Irvine Spring Company Limited

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irvine spring company limited Company Information

Live

MatureSmallDeclining

Company Number

SC192668

Website

www.irvinesprings.com

Registered Address

6 kyle road, industrial estate, irvine, ayrshire, KA12 8JS

Industry

Manufacture of wire products, chain and springs

Telephone

01294279396

Next Accounts Due

September 2024

Group Structure

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Directors

Anne Calleia-Cutts7 Years

Keith Gardner7 Years

View All

Shareholders

industrade uk limited 100%

irvine spring company limited Estimated Valuation

£1.8m

Pomanda estimates the enterprise value of IRVINE SPRING COMPANY LIMITED at £1.8m based on Net Assets of £787.4k and 2.27x industry multiple (adjusted for liquidity).

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Irvine Spring Company Limited is a live company located in irvine, KA12 8JS with a Companies House number of SC192668. It operates in the manufacture of wire products, chain and springs sector, SIC Code 25930. Founded in January 1999, it's largest shareholder is industrade uk limited with a 100% stake. Irvine Spring Company Limited is a mature, small sized company, Pomanda has estimated its turnover at £1m with declining growth in recent years.

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Pomanda's financial health check has awarded Irvine Spring Company Limited a 2.5 rating. We use a traffic light system to show it exceeds the industry average on 2 measures and has 7 areas for improvement. Company Health Check FAQs

Health Rating2.5out of 5

2 Strong

3 Regular

7 Weak

Size

annual sales of £1m, make it smaller than the average company (£13.3m)

Growth

3 year (CAGR) sales growth of -5%, show it is growing at a slower rate (0.5%)

EXPORT

Irvine Spring Company Limited's latest turnover from December 2022 is estimated at £1 million and the company has net assets of £787.4 thousand. According to their latest financial statements, Irvine Spring Company Limited has 16 employees and maintains cash reserves of £758.8 thousand 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	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012	Jan 2011	Jan 2010
Turnover	1,046,641	983,190	680,274	1,208,227	931,051	760,800	896,224	599,316	594,288	413,255	456,022	490,467	396,606	433,449
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	755,678	733,609	347,925	448,537	345,540	314,600	301,142	427,812	434,156	305,299	347,990	356,397	283,028	332,944
Gross Profit	290,963	249,582	332,349	759,690	585,511	446,200	595,082	171,504	160,132	107,955	108,033	134,070	113,577	100,505
Admin Expenses	271,271	-35,316	230,825	357,001	317,889	304,937	382,968	22,114	150,374	104,551	97,733	111,106	99,780	-81,356
Operating Profit	19,692	284,898	101,524	402,689	267,622	141,263	212,114	149,390	9,758	3,404	10,300	22,964	13,797	181,861
Interest Payable	52,299	33,803	13,768	9,200	3,983	0	0	0	0	0	0	0	0	0
Interest Receivable	25,378	1,507	345	0	13	25	178	542	404	460	436	412	367	174
Pre-Tax Profit	-7,228	252,602	88,101	393,489	263,652	141,288	212,292	149,933	10,162	3,864	10,736	23,376	14,164	182,035
Tax	0	-47,994	-18,744	-73,804	-49,688	-27,208	-47,060	-29,986	-2,134	-889	-2,577	-6,078	-3,966	-50,970
Profit After Tax	-7,228	204,608	69,357	319,685	213,964	114,080	165,232	119,946	8,028	2,975	8,159	17,298	10,198	131,065
Dividends Paid	0	0	100,000	200,000	300,000	0	0	0	0	0	0	0	0	0
Retained Profit	-7,228	204,608	-30,643	119,685	-86,036	114,080	165,232	119,946	8,028	2,975	8,159	17,298	10,198	131,065
Employee Costs	637,651	600,338	328,532	354,708	308,135	327,990	286,365	290,685	291,572	115,150	117,839	116,051	105,899	103,592
Number Of Employees	16	16	12	13	12	10	10	10	10	4	4	4	4	4
EBITDA*	62,731	322,815	138,936	430,462	284,841	156,140	216,567	154,369	17,115	12,980	21,310	33,965	25,099	193,640

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012	Jan 2011	Jan 2010
Tangible Assets	402,511	429,086	424,496	447,193	241,478	182,135	28,362	16,422	24,832	19,179	25,005	29,998	40,999	52,300
Intangible Assets	12,655	13,600	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	0	0	0	0	0	0	0	20,000	20,000	20,000	20,000	20,000	20,000	20,000
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	415,166	442,686	424,496	447,193	241,478	182,135	28,362	36,422	44,832	39,179	45,005	49,998	60,999	72,300
Stock & work in progress	119,367	108,512	113,215	178,258	130,333	113,037	98,366	120,753	105,966	79,216	61,116	51,366	47,595	53,788
Trade Debtors	153,707	165,320	159,545	199,817	202,744	145,944	166,549	128,260	86,190	93,020	101,454	119,598	91,433	70,893
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	43,472	46,388	17,416	27,057	62,285	5,606	11,834	4,899	3,109	0	0	0	0	0
Cash	758,832	691,350	514,469	487,881	270,767	185,876	273,473	152,399	64,459	97,135	86,667	87,564	77,304	69,603
misc current assets	0	0	0	0	0	72	0	0	0	0	0	0	0	0
total current assets	1,075,378	1,011,570	804,645	893,013	666,129	450,535	550,222	406,311	259,724	269,371	249,237	258,528	216,332	194,284
total assets	1,490,544	1,454,256	1,229,141	1,340,206	907,607	632,670	578,584	442,733	304,556	308,550	294,242	308,526	277,331	266,584
Bank overdraft	0	0	0	0	0	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	53,182	44,282	26,134	42,013	12,665	8,056	21,922	9,083	12,049	85,781	73,450	95,103	78,951	76,402
Group/Directors Accounts	0	0	0	7,878	312,459	1,140	6,886	20,000	20,000	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	59,848	52,386	47,922	139,464	72,657	31,270	72,338	63,350	40,810	0	0	0	0	0
total current liabilities	113,030	96,668	74,056	189,355	397,781	40,466	101,146	92,433	72,859	85,781	73,450	95,103	78,951	76,402
loans	560,177	540,845	540,844	513,183	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0
provisions	29,970	22,148	24,254	17,038	8,881	5,223	4,537	2,631	3,974	3,074	4,072	4,862	7,117	9,117
total long term liabilities	590,147	562,993	565,098	530,221	8,881	5,223	4,537	2,631	3,974	3,074	4,072	4,862	7,117	9,117
total liabilities	703,177	659,661	639,154	719,576	406,662	45,689	105,683	95,064	76,833	88,855	77,522	99,965	86,068	85,519
net assets	787,367	794,595	589,987	620,630	500,945	586,981	472,901	347,669	227,723	219,695	216,720	208,561	191,263	181,065
total shareholders funds	787,367	794,595	589,987	620,630	500,945	586,981	472,901	347,669	227,723	219,695	216,720	208,561	191,263	181,065

	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Jan 2016	Jan 2015	Jan 2014	Jan 2013	Jan 2012	Jan 2011	Jan 2010
Operating Activities
Operating Profit	19,692	284,898	101,524	402,689	267,622	141,263	212,114	149,390	9,758	3,404	10,300	22,964	13,797	181,861
Depreciation	42,094	37,342	37,412	27,773	17,219	14,877	4,453	4,979	7,357	9,576	11,010	11,001	11,302	11,779
Amortisation	945	575	0	0	0	0	0	0	0	0	0	0	0	0
Tax	0	-47,994	-18,744	-73,804	-49,688	-27,208	-47,060	-29,986	-2,134	-889	-2,577	-6,078	-3,966	-50,970
Stock	10,855	-4,703	-65,043	47,925	17,296	14,671	-7,600	14,787	26,750	18,100	9,750	3,771	-6,193	53,788
Debtors	-14,529	34,747	-49,913	-38,155	113,479	-26,833	89,084	43,860	-3,721	-8,434	-18,144	28,165	20,540	70,893
Creditors	8,900	18,148	-15,879	29,348	4,609	-13,866	9,873	-2,966	-73,732	12,331	-21,653	16,152	2,549	76,402
Accruals and Deferred Income	7,462	4,464	-91,542	66,807	41,387	-41,068	31,528	22,540	40,810	0	0	0	0	0
Deferred Taxes & Provisions	7,822	-2,106	7,216	8,157	3,658	686	563	-1,343	900	-998	-790	-2,255	-2,000	9,117
Cash flow from operations	90,589	265,283	134,943	451,200	154,032	86,846	129,987	83,967	-40,070	13,758	4,684	9,848	7,335	103,508
Investing Activities
capital expenditure	-15,519	-56,107	-14,715	-233,488	-76,562	-168,650	-7,983	3,431	-13,010	-3,750	-6,017	0	-1	-64,079
Change in Investments	0	0	0	0	0	0	-20,000	0	0	0	0	0	0	20,000
cash flow from investments	-15,519	-56,107	-14,715	-233,488	-76,562	-168,650	12,017	3,431	-13,010	-3,750	-6,017	0	-1	-84,079
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	-7,878	-304,581	311,319	-5,746	-13,114	0	20,000	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	19,332	1	27,661	513,183	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	0	0	0	0	0	0	79,946	0	0	0	0	0	0	50,000
interest	-26,921	-32,296	-13,423	-9,200	-3,970	25	178	542	404	460	436	412	367	174
cash flow from financing	-7,589	-32,295	6,360	199,402	307,349	-5,721	67,010	542	20,404	460	436	412	367	50,174
cash and cash equivalents
cash	67,482	176,881	26,588	217,114	84,891	-87,597	209,014	87,940	-32,676	10,468	-897	10,260	7,701	69,603
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	67,482	176,881	26,588	217,114	84,891	-87,597	209,014	87,940	-32,676	10,468	-897	10,260	7,701	69,603

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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IRVINE SPRING COMPANY LIMITED group structure

Irvine Spring Company Limited has no subsidiary companies.

Ultimate parent company

INDUTRADE AB (PUBL)

#0059628

INDUTRADE UK LIMITED

09287563

2 parents

IRVINE SPRING COMPANY LIMITED

SC192668

IRVINE SPRING COMPANY LIMITED Shareholders

industrade uk limited

100%

Irvine Spring Company Limited currently has 4 directors. The longest serving directors include Mrs Anne Calleia-Cutts (Oct 2016) and Mr Keith Gardner (Oct 2016).

officer	country	age	start	end	role
Mrs Anne Calleia-Cutts		52 years	Oct 2016	-	Director
Mr Keith Gardner	England	61 years	Oct 2016	-	Director
Mr Peter Rowlands	England	56 years	Oct 2016	-	Director
Mr Neil Matthews	United Kingdom	51 years	Oct 2016	-	Director

P&L

December 2022

turnover

+6%

operating profit

19.7k

gross margin

27.8%

+9.51%

turnover

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

Balance Sheet

December 2022

net assets

787.4k

-0.01%

total assets

1.5m

+0.02%

cash

758.8k

+0.1%

net assets

Total assets minus all liabilities

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company number

SC192668

Type

Private limited with Share Capital

industry

25930 - Manufacture of wire products, chain and springs

incorporation date

January 1999

age

accounts

Small Company

ultimate parent company

INDUTRADE AB (PUBL)

previous names

allgrapet business corporation limited (June 1999)

hbj 451 limited (April 1999)

incorporated

address

6 kyle road, industrial estate, irvine, ayrshire, KA12 8JS

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 irvine spring company limited. Currently there are 0 open charges and 2 have been satisfied in the past.

irvine spring company limited Company Information

irvine spring company limited Estimated Valuation

irvine spring company limited Estimated Valuation

irvine spring company limited Estimated Valuation

Irvine Spring Company Limited Overview

Irvine Spring Company Limited Health Check

IRVINE SPRING COMPANY LIMITED financials

irvine spring company limited Credit Report and Business Information

Irvine Spring Company Limited Competitor Analysis

irvine spring company limited Ownership

irvine spring company limited directors

irvine spring company limited company details

irvine spring company limited Charges & Mortgages

irvine spring company limited Companies House Filings - See Documents