MIRA
INFORM REPORT
|
Report Date : |
05.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ATIQUE TEXTILES LIMITED |
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Registered Office : |
117-119 White Abbey Road, Bradford, West Yorkshire BD8 8DR |
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Country : |
United Kingdom |
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Financials (as on) : |
31.07.2006 |
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Date of Incorporation : |
29.06.2002 |
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Com. Reg. No.: |
04473851 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Retail Sale of Textiles |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
GBP 163,500 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
ATIQUE TEXTILES LIMITED |
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Telephone |
01274-488812 |
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Registered Office |
117-119 White Abbey Road, Bradford, West Yorkshire BD8 8DR |
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Low Risk - There is a high degree of confidence this company
will prove good for the assigned Credit Limit |
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Credit Limit |
GBP 163,500 |
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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 1,618,900 |
Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
04473851 |
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Date of Incorporation |
29/06/2002 |
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Registered Office |
117-119 White Abbey Road, Bradford, West Yorkshire BD8 8DR |
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Date of Last Annual Return to
Registry |
14/06/2007 |
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Accounts |
The last filed accounts cover the period to 31/07/2006 and
were filed on 04/05/2007 |
Recently Filed Documents
Details of the most recent documents
|
Date
Received |
Description |
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14/06/2007 |
Annual Return |
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31/07/2006 |
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 |
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Occupation |
COMPANY DIRECTOR |
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Address |
5, SELBORNE GROVE , BRADFORD , WEST
YORKSHIRE , BD9 4NL |
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Country of Origin |
BRITISH |
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Date of Birth |
25/02/1965 |
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Appointment Date |
29/06/2002 |
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Other Appointments |
ATIQUE TEXTILES LIMITED |
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
5, SELBORNE GROVE , BRADFORD , WEST
YORKSHIRE , BD9 4NL |
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Country of Origin |
BRITISH |
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Date of Birth |
19/08/1970 |
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Appointment Date |
29/06/2002 |
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Other Appointments |
ATIQUE TEXTILES LIMITED |
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
5, SELBORNE GROVE , BRADFORD , WEST
YORKSHIRE , BD9 4NL |
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Country of Origin |
BRITISH |
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Date of Birth |
10/10/1933 |
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Appointment Date |
29/06/2002 |
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Other Appointments |
ATIQUE TEXTILES LIMITED |
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
5, SELBORNE GROVE , BRADFORD , WEST
YORKSHIRE , BD9 4NL |
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Country of Origin |
BRITISH |
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Date of Birth |
25/02/1931 |
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Appointment Date |
29/06/2002 |
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Other Appointments |
ATIQUE TEXTILES LIMITED |
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
9, SELBORNE GROVE , BRADFORD , WEST
YORKSHIRE , BD9 4NL |
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Country of Origin |
BRITISH |
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Date of Birth |
17/05/1957 |
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Appointment Date |
29/06/2002 |
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Other Appointments |
ATIQUE TEXTILES LIMITED |
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
9, SELBORNE GROVE , BRADFORD , WEST
YORKSHIRE , BD9 4NL |
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Country of Origin |
BRITISH |
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Date of Birth |
22/02/1958 |
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Appointment Date |
29/06/2002 |
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Other Appointments |
ATIQUE TEXTILES LIMITED |
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SECRETARY |
ATIQUE SADDIQUE |
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Address |
5 SELBORNE GROVE, , BRADFORD , WEST
YORKSHIRE , BD9 4NL |
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Country of Origin |
BRITISH |
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Date of Birth |
25/02/1965 |
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Appointment Date |
29/06/2002 |
Recently Resigned Directors (last
3)
None
Share Summary
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Share Currency: |
GBP |
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
%age |
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Mr Atique Rehman Saddique |
ORD |
100 |
100.00 |
17.00 |
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Mr Mohammed Saddique |
ORD |
100 |
100.00 |
17.00 |
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Mr Mushtaq Ahmed |
ORD |
100 |
100.00 |
17.00 |
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Mrs Atia Bi Hussain |
ORD |
100 |
100.00 |
17.00 |
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Mrs Mahroof Akhtar |
ORD |
100 |
100.00 |
17.00 |
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Mrs Sakina Bibi |
ORD |
100 |
100.00 |
17.00 |
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Mortgages and Charges
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Total Registered |
1 |
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Total Outstanding |
1 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
21/10/2003 |
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Date Registered |
27/10/2003 |
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Type |
395 |
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Date Created |
21/10/2003 |
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Lender |
BARCLAYS BANK PLC |
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Secured On |
PROVIDED THAT THE TOTAL SUM RECOVERABLE SHALL NOT EXCEED TWO
HUNDRED AND FIFTY THOUSAND POUNDS ALL MONIES DUE OR TO BECOME DUE FROM THE
COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Details |
ATIQUE TEXTILES LIMITED GTS BID DEPOSIT BID NUMBER
69498333 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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Public Record Information
Summary of CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
|
Sic Code |
Description |
|
5241 |
Retail sale of textiles |
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5141 |
Wholesale of textiles |
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Staff Employed |
11 |
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Auditors |
Bayoor Accountants Ltd |
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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
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The following figures are shown in units of 000 |
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Profit and Loss |
|
Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/07/2006 |
31/07/2005 |
31/07/2004 |
31/07/2003 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Consolidated? |
No |
No |
No |
No |
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SALES |
3,137 |
3,267 |
3,202 |
- |
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Cost of goods sold |
2,408 |
2,500 |
- |
- |
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GROSS PROFIT |
729 |
767 |
768 |
- |
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Other Expenses |
2 |
28 |
- |
- |
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General administration costs (-) |
322 |
297 |
- |
- |
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Wages and Salaries |
105 |
87 |
96 |
- |
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Depreciation |
24 |
23 |
17 |
- |
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Net Operating Profit(Loss) |
405 |
443 |
462 |
- |
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Non Trading Income |
0 |
- |
- |
- |
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Total Non Trading Income |
0 |
0 |
0 |
- |
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Interest expenses & similar
(-) |
10 |
11 |
13 |
- |
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Financial Expenses |
10 |
11 |
13 |
- |
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PRE TAX PROFIT |
395 |
432 |
449 |
- |
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Other Taxation |
0 |
0 |
0 |
- |
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Taxation |
94 |
112 |
110 |
- |
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PROFIT AFTER TAX |
301 |
320 |
339 |
- |
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Net Profit |
301 |
320 |
339 |
- |
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Dividends Payable |
114 |
100 |
80 |
- |
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RETAINED PROFITS |
187 |
220 |
259 |
- |
Balance Sheet
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/07/2006 |
31/07/2005 |
31/07/2004 |
31/07/2003 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
1,460 |
147 |
74 |
0 |
|
Land & buildings |
1,389 |
- |
23 |
- |
|
Plant, machinery &
equipment |
71 |
147 |
51 |
- |
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TOTAL CURRENT ASSETS |
1,239 |
1,631 |
1,228 |
1 |
|
Stocks |
493 |
397 |
377 |
- |
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Trade Debtors |
464 |
444 |
417 |
- |
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Cash |
282 |
790 |
434 |
1 |
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TOTAL ASSETS |
2,699 |
1,778 |
1,303 |
1 |
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TOTAL CURRENT LIABILITIES |
499 |
509 |
459 |
0 |
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Trade Creditors |
267 |
344 |
175 |
- |
|
Taxes |
94 |
112 |
110 |
- |
|
Accruals & deferred
income |
138 |
52 |
174 |
- |
|
WORKING CAPITAL |
740 |
1,122 |
770 |
0 |
|
TOTAL LONG TERM LIABS |
743 |
0 |
0 |
0 |
|
Other Long Term
Liabilities |
743 |
- |
- |
- |
|
NET ASSETS/(LIABILITIES) |
2,200 |
1,270 |
844 |
0 |
|
SHARE CAPITAL + RESERVES |
1,458 |
1,271 |
845 |
1 |
|
Issued Share Capital |
1 |
1 |
1 |
1 |
|
Share Premium Accounts |
791 |
791 |
585 |
- |
|
Profit and Loss account |
666 |
479 |
259 |
0 |
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SHAREHOLDERS FUNDS |
1,458 |
1,271 |
845 |
1 |
|
CAPITAL EMPLOYED |
2,201 |
1,271 |
845 |
1 |
|
TANGIBLE NET WORTH |
1,457 |
1,270 |
844 |
1 |
Key Credit Ratios
|
Accounts Date |
31/07/2006 |
31/07/2005 |
31/07/2004 |
31/07/2003 |
|
Current Ratio |
2.48 |
3.20 |
2.68 |
- |
|
Profit Before Tax |
0.13 |
0.13 |
0.14 |
- |
|
Creditors Days (D.P.O) |
40.47 |
50.22 |
26.24 |
- |
|
Quick Ratio |
1.49 |
2.42 |
1.85 |
- |
|
Return on Assets |
14.64 |
24.30 |
34.46 |
- |
|
T.N.W/Total Assets |
0.54 |
0.71 |
0.65 |
1.00 |
|
Return on Capital |
17.95 |
33.99 |
53.14 |
- |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
- |
|
Equity Gearing |
0.02 |
- |
- |
- |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
- |
|
Solvency (%) |
85.24 |
40.08 |
54.38 |
- |
Financial Summary
|
Turnover |
Turnover decreased by more than 4% in the period. Turnover
totalled GBP 3,137,000 for the period. |
|
Operating Profit |
Totalled GBP 405,000 In the period prior a profit of
GBP 443,000 was achieved. |
|
Pre Tax |
The subject made a profit of GBP 395,000 compared
with a profit of GBP 432,000 in the previous period. |
|
Working Capital |
The company's working capital decreased in the period by
34% |
|
Tangible Net Worth |
Net worth increased by 187,000 during the period and now
stands at GBP 1,457,000 |
|
Fixed Assets |
The subjects fixed assets increased during the period by
GBP 1,313,000 to GBP 1,460,000 and are now 54% of total assets
compared with 8% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities increased during the
period by 1594% and are now 60% of net worth compared with 4% in the previous
period |
|
Long Term Liabilities |
Long term liabilities are now 33% of total assets compared
with 3% 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 |
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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%)