MIRA
INFORM REPORT
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Report Date : |
15.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
GRANGEWOOD PLASTIC PACKAGING LIMITED |
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Registered Office : |
Essex House, Jutsums Lane, Romford, Essex, RM7 0ER |
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Country : |
United Kingdom |
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Financials (as on) : |
30.06.2005 |
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Date of Incorporation : |
08/05/1946 |
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Com. Reg. No.: |
00410048 |
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Legal Form : |
Private Limited with share capital |
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Line of Business : |
Manufacturer of Other Plastic Products. |
RATING &
COMMENTS
|
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 |
GRANGEWOOD PLASTIC PACKAGING LIMITED |
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Trading Address |
Essex House, Jutsums Lane, Romford, Essex, RM7 0ER |
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Risk Score |
Average Risk - This company has an average risk status and should be
treated with a degree of caution |
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Credit Limit |
GBP 46,000 |
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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 620,400 |
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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
|
Legal Form |
Private Limited with share capital |
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Registration Number |
00410048 |
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Date of Incorporation |
08/05/1946 |
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Registered Office |
ESSEX HOUSE, JUTSUMS LANE, ROMFORD, ESSEX, RM7 0ER. |
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Date of Last Annual Return to Registry |
22/11/2006 |
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Activities |
MFR OF OTHER PLASTIC PRODUCTS - - |
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Accounts |
The last filed accounts cover the period to 30/06/2005 and were
presented to Companies House on 01/12/2005 |
Recently Filed
Documents
Details of the most recent documents
|
Date Received |
Description |
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24/10/2002 |
Notification Of A Change Among The Directors Of A Company |
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19/03/1999 |
Notification Of A Change Among The Directors Of A Company |
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19/09/1995 |
Notification Of A Change Among The Directors Of A Company |
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04/03/1995 |
Notification Of A Change Among The Directors Of A Company |
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24/11/1994 |
Notification Of A Change Among The Directors Of A Company |
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12/04/1990 |
Notification Of A Change Among The Directors Of A Company |
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10/10/1989 |
Documents Making Or Evidencing An Alteration In The Memorandum Or
Articles Of Association |
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18/03/1987 |
Notification Of A Change Among The Directors Of A Company |
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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 |
MANAGING DIRECTOR |
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Address |
38, WESTBURY LANE , BUCKHURST HILL , ESSEX
, IG9 5PL |
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Country of Origin |
BRITISH |
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Date of Birth |
17/09/1959 |
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Appointment Date |
22/11/1991 |
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DIRECTOR |
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Occupation |
SACK WHOLESALER |
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Address |
1, FOREST DRIVE FYFIELD , ONGAR , ESSEX
, CM5 0TP |
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Country of Origin |
BRITISH |
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Date of Birth |
21/05/1962 |
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Appointment Date |
22/11/1991 |
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SECRETARY |
JOHN WILLIAM REED |
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Address |
38 , WESTBURY LANE , BUCKHURST HILL , ESSEX
, IG9 5PL |
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Country of Origin |
BRITISH |
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Date of Birth |
17/09/1959 |
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Appointment Date |
22/11/1991 |
Recently Resigned
Directors (last 3)
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DIRECTOR |
MR WILLIAM C REED |
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Occupation |
SACK WHOLESALER |
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Address |
17 , FRANCES GREEN , CHELMSFORD , - - |
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Date of Birth |
21/11/1943 |
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Resignation Date |
31/03/2002 |
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DIRECTOR |
MARGARET J JEWISS |
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Address |
103 , WANSTEAD PARK AVENUE , LONDON E12 , - - |
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Date of Birth |
28/02/1939 |
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Resignation Date |
28/02/1999 |
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DIRECTOR |
MS MARGARET R JEWISS |
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Address |
103 , WANSTEAD PARK AVENUE , LONDON E12 , - - |
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Date of Birth |
28/02/1939 |
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Resignation Date |
22/11/1998 |
Share Summary
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Share Currency: |
GBP |
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Issued at date of report: |
60,000 ORD |
Shares of 100 pence each |
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Prinicipal Shareholders: |
Type Of Share |
No. of Shares |
Value |
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MR RONALD W REED |
ORD |
12,879 |
12,879.00 |
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MR PAUL BARTHOLOMEW |
ORD |
6,199 |
6,199.00 |
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MR J W REED |
ORD |
5,801 |
5,801.00 |
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MRS MARGARET R JEWISS |
ORD |
5,686 |
5,686.00 |
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RUPERT REED |
ORD |
5,283 |
5,283.00 |
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PHILIPPA J REED |
ORD |
5,282 |
5,282.00 |
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MRS DORIS WELTON |
ORD |
5,211 |
5,211.00 |
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MRS M F BARTHOLMEW |
ORD |
5,000 |
5,000.00 |
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MRS MELISSA L BUTLER |
ORD |
4,270 |
4,270.00 |
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MRS NICOLA E BUTLER |
ORD |
4,270 |
4,270.00 |
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MR ROBERT J BARTHOLKOMEW |
ORD |
119 |
119.00 |
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Mortgages and Charges
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Total Registered |
5 |
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Total Outstanding |
4 |
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Total Satisfied |
1 |
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Most Recent Mortgage |
21/06/1996 |
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Date Registered |
26/06/1996 |
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Type |
395 |
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Date Created |
21/06/1996 |
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Lender |
BARCLAYS 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 |
ESSEX HOUSE JUTSUMS LANE ROMFORD L/B OF HAVERING T/NO.EX63894 |
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Satisfied? |
No |
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Date Registered |
01/12/1995 |
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Type |
395 |
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Date Created |
27/11/1995 |
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Lender |
BARCLAYS 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 |
BY WAY OF FIRST FIXED CHARGE ALL THE GOODWILL AND UNCALLED CAPITAL FOR
THE TIME BEING OF THE COMPANY; ALL BOOK DEBTS AND OTHER DEBTS NOW AND FROM
TIME TO TIME DUE OR OWING TO THE COMPANY, BY WAY OF FIRST FLOATING CHARGE ALL
OTHER THE UNDERTAKING AND ASSETS OF THE COMPANY WHATSOEVER AND WHERESOEVER
BOTH PRESENT AND FUTURE EXCLUDING ALL F/H AND L/H PROPERTY SEE CHARGE
PARTICULARS FORM FOR DETAILS |
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Satisfied? |
Fully |
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Date Registered |
01/12/1995 |
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Type |
403A |
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Date Created |
27/11/1995 |
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Lender |
BARCLAYS 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 |
BY WAY OF FIRST FIXED CHARGE ALL THE GOODWILL AND UNCALLED CAPITAL FOR
THE TIME BEING OF THE COMPANY; ALL BOOK DEBTS AND OTHER DEBTS NOW AND FROM
TIME TO TIME DUE OR OWING TO THE COMPANY, BY WAY OF FIRST FLOATING CHARGE ALL
OTHER THE UNDERTAKING AND ASSETS OF THE COMPANY WHATSOEVER AND WHERESOEVER
BOTH PRESENT AND FUTURE EXCLUDING ALL F/H AND L/H PROPERTY SEE CHARGE
PARTICULARS FORM FOR DETAILS |
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Satisfied? |
Fully |
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Date Registered |
19/07/1974 |
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Type |
9999 |
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Date Created |
05/07/1974 |
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Lender |
BARCLAYS BANK LTD |
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Secured On |
A DEED WHICH EXTENDS THE PROVISION OF A CHARGE DATED 2/2/55 SECURING ALL
MONIES NOW DUE OR FROM TIME TO TIME ACCRUING TO COVER ACTUAL OR CONTINGENT
LIABILITIES OF THE COMPANY TO THE CHARGEE |
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Details |
237 AND 239 KATHERINE ROAD, EAST HAM, LONDON TITLE NO 40185 |
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Satisfied? |
No |
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Date Registered |
17/07/1974 |
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Type |
9999 |
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Date Created |
08/07/1974 |
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Lender |
BARCLAYS BANK LTD |
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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 |
LAND AND BUILDINGS ON THE WESTSIDE OF JATSUMS LANE ROMFORD ESSEX |
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Satisfied? |
No |
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Date Registered |
21/02/1955 |
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Type |
9999 |
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Date Created |
02/02/1955 |
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Lender |
BARCLAYS BANK LTD |
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Secured On |
ALL MONEYS DUE ETC |
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Details |
237 AND 239 KATHERINE ROAD EAST HAM ESSEX |
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Satisfied? |
No |
Public Record
Information
Summary of CCJ's/Scottish Decrees
|
There are no unsatisfied CCJs against the company. |
Operations
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Activities |
MFR OF OTHER PLASTIC PRODUCTS - - |
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Sic Code |
Description |
|
2524 |
Manufacture of other plastic products |
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Auditors |
LAKE BUSHELLS |
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Auditors Notes |
No Qualification. The Auditors have expressed a clean opinion (i.e.
unqualified with no referrals) on the accounts for the period ended
30/06/2005. |
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Bankers |
BARCLAYS BANK PLC |
Financial Data
|
Profit and Loss |
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The following figures are shown in units of GBP '000 |
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
30/06/2005 |
30/06/2004 |
30/06/2003 |
30/06/2002 |
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Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
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Consolidated? |
No |
No |
No |
No |
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SALES |
- |
3,181 |
3,208 |
3,208 |
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Cost of goods sold |
- |
2,138 |
2,136 |
2,203 |
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GROSS PROFIT |
- |
1,043 |
1,072 |
1,005 |
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Other Expenses |
- |
1,085 |
1,058 |
1,212 |
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Wages and Salaries |
- |
- |
503 |
658 |
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Directors Emoluments |
- |
253 |
281 |
479 |
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Auditors Fees |
- |
7 |
7 |
7 |
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Depreciation |
44 |
35 |
33 |
34 |
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Operating Profit |
- |
-43 |
- |
- |
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Non Trading Income |
- |
1 |
9 |
4 |
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Interest Payable |
- |
17 |
16 |
22 |
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PRE TAX PROFIT |
- |
-58 |
8 |
-226 |
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Taxation |
- |
1 |
0 |
1 |
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PROFIT AFTER TAX |
0 |
-59 |
7 |
-227 |
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Dividends Payable |
- |
36 |
30 |
0 |
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RETAINED PROFITS |
- |
-95 |
-23 |
-227 |
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Balance Sheet |
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The following figures are shown in units of GBP '000 |
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Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
30/06/2005 |
30/06/2004 |
30/06/2003 |
30/06/2002 |
|
Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
|
Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
1,031 |
1,032 |
1,007 |
387 |
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Tangible Assets |
1,031 |
1,032 |
1,007 |
387 |
|
Fixed Assets |
1,025 |
1,027 |
1,003 |
381 |
|
Intermediate Assets |
5 |
5 |
4 |
6 |
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TOTAL CURRENT ASSETS |
1,201 |
1,077 |
1,123 |
1,061 |
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Total Debtors |
625 |
624 |
574 |
523 |
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Trade Debtors |
- |
616 |
558 |
512 |
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Other Debtors |
- |
7 |
16 |
11 |
|
Stocks/WIP |
575 |
453 |
548 |
537 |
|
Stocks |
- |
453 |
548 |
537 |
|
Cash |
1 |
1 |
1 |
1 |
|
TOTAL ASSETS |
2,231 |
2,110 |
2,130 |
1,448 |
|
TOTAL CURRENT LIABILITIES |
799 |
597 |
526 |
448 |
|
Trade creditors |
- |
346 |
261 |
229 |
|
Bank Overdraft |
180 |
155 |
169 |
54 |
|
Other Current Liabilities |
620 |
16 |
4 |
31 |
|
Misc Current Liabilities |
0 |
79 |
92 |
134 |
|
WORKING CAPITAL |
401 |
480 |
597 |
613 |
|
TOTAL LONG TERM LIABS |
36 |
27 |
24 |
18 |
|
Other Liabilities |
36 |
0 |
0 |
0 |
|
Total Hire Purchase / Leasing |
- |
27 |
24 |
18 |
|
NET ASSETS/(LIABILITIES) |
1,396 |
1,485 |
1,581 |
982 |
|
SHARE CAPITAL + RESERVES |
1,396 |
1,485 |
1,581 |
982 |
|
Issued Share Capital |
60 |
60 |
60 |
60 |
|
Revaluation Reserves |
622 |
622 |
622 |
0 |
|
Profit and Loss account |
673 |
763 |
858 |
881 |
|
Sundry Reserves |
41 |
41 |
41 |
41 |
|
SHAREHOLDERS FUNDS |
1,396 |
1,485 |
1,581 |
982 |
|
CAPITAL EMPLOYED |
1,432 |
1,512 |
1,604 |
1,000 |
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Key Credit Ratios |
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Accounts Date |
30/06/2005 |
30/06/2004 |
30/06/2003 |
30/06/2002 |
|
Current Ratio |
1.50 |
1.80 |
2.14 |
2.37 |
|
Long Term Debt/T.N.W (%) |
2.57 |
1.82 |
1.50 |
1.85 |
|
Profit Before Tax |
- |
-1.82 |
0.24 |
-7.06 |
|
Debtors Days (D.S.O) |
- |
70.71 |
63.51 |
58.28 |
|
Creditors Days (D.P.O) |
- |
59.12 |
44.58 |
37.96 |
|
Quick Ratio |
0.78 |
1.05 |
1.09 |
1.17 |
|
Return on Assets |
- |
-2.75 |
0.36 |
-15.63 |
|
T.N.W/Total Assets |
62.56 |
70.41 |
74.20 |
67.79 |
|
Return on Capital |
- |
-3.84 |
0.47 |
-22.64 |
|
Rtn on Shareholders Funds |
- |
-3.91 |
0.48 |
-23.06 |
|
Working Capital/Sales |
- |
15.09 |
18.61 |
19.10 |
|
Borrowing Ratio |
12.88 |
13.97 |
13.20 |
9.48 |
|
Equity Gearing |
62.56 |
70.41 |
74.20 |
67.79 |
|
Stock Turnover |
- |
7.03 |
5.86 |
5.97 |
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|
Financial Comparison |
|
The following figures are shown in units of GBP '000 |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
30/06/2005 |
30/06/2004 |
30/06/2003 |
30/06/2002 |
|
Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
|
Net Cashflow from Oper. |
- |
- |
-45 |
299 |
|
Increase in Cash |
- |
- |
-114 |
282 |
|
Directors Remuneration |
- |
253 |
281 |
479 |
|
Auditors Remuneration |
- |
7 |
7 |
7 |
|
Other Deferred Liabs |
36 |
0 |
0 |
0 |
|
Tangible Net Worth(T.N.W) |
1,396 |
1,485 |
1,581 |
982 |
|
Equity |
1,396 |
1,485 |
1,581 |
982 |
|
Number of Employees |
- |
- |
20 |
19 |
Key Industry Sector
Trends
|
|
Company |
Industry
Averages |
||
|
|
30/06/2005 |
Lower |
Median |
Upper |
|
Current Ratio |
1.50 |
0.8 |
1.2 |
1.9 |
|
Borrowing Ratio |
12.88 |
0 |
8.7 |
170.3 |
|
This comparison is based on the results of 0003010 companies in the
same industrial sector: plastics products nes |
Financial Summary
|
Working Capital |
The company's working capital decreased in the period by 16% |
|
Tangible Net Worth |
Net worth reduced by 89,515 during the period and now stands at
GBP 1,395,851 |
|
Fixed Assets |
The subjects fixed assets reduced during the period by GBP 1,800
to GBP 1,030,647 and are now 46% of total assets compared with 49% in
the previous period |
|
Long Term Liabilities |
The company's long term liabilities increased during the period by 32%
and are now 3% of net worth compared with 2% in the previous period |
|
Long Term Liabilities |
Long term liabilities are now 2% of total assets compared with 1% in
the previous period |
|
Long Term Liabilities |
Long term liabilities are 3% of capital employed an increase of 1%
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%)