MIRA
INFORM REPORT
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Report Date : |
07.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
MEADE-KING,ROBINSON & COMPANY LIMITED |
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Registered Office : |
Tower Building, 22 Water Street, Liverpool, L3 1BL |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
23/02/1917 |
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Com. Reg. No.: |
00146176 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Gum & Wood Chemical Manufacturers |
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 : |
No Complaints |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
MEADE-KING,ROBINSON & COMPANY LIMITED |
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Ultimate Holding Company |
MEADE-KING,ROBINSON & COMPANY L |
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Trading Address |
Tower Building,22 Water Street,LIVERPOOL,L3 1BL |
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Telephone |
0151-236-3191 |
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Risk Score |
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Low Risk - There is a high degree of confidence this
company will prove good for the assigned Credit Limit |
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Credit Limit |
GBP 227,000 |
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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 1,550,000 |
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Buying from this company? The Contract Limit is the recommended
aggregate annual value for supply contracts. |
Significant Event
|
Please note change of address |
Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
00146176 |
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Date of Incorporation |
23/02/1917 |
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Registered Office |
Tower Building, 22 Water Street, Liverpool, L3 1BL |
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Date of Last Annual Return to Registry |
21/11/2006 |
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Activities |
GUM & WOOD CHEMICAL MANUFACTURERS |
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Accounts |
The last filed accounts cover the period to 31/03/2007 and
were filed on 09/07/2007 |
Recently Filed Documents
Details of the most recent documents
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Date
Received |
Description |
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21/11/2006 |
Annual Return |
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31/03/2007 |
Financial Statement / Set of Accounts |
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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 |
OIL MERCHANT |
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Address |
24, WESTWOOD ROAD NOCTORUM , PRENTON
, MERSEYSIDE , CH43 9RQ |
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Country of Origin |
BRITISH |
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Date of Birth |
28/12/1939 |
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Appointment Date |
04/12/1991 |
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Other Appointments |
MEADE-KING,ROBINSON & COMPANY LIMITED, LIVERPOOL
OIL STORES LIMITED |
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DIRECTOR |
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Occupation |
NON EXECUTIVE DIRECTOR |
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Address |
ASHDOWN HOUSE , HARE STREET , BUNTINGFORD
, HERTS , SG9 0DX |
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Country of Origin |
BRITISH |
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Date of Birth |
30/06/1941 |
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Appointment Date |
04/12/1991 |
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Other Appointments |
MEADE-KING,ROBINSON & COMPANY LIMITED, SME -
ASHDOWN LIMITED |
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DIRECTOR |
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Occupation |
MANAGING DIRECTOR |
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Address |
11, LINGDALE ROAD WEST KIRBY , WIRRAL
, MERSEYSIDE , CH48 5DG |
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Country of Origin |
BRITISH |
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Date of Birth |
17/09/1960 |
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Appointment Date |
23/11/1999 |
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Other Appointments |
MEADE-KING,ROBINSON & COMPANY LIMITED, LIVERPOOL
OIL STORES LIMITED |
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DIRECTOR |
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Occupation |
NON EXECUTIVE DIRECTOR |
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Address |
RAVENSBOURNE , BURTON HALL ROAD ROSSETT
, WREXHAM , CLWYD , LL12 0AR |
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Country of Origin |
BRITISH |
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Date of Birth |
25/11/1932 |
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Appointment Date |
04/12/1991 |
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Other Appointments |
MEADE-KING,ROBINSON & COMPANY LIMITED |
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SECRETARY |
MR PHILIP TARLETON |
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Address |
11 LINGDALE ROAD, WEST KIRBY , WIRRAL
, CH48 5DG |
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Country of Origin |
BRITISH |
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Date of Birth |
17/09/1960 |
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Appointment Date |
01/07/1994 |
Recently Resigned Directors (last
3)
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DIRECTOR |
BRIAN ROBERT MOATE |
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Occupation |
OIL MERCHANT |
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Address |
9 , POND VIEW CLOSE , WIRRAL , MERSEYSIDE
, - - |
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Date of Birth |
13/03/1947 |
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Resignation Date |
12/04/2002 |
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DIRECTOR |
RODNEY HAVARD |
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Occupation |
OIL MERCHANT |
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Address |
12 , WARD ROAD , LIVERPOOL , MERSEYSIDE
, - - |
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Date of Birth |
27/02/1922 |
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Resignation Date |
21/11/2001 |
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DIRECTOR |
RICHARD J HAVARD |
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Occupation |
OIL MERCHANT |
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Address |
17 , ELTON AVENUE , LIVERPOOL , MERSEYSIDE
, - - |
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Date of Birth |
26/07/1953 |
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Resignation Date |
21/11/2000 |
Share Summary
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Shareholder Name |
Percentage |
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Anthony Graeme De Bracey Marrs |
28.00% |
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Jennifer S Wightwick |
25.00% |
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Philip Tarleton |
24.00% |
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James Donald C Smellie |
23.00% |
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Mortgages and Charges
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Total Registered |
2 |
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Total Outstanding |
2 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
06/08/1992 |
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Date Registered |
12/08/1992 |
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Type |
395 |
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Date Created |
06/08/1992 |
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Lender |
BARCLAYS BANK LTD |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE |
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Details |
3RD FLOOR AT 162 BUCHANAN ST. GLASGOW |
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Satisfied? |
No |
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Date Registered |
23/03/1982 |
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Type |
9999 |
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Date Created |
17/03/1982 |
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Lender |
BARCLAYS BANK LTD |
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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 CHARGE OVER UNDERTAKING AND ALL PROPERTY
AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL, BOOKDEBTS & UNCALLED
CAPITAL. WITH ALL BUILDINGS, FIXTURES (INCLUDING TRADE FIXTURES) FIXED PLANT
AND MACHINERY. |
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Satisfied? |
No |
Public Record Information
Summary of CCJ's/Scottish Decrees
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There are no unsatisfied CCJs against the company. |
Operations
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Activities |
GUM & WOOD CHEMICAL MANUFACTURERS |
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Sic Code |
Description |
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2466 |
Manufacture of other chemical products not elsewhere classified |
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Staff Employed |
23 |
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Auditors |
Grant Thornton UK LLP |
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Auditors Notes |
No Qualification. The Auditors have expressed a clean
opinion (i.e. unqualified with no referrals) on the latest accounts. |
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Bankers |
Barclays Bank PLC |
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Sort Codes |
205101 |
Financial Data
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The following figures are shown in units of 000 |
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Profit and Loss |
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Consolidated? |
No |
No |
No |
No |
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SALES |
29,781 |
18,597 |
8,537 |
6,775 |
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Export Sales |
1,805 |
1,579 |
1,197 |
1,298 |
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Cost of goods sold |
26,050 |
16,040 |
6,823 |
5,273 |
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GROSS PROFIT |
3,731 |
2,557 |
1,714 |
1,502 |
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Other Expenses |
1,258 |
1,094 |
833 |
637 |
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General administration costs (-) |
1,637 |
1,051 |
867 |
829 |
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Wages and Salaries |
1,000 |
624 |
572 |
530 |
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Depreciation |
46 |
30 |
32 |
34 |
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Net Operating Profit(Loss) |
835 |
412 |
14 |
37 |
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Non Trading Income |
2 |
- |
2 |
- |
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Other financial income |
219 |
2 |
- |
2 |
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Total Non Trading Income |
221 |
2 |
2 |
2 |
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Interest expenses & similar (-) |
36 |
41 |
18 |
15 |
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Financial Expenses |
36 |
41 |
18 |
15 |
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PRE TAX PROFIT |
1,020 |
374 |
-2 |
24 |
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Other Taxation |
0 |
17 |
-17 |
- |
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Taxation |
260 |
57 |
0 |
- |
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PROFIT AFTER TAX |
760 |
300 |
15 |
24 |
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Net Profit |
760 |
300 |
15 |
24 |
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Dividends Payable |
364 |
15 |
4 |
4 |
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RETAINED PROFITS |
396 |
285 |
11 |
20 |
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Balance Sheet |
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
205 |
141 |
118 |
102 |
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Plant, machinery & equipment |
202 |
137 |
- |
98 |
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Intermediate Assets |
3 |
4 |
4 |
4 |
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TOTAL CURRENT ASSETS |
6,524 |
4,891 |
3,004 |
2,205 |
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Stocks |
1,536 |
790 |
828 |
861 |
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Trade Debtors |
4,869 |
3,994 |
2,111 |
1,232 |
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Other Receivables |
67 |
11 |
22 |
17 |
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Prepaid expenses |
21 |
20 |
25 |
18 |
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Cash |
30 |
77 |
2 |
78 |
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TOTAL ASSETS |
6,729 |
5,033 |
3,122 |
2,308 |
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TOTAL CURRENT LIABILITIES |
5,105 |
3,804 |
2,178 |
1,374 |
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Trade Creditors |
3,991 |
3,026 |
1,569 |
988 |
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Taxes |
621 |
376 |
177 |
156 |
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Other Current Liabilities |
441 |
307 |
28 |
20 |
|
Due From Group |
2 |
2 |
2 |
2 |
|
Accruals & deferred income |
50 |
93 |
11 |
36 |
|
WORKING CAPITAL |
1,419 |
1,088 |
826 |
831 |
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TOTAL LONG TERM LIABS |
75 |
75 |
0 |
0 |
|
Other Long Term Liabilities |
75 |
75 |
- |
- |
|
NET ASSETS/(LIABILITIES) |
1,625 |
1,229 |
944 |
934 |
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SHARE CAPITAL + RESERVES |
1,550 |
1,154 |
944 |
934 |
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Issued Share Capital |
25 |
25 |
100 |
100 |
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Profit and Loss account |
1,525 |
1,129 |
844 |
834 |
|
SHAREHOLDERS FUNDS |
1,550 |
1,154 |
944 |
934 |
|
CAPITAL EMPLOYED |
1,625 |
1,229 |
944 |
934 |
|
TANGIBLE NET WORTH |
1,550 |
1,154 |
944 |
934 |
Key Credit Ratios
|
Accounts Date |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
|
Current Ratio |
1.28 |
1.29 |
1.38 |
1.60 |
|
Profit Before Tax |
0.03 |
0.02 |
0.00 |
0.00 |
|
Creditors Days (D.P.O) |
55.92 |
68.86 |
83.93 |
68.39 |
|
Quick Ratio |
0.98 |
1.08 |
1.00 |
0.98 |
|
Return on Assets |
15.17 |
7.44 |
-0.06 |
1.04 |
|
T.N.W/Total Assets |
0.23 |
0.23 |
0.30 |
0.40 |
|
Return on Capital |
62.77 |
30.43 |
-0.21 |
2.57 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Equity Gearing |
0.21 |
0.15 |
- |
- |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
Financial Summary
|
Turnover |
Turnover increased by more than 60% in the period.
Turnover totaled GBP 29,781,000 for the period. |
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Operating Profit |
Totaled GBP 835,000 In the period prior a profit of
GBP 412,000 was achieved. |
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Pre Tax |
The subject made a profit of GBP 1,020,000 compared
with a profit of GBP 374,000 in the previous period. |
|
Working Capital |
The company's working capital improved in the period by
30% |
|
Tangible Net Worth |
Net worth increased by 396,000 during the period and now
stands at GBP 1,550,000 |
|
Fixed Assets |
The subjects fixed assets increased during the period by
GBP 65,000 to GBP 202,000 and are now 3% of total assets compared
with 3% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities reduced during the
period by 26% and are now 8% of net worth compared with 15% in the previous
period |
|
Long Term Liabilities |
Long term liabilities are now 2% of total assets compared
with 3% in 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 |
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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 |
|
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. |
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%)