MIRA
INFORM REPORT
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Report Date : |
05.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
METRIS UK LIMITED |
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Registered Office : |
East Midlands Airport, Castle Donington, Derby, DE74 2SAv |
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Country : |
United kingdom |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
23.11.1998 |
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Com. Reg. No.: |
03672188 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Co-Ordination Measuring Machine Manufacturers |
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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
METRIS UK LIMITED |
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Holding Company |
L K Group Ltd |
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Ultimate Holding Company |
Metris NV |
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Trading Address |
ARGOSY ROAD BUILDING 34, EAST MIDLAND INTERNATIONAL
AIRPORT,CASTLE DONINGTON,DERBY,DE74 2SA |
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Telephone |
01332-811349 |
Significant Event
Please note subject is a
subsidiary of Metris NV
Official Company Data
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|
Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
03672188 |
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Date of Incorporation |
23/11/1998 |
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Registered Office |
East Midlands Airport, Castle Donington, Derby, DE74 2SA |
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Date of Last Annual Return to
Registry |
23/11/2007 |
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Activities |
Co-ordination measuring machine manufacturers
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|
Accounts |
The last filed accounts cover the period to 31/12/2005 and
were filed on 06/11/2006 |
Recently Filed Documents
Details
of the most recent documents
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Date
Received |
Description |
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23/11/2007 |
Annual Return |
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31/12/2005 |
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 |
CHIEF EXECUTIVE OFFICER |
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Address |
MERELLAAN 3 3210, LINDEN , BELGIUM
, |
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Country of Origin |
BELGIAN |
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Date of Birth |
21/11/1970 |
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Appointment Date |
17/01/2006 |
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Other Appointments |
3D SCANNERS LIMITED, LK GROUP LIMITED, LK
INVESTMENTS LIMITED, METRIS UK LIMITED |
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SECRETARY |
LIEVEN DE JONGE |
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Address |
BREM STRAAT 12, 3001 HEVERLEE |
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Country of Origin |
BELGIUM |
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Date of Birth |
13/01/1966 |
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Appointment Date |
17/01/2006 |
Recently Resigned Directors (last
3)
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DIRECTOR |
ALEXANDER CHISHOLM |
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Occupation |
COMPANY DIRECTOR |
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Address |
7 , NORTH DRIVE , NOTTINGHAM , - - |
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Country of Origin |
BRITISH |
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Date of Birth |
18/02/1950 |
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Resignation Date |
17/01/2006 |
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DIRECTOR |
ROLAND JOHN DENNING |
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Occupation |
COMPANY DIRECTOR |
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Address |
SWALLOWFIELD GRANGE , THE STREET , READING
, - - |
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Country of Origin |
BRITISH |
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Date of Birth |
18/09/1946 |
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Resignation Date |
17/01/2006 |
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DIRECTOR |
CHARLES EDGINGTON |
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Occupation |
CEO |
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Address |
7 , THE GRANGE , ASHBY DE LA ZOUCH , LEICS
, - - |
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Country of Origin |
BRITISH |
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Date of Birth |
08/07/1957 |
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Resignation Date |
17/01/2006 |
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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LK GROUP LTD |
ORD |
99 |
99.00 |
100.00 |
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Mortgages and Charges
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Total Registered |
5 |
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Total Outstanding |
4 |
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Total Satisfied |
1 |
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Most Recent Mortgage |
12/12/2007 |
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Date Registered |
28/12/2007 |
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Type |
395 |
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Date Created |
12/12/2007 |
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Lender |
KBC BANK NV, LONDON BRANCH |
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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? |
No |
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Date Registered |
29/11/2006 |
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Type |
395 |
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Date Created |
27/11/2006 |
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Lender |
NATIONAL WESTMINSTER 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 DEPOSITS NOW AND IN THE FUTURE CREDITED TO ACCOUNT
DESIGNATION 67176704 WITH THE BANK AND ANY DEPOSIT OR ACCOUNT OF ANY OTHER
DESCRIPTION OR DESIGNATION WHICH DERIVES IN WHOLE OR IN PART FROM SUCH
DEPOSITS OR ACCOUNT |
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Satisfied? |
No |
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Date Registered |
03/11/2006 |
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Type |
395 |
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Date Created |
20/10/2006 |
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Lender |
FORTIS BANK SANV. UK BRANCH |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED
INSTRUMENT CREATING OR EVIDENCING THE CHARGE |
|
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? |
No |
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Date Registered |
27/09/2006 |
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Type |
395 |
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Date Created |
14/09/2006 |
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Lender |
KBC BANK NV,LONDON BRANCH |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED
INSTRUMENT CREATING OR EVIDENCING THE CHARGE |
|
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 |
|
Satisfied? |
No |
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Date Registered |
08/01/1999 |
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Type |
395 |
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Date Created |
30/12/1998 |
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Lender |
NATIONAL WESTMINSTER BANK PLC |
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Secured On |
ALL MONIES DUE OF TO BECOME DUE FROM THE COMPANY (FORMERLY
KNOWN AS STRAWCLOSE LIMITED) TO THE CHARGEE UNDER OR PURSUANT TO ANY OF THE
FINANCING DOCUMENTS |
|
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 |
Public Record Information
Summary
of CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
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Activities |
Co-ordination measuring machine manufacturers
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Sic Code |
Description |
|
2940 |
Manufacture of machine tools |
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Staff Employed |
106 |
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Auditors |
KPMG LLP |
|
Auditors Notes |
No Qualification. The Auditors have expressed a clean
opinion (i.e. unqualified with no referrals) on the latest accounts. |
Financial Data
Profit and Loss
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2005 |
31/12/2004 |
31/12/2003 |
31/12/2002 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
000 |
000 |
000 |
000 |
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Consolidated? |
No |
No |
No |
No |
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SALES |
11,624 |
10,652 |
14,179 |
13,435 |
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Export Sales |
9,252 |
8,287 |
- |
9,389 |
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Cost of goods sold |
9,208 |
8,949 |
10,931 |
10,644 |
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GROSS PROFIT |
2,416 |
1,703 |
3,248 |
2,791 |
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Other Expenses |
1,207 |
1,340 |
1,415 |
1,559 |
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General administration costs (-) |
1,623 |
2,229 |
2,396 |
1,753 |
|
Wages and Salaries |
4,024 |
4,307 |
4,876 |
4,664 |
|
Depreciation |
818 |
829 |
899 |
838 |
|
Net Operating Profit(Loss) |
-414 |
-1,866 |
-563 |
-521 |
|
Total Non Trading Income |
0 |
117 |
26 |
267 |
|
Interest expenses & similar (-) |
2,443 |
1,679 |
1,428 |
1,587 |
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Other financial charges |
283 |
- |
- |
- |
|
Financial Expenses |
2,726 |
1,679 |
1,428 |
1,587 |
|
PRE TAX PROFIT |
-3,140 |
-3,428 |
-1,965 |
-1,841 |
|
PROFIT AFTER TAX |
-3,140 |
-3,428 |
-1,970 |
-1,841 |
|
Net Loss |
3,140 |
3,428 |
1,970 |
1,841 |
|
Dividends Payable |
0 |
0 |
0 |
0 |
|
RETAINED PROFITS |
- |
- |
- |
- |
Balance Sheet
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2005 |
31/12/2004 |
31/12/2003 |
31/12/2002 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
000 |
000 |
000 |
000 |
|
Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
8,953 |
9,608 |
10,366 |
11,000 |
|
Plant, machinery & equipment |
326 |
319 |
387 |
386 |
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Intangible Assets |
8,627 |
9,289 |
9,951 |
10,614 |
|
TOTAL CURRENT ASSETS |
6,120 |
6,309 |
6,650 |
7,379 |
|
Stocks |
1,578 |
1,513 |
1,215 |
1,189 |
|
Trade Debtors |
1,152 |
681 |
1,084 |
737 |
|
Other Receivables |
99 |
179 |
180 |
124 |
|
Prepaid expenses |
111 |
99 |
110 |
92 |
|
Group Loans |
3,153 |
3,789 |
3,212 |
3,612 |
|
Cash |
27 |
48 |
849 |
1,625 |
|
TOTAL ASSETS |
15,073 |
15,917 |
17,016 |
18,379 |
|
TOTAL CURRENT LIABILITIES |
6,886 |
6,825 |
8,901 |
9,827 |
|
Trade Creditors |
1,949 |
2,098 |
2,167 |
1,566 |
|
Bank Overdraft |
3,055 |
2,622 |
116 |
655 |
|
Taxes |
207 |
151 |
295 |
263 |
|
Other Current Liabilities |
1,670 |
1,909 |
- |
2,505 |
|
Due From Group |
5 |
45 |
4,858 |
4,838 |
|
WORKING CAPITAL |
-766 |
-516 |
-2,251 |
-2,448 |
|
TOTAL LONG TERM LIABS |
25,310 |
23,075 |
18,338 |
16,805 |
|
Debts to group companies |
25,310 |
23,075 |
16,830 |
15,368 |
|
NET ASSETS/(LIABILITIES) |
8,187 |
9,092 |
8,115 |
8,552 |
|
SHARE CAPITAL + RESERVES |
-17,123 |
-13,983 |
-10,223 |
-8,253 |
|
Issued Share Capital |
100 |
100 |
- |
- |
|
Profit and Loss account |
-17,223 |
-14,083 |
-10,323 |
-8,353 |
|
SHAREHOLDERS FUNDS |
-17,123 |
-13,983 |
-10,223 |
-8,253 |
|
CAPITAL EMPLOYED |
8,187 |
9,092 |
8,115 |
8,552 |
|
TANGIBLE NET WORTH |
-25,750 |
-23,272 |
-20,174 |
-18,867 |
Key Credit Ratios
|
Accounts Date |
31/12/2005 |
31/12/2004 |
31/12/2003 |
31/12/2002 |
|
Current Ratio |
0.89 |
0.92 |
0.75 |
0.75 |
|
Profit Before Tax |
-0.27 |
-0.32 |
-0.14 |
-0.14 |
|
Creditors Days (D.P.O) |
77.26 |
85.57 |
72.36 |
53.70 |
|
Quick Ratio |
0.66 |
0.70 |
0.61 |
0.63 |
|
Return on Assets |
-48.71 |
-51.72 |
-27.81 |
-23.71 |
|
T.N.W/Total Assets |
-1.71 |
-1.46 |
-1.19 |
-1.03 |
|
Return on Capital |
-38.35 |
-37.70 |
-24.21 |
-21.53 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Equity Gearing |
-0.01 |
-0.01 |
-0.01 |
-0.01 |
|
Stock Turnover |
0.00 |
0.00 |
- |
- |
|
Solvency (%) |
-125.03 |
-128.48 |
-135.02 |
-141.16 |
Financial Summary
|
Turnover |
Turnover increased by more than 9% in the period. Turnover
totalled GBP 11,624,000 for the period. |
|
Operating Loss |
Totalled GBP -414,000 In the period prior a loss of
GBP 1,866,000 was achieved. |
|
Pre Tax |
The subject made a loss of GBP 3,140,000 compared
with a loss of GBP 3,428,000 in the previous period. |
|
Working Capital |
The company's working capital deficiency increased in the
period and now stands at GBP 766,000 |
|
Tangible Net Worth |
Net worth reduced by 2,478,000 during the period and now
stands at GBP -25,750,000 |
|
Fixed Assets |
The subjects fixed assets increased during the period by
GBP 7,000 to GBP 326,000 and are now 2% of total assets compared
with 2% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities increased during the
period by 10% and are now -98% of net worth compared with -99% in the
previous period |
|
Long Term Liabilities |
Long term liabilities are now 168% of total assets
compared with 145% 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%)