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J. Fletcher (engineers) ltd
Registration Number
01828722Incorporation Date
29/06/1984Last Annual Return
Not availableAddress
J.Fletcher Works, James Nasmyth Way, Manchester, Lancashire. M30 0SF
Website
www.fletchersengineering.co.ukAudit Fees
£17,000Secretary
Not available
Directors
Active
Mr Garry John Colclough (57 yrs)
Active
Mr Steven John Fletcher (54 yrs)
Active
Mr Greg Davies (52 yrs)
Active
Mr Shalet Kumar Gupta (54 yrs)
| Proposed Year |
|||||
|---|---|---|---|---|---|
| Period Ending | 30-Nov-21 | 30-Nov-22 | 30-Nov-23 | 30-Nov-24 | 29-Nov-25 |
| Weeks | 52 | 52 | 52 | 52 | 52 |
| Total Sales (£000) | 11893 | 12930 | 15180 | 16665 | 18621 |
| Directors Fees | 248 | 368 | 432 | 540 | 648 |
| Gross Profits | 2593 | 3158 | 4114 | 4944 | 5524 |
| Value Added | 5649 | 5812 | 7039 | 8502 | 8795 |
| Trading Profit | 252 | 331 | 831 | 1361 | 1545 |
| Depreciation | 106 | 118 | 125 | 157 | |
| Non-Trading Income | 1 | 0 | 0 | 0 | 0 |
| Total Interest Charges | 94 | 133 | 214 | 206 | 247 |
| Pre-tax Profit | 53 | 80 | 492 | 998 | 1110 |
| Retained Profit (Shareholders Funds) | 173 | 195 | 1115 | 587 | 599 |
| Fixed Assets | 2899 | 2968 | 3962 | 4019 | 4823 |
| Intangibles | 0 | 0 | 0 | 0 | 0 |
| Intermediate Assets | 0 | 0 | 0 | 0 | 0 |
| Stocks | 50 | 50 | 50 | 50 | 56 |
| Debtors | 3250 | 3254 | 3475 | 3552 | 3969 |
| Cash or Equivalent | 738 | 861 | 1279 | 1972 | 400 |
| Total Current Assets | 4038 | 4165 | 4804 | 5574 | 4425 |
| Creditors | 1461 | 1268 | 2134 | 1813 | 2330 |
| Short Term Borrowing | 335 | 906 | 347 | 362 | 0 |
| Other Current Liabilities | 901 | 739 | 909 | 1642 | 1970 |
| Total Current Liabilities | 2697 | 2913 | 3390 | 3817 | 4300 |
| Net Current Assets | 1341 | 1252 | 1414 | 1757 | 125 |
| Shareholders Funds | 1822 | 2017 | 3132 | 3719 | 4318 |
| Total Loan Capital | 2229 | 1989 | 1735 | 1532 | 0 |
| Other Capital Employed | 188 | 215 | 510 | 525 | 630 |
| Total Capital Employed | 4239 | 4221 | 5377 | 5776 | 4948 |
| Pretax Profit Margin % | 0.45 | 0.62 | 3.24 | 5.99 | 5.96 |
| Sales Growth % | 8 | 9 | 17 | 10 | 12 |
| Pretax Profit Growth % | 2550 | 51 | 515 | 103 | 11.00 |
| Debtor Ratio Days | 99 | 92 | 83 | 78 | 77.5834383438344 |
| Creditor Ratio Days | 45 | 36 | 51 | 40 | 45.5398619861986 |
| Stock Turnover | 238 | 259 | 304 | 333 | 333.3 |
| Sales £000 / Employee | 95 | 103 | 111 | 127 | 139.935114503817 |
| Value Added £000/Empl. | 45 | 46 | 51 | 65 | 66.1278195488722 |
| Av. Remun. £000 / Empl. | 43 | 44 | 45 | 55 | 54.5114503816794 |
| Total Empl. Remu. £000 | 5397 | 5481 | 6208 | 7141 | 7250.02290076336 |
| Employees | 125 | 126 | 137 | 131 | 133 |
| Pretax Profit/Total Assets % | 1 | 1 | 6 | 10 | 12 |
Company Summary
- The Plimsoll Chart is high and rising indicating an improvement in financial strength, but below the industry average.
- Total Sales have increased by 9.8% in the latest year, well above the industry average of 0.9%.
- Gross Profit Margin is 29.7% in the latest year, well above the industry average of 24.2%.
- 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 4 other companies achieved this.
- Pretax Profit Margin has markedly improved from 3.2% to 6.0% in the latest year.
- The company would have made a significantly higher profit but for interest payments of £206,000.
- The company is among the Top 5 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 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 12 in terms of Pretax Profit Return on Owners Funds.
- The company is among the Top 66 companies listed under the Pretax Profits category (see section 3.2c).
Company Summary
The company currently has £16.7m sales and made £998,000, by following the proposal plan, sales would rise to £18.6m and profits would rise to £1.1m.
Key Attractiveness Features
- ADD £16.7m TO SALES
- FEW DIRECTORS
- 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 | 30-Nov-21 | 30-Nov-22 | 30-Nov-23 | 30-Nov-24 | 29-Nov-25 |
| Total Sales (£000) | 11893 | 12930 | 15180 | 16665 | 18621 |
| Pre-tax Profit (£000) | 53 | 80 | 492 | 998 | 1110 |
| Total Value (£000) | 8169 | 9177 | 13177 | 16341 | 18873 |
| Asset Value (£000) | 6199 | 6272 | 7487 | 7621 | 8848 |
| Goodwill (£000) | 1970 | 2905 | 5690 | 8720 | 10025 |
| Liabilities (£000) | -4376 | -4256 | -4356 | -3902 | -4530 |
| Equity Value (£000) | 3793 | 4921 | 8821 | 12439 | 14343 |
Total Value Formula: (Pretax Profit + Interest Payments - Non Trading Income + Directors Fees) * 5 plus (Fixed Assets + Intangibles + Intermediate Assets + Stocks + Debtors)
Shareholders / Ownership
FLETCHERS PROPCO LTD
Immediate Shareholder: See Shareholders
Subsidiaries
FLETCHER ENGINEERING GROUP LTD
WILLIAM BIRCH (MACHINERY) LTD
Acquisition / Valuation Comments
This company has been established 42 years.
The number of shareholders is low (1).
The value of the company has risen in each of the last 2 years.
The total value of the company is currently £16.3m including debts.
The equity value is high, indicating low levels of total liabilities.
The proposed year is based on achieving a 12% return on total assets.
The company's value would increase by 15% if the proposed business plan was followed.
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