MIRA
INFORM REPORT
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Report Date : |
15.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
KOVERPLAST LIMITED |
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Registered Office : |
Mopani House, Brookhouse Lane, Blackburn, Lancashire, BB1 6DZ |
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Country : |
United Kingdom |
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Financials (as on) : |
28.02.2006 |
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Date of Incorporation : |
25/08/1988 |
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Com. Reg. No.: |
02289851 |
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Legal Form : |
Private Limited with share capital |
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Line of Business : |
Manufacture of Other Plastic Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
Company
Identification Details
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Subject Reported on |
KOVERPLAST LIMITED |
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Trading Address |
Brookhouse Lane, Blackburn, Lancashire, BB1 6DZ |
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Telephone |
01254 691354 |
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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 7,800 |
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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 160,600 |
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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
|
Legal Form |
Private Limited with share capital |
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Registration Number |
02289851 |
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Date of Incorporation |
25/08/1988 |
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Registered Office |
MOPANI HOUSE, BROOKHOUSE LANE, BLACKBURN, LANCASHIRE, BB1 6DZ . |
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History |
25/04/1990 : Change of name from RAREDIRECT LIMITED |
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Date of Last Annual Return to Registry |
25/08/2005 |
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Activities |
MANUFACTURE OF OTHER PLASTIC PRODUCTS. |
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Accounts |
The last filed accounts cover the period to 28/02/2006 and were
presented to Companies House on 28/12/2006 |
Recently Filed
Documents
Details of the most recent documents
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Date Received |
Description |
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21/10/1994 |
Notification Of A Change Among The Directors Of A Company |
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30/01/1992 |
Documents Making Or Evidencing An Alteration In The Memorandum Or
Articles Of Association |
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19/04/1990 |
Notification Of A Change Among The Directors Of A Company |
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01/03/1989 |
Notification Of A Change Among The Directors Of A Company |
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20/02/1989 |
Documents Making Or Evidencing An Alteration In The Memorandum Or
Articles Of Association |
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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 |
COMPANY DIRECTOR |
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Address |
5, THE DENE , BLACKBURN , BB2 7QS |
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Country of Origin |
ZAMBIAN |
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Date of Birth |
17/06/1961 |
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Appointment Date |
25/08/1992 |
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Other Appointments |
ABF ENTERPRISE4ALL LTD, BUSINESS SERVICES (EAST LANCASHIRE)
LIMITED, EXEMPLA BUSINESS SERVICES LIMITED |
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
5, THE WARREN BEARDWOOD , BLACKBURN , BB2 7BF |
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Country of Origin |
BRITISH |
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Date of Birth |
03/02/1964 |
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Appointment Date |
25/08/1992 |
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
111, LANGHAM ROAD , BLACKBURN , BB1 8DP |
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Country of Origin |
INDIAN |
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Date of Birth |
22/06/1951 |
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Appointment Date |
01/09/1994 |
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SECRETARY |
NAZIMA PATEL |
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Address |
BROADLANDS 5 , THE WARREN BEARDWOOD , BLACKBURN
, BB2 7BF |
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Country of Origin |
BRITISH |
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Date of Birth |
03/02/1964 |
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Appointment Date |
25/08/1992 |
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SECRETARY |
GULAM MOHAMED VALLI PATEL |
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Address |
111 , LANGHAM ROAD , BLACKBURN , BB1 8DP |
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Country of Origin |
INDIAN |
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Date of Birth |
22/06/1951 |
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Appointment Date |
01/09/1994 |
Recently Resigned
Directors (last 3)
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None |
Share Summary
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Share Currency: |
GBP |
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Issued at date of report: |
50,000 ORD |
Shares of 100 pence each |
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Prinicipal Shareholders: |
Type Of Share |
No. of Shares |
Value |
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MR HABIBUREHAM PATEL |
ORD |
19,332 |
19,332.00 |
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MR GULAM M PATEL |
ORD |
11,000 |
11,000.00 |
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NAZIMA PATEL |
ORD |
8,001 |
8,001.00 |
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MRS RUKSANA PATEL |
ORD |
7,666 |
7,666.00 |
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RUKSANA UMERJI |
ORD |
1,334 |
1,334.00 |
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JANAIB PATEL |
ORD |
1,333 |
1,333.00 |
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FIROZ PATEL |
ORD |
1,333 |
1,333.00 |
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SHAMIN PATEL |
ORD |
1 |
1.00 |
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Mortgages and Charges
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Total Registered |
5 |
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Total Outstanding |
5 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
19/11/2002 |
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Date Registered |
21/11/2002 |
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Type |
395 |
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Date Created |
19/11/2002 |
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Lender |
LLOYDS TSB COMMERCIAL FINANCE LIMITED |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE 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 |
10/10/2001 |
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Type |
395 |
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Date Created |
02/10/2001 |
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Lender |
LLOYDS TSB COMMERCIAL FINANCE LIMITED TRADING AS ALEX LAWRIE FACTORS |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY
ACCOUNT WHATSOEVER AND UNDER THE FINANCING AGREEMEENT |
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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 |
08/04/2000 |
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Type |
395 |
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Date Created |
07/04/2000 |
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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 |
THE LAND AND BUILDINGS ON THE NORTH EAST SIDE OF BROOKHOUSE LANE WITH
THE BENEFIT OF ALL RIGHTS LICENCES GUARANTEES RENT DEPOSITS CONTRACTS DEEDS
UNDERTAKINGS AND WARRANTIES RELATING TO THE PROPERTY ANY SHARES OR MEMBERSHIP
RIGHTS IN ANY MANAGEMENT COMPANY FOR THE PROPERTY ANY GOODWILL OF ANY
BUSINESS FROM TIME TO TIME CARRIED ON AT THE PROPERTY ANY RENTAL AND OTHER
MONEY PAYABLE UNDER ANY LEASE LICENCE OR OTHER INTEREST CREATED IN RESPECT OF
THE PROPERTY AND ALL OTHER PAYMENTS WHATEVER IN RESPECT OF THE PROPERTY |
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Satisfied? |
No |
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Date Registered |
04/04/2000 |
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Type |
395 |
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Date Created |
03/04/2000 |
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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 SEE CHARGE PARTICULARS FORM FOR
DETAILS . |
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Satisfied? |
No |
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Date Registered |
04/04/2000 |
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Type |
395 |
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Date Created |
03/04/2000 |
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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 |
FILM EXTRUSION LINE INCLUDING: 65mm EXTRUDER WITH ANTON PILLAR, SERIAL
NO 1073663. TYPE KL831-4 44/10Kw ELECTRIC MOTOR 2200/500 rpm WITH 3 FANS
& SCREEN CHANGER 250mm ROTATING ANNULAR DIE ANNULAR COOLING RING WITH
ALCOSA, SERIAL NUMBER 21269. SEE CHARGE PARTICULARS FORM FOR DETAILS |
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Satisfied? |
No |
Public Record
Information
Summary of CCJ's/Scottish Decrees
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There are 1 exact unsatisfied CCJs totalling GBP 273 in the last 72
months |
Details of most recent CCJ's/Scottish Decrees
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12/2006, a Judgment of GBP 273 was made in BRADFORD court (Case No.
6BD08132 ) against KOVERPLAST LTD of MOPANI HOUSE,BROOKHOUSE
LANE,BLACKBURN,LANCASHIRE,BB1 6DZ |
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01/2006, a Judgment of GBP 20562 was made in BOLTON court (Case No.
5BL04603 ) against KOVERPLAST LTD of MOPANI HOUSE,BROOKHOUSE
LANE,BLACKBURN,BB1 6DZ Satisfied 02/2006 |
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12/2005, a Judgment of GBP 82 was made in BLACKBURN court (Case No. 5BB02665
) against KOVERPLAST LIMITED of MOPANI HOUSE,BROOKHOUSE LANE,BLACKBURN,BB1
6DU Satisfied 01/2006 |
Operations
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Activities |
MANUFACTURE OF OTHER PLASTIC PRODUCTS. - - |
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Sic Code |
Description |
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2524 |
Manufacture of other plastic products |
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Bankers |
- |
Financial Data
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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 |
28/02/2006 |
28/02/2005 |
29/02/2004 |
28/02/2003 |
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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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Depreciation |
34 |
- |
- |
- |
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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 |
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Accounts Date |
28/02/2006 |
28/02/2005 |
29/02/2004 |
28/02/2003 |
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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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TOTAL FIXED ASSETS |
422 |
344 |
380 |
349 |
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Tangible Assets |
422 |
344 |
380 |
349 |
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Fixed Assets |
422 |
344 |
380 |
349 |
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TOTAL CURRENT ASSETS |
1,255 |
1,232 |
886 |
832 |
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Total Debtors |
1,031 |
1,081 |
806 |
747 |
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Group Loans |
10 |
- |
120 |
- |
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Director Loans |
- |
- |
- |
93 |
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Other Debtors |
1,022 |
- |
686 |
653 |
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Stocks/WIP |
224 |
150 |
75 |
85 |
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Cash |
0 |
1 |
5 |
1 |
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TOTAL ASSETS |
1,677 |
1,575 |
1,266 |
1,181 |
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TOTAL CURRENT LIABILITIES |
1,283 |
1,219 |
810 |
795 |
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Bank Overdraft |
- |
- |
48 |
148 |
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Other Current Liabilities |
1,283 |
1,219 |
727 |
646 |
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Misc Current Liabilities |
0 |
0 |
35 |
0 |
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WORKING CAPITAL |
-28 |
13 |
77 |
37 |
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TOTAL LONG TERM LIABS |
33 |
73 |
110 |
99 |
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Other Liabilities |
12 |
52 |
32 |
77 |
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Total Hire Purchase / Leasing |
- |
- |
58 |
- |
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Total Provisions |
20 |
21 |
21 |
22 |
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NET ASSETS/(LIABILITIES) |
361 |
284 |
347 |
288 |
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SHARE CAPITAL + RESERVES |
361 |
284 |
347 |
288 |
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Issued Share Capital |
50 |
50 |
50 |
50 |
|
Revaluation Reserves |
90 |
0 |
0 |
0 |
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Profit and Loss account |
221 |
234 |
297 |
238 |
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SHAREHOLDERS FUNDS |
361 |
284 |
347 |
288 |
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CAPITAL EMPLOYED |
394 |
357 |
457 |
387 |
Key Credit Ratios
|
Accounts Date |
28/02/2006 |
28/02/2005 |
29/02/2004 |
28/02/2003 |
|
Current Ratio |
0.98 |
1.01 |
1.09 |
1.05 |
|
Long Term Debt/T.N.W (%) |
3.43 |
18.41 |
25.79 |
26.73 |
|
Quick Ratio |
0.80 |
0.89 |
1.00 |
0.94 |
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T.N.W/Total Assets |
21.55 |
18.01 |
27.37 |
24.37 |
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Borrowing Ratio |
- |
- |
40.58 |
51.49 |
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Equity Gearing |
21.55 |
18.01 |
27.37 |
24.37 |
Financial Comparison
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The following figures are shown in units of GBP '000 |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
28/02/2006 |
28/02/2005 |
29/02/2004 |
28/02/2003 |
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Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
|
Other Deferred Liabs |
12 |
52 |
32 |
77 |
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Tangible Net Worth(T.N.W) |
361 |
284 |
347 |
288 |
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Equity |
361 |
284 |
347 |
288 |
Key Industry Sector
Trends
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Company |
Industry
Averages |
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|
28/02/2005 |
Lower |
Median |
Upper |
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Current Ratio |
0.98 |
0.8 |
1.2 |
1.9 |
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This comparison is based on the results of 0003001 companies in the
same industrial sector: plastics products nes |
Financial Summary
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Working Capital |
The company's working capital deficiency increased in the period and
now stands at GBP 27,678 |
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Tangible Net Worth |
Net worth increased by 77,661 during the period and now stands at
GBP 361,364 |
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Fixed Assets |
The subjects fixed assets increased during the period by
GBP 77,813 to GBP 421,668 and are now 25% of total assets compared
with 22% in the previous period |
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Long Term Liabilities |
The company's long term liabilities reduced during the period by 55%
and are now 9% of net worth compared with 26% in the previous period |
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Long Term Liabilities |
Long term liabilities are now 2% of total assets compared with 5% in
the previous period |
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Long Term Liabilities |
Long term liabilities are 8% of capital employed a decrease of 12%
over 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 |
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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 |
|
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 |
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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%)