MIRA INFORM REPORT

 

 

 

Report Date :

05.12.2008

 

IDENTIFICATION DETAILS

 

Name :

J.W. MARTIN, LIMITED 

 

 

Registered Office :

C/O J W Martin Ltd, Prince Regent Road, Castlereagh, Belfast, BT5 6QR

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.04.2008

 

 

Date of Incorporation :

11.03.1940

 

 

Legal Form :

Private Limited with Share Capital

 

 

Line of Business :

Manufacture of Cordage, Rope, Twine and Netting

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

[£] 75,000

 

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

Name of the company   

 

J.W. MARTIN, LIMITED 

Number                        NI001429

 

company summary

 

 

Phone

02890702021

Type

Private limited with Share Capital

 

Address

C/O J W MARTIN LTD,
PRINCE REGENT ROAD,
CASTLEREAGH,
BELFAST, BT5 6QR

Company Status

Active - Accounts Filed

 

Postcode

BT5 6QR

Incorporated Date

11/03/1940

 

Todays Limit [£]

 75,000

 

 

 

Active CCJ's

0

 

 

 

Value of CCJ's [£]

£0

 

 

 

Number Of Writs

0

 

 

 

 

Current Directors

2

 

 

Total Directorships

2

 

 

 

Trading to Date

30/04/08

30/04/07

30/04/06

 

Turnover

-

-

-

 

Shareholder Funds

£964,793

£947,376

£690,241

 

Employees

-

-

-

 

 

Trends

 

 

 

Profitability

 

 

Liquidity

 

 

Shareholders Funds

 

 

company information

 

 

Registered Address

Trading Address

 

Telephone Number

02890702021

Telephone Number

028 90702021

 

TPS

N

TPS

 

 

Address

Address

 

C/O J W MARTIN LTD
PRINCE REGENT ROAD
CASTLEREAGH
BELFAST, BT5 6QR

c/o J W Martin Ltd
Prince Regent Road
Castlereagh
Belfast.
BT5 6QR

 

 

Web Address

jwmartin.co.uk

Incorporation Date

11/03/1940

 

Type of Accounts

 

Filing Date of Accounts

10/07/2008

 

Company Type

Private Limited With Share Capital

Date of Latest Accounts

30/04/2008

 

Annual Return

25/07/2006

 

 

 

 

 

Industry:

 

Jute.

 

 

 

 

 

SIC Code

Description

 

1752

Manufacture Of Cordage, Rope, Twine & Netting

 

 

Mortgage Charges

 

Outstanding

0

Satisfied

0

 

 

Shareholders

 

Share Capital

1260

Currency

Gbp

 

 

Secondary Industry Code Details

 

 

SIC Code

Description

 

1752

Manufacture Of Cordage, Rope, Twine & Netting

 

 

Shareholders Details

 

 

Name

Shares

 

David R Martin

1,250 Ord £1 Shares

 

D R Martin (deceased)

10 Ord £1 Shares

 

 

Address

Telephone Number

TCPS

 

PRINCE REGENT RD BELFAST COUNTY ANTRIM BT5 6QR

02890702021

N

 

c/o J W Martin Ltd Prince Regent Road Castlereagh Belfast. BT5 6QR

 

 

 

accounts

PROFIT & LOSS

 

 

 

Annual Accounts

05/07-04/08

Change (%)

05/06-04/07

Change (%)

05/05-04/06

 

 

Months

12

-

12

-

12

 

 

Currency

GBP

-

GBP

-

GBP

 

 

Consolidated A/cs

N

-

N

-

N

 

 

Turnover

-

-

-

-

-

 

 

Export

-

-

-

-

-

 

 

Cost of Sales

-

-

-

-

-

 

 

Gross Profit

-

-

-

-

-

 

 

Wages & Salaries

-

-

-

-

-

 

 

Directors Emoluments

-

-

-

-

-

 

 

Operating Profits

-

-

-

-

-

 

Depreciation

42,128

64.6 %

25,589

-19.9 %

31,940

 

 

Audit Fees

-

-

-

-

-

 

 

Interest Payments

-

-

-

-

-

 

 

Pre Tax Profit

-

-

-

-

-

 

 

Taxation

-

-

-

-

-

 

 

Profit After Tax

-

-

-

-

-

 

 

Dividends Payable

-

-

-

-

-

 

 

Retained Profits

-

-

-

-

-

 

BALANCE SHEET

 

 

Annual Accounts

05/07-04/08

Change (%)

05/06-04/07

Change (%)

05/05-04/06

 

Tangible Assets

906,828

-4.1 %

945,956

32.8 %

712,105

 

 

Intangible Assets

-

-

-

-

-

 

Total Fixed Assets

906,828

-4.1 %

945,956

32.8 %

712,105

 

Total Current Assets

621,487

-6.3 %

662,948

13.9 %

582,265

 

Trade Debtors

337,675

20.2 %

281,026

-

-

 

Stocks & WIP

283,074

-22.7 %

366,000

16.1 %

315,271

 

Cash

-

-100.0 %

184

-

-

 

Other Debtors

738

-95.3 %

15,738

-94.1 %

266,994

 

Increase In Cash

-184

-200.0 %

184

135.7 %

-516

 

 

Miscellaneous Current Assets

-

-

-

-

-

 

Total Assets

1,528,315

-5.0 %

1,608,904

24.3 %

1,294,370

 

Total Current Liabilities

560,313

-12.8 %

642,378

19.5 %

537,566

 

Trade Creditors

560,313

-12.8 %

642,378

-

-

 

 

Bank Loans & Overdrafts

-

-

-

-

-

 

 

Other Short Term Fin

-

-

-

-

-

 

Miscellaneous Current Liabilities

-

-

-

-100.0 %

537,566

 

 

Other Long Term Fin

-

-

-

-

-

 

Total Long Term Liabilities

3,209

-83.2 %

19,150

-71.2 %

66,563

 

Bank Loans & Overdrafts & LTL

3,209

-83.2 %

19,150

-71.2 %

66,563

 

Total Liabilities

563,522

-14.8 %

661,528

9.5 %

604,129

 

Net Assets

964,793

1.8 %

947,376

37.3 %

690,241

 

Working Capital

61,174

197.4 %

20,570

-54.0 %

44,699

 

CAPITALS & RESERVES

 

 

Annual Accounts

05/07-04/08

Change (%)

05/06-04/07

Change (%)

05/05-04/06

 

Called up Share Capital

1,260

-

1,260

-

1,260

 

P&L Account Reserve

443,052

4.1 %

425,635

0.5 %

423,500

 

Sundry Reserves

3,740

-

3,740

-

3,740

 

Revaluation Reserve

516,741

-

516,741

97.4 %

261,741

 

Shareholder Funds

964,793

1.8 %

947,376

37.3 %

690,241

 

Net Worth

964,793

1.8 %

947,376

37.3 %

690,241

 

MISCELLANEOUS

 

 

Annual Accounts

05/07-04/08

Change (%)

05/06-04/07

Change (%)

05/05-04/06

 

 

Net Cashflow from Operations

-

-

-

-

-

 

 

Net Cashflow before Financing

-

-

-

-

-

 

 

Net Cashflow from Financing

-

-

-

-

-

 

 

Contingent Liability

NO

-

NO

-

NO

 

Capital Employed

968,002

0.2 %

966,526

27.7 %

756,804

 

 

No of Employees

-

-

-

-

-

 

     

Auditors

 

 

AuditQualification

No Adverse Comments

 

Bankers

 

 

BankBranchCode

 

 

 

RATIOS

 

 

Annual Accounts

05/07-04/08

05/06-04/07

05/05-04/06

 

 

Pre-tax profit margin %

-

-

-

 

Current ratio

1.11

1.03

1.08

 

Sales/Net Working Capital

-

-

0.00

 

Gearing %

0.3 %

2.0 %

9.6 %

 

Equity in %

63.1 %

58.9 %

53.3 %

 

 

Creditor Days

-

-

-

 

 

Debtor Days

-

-

-

 

Liquidity/Acid Test

0.60

0.46

0.50

 

Return On Capital Employed %

-

-

0.0 %

 

Return On Total Assets Employed %

-

-

0.0 %

 

Current Debt Ratio %

0.6 %

0.7 %

0.8 %

 

Total Debt Ratio %

0.6 %

0.7 %

0.9 %

 

 

Stock Turnover Ratio %

-

-

-

 

Return on Net Assets Employed %

-

-

0.0 %

 

 

group structure

 

No group structure for this company.

 

 

 

Status History

 

Date

Description

No Status History

 

Event History

 

Date

Description

16/07/2008

New Accounts Filed

30/04/2008

New Company Secretary Mrs B. Dykes Appointed

29/10/2007

Change In Reg.office

01/10/2007

New Accounts Filed

05/10/2006

New Accounts Filed

05/09/2006

New Board Member (david Rmartin) Appointed

27/10/2005

New Accounts Filed

02/03/2005

New Accounts Filed

15/09/2004

Annual Returns

07/08/2004

New Accounts Filed

12/06/2004

Data Refresh

 

directors

 

 

Name

Barbara  Dykes

 

 

Address

30 Magheraconluce Road

 

 

 

Dromore

 

 

BT25 1EE

 

Officers Title

Ms

Date Of Birth

 

 

Honours

 

Present Appointments

1

 

Appointment Date

 

Function

Company Secretary

 

 

 

 

 

 

 

Name

David R Martin

 

 

Address

27 Knockdene Park North

 

 

 

Belfast

 

 

BT5 7AA

 

Officers Title

Mr

Date Of Birth

28/05/1945

 

Honours

 

Present Appointments

1

 

Appointment Date

 

Function

Director

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.

UK Pound

1

Rs.

Euro

1

Rs.

 

 

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