MIRA
INFORM REPORT
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Report Date : |
6th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
METAL
INOX LIMITED |
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Registered Office : |
10-12 Barnes High Street, Barnes, Sw13 9lW. |
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Country : |
United
Kingdom |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
06.11.2003 |
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Com. Reg. No.: |
04956082 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading
of Commodity. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
GBP 80,000 |
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Status : |
Good |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Name
METAL INOX LIMITED
Creditline Recommendations
GBP 500k-999k
financial strength rating based on net worth plus net current
assets/liabilities
Monthly Credit Guide GBP 80,000
Risk Category LOW RISK
Official Company Data
|
Legal Form |
Private Limited |
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Registration Number |
04956082 |
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Date of Incorporation |
06/11/2003 |
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Registered Office |
10-12 BARNES HIGH STREET, BARNES, SW13 9LW. |
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History |
14/04/2005
: The Registered Office address changed from 68 MADRID ROAD, BARNES, LONDON,
SW13 9PG. |
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13/12/2003
: The Registered Office address changed from 42-46 HIGH STREET, ESHER,
SURREY, KT10 9QY. |
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Date of Last Annual Return to Registry |
06/11/2006 |
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Accounts |
The last filed accounts at Companies House are those to
31/03/2006 |
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Accounting Reference Date |
31/03 |
Operations
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Activities |
Commodity trading. Commenced trading 1.1.04. |
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Nace Code |
5111 |
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Auditors |
Wilkins Southworth |
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 |
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13/12/2003 |
Companies House Gazette |
Change among the directors of a
company |
Company Secretary
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Secretary |
REBECCA ELISABETH SYKES THOMPSON |
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Address |
32A ST ANNS ROAD, BARNES, LONDON, SW13 9LJ. |
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Country of Origin |
UNITED KINGDOM |
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Date of Birth |
03/08/1959 |
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Appointment Date |
06/11/2003 |
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Other Directorships |
VIRAJ EUROPE LIMITED |
Directors
|
Director |
REBECCA ELISABETH SYKES THOMPSON |
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Address |
32A ST ANNS ROAD, BARNES, LONDON, SW13 9LJ. |
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Country of Origin |
UNITED KINGDOM |
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Date of Birth |
03/08/1959 |
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Appointment Date |
06/11/2003 |
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Other Directorships |
VIRAJ EUROPE LIMITED |
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Address |
32A ST ANNS ROAD, BARNES, LONDON, SW13 9LJ. |
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Country of Origin |
UNITED KINGDOM |
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Date of Birth |
20/12/1951 |
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Appointment Date |
06/11/2003 |
Share Capital
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Shares |
Ordinary A GBP 1.00 |
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Issued Number |
2 |
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Shares |
Ordinary B GBP 1.00 |
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Issued Number |
2 |
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Principal Shareholder |
1 Benjamin Edward Sykes-Thompson |
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1 Victoria Jane Sykes-Thompson |
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1 Rebecca Elisabeth Sykes-Thompson |
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1 Nigel Sean Sykes-Thompson |
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 and Loss
The following figures are shown in units
of 1000
|
Number of Weeks |
52 |
65 |
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Accounts Date |
31/03/2006 |
31/03/2005 |
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Currency |
GBP |
GBP |
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SALES |
626 |
989 |
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Cost of goods sold |
212 |
572 |
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GROSS PROFIT |
414 |
417 |
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Trading Profit |
217 |
332 |
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Depreciation |
1 |
1 |
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OPERATING PROFIT |
216 |
331 |
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Non Trading Income |
3 |
(10) |
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PRE TAX PROFIT |
219 |
321 |
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Taxation |
45 |
63 |
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PROFIT AFTER TAX |
174 |
258 |
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Dividends Payable |
106 |
26 |
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RETAINED PROFITS |
68 |
232 |
Balance Sheet
The following figures are shown in units
of 1000
|
Number of Weeks |
52 |
65 |
|
Accounts Date |
31/03/2006 |
31/03/2005 |
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Currency |
GBP |
GBP |
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TOTAL FIXED ASSETS |
56 |
71 |
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Tangible Assets |
3 |
2 |
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Fixed Assets |
3 |
2 |
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Intangible Assets |
53 |
69 |
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TOTAL CURRENT ASSETS |
363 |
273 |
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Trade debtors |
163 |
133 |
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Other Current Assets |
200 |
140 |
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Misc Current Assets |
6 |
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Cash |
194 |
140 |
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TOTAL ASSETS |
419 |
344 |
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TOTAL CURRENT LIABILITIES |
118 |
112 |
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Trade creditors |
56 |
2 |
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Other Liabilities |
62 |
110 |
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WORKING CAPITAL |
245 |
161 |
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NET ASSETS/(LIABILITIES) |
301 |
232 |
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SHARE CAPITAL + RESERVES |
301 |
232 |
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Profit and Loss account |
301 |
232 |
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SHAREHOLDERS FUNDS |
301 |
232 |
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CAPITAL EMPLOYED |
301 |
232 |
Financial Comparison
The following figures are shown in units
of 1000
|
Number of Weeks |
52 |
65 |
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Accounts Date |
31/03/2006 |
31/03/2005 |
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Currency |
GBP |
GBP |
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Liquid Assets |
357 |
273 |
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Net Working Capital |
245 |
161 |
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Tangible Net Worth(T.N.W) |
248 |
163 |
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Equity |
301 |
232 |
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Number of Years Trading |
3 |
2 |
Key Credit Ratios
The following figures are shown as
Ratios or Percentages
|
Accounts Date |
31/03/2006 |
31/03/2005 |
|
Current Ratio |
3.1 |
2.4 |
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Pre Tax Profit Margin% |
35 |
32.5 |
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Gross Profit% |
66.1 |
42.2 |
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Debtors Days (D.S.O) |
95 |
49 |
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Creditors Days (D.P.O) |
33 |
1 |
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Quick Ratio |
3.1 |
2.4 |
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Return on Investment% |
72.8 |
138.4 |
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Return on Assets% |
52.3 |
93.3 |
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T.N.W/Total Assets% |
59.2 |
47.4 |
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Return on Capital% |
72.8 |
138.4 |
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Rtn on Shareholders Funds% |
72.8 |
138.4 |
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Working Capital/Sales% |
39.1 |
16.3 |
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Equity Gearing% |
255.1 |
207.1 |
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Days Purchases Outstanding |
96.4 |
1.3 |
Key Industry Sector Trends
|
Year |
2006 |
2005 |
2004 |
2003 |
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Sample Size |
2948 |
12240 |
12387 |
11223 |
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Pre-Tax Profit Margin |
13 |
9.5 |
8.7 |
6.7 |
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Current Ratio |
1.7 |
1.5 |
1.5 |
1.5 |
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Borrowing Ratio |
69.5 |
70.7 |
63.9 |
86.3 |
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Return on Capital |
75.2 |
64.1 |
63.4 |
57.9 |
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Creditors Days |
80 |
165 |
125 |
128 |
Above figures relate to companies in
1992 Standard Industry Classification (Nace) sector : Wholesale on a fee or
contract basis
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.
Turnover
Turnover decreased by 37 % and reduced by 363,000 to GBP 626,000.
Operating
Profit
Totalled GBP 216,000. In the year prior a Profit of GBP 331,000 was achieved.
Pre
Tax Profit
The subject's profit decreased by 31 % over the previous year.
Working
Capital
The company's working capital has increased by 52 % in the period.
Fixed
Assets
The subject's fixed assets reduced during the year by GBP 15,000 to GBP 56,000 and are now 13 % of total assets compared with 20 % in the previous year.
RATING EXPLANATIONS
|
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 |
|
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 |
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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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