MIRA
INFORM REPORT
|
Report Date : |
24th
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
ARMADILLO
INDUSTRIES LIMITED |
|
|
|
|
Registered Office : |
9
Haviland Road, Ferndown Industrial Esta, Wimborne, Dorset, Bh21 7rz |
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|
|
|
Country : |
United
Kingdom |
|
|
|
|
Financials (as on) : |
31-03/2005 |
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|
|
|
Date of Incorporation : |
14/01/2002 |
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Com. Reg. No.: |
04352756 |
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|
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|
Legal Form : |
Private
Limited with share capital |
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|
|
|
Line of Business : |
Engaged
in the business of importing, assembling and selling of roll top covers to
the motor trade |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Status : |
Moderate
|
|
|
|
|
Payment Behaviour : |
Usually
Correct |
|
|
|
|
Litigation : |
Clear |
Company Identification Details
|
|
|
|
Subject
Reported on |
ARMADILLO
INDUSTRIES LIMITED |
|
Holding
Company |
HUNT
AND PALMER PLC |
|
Ultimate
Holding Company |
HUNT
AND PALMER PLC |
|
Trading
Address |
9
Haviland Road, Ferndown Industrial Estate, Wimborne, Dorset, BH21 7RZ |
|
Telephone |
01202
897111 |
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Risk
Score |
|
|
|
|
Average
Risk - This company has an average risk status and should be treated with a
degree of caution |
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|
|
|
|
|
Credit
Limit |
GBP4,000 |
|
|
|
Selling
to this company? The Credit Limit is the recommended maximum outstanding
debtor exposure at any one time. |
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|
|
|
|
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Contract
Limit |
GBP35,100 |
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|
|
Buying
from this company? The Contract Limit is the recommended aggregate annual
value for supply contracts. |
|
Official Company Data
|
|
|
|
Legal
Form |
Private
Limited with share capital |
|
Registration
Number |
04352756 |
|
Date
of Incorporation |
14/01/2002 |
|
Registered
Office |
9
HAVILAND ROAD, FERNDOWN INDUSTRIAL ESTA, WIMBORNE, DORSET, BH21 7RZ . |
|
Date
of Last Annual Return to Registry |
14/01/2006 |
|
Activities |
IMPORTING,
ASSEMBLING AND SELLING OF ROLL TOP COVERS TO THE MOTOR TRADE. - - |
|
Accounts |
The
last filed accounts cover the period to 31/03/2005 and were presented to
Companies House on 17/11/2005 |
Recently Filed
Documents
Details of the
most recent documents
|
Date Received |
Description |
|
17/09/2005 |
Notification
Of A Change Among The Directors Of A Company |
|
14/07/2005 |
Notification
Of A Change Among The Directors Of A Company |
|
02/07/2005 |
Notification
Of A Change Among The Directors Of A Company |
|
01/07/2003 |
Documents
Making Or Evidencing An Alteration In The Memorandum Or Articles Of
Association |
|
01/07/2003 |
Notification
Of A Change Among The Directors Of A Company |
|
01/07/2003 |
Notification
Of A Change Among The Directors Of A Company |
|
01/07/2003 |
Resolutions
Of A Public Company Which Give, Vary, Revoke, Or Renew An Authority For The
Purposes Of Section 80 (Allotment Of Relevant Securities) |
|
01/07/2003 |
Resolutions
Or Agreements To Which Section 380 Applies (Relating To Shares, Rights, Or
Names) |
|
20/03/2002 |
Notification
Of A Change Among The Directors Of A Company |
|
19/01/2002 |
Notification
Of A Change Among The Directors Of A Company |
|
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 |
CEO |
||
|
Address |
14, MILNER ROAD ST ANDREWS , GAUTENG
, SOUTH AFRICA , |
||
|
Date of Birth |
24/04/1945 |
||
|
Appointment Date |
17/06/2003 |
||
|
DIRECTOR |
|
||
|
Occupation |
COMPANY DIRECTOR |
||
|
Address |
22, SWAN MEAD HIGHTOWN , RINGWOOD
, HANTS , BH24 3RD |
||
|
Date of Birth |
08/12/1967 |
||
|
Appointment Date |
17/06/2003 |
||
|
Other Appointments |
ROLLERSTYLE UK LIMITED, ARMADILLO CONCEPTS
UK LTD, ALU-SHUTTER SYSTEMS LIMITED |
||
|
DIRECTOR |
|
||
|
Occupation |
SALES & MARKETING DIRECTOR |
||
|
Address |
2, SPINNEY CLOSE ST LEONARDS
, RINGWOOD , HANTS , BH24 2RB |
||
|
Country of Origin |
BRITISH |
||
|
Date of Birth |
18/07/1970 |
||
|
Appointment Date |
01/07/2005 |
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|
Other Appointments |
AFRICAN ART LIMITED |
||
|
DIRECTOR |
|
||
|
Occupation |
TECHNICAL MANAGER |
||
|
Address |
27, PICKET CLOSE , FORDINGBRIDGE
, HANTS , SP6 1JX |
||
|
Country of Origin |
BRITISH |
||
|
Date of Birth |
19/08/1980 |
||
|
Appointment Date |
01/09/2005 |
||
|
SECRETARY
|
MARGARET
SMITH |
||
|
Address |
12 , WILLOW CLOSE , RINGWOOD
, HANTS , BH24 2RQ |
||
|
Country of Origin |
BRITISH |
||
|
Date of Birth |
14/06/1969 |
Recently Resigned Directors (last 3)
|
|
|
|
DIRECTOR |
JAMES
STUART MARTIN |
|
Occupation |
DIRECTOR |
|
Address |
ORCHARD HOUSE , KINGSLEY GREEN
, HASLEMERE , SURREY , - - |
|
Country of Origin |
BRITISH |
|
Date of Birth |
06/02/1953 |
|
Resignation Date |
30/06/2005 |
|
DIRECTOR |
DARREN
TILLEY |
|
Occupation |
COMPANY DIRECTOR |
|
Address |
93A , GREENWICH SOUTH STREET , LONDON
, - - |
|
Country of Origin |
BRITISH |
|
Date of Birth |
07/08/1973 |
|
Resignation Date |
30/06/2005 |
|
DIRECTOR |
HELEN
DOROTHY ELIZABETH PENNINGTON |
|
Occupation |
EDUCATIONALIST |
|
Address |
FERNDENE , APPLELANDS CLOSE , FARNHAM
, SURREY , - - |
|
Date of Birth |
18/10/1943 |
|
Resignation Date |
17/01/2002 |
Share Summary
|
Share
Currency: |
GBP |
||||||||
|
Issued
at date of report: |
45,000 ORD
A |
Shares
of 100 pence each |
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Prinicipal
Shareholders: |
Type
Of Share |
No.
of Shares |
Value |
|
|
|
|
|
|
|
SHANE
SMITH |
ORD A |
22,500
|
22,500.00 |
|
|
|
|
|
|
|
SIMON
SHAW |
ORD A |
22,500
|
22,500.00 |
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|
|
|
|
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Mortgages and Charges
|
|
|
|
Total
Registered |
1 |
|
Total
Outstanding |
1 |
|
Total
Satisfied |
0 |
|
Most
Recent Mortgage |
31/12/2004 |
|
|
|
|
|
|
|
Date
Registered |
06/01/2005 |
|
Type |
395 |
|
Date
Created |
31/12/2004 |
|
Lender |
HSBC
BANK PLC |
|
Secured
On |
ALL
MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
|
Details |
FIXED
AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT
AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES
FIXED PLANT AND MACHINERY |
|
Satisfied? |
No |
Public Record Information
Summary of CCJ's/Scottish Decrees
|
There
are no unsatisfied CCJs against the company. |
Operations
|
|
|
|
Activities |
IMPORTING,
ASSEMBLING AND SELLING OF ROLL TOP COVERS TO THE MOTOR TRADE. - - |
|
Sic
Code |
Description |
|
7487 |
|
|
Auditors |
B T
KAY AND CO |
|
Auditors
Notes |
No
Qualification. The Auditors have expressed a clean opinion (i.e. unqualified
with no referrals) on the accounts for the period ended 31/03/2005. |
|
Bankers |
- |
Financial Data
Profit and Loss
|
|
The
following figures are shown in units of GBP '000 |
|
Number
of Weeks |
52 |
52 |
65 |
|
Accounts
Date |
31/03/2005 |
31/03/2004 |
31/03/2003 |
|
Currency |
GBP '000
|
GBP '000
|
GBP '000
|
|
Consolidated? |
No |
No |
No |
|
SALES |
1,585 |
1,215 |
383 |
|
Cost
of goods sold |
1,130 |
711 |
238 |
|
GROSS
PROFIT |
455 |
504 |
145 |
|
Other
Expenses |
444 |
488 |
150 |
|
Wages
and Salaries |
- |
112 |
26 |
|
Directors
Emoluments |
37 |
70 |
- |
|
Auditors
Fees |
- |
4 |
- |
|
Depreciation |
35 |
14 |
7 |
|
Operating
Profit |
- |
- |
-5 |
|
Non
Trading Income |
0 |
1 |
1 |
|
Exceptional
Items |
0 |
-1 |
0 |
|
Interest
Payable |
0 |
0 |
0 |
|
PRE
TAX PROFIT |
11 |
16 |
-4 |
|
Taxation |
4 |
1 |
0 |
|
PROFIT
AFTER TAX |
- |
15 |
-4 |
|
RETAINED
PROFITS |
- |
15 |
-4 |
|
|
|
Balance Sheet
|
|
|
The
following figures are shown in units of GBP '000 |
|
|
Number
of Weeks |
52 |
52 |
65 |
|
Accounts
Date |
31/03/2005 |
31/03/2004 |
31/03/2003 |
|
Currency |
GBP '000
|
GBP '000
|
GBP '000
|
|
Consolidated? |
No |
No |
No |
|
TOTAL
FIXED ASSETS |
44 |
41 |
21 |
|
Tangible
Assets |
44 |
41 |
21 |
|
Fixed
Assets |
44 |
41 |
21 |
|
TOTAL
CURRENT ASSETS |
420 |
412 |
299 |
|
Total
Debtors |
- |
56 |
107 |
|
Trade
Debtors |
- |
49 |
96 |
|
Other
Debtors |
- |
7 |
10 |
|
Stocks/WIP |
- |
64 |
121 |
|
Stocks |
- |
64 |
121 |
|
Cash |
- |
292 |
72 |
|
Other
Current Assets |
420 |
0 |
0 |
|
TOTAL
ASSETS |
464 |
453 |
320 |
|
TOTAL
CURRENT LIABILITIES |
401 |
350 |
224 |
|
Trade
creditors |
323 |
139 |
192 |
|
Due
From Group |
0 |
- |
5 |
|
Other
Current Liabilities |
0 |
1 |
0 |
|
Misc
Current Liabilities |
74 |
211 |
27 |
|
WORKING
CAPITAL |
19 |
62 |
75 |
|
TOTAL
LONG TERM LIABS |
0 |
47 |
55 |
|
Due
From Group |
0 |
0 |
28 |
|
Long
Term Loans |
0 |
46 |
0 |
|
Director
Loans |
0 |
0 |
28 |
|
Total
Provisions |
0 |
1 |
0 |
|
NET
ASSETS/(LIABILITIES) |
63 |
56 |
41 |
|
SHARE
CAPITAL + RESERVES |
63 |
56 |
41 |
|
Issued
Share Capital |
- |
45 |
45 |
|
Profit
and Loss account |
18 |
11 |
-4 |
|
SHAREHOLDERS
FUNDS |
63 |
56 |
41 |
|
CAPITAL
EMPLOYED |
63 |
103 |
96 |
|
|
|
Key Credit Ratios
|
|
|
Accounts
Date |
31/03/2005 |
31/03/2004 |
31/03/2003 |
|
Current
Ratio |
1.05 |
1.18 |
1.34 |
|
Long
Term Debt/T.N.W (%) |
0.00 |
82.44 |
134.35 |
|
Profit
Before Tax |
0.70 |
1.31 |
-1.06 |
|
Debtors
Days (D.S.O) |
- |
14.61 |
114.86 |
|
Creditors
Days (D.P.O) |
104.19 |
71.40 |
366.85 |
|
Quick
Ratio |
1.05 |
0.99 |
0.80 |
|
Return
on Assets |
2.39 |
3.52 |
-1.02 |
|
T.N.W/Total
Assets |
13.60 |
12.31 |
12.81 |
|
Return
on Capital |
17.54 |
15.49 |
-3.39 |
|
Rtn
on Shareholders Funds |
17.54 |
28.56 |
-7.94 |
|
Working
Capital/Sales |
1.19 |
5.08 |
24.50 |
|
Borrowing
Ratio |
47.23 |
82.44 |
147.66 |
|
Equity
Gearing |
13.60 |
12.31 |
12.81 |
|
Stock
Turnover |
- |
18.89 |
2.54 |
|
|
Financial Comparison
|
|
The
following figures are shown in units of GBP '000 |
|
Number
of Weeks |
52 |
52 |
65 |
|
Accounts
Date |
31/03/2005 |
31/03/2004 |
31/03/2003 |
|
Currency |
GBP '000
|
GBP '000
|
GBP '000
|
|
Directors
Remuneration |
37 |
70 |
- |
|
Auditors
Remuneration |
- |
4 |
- |
|
Other
Deferred Liabs |
0 |
0 |
0 |
|
Tangible
Net Worth(T.N.W) |
63 |
56 |
41 |
|
Equity |
63 |
56 |
41 |
|
Number
of Employees |
- |
4 |
3 |
|
|
|
Financial Summary
|
|
|
Turnover |
Turnover
increased by more than 30% in the period. Turnover totalled
GBP 1,585,242 for the period. |
|
Pre
Tax |
The
subject made a profit of GBP 11,069 compared with a profit of
GBP 15,938 in the previous period. |
|
Working
Capital |
The
company's working capital decreased in the period by 69% |
|
Tangible
Net Worth |
Net
worth increased by 7,298 during the period and now stands at GBP 63,097 |
|
Fixed
Assets |
The
subjects fixed assets increased during the period by GBP 2,977 to
GBP 44,182 and are now 10% of total assets compared with 9% in the
previous period |
|
Long
Term Liabilities |
Long
term liabilities are now 0% of total assets compared with 10% in 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 |