MIRA
INFORM REPORT
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Report Date : |
26.07.2007 |
IDENTIFICATION DETAILS
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Name : |
PHILIP CORNES & COMPANY LIMITED |
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Registered Office : |
Majestic Road, Nursling Estate, |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
28/02/1958 |
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Com. Reg. No.: |
00599724 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Stockists and distributors of nickel alloys, heat and
corrosion resisting stainless steels, zirconium, titanium and research
materials together with plasma cutting and profiling. |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 |
PHILIP CORNES & COMPANY LIMITED |
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Ultimate Holding Company |
PHILIP CORNES & COMPANY LTD |
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Trading Address |
LANNER BLDG, |
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Telephone |
023-8073-9333 |
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Very Low Risk - There is every confidence this company
will prove good for the assigned Credit Limit |
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Credit Limit |
GBP 718,900 |
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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 4,778,900 |
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Buying from this company? The Contract Limit is the recommended
aggregate annual value for supply contracts. |
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Significant Event
Shareholders amended
Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
00599724 |
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Date of Incorporation |
28/02/1958 |
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Registered Office |
Majestic Road, Nursling Estate, |
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Date of Last Annual Return to Registry |
28/11/2006 |
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Activities |
Stockists and distributors of nickel alloys, heat and corrosion
resisting stainless steels, zirconium, titanium and research materials
together with plasma cutting and profiling |
|
Accounts |
The last filed accounts cover the period to 31/12/2005 and
were filed on 06/11/2006 |
Recently Filed Documents
Details of the most recent documents
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Date
Received |
Description |
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28/11/2006 |
Annual Return |
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31/12/2005 |
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 |
PRESIDENT CEO |
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Address |
211, |
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Date of Birth |
22/06/1951 |
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Appointment Date |
05/04/2002 |
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Other Appointments |
PHILIP CORNES & COMPANY LIMITED, TUBESALES
WAREHOUSING LIMITED, TW METALS LIMITED, PHILIP CORNES INTERNATIONAL
LIMITED, PHILIP CORNES INTERNATIONAL FREIGHT SERVICES CO. LIMITED |
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DIRECTOR |
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Occupation |
CHAIRMAN |
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Address |
2864, |
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Country of Origin |
AMERICAN |
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Date of Birth |
21/04/1961 |
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Appointment Date |
20/12/2005 |
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Other Appointments |
PHILIP CORNES & COMPANY LIMITED, TW METALS
LIMITED, THE PHILIP CORNES GROUP CO. LIMITED |
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DIRECTOR |
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Occupation |
MANAGING DIRECTOR |
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Address |
1, |
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Country of Origin |
BRITISH |
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Date of Birth |
13/01/1962 |
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Appointment Date |
30/06/2006 |
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Other Appointments |
PHILIP CORNES & COMPANY LIMITED, TUBESALES
WAREHOUSING LIMITED, TW METALS LIMITED, THE PHILIP CORNES GROUP CO.
LIMITED, TUBESALES ( |
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SECRETARY |
MR JACK ELROD III |
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Address |
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Country of Origin |
AMERICAN |
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Date of Birth |
22/06/1951 |
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Appointment Date |
05/04/2002 |
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SECRETARY |
MR HENRY CRAFT O'NEAL |
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Address |
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Country of Origin |
US |
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Date of Birth |
21/04/1961 |
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Appointment Date |
20/12/2005 |
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SECRETARY |
MS GAIL THOMAS |
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Address |
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Country of Origin |
BRITISH |
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Date of Birth |
13/01/1962 |
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Appointment Date |
30/06/2006 |
Recently Resigned
Directors (last 3)
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DIRECTOR |
DAVID HENMAN |
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Occupation |
COMPANY DIRECTOR |
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Address |
LITTLE THATCH , |
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Country of Origin |
BRITISH |
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Date of Birth |
15/07/1945 |
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Resignation Date |
30/06/2006 |
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DIRECTOR |
JONATHAN AARON JOSLOW |
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Occupation |
CHIEF FINANCIAL OFF |
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Address |
46 , |
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Country of Origin |
AMERICAN |
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Date of Birth |
15/06/1956 |
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Resignation Date |
13/10/2005 |
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DIRECTOR |
DENNIS MATTHEW OATES |
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Occupation |
COMPANY DIRECTOR |
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Address |
1302 , |
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Country of Origin |
AMERICAN |
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Date of Birth |
14/10/1952 |
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Resignation Date |
05/04/2002 |
Share Summary
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
%age |
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PHILIP CORNES INTERNATIONAL LTD |
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100.00 |
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Mortgages and Charges
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Total Registered |
14 |
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Total Outstanding |
2 |
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Total Satisfied |
12 |
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Most Recent Mortgage |
21/10/2005 |
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Date Registered |
08/11/2005 |
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Type |
395 |
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Date Created |
21/10/2005 |
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Lender |
GENERAL ELECTRIC CAPITAL CORPORATION ACTING INDIVIDUALLY
AND IN ITS CAPACITY AS AGENT FOR THE |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM EACH CREDIT PARTY
(INCLUDING THE COMPANY) TO ANY FINANCE PARTY ON ANY ACCOUNT WHATSOEVER UNDER
THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE |
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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 |
18/10/2005 |
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Type |
395 |
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Date Created |
17/10/2005 |
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Lender |
HSBC 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 |
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 |
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Satisfied? |
Partially |
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Date Registered |
18/10/2005 |
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Type |
403B |
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Date Created |
17/10/2005 |
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Lender |
HSBC 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 |
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 |
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Satisfied? |
Partially |
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Date Registered |
08/07/1997 |
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Type |
395 |
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Date Created |
07/07/1997 |
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Lender |
CONFIDENTIAL INVOICE DISCOUNTING LIMITED |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE WHETHER ARISING UNDER AN INVOICE DISCOUNTING AGREEMENT (AS THEREIN
DEFINED) OR OTHERWISE |
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Details |
FIXED EQUITABLE CHARGE (i) ALL DEBTS THE SUBJECT OF AN
INVOICE DISCOUNTING AGREEMENT BETWEEN THE COMPANY AND THE CHARGEE THAT FAIL
TO VEST IN THE CHARGEE AND ALL RIGHTS IN FAVOUR OF THE COMPANY RELATED TO
SUCH DEBTS AND (ii) ALL OTHER AMOUNTS OWING AND ALL RIGHTS RELATING TO SUCH
AMOUNTS, FLOATING CHARGE SUCH OF THE MONEYS RECEIVED IN RESPECT OF AMOUNTS
REFERRED TO IN (ii) ABOVE AS SHALL STAND RELEASED FROM THE FIXED EQUITABLE
CHARGE |
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Satisfied? |
Fully |
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Date Registered |
08/07/1997 |
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Type |
403A |
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Date Created |
07/07/1997 |
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Lender |
CONFIDENTIAL INVOICE DISCOUNTING LIMITED |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE WHETHER ARISING UNDER AN INVOICE DISCOUNTING AGREEMENT (AS THEREIN
DEFINED) OR OTHERWISE |
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Details |
FIXED EQUITABLE CHARGE (i) ALL DEBTS THE SUBJECT OF AN
INVOICE DISCOUNTING AGREEMENT BETWEEN THE COMPANY AND THE CHARGEE THAT FAIL
TO VEST IN THE CHARGEE AND ALL RIGHTS IN FAVOUR OF THE COMPANY RELATED TO
SUCH DEBTS AND (ii) ALL OTHER AMOUNTS OWING AND ALL RIGHTS RELATING TO SUCH
AMOUNTS, FLOATING CHARGE SUCH OF THE MONEYS RECEIVED IN RESPECT OF AMOUNTS
REFERRED TO IN (ii) ABOVE AS SHALL STAND RELEASED FROM THE FIXED EQUITABLE
CHARGE |
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Satisfied? |
Fully |
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Date Registered |
04/11/1994 |
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Type |
395 |
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Date Created |
25/10/1994 |
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Lender |
LLOYDS 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 |
PLASMA EQUIPMENT ; 1.1 STATOSEC KS 2000 , 1.21 STATOSEC KS
2000 1.3 THERMAL ARC PAK 5xR |
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Satisfied? |
Fully |
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Date Registered |
04/11/1994 |
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Type |
403A |
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Date Created |
25/10/1994 |
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Lender |
LLOYDS 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 |
PLASMA EQUIPMENT ; 1.1 STATOSEC KS 2000 , 1.21 STATOSEC KS
2000 1.3 THERMAL ARC PAK 5xR |
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Satisfied? |
Fully |
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Date Registered |
04/11/1994 |
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Type |
395 |
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Date Created |
25/10/1994 |
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Lender |
LLOYDS 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 |
SUCH OF THE BOOK AND OTHER DEBTS PARTICULARS OF WHICH ARE
SPECIFIED IN THE SCHEDULE WHICH REMAINED UNPAID, AT THE DATE OF ASSIGNEMENT
AND ARISING UNDER CONTRACTS ENTERED INTO BY OR INVOICES OR OTHER
DOCUMENTATION ISSUED BY THE COMPANY'S BELGIAN OFFICE. ( PLEASE SEE DOC FOR
FURTHER DETAILS). |
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Satisfied? |
Fully |
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Date Registered |
04/11/1994 |
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Type |
403A |
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Date Created |
25/10/1994 |
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Lender |
LLOYDS 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 |
|
Details |
SUCH OF THE BOOK AND OTHER DEBTS PARTICULARS OF WHICH ARE SPECIFIED
IN THE SCHEDULE WHICH REMAINED UNPAID, AT THE DATE OF ASSIGNEMENT AND ARISING
UNDER CONTRACTS ENTERED INTO BY OR INVOICES OR OTHER DOCUMENTATION ISSUED BY
THE COMPANY'S BELGIAN OFFICE. ( PLEASE SEE DOC FOR FURTHER DETAILS). |
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Satisfied? |
Fully |
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Date Registered |
04/11/1994 |
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Type |
395 |
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Date Created |
25/10/1994 |
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Lender |
LLOYDS 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 |
|
Details |
ALL BOOK DEBTS BOTH PRESENT AND FUTURE DUE OR OWING TO THE
COMPANY WHICH ARISE OUT OF THE OPERATION OF THE COMPANY'S BELGIAN DIVISION
AND BENEFIT OF ALL RIGHTS RELATING THERETO . PLEASE SEE DOC FOR FURTHER
DETAILS, |
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Satisfied? |
Fully |
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Date Registered |
04/11/1994 |
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Type |
403B |
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Date Created |
25/10/1994 |
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Lender |
LLOYDS 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 |
|
Details |
ALL BOOK DEBTS BOTH PRESENT AND FUTURE DUE OR OWING TO THE
COMPANY WHICH ARISE OUT OF THE OPERATION OF THE COMPANY'S BELGIAN DIVISION
AND BENEFIT OF ALL RIGHTS RELATING THERETO . PLEASE SEE DOC FOR FURTHER
DETAILS, |
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Satisfied? |
Fully |
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Date Registered |
04/11/1994 |
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Type |
403A |
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Date Created |
25/10/1994 |
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Lender |
LLOYDS 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 |
|
Details |
ALL BOOK DEBTS BOTH PRESENT AND FUTURE DUE OR OWING TO THE
COMPANY WHICH ARISE OUT OF THE OPERATION OF THE COMPANY'S BELGIAN DIVISION
AND BENEFIT OF ALL RIGHTS RELATING THERETO . PLEASE SEE DOC FOR FURTHER
DETAILS, |
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Satisfied? |
Fully |
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Date Registered |
07/11/1991 |
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Type |
9999 |
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Date Created |
21/10/1991 |
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Lender |
LLOYDS 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 |
|
Details |
ANY MONEYS NOW STANDING TO THE CREDIT OF A DESIGNATED
ACCOUNT WITH LLOYDS BANK PLC AND ALL INTEREST OF THE COMPANY THEREIN AND ALL
INTEREST (IF ANY) NOW DUE OR HENCEFORTH TO BECOME DUE IN RESPECT THEREOF. THE
ACCOUNT AT LLOYDS BANK PLC DESIGNATED "LLOYDS BANK PLC" RE PHILLIP
CORNES & COMPANY LTD. |
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Satisfied? |
Fully |
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Date Registered |
07/11/1991 |
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Type |
403A |
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Date Created |
21/10/1991 |
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Lender |
LLOYDS 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 |
|
Details |
ANY MONEYS NOW STANDING TO THE CREDIT OF A DESIGNATED
ACCOUNT WITH LLOYDS BANK PLC AND ALL INTEREST OF THE COMPANY THEREIN AND ALL
INTEREST (IF ANY) NOW DUE OR HENCEFORTH TO BECOME DUE IN RESPECT THEREOF. THE
ACCOUNT AT LLOYDS BANK PLC DESIGNATED "LLOYDS BANK PLC" RE PHILLIP
CORNES & COMPANY LTD. |
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Satisfied? |
Fully |
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Date Registered |
29/12/1987 |
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Type |
9999 |
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Date Created |
21/12/1987 |
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Lender |
LLOYDS 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 |
|
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 |
|
Satisfied? |
Fully |
|
|
|
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Date Registered |
29/12/1987 |
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Type |
403B |
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Date Created |
21/12/1987 |
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Lender |
LLOYDS BANK PLC |
|
Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
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 |
|
Satisfied? |
Fully |
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Date Registered |
29/12/1987 |
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Type |
403A |
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Date Created |
21/12/1987 |
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Lender |
LLOYDS 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 |
|
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 |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
17/12/1986 |
|
Type |
9999 |
|
Date Created |
04/12/1986 |
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Lender |
LLOYDS BANK PLC |
|
Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Details |
ANY SUM OR SUMS FOR THE TIME BEING STANDING TO THE CREDIT
OF ANY PRESENT OR FUTURE ACCOUNT OF THE COMPANY WITH LLOYDS BANK P.L.C. |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
17/12/1986 |
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Type |
403A |
|
Date Created |
04/12/1986 |
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Lender |
LLOYDS BANK PLC |
|
Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Details |
ANY SUM OR SUMS FOR THE TIME BEING STANDING TO THE CREDIT OF
ANY PRESENT OR FUTURE ACCOUNT OF THE COMPANY WITH LLOYDS BANK P.L.C. |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
29/01/1986 |
|
Type |
9999 |
|
Date Created |
27/01/1986 |
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Lender |
LLOYDS BANK PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE |
|
Details |
L/H FACTORY PREMISES SITUATED |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
29/01/1986 |
|
Type |
403A |
|
Date Created |
27/01/1986 |
|
Lender |
LLOYDS BANK PLC |
|
Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE |
|
Details |
L/H FACTORY PREMISES SITUATED |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
06/06/1974 |
|
Type |
9999 |
|
Date Created |
31/05/1974 |
|
Lender |
LLOYDS BANK PLC |
|
Secured On |
FOR FURTHER SECURING ALL MONIES DUE OR TO BECOME DUE FROM
THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Details |
WASHPOND INDUSTRIAL ESTATE, |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
06/06/1974 |
|
Type |
403A |
|
Date Created |
31/05/1974 |
|
Lender |
LLOYDS BANK PLC |
|
Secured On |
FOR FURTHER SECURING ALL MONIES DUE OR TO BECOME DUE FROM THE
COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Details |
WASHPOND INDUSTRIAL ESTATE, |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
26/08/1968 |
|
Type |
9999 |
|
Date Created |
16/08/1968 |
|
Lender |
LLOYDS BANK PLC |
|
Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER NOT EXCEEDING 10,000 |
|
Details |
PREMISES AT LITTLE |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
26/08/1968 |
|
Type |
403A |
|
Date Created |
16/08/1968 |
|
Lender |
LLOYDS BANK PLC |
|
Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER NOT EXCEEDING 10,000 |
|
Details |
PREMISES AT LITTLE |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
02/02/1968 |
|
Type |
9999 |
|
Date Created |
18/01/1968 |
|
Lender |
LLOYDS BANK PLC |
|
Secured On |
ALL MONIES DUE ETC NE 10,000 |
|
Details |
LAND N/E SIDE OF LITTLE EDWARD |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
02/02/1968 |
|
Type |
403A |
|
Date Created |
18/01/1968 |
|
Lender |
LLOYDS BANK PLC |
|
Secured On |
ALL MONIES DUE ETC NE 10,000 |
|
Details |
LAND N/E SIDE OF LITTLE EDWARD |
|
Satisfied? |
Fully |
|
|
|
|
Date Created |
11/02/1972 |
|
Satisfied? |
Fully |
Public Record
Information
Summary of CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
|
|
|
|
Activities |
Stockists and distributors of nickel alloys, heat and
corrosion resisting stainless steels, zirconium, titanium and research materials
together with plasma cutting and profiling |
|
Sic Code |
Description |
|
5152 |
Wholesale of metals and metal ores |
|
Staff Employed |
50 |
|
Auditors |
PricewaterhouseCoopers LLP |
|
Auditors Notes |
No Qualification. The Auditors have expressed a clean
opinion (i.e. unqualified with no referrals) on the latest accounts. |
|
Bankers |
Lloyds TSB Bank PLC |
|
Sort Codes |
306762 |
|
Bankers |
HSBC Bank PLC |
|
Sort Codes |
404251 |
Financial Data
|
The following figures are shown in units of 000 |
|
Profit and Loss |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2005 |
31/12/2004 |
31/12/2003 |
31/12/2002 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Consolidated? |
No |
No |
No |
No |
|
SALES |
15,778 |
9,764 |
7,481 |
6,105 |
|
Cost of goods sold |
11,428 |
7,280 |
6,026 |
4,835 |
|
GROSS PROFIT |
4,351 |
2,485 |
1,455 |
1,270 |
|
Other Expenses |
818 |
754 |
658 |
672 |
|
General administration costs (-) |
512 |
397 |
414 |
323 |
|
Wages and Salaries |
955 |
733 |
628 |
740 |
|
Depreciation |
64 |
59 |
66 |
71 |
|
Net Operating Profit(Loss) |
3,020 |
1,170 |
383 |
275 |
|
Non Trading Income |
14 |
- |
0 |
0 |
|
Total Non Trading Income |
14 |
0 |
0 |
0 |
|
Interest expenses & similar (-) |
7 |
7 |
7 |
8 |
|
Financial Expenses |
7 |
7 |
7 |
8 |
|
PRE TAX PROFIT |
3,028 |
1,164 |
376 |
267 |
|
Other Taxation |
-46 |
53 |
12 |
-71 |
|
Taxation |
792 |
332 |
0 |
13 |
|
PROFIT AFTER TAX |
2,282 |
779 |
364 |
325 |
|
Net Profit |
2,282 |
779 |
364 |
325 |
|
RETAINED PROFITS |
|
779 |
364 |
325 |
|
Balance Sheet |
|
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 |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL FIXED ASSETS |
193 |
233 |
268 |
319 |
|
Plant, machinery & equipment |
193 |
233 |
268 |
319 |
|
TOTAL CURRENT ASSETS |
8,230 |
5,645 |
6,652 |
6,003 |
|
Stocks |
2,394 |
2,545 |
1,863 |
2,220 |
|
Trade Debtors |
2,510 |
1,791 |
1,268 |
858 |
|
Other Receivables |
0 |
0 |
3 |
1 |
|
Prepaid expenses |
45 |
39 |
45 |
41 |
|
Group Loans |
1,649 |
1,236 |
3,390 |
2,589 |
|
Cash |
1,581 |
8 |
5 |
204 |
|
own shares |
52 |
- |
- |
- |
|
TOTAL ASSETS |
8,423 |
5,878 |
6,920 |
6,321 |
|
TOTAL CURRENT LIABILITIES |
4,122 |
3,865 |
5,688 |
5,434 |
|
Trade Creditors |
3,236 |
3,032 |
1,605 |
1,510 |
|
Taxes |
528 |
271 |
129 |
- |
|
Other Current Liabilities |
100 |
100 |
- |
182 |
|
Accruals & deferred income |
258 |
154 |
88 |
81 |
|
WORKING CAPITAL |
4,109 |
1,780 |
964 |
569 |
|
TOTAL LONG TERM LIABS |
0 |
0 |
0 |
0 |
|
NET ASSETS/(LIABILITIES) |
4,301 |
2,013 |
1,232 |
888 |
|
SHARE CAPITAL + RESERVES |
4,301 |
2,013 |
1,232 |
888 |
|
Issued Share Capital |
500 |
500 |
500 |
500 |
|
Profit and Loss account |
3,801 |
1,513 |
732 |
388 |
|
SHAREHOLDERS FUNDS |
4,301 |
2,013 |
1,232 |
888 |
|
CAPITAL EMPLOYED |
4,301 |
2,013 |
1,232 |
888 |
|
TANGIBLE NET WORTH |
4,301 |
2,013 |
1,232 |
888 |
Key Credit Ratios
|
Accounts Date |
31/12/2005 |
31/12/2004 |
31/12/2003 |
31/12/2002 |
|
Current Ratio |
2.00 |
1.46 |
1.17 |
1.10 |
|
Profit Before Tax |
0.19 |
0.12 |
0.05 |
0.04 |
|
Creditors Days (D.P.O) |
103.36 |
152.04 |
97.22 |
113.99 |
|
Quick Ratio |
- |
- |
- |
- |
|
Return on Assets |
35.95 |
19.80 |
5.43 |
4.22 |
|
T.N.W/Total Assets |
0.51 |
0.34 |
0.18 |
0.14 |
|
Return on Capital |
70.40 |
57.82 |
30.52 |
30.07 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
Financial Summary
|
Turnover |
Turnover increased by more than 62% in the period.
Turnover totaled GBP 15,778,000 for the period. |
|
Operating Profit |
Totaled GBP 3,020,000 In the period prior a profit of GBP
1,170,000 was achieved. |
|
Pre Tax |
The subject made a profit of GBP 3,028,000 compared with a
profit of GBP 1,164,000 in the previous period. |
|
Working Capital |
The company's working capital improved in the period by
131% |
|
Tangible Net Worth |
Net worth increased by 2,288,000 during the period and now
stands at GBP 4,301,000 |
|
Fixed Assets |
The subjects fixed assets reduced during the period by GBP
40,000 to GBP 193,000 and are now 2% of total assets compared
with 4% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities increased during the
period by 68% and are now 6% of net worth compared with 8% in the previous period
|
|
Long Term Liabilities |
Long term liabilities are now 3% of total assets compared
with 3% 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%)