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David lock associates ltd
Registration Number
02422692Incorporation Date
14/09/1989Last Annual Return
Not availableAddress
50 North Thirteenth Street, Milton Keynes, Buckinghamshire. MK9 3BP
Website
www.davidlock.comAudit Fees
£21,000Secretary
Ms Debra Ann Hayhurst
Directors
Active
Ms Joanne Cave (56 yrs)
Active
Mr Richard Arwel Owen (49 yrs)
Active
Ms Julia Ann Foster (56 yrs)
Active
Mr Robert Mark Purton (60 yrs)
| Proposed Year |
|||||
|---|---|---|---|---|---|
| Period Ending | 31-Oct-20 | 31-Oct-21 | 31-Oct-22 | 31-Oct-23 | 29-Oct-24 |
| Weeks | 52 | 52 | 52 | 52 | 52 |
| Total Sales (£000) | 6020 | 6306 | 7024 | 7573 | 7691 |
| Directors Fees | 765 | 835 | 894 | 979 | 979 |
| Gross Profits | 1354 | 1688 | 2173 | 2297 | 2333 |
| Value Added | 5226 | 5469 | 5601 | 6192 | 5914 |
| Trading Profit | 427 | 268 | 304 | 722 | 864 |
| Depreciation | 104 | 116 | 140 | 142 | |
| Non-Trading Income | 0 | 0 | 1 | 13 | 0 |
| Total Interest Charges | 30 | 18 | 25 | 22 | 20 |
| Pre-tax Profit | 293 | 134 | 140 | 571 | 716 |
| Retained Profit (Shareholders Funds) | 307 | 136 | 232 | 455 | 343 |
| Fixed Assets | 1717 | 1689 | 1711 | 1626 | 1545 |
| Intangibles | 0 | 0 | 0 | 0 | 0 |
| Intermediate Assets | 765 | 765 | 840 | 855 | 812 |
| Stocks | 0 | 0 | 0 | 0 | 0 |
| Debtors | 2105 | 3077 | 2239 | 1702 | 1469 |
| Cash or Equivalent | 2202 | 1235 | 1834 | 2796 | 3334 |
| Total Current Assets | 4307 | 4312 | 4073 | 4498 | 4803 |
| Creditors | 142 | 188 | 203 | 147 | 172 |
| Short Term Borrowing | 237 | 174 | 118 | 118 | 0 |
| Other Current Liabilities | 1343 | 1330 | 1121 | 1195 | 1195 |
| Total Current Liabilities | 1722 | 1692 | 1442 | 1460 | 1367 |
| Net Current Assets | 2585 | 2620 | 2631 | 3038 | 3436 |
| Shareholders Funds | 4627 | 4763 | 4995 | 5450 | 5793 |
| Total Loan Capital | 432 | 304 | 188 | 70 | 0 |
| Other Capital Employed | 8 | 6 | 0 | 0 | 0 |
| Total Capital Employed | 5067 | 5073 | 5183 | 5520 | 5793 |
| Pretax Profit Margin % | 4.87 | 2.12 | 1.99 | 7.54 | 9.31 |
| Sales Growth % | -13 | 5 | 11 | 8 | 2 |
| Pretax Profit Growth % | 22 | -54 | 4 | 308 | 25.00 |
| Debtor Ratio Days | 127 | 178 | 116 | 82 | 69.536352832431 |
| Creditor Ratio Days | 9 | 11 | 11 | 7 | 8.1254720718341 |
| Stock Turnover | NA | NA | NA | NA | NA |
| Sales £000 / Employee | 85 | 97 | 108 | 115 | 126.216666666666 |
| Value Added £000/Empl. | 74 | 84 | 86 | 94 | 97.0495761959497 |
| Av. Remun. £000 / Empl. | 68 | 80 | 81 | 83 | 82.8787878787879 |
| Total Empl. Remu. £000 | 4799 | 5201 | 5297 | 5470 | 5050.4615344792 |
| Employees | 71 | 65 | 65 | 66 | 60.9379271070616 |
| Pretax Profit/Total Assets % | 4 | 2 | 2 | 8 | 10 |
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 7.8% in the latest year, well above the industry average of 5.3%.
- The average salary is £83,000 which is well above the industry average of £61,000.
- The company is ranked among the fastest growing in terms of sales growth in the latest year.
- Pretax Profit Margin has markedly improved from 2.0% to 7.5% in the latest year.
- The £979,000 directors fees figure disclosed significantly affects the profitability of the company.
- Formal debt of the company has decreased by £118,000, a fall of 39%.
- The Trading Stability chart shows a well below average sales return on total assets in the latest year
- The Profitability chart shows a well above average pretax profit return on total assets in the latest year
- We expect new accounts for this company to be filed in the next couple of months, contact us for an updated analysis.
- The company is among the Top 6 companies listed as a Best Trading Partner (see section 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 56 companies listed under the Pretax Profits category (see section 3.2c).
Company Summary
The company currently has £7.6m sales and made £571,000, by following the proposal plan, sales would be level but profits would rise to £716,000.
Key Attractiveness Features
- PRIVATELY OWNED
- ADD £7.6m TO SALES
- ATTRACTIVE RATING
- FEW DIRECTORS
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-Oct-20 | 31-Oct-21 | 31-Oct-22 | 31-Oct-23 | 29-Oct-24 |
| Total Sales (£000) | 6020 | 6306 | 7024 | 7573 | 7691 |
| Pre-tax Profit (£000) | 293 | 134 | 140 | 571 | 716 |
| Total Value (£000) | 10027 | 10466 | 10080 | 11978 | 12401 |
| Asset Value (£000) | 4587 | 5531 | 4790 | 4183 | 3826 |
| Goodwill (£000) | 5440 | 4935 | 5290 | 7795 | 8575 |
| Liabilities (£000) | 40 | -767 | 204 | 1266 | 1967 |
| Equity Value (£000) | 10067 | 9699 | 10284 | 13244 | 14368 |
Total Value Formula: (Pretax Profit + Interest Payments - Non Trading Income + Directors Fees) * 5 plus (Fixed Assets + Intangibles + Intermediate Assets + Stocks + Debtors)
Shareholders / Ownership
TRUSTEE OF DAVID LOCK ASSOCIATES & TRUST (100.0%)
Immediate Shareholder: See Shareholders
Subsidiaries
DAVID LOCK ASSOCIATES NORDIC AS
Acquisition / Valuation Comments
This company has been established 36 years.
The number of shareholders is low (1)
The total value of the company is currently £12.0m 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 10% return on total assets.
The proposed plan would improve the overall financial strength of the company by 21%.
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