MIRA
INFORM REPORT
|
Report Date : |
5th
February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
TATE & LYLE PUBLIC LIMITED COMPANY |
|
|
|
|
Registered Office : |
Sugar Quay, Lower Thames St, London, EC3R
6DQ |
|
|
|
|
Country : |
United
Kingdom |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
27.02.1903 |
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|
|
|
Com. Reg. No.: |
00076535 |
|
|
|
|
Legal Form : |
Public limited company |
|
|
|
|
Line of Business : |
Developing, manufacturing and marketing
food and industrial ingridents. |
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 |
|
Maximum Credit Limit : |
GBP 27,099,100 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Company Identification Details
|
Subject Reported on |
TATE & LYLE PUBLIC LIMITED COMPANY |
|
Trading Address |
Sugar Quay, Lower Thames Street, London, EC3R 6DQ |
|
Telephone |
020 76266525 |
|
|
|
|
Trading Address |
52 Cadogan Square, London, SW1X 0JW |
|
Telephone |
020 75842476 |
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|
Risk Score |
54 out of 100 |
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|
|
Average Risk - This company has an average risk status and should be treated with a degree of caution |
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|
|
|
|
|
Credit Limit |
GBP 27,099,100 |
|
|
|
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 |
GBP 285,333,300 |
|
|
|
Buying from this company? The Contract Limit is the recommended aggregate annual value for supply contracts. |
|
Official Company Data
|
Legal Form |
Public limited company |
|
Registration Number |
00076535 |
|
Date of Incorporation |
27/02/1903 |
|
Registered Office |
SUGAR QUAY, LOWER THAMES ST, LONDON, EC3R 6DQ . |
|
Date of Last Annual Return to Registry |
07/02/2006 |
|
Activities |
DEVELOPING, MANUFACTURING AND MARKETING FOOD AND INDUSTRIAL INGRIDENTS THAT HAVE BEEN MADE FROM RENEWABLE RESOURCES. - - |
|
Accounts |
The last filed accounts cover the period to 31/03/2006 and were presented to Companies House on 04/08/2006 |
Recently Filed Documents
Details of the most recent documents
|
Date Received |
Description |
|
19/01/2007 |
Returns Of Allotments Of A Public Company |
|
17/01/2007 |
Returns Of Allotments Of A Public Company |
|
10/01/2007 |
Returns Of Allotments Of A Public Company |
|
09/01/2007 |
Notification Of A Change Among The Directors Of A Company |
|
06/01/2007 |
Returns Of Allotments Of A Public Company |
|
23/12/2006 |
Returns Of Allotments Of A Public Company |
|
11/12/2006 |
Returns Of Allotments Of A Public Company |
|
04/12/2006 |
Returns Of Allotments Of A Public Company |
|
24/11/2006 |
Returns Of Allotments Of A Public Company |
|
17/11/2006 |
Returns Of Allotments Of A Public Company |
|
08/11/2006 |
Returns Of Allotments Of A Public Company |
|
27/10/2006 |
Returns Of Allotments Of A Public Company |
|
24/10/2006 |
Returns Of Allotments Of A Public Company |
|
20/10/2006 |
Returns Of Allotments Of A Public Company |
|
05/10/2006 |
Returns Of Allotments Of A Public Company |
|
16/09/2006 |
Returns Of Allotments Of A Public Company |
|
07/09/2006 |
Returns Of Allotments Of A Public Company |
|
01/09/2006 |
Returns Of Allotments Of A Public Company |
|
22/08/2006 |
Returns Of Allotments Of A Public Company |
|
18/08/2006 |
Returns Of Allotments Of A Public Company |
It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.
Known Directors
|
DIRECTOR |
STUART STRATHDEE (One or more of this director's other companies has additional risk related information which could include CCJ's, Legal Information or dissolution.) |
|
Occupation |
SWEETENER INDUSTRIALIST |
|
Address |
32, HALF MOON LANE HERNE HILL , LONDON , SE24 9HU |
|
Country
of Origin |
BRITISH |
|
Date
of Birth |
06/06/1951 |
|
Appointment
Date |
22/11/1994 |
|
Other
Appointments |
TATE & LYLE INVESTMENTS LIMITED, TATE & LYLE INDUSTRIES LIMITED, TATE & LYLE INVESTMENTS (GULF STATES) LIMITED, KALMARANA LIMITED, TATE & LYLE FERMENTATION PRODUCTS LIMITED, JAMES FINLAY LIMITED |
|
|
|
|
DIRECTOR |
DAVID BRYAN LEES (One or more of this director's other companies has additional risk related information which could include CCJ's, Legal Information or dissolution.) |
|
Occupation |
CHAIRMAN |
|
Address |
OAKHURST , UFFINGTON , SHREWSBURY , SALOP , SY4 4SN |
|
Country
of Origin |
BRITISH |
|
Date
of Birth |
23/11/1936 |
|
Appointment
Date |
01/10/1998 |
|
Other
Appointments |
ROYAL OPERA HOUSE,COVENT GARDEN LIMITED, ROYAL OPERA HOUSE COVENT GARDEN TRADING LIMITED, ROH ENDOWMENT FUND (NOMINEES) LIMITED, QINETIQ GROUP PLC |
|
|
|
|
DIRECTOR |
RICHARD DELBRIDGE |
|
Occupation |
NED/BUSINESS ADVISER |
|
Address |
48, DOWNSHIRE HILL , LONDON , NW3 1NX |
|
Country
of Origin |
BRITISH |
|
Date
of Birth |
21/05/1942 |
|
Appointment
Date |
01/09/2000 |
|
Other
Appointments |
GALLAHER GROUP PLC, THE WORDSWORTH TRUST, JPMORGAN CAZENOVE HOLDINGS |
|
|
|
|
DIRECTOR |
STANLEY HWAMI MUSESENGWA (One or more of this director's other companies has additional risk related information which could include CCJ's, Legal Information or dissolution.) |
|
Occupation |
CHIEF OPERATING OFFICER |
|
Address |
20, PALACE STREET , LONDON , SW1E 5BB |
|
Country
of Origin |
ZIMBABWEAN |
|
Date
of Birth |
15/09/1952 |
|
Appointment
Date |
02/04/2003 |
|
Other
Appointments |
TATE & LYLE INDUSTRIES LIMITED, WORLD SUGAR RESEARCH ORGANIZATION LIMITED, EASTSIDE YOUNG LEADERS ACADEMY |
|
|
|
|
DIRECTOR |
IAIN GEORGE THOMAS FERGUSON |
|
Occupation |
DIR\ |
|
Address |
SYGEN INTERNATIONAL PLC 2, KINGSTON BUSINESS PARK KINGSTON BAGPUIZE , ABINGDON , OXON , OX13 5FE |
|
Country
of Origin |
BRITISH |
|
Date
of Birth |
01/07/1955 |
|
Appointment
Date |
01/05/2003 |
|
Other
Appointments |
FOOD AND DRINK FEDERATION(THE) |
|
|
|
|
DIRECTOR |
EVERT HENKES (One or more of this director's other companies has additional risk related information which could include CCJ's, Legal Information or dissolution.) |
|
Occupation |
COMPANY DIRECTOR |
|
Address |
CEDAR LODGE , WARREN ROAD , KINGSTON UPON THAMES , SURREY , KT2 7HN |
|
Date
of Birth |
04/12/1943 |
|
Appointment
Date |
01/12/2003 |
|
Other
Appointments |
NAKED TURTLE LIMITED |
|
|
|
|
DIRECTOR |
KAIKHUSHRU SHIAVAX NARGOLWALA |
|
Occupation |
BANKER |
|
Address |
11, WHITE HOUSE PARK , SINGAPORE , |
|
Country
of Origin |
BRITISH |
|
Date
of Birth |
22/04/1950 |
|
Appointment
Date |
01/12/2004 |
|
|
|
|
DIRECTOR |
BARRY ZOUMAS |
|
Occupation |
SCIENTIST |
|
Address |
403S, ALLEN NUMBER 707 STATE COLLEGE , PA 16801 , UNITED STATES , |
|
Country
of Origin |
AMERICAN |
|
Date
of Birth |
09/07/1942 |
|
Appointment
Date |
01/05/2005 |
|
|
|
|
DIRECTOR |
ROBERT MALCOLM WALKER (One or more of this director's other companies has additional risk related information which could include CCJ's, Legal Information or dissolution. |
|
Occupation |
COMPANY DIRECTOR |
|
Address |
STOCKLEY HOUSE 130, WILTON ROAD , LONDON , SW1V 1LQ |
|
Country
of Origin |
BRITISH |
|
Date
of Birth |
03/02/1945 |
|
Appointment
Date |
01/01/2006 |
|
Other
Appointments |
WOLSELEY PLC, WH SMITH RETAIL HOLDINGS LIMITED, SIGNET GROUP PLC, WH SMITH PLC, WILLIAMS LEA HOLDINGS PLC |
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|
|
|
DIRECTOR |
JOHN EDWARD NICHOLAS |
|
Occupation |
GROUP FINANCE DIRECTOR |
|
Address |
OVER ROADS 2, GROVE ROAD , BEACONSFIELD , BUCKS , HP9 1UP |
|
Country
of Origin |
BRITISH |
|
Date
of Birth |
04/08/1956 |
|
Appointment
Date |
19/07/2006 |
|
Other
Appointments |
TATE & LYLE INTERNATIONAL FINANCE PLC |
|
|
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|
DIRECTOR |
ELISABETH PATRICIA AIREY (One or more of this director's other companies has additional risk related information which could include CCJ's, Legal Information or dissolution.) |
|
Occupation |
COMPANY DIRECTOR |
|
Address |
20, ST JAMESS WALK , LONDON , EC1R 0AP |
|
Country
of Origin |
BRITISH |
|
Date
of Birth |
28/01/1959 |
|
Appointment
Date |
01/01/2007 |
|
Other
Appointments |
ZETEX PLC, AMEC P L C, JPMORGAN EUROPEAN FLEDGELING INVESTMENT TRUST PLC, HARRISON LOVEGROVE & CO. LIMITED, DUNEDIN ENTERPRISE INVESTMENT TRUST PLC, DUNEDIN ENTERPRISE LIMITED |
|
|
|
|
SECRETARY |
ROBERT
AVERY GIBBER |
|
Address |
OLD SCHOOL HOUSE 14 , NORTH HILL , LONDON , N6 4QA |
|
Country
of Origin |
BRITISH |
|
Date
of Birth |
28/10/1962 |
Recently Resigned Directors (last 3)
|
|
|
|
DIRECTOR |
SIMON
GIFFORD |
|
Occupation |
CHARTERED ACCOUNTANT |
|
Address |
THE DOWN HOUSE 20 , CHICHELE ROAD , OXTED , SURREY , - - |
|
Country of Origin |
BRITISH |
|
Date of Birth |
01/10/1946 |
|
Resignation Date |
19/07/2006 |
|
|
|
|
DIRECTOR |
CAROLE
PIWNICA |
|
Occupation |
LAWYER |
|
Address |
30 , AVENUE GEORGES MANDEL , FRANCE , - - |
|
Country of Origin |
BELGIAN |
|
Date of Birth |
12/02/1958 |
|
Resignation Date |
19/07/2006 |
|
|
|
|
DIRECTOR |
ALLEN
MICHAEL YURKO |
|
Occupation |
INDUSTRIALIST |
|
Address |
8 , UPPER PHILLIMORE GARDENS , LONDON , - - |
|
Country of Origin |
AMERICAN |
|
Date of Birth |
25/09/1951 |
|
Resignation Date |
28/07/2005 |
Share Summary
|
Share Currency: |
GBP |
||
|
Issued at date of report: |
498,798,416 ORD |
Shares of 25 pence each |
|
|
Prinicipal Shareholders: |
Type Of Share |
No. of Shares |
Value |
|
BULK LIST OF SHAREHOLDERS |
ORD |
498,798,416 |
124,699,604.00 |
Mortgages and Charges
|
Total Registered |
9 |
|
Total Outstanding |
4 |
|
Total Satisfied |
5 |
|
Most Recent Mortgage |
13/11/2001 |
|
|
|
|
|
|
|
Date Registered |
27/11/2001 |
|
Type |
395 |
|
Date Created |
13/11/2001 |
|
Lender |
MCNEIL NUTRITIONALS DIVISION OF MCNEIL-PPC INC (THE ASSIGNEE) |
|
Secured On |
THE COMPLIANCE BY THE COMPANY WITH ITS OBLIGATIONS IN CLAUSE 2 OF THE SECURITY DOCUMENT (UNDERTAKING TO COMPLY) TO INDEMNIFY THE CHARGEE IMMEDIATELY ON DEMAND IN RESPECT OF ANY COST LOSS OR LIABILITY SUFFERED (DIRECTLY OR INDIRECTLY) BY THE ASSIGNEE AS A RESULT OF THE COMPANY'S FAILURE TO COMPLY WITH ANY OF ITS OBLIGATIONS UNDER SECTION 3 OF THE SUCRALOSE LICENCE OR AS A RESULT OF ANY OF ITS OBLIGATIONS UNDER SECTION 3 OF THE SUCRALOSE LICENCE BEING OR BECOMING UNENFORCEABLE, INVALID OR ILLEGAL (ALL TERMS AS DEFINED) |
|
Details |
ASSIGNS ALL ITS PRESENT AND FUTURE RIGHT TITLE AND INTEREST IN AND TO THE IP RIGHTS INCLUDING ALL MONEYS PAYABLE TO THE COMPANY. FIXED CHARGE OVER THE IP RIGHTS. BY WAY OF FLOATING CHARGE ALL ITS PRESENT AND FUTURE RIGHT TITLE AND INTEREST IN AND TO THE IP RIGHTS SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
27/11/2001 |
|
Type |
403A |
|
Date Created |
13/11/2001 |
|
Lender |
MCNEIL NUTRITIONALS DIVISION OF MCNEIL-PPC INC (THE ASSIGNEE) |
|
Secured On |
THE COMPLIANCE BY THE COMPANY WITH ITS OBLIGATIONS IN CLAUSE 2 OF THE SECURITY DOCUMENT (UNDERTAKING TO COMPLY) TO INDEMNIFY THE CHARGEE IMMEDIATELY ON DEMAND IN RESPECT OF ANY COST LOSS OR LIABILITY SUFFERED (DIRECTLY OR INDIRECTLY) BY THE ASSIGNEE AS A RESULT OF THE COMPANY'S FAILURE TO COMPLY WITH ANY OF ITS OBLIGATIONS UNDER SECTION 3 OF THE SUCRALOSE LICENCE OR AS A RESULT OF ANY OF ITS OBLIGATIONS UNDER SECTION 3 OF THE SUCRALOSE LICENCE BEING OR BECOMING UNENFORCEABLE, INVALID OR ILLEGAL (ALL TERMS AS DEFINED) |
|
Details |
ASSIGNS ALL ITS PRESENT AND FUTURE RIGHT TITLE AND INTEREST IN AND TO THE IP RIGHTS INCLUDING ALL MONEYS PAYABLE TO THE COMPANY. FIXED CHARGE OVER THE IP RIGHTS. BY WAY OF FLOATING CHARGE ALL ITS PRESENT AND FUTURE RIGHT TITLE AND INTEREST IN AND TO THE IP RIGHTS SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
23/10/1967 |
|
Type |
403A |
|
Lender |
PEARL ASSURANACE COMPANY LTD |
|
Details |
FLOATING CHARGE ON THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL (SEE DOC 323 FOR DETAILS) |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
23/10/1967 |
|
Type |
9999 |
|
Details |
FLOATING CHARGE ON THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL (SEE DOC 323 FOR DETAILS) |
|
Satisfied? |
No |
|
|
|
|
Date Registered |
20/01/1966 |
|
Type |
9999 |
|
Details |
FLOATING CHARGE ON THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL (SEE DOC 303 FOR DETAILS) |
|
Satisfied? |
No |
|
|
|
|
Date Registered |
20/01/1966 |
|
Type |
403A |
|
Lender |
PEARL ASSURANCE COMPANY LTD |
|
Details |
FLOATING CHARGE ON THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL (SEE DOC 303 FOR DETAILS) |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
06/04/1960 |
|
Type |
403A |
|
Lender |
PEARL ASSURANCE COMPANY LTD |
|
Details |
FLOATING CHARGE ON THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL (SEE DOC 233 FOR DETAILS) |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
06/04/1960 |
|
Type |
9999 |
|
Details |
FLOATING CHARGE ON THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL (SEE DOC 233 FOR DETAILS) |
|
Satisfied? |
No |
|
|
|
|
Date Registered |
16/06/1953 |
|
Type |
9999 |
|
Details |
FLOATING CHARGE ON THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL SEE DOC 148 FOR FULL DETAILS) |
|
Satisfied? |
No |
|
|
|
|
Date Registered |
16/06/1953 |
|
Type |
403A |
|
Lender |
PEARL ASSURANCE COMPANY LTD. |
|
Details |
FLOATING CHARGE ON THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL SEE DOC 148 FOR FULL DETAILS) |
|
Satisfied? |
Fully |
Public Record Information
Summary of CCJ's/Scottish Decrees
|
There are 3 exact unsatisfied CCJs totalling GBP 8,986 in the last 72 months |
Details of most recent
CCJ's/Scottish Decrees
|
06/2005, a Judgment of GBP 8018 was made in CROYDON court (Case No. 5CR01811 ) against TATE & LYLE PLC of SUGAR QUAY,LOWER THAMES STREET,LONDON,EC3R 6DQ |
|
04/2002, a Judgment of GBP 870 was made in SHOREDITCH court (Case No. SD200759 ) against TATE & LYLE PLC of SUGAR QUAY,LOWER THAMES STREET,LONDON,EC3R 6OQ |
|
02/2002, a Judgment of GBP 98 was made in BANBURY court (Case No. JJ128538 ) against TATE & LYLE PLC of THAMES REFINERY,SILVERTOWN,LONDON,E16 2EW |
Operations
|
Activities |
DEVELOPING, MANUFACTURING AND MARKETING FOOD AND INDUSTRIAL INGRIDENTS THAT HAVE BEEN MADE FROM RENEWABLE RESOURCES. - - |
|
Sic Code |
Description |
|
1583 |
Manufacture of sugar |
|
Staff Employed |
9131 |
|
Auditors |
PRICEWATERHOUSECOOPERS LLP |
|
Auditors Notes |
No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/03/2006. |
|
Bankers |
- |
|
Subsidiaries |
00179862 ADCO LIMITED |
|
|
04492805 ORSAN S.A. LIMITED |
|
|
04153087 REDPATH (UK) LIMITED |
|
|
00471470 TATE & LYLE HOLDINGS LIMITED |
|
|
03403582 TATE & LYLE INDUSTRIAL HOLDINGS LIMITED |
|
|
00970351 TATE & LYLE INTERNATIONAL FINANCE PLC |
|
|
00300771 TATE & LYLE INVESTMENTS LIMITED |
|
|
00428733 TATE & LYLE PENSION TRUST LIMITED |
|
|
03403518 TATE & LYLE VENTURES LIMITED |
|
|
NF002880 TATE AND LYLE INDUSTRIES LIMITED |
|
|
01531255 UNITED MOLASSES PURCHASING LIMITED |
Financial Data
Profit and Loss
The following figures are shown in units of GBP '000
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
|
Currency |
GBP '000
|
GBP '000
|
GBP '000
|
GBP '000
|
|
Consolidated? |
Yes |
Yes |
Yes |
Yes |
|
SALES |
3,720,000 |
3,342,000 |
3,167,000 |
3,167,000 |
|
Wages and Salaries |
240,000 |
198,000 |
- |
200,000 |
|
Directors Emoluments |
4,750 |
4,389 |
3,429 |
4,203 |
|
Auditors Fees |
2,200 |
2,300 |
2,000 |
2,000 |
|
Non-Audit Fees |
100 |
100 |
0 |
0 |
|
Depreciation |
125,000 |
115,000 |
106,000 |
- |
|
Operating Profit |
- |
208,000 |
249,000 |
- |
|
Non Trading Income |
110,000 |
35,000 |
31,000 |
69,000 |
|
Exceptional Items |
0 |
10,000 |
-6,000 |
-33,000 |
|
Interest Payable |
141,000 |
56,000 |
50,000 |
60,000 |
|
PRE TAX PROFIT |
42,000 |
197,000 |
224,000 |
187,000 |
|
Taxation |
69,000 |
53,000 |
69,000 |
57,000 |
|
PROFIT AFTER TAX |
-27,000 |
144,000 |
155,000 |
130,000 |
|
Dividends Payable |
20,000 |
92,000 |
88,000 |
86,000 |
|
RETAINED PROFITS |
-47,000 |
48,000 |
66,000 |
46,000 |
Balance Sheet
The following figures are shown in units of GBP '000
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
|
Currency |
GBP '000
|
GBP '000
|
GBP '000
|
GBP '000
|
|
Consolidated? |
Yes |
Yes |
Yes |
Yes |
|
TOTAL FIXED ASSETS |
1,536,000 |
1,513,000 |
1,452,000 |
1,565,000 |
|
Tangible Assets |
1,273,000 |
1,340,000 |
1,316,000 |
1,411,000 |
|
Fixed Assets |
1,209,000 |
1,111,000 |
1,062,000 |
1,176,000 |
|
Intermediate Assets |
64,000 |
229,000 |
254,000 |
235,000 |
|
Intangible Assets |
263,000 |
173,000 |
136,000 |
154,000 |
|
TOTAL CURRENT ASSETS |
1,410,000 |
1,064,000 |
764,000 |
880,000 |
|
Total Debtors |
482,000 |
421,000 |
337,000 |
398,000 |
|
Trade Debtors |
425,000 |
263,000 |
219,000 |
221,000 |
|
Other Debtors |
57,000 |
158,000 |
118,000 |
177,000 |
|
Stocks/WIP |
456,000 |
288,000 |
273,000 |
310,000 |
|
Stocks |
435,000 |
288,000 |
273,000 |
310,000 |
|
Work in Progress |
21,000 |
0 |
0 |
0 |
|
Cash |
158,000 |
59,000 |
42,000 |
45,000 |
|
Other Current Assets |
314,000 |
296,000 |
112,000 |
127,000 |
|
TOTAL ASSETS |
2,946,000 |
2,577,000 |
2,216,000 |
2,445,000 |
|
TOTAL CURRENT LIABILITIES |
1,135,000 |
458,000 |
437,000 |
593,000 |
|
Trade creditors |
216,000 |
164,000 |
178,000 |
175,000 |
|
Due From Group |
1,000 |
0 |
0 |
- |
|
Short Term Loans |
482,000 |
19,000 |
25,000 |
77,000 |
|
Bank Overdraft |
9,000 |
4,000 |
5,000 |
23,000 |
|
Dividends Payable |
- |
65,000 |
62,000 |
62,000 |
|
Corporation Tax |
30,000 |
19,000 |
37,000 |
88,000 |
|
Other Current Liabilities |
286,000 |
49,000 |
37,000 |
40,000 |
|
Misc Current Liabilities |
111,000 |
138,000 |
93,000 |
128,000 |
|
WORKING CAPITAL |
275,000 |
606,000 |
327,000 |
287,000 |
|
TOTAL LONG TERM LIABS |
906,000 |
1,101,000 |
790,000 |
840,000 |
|
Long Term Loans |
537,000 |
783,000 |
512,000 |
543,000 |
|
Other Liabilities |
29,000 |
2,000 |
2,000 |
2,000 |
|
Accruals |
2,000 |
6,000 |
3,000 |
2,000 |
|
Total Provisions |
303,000 |
281,000 |
246,000 |
261,000 |
|
NET ASSETS/(LIABILITIES) |
905,000 |
1,018,000 |
989,000 |
1,012,000 |
|
SHARE CAPITAL + RESERVES |
905,000 |
1,018,000 |
989,000 |
1,012,000 |
|
Issued Share Capital |
122,000 |
124,000 |
123,000 |
123,000 |
|
Share Premium Accounts |
400,000 |
393,000 |
383,000 |
381,000 |
|
Revaluation Reserves |
0 |
37,000 |
37,000 |
32,000 |
|
Profit and Loss account |
327,000 |
386,000 |
365,000 |
402,000 |
|
Sundry Reserves |
56,000 |
78,000 |
81,000 |
74,000 |
|
SHAREHOLDERS FUNDS |
905,000 |
1,018,000 |
989,000 |
1,012,000 |
|
CAPITAL EMPLOYED |
1,811,000 |
2,119,000 |
1,779,000 |
1,852,000 |
Key Credit Ratios
|
Accounts Date |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
|
Current Ratio |
1.24 |
2.32 |
1.75 |
1.48 |
|
Long Term Debt/T.N.W (%) |
88.47 |
93.61 |
60.61 |
63.75 |
|
Profit Before Tax |
1.13 |
5.89 |
7.07 |
5.90 |
|
Debtors Days (D.S.O) |
41.70 |
28.72 |
25.24 |
25.47 |
|
Creditors Days (D.P.O) |
21.19 |
17.91 |
20.51 |
20.17 |
|
Quick Ratio |
0.84 |
1.69 |
1.12 |
0.96 |
|
Return on Assets |
1.43 |
7.64 |
10.11 |
7.65 |
|
T.N.W/Total Assets |
21.79 |
32.79 |
38.49 |
35.09 |
|
Return on Capital |
2.32 |
9.30 |
12.59 |
10.10 |
|
Rtn on Shareholders Funds |
4.64 |
19.35 |
22.65 |
18.48 |
|
Working Capital/Sales |
7.39 |
18.13 |
10.33 |
9.06 |
|
Borrowing Ratio |
160.28 |
95.38 |
63.54 |
74.94 |
|
Equity Gearing |
30.72 |
39.50 |
44.63 |
41.39 |
|
Stock Turnover |
8.16 |
11.60 |
11.60 |
10.22 |
Financial Comparison
The following figures are shown in units of GBP '000
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
|
Currency |
GBP '000
|
GBP '000
|
GBP '000
|
GBP '000
|
|
Net Cashflow from Oper. |
- |
263,000 |
289,000 |
323,000 |
|
Increase in Cash |
- |
17,000 |
17,000 |
-32,000 |
|
Directors Remuneration |
4,750 |
4,389 |
3,429 |
4,203 |
|
Auditors Remuneration |
2,200 |
2,300 |
2,000 |
2,000 |
|
Other Deferred Liabs |
29,000 |
2,000 |
2,000 |
2,000 |
|
Tangible Net Worth(T.N.W) |
642,000 |
845,000 |
853,000 |
858,000 |
|
Equity |
905,000 |
1,018,000 |
989,000 |
1,012,000 |
|
Number of Employees |
9131 |
6687 |
6646 |
7018 |
Key Industry Sector Trends
|
|
Company |
Industry
Averages |
||
|
|
31/03/2005 |
Lower |
Median |
Upper |
|
Current Ratio |
1.24 |
1.4 |
2.3 |
2.4 |
|
Borrowing Ratio |
160.28 |
30.6 |
95.4 |
63.5 |
|
Return on Capital |
2.32 |
4 |
13.1 |
23.1 |
|
Credit Period |
41.70 |
32.8 |
33.7 |
34 |
This comparison is based on the results of 0000010 companies in the same industrial sector: sugar & sugar by-products
Financial Summary
|
Turnover |
Turnover increased by more than 11% in the period. Turnover totalled GBP 3,720,000,000 for the period. |
|
Pre Tax |
The subject made a profit of GBP 42,000,000 compared with a profit of GBP 197,000,000 in the previous period. |
|
Working Capital |
The company's working capital decreased in the period by 55% |
|
Tangible Net Worth |
Net worth reduced by 203,000,000 during the period and now stands at GBP 642,000,000 |
|
Fixed Assets |
The subjects fixed assets increased during the period by GBP 23,000,000 to GBP 1,536,000,000 and are now 52% of total assets compared with 59% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities reduced during the period by 18% and are now 100% of net worth compared with 108% in the previous period |
|
Long Term Liabilities |
Long term liabilities are now 31% of total assets compared with 43% in the previous period |
|
Long Term Liabilities |
Long term liabilities are 50% of capital employed a decrease of 2% 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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|