MIRA
INFORM REPORT
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Report Date : |
20.10.2007 |
IDENTIFICATION DETAILS
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Name : |
DENT STEEL SERVICES ( |
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Registered Office : |
Low Moor Steel Wks, New |
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Country : |
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Financials (as on) : |
31.01.2007 |
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Date of Incorporation : |
22/12/1976 |
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Com. Reg. No.: |
01291878 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Steel stockholders. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
|
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
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Subject Reported on |
DENT STEEL SERVICES ( |
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Ultimate Holding Company |
DENT STEEL SERVICES ( |
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Trading Address |
New |
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Telephone |
01274-607070 |
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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 363,800 |
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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 2,945,000 |
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Buying from this company? The Contract Limit is the recommended
aggregate annual value for supply contracts. |
Official Company
Data
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|
Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
01291878 |
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Date of Incorporation |
22/12/1976 |
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Registered Office |
Low Moor Steel Wks, New |
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Date of Last Annual Return to Registry |
14/06/2007 |
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Activities |
Steel stockholders. |
|
Accounts |
The last filed accounts cover the period to 31/01/2007 and were filed
on 12/09/2007 |
Recently Filed
Documents
Details of the most recent documents
|
Date Received |
Description |
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14/06/2007 |
Annual Return |
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31/01/2007 |
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 |
SALES MANAGER |
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Address |
4, HIGHLEY PARK |
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Country of Origin |
BRITISH |
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Date of Birth |
29/08/1965 |
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Appointment Date |
01/09/2002 |
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Other Appointments |
DENT STEEL SERVICES ( |
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DIRECTOR |
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Occupation |
ACCOUNTANT |
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Address |
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Date of Birth |
28/06/1950 |
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Appointment Date |
01/01/2004 |
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Other Appointments |
DENT STEEL SERVICES ( |
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DIRECTOR |
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Occupation |
STEEL STOCKHOLDER |
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Address |
COLEY MILL COTTAGE , |
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Country of Origin |
BRITISH |
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Date of Birth |
07/02/1941 |
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Appointment Date |
20/06/2001 |
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Other Appointments |
WEST RIDING MASONIC CHARITIES LIMITED, DENT STEEL SERVICES ( |
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SECRETARY |
MR COLIN DENT |
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Address |
COLEY MILL COTTAGE, |
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Country of Origin |
BRITISH |
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Date of Birth |
07/02/1941 |
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Appointment Date |
20/06/2001 |
Recently Resigned
Directors (last 3)
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None |
Share Summary
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
%age |
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S A Brunn |
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90.00 |
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John De Jong |
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10.00 |
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Mortgages and
Charges
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Total Registered |
10 |
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Total Outstanding |
2 |
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Total Satisfied |
8 |
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Most Recent Mortgage |
05/09/2001 |
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Date Registered |
07/09/2001 |
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Type |
395 |
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Date Created |
05/09/2001 |
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Lender |
HSBC BANK PLC |
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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 |
THE PROPERTY AT LAND AND BUILDINGS ON THE NORTH SIDE OF WAGONWAY ROAD
HEBBURN SOUTH TYNESIDE TYNE AND WEAR TITLE NUMBER TY323181 WITH THE BENEFIT
OF ALL RIGHTS LICENCES GUARANTEES RENT DEPOSITS CONTRACTS DEEDS UNDERTAKINGS
AND WARRANTIES RELATING TO THE PROPERTY ANY SHARES OR MEMBERSHIP RIGHTS IN
ANY MANAGEMENT COMPANY FOR THE PROPERTY ANY GOODWILL OF ANY BUSINESS FROM
TIME TO TIME CARRIED ON AT THE PROPERTY ANY RENTAL AND OTHER MONEY PAYABLE
UNDER ANY LEASE LICENCE OR OTHER INTEREST CREATED IN RESPECT OF THE PROPERTY
AND ALL OTHER PAYMENTS WHATEVER IN RESPECT OF THE PROPERTY |
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Satisfied? |
Fully |
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Date Registered |
07/02/2007 |
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Type |
403A |
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Date Created |
05/09/2001 |
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Lender |
HSBC BANK PLC |
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Details |
LAND AND BUILDINGS LYING TO THE NORTH EAST OF NEW WORKS ROAD LOW MOOR
TITLE NUMBER WYK335824 WITH THE BENEFIT OF ALL RIGHTS LICENCES GUARANTEES
RENT DEPOSITS CONTRACTS DEEDS UNDERTAKINGS AND WARRANTIES RELATING TO THE
PROPERTY ANY SHARES OR MEMBERSHIP RIGHTS IN ANY MANAGEMENT COMPANY FOR THE
PROPERTY ANY GOODWILL OF ANY BUSINESS FROM TIME TO TIME CARRIED ON AT THE
PROPERTY ANY RENTAL AND OTHER MONEY PAYABLE UNDER ANY LEASE LICENCE OR OTHER
INTEREST CREATED IN RESPECT OF THE PROPERTY AND ALL OTHER PAYMENTS WHATEVER
IN RESPECT OF THE PROPERTY |
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Satisfied? |
Fully |
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Date Registered |
07/09/2001 |
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Type |
395 |
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Date Created |
05/09/2001 |
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Lender |
HSBC BANK PLC |
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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 |
LAND AND BUILDINGS LYING TO THE NORTH EAST OF NEW WORKS ROAD LOW MOOR
TITLE NUMBER WYK335824 WITH THE BENEFIT OF ALL RIGHTS LICENCES GUARANTEES
RENT DEPOSITS CONTRACTS DEEDS UNDERTAKINGS AND WARRANTIES RELATING TO THE PROPERTY
ANY SHARES OR MEMBERSHIP RIGHTS IN ANY MANAGEMENT COMPANY FOR THE PROPERTY
ANY GOODWILL OF ANY BUSINESS FROM TIME TO TIME CARRIED ON AT THE PROPERTY ANY
RENTAL AND OTHER MONEY PAYABLE UNDER ANY LEASE LICENCE OR OTHER INTEREST
CREATED IN RESPECT OF THE PROPERTY AND ALL OTHER PAYMENTS WHATEVER IN RESPECT
OF THE PROPERTY |
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Satisfied? |
Fully |
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Date Registered |
22/08/2001 |
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Type |
395 |
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Date Created |
20/08/2001 |
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Lender |
HSBC BANK PLC |
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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 CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL
BUILDINGS FIXTURES FIXED PLANT AND MACHINERY |
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Satisfied? |
No |
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Date Registered |
11/08/2001 |
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Type |
395 |
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Date Created |
10/08/2001 |
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Lender |
HSBC INVOICE FINANCE ( |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE
WHETHER ARISING UNDER AN AGREEMENT FOR THE PURCHASE OF DEBTS OR OTHERWISE |
|
Details |
BY WAY OF FIXED EQUITABLE CHARGE OVER ALL DEBTS PURCHASED BY THE
SECURITY HOLDER PURSUANT TO AN AGREEMENT FOR THE PURCHASE OF DEBTS (INCLUDING
THE ASSOCIATED RIGHTS RELATING THERETO) WHICH FAIL TO VEST EFFECTIVELY OR
ABSOLUTELY FOR ANY REASON |
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Satisfied? |
No |
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Date Registered |
01/09/1997 |
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Type |
395 |
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Date Created |
28/08/1997 |
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Lender |
COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B A |
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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 |
PROPERTY KA LAND AND BUILDINGS AT HEBBURN SHIPYARD TYNE & WEAR TNo
323181 AND LAND AND BUILDINGS ON NORTH SIDE OF NEW WORKS ROAD BRADFORD TNo
WYK335824 FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY
AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL
BUILDINGS FIXTURES FIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT
FOR FULL DETAILS |
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Satisfied? |
Fully |
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Date Registered |
07/08/1996 |
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Type |
395 |
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Date Created |
31/07/1996 |
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Lender |
BARCLAYS BANK PLC |
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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 |
FH LAND AND STRUCTURES ERECTED THEREON SITUATE AT HEPBURN SHIPYARD,
HEPBURN, TYNE & WEAR SHOWN EDGED RED ON THE PLAN ATTACHED TO THE CHARGE
BEING PART OF TNo. TY232136 |
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Satisfied? |
Fully |
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Date Registered |
12/01/1996 |
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Type |
395 |
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Date Created |
08/01/1996 |
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Lender |
BARCLAYS BANK PLC |
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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 |
LAND AND BUILDINGS LYING TO THE NORTH EAST OF NEW |
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Satisfied? |
Fully |
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Date Registered |
20/12/1995 |
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Type |
395 |
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Date Created |
15/12/1995 |
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Lender |
BARCLAYS BANK PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY
ACCOUNT WHATSOEVER |
|
Details |
FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL
BUILDINGS FIXTURES FIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT
FOR FULL DETAILS |
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Satisfied? |
Fully |
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Date Registered |
12/05/1993 |
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Type |
395 |
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Date Created |
06/05/1993 |
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Lender |
BARCLAYS BANK PLC |
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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 |
ALL BOOK & OTHER DEBTS SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL
DETAILS |
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Satisfied? |
Fully |
Public Record
Information
Summary of CCJ's/Scottish Decrees
|
There are no unsatisfied CCJs against the company. |
Operations
|
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Activities |
Steel stockholders. |
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Sic Code |
Description |
|
5152 |
Wholesale of metals and metal ores |
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Staff Employed |
55 |
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Auditors |
RSM Bentley Jennison |
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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. |
|
Bankers |
Barclays Bank PLC |
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Sort Codes |
202608 |
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Bankers |
HSBC Bank PLC |
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Sort Codes |
402715 |
Financial Data
|
The following figures are shown in units of 000 |
|
Profit and Loss |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/01/2007 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Consolidated? |
No |
No |
No |
No |
|
SALES |
22,338 |
15,818 |
18,622 |
13,235 |
|
Other operating income |
68 |
44 |
41 |
64 |
|
Cost of goods sold |
18,255 |
12,850 |
15,470 |
11,149 |
|
GROSS PROFIT |
4,082 |
2,968 |
3,152 |
2,085 |
|
General administration costs (-) |
2,867 |
2,550 |
2,594 |
1,758 |
|
Wages and Salaries |
1,786 |
1,470 |
1,358 |
980 |
|
Depreciation |
251 |
152 |
163 |
117 |
|
Net Operating Profit(Loss) |
1,284 |
462 |
599 |
391 |
|
Non Trading Income |
0 |
0 |
0 |
0 |
|
Total Non Trading Income |
0 |
0 |
0 |
0 |
|
Interest expenses & similar (-) |
28 |
34 |
152 |
137 |
|
Other financial charges |
78 |
129 |
- |
- |
|
Financial Expenses |
106 |
163 |
152 |
137 |
|
PRE TAX PROFIT |
1,178 |
299 |
447 |
255 |
|
Other Taxation |
83 |
-13 |
44 |
0 |
|
Taxation |
315 |
88 |
96 |
6 |
|
PROFIT AFTER TAX |
780 |
224 |
307 |
248 |
|
Net Profit |
780 |
224 |
307 |
248 |
|
Dividends Payable |
0 |
0 |
0 |
0 |
|
RETAINED PROFITS |
780 |
224 |
307 |
248 |
|
Balance Sheet |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/01/2007 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL FIXED ASSETS |
925 |
2,077 |
2,150 |
1,969 |
|
Land & buildings |
0 |
1,448 |
1,450 |
1,423 |
|
Plant, machinery & equipment |
925 |
629 |
700 |
546 |
|
TOTAL CURRENT ASSETS |
10,675 |
4,385 |
6,362 |
5,172 |
|
Stocks |
1,502 |
1,488 |
2,888 |
1,403 |
|
Trade Debtors |
4,560 |
2,850 |
3,420 |
3,716 |
|
Prepaid expenses |
50 |
- |
53 |
51 |
|
Group Loans |
4,455 |
- |
- |
- |
|
Cash |
108 |
10 |
1 |
2 |
|
TOTAL ASSETS |
11,600 |
6,461 |
8,512 |
7,141 |
|
TOTAL CURRENT LIABILITIES |
8,582 |
4,575 |
6,797 |
5,737 |
|
Trade Creditors |
4,054 |
2,467 |
3,400 |
3,010 |
|
Bank Overdraft |
3,252 |
1,326 |
2,349 |
2,116 |
|
Taxes |
535 |
449 |
523 |
379 |
|
Accruals & deferred income |
741 |
333 |
525 |
231 |
|
WORKING CAPITAL |
2,093 |
-190 |
-434 |
-565 |
|
TOTAL LONG TERM LIABS |
72 |
40 |
94 |
90 |
|
Taxation |
72 |
30 |
44 |
- |
|
NET ASSETS/(LIABILITIES) |
3,018 |
1,887 |
1,716 |
1,405 |
|
SHARE CAPITAL + RESERVES |
2,945 |
1,846 |
1,622 |
1,315 |
|
Issued Share Capital |
20 |
20 |
20 |
20 |
|
Profit and Loss account |
2,925 |
1,826 |
1,602 |
1,295 |
|
SHAREHOLDERS FUNDS |
2,945 |
1,846 |
1,622 |
1,315 |
|
CAPITAL EMPLOYED |
3,017 |
1,886 |
1,716 |
1,405 |
|
TANGIBLE NET WORTH |
2,945 |
1,846 |
1,622 |
1,315 |
Key Credit Ratios
|
Accounts Date |
31/01/2007 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Current Ratio |
1.24 |
0.96 |
0.94 |
0.90 |
|
Profit Before Tax |
0.05 |
0.02 |
0.02 |
0.02 |
|
Creditors Days (D.P.O) |
81.05 |
70.07 |
80.22 |
98.53 |
|
Quick Ratio |
1.07 |
0.63 |
0.51 |
0.66 |
|
Return on Assets |
10.16 |
4.63 |
5.25 |
3.57 |
|
T.N.W/Total Assets |
0.25 |
0.29 |
0.19 |
0.18 |
|
Return on Capital |
39.05 |
15.85 |
26.05 |
18.15 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Equity Gearing |
0.41 |
0.62 |
0.37 |
- |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
Financial Summary
|
Turnover |
Turnover increased by more than 41% in the period. Turnover totaled
GBP 22,338,000 for the period. |
|
Operating Profit |
Totaled GBP 1,284,000 In the period prior a profit of GBP
462,000 was achieved. |
|
Pre Tax |
The subject made a profit of GBP 1,178,000 compared with a
profit of GBP 299,000 in the previous period. |
|
Working Capital |
The company's working capital improved in the period by -1202% |
|
Tangible Net Worth |
Net worth increased by 1,099,000 during the period and now stands at
GBP 2,945,000 |
|
Fixed Assets |
The subjects fixed assets reduced during the period by GBP
1,152,000 to GBP 925,000 and are now 8% of total assets compared
with 32% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities increased during the period by
118% and are now 28% of net worth compared with 20% in the previous period |
|
Long Term Liabilities |
Long term liabilities are now 7% of total assets compared with 6% 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 |
|
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%)