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Midcontinent (aberdeen) ltd
Registration Number
02379750Incorporation Date
04/05/1989Last Annual Return
Not availableAddress
c/o Azets Wynyard Park House, Wynyard Avenue, Billingham, Cleveland. TS22 5TB
Website
www.midcontinent.co.ukAudit Fees
£25,000Secretary
Not available
Directors
Active
Mr John Graham Binns (46 yrs)
Active
Mr Keith Leslie James Mowat (63 yrs)
Active
Mr Brian David Knappett (82 yrs)
| Proposed Year |
|||||
|---|---|---|---|---|---|
| Period Ending | 30-Sep-21 | 30-Sep-22 | 30-Sep-23 | 30-Sep-24 | 29-Sep-25 |
| Weeks | 52 | 52 | 52 | 52 | 52 |
| Total Sales (£000) | 11014 | 16582 | 19424 | 20600 | 21972 |
| Directors Fees | 138 | 139 | 267 | 385 | 424 |
| Gross Profits | 1919 | 2169 | 2518 | 2733 | 2915 |
| Value Added | 1395 | 2002 | 2334 | 2447 | 2794 |
| Trading Profit | 652 | 1126 | 1283 | 1077 | 1481 |
| Depreciation | 52 | 49 | 50 | 54 | |
| Non-Trading Income | 0 | 0 | 3 | 8 | 0 |
| Total Interest Charges | 0 | 0 | 1 | 2 | 2 |
| Pre-tax Profit | 600 | 1077 | 1235 | 1029 | 1420 |
| Retained Profit (Shareholders Funds) | -2846 | 348 | 213 | -300 | 617 |
| Fixed Assets | 786 | 737 | 723 | 708 | 779 |
| Intangibles | 0 | 0 | 0 | 0 | 0 |
| Intermediate Assets | 0 | 0 | 0 | 0 | 0 |
| Stocks | 525 | 687 | 782 | 618 | 659 |
| Debtors | 2380 | 3580 | 3147 | 2607 | 2781 |
| Cash or Equivalent | 1289 | 986 | 2412 | 3338 | 4133 |
| Total Current Assets | 4194 | 5253 | 6341 | 6563 | 7573 |
| Creditors | 661 | 930 | 1490 | 1663 | 2040 |
| Short Term Borrowing | 0 | 0 | 12 | 23 | 0 |
| Other Current Liabilities | 307 | 701 | 965 | 1298 | 1428 |
| Total Current Liabilities | 968 | 1631 | 2467 | 2984 | 3468 |
| Net Current Assets | 3226 | 3622 | 3874 | 3579 | 4105 |
| Shareholders Funds | 4006 | 4354 | 4567 | 4267 | 4884 |
| Total Loan Capital | 0 | 0 | 18 | 20 | 0 |
| Other Capital Employed | 6 | 5 | 12 | 0 | 0 |
| Total Capital Employed | 4012 | 4359 | 4597 | 4287 | 4884 |
| Pretax Profit Margin % | 5.45 | 6.49 | 6.36 | 5 | 6.46 |
| Sales Growth % | -7 | 51 | 17 | 6 | 7 |
| Pretax Profit Growth % | -23 | 80 | 15 | -17 | 38.00 |
| Debtor Ratio Days | 79 | 79 | 59 | 46 | 46.0654368932039 |
| Creditor Ratio Days | 22 | 20 | 28 | 29 | 33.7928058252427 |
| Stock Turnover | 21 | 24 | 25 | 33 | 33.3333333333333 |
| Sales £000 / Employee | 551 | 790 | 925 | 858 | 944.166666666666 |
| Value Added £000/Empl. | 70 | 95 | 111 | 102 | 121.478260869565 |
| Av. Remun. £000 / Empl. | 37 | 42 | 50 | 57 | 57.0833333333333 |
| Total Empl. Remu. £000 | 743 | 876 | 1051 | 1370 | 1312.91666666667 |
| Employees | 20 | 21 | 21 | 24 | 23 |
| Pretax Profit/Total Assets % | 12 | 18 | 17 | 14 | 17 |
Company Summary
- The Plimsoll Chart lies above the scale indicating financial strength, well above the industry average.
- The Plimsoll Chart is falling though its height is ok.
- Total Sales have increased by 6.1% in the latest year, well above the industry average of -8.9%.
- Sales per Employee is £858,000 which is well above the industry average of £254,000.
- The company is ranked among the fastest growing in terms of sales growth in the latest year.
- Exports contribute 13% towards the Total Sales of the company.
- The £385,000 directors fees figure disclosed significantly affects the profitability of the company.
- Formal debt of the company has increased by £13,000, a rise of 43%.
- The Trading Stability chart shows a well above average sales return on total assets in the latest year
- The Profitability chart shows a well above average pretax profit return on total assets in the latest year.
- 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 6 in terms of Trading Profits.
- The company is among the Top 5 Leaders in Efficiency.
Company Summary
The company currently has £20.6m sales and made £1.0m, by following the proposal plan, sales would rise to £22.0m and profits would rise to £1.4m.
Key Attractiveness Features
- ADD £20.6m TO SALES
- FEW DIRECTORS
- HIGH AVERAGE AGE
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 | 30-Sep-21 | 30-Sep-22 | 30-Sep-23 | 30-Sep-24 | 29-Sep-25 |
| Total Sales (£000) | 11014 | 16582 | 19424 | 20600 | 21972 |
| Pre-tax Profit (£000) | 600 | 1077 | 1235 | 1029 | 1420 |
| Total Value (£000) | 7381 | 11084 | 12152 | 10973 | 13449 |
| Asset Value (£000) | 3691 | 5004 | 4652 | 3933 | 4219 |
| Goodwill (£000) | 3690 | 6080 | 7500 | 7040 | 9230 |
| Liabilities (£000) | 315 | -650 | -85 | 334 | 665 |
| Equity Value (£000) | 7696 | 10434 | 12067 | 11307 | 14114 |
Total Value Formula: (Pretax Profit + Interest Payments - Non Trading Income + Directors Fees) * 5 plus (Fixed Assets + Intangibles + Intermediate Assets + Stocks + Debtors)
Shareholders / Ownership
MIDCONTINENT (ABERDEEN) LTD EMPLOYEE OWNED TRUST (100.0%)
Immediate Shareholder: See Shareholders
Subsidiaries
None
Acquisition / Valuation Comments
This company has been established 37 years.
The number of shareholders is low (1).
1 director is over 70 years of age.
The value of the company has fluctuated in the last 2 years.
The total value of the company is currently £11.0m 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 17% return on total assets.
The company's value would increase by 23% if the proposed business plan was followed.
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