MIRA
INFORM REPORT
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Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ACKERMAN GROUP PLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
19/07/1934 |
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Com. Reg. No.: |
00290335 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
The import and distribution of fancy goods, stationery and toys. |
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 : |
No Complaints |
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Litigation : |
Clear |
Identification Details
Subject Reported on ACKERMAN GROUP PLC
Address UNITS 15-16
Telephone 020 8523 1321
Facsimile 020 8527 6439
Web Address www.ackerman.co.uk
Creditline Recommendations
Monthly Credit Guide
GBP 250,000
Risk Category LOW RISK
Official Company Data
Legal Form Public Limited Company
Registration Number 00290335
VAT Number GB232183100
Date of Incorporation 19/07/1934
Registered
History 28/07/1992 : Change of name from D.ACKERMAN & SONS LIMITED.
Date of Last Annual
Return to Registry 29/12/2006
Accounts The last filed accounts at Companies House are those to 31/12/2005
Accounting
Reference Date 31/12
Operations
Activities The import and
distribution of fancy goods, stationery and toys.
Nace Code 5147
Premises Leased, Offices,
Warehouse, Showroom
Staff Employed 42
Import Countries
Export Countries EUROPE,
Bankers HSBC BANK PLC
Address
Sort Code 400000
Auditors UHY Hacker Young
Subsidiaries DAYSUN LIMITED
REGENCY FINE ARTS 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 2
Number Outstanding
1
Number Partially
Satisfied 0
Number Satisfied 1
Date of Latest
Mortgage Created 15/04/1997
Date of Latest
Satisfaction 24/09/1992
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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17/04/1997 |
15/04/1997 |
Fixed Charge On All Book Debts |
395 |
Midland Bank Plc |
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24/09/1992 |
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09/03/1984 |
Fixed Charge On All Book Debts |
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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10/05/2006 |
Companies House Gazette |
Change among the directors of a company |
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04/06/2001 |
Companies House Gazette |
Change among the directors of a company |
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11/10/1999 |
Companies House Gazette |
Alteration in memorandum or articles of association |
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11/10/1999 |
Companies House Gazette |
Resolutions or agreements to which section 380 applies (relating to shares, rights or names) |
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30/12/1994 |
Companies House Gazette |
Change among the directors of a company |
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28/05/1993 |
Companies House Gazette |
Change among the directors of a company |
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15/09/1992 |
Companies House Gazette |
Change among the directors of a company |
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22/07/1992 |
Companies House Gazette |
Alteration in memorandum or articles of association |
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27/11/1990 |
Companies House Gazette |
Change among the directors of a company |
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12/04/1990 |
Companies House Gazette |
Alteration in memorandum or articles of association |
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03/10/1989 |
Companies House Gazette |
Alteration in memorandum or articles of association |
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25/04/1988 |
Companies House Gazette |
Documents delivered by a company under section 241 (annual accounts) |
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10/11/1987 |
Companies House Gazette |
Change among the directors of a company |
Company Secretary
Secretary MR PAUL ELIADES
Address 53
HILLFIELD PARK, WINCHMORE HILL,
Country of Origin UNITED KINGDOM
Date of Birth 03/03/1946
Appointment Date 29/12/1992
Directors
Director DARYL PALMER
Address MARDEN COTTAGE
HORSESHOE HILL, UPSHIRE,
Country of Origin UNITED KINGDOM
Date of Birth 23/06/1960
Appointment Date 01/08/2006
Other
Directorships WESTWOODS (GARDEN)
LIMITED
Director DANIEL
IAN ACKERMAN
Address
Country of Origin UNITED KINGDOM
Date of Birth 20/01/1957
Appointment Date 01/01/1995
Other
Directorships ACKERMAN HOLDINGS
LIMITED
Director KEVIN MORONEY
Address THE THATCHED
COTTAGE, 111 BUTTERFIELD GREEN ROAD STOPSLEY,
LUTON,
Country of Origin UNITED KINGDOM
Date of Birth 18/06/1957
Appointment Date 21/05/2001
Other
Directorships HERBERT KEES (
Accountant MR PAUL ELIADES
Address 53 HILLFIELD PARK,
WINCHMORE HILL,
Country of Origin UNITED KINGDOM
Date of Birth 03/03/1946
Appointment Date 29/12/1991
Chairman MR LAURENCE
SIMON ACKERMAN
Address THE CHASE,
Country of Origin UNITED KINGDOM
Date of Birth 14/06/1944
Appointment Date 29/12/1991
Other
Directorships REGENCY FINE ARTS
LIMITED
Managing Director MR DOUGLAS
CLIVE ACKERMAN
Address LITTLE STILES,
BACK LANE NAZEING COMMON, NAZEING,
Country of Origin UNITED KINGDOM
Date of Birth 13/08/1951
Appointment Date 29/12/1991
Other
Directorships ACKERMAN HOLDINGS
LIMITED
Director MR DAVID
JONATHON ACKERMAN
Address FLAT 10 THE
HOLLIES,
Country of Origin UNITED KINGDOM
Date of Birth 25/10/1954
Appointment Date 29/12/1991
Other
Directorships HOLLIES (
Share Capital
Shares Ordinary GBP 1.00
Issued Number 118,720
Principal Shareholder 118,720 Ackerman Holdings Ltd
The above reflects the principle shareholder(s) by number
of shares held, irrespective of share classification type.
Holding Company
ACKERMAN HOLDINGS 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 31/12/2005 31/12/2004 31/12/2003 31/12/2002
Currency GBP GBP GBP GBP
SALES 19829 22690 24887 26790
Export 887 1018 1012 970
Cost of goods sold 13098 14949 17201 18618
GROSS PROFIT 6731 7741 7686 8172
Wages and Salaries 1486 1789 1536 2324
Directors
Emoluments 672 911 663 1706
Auditors Fees 30 30 29 29
Trading Profit 590 774 593 735
Depreciation 152 184 191 171
OPERATING PROFIT 438 590 402 564
Non Trading Income 2 2 4
Interest Payable 95 121 200 171
PRE TAX PROFIT 345 471 206 393
Taxation 94 155 58 88
PROFIT AFTER TAX 251 316 148 305
Dividends Payable 71
RETAINED PROFITS 180 316 148 305
Balance Sheet
The following
figures are shown in units of 1000
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
TOTAL FIXED ASSETS 486 529 677 761
Tangible Assets 479 520 667 749
Fixed Assets 395 436 583 666
Intermediate
assets 84 84 84 83
Intangible Assets 7 9 10 12
TOTAL CURRENT
ASSETS 8828 8604 9463 9084
Trade debtors 3211 3695 3691 3867
Stocks 4732 4394 4536 4463
Other Current
Assets 885 515 1236 754
Misc Current
Assets 429 282 265 208
Cash 456 233 971 546
TOTAL ASSETS 9314 9133 10140 9845
TOTAL CURRENT
LIABILITIES 1574 1567 2688 2535
Trade creditors 917 456 659 708
Short Term Loans 64 305 1595 926
Bank Overdraft 226 1504 844
Other Finance 64 79 91 82
Other Liabilities 593 806 434 901
WORKING CAPITAL 7254 7037 6775 6549
TOTAL LONG TERM
LIABS 656 662 704 710
Long Term Loans 656 662 704 710
Other Finance 656 662 704 710
NET
ASSETS/(LIABILITIES) 7084 6904 6748 6600
SHARE CAPITAL +
RESERVES 7084 6904 6748 6600
Share Cap + Sundry
Res 216 216 216 215
Issued Share
Capital 119 119 119 119
Sundry Reserves 97 97 97 96
Profit and Loss
account 6868 6688 6532 6385
SHAREHOLDERS FUNDS 7084 6904 6748 6600
CAPITAL EMPLOYED 7740 7566 7452 7310
Financial
Comparison
The following
figures are shown in units of 1000
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
Net Cashflow from
Oper. 907 970 176 398
Increase in Cash 449 540 (234) (190)
Directors
Remuneration 672 911 663 1706
Auditors
Remuneration 30 30 29 29
Liquid Assets 3667 3928 4662 4413
Net Working
Capital 7254 7037 6775 6549
Long Term
Debt(>12 Months) 656 662 704 710
Tangible Net
Worth(T.N.W) 7077 6895 6738 6588
Equity 7084 6904 6748 6600
Number of Years
Trading 71 70 69 68
Number of
Employees 42 47 48 47
Profit per
Employee 8214.3 10021.3 4291.7 8361.7
Sales per Employee 472119 482766 518479.2 570000
Key Credit Ratios
The following
figures are shown as Ratios or Percentages
Accounts Date 31/12/2005 31/12/2004 31/12/2003 31/12/2002
Current Ratio 5.6 5.5 3.5 3.6
Long Term
Debt/T.N.W 0.1 0.1 0.1 0.1
Pre Tax Profit
Margin% 1.7 2.1 0.8 1.5
Gross Profit% 33.9 34.1 30.9 30.5
Debtors Days
(D.S.O) 59 59 54 53
Creditors Days
(D.P.O) 17 7 10 10
Quick Ratio 2.6 2.7 1.8 1.8
W.I.P/Inventory
Days 131.9 107.3 96.3 87.5
Return on
Investment% 5.6 7.5 4.5 6.8
Return on Assets% 3.7 5.2 2 4
T.N.W/Total
Assets% 76 75.5 66.4 66.9
Return on Capital% 4.5 6.2 2.8 5.4
Rtn on
Shareholders Funds% 4.9 6.8 3.1 6
Working
Capital/Sales% 36.6 31 27.2 24.4
Borrowing Ratio% 10.2 14 34.1 24.8
Equity Gearing% 317.7 309.7 198.9 203.4
Stock Turnover 4.2 5.2 5.5 6
Days Purchases
Outstanding 25.6 11.1 14 13.9
Key Industry Sector
Trends
Year 2007 2006 2005 2004
Sample Size 58 6584 11903 12169
Pre-Tax Profit
Margin 2.3 3.2 2.6 3
Current Ratio 1.7 1.7 1.6 1.6
Borrowing Ratio 135.6 53.3 61.4 63.2
Return on Capital 50.6 32.6 32.6 34.9
Creditors Days 35 62 67 70
Above figures
relate to companies in 1992 Standard Industry Classification (Nace) sector :
Wholesale of household goods
Financial Summary
Auditors Qualification
The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/12/2005.
Turnover
Turnover decreased by more than 10 % in the year and totalled GBP 19,829,000 for the period.
Operating Profit
Totaled GBP 438,000. In the year prior a Profit of GBP 590,000 was achieved.
Pre Tax Profit
The subject's profit decreased by 26 % over the previous year.
Working Capital
The subject's working capital has improved by 217,000 in the period.
Net Worth
Net worth has increased by 3 % and now stands at GBP 7,084,000.
Fixed Assets
The subject's fixed assets reduced during the year by GBP 43,000 to GBP 486,000 and are now 5 % of total assets compared with 5 % in the previous year.
Long Term Liabilities
Long term liabilities are now 7 % of total liabilities compared with 7 % in the previous period.
Long Term Liabilities
Long term liabilities are 8 % of capital employed, a decrease of 1 % 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%)