MIRA
INFORM REPORT
|
Report Date : |
10th March, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
MEADE-KING, ROBINSON & COMPANY LIMITED |
|
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|
Registered Office : |
Tower Building, 22 Water Street, Liverpool, L3 1BL. |
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Country : |
United Kingdom |
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|
|
Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
23.02.1917 |
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Com. Reg. No.: |
00146176 |
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|
Legal Form : |
Private Limited |
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Line of Business : |
The marketing of oils, fats, waxes, solvents and related
products. |
RATING
& COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
GBP 115,000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
Litigation : |
Clear |
Company Identification Details
|
Subject Reported on |
MEADE-KING,ROBINSON & COMPANY LIMITED |
|
Address |
501 TOWER BUILDING, 22 WATER STREET, LIVERPOOL,
MERSEYSIDE, L3 1BL. |
|
Telephone |
0151 236 3191 |
|
Facsimile |
0151 236 4431 |
|
Email |
info@mkr.co.uk |
|
Web Address |
www.mkr.co.uk |
Creditline Recommendations
|
Monthly Credit Guide |
GBP 115,000 |
|
Risk Category |
LOW RISK |
XSeption Summary
|
Number of XSeptions |
0 |
|
Note : An 'XSeption' is only recorded when unusual patterns
of behavior or financial results have been identified. |
Official Company Data
|
Legal Form |
Private Limited |
|
Registration Number |
00146176 |
|
Date of Incorporation |
23/02/1917 |
|
Registered Office |
TOWER BUILDING, 22 WATER STREET, LIVERPOOL, L3 1BL. |
|
History |
21/11/2006
: The Registered Office address changed from 501 TOWER BUILDINGS, 22 WATER
STREET, LIVERPO. |
|
Date of Last Annual Return to Registry |
21/11/2006 |
|
Registered Objectives |
TO CARRY ON BUSINESS AS OIL IMPORTERS |
|
Accounts |
The last filed accounts at Companies House are those to
31/03/2006 |
|
Accounting Reference Date |
31/03 |
Operations
|
Activities |
The marketing of oils, fats, waxes, solvents and related products. |
|
Nace Code |
5155 |
|
Premises |
Owned,Offices |
|
Staff Employed |
18 |
|
Import Countries |
No Import Activity |
|
Export Countries |
No Export Activity |
|
Bankers |
BARCLAYS BANK PLC |
|
Address |
LIVERPOOL. |
|
Sort Code |
205101 |
|
Auditors |
Grant Thornton UK LLP |
|
Subsidiaries |
LIVERPOOL
OIL STORES 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 |
2 |
|
Number Partially Satisfied |
0 |
|
Number Satisfied |
0 |
|
|
|
|
Date of Latest Mortgage Created |
06/08/1992 |
Details of most recent Mortgages,
Charges and Satisfactions
|
Date Fully |
Date |
Date |
Charge |
Form Type |
Lender |
|
|
12/08/1992 |
06/08/1992 |
Standard Security |
395 |
Barclays Bank Ltd |
|
|
23/03/1982 |
17/03/1982 |
Debenture |
N/A |
Barclays Bank Ltd |
|
It should be noted that there is no legal requirement to
file satisfaction details of mortgages/charges at Companies House. |
Other Filings and Notices
|
Date |
Source |
Description |
|
16/04/2002 |
Companies House Gazette |
Change among the directors of a company |
|
12/12/2001 |
Companies House Gazette |
Change among the directors of a company |
|
22/11/2000 |
Companies House Gazette |
Change among the directors of a company |
|
04/12/1999 |
Companies House Gazette |
Alteration in memorandum or articles of association |
|
01/12/1999 |
Companies House Gazette |
Change among the directors of a company |
|
20/07/1991 |
Companies House Gazette |
Change among the directors of a company |
|
17/10/1988 |
Companies House Gazette |
Documents delivered by a company under section 241 (annual
accounts) |
|
19/12/1987 |
Companies House Gazette |
Documents delivered by a company under section 241 (annual
accounts) |
|
16/04/1985 |
Companies House Gazette |
Change among the directors of a company |
Company Secretary
|
Secretary |
PHILIP TARLETON |
|
Address |
11 LINGDALE ROAD, WEST KIRBY, WIRRAL, CH48 5DG. |
|
Country of Origin |
UNITED KINGDOM |
|
Date of Birth |
17/09/1960 |
|
Appointment Date |
01/07/1994 |
|
Other Directorships |
LIVERPOOL OIL STORES LIMITED |
Directors
|
Director |
ANTHONY GRAEME DE BRACEY MARRS |
|
Address |
24 WESTWOOD ROAD, BIRKENHEAD, MERSEYSIDE, CH43 9RQ. |
|
Country
of Origin |
UNITED KINGDOM |
|
Date
of Birth |
28/12/1939 |
|
Appointment
Date |
04/12/1991 |
|
Other
Directorships |
LIVERPOOL OIL STORES LIMITED |
|
|
|
|
Address |
11 LINGDALE ROAD, WEST KIRBY, WIRRAL, CH48 5DG. |
|
Country
of Origin |
UNITED KINGDOM |
|
Date
of Birth |
17/09/1960 |
|
Appointment
Date |
23/11/1999 |
|
Other
Directorships |
LIVERPOOL OIL STORES LIMITED |
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|
|
|
Address |
ASHDOWN HOUSE, HARE STREET, BUNTINGFORD, HERTFORDSHIRE,
SG9 0DX. |
|
Country
of Origin |
UNITED KINGDOM |
|
Date
of Birth |
30/06/1941 |
|
Appointment
Date |
04/12/1991 |
|
Other
Directorships |
SME - ASHDOWN LIMITED |
|
|
|
|
Address |
RAVENSBOURNE, BURTON HALL ROAD, ROSSETT, CLWYD, LL12 0AR. |
|
Country
of Origin |
UNITED KINGDOM |
|
Date
of Birth |
25/11/1932 |
|
Appointment
Date |
04/12/1991 |
Share Capital
|
Shares |
Ordinary GBP 1.00 |
|
Issued Number |
25,000 |
|
Shares |
Preference GBP 1.00 |
|
Issued Number |
75,000 |
|
Principal Shareholder |
12,768 James Donald C. Smellie |
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|
11,294 Jennifer S. Wightwick |
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7,521 Anthony Graeme De Bracey Marrs |
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7,500 John Christmas |
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6,942 Anthony Graeme De Bracey Marrs |
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6,362 Jennifer S. Wightwick |
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5,880 Philip Tarleton |
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5,816 James Donald C. Smellie |
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5,500 I.R. Jones |
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|
4,549 Jane Huck |
|
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 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
SALES |
18597 |
8537 |
6775 |
6518 |
|
UK sales |
17018 |
7340 |
5477 |
5650 |
|
Export |
1579 |
1197 |
1298 |
868 |
|
Cost of goods sold |
16040 |
6823 |
5273 |
5087 |
|
GROSS PROFIT |
2557 |
1714 |
1502 |
1431 |
|
Wages and Salaries |
535 |
488 |
438 |
458 |
|
Directors Emoluments |
241 |
230 |
184 |
184 |
|
Auditors Fees |
13 |
11 |
10 |
10 |
|
Non-Audit Fees |
8 |
10 |
8 |
4 |
|
Trading Profit |
443 |
46 |
71 |
(26) |
|
Depreciation |
30 |
32 |
34 |
40 |
|
OPERATING PROFIT |
413 |
14 |
37 |
(66) |
|
Non Trading Income |
2 |
2 |
2 |
2 |
|
Interest Payable |
41 |
22 |
15 |
20 |
|
PRE TAX PROFIT |
374 |
(6) |
24 |
(84) |
|
Taxation |
74 |
(17) |
|
|
|
PROFIT AFTER TAX |
300 |
11 |
24 |
(84) |
|
Dividends Payable |
15 |
|
|
4 |
|
RETAINED PROFITS |
285 |
11 |
24 |
(88) |
Balance Sheet
The following figures are shown in units of 1000
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
TOTAL FIXED ASSETS |
141 |
118 |
102 |
130 |
|
Tangible Assets |
141 |
118 |
102 |
130 |
|
Fixed Assets |
137 |
114 |
98 |
126 |
|
Intermediate assets |
4 |
4 |
4 |
4 |
|
TOTAL CURRENT ASSETS |
4892 |
3004 |
2206 |
2256 |
|
Trade debtors |
3994 |
2110 |
1232 |
1467 |
|
Stocks |
790 |
828 |
861 |
685 |
|
Other Current Assets |
108 |
66 |
113 |
104 |
|
Misc Current Assets |
31 |
64 |
35 |
45 |
|
Cash |
77 |
2 |
78 |
59 |
|
TOTAL ASSETS |
5033 |
3122 |
2308 |
2386 |
|
TOTAL CURRENT LIABILITIES |
3804 |
2178 |
1374 |
1472 |
|
Trade creditors |
3026 |
1569 |
988 |
1000 |
|
Short Term Loans |
258 |
393 |
173 |
244 |
|
Bank Overdraft |
|
391 |
171 |
242 |
|
Other Finance |
256 |
|
|
|
|
Due To Group |
2 |
2 |
2 |
2 |
|
Other Liabilities |
520 |
216 |
213 |
228 |
|
WORKING CAPITAL |
1088 |
826 |
832 |
784 |
|
TOTAL LONG TERM LIABS |
75 |
75 |
|
|
|
Long Term Loans |
75 |
75 |
|
|
|
Other Finance |
75 |
75 |
|
|
|
NET ASSETS/(LIABILITIES) |
1154 |
869 |
934 |
914 |
|
SHARE CAPITAL + RESERVES |
1154 |
869 |
934 |
914 |
|
Share Cap + Sundry Res |
25 |
25 |
100 |
100 |
|
Issued Share Capital |
25 |
25 |
100 |
100 |
|
Profit and Loss account |
1129 |
844 |
834 |
814 |
|
SHAREHOLDERS FUNDS |
1154 |
869 |
934 |
914 |
|
CAPITAL EMPLOYED |
1229 |
944 |
934 |
914 |
Financial Comparison
The following figures are shown in units of 1000
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Net Cashflow from Oper. |
308 |
(225) |
113 |
195 |
|
Increase in Cash |
465 |
(295) |
90 |
151 |
|
Directors Remuneration |
241 |
230 |
184 |
184 |
|
Auditors Remuneration |
13 |
11 |
10 |
10 |
|
Liquid Assets |
4071 |
2112 |
1310 |
1526 |
|
Net Working Capital |
1088 |
826 |
832 |
784 |
|
Long Term Debt(>12 Months) |
75 |
75 |
|
|
|
Tangible Net Worth(T.N.W) |
1154 |
869 |
934 |
914 |
|
Equity |
1154 |
869 |
934 |
914 |
|
Number of Years Trading |
89 |
88 |
87 |
86 |
|
Number of Employees |
18 |
16 |
18 |
20 |
|
Profit per Employee |
20777.8 |
(375) |
1333.3 |
(4200) |
|
Sales per Employee |
1033166.7 |
533562.5 |
376388.9 |
325900 |
Key Credit Ratios
The following figures are shown as Ratios or Percentages
|
Accounts Date |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
|
Current Ratio |
1.3 |
1.4 |
1.6 |
1.5 |
|
Long Term Debt/T.N.W |
0.1 |
0.1 |
|
|
|
Pre Tax Profit Margin% |
2 |
(0.1) |
0.4 |
(1.3) |
|
Gross Profit% |
13.7 |
20.1 |
22.2 |
22 |
|
Debtors Days (D.S.O) |
78 |
90 |
66 |
82 |
|
Creditors Days (D.P.O) |
59 |
67 |
53 |
56 |
|
Quick Ratio |
1.1 |
1 |
1 |
1.1 |
|
W.I.P/Inventory Days |
18 |
44.3 |
59.6 |
49.1 |
|
Return on Investment% |
27.9 |
1.2 |
3.5 |
(5.5) |
|
Return on Assets% |
7.4 |
(0.2) |
1 |
(3.5) |
|
T.N.W/Total Assets% |
22.9 |
27.8 |
40.5 |
38.3 |
|
Return on Capital% |
30.4 |
(0.6) |
2.6 |
(9.2) |
|
Rtn on Shareholders Funds% |
32.4 |
(0.7) |
2.6 |
(9.2) |
|
Working Capital/Sales% |
5.9 |
9.7 |
12.3 |
12 |
|
Borrowing Ratio% |
28.9 |
53.9 |
18.5 |
26.7 |
|
Equity Gearing% |
29.7 |
38.6 |
68 |
62.1 |
|
Stock Turnover |
23.5 |
10.3 |
7.9 |
9.5 |
|
Days Purchases Outstanding |
68.9 |
83.9 |
68.4 |
71.8 |
Key Industry Sector Trends
|
Year |
2006 |
2005 |
2004 |
2003 |
|
Sample Size |
2354 |
6654 |
6722 |
6461 |
|
Pre-Tax Profit Margin |
5 |
4.2 |
4.1 |
3.3 |
|
Current Ratio |
1.5 |
1.5 |
1.4 |
1.4 |
|
Borrowing Ratio |
86.2 |
98.2 |
93.7 |
105 |
|
Return on Capital |
31.3 |
29.4 |
30.9 |
27.3 |
|
Creditors Days |
54 |
49 |
67 |
62 |
Above
figures relate to companies in 1992 Standard Industry Classification (Nace)
sector : Wholesale of non-agricultural intermediate products, waste and scrap
Financial Summary
Auditors Qualification
The Auditors have expressed a clean opinion (i.e. unqualified with no
referrals) on the accounts for the period ended 31/03/2006.
Turnover
Turnover increased by 118 % in the period and now totals GBP 18,597,000.
Operating Profit
Totalled GBP 413,000. In the year prior a Profit of GBP 14,000 was
achieved.
Pre Tax Profit
The subject made a profit of GBP 374,000 in the period compared with a
loss in the previous period of GBP 6,000.
Working Capital
The company's working capital has increased by 32 % in the period.
Net Worth
Net worth has increased by 33 % and now stands at GBP 1,154,000.
Fixed Assets
The subject's fixed assets increased during the year by GBP 23,000 to
GBP 141,000 and are now 2 % of total assets compared with 3 % in the previous
year.
Long Term Liabilities
Long term liabilities are now 1 % of total liabilities compared with 2 %
in the previous period.
Long Term Liabilities
Long term liabilities are 6 % of capital employed, a decrease of 2 %
over 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%)