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Performance cycling ltd
Registration Number
03398601Incorporation Date
03/07/1997Last Annual Return
Not availableAddress
Icknield Street Drive, Washford West, Redditch, Worcestershire. B98 0DE
Website
www.wheelies.co.ukAudit Fees
Not availableSecretary
Mr Timothy O'Gorman
Directors
Active
Mr Henry Birch (57 yrs)
Active
Mr Paul O'Hara (48 yrs)
Active
Ms Johanna Ruth Hartley (50 yrs)
| Proposed Year |
|||||
|---|---|---|---|---|---|
| Period Ending | 01-Apr-22 | 31-Mar-23 | 29-Mar-24 | 28-Mar-25 | 27-Mar-26 |
| Weeks | 52 | 52 | 52 | 52 | 52 |
| Total Sales (£000) | 65799 | 61202 | 68069 | 73897 | 75162 |
| Directors Fees | 0 | 0 | 0 | 0 | 0 |
| Gross Profits | 19519 | 16670 | 17539 | 18869 | 19192 |
| Value Added | 10586 | 8079 | 9210 | 10448 | 10657 |
| Trading Profit | 3769 | 1681 | 2341 | 2166 | 3004 |
| Depreciation | 272 | 242 | 250 | 235 | |
| Non-Trading Income | 0 | 0 | 0 | 0 | 0 |
| Total Interest Charges | 0 | 0 | 0 | 0 | 0 |
| Pre-tax Profit | 3497 | 1439 | 2091 | 1931 | 2792 |
| Retained Profit (Shareholders Funds) | 5335 | 1200 | 1583 | -6443 | 1159 |
| Fixed Assets | 1111 | 1020 | 911 | 825 | 784 |
| Intangibles | 2321 | 2670 | 2359 | 2367 | 2249 |
| Intermediate Assets | 0 | 95 | 0 | 0 | 0 |
| Stocks | 11634 | 12598 | 12383 | 13292 | 11266 |
| Debtors | 1342 | 1080 | 886 | 537 | 464 |
| Cash or Equivalent | 11451 | 11146 | 13105 | 8483 | 13160 |
| Total Current Assets | 24427 | 24824 | 26374 | 22312 | 24890 |
| Creditors | 6019 | 6607 | 6590 | 7777 | 9097 |
| Short Term Borrowing | 878 | 375 | 60 | 60 | 0 |
| Other Current Liabilities | 2792 | 2350 | 2136 | 3251 | 3251 |
| Total Current Liabilities | 9689 | 9332 | 8786 | 11088 | 12348 |
| Net Current Assets | 14738 | 15492 | 17588 | 11224 | 12542 |
| Shareholders Funds | 18076 | 19276 | 20859 | 14416 | 15575 |
| Total Loan Capital | 0 | 0 | 0 | 0 | 0 |
| Other Capital Employed | 95 | 0 | 0 | 0 | 0 |
| Total Capital Employed | 18171 | 19276 | 20859 | 14416 | 15575 |
| Pretax Profit Margin % | 5.31 | 2.35 | 3.07 | 2.61 | 3.71 |
| Sales Growth % | -15 | -7 | 11 | 9 | 2 |
| Pretax Profit Growth % | -56 | -59 | 45 | -8 | 45.00 |
| Debtor Ratio Days | 7 | 6 | 5 | 3 | 2.2483700285533 |
| Creditor Ratio Days | 33 | 39 | 35 | 38 | 44.0539155852064 |
| Stock Turnover | 6 | 5 | 5 | 6 | 6.6714113752633 |
| Sales £000 / Employee | 252 | 245 | 309 | 330 | 362.887053571428 |
| Value Added £000/Empl. | 41 | 32 | 42 | 47 | 51.4830917874396 |
| Av. Remun. £000 / Empl. | 26 | 26 | 31 | 37 | 36.9732142857143 |
| Total Empl. Remu. £000 | 6817 | 6398 | 6869 | 8282 | 7653.45535714286 |
| Employees | 261 | 250 | 220 | 224 | 207 |
| Pretax Profit/Total Assets % | 13 | 5 | 7 | 8 | 10 |
Company Summary
- The Plimsoll Chart is falling though its height is ok.
- Total Sales have increased by 8.6% in the latest year, well above the industry average of -3.1%.
- Sales per Employee is £330,000 which is well above the industry average of £192,000.
- The average salary is £37,000 which is well above the industry average of £32,000.
- The company is ranked among the fastest growing in terms of sales growth in the latest year.
- Pretax Profit Margin is 2.6% in the latest year, well above the industry average of -1.7%.
- Shareholders received £8.0m in dividends this year, over 414% of the pretax profits of the company.
- The company is the only Best Trading Partner in this industry (see section 1c).
- The company is among the Top 50 companies listed as a Fastest Growing Company (see section 2.1c).
- The company is among the Top 8 in terms of Trading Profits.
- The company is among the Top 9 Leaders in Efficiency.
- The company is among the Top 50 companies listed under the Pretax Profit Return on Total Assets category (see section 3.4c).
- The company is among the Top 6 in terms of Pretax Profit Return on Owners Funds.
Company Summary
The company currently has £73.9m sales and made £1.9m, by following the proposal plan, sales would be level but profits would rise to £2.8m.
Key Attractiveness Features
- ADD £73.9m TO SALES
- FEW DIRECTORS
- HIGH DIVIDEND
Acquisition Attractiveness Rating
- Low number of shareholders
- Company is privately owned
- Low number of directors
- Sales growth above the industry average
- Low financial rating
- High gross earnings
- Big difference between current and future value
- Directors fees represent high proportion of profits
- Average age of directors is high
Company Valuation
| Proposed Year |
|||||
|---|---|---|---|---|---|
| Period Ending | 01-Apr-22 | 31-Mar-23 | 29-Mar-24 | 28-Mar-25 | 27-Mar-26 |
| Total Sales (£000) | 65799 | 61202 | 68069 | 73897 | 75162 |
| Pre-tax Profit (£000) | 3497 | 1439 | 2091 | 1931 | 2792 |
| Total Value (£000) | 33893 | 24658 | 26994 | 26676 | 28723 |
| Asset Value (£000) | 16408 | 17463 | 16539 | 17021 | 14763 |
| Goodwill (£000) | 17485 | 7195 | 10455 | 9655 | 13960 |
| Liabilities (£000) | 1667 | 1814 | 4319 | -2605 | 812 |
| Equity Value (£000) | 35560 | 26472 | 31313 | 24071 | 29535 |
Total Value Formula: (Pretax Profit + Interest Payments - Non Trading Income + Directors Fees) * 5 plus (Fixed Assets + Intangibles + Intermediate Assets + Stocks + Debtors)
Shareholders / Ownership
PERFORMANCE CYCLING HOLDINGS LTD (100.0%)
Immediate Shareholder: See Shareholders
Subsidiaries
TREDZ LTD
Acquisition / Valuation Comments
This company has been established 29 years.
The number of shareholders is low (1).
The value of the company has fluctuated in the last 2 years.
The total value of the company is currently £26.7m including debts.
The equity value is high, indicating low levels of total liabilities.
The company value is small in comparison to its sales.
The proposed year is based on achieving a 10% return on total assets.
The proposed plan would improve the overall financial strength of the company by 12%.
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