MIRA INFORM REPORT

 

 

Report Date :

13th June, 2006.

 

IDENTIFICATION DETAILS

 

Name :

ETHIMEX LIMITED

 

 

Registered Office :

19 York Road, Maidenhead, Berkshire, SL6 1SQ.

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.04.2005

 

 

Date of Incorporation :

22/04/1999

 

 

Com. Reg. No.:

03757834

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Trading of bulk ethanol from 90% vol up to 99% vol of all grades, raw materials and origins.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

 

Company Identification Details

 

 

Subject Reported on

ETHIMEX LIMITED

Address

NORTH BUILDINGS WALDO WORKS, WALDO ROAD, LONDON, NW10 6AW.

Telephone

020 8968 2104

Facsimile

020 8968 1977

Email

charles.edge@ethimex.com

Web Address

www.ethimex.com

 

Creditline Recommendations

 

 

Graydon Rating
 
 

5A
GBP 500k-999k financial strength rating based on net worth plus net current assets/liabilities

Monthly Credit Guide

GBP 80,000

Risk Category

LOW RISK

 

 

Official Company Data

 

Legal Form

Private Limited

Registration Number

03757834

Date of Incorporation

22/04/1999

Registered Office

19 YORK ROAD, MAIDENHEAD, BERKSHIRE, SL6 1SQ.

History

4/06/1999 : The Registered Office address changed from 1 MITCHELL LANE, BRISTOL, AVON, BS1 6BZ.

 

7/07/1999 : Change of name from CAMSURF LIMITED.

 

12/06/2001 : Change of name from CHEMSURF LIMITED.

Date of Last Annual Return to Registry

22/04/2006

Accounts

The last filed accounts at Companies House are those to 30/04/2005

Accounting Reference Date

30/04

 

 

 

Operations

 

 

 

Activities

Trading of bulk ethanol from 90% vol up to 99% vol of all grades, raw materials and origins.

Nace Code

5155

Premises

Leased,Offices

Staff Employed

7

Import Countries

ALL OVER THE WORLD

Export Countries

ALL OVER THE WORLD

Auditors

Higgins Day

Branches

UNIT 2-3, WALDO RD, LONDON, NW10 6AF.

 

Historical Graydon Rating

 

 

 

Date

Graydon Rating

Monthly Credit Guide

13/06/2006

5A

80,000

13/03/2006

5B

50,000

13/12/2005

6B

30,000

13/09/2005

6B

30,000

13/06/2005

6B

30,000

 

 

Public Record Information

 

 

Summary of CCJ's/Scottish Decrees

 

 

No CCJs/Scottish Decrees are recorded in our file.

 

 

 

Other Filings and Notices

 

 

Date

Source

Description

 

18/05/2000

Companies House Gazette

Change among the directors of a company

04/06/1999

Companies House Gazette

Change among the directors of a company

 

 

Company Secretary

 

 

 

Secretary

YORK SECRETARIES LIMITED

Address

19 YORK ROAD, MAIDENHEAD, BERKSHIRE, SL6 1SQ.

Country of Origin

UNITED KINGDOM

Appointment Date

14/05/1999

 

 

Directors

 

 

 

Director

CHARLES EDWARD EDGE

Address

FLAT 2 12 HORBURY CRESCENT, LONDON, W11 3NF.

Country of Origin

UNITED KINGDOM

Date of Birth

04/11/1968

Appointment Date

14/05/1999

Other Directorships

ETHIMEX TRADING LIMITED, ETHANOLXCHANGE LIMITED, ALCOCOM LIMITED


Director


DAVID EDWARD ALEXANDER EDGE

Address

APT 102 EPAMINONDOU STR, ONISILDS COURT BLOCK A APT 102, 3075 LIMASSOL.

Country of Origin

UNITED KINGDOM

Date of Birth

27/04/1938

Appointment Date

14/05/1999

Other Directorships

ETHANOLXCHANGE LIMITED

 

 

Share Capital

 

 

 

Shares

Ordinary GBP 1.00

Issued Number

100

Principal Shareholder

95 David Edge

 

5 Charles Edge

 

The above reflects the principle shareholder(s) by number of shares held, irrespective of share classification type.

 

 

Payment Analysis

 

 

( No Payment Analysis Data is Available )

 

 

Financial Data

 

 

Profit & Loss Accounts are not available for companies categorised as small companies under the companies act.

 

 

For annual accounts images, view the Document Image list

 

Balance Sheet

 

 

The following figures are shown in units of 1000

 

 

Number of Weeks

52

52

52

52

Accounts Date

30/04/2005

30/04/2004

30/04/2003

30/04/2002

Currency

GBP

GBP

GBP

GBP

TOTAL FIXED ASSETS

245

21

22

21

Tangible Assets

245

21

22

21

TOTAL CURRENT ASSETS

1340

1046

726

466

Trade debtors

727

627

294

218

Stocks

222

237

104

34

Other Current Assets

391

182

328

214

Cash

391

182

328

214

TOTAL ASSETS

1585

1067

748

487

TOTAL CURRENT LIABILITIES

1076

868

602

373

Trade creditors

1076

868

602

373

WORKING CAPITAL

264

178

124

93

TOTAL LONG TERM LIABS

32

31

9

19

NET ASSETS/(LIABILITIES)

477

168

137

95

SHARE CAPITAL + RESERVES

477

168

137

95

Profit and Loss account

477

168

137

95

SHAREHOLDERS FUNDS

477

168

137

95

CAPITAL EMPLOYED

509

199

146

114

 

Financial Comparison

 

 

The following figures are shown in units of 1000

 

 

Number of Weeks

52

52

52

52

Accounts Date

30/04/2005

30/04/2004

30/04/2003

30/04/2002

Currency

GBP

GBP

GBP

GBP

Liquid Assets

1118

809

622

432

Net Working Capital

264

178

124

93

Other Deferred Liabs

32

31

9

19

Tangible Net Worth(T.N.W)

477

168

137

95

Equity

477

168

137

95

Number of Years Trading

6

5

4

3

 

 

Key Credit Ratios

 

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

30/04/2005

30/04/2004

30/04/2003

30/04/2002

Current Ratio

1.2

1.2

1.2

1.2

Quick Ratio

1

0.9

1

1.2

T.N.W/Total Assets%

30.1

15.7

18.3

19.5

Equity Gearing%

43.1

18.7

22.4

24.2

 

 

Key Industry Sector Trends

 

 

 

Year

2006

2005

2004

2003

Sample Size

70

4109

6671

6488

Pre-Tax Profit Margin

4.4

4.8

4.1

3.3

Current Ratio

1.8

1.5

1.4

1.4

Borrowing Ratio

130.8

90.3

97.1

106.3

Return on Capital

35.9

31.6

30.5

27.4

Creditors Days

43

50

63

61

 

 

Above figures relate to companies in 1992 Standard Industry Classification (Nace) sector : Wholesale of non-agricultural intermediate products, waste and scrap

 

 

Financial Summary

 

 

Auditors Qualification

 

The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 30/04/2005.

 

 

No Turnover

 

The company's balance sheet total is less than GBP 5,600,000 and is a medium sized company as defined by the Companies Act. It is not required to disclose turnover but it is likely to be in the range of GBP 2,800,000 - GBP 11,200,000.

 

 

No Pre-Tax Profit

 

The Company is exempt from the requirement to file a Profit Loss Account. We note that the difference on the Shareholders Funds shown on the Balance Sheet is GBP 309,000 increase. This suggests that the Company may have made a post-tax profit of GBP 309,000.

 

 

Working Capital

 

The company's working capital has increased by 48 % in the period.

 

 

Net Worth

 

Net worth has increased by 184 % and now stands at GBP 477,000.

 

 

Fixed Assets

 

The subject's fixed assets increased during the year by GBP 224,000 to GBP 245,000 and are now 15 % of total assets compared with 1 % in the previous year.

 

 

Long Term Liabilities

 

The company's long term liabilities increased during the period by 3% and are now 7 % of net worth compared with 18 % in the previous period.

 

 

Long Term Liabilities

 

Long term liabilities are now 2 % of total liabilities compared with 3 % in the previous period.

 

 

Long Term Liabilities

 

Long term liabilities are 6 % of capital employed, a decrease of 10 % over the previous period.

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions