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Premier foods wholesale ltd
Registration Number
04398850Incorporation Date
20/03/2002Last Annual Return
Not availableAddress
Units 301-313, New Covent Garden Market, London, London. SW8 5EQ
Website
www.premierfruits.comAudit Fees
£20,000Secretary
Not available
Directors
Active
Mr Nigel John Harris (55 yrs)
Active
Mr Simon John Martin (63 yrs)
Active
Mr Jason Michael Tanner (54 yrs)
Active
Ms Olive Edel Tanner (56 yrs)
Active
Mr Richard Hickson (50 yrs)
Active
Ms Rachel Clare Martin
Active
Mr Justin Matthew Tanner (51 yrs)
| Proposed Year |
|||||
|---|---|---|---|---|---|
| Period Ending | 01-Apr-22 | 31-Mar-23 | 28-Mar-24 | 28-Mar-25 | 27-Mar-26 |
| Weeks | 52 | 52 | 52 | 52 | 52 |
| Total Sales (£000) | 52630 | 89766 | 110657 | 128695 | 132891 |
| Directors Fees | 431 | 460 | 481 | 501 | 501 |
| Gross Profits | 11849 | 21058 | 24090 | 24068 | 24853 |
| Value Added | 6371 | 12091 | 13037 | 12072 | 13042 |
| Trading Profit | 2810 | 6527 | 6198 | 3802 | 5251 |
| Depreciation | 308 | 558 | 810 | 1085 | |
| Non-Trading Income | 40 | 208 | 47 | 188 | 0 |
| Total Interest Charges | 38 | 139 | 743 | 687 | 618 |
| Pre-tax Profit | 2504 | 6038 | 4692 | 2218 | 3656 |
| Retained Profit (Shareholders Funds) | 2409 | 5770 | 3528 | 1825 | 1331 |
| Fixed Assets | 1442 | 2739 | 7345 | 7683 | 7299 |
| Intangibles | 0 | 108 | 122 | 131 | 124 |
| Intermediate Assets | 2165 | 2045 | 2364 | 2364 | 2246 |
| Stocks | 486 | 1213 | 1705 | 2535 | 2181 |
| Debtors | 8973 | 11669 | 13008 | 17476 | 15339 |
| Cash or Equivalent | 13283 | 15389 | 9286 | 6853 | 9373 |
| Total Current Assets | 22742 | 28271 | 23999 | 26864 | 26893 |
| Creditors | 5846 | 6136 | 3040 | 2493 | 2960 |
| Short Term Borrowing | 3975 | 5314 | 732 | 747 | 0 |
| Other Current Liabilities | 592 | 5683 | 10297 | 12278 | 12278 |
| Total Current Liabilities | 10413 | 17133 | 14069 | 15518 | 15238 |
| Net Current Assets | 12329 | 11138 | 9930 | 11346 | 11655 |
| Shareholders Funds | 8498 | 14268 | 17796 | 19621 | 20952 |
| Total Loan Capital | 7281 | 1337 | 1661 | 1531 | 0 |
| Other Capital Employed | 157 | 425 | 304 | 372 | 372 |
| Total Capital Employed | 15936 | 16030 | 19761 | 21524 | 21324 |
| Pretax Profit Margin % | 4.76 | 6.73 | 4.24 | 1.72 | 2.75 |
| Sales Growth % | 80 | 71 | 23 | 16 | 3 |
| Pretax Profit Growth % | 11 | 141 | -22 | -53 | 65.00 |
| Debtor Ratio Days | 62 | 47 | 43 | 49 | 42.0146423714985 |
| Creditor Ratio Days | 40 | 25 | 10 | 7 | 8.1088604840903 |
| Stock Turnover | 108 | 74 | 65 | 51 | 60.9207100591716 |
| Sales £000 / Employee | 642 | 1122 | 946 | 933 | 1025.82971014493 |
| Value Added £000/Empl. | 78 | 151 | 111 | 87 | 100.323076923077 |
| Av. Remun. £000 / Empl. | 43 | 70 | 58 | 60 | 59.9275362318841 |
| Total Empl. Remu. £000 | 3561 | 5564 | 6839 | 8270 | 7790.57971014493 |
| Employees | 82 | 80 | 117 | 138 | 130 |
| Pretax Profit/Total Assets % | 10 | 18 | 14 | 6 | 10 |
Company Summary
- The Plimsoll Chart is falling though its height is ok.
- Total Sales have increased by 16.3% in the latest year, well above the industry average of -3.6%.
- The company lies an excellent 1st in terms of Pretax Profits in this industry.
- Sales per Employee is £933,000 which is well above the industry average of £348,000.
- The average salary is £60,000 which is well above the industry average of £53,000.
- The company is ranked among the fastest growing in terms of sales growth in the latest year.
- The company has consistently suffered a fall in sales growth (%) over the last 4 years along with 1 other company.
- The company would have made a significantly higher profit but for interest payments of £687,000.
- 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 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 9 Cash Rich companies.
- The company is among the Top 24 companies listed under the Pretax Profits category (see section 3.2c).
Company Summary
The company currently has £129m sales and made £2.2m, by following the proposal plan, sales would be level but profits would rise to £3.7m.
Key Attractiveness Features
- ADD £129m TO SALES
- HIGH INTEREST PAYMENTS
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 | 28-Mar-24 | 28-Mar-25 | 27-Mar-26 |
| Total Sales (£000) | 52630 | 89766 | 110657 | 128695 | 132891 |
| Pre-tax Profit (£000) | 2504 | 6038 | 4692 | 2218 | 3656 |
| Total Value (£000) | 27731 | 49919 | 53889 | 46279 | 51064 |
| Asset Value (£000) | 13066 | 17774 | 24544 | 30189 | 27189 |
| Goodwill (£000) | 14665 | 32145 | 29345 | 16090 | 23875 |
| Liabilities (£000) | -4568 | -3506 | -6748 | -10568 | -6237 |
| Equity Value (£000) | 23163 | 46413 | 47141 | 35711 | 44827 |
Total Value Formula: (Pretax Profit + Interest Payments - Non Trading Income + Directors Fees) * 5 plus (Fixed Assets + Intangibles + Intermediate Assets + Stocks + Debtors)
Shareholders / Ownership
THE MENU PARTNERS LTD (92.5%)
MR JUSTIN MATTHEW TANNER (7.5%)
Immediate Shareholder: See Shareholders
Subsidiaries
BRUCE WHITE LTD
PRIMEUR LONDON LTD
EUROPEAN SPECIALITY FOODS LTD
THE FOOD HEROES MARKETING LTD
Acquisition / Valuation Comments
This company has been established 24 years.
The number of shareholders is low (2).
1 director is over 60 years of age.
The value of the company has fluctuated in the last 2 years.
The total value of the company is currently £46.3m 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 company's value would increase by 10% if the proposed business plan was followed.
The proposed plan would improve the overall financial strength of the company by 23%.
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