MIRA
INFORM REPORT
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Report Date : |
03.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
CORRIE MACCOLL & SON LIMITED |
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Registered Office : |
Bishopsgate House, 5-7 Folgate Street, London, E1 6BX |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
07.05.1919 |
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Com. Reg. No.: |
00154915 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Wholesalers of Synthetic Rubber |
RATING &
COMMENTS
|
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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Maximum Credit Limit : |
GBP 669,400 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
CORRIE MACCOLL & SON LIMITED |
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Holding Company |
DELI-MIJ HOLDINGS LTD |
|
Ultimate Holding Company |
NVDU Acquisition B.V. |
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Trading Address |
5 Folgate St,LONDON,E1 6BX |
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Telephone |
020-7426-1900 |
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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 669,400 |
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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 5,429,500 |
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Buying from this company? The Contract Limit is the
recommended aggregate annual value for supply contracts. |
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Official Company Data
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|
Legal Form |
Private Limited Liability Company (GB) |
|
Registration Number |
00154915 |
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Date of Incorporation |
07/05/1919 |
|
Registered Office |
Bishopsgate House, 5-7 Folgate Street, London, E1 6BX |
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Date of Last Annual Return to
Registry |
29/12/2007 |
|
Activities |
Wholesalers of synthetic rubber |
|
Accounts |
The last filed accounts cover the period to 31/03/2007 and
were filed on 17/10/2007 |
Recently Filed Documents
Details
of the most recent documents
|
Date
Received |
Description |
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29/12/2007 |
Annual Return |
|
31/03/2007 |
Financial Statement / Set of Accounts |
|
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 |
COMPANY DIRECTOR |
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Address |
EMMALAAN 12 , ROTTERDAM , 3051 JG
, NETHERLANDS , |
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Country of Origin |
DUTCH |
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Date of Birth |
27/02/1949 |
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Appointment Date |
28/12/1990 |
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Other Appointments |
CORRIE MACCOLL & SON LIMITED, CORRIE MACCOLL
TRADING LIMITED, DELI-MIJ HOLDINGS LIMITED |
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
25, KINGS ROAD SOUTH BENFLEET , BENFLEET
, ESSEX , SS7 1JP |
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Country of Origin |
BRITISH |
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Date of Birth |
17/08/1929 |
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Appointment Date |
28/12/1990 |
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Other Appointments |
CORRIE MACCOLL & SON LIMITED, CORRIE MACCOLL
TRADING LIMITED, DELI-MIJ HOLDINGS LIMITED, THE ASSOCIATION OF THE
INTERNATIONAL RUBBER TRADE LIMITED, THE RUBBER TRADE ASSOCIATION OF
EUROPE |
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DIRECTOR |
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Occupation |
COMMODITY TRADER |
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Address |
27A, CLOOT DROVE CROWLAND , PETERBOROUGH
, PE6 0JG |
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Country of Origin |
BRITISH |
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Date of Birth |
25/10/1955 |
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Appointment Date |
10/05/1996 |
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Other Appointments |
CORRIE MACCOLL & SON LIMITED, CORRIE MACCOLL
TRADING LIMITED, DELI-MIJ HOLDINGS LIMITED |
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DIRECTOR |
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Occupation |
DIRECTOR EVP |
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Address |
BURG DE VILLENEUVESINGEL 17 , , ROTTERDAM
, NETHERLANDS , |
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Country of Origin |
DUTCH |
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Date of Birth |
01/11/1961 |
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Appointment Date |
30/04/2001 |
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Other Appointments |
CORRIE MACCOLL & SON LIMITED |
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DIRECTOR |
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Occupation |
TRADER |
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Address |
16, LAKESIDE BROOK LANE , SNODLAND , KENT
, ME6 5LD |
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Country of Origin |
BRITISH |
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Date of Birth |
21/11/1947 |
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Appointment Date |
01/11/2007 |
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Other Appointments |
CORRIE MACCOLL & SON LIMITED |
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SECRETARY |
MR BARRY RYLANDS |
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Address |
94 MILTON WAY, HOUGHTON REGIS , DUNSTABLE
, LU5 5UE |
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Country of Origin |
BRITISH |
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Date of Birth |
10/11/1946 |
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Appointment Date |
02/07/1999 |
Recently Resigned Directors (last
3)
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DIRECTOR |
MICHAEL DAVID BENWELL |
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Occupation |
COMMODITY TRADER |
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Address |
10 , UPPER SHIRLEY ROAD , CROYDON
, - - |
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Country of Origin |
BRITISH |
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Date of Birth |
08/07/1943 |
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Resignation Date |
16/07/2003 |
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DIRECTOR |
MR LEE J MUENZEN |
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Occupation |
COMMODITY TRADER |
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Address |
17 , BATTERY PLACE , NEW YORK NY 10004-1204
, USA , - - |
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Country of Origin |
AMERICAN |
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Date of Birth |
23/10/1942 |
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Resignation Date |
31/10/2002 |
Share Summary
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Share Currency: |
GBP |
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
%age |
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DELI-MIJ HOLDINGS LTD |
ORD |
326,000 |
326,000.00 |
100.00 |
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DELI-MIJ HOLDINGS LTD |
|
199,998 |
199,998.00 |
100.00 |
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Deli Mij Holdings Ltd & A Kloppenburg |
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1 |
1.00 |
0.00 |
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Mr C G Findlay |
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1 |
1.00 |
0.00 |
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Mortgages and Charges
There
are no mortgages
Public Record Information
Summary
of CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
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Activities |
Wholesalers of synthetic rubber |
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Sic Code |
Description |
|
5155 |
Wholesale of chemical products |
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Staff Employed |
12 |
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Auditors |
Audit Assure |
|
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 |
National Westminster Bank PLC P.O. Box 192 |
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Sort Codes |
560018 |
Financial Data
|
Profit and Loss |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
|
SALES |
45,562,390 |
44,985,279 |
40,514,537 |
26,591,854 |
|
Export Sales |
2,295,191 |
1,869,680 |
8,342,873 |
9,563,486 |
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Cost of goods sold |
42,730,644 |
42,721,956 |
38,149,405 |
25,447,572 |
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GROSS PROFIT |
2,831,746 |
2,263,323 |
2,365,132 |
1,144,282 |
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General administration costs (-) |
1,107,916 |
1,228,561 |
1,080,971 |
238,604 |
|
Wages and Salaries |
709,760 |
681,857 |
639,036 |
401,877 |
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Depreciation |
7,178 |
12,685 |
13,329 |
13,609 |
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Net Operating Profit(Loss) |
1,723,830 |
1,034,762 |
1,284,161 |
905,678 |
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Non Trading Income |
63,146 |
11,828 |
16,903 |
20,119 |
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Other financial income |
102,000 |
100,000 |
- |
- |
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Total Non Trading Income |
165,146 |
111,828 |
16,903 |
36,166 |
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Interest expenses & similar (-) |
69,602 |
114,548 |
49,166 |
52,699 |
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Other financial charges |
576,268 |
408,905 |
190,328 |
- |
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Financial Expenses |
645,870 |
523,453 |
239,494 |
52,699 |
|
PRE TAX PROFIT |
1,243,106 |
623,137 |
1,061,570 |
889,145 |
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Other Taxation |
1,454 |
228,121 |
2,948 |
0 |
|
Taxation |
368,006 |
0 |
275,547 |
268,581 |
|
PROFIT AFTER TAX |
873,646 |
395,016 |
783,075 |
620,564 |
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Net Profit |
873,646 |
395,016 |
783,075 |
620,564 |
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Dividends Payable |
0 |
0 |
0 |
0 |
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RETAINED PROFITS |
873,646 |
395,016 |
783,075 |
620,564 |
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Balance Sheet
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL FIXED ASSETS |
209,343 |
521,027 |
45,550 |
56,902 |
|
Plant, machinery & equipment |
15,329 |
14,013 |
20,536 |
31,888 |
|
Intermediate Assets |
25,014 |
25,014 |
25,014 |
25,014 |
|
Other long term assets |
169,000 |
482,000 |
- |
- |
|
TOTAL CURRENT ASSETS |
14,544,547 |
14,991,702 |
14,234,804 |
9,731,690 |
|
Stocks |
4,165,089 |
3,994,378 |
3,834,947 |
2,031,157 |
|
Trade Debtors |
9,690,610 |
10,647,797 |
9,593,790 |
7,274,783 |
|
Other Receivables |
92,689 |
102,291 |
754,758 |
404,262 |
|
Prepaid expenses |
23,202 |
37,271 |
39,057 |
20,849 |
|
Cash |
385,157 |
22,165 |
12,252 |
639 |
|
Tax Recoverable |
187,800 |
187,800 |
- |
- |
|
TOTAL ASSETS |
14,753,890 |
15,512,729 |
14,280,354 |
9,788,592 |
|
TOTAL CURRENT LIABILITIES |
9,324,436 |
10,622,921 |
10,250,562 |
6,541,875 |
|
Trade Creditors |
284,085 |
347,409 |
233,313 |
308,050 |
|
Bank Overdraft |
180,585 |
732,083 |
1,250,404 |
1,378,894 |
|
Taxes |
338,855 |
82,754 |
159,149 |
163,382 |
|
Due From Group |
8,358,740 |
9,364,702 |
8,467,891 |
4,604,228 |
|
Accruals & deferred income |
162,171 |
44,233 |
73,594 |
49,412 |
|
WORKING CAPITAL |
5,220,111 |
4,368,781 |
3,984,242 |
3,189,815 |
|
TOTAL LONG TERM LIABS |
0 |
0 |
0 |
0 |
|
NET ASSETS/(LIABILITIES) |
5,429,454 |
4,889,808 |
4,029,792 |
3,246,717 |
|
SHARE CAPITAL + RESERVES |
5,429,454 |
4,889,808 |
4,029,792 |
3,246,717 |
|
Issued Share Capital |
526,000 |
526,000 |
526,000 |
526,000 |
|
Profit and Loss account |
4,903,454 |
4,363,808 |
3,503,792 |
2,720,717 |
|
SHAREHOLDERS FUNDS |
5,429,454 |
4,889,808 |
4,029,792 |
3,246,717 |
|
CAPITAL EMPLOYED |
5,429,454 |
4,889,808 |
4,029,792 |
3,246,717 |
|
TANGIBLE NET WORTH |
5,429,454 |
4,889,808 |
4,029,792 |
3,246,717 |
Key Credit Ratios
|
Accounts Date |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
|
Current Ratio |
1.56 |
1.41 |
1.39 |
1.49 |
|
Profit Before Tax |
0.03 |
0.01 |
0.03 |
0.03 |
|
Creditors Days (D.P.O) |
2.43 |
2.97 |
2.23 |
4.42 |
|
Quick Ratio |
1.11 |
1.04 |
1.01 |
1.18 |
|
Return on Assets |
8.54 |
4.15 |
7.45 |
9.11 |
|
T.N.W/Total Assets |
0.37 |
0.32 |
0.28 |
0.33 |
|
Return on Capital |
22.90 |
12.74 |
26.34 |
27.39 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
|
Solvency (%) |
171.74 |
217.25 |
254.37 |
201.49 |
|
|
Financial Summary
|
Turnover |
Turnover decreased by more than NaN% in the period.
Turnover totalled GBP 45,562,390,units for the period. |
|
Operating Profit |
Totalled GBP 1,723,830,units In the period prior a
profit of GBP 1,034,762,units was achieved. |
|
Pre Tax |
The subject made a profit of GBP 1,243,106,units
compared with a profit of GBP 623,137,units in the previous period. |
|
Working Capital |
The company's working capital improved in the period by
NaN% |
|
Tangible Net Worth |
Net worth increased by NaN during the period and now
stands at GBP 5,429,454,units |
|
Fixed Assets |
The subjects fixed assets increased during the period by
GBP NaN to GBP 15,329,units and are now NaN% of total assets
compared with 0% in the previous period |
|
Long Term Liabilities |
Long term liabilities are now 0% of total assets compared
with 0% 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%)