MIRA
INFORM REPORT
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Report Date : |
12.07.2007 |
IDENTIFICATION DETAILS
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Name : |
BWI PLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
25/01/1951 |
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Com. Reg. No.: |
00490893 |
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Legal Form : |
Public Limited Liability Company (GB) |
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Line of Business : |
Packaging and processing equipment manufacturers.
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company
Identification Details
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Subject Reported on |
BWI PLC |
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Holding Company |
IWKA Pacunion GmbH |
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Ultimate Holding Company |
Odewald & Compagnie Gesellschaf |
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Trading Address |
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Telephone |
0151-547-8000 |
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Risk Score |
Low Risk - There is a high degree of confidence this
company will prove good for the assigned Credit Limit |
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Credit Limit |
GBP 31,400 |
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Selling to this company? The Credit Limit is the recommended
maximum outstanding debtor exposure at any one time. |
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Contract Limit |
GBP 31,400 |
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Buying from this company? The Contract Limit is the
recommended aggregate annual value for supply contracts. |
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Official Company Data
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|
Legal Form |
Public Limited Liability Company (GB) |
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Registration Number |
00490893 |
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Date of Incorporation |
25/01/1951 |
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Registered Office |
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Date of Last Annual Return to Registry |
12/12/2006 |
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Activities |
Packaging and processing equipment manufacturers.
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Accounts |
The last filed accounts cover the period to 31/12/2006 |
Recently Filed
Documents
Details of the most recent documents
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Date
Received |
Description |
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12/12/2006 |
Annual Return |
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31/12/2006 |
Financial Statement / Set of Accounts |
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It should be noted that there is no legal requirement to file
satisfaction details of mortgages/charges at Companies House. |
Known Directors
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
CHERRY COTTAGE 2, |
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Country of Origin |
BRITISH |
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Date of Birth |
05/09/1944 |
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Appointment Date |
04/08/2000 |
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Other Appointments |
CANFLOW LIMITED, THOMAS HILL ENGINEERING
COMPANY(HULL) .LIMITED(THE), WEHMILLER LIMITED, MANESTY MACHINES
LIMITED, CALEB DUCKWORTH LIMITED, WINCOLMLEE FOUNDRY
LIMITED, BWI PLC, MANESTY ENGINEERING LTD , ONLINE ENGINEERING
PROJECTS LIMITED, ALUPRESS LIMITED, STAR ENGINEERING (FULHAM) LTD
, STAINBLACK FABRICATORS LTD, R.A. JONES EUROPAK LIMITED,
ROCKWELL PACKAGING MACHINES LTD , BARRY WEHMILLER
LIMITED, TRUSTPAK LIMITED, ROCKWELL PAKFAST LTD, U.D.
ENGINEERING CO. (U.K.) LIMITED, ONLINE ENGINEERING LIMITED, KP
AEROFILL LIMITED, AEROFILL ENGINEERING LIMITED, HILLS PACKAGING
MACHINERY LIMITED, DAWSON PACKAGING SYSTEMS LIMITED, B W
INTERNATIONAL (HOLDINGS) LIMITED, MANESTY LIMITED |
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
ISESTR 121 20149, |
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Country of Origin |
AUSTRIAN |
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Date of Birth |
17/09/1957 |
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Appointment Date |
01/10/2004 |
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Other Appointments |
BWI PLC, KP AEROFILL LIMITED, DAWSON PACKAGING
SYSTEMS LIMITED, B W INTERNATIONAL (HOLDINGS) LIMITED, MANESTY
LIMITED |
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DIRECTOR |
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Occupation |
MANAGING DIRECTOR |
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Address |
, STETTINER STR 5 , |
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Country of Origin |
GERMAN |
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Date of Birth |
16/08/1957 |
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Appointment Date |
01/04/2006 |
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Other Appointments |
BWI PLC, KP AEROFILL LIMITED, B W INTERNATIONAL
(HOLDINGS) LIMITED, MANESTY LIMITED |
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SECRETARY |
MR BARRY JAMESON |
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Address |
CHERRY COTTAGE |
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Country of Origin |
BRITISH |
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Date of Birth |
05/09/1944 |
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Appointment Date |
30/04/2004 |
Recently Resigned
Directors (last 3)
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DIRECTOR |
ANDREAS GEURTS |
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Occupation |
DIRECTOR |
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Address |
BILKER ALLEE 22 , |
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Country of Origin |
GERMAN |
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Date of Birth |
31/01/1963 |
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Resignation Date |
31/03/2006 |
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DIRECTOR |
ROLAND GEORG MERK |
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Occupation |
COMPANY DIRECTOR |
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Address |
EDITH-STEIN-WEG 3A , BADEN |
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Country of Origin |
GERMAN |
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Date of Birth |
10/05/1938 |
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Resignation Date |
28/02/2005 |
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DIRECTOR |
JURGEN ERICH ALEXANDER BOUVIER |
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Occupation |
COMPANY DIRECTOR |
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Address |
AM KARLSHOF 1 63667 , |
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Country of Origin |
GERMAN |
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Date of Birth |
14/12/1941 |
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Resignation Date |
31/08/2004 |
Share Summary
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
%age |
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IWKA AG |
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0.00 |
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Mortgages and Charges
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Total Registered |
13 |
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Total Outstanding |
1 |
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Total Satisfied |
12 |
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Most Recent Mortgage |
13/06/2007 |
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Date Registered |
22/06/2007 |
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Type |
395 |
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Date Created |
13/06/2007 |
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Lender |
DRESDNER BANK AG, NIEDERLASSUNG |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM EACH OBLIGOR TO THE
SECURITY AGENT OF THE SECURED PARTIES (OR ANY OF THEM) ON ANY ACCOUNT
WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR
EVIDENCING THE CHARGE |
|
Details |
FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL
PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED
CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE
DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
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Date Registered |
28/12/2001 |
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Type |
395 |
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Date Created |
28/12/2001 |
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Lender |
HSBC ASSET FINANCE ( |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE
ON ANY ACCOUNT WHATSOEVER |
|
Details |
ALL AND SINGULAR THE CHATTELS PLANT MACHINERY AND THINGS
BEING; DIXI 200 HORIZONTAL MACHINING CENTRE, S/NO. 34 |
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Satisfied? |
Fully |
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Date Registered |
28/12/2001 |
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Type |
403A |
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Date Created |
28/12/2001 |
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Lender |
HSBC ASSET FINANCE ( |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER |
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Details |
ALL AND SINGULAR THE CHATTELS PLANT MACHINERY AND THINGS
BEING; DIXI 200 HORIZONTAL MACHINING CENTRE, S/NO. 34 |
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Satisfied? |
Fully |
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Date Registered |
28/11/1985 |
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Type |
9999 |
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Date Created |
20/11/1985 |
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Lender |
MIDLAND BANK PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER |
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Details |
F/H PROPERTY K/A LAND ON THE NORTH SIDE OF |
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Satisfied? |
Fully |
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Date Registered |
07/08/1985 |
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Type |
9999 |
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Date Created |
29/07/1985 |
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Lender |
VICKERS PUBLIC LIMITED COMPANY. |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE NOT EXCEEDING 400,000 UNDER THE TERMS OF A FACILITY LETTER DATED
29-7-85. |
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Details |
A FLOATING CHARGE OVER UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE (SEE DOC M121) |
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Satisfied? |
Fully |
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Date Registered |
13/08/1984 |
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Type |
9999 |
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Date Created |
24/07/1984 |
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Lender |
CITICORP INDUSTRIAL CREDIT INC. |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THECOMPANIES NAMED
THEREIN UNDER THE TERMS OF THE FINANCING AGREEMENTS OF EVEN DATE TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER. |
|
Details |
SECURITY INTEREST IN AND TO THE PROPERTY OF BARRY-WEHMILLER
LIMITED AS LISTED ON DOC M 119. |
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Satisfied? |
Fully |
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Date Registered |
06/07/1984 |
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Type |
9999 |
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Date Created |
27/06/1984 |
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Lender |
MANUFACTURERS HANOVER TRUST COMPANY. |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Details |
SPECIFIC AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL
PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED
CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY. |
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Satisfied? |
Fully |
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Date Created |
27/06/1984 |
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Satisfied? |
Fully |
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Date Created |
11/07/1990 |
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Satisfied? |
Fully |
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Date Created |
11/07/1990 |
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Satisfied? |
Fully |
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Date Created |
20/11/1985 |
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Satisfied? |
Fully |
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Date Created |
20/11/1985 |
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Satisfied? |
Fully |
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Date Created |
29/07/1985 |
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Lender |
VICKERS PUBLIC LTD CO |
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Secured On |
ALL MONIES - MULTIPLE |
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Satisfied? |
Fully |
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Date Created |
23/07/1984 |
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Satisfied? |
Fully |
Public Record
Information
Summary of CCJ's/Scottish Decrees
|
There are no unsatisfied CCJs against the company. |
Operations
|
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|
Activities |
Packaging and processing equipment manufacturers.
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Sic Code |
Description |
|
2953 |
Manufacture of machinery for food, beverage and tobacco
processing |
|
2914 |
Manufacture of bearings, gears, gearing and driving elements |
|
Staff Employed |
429 |
|
Auditors |
Ernst & Young LLP |
|
Auditors Notes |
No Qualification. The Auditors have expressed a clean
opinion (i.e. unqualified with no referrals) on the latest accounts. |
|
Bankers |
HSBC Bank Plc |
|
Sort Codes |
402042 |
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Bankers |
HSBC Bank PLC |
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Sort Codes |
403124 |
Financial Data
|
The following figures are shown in units of 000 |
|
Profit and Loss |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Consolidated? |
No |
No |
No |
No |
|
SALES |
27,198 |
31,379 |
30,198 |
30,044 |
|
Export Sales |
20,378 |
23,587 |
22,618 |
22,769 |
|
Cost of goods sold |
22,625 |
26,148 |
24,229 |
27,976 |
|
GROSS PROFIT |
4,573 |
5,231 |
5,969 |
2,068 |
|
Other Expenses |
1,862 |
2,673 |
3,011 |
3,249 |
|
General administration costs (-) |
2,520 |
2,694 |
3,783 |
4,540 |
|
Wages and Salaries |
8,352 |
9,955 |
11,042 |
11,928 |
|
Depreciation |
836 |
892 |
1,058 |
990 |
|
Net Operating Profit(Loss) |
191 |
-136 |
-825 |
-5,721 |
|
Non Trading Income |
9 |
1,646 |
18 |
1,435 |
|
Group Non Trading Income |
1,658 |
1,692 |
976 |
- |
|
Other financial income |
1,897 |
- |
- |
- |
|
Total Non Trading Income |
3,564 |
3,338 |
994 |
1,435 |
|
Interest expenses & similar (-) |
3,431 |
3,887 |
1,109 |
1,302 |
|
Other financial charges |
1,317 |
740 |
348 |
706 |
|
Financial Expenses |
4,748 |
4,627 |
1,457 |
2,008 |
|
PRE TAX PROFIT |
-993 |
-1,425 |
-1,288 |
-6,294 |
|
Other Taxation |
-59 |
-127 |
0 |
-33 |
|
Taxation |
0 |
0 |
-228 |
0 |
|
PROFIT AFTER TAX |
-934 |
-1,298 |
-1,060 |
-6,261 |
|
Net Loss |
934 |
1,298 |
1,060 |
6,261 |
|
Dividends Payable |
0 |
0 |
0 |
0 |
|
RETAINED PROFITS |
- |
- |
- |
- |
|
Balance Sheet |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL FIXED ASSETS |
19,545 |
20,086 |
21,388 |
21,989 |
|
Land & buildings |
1,755 |
1,696 |
2,279 |
2,416 |
|
Plant, machinery & equipment |
2,004 |
2,554 |
3,223 |
3,933 |
|
Intermediate Assets |
15,640 |
15,640 |
15,640 |
15,640 |
|
Intangible Assets |
146 |
196 |
246 |
- |
|
TOTAL CURRENT ASSETS |
39,033 |
40,842 |
39,744 |
43,738 |
|
Stocks |
5,104 |
5,142 |
5,497 |
5,717 |
|
Trade Debtors |
5,727 |
4,260 |
5,239 |
7,506 |
|
Other Receivables |
115 |
147 |
237 |
206 |
|
Prepaid expenses |
403 |
561 |
1,421 |
671 |
|
Group Loans |
26,890 |
30,405 |
27,346 |
29,617 |
|
Cash |
794 |
327 |
4 |
21 |
|
TOTAL ASSETS |
58,578 |
60,928 |
61,132 |
65,727 |
|
TOTAL CURRENT LIABILITIES |
44,041 |
44,564 |
41,017 |
44,414 |
|
Trade Creditors |
4,192 |
2,663 |
4,947 |
3,871 |
|
Bank Overdraft |
26,283 |
38,219 |
32,213 |
35,766 |
|
Taxes |
378 |
483 |
324 |
593 |
|
Other Current Liabilities |
1,903 |
1,226 |
1,964 |
1,798 |
|
Due From Group |
10,011 |
546 |
191 |
41 |
|
Accruals & deferred income |
1,274 |
1,298 |
1,240 |
2,168 |
|
WORKING CAPITAL |
-5,008 |
-3,722 |
-1,273 |
-676 |
|
TOTAL LONG TERM LIABS |
15,923 |
16,778 |
404 |
542 |
|
Other Long Term Liabilities |
15,923 |
16,778 |
275 |
275 |
|
NET ASSETS/(LIABILITIES) |
14,537 |
16,364 |
20,115 |
21,313 |
|
SHARE CAPITAL + RESERVES |
-1,386 |
-414 |
19,711 |
20,771 |
|
Issued Share Capital |
5,228 |
5,228 |
5,228 |
5,228 |
|
Share Premium Accounts |
12,217 |
12,217 |
12,217 |
12,217 |
|
Reserves |
10,113 |
10,113 |
10,113 |
10,113 |
|
Profit and Loss account |
-28,944 |
-27,972 |
-7,847 |
-6,787 |
|
SHAREHOLDERS FUNDS |
-1,386 |
-414 |
19,711 |
20,771 |
|
CAPITAL EMPLOYED |
14,537 |
16,364 |
20,115 |
21,313 |
|
TANGIBLE NET WORTH |
-1,532 |
-610 |
19,465 |
20,771 |
|
Key Credit Ratios |
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Current Ratio |
0.89 |
0.92 |
0.97 |
0.98 |
|
Profit Before Tax |
-0.04 |
-0.05 |
-0.04 |
-0.21 |
|
Creditors Days (D.P.O) |
67.63 |
37.17 |
74.52 |
50.50 |
|
Quick Ratio |
- |
- |
- |
- |
|
Return on Assets |
-2.32 |
-3.16 |
-2.85 |
-12.57 |
|
T.N.W/Total Assets |
-0.03 |
-0.01 |
0.32 |
0.32 |
|
Return on Capital |
0.80 |
-2.70 |
-0.30 |
-1.11 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Equity Gearing |
0.00 |
0.00 |
0.71 |
0.76 |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
Financial Summary
|
Turnover |
Turnover decreased by more than 13% in the period.
Turnover totaled GBP 27,198,000 for the period. |
|
Operating Profit |
Totaled GBP 191,000 In the period prior a loss of
GBP 136,000 was achieved. |
|
Pre Tax |
The subject made a loss of GBP 993,000 compared with a
loss of GBP 1,425,000 in the previous period. |
|
Working Capital |
The company's working capital deficiency increased in the
period and now stands at GBP 5,008,000 |
|
Tangible Net Worth |
Net worth reduced by 922,000 during the period and now
stands at GBP -1,532,000 |
|
Fixed Assets |
The subjects fixed assets reduced during the period by GBP
491,000 to GBP 3,759,000 and are now 6% of total assets compared
with 7% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities reduced during the period
by 5% and are now -1123% of net worth compared with -2963% in the previous
period |
|
Long Term Liabilities |
Long term liabilities are now 29% of total assets compared
with 30% in 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 |
|
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%)