MIRA
INFORM REPORT
|
Report Date : |
05.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ICON POLYMER LIMITED |
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Registered Office : |
Victoria Works, Thrumpton Lane, Retford, Notts DN22 6HH |
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Country : |
United Kingdom |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
14.12.1933 |
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Com. Reg. No.: |
00282648 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Manufacturers of Rubber Components |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Maximum Credit Limit : |
GBP 1,038,900 |
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Status : |
Very Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
ICON POLYMER LIMITED |
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Holding Company |
ICON POLYMER UK LTD |
|
Ultimate Holding Company |
ICON POLYMER GROUP LTD |
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Trading Address |
VICTORIA WORKS THRUMPTON LA,RETFORD,DN22 6HH |
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Telephone |
01777-714300 |
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There is every confidence this company will prove good for
the assigned Credit Limit |
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Credit Limit |
GBP 1,038,900 |
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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 8,101,100 |
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Buying from this company? The Contract Limit is the
recommended aggregate annual value for supply contracts. |
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Official Company Data
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|
Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
00282648 |
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Date of Incorporation |
14/12/1933 |
|
Registered Office |
Victoria Works, Thrumpton Lane, Retford, Notts DN22 6HH |
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Date of Last Annual Return to
Registry |
01/01/2008 |
|
Activities |
Manufacturers of rubber components |
|
Accounts |
The last filed accounts cover the period to 30/09/2007
with Companies House. |
Recently Filed Documents
Details
of the most recent documents
|
Date
Received |
Description |
|
01/01/2008 |
Annual Return |
|
30/09/2007 |
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 |
DIRECTOR |
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Address |
8, MINSTER YARD , LINCOLN , LN2 1PJ |
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Country of Origin |
BRITISH |
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Date of Birth |
09/11/1965 |
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Appointment Date |
11/09/2001 |
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Other Appointments |
ICON NORTHERN RUBBER LIMITED, ICON PIECEAMBER
LIMITED, ICON POLYMER GROUP LIMITED, ICON POLYMER HOLDINGS LIMITED, ICON
POLYMER LIMITED, ICON POLYMER TRUSTEES LIMITED, ICON POLYMER UK
LIMITED, ICON WARNE HOLDINGS LIMITED, ICON WARNE LIMITED, NRC
PENSION COMPANY LIMITED, SILENTBLOC UK LIMITED, SILVERTOWN HOLDINGS
LIMITED, SILVERTOWN PROPERTIES UK LIMITED, SILVERTOWN UK LIMITED |
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DIRECTOR |
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Occupation |
FINANCE DIRECTOR |
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Address |
11, NOTTINGHAM ROAD LOWDHAM , NOTTINGHAM
, NG14 7AL |
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Country of Origin |
BRITISH |
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Date of Birth |
29/05/1961 |
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Appointment Date |
28/04/2006 |
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Other Appointments |
ICON NORTHERN RUBBER LIMITED, ICON PIECEAMBER
LIMITED, ICON POLYMER GROUP LIMITED, ICON POLYMER HOLDINGS
LIMITED, ICON POLYMER LIMITED, ICON POLYMER UK LIMITED, ICON
WARNE HOLDINGS LIMITED, ICON WARNE LIMITED, S R F ASSOCIATES
LIMITED, SILENTBLOC UK LIMITED, SILVERTOWN HOLDINGS
LIMITED, SILVERTOWN PROPERTIES UK LIMITED, SILVERTOWN UK LIMITED |
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SECRETARY |
MR SHAUN FINN |
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Address |
11 NOTTINGHAM ROAD, LOWDHAM , NOTTINGHAM
, NG14 7AL |
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Country of Origin |
BRITISH |
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Date of Birth |
29/05/1961 |
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Appointment Date |
28/04/2006 |
Recently Resigned Directors (last
3)
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DIRECTOR |
MARK SMEETH HARRIS |
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Occupation |
ACCOUNTANT |
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Address |
21 , OAKDENE , ASCOT , BERKS
, - - |
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Country of Origin |
BRITISH |
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Date of Birth |
31/08/1958 |
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Resignation Date |
28/04/2006 |
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DIRECTOR |
AMANDA JANE SUNTER |
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Occupation |
GROUP FINANCE DIRECTOR |
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Address |
664 , RAYLEIGH ROAD , BRENTWOOD , ESSEX
, - - |
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Country of Origin |
BRITISH |
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Date of Birth |
24/10/1962 |
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Resignation Date |
12/03/2005 |
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DIRECTOR |
MR LYNDON WALTERS |
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Address |
10 , IVANHOE CLOSE , DONCASTER , SOUTH
YORKSHIRE , - - |
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Date of Birth |
22/06/1952 |
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Resignation Date |
28/11/2002 |
Share Summary
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Share Currency: |
GBP |
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
Voting %age |
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ICON POLYMER UK LTD |
ORD |
360,000 |
360,000.00 |
100.00 |
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Mortgages and Charges
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Total Registered |
7 |
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Total Outstanding |
5 |
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Total Satisfied |
2 |
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Most Recent Mortgage |
24/12/2004 |
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Date Registered |
12/01/2005 |
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Type |
395 |
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Date Created |
24/12/2004 |
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Lender |
LLOYDS TSB BANK PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY ANDOR ALL
OR ANY OF THE OTHER COMPANIES NAMED THEREIN TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
|
Details |
ANY SUM OR SUMS STANDING TO THE CREDIT OF ANY ONE OR MORE OF
ANY PRESENT OR FUTURE ACCOUNTS OF THE COMPANIES OR ANY OF THEM WITH THE BANK
(INCLUDING ANY ACCOUNTS HELD IN THE BANK'S NAME WITH ANY DESIGNATION WHICH
INCLUDES THE NAME (S) OF THE COMPANIES OR ANY OF THEM) WHETHER SUCH ACCOUNTS
BE DENOMINATED IN STERLING OR IN A CURRENCY OR CURRENCIES OTHER THAN STERLING
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Satisfied? |
No |
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Date Registered |
07/01/2005 |
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Type |
395 |
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Date Created |
24/12/2004 |
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Lender |
LLOYDS TSB DEVELOPMENT CAPITAL LIMITED |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ANDOR ANY LOAN NOTE HOLDER 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 |
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Satisfied? |
No |
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Date Registered |
19/12/2002 |
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Type |
395 |
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Date Created |
12/12/2002 |
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Lender |
LLOYDS TSB BANK PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY ANDOR ALL
OR ANY OF THE OTHER COMPANIES NAMED THEREIN TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
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Details |
ANY SUM STANDING TO THE CREDIT OF AN ACCOUNT,AS
DEFINED,WHETHER IN STERLING OR ANY OTHER CURRENCY AND THE DEBT FROM TIME TO
TIME OWING BY THE BANK REPRESENTED BY THAT SUM AND "CREDIT
BALANCES"; SEE FORM 395 FOR DETAILS |
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Satisfied? |
No |
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Date Registered |
19/12/2002 |
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Type |
395 |
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Date Created |
12/12/2002 |
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Lender |
LLOYDS TSB DEVELOPMENT CAPITAL LIMITED (THE TRUSTEE) |
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Secured On |
ANDOR ANY LOAN NOTE HOLDER 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 |
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Satisfied? |
Fully |
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Date Registered |
19/09/2001 |
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Type |
395 |
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Date Created |
11/09/2001 |
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Lender |
LLOYDS TSB DEVELOPMENT CAPITAL LIMITED (THE
"TRUSTEE") |
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Secured On |
ALL MONEY AND LIABILITIES WHETHER ACTUAL OR CONTINGENT
WHICH THEN WERE OR AT ANY TIME THEREAFTER MAY BE DUE OWING OR INCURRED BY THE
COMPANY TO THE CHARGEE ANY LOAN NOTE HOLDER ANDOR ANY NEW LOAN NOTE HOLDER
PURSUANT TO THE GUARANTEE (ALL TERMS AS DEFINED) |
|
Details |
THE PROPERTY BEING THE FREEHOLD PROPERTY KNOWN AS VICTORIA
WORKS THRUMPTON LANE RETFORD AND THE LEASEHOLD PROPERTY KNOWN AS VICTORIA WORKS
RETFORD 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 |
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Satisfied? |
Fully |
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Date Registered |
13/09/2001 |
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Type |
395 |
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Date Created |
11/09/2001 |
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Lender |
LLOYDS TSB BANK PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Details |
THE FREEHOLD PROPERTY KNOWN AS VICTORIA WORKS, THRUMPTON
LANE, RETFORD. THE LEASEHOLD PROPERTY KNOWN AS VICTORIA WORKS, RETFORD.
TOGETHER WITH ALL BUILDINGS AND FIXTURES (INCLUDING TRADE FIXTURES) FIXED
PLANT AND MACHINERY BY WAY OF FIXED CHARGE ALL PRESENT AND FUTURE BOOK AND
OTHER DEBTS FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS
UTENSILS FURNITURE AND EQUIPMENT BY WAY OF ASSIGNMENT THE GOODWILL OF THE
BUSINESS (IF ANY) THE FULL BENEFIT OF ALL LICENCES AND ALL GUARANTEES |
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Satisfied? |
No |
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Date Registered |
13/09/2001 |
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Type |
395 |
|
Date Created |
11/09/2001 |
|
Lender |
LLOYDS TSB BANK PLC |
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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
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Activities |
Manufacturers of rubber components |
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Sic Code |
Description |
|
2513 |
Manufacture of other rubber products |
|
2513 |
Manufacture of other rubber products |
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Staff Employed |
300 |
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Auditors |
KPMG LLP |
|
Auditors Notes |
No Qualification. The Auditors have expressed a clean opinion
(i.e. unqualified with no referrals) on the latest accounts. |
|
Bankers |
Lloyds TSB Bank Plc |
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Sort Codes |
301700 |
Financial Data
Profit and Loss
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
30/09/2007 |
30/09/2006 |
30/09/2005 |
30/09/2004 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
000 |
000 |
000 |
000 |
|
Consolidated? |
No |
No |
No |
No |
|
SALES |
13,730 |
14,502 |
13,664 |
14,835 |
|
Export Sales |
5,442 |
6,865 |
7,999 |
8,186 |
|
Cost of goods sold |
10,662 |
11,911 |
11,181 |
11,970 |
|
GROSS PROFIT |
3,068 |
2,591 |
2,483 |
2,865 |
|
Other Expenses |
594 |
970 |
958 |
1,130 |
|
General administration costs (-) |
697 |
618 |
694 |
156 |
|
Wages and Salaries |
4,262 |
5,110 |
5,172 |
5,010 |
|
Depreciation |
604 |
1,005 |
671 |
552 |
|
Net Operating Profit(Loss) |
1,777 |
1,003 |
831 |
1,579 |
|
Other financial income |
1,462 |
- |
- |
- |
|
Total Non Trading Income |
1,462 |
0 |
0 |
0 |
|
Financial Expenses |
0 |
936 |
0 |
0 |
|
PRE TAX PROFIT |
3,239 |
67 |
831 |
1,579 |
|
Other Taxation |
-28 |
121 |
-79 |
-196 |
|
Taxation |
660 |
-290 |
0 |
375 |
|
PROFIT AFTER TAX |
2,607 |
236 |
910 |
1,400 |
|
Net Profit |
2,607 |
236 |
910 |
1,400 |
|
Dividends Payable |
0 |
0 |
0 |
2,112 |
|
RETAINED PROFITS |
2,607 |
236 |
910 |
-712 |
Balance Sheet
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
30/09/2007 |
30/09/2006 |
30/09/2005 |
30/09/2004 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
000 |
000 |
000 |
000 |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL FIXED ASSETS |
1,950 |
3,352 |
3,821 |
3,665 |
|
Land & buildings |
0 |
488 |
441 |
414 |
|
Plant, machinery & equipment |
1,950 |
2,864 |
3,070 |
2,898 |
|
TOTAL CURRENT ASSETS |
14,667 |
8,895 |
5,855 |
6,678 |
|
Stocks |
894 |
977 |
1,064 |
902 |
|
Trade Debtors |
2,400 |
2,679 |
2,136 |
4,532 |
|
Prepaid expenses |
93 |
44 |
56 |
130 |
|
Group Loans |
10,885 |
3,789 |
2,425 |
318 |
|
Cash |
395 |
790 |
115 |
793 |
|
TOTAL ASSETS |
16,617 |
12,247 |
9,676 |
10,343 |
|
TOTAL CURRENT LIABILITIES |
9,179 |
7,388 |
5,166 |
6,739 |
|
Trade Creditors |
1,197 |
1,579 |
1,502 |
2,098 |
|
Taxes |
157 |
387 |
84 |
411 |
|
Due From Group |
7,148 |
4,769 |
3,500 |
3,712 |
|
Accruals & deferred income |
677 |
653 |
80 |
518 |
|
WORKING CAPITAL |
5,488 |
1,507 |
689 |
-61 |
|
TOTAL LONG TERM LIABS |
147 |
175 |
62 |
66 |
|
Taxation |
147 |
175 |
62 |
66 |
|
NET ASSETS/(LIABILITIES) |
7,438 |
4,859 |
4,510 |
3,604 |
|
SHARE CAPITAL + RESERVES |
7,291 |
4,684 |
4,448 |
3,538 |
|
Issued Share Capital |
360 |
360 |
360 |
360 |
|
Profit and Loss account |
6,931 |
4,324 |
4,088 |
3,178 |
|
SHAREHOLDERS FUNDS |
7,291 |
4,684 |
4,448 |
3,538 |
|
CAPITAL EMPLOYED |
7,438 |
4,859 |
4,510 |
3,604 |
|
TANGIBLE NET WORTH |
7,291 |
4,684 |
4,138 |
3,185 |
Key Credit Ratios
|
|
|
|
|
|
|
Accounts Date |
30/09/2007 |
30/09/2006 |
30/09/2005 |
30/09/2004 |
|
Current Ratio |
1.60 |
1.20 |
1.13 |
0.99 |
|
Profit Before Tax |
0.24 |
0.00 |
0.06 |
0.11 |
|
Creditors Days (D.P.O) |
40.98 |
48.39 |
49.03 |
63.97 |
|
Quick Ratio |
1.50 |
1.07 |
0.93 |
0.86 |
|
Return on Assets |
19.49 |
0.55 |
8.87 |
15.81 |
|
T.N.W/Total Assets |
0.44 |
0.38 |
0.43 |
0.31 |
|
Return on Capital |
43.55 |
1.38 |
18.43 |
43.81 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Equity Gearing |
0.50 |
0.27 |
0.67 |
0.48 |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
|
Solvency (%) |
127.91 |
161.46 |
126.34 |
213.66 |
Financial Summary
|
Turnover |
Turnover decreased by more than 5% in the period. Turnover
totalled GBP 13,730,000 for the period. |
|
Operating Profit |
Totalled GBP 1,777,000 In the period prior a profit
of GBP 1,003,000 was achieved. |
|
Pre Tax |
The subject made a profit of GBP 3,239,000 compared
with a profit of GBP 67,000 in the previous period. |
|
Working Capital |
The company's working capital improved in the period by
264% |
|
Tangible Net Worth |
Net worth increased by 2,607,000 during the period and now
stands at GBP 7,291,000 |
|
Fixed Assets |
The subjects fixed assets reduced during the period by GBP
1,402,000 to GBP 1,950,000 and are now 12% of total assets
compared with 27% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities reduced during the
period by 16% and are now 2% of net worth compared with 4% in the previous
period |
|
Long Term Liabilities |
Long term liabilities are now 1% of total assets compared
with 1% in the previous period |
Previous Searches on this Company
|
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||
|
Last 3 Months |
Last 6 Months |
Last 12 Months |
|
1 |
1 |
3 |
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FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.12 |
|
UK Pound |
1 |
Rs.85.08 |
|
Euro |
1 |
Rs.67.41 |
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%)