MIRA INFORM REPORT

 

 

Report Date :

03.07.2007

 

IDENTIFICATION DETAILS

 

Name :

MILLMAN LIMITED

 

 

Registered Office :

Duke House, Duke Street, Woking, Surrey, GU21 5BA

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

10/05/1991

 

 

Com. Reg. No.:

02609249

 

 

Legal Form :

Private Limited

 

 

Line of Business :

General traders

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Company Identification Details

 

Subject Reported on

MILLMAN LIMITED

Address

DUKE HOUSE, DUKE STREET, WOKING, SURREY, GU21 5BA.

Telephone

01483776187

Facsimile

01483747796

 

 

Creditline Recommendations

 

Monthly Credit Guide

GBP 1,150

Risk Category

ABOVE NORMAL RISK

 

 

 

Official Company Data

 

 

Legal Form

Private Limited

Registration Number

02609249

VAT Number

GB572810441

Date of Incorporation

10/05/1991

Registered Office

DUKE HOUSE, DUKE STREET, WOKING, SURREY, GU21 5BA.

History

9/06/2000 : The Registered Office address changed from WHITEWATER HOUSE, HEATHSIDE CRESCENT, WOKING,.

Date of Last Annual Return to Registry

26/03/2007

Accounts

The last filed accounts at Companies House are those to 31/12/2005

Accounting Reference

Date

31/12

 

 

Operations

 

 

Activities

General traders.

Nace Code

5170

Premises

Rented, Offices

Staff Employed

1

Import Countries

SOVIET UNION

Export Countries

EUROPE, FAR EAST

Bankers

HSBC BANK PLC

Address

WOKING COMMERCIAL ROAD.

Sort Code

404708

Auditors

Menzies

 

 

 

 

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

1

Number Outstanding

1

Number Partially Satisfied

0

Number Satisfied

0

 

 

Date of Latest Mortgage Created

12/10/2005

 

 

 

 

Details of most recent Mortgages,

Charges and Satisfactions

 

 

Date Fully
Satisfied

Date
Registered

Date
Created

Charge
Description

Form Type

Lender

 

19/10/2005

12/10/2005

Debenture

395

Fortis Bank Sa-Nv Uk Branch

 

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

 

02/10/1995

Companies House Gazette

Change among the directors of a company

22/04/1995

Companies House Gazette

Change among the directors of a company

01/06/1994

Companies House Gazette

Change among the directors of a company

28/09/1992

Companies House Gazette

Change among the directors of a company

27/06/1991

Companies House Gazette

Change among the directors of a company

 

 

 

Company Secretary

 

 

Secretary

GEOFFREY PHILIP SMITH

Address

2 LAUREL DRIVE, OXTED, SURREY, RH8 9DT.

Country of Origin

UNITED KINGDOM

Date of Birth

21/04/1957

Appointment Date

28/02/1994

 

 

 

 

Directors

 

 

Accountant

SUSHOVAN GHOSH

Address

ACRE HOLT GOLF CLUB ROAD, HOOK HEATH, WOKING, SURREY, GU22 0LS.

Country of Origin

UNITED KINGDOM

Date of Birth

12/07/1957

Appointment Date

28/02/1994

Other Directorships

SGI ENTERPRISES LIMITED, ALMAN LIMITED, UMS PROPERTY LIMITED, ZENITH COLOURS & CHEMICALS LIMITED, PITNEY WORLDWIDE LIMITED, SYNERGETIC SOFTWARE LIMITED

 

 

Share Capital

 

 

Shares

Ordinary GBP 1.00

Issued Number

100

Principal Shareholder

100 SGI Group Ltd

 

The above reflects the principle shareholder(s) by number of shares held, irrespective of share classification type.

 

Holding Company

SGI GROUP LIMITED

Ultimate Parent

AP (HOLDINGS) LTD, a company incorporated in GUERNSEY

 

 

Payment Analysis

 

 

( No Payment Analysis Data is Available )

 

 

Financial Data

 

 

For annual accounts images

 

Profit and Loss

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/12/2005

31/12/2004

31/12/2003

31/12/2002

Currency

GBP

GBP

GBP

GBP

SALES

8572

10046

4417

1160

Export

8572

10046

4417

1160

Cost of goods sold

8149

9717

4137

985

GROSS PROFIT

423

329

280

175

Wages and Salaries

 

 

 

1

Auditors Fees

2

2

1

1

Trading Profit

11

 

(7)

(18)

Depreciation

1

 

 

 

OPERATING PROFIT

10

 

(7)

(18)

Non Trading Income

 

 

 

8

PRE TAX PROFIT

10

 

(7)

(10)

Taxation

10

 

 

 

PROFIT AFTER TAX

 

 

(7)

(10)

RETAINED PROFITS

 

 

(7)

(10)

 

 

Balance Sheet

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/12/2005

31/12/2004

31/12/2003

31/12/2002

Currency

GBP

GBP

GBP

GBP

TOTAL FIXED ASSETS

3

1

 

 

Tangible Assets

3

1

 

 

Fixed Assets

3

1

 

 

TOTAL CURRENT ASSETS

1830

3492

855

452

Trade debtors

701

1747

269

253

Stocks

990

1688

584

156

Other Current Assets

139

57

2

43

Misc Current Assets

139

53

2

10

Cash

 

4

 

33

TOTAL ASSETS

1833

3493

855

452

TOTAL CURRENT LIABILITIES

1830

3491

853

443

Trade creditors

74

676

46

28

Short Term Loans

1452

2666

792

398

Bank Overdraft

1

 

 

 

Due To Group

1451

2666

792

398

Other Liabilities

304

149

15

17

WORKING CAPITAL

 

1

2

9

NET ASSETS/(LIABILITIES)

3

2

2

9

SHARE CAPITAL + RESERVES

3

2

2

9

Profit and Loss account

3

2

2

9

SHAREHOLDERS FUNDS

3

2

2

9

CAPITAL EMPLOYED

3

2

2

9

 

 

Financial Comparison

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/12/2005

31/12/2004

31/12/2003

31/12/2002

Currency

GBP

GBP

GBP

GBP

Auditors Remuneration

2

2

1

1

Liquid Assets

701

1751

269

286

Net Working Capital

 

1

2

9

Tangible Net Worth(T.N.W)

3

2

2

9

Equity

3

2

2

9

Number of Years Trading

14

13

12

11

Number of Employees

 

 

 

1

Profit per Employee

 

 

 

(10000)

Sales per Employee

 

 

 

1160000

 

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

31/12/2005

31/12/2004

31/12/2003

31/12/2002

Current Ratio

1

1

1

1

Pre Tax Profit Margin%

0.1

 

(0.2)

(0.9)

Gross Profit%

4.9

3.3

6.3

15.1

Debtors Days (D.S.O)

30

63

22

80

Creditors Days (D.P.O)

3

25

4

9

Quick Ratio

0.5

0.5

0.3

0.7

W.I.P/Inventory Days

44.3

63.4

51.5

57.8

Return on Investment%

0.7

 

(0.9)

(2.5)

Return on Assets%

0.5

 

(0.8)

(2.2)

T.N.W/Total Assets%

0.2

0.1

0.2

2

Return on Capital%

333.3

 

(350)

(111.1)

Rtn on Shareholders Funds%

333.3

 

(350)

(111.1)

Working Capital/Sales%

 

 

 

0.8

Borrowing Ratio%

48400

133300

39600

4422.2

Equity Gearing%

0.2

0.1

0.2

2

Stock Turnover

8.7

6

7.6

7.4

Days Purchases Outstanding

3.3

25.4

4.1

10.4

 

 

Key Industry Sector Trends

 

 

Year

2006

2005

2004

2003

Sample Size

5962

13197

13494

13155

Pre-Tax Profit Margin

6.4

3.7

3

2.7

Current Ratio

1.7

1.6

1.5

1.5

Borrowing Ratio

26.6

36.7

35.9

35.9

Return on Capital

49.9

39.5

39.3

33.5

Creditors Days

145

152

132

125

 

Above figures relate to companies in 1992 Standard Industry Classification (Nace) sector : Other wholesale

 

 

Financial Summary

 

 

Auditors Qualification

The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/12/2005.

 

Turnover

Turnover decreased by more than 10 % in the year and totalled GBP 8,572,000 for the period.

 

Operating Profit

Profit for the year was GBP 10,000.

 

Profit or Loss

Pre-tax Profit was GBP 10,000.

 

 

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

 

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions