MIRA
INFORM REPORT
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Report Date : |
11.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
MIX TELEMATICS UK LIMITED |
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formerly Known as : |
CI OMNIBRIDGE LIMITED |
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Registered Office : |
6180 Knight's Court, Solihull Parkway, Birmingham, B37 7YB |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
15.11.2006 |
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Legal Form : |
Private limited with Share
Capital |
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Line of Business : |
The provision of information and related services for mobile assets. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
[£] 75,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name of the company
MIX TELEMATICS UK LIMITED
Number 05998818
company summary
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Phone |
01217175360 |
Type |
Private limited with Share
Capital |
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Address |
6180 KNIGHT'S COURT, |
Company Status |
Active - Accounts Filed |
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Postcode |
B37 7YB |
Incorporated Date |
15/11/2006 |
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Todays
Limit [£] 75,000
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Active CCJ's |
0 |
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Value of CCJ's [£] |
£0 |
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Number Of Writs |
0 |
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Current Directors |
6 |
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Total Directorships |
7 |
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Trading to Date |
31/03/08 |
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Turnover |
£13,101,000 |
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Shareholder Funds |
£3,536,000 |
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Employees |
86 |
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Trends |
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Profitability |
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Weak |
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Liquidity |
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Weak |
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Shareholders Funds |
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- |
company information
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Registered Address |
Trading Address |
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Telephone Number |
01217175360 |
Telephone Number |
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TPS |
N |
TPS |
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Address |
Address |
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6180 KNIGHT'S COURT |
Milton Hall, Ely Road |
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Web Address |
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Incorporation Date |
15/11/2006 |
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Type of Accounts |
Full Accounts |
Filing Date of Accounts |
15/09/2008 |
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Company Type |
Private Limited With Share Capital |
Date of Latest Accounts |
31/03/2008 |
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Annual Return |
15/11/2008 |
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Previous Name(s) |
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Changed: |
09/04/2008 |
Ci Omnibridge Limited |
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Industry: |
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The provision of information and related services for mobile assets. |
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SIC Code |
Description |
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5030 |
Sale Of Motor Vehicle Parts & Accessories |
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Mortgage Charges |
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Outstanding |
2 |
Satisfied |
0 |
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Shareholders |
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Share Capital |
3547420 |
Currency |
Gbp |
Previous Names Details
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Previous Name(s) |
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Changed : |
09/04/2008 |
Ci Omnibridge Limited |
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Changed : |
10/04/2007 |
Lightbowl Limited |
Secondary Industry Code Details
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SIC Code |
Description |
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5030 |
Sale Of Motor Vehicle Parts & Accessories |
Mortgage Details
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Mortgage Type: |
rental deposit agreement |
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Date Charge Created: |
15/04/2008 |
Date Charge Registered: |
06/05/2008 |
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Date Charge Satisfied: |
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Status: |
Outstanding |
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Person(s) Entitled: |
HILLS UK LIMITED |
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Amount Secured: |
£57,702.09 due or to become due from the company to the chargee |
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Details: |
rental deposit of £57,702.09 and account in which it is held |
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Mortgage Type: |
rent deposit deed |
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Date Charge Created: |
25/06/2007 |
Date Charge Registered: |
03/07/2007 |
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Date Charge Satisfied: |
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Status: |
Outstanding |
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Person(s) Entitled: |
ABPGP 1 LIMITED AND ABPGP 2 LIMITED |
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Amount Secured: |
£20,472.03, and all other monies due or to become due from the company
to the chargee |
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Details: |
the deposited sum, |
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Shareholders Details
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Name |
Shares |
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Sunstore Ltd |
3,547,420 Ordinary Gbp 1.00 |
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Address |
Telephone Number |
TCPS |
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Milton Hall, Ely Road Milton Cambridge CB4 6WZ |
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accounts
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Annual Accounts |
06/07-03/08 |
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Months |
10 |
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Currency |
GBP |
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Consolidated A/cs |
N |
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Turnover |
13,101,000 |
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Export |
2,075,000 |
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Cost of Sales |
5,301,000 |
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Gross Profit |
7,800,000 |
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Wages & Salaries |
2,892,000 |
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Directors Emoluments |
344,000 |
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Operating Profits |
532,000 |
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Depreciation |
217,000 |
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Audit Fees |
24,000 |
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Interest Payments |
328,000 |
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Pre Tax Profit |
254,000 |
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Taxation |
-90,000 |
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Profit After Tax |
164,000 |
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Dividends Payable |
- |
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Retained Profits |
164,000 |
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Annual Accounts |
06/07-03/08 |
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Tangible Assets |
1,224,000 |
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Intangible Assets |
4,003,000 |
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Total Fixed Assets |
5,227,000 |
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Total Current Assets |
7,630,000 |
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Trade Debtors |
- |
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Stocks & WIP |
2,179,000 |
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Cash |
1,068,000 |
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Other Debtors |
4,383,000 |
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Increase In Cash |
1,068,000 |
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Miscellaneous Current
Assets |
- |
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Total Assets |
12,857,000 |
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Total Current Liabilities |
7,950,000 |
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Trade Creditors |
- |
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Bank Loans & Overdrafts |
- |
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Other Short Term Fin |
4,578,000 |
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Miscellaneous Current
Liabilities |
3,372,000 |
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Other Long Term Fin |
102,000 |
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Total Long Term
Liabilities |
1,371,000 |
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Bank Loans &
Overdrafts & LTL |
1,371,000 |
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Total Liabilities |
9,321,000 |
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Net Assets |
3,536,000 |
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Working Capital |
-320,000 |
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Annual Accounts |
06/07-03/08 |
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Called up Share Capital |
3,547,000 |
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P&L Account Reserve |
164,000 |
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Sundry Reserves |
-175,000 |
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Revaluation Reserve |
- |
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Shareholder Funds |
3,536,000 |
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Net Worth |
-467,000 |
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Annual Accounts |
06/07-03/08 |
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Net Cashflow from
Operations |
4,630,000 |
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Net Cashflow before
Financing |
-2,479,000 |
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Net Cashflow from
Financing |
3,547,000 |
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Contingent Liability |
NO |
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Capital Employed |
4,907,000 |
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No of Employees |
86 |
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Auditors |
KPMG LLP |
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AuditQualification |
No Adverse Comments |
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Bankers |
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BankBranchCode |
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Annual Accounts |
06/07-03/08 |
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Pre-tax profit margin % |
1.9 % |
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Current ratio |
0.96 |
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Sales/Net Working Capital |
-40.94 |
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Gearing % |
38.8 % |
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Equity in % |
39.9 % |
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Creditor Days |
- |
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Debtor Days |
- |
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Liquidity/Acid Test |
0.69 |
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Return On Capital Employed
% |
5.2 % |
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Return On Total Assets
Employed % |
2.0 % |
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Current Debt Ratio % |
2.2 % |
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Total Debt Ratio % |
2.6 % |
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Stock Turnover Ratio % |
16.6 % |
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Return on Net Assets
Employed % |
7.2 % |
group structure
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Ultimate Parent Company |
SUNSTORE LTD |
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Companies in Group |
2 |
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Company Name |
Registered Number |
Latest Annual Accounts |
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SUNSTORE LTD |
CYPRUS |
N/A |
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MIX TELEMATICS UK LIMITED<<< |
05998818 |
31/03/2008 |
Status History
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Date |
Description |
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No Status History |
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Event History
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Date |
Description |
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05/12/2008 |
Annual Returns |
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19/10/2008 |
Annual Returns |
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23/09/2008 |
New Accounts Filed |
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16/04/2008 |
Change Of Name |
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20/02/2008 |
New Board Member Mr S.p. Evans Appointed |
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05/12/2007 |
Annual Returns |
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04/12/2007 |
Change In Reg.office |
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04/12/2007 |
Change Of Company Postcode |
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08/06/2007 |
Ryan Dingley Has Resigned As Company Secretary |
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08/06/2007 |
Brandon Hucq Has Left The Board |
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08/06/2007 |
New Company Secretary (carol Jackson) Appointed |
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08/06/2007 |
New Board Member (carol Jackson) Appointed |
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08/06/2007 |
New Board Member (nicholas Rendell) Appointed |
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17/05/2007 |
New Board Member (richard Friedman) Appointed |
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11/05/2007 |
Rodney Forrester Has Resigned As Company Secretary |
directors
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Name |
Steven Phillip James Evans |
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Address |
329 Lyster Avenue |
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Featherbrooke Estate |
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Gauteng |
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South Africa |
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RSA |
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Officers Title |
Mr |
Date Of Birth |
23/03/1971 |
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Honours |
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Present Appointments |
1 |
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Appointment Date |
13/02/2008 |
Function |
Director |
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Name |
Stefan Brian Joselowitz |
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Address |
13 North Road |
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Morningside |
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Gauteng 2091 |
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South Africa |
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Officers Title |
Mr |
Date Of Birth |
23/03/1959 |
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Honours |
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Present Appointments |
1 |
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Appointment Date |
07/11/2007 |
Function |
Director |
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Name |
Terence Edward Buzer |
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Address |
6 Nassau Anenue |
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Parel Vallei |
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Somerset West |
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7130 |
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South Africa |
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Officers Title |
Mr |
Date Of Birth |
22/04/1949 |
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Honours |
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Present Appointments |
1 |
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Appointment Date |
16/11/2007 |
Function |
Director |
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Name |
Charles William Rex Tasker |
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Address |
9 Van Gogh Road |
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Somerset West |
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Western Cape 7129 |
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South Africa |
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Officers Title |
Mr |
Date Of Birth |
09/08/1963 |
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Honours |
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Present Appointments |
1 |
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Appointment Date |
26/04/2007 |
Function |
Director |
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Name |
Carol Ann Jackson |
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Address |
8 Beldesert Close |
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Henley In Arden |
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Solihull |
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West Midlands |
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B95 5JU |
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Officers Title |
Ms |
Date Of Birth |
16/04/1964 |
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Honours |
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Present Appointments |
3 |
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Appointment Date |
01/06/2007 |
Function |
Company Secretary |
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Name |
Carol Ann Jackson |
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Address |
8 Beldesert Close |
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Henley In Arden |
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Solihull |
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West Midlands |
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B95 5JU |
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Officers Title |
Ms |
Date Of Birth |
16/04/1964 |
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Honours |
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Present Appointments |
3 |
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Appointment Date |
01/06/2007 |
Function |
Director |
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FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.71 |
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UK Pound |
1 |
Rs.72.85 |
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Euro |
1 |
Rs.64.70 |
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%)