MIRA
INFORM REPORT
|
Report Date : |
15.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KM PRODUCTS EUROPE LIMITED |
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Registered Office : |
The Forum, Unit B Hanworth Lane, Chertsey, Surrey KT16 9JX |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
27.11.1992 |
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Com. Reg. No.: |
02768670 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Replacement parts and spares for construction machinery and plant
equipment |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
GBP 29,400 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
KM PRODUCTS EUROPE LIMITED |
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Trading Address |
Unit B,Hanworth La Business Pk,CHERTSEY,KT16 9JX |
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Telephone |
01932-571991 |
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Assurances in the form of guarantees may be necessary especially if
the Credit Limit assigned is required to be exceeded |
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Credit Limit |
GBP 29,400 |
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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 362,600 |
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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) |
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Registration Number |
02768670 |
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Date of Incorporation |
27/11/1992 |
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Registered Office |
The Forum, Unit B Hanworth Lane, Chertsey, Surrey KT16 9JX |
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Date of Last Annual Return to Registry |
27/11/2007 |
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Activities |
Replacement parts and spares for construction machinery and plant
equipment |
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Accounts |
The last filed accounts cover the period to 31/12/2006 and were filed
on 19/07/2007 |
Recently Filed Documents
Details of the
most recent documents
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Date Received |
Description |
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27/11/2007 |
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 |
COMPANY DIRECTOR |
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Address |
14, GILLESPIE HOUSE HOLLOWAY DRIVE , VIRGINIA WATER
, SURREY , GU25 4SU |
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Country of Origin |
BRITISH |
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Date of Birth |
23/06/1939 |
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Appointment Date |
27/11/1992 |
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Other Appointments |
KM PRODUCTS EUROPE LIMITED, KMP HOLDINGS LIMITED, ZHI REALISATIONS
LIMITED, ZIV HOLDING AND INVESTMENTS LIMITED |
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
54, DURLESTON PARK DRIVE GREAT BOOKHAM , LEATHERHEAD
, SURREY , KT23 4AJ |
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Country of Origin |
BRITISH |
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Date of Birth |
22/04/1949 |
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Appointment Date |
01/11/1993 |
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Other Appointments |
KM PRODUCTS EUROPE LIMITED |
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
NO 39, JALAN TASEK TAMAN TASEK 80200 , JOHOR BARU
, MALAYSIA , |
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Country of Origin |
MALAYSIAN |
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Date of Birth |
12/11/1942 |
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Appointment Date |
11/09/1997 |
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Other Appointments |
KM PRODUCTS EUROPE LIMITED |
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DIRECTOR |
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Occupation |
CONSULTANT |
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Address |
WIESLIACHER 35 , , 8053 ZURICH , SWITZERLAND
, |
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Country of Origin |
GERMAN |
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Date of Birth |
31/03/1932 |
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Appointment Date |
01/11/1995 |
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Other Appointments |
KM PRODUCTS EUROPE LIMITED, OAKBEST (REALISATIONS)
LIMITED, TOOLS LIMITED, ZHI REALISATIONS LIMITED |
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DIRECTOR |
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Occupation |
ENGINEER |
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Address |
53, HIGH VIEW ROAD , GUILDFORD , SURREY
, GU2 7RT |
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Date of Birth |
28/07/1956 |
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Appointment Date |
01/09/2003 |
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Other Appointments |
KM PRODUCTS EUROPE LIMITED |
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DIRECTOR |
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Occupation |
SALES |
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Address |
15, LOUIS FIELDS FAIRLANDS , GUILDFORD , SURREY
, GU3 3JG |
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Country of Origin |
INDIAN |
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Date of Birth |
10/06/1953 |
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Appointment Date |
01/01/2007 |
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Other Appointments |
KM PRODUCTS EUROPE LIMITED, NUCLEUS GLOBAL LTD |
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DIRECTOR |
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Occupation |
SALES |
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Address |
25, STRATHCONA GARDENS KNAPHILL , WOKING , SURREY
, GU21 2AY |
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Country of Origin |
BRITISH |
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Date of Birth |
11/05/1973 |
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Appointment Date |
01/01/2007 |
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Other Appointments |
KM PRODUCTS EUROPE LIMITED |
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SECRETARY |
MR NIGEL SMITH |
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Address |
54 DURLESTON PARK DRIVE, , GREAT BOOKHAM , SURREY
, KT23 4AJ |
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Country of Origin |
BRITISH |
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Date of Birth |
22/04/1949 |
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Appointment Date |
30/09/2003 |
Recently Resigned Directors (last
3)
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DIRECTOR |
DENNIS LAX |
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Occupation |
COMPANY DIRECTOR |
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Address |
104 , BERESFORD AVENUE , SURBITON , SURREY
, - - |
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Country of Origin |
BRITISH |
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Date of Birth |
27/07/1954 |
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Resignation Date |
30/09/2003 |
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DIRECTOR |
TONY DAVID LAX |
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Address |
42 , SUGDEN ROAD , THAMES DITTON , SURREY
, - - |
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Date of Birth |
05/04/1951 |
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Resignation Date |
30/08/2002 |
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DIRECTOR |
CHIN L CHEN |
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Address |
58 , CASHEW ROAD , 01-01 , SINGAPORE 2367
, - - |
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Country of Origin |
MALAYSIA |
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Resignation Date |
15/08/1995 |
Share Summary
|
Share information is not held for this company. |
Mortgages and Charges
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Total Registered |
6 |
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Total Outstanding |
6 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
21/04/2005 |
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Date Registered |
04/05/2005 |
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Type |
395 |
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Date Created |
21/04/2005 |
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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 |
BARCLAYS BANK PLC RE KM PRODUCTS EUROPE LIMITED, US DOLLAR DEPOSIT
ACCOUNT, ACCOUNT NUMBER 55452000 THE CHARGE CREATES A FIXED CHARGE OVER ALL
THE DEPOSIT(S) REFERRED TO IN THE SCHEDULE TO THE FORM 395 (INCLUDING ALL OR
ANY PART OF THE MONEY PAYABLE PURSUANT TO SUCH DEPOSIT(S) AND THE DEBTS
REPRESENTED THEREBY) TOGETHER WITH ALL INTEREST FROM TIME TO TIME ACCRUING
THEREON IT ALSO CREATES AN ASSIGNMENT BY THE CHARGOR FOR THE PURPOSES OF AND
TO GIVE EFFECT TO THE SECURITY OVER THE RIGHT OF THE CHARGOR TO REQUIRE
REPAYMENT OF SUCH DEPOSIT(S) AND INTEREST THEREON |
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Satisfied? |
No |
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Date Registered |
23/09/2000 |
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Type |
395 |
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Date Created |
21/09/2000 |
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Lender |
BANK LEUMI (UK) 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 |
FIRST FIXED CHARGE ALL MONIES FROM TIME TO TIME HELD TO THE CREDIT OF
THE MORTGAGOR BY THE BANK ON ANY CURRENT DEPOSIT OR OTHER ACCOUNT OR ACCOUNTS
WHICH THE MORTGAGOR MAY NOW OR HEREAFTER HAVE WITH THE BANK OR UNDER ANY
DEPOSIT RECEIPT SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
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Date Registered |
13/12/1995 |
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Type |
395 |
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Date Created |
11/12/1995 |
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Lender |
BANK LEUMI (U.K.) 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 |
LH PREMISES KA UNIT B, THE FORUM, HANWORTH LANE, CHERTSEY, SURREY AND
THE PROCEEDS OF SALE THEREOF SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL
DETAILS |
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Satisfied? |
No |
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Date Registered |
15/04/1993 |
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Type |
395 |
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Date Created |
31/03/1993 |
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Lender |
BANK LEUMI (UK) 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 |
A CHARGE BY WAY OF LEGAL MORTGAGE OVER UNIT D THE FORUM HANWORTH LANE
CHERTSEY SURREY AND ALL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY ANDOR
THE PROCEEDS OF SALE THEREOF A SPECIFIC EQUITABLE CHARGE OVER ALL FREEHOLD
AND LEASEHOLD PROPERTIES ANDOR THE PROCEEDS OF SALE THEREOF, FIXED AND
FLOATING CHARGES OVER UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND
FUTURE INCLUDING GOODWILL, BOOKDEBTS AND THE BENEFITS OF ANY LICENCES SEE THE
MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
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Date Registered |
15/04/1993 |
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Type |
395 |
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Date Created |
31/03/1993 |
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Lender |
BANK LEUMI (UK) 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 |
LH PROPERTY KAS UNIT D THE FORUM,HANWORTH LANE,CHERTSEY,SURREY
FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS
FURNITURE AND EQUIPMENT |
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Satisfied? |
No |
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Date Registered |
15/04/1993 |
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Type |
395 |
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Date Created |
31/03/1993 |
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Lender |
BANK LEUMI (UK) 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 OF THE COMPANY COMPRISED IN THE DEEDS POLICIES SECURITIES
CERTIFICATES ANDOR OTHER DOCUMENTS NOW OR FROM TIME TO TIME DEPOSITED WITH
THE BANK |
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Satisfied? |
No |
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Public Record Information
Summary of
CCJ's/Scottish Decrees
|
There are no unsatisfied CCJs against the company. |
Operations
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Activities |
Replacement parts and spares for construction machinery and plant
equipment |
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Sic Code |
Description |
|
2952 |
Manufacture of machinery for mining, quarrying and construction |
|
Staff Employed |
32 |
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Auditors |
Bessler Hendrie |
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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. |
Financial Data
Profit and Loss
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
|
SALES |
6,702,025 |
6,082,337 |
5,068,685 |
5,346,897 |
|
Other operating income |
19,358 |
- |
- |
- |
|
Cost of goods sold |
4,551,962 |
4,177,888 |
3,377,789 |
3,635,326 |
|
GROSS PROFIT |
2,150,063 |
1,904,449 |
1,690,896 |
1,711,571 |
|
General administration costs (-) |
1,822,021 |
1,577,583 |
1,441,820 |
- |
|
Wages and Salaries |
1,128,063 |
1,013,341 |
932,200 |
954,778 |
|
Depreciation |
55,743 |
52,880 |
56,122 |
78,411 |
|
Net Operating Profit(Loss) |
347,400 |
283,601 |
249,076 |
240,041 |
|
Non Trading Income |
2,855 |
12,344 |
20,973 |
13 |
|
Total Non Trading Income |
2,855 |
12,344 |
20,973 |
13 |
|
Interest expenses & similar (-) |
161,532 |
148,444 |
119,977 |
112,412 |
|
Financial Expenses |
161,532 |
148,444 |
119,977 |
112,412 |
|
PRE TAX PROFIT |
188,723 |
147,501 |
150,072 |
127,642 |
|
Other Taxation |
-3,932 |
-7,928 |
-5,936 |
-8,500 |
|
Taxation |
67,000 |
51,012 |
52,688 |
47,000 |
|
PROFIT AFTER TAX |
125,655 |
104,417 |
103,320 |
89,142 |
|
Net Profit |
125,655 |
104,417 |
103,320 |
89,142 |
|
Dividends Payable |
0 |
110,000 |
100,000 |
0 |
|
RETAINED PROFITS |
125,655 |
-5,583 |
3,320 |
89,142 |
Balance Sheet
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL FIXED ASSETS |
874,198 |
865,625 |
708,930 |
937,291 |
|
Plant, machinery & equipment |
167,219 |
158,646 |
162,051 |
291,558 |
|
Intermediate Assets |
706,979 |
706,979 |
546,879 |
645,733 |
|
TOTAL CURRENT ASSETS |
4,246,538 |
3,825,689 |
3,541,351 |
3,555,187 |
|
Stocks |
2,214,501 |
2,063,714 |
1,813,372 |
1,605,693 |
|
Trade Debtors |
1,403,469 |
1,221,234 |
1,069,277 |
947,483 |
|
Other Receivables |
15,757 |
23,899 |
86,122 |
11,844 |
|
Prepaid expenses |
24,245 |
39,818 |
58,972 |
48,007 |
|
Group Loans |
185,373 |
270,388 |
472,464 |
506,043 |
|
Cash |
403,193 |
206,636 |
41,144 |
436,117 |
|
TOTAL ASSETS |
5,120,736 |
4,691,314 |
4,250,281 |
4,492,478 |
|
TOTAL CURRENT LIABILITIES |
4,009,708 |
3,537,708 |
2,746,718 |
2,766,218 |
|
Trade Creditors |
1,262,036 |
1,049,896 |
1,067,531 |
699,392 |
|
Bank Overdraft |
2,281,988 |
2,071,385 |
1,487,942 |
1,904,752 |
|
Taxes |
106,562 |
78,076 |
75,275 |
80,141 |
|
Due From Group |
267,425 |
261,114 |
22,739 |
- |
|
Accruals & deferred income |
91,697 |
77,237 |
93,231 |
81,828 |
|
WORKING CAPITAL |
236,830 |
287,981 |
794,633 |
788,969 |
|
TOTAL LONG TERM LIABS |
23,370 |
191,603 |
535,977 |
761,994 |
|
Taxation |
23,370 |
27,302 |
35,786 |
41,611 |
|
NET ASSETS/(LIABILITIES) |
1,111,028 |
1,153,606 |
1,503,563 |
1,726,260 |
|
SHARE CAPITAL + RESERVES |
1,087,658 |
962,003 |
967,586 |
964,266 |
|
Issued Share Capital |
857,500 |
857,500 |
857,500 |
857,500 |
|
Profit and Loss account |
230,158 |
104,503 |
110,086 |
106,766 |
|
SHAREHOLDERS FUNDS |
1,087,658 |
962,003 |
967,586 |
964,266 |
|
CAPITAL EMPLOYED |
1,111,028 |
1,153,606 |
1,503,563 |
1,726,260 |
|
TANGIBLE NET WORTH |
1,087,658 |
962,003 |
967,586 |
964,266 |
Key Credit Ratios
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Current Ratio |
1.06 |
1.08 |
1.29 |
1.29 |
|
Profit Before Tax |
0.03 |
0.02 |
0.03 |
0.02 |
|
Creditors Days (D.P.O) |
101.20 |
91.72 |
115.36 |
70.22 |
|
Quick Ratio |
0.51 |
0.50 |
0.63 |
0.70 |
|
Return on Assets |
4.28 |
3.70 |
4.05 |
3.32 |
|
T.N.W/Total Assets |
0.21 |
0.21 |
0.23 |
0.21 |
|
Return on Capital |
16.99 |
12.79 |
9.98 |
7.39 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Equity Gearing |
0.47 |
0.35 |
0.27 |
0.23 |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
|
Solvency (%) |
370.80 |
387.66 |
339.27 |
365.90 |
Financial Summary
|
Turnover |
Turnover increased by more than 10% in the period. Turnover totalled GBP
6,702,025,units for the period. |
|
Operating Profit |
Totalled GBP 347,400,units In the period prior a profit of GBP
283,601,units was achieved. |
|
Pre Tax |
The subject made a profit of GBP 188,723,units compared with a
profit of GBP 147,501,units in the previous period. |
|
Working Capital |
The company's working capital decreased in the period by 18% |
|
Tangible Net Worth |
Net worth increased by 125,655 during the period and now stands at GBP
1,087,658,units |
|
Fixed Assets |
The subjects fixed assets increased during the period by GBP
8,573 to GBP 167,219,units and are now 3% of total assets
compared with 3% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities reduced during the period by 88%
and are now 2% of net worth compared with 20% in the previous period |
|
Long Term Liabilities |
Long term liabilities are now 0% of total assets compared with 4% 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%)