MIRA
INFORM REPORT
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Report Date : |
20.06.2007 |
IDENTIFICATION DETAILS
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Name : |
STOLT-NIELSEN TRANSPORTATION GROUP LIMITED |
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Registered Office : |
Ground Floor, Aldwych Ho, 71-91 Aldwych, |
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Country : |
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Financials (as on) : |
30.11.2005 |
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Date of Incorporation : |
30/10/1990 |
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Com. Reg. No.: |
02553705 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
The provision of tank containers, together with associated
transportation services, to the international chemical and food
industries. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Subject Reported
on |
STOLT-NIELSEN TRANSPORTATION GROUP LIMITED |
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Holding Company |
THE ANTHONY RADCLIFFE STEAMSHIP COMPANY LTD |
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Ultimate Holding
Company |
STOLT-NIELSEN SA |
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Trading Address |
STOLT-NIELSEN HO, |
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Telephone |
01708-746070 |
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Credit Limit |
US Dollar 127,300 |
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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 |
US Dollar 1,831,600 |
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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 |
Private Limited Liability Company (GB) |
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Registration Number |
02553705 |
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Date of Incorporation |
30/10/1990 |
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Registered Office |
Ground Floor, Aldwych Ho, 71-91 Aldwych, |
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Date of Last Annual Return to Registry |
23/09/2006 |
|
Activities |
The provision of tank containers, together with associated transportation
services, to the international chemical and food industries. |
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Accounts |
The last filed accounts cover the period to 30/11/2005 |
Payment Performance
|
Summary |
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|
Days Beyond Terms (DBT) for |
06/2007 |
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No. Of Experiences |
12 |
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No. Of References |
6 |
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Current DBT |
0 |
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DBT Monthly Trend |
|
Month |
05/2007 |
04/2007 |
03/2007 |
02/2007 |
01/2007 |
12/2006 |
11/2006 |
10/2006 |
09/2006 |
08/2006 |
07/2006 |
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DBT |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
14 |
17 |
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Industry DBT Comparison |
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Upper Quartile |
0 |
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Median Quartile |
5 |
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Lower Quartile |
17 |
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DBT Table |
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Period |
1-3mths |
4-6mths |
7-12mths |
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DBT |
Exp |
Amt |
Exp |
Amt |
Exp |
Amt |
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Within Terms |
7 |
11,130 |
4 |
12,500 |
1 |
1,500 |
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0-30 |
0 |
0 |
0 |
0 |
0 |
0 |
|
31-60 |
0 |
0 |
0 |
0 |
0 |
0 |
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61-90 |
0 |
0 |
0 |
0 |
0 |
0 |
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91-120 |
0 |
0 |
0 |
0 |
0 |
0 |
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121-180 |
0 |
0 |
0 |
0 |
0 |
0 |
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Total |
7 |
11,130 |
4 |
12,500 |
1 |
1,500 |
Recently Filed
Documents
Details of the most recent documents
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Date Received |
Description |
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23/09/2006 |
Annual Return |
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30/11/2005 |
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 |
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Address |
9, MALVERN CLOSE FLITWICK , |
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Date of Birth |
24/01/1952 |
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Appointment Date |
01/03/2000 |
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Other Appointments |
DELTANK LTD , STOLT-NIELSEN TRANSPORTATION GROUP LIMITED, INTERNATIONAL TANK CONTAINER ORGANIZATION |
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DIRECTOR |
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Occupation |
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Address |
MULBERRY , |
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Country of Origin |
NORWEGIAN |
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Date of Birth |
23/01/1965 |
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Appointment Date |
08/12/2003 |
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Other Appointments |
SEA FARM (AQUACULTURE) LTD , STOLT SEA FARM HOLDINGS PLC., STOLT-NIELSEN
TRANSPORTATION GROUP LIMITED, STOLT-NIELSEN LTD. |
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SECRETARY |
MR NIGEL PRITCHARD |
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Address |
HANEDOESSTRAAT 2F, DEN HAAG , 2597XG |
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Country of Origin |
BRITISH |
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Appointment Date |
31/05/2002 |
Recently Resigned
Directors (last 3)
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DIRECTOR |
REGINALD JOHN ROBERT LEE |
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Address |
9 , |
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Date of Birth |
23/05/1943 |
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Resignation Date |
08/12/2003 |
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DIRECTOR |
MR CHRISTOPHER J WRIGHT |
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Address |
8 , REDCLIFFE MEWS , |
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Date of Birth |
14/09/1934 |
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Resignation Date |
31/12/2001 |
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DIRECTOR |
MR CHRISTOPHER TRETT |
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Address |
1 , GARTHWOOD CLOSE , |
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Date of Birth |
28/08/1951 |
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Resignation Date |
28/08/2001 |
Share Summary
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
%age |
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R J R Lee |
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1.00 |
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Mortgages and Charges
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There are no mortgages |
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Public Record
Information
Summary of
CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
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Activities |
The provision of tank containers, together with associated transportation
services, to the international chemical and food industries. |
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Sic Code |
Description |
|
5165 |
Wholesale of other machinery for use in industry, trade and navigation |
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7134 |
Renting of other machinery and equipment not elsewhere classified |
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Staff Employed |
30 |
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Auditors |
Deloitte & Touche LLP |
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Auditors Notes |
No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified
with no referrals) on the latest accounts. |
Financial Data
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The following figures are shown in units of 000 |
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Profit and Loss |
|
Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
30/11/2005 |
30/11/2004 |
30/11/2003 |
30/11/2002 |
|
Currency |
US Dollar |
US Dollar |
US Dollar |
US Dollar |
|
Consolidated? |
No |
No |
No |
No |
|
SALES |
107,426 |
98,746 |
102,376 |
113,531 |
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Other operating income |
560 |
653 |
653 |
254 |
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Cost of goods sold |
93,053 |
89,154 |
91,320 |
100,149 |
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GROSS PROFIT |
14,373 |
9,591 |
11,056 |
13,382 |
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General administration costs (-) |
12,599 |
10,378 |
10,869 |
10,569 |
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Wages and Salaries |
1,994 |
1,340 |
1,780 |
1,578 |
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Depreciation |
959 |
837 |
866 |
529 |
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Net Operating Profit(Loss) |
2,333 |
-134 |
840 |
3,067 |
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Non Trading Income |
5 |
18 |
11 |
49 |
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Other financial income |
109 |
75 |
398 |
1 |
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Total Non Trading Income |
114 |
93 |
409 |
83 |
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Interest expenses & similar (-) |
4 |
3 |
10 |
7 |
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Financial Expenses |
4 |
3 |
10 |
7 |
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PRE TAX PROFIT |
2,443 |
-44 |
1,239 |
3,142 |
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Other Taxation |
-193 |
27 |
38 |
77 |
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Taxation |
888 |
98 |
458 |
1,254 |
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PROFIT AFTER TAX |
1,748 |
-170 |
742 |
1,811 |
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Net Profit |
1,748 |
- |
742 |
1,811 |
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Dividends Payable |
0 |
0 |
0 |
0 |
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RETAINED PROFITS |
1,748 |
- |
742 |
1,811 |
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Balance Sheet |
|
Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
30/11/2005 |
30/11/2004 |
30/11/2003 |
30/11/2002 |
|
Currency |
US Dollar |
US Dollar |
US Dollar |
US Dollar |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL FIXED ASSETS |
8,238 |
10,062 |
10,860 |
11,267 |
|
Land & buildings |
3,598 |
4,216 |
4,236 |
4,261 |
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Plant, machinery & equipment |
1,259 |
1,937 |
2,615 |
2,647 |
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Intermediate Assets |
3,381 |
3,909 |
4,009 |
4,359 |
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TOTAL CURRENT ASSETS |
86,029 |
79,773 |
54,178 |
46,376 |
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Trade Debtors |
39,839 |
39,890 |
32,832 |
26,515 |
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Prepaid expenses |
246 |
264 |
323 |
308 |
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Group Loans |
44,951 |
37,913 |
19,957 |
17,746 |
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Tax Recoverable |
272 |
226 |
329 |
558 |
|
own shares |
721 |
405 |
- |
1,249 |
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TOTAL ASSETS |
94,267 |
89,836 |
65,038 |
57,643 |
|
TOTAL CURRENT LIABILITIES |
77,783 |
74,985 |
50,024 |
43,409 |
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Trade Creditors |
10,959 |
11,816 |
14,741 |
7,547 |
|
Bank Overdraft |
40 |
- |
- |
2,279 |
|
Taxes |
452 |
- |
- |
- |
|
Due From Group |
26,868 |
23,693 |
- |
- |
|
Accruals & deferred income |
39,464 |
39,476 |
35,283 |
33,124 |
|
WORKING CAPITAL |
8,246 |
4,788 |
4,154 |
2,967 |
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TOTAL LONG TERM LIABS |
0 |
115 |
108 |
70 |
|
NET ASSETS/(LIABILITIES) |
16,484 |
14,851 |
15,014 |
14,234 |
|
SHARE CAPITAL + RESERVES |
16,484 |
14,736 |
14,906 |
14,164 |
|
Issued Share Capital |
0 |
0 |
0 |
0 |
|
Profit and Loss account |
16,484 |
14,736 |
14,906 |
14,164 |
|
SHAREHOLDERS FUNDS |
16,484 |
14,736 |
14,906 |
14,164 |
|
CAPITAL EMPLOYED |
16,484 |
14,851 |
15,014 |
14,234 |
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TANGIBLE NET WORTH |
16,484 |
14,736 |
14,906 |
14,164 |
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Key Credit Ratios |
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Accounts Date |
30/11/2005 |
30/11/2004 |
30/11/2003 |
30/11/2002 |
|
Current Ratio |
1.11 |
1.06 |
1.08 |
1.07 |
|
Profit Before Tax |
0.02 |
0.00 |
0.01 |
0.03 |
|
Creditors Days (D.P.O) |
42.99 |
48.37 |
58.92 |
27.51 |
|
Quick Ratio |
- |
- |
- |
- |
|
Return on Assets |
2.69 |
-0.05 |
2.03 |
5.90 |
|
T.N.W/Total Assets |
0.17 |
0.16 |
0.23 |
0.25 |
|
Return on Capital |
0.19 |
0.00 |
0.11 |
0.32 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Equity Gearing |
- |
1.28 |
1.38 |
2.02 |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
Financial Summary
|
Turnover |
Turnover increased by more than 9% in the period. Turnover totaled US
Dollar 107,426,000 for the period. |
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Operating Profit |
Totaled US Dollar 2,333,000 In the period prior a loss of US
Dollar 134,000 was achieved. |
|
Pre Tax |
The subject made a profit of US Dollar 2,443,000 compared with a
loss of US Dollar 44,000 in the previous period. |
|
Working Capital |
The company's working capital improved in the period by 72% |
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Tangible Net Worth |
Net worth increased by 1,748,000 during the period and now stands at
US Dollar 16,484,000 |
|
Fixed Assets |
The subjects fixed assets reduced during the period by US Dollar
1,296,000 to US Dollar 4,857,000 and are now 5% of total assets
compared with 7% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities reduced during the period by 0%
and are now 239% of net worth compared with 269% in the previous period |
|
Long Term Liabilities |
Long term liabilities are now 42% of total assets compared with 44% in
the previous period |
RATING EXPLANATIONS
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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 |
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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%)