hireway rentals ltd
hireway rentals ltd Company Information
Company Number
SC539706
Website
-Registered Address
unit d2 north caldeen road, coatbridge, ML5 4EF
Industry
Renting and leasing of cars and light motor vehicles
Telephone
01698373000
Next Accounts Due
159 days late
Group Structure
View All
Shareholders
reflex vehicle hire limited 100%
hireway rentals ltd Estimated Valuation
Pomanda estimates the enterprise value of HIREWAY RENTALS LTD at £3m based on a Turnover of £3.8m and 0.8x industry multiple (adjusted for size and gross margin).
hireway rentals ltd Estimated Valuation
Pomanda estimates the enterprise value of HIREWAY RENTALS LTD at £10.2m based on an EBITDA of £4.1m and a 2.46x industry multiple (adjusted for size and gross margin).
hireway rentals ltd Estimated Valuation
Pomanda estimates the enterprise value of HIREWAY RENTALS LTD at £4.2m based on Net Assets of £1.9m and 2.26x industry multiple (adjusted for liquidity).
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Hireway Rentals Ltd Overview
Hireway Rentals Ltd is a live company located in coatbridge, ML5 4EF with a Companies House number of SC539706. It operates in the renting and leasing of cars and light motor vehicles sector, SIC Code 77110. Founded in July 2016, it's largest shareholder is reflex vehicle hire limited with a 100% stake. Hireway Rentals Ltd is a young, small sized company, Pomanda has estimated its turnover at £3.8m with high growth in recent years.
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Hireway Rentals Ltd Health Check
Pomanda's financial health check has awarded Hireway Rentals Ltd a 4 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
3 Strong
3 Regular
5 Weak
Size
annual sales of £3.8m, make it smaller than the average company (£5m)
- Hireway Rentals Ltd
£5m - Industry AVG
Growth
3 year (CAGR) sales growth of 27%, show it is growing at a faster rate (3.9%)
- Hireway Rentals Ltd
3.9% - Industry AVG
Production
with a gross margin of 32.7%, this company has a comparable cost of product (32.7%)
- Hireway Rentals Ltd
32.7% - Industry AVG
Profitability
an operating margin of 33.3% make it more profitable than the average company (11.6%)
- Hireway Rentals Ltd
11.6% - Industry AVG
Employees
with 9 employees, this is below the industry average (31)
9 - Hireway Rentals Ltd
31 - Industry AVG
Pay Structure
on an average salary of £39k, the company has an equivalent pay structure (£39k)
- Hireway Rentals Ltd
£39k - Industry AVG
Efficiency
resulting in sales per employee of £420.3k, this is more efficient (£238.4k)
- Hireway Rentals Ltd
£238.4k - Industry AVG
Debtor Days
it gets paid by customers after 77 days, this is later than average (41 days)
- Hireway Rentals Ltd
41 days - Industry AVG
Creditor Days
its suppliers are paid after 18 days, this is quicker than average (30 days)
- Hireway Rentals Ltd
30 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- Hireway Rentals Ltd
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 3 weeks, this is less cash available to meet short term requirements (6 weeks)
3 weeks - Hireway Rentals Ltd
6 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 87.1%, this is a similar level of debt than the average (79.2%)
87.1% - Hireway Rentals Ltd
79.2% - Industry AVG
HIREWAY RENTALS LTD financials
Hireway Rentals Ltd's latest turnover from July 2022 is estimated at £3.8 million and the company has net assets of £1.9 million. According to their latest financial statements, Hireway Rentals Ltd has 9 employees and maintains cash reserves of £270 thousand as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Jul 2022 | Jul 2021 | Jul 2020 | Jul 2019 | Jul 2018 | Jul 2017 | |
|---|---|---|---|---|---|---|
| Turnover | ||||||
| Other Income Or Grants | ||||||
| Cost Of Sales | ||||||
| Gross Profit | ||||||
| Admin Expenses | ||||||
| Operating Profit | ||||||
| Interest Payable | ||||||
| Interest Receivable | ||||||
| Pre-Tax Profit | ||||||
| Tax | ||||||
| Profit After Tax | ||||||
| Dividends Paid | ||||||
| Retained Profit | ||||||
| Employee Costs | ||||||
| Number Of Employees | 9 | 8 | 7 | 4 | 3 | 1 |
| EBITDA* |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Jul 2022 | Jul 2021 | Jul 2020 | Jul 2019 | Jul 2018 | Jul 2017 | |
|---|---|---|---|---|---|---|
| Tangible Assets | 13,067,415 | 11,569,088 | 6,580,873 | 5,061,427 | 3,997,528 | 728,507 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 13,067,415 | 11,569,088 | 6,580,873 | 5,061,427 | 3,997,528 | 728,507 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 804,423 | 651,164 | 408,018 | 366,272 | 281,865 | 2,962 |
| Group Debtors | 0 | 0 | 0 | 0 | 0 | 0 |
| Misc Debtors | 305,605 | 197,533 | 57,612 | 123,318 | 64,370 | 76,660 |
| Cash | 270,000 | 200,000 | 234,547 | 100 | 100,545 | 174,722 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 1,380,028 | 1,048,697 | 700,177 | 489,690 | 446,780 | 254,344 |
| total assets | 14,447,443 | 12,617,785 | 7,281,050 | 5,551,117 | 4,444,308 | 982,851 |
| Bank overdraft | 107,395 | 109,826 | 1,775 | 26,598 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 130,167 | 162,277 | 95,808 | 89,128 | 15,433 | 31,491 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 |
| other short term finances | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 34,348 | 70,150 | 0 |
| other current liabilities | 4,291,885 | 4,669,609 | 3,321,288 | 2,332,546 | 1,957,986 | 506,291 |
| total current liabilities | 4,529,447 | 4,941,712 | 3,418,871 | 2,482,620 | 2,043,569 | 537,782 |
| loans | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 22,899 | 111,071 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 7,350,605 | 6,481,317 | 3,549,172 | 2,651,318 | 2,206,540 | 474,498 |
| provisions | 695,989 | 340,956 | 80,900 | 81,420 | 54,739 | 25,339 |
| total long term liabilities | 8,046,594 | 6,822,273 | 3,630,072 | 2,755,637 | 2,372,350 | 499,837 |
| total liabilities | 12,576,041 | 11,763,985 | 7,048,943 | 5,238,257 | 4,415,919 | 1,037,619 |
| net assets | 1,871,402 | 853,800 | 232,107 | 312,860 | 28,389 | -54,768 |
| total shareholders funds | 1,871,402 | 853,800 | 232,107 | 312,860 | 28,389 | -54,768 |
| Jul 2022 | Jul 2021 | Jul 2020 | Jul 2019 | Jul 2018 | Jul 2017 | |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Operating Profit | ||||||
| Depreciation | 2,887,186 | 2,222,263 | 1,494,598 | 1,035,054 | 579,300 | 188,860 |
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 |
| Tax | ||||||
| Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors | 261,331 | 383,067 | -23,960 | 143,355 | 266,613 | 79,622 |
| Creditors | -32,110 | 66,469 | 6,680 | 73,695 | -16,058 | 31,491 |
| Accruals and Deferred Income | -377,724 | 1,348,321 | 988,742 | 374,560 | 1,451,695 | 506,291 |
| Deferred Taxes & Provisions | 355,033 | 260,056 | -520 | 26,681 | 29,400 | 25,339 |
| Cash flow from operations | ||||||
| Investing Activities | ||||||
| capital expenditure | ||||||
| Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | ||||||
| Financing Activities | ||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Short Term Loans | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | 0 | 0 | 0 | 0 | 0 | 0 |
| Hire Purchase and Lease Commitments | 0 | 0 | -57,247 | -123,974 | 181,221 | 0 |
| other long term liabilities | 869,288 | 2,932,145 | 897,854 | 444,778 | 1,732,042 | 474,498 |
| share issue | ||||||
| interest | ||||||
| cash flow from financing | ||||||
| cash and cash equivalents | ||||||
| cash | 70,000 | -34,547 | 234,447 | -100,445 | -74,177 | 174,722 |
| overdraft | -2,431 | 108,051 | -24,823 | 26,598 | 0 | 0 |
| change in cash | 72,431 | -142,598 | 259,270 | -127,043 | -74,177 | 174,722 |
hireway rentals ltd Credit Report and Business Information
Hireway Rentals Ltd Competitor Analysis
Perform a competitor analysis for hireway rentals ltd by selecting its closest rivals, whether from the ADMINISTRATIVE AND SUPPORT SERVICE ACTIVITIES sector, other small companies, companies in ML5 area or any other competitors across 12 key performance metrics.
hireway rentals ltd Ownership
HIREWAY RENTALS LTD group structure
Hireway Rentals Ltd has no subsidiary companies.
Ultimate parent company
FANNING INVESTMENT HOLDINGS LTD
#0030845
2 parents
HIREWAY RENTALS LTD
SC539706
hireway rentals ltd directors
Hireway Rentals Ltd currently has 2 directors. The longest serving directors include Ms Lisa Spong (May 2023) and Mr Oliver Waring (May 2023).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Ms Lisa Spong | England | 46 years | May 2023 | - | Director |
| Mr Oliver Waring | 52 years | May 2023 | - | Director |
P&L
July 2022turnover
3.8m
+21%
operating profit
1.3m
0%
gross margin
32.7%
+30.24%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
July 2022net assets
1.9m
+1.19%
total assets
14.4m
+0.15%
cash
270k
+0.35%
net assets
Total assets minus all liabilities
hireway rentals ltd company details
company number
SC539706
Type
Private limited with Share Capital
industry
77110 - Renting and leasing of cars and light motor vehicles
incorporation date
July 2016
age
8
incorporated
UK
accounts
Total Exemption Full
ultimate parent company
previous names
N/A
last accounts submitted
July 2022
address
unit d2 north caldeen road, coatbridge, ML5 4EF
accountant
-
auditor
-
hireway rentals ltd 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 hireway rentals ltd. Currently there are 0 open charges and 4 have been satisfied in the past.
hireway rentals ltd Companies House Filings - See Documents
| date | description | view/download |
|---|
