SHIPS’ OFFICERS & CREW TRANSPORTATION SERVICE

0 Sq Ft
£195,000
  • Ref: HW1550
  • Type: SERVICES
  • Availability: For Sale
  • County: Hampshire
  • Make Enquiry

Property Features

  • SHIPS' OFFICERS & CREW TRANSPORTATION SERVICE TO AND FROM MAJOR UK PORTS & AIRPORTS
  • VEHICLE FLEET OF 6 MINIBUSES, 2 CARS & 1 TRAILER
  • HOME-BASED CLOSE TO PORT OF SOUTHAMPTON
  • 3-YEAR CONTRACT WITH A MAJOR CRUISE LINE
  • FAMILY-OWNED TRANSER SERVICE EST. 1982
  • ANNUAL REVENUES c.£390,000 GP c.£158,000 (41%)
  • ADJUSTED NET PROFITS OF £128,904

Property Summary

SHIPS' OFFICERS & CREW TRANSPORTATION SERVICE
TO AND FROM MAJOR UK PORTS & AIRPORTS
VEHICLE FLEET OF 6 MINIBUSES, 2 CARS & 1 TRAILER
HOME-BASED CLOSE TO PORT OF SOUTHAMPTON
3-YEAR CONTRACT WITH A MAJOR CRUISE LINE
FAMILY-OWNED TRANSER SERVICE EST. 1982
ANNUAL REVENUES c.£390,000 GP c.£158,000 (41%)
ADJUSTED NET PROFITS OF £128,904

LOCATION:
The vendors operate their business from home in Southampton. The business is relocatable.

BUSINESS:
Established in 1982, this privately-owned, private hire service specialises in transporting ships' officers and crew members to and from all leading UK ports and airports. The Husband & Wife team acquired the business from the previous owners in 2012. Over the past 10 years they have successfully increased not only the client base but also turnover and profits. Operating a fleet of 8 wholly-owned vehicles, the team of loyal, dependable, female drivers have built trusted relationships with their regular passengers. The families of ships' Captains and Officers are also driven to and from the UK's major ports and airports for their onward journeys. These trusted relationships are valued by the client companies and their employees. In addition to serving cruise lines and commercial shipping fleets, the business has extended its client profile to offer the NHS a transfer service for new recruits arriving from overseas and transporting them to the local NHS Training facility. A number of local Travel Agency clients are also now being served. The vendor holds a PSV licence and drives the 16-seater minibus
TRADE:
Accounts inspected by Adams & Co for the year ended 5tth of April 2021 show turnover (despite the impact of Covid-19 on the cruise industry) of £391,127 with gross profits of £158,597 (41%) and Adjusted Net profits of £128,904. This compares favourably with the previous year when turnover of £359,522 with gross profits of £108,528 and Adjusted Net profits of £75,455 were achieved. Following the opening up of the travel industry and the re-introduction of cruising holidays, the business enjoyed a spike in revenues with many ships being brought back into service simultaneously and at short notice. Revenues shown on the 4 VAT returns submitted to HMRC for the 12-month trading period between the 1st of March 2021 and the 28th of February 2022 hit £549,702 with estimated gross profits of £317,172 and estimated Adjusted Net Profits of £287,487.
Please note that all figures exclude VAT

STAFF:
The Vendors work full time in the business. He takes responsibility for journey planning, pricing and job allocation and drives on an as and when needed basis. He also holds a PSV licence and drives the larger Mini-Bus when required. He is supported in the management of the business by his wife who handles administration and deals with the accounts. The lady drivers are all self-employed and invoice the company with pre-agreed rates of remuneration calculated per journey. 3 of the drivers have between 5 and 10 years' experience working for the business.
VEHICLES
The following wholly-owned vehicles are included in the business sale:
MAKE MODEL REG NOTES
Ford PSV Minibus HD08 16 seater
Ford PSV Minibus YR09 10 seater
Ford Transit Minibus YS15 8 seater
Ford Transit Minibus AK61 8 seater
Ford Transit Minibus YM15 8 seater
Ford Transit Minibus GC14 8 seater
Skoda Octavia HK59
Skoda Superb PK13
Trailer Boxvan Debon C500 2020 Dble axle

LEGAL FEES:
Vendors and Buyers each to meet their own legal costs,
MEETING THE VENDORS
If you wish to discuss this business opportunity in greater detail, or arrange an appointment to meet with the Vendors, please call Nick on (023) 8025 3910