,887	4,097	0	0	0	0	0	2,866	3,118	2,638
Interest Receivable	11,221	136	23	10	4	73	36	0	0	0	0	48	0	0
Pre-Tax Profit	-409,020	-71,183	-61,758	68,973	-22,701	-95,573	80,246	93,410	62,288	40,461	26,722	-62,891	-4,590	55,827
Tax	0	0	0	-13,105	0	0	-15,247	-18,682	-12,457	-8,497	-6,146	0	1,814	-3,461
Profit After Tax	-409,020	-71,183	-61,758	55,868	-22,701	-95,573	64,999	74,728	49,830	31,964	20,576	-62,891	-2,776	52,366
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-409,020	-71,183	-61,758	55,868	-22,701	-95,573	64,999	74,728	49,830	31,964	20,576	-62,891	-2,776	52,366
Employee Costs	677,434	559,711	473,360	550,415	323,232	301,797	271,617	219,447	160,693	159,601	160,305	154,013	80,181	104,936
Number Of Employees	18	16	14	17	10	10	9	8	6	6	6	6	3	4
EBITDA*	-336,435	26,462	29,230	111,362	44,154	1,054	80,210	171,315	121,557	100,277	63,909	-24,193	26,396	94,766

* Earnings Before Interest, Tax, Depreciation and Amortisation

	May 2023	May 2022	May 2021	May 2020	May 2019	May 2018	May 2017	May 2016	May 2015	May 2014	May 2013	May 2012	May 2011	May 2010
Tangible Assets	277,882	317,592	303,348	205,762	226,117	279,389	268,840	305,714	255,803	263,447	201,557	216,598	203,604	105,460
Intangible Assets	1,375	1,251	1,391	1,882	12,914	11,354	11,354	11,354	11,354	11,354	11,354	8,359	8,009	8,009
Investments & Other	0	0	0	0	0	0	150	150	150	150	150	150	150	150
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	279,257	318,843	304,739	207,644	239,031	290,743	280,344	317,218	267,307	274,951	213,061	225,107	211,763	113,619
Stock & work in progress	198,571	162,362	207,664	180,228	188,602	201,397	208,828	190,987	157,930	124,086	98,587	125,539	97,074	93,971
Trade Debtors	170,892	223,197	309,311	150,548	279,669	246,136	297,602	260,468	213,317	177,855	198,280	221,445	131,786	147,427
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	34,697	35,911	22,531	26,731	23,112	23,567	0	0	0	0	0	0	50,966	24,847
Cash	498,701	0	27,148	19,540	698	401	28,944	0	0	0	0	0	19,188	0
misc current assets	7,312	12,976	0	0	0	18,662	0	0	0	0	0	0	0	0
total current assets	910,173	434,446	566,654	377,047	492,231	490,163	535,374	451,455	371,247	301,941	296,867	346,984	299,014	266,245
total assets	1,189,430	753,289	871,393	584,691	731,262	780,906	815,718	768,673	638,554	576,892	509,928	572,091	510,777	379,864
Bank overdraft	10,487	46,080	8,297	13,648	63,353	86,356	0	0	0	0	0	0	7,501	23,812
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	90,445	196,929	242,313	73,017	215,685	185,119	296,301	297,534	242,902	254,368	206,367	253,860	108,424	139,928
Group/Directors Accounts	0	0	0	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	0	0	0
hp & lease commitments	62,714	66,433	65,465	22,448	20,518	36,927	0	0	0	0	0	0	0	5,317
other current liabilities	14,515	38,040	70,376	61,252	78,106	61,817	0	0	0	0	0	0	57,881	56,486
total current liabilities	178,161	347,482	386,451	170,365	377,662	370,219	296,301	297,534	242,902	254,368	206,367	253,860	173,806	225,543
loans	20,130	30,605	42,837	828	14,641	39,717	0	0	0	0	0	0	80,672	0
hp & lease commitments	51,416	90,342	108,187	13,947	21,728	31,038	0	0	0	0	0	0	0	7,532
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	71,250	0	0	0	0	0	83,912	100,633	99,874	76,576	89,577	124,823	0	0
provisions	37,245	44,702	22,577	26,452	0	0	0	0	0	0	0	0	0	0
total long term liabilities	180,041	165,649	173,601	41,227	36,369	70,755	83,912	100,633	99,874	76,576	89,577	124,823	80,672	7,532
total liabilities	358,202	513,131	560,052	211,592	414,031	440,974	380,213	398,167	342,776	330,944	295,944	378,683	254,478	233,075
net assets	831,228	240,158	311,341	373,099	317,231	339,932	435,505	370,506	295,778	245,948	213,984	193,408	256,299	146,789
total shareholders funds	831,228	240,158	311,341	373,099	317,231	339,932	435,505	370,506	295,778	245,948	213,984	193,408	256,299	146,789

	May 2023	May 2022	May 2021	May 2020	May 2019	May 2018	May 2017	May 2016	May 2015	May 2014	May 2013	May 2012	May 2011	May 2010
Operating Activities
Operating Profit	-414,607	-66,845	-59,780	71,783	-15,818	-91,549	80,210	93,410	62,288	40,461	26,722	-60,073	-1,472	58,465
Depreciation	77,946	92,817	88,519	39,579	59,972	92,603	0	77,905	59,269	59,816	37,187	35,880	27,868	36,301
Amortisation	226	490	491	0	0	0	0	0	0	0	0	0	0	0
Tax	0	0	0	-13,105	0	0	-15,247	-18,682	-12,457	-8,497	-6,146	0	1,814	-3,461
Stock	36,209	-45,302	27,436	-8,374	-12,795	-7,431	17,841	33,057	33,844	25,499	-26,952	28,465	3,103	93,971
Debtors	-53,519	-72,734	154,563	-125,502	33,078	-27,899	37,134	47,151	35,462	-20,425	-23,165	38,693	10,478	172,274
Creditors	-106,484	-45,384	169,296	-142,668	30,566	-111,182	-1,233	54,632	-11,466	48,001	-47,493	145,436	-31,504	139,928
Accruals and Deferred Income	-23,525	-32,336	9,124	-16,854	16,289	61,817	0	0	0	0	0	-57,881	1,395	56,486
Deferred Taxes & Provisions	-7,457	22,125	-3,875	26,452	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	-456,591	88,903	21,776	99,063	70,726	-12,981	8,755	127,057	28,328	134,707	60,387	-3,796	-15,480	21,474
Investing Activities
capital expenditure	-38,586	-107,411	-186,105	-8,192	-8,260	-103,152	36,874	-127,816	-51,625	-121,706	-25,141	-49,224	-126,012	-149,770
Change in Investments	0	0	0	0	0	-150	0	0	0	0	0	0	0	150
cash flow from investments	-38,586	-107,411	-186,105	-8,192	-8,260	-103,002	36,874	-127,816	-51,625	-121,706	-25,141	-49,224	-126,012	-149,920
Financing Activities
Bank loans	0	0	0	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	0	0	0
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	-10,475	-12,232	42,009	-13,813	-25,076	39,717	0	0	0	0	0	-80,672	80,672	0
Hire Purchase and Lease Commitments	-42,645	-16,877	137,257	-5,851	-25,719	67,965	0	0	0	0	0	0	-12,849	12,849
other long term liabilities	71,250	0	0	0	0	-83,912	-16,721	759	23,298	-13,001	-35,246	124,823	0	0
share issue	1,000,090	0	0	0	0	0	0	0	0	0	0	0	112,286	94,423
interest	5,588	-4,338	-1,978	-2,810	-6,883	-4,024	36	0	0	0	0	-2,818	-3,118	-2,638
cash flow from financing	1,023,808	-33,447	177,288	-22,474	-57,678	19,746	-16,685	759	23,298	-13,001	-35,246	41,333	176,991	104,634
cash and cash equivalents
cash	498,701	-27,148	7,608	18,842	297	-28,543	28,944	0	0	0	0	-19,188	19,188	0
overdraft	-35,593	37,783	-5,351	-49,705	-23,003	86,356	0	0	0	0	0	-7,501	-16,311	23,812
change in cash	534,294	-64,931	12,959	68,547	23,300	-114,899	28,944	0	0	0	0	-11,687	35,499	-23,812

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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HIGHLAND FINE CHEESES LIMITED group structure

Highland Fine Cheeses Limited has no subsidiary companies.

Ultimate parent company

HIGHLAND FINE CHEESES LIMITED

SC044504

HIGHLAND FINE CHEESES LIMITED Shareholders

treeman rockafella limited	50%
ruariadh guy vernon munro stone	50%

Highland Fine Cheeses Limited currently has 2 directors. The longest serving directors include Ruaraidh Stone (Apr 1994) and Mr Robert MacGeachy (Feb 2023).

officer	country	age	start	end	role
Ruaraidh Stone		60 years	Apr 1994	-	Director
Mr Robert MacGeachy	England	59 years	Feb 2023	-	Director

P&L

May 2023

turnover

2.5m

+3%

operating profit

-414.6k

gross margin

17.6%

-1.99%

turnover

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

Balance Sheet

May 2023

net assets

831.2k

+2.46%

total assets

1.2m

+0.58%

cash

498.7k

net assets

Total assets minus all liabilities

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company number

SC044504

Type

Private limited with Share Capital

industry

10512 - Butter and cheese production

incorporation date

April 1967

age

accounts

Total Exemption Full

ultimate parent company

None

previous names

N/A

incorporated

address

highland fine cheeses, blarliath farm, tain, ross-shire, IV19 1EB

last accounts submitted

May 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 6 charges/mortgages relating to highland fine cheeses limited. Currently there are 2 open charges and 4 have been satisfied in the past.

highland fine cheeses limited Company Information

highland fine cheeses limited Estimated Valuation

highland fine cheeses limited Estimated Valuation

highland fine cheeses limited Estimated Valuation

Highland Fine Cheeses Limited Overview

Highland Fine Cheeses Limited Health Check

HIGHLAND FINE CHEESES LIMITED financials

highland fine cheeses limited Credit Report and Business Information

Highland Fine Cheeses Limited Competitor Analysis

highland fine cheeses limited Ownership

highland fine cheeses limited directors

highland fine cheeses limited company details

highland fine cheeses limited Charges & Mortgages

highland fine cheeses limited Companies House Filings - See Documents