MIRA
INFORM REPORT
|
Report Date : |
15.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
S. BLACK LIMITED |
|
|
|
|
Registered Office : |
Foxholes Business Park, John Tate Road, Hertford, Hertfordshire, SG13
7YH |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
30.06.2006 |
|
|
|
|
Date of Incorporation : |
20/06/1968 |
|
|
|
|
Com. Reg. No.: |
00934139 |
|
|
|
|
Legal Form : |
Private Limited with share capital |
|
|
|
|
Line of Business : |
Sale and Distribution of Speciality Ingredients for the Personal Care,
Food, Healthcare, Household and Aroma Chemicals Sectors. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Company
Identification Details
|
|
|
|
Subject Reported on |
S. BLACK LIMITED |
|
Trading Address |
John Tate Road, Foxholes Business Park, Hertford, Hertfordshire, SG13
7YH |
|
Telephone |
01992 825555 |
|
|
|
|
|
|
|
|
|
|
|
|
Risk Score |
Very Low Risk - There is every confidence this company will prove good
for the assigned Credit Limit |
|
|
|
|
|
|
Credit Limit |
GBP 2,256,800 |
|
|
|
Selling to this company? The Credit Limit is the recommended maximum
outstanding debtor exposure at any one time. |
|
|
|
|
|
|
Contract Limit |
GBP 16,107,800 |
|
|
|
Buying from this company? The Contract Limit is the recommended
aggregate annual value for supply contracts. |
|
Official Company Data
|
Legal Form |
Private Limited with share capital |
|
Registration Number |
00934139 |
|
Date of Incorporation |
20/06/1968 |
|
Registered Office |
FOXHOLES BUSINESS PARK, JOHN TATE ROAD, HERTFORD, HERTFORDSHIRE, SG13
7YH. |
|
History |
13/08/2000 : Change of name from S. BLACK (IMPORT & EXPORT)
LIMITED |
|
|
20/06/1996 : Change of name from S. BLACK IMPORT & EXPORT LIMITED |
|
Date of Last Annual Return to Registry |
21/11/2006 |
|
Activities |
SALE AND DISTRIBUTION OF SPECIALITY INGREDIENTS FOR THE PERSONAL CARE,
FOOD,HEALTHCARE, HOUSEHOL AND AROMA CHEMICALS SECTORS. - - |
|
Accounts |
The last filed accounts cover the period to 30/06/2006 and were
presented to Companies House on 30/10/2006 |
Recently Filed
Documents
Details of the most recent documents
|
Date Received |
Description |
|
15/04/2005 |
Documents Making Or Evidencing An Alteration In The Memorandum Or
Articles Of Association |
|
22/10/2002 |
Notification Of A Change Among The Directors Of A Company |
|
02/03/2002 |
Notification Of A Change Among The Directors Of A Company |
|
09/06/2000 |
Notification Of A Change Among The Directors Of A Company |
|
04/08/1998 |
Notification Of A Change Among The Directors Of A Company |
|
02/05/1998 |
Notification Of A Change Among The Directors Of A Company |
|
20/03/1998 |
Documents Making Or Evidencing An Alteration In The Memorandum Or
Articles Of Association |
|
22/08/1997 |
Notification Of A Change Among The Directors Of A Company |
|
03/01/1997 |
Notification Of A Change Among The Directors Of A Company |
|
22/06/1996 |
Documents Making Or Evidencing An Alteration In The Memorandum Or
Articles Of Association |
|
11/08/1995 |
Notification Of A Change Among The Directors Of A Company |
|
17/11/1990 |
Notification Of A Change Among The Directors Of A Company |
|
16/03/1990 |
Notification Of A Change Among The Directors Of A Company |
|
07/02/1990 |
Notification Of A Change Among The Directors Of A Company |
|
14/11/1984 |
Notification Of A Change Among The Directors Of A Company |
|
It should be noted that there is no legal requirement to file satisfaction
details of mortgages/charges at Companies House. |
Known Directors
|
|
|
|
|
DIRECTOR |
|
|
|
Occupation |
CHAIRMAN |
|
|
Address |
5, HAZEL MEAD ARKLEY , BARNET , HERTS
, EN5 3LP |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
15/02/1931 |
|
|
Appointment Date |
21/11/1991 |
|
|
Other Appointments |
SBS WORLDWIDE LIMITED, S BLACK (IMPORT & EXPORT) TRUSTEE
LIMITED |
|
|
DIRECTOR |
|
|
|
Occupation |
MANAGING DIRECTOR |
|
|
Address |
42, BLOOMFIELD ROAD , HARPENDEN , HERTS
, AL5 4DB |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
25/04/1959 |
|
|
Appointment Date |
21/11/1991 |
|
|
Other Appointments |
S BLACK (IMPORT & EXPORT) TRUSTEE LIMITED, S. BLACK (IMPORT
& EXPORT) LIMITED |
|
|
DIRECTOR |
|
|
|
Occupation |
TECHNICAL & MARKETING DIRECTOR |
|
|
Address |
LAWNS FARM BUNGALOW , BOREHAM ROAD LITTLE WALTHAM
, CHELMSFORD , CM3 3NF |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
27/11/1958 |
|
|
Appointment Date |
21/11/1991 |
|
|
DIRECTOR |
|
|
|
Occupation |
|
|
|
Address |
315, KNIGHTSFIELD , WELWYN GARDEN CITY , HERTS
, AL8 7NJ |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
30/04/1951 |
|
|
Appointment Date |
01/01/1997 |
|
|
Other Appointments |
S BLACK (IMPORT & EXPORT) TRUSTEE LIMITED, S. BLACK (IMPORT
& EXPORT) LIMITED |
|
|
DIRECTOR |
|
|
|
Occupation |
NON EXECUTIVE DIRECTOR |
|
|
Address |
THE OLD RECTORY , SCRUTON , NORTHALLERTON , NORTH
YORKSHIRE , DL7 0QZ |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
06/09/1937 |
|
|
Appointment Date |
04/08/1997 |
|
|
Other Appointments |
DALES-CARE, S BLACK (IMPORT & EXPORT) TRUSTEE
LIMITED, VICTIM SUPPORT & WITNESS SERVICE, TEESSIDE |
|
|
DIRECTOR |
|
|
|
Occupation |
DIRECTOR |
|
|
Address |
4, MILL CROFT , BISHOPS STORTFORD , HERTS
, CM23 2BP |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
19/04/1947 |
|
|
Appointment Date |
01/06/2000 |
|
|
Other Appointments |
JRT BUSINESS CONSULTANCY LIMITED |
|
|
DIRECTOR |
|
|
|
Occupation |
SALES DIRECTOR |
|
|
Address |
HOWARD HOUSE , CHESTER ROAD KELSALL , TARPORLEY
, CHESHIRE , CW6 0RT |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
09/06/1955 |
|
|
Appointment Date |
01/02/2002 |
|
|
SECRETARY |
MR JOHN BENJAMIN LOWTEN |
|
|
Address |
315 , KNIGHTSFIELD , WELWYN GARDEN CITY , HERTS
, AL8 7NJ |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
30/04/1951 |
|
|
Appointment Date |
01/01/1997 |
Recently Resigned
Directors (last 3)
|
|
|
|
DIRECTOR |
DAVID GEORGE SAUNTER |
|
Address |
OWLS HALL COTTAGE , BLACKMORE END , BRAINTREE , ESSEX
, - - |
|
Date of Birth |
17/07/1946 |
|
Resignation Date |
30/06/2002 |
|
DIRECTOR |
CHRISTOPHER DAVIES |
|
Address |
2 , TUDOR RISE , BROXBOURNE , HERTS , - - |
|
Date of Birth |
07/08/1956 |
|
Resignation Date |
14/07/1998 |
|
DIRECTOR |
ZELDA BLACK |
|
Address |
5 , HAZEL MEAD , BARNET , HERTS , - - |
|
Date of Birth |
05/11/1933 |
|
Resignation Date |
31/12/1996 |
Share Summary
|
Share Currency: |
GBP |
||||||||
|
Issued at date of report: |
86,516 ORD |
Shares of 100 pence each |
|
||||||
|
Share Currency: |
GBP |
||||||||
|
Issued at date of report: |
17,850 ORD A |
Shares of 100 pence each |
|
||||||
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|||||||||
|
Principal Shareholders: |
Type Of Share |
No. of Shares |
Value |
|
|
|
|
|
|
|
STANLEY BLACK |
ORD |
30,805 |
30,805.00 |
|
|
|
|
|
|
|
3I GROUP PLC |
ORD A |
17,850 |
17,850.00 |
|
|
|
|
|
|
|
A C BLACK |
ORD |
10,000 |
10,000.00 |
|
|
|
|
|
|
|
D R BLACK |
ORD |
10,000 |
10,000.00 |
|
|
|
|
|
|
|
S L BLACK |
ORD |
10,000 |
10,000.00 |
|
|
|
|
|
|
|
ZELDA BLACK |
ORD |
9,905 |
9,905.00 |
|
|
|
|
|
|
|
ANDREW G RAYBOULD |
ORD |
5,020 |
5,020.00 |
|
|
|
|
|
|
|
TRIDENT NIMINEES LIMITED |
ORD |
3,790 |
3,790.00 |
|
|
|
|
|
|
|
D G SAUNTER |
ORD |
3,720 |
3,720.00 |
|
|
|
|
|
|
|
S BLACK (IMPORT & EXPORT) TRUSTEE LTD |
ORD |
3,276 |
3,276.00 |
|
|
|
|
|
|
Mortgages and Charges
|
|
|
|
Total Registered |
3 |
|
Total Outstanding |
0 |
|
Total Satisfied |
3 |
|
Most Recent Mortgage |
30/10/1986 |
|
|
|
|
|
|
|
Date Created |
30/10/1986 |
|
Lender |
BARCLAYS BANK PLC |
|
Secured On |
ALL MONIES - PROPERTY |
|
Details |
THE COLONNADE CHESHUNT BROXBOURNE HERTS |
|
Satisfied? |
Fully |
|
|
|
|
Date Created |
29/07/1983 |
|
Satisfied? |
Fully |
|
|
|
|
Date Created |
01/02/1979 |
|
Satisfied? |
Fully |
Public Record
Information
Summary of CCJ's/Scottish Decrees
|
There are no unsatisfied CCJs against the company. |
Operations
|
|
|
|
Activities |
SALE AND DISTRIBUTION OF SPECIALITY INGREDIENTS FOR THE PERSONAL CARE,
FOOD,HEALTHCARE, HOUSEHOL AND AROMA CHEMICALS SECTORS. - - |
|
Sic Code |
Description |
|
5190 |
|
|
Staff Employed |
93 |
|
Auditors |
RSM ROBSON RHODES LLP |
|
Auditors Notes |
No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified
with no referrals) on the accounts for the period ended 30/06/2006. |
|
Bankers |
BARCLAYS BANK PLC |
|
Sort Codes |
200050 |
|
Subsidiaries |
03208464 S BLACK (IMPORT & EXPORT) TRUSTEE LIMITED |
|
|
03867707 S. BLACK (IMPORT & EXPORT) LIMITED |
Financial Data
|
Profit and Loss |
|
The following figures are shown in units of GBP '000 |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
30/06/2006 |
30/06/2005 |
30/06/2004 |
30/06/2003 |
|
Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
|
Consolidated? |
Yes |
Yes |
Yes |
Yes |
|
SALES |
36,309 |
31,647 |
31,285 |
30,116 |
|
Cost of goods sold |
27,962 |
24,149 |
23,577 |
22,660 |
|
GROSS PROFIT |
8,347 |
7,498 |
7,708 |
7,456 |
|
Other Expenses |
5,979 |
5,540 |
5,362 |
4,890 |
|
Wages and Salaries |
3,277 |
2,973 |
2,753 |
2,524 |
|
Directors Emoluments |
733 |
701 |
707 |
699 |
|
Auditors Fees |
26 |
32 |
31 |
30 |
|
Non-Audit Fees |
12 |
13 |
25 |
24 |
|
Depreciation |
398 |
407 |
462 |
439 |
|
Non Trading Income |
193 |
155 |
103 |
111 |
|
PRE TAX PROFIT |
2,561 |
2,113 |
2,449 |
2,677 |
|
Taxation |
862 |
701 |
744 |
848 |
|
PROFIT AFTER TAX |
1,699 |
1,412 |
1,705 |
1,829 |
|
Dividends Payable |
1,089 |
1,089 |
1,089 |
1,089 |
|
RETAINED PROFITS |
571 |
308 |
597 |
715 |
|
|
|
|
Balance Sheet |
|
|
The following figures are shown in units of GBP '000 |
|
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
30/06/2006 |
30/06/2005 |
30/06/2004 |
30/06/2003 |
|
Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
|
Consolidated? |
Yes |
Yes |
Yes |
Yes |
|
TOTAL FIXED ASSETS |
5,850 |
4,449 |
4,684 |
5,273 |
|
Tangible Assets |
5,547 |
4,193 |
4,318 |
4,797 |
|
Fixed Assets |
5,530 |
4,176 |
4,301 |
4,337 |
|
Intermediate Assets |
17 |
17 |
17 |
460 |
|
Intangible Assets |
303 |
256 |
366 |
476 |
|
TOTAL CURRENT ASSETS |
15,490 |
13,710 |
13,523 |
13,012 |
|
Total Debtors |
7,240 |
5,972 |
6,278 |
5,302 |
|
Trade Debtors |
6,856 |
5,675 |
5,932 |
5,086 |
|
Other Debtors |
384 |
297 |
346 |
216 |
|
Stocks/WIP |
5,204 |
4,690 |
4,330 |
4,950 |
|
Stocks |
5,204 |
4,690 |
4,330 |
- |
|
Cash |
3,046 |
3,048 |
2,915 |
2,760 |
|
TOTAL ASSETS |
21,340 |
18,159 |
18,207 |
18,285 |
|
TOTAL CURRENT LIABILITIES |
5,374 |
3,825 |
4,207 |
4,400 |
|
Trade creditors |
3,673 |
2,658 |
2,628 |
3,102 |
|
Short Term Loans |
68 |
- |
- |
- |
|
Dividends Payable |
72 |
72 |
72 |
72 |
|
Corporation Tax |
453 |
- |
- |
- |
|
Other Current Liabilities |
81 |
12 |
20 |
30 |
|
Misc Current Liabilities |
1,027 |
1,083 |
1,487 |
1,196 |
|
WORKING CAPITAL |
10,116 |
9,885 |
9,316 |
8,612 |
|
TOTAL LONG TERM LIABS |
1,166 |
133 |
117 |
120 |
|
Long Term Loans |
865 |
0 |
0 |
0 |
|
Other Liabilities |
110 |
0 |
0 |
0 |
|
Total Provisions |
16 |
0 |
0 |
19 |
|
NET ASSETS/(LIABILITIES) |
14,800 |
14,201 |
13,883 |
13,765 |
|
SHARE CAPITAL + RESERVES |
14,800 |
14,201 |
13,883 |
13,765 |
|
Issued Share Capital |
114 |
114 |
114 |
114 |
|
Share Premium Accounts |
375 |
375 |
375 |
375 |
|
Profit and Loss account |
14,770 |
14,171 |
13,861 |
13,276 |
|
Sundry Reserves |
-459 |
-459 |
-467 |
0 |
|
SHAREHOLDERS FUNDS |
14,800 |
14,201 |
13,883 |
13,765 |
|
CAPITAL EMPLOYED |
15,966 |
14,334 |
14,000 |
13,885 |
|
|
|
|
Key Credit Ratios |
|
|
Accounts Date |
30/06/2006 |
30/06/2005 |
30/06/2004 |
30/06/2003 |
|
Current Ratio |
2.88 |
3.58 |
3.21 |
2.96 |
|
Long Term Debt/T.N.W (%) |
6.73 |
0.00 |
0.00 |
0.00 |
|
Profit Before Tax |
7.05 |
6.68 |
7.83 |
8.89 |
|
Debtors Days (D.S.O) |
68.92 |
65.45 |
69.21 |
61.64 |
|
Creditors Days (D.P.O) |
47.95 |
40.17 |
40.68 |
49.97 |
|
Quick Ratio |
1.91 |
2.36 |
2.19 |
1.83 |
|
Return on Assets |
12.00 |
11.64 |
13.45 |
14.64 |
|
T.N.W/Total Assets |
67.93 |
76.79 |
74.24 |
72.68 |
|
Return on Capital |
16.04 |
14.74 |
17.49 |
19.28 |
|
Rtn on Shareholders Funds |
17.30 |
14.88 |
17.64 |
19.45 |
|
Working Capital/Sales |
27.86 |
31.24 |
29.78 |
28.60 |
|
Borrowing Ratio |
6.44 |
- |
- |
- |
|
Equity Gearing |
69.35 |
78.20 |
76.25 |
75.28 |
|
Stock Turnover |
6.98 |
6.75 |
7.23 |
6.08 |
|
|
|
Financial Comparison |
|
The following figures are shown in units of GBP '000 |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
30/06/2006 |
30/06/2005 |
30/06/2004 |
30/06/2003 |
|
Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
|
Net Cashflow from Oper. |
2,468 |
2,337 |
2,270 |
2,351 |
|
Increase in Cash |
-6 |
128 |
200 |
-738 |
|
Directors Remuneration |
733 |
701 |
707 |
699 |
|
Auditors Remuneration |
26 |
32 |
31 |
30 |
|
Other Deferred Liabs |
110 |
0 |
0 |
0 |
|
Tangible Net Worth(T.N.W) |
14,497 |
13,945 |
13,517 |
13,289 |
|
Equity |
14,800 |
14,201 |
13,883 |
13,765 |
|
Number of Employees |
93 |
87 |
83 |
73 |
Key Industry Sector
Trends
|
|
Company |
Industry
Averages |
||
|
|
30/06/2005 |
Lower |
Median |
Upper |
|
Current Ratio |
2.88 |
0.9 |
1.3 |
2 |
|
Borrowing Ratio |
6.44 |
0 |
5 |
149.7 |
|
Return on Capital |
16.04 |
1.4 |
17.8 |
52 |
|
Credit Period |
68.92 |
24.5 |
55.1 |
78.4 |
|
This comparison is based on the results of 0019295 companies in the
same industrial sector: wholesale distribution (not motor vehicles etc) |
Financial Summary
|
Turnover |
Turnover increased by more than 15% in the period. Turnover totalled
GBP 36,309,000 for the period. |
|
Pre Tax |
The subject made a profit of GBP 2,561,000 compared with a profit
of GBP 2,113,000 in the previous period. |
|
Working Capital |
The company's working capital improved in the period by 2% |
|
Tangible Net Worth |
Net worth increased by 552,000 during the period and now stands at
GBP 14,497,000 |
|
Fixed Assets |
The subjects fixed assets increased during the period by
GBP 1,401,000 to GBP 5,850,000 and are now 27% of total assets
compared with 25% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities increased during the period by
777% and are now 8% of net worth compared with 1% in the previous period |
|
Long Term Liabilities |
Long term liabilities are now 5% of total assets compared with 1% in
the previous period |
|
Long Term Liabilities |
Long term liabilities are 7% of capital employed an increase of 6%
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%)