MIRA INFORM REPORT

 

 

Report Date :

03.01.2008

 

IDENTIFICATION DETAILS

 

Name :

NEW WORLD FRUITS LIMITED

 

 

Registered Office :

Marketing House Bear Street, Barnstaple, Devon, EX32 7BZ

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

24/10/2005

 

 

Com. Reg. No.:

05600857

 

 

Legal Form :

Private Limited Liability Company (GB)

 

 

Line of Business :

Fruit & Vegetable Retailers   

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

Company Identification Details

 

 

Subject Reported on

NEW WORLD FRUITS LIMITED

Registered Office

Marketing House Bear Street, Barnstaple, Devon, EX32 7BZ

 

 

 

 

Average Risk - This company has an average risk status and should be treated with a degree of caution

 

 

Credit Limit

GBP   7,000

 

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

 

 

Contract Limit

GBP   55,100

 

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

05600857

Date of Incorporation

24/10/2005

Registered Office

Marketing House Bear Street, Barnstaple, Devon, EX32 7BZ

Date of Last Annual Return to Registry

24/10/2007

Activities

FRUIT & VEGETABLE RETAILERS   

Accounts

The last filed accounts cover the period to 31/03/2007 and were filed on 29/08/2007

 

 

Recently Filed Documents

 

Details of the most recent documents

 

Date Received

Description

24/10/2007

Annual Return

31/03/2007

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

MARTIN KEITH FURSE SEYMOUR

 (One or more of this director's other companies has adverse information related to it)

  Occupation

DIRECTOR

  Address

NEW HOUSE ,  WEEK NURSERIES HARRACOTT , BARNSTAPLE , DEVON , EX31 3JQ

  Country of Origin

BRITISH

  Date of Birth

14/08/1954

  Appointment Date

24/10/2005

  Other Appointments

ADVANCED FARM SERVICES LIMITED, ADVANCED MARKETING SERVICES LIMITED, AMS IMPERIAL LIMITED, C&T DEVELOPMENTS LIMITED, CARTER & THOMAS LIMITED, CROP PRO-TECH LTD, EUROBERRY (UK) LTD, FRUITFUL LIMITED, HILLER FARMS LIMITED, HYGIEIA HEALTHCARE LIMITED, LOCAL FOOD ALLIANCE LIMITED, NEW WORLD FRUITS LIMITED, PROTECH HANDS LTD, READSWIFT LIMITED, THE DECKS RESTAURANT LIMITED, WELL-PICT EUROPEAN (SALES) LIMITED, WELL-PICT EUROPEAN (SCOTIA) LTD, WELL-PICT EUROPEAN (SCOTLAND) LIMITED, WELL-PICT EUROPEAN COUNTY LOCAL LIMITED, WELL-PICT EUROPEAN FRESH LOGISTICS LTD, WELL-PICT EUROPEAN GROWERS LIMITED, WELL-PICT EUROPEAN LTD, WPE FARMS (UK) LTD

DIRECTOR

ROB  BORLEY

  Occupation

COMPANY DIRECTOR

  Address

49,  MOOREND PARK ROAD LECKHAMPTON , CHELTENHAM , GLOS , GL53 0LA

  Country of Origin

BRITISH

  Date of Birth

31/03/1970

  Appointment Date

04/01/2006

  Other Appointments

NEW WORLD FRUITS LIMITED

DIRECTOR

JOHN  FERGUSON

  Occupation

FRUIT IMPORTER

  Address

11,  IMPERIAL SQUARE , CHELTENHAM , GLOS , GL50 1QB

  Country of Origin

BRITISH

  Date of Birth

06/02/1963

  Appointment Date

01/06/2007

  Other Appointments

NEW WORLD FRUITS LIMITED

SECRETARY

MR  ANDREW COATES

  Address

LITTLE GLENMORE,  ROBOROUGH , WINKLEIGH , DEVON , EX19 8TE

  Country of Origin

BRITISH

  Date of Birth

02/04/1961

  Appointment Date

24/10/2005

 

 

Recently Resigned Directors (last 3)

 

None

 

 

Share Summary

 

Share Currency:

GBP

 

Priniciple Shareholders:

Type Of Share

No. of Shares

Value

%age

 

 

 

 

 

A M S Exotics LLC

ORD

23 

23.00

23.00

 

 

 

 

 

Mr John Ferguson

ORD

10 

10.00

10.00

 

 

 

 

 

Mr Martin Keith Furse Seymour

ORD

34 

34.00

34.00

 

 

 

 

 

Mr Rob Borley

ORD

33 

33.00

33.00

 

 

 

 

 

 

 

Mortgages and Charges

 

 

 

Total Registered

2

Total Outstanding

2

Total Satisfied

0

Most Recent Mortgage

07/07/2006

 

 

 

Date Registered

21/07/2006

Type

395

Date Created

11/07/2006

Lender

RBS INVOICE FINANCE LIMITED

Secured On

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Satisfied?

No

 

 

Date Registered

12/07/2006

Type

395

Date Created

07/07/2006

Lender

NATIONAL WESTMINSTER BANK PLC

Secured On

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY

Satisfied?

No

 

 

Public Record Information

 

Summary of CCJ's/Scottish Decrees

 

There are no unsatisfied CCJs against the company.

 

 

Operations

 

 

 

Activities

FRUIT & VEGETABLE RETAILERS   

Sic Code

Description

5221

Retail sale of fruit and vegetables

Staff Employed

 

Auditors

Robinson Gale & Co

Auditors Notes

No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the latest accounts.

 

 

Financial Data

 

The following figures are shown in units of 000

 

Profit and Loss

 

Number of Weeks

52

Accounts Date

31/03/2007

Currency

GBP

Consolidated?

No

SALES

4,550

-

-

-

Cost of goods sold

4,137

-

-

-

GROSS PROFIT

413

-

-

-

Other Expenses

157

-

-

-

General administration costs (-)

86

-

-

-

Wages and Salaries

172

-

-

-

Depreciation

4

-

-

-

Net Operating Profit(Loss)

170

-

-

-

Total Non Trading Income

0

-

-

-

Interest expenses & similar (-)

16

-

-

-

Financial Expenses

16

-

-

-

PRE TAX PROFIT

153

-

-

-

Other Taxation

0

-

-

-

Taxation

30

-

-

-

PROFIT AFTER TAX

124

-

-

-

Net Profit

124

-

-

-

Dividends Payable

0

-

-

-

RETAINED PROFITS

124

-

-

 

 

Balance Sheet

 

Number of Weeks

52

Accounts Date

31/03/2007

Currency

GBP

Consolidated?

No

TOTAL FIXED ASSETS

1,062

 Plant, machinery & equipment

15

-

-

-

 Other long term assets

1,047

-

-

-

TOTAL CURRENT ASSETS

460

 

 

 

 Trade Debtors

454

-

-

-

 Other Receivables

0

-

-

-

 Tax Recoverable

5

-

-

-

TOTAL ASSETS

1,522

 

 

 

TOTAL CURRENT LIABILITIES

1,398

 

 

 

 Trade Creditors

507

-

-

-

 Bank Overdraft

656

-

-

-

 Taxes

33

-

-

-

 Accruals & deferred income

202

-

-

-

WORKING CAPITAL

-938

 

 

 

TOTAL LONG TERM LIABS

0

 

 

 

NET ASSETS/(LIABILITIES)

124

 

 

 

SHARE CAPITAL + RESERVES

124

 

 

 

 Issued Share Capital

0

-

-

-

 Profit and Loss account

124

-

-

-

SHAREHOLDERS FUNDS

124

 

 

 

CAPITAL EMPLOYED

124

 

 

 

TANGIBLE NET WORTH

124

 

 

 

 

 

Key Credit Ratios

 

 

Accounts Date

31/03/2007

Current Ratio

0.33

Profit Before Tax

0.03

Creditors Days (D.P.O)

44.73

Quick Ratio

-

Return on Assets

32.21

T.N.W/Total Assets

0.08

Return on Capital

123.39

Working Capital/Sales

0.00

Stock Turnover

0.00

Solvency (%)

1127.42

 

 

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