Internet For Business Limited

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internet for business limited Company Information

Company Number

SC159601

Next Accounts

214 days late

Directors

John Michie

Graeme Gordon

Shareholders

john charles alexander michie

graeme gordon

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Group Structure

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Industry

Other information technology and computer service activities

Registered Address

building 54 54 hareness road, aberdeen, AB12 3LE

Website

http://ifb.net

internet for business limited Estimated Valuation

£1.4m

Pomanda estimates the enterprise value of INTERNET FOR BUSINESS LIMITED at £1.4m based on a Turnover of £2.5m and 0.58x industry multiple (adjusted for size and gross margin).

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Internet For Business Limited is a live company located in aberdeen, AB12 3LE with a Companies House number of SC159601. It operates in the other information technology service activities sector, SIC Code 62090. Founded in August 1995, it's largest shareholder is john charles alexander michie with a 68.2% stake. Internet For Business Limited is a mature, small sized company, Pomanda has estimated its turnover at £2.5m with declining growth in recent years.

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Pomanda's financial health check has awarded Internet For Business Limited a 2 rating. We use a traffic light system to show it exceeds the industry average on 2 measures and has 8 areas for improvement. Company Health Check FAQs

Health Rating2out of 5

2 Strong

2 Regular

8 Weak

Size

annual sales of £2.5m, make it smaller than the average company (£6.5m)

Growth

3 year (CAGR) sales growth of -6%, show it is growing at a slower rate (5.5%)

EXPORT

Internet For Business Limited's latest turnover from September 2022 is estimated at £2.5 million and the company has net assets of -£1.4 million. According to their latest financial statements, Internet For Business Limited has 15 employees and maintains cash reserves of £1.8 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Sep 2022	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Sep 2017	Sep 2016	Sep 2015	Sep 2014	Sep 2013	Sep 2012	Sep 2011	Sep 2010	Sep 2009
Turnover	2,480,620	2,341,096	2,812,154	3,028,243	3,578,976	3,550,635	2,940,449	3,982,818	2,528,972	3,005,550	3,472,016	2,522,798	2,668,919	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,824,835	1,769,119	2,131,587	2,272,466	2,642,635	2,572,499	2,090,811	2,829,115	1,813,223	2,101,282	2,423,721	1,770,661	1,874,557	0
Gross Profit	655,784	571,978	680,567	755,777	936,341	978,135	849,638	1,153,703	715,749	904,269	1,048,295	752,137	794,361	0
Admin Expenses	1,012,993	837,446	621,863	1,607,647	818,869	1,206,370	841,395	795,020	481,876	1,156,746	990,481	303,625	764,693	573,517
Operating Profit	-357,209	-265,468	58,704	-851,870	117,472	-228,235	8,243	358,683	233,873	-252,477	57,814	448,512	29,668	-573,517
Interest Payable	0	0	0	0	0	0	78,814	168,345	112,043	52,218	51,708	30,752	5,597	0
Interest Receivable	479	130	141	317	122	17	7	139	178	72	197	362	1,899	1,709
Pre-Tax Profit	-356,730	-265,338	58,846	-851,553	117,594	-228,218	-70,564	190,478	122,008	-304,624	6,303	418,122	25,969	-571,808
Tax	0	0	-11,181	0	-22,343	0	0	-38,095	-25,622	0	-1,513	-108,712	-7,271	0
Profit After Tax	-356,730	-265,338	47,665	-851,553	95,251	-228,218	-70,564	152,382	96,386	-304,624	4,790	309,410	18,698	-571,808
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-356,730	-265,338	47,665	-851,553	95,251	-228,218	-70,564	152,382	96,386	-304,624	4,790	309,410	18,698	-571,808
Employee Costs	1,010,263	827,545	950,391	1,018,256	980,507	1,054,586	1,238,849	755,956	481,166	556,023	661,714	490,782	528,629	0
Number Of Employees	15	13	16	17	17	19	23	14	9	11	13	10	11	0
EBITDA*	-261,558	-174,014	141,513	-48,777	231,597	-71,209	197,515	476,903	338,379	-151,528	152,454	580,792	157,296	-416,916

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Sep 2022	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Sep 2017	Sep 2016	Sep 2015	Sep 2014	Sep 2013	Sep 2012	Sep 2011	Sep 2010	Sep 2009
Tangible Assets	1,921,787	1,897,821	2,186,167	2,210,870	2,969,104	3,058,390	3,796,278	3,911,512	3,791,670	3,795,788	3,879,374	3,718,694	2,784,268	252,744
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	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	0	0	0
Total Fixed Assets	1,921,787	1,897,821	2,186,167	2,210,870	2,969,104	3,058,390	3,796,278	3,911,512	3,791,670	3,795,788	3,879,374	3,718,694	2,784,268	252,744
Stock & work in progress	31,588	4,370	3,666	2,380	3,905	2,383	10,188	17,413	19,426	24,262	39,217	43,453	46,769	76,435
Trade Debtors	708,107	726,515	901,226	976,996	1,257,890	1,258,878	796,898	979,149	577,636	729,682	860,723	611,317	663,497	661,537
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	1,770	40,786	219,708	63,183	21,221	11,213	2,573	2,902	52,665	18,690	9,928	68,995	75,789	683,651
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	741,465	771,671	1,124,600	1,042,559	1,283,016	1,272,474	809,659	999,464	649,727	772,634	909,868	723,765	786,055	1,421,623
total assets	2,663,252	2,669,492	3,310,767	3,253,429	4,252,120	4,330,864	4,605,937	4,910,976	4,441,397	4,568,422	4,789,242	4,442,459	3,570,323	1,674,367
Bank overdraft	0	0	0	0	0	0	0	302,051	437,788	789,704	817,008	774,013	172,212	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	2,058,693	1,769,174	2,142,191	2,179,184	2,330,417	2,204,412	2,251,267	2,183,691	1,730,757	1,600,236	1,481,061	1,375,007	1,481,221	1,347,940
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	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current liabilities	2,058,693	1,769,174	2,142,191	2,179,184	2,330,417	2,204,412	2,251,267	2,485,742	2,168,545	2,389,940	2,298,069	2,149,020	1,653,433	1,347,940
loans	0	0	0	0	0	0	0	2,220,000	2,220,000	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	2,024,717	1,963,746	1,966,666	1,920,000	1,920,000	2,220,000	2,220,000	0	0	2,222,016	2,230,083	2,035,000	1,970,000	200,000
provisions	0	0	0	0	0	0	0	0	0	0	0	2,139	0	198,235
total long term liabilities	2,024,717	1,963,746	1,966,666	1,920,000	1,920,000	2,220,000	2,220,000	2,220,000	2,220,000	2,222,016	2,230,083	2,037,139	1,970,000	398,235
total liabilities	4,083,410	3,732,920	4,108,857	4,099,184	4,250,417	4,424,412	4,471,267	4,705,742	4,388,545	4,611,956	4,528,152	4,186,159	3,623,433	1,746,175
net assets	-1,420,158	-1,063,428	-798,090	-845,755	1,703	-93,548	134,670	205,234	52,852	-43,534	261,090	256,300	-53,110	-71,808
total shareholders funds	-1,420,158	-1,063,428	-798,090	-845,755	1,703	-93,548	134,670	205,234	52,852	-43,534	261,090	256,300	-53,110	-71,808

	Sep 2022	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Sep 2017	Sep 2016	Sep 2015	Sep 2014	Sep 2013	Sep 2012	Sep 2011	Sep 2010	Sep 2009
Operating Activities
Operating Profit	-357,209	-265,468	58,704	-851,870	117,472	-228,235	8,243	358,683	233,873	-252,477	57,814	448,512	29,668	-573,517
Depreciation	95,651	91,454	82,809	803,093	114,125	157,026	189,272	118,220	104,506	100,949	94,640	132,280	127,628	156,601
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	0	0	-11,181	0	-22,343	0	0	-38,095	-25,622	0	-1,513	-108,712	-7,271	0
Stock	27,218	704	1,286	-1,525	1,522	-7,805	-7,225	-2,013	-4,836	-14,955	-4,236	-3,316	-29,666	76,435
Debtors	-18,408	-174,711	-75,770	-280,894	-988	461,980	-182,251	401,513	-152,046	-131,041	249,406	-52,180	1,960	661,537
Creditors	289,519	-373,017	-36,993	-151,233	126,005	-46,855	67,576	452,934	130,521	119,175	106,054	-106,214	133,281	1,347,940
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	0	0	-2,139	2,139	-198,235	198,235
Cash flow from operations	19,151	-373,024	167,823	82,409	334,725	-572,239	454,567	492,242	600,160	113,643	9,686	423,501	112,777	391,287
Investing Activities
capital expenditure	-119,617	196,892	-58,106	-44,859	-24,839	580,862	-74,038	-238,062	-100,388	-17,363	-255,320	-1,066,706	-2,659,152	-409,345
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-119,617	196,892	-58,106	-44,859	-24,839	580,862	-74,038	-238,062	-100,388	-17,363	-255,320	-1,066,706	-2,659,152	-409,345
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	0	0	0	0	0	0	-2,220,000	0	2,220,000	0	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	60,971	-2,920	46,666	0	-300,000	0	2,220,000	0	-2,222,016	-8,067	195,083	65,000	1,770,000	200,000
share issue	0	0	0	4,095	0	0	0	0	0	0	0	0	0	500,000
interest	479	130	141	317	122	17	-78,807	-168,206	-111,865	-52,146	-51,511	-30,390	-3,698	1,709
cash flow from financing	61,450	-2,790	46,807	4,412	-299,878	17	-78,807	-168,206	-113,881	-60,213	143,572	34,610	1,766,302	701,709
cash and cash equivalents
cash	-39,016	-178,922	156,525	41,962	10,008	8,640	-329	-49,763	33,975	8,762	-59,067	-6,794	-607,862	683,651
overdraft	0	0	0	0	0	0	-302,051	-135,737	-351,916	-27,304	42,995	601,801	172,212	0
change in cash	-39,016	-178,922	156,525	41,962	10,008	8,640	301,722	85,974	385,891	36,066	-102,062	-608,595	-780,074	683,651

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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INTERNET FOR BUSINESS LIMITED group structure

Internet For Business Limited has 1 subsidiary company.

Ultimate parent company

INTERNET FOR BUSINESS LIMITED

SC159601

1 subsidiary

INTERACKT LTD.

SC274667

INTERNET FOR BUSINESS LIMITED Shareholders

john charles alexander michie	68.17%
graeme gordon	30.79%
greg singer	0.71%
steven michie	0.33%

Internet For Business Limited currently has 2 directors. The longest serving directors include Mr John Michie (Aug 1995) and Mr Graeme Gordon (Sep 2009).

officer	country	age	start	end	role
Mr John Michie		84 years	Aug 1995	-	Director
Mr Graeme Gordon		57 years	Sep 2009	-	Director

P&L

September 2022

turnover

2.5m

+6%

operating profit

-357.2k

gross margin

26.5%

+8.2%

turnover

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

Balance Sheet

September 2022

net assets

-1.4m

+0.34%

total assets

2.7m

cash

1.8k

-0.96%

net assets

Total assets minus all liabilities

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company number

SC159601

Type

Private limited with Share Capital

industry

62090 - Other information technology and computer service activities

incorporation date

August 1995

ultimate parent company

None

previous names

rurom limited (August 1995)

address

building 54 54 hareness road, aberdeen, AB12 3LE

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 2 charges/mortgages relating to internet for business limited. Currently there are 2 open charges and 0 have been satisfied in the past.

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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internet for business limited Company Information

internet for business limited Estimated Valuation

internet for business limited Estimated Valuation

internet for business limited Estimated Valuation

Internet For Business Limited Overview

Internet For Business Limited Health Check

INTERNET FOR BUSINESS LIMITED financials

internet for business limited Credit Report and Business Information

Internet For Business Limited Competitor Analysis

internet for business limited Ownership

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internet for business limited company details

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internet for business limited Companies House Filings - See Documents