Challenge Fishing Company Limited

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challenge fishing company limited Company Information

Live

MatureSmallDeclining

Company Number

SC192237

Website

Registered Address

lootingstone, rathen, fraserburgh, aberdeenshire, AB43 8UR

Industry

Marine fishing

Telephone

01346583371

Next Accounts Due

September 2024

Group Structure

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Directors

George Tait Snr25 Years

Christina Tait25 Years

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Shareholders

george tait snr 38.3%

christina margaret tait 38.3%

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challenge fishing company limited Estimated Valuation

£917.9k - £51.8m

The estimated valuation range for challenge fishing company limited, derived from financial data as of December 2022 and the most recent industry multiples, is between £917.9k to £51.8m

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Challenge Fishing Company Limited AI Business Plan

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Challenge Fishing Company Limited is a live company located in fraserburgh, AB43 8UR with a Companies House number of SC192237. It operates in the marine fishing sector, SIC Code 03110. Founded in December 1998, it's largest shareholder is george tait snr with a 38.3% stake. Challenge Fishing Company Limited is a mature, small sized company, Pomanda has estimated its turnover at £1.6m with declining growth in recent years.

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Pomanda's financial health check has awarded Challenge Fishing Company Limited a 3.5 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 5 areas for improvement. Company Health Check FAQs

Health Rating3.5out of 5

3 Strong

2 Regular

5 Weak

Size

annual sales of £1.6m, make it smaller than the average company (£12.9m)

Growth

3 year (CAGR) sales growth of -16%, show it is growing at a slower rate (3.7%)

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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CHALLENGE FISHING COMPANY LIMITED group structure

Challenge Fishing Company Limited has 1 subsidiary company.

Ultimate parent company

CHALLENGE FISHING COMPANY LIMITED

SC192237

1 subsidiary

WESTWARD BF 350 LIMITED

SC102297

CHALLENGE FISHING COMPANY LIMITED Shareholders

george tait snr	38.26%
christina margaret tait	38.26%
michael tait	8.13%
george tait jnr	7.69%
louise sinclair	7.65%

Challenge Fishing Company Limited currently has 5 directors. The longest serving directors include Mr George Tait Snr (Dec 1998) and Ms Christina Tait (Dec 1998).

officer	country	age	start	end	role
Mr George Tait Snr	Scotland	67 years	Dec 1998	-	Director
Ms Christina Tait		65 years	Dec 1998	-	Director
Mr Michael Tait	Scotland	41 years	Jan 2006	-	Director
Mr George Tait Jnr	United Kingdom	48 years	Jan 2006	-	Director
Ms Louise Sinclair		46 years	Oct 2008	-	Director

EXPORT

Challenge Fishing Company Limited's latest turnover from December 2022 is estimated at £1.6 million and the company has net assets of £29.1 million. According to their latest financial statements, Challenge Fishing Company Limited has 8 employees and maintains cash reserves of £1.6 million as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Turnover	1,625,300	520,428	499,243	2,782,868	2,670,874	2,842,173	2,402,031	1,527,284	68,583,649	68,717,113	57,760,236	40,819,612	20,369,952	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,288,109	364,399	363,293	2,049,602	2,108,534	2,090,999	1,765,664	1,182,792	52,274,662	55,712,278	47,231,736	34,721,720	17,493,246	0
Gross Profit	337,191	156,029	135,950	733,266	562,340	751,174	636,366	344,492	16,308,988	13,004,835	10,528,500	6,097,892	2,876,706	0
Admin Expenses	-4,418,138	-3,857,685	-3,434,749	-1,854,384	-2,961,004	-719,339	-2,741,954	-2,223,177	14,417,898	13,206,323	12,166,292	5,537,416	2,929,820	-1,829,388
Operating Profit	4,755,329	4,013,714	3,570,699	2,587,650	3,523,344	1,470,513	3,378,320	2,567,669	1,891,090	-201,488	-1,637,792	560,476	-53,114	1,829,388
Interest Payable	0	0	0	713	713	0	0	0	0	0	0	0	0	0
Interest Receivable	75,251	6,292	2,148	15,424	9,305	4,421	3,666	9,565	7,501	3,408	2,589	1,017	723	650
Pre-Tax Profit	4,830,580	4,020,006	3,572,847	2,602,362	3,531,936	1,474,935	3,381,986	2,577,234	1,898,591	-198,080	-1,635,203	561,493	-52,391	1,830,038
Tax	-917,810	-763,801	-678,841	-494,449	-671,068	-280,238	-676,397	-515,447	-398,704	0	0	-145,988	0	-512,410
Profit After Tax	3,912,770	3,256,205	2,894,006	2,107,913	2,860,868	1,194,697	2,705,589	2,061,787	1,499,887	-198,080	-1,635,203	415,505	-52,391	1,317,627
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	3,912,770	3,256,205	2,894,006	2,107,913	2,860,868	1,194,697	2,705,589	2,061,787	1,499,887	-198,080	-1,635,203	415,505	-52,391	1,317,627
Employee Costs	379,913	199,136	224,361	217,010	214,738	187,821	181,926	188,613	5,388,257	5,545,363	3,596,694	3,129,618	2,064,742	0
Number Of Employees	8	5	5	5	5	5	5	5	145	144	104	97	64	0
EBITDA*	4,865,735	4,089,132	3,642,339	2,831,441	3,821,456	1,709,790	3,594,125	2,793,454	2,118,517	30,364	-1,397,301	813,684	182,605	2,038,001

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Tangible Assets	281,243	137,004	151,837	504,642	572,503	572,324	554,687	627,560	697,832	739,635	719,522	776,930	797,558	274,185
Intangible Assets	0	34,971	73,121	111,271	299,261	488,319	677,377	882,535	1,072,743	1,262,951	1,453,159	1,643,367	1,833,575	2,027,998
Investments & Other	32,049,250	27,175,246	24,594,060	22,463,484	19,769,409	22,515,542	19,631,482	17,557,789	15,068,948	12,762,218	12,400,412	10,843,978	8,964,947	7,299,019
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	11,687	11,687	11,687	32,395	0	0
Total Fixed Assets	32,330,493	27,347,221	24,819,018	23,079,397	20,641,173	23,576,185	20,863,546	19,067,884	16,851,210	14,776,491	14,584,780	13,296,670	11,596,080	9,601,202
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	30,000	10,000
Trade Debtors	0	0	0	0	0	379,200	0	21,325	9,590	6,339	10,815	32,893	44,125	17,648
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	364,455	312,843	311,779	12,685	13,278	694,916	13,964	16,620	0	0	0	0	0	0
Cash	1,564,076	2,735,977	2,297,450	1,998,276	2,114,729	366,480	1,402,028	1,531,071	2,294,966	705,317	657,948	377,641	29,324	259,893
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	1,928,531	3,048,820	2,609,229	2,010,961	2,128,007	1,440,596	1,415,992	1,569,016	2,304,556	711,656	668,763	410,534	103,449	287,541
total assets	34,259,024	30,396,041	27,428,247	25,090,358	22,769,180	25,016,781	22,279,538	20,636,900	19,155,766	15,488,147	15,253,543	13,707,204	11,699,529	9,888,743
Bank overdraft	0	0	0	0	21,112	0	0	0	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	88,578	21,016	7,052	262,579	258,835	257,782	259,698	265,021	12,506,270	10,385,553	9,110,352	5,887,238	4,183,839	2,239,932
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	3,243,694	2,659,851	3,009,066	2,317,572	1,944,468	8,300,779	10,592,404	11,636,415	0	0	0	0	0	0
total current liabilities	3,332,272	2,680,867	3,016,118	2,580,151	2,224,415	8,558,561	10,852,102	11,901,436	12,506,270	10,385,553	9,110,352	5,887,238	4,183,839	2,239,932
loans	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
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	1,550,000	2,200,000	2,200,000	3,200,000	3,200,000	3,200,000	0	0	0	0	705,113	663,222	663,222	663,222
provisions	319,224	370,416	323,576	315,660	455,600	929,079	296,367	309,984	285,803	238,788	376,192	459,655	570,884	651,614
total long term liabilities	1,869,224	2,570,416	2,523,576	3,515,660	3,655,600	4,129,079	296,367	309,984	285,803	238,788	1,081,305	1,122,877	1,234,106	1,314,836
total liabilities	5,201,496	5,251,283	5,539,694	6,095,811	5,880,015	12,687,640	11,148,469	12,211,420	12,792,073	10,624,341	10,191,657	7,010,115	5,417,945	3,554,768
net assets	29,057,528	25,144,758	21,888,553	18,994,547	16,889,165	12,329,141	11,131,069	8,425,480	6,363,693	4,863,806	5,061,886	6,697,089	6,281,584	6,333,975
total shareholders funds	29,057,528	25,144,758	21,888,553	18,994,547	16,889,165	12,329,141	11,131,069	8,425,480	6,363,693	4,863,806	5,061,886	6,697,089	6,281,584	6,333,975

	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Operating Activities
Operating Profit	4,755,329	4,013,714	3,570,699	2,587,650	3,523,344	1,470,513	3,378,320	2,567,669	1,891,090	-201,488	-1,637,792	560,476	-53,114	1,829,388
Depreciation	75,435	37,268	33,490	55,801	109,054	50,219	26,747	35,577	37,219	41,644	50,283	63,000	45,511	18,260
Amortisation	34,971	38,150	38,150	187,990	189,058	189,058	189,058	190,208	190,208	190,208	190,208	190,208	190,208	190,353
Tax	-917,810	-763,801	-678,841	-494,449	-671,068	-280,238	-676,397	-515,447	-398,704	0	0	-145,988	0	-512,410
Stock	0	0	0	0	0	0	0	0	0	0	0	-30,000	20,000	10,000
Debtors	51,612	1,064	299,094	-593	-1,060,838	1,060,152	-23,981	16,668	3,251	-4,476	-42,786	21,163	26,477	17,648
Creditors	67,562	13,964	-255,527	3,744	1,053	-1,916	-5,323	-12,241,249	2,120,717	1,275,201	3,223,114	1,703,399	1,943,907	2,239,932
Accruals and Deferred Income	583,843	-349,215	691,494	373,104	-6,356,311	-2,291,625	-1,044,011	11,636,415	0	0	0	0	0	0
Deferred Taxes & Provisions	-51,192	46,840	7,916	-139,940	-473,479	632,712	-13,617	24,181	47,015	-137,404	-83,463	-111,229	-80,730	651,614
Cash flow from operations	4,496,526	3,035,856	3,108,287	2,574,493	-2,617,511	-1,291,429	1,878,758	1,680,686	3,884,294	1,172,637	1,785,136	2,268,703	1,999,305	4,389,489
Investing Activities
capital expenditure	-219,674	-22,435	319,315	12,060	-109,233	-67,856	62,226	34,695	4,584	-61,757	7,125	-42,372	-564,669	-2,510,796
Change in Investments	4,874,004	2,581,186	2,130,576	2,694,075	-2,746,133	2,884,060	2,073,693	2,488,841	2,306,730	361,806	1,556,434	1,879,031	1,665,928	7,299,019
cash flow from investments	-5,093,678	-2,603,621	-1,811,261	-2,682,015	2,636,900	-2,951,916	-2,011,467	-2,454,146	-2,302,146	-423,563	-1,549,309	-1,921,403	-2,230,597	-9,809,815
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	0	0	0	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	-650,000	0	-1,000,000	0	0	3,200,000	0	0	0	-705,113	41,891	0	0	663,222
share issue	0	0	0	-2,531	1,699,156	3,375	0	0	0	0	0	0	0	5,016,348
interest	75,251	6,292	2,148	14,711	8,592	4,421	3,666	9,565	7,501	3,408	2,589	1,017	723	650
cash flow from financing	-574,749	6,292	-997,852	12,180	1,707,748	3,207,796	3,666	9,565	7,501	-701,705	44,480	1,017	723	5,680,220
cash and cash equivalents
cash	-1,171,901	438,527	299,174	-116,453	1,748,249	-1,035,548	-129,043	-763,895	1,589,649	47,369	280,307	348,317	-230,569	259,893
overdraft	0	0	0	-21,112	21,112	0	0	0	0	0	0	0	0	0
change in cash	-1,171,901	438,527	299,174	-95,341	1,727,137	-1,035,548	-129,043	-763,895	1,589,649	47,369	280,307	348,317	-230,569	259,893

P&L

December 2022

turnover

1.6m

+212%

operating profit

4.8m

gross margin

20.8%

-30.8%

turnover

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

Balance Sheet

December 2022

net assets

29.1m

+0.16%

total assets

34.3m

+0.13%

cash

1.6m

-0.43%

net assets

Total assets minus all liabilities

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company number

SC192237

Type

Private limited with Share Capital

industry

03110 - Marine fishing

incorporation date

December 1998

age

accounts

Total Exemption Full

ultimate parent company

None

previous names

N/A

incorporated

address

lootingstone, rathen, fraserburgh, aberdeenshire, AB43 8UR

last accounts submitted

December 2022

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 challenge fishing company limited. Currently there are 1 open charges and 1 have been satisfied in the past.

challenge fishing company limited Company Information

challenge fishing company limited Estimated Valuation

challenge fishing company limited Estimated Valuation

challenge fishing company limited Estimated Valuation

Challenge Fishing Company Limited AI Business Plan

Challenge Fishing Company Limited Overview

Challenge Fishing Company Limited Health Check

challenge fishing company limited Credit Report and Business Information

Challenge Fishing Company Limited Competitor Analysis

challenge fishing company limited Ownership

challenge fishing company limited directors

CHALLENGE FISHING COMPANY LIMITED financials

challenge fishing company limited company details

challenge fishing company limited Charges & Mortgages

challenge fishing company limited Companies House Filings - See Documents