Formation Freight Services Limited

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formation freight services limited Company Information

Live (In Liquidation)

MatureMidRapid

Company Number

04305370

Website

www.formationfreight.co.uk

Registered Address

8b oriana way, nursling industrial estate, southampton, SO16 0YU

Industry

Other transportation support activities

Telephone

02380737412

Next Accounts Due

72 days late

Group Structure

View All

Directors

Ray Davis9 Years

Shareholders

quaestus (rd) ltd 100%

formation freight services limited Estimated Valuation

£4.2m

Pomanda estimates the enterprise value of FORMATION FREIGHT SERVICES LIMITED at £4.2m based on a Turnover of £7.8m and 0.54x industry multiple (adjusted for size and gross margin).

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Formation Freight Services Limited is a live company located in southampton, SO16 0YU with a Companies House number of 04305370. It operates in the other transportation support activities sector, SIC Code 52290. Founded in October 2001, it's largest shareholder is quaestus (rd) ltd with a 100% stake. Formation Freight Services Limited is a mature, mid sized company, Pomanda has estimated its turnover at £7.8m with rapid growth in recent years.

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Pomanda's financial health check has awarded Formation Freight Services Limited a 3.5 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 3 areas for improvement. Company Health Check FAQs

Health Rating3.5out of 5

3 Strong

5 Regular

3 Weak

Size

annual sales of £7.8m, make it in line with the average company (£7.9m)

Growth

3 year (CAGR) sales growth of 47%, show it is growing at a faster rate (5.8%)

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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FORMATION FREIGHT SERVICES LIMITED group structure

Formation Freight Services Limited has no subsidiary companies.

Ultimate parent company

QUAESTUS (RD) LIMITED

09890358

1 parent

FORMATION FREIGHT SERVICES LIMITED

04305370

FORMATION FREIGHT SERVICES LIMITED Shareholders

quaestus (rd) ltd

100%

Formation Freight Services Limited currently has 1 director, Mr Ray Davis serving since Aug 2014.

officer	country	age	start	end	role
Mr Ray Davis	United Kingdom	53 years	Aug 2014	-	Director

EXPORT

Formation Freight Services Limited's latest turnover from June 2022 is estimated at £7.8 million and the company has net assets of £795.2 thousand. According to their latest financial statements, Formation Freight Services Limited has 80 employees and maintains cash reserves of £419.5 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Dec 2013	Dec 2012	Dec 2011	Oct 2010	Oct 2009
Turnover	7,822,910	4,067,902	3,407,564	2,462,553	1,668,915	1,572,097	1,704,073	3,286,394	3,581,302	2,706,224	2,698,935	2,469,366	2,262,358	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	6,041,970	3,162,311	2,649,170	1,891,403	1,282,894	1,210,802	1,326,890	2,571,631	2,778,453	2,133,245	2,135,559	1,969,764	1,758,844	0
Gross Profit	1,780,940	905,591	758,394	571,150	386,021	361,295	377,183	714,763	802,849	572,979	563,376	499,602	503,514	0
Admin Expenses	1,461,951	1,056,052	729,251	667,807	209,326	175,201	381,228	699,995	648,973	741,130	528,339	285,145	480,407	-2,503
Operating Profit	318,989	-150,461	29,143	-96,657	176,695	186,094	-4,045	14,768	153,876	-168,151	35,037	214,457	23,107	2,503
Interest Payable	28,274	20,740	10,838	3,375	0	0	0	0	0	0	0	0	0	0
Interest Receivable	3,925	202	157	889	544	260	590	525	314	360	387	215	162	80
Pre-Tax Profit	294,641	-170,999	18,462	-99,144	177,240	186,354	-3,455	15,294	154,190	-167,791	35,424	214,672	23,269	2,583
Tax	-55,982	0	-3,508	0	-33,676	-35,407	0	-3,059	-32,380	0	-8,502	-55,815	-6,515	-723
Profit After Tax	238,659	-170,999	14,954	-99,144	143,564	150,947	-3,455	12,235	121,810	-167,791	26,922	158,857	16,754	1,860
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	238,659	-170,999	14,954	-99,144	143,564	150,947	-3,455	12,235	121,810	-167,791	26,922	158,857	16,754	1,860
Employee Costs	3,330,679	1,085,358	955,333	188,868	152,721	305,449	294,084	498,047	578,169	400,573	393,825	350,854	406,236	0
Number Of Employees	80	28	25	5	4	8	8	14	16	11	11	10	12	0
EBITDA*	468,529	-43,345	116,424	28,506	269,990	244,504	16,077	40,098	167,636	-157,497	45,720	229,958	43,028	33,371

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Dec 2013	Dec 2012	Dec 2011	Oct 2010	Oct 2009
Tangible Assets	1,880,814	1,110,610	958,560	1,012,941	833,126	595,091	328,357	98,479	123,809	137,570	42,027	53,676	68,733	102,697
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	1,880,814	1,110,610	958,560	1,012,941	833,126	595,091	328,357	98,479	123,809	137,570	42,027	53,676	68,733	102,697
Stock & work in progress	0	75,000	75,000	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	842,846	627,146	418,264	449,080	352,374	274,927	294,612	556,491	617,883	319,974	399,339	385,142	324,382	264,065
Group Debtors	0	0	0	0	0	88,679	0	0	0	0	0	0	0	0
Misc Debtors	399,686	450,132	179,979	126,733	67,077	39,327	57,629	0	0	0	0	0	0	153,656
Cash	419,528	208,463	195,492	118,569	118,393	99,255	108,881	127,240	82,874	42,686	101,510	53,260	32,704	32,114
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	1,662,060	1,360,741	868,735	694,382	537,844	502,188	461,122	683,731	700,757	362,660	500,849	438,402	357,086	449,835
total assets	3,542,874	2,471,351	1,827,295	1,707,323	1,370,970	1,097,279	789,479	782,210	824,566	500,230	542,876	492,078	425,819	552,532
Bank overdraft	106,264	40,334	0	0	0	0	0	0	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	585,158	478,387	372,504	375,995	176,251	173,085	170,877	261,563	316,154	440,505	332,461	304,094	407,105	526,861
Group/Directors Accounts	1	1	1	95,393	0	0	0	0	0	0	0	0	0	0
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	381,074	241,413	178,784	63,730	63,730	0	0	0	0	0	0	0	0	0
other current liabilities	546,804	73,516	78,605	14,764	53,016	101,570	101,410	0	0	0	0	0	0	0
total current liabilities	1,619,301	833,651	629,894	549,882	292,997	274,655	272,287	261,563	316,154	440,505	332,461	304,094	407,105	526,861
loans	249,026	384,340	255,336	100,013	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	879,374	696,846	214,552	344,869	266,270	0	0	0	0	0	0	0	0	23,711
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	154,485	0	0	0	0	0	0	0	0
provisions	0	0	0	0	0	0	0	0	0	23,023	5,922	10,413	0	0
total long term liabilities	1,128,400	1,081,186	469,888	444,882	266,270	154,485	0	0	0	23,023	5,922	10,413	0	23,711
total liabilities	2,747,701	1,914,837	1,099,782	994,764	559,267	429,140	272,287	261,563	316,154	463,528	338,383	314,507	407,105	550,572
net assets	795,173	556,514	727,513	712,559	811,703	668,139	517,192	520,647	508,412	36,702	204,493	177,571	18,714	1,960
total shareholders funds	795,173	556,514	727,513	712,559	811,703	668,139	517,192	520,647	508,412	36,702	204,493	177,571	18,714	1,960

	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017	Jun 2016	Jun 2015	Jun 2014	Dec 2013	Dec 2012	Dec 2011	Oct 2010	Oct 2009
Operating Activities
Operating Profit	318,989	-150,461	29,143	-96,657	176,695	186,094	-4,045	14,768	153,876	-168,151	35,037	214,457	23,107	2,503
Depreciation	149,540	107,116	87,281	125,163	93,295	58,410	20,122	25,330	13,760	10,654	10,683	15,501	19,921	30,868
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-55,982	0	-3,508	0	-33,676	-35,407	0	-3,059	-32,380	0	-8,502	-55,815	-6,515	-723
Stock	-75,000	0	75,000	0	0	0	0	0	0	0	0	0	0	0
Debtors	165,254	479,035	22,430	156,362	16,518	50,692	-204,250	-61,392	297,909	-79,365	14,197	60,760	-93,339	417,721
Creditors	106,771	105,883	-3,491	199,744	3,166	2,208	-90,686	-54,591	-124,351	108,044	28,367	-103,011	-119,756	526,861
Accruals and Deferred Income	473,288	-5,089	63,841	-38,252	-48,554	160	101,410	0	0	0	0	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	-23,023	17,101	-4,491	10,413	0	0
Cash flow from operations	902,352	-421,586	75,836	33,636	174,408	160,773	231,051	43,840	-310,027	47,013	46,897	20,785	10,096	141,788
Investing Activities
capital expenditure	-919,744	-259,166	-32,900	-304,978	-331,330	-325,144	-250,000	0	1	-106,197	966	-444	14,043	-133,565
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-919,744	-259,166	-32,900	-304,978	-331,330	-325,144	-250,000	0	1	-106,197	966	-444	14,043	-133,565
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	-95,392	95,393	0	0	0	0	0	0	0	0	0	0
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	-135,314	129,004	155,323	100,013	0	0	0	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	322,189	544,923	-15,263	78,599	330,000	0	0	0	0	0	0	0	-23,711	23,711
other long term liabilities	0	0	0	0	-154,485	154,485	0	0	0	0	0	0	0	0
share issue	0	0	0	0	0	0	0	0	349,900	0	0	0	0	100
interest	-24,349	-20,538	-10,681	-2,486	544	260	590	525	314	360	387	215	162	80
cash flow from financing	162,526	653,389	33,987	271,519	176,059	154,745	590	525	350,214	360	387	215	-23,549	23,891
cash and cash equivalents
cash	211,065	12,971	76,923	176	19,138	-9,626	-18,359	44,366	40,188	-58,824	48,250	20,556	590	32,114
overdraft	65,930	40,334	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	145,135	-27,363	76,923	176	19,138	-9,626	-18,359	44,366	40,188	-58,824	48,250	20,556	590	32,114

P&L

June 2022

turnover

7.8m

+92%

operating profit

319k

gross margin

22.8%

+2.26%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

June 2022

net assets

795.2k

+0.43%

total assets

3.5m

+0.43%

cash

419.5k

+1.01%

net assets

Total assets minus all liabilities

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company number

04305370

Type

Private limited with Share Capital

industry

52290 - Other transportation support activities

incorporation date

October 2001

age

accounts

Total Exemption Full

ultimate parent company

QUAESTUS (RD) LIMITED

previous names

N/A

incorporated

address

8b oriana way, nursling industrial estate, southampton, SO16 0YU

last accounts submitted

June 2022

A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.

We found 5 charges/mortgages relating to formation freight services limited. Currently there are 0 open charges and 5 have been satisfied in the past.

formation freight services limited Company Information

formation freight services limited Estimated Valuation

formation freight services limited Estimated Valuation

formation freight services limited Estimated Valuation

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