MIRA
INFORM REPORT
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Report Date : |
26.10.2007 |
IDENTIFICATION DETAILS
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Name : |
DEREK RAPHAEL & COMPANY LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
21/12/1973 |
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Com. Reg. No.: |
01153094 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Commodity brokers. |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company
Identification Details
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Subject Reported on |
DEREK RAPHAEL & COMPANY LIMITED |
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Holding Company |
DEREK RAPHAEL (HOLDINGS) LTD |
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Ultimate Holding Company |
DEREK RAPHAEL (HOLDINGS) LTD |
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Trading Address |
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Telephone |
01285-885821 |
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Very Low Risk - There is every confidence this company will prove good
for the assigned Credit Limit |
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Credit Limit |
US Dollar 6,485,800 |
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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 |
US Dollar 35,710,000 |
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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 |
01153094 |
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Date of Incorporation |
21/12/1973 |
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Registered Office |
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Date of Last Annual Return to Registry |
16/05/2007 |
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Activities |
Commodity brokers. |
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Accounts |
The last filed accounts cover the period to 31/12/2006 and were filed
on 20/07/2007 |
Recently Filed
Documents
Details of the most recent documents
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Date Received |
Description |
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16/05/2007 |
Annual Return |
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31/12/2006 |
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 |
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Address |
99, CLIFTON HILL , |
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Date of Birth |
03/09/1938 |
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Appointment Date |
16/05/2006 |
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Other Appointments |
DEREK RAPHAEL & COMPANY LIMITED, DEREK RAPHAEL (HOLDINGS)
LIMITED, DRC ENERGY LIMITED, DRC METALLURGICAL LIMITED, DRC
PROPERTIES LIMITED, DRC MINING LIMITED |
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DIRECTOR |
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Occupation |
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Address |
223, |
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Date of Birth |
01/11/1938 |
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Appointment Date |
16/05/2006 |
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Other Appointments |
DEREK RAPHAEL & COMPANY LIMITED, DEREK RAPHAEL (HOLDINGS)
LIMITED |
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DIRECTOR |
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Occupation |
SOLICITOR |
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Address |
25A, FROGNAL HAMPSTEAD , |
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Date of Birth |
14/12/1944 |
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Appointment Date |
01/11/1994 |
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Other Appointments |
PENNINGTONS DIRECTORS (NO. 1) LIMITED, DEREK RAPHAEL &
COMPANY LIMITED, JAMAICA HOUSE LIMITED, GLASSBARK LIMITED
, I.M.H. INVESTMENTS LIMITED, BERWICK UNIVERSAL
LIMITED, FROGNAL INVESTMENTS LIMITED, SOL PLAATJE EDUCATIONAL
PROJECT , PENNSEC LIMITED, DEREK RAPHAEL (HOLDINGS)
LIMITED, BM NOMINEES LIMITED, SAREP LIMITED, PETROJAM (UK)
LIMITED, MARKET THEATRE FOUNDATION UK , CORDATECH LIMITED, THE
PHOENIX SCHOOL LIMITED, SOUTHERN PROSPECTING (UK) LIMITED, DEREK
RAPHAEL & COMPANY TRUSTEES LIMITED, THE UK FRIENDS OF BUNDANON
LIMITED, FAWSLEY HALL HOTEL LIMITED, HAREFIELD ADVANCED TECHNOLOGY
LTD , JOHANNESBURG CHILD WELFARE SOCIETY UK , IQBAL CHARITABLE
TRUST LIMITED, EDWIN FOX FOUNDATION , WIZZIWOO LIMITED, WITS
FOUNDATION UK , UBUNTU CHARITABLE FOUNDATION , SA CONSTITUTIONAL
COURT TRUST UK , FORT HARE FOUNDATION UK, CIDA FOUNDATION
, GABEM HOLDINGS LIMITED, CANON COLLINS EDUCATIONAL TRUST FOR SOUTHERN
AFRICA, UCS ENTERPRISES LIMITED, CANSA FOUNDATION UK , T P
RESORT LIMITED, GRAYSHOTT LEISURE LIMITED, STELLENBOSCH UNIVERSITY
SA FOUNDATION UK , STEP FOUNDATION , OPERA AUSTRALIA CAPITAL FUND
UK, WATCH HILL CHARITABLE FOUNDATION , UCS FACILITIES |
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
5, |
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Country of Origin |
BRITISH |
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Date of Birth |
15/04/1969 |
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Appointment Date |
13/06/2001 |
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Other Appointments |
DEREK RAPHAEL & COMPANY LIMITED, DEREK RAPHAEL (HOLDINGS)
LIMITED, DRC ENERGY LIMITED, DRC METALLURGICAL LIMITED, DRC
PROPERTIES LIMITED, DRC MINING LIMITED, METALMASS LTD |
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SECRETARY |
CHERRYLL WOOD |
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Address |
SPEARHILL, |
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Country of Origin |
BRITISH |
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Date of Birth |
24/07/1946 |
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Appointment Date |
30/09/2001 |
Recently Resigned
Directors (last 3)
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DIRECTOR |
ROY MAXWELL WALTON |
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Address |
LONG HEATH , |
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Date of Birth |
11/07/1963 |
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Resignation Date |
30/09/2001 |
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DIRECTOR |
DAVID JOHN CHARLES BROWN |
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Address |
42 , |
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Date of Birth |
16/05/1953 |
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Resignation Date |
31/05/2001 |
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DIRECTOR |
GUY N R DARBY |
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Occupation |
EXECUIVE TRADER |
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Address |
CROFTERS QUEENS CORNER , QUEENS CORNER , MIDHURST , |
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Date of Birth |
25/12/1962 |
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Resignation Date |
31/03/2001 |
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 |
Commodity brokers. |
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Sic Code |
Description |
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6523 |
Other financial intermediation not elsewhere classified |
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Staff Employed |
7 |
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Auditors |
Ward Goodman |
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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 |
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Sort Codes |
301114 |
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 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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Currency |
US Dollar |
US Dollar |
US Dollar |
US Dollar |
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Consolidated? |
No |
No |
No |
No |
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SALES |
570,516 |
524,604 |
246,403 |
92,367 |
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Export Sales |
534,210 |
468,119 |
224,859 |
80,312 |
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Other operating income |
305 |
127 |
268 |
357 |
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Cost of goods sold |
548,602 |
481,714 |
225,889 |
88,391 |
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GROSS PROFIT |
21,914 |
42,890 |
20,514 |
3,976 |
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General administration costs (-) |
5,244 |
9,080 |
5,590 |
1,511 |
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Wages and Salaries |
8 |
7 |
241 |
578 |
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Net Operating Profit(Loss) |
16,975 |
33,938 |
15,192 |
2,821 |
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Non Trading Income |
40 |
28 |
16 |
4 |
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Other financial income |
223 |
- |
- |
- |
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Total Non Trading Income |
263 |
28 |
16 |
4 |
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Interest expenses & similar (-) |
2,534 |
1,522 |
512 |
251 |
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Other financial charges |
640 |
21 |
- |
- |
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Financial Expenses |
3,174 |
1,543 |
512 |
251 |
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PRE TAX PROFIT |
14,064 |
32,423 |
14,696 |
2,573 |
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Other Taxation |
0 |
0 |
0 |
- |
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Taxation |
4,123 |
9,478 |
2,814 |
- |
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PROFIT AFTER TAX |
9,941 |
22,945 |
11,881 |
2,573 |
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Net Profit |
9,941 |
22,945 |
11,881 |
2,573 |
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Dividends Payable |
5,000 |
12,000 |
0 |
573 |
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RETAINED PROFITS |
4,941 |
10,945 |
11,881 |
2,000 |
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Balance Sheet |
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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Currency |
US Dollar |
US Dollar |
US Dollar |
US Dollar |
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Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
513 |
5 |
28 |
51 |
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Plant, machinery & equipment |
2 |
5 |
10 |
15 |
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Other long term assets |
511 |
- |
- |
- |
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TOTAL CURRENT ASSETS |
102,986 |
83,351 |
75,159 |
19,788 |
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Stocks |
46,102 |
45,375 |
51,685 |
9,948 |
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Trade Debtors |
51,284 |
34,662 |
20,664 |
8,918 |
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Other Receivables |
2,371 |
2,187 |
1,338 |
778 |
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Prepaid expenses |
25 |
21 |
23 |
17 |
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Group Loans |
232 |
62 |
154 |
12 |
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Cash |
1,742 |
1,044 |
1,294 |
117 |
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own shares |
1,230 |
- |
- |
- |
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TOTAL ASSETS |
103,499 |
83,356 |
75,187 |
19,839 |
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TOTAL CURRENT LIABILITIES |
71,359 |
56,359 |
58,306 |
14,839 |
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Trade Creditors |
2,216 |
6,615 |
2,781 |
2,088 |
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Bank Overdraft |
43,642 |
10,044 |
27,928 |
10,055 |
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Taxes |
2,753 |
9,478 |
73 |
14 |
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Due From Group |
9,864 |
1,512 |
1,463 |
1,133 |
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Accruals & deferred income |
12,885 |
28,710 |
26,062 |
976 |
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WORKING CAPITAL |
31,627 |
26,991 |
16,853 |
4,949 |
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TOTAL LONG TERM LIABS |
0 |
175 |
0 |
0 |
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NET ASSETS/(LIABILITIES) |
32,139 |
26,997 |
16,881 |
5,000 |
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SHARE CAPITAL + RESERVES |
32,139 |
26,822 |
16,881 |
5,000 |
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Issued Share Capital |
1,958 |
1,958 |
1,958 |
1,958 |
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Share Premium Accounts |
17 |
17 |
17 |
17 |
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Profit and Loss account |
30,164 |
24,847 |
14,906 |
3,025 |
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SHAREHOLDERS FUNDS |
32,139 |
26,822 |
16,881 |
5,000 |
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CAPITAL EMPLOYED |
32,139 |
26,997 |
16,881 |
5,000 |
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TANGIBLE NET WORTH |
32,139 |
26,822 |
16,881 |
5,000 |
Key Credit Ratios
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Current Ratio |
1.44 |
1.48 |
1.29 |
1.33 |
|
Profit Before Tax |
0.02 |
0.06 |
0.06 |
0.03 |
|
Creditors Days (D.P.O) |
1.47 |
5.01 |
4.49 |
8.62 |
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Quick Ratio |
0.80 |
0.67 |
0.40 |
0.66 |
|
Return on Assets |
13.66 |
38.90 |
19.55 |
12.97 |
|
T.N.W/Total Assets |
0.31 |
0.32 |
0.22 |
0.25 |
|
Return on Capital |
43.76 |
120.10 |
87.06 |
51.46 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
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Equity Gearing |
- |
1.53 |
- |
- |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
Financial Summary
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Turnover |
Turnover increased by more than 9% in the period. Turnover totaled US
Dollar 570,516,000 for the period. |
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Operating Profit |
Totaled US Dollar 16,975,000 In the period prior a profit of US
Dollar 33,938,000 was achieved. |
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Pre Tax |
The subject made a profit of US Dollar 14,064,000 compared with
a profit of US Dollar 32,423,000 in the previous period. |
|
Working Capital |
The company's working capital improved in the period by 17% |
|
Tangible Net Worth |
Net worth increased by 5,317,000 during the period and now stands at
US Dollar 32,139,000 |
|
Fixed Assets |
The subjects fixed assets reduced during the period by US Dollar
3,000 to US Dollar 2,000 and are now 0% of total assets compared
with 0% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities reduced during the period by 55%
and are now 40% of net worth compared with 108% in the previous period |
|
Long Term Liabilities |
Long term liabilities are now 12% of total assets compared with 35% in
the previous period |
RATING EXPLANATIONS
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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 |
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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 |
|
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 |
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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 |
|
<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%)