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City electrical factors ltd
Registration Number
00336408Incorporation Date
02/02/1938Last Annual Return
Not availableAddress
Unit 1-6, Georgina Mackie House, Kenilworth, Warwickshire. CV8 2SU
Website
www.cef.co.ukAudit Fees
£151,000Secretary
Mr Mark Stephen Jacobs
Directors
Active
Mr Christopher Martin Ashworth (59 yrs)
Active
Mr Philip Flaherty (54 yrs)
Active
Mr Mark Stephen Jacobs (65 yrs)
Active
Mr Jeremy Peter Saunders (51 yrs)
Active
Mr Kevin Alan David Barnett (70 yrs)
Active
Ms Linda Hanley (55 yrs)
Active
Mr Adrian Leonard Rees (54 yrs)
| Proposed Year |
|||||
|---|---|---|---|---|---|
| Period Ending | 30-Apr-21 | 30-Apr-22 | 30-Apr-23 | 30-Apr-24 | 29-Apr-25 |
| Weeks | 52 | 52 | 52 | 52 | 52 |
| Total Sales (£000) | 711457 | 889552 | 1082229 | 1162982 | 1180338 |
| Directors Fees | 2739 | 5621 | 5724 | 8003 | 8003 |
| Gross Profits | 222209 | 273267 | 321105 | 338763 | 343819 |
| Value Added | 186368 | 216414 | 237367 | 237777 | 253537 |
| Trading Profit | 52564 | 55919 | 51441 | 37926 | 69143 |
| Depreciation | 4743 | 4807 | 6505 | 8359 | |
| Non-Trading Income | 3189 | 3180 | 10532 | 12296 | 0 |
| Total Interest Charges | 1607 | 2592 | 8747 | 13550 | 12195 |
| Pre-tax Profit | 49403 | 51700 | 46721 | 28313 | 49425 |
| Retained Profit (Shareholders Funds) | 42083 | 12689 | 15068 | -9513 | 16988 |
| Fixed Assets | 39087 | 50054 | 71597 | 76495 | 72670 |
| Intangibles | 594 | 1173 | 1385 | 1908 | 1813 |
| Intermediate Assets | 0 | 0 | 0 | 0 | 0 |
| Stocks | 111461 | 139609 | 193382 | 178111 | 150641 |
| Debtors | 120867 | 151832 | 184719 | 180283 | 155527 |
| Cash or Equivalent | 184640 | 230782 | 228276 | 214960 | 113598 |
| Total Current Assets | 416968 | 522223 | 606377 | 573354 | 419766 |
| Creditors | 74317 | 88801 | 124147 | 127094 | 148339 |
| Short Term Borrowing | 91788 | 33148 | 37838 | 14463 | 0 |
| Other Current Liabilities | 60128 | 86185 | 97085 | 83309 | 83309 |
| Total Current Liabilities | 226233 | 208134 | 259070 | 224866 | 231648 |
| Net Current Assets | 190735 | 314089 | 347307 | 348488 | 188118 |
| Shareholders Funds | 225565 | 238254 | 253322 | 243809 | 260797 |
| Total Loan Capital | 2636 | 124466 | 164835 | 181277 | 0 |
| Other Capital Employed | 2216 | 2596 | 2132 | 1804 | 1804 |
| Total Capital Employed | 230417 | 365316 | 420289 | 426890 | 262601 |
| Pretax Profit Margin % | 6.94 | 5.81 | 4.32 | 2.43 | 4.19 |
| Sales Growth % | 23 | 25 | 22 | 7 | 1 |
| Pretax Profit Growth % | 321 | 5 | -10 | -39 | 75.00 |
| Debtor Ratio Days | 62 | 62 | 62 | 56 | 47.9625309764038 |
| Creditor Ratio Days | 38 | 36 | 42 | 40 | 45.7458055240752 |
| Stock Turnover | 6 | 6 | 6 | 7 | 7.8354419435071 |
| Sales £000 / Employee | 267 | 307 | 346 | 334 | 366.871293375395 |
| Value Added £000/Empl. | 70 | 75 | 76 | 68 | 78.8040964880124 |
| Av. Remun. £000 / Empl. | 50 | 55 | 59 | 57 | 57.3131631775165 |
| Total Empl. Remu. £000 | 133804 | 160495 | 185926 | 199851 | 184394.061985705 |
| Employees | 2662 | 2893 | 3130 | 3487 | 3217.30736470747 |
| Pretax Profit/Total Assets % | 11 | 9 | 7 | 4 | 10 |
Company Summary
- The Plimsoll Chart is falling though its height is ok.
- Total Sales have increased by 7.5% in the latest year, well above the industry average of 1.4%.
- The company lies an excellent 2nd in terms of Total Sales in this industry.
- The company lies an excellent 2nd in terms of Pretax Profits in this industry.
- Gross Profit Margin is 29.1% in the latest year, well above the industry average of 25.4%.
- The average salary is £57,000 which is well above the industry average of £41,000.
- The company is ranked among the fastest growing in terms of sales growth in the latest year.
- Shareholders received £30.0m in dividends this year, over 106% of the pretax profits of the company.
- Non Trading Income of £12.3m makes a large contribution to pretax profits of £28.3m.
- The company would have made a significantly higher profit but for interest payments of £13.6m.
- The company is among the Top 10 companies listed as a Best Trading Partner (see section 1c).
- The company is among the Top 60 companies listed under the Gross Profits category (see section 3.1c).
Company Summary
The company currently has £1bn sales and made £28.3m, by following the proposal plan, sales would be level but profits would rise to £49.4m.
Key Attractiveness Features
- ADD £1bn TO SALES
- HIGH INTEREST PAYMENTS
- 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 | 30-Apr-21 | 30-Apr-22 | 30-Apr-23 | 30-Apr-24 | 29-Apr-25 |
| Total Sales (£000) | 711457 | 889552 | 1082229 | 1162982 | 1180338 |
| Pre-tax Profit (£000) | 49403 | 51700 | 46721 | 28313 | 49425 |
| Total Value (£000) | 524809 | 626333 | 704383 | 624647 | 728766 |
| Asset Value (£000) | 272009 | 342668 | 451083 | 436797 | 380651 |
| Goodwill (£000) | 252800 | 283665 | 253300 | 187850 | 348115 |
| Liabilities (£000) | -46445 | -104414 | -197761 | -192987 | -119854 |
| Equity Value (£000) | 478364 | 521919 | 506622 | 431660 | 608912 |
Total Value Formula: (Pretax Profit + Interest Payments - Non Trading Income + Directors Fees) * 5 plus (Fixed Assets + Intangibles + Intermediate Assets + Stocks + Debtors)
Shareholders / Ownership
CITY ELECTRIC GROUP LTD (100.0%)
Immediate Shareholder: See Shareholders
Subsidiaries
VIKING PARK (MANAGEMENT) LTD
WESTERN ROAD PROPERTY MANAGEMENT LTD
Acquisition / Valuation Comments
This company has been established 87 years.
The number of shareholders is low (1)
2 directors are over 60 years of age.
The total value of the company is currently £624.6m including debts.
The equity value, after deducting debts is £432m.
The company value is small in comparison to its sales.
The proposed year is based on achieving a 10% return on total assets.
The company's value would increase by 17% if the proposed business plan was followed.
The proposed plan would improve the overall financial strength of the company by 24%.
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