MIRA
INFORM REPORT
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Report Date : |
08.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
WILSON IMPORTS LIMITED |
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Registered Office : |
Wilson Business Park, 1 Queen Elizabeth Avenue, Glasgow, G52 4NQ |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
20.10.1994 |
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Com. Reg. No.: |
SC153737 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Clothing Importers |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
WILSON IMPORTS LIMITED |
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Holding Company |
Iain Wilson Holdings Ltd |
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Ultimate Holding Company |
IAIN WILSON HOLDINGS LTD |
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Trading Address |
1 Queen Elizabeth Ave,GLASGOW,G52 4NQ |
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Telephone |
0141-810-1050 |
Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
SC153737 |
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Date of Incorporation |
20/10/1994 |
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Registered Office |
Wilson Business Park, 1 Queen Elizabeth Avenue, Glasgow, G52 4NQ |
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Date of Last Annual Return to Registry |
20/10/2007 |
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Activities |
Clothing importers |
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Accounts |
The last filed accounts cover the period to 31/12/2005 and were filed on 15/03/2007 |
Recently Filed Documents
Details of the most recent documents
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Date Received |
Description |
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20/10/2007 |
Annual Return |
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31/12/2005 |
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 |
SALESMAN |
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Address |
15, BUCHANAN STREET MILNGAVIE , GLASGOW , LANARKSHIRE
, G62 8AW |
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Country of Origin |
BRITISH |
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Date of Birth |
23/09/1953 |
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Appointment Date |
20/10/1994 |
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Other Appointments |
CAESAR'S TURF & SPORTS BETTING LIMITED, CONCEPT BRAND
MANAGEMENT 2005 LIMITED, IAIN WILSON HOLDINGS LIMITED, IAIN WILSON
PROPERTIES LIMITED, WASTE CARE SERVICES LTD., WILSON IMPORTS LIMITED |
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DIRECTOR |
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Occupation |
COMPANY SECRETARY |
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Address |
15, BUCHANAN STREET MILNGAVIE , GLASGOW , LANARKSHIRE
, G62 8AW |
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Country of Origin |
BRITISH |
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Date of Birth |
28/05/1953 |
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Appointment Date |
31/10/1994 |
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Other Appointments |
IAIN WILSON HOLDINGS LIMITED, IAIN WILSON PROPERTIES
LIMITED, WILSON IMPORTS LIMITED |
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SECRETARY |
MS MAUREEN WILSON |
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Address |
15 BUCHANAN STREET, MILNGAVIE , GLASGOW , G62 8AW |
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Country of Origin |
BRITISH |
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Date of Birth |
28/05/1953 |
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Appointment Date |
31/10/1994 |
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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Iain Wilson Holdings Ltd |
ORD |
2 |
2.00 |
100.00 |
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 |
31/03/1995 |
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Date Registered |
04/04/1995 |
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Type |
410 |
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Date Created |
31/03/1995 |
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Lender |
MIDLAND BANK PLC |
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Secured On |
ALL SUMS DUE, OR TO BECOME DUE |
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Details |
UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE OF THE
COMPANY INCLUDING UNCALLED CAPITAL |
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Satisfied? |
No |
Public Record Information
Summary of CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
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Activities |
Clothing importers |
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Sic Code |
Description |
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5142 |
Wholesale of clothing and footwear |
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Staff Employed |
26 |
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Auditors |
Grant Thornton UK LLP |
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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. |
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Bankers |
HSBC Bank Plc |
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Sort Codes |
402247 |
Financial Data
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The following figures are shown in units of 000 |
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Profit and Loss |
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/12/2005 |
31/12/2004 |
31/12/2003 |
31/12/2002 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Consolidated? |
No |
No |
No |
No |
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SALES |
20,353 |
17,430 |
16,157 |
10,068 |
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Cost of goods sold |
16,442 |
13,652 |
13,058 |
7,963 |
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GROSS PROFIT |
3,911 |
3,778 |
3,099 |
2,105 |
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General administration costs (-) |
3,013 |
2,580 |
2,392 |
1,491 |
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Wages and Salaries |
1,345 |
1,524 |
1,621 |
888 |
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Depreciation |
238 |
10 |
5 |
5 |
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Net Operating Profit(Loss) |
898 |
1,198 |
707 |
614 |
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Non Trading Income |
17 |
3 |
7 |
15 |
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Total Non Trading Income |
17 |
3 |
7 |
15 |
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Interest expenses & similar (-) |
354 |
339 |
367 |
237 |
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Financial Expenses |
354 |
339 |
367 |
237 |
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PRE TAX PROFIT |
562 |
862 |
348 |
391 |
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Other Taxation |
23 |
0 |
0 |
0 |
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Taxation |
203 |
358 |
108 |
131 |
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PROFIT AFTER TAX |
336 |
504 |
240 |
260 |
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Net Profit |
336 |
504 |
240 |
260 |
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Dividends Payable |
0 |
0 |
0 |
0 |
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RETAINED PROFITS |
336 |
504 |
240 |
260 |
Balance Sheet
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/12/2005 |
31/12/2004 |
31/12/2003 |
31/12/2002 |
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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 |
850 |
206 |
13 |
15 |
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Plant, machinery & equipment |
59 |
79 |
13 |
15 |
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Intermediate Assets |
0 |
- |
- |
- |
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Intangible Assets |
791 |
127 |
- |
- |
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TOTAL CURRENT ASSETS |
5,804 |
6,144 |
4,733 |
2,887 |
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Stocks |
2,383 |
2,003 |
1,413 |
666 |
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Trade Debtors |
25 |
- |
- |
1,919 |
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Other Receivables |
211 |
78 |
134 |
168 |
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Prepaid expenses |
57 |
63 |
32 |
33 |
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Group Loans |
1,580 |
724 |
244 |
51 |
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Cash |
9 |
236 |
472 |
8 |
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own shares |
1,539 |
3,040 |
2,439 |
- |
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TOTAL ASSETS |
6,654 |
6,351 |
4,746 |
2,902 |
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TOTAL CURRENT LIABILITIES |
4,258 |
4,978 |
3,876 |
2,273 |
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Trade Creditors |
881 |
761 |
1,132 |
566 |
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Bank Overdraft |
550 |
- |
- |
- |
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Loans From Principals |
26 |
- |
- |
- |
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Taxes |
670 |
491 |
205 |
319 |
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Other Current Liabilities |
57 |
2,377 |
1,653 |
1,282 |
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Accruals & deferred income |
2,073 |
1,349 |
887 |
106 |
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WORKING CAPITAL |
1,546 |
1,167 |
857 |
614 |
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TOTAL LONG TERM LIABS |
687 |
0 |
0 |
0 |
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Taxation |
4 |
- |
- |
- |
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Other Long Term Liabilities |
683 |
- |
- |
- |
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NET ASSETS/(LIABILITIES) |
2,397 |
1,373 |
870 |
630 |
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SHARE CAPITAL + RESERVES |
1,710 |
1,373 |
870 |
630 |
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Issued Share Capital |
0 |
0 |
0 |
0 |
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Profit and Loss account |
1,710 |
1,373 |
870 |
630 |
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SHAREHOLDERS FUNDS |
1,710 |
1,373 |
870 |
630 |
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CAPITAL EMPLOYED |
2,397 |
1,373 |
870 |
630 |
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TANGIBLE NET WORTH |
918 |
1,246 |
870 |
630 |
Key Credit Ratios
|
Accounts Date |
31/12/2005 |
31/12/2004 |
31/12/2003 |
31/12/2002 |
|
Current Ratio |
1.36 |
1.23 |
1.22 |
1.27 |
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Profit Before Tax |
0.03 |
0.05 |
0.02 |
0.04 |
|
Creditors Days (D.P.O) |
19.56 |
20.35 |
31.64 |
25.94 |
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Quick Ratio |
0.80 |
0.83 |
0.86 |
0.98 |
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Return on Assets |
9.59 |
13.85 |
7.33 |
13.47 |
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T.N.W/Total Assets |
0.14 |
0.20 |
0.18 |
0.22 |
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Return on Capital |
23.45 |
62.78 |
40.00 |
62.06 |
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Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
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Equity Gearing |
0.01 |
- |
- |
- |
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Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
|
Solvency (%) |
538.67 |
399.52 |
445.52 |
360.79 |
Financial Summary
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Turnover |
Turnover increased by more than 17% in the period. Turnover totalled
GBP 20,353,000 for the period. |
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Operating Profit |
Totalled GBP 898,000 In the period prior a profit of GBP
1,198,000 was achieved. |
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Pre Tax |
The subject made a profit of GBP 562,000 compared with a profit
of GBP 862,000 in the previous period. |
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Working Capital |
The company's working capital improved in the period by 32% |
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Tangible Net Worth |
Net worth reduced by 328,000 during the period and now stands at GBP
918,000 |
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Fixed Assets |
The subjects fixed assets reduced during the period by GBP
20,000 to GBP 59,000 and are now 1% of total assets compared with
1% in the previous period |
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Long Term Liabilities |
The company's long term liabilities increased during the period by
105% and are now 301% of net worth compared with 108% in the previous period |
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Long Term Liabilities |
Long term liabilities are now 41% of total assets compared with 21% in
the previous period |
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%)