MIRA INFORM REPORT

 

 

 

Report Date :

22.08.2008

 

IDENTIFICATION DETAILS

 

Name :

CORUS INTERNATIONAL TRADING LIMITED

 

 

Registered Office :

30 Millbank, London, SW1P 4WY

 

 

Country :

United Kingdom

 

 

Financials (as on) :

29.03.2008

 

 

Date of Incorporation :

14.10.1992

 

 

Com. Reg. No.:

02755939

 

 

Legal Form :

Private Limited Liability Company (GB)

 

 

Line of Business :

Wholesalers of Steel   

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

GBP   3,100,800

 

 

Status :

Very Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

Company Identification Details    

 

 

Subject Reported on

CORUS INTERNATIONAL TRADING LIMITED

Holding Company

CORUS U K LTD

Ultimate Holding Company

TATA STEEL LIMITED

Trading Address

Hampton Ho, 20 Albert Embankment,LONDON,SE1 7TJ

 

 

Telephone

020-7975-8495

 

 

 

 

There is every confidence this company will prove good for the assigned Credit Limit

 

 

 

 

Credit Limit

GBP   3,100,800

 

 

Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.

 

 

 

 

Contract Limit

GBP   18,728,900

 

 

Buying from this company? The Contract Limit is the recommended aggregate annual value for supply contracts.

 

 

Official Company Data

 

 

Legal Form

Private Limited Liability Company (GB)

Registration Number

02755939

Date of Incorporation

14/10/1992

Registered Office

30 Millbank, London, SW1P 4WY

Date of Last Annual Return to Registry

01/10/2007

Activities

Wholesalers of steel   

Accounts

The last filed accounts cover the period to 29/03/2008 and were filed on 08/08/2008 with Companies House.
Please note that the transition, analysis and publication of these accounts may take up to 10 days to appear on this report.

 

 

Payment Performance

 

Summary

Days Beyond Terms (DBT) for

08/2008

No. Of Experiences

2

No. Of References

1

Current DBT

Unavailable

 

 

DBT Monthly Trend

 

Month

DBT

 

Industry DBT Comparison

 

Upper Quartile

0

Median

8

Lower Quartile

19

 

DBT Table

 

Period

1-3mths

4-6mths

7-12mths

DBT

Exp

Amt

Exp

Amt

Exp

Amt

Within Terms

2

40,000

0

0

0

0

0-30

0

0

0

0

0

0

31-60

0

0

0

0

0

0

61-90

0

0

0

0

0

0

91-120

0

0

0

0

0

0

121-180

0

0

0

0

0

0

180+

0

0

0

0

0

0

Total

2

40,000

0

0

0

0

 

 

 

 

Recently Filed Documents ( view available documents )

Details of the most recent documents

Date Received

Description

01/10/2007

Annual Return

29/03/2008

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

 

 

DIRECTOR

MS  ALLISON LEIGH SCANDRETT

  Occupation

 

  Address

67 WARREN ROAD,  COLLIERS WOOD ,  ,  , SW19 2HY

  Country of Origin

BRITISH

  Date of Birth

29/10/1952

  Appointment Date

//

  Other Appointments

AUTOMOTIVE LASER TECHNOLOGIES LIMITED, BELL & HARWOOD LIMITED, BLASTMEGA LIMITED, BORE SAMSON GROUP LIMITED, BORE STEEL LIMITED, BRITISH GUIDE RAILS LIMITED, BRITISH STEEL CORPORATION LIMITED, BRITISH STEEL DIRECTORS (NOMINEES) LIMITED, BRITISH STEEL EMPLOYEE SHARE OWNERSHIP TRUSTEES LIMITED, BRITISH STEEL ENGINEERING STEELS (EXPORTS) LIMITED, BRITISH STEEL EXPORTS LIMITED, BRITISH STEEL SAMSON LIMITED, BRITISH STEEL SERVICE CENTRES LIMITED, BRITISH STEEL TUBES EXPORTS LIMITED, BRITISH TUBES STOCKHOLDING LIMITED, BS QUEST TRUSTEE LIMITED, BSKH CORPORATE SERVICES (UK) LIMITED, C WALKER & SONS LIMITED, CATNIC LIMITED, COLD DRAWN TUBES LIMITED, CORDOR (C&B) LIMITED, CORUS ALUMINIUM LIMITED, CORUS CNBV INVESTMENTS, CORUS ELECTRICAL LIMITED, CORUS ENGINEERING LIMITED, CORUS ENGINEERING STEELS (UK) LIMITED, CORUS ENGINEERING STEELS HOLDINGS LIMITED, CORUS ENGINEERING STEELS LIMITED, CORUS ENGINEERING STEELS OVERSEAS HOLDINGS LIMITED, CORUS FINANCE LIMITED, CORUS GROUP LIMITED, CORUS HOLDINGS LIMITED, CORUS INTERNATIONAL (OVERSEAS HOLDINGS) LIMITED, CORUS INTERNATIONAL LIMITED, CORUS INTERNATIONAL TRADING LIMITED, CORUS INVESTMENTS LIMITED, CORUS LARGE DIAMETER PIPES LIMITED, CORUS LIAISON SERVICES (INDIA) LIMITED, CORUS METALS LIMITED, CORUS MULTI-METALS LIMITED, CORUS PROPERTIES (GERMANY) LIMITED, CORUS PROPERTY, CORUS QUEST TRUSTEE LIMITED, CORUS RAIL LIMITED, CORUS STAINLESS LIMITED, CORUS STEEL LIMITED, CORUS UK LIMITED, CPN (85) LIMITED, DSRM GROUP PLC , EES GROUP SERVICES LIMITED (only 1st 50 directorships shown) 

DIRECTOR

MR   KIERON    WILKINSON

  Occupation

ACCOUNTANT

  Address

THE OLD RECTORY, HALL DRIVE ,  HAGLEY , STOURBRIDGE , WEST MIDLANDS , DY9 9LQ

  Country of Origin

BRITISH

  Date of Birth

24/10/1951

  Appointment Date

30/06/1995

  Other Appointments

CORUS INTERNATIONAL TRADING LIMITED

DIRECTOR

MR   SCOTT  WILLIAM  LINDSAY

  Occupation

ACCOUNTANT

  Address

15 BAGEHOTT ROAD ,  , DROITWICH , WORCESTERSHIRE , WR9 8UH

  Country of Origin

BRITISH

  Date of Birth

22/04/1964

  Appointment Date

30/06/1995

  Other Appointments

CORUS INTERNATIONAL TRADING LIMITED, INDUSTRIAL STEELS LIMITED

SECRETARY

MS  ALLISON SCANDRETT

  Address

67 WARREN ROAD,  COLLIERS WOOD , LONDON , SW19 2HY

  Country of Origin

BRITISH

  Date of Birth

29/10/1952

  Appointment Date

//

 

 

Recently Resigned Directors (last 3)

 

 

DIRECTOR

MR   COLIN  DAVID  GARDNER

  Occupation

Finance Director

  Address

OLD ORCHARD COTTAGE , BUCKOVER , WOTTON-UNDER-EDGE , GLOUCESTERSHIRE , GL12 8DX

  Country of Origin

British

  Date of Birth

15/03/1960

  Resignation Date

01/06/2007

DIRECTOR

MR   RICHARD  WILLIAM  TRIFFITT

  Occupation

Finance Controller

  Address

HOLLY LODGE , 2 ARNHILL ROAD , CORBY , NORTHAMPTONSHIRE , NN17 3DN

  Country of Origin

British

  Date of Birth

30/03/1947

  Resignation Date

16/05/2002

DIRECTOR

MR   DEREK  NORMAN  BRIGHT

  Occupation

Chartered Accountant

  Address

PINEWOOD 40 ORIENTAL ROAD ,  , WOKING , SURREY , GU22 7AR

  Country of Origin

British

  Date of Birth

21/08/1939

  Resignation Date

30/06/1995

 

 

Share Summary

 

Share Currency:

GBP

 

Principal Shareholders:

Type Of Share

No. of Shares

Value

Voting %age

 

 

 

 

 

CORUS U K LTD

ORD

1,657,665 

1,657,665.00

100.00

 

 

 

 

 

Newport & South Wales Tube Co Ltd (The)

ORD

1.00

0.00

 

 

 

 

 

 

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

 

 

Activities

Wholesalers of steel   

Sic Code

Description

5152

Wholesale of metals and metal ores

Staff Employed

14

Auditors

PricewaterhouseCoopers 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

29/03/2008

30/12/2006

31/12/2005

01/01/2005

Currency

GBP

GBP

GBP

GBP

Units

000

000

000

units

Consolidated?

Yes

Yes

Yes

Yes

SALES

419,238

175,815

331,981

263,804,698

Export Sales

417,216

174,902

314,124

234,385,946

Change in stocks of finished goods & in work in progress

408

-6,303

24,361

-20,980,160

Raw materials, consumables

386,573

169,180

279,844

255,902,805

Subcontractors and other external costs

16,587

4,845

13,077

1,676,422

Cost of Goods Sold

403,568

167,722

317,282

236,599,067

GROSS PROFIT

15,670

8,093

14,699

27,205,631

Wages and Salaries

1,804

1,279

817

1,330,556

Other operating charges

10,028

5,340

10,725

16,675,480

Net Operating Profit(Loss)

3,838

2,867

3,157

9,199,595

Non Trading Income

36

-

-

7,902

Total Non Trading Income

36

51

0

7,902

Other financial charges

736

-

372

715,561

Financial Expenses

736

0

372

715,561

PRE TAX PROFIT

3,138

2,918

2,785

8,491,936

Other Taxation

35

0

1

60,286

Taxation

942

879

836

2,488,793

PROFIT AFTER TAX

2,161

2,039

1,948

5,942,857

Net Profit

2,161

2,039

1,948

5,942,857

Dividends Payable

0

0

0

0

RETAINED PROFITS

2,161

2,039

1,948

5,942,857

 

Balance Sheet

 

Number of Weeks

52

52

52

52

Accounts Date

29/03/2008

30/12/2006

31/12/2005

01/01/2005

Currency

GBP

GBP

GBP

GBP

Units

000

000

000

units

Consolidated?

Yes

Yes

Yes

Yes

TOTAL FIXED ASSETS

0

0

0

0

TOTAL CURRENT ASSETS

46,379

43,855

35,232

71,212,910

 Stocks

10,117

10,526

4,372

29,057,544

 Trade Debtors

14,284

14,820

19,217

31,259,175

 Other Receivables

52

62

7

357,167

 Group Loans

21,926

18,447

11,636

10,537,730

TOTAL ASSETS

46,379

43,855

35,232

71,212,910

TOTAL CURRENT LIABILITIES

29,163

28,753

21,183

60,237,276

 Trade Creditors

6,335

17,943

3,567

43,759,251

 Taxes

942

844

801

2,559,372

 Other Current Liabilities

897

1,240

2,557

871,874

 Due From Group

20,989

8,726

14,258

13,046,779

WORKING CAPITAL

17,216

15,102

14,049

10,975,634

TOTAL LONG TERM LIABS

360

407

1,393

267,000

 Other Long Term Liabilities

360

407

1,393

267,000

NET ASSETS/(LIABILITIES)

17,216

15,102

14,049

10,975,634

SHARE CAPITAL + RESERVES

16,856

14,695

12,656

10,708,634

 Issued Share Capital

1,657

1,657

1,657

1,657,666

 Profit and Loss account

15,199

13,038

10,999

9,050,968

SHAREHOLDERS FUNDS

16,856

14,695

12,656

10,708,634

CAPITAL EMPLOYED

17,216

15,102

14,049

10,975,634

TANGIBLE NET WORTH

16,856

14,695

12,656

10,708,634

 

Key Credit Ratios

 

Accounts Date

29/03/2008

30/12/2006

31/12/2005

01/01/2005

Current Ratio

1.59

1.53

1.66

1.18

Profit Before Tax

0.01

0.02

0.01

0.03

Creditors Days (D.P.O)

5.73

39.05

4.10

67.51

Quick Ratio

1.24

1.16

1.46

0.70

T.N.W/Total Assets

0.36

0.34

0.36

0.15

Return on Capital

18.23

19.32

19.82

77.37

Working Capital/Sales

0.00

0.00

0.00

0.00

Equity Gearing

0.47

0.36

0.09

0.40

Stock Turnover

0.00

0.00

0.00

0.00

Solvency (%)

175.15

198.43

178.38

565.00

 

 

 

Financial Summary

 

Turnover

Turnover increased by 138% in the period. Turnover totalled GBP  419,238,000 for the period.

Operating Profit

Totalled GBP  3,838,000 In the period prior a profit of GBP   2,867,000 was achieved.

Pre Tax

The subject made a profit of GBP  3,138,000 compared with a profit of GBP  2,918,000 in the previous period.

Working Capital

The company's working capital improved in the period by 14%

Tangible Net Worth

Net worth increased by 2,161,000 during the period and now stands at GBP  16,856,000

Long Term Liabilities

The company's long term liabilities reduced during the period by 12% and are now 2% of net worth compared with 3% in the previous period

Long Term Liabilities

Long term liabilities are now 1% of total assets compared with 1% in the previous period

 

Previous Searches on this Company

 

 

Last 3 Months

Last 6 Months

Last 12 Months

0

0

1

 

 

Date

Time

SIC Code

SIC Category

Report Type

09/11/2007

2:50PM

6340

Activities of other transport agencies

Keep-It-Live Comprehensive Report

 

Top of Form

 

Bottom of Form

 

 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.43.38

UK Pound

1

Rs.81.34

Euro

1

Rs.64.55

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions