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Creed foodservice ltd
Registration Number
01065559Incorporation Date
11/08/1972Last Annual Return
Not availableAddress
Unit S3, Narvik Way, North Shields, Tyne And Wear. NE29 7XJ
Website
www.creedfoodservice.co.ukAudit Fees
£33,000Secretary
Mr David Leonard Brind
Directors
Active
Mr David Leonard Brind (52 yrs)
Active
Mr Christopher Simon Creed (61 yrs)
Active
Ms Kirstin Nicola Hawkins
Active
Mr Ben Maxted (41 yrs)
Active
Ms Kirsty Cooper (45 yrs)
Active
Mr Philip De Ternant (63 yrs)
Active
Mr Martin Holmes (60 yrs)
Active
Mr Steve Thomas Rich (60 yrs)
| Proposed Year |
|||||
|---|---|---|---|---|---|
| Period Ending | 26-Dec-20 | 25-Dec-21 | 31-Dec-22 | 30-Dec-23 | 28-Dec-24 |
| Weeks | 52 | 52 | 53 | 52 | 52 |
| Total Sales (£000) | 48338 | 64669 | 101418 | 124169 | 146519 |
| Directors Fees | 961 | 897 | 981 | 1061 | 1273 |
| Gross Profits | 14015 | 18879 | 29924 | 35703 | 42130 |
| Value Added | 10867 | 14372 | 20906 | 26074 | 31052 |
| Trading Profit | 532 | 3203 | 5887 | 9126 | 12871 |
| Depreciation | 1109 | 846 | 893 | 1244 | |
| Non-Trading Income | 0 | 6 | 10 | 134 | 0 |
| Total Interest Charges | 205 | 164 | 149 | 202 | 242 |
| Pre-tax Profit | -782 | 2199 | 4855 | 7814 | 11136 |
| Retained Profit (Shareholders Funds) | -1066 | 1193 | 2128 | 4544 | 4688 |
| Fixed Assets | 6809 | 6189 | 8258 | 9196 | 11035 |
| Intangibles | 165 | 145 | 123 | 103 | 124 |
| Intermediate Assets | 1 | 1 | 0 | 0 | 0 |
| Stocks | 2829 | 5024 | 5759 | 5267 | 6215 |
| Debtors | 4813 | 9465 | 9543 | 12095 | 14272 |
| Cash or Equivalent | 2954 | 3131 | 6634 | 10340 | 12899 |
| Total Current Assets | 10596 | 17620 | 21936 | 27702 | 33386 |
| Creditors | 4467 | 9131 | 11459 | 12753 | 17306 |
| Short Term Borrowing | 1015 | 1492 | 638 | 780 | 0 |
| Other Current Liabilities | 4534 | 5002 | 6536 | 6996 | 8395 |
| Total Current Liabilities | 10016 | 15625 | 18633 | 20529 | 25701 |
| Net Current Assets | 580 | 1995 | 3303 | 7173 | 7685 |
| Shareholders Funds | 5518 | 6711 | 8839 | 13383 | 18071 |
| Total Loan Capital | 1868 | 1374 | 2363 | 2444 | 0 |
| Other Capital Employed | 169 | 245 | 482 | 644 | 773 |
| Total Capital Employed | 7555 | 8330 | 11684 | 16471 | 18844 |
| Pretax Profit Margin % | -1.62 | 3.4 | 4.79 | 6.29 | 7.6 |
| Sales Growth % | -41 | 34 | 57 | 22 | 18 |
| Pretax Profit Growth % | -139 | 381 | 121 | 61 | 42.51 |
| Debtor Ratio Days | 36 | 53 | 35 | 35 | 35.4563538403305 |
| Creditor Ratio Days | 34 | 51 | 42 | 37 | 42.9930642914092 |
| Stock Turnover | 17 | 13 | 18 | 24 | 23.5749003227644 |
| Sales £000 / Employee | 145 | 203 | 255 | 289 | 317.641627906977 |
| Value Added £000/Empl. | 33 | 45 | 53 | 61 | 67.3180922349232 |
| Av. Remun. £000 / Empl. | 31 | 35 | 38 | 39 | 39.4139534883721 |
| Total Empl. Remu. £000 | 10335 | 11169 | 15019 | 16948 | 18180.5818181818 |
| Employees | 334 | 318 | 397 | 430 | 461.272727272727 |
| Pretax Profit/Total Assets % | -4 | 9 | 16 | 21 | 25 |
Company Summary
- The Plimsoll Chart is high and rising indicating an improvement in financial strength, in line with the industry average.
- Total Sales have increased by 22.4% in the latest year, well above the industry average of 7.1%.
- Gross Profit Margin is 28.8% in the latest year, well above the industry average of 20.4%.
- The average salary is £39,000 which is well above the industry average of £36,000.
- The company is ranked among the fastest growing in terms of sales growth in the latest year.
- Pretax Profit Margin is 6.3% in the latest year, well above the industry average of 3.3%.
- Pretax Profit Margin has markedly improved from 4.8% to 6.3% 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 among the Top 24 companies listed as a Best Trading Partner (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 35 in terms of Trading Profits.
- The company is among the Top 60 companies listed under the Gross Profits category (see section 3.1c).
- 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 135 companies listed under the Pretax Profits category (see section 3.2c).
Company Summary
The company currently has £124m sales and made £7.8m, by following the proposal plan, sales would rise to £147m and profits would rise to £11.1m.
Key Attractiveness Features
- ADD £124m TO SALES
- ATTRACTIVE PRICE
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 | 26-Dec-20 | 25-Dec-21 | 31-Dec-22 | 30-Dec-23 | 28-Dec-24 |
| Total Sales (£000) | 48338 | 64669 | 101418 | 124169 | 146519 |
| Pre-tax Profit (£000) | -782 | 2199 | 4855 | 7814 | 11136 |
| Total Value (£000) | 16537 | 37094 | 53558 | 71376 | 94901 |
| Asset Value (£000) | 14617 | 20824 | 23683 | 26661 | 31646 |
| Goodwill (£000) | 1920 | 16270 | 29875 | 44715 | 63255 |
| Liabilities (£000) | -9099 | -14113 | -14844 | -13277 | -13575 |
| Equity Value (£000) | 7438 | 22981 | 38714 | 58099 | 81326 |
Total Value Formula: (Pretax Profit + Interest Payments - Non Trading Income + Directors Fees) * 5 plus (Fixed Assets + Intangibles + Intermediate Assets + Stocks + Debtors)
Shareholders / Ownership
CREED CATERING SUPPLIES LTD (100.0%)
Immediate Shareholder: See Shareholders
Subsidiaries
None
Acquisition / Valuation Comments
This company has been established 53 years.
The number of shareholders is low (1)
2 directors are over 60 years of age.
The value of the company has risen in each of the last 2 years.
The value of the company has fluctuated in the last 2 years.
The total value of the company is currently £71.4m 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 25% return on total assets.
The company's value would increase by 33% if the proposed business plan was followed.
The proposed plan would improve the overall financial strength of the company by 15%.
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