Book a FREE no obligation demo with one of our specialists to see how Plimsoll can help you
Book a free Demo
Kennet equipment leasing ltd
Registration Number
02569928Incorporation Date
20/12/1990Last Annual Return
Not availableAddress
2 Temple Court, Temple Way, Birmingham, West Midlands. B46 1HH
Website
www.kennet-leasing.co.ukAudit Fees
£54,000Secretary
Mr Timothy Lawrence Tainty
Directors
Active
Mr Sean Michael Devoy (58 yrs)
Active
Mr Timothy Lawrence Tainty (63 yrs)
Active
Mr Stephen Swift (60 yrs)
| Proposed Year |
|||||
|---|---|---|---|---|---|
| Period Ending | 31-Dec-21 | 31-Dec-22 | 31-Dec-23 | 31-Dec-24 | 30-Dec-25 |
| Weeks | 52 | 52 | 52 | 52 | 52 |
| Total Sales (£000) | 10000 | 10731 | 12352 | 13596 | 13870 |
| Directors Fees | 245 | 111 | 113 | 120 | 120 |
| Gross Profits | 9219 | 9835 | 11190 | 12440 | 12691 |
| Value Added | 7509 | 6401 | 7369 | 9249 | 7657 |
| Trading Profit | 3135 | 890 | 1499 | 3729 | 2538 |
| Depreciation | 356 | 222 | 216 | 209 | |
| Non-Trading Income | 0 | 29 | 70 | 103 | 0 |
| Total Interest Charges | 1044 | 734 | 1520 | 1351 | 1216 |
| Pre-tax Profit | 1735 | -37 | -167 | 2272 | 1134 |
| Retained Profit (Shareholders Funds) | 1513 | -60 | -177 | -1658 | 1363 |
| Fixed Assets | 362 | 513 | 462 | 299 | 284 |
| Intangibles | 0 | 0 | 0 | 0 | 0 |
| Intermediate Assets | 0 | 0 | 0 | 0 | 0 |
| Stocks | 0 | 0 | 0 | 0 | 0 |
| Debtors | 1118 | 1048 | 10752 | 1283 | 1113 |
| Cash or Equivalent | 54164 | 69928 | 66044 | 63978 | 26956 |
| Total Current Assets | 55282 | 70976 | 76796 | 65261 | 28069 |
| Creditors | 943 | 951 | 1006 | 642 | 753 |
| Short Term Borrowing | 15607 | 17120 | 21133 | 19233 | 0 |
| Other Current Liabilities | 1609 | 1877 | 2442 | 2581 | 2581 |
| Total Current Liabilities | 18159 | 19948 | 24581 | 22456 | 3334 |
| Net Current Assets | 37123 | 51028 | 52215 | 42805 | 24735 |
| Shareholders Funds | 25551 | 25491 | 25314 | 23656 | 25019 |
| Total Loan Capital | 11934 | 26050 | 27363 | 19448 | 0 |
| Other Capital Employed | 0 | 0 | 0 | 0 | 0 |
| Total Capital Employed | 37485 | 51541 | 52677 | 43104 | 25019 |
| Pretax Profit Margin % | 17.35 | -0.34 | -1.35 | 16.71 | 8.18 |
| Sales Growth % | -23 | 7 | 15 | 10 | 2 |
| Pretax Profit Growth % | -48 | -102 | -351 | 1460 | -50.00 |
| Debtor Ratio Days | 41 | 36 | 317 | 34 | 29.1968373050897 |
| Creditor Ratio Days | 34 | 32 | 30 | 17 | 19.7661959399824 |
| Stock Turnover | NA | NA | NA | NA | NA |
| Sales £000 / Employee | 105 | 103 | 112 | 127 | 139.771962616823 |
| Value Added £000/Empl. | 79 | 62 | 67 | 86 | 77.162576237557 |
| Av. Remun. £000 / Empl. | 46 | 53 | 53 | 52 | 51.588785046729 |
| Total Empl. Remu. £000 | 4374 | 5511 | 5870 | 5520 | 5119.26048045218 |
| Employees | 95 | 104 | 110 | 107 | 99.2320419218085 |
| Pretax Profit/Total Assets % | 3 | 0 | 0 | 3 | 4 |
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 10.1% in the latest year, well above the industry average of -0.4%.
- Gross Profit Margin is 91.5% in the latest year, well above the industry average of 53.6%.
- The company is ranked among the fastest growing in terms of sales growth in the latest year.
- Pretax Profit Margin is 16.7% in the latest year, well above the industry average of 13.3%.
- Shareholders received £3.4m in dividends this year, over 150% of the pretax profits of the company.
- The company would have made a significantly higher profit but for interest payments of £1.4m.
- The formal debt of the company is high, representing 285% of Total Sales.
- Formal debt of the company has decreased by £9.8m, a fall of 20%.
- The company is among the Top 2 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).
Company Summary
The company currently has £13.6m sales and made £2.3m, by following the proposal plan, sales would be level and profits would fall to £1.1m.
Key Attractiveness Features
- ADD £13.6m TO SALES
- FEW DIRECTORS
- 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 | 31-Dec-21 | 31-Dec-22 | 31-Dec-23 | 31-Dec-24 | 30-Dec-25 |
| Total Sales (£000) | 10000 | 10731 | 12352 | 13596 | 13870 |
| Pre-tax Profit (£000) | 1735 | -37 | -167 | 2272 | 1134 |
| Total Value (£000) | 16600 | 5456 | 18194 | 19782 | 13747 |
| Asset Value (£000) | 1480 | 1561 | 11214 | 1582 | 1397 |
| Goodwill (£000) | 15120 | 3895 | 6980 | 18200 | 12350 |
| Liabilities (£000) | 24071 | 23930 | 14100 | 22074 | 23622 |
| Equity Value (£000) | 40671 | 29386 | 32294 | 41856 | 37369 |
Total Value Formula: (Pretax Profit + Interest Payments - Non Trading Income + Directors Fees) * 5 plus (Fixed Assets + Intangibles + Intermediate Assets + Stocks + Debtors)
Shareholders / Ownership
STAR ASSET FINANCE LTD (100.0%)
Immediate Shareholder: See Shareholders
Subsidiaries
None
Acquisition / Valuation Comments
This company has been established 35 years.
The number of shareholders is low (1)
1 director is 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 £19.8m including debts.
The equity value is high, indicating low levels of total liabilities.
The proposed year is based on achieving a 4% return on total assets.
The proposed plan would improve the overall financial strength of the company by 172%.
Book a FREE no obligation demo with one of our specialists to see how Plimsoll can help you
Book a free Demo