G M Steel Newark Limited

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g m steel newark limited Company Information

Live

MatureMidLow

Company Number

01544888

Website

www.abachemeng.com

Registered Address

jessop way, newark, notts, NG24 2ER

Industry

Manufacture of other general-purpose machinery n.e.c.

Telephone

01636676483

Next Accounts Due

December 2024

Group Structure

View All

Directors

Patrick Muckian24 Years

Shareholders

porthouse holdings ltd 100%

g m steel newark limited Estimated Valuation

£2.2m

Pomanda estimates the enterprise value of G M STEEL NEWARK LIMITED at £2.2m based on a Turnover of £5.9m and 0.37x industry multiple (adjusted for size and gross margin).

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G M Steel Newark Limited is a live company located in notts, NG24 2ER with a Companies House number of 01544888. It operates in the manufacture of other general-purpose machinery n.e.c. sector, SIC Code 28290. Founded in February 1981, it's largest shareholder is porthouse holdings ltd with a 100% stake. G M Steel Newark Limited is a mature, mid sized company, Pomanda has estimated its turnover at £5.9m with low growth in recent years.

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Pomanda's financial health check has awarded G M Steel Newark Limited a 2.5 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 8 areas for improvement. Company Health Check FAQs

Health Rating2.5out of 5

3 Strong

1 Regular

8 Weak

Size

annual sales of £5.9m, make it smaller than the average company (£12.8m)

Growth

3 year (CAGR) sales growth of 0%, show it is growing at a slower rate (5.5%)

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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G M STEEL NEWARK LIMITED group structure

G M Steel Newark Limited has no subsidiary companies.

Ultimate parent company

GM STEEL HOLDINGS LIMITED

IE710712

PORTHOUSE HOLDINGS LIMITED

IE288109

2 parents

G M STEEL NEWARK LIMITED

01544888

G M STEEL NEWARK LIMITED Shareholders

porthouse holdings ltd

100%

G M Steel Newark Limited currently has 1 director, Mr Patrick Muckian serving since Apr 2000.

officer	country	age	start	end	role
Mr Patrick Muckian		47 years	Apr 2000	-	Director

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G M Steel Newark Limited's latest turnover from March 2023 is estimated at £5.9 million and the company has net assets of £572.1 thousand. According to their latest financial statements, G M Steel Newark Limited has 10 employees and maintains cash reserves of £390.1 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Turnover	5,881,898	6,859,884	5,880,457	5,833,047	6,065,553	4,880,055	3,034,296	1,506,928	2,268,951	1,562,402	2,096,418	1,647,457	784,362	423,434
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	4,727,270	5,435,743	4,557,141	4,464,871	4,585,663	3,722,575	2,321,589	1,156,246	1,773,069	1,197,515	1,592,731	1,280,161	609,077	319,844
Gross Profit	683,912	592,991	533,736	710,523	553,598	649,775	452,640	361,477	495,882	364,887	503,687	367,296	175,284	103,589
Admin Expenses	659,387	535,457	527,192	704,528	555,165	621,787	396,488	356,184	461,896	374,968	472,287	363,233	103,285	-102,930
Operating Profit	24,525	57,534	6,544	5,995	-1,567	27,988	56,152	5,293	33,986	-10,081	31,400	4,063	71,999	206,519
Interest Payable	971	908	0	679	0	0	0	0	0	0	0	0	0	0
Interest Receivable	0	0	0	0	26	0	40	58	1,784	2,531	1,711	675	539	276
Pre-Tax Profit	23,554	56,626	6,544	5,316	-1,541	27,988	56,192	5,351	35,770	-7,550	33,111	4,738	72,538	206,794
Tax	61,308	54,811	-3,810	620	-3,882	-6,777	-9,530	-16,305	-7,512	0	-7,947	-1,232	-20,310	-57,902
Profit After Tax	84,862	111,437	2,734	5,936	-5,423	21,211	46,662	-10,954	28,258	-7,550	25,164	3,506	52,227	148,892
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	84,862	111,437	2,734	5,936	-5,423	21,211	46,662	-10,954	28,258	-7,550	25,164	3,506	52,227	148,892
Employee Costs	440,946	436,410	429,808	550,000	578,048	525,056	433,184	420,656	378,325	291,831	379,117	302,991	177,658	109,114
Number Of Employees	10	10	10	13	14	13	11	11	10	8	11	8	5	3
EBITDA*	39,885	78,279	31,030	29,351	16,698	39,772	71,907	18,561	55,202	12,421	51,698	26,050	95,302	216,523

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Tangible Assets	309,200	311,114	328,697	343,960	140,991	97,759	106,742	98,691	182,248	200,829	121,934	140,587	162,501	157,896
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	0	0	0	82,008	82,008	82,008	82,008	82,008	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	309,200	311,114	328,697	425,968	222,999	179,767	188,750	180,699	182,248	200,829	121,934	140,587	162,501	157,896
Stock & work in progress	279,713	501,486	446,693	304,746	148,210	825,973	150,649	91,835	57,518	93,102	94,339	67,785	64,345	28,905
Trade Debtors	2,782,319	2,562,147	2,354,313	2,084,087	2,321,498	1,565,943	1,640,455	779,834	687,970	361,917	536,654	533,104	239,903	109,342
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	390,095	571,925	370,670	311,116	232,743	220,026	691,763	362,421	220,534	492,956	519,478	164,803	105,164	110,309
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	3,452,127	3,635,558	3,171,676	2,699,949	2,702,451	2,611,942	2,482,867	1,234,090	966,022	947,975	1,150,471	765,692	409,412	248,556
total assets	3,761,327	3,946,672	3,500,373	3,125,917	2,925,450	2,791,709	2,671,617	1,414,789	1,148,270	1,148,804	1,272,405	906,279	571,913	406,452
Bank overdraft	0	0	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	3,144,055	3,407,993	3,058,263	2,735,391	2,540,240	2,384,567	182,228	29,585	813,220	819,135	947,463	598,901	262,641	152,107
Group/Directors Accounts	0	0	0	0	0	0	1,190,218	949,612	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	1	0	0	0	0	0	913,070	96,153	0	0	0	0	0	0
total current liabilities	3,144,056	3,407,993	3,058,263	2,735,391	2,540,240	2,384,567	2,285,516	1,075,350	813,220	819,135	947,463	598,901	262,641	152,107
loans	0	0	0	0	0	0	19,400	19,400	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	22,496	32,174	45,040	0	0	19,400	0	0	19,400	23,950	30,000	30,000	30,000	30,000
provisions	22,659	19,251	21,253	17,443	18,063	15,172	15,343	15,343	0	18,327	0	7,600	13,000	10,300
total long term liabilities	45,155	51,425	66,293	17,443	18,063	34,572	34,743	34,743	19,400	42,277	30,000	37,600	43,000	40,300
total liabilities	3,189,211	3,459,418	3,124,556	2,752,834	2,558,303	2,419,139	2,320,259	1,110,093	832,620	861,412	977,463	636,501	305,641	192,407
net assets	572,116	487,254	375,817	373,083	367,147	372,570	351,358	304,696	315,650	287,392	294,942	269,778	266,272	214,045
total shareholders funds	572,116	487,254	375,817	373,083	367,147	372,570	351,358	304,696	315,650	287,392	294,942	269,778	266,272	214,045

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Operating Activities
Operating Profit	24,525	57,534	6,544	5,995	-1,567	27,988	56,152	5,293	33,986	-10,081	31,400	4,063	71,999	206,519
Depreciation	15,360	20,745	24,486	23,356	18,265	11,784	15,755	13,268	21,216	22,502	20,298	21,987	23,303	10,004
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	61,308	54,811	-3,810	620	-3,882	-6,777	-9,530	-16,305	-7,512	0	-7,947	-1,232	-20,310	-57,902
Stock	-221,773	54,793	141,947	156,536	-677,763	675,324	58,814	34,317	-35,584	-1,237	26,554	3,440	35,440	28,905
Debtors	220,172	207,834	270,226	-237,411	755,555	-74,512	860,621	91,864	326,053	-174,737	3,550	293,201	130,561	109,342
Creditors	-263,938	349,730	322,872	195,151	155,673	2,202,339	152,643	-783,635	-5,915	-128,328	348,562	336,260	110,534	152,107
Accruals and Deferred Income	1	0	0	0	0	-913,070	816,917	96,153	0	0	0	0	0	0
Deferred Taxes & Provisions	3,408	-2,002	3,810	-620	2,891	-171	0	15,343	-18,327	18,327	-7,600	-5,400	2,700	10,300
Cash flow from operations	-157,735	218,191	-58,271	305,377	93,588	721,281	112,502	-796,064	-267,021	78,394	354,609	59,037	22,225	182,781
Investing Activities
capital expenditure	-13,446	-3,162	-9,223	-226,325	-61,497	-2,801	-23,806	70,289	-2,635	-101,397	-1,645	-73	-27,908	-167,900
Change in Investments	0	0	-82,008	0	0	0	0	82,008	0	0	0	0	0	0
cash flow from investments	-13,446	-3,162	72,785	-226,325	-61,497	-2,801	-23,806	-11,719	-2,635	-101,397	-1,645	-73	-27,908	-167,900
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	0	0	0	-1,190,218	240,606	949,612	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	0	0	0	0	0	-19,400	0	19,400	0	0	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	-9,678	-12,866	45,040	0	-19,400	19,400	0	-19,400	-4,550	-6,050	0	0	0	30,000
share issue	0	0	0	0	0	1	0	0	0	0	0	0	0	65,153
interest	-971	-908	0	-679	26	0	40	58	1,784	2,531	1,711	675	539	276
cash flow from financing	-10,649	-13,774	45,040	-679	-19,374	-1,190,217	240,646	949,670	-2,766	-3,519	1,711	675	539	95,429
cash and cash equivalents
cash	-181,830	201,255	59,554	78,373	12,717	-471,737	329,342	141,887	-272,422	-26,522	354,675	59,639	-5,145	110,309
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	-181,830	201,255	59,554	78,373	12,717	-471,737	329,342	141,887	-272,422	-26,522	354,675	59,639	-5,145	110,309

P&L

March 2023

turnover

5.9m

-14%

operating profit

24.5k

-57%

gross margin

11.7%

+34.51%

turnover

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

Balance Sheet

March 2023

net assets

572.1k

+0.17%

total assets

3.8m

-0.05%

cash

390.1k

-0.32%

net assets

Total assets minus all liabilities

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company number

01544888

Type

Private limited with Share Capital

industry

28290 - Manufacture of other general-purpose machinery n.e.c.

incorporation date

February 1981

age

accounts

Audited Abridged

ultimate parent company

GM STEEL HOLDINGS LIMITED

previous names

abachem engineering limited (August 2023)

gm steel newark limited (July 2023)

incorporated

address

jessop way, newark, notts, NG24 2ER

last accounts submitted

March 2023

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 g m steel newark limited. Currently there are 3 open charges and 2 have been satisfied in the past.

g m steel newark limited Company Information

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g m steel newark limited Estimated Valuation

g m steel newark limited Estimated Valuation

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