Continuity2 Limited

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continuity2 limited Company Information

Live

MatureSmallHealthy

Company Number

SC237673

Website

www.continuity2.com

Registered Address

office 5f centrum house, 38 queen street, glasgow, G1 3DX

Industry

Business and domestic software development

Telephone

08450944402

Next Accounts Due

December 2024

Group Structure

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Directors

Andrea McGlave21 Years

Richard McGlave21 Years

Shareholders

richard mcglave 70%

andrea kathleen mcglave 20%

View All

continuity2 limited Estimated Valuation

£18.1m

Pomanda estimates the enterprise value of CONTINUITY2 LIMITED at £18.1m based on Net Assets of £8m and 2.26x industry multiple (adjusted for liquidity).

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Continuity2 Limited is a live company located in glasgow, G1 3DX with a Companies House number of SC237673. It operates in the business and domestic software development sector, SIC Code 62012. Founded in October 2002, it's largest shareholder is richard mcglave with a 70% stake. Continuity2 Limited is a mature, small sized company, Pomanda has estimated its turnover at £1.7m with healthy growth in recent years.

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Pomanda's financial health check has awarded Continuity2 Limited a 3.5 rating. We use a traffic light system to show it exceeds the industry average on 2 measures and has 5 areas for improvement. Company Health Check FAQs

Health Rating3.5out of 5

2 Strong

4 Regular

5 Weak

Size

annual sales of £1.7m, make it smaller than the average company (£2.9m)

Growth

3 year (CAGR) sales growth of 7%, show it is growing at a similar rate (8.1%)

EXPORT

Continuity2 Limited's latest turnover from March 2023 is estimated at £1.7 million and the company has net assets of £8 million. According to their latest financial statements, Continuity2 Limited has 17 employees and maintains cash reserves of £299 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Turnover	1,653,429	1,931,632	1,571,068	1,345,432	1,423,144	1,907,501	851,821	530,808	1,459,526	1,201,291	913,809	1,427,927	869,739	990,805
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	957,616	1,055,247	882,919	762,543	821,866	1,114,586	480,956	300,260	789,068	672,330	488,936	731,576	436,356	539,119
Gross Profit	695,813	876,385	688,149	582,889	601,277	792,915	370,865	230,548	670,458	528,961	424,873	696,351	433,384	451,686
Admin Expenses	627,940	876,979	542,591	401,609	453,840	473,155	155,467	193,171	583,763	435,397	408,173	702,386	425,122	451,342
Operating Profit	67,873	-594	145,558	181,280	147,437	319,760	215,398	37,377	86,695	93,564	16,700	-6,035	8,262	344
Interest Payable	0	0	0	0	0	5,429	9,891	4,858	0	0	0	0	0	0
Interest Receivable	10,517	2,603	284	64	237	30	18	44	30	10	4	2	2	1
Pre-Tax Profit	78,390	2,009	145,842	181,343	147,674	314,362	205,525	32,563	86,725	93,574	16,704	-6,033	8,264	344
Tax	-14,894	-382	-27,710	-34,455	-28,058	-59,729	-41,105	-6,512	-18,212	-21,522	-4,009	0	-2,314	-96
Profit After Tax	63,496	1,627	118,132	146,888	119,616	254,633	164,420	26,050	68,513	72,052	12,695	-6,033	5,950	248
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	63,496	1,627	118,132	146,888	119,616	254,633	164,420	26,050	68,513	72,052	12,695	-6,033	5,950	248
Employee Costs	1,102,663	1,086,243	792,372	802,321	845,418	699,747	337,380	214,701	482,603	434,678	365,810	521,118	304,757	343,681
Number Of Employees	17	18	14	14	14	12	6	4	9	8	7	10	6	7
EBITDA*	75,113	9,070	154,042	187,332	155,541	325,819	221,493	39,677	89,818	95,605	19,135	-2,829	12,743	6,626

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Tangible Assets	21,661	28,901	25,320	17,954	24,006	17,722	18,056	6,558	8,858	4,718	6,759	8,358	11,564	16,045
Intangible Assets	8,448,067	6,701,989	4,942,583	4,342,583	3,639,583	2,703,583	1,950,000	1,200,000	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	8,469,728	6,730,890	4,967,903	4,360,537	3,663,589	2,721,305	1,968,056	1,206,558	8,858	4,718	6,759	8,358	11,564	16,045
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	649,104	858,678	699,886	594,568	605,362	678,282	292,556	155,090	432,474	328,194	246,838	380,564	235,880	267,576
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	0	0	0	0	0	0	389,473	338,400	0	0	0	0	42,984	0
Cash	298,954	195,975	498,094	69,856	57,375	5,905	6,036	8,626	8,779	3,154	913	553	308	370
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	948,058	1,054,653	1,197,980	664,424	662,737	684,187	688,065	502,116	441,253	331,348	247,751	381,117	279,172	267,946
total assets	9,417,786	7,785,543	6,165,883	5,024,961	4,326,326	3,405,492	2,656,121	1,708,674	450,111	336,066	254,510	389,475	290,736	283,991
Bank overdraft	0	0	0	0	0	0	24,249	64,540	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	1,112,926	1,079,766	882,429	619,023	592,723	287,719	40,188	78,691	200,557	136,054	163,124	288,278	161,509	139,206
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	154,905	100,927	0	0	0	0	0	0
total current liabilities	1,112,926	1,079,766	882,429	619,023	592,723	287,719	219,342	244,158	200,557	136,054	163,124	288,278	161,509	139,206
loans	0	0	0	0	0	0	142,784	84,941	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	310,818	200,886	260,190	100,806	114,359	128,145	0	0	96,029	115,000	78,426	100,932	122,929	144,437
provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	310,818	200,886	260,190	100,806	114,359	128,145	142,784	84,941	96,029	115,000	78,426	100,932	122,929	144,437
total liabilities	1,423,744	1,280,652	1,142,619	719,829	707,082	415,864	362,126	329,099	296,586	251,054	241,550	389,210	284,438	283,643
net assets	7,994,042	6,504,891	5,023,264	4,305,132	3,619,244	2,989,628	2,293,995	1,379,575	153,525	85,012	12,960	265	6,298	348
total shareholders funds	7,994,042	6,504,891	5,023,264	4,305,132	3,619,244	2,989,628	2,293,995	1,379,575	153,525	85,012	12,960	265	6,298	348

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Operating Activities
Operating Profit	67,873	-594	145,558	181,280	147,437	319,760	215,398	37,377	86,695	93,564	16,700	-6,035	8,262	344
Depreciation	7,240	9,664	8,484	6,052	8,104	6,059	6,095	2,300	3,123	2,041	2,435	3,206	4,481	6,282
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-14,894	-382	-27,710	-34,455	-28,058	-59,729	-41,105	-6,512	-18,212	-21,522	-4,009	0	-2,314	-96
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	-209,574	158,792	105,318	-10,794	-72,920	-3,747	188,539	61,016	104,280	81,356	-133,726	101,700	11,288	267,576
Creditors	33,160	197,337	263,406	26,300	305,004	247,531	-38,503	-121,866	64,503	-27,070	-125,154	126,769	22,303	139,206
Accruals and Deferred Income	0	0	0	0	0	-154,905	53,978	100,927	0	0	0	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	302,953	47,233	284,420	189,971	505,407	362,463	7,324	-48,790	31,829	-34,343	23,698	22,240	21,444	-121,840
Investing Activities
capital expenditure	-1,746,078	-1,772,651	-615,850	-703,000	-950,388	-759,308	-767,593	-1,200,000	-7,263	0	-836	0	0	-22,327
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-1,746,078	-1,772,651	-615,850	-703,000	-950,388	-759,308	-767,593	-1,200,000	-7,263	0	-836	0	0	-22,327
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	-142,784	57,843	84,941	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	109,932	-59,304	159,384	-13,553	-13,786	128,145	0	-96,029	-18,971	36,574	-22,506	-21,997	-21,508	144,437
share issue	1,425,655	1,480,000	600,000	539,000	510,000	441,000	750,000	1,200,000	0	0	0	0	0	100
interest	10,517	2,603	284	64	237	-5,399	-9,873	-4,814	30	10	4	2	2	1
cash flow from financing	1,546,104	1,423,299	759,668	525,511	496,451	420,962	797,970	1,184,098	-18,941	36,584	-22,502	-21,995	-21,506	144,538
cash and cash equivalents
cash	102,979	-302,119	428,238	12,481	51,470	-131	-2,590	-153	5,625	2,241	360	245	-62	370
overdraft	0	0	0	0	0	-24,249	-40,291	64,540	0	0	0	0	0	0
change in cash	102,979	-302,119	428,238	12,481	51,470	24,118	37,701	-64,693	5,625	2,241	360	245	-62	370

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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CONTINUITY2 LIMITED group structure

Continuity2 Limited has no subsidiary companies.

Ultimate parent company

CONTINUITY2 LIMITED

SC237673

CONTINUITY2 LIMITED Shareholders

richard mcglave	70%
andrea kathleen mcglave	20%
stephen divers	5%
liam lowe	2.5%
matthew james cunningham	2.5%

Continuity2 Limited currently has 2 directors. The longest serving directors include Mrs Andrea McGlave (Oct 2002) and Mr Richard McGlave (Oct 2002).

officer	country	age	start	end	role
Mrs Andrea McGlave	Scotland	54 years	Oct 2002	-	Director
Mr Richard McGlave	Scotland	62 years	Oct 2002	-	Director

P&L

March 2023

turnover

1.7m

-14%

operating profit

67.9k

gross margin

42.1%

-7.25%

turnover

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

Balance Sheet

March 2023

net assets

+0.23%

total assets

9.4m

+0.21%

cash

299k

+0.53%

net assets

Total assets minus all liabilities

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company number

SC237673

Type

Private limited with Share Capital

industry

62012 - Business and domestic software development

incorporation date

October 2002

age

accounts

Unaudited Abridged

ultimate parent company

None

previous names

r.m. dauer limited (November 2006)

incorporated

address

office 5f centrum house, 38 queen street, glasgow, G1 3DX

last accounts submitted

March 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 2 charges/mortgages relating to continuity2 limited. Currently there are 2 open charges and 0 have been satisfied in the past.

continuity2 limited Company Information

continuity2 limited Estimated Valuation

continuity2 limited Estimated Valuation

continuity2 limited Estimated Valuation

Continuity2 Limited Overview

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CONTINUITY2 LIMITED financials

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