MIRA
INFORM REPORT
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Report Date : |
14.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
LESTA
PACKAGING PLC |
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Registered Office : |
22
Regent Street, Nottingham, Nottinghamshire, Ng1 5bq |
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Country : |
United Kingdom |
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Financials (as on) : |
30/11/2004 |
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Date of Incorporation : |
23/10/1978 |
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Com. Reg. No.: |
01395330 |
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Legal Form : |
Public
Limited Company |
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Line of Business : |
Wholesalers and distributors of packaging materials and allied
products |
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 : |
Regular |
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Litigation : |
Clear |
Company Identification Details
Subject Reported on LESTA PACKAGING PLC
Address 22 REGENT STREET, NOTTINGHAM,
NOTTINGHAMSHIRE, NG1 5BQ.
Telephone 0115 911 2400
Email enquiries@lestapackaging.co.uk
Web Address www.lestapackaging.co.uk
Creditline Recommendations
Rating GBP 1m-5m financial strength
rating based on net worth plus net current assets/liabilities
Monthly Credit Guide GBP 78,000
Risk Category LOW NORMAL RISK
Official Company Data
Legal Form Public Limited Company
Registration Number 01395330
VAT Number GB339400271
Date of Incorporation 23/10/1978
Registered Office 21 NEDHAM STREET, LEICESTER,
LEICESTERSHIRE, LE2 0HD.
History 1/03/2006 : The Registered Office address
changed from 378,EAST PARK ROAD,, LEICESTER., LE5 5AY.
9/04/2003 : Change of name from LESTA
PACKAGING LIMITED.
Previously located at 81-83 CHESTERFIELD
RD, LEICESTER, LE5 5LH.
Date of Last Annual Return
to Registry 12/05/2006
Accounts The last filed accounts at Companies
House are those to 30/11/2004
Accounting Reference
Date 30/11
Operations
Activities Wholesalers The wholesale and
distribution of packaging materials and
allied products.
Nace Code 5156
Premises Leased, Offices, Warehouse
Staff Employed 24
Import Countries ALL OVER THE WORLD
Export Countries ALL OVER THE WORLD
Bankers NATIONAL WESTMINSTER BANK PLC
Address LEICESTER.
Sort Code 601548
Auditors Ashok Desor & Co
Branches 22 REGENT ST, NOTTINGHAM,
NOTTINGHAMSHIRE, NG1 5BQ.
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 30/11/2004
Details of most recent Mortgages,
Charges and Satisfactions
Date Fully
Satisfied Date
Registered Date
Created Charge
Description Form Type Lender
03/12/2004 30/11/2004 Legal Charge 395 National
Westminster
Bank
Plc
13/03/1989 07/03/1989 Mortgage Debenture N/A
National
Westminster
Bank
Plc
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
10/06/2006 Companies
House Gazette Change among the
directors of a company
23/07/2005 Companies
House Gazette Change among the
directors of a company
30/06/2004 Companies
House Gazette Resolutions which give,
vary, revoke or renew an authority
for
the purposes of section 80
30/06/2004 Companies
House Gazette Returns of allotments
of a public company
30/06/2004 Companies
House Gazette Change among the
directors of a company
30/06/2004 Companies
House Gazette Alteration in
memorandum or articles of association
08/04/2003 Companies
House Gazette Alteration in
memorandum or articles of association
28/11/2002 Companies
House Gazette Resolutions which give,
vary, revoke or renew an authority
for
the purposes of section 80
28/11/2002 Companies House
Gazette Alteration in memorandum or
articles of association
29/07/1998 Companies
House Gazette Change among the
directors of a company
27/07/1995 Companies
House Gazette Change among the
directors of a company
07/07/1994 Companies
House Gazette Change among the
directors of a company
22/05/1993 Companies
House Gazette Change among the
directors of a company
24/06/1992 Companies
House Gazette Alteration in
memorandum or articles of association
19/12/1991 Companies
House Gazette Alteration in
memorandum or articles of association
21/07/1988 Companies
House Gazette Change among the
directors of a company
12/07/1988 Companies
House Gazette Documents delivered by
a company under section 241
(annual
accounts)
19/02/1988 Companies
House Gazette Change in the situation
of company's registered office
17/12/1986 Companies
House Gazette Change among the
directors of a company
Company Secretary
Secretary MRS KHAIROONISHA
FAROUK ALIMAHOMED
Address 65 THE BROADWAY, OADBY,
LEICESTER, LEICESTERSHIRE, LE2
2HG.
Country of Origin UNITED KINGDOM
Appointment Date 12/03/1991
Directors
Director ALAN FRANCIS MANGAN
Address 34 SOUTHWAY, FLEETWOOD,
LANCASHIRE, FY7 8NH.
Country of Origin UNITED KINGDOM
Date of Birth 27/11/1964
Appointment Date 01/07/2005
Director DEREK HORACE BARLOW
Address 43 ETON WAY, ORRELL, WIGAN,
LANCASHIRE, WN5 8PN.
Country of Origin UNITED KINGDOM
Date of Birth 18/03/1963
Appointment Date 05/06/2006
Director OSMAN FAROUK ALIMAHOMED
Address 65 THE BROADWAY, OADBY, LEICESTER,
LEICESTERSHIRE, LE2
2HG.
Country of Origin UNITED KINGDOM
Date of Birth 16/01/1985
Appointment Date 17/06/2004
Other Directorships NORTHWEST POLYMEX PACKAGING
LTD, BUILDMART LTD
Director SHAKEEL OSMAN ALIMAHOMED
Address 107 GARTREE ROAD, LEICESTER, LE2
2FF.
Country of Origin UNITED KINGDOM
Date of Birth 15/01/1970
Appointment Date 30/06/1994
Other Directorships NORTHWEST POLYMEX PACKAGING
LTD, BUILDMART LTD
Director MR SHIRAZ
OMAR ALIMAHOMED
Address 2 RINGERS CLOSE, OADBY,
LEICESTER, LEICESTERSHIRE, LE2
2HQ.
Country of Origin UNITED KINGDOM
Date of Birth 01/07/1968
Appointment Date 12/03/1991
Other Directorships NORTHWEST POLYMEX PACKAGING
LTD, BUILDMART
LTD, PRESTIGE PROPERTY
INVESTORS LTD
Director MR MAHOMED
FAROUK ALIMAHOMED
Address 65 THE BROADWAY, OADBY,
LEICESTER, LEICESTERSHIRE, LE2
2HG.
Country of Origin UNITED KINGDOM
Date of Birth 26/09/1949
Appointment Date 12/03/1991
Other Directorships NORTHWEST POLYMEX PACKAGING LTD
Share Capital
Shares Ordinary GBP 1.00
Issued Number 400,000
Principal Shareholder 200,001 Mahomed Farouk
Alimahomed
74,000 Shakeel Osman
Alimahomed
74,000 Shiraz Omar
Alimahomed
50,000 Osman Faruk
Alimahomed
1,999 Khairoonisha Farouk
Alimahomed
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
For
annual accounts images, view the
Profit and Loss
The
following figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 30/11/2004 30/11/2003 30/11/2002 30/11/2001
Currency GBP GBP GBP GBP
SALES 6129 4717 3235
UK sales 6080 4684 3219
Export 49 33 16
Cost of goods sold 4540 3514 2448
GROSS PROFIT 1589 1203 787
Wages and Salaries 401 279 239
Directors Emoluments 45 35 28
Auditors Fees 10 8 5
Trading Profit 428 270 119
Depreciation 70 38 43
OPERATING PROFIT 358 232 76
Interest Payable 51 32 37
PRE TAX PROFIT 307 200 39
Taxation 58 38 7
PROFIT AFTER TAX 249 162 32
RETAINED PROFITS 249 162 32
Balance Sheet
The
following figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 30/11/2004 30/11/2003 30/11/2002 30/11/2001
Currency GBP GBP GBP GBP
TOTAL FIXED ASSETS 2806 212 246 182
Tangible Assets 2806 212 246 182
Fixed Assets 2806 212 246
TOTAL CURRENT ASSETS 3471 2355 1468 1166
Trade debtors 1824 1334 945 752
Stocks 1071 966 480 414
Other Current Assets 576 55 43
Misc Current Assets 54 30 41
Cash 522 25 2
TOTAL ASSETS 6277 2567 1714 1348
TOTAL CURRENT LIABILITIES 3046 1748 1180 767
Trade creditors 641 571 340 494
Short Term Loans 2094 1070 694 189
Bank Overdraft 1870 1069 604 189
Bank Loans 213 84
Other Finance 11 1 6
Other Liabilities 311 107 146 84
WORKING CAPITAL 425 607 288 399
TOTAL LONG TERM LIABS 2183 20 47 109
Long Term Loans 2156 29
Bank loans 2137 28
Other Finance 19 1
Other Liabilities 27 20 18
NET ASSETS/(LIABILITIES) 1048 799 487 472
SHARE CAPITAL + RESERVES 1048 799 487 472
Share Cap + Sundry Res 400 400 250 250
Issued Share Capital 400 400 250
Profit and Loss account 648 399 237 222
SHAREHOLDERS FUNDS 1048 799 487 472
CAPITAL EMPLOYED 3231 819 534 581
Financial Comparison
The
following figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 30/11/2004 30/11/2003 30/11/2002 30/11/2001
Currency GBP GBP GBP GBP
Net Cashflow from Oper. 84 (435) (166)
Increase in Cash (305) (442) (414)
Directors Remuneration 45 35 28
Auditors Remuneration 10 8 5
Liquid Assets 2346 1359 947 752
Net Working Capital 425 607 288 399
Long Term Debt(>12 Months) 2156 29
Other Deferred Liabs 27 20 18 109
Tangible Net Worth(T.N.W) 1048 799 487 472
Equity 1048 799 487 472
Number of Years Trading 26 25 24 23
Number of Employees 24 20 16
Profit per Employee 12791.7 10000 2437.5
Sales per Employee 255375 235850 202187.5
Key Credit Ratios
The
following figures are shown as Ratios or Percentages
Accounts Date 30/11/2004 30/11/2003 30/11/2002 30/11/2001
Current Ratio 1.1 1.3 1.2 1.5
Long Term Debt/T.N.W 2.1 0.1
Pre Tax Profit Margin% 5 4.2 1.2
Gross Profit% 25.9 25.5 24.3
Debtors Days (D.S.O) 109 103 107
Creditors Days (D.P.O) 38 44 38
Quick Ratio 0.8 0.8 0.8 1
W.I.P/Inventory Days 86.1 100.3 71.6
Return on Investment% 6.7 12.3 6.2
Return on Assets% 4.9 7.8 2.3
T.N.W/Total Assets% 16.7 31.1 28.4 35
Return on Capital% 9.5 24.4 7.3
Rtn on Shareholders Funds% 29.3 25 8
Working Capital/Sales% 6.9 12.9 8.9
Borrowing Ratio% 405.5 133.9 148.5 40
Equity Gearing% 20 45.2 39.7 53.9
Stock Turnover 5.7 4.9 6.7
Days Purchases Outstanding 51.5 59.3 50.7
Key Industry Sector Trends
Year 2006 2005 2004 2003
Sample Size 203 4615 6682 6484
Pre-Tax Profit Margin 5.8 4.7 4.1 3.3
Current Ratio 1.7 1.5 1.4 1.4
Borrowing Ratio 76.7 94.4 98.5 107.3
Return on Capital 65 31.1 30.7 27.3
Creditors Days 40 49 63 61
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 30/11/2004.
Turnover
Turnover
increased by 30 % in the period and now totals GBP 6,129,000.
Operating
Profit
Totalled
GBP 358,000. In the year prior a Profit of GBP 232,000 was achieved.
Pre
Tax Profit
The
subject's profit increased by 53 % in the year.
Working
Capital
The
company's working capital, while remaining positive, decreased by 30 % in the
period.
Net
Worth
Net
worth has increased by 31 % and now stands at GBP 1,048,000.
Fixed
Assets
The
subject's fixed assets increased during the year by GBP 2,594,000 to GBP
2,806,000 and are now 44 % of total assets compared with 8 % in the previous
year.
Long
Term Liabilities
The
company's long term liabilities increased during the period by 10,815% and are
now 208 % of net worth compared with 3 % in the previous period.
Long
Term Liabilities
Long
term liabilities are now 35 % of total liabilities compared with 1 % in the
previous period.
Long
Term Liabilities
Long
term liabilities are 68 % of capital employed, an increase of 66 % 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%)