MIRA
INFORM REPORT
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Report Date : |
19.07.2007 |
IDENTIFICATION DETAILS
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Name : |
MARLA TUBE FITTINGS LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.10.2005 |
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Date of Incorporation : |
03/10/1956 |
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Com. Reg. No.: |
00572373 |
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Legal Form : |
Private Limited |
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Line of Business : |
Manufacturers, processing and factoring of tube fittings. |
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
Subject Reported
on MARLA TUBE
FITTINGS LIMITED
Address UNITS 1-2,
Telephone 01224 584 588
Facsimile 01224 211 938
Web Address www.hpf-energy.com
Creditline Recommendations
Monthly Credit
Guide GBP 1,125,000
Risk Category LOW RISK
Official Company Data
Legal Form Private Limited
Registration
Number 00572373
VAT Number GB109361972
Date of
Incorporation 03/10/1956
Registered
ALCESTER,
History 4/07/2001 : The
Registered Office address changed from KINWARTON FARM
ROAD,
23/12/1995 : The
Registered Office address changed from
9/11/1961 : Change
of name from MARLA METALS LIMITED.
Date of Last
Annual
Return to Registry
21/06/2007
Accounts The last filed
accounts at Companies House are those to 31/10/2005
Accounting
Reference
Date 31/10
Operations
Activities Manufacturers,
processing and factoring of tube fittings.
Nace Code 2722
Premises Owned, Warehouse,
Factory
Staff Employed 134
Trading Divisions HIGH PRESSURE
FORGINGS, PIPELINE FITTINGS & FLANGES
Trade Names HPF ENERGY
SERVICES, PIPELINE FITTINGS & FLANG, HIGH PRESSURE
FORGINGS
Import Countries
Export Countries ALL OVER THE WORLD
Bankers BARCLAYS BANK PLC
Address
Sort Code 200771
Auditors Shaw & Co
Branches HOYER INDUSTRIAL
ESTATE, ELLESMERE PORT,
UNITS 1-2,
LINKS PLACE,
Associated
Companies STUDLEY TUBE
FITTINGS LIMITED
Subsidiaries EAGLE TUBE AND
FLANGES LIMITED
HEAVYWALL FITTINGS
LIMITED
HIGH PRESSURE
FITTINGS LIMITED
PIONEER MACHINISTS
LIMITED
PRESSURE FITTINGS
LIMITED
PROMAT BD LIMITED
REDDITCH FITTINGS
& FLANGES 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 1
Number Outstanding
0
Number Partially
Satisfied 0
Number Satisfied 1
Date of Latest
Mortgage Created 20/03/1972
Date of Latest
Satisfaction 30/01/1985
Details of most
recent Mortgages,
Charges and
Satisfactions
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Date Fully |
Date |
Date |
Charge |
Form Type |
Lender |
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30/01/1985 |
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20/03/1972 |
Miscellaneous |
N/A |
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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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30/08/2006 |
Companies House Gazette |
Change among the directors of a company |
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22/12/2005 |
Companies House Gazette |
Alteration in memorandum or articles of
association |
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05/01/2005 |
Companies House Gazette |
Change among the directors of a company |
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13/11/2004 |
Companies House Gazette |
Change among the directors of a company |
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24/11/1998 |
Companies House Gazette |
Change among the directors of a company |
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17/01/1998 |
Companies House Gazette |
Change among the directors of a company |
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17/01/1991 |
Companies House Gazette |
Change among the directors of a company |
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06/03/1990 |
Companies House Gazette |
Change among the directors of a company |
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31/10/1989 |
Companies House Gazette |
Change among the directors of a company |
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17/10/1988 |
Companies House Gazette |
Documents delivered by a company under
section 241 (annual accounts) |
Company Secretary
Secretary MR JAMES ROBERT PREEDY
Address 5
SCHOOL HOUSE MEWS, HENLEY IN
5BP.
Country of Origin UNITED KINGDOM
Date of Birth 17/07/1962
Appointment Date 21/06/1991
Directors
Accountant LESLIE
Address
Country of Origin UNITED KINGDOM
Date of Birth 31/08/1956
Appointment Date 01/11/2004
Other Directorships EAGLE TUBE AND FLANGES LIMITED, PROMAT BD LIMITED, PRESSURE FITTINGS
LIMITED, REDDITCH FITTINGS & FLANGES LIMITED, HEAVYWALL FITTINGS
LIMITED, HIGH PRESSURE FITTINGS LIMITED, C K FINANCIAL PLANNING LIMITED
Director SHEILA
AGNES PREEDY
Address THE
COACH HOUSE,
Country of Origin UNITED KINGDOM
Date of Birth 02/08/1933
Appointment Date 21/06/1991
Other Directorships PRESSURE FITTINGS LIMITED
Managing Director MR SIMON
JOHN PREEDY
Address CHARTLEY
HOUSE,
Country of Origin UNITED KINGDOM
Date of Birth 06/07/1960
Appointment Date 21/06/1991
Other Directorships EAGLE TUBE AND FLANGES LIMITED, PROMAT BD LIMITED, PRESSURE FITTINGS
LIMITED, REDDITCH FITTINGS & FLANGES LIMITED, HEAVYWALL FITTINGS
LIMITED, HIGH PRESSURE FITTINGS LIMITED
Director STEVEN
ROBERT FAULKNER
Address 6
PARK HALL,
Country of Origin UNITED KINGDOM
Date of Birth 23/12/1962
Appointment Date 04/11/1998
Other Directorships REDDITCH FITTINGS & FLANGES LIMITED
Director DAVID
JOHN MARSH
Address LENCHWICK
HOUSE, LENCHWICK, EVESHAM,
Country of Origin UNITED KINGDOM
Date of Birth 02/11/1936
Appointment Date 21/06/1991
Other Directorships EAGLE
TUBE AND FLANGES LIMITED, PROMAT BD LIMITED,
& FLANGES LIMITED, HEAVYWALL FITTINGS LIMITED, HIGH PRESSURE FITTINGS
LIMITED, PACS SERVICES LIMITED
Share Capital
Shares Ordinary GBP 1.00
Issued Number 109,055
Principal
Shareholder 65,773 Simon
John Preedy
26,778 James
Robert Preedy
14,094 Susan
Mary Preedy
2,273 David
John Marsh
137 John
Yeomans
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 52 52 52
Accounts Date 31/10/2005 31/10/2004 31/10/2003 31/10/2002
Consolidated Yes Yes Yes Yes
Currency GBP GBP GBP GBP
SALES 44547 36295 33559 36060
Export 12007 10217 10657 11048
Cost of goods sold 31806 27040 25557 27306
GROSS PROFIT 12741 9255 8002 8754
Wages and Salaries 4089 3704 3499 3070
Directors
Emoluments 634 564 543 540
Auditors Fees 26 23 23 19
Non-Audit Fees 7 3 4
Trading Profit 5991 3292 2133 3625
Depreciation 413 418 428 388
OPERATING PROFIT 5578 2874 1705 3237
Non Trading Income 442 333 284 341
PRE TAX PROFIT 6020 3207 1989 3578
Taxation 1799 999 655 1119
PROFIT AFTER TAX 4221 2208 1334 2459
Dividends Payable 500 341 341
RETAINED PROFITS 4221 1708 993 2118
Balance Sheet
The following
figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 31/10/2005 31/10/2004 31/10/2003 31/10/2002
Consolidated Yes Yes Yes Yes
Currency GBP GBP GBP GBP
TOTAL FIXED ASSETS 4832 4975 5089 5167
Tangible Assets 4832 4967 5073 5142
Fixed Assets 4832 4967 5073 5142
Intangible Assets 8 16 25
TOTAL CURRENT
ASSETS 32211 27604 24547 24987
Trade debtors 13086 11380 8960 11889
Stocks 8924 6847 6261 4574
Other Current
Assets 10201 9377 9326 8524
Misc Current
Assets 8 33 73 7
Cash 10193 9344 9253 8517
TOTAL ASSETS 37043 32579 29636 30154
TOTAL CURRENT
LIABILITIES 6401 6164 4919 6445
Trade creditors 5115 4467 4067 5173
Short Term Loans 76
Bank Overdraft 76
Other Liabilities 1286 1621 852 1272
WORKING CAPITAL 25810 21440 19628 18542
TOTAL LONG TERM
LIABS 159 153 163 148
Other Liabilities 159 153 163 148
NET
ASSETS/(LIABILITIES) 30483 26262 24554 23561
SHARE CAPITAL +
RESERVES 30483 26262 24554 23561
Share Cap + Sundry
Res 402 402 402 402
Issued Share
Capital 114 114 114 114
Sundry Reserves 288 288 288 288
Profit and Loss
account 30081 25860 24152 23159
SHAREHOLDERS FUNDS 30483 26262 24554 23561
CAPITAL EMPLOYED 30642 26415 24717 23709
Financial
Comparison
The following
figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 31/10/2005 31/10/2004 31/10/2003 31/10/2002
Consolidated Yes Yes Yes Yes
Currency GBP GBP GBP GBP
Net Cashflow from
Oper. 2718 774 2227 (868)
Increase in Cash 925 15 735 (4184)
Directors Remuneration 634 564 543 540
Auditors
Remuneration 26 23 23 19
Liquid Assets 23279 20724 18213 20406
Net Working
Capital 25810 21440 19628 18542
Other Deferred
Liabs 159 153 163 148
Tangible Net
Worth(T.N.W) 30483 26254 24538 23536
Equity 30483 26262 24554 23561
Number of Years
Trading 49 48 47 46
Number of
Employees 134 137 133 125
Profit per
Employee 44925.4 23408.8 14954.9 28624
Sales per Employee 332440.3 264927 252323.3 288480
Key Credit Ratios
The following
figures are shown as Ratios or Percentages
Accounts Date 31/10/2005 31/10/2004 31/10/2003 31/10/2002
Consolidated Yes Yes Yes Yes
Current Ratio 5 4.5 5 3.9
Pre Tax Profit
Margin% 13.5 8.8 5.9 9.9
Gross Profit% 28.6 25.5 23.8 24.3
Debtors Days
(D.S.O) 107 114 97 120
Creditors Days
(D.P.O) 42 45 44 52
Quick Ratio 3.6 3.4 3.7 3.2
W.I.P/Inventory
Days 102.4 92.4 89.4 61.1
Return on
Investment% 19.6 12.1 8 15.1
Return on Assets% 16.3 9.8 6.7 11.9
T.N.W/Total
Assets% 82.3 80.6 82.8 78.1
Return on Capital% 19.6 12.1 8 15.1
Rtn on
Shareholders Funds% 19.7 12.2 8.1 15.2
Working
Capital/Sales% 57.9 59.1 58.5 51.4
Borrowing Ratio% 0.3
Equity Gearing% 464.7 415.7 483.2 357.4
Stock Turnover 5 5.3 5.4 7.9
Days Purchases
Outstanding 58.7 60.3 58.1 69.1
Key Industry Sector
Trends
Year 2006 2005 2004 2003
Sample Size 67 124 121 114
Pre-Tax Profit
Margin 7.6 2.8 (1.2)
Current Ratio 1.5 1.4 1.4 1.4
Borrowing Ratio 36.1 45.4 76.6 106.2
Return on Capital 22.3 20.5 15.8 4.2
Creditors Days 52 43 43 41
Above figures
relate to companies in 1992 Standard Industry Classification (Nace) sector :
Manufacture of tubes
Financial Summary
Auditors
Qualification
The Auditors have
expressed a clean opinion (i.e. unqualified with no referrals) on the accounts
for the period ended 31/10/2005.
Turnover
Turnover increased by
23 % in the period and now totals GBP 44,547,000.
Operating Profit
Totaled GBP 5,578,000.
In the year prior a Profit of GBP 2,874,000 was achieved.
Pre Tax Profit
The subject's profit
increased by 87 % in the year.
Working Capital
The company's working
capital has improved in the period by 20 %.
Net Worth
Net worth has
increased by 16 % and now stands at GBP 30,483,000.
Fixed Assets
The subject's fixed
assets reduced during the year by GBP 143,000 to GBP 4,832,000 and are now 13 %
of total assets compared with 15 % in the previous year.
Long Term
Liabilities
The company's long
term liabilities increased during the period by 3% and are now 1 % of net worth
compared with 1 % in 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%)