MIRA
INFORM REPORT
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Report Date : |
28.05.2007 |
IDENTIFICATION DETAILS
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Name : |
AERIAL SURVEYOR LIMITED |
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Registered Office : |
470A GREEN
LANES, PALMERS GREEN, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05/02/2003 |
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Com. Reg. No.: |
04657362 |
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Legal Form : |
Private Limited |
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Line of Business : |
-- |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Identification Details
Subject Reported
on AERIAL SURVEYOR
LIMITED
Creditline Recommendations
Risk Category NORMAL RISK
Official Company Data
Legal Form Private Limited
Registration
Number 04657362
Date of
Incorporation 05/02/2003
Registered Office 470A GREEN LANES,
PALMERS GREEN,
History 4/02/2006 : The
Registered Office address changed from KENNETT HOUSE, 108-
12/03/2005 : The
Registered Office address changed from THE OLD VICARAGE,
STATION
ROAD, ASHBY DE LA Z.
29/04/2004 : The
Registered Office address changed from 18, CASTLE ROCK
DRIVE,
COALVILLE, LEICESTERSH.
13/02/2003 :
Change of name from AERIAL SUVEYOR LIMITED.
Date of Last
Annual
Return to Registry
05/02/2007
Accounts The last filed
accounts at Companies House are those to 31/03/2006
Accounting
Reference
Date 31/03
Operations
Nace Code 7484
Staff Employed 2
Auditors N. Shah & Co
Public Record
Information
Summary of
CCJ's/Scottish Decrees
No CCJs/Scottish Decrees are recorded in our
file.
Other Filings and
Notices
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Date |
Source |
Description |
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04/02/2006 |
Companies House Gazette |
Change among the directors of a company |
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12/03/2005 |
Companies House Gazette |
Change among the directors of a company |
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23/09/2004 |
Companies House Gazette |
Change among the directors of a company |
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28/08/2004 |
Companies House Gazette |
Change among the directors of a company |
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08/05/2003 |
Companies House Gazette |
Change among the directors of a company |
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18/02/2003 |
Companies House Gazette |
Change among the directors of a company |
Company Secretary
Secretary R SHAH & CO LTD
Address 470A
GREEN LANES, PALMERS GREEN,
Country of Origin UNITED KINGDOM
Appointment Date 28/01/2006
Directors
Director
Address 18/4
HEMKUTIR, R A K ROAD WADALA, MUMBAI,
Country of Origin
Date of Birth 07/03/1954
Appointment Date 19/08/2004
Share Capital
Shares Ordinary GBP 1.00
Issued Number 2
Principal
Shareholder 2 Genesys
International
The above reflects
the principle shareholder(s) by number of shares held, irrespective of share
classification type.
Holding Company
GENESYS INTERNATIONAL (
Payment Analysis
(No Payment Analysis Data is Available)
Financial Data
Profit and Loss
The following
figures are shown in units of 1000
Number of Weeks 52 52 60
Accounts Date 31/03/2006 31/03/2005 31/03/2004
Currency GBP GBP GBP
SALES 72 73
Cost of goods sold 67 67
GROSS PROFIT 5 6
Wages and Salaries 6 10
PRE TAX PROFIT (35) (18)
Balance Sheet
The following
figures are shown in units of 1000
Number of Weeks 52 52 60
Accounts Date 31/03/2006 31/03/2005 31/03/2004
Currency GBP GBP GBP
TOTAL FIXED ASSETS 16 23 10
Tangible Assets 4 7 10
Intangible Assets 12 16
TOTAL CURRENT
ASSETS 1 8 95
Trade debtors 1 1 48
Stocks 41
Other Current
Assets 7 6
Misc Current
Assets 7 3
Due From Group 2
Cash 1
TOTAL ASSETS 17 31 105
TOTAL CURRENT
LIABILITIES 35 35 123
Trade creditors 35 1 6
Short Term Loans 89
Due To Group 89
Other Liabilities 34 28
WORKING CAPITAL (34) (27) (28)
TOTAL LONG TERM
LIABS 48 49
Long Term Loans 49
Due To Group 49
NET
ASSETS/(LIABILITIES) (66) (53) (18)
SHARE CAPITAL +
RESERVES (66) (53) (18)
Profit and Loss
account (66) (53) (18)
SHAREHOLDERS FUNDS (66) (53) (18)
CAPITAL EMPLOYED (18) (4) (18)
Financial
Comparison
The following
figures are shown in units of 1000
Number of Weeks 52 52 60
Accounts Date 31/03/2006 31/03/2005 31/03/2004
Currency GBP GBP GBP
Liquid Assets 1 1 49
Net Working
Capital (34) (27) (28)
Long Term
Debt(>12 Months) 49
Other Deferred
Liabs 48
Tangible Net
Worth(T.N.W) (78) (69) (18)
Equity (66) (53) (18)
Number of Years
Trading 3 2 1
Number of
Employees 2 3
Profit per
Employee (17500) (6000)
Sales per Employee 36000 24333.3
Key Credit Ratios
The following
figures are shown as Ratios or Percentages
Accounts Date 31/03/2006 31/03/2005 31/03/2004
Current Ratio 0.2 0.8
Long Term
Debt/T.N.W (0.7)
Pre Tax Profit
Margin% (48.6) (24.7)
Gross Profit% 6.9 8.2
Debtors Days
(D.S.O) 5 240
Creditors Days
(D.P.O) 5 30
Quick Ratio 0.2 0.4
W.I.P/Inventory
Days 223.4
Return on
Investment% 875 (25.4)
Return on Assets% (112.9) (17.1)
T.N.W/Total
Assets% (458.8) (222.6) (17.1)
Return on Capital% 875 100
Working
Capital/Sales% (37.5) (38.4)
Borrowing Ratio% (71) (494.4)
Equity Gearing% (79.5) (63.1) (14.6)
Stock Turnover 1.8
Days Purchases
Outstanding 5.4 32.7
Key Industry Sector
Trends
Year 2007 2006 2005 2004
Sample Size 1236 99999 99999 99999
Pre-Tax Profit
Margin 45.8 30.5 20.2 19
Current Ratio 1.6 1.6 1.7 1.6
Borrowing Ratio 45 26.7 32.5 35.6
Return on Capital 1080.5 216.4 98.7 92.2
Creditors Days 36 129 254 172
Above figures
relate to companies in 1992 Standard Industry Classification (Nace) sector :
Miscellaneous business activities not elsewhere classified
Financial Summary
Auditors
Qualification
The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/03/2006.
No Turnover
The company's balance sheet total is less than GBP 2,800,001 and therefore this is a small company as defined by the Companies Act.It is not required to disclose turnover but it is likely to be less than GBP 5,600,000.
Working Capital
The company's working capital deficiency increased in the period and now totals GBP 34,000.
Net Worth
The company's negative net worth increased during the year by GBP 13,000 and is now deficient by GBP 66,000.
Fixed Assets
The subject's fixed assets reduced during the year by GBP 7,000 to GBP 16,000 and are now 94 % of total assets compared with 74 % in the previous year.
Long Term
Liabilities
The company's long term liabilities reduced during the period by 2 % and are now 73 % of net worth compared with 92 % in the previous period.
Long Term
Liabilities
Long term liabilities are now 282 % of total liabilities compared with 158 % in the previous period.
Long Term
Liabilities
Long term liabilities are 267 % of capital employed, an increase of 958 % 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%)