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Smith and byford ltd
Registration Number
01074356Incorporation Date
29/09/1972Last Annual Return
Not availableAddress
St. Georges House, Station Approach, Sutton, Surrey. SM2 7AT
Website
www.smithandbyford.comAudit Fees
£27,000Secretary
Ms Paula McLachlan
Directors
Active
Mr Brian Grove (63 yrs)
Active
Ms Paula McLachlan (56 yrs)
Active
Mr William Smith (83 yrs)
Active
Mr William Smith (59 yrs)
Active
Ms Melanie Jane Herridge (41 yrs)
Active
Mr David Ovington (54 yrs)
Active
Mr William Smith (59 yrs)
Active
Ms Hazel Rosemary Dawn Smith (84 yrs)
| Proposed Year |
|||||
|---|---|---|---|---|---|
| Period Ending | 31-Mar-22 | 31-Mar-23 | 31-Mar-24 | 31-Mar-25 | 30-Mar-26 |
| Weeks | 52 | 52 | 52 | 52 | 52 |
| Total Sales (£000) | 38056 | 42226 | 53332 | 58529 | 65373 |
| Directors Fees | 467 | 519 | 535 | 370 | 444 |
| Gross Profits | 14359 | 16103 | 20952 | 23849 | 26638 |
| Value Added | 16987 | 19832 | 24645 | 28884 | 32177 |
| Trading Profit | 1925 | 2763 | 5691 | 6516 | 9452 |
| Depreciation | 78 | 91 | 9 | 101 | |
| Non-Trading Income | 0 | 0 | 37 | 130 | 0 |
| Total Interest Charges | 66 | 96 | 82 | 48 | 58 |
| Pre-tax Profit | 1781 | 2576 | 5637 | 6497 | 9273 |
| Retained Profit (Shareholders Funds) | 1133 | 2018 | 3708 | 3494 | 3898 |
| Fixed Assets | 1580 | 3790 | 3769 | 3727 | 4472 |
| Intangibles | 0 | 0 | 0 | 0 | 0 |
| Intermediate Assets | 5213 | 3007 | 3161 | 3226 | 3871 |
| Stocks | 1215 | 1355 | 1614 | 2033 | 2271 |
| Debtors | 8887 | 7380 | 9764 | 8691 | 9707 |
| Cash or Equivalent | 2364 | 5881 | 7913 | 10818 | 14025 |
| Total Current Assets | 12466 | 14616 | 19291 | 21542 | 26003 |
| Creditors | 3302 | 3126 | 3642 | 3526 | 4529 |
| Short Term Borrowing | 109 | 123 | 313 | 11 | 0 |
| Other Current Liabilities | 2399 | 2669 | 4242 | 4640 | 5568 |
| Total Current Liabilities | 5810 | 5918 | 8197 | 8177 | 10097 |
| Net Current Assets | 6656 | 8698 | 11094 | 13365 | 15906 |
| Shareholders Funds | 10845 | 12863 | 16571 | 20065 | 23963 |
| Total Loan Capital | 2581 | 2498 | 1271 | 14 | 0 |
| Other Capital Employed | 22 | 135 | 183 | 238 | 286 |
| Total Capital Employed | 13448 | 15496 | 18025 | 20317 | 24249 |
| Pretax Profit Margin % | 4.68 | 6.1 | 10.57 | 11.1 | 14.18 |
| Sales Growth % | 24 | 11 | 26 | 10 | 12 |
| Pretax Profit Growth % | -14 | 45 | 119 | 15 | 43.00 |
| Debtor Ratio Days | 85 | 64 | 67 | 54 | 54.0505390490184 |
| Creditor Ratio Days | 32 | 27 | 25 | 22 | 25.2179876642348 |
| Stock Turnover | 31 | 31 | 33 | 29 | 28.7894736842105 |
| Sales £000 / Employee | 105 | 113 | 126 | 134 | 146.990639269407 |
| Value Added £000/Empl. | 47 | 53 | 58 | 66 | 72.3078651685393 |
| Av. Remun. £000 / Empl. | 41 | 46 | 45 | 51 | 51.0684931506849 |
| Total Empl. Remu. £000 | 15062 | 17069 | 18954 | 22368 | 22725.4794520548 |
| Employees | 363 | 373 | 424 | 438 | 445 |
| Pretax Profit/Total Assets % | 9 | 12 | 21 | 23 | 27 |
Company Summary
- The Plimsoll Chart is high and rising indicating an improvement in financial strength, well above the industry average.
- Total Sales have increased by 9.7% in the latest year, well above the industry average of 4.5%.
- The company lies an excellent 4th in terms of Pretax Profits in this industry.
- Gross Profit Margin is 40.8% in the latest year, well above the industry average of 21.1%.
- The company is ranked among the fastest growing in terms of sales growth in the latest year.
- The company has consistently improved pretax profits over the last 4 years. Only 15 other companies achieved this.
- Pretax Profit Margin is 11.1% in the latest year, well above the industry average of 4.1%.
- Formal debt of the company has decreased by £1.6m, a fall of 98%.
- The Profitability chart shows a well above average pretax profit return on total assets in the latest year.
- The company is among the Top 18 companies listed as a Best Trading Partner (see section 1c).
- The company is among the Top 7 in terms of Value Added.
- The company is among the Top 30 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).
Company Summary
The company currently has £58.5m sales and made £6.5m, by following the proposal plan, sales would rise to £65.4m and profits would rise to £9.3m.
Key Attractiveness Features
- PRIVATELY OWNED
- ADD £58.5m TO SALES
- ATTRACTIVE PRICE
- 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 | 31-Mar-22 | 31-Mar-23 | 31-Mar-24 | 31-Mar-25 | 30-Mar-26 |
| Total Sales (£000) | 38056 | 42226 | 53332 | 58529 | 65373 |
| Pre-tax Profit (£000) | 1781 | 2576 | 5637 | 6497 | 9273 |
| Total Value (£000) | 28465 | 31487 | 49393 | 51602 | 69196 |
| Asset Value (£000) | 16895 | 15532 | 18308 | 17677 | 20321 |
| Goodwill (£000) | 11570 | 15955 | 31085 | 33925 | 48875 |
| Liabilities (£000) | -6049 | -2670 | -1738 | 2389 | 3642 |
| Equity Value (£000) | 22416 | 28817 | 47655 | 53991 | 72838 |
Total Value Formula: (Pretax Profit + Interest Payments - Non Trading Income + Directors Fees) * 5 plus (Fixed Assets + Intangibles + Intermediate Assets + Stocks + Debtors)
Shareholders / Ownership
MR WILLIAM SMITH (40.0%)
THE WILLIAM SMITH DISCRETIONARY SETTLEMENT (20.0%)
THE MRS HAZEL SMITH DISCRETIONARY TRUST (20.0%)
MRS HAZEL ROSEMARY SMITH (20.0%)
Immediate Shareholder: See Shareholders
Subsidiaries
SILENT WATER LTD
Acquisition / Valuation Comments
This company has been established 54 years.
2 directors are over 70 years of age.
The value of the company has risen in each of the last 2 years.
The total value of the company is currently £51.6m including debts.
The equity value is high, indicating low levels of total liabilities.
This company is rated HIGHLY ATTRACTIVE in terms of attractiveness.
The proposed year is based on achieving a 27% return on total assets.
The company's value would increase by 34% if the proposed business plan was followed.
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