MIRA
INFORM REPORT
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Report Date : |
09.07.2007 |
IDENTIFICATION DETAILS
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Name : |
I HOLLAND LIMITED |
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Registered Office : |
Meadow Lane, Long Eaton, Nottingham, |
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Country : |
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Financials (as on) : |
31.07.2006 |
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Date of Incorporation : |
03/02/1998 |
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Com. Reg. No.: |
03503148 |
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Legal Form : |
Private Limited |
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Line of Business : |
The manufacture of
tools for pharmaceutical tablet compression and the distribution of
associated machines and maintenance equipment. |
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 : |
Regular |
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Litigation : |
Clear |
Company Identification Details
Subject Reported
on I HOLLAND LIMITED
Address
Telephone 01159726153
Facsimile 01159731789
Creditline Recommendations
Monthly Credit
Guide GBP 78,000
Risk Category LOW NORMAL RISK
Official Company Data
Legal Form Private Limited
Registration
Number 03503148
Date of
Incorporation 03/02/1998
Registered
2GD.
History 17/03/1998 : The Registered Office address changed
from
THE
LAKES,
12/03/1998 : Change of name from KELPORT LIMITED.
Date of Last
Annual
Return to Registry
03/02/2007
Accounts The last filed
accounts at Companies House are those to 31/07/2006
Accounting
Reference
Date 31/07
Operations
Activities The manufacture of
tools for pharmaceutical tablet compression and the distribution
of
associated machines and maintenance equipment.
Nace Code 3310
Premises HEAD OFFICE
Staff Employed 122
Trading Divisions PINDER VERSATOOL
Bankers NAT WEST BANK PLC
Address NOTTINGHAM SMITHS
BANK.
Sort Code 560061
Auditors Cooper Parry LLP
Branches MEADOW LA, LONG EATON NOTTINGHAM,
Subsidiaries TABLETTING SCIENCE LIMITED
TABTOOL 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 4
Number Outstanding
4
Number Partially
Satisfied 0
Number Satisfied 0
Date of Latest
Mortgage Created 13/05/1998
Details of most
recent Mortgages,
Charges and
Satisfactions
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Date Fully Satisfied |
Date |
Date |
Charge |
Form Type |
Lender |
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23/05/1998 |
13/05/1998 |
Assignment Of Life Policy |
395 |
National Bank Plc |
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23/05/1998 |
13/05/1998 |
Assignment Of Life Policy |
395 |
National Bank Plc |
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19/03/1998 |
09/03/1998 |
Mortgage Debenture |
395 |
National Bank Plc |
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19/03/1998 |
09/03/1998 |
Legal Mortgage |
395 |
National 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
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Date |
Source |
Description |
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25/08/2005 |
Companies House Gazette |
Change among the directors of a company |
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31/08/2004 |
Companies House Gazette |
Change among the directors of a company |
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15/11/2003 |
Companies House Gazette |
Change among the directors of a company |
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24/03/2003 |
Companies House Gazette |
Change among the directors of a company |
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27/09/2002 |
Companies House Gazette |
Change among the directors of a company |
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01/12/2001 |
Companies House Gazette |
Change among the directors of a company |
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24/04/1998 |
Companies House Gazette |
Alteration in memorandum or articles of association |
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24/04/1998 |
Companies House Gazette |
Resolutions which give, vary, revoke or renew an authority for the purposes
of section 80 |
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24/04/1998 |
Companies House Gazette |
Resolutions or agreements to which section 380 applies (relating to
shares, rights or names) |
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17/03/1998 |
Companies House Gazette |
Change among the directors of a company |
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27/02/1998 |
Companies House Gazette |
Change among the directors of a company |
Company Secretary
Secretary DAVID
Address 85
ARUN DALE,
NG19 9RE.
Country of Origin UNITED KINGDOM
Date of Birth 09/03/1966
Appointment Date 23/03/2004
Directors
Financial
Director DAVID
Address 85 ARUN DALE,
NG19 9RE.
Country of
Origin UNITED KINGDOM
Date of Birth 09/03/1966
Appointment Date 01/06/2004
Managing Director CHRISTOPHER CLIVE PRIDEAUX
Address 21A
0QY.
Country of
Origin UNITED KINGDOM
Date of Birth 26/02/1955
Appointment Date 20/10/2003
Director STEPHEN IVAN DEAKIN
Address
Country of
Origin UNITED KINGDOM
Date of Birth 03/01/1961
Appointment Date 09/03/1998
Other
Directorships TABTOOL LIMITED, TABLETTING SCIENCE
LIMITED, COGNOISETTE LIMITED
Director GEOFFREY PETER FOTHERGILL
Address C/O COBRA BIO-MANUFACTURING PLC, THE
KEELE
Country of
Origin UNITED KINGDOM
Date of Birth 18/11/1945
Appointment Date 13/02/1998
Other
Directorships TABTOOL LIMITED, COBRA BIOLOGICS
LIMITED, TABLETTING SCIENCE
LIMITED, COUNTERSETT
LIMITED, MARSETT MEDIA LIMITED, LOUGHBOROUGH
ENDOWED
SCHOOLS, COGNOISETTE LIMITED, COBRA BIO-MANUFACTURING
PLC, COBRA
BIOMANUFACTURING EBT LIMITED
Director MR TREVOR MARTIN HIGGINS
Address
Country of
Origin UNITED KINGDOM
Date of Birth 24/05/1952
Appointment Date 09/03/1998
Other
Directorships TABTOOL LIMITED, TABLETTING SCIENCE
LIMITED, COGNOISETTE LIMITED
Share Capital
Shares Ordinary GBP 1.00
Issued Number 618,039
Principal
Shareholder 267,666 Trevor
Martin Higgins
267,666 Stephen
Ivan Deakin
82,707 Geoffrey
Peter Fothergill
The above reflects the principle shareholder(s) by number of shares
held, irrespective of share classification type.
Ultimate Parent COGNOISETTE
LIMITED
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 52 52 52
Accounts Date 31/07/2006 31/07/2005 31/07/2004 31/07/2003
Currency GBP GBP GBP GBP
SALES 9807 9604 10173 8932
Export 8606 8267 8792 7328
Cost of goods sold 5551 5243 5380 5269
GROSS PROFIT 4256 4361 4793 3663
Wages and Salaries 2974 3112 3161 3130
Directors
Emoluments 448 446 527 421
Auditors Fees 16 15 14 13
Trading Profit 1003 1069 2134 1154
Depreciation 435 406 389 360
OPERATING PROFIT 568 663 1745 794
Non Trading Income (241) (241)
Interest Payable 111 136 120 246
PRE TAX PROFIT 457 527 1384 307
Taxation 178 205 480 151
PROFIT AFTER TAX 279 322 904 156
Dividends Payable 70 1296 40
RETAINED PROFITS 209 (974) 904 116
Balance Sheet
The following
figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 31/07/2006 31/07/2005 31/07/2004 31/07/2003
Currency GBP GBP GBP GBP
TOTAL FIXED ASSETS 7015 7449 7391 7584
Tangible Assets 4224 4417 4118 4070
Fixed Assets 2390 2583 2268 2260
Intermediate
assets 1329 1329 1329 1329
Due From Group 505 505 521 481
Intangible Assets 2791 3032 3273 3514
TOTAL CURRENT
ASSETS 2428 2156 2499 1649
Trade debtors 1460 1566 1862 1198
Stocks 711 394 313 250
Other Current
Assets 257 196 324 201
Misc Current
Assets 257 196 305 131
Cash 19 70
TOTAL ASSETS 9443 9605 9890 9233
TOTAL CURRENT
LIABILITIES 3149 2836 3102 3711
Trade creditors 1115 861 1056 647
Short Term Loans 1088 1118 486 1796
Bank Overdraft 424 951
Bank Loans 464 353 1731
Other Finance 200 167 133 65
Other Liabilities 946 857 1560 1268
WORKING CAPITAL (721) (680) (603) (2062)
TOTAL LONG TERM
LIABS 2429 3112 2157 1795
Long Term Loans 2094 2751 1842 1510
Bank Loans 595 1123 417
Other Finance 170 299 96 181
Due To Group 1329 1329 1329 1329
Other Liabilities 335 361 315 285
NET
ASSETS/(LIABILITIES) 3865 3657 4631 3727
SHARE CAPITAL +
RESERVES 3865 3657 4631 3727
Share Cap + Sundry
Res 3372 3372 3372 3372
Issued Share
Capital 1000 1000 1000 1000
Sundry Reserves 2372 2372 2372 2372
Profit and Loss
account 493 285 1259 355
SHAREHOLDERS FUNDS 3865 3657 4631 3727
CAPITAL EMPLOYED 6294 6769 6788 5522
Financial
Comparison
The following
figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 31/07/2006 31/07/2005 31/07/2004 31/07/2003
Currency GBP GBP GBP GBP
Net Cashflow from
Oper. 1264 1031 1628 1816
Increase in Cash 62 (505) (51) 481
Directors
Remuneration 448 446 527 421
Auditors
Remuneration 16 15 14 13
Liquid Assets 1460 1566 1881 1268
Net Working Capital (721) (680) (603) (2062)
Long Term
Debt(>12 Months) 2094 2751 1842 1510
Other Deferred
Liabs 335 361 315 285
Tangible Net
Worth(T.N.W) 1074 625 1358 213
Equity 3865 3657 4631 3727
Number of Years
Trading 8 7 6 5
Number of
Employees 122 123 123 133
Profit per
Employee 3745.9 4284.6 11252 2308.3
Sales per Employee 80385.2 78081.3 82707.3 67157.9
Key Credit Ratios
The following
figures are shown as Ratios or Percentages
Accounts Date 31/07/2006 31/07/2005 31/07/2004 31/07/2003
Current Ratio 0.8 0.8 0.8 0.4
Long Term
Debt/T.N.W 1.9 4.4 1.4 7.1
Pre Tax Profit
Margin% 4.7 5.5 13.6 3.4
Gross Profit% 43.4 45.4 47.1 41
Debtors Days
(D.S.O) 54 60 67 49
Creditors Days
(D.P.O) 41 33 38 26
Quick Ratio 0.5 0.6 0.7 0.4
W.I.P/Inventory
Days 46.8 27.4 21.2 17.3
Return on
Investment% 7.7 8.4 20.7 7.6
Return on Assets% 4.8 5.5 14 3.3
T.N.W/Total
Assets% 11.4 6.5 13.7 2.3
Return on Capital% 7.3 7.8 20.4 5.6
Rtn on
Shareholders Funds% 11.8 14.4 29.9 8.2
Working
Capital/Sales% (7.4) (7.1) (5.9) (23.1)
Borrowing Ratio% 296.3 619 171.4 1552.1
Equity Gearing% 69.3 61.5 88.1 67.7
Stock Turnover 13.8 24.4 32.5 35.7
Days Purchases
Outstanding 73.3 59.9 71.6 44.8
Key Industry Sector
Trends
Year 2006 2005 2004 2003
Sample Size 413 773 753 728
Pre-Tax Profit
Margin 3.4 0.9 (3.4) (10.8)
Current Ratio 1.9 1.8 1.7 1.7
Borrowing Ratio 19.8 (6) (8.5) (1.2)
Return on Capital 18.7 17.5 18.9 17.5
Creditors Days 52 49 89 129
Above figures
relate to companies in 1992 Standard Industry Classification (Nace) sector :
Manufacture of medical and surgical equipment and orthopaedic appliances
Financial Summary
Auditors
Qualification
The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/07/2006.
Turnover
The subjects turnover has increased by 2 % in the year.
Operating Profit
Totaled GBP 568,000. In the year prior a Profit of GBP 663,000 was achieved.
Pre Tax Profit
The subject's profit decreased by 13 % over the previous year.
Working Capital
The company's working capital deficiency increased in the period and now totals GBP 721,000.
Net Worth
Net worth has increased by 6 % and now stands at GBP 3,865,000.
Fixed Assets
The subject's fixed assets reduced during the year by GBP 434,000 to GBP 7,015,000 and are now 74 % of total assets compared with 77 % in the previous year.
Long Term
Liabilities
The company's long term liabilities reduced during the period by 21 % and are now 63 % of net worth compared with 85 % in the previous period.
Long Term
Liabilities
Long term liabilities are now 26 % of total liabilities compared with 32 % in the previous period.
Long Term
Liabilities
Long term liabilities are 39 % of capital employed, a decrease of 7 % 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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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%)