morrison facilities services limited

morrison facilities services limited Company Information

Share MORRISON FACILITIES SERVICES LIMITED
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Company Number

SC120550

Industry

Plumbing, heat and air-conditioning installation

 

Electrical installation

 
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Directors

Andrew Smith

David Miles

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Shareholders

mears group plc

Group Structure

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Contact

Registered Address

phoenix house, 1 souterhouse road, glasgow, ML5 4AA

morrison facilities services limited Estimated Valuation

£17.7m

Pomanda estimates the enterprise value of MORRISON FACILITIES SERVICES LIMITED at £17.7m based on a Turnover of £24.6m and 0.72x industry multiple (adjusted for size and gross margin).

morrison facilities services limited Estimated Valuation

£10.1m

Pomanda estimates the enterprise value of MORRISON FACILITIES SERVICES LIMITED at £10.1m based on an EBITDA of £1.6m and a 6.43x industry multiple (adjusted for size and gross margin).

morrison facilities services limited Estimated Valuation

£44.2m

Pomanda estimates the enterprise value of MORRISON FACILITIES SERVICES LIMITED at £44.2m based on Net Assets of £15.9m and 2.78x industry multiple (adjusted for liquidity).

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Morrison Facilities Services Limited Overview

Morrison Facilities Services Limited is a live company located in glasgow, ML5 4AA with a Companies House number of SC120550. It operates in the electrical installation sector, SIC Code 43210. Founded in October 1989, it's largest shareholder is mears group plc with a 100% stake. Morrison Facilities Services Limited is a mature, large sized company, Pomanda has estimated its turnover at £24.6m with declining growth in recent years.

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Morrison Facilities Services Limited Health Check

Pomanda's financial health check has awarded Morrison Facilities Services Limited a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 4 areas for improvement. Company Health Check FAQs

Health Check Image
Health Rating4.5out of 5
positive_score

6 Strong

positive_score

2 Regular

positive_score

4 Weak

size

Size

annual sales of £24.6m, make it larger than the average company (£1.8m)

£24.6m - Morrison Facilities Services Limited

£1.8m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of -15%, show it is growing at a slower rate (9.2%)

-15% - Morrison Facilities Services Limited

9.2% - Industry AVG

production

Production

with a gross margin of 23.4%, this company has a comparable cost of product (27.7%)

23.4% - Morrison Facilities Services Limited

27.7% - Industry AVG

profitability

Profitability

an operating margin of 6% make it as profitable than the average company (6.4%)

6% - Morrison Facilities Services Limited

6.4% - Industry AVG

employees

Employees

with 234 employees, this is above the industry average (13)

234 - Morrison Facilities Services Limited

13 - Industry AVG

paystructure

Pay Structure

on an average salary of £26.3k, the company has a lower pay structure (£37.7k)

£26.3k - Morrison Facilities Services Limited

£37.7k - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £105k, this is less efficient (£148.4k)

£105k - Morrison Facilities Services Limited

£148.4k - Industry AVG

debtordays

Debtor Days

it gets paid by customers after 36 days, this is earlier than average (49 days)

36 days - Morrison Facilities Services Limited

49 days - Industry AVG

creditordays

Creditor Days

its suppliers are paid after 13 days, this is quicker than average (41 days)

13 days - Morrison Facilities Services Limited

41 days - Industry AVG

stockdays

Stock Days

it holds stock equivalent to 2 days, this is less than average (13 days)

2 days - Morrison Facilities Services Limited

13 days - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 0 weeks, this is less cash available to meet short term requirements (24 weeks)

0 weeks - Morrison Facilities Services Limited

24 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 41.5%, this is a lower level of debt than the average (58.3%)

41.5% - Morrison Facilities Services Limited

58.3% - Industry AVG

MORRISON FACILITIES SERVICES LIMITED financials

EXPORTms excel logo

Morrison Facilities Services Limited's latest turnover from December 2023 is £24.6 million and the company has net assets of £15.9 million. According to their latest financial statements, Morrison Facilities Services Limited has 234 employees and maintains cash reserves of £45 thousand as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Mar 2012Mar 2011Mar 2010
Turnover24,581,00022,377,00027,177,00040,387,00058,908,00062,709,00069,422,00072,453,00085,767,00093,422,000169,915,000142,085,000214,690,000274,595,000237,979,000
Other Income Or Grants000000000000000
Cost Of Sales18,824,00017,127,00021,297,00033,160,00043,022,00045,843,00047,718,00050,247,00057,905,00056,312,000140,064,000145,752,000214,095,000250,179,000216,624,000
Gross Profit5,757,0005,250,0005,880,0007,227,00015,886,00016,866,00021,704,00022,206,00027,862,00037,110,00029,851,000-3,667,000595,00024,416,00021,355,000
Admin Expenses4,291,0004,674,0001,904,0007,253,00011,405,00013,979,00017,086,00019,545,00020,746,00028,631,00038,594,00030,535,00015,658,0009,778,0009,213,000
Operating Profit1,466,000576,0003,976,000-26,0004,481,0002,887,0004,618,0002,661,0007,116,0008,479,000-8,743,000-34,202,000-15,063,00014,638,00012,142,000
Interest Payable20,00039,00067,000335,000404,000457,000537,000538,000715,00010,744,000390,00095,00056,0009,0006,104,000
Interest Receivable1,148,000731,000116,000255,000533,000836,000386,0001,006,000807,00011,003,00071,0001,575,000470,000728,0005,535,000
Pre-Tax Profit2,594,0001,268,0004,025,000-106,0004,610,0003,266,0004,467,0003,129,0007,208,0007,775,000-8,936,000-30,722,000-10,327,00019,571,00011,950,000
Tax-583,000-364,000-1,127,000-140,000-859,000-667,000-1,093,000-593,000-2,743,000-116,000-4,100,00010,283,0003,714,000-4,542,000-3,540,000
Profit After Tax2,011,000904,0002,898,000-246,0003,751,0002,599,0003,374,0002,536,0004,465,0007,659,000-13,036,000-20,439,000-6,613,00015,029,0008,410,000
Dividends Paid00006,000,000000000007,500,0006,050,000
Retained Profit2,011,000904,0002,898,000-246,000-2,249,0002,599,0003,374,0002,536,0004,465,0007,659,000-13,036,000-20,439,000-6,613,0006,611,0001,348,000
Employee Costs6,155,0006,576,0007,960,00011,252,00015,573,00019,838,00022,396,00023,338,00025,207,00026,246,00044,962,00055,816,00088,933,000102,760,00088,173,000
Number Of Employees2342413584805326697357858188651,5012,0872,4912,8942,469
EBITDA*1,575,000815,0004,183,000343,0004,704,0003,139,0004,905,0002,784,0007,498,0008,967,000-7,516,000-32,700,000-12,971,00016,603,00014,026,000

* Earnings Before Interest, Tax, Depreciation and Amortisation

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Mar 2012Mar 2011Mar 2010
Tangible Assets143,000180,000687,000905,0001,178,000414,000508,000483,0001,179,0001,452,0001,802,0002,875,0003,650,0002,996,0002,859,000
Intangible Assets228,000293,0002,000109,000218,000309,000412,000550,000000000107,000
Investments & Other19,674,00023,369,00035,732,00021,794,00011,443,00016,259,00026,446,00015,052,0007,705,00013,510,0001,0001,0001,0004,969,000866,000
Debtors (Due After 1 year)3,467,0000150,000621,0001,404,0005,185,00014,904,0007,384,0005,794,0002,638,000011,287,000000
Total Fixed Assets23,512,00023,842,00036,571,00023,429,00014,243,00022,167,00042,270,00023,469,00014,678,00017,600,0001,803,00014,163,0003,651,0007,965,0003,832,000
Stock & work in progress115,000136,000124,000455,000923,0001,248,0001,902,0001,204,000895,000721,0001,896,000671,000914,0001,257,000894,000
Trade Debtors2,489,0003,212,0003,673,0005,826,0007,010,0002,701,0002,865,0009,698,00011,062,00013,143,00020,735,00023,841,00040,074,00043,543,00030,037,000
Group Debtors225,000788,000179,0001,156,000246,00000000010,844,00011,691,00012,0002,738,000
Misc Debtors758,00029,000355,00028,0001,475,0006,443,0007,469,00087,000178,0001,391,00001,338,0002,615,0002,312,0003,736,000
Cash45,0001,609,0001,558,0002,136,000711,000433,0001,207,0002,099,0004,872,0002,141,00017,288,0007,284,0005,051,00023,222,00020,234,000
misc current assets000000000000000
total current assets3,632,0005,774,0005,889,0009,601,00010,365,00010,825,00013,443,00013,088,00017,007,00017,396,00039,919,00043,978,00060,345,00070,346,00057,639,000
total assets27,144,00029,616,00042,460,00033,030,00024,608,00032,992,00055,713,00036,557,00031,685,00034,996,00041,722,00058,141,00063,996,00078,311,00061,471,000
Bank overdraft000000000000000
Bank loan000000000000000
Trade Creditors 718,0001,500,0001,408,0002,527,0008,683,00010,144,0009,147,00010,674,0009,884,00011,035,00035,402,00018,005,00015,934,0007,511,0004,586,000
Group/Directors Accounts302,000528,000513,0003,380,00010,00000000010,003,0003,989,000306,0000
other short term finances000000000000000
hp & lease commitments70,00056,00067,000139,000209,0000000000000
other current liabilities4,908,0003,362,0003,314,0005,028,0005,355,0005,415,0006,374,0007,199,0008,534,0009,769,000032,781,00029,544,00042,904,00034,994,000
total current liabilities5,998,0005,446,0005,302,00011,074,00014,257,00015,559,00015,521,00017,873,00018,418,00020,804,00035,402,00060,789,00049,467,00050,721,00039,580,000
loans600,000522,0001,689,000266,0008,721,0008,958,00023,050,00016,779,00022,456,00021,571,00000000
hp & lease commitments177,000246,000313,000390,000512,0000000000000
Accruals and Deferred Income000000000000000
other liabilities000000000011,358,000046,00048,000125,000
provisions4,481,0005,305,0008,137,000894,0001,354,0003,089,0005,025,0002,859,00001,361,00015,584,0004,661,000372,00068,0002,891,000
total long term liabilities5,258,0006,073,00010,378,00018,638,00014,901,00012,047,00028,075,00019,638,00022,456,00022,932,00028,044,0005,907,0001,984,000116,0005,054,000
total liabilities11,256,00011,519,00015,680,00029,712,00029,158,00027,606,00043,596,00037,511,00040,874,00043,736,00063,446,00066,696,00051,451,00050,837,00044,634,000
net assets15,888,00018,097,00026,780,0003,318,000-4,550,0005,386,00012,117,000-954,000-9,189,000-8,740,000-21,724,000-8,555,00012,545,00027,379,00016,837,000
total shareholders funds15,888,00018,097,00026,780,0003,318,000-4,550,0005,386,00012,117,000-954,000-9,189,000-8,740,000-21,724,000-8,555,00012,545,00027,379,00016,837,000
Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Mar 2012Mar 2011Mar 2010
Operating Activities
Operating Profit1,466,000576,0003,976,000-26,0004,481,0002,887,0004,618,0002,661,0007,116,0008,479,000-8,743,000-34,202,000-15,063,00014,638,00012,142,000
Depreciation45,000173,000184,000314,000146,000149,000149,000123,000382,000488,0001,227,0001,502,0002,092,0001,858,0001,775,000
Amortisation64,00066,00023,00055,00077,000103,000138,000000000107,000109,000
Tax-583,000-364,000-1,127,000-140,000-859,000-667,000-1,093,000-593,000-2,743,000-116,000-4,100,00010,283,0003,714,000-4,542,000-3,540,000
Stock-21,00012,000-331,000-468,000-325,000-654,000698,000309,000174,000-1,175,0001,225,000-586,000-343,000363,000894,000
Debtors2,910,000-328,000-3,274,000-2,504,000-4,194,000-10,909,0008,069,000135,000-138,000-3,563,000-26,575,0001,443,0008,513,0009,356,00036,511,000
Creditors-782,00092,000-1,119,000-6,156,000-1,461,000997,000-1,527,000790,000-1,151,000-24,367,00017,397,00010,494,0008,423,0002,925,0004,586,000
Accruals and Deferred Income1,546,00048,000-1,714,000-327,000-60,000-959,000-825,000-1,335,000-1,235,0009,769,000-32,781,000-10,123,000-13,360,0007,910,00034,994,000
Deferred Taxes & Provisions-824,000-2,832,0007,243,000-460,000-1,735,000-1,936,0002,166,0002,859,000-1,361,000-14,223,00010,923,0004,593,000304,000-2,823,0002,891,000
Cash flow from operations-1,957,000-1,925,00011,071,000-3,768,0005,108,00012,137,000-5,141,0004,061,000972,000-15,232,0009,273,000-18,310,000-22,060,00010,354,00015,552,000
Investing Activities
capital expenditure-7,000-23,000118,00013,000-896,000-55,000-174,00023,000-109,000-138,000-154,000-1,381,000-3,022,000-1,995,000-1,731,000
Change in Investments-3,695,000-12,363,00013,938,00010,351,000-4,816,000-10,187,00011,394,0007,347,000-5,805,00013,509,0000-4,968,000-4,968,0004,103,000866,000
cash flow from investments3,688,00012,340,000-13,820,000-10,338,0003,920,00010,132,000-11,568,000-7,324,0005,696,000-13,647,000-154,0003,587,0001,946,000-6,098,000-2,597,000
Financing Activities
Bank loans000000000000000
Group/Directors Accounts-226,00015,000-2,867,0003,370,00010,00000000-10,003,0009,697,0003,683,000306,0000
Other Short Term Loans 000000000000000
Long term loans78,000-1,167,0001,423,000-8,455,000-237,000-14,092,0006,271,000-5,677,000885,00021,571,00000000
Hire Purchase and Lease Commitments-55,000-78,000-149,000-192,000721,0000000000000
other long term liabilities000000000-11,358,00011,358,000-48,000-2,000-77,000125,000
share issue-4,220,000-9,587,00020,564,0008,114,000-7,687,000-9,330,0009,697,0005,699,000-4,914,0005,325,000-133,000-15,495,000-8,221,0003,931,00015,489,000
interest1,128,000692,00049,000-80,000129,000379,000-151,000468,00092,000259,000-319,0001,480,000414,000719,000-569,000
cash flow from financing-3,295,000-10,125,00019,020,0002,757,000-7,064,000-23,043,00015,817,000490,000-3,937,00015,797,000903,000-4,366,000-4,126,0004,879,00015,045,000
cash and cash equivalents
cash-1,564,00051,000-578,0001,425,000278,000-774,000-892,000-2,773,0002,731,000-15,147,00010,004,000-15,938,000-18,171,0002,988,00020,234,000
overdraft000000000000000
change in cash-1,564,00051,000-578,0001,425,000278,000-774,000-892,000-2,773,0002,731,000-15,147,00010,004,000-15,938,000-18,171,0002,988,00020,234,000

morrison facilities services limited Credit Report and Business Information

Very Low Risk70 - 100
Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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Morrison Facilities Services Limited Competitor Analysis

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Perform a competitor analysis for morrison facilities services limited by selecting its closest rivals, whether from the CONSTRUCTION sector, other large companies, companies in ML5 area or any other competitors across 12 key performance metrics.

morrison facilities services limited Ownership

MORRISON FACILITIES SERVICES LIMITED group structure

Morrison Facilities Services Limited has 2 subsidiary companies.

Ultimate parent company

1 parent

MORRISON FACILITIES SERVICES LIMITED

SC120550

2 subsidiaries

MORRISON FACILITIES SERVICES LIMITED Shareholders

mears group plc 100%

morrison facilities services limited directors

Morrison Facilities Services Limited currently has 3 directors. The longest serving directors include Mr Andrew Smith (Nov 2012) and Mr David Miles (Nov 2012).

officercountryagestartendrole
Mr Andrew SmithUnited Kingdom52 years Nov 2012- Director
Mr David Miles58 years Nov 2012- Director
Mr Ben WestranUnited Kingdom48 years Oct 2016- Director

P&L

December 2023

turnover

24.6m

+10%

operating profit

1.5m

+155%

gross margin

23.5%

-0.18%

turnover

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

Balance Sheet

December 2023

net assets

15.9m

-0.12%

total assets

27.1m

-0.08%

cash

45k

-0.97%

net assets

Total assets minus all liabilities

morrison facilities services limited company details

company number

SC120550

Type

Private limited with Share Capital

industry

43220 - Plumbing, heat and air-conditioning installation

43210 - Electrical installation

43310 - Plastering

incorporation date

October 1989

age

36

incorporated

UK

ultimate parent company

accounts

Audit Exemption Subsidiary

last accounts submitted

December 2023

previous names

awg facilities services limited (October 2004)

morrison government services limited (November 2002)

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accountant

-

auditor

-

address

phoenix house, 1 souterhouse road, glasgow, ML5 4AA

Bank

BARCLAYS BANK PLC, BARCLAYS BANK PLC, BARCLAYS BANK PLC

Legal Advisor

TRAVERS SNITH

morrison facilities services 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 found 4 charges/mortgages relating to morrison facilities services limited. Currently there are 0 open charges and 4 have been satisfied in the past.

morrison facilities services limited Capital Raised & Share Issues BETA

When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.

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morrison facilities services limited Companies House Filings - See Documents

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