MIRA
INFORM REPORT
|
Report Date : |
23rd
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
INNOSPEC
ENVIRONMENTAL LIMITED |
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Registered Office : |
Innospec
Manufacturing Park, Oil Sites Road, Ellesmere Port, Merseyside, Ch65 4ey |
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Country : |
United
Kingdom |
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Financials (as on) : |
31/12/2004 |
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Date of Incorporation : |
11/05/2001 |
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Com. Reg. No.: |
04214556 |
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Legal Form : |
Private
Limited with share capital |
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Line of Business : |
Environmental
services |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company Identification Details
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Subject
Reported on |
INNOSPEC
ENVIRONMENTAL LIMITED |
|
Holding
Company |
INNOSPEC
LIMITED |
|
Ultimate
Holding Company |
OCTEL
CORP |
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Risk
Score |
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Low
Risk - There is a high degree of confidence this company will prove good for
the assigned Credit Limit |
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Credit
Limit |
GBP304,900 |
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Selling
to this company? The Credit Limit is the recommended maximum outstanding
debtor exposure at any one time. |
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Contract
Limit |
GBP2,338,800 |
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Buying
from this company? The Contract Limit is the recommended aggregate annual
value for supply contracts. |
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Official Company Data
|
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|
Legal
Form |
Private
Limited with share capital |
|
Registration
Number |
04214556 |
|
Date
of Incorporation |
11/05/2001 |
|
Registered
Office |
INNOSPEC
MANUFACTURING PARK, OIL SITES ROAD, ELLESMERE PORT, MERSEYSIDE, CH65 4EY . |
|
History |
12/06/2006 : Change of name from OCTEL
ENVIRONMENTAL LIMITED |
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|
11/07/2001 : Change of name from HAMSARD 2317
LIMITED |
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Date
of Last Annual Return to Registry |
11/05/2006 |
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Activities |
ENVIRONMENTAL
SERVICES - - |
|
Accounts |
The
last filed accounts cover the period to 31/12/2004 and were presented to
Companies House on 06/07/2005 |
Recently Filed
Documents
Details of the
most recent documents
|
Date Received |
Description |
|
28/04/2005 |
Notification
Of A Change Among The Directors Of A Company |
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20/12/2002 |
Notification
Of A Change Among The Directors Of A Company |
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02/11/2001 |
Documents
Making Or Evidencing An Alteration In The Memorandum Or Articles Of
Association |
|
05/10/2001 |
Notification
Of A Change Among The Directors Of A Company |
|
26/09/2001 |
Documents
Making Or Evidencing An Alteration In The Memorandum Or Articles Of
Association |
|
26/09/2001 |
Resolutions
Of A Public Company Which Give, Vary, Revoke, Or Renew An Authority For The
Purposes Of Section 80 (Allotment Of Relevant Securities) |
|
26/09/2001 |
Special
Resolutions Of A Public Company Passed Under Section 95(1), (2), Or (3)
(Disapplication Of Pre-Emption Rights) |
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It should be noted that there is no legal
requirement to file satisfaction details of mortgages/charges at Companies
House. |
Known Directors
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
FLAT 3 PARK GATE , BRADGATE ROAD
, ALTRINCHAM , CHESHIRE , WA14 4QJ |
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Country of Origin |
BRITISH |
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Date of Birth |
26/03/1957 |
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Appointment Date |
02/12/2002 |
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Other Appointments |
INNOSPEC (PLANT)
LIMITED, INNOSPEC LIMITED, VALVEMASTER PERFORMANCE CHEMICALS LIMITED, VALVEMASTER
LIMITED, OCTEL LIMITED, A K C TRADING LIMITED, OCTEL NO. 1
LIMITED, INNOSPEC INTERNATIONAL LIMITED, INNOSPEC FUEL SPECIALTIES
LIMITED, INNOSPEC TRADING LIMITED, INNOSPEC DEVELOPMENTS
PLC, OCTEL INNOVATIONS LIMITED, INNOSPEC VALVEMASTER LIMITED, INNOSPEC
HOLDINGS LIMITED, AROMA FINE CHEMICALS LIMITED, INNOSPEC
PERFORMANCE CHEMICALS LIMITED, INNOSPEC ALCHEMY, INNOSPEC FINANCE
LIMITED, INNOSPEC ENTERPRISES LIMITED |
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DIRECTOR |
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Occupation |
COMPANY SECRETARY |
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Address |
SEYMOUR HOUSE
12, SEYMOUR CHASE , KNUTSFORD , CHESHIRE , WA16 9BY |
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Country of Origin |
BRITISH |
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Date of Birth |
10/11/1956 |
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Appointment Date |
15/04/2005 |
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Other Appointments |
INNOSPEC (PLANT)
LIMITED, INNOSPEC LIMITED, VALVEMASTER PERFORMANCE CHEMICALS
LIMITED, VALVEMASTER LIMITED, OCTEL LIMITED, A K C TRADING
LIMITED, OCTEL NO. 1 LIMITED, INNOSPEC INTERNATIONAL
LIMITED, INNOSPEC FUEL SPECIALTIES LIMITED, INNOSPEC TRADING LIMITED, INNOSPEC
DEVELOPMENTS PLC, OBOADLER COMPANY LIMITED, OCTEL INNOVATIONS
LIMITED, INNOSPEC VALVEMASTER LIMITED, INNOSPEC HOLDINGS
LIMITED, AROMA FINE CHEMICALS LIMITED, INNOSPEC PERFORMANCE
CHEMICALS LIMITED, OCTEL EXHAUST SYSTEMS LIMITED, BEARS HEAD FARM
MANAGEMENT COMPANY LIMITED, INNOSPEC ALCHEMY, INNOSPEC FINANCE
LIMITED, GLORYCLEAR LIMITED |
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SECRETARY
|
ANDREW
HARTLEY |
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Address |
SEYMOUR HOUSE 12
, SEYMOUR CHASE , KNUTSFORD , CHESHIRE , WA16 9BY |
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Country of Origin |
BRITISH |
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Date of Birth |
10/11/1956 |
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Appointment Date |
15/04/2005 |
Recently Resigned Directors (last
3)
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DIRECTOR |
DENNIS
GRAHAM JOHN KERRISON |
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Occupation |
COMPANY DIRECTOR |
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Address |
CONSORT HOUSE 45-46 , QUEENS GATE
, LONDON , - - |
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Country of Origin |
BRITISH |
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Date of Birth |
14/08/1944 |
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Resignation Date |
15/04/2005 |
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DIRECTOR |
MR
ALAN GEOFFREY JARVIS |
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Address |
COB HALL , HOOFIELD LANE , CHESTER
, - - |
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Date of Birth |
08/08/1949 |
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Resignation Date |
02/12/2002 |
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DIRECTOR |
HSE
DIRECTORS LIMITED - |
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Address |
7 , DEVONSHIRE SQUARE , LONDON , - - |
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Resignation Date |
11/07/2001 |
Share Summary
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Share
Currency: |
GBP |
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Issued
at date of report: |
500,001 ORD |
Shares
of 100 pence each |
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Prinicipal
Shareholders: |
Type Of Share |
No.
of Shares |
Value |
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THE
ASSOCIATED OCTEL COMPANY LIMITED |
ORD |
500,001
|
500,001.00 |
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Mortgages and Charges
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There
are no mortgages |
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Public Record Information
Summary of CCJ's/Scottish Decrees
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There
are no unsatisfied CCJs against the company. |
Operations
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Activities |
ENVIRONMENTAL
SERVICES - - |
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Sic
Code |
Description |
|
7487 |
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Staff
Employed |
0 |
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Auditors |
PRICEWATERHOUSECOOPERS
LLP |
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Auditors
Notes |
No
Qualification. The Auditors have expressed a clean opinion (i.e. unqualified
with no referrals) on the accounts for the period ended 31/12/2004. |
|
Bankers |
BARCLAYS
BANK PLC |
Financial Data
Profit and Loss
|
|
The
following figures are shown in units of GBP '000 |
|
Number
of Weeks |
52 |
52 |
52 |
34 |
|
Accounts
Date |
31/12/2004 |
31/12/2003 |
31/12/2002 |
31/12/2001 |
|
Currency |
GBP '000
|
GBP '000
|
GBP '000
|
GBP '000
|
|
Consolidated? |
No |
No |
No |
No |
|
SALES |
3,074 |
2,073 |
2,559 |
719 |
|
Cost
of goods sold |
1,227 |
500 |
1,253 |
0 |
|
GROSS
PROFIT |
1,847 |
1,573 |
1,306 |
719 |
|
Other
Expenses |
688 |
430 |
259 |
199 |
|
Auditors
Fees |
- |
- |
0 |
2 |
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Depreciation |
32 |
9 |
0 |
3 |
|
Operating
Profit |
1,159 |
1,143 |
1,047 |
520 |
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Non
Trading Income |
72 |
0 |
6 |
0 |
|
PRE
TAX PROFIT |
1,231 |
1,143 |
1,053 |
520 |
|
Taxation |
366 |
348 |
321 |
164 |
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PROFIT
AFTER TAX |
865 |
795 |
732 |
356 |
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RETAINED
PROFITS |
865 |
795 |
732 |
356 |
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Balance Sheet
|
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|
The
following figures are shown in units of GBP '000 |
|
|
Number
of Weeks |
52 |
52 |
52 |
34 |
|
Accounts
Date |
31/12/2004 |
31/12/2003 |
31/12/2002 |
31/12/2001 |
|
Currency |
GBP '000
|
GBP '000
|
GBP '000
|
GBP '000
|
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL
FIXED ASSETS |
340 |
230 |
64 |
73 |
|
Tangible
Assets |
340 |
230 |
64 |
73 |
|
Fixed
Assets |
340 |
230 |
64 |
73 |
|
TOTAL
CURRENT ASSETS |
3,656 |
3,315 |
2,256 |
1,129 |
|
Total
Debtors |
3,599 |
3,237 |
2,246 |
799 |
|
Trade
Debtors |
306 |
1,140 |
1,082 |
537 |
|
Group
Loans |
2,982 |
1,972 |
725 |
0 |
|
Director
Loans |
0 |
0 |
0 |
262 |
|
Other
Debtors |
311 |
125 |
439 |
0 |
|
Stocks/WIP |
45 |
60 |
0 |
0 |
|
Work
in Progress |
45 |
- |
0 |
0 |
|
Cash |
12 |
18 |
10 |
330 |
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TOTAL
ASSETS |
3,996 |
3,545 |
2,320 |
1,202 |
|
TOTAL
CURRENT LIABILITIES |
956 |
1,384 |
968 |
346 |
|
Trade
creditors |
102 |
71 |
52 |
83 |
|
Due
From Group |
0 |
153 |
155 |
0 |
|
Corporation
Tax |
496 |
543 |
211 |
164 |
|
Other
Current Liabilities |
159 |
364 |
289 |
0 |
|
Misc
Current Liabilities |
199 |
253 |
261 |
99 |
|
WORKING
CAPITAL |
2,700 |
1,931 |
1,288 |
783 |
|
TOTAL
LONG TERM LIABS |
33 |
19 |
5 |
0 |
|
Total
Provisions |
33 |
19 |
5 |
0 |
|
NET
ASSETS/(LIABILITIES) |
3,007 |
2,142 |
1,347 |
856 |
|
SHARE
CAPITAL + RESERVES |
3,007 |
2,142 |
1,347 |
856 |
|
Issued
Share Capital |
500 |
500 |
500 |
500 |
|
Profit
and Loss account |
2,507 |
1,642 |
847 |
356 |
|
SHAREHOLDERS
FUNDS |
3,007 |
2,142 |
1,347 |
856 |
|
CAPITAL
EMPLOYED |
3,040 |
2,161 |
1,352 |
856 |
|
|
|
Key Credit Ratios
|
|
|
Accounts
Date |
31/12/2004 |
31/12/2003 |
31/12/2002 |
31/12/2001 |
|
Current
Ratio |
3.82 |
2.40 |
2.33 |
3.26 |
|
Long
Term Debt/T.N.W (%) |
0.00 |
0.00 |
0.00 |
0.00 |
|
Profit
Before Tax |
40.05 |
55.14 |
41.15 |
72.32 |
|
Debtors
Days (D.S.O) |
36.33 |
200.72 |
154.33 |
178.24 |
|
Creditors
Days (D.P.O) |
30.34 |
51.83 |
15.15 |
- |
|
Quick
Ratio |
3.78 |
2.35 |
2.33 |
3.26 |
|
Return
on Assets |
30.81 |
32.24 |
45.39 |
66.16 |
|
T.N.W/Total
Assets |
75.25 |
60.42 |
58.06 |
71.21 |
|
Return
on Capital |
40.49 |
52.89 |
77.88 |
92.91 |
|
Rtn
on Shareholders Funds |
40.94 |
53.36 |
78.17 |
92.91 |
|
Working
Capital/Sales |
87.83 |
93.15 |
50.33 |
71.20 |
|
Borrowing
Ratio |
- |
7.14 |
11.51 |
- |
|
Equity
Gearing |
75.25 |
60.42 |
58.06 |
71.21 |
|
Stock
Turnover |
68.31 |
34.55 |
- |
- |
|
|
Financial Comparison
|
|
The
following figures are shown in units of GBP '000 |
|
Number
of Weeks |
52 |
52 |
52 |
34 |
|
Accounts
Date |
31/12/2004 |
31/12/2003 |
31/12/2002 |
31/12/2001 |
|
Currency |
GBP '000
|
GBP '000
|
GBP '000
|
GBP '000
|
|
Auditors
Remuneration |
- |
- |
0 |
2 |
|
Other
Deferred Liabs |
0 |
0 |
0 |
0 |
|
Tangible
Net Worth(T.N.W) |
3,007 |
2,142 |
1,347 |
856 |
|
Equity |
3,007 |
2,142 |
1,347 |
856 |
|
Number
of Employees |
0 |
- |
- |
- |
|
|
|
Key Industry Sector Trends
|
|
|
|
Company |
Industry Averages |
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|
|
31/12/2004 |
Lower |
Median |
Upper |
|
Current
Ratio |
3.82 |
0.7 |
1 |
1.8 |
|
Return
on Capital |
40.49 |
8.7 |
99.1 |
28865.3 |
|
Credit
Period |
36.33 |
0.2 |
14.1 |
38.5 |
|
This
comparison is based on the results of 0317748 companies in the same
industrial sector: business services nes |
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|
|
Financial Summary
|
|
|
Turnover |
Turnover
increased by more than 48% in the period. Turnover totalled
GBP 3,074,000 for the period. |
|
Operating
Profit |
Totalled
GBP 1,159,000 In the period prior a profit of GBP 1,143,000 was
achieved. |
|
Pre
Tax |
The
subject made a profit of GBP 1,231,000 compared with a profit of
GBP 1,143,000 in the previous period. |
|
Working
Capital |
The
company's working capital improved in the period by 40% |
|
Tangible
Net Worth |
Net
worth increased by 865,000 during the period and now stands at
GBP 3,007,000 |
|
Fixed
Assets |
The
subjects fixed assets increased during the period by GBP 110,000 to
GBP 340,000 and are now 9% of total assets compared with 6% in the
previous period |
|
Long
Term Liabilities |
The
company's long term liabilities increased during the period by 74% and are
now 1% of net worth compared with 1% in the previous period |
|
Long
Term Liabilities |
Long
term liabilities are now 1% of total assets compared with 1% in the previous
period |
|
Long
Term Liabilities |
Long
term liabilities are 1% of capital employed an increase of 0% 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 |