MIRA
INFORM REPORT
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Report Date : |
2nd November 2006 |
IDENTIFICATION
DETAILS
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Name : |
SARTRA INTERNATIONAL LIMITED |
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Registered Office : |
71 Hayes Hill, Hayes, Bromley, Kent, Br2 7hn. |
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Country : |
United Kingdom |
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Financials (as on) : |
31/03/2005 |
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Date of Incorporation : |
29/04/1983 |
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Com. Reg. No.: |
01719455 |
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Legal Form : |
Private Limited |
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Line of Business : |
Wholesalers and exporters of electrical goods including switch
sockets and generators |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Identification Details
Subject Reported on SARTRA INTERNATIONAL
LIMITED
Address UNIT E, FOREST
INDUSTRIAL PARK, ILFORD, ESSEX, IG6 3HY.
Telephone 0208 500 9933
Facsimile 0208 500 9768
Email trade@sartra.com
Web Address www.sartra.com
Creditline Recommendations
GBP 1m-5m financial strength rating based on net worth plus net
current assets/liabilities
Monthly Credit Guide GBP 76,500
Risk Category LOW NORMAL RISK
Official Company Data
Legal Form Private Limited
Registration Number 01719455
Date of Incorporation 29/04/1983
Registered Office 71 HAYES HILL, HAYES,
BROMLEY, KENT, BR2 7HN.
History 13/01/2006 : The Registered Office
address changed from IMPERIAL HOUSE, NORTH STREET, BROMLEY, KENT B.
19/01/2005 : The Registered Office
address changed from 39 CAMBERWELL CHURCH STREET, LONDON, SE5 8TR.
3/10/1998 : The Registered Office address changed from 2
WATERLOO COURT, 10 THEED STREET, LONDON, SE.
16/06/1992 : The Registered Office
address changed from 71 HAYES HILL, HAYES, BROMLEY, KENT, BR2 7HN.
Under present ownership since 1983.
Previously located at 71 HAYES HILL,HAYES,BROMLEY,KENT,BR2
7HN.
Date of Last Annual Return
to Registry 08/12/2005
Registered Objectives TO CARRY ON BUSINESS
AS DEALERS IN ALL MERCHANDISES
Accounts The last filed
accounts at Companies House are those to 31/03/2005
Accounting Reference Date 31/03
Operations
Activities Wholesalers and
exporters of electrical goods including switch sockets and
generators.
Nace Code 5143
Premises Leased,Offices,Warehouse
Staff Employed 35
Import Countries No Import Activity
Export Countries ALL OVER THE WORLD
Bankers BARCLAYS BANK PLC
Address HAINAULT.
Sort Code 204422
Auditors Downs & Co
Subsidiaries SARTRA INTERNATIONAL (PROJECTS) LIMITED
SWITCHLITE CO. LIMITED
Public Record Information
Summary of CCJ's/Scottish Decrees
No CCJs/Scottish Decrees are recorded in our file.
Summary of Mortgages, Charges and
Satisfactions
Total Number of Mortgages/Charges Registered 6
Number Outstanding 5
Number Partially Satisfied 0
Number Satisfied 1
Date of Latest Mortgage Created 17/06/2005
Date of Latest Satisfaction 26/03/1993
Details of most recent Mortgages,
Charges and Satisfactions
Date Fully
Satisfied Date
Registered Date
Created Charge
Description Form Type Lender
22/06/2005 17/06/2005 Legal Charge 395 Barclays
Bank Plc
15/02/2001 08/02/2001 Legal Charge 395 Barclays
Bank Plc
19/07/1993 06/07/1993 Legal Charge 395 Barclays
Bank Plc
26/04/1993 20/04/1993 Debenture 395 Barclays Bank Plc
07/10/1991 27/09/1991 Legal Charge N/A Barclays
Bank Plc
26/03/1993 29/12/1987 17/12/1987 Fixed
And
Floating
Charge N/A Midland Bank Plc
It should be noted that there is no legal requirement to file
satisfaction details of mortgages/charges at Companies House.
Other Filings and Notices
Date Source Description
06/06/1988 Companies
House Gazette Documents delivered by
a company under section 241 (annual accounts)
01/10/1987 Companies
House Gazette Change in the situation
of company's registered office
Company Secretary
Secretary MR JOHN
GEORGE BISHOP
Address 28 OVER MINNIS, NEW
ASH GREEN, LONGFIELD, KENT, DA3 8JA.
Country of Origin UNITED KINGDOM
Date of Birth 26/03/1947
Appointment Date 08/12/1991
Other Directorships WHITEHALL
MULTINATIONAL LIMITED
Directors
Director MR MICHAEL
JOHN CLARK
Address BALLCHRAGGAN BRAN
END, STEBBING, DUNMOW, ESSEX, CM6 3RP.
Country of Origin UNITED KINGDOM
Date of Birth 07/09/1948
Appointment Date 08/12/1991
Other Directorships WHITEHALL
MULTINATIONAL LIMITED
Director
MR JOHN GEORGE BISHOP
Address 28 OVER MINNIS, NEW
ASH GREEN, LONGFIELD, KENT, DA3 8JA.
Country of Origin UNITED KINGDOM
Date of Birth 26/03/1947
Appointment Date 08/12/1991
Other Directorships WHITEHALL
MULTINATIONAL LIMITED
Director
BRIAN GEORGE GROVES
Address 78 THE RIDGEWAY,
CHINGFORD, LONDON, E4 6PU.
Country of Origin UNITED KINGDOM
Date of Birth 22/12/1945
Appointment Date 08/12/1991
Other Directorships WHITEHALL
MULTINATIONAL LIMITED
Share Capital
Shares Ordinary GBP 1.00
each.
Issued Number 1,000
Principal Shareholder 600 Brian George
Groves
200 Michael John
Clark
200 John George
Bishop
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
For annual accounts images, view the Document Image list
Profit and Loss
The following figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 31/03/2005 31/03/2004 31/03/2003 31/03/2002
Consolidated Yes Yes Yes
Currency GBP GBP GBP GBP
SALES 13647 11863 12486 13811
UK sales 1920 1846 1411 1492
Export 11727 10017 11075 12319
Cost of goods sold 11472 10135 10665 12273
GROSS PROFIT 2175 1728 1821 1538
Wages and Salaries 819 785 824 860
Directors Emoluments 302 286 311 331
Auditors Fees 29 29 17 25
Non-Audit Fees 15 9 12
Trading Profit 465 226 235 (137)
Depreciation 37 42 45 51
OPERATING PROFIT 428 184 190 (188)
Non Trading Income 2 3 2
Interest Payable 11 18 49 30
PRE TAX PROFIT 419 166 144 (216)
Taxation 129 48 16 (7)
PROFIT AFTER TAX 290 118 128 (209)
RETAINED PROFITS 290 118 128 (209)
Balance Sheet
The following figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 31/03/2005 31/03/2004 31/03/2003 31/03/2002
Consolidated Yes Yes Yes
Currency GBP GBP GBP GBP
TOTAL FIXED ASSETS 885 909 936 981
Tangible Assets 885 909 936 981
Fixed Assets 875 909 936 981
Intermediate assets 10
TOTAL CURRENT ASSETS 5452 4762 4721 6046
Trade debtors 2103 1938 1803 2638
Stocks 1347 1341 1128 1574
Other Current Assets 2002 1483 1790 1834
Misc Current Assets 248 169 60 263
Due From Group 1227 1117 1615 1350
Cash 527 197 115 221
TOTAL ASSETS 6337 5671 5657 7027
TOTAL CURRENT LIABILITIES 3918 3479 3518 4935
Trade creditors 3493 3165 2526 4235
Short Term Loans 157 173 531 551
Bank Overdraft 54 60 387 437
Bank Loans 64 60 74 99
Other Finance 10 15 15 15
Due To Group 10
Due To Directors 19 38 55
Other Liabilities 268 141 461 149
WORKING CAPITAL 1534 1283 1203 1111
TOTAL LONG TERM LIABS 26 90 155 237
Long Term Loans 13 79 143 237
Bank Loans 7 70 130 208
Other Finance 6 9 13 29
Other Liabilities 13 11 12
NET ASSETS/(LIABILITIES) 2393 2102 1984 1855
SHARE CAPITAL + RESERVES 2393 2102 1984 1855
Share Cap + Sundry Res 1 1 1 1
Issued Share Capital 1 1 1 1
Profit and Loss account 2392 2101 1983 1854
SHAREHOLDERS FUNDS 2393 2102 1984 1855
CAPITAL EMPLOYED 2419 2192 2139 2092
Financial Comparison
The following figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 31/03/2005 31/03/2004 31/03/2003 31/03/2002
Consolidated Yes Yes Yes
Currency GBP GBP GBP GBP
Net Cashflow from Oper. 464 528 64 (304)
Increase in Cash 336 410 (52) (151)
Directors Remuneration 302 286 311 331
Auditors Remuneration 29 29 17 25
Liquid Assets 2630 2135 1918 2859
Net Working Capital 1534 1283 1203 1111
Long Term Debt(>12 Months) 13 79 143 237
Other Deferred Liabs 13 11 12
Tangible Net Worth(T.N.W) 2393 2102 1984 1855
Equity 2393 2102 1984 1855
Number of Years Trading 22 21 20 19
Number of Employees 27 27 33 35
Profit per Employee 15518.5 6148.1 4363.6 (6171.4)
Sales per Employee 505444.4 439370.4 378363.6 394600
Key Credit Ratios
The following figures are shown as Ratios or Percentages
Accounts Date 31/03/2005 31/03/2004 31/03/2003 31/03/2002
Consolidated Yes Yes Yes
Current Ratio 1.4 1.4 1.3 1.2
Long Term Debt/T.N.W 0.1 0.1
Pre Tax Profit Margin% 3.1 1.4 1.2 (1.6)
Gross Profit% 15.9 14.6 14.6 11.1
Debtors Days (D.S.O) 56 60 53 70
Creditors Days (D.P.O) 93 97 74 112
Quick Ratio 1 1 1 0.9
W.I.P/Inventory Days 42.9 48.3 38.6 46.8
Return on Investment% 16.7 7.8 7.2 (7)
Return on Assets% 6.6 2.9 2.5 (3.1)
T.N.W/Total Assets% 37.8 37.1 35.1 26.4
Return on Capital% 17.3 7.6 6.7 (10.3)
Rtn on Shareholders Funds% 17.5 7.9 7.3 (11.6)
Working Capital/Sales% 11.2 10.8 9.6 8
Borrowing Ratio% 7.1 12 34 42.5
Equity Gearing% 60.7 58.9 54 35.9
Stock Turnover 10.1 8.8 11.1 8.8
Days Purchases Outstanding 111.1 114 86.5 125.9
Key Industry Sector Trends
Year 2006 2005 2004 2003
Sample Size 1197 10044 12292 12244
Pre-Tax Profit Margin 5.9 3.2 3.2 2.7
Current Ratio 1.9 1.6 1.6 1.6
Borrowing Ratio 73 66.7 61.7 60.7
Return on Capital 45.2 35.4 35.2 35.2
Creditors Days 42 68 72 66
Above figures relate to companies in 1992 Standard Industry
Classification (Nace) sector : Wholesale of household goods
Financial Summary
Auditors Qualification
The Auditors have expressed a clean opinion (i.e. unqualified with
no referrals) on the accounts for the period ended 31/03/2005.
Turnover
Turnover has increased by 15 %, a growth of GBP 1,784,000 in the
period.
Operating Profit
Totalled GBP 428,000. In the year prior a Profit of GBP 184,000
was achieved.
Pre Tax Profit
The subject's profit increased by 152 % in the year.
Working Capital
The company's working capital has improved in the period by 20 %.
Net Worth
Net worth has increased by 14 % and now stands at GBP 2,393,000.
Fixed Assets
The subject's fixed assets reduced during the year by GBP 24,000
to GBP 885,000 and are now 13 % of total assets compared with 16 % in the
previous year.
Long Term Liabilities
The company's long term liabilities reduced during the period by
71 % and are now 1 % of net worth compared with 4 % in the previous period.
Long Term Liabilities
Long term liabilities are 1 % of capital employed, a decrease of 3
% over the previous period.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of
information, we have no basis upon which to recommend credit dealings |
No Rating |
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