MIRA
INFORM REPORT
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Report Date : |
14.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SCRAP METAL CLEARANCE COMPANY LIMITED |
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Registered Office : |
Gun Wharf, 124 Wapping High Street, London, E1W 2NJ |
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Country : |
United Kingdom |
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Financials (as on) : |
14.07.2007 |
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Date of Incorporation : |
14.07.1970 |
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Com. Reg. No.: |
00984513 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Property Letting |
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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Maximum Credit Limit ; |
GBP 28,700 |
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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 |
SCRAP METAL CLEARANCE COMPANY LIMITED |
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Ultimate Holding Company |
M AMESBURY |
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Registered Office |
Gun Wharf, 124 Wapping High Street, London, E1W 2NJ |
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There is every confidence this company will prove good for the
assigned Credit Limit |
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Credit Limit |
GBP 28,700 |
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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 201,000 |
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Buying from this company? The Contract Limit is the recommended
aggregate annual value for supply contracts. |
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Significant Event
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PLEASE NOTE
CHANGE OF ADDRESS |
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Heading address locates subject registered office. There is no listing
for subject in the current telephone index. |
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There is no listing for subject in the current telephone index. |
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Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
00984513 |
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Date of Incorporation |
14/07/1970 |
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Registered Office |
Gun Wharf, 124 Wapping High Street, London, E1W 2NJ |
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Date of Last Annual Return to Registry |
31/12/2007 |
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Activities |
Property letting |
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Accounts |
The last filed accounts cover the period to 14/07/2007 and were filed
on 04/09/2007 |
Details of the most recent documents
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Date Received |
Description |
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31/12/2007 |
Annual Return |
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14/07/2007 |
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 |
TONI FERNANDEZ |
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Occupation |
COMPANY DIRECTOR |
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Address |
12, MIDDLE GREEN DODDINGHURST , BRENTWOOD , ESSEX , CM15 0QT |
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Country of Origin |
BRITISH |
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Date of Birth |
22/10/1955 |
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Appointment Date |
31/12/1990 |
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Other Appointments |
SCRAP METAL CLEARANCE COMPANY LIMITED |
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DIRECTOR |
STEVEN MICHAEL GREEN |
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Occupation |
COMPANY SECRETARY/DIRECTOR |
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Address |
AMESBURY MEAD FARM , SEWARD ROAD CHINGFORD , LONDON , E4 7RI |
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Country of Origin |
BRITISH |
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Date of Birth |
16/04/1959 |
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Appointment Date |
31/12/1990 |
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Other Appointments |
S.M.C. PROPERTIES LIMITED, SCRAP METAL CLEARANCE COMPANY LIMITED |
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SECRETARY |
MR STEVEN GREEN |
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Address |
AMESBURY MEAD FARM, SEWARD ROAD CHINGFORD , LONDON , E4 7RI |
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Country of Origin |
BRITISH |
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Date of Birth |
16/04/1959 |
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Appointment Date |
31/12/1990 |
Recently Resigned Directors (last 3)
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None |
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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 |
Property letting |
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Sic Code |
Description |
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7032 |
Management of real estate on a fee or contract basis |
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Staff Employed |
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Bankers |
National Westminster Bank PLC |
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Sort Codes |
602223 |
Financial Data
Profit and Loss
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
14/07/2007 |
14/07/2006 |
14/07/2005 |
14/07/2004 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Units |
units |
units |
units |
units |
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Consolidated? |
No |
No |
No |
No |
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SALES |
7,080 |
7,080 |
6,500 |
6,504 |
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Cost of goods sold |
0 |
0 |
0 |
0 |
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GROSS PROFIT |
7,080 |
7,080 |
6,500 |
6,504 |
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General administration costs (-) |
395 |
340 |
340 |
340 |
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Net Operating Profit(Loss) |
6,685 |
6,740 |
6,160 |
6,164 |
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Total Non Trading Income |
0 |
0 |
0 |
0 |
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Financial Expenses |
0 |
0 |
0 |
0 |
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PRE TAX PROFIT |
6,685 |
6,740 |
6,160 |
6,164 |
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Other Taxation |
0 |
0 |
-17 |
293 |
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Taxation |
1,529 |
406 |
275 |
440 |
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PROFIT AFTER TAX |
5,156 |
6,334 |
5,902 |
5,431 |
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Net Profit |
5,156 |
6,334 |
5,902 |
5,431 |
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Dividends Payable |
0 |
0 |
0 |
0 |
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RETAINED PROFITS |
5,156 |
6,334 |
5,902 |
5,431 |
Balance Sheet
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
14/07/2007 |
14/07/2006 |
14/07/2005 |
14/07/2004 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Units |
units |
units |
units |
units |
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Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
23,731 |
23,731 |
23,731 |
23,731 |
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Land & buildings |
23,731 |
23,731 |
23,731 |
23,731 |
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TOTAL CURRENT ASSETS |
163,480 |
157,423 |
149,258 |
143,048 |
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Group Loans |
163,480 |
157,423 |
148,865 |
142,655 |
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TOTAL ASSETS |
187,211 |
181,154 |
172,989 |
166,779 |
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TOTAL CURRENT LIABILITIES |
6,297 |
5,396 |
3,565 |
3,258 |
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Taxes |
1,289 |
413 |
275 |
293 |
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Other Current Liabilities |
5,008 |
4,983 |
3,290 |
2,965 |
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WORKING CAPITAL |
157,183 |
152,027 |
145,693 |
139,790 |
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TOTAL LONG TERM LIABS |
0 |
0 |
0 |
0 |
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NET ASSETS/(LIABILITIES) |
180,914 |
175,758 |
169,424 |
163,521 |
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SHARE CAPITAL + RESERVES |
180,914 |
175,758 |
169,424 |
163,521 |
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Issued Share Capital |
100 |
100 |
100 |
100 |
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Profit and Loss account |
180,814 |
175,658 |
169,324 |
163,421 |
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SHAREHOLDERS FUNDS |
180,914 |
175,758 |
169,424 |
163,521 |
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CAPITAL EMPLOYED |
180,914 |
175,758 |
169,424 |
163,521 |
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TANGIBLE NET WORTH |
180,914 |
175,758 |
169,424 |
163,521 |
Key Credit Ratios
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Accounts Date |
14/07/2007 |
14/07/2006 |
14/07/2005 |
14/07/2004 |
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Current Ratio |
25.96 |
29.17 |
41.87 |
43.91 |
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Profit Before Tax |
0.94 |
0.95 |
0.95 |
0.95 |
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Quick Ratio |
- |
- |
- |
- |
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Return on Assets |
3.57 |
3.72 |
3.56 |
3.70 |
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T.N.W/Total Assets |
0.97 |
0.97 |
0.98 |
0.98 |
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Return on Capital |
3.70 |
3.83 |
3.64 |
3.77 |
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Working Capital/Sales |
0.22 |
0.21 |
0.22 |
0.21 |
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Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
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Solvency (%) |
3.48 |
3.07 |
2.10 |
1.99 |
Financial Summary
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Turnover |
Turnover decreased by more than 0% in the period. Turnover totalled
GBP 7,080,units for the period. |
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Operating Profit |
Totalled GBP 6,685,units In the period prior a profit of GBP
6,740,units was achieved. |
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Pre Tax |
The subject made a profit of GBP 6,685,units compared with a profit of
GBP 6,740,units in the previous period. |
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Working Capital |
The company's working capital improved in the period by 3% |
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Tangible Net Worth |
Net worth increased by 5,156 during the period and now stands at GBP
180,914,units |
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Fixed Assets |
The subjects fixed assets increased during the period by GBP to GBP
23,731,units and are now 13% of total assets compared with 13% in the
previous period |
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Long Term Liabilities |
Long term liabilities are now 0% of total assets compared with 0% in
the previous period |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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 |
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<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%)