MIRA
INFORM REPORT
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Report Date : |
22.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
CELSTEEL LIMITED |
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Registered Office : |
29
Queen Street, Newton Stewart, Newton Stewart, Wigtownshire, DG8 6JR. |
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Country : |
United Kingdom |
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Financials (as on) : |
05.04.2006 |
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Date of Incorporation : |
11.09.1963 |
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Com. Reg. No.: |
SC039247 |
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Legal Form : |
Private Limited with share
capital |
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Line of Business : |
Wholesaler of other household goods & Sale of precious
stones. |
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 : |
Regular |
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Litigation : |
Clear |
Company Identification Details
Company name : CELSTEEL LIMITED
Trading Address : Suite 212, 100 Hatton Gardens, London, EC1N 8NX
Risk Score
Average Risk - This company has an average risk status and should be treated with a degree of caution
Credit Limit GBP 60,600
Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.
Contract Limit GBP 553,800
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 SC039247
Date of Incorporation 11/09/1963
Registered Office 29 QUEEN STREET, NEWTON STEWART,
NEWTON STEWART, WIGTOWNSHIRE, DG8 6JR .
Date of Last Annual
Return to Registry 08/12/2005
Activities Sale of precious stones.
- -
Accounts The last filed accounts cover
the period to 05/04/2006 and were presented to Companies House on 26/07/2006
Recently Filed Documents
Details of the most recent documents
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Date Received |
Description |
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11/06/1996 |
Notification
Of A Change Among The Directors Of A Company |
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25/02/1985 |
Documents
Making Or Evidencing An Alteration In The Memorandum Or Articles Of
Association |
It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.
Known Directors
DIRECTOR SAMUEL CHAND CHIB
Address 73, CAVENDISH HOUSE , LONDON
, NW8 9SQ
Country of Origin BRITISH
Date of Birth 30/04/1932
Appointment Date 31/12/1988
Other Appointments URBANWORTHY PROPERTY MANAGEMENT LIMITED
DIRECTOR EILEEN MARGARET CHIB
Occupation DIRECTOR
Address ST JOHNS WOOD , LONDON
, NW8 9SQ
Country of Origin BRITISH
Date of Birth 01/09/1933
Appointment Date 31/12/1988
DIRECTOR PHILLIP DAVID CHIB
Occupation DIRECTOR
Address 24, MARDLEY HILL , WELWYN
, HERTS , AL6 0TS
Country of Origin BRITISH
Date of Birth 29/04/1961
Appointment Date 06/06/1996
SECRETARY MR SAMUEL CHAND CHIB
Address 73 , CAVENDISH HOUSE , LONDON
, NW8 9SQ
Country of Origin BRITISH
Date of Birth 30/04/1932
Appointment Date 31/12/1988
Recently Resigned Directors (last
3)
None
Share Summary
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Share
Currency: |
GBP |
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Issued
at date of report: |
10,000 ORD |
Shares
of 1 pence each |
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Prinicipal
Shareholders: |
Type Of Share |
No. of Shares |
Value |
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PHILLIP
D CHIB |
ORD |
4,500 |
45.00 |
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SAMUEL
C CHIB |
ORD |
3,500 |
35.00 |
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EILEEN
M CHIB |
ORD |
1,000 |
10.00 |
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LINDA
WEBB |
ORD |
800 |
8.00 |
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GORDON
P WEBB |
ORD |
200 |
2.00 |
Mortgages and Charges
Total Registered 2
Total Outstanding 2
Total Satisfied 0
Most Recent Mortgage 14/04/1992
Date Registered 27/04/1992
Type 410
Date Created 14/04/1992
Lender BARCLAYS BANK PLC
Secured On ALL SUMS DUE, OR TO BECOME DUE
Details FLAT 73, CAVENDISH HOUSE,
WELLINGTON ROAD, LONDON & GARAGE NO. 50 & PARKING SPACE 11. TITLE
NUMBER NGL 693937.
Satisfied? No
Date Registered 16/09/1981
Type 9999
Date Created 09/09/1981
Lender MIDLAND BANK PLC
Secured On ALL SUMS DUE, OR TO BECOME DUE
Details PENTHOUSE 73, GARAGE 50 AND
PARKING SPACE 11 CAVENDISH HOUSE 21/41 WELLINGTON ROAD ST. JOHNS WOOD LONDON N
W 8
Satisfied? No
Public Record Information
Summary of CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
Activities Sale of precious stones. - -
Sic Code Description
5147 Wholesale of other household goods
Auditors J AND J M RENNIE
Auditors Notes No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified
with no referrals) on the accounts for the period ended 05/04/2006.
Bankers -
Financial Data
PROFIT AND LOSS
The following figures are shown
in units of GBP '000
|
Number
of Weeks |
52 |
52 |
52 |
52 |
|
Accounts
Date |
05/04/2006 |
05/04/2005 |
05/04/2004 |
05/04/2003 |
|
Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
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Consolidated? |
No |
No |
No |
No |
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Depreciation |
11 |
- |
- |
- |
BALANCE SHEET
The following figures are shown
in units of GBP '000
|
Number
of Weeks |
52 |
52 |
52 |
52 |
|
Accounts
Date |
05/04/2006 |
05/04/2005 |
05/04/2004 |
05/04/2003 |
|
Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
|
Consolidated? |
No |
No |
No |
No |
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TOTAL
FIXED ASSETS |
429 |
435 |
446 |
444 |
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Tangible
Assets |
429 |
435 |
446 |
444 |
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Fixed
Assets |
429 |
435 |
446 |
444 |
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TOTAL
CURRENT ASSETS |
1,442 |
1,059 |
1,110 |
959 |
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Total
Debtors |
608 |
546 |
536 |
504 |
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Stocks/WIP |
470 |
419 |
444 |
455 |
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Cash |
365 |
95 |
131 |
0 |
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TOTAL
ASSETS |
1,871 |
1,494 |
1,556 |
1,403 |
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TOTAL
CURRENT LIABILITIES |
510 |
251 |
423 |
342 |
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Short
Term Loans |
- |
- |
- |
55 |
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Bank
Overdraft |
- |
- |
55 |
5 |
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Other
Current Liabilities |
510 |
251 |
368 |
282 |
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WORKING
CAPITAL |
932 |
808 |
687 |
617 |
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TOTAL
LONG TERM LIABS |
364 |
315 |
280 |
229 |
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Long
Term Loans |
- |
- |
277 |
0 |
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Other
Liabilities |
363 |
314 |
0 |
0 |
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Director
Loans |
- |
- |
0 |
227 |
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Total
Provisions |
1 |
1 |
2 |
2 |
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NET
ASSETS/(LIABILITIES) |
997 |
928 |
853 |
832 |
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SHARE
CAPITAL + RESERVES |
997 |
928 |
853 |
832 |
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Issued
Share Capital |
0 |
0 |
0 |
0 |
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Profit
and Loss account |
997 |
928 |
853 |
832 |
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SHAREHOLDERS
FUNDS |
997 |
928 |
853 |
832 |
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CAPITAL
EMPLOYED |
1,361 |
1,243 |
1,133 |
1,061 |
KEY CREDIT RATIOS
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Accounts
Date |
05/04/2006 |
05/04/2005 |
05/04/2004 |
05/04/2003 |
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Current
Ratio |
2.83 |
4.22 |
2.63 |
2.81 |
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Long
Term Debt/T.N.W (%) |
36.46 |
33.80 |
32.52 |
27.32 |
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Quick
Ratio |
1.91 |
2.55 |
1.58 |
1.47 |
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T.N.W/Total
Assets |
53.26 |
62.14 |
54.85 |
59.29 |
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Borrowing
Ratio |
- |
- |
38.97 |
34.53 |
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Equity
Gearing |
53.26 |
62.14 |
54.85 |
59.29 |
FINANCIAL COMPARISON
The following figures are shown
in units of GBP '000
|
Number
of Weeks |
52 |
52 |
52 |
52 |
|
Accounts
Date |
05/04/2006 |
05/04/2005 |
05/04/2004 |
05/04/2003 |
|
Currency |
GBP '000
|
GBP '000
|
GBP '000
|
GBP '000
|
|
Other
Deferred Liabs |
363 |
314 |
0 |
0 |
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Tangible
Net Worth(T.N.W) |
997 |
928 |
853 |
832 |
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Equity |
997 |
928 |
853 |
832 |
KEY INDUSTRY SECTOR TRENDS
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Company |
Industry Averages |
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05/04/2006 |
Lower |
Median |
Upper |
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Current
Ratio |
2.83 |
1 |
1.3 |
2.2 |
This
comparison is based on the results of 0002554 companies in the same industrial
sector:
Financial Summary
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Working
Capital |
The
company's working capital improved in the period by 15% |
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Tangible
Net Worth |
Net
worth increased by 68,265 during the period and now stands at
GBP 996,757 |
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Fixed
Assets |
The
subjects fixed assets reduced during the period by GBP 6,039 to
GBP 429,291 and are now 23% of total assets compared with 29% in the previous
period |
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Long
Term Liabilities |
The
company's long term liabilities increased during the period by 16% and are
now 37% of net worth compared with 34% in the previous period |
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Long
Term Liabilities |
Long term
liabilities are now 19% of total assets compared with 21% in the previous
period |
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Long
Term Liabilities |
Long
term liabilities are 27% of capital employed an increase of 1% 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%)