MIRA
INFORM REPORT
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Report Date : |
17th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
GL PRODUCE LIMITED |
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Registered Office : |
Oak Farm Winchester Road, Wickham, Fareham, Hampshire, Po17 5he. |
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Country : |
United
Kingdom |
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Financials (as on) : |
31.05.2005 |
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Date of Incorporation : |
09.05.2001 |
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Com. Reg. No.: |
04212929 |
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Legal Form : |
Private
Limited |
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 : |
Satisfactory
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
Company name
GL PRODUCE LIMITED
Creditline Recommendations
GBP 50k-99k financial strength
rating based on net worth plus net current assets/liabilities
Monthly Credit Guide GBP 5,250
Risk Category NORMAL
RISK
Official Company Data
Legal Form Private Limited
Registration Number 04212929
Date of Incorporation 09/05/2001
Registered Office OAK FARM WINCHESTER ROAD, WICKHAM, FAREHAM, HAMPSHIRE, PO17 5HE.
History 23/02/2006 : The Registered Office address changed
from 5 DEAN COURT, HEDGE END, SOUTHAMPTON, SO30 4E.
Date of Last Annual Return to Registry
09/05/2006
Accounts
The last filed accounts at
Companies House are those to 31/05/2005
Accounting Reference Date
31/05
Operations
Nace Code 7484
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
16/09/2002 Companies House Gazette Change
among the directors of a company
21/05/2001 Companies House Gazette Change
among the directors of a company
Company Secretary
Secretary AMANDA SIAN NOBES
Address 127 WOODLANDS WAY, BURSLEDON,
SOUTHAMPTON, HAMPSHIRE,
SO31 8LG.
Country of Origin UNITED KINGDOM
Date of Birth 14/11/1957
Appointment Date 10/05/2001
Other Directorships ASN ACCOUNTANCY LIMITED
Directors
Director IAN ROYSTON GRAY
Address OAK FARM, WINCHESTER ROAD
WICKHAM, FAREHAM,
HAMPSHIRE, PO17 5HE.
Country of Origin UNITED KINGDOM
Date of Birth 08/12/1969
Appointment Date 09/05/2001
Other Directorships CAC ACCOUNTANTS LIMITED, CONCEPT TAX
RETURNS
LIMITED, GL
RECRUITMENT AGENCY LIMITED
Share Capital
Shares Ordinary GBP 1.00
Issued Number 2
Principal Shareholder 2 Ian Royston Gray
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.
Balance Sheet
The following figures are shown
in units of 1000
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Number of Weeks |
52 |
52 |
55 |
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Accounts Date |
31/05/2005 |
31/05/2004 |
31/05/2003 |
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Currency |
GBP |
GBP |
GBP |
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TOTAL FIXED ASSETS |
78 |
8 |
10 |
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Tangible Assets |
39 |
8 |
10 |
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Intangible Assets |
39 |
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TOTAL CURRENT ASSETS |
149 |
27 |
7 |
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Trade debtors |
139 |
22 |
7 |
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Stocks |
10 |
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Other Current Assets |
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5 |
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Cash |
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5 |
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TOTAL ASSETS |
227 |
35 |
17 |
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TOTAL CURRENT LIABILITIES |
134 |
46 |
43 |
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Trade creditors |
134 |
46 |
43 |
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WORKING CAPITAL |
15 |
(19) |
(36) |
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TOTAL LONG TERM LIABS |
34 |
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NET ASSETS/(LIABILITIES) |
59 |
(11) |
(26) |
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SHARE CAPITAL + RESERVES |
59 |
(11) |
(26) |
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Profit and Loss account |
59 |
(11) |
(26) |
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SHAREHOLDERS FUNDS |
59 |
(11) |
(26) |
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CAPITAL EMPLOYED |
93 |
(11) |
(26) |
Financial Comparison
The following figures are shown
in units of 1000
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Number of Weeks |
52 |
52 |
55 |
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Accounts Date |
31/05/2005 |
31/05/2004 |
31/05/2003 |
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Currency |
GBP |
GBP |
GBP |
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Liquid Assets |
139 |
27 |
7 |
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Net Working Capital |
15 |
(19) |
(36) |
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Other Deferred Liabs |
34 |
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Tangible Net Worth(T.N.W) |
20 |
(11) |
(26) |
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Equity |
59 |
(11) |
(26) |
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Number of Years Trading |
4 |
3 |
2 |
Key Credit Ratios
The following figures are shown
as Ratios or Percentages
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Accounts Date |
31/05/2005 |
31/05/2004 |
31/05/2003 |
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Current Ratio |
1.1 |
0.6 |
0.2 |
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Quick Ratio |
1 |
0.6 |
0.2 |
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T.N.W/Total Assets% |
8.8 |
(31.4) |
(152.9) |
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Equity Gearing% |
35.1 |
(23.9) |
(60.5) |
Key Industry Sector Trends
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Year
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2006 |
2005 |
2004 |
2003 |
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Sample
Size |
28748 |
99999 |
99999 |
99999 |
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Pre-Tax
Profit Margin |
34.7 |
22.3 |
19.3 |
17.7 |
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Current
Ratio |
1.7 |
1.7 |
1.6 |
1.6 |
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Borrowing
Ratio |
36.7 |
33.6 |
35.9 |
37.6 |
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Return
on Capital |
392.6 |
130.5 |
93.7 |
87.5 |
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Creditors
Days |
89 |
232 |
171 |
216 |
Above figures relate to companies
in 1992 Standard Industry Classification (Nace) sector : Miscellaneous business
activities not elsewhere classified
Financial Summary
Auditors
Qualification
The
company has taken advantage of exemptions under the Companies Act such that the
accounts have not been audited or examined.
No
Turnover
The
company's balance sheet total is less than GBP 2,800,001 and therefore this is
a small company as defined by the Companies Act.It is not required to disclose
turnover but it is likely to be less than GBP 5,600,000.
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
70,000 increase. This suggests that the Company may have made a post-tax profit
of GBP 70,000.
Working
Capital
The
subject has turned a deficient working capital of GBP 19,000 to surplus of GBP
15,000.
Net
Worth
Net
worth was GBP 59,000.
Fixed
Assets
The
subject's fixed assets increased during the year by GBP 70,000 to GBP 78,000
and are now 34 % of total assets compared with 22 % in the previous year.
Long
Term Liabilities
Long
term liabilities were GBP 34,000 which are 15 % of total liabilities and 37 %
of capital employed.
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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