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Lodge tyre company ltd(the)
Registration Number
00531793Incorporation Date
06/04/1954Last Annual Return
Not availableAddress
Icknield Street Drive, Redditch, Worcestershire. B98 0DE
Website
www.lodgetyre.comAudit Fees
Not availableSecretary
Mr Timothy O'Gorman
Directors
Active
Mr Henry Benedict Birch (56 yrs)
Active
Ms Johanna Ruth Hartley (50 yrs)
| Proposed Year |
|||||
|---|---|---|---|---|---|
| Period Ending | 31-Mar-21 | 31-Mar-22 | 31-Mar-23 | 29-Mar-24 | 28-Mar-25 |
| Weeks | 52 | 52 | 52 | 52 | 52 |
| Total Sales (£000) | 68150 | 81976 | 91839 | 96728 | 102289 |
| Directors Fees | 7 | 149 | 95 | 0 | 0 |
| Gross Profits | 10222 | 12784 | 13609 | 23340 | 24682 |
| Value Added | 16634 | 16696 | 18714 | 24362 | 25474 |
| Trading Profit | 3462 | 3303 | 3794 | 6613 | 8411 |
| Depreciation | 1124 | 1280 | 1525 | 1501 | |
| Non-Trading Income | 0 | 0 | 0 | 139 | 0 |
| Total Interest Charges | 52 | 65 | 118 | 95 | 103 |
| Pre-tax Profit | 2286 | 1958 | 2151 | 5156 | 6687 |
| Retained Profit (Shareholders Funds) | 1884 | 1617 | 1659 | 4008 | 3094 |
| Fixed Assets | 3136 | 3179 | 3460 | 4722 | 5100 |
| Intangibles | 336 | 215 | 94 | 579 | 625 |
| Intermediate Assets | 0 | 0 | 0 | 0 | 0 |
| Stocks | 6256 | 7703 | 9313 | 9897 | 10466 |
| Debtors | 12864 | 15692 | 16493 | 16968 | 17944 |
| Cash or Equivalent | 3803 | 3372 | 3195 | 5925 | 7660 |
| Total Current Assets | 22923 | 26767 | 29001 | 32790 | 36070 |
| Creditors | 12605 | 17586 | 16535 | 17152 | 20859 |
| Short Term Borrowing | 2798 | 1363 | 3132 | 1675 | 0 |
| Other Current Liabilities | 2594 | 1351 | 2138 | 2618 | 2827 |
| Total Current Liabilities | 17997 | 20300 | 21805 | 21445 | 23686 |
| Net Current Assets | 4926 | 6467 | 7196 | 11345 | 12384 |
| Shareholders Funds | 7136 | 8753 | 10412 | 14420 | 17514 |
| Total Loan Capital | 1152 | 831 | 0 | 1675 | 0 |
| Other Capital Employed | 110 | 277 | 338 | 551 | 595 |
| Total Capital Employed | 8398 | 9861 | 10750 | 16646 | 18109 |
| Pretax Profit Margin % | 3.35 | 2.39 | 2.34 | 5.33 | 6.54 |
| Sales Growth % | 7 | 20 | 12 | 5 | 6 |
| Pretax Profit Growth % | 77 | -14 | 10 | 140 | 29.69 |
| Debtor Ratio Days | 69 | 70 | 65 | 64 | 63.8527830617815 |
| Creditor Ratio Days | 67 | 78 | 66 | 65 | 74.2269787445207 |
| Stock Turnover | 11 | 11 | 10 | 10 | 9.773466707083 |
| Sales £000 / Employee | 160 | 193 | 212 | 211 | 232.31615720524 |
| Value Added £000/Empl. | 39 | 39 | 43 | 53 | 57.8557808283342 |
| Av. Remun. £000 / Empl. | 31 | 32 | 34 | 39 | 38.7532751091703 |
| Total Empl. Remu. £000 | 13172 | 13393 | 14920 | 17749 | 17063.1338130266 |
| Employees | 425 | 425 | 434 | 458 | 440.301723272645 |
| Pretax Profit/Total Assets % | 9 | 6 | 7 | 14 | 16 |
Company Summary
- The Plimsoll Chart is high and rising indicating an improvement in financial strength, in line with the industry average.
- Total Sales have increased by 5.3% in the latest year, well above the industry average of 3.2%.
- Gross Profit Margin has markedly improved from 14.8% to 24.1% in the latest year.
- The company is ranked among the fastest growing in terms of sales growth in the latest year.
- Pretax Profit Margin is 5.3% in the latest year, well above the industry average of 3.1%.
- Pretax Profit Margin has markedly improved from 2.3% to 5.3% in the latest year.
- The Profitability chart shows a well above average pretax profit return on total assets in the latest year
- The company is among the Top 13 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 17 in terms of Pretax Profit Return on Owners Funds.
- The company is among the Top 70 companies listed under the Pretax Profits category (see section 3.2c).
Company Summary
The company currently has £96.7m sales and made £5.2m, by following the proposal plan, sales would rise to £102m and profits would rise to £6.7m.
Key Attractiveness Features
- ADD £96.7m TO SALES
- 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-Mar-21 | 31-Mar-22 | 31-Mar-23 | 29-Mar-24 | 28-Mar-25 |
| Total Sales (£000) | 68150 | 81976 | 91839 | 96728 | 102289 |
| Pre-tax Profit (£000) | 2286 | 1958 | 2151 | 5156 | 6687 |
| Total Value (£000) | 34317 | 37649 | 41180 | 57726 | 68085 |
| Asset Value (£000) | 22592 | 26789 | 29360 | 32166 | 34135 |
| Goodwill (£000) | 11725 | 10860 | 11820 | 25560 | 33950 |
| Liabilities (£000) | -15456 | -18036 | -18948 | -17746 | -16621 |
| Equity Value (£000) | 18861 | 19613 | 22232 | 39980 | 51464 |
Total Value Formula: (Pretax Profit + Interest Payments - Non Trading Income + Directors Fees) * 5 plus (Fixed Assets + Intangibles + Intermediate Assets + Stocks + Debtors)
Shareholders / Ownership
LTC TRADING HOLDINGS LTD (100.0%)
Immediate Shareholder: See Shareholders
Subsidiaries
CAPITAL TYRES (NORTHALLERTON) LTD
Acquisition / Valuation Comments
This company has been established 71 years.
The number of shareholders is low (1)
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 £57.7m including debts.
The equity value, after deducting debts is £40.0m.
The company value is small in comparison to its sales.
The proposed year is based on achieving a 16% return on total assets.
The company's value would increase by 18% if the proposed business plan was followed.
The proposed plan would improve the overall financial strength of the company by 15%.
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