MIRA
INFORM REPORT
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Report Date : |
19.07.2007 |
IDENTIFICATION DETAILS
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Name : |
EXTEC SCREENS AND CRUSHERS LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2006 |
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Date of Incorporation : |
14/01/2003 |
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Com. Reg. No.: |
04636796 |
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Legal Form : |
Private Limited |
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Line of Business : |
The manufacture, sale
and hire of screening and crushing 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 EXTEC SCREENS AND
CRUSHERS LIMITED
Address
Telephone 01283 212 121
Facsimile 01283 217 342
Email info@extecscreens.com
Web Address www.extecscreens.co.uk
Creditline Recommendations
Monthly Credit
Guide GBP 125,000
Risk Category LOW NORMAL RISK
Official Company Data
Legal Form Private Limited
Registration
Number 04636796
VAT Number GB806399995
Date of
Incorporation 14/01/2003
Registered
History 3/04/2003 : The
Registered Office address changed from FOUNTAIN PRECINCT,
BALM
GREEN,
21/03/2003 :
Change of name from BROOMCO (3113) LIMITED.
Date of Last
Annual
Return to Registry
14/01/2007
Accounts The last filed accounts
at Companies House are those to 30/06/2006
Accounting
Reference
Date 30/06
Operations
Activities The manufacture, sale and hire of screening
and crushing equipment.
Nace Code 2952
Premises Owned, Offices, Unit
Staff Employed 358
Import Countries No Import Activity
Export Countries No Export Activity
Bankers HSBC BANK PLC
Address
Sort Code 404107
Auditors PricewaterhouseCoopers LLP
Branches UNIT 9, GORTRUSH
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 14
Number Outstanding
0
Number Partially
Satisfied 0
Number Satisfied 14
Date of Latest
Mortgage Created 19/03/2007
Date of Latest
Satisfaction 29/06/2007
Details of most
recent Mortgages,
Charges and
Satisfactions
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Date Fully |
Date |
Date |
Charge |
Form Type |
Lender |
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29/06/2007 |
29/03/2007 |
19/03/2007 |
Debenture |
395 |
Allies Irish Banks, P.L.C. (As Security
Agent For The Securi |
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29/06/2007 |
29/03/2007 |
19/03/2007 |
Insurance Assignment (Of Key-Man Policies) |
395 |
Allied Irish Banks, P.L.C. (As Security
Agent For The Securi |
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05/05/2007 |
03/01/2006 |
20/12/2005 |
Debenture |
395 |
Allied Irish Banks P.L.C As Agent And
Security Trustee For T |
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05/05/2007 |
22/12/2005 |
20/12/2005 |
Legal Mortgage And Charge |
395 |
Allied Irish Banks Plc As Agent And
Security Trustee For The |
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23/05/2006 |
31/03/2003 |
11/12/2002 |
Mortgage |
400 |
3I Investments Plc |
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23/05/2006 |
31/03/2003 |
11/12/2002 |
Mortgage |
400 |
3Iinvestments Plc |
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23/05/2006 |
27/03/2003 |
12/03/2003 |
Debenture |
395 |
3I Investments Plc As Security Trustee For
Itself And As Tru |
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23/05/2006 |
27/03/2003 |
12/03/2003 |
Mortgage |
395 |
3I Investments Plc As Security Trustee For
Itself And As Tru |
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23/05/2006 |
27/03/2003 |
12/03/2003 |
Mortgage |
395 |
3I Investments Plc As Security Trustee For
Itself And As Tru |
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23/05/2006 |
20/03/2003 |
12/03/2003 |
Legal Charge |
395 |
N M Rothschild & Sons Limited |
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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13/06/2007 |
Companies House Gazette |
Change among the directors of a company |
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30/01/2007 |
Companies House Gazette |
Alteration in memorandum or articles of
association |
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14/01/2006 |
Companies House Gazette |
Change among the directors of a company |
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30/12/2005 |
Companies House Gazette |
Alteration in memorandum or articles of
association |
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30/11/2005 |
Companies House Gazette |
Change among the directors of a company |
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21/10/2005 |
Companies House Gazette |
Change among the directors of a company |
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02/04/2005 |
Companies House Gazette |
Change among the directors of a company |
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04/03/2005 |
Companies House Gazette |
Resolutions which give, vary, revoke or
renew an authority for the purposes of section 80 |
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04/03/2005 |
Companies House Gazette |
Alteration in memorandum or articles of
association |
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03/08/2004 |
Companies House Gazette |
Change among the directors of a company |
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30/01/2004 |
Companies House Gazette |
Change among the directors of a company |
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17/07/2003 |
Companies House Gazette |
Change among the directors of a company |
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03/04/2003 |
Companies House Gazette |
Change among the directors of a company |
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21/03/2003 |
Companies House Gazette |
Special resolutions passed under section
95 dis-application of pre-emption rights |
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21/03/2003 |
Companies House Gazette |
Alteration in memorandum or articles of
association |
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19/03/2003 |
Companies House Gazette |
Alteration in memorandum or articles of
association |
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17/03/2003 |
Companies House Gazette |
Change among the directors of a company |
Company Secretary
Secretary A G SECRETARIAL LIMITED
Address
Country of Origin UNITED KINGDOM
Appointment Date 21/02/2005
Other Directorships ECF GROUP PLC
Secretary IAN ENGLISH
Address 3
FIELD GATE FARM,
Country of Origin UNITED KINGDOM
Date of Birth 22/10/1969
Appointment Date 27/02/2003
Other Directorships ALBION
FOOTBALL CLUB(
LIMITED, EXTEC SCREENS AND CRUSHER HIRE LIMITED, EXTEC DISTRIBUTORS
LIMITED, EXTEC
GLOBAL LIMITED, EXTEC HOLDINGS LIMITED, EXTEC (
LIMITED, INHOCO 3259 LIMITED, INHOCO 3367 LIMITED
Directors
Accountant ANDREW MCMANUS
Address THE
COACH HOUSE, HIGH STREET MARCHINGTON,
Country of Origin UNITED KINGDOM
Date of Birth 17/11/1962
Appointment Date 21/02/2005
Other Directorships EXTEC
SCREENS & CRUSHERS (NI) LIMITED,
ENGINEERING CO. LIMITED, EXTEC INDUSTRIES LIMITED, BROOMCO (3113)
LIMITED, EXTEC SCREENS AND CRUSHER HIRE LIMITED, EXTEC DISTRIBUTORS
LIMITED, EXTEC
GLOBAL LIMITED, EXTEC HOLDINGS LIMITED, EXTEC (
LIMITED, INHOCO 3259 LIMITED, INHOCO 3367 LIMITED
Director IAN ENGLISH
Address 3
FIELD GATE FARM,
Country of Origin UNITED KINGDOM
Date of Birth 22/10/1969
Appointment Date 27/02/2003
Other Directorships ALBION
FOOTBALL CLUB(
LIMITED, EXTEC SCREENS AND CRUSHER HIRE LIMITED, EXTEC DISTRIBUTORS
LIMITED, EXTEC
GLOBAL LIMITED, EXTEC HOLDINGS LIMITED, EXTEC (
LIMITED, INHOCO 3259 LIMITED, INHOCO 3367 LIMITED
Share Capital
Shares Ordinary GBP 1.00
Issued Number 15,489,000
Shares Irredeemable
Preference GBP 0.01
Issued Number 2,304,552
Principal
Shareholder 15,489,000 Extec
UK Ltd
2,304,552 Extec
Global Ltd
The above reflects
the principle shareholder(s) by number of shares held, irrespective of share
classification type.
Holding Company EXTEC (
Ultimate Parent INHOCO 3259
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 24
Accounts Date 30/06/2006 30/06/2005 30/06/2004 30/06/2003
Currency GBP GBP GBP GBP
SALES 109490 85008 68968 23385
Export 64191 52905 17115
Cost of goods sold 82750 64861 48289 14055
GROSS PROFIT 26740 20147 20679 9330
Wages and Salaries 9525 8354 6738 2434
Directors
Emoluments 679 798 618 172
Auditors Fees 122 119 135 100
Non-Audit Fees 35 50 46
Trading Profit 12038 10778 12643 5402
Depreciation 1237 1025 934 326
OPERATING PROFIT 10801 9753 11709 5076
Non Trading Income 142 (1485) (1511) (459)
Interest Payable 25 190 2375 1015
PRE TAX PROFIT 10918 8078 7823 3602
Taxation 4671 3270 3206 1376
PROFIT AFTER TAX 6247 4808 4617 2226
Dividends Payable 13453
RETAINED PROFITS (7206) 4808 4617 2226
Balance Sheet
The following
figures are shown in units of 1000
Number of Weeks 52 52 52 24
Accounts Date 30/06/2006 30/06/2005 30/06/2004 30/06/2003
Currency GBP GBP GBP GBP
TOTAL FIXED ASSETS 65831 58029 53921 50972
Tangible Assets 37309 27794 21973 17267
Fixed Assets 13880 12351 12412 13203
Intermediate
assets 4064
Due From Group 23429 15443 9561
Intangible Assets 28522 30235 31948 33705
TOTAL CURRENT
ASSETS 38904 35081 30318 29474
Trade debtors 877 4823 3498 758
Stocks 17289 14034 10416 10586
Other Current
Assets 20738 16224 16404 18130
Misc Current
Assets 2635 2237 2939 427
Due From Group 6264 2148 4475 7963
Cash 11839 11839 8990 9740
TOTAL ASSETS 104735 93110 84239 80446
TOTAL CURRENT
LIABILITIES 46497 25837 55494 74044
Trade creditors 19442 17569 14445 14520
Short Term Loans 18120 2803 34259 49745
Other Finance 248 214 41 20
Due To Group 17872 2589 34218 49725
Other Liabilities 8935 5465 6790 9779
WORKING CAPITAL (7593) 9244 (25176) (44570)
TOTAL LONG TERM
LIABS 35183 37012 3292 3451
Long Term Loans 33583 33685 36 55
Other Finance 368 470 36 55
Due To Group 33215 33215
Other Liabilities 1600 3327 3256 3396
NET
ASSETS/(LIABILITIES) 23055 30261 25453 2951
SHARE CAPITAL +
RESERVES 23055 30261 25453 2951
Share Cap + Sundry
Res 18610 18610 18610 725
Issued Share
Capital 15512 15512 15512 725
Sundry Reserves 3098 3098 3098
Profit and Loss
account 4445 11651 6843 2226
SHAREHOLDERS FUNDS 23055 30261 25453 2951
CAPITAL EMPLOYED 58238 67273 28745 6402
Financial
Comparison
The following
figures are shown in units of 1000
Number of Weeks 52 52 52 24
Accounts Date 30/06/2006 30/06/2005 30/06/2004 30/06/2003
Currency GBP GBP GBP GBP
Directors
Remuneration 679 798 618 172
Auditors
Remuneration 122 119 135 100
Liquid Assets 12716 16662 12488 10498
Net Working
Capital (7593) 9244 (25176) (44570)
Long Term
Debt(>12 Months) 33583 33685 36 55
Other Deferred
Liabs 1600 3327 3256 3396
Tangible Net
Worth(T.N.W) (5467) 26 (6495) (30754)
Equity 23055 30261 25453 2951
Number of Years
Trading 3 2 1
Number of
Employees 358 330 309 301
Profit per
Employee 30497.2 24478.8 25317.2 11966.8
Sales per Employee 305838 257600 223197.4 77691
Key Credit Ratios
The following figures
are shown as Ratios or Percentages
Accounts Date 30/06/2006 30/06/2005 30/06/2004 30/06/2003
Current Ratio 0.8 1.4 0.5 0.4
Long Term
Debt/T.N.W (6.1) 1295.6
Pre Tax Profit
Margin% 10 9.5 11.3 15.4
Gross Profit% 24.4 23.7 30 39.9
Debtors Days
(D.S.O) 3 21 19 12
Creditors Days
(D.P.O) 65 75 76 227
Quick Ratio 0.5 0.8 0.4 0.3
W.I.P/Inventory
Days 76.3 79 78.7 274.9
Return on
Investment% 14.3 11.8 16.2 8.2
Return on Assets% 10.4 8.7 9.3 4.5
T.N.W/Total
Assets% (5.2) (7.7) (38.2)
Return on Capital% 18.7 12 27.2 56.3
Rtn on
Shareholders Funds% 47.4 26.7 30.7 122.1
Working
Capital/Sales% (6.9) 10.9 (36.5) (190.6)
Borrowing Ratio% (945.7) 140338.5 (528) (161.9)
Equity Gearing% 28.2 48.1 43.3 3.8
Stock Turnover 6.3 6.1 6.6 2.2
Days Purchases
Outstanding 85.8 98.9 109.2 377.1
Key Industry Sector
Trends
Year 2006 2005 2004 2003
Sample Size 931 1601 1610 1500
Pre-Tax Profit
Margin 5.7 2.4 0.3 0.3
Current Ratio 1.6 1.4 1.4 1.4
Borrowing Ratio 13.4 27.6 29.5 30.8
Return on Capital 41.6 30.9 28.2 26.6
Creditors Days 65 67 87 75
Above figures
relate to companies in 1992 Standard Industry Classification (Nace) sector :
Manufacture of other special purpose machinery
Financial Summary
Auditors
Qualification
The Auditors have
expressed a clean opinion (i.e. unqualified with no referrals) on the accounts
for the period ended 30/06/2006.
Turnover
Turnover increased by
29 % in the period and now totals GBP 109,490,000.
Operating Profit
Totaled GBP 10,801,000.
In the year prior a Profit of GBP 9,753,000 was achieved.
Pre Tax Profit
The subject's profit
increased by 35 % in the year.
Working Capital
The company's working
capital position has reduced from a surplus and is now a deficiency of GBP 7,593,000.
Net Worth
Net worth reduced by
GBP 7,206,000 during the period and now stands at GBP 23,055,000.
Fixed Assets
The subject's fixed
assets increased during the year by GBP 7,802,000 to GBP 65,831,000 and are now
62 % of total assets compared with 62 % in the previous year.
Long Term
Liabilities
The company's long
term liabilities reduced during the period by 4 % and are now 153 % of net
worth compared with 122 % in the previous period.
Long Term
Liabilities
Long term liabilities
are now 34 % of total liabilities compared with 40 % in the previous period.
Long Term
Liabilities
Long term liabilities
are 60 % of capital employed, an increase of 5 % 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%)