MIRA INFORM REPORT

 

 

 

Report Date :

25.07.2008

 

IDENTIFICATION DETAILS

 

Name :

CHARTERED INSTITUTE OF PURCHASING & SUPPLY

 

 

Registered Office :

Easton Ho, Easton On The Hill, STAMFORD, LINCOLNSHIRE, PE9 3NZ

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.10.2006

 

 

Date of Incorporation :

1932

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Miscellaneous Business Services

 

 

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

 

Maximum Credit Limit :

£217,000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

NAME OF THE COMPANY

 

CHARTERED INSTITUTE OF PURCHASING & SUPPLY

 

 

Legal Events

 

Number of Court Judgments

0

 

Value of all Court Judgments

0

 

Number of Mortgages and Charges

0

 

Maximum Credit                                                                                                     

 

£217,000

 

Associations

 

Parent Company

No

 

Number of Principal

1

 

Financial Summary

 

Latest Accounts Date

31 Oct 2006

 

Tangible Net Worth

£(1,546,000)

 

Turnover

£ 12,133,000

 

Identification

 

Main Trading Address              Easton Ho
Easton On The Hill
STAMFORD
LINCOLNSHIRE

                                                PE9 3NZ

                                                UNITED KINGDOM

  

   Telephone Number                01780-756777         

   Fax Number                            01780-751610       

   ID Number                              42-345-9833           

   Web Address                         http://www.cips.org/  

                                                                               

   Line of Business (SIC)         MISCELLANEOUS BUSINESS SERVICES (7399)

 

 

 Main Influencing Factors for Risk Evaluation

§                     This is a lower risk industry sector.

§                     There are a reasonable number of principals associated with this business.

§                     The cash figure for this business is strong.

§                     The liabilities to net worth ratio is weak.

§                     There are no or only a small number of trade experiences paid more than 91 days late.

§                     There are no outstanding CCJs or Scottish Decrees for this business or they are not material to the risk assessment.

 

 Rating & Score - Industry Sector Comparison               

 

 

 

History and Industry Comparison of  Failure Score


The graph below shows the history of the  Failure Score for CHARTERED INSTITUTE OF PURCHASING & SUPPLY over the last 12 months compared to the average for its industry group.

 

                        Comparison of Financial Strength

            Financial Strength of CHARTERED INSTITUTE OF PURCHASING & SUPPLY: N

            Total number of businesses in the industry with known Financial Strength 144,322 of these

§  119,354 (82.7%) have a higher Financial Strength.

§  24,968 (17.3%) have the same Financial Strength.

§  0 (0.0%) have a lower Financial Strength.

 

Commentary

 

§                     Today's Failure Score of  41 indicates that CHARTERED INSTITUTE OF PURCHASING & SUPPLY is less likely to fail than industry average.  

§                     Total number of businesses in the same industry group as CHARTERED INSTITUTE OF PURCHASING & SUPPLY : 417,896

§                     Average Industry Score: 34

 

 

 

 Payment Information                                

 

The agent collects in excess of 100 million payment experiences on European businesses each year. The information shown below indicates how  CHARTERED INSTITUTE OF PURCHASING & SUPPLY has been paying its bills.

 Average Days Beyond Terms      27

Paydex                                        54

 

   

Number of payment experiences (last 12 months) 12

                                                  

                                                  

Total Value of Experiences                                             £ 20,100

                                                  

                                                  

Average Value of Experiences                                         £ 1,675

 

   

Payment Experiences Summary

 

Value Bands
GBP

Number of Experiences

Total Value
GBP

% paid within terms

1-30
days

31-60
days

61-90
days

91+
days

> 100,000

-

-

-

-

-

-

-

50,000 - 99,999

-

-

-

-

-

-

-

15,000 - 49,999

-

-

-

-

-

-

-

5,000 - 14,999

-

-

-

-

-

-

-

1,000 - 4,999

7

18,500

46

11

-

31

12

< 1,000

5

1,600

100

-

-

-

-

Total

12

20,100

 

 

 

 

 

 

In some instances, payment beyond terms can be the result of overlooked or disputed invoices                              

                                                                                                                                                                       

                                                                                                                                                                       

                                                                                                                                                                       

          

   

 

 

 

 

 Payment Industry Comparison

 

 

 

 


    

Shown below is an industry comparison based on the 70,181 other businesses in same industry group as CHARTERED INSTITUTE OF PURCHASING & SUPPLY where the agent has payment experiences.

 

 

 

 

Comparison of Days Beyond Terms and Payment Score

CHARTERED INSTITUTE OF PURCHASING & SUPPLY

Pays 27 days beyond terms.

Paydex of 54

Upper quartile (top 25%)

pays within terms

Paydex of 80

Median (middle 50%)

pays 6 days beyond terms

Paydex of 76

Lower quartile (bottom 25%)

pays 19 days beyond terms

Paydex of 65

 

 

 

 

 Risk of Failure and Payment Performance - Industry Sector Comparison

 

 

 

 

  

 

 

 Commentary

 

 

 

 

 

CHARTERED INSTITUTE OF PURCHASING & SUPPLY pays it's bills on average 27 days beyond terms.

 

 

 

This is 21 days longer than the national average of 6 days beyond terms.

 

 

 

 

 

 

 

When compared to similar businesses CHARTERED INSTITUTE OF PURCHASING & SUPPLY pays slower than the industry average of 6 days beyond terms.

 

 

 

 

 

 

 

The  failure score of 41 predicts that the risk of failure within the next 12 months for CHARTERED INSTITUTE OF PURCHASING & SUPPLY is slightly greater than average.

 

 

 

This compares to an industry average  Failure Score this month of 34 and a national average of 50.

 

 

 

 

 

 

 

 

 

 

   

Public Notice information is added to the  Database and, if present, will appear in this section. This section was last updated from public sources on 23 Jul 2008.

                                                                                                                                                            

                                                                                                                                                            

Judgements

           

 

Year                Total Judgments                     Total Value     Closed Judgements                Value (Closed)

2008                0                                             0                      0                                             0

2007                0                                             0                      0                                             0

2006                0                                             0                      0                                             0

2005                0                                             0                      0                                             0

2004                0                                             0                      0                                             0

2003                0                                             0                      0                                             0

Total               0                                             0                      0                                             0

 

Mortgages and Charges

 

Number of registered charges: 0

 

 

Legal Filing Summary


All public notice information has been obtained in good faith from the appropriate public sources.

 

 

   


To gain additional insight into the principal(s) of this business, conduct a consumer credit search.

Mr Ken James, Chief Executive Officer

Date Appointed

02 Jun 2003


No other current associations

 

 

 

   

 

 

 

Company Name

Operates As

Year Started

% Shares owned

CIPS SERVICES LTD

EMPLOYMENT AGENCY

1991

-

 

 

 

 

 Operations                                                   

 

 

   

Operating as

SIC Code

NACE Code

UK SIC Code

MISCELLANEOUS BUSINESS SERVICES

7399

74.87

74.879

 

 

 

 

   

Professional chartered institute

Other Operating Details

Employees

90

 

 

 

   

 

During our investigation:

§                     Mrs Stella Orchard ,Receptionist confirmed general details in this report.

 

 

 

   

 

 

Fiscal
Consolidated
GBP
31 Oct 2006
(000's)

Fiscal
Consolidated
GBP
31 Oct 2004
(000's)

Sales Turnover

12,133

9,601

Profit / (Loss) Before Taxes

(281)

(108)

 

Equity Shareholders Funds

(1,546)

1,167

Tangible Net Worth

(1,546)

1,167

 

Total Fixed Assets

2,178

1,515

 

Total Assets

6,352

4,993

 

Total Current Assets

4,174

3,478

 

Total Current Liabilities

5,538

3,826

 

Net Current Assets (Liabilities)

(1,364)

(348)

 

Long Term Debt

2,360

-

 

Employees**

99

91

 

 

(** not in 000's)

 

 

 

 

 

 

 

 

Fiscal
Consolidated
GBP
31 Oct 2006
(000's)

Fiscal
Consolidated
GBP
31 Oct 2004
(000's)

 

Net Sales

12,133

9,601

 

Cost of sales

0

0

 

Gross Profit / (loss)

12,133

9,601

 

General Expenses

-

162

 

Other Operating charges

12,349

9,584

 

Net Operating Income

(216)

(145)

 

Other financial income

140

37

 

Total Financial Income

140

37

 

Other Group Financial Expenses

205

-

 

Total Financial Expenses

205

0

Profit / (Loss) Before Taxes

(281)

(108)

 

Profit / (Loss) After Taxes

(281)

(108)

 

Dividends

0

-

 

Retained Profit for the year

(281)

(108)

 

Reconciliation

 

Retained Earnings at start of year

(1,265)

1,275

 

 

 

 

Retained Profit for the year

(281)

(108)

 

 

 

 

Retained Earnings at end of year

(1,546)

1,167

 

 

 

 

NOTES

 

Number of Employees**

99

91

 

 

 

 

Directors Remuneration**

0

0

 

 

 

 

Payroll

3,479

2,726

 

 

 

 

Depreciation

252

119

 

 

 

 

(** not in 000's)

 

 

   

 

 

 

Fiscal
Consolidated
GBP
31 Oct 2006
(000's)

Fiscal
Consolidated
GBP
31 Oct 2004
(000's)

FIXED ASSETS

 

Land & Buildings

400

421

 

 

 

 

Fixtures & Equipment

600

252

 

 

 

 

TANGIBLE FIXED ASSETS

1,000

673

 

 

 

 

Long Term Investments

1,178

842

 

 

 

 

Total Fixed Assets

2,178

1,515

 

 

 

 

CURRENT ASSETS

 

Other

71

75

 

 

 

 

Stock & work in progress

71

75

 

 

 

 

Cash at bank / in hand

2,024

1,759

 

 

 

 

Trade Debtors

1,129

1,065

 

 

 

 

Other receivables

17

15

 

 

 

 

Prepayments

933

564

 

 

 

 

Total Current Assets

4,174

3,478

 

 

 

 

CURRENT LIABILITIES

 

Trade Creditors

1,595

730

 

 

 

 

Accruals / Deferred Income

3,728

2,926

 

 

 

 

Tax & Social Security

215

170

 

 

 

 

Total Current Liabilities

5,538

3,826

 

 

 

 

 

 

Net Current Assets (Liabilities)

(1,364)

(348)

 

 

 

 

 

 

Total Assets less Current Liabilities

814

1,167

 

 

 

 

LONG-TERM LIABILITIES

 

Other long term liabilities

2,360

-

 

 

 

 

Total Long Term Liabilities

2,360

-

 

 

 

 

 

 

Net Assets

(1,546)

1,167

 

 

 

 

Net Worth / Shareholders Funds

 

Retained Earnings / Profit & Loss Account

(1,546)

1,167

 

 

 

 

Equity Shareholders Funds

(1,546)

1,167

 

 

 

 

 

 

Tangible Net Worth

(1,546)

1,167

 

 

 

 

Notes to the Balance Sheet

 

Guarantees given to pay off indebtedness

No

No

 

 

 

 

 

 

 

 

 

 

AUDITORS/REGISTRARS:

 

 

 

 

 

 

 

 

AUDITORS

 

 

PKF (UK) LLP, Farringdon Place,20 Farringdon Road, London EC1M 3AB

 

 

SOLICITORS

 

 

Bristows, 3 Lincoln's Fields, London WC2A 3AA

 

 

SOLICITORS

 

 

Buckle Mellows, 45-51 Prestgate, Peterborough PE1 1LB

 

 

 

   

 

 

31 Oct 2006

31 Oct 2004

Profitability

Profit Margin (%)

(2.3)

(1.1)

 

 

 

 

Shareholders' Return (%)

-

(9.3)

 

 

 

 

Return On Capital (%)

(34.5)

(9.3)

 

 

 

 

Return On Assets (%)

(4.4)

(2.2)

 

 

 

 

 

Financial Status

Acid Test (x)

0.6

0.7

 

 

 

 

Current Ratio (x)

0.8

0.9

 

 

 

 

Solvency Ratio (%)

(510.9)

327.8

 

 

 

 

Fixed Assets/Net Worth (%)

(64.7)

57.7

 

 

 

 

Current Liabilities/Net Worth (%)

(358.2)

327.8

 

 

 

 

Current Liabilities/Stocks (%)

7,800.0

5,101.3

 

 

 

 

 

Asset Utility

Stock Turnover Rate

170.9

128.0

 

 

 

 

Collection Period (days)

34.0

40.5

 

 

 

 

Asset Turnover (%)

191.0

192.3

 

 

 

 

Sales / Net Working Capital (x)

(8.9)

(27.6)

 

 

 

 

Assets / Sales (%)

52.4

52.0

 

 

 

 

Creditors / Sales (days)

48.0

27.8

 

 

 

 

 

Employee

Capital / Employee*

8.2

12.8

 

 

 

 

Sales / Employee*

122.6

105.5

 

 

 

 

Profit / Employee*

(2.8)

(1.2)

 

 

 

 

Employee Average Wage*

35.1

30.0

 

 

 

 

 

(* in 000's)

 

 

 

 

 

   

 

2006 vs 2004

Turnover

26.37

 

Gross Profit

26.37

 

Net Operating Profit

(48.97)

Profit Before Tax

(160.19)

 

Profit After Tax

(160.19)

 

Net Profit for the year

(160.19)

 

Number of Employees

8.79

 

Profit / Employee

(133.33)

 

Current Assets

20.01

 

Total Assets

27.22

 

Current Liabilities

44.75

 

Net Current Assets (Liabilities)

(291.95)

 

Total Assets less Current Liabilities

(30.25)

 

Net Assets

(232.48)

 

 

 

 

 Auditors Opinions / Qualifications

 

 

 

 

 

 

   

 Year

 Qualified

 Auditors Opinions

31 Oct 2006

No

-

31 Oct 2004

No

-

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.42.30

UK Pound

1

Rs.84.03

Euro

1

Rs.66.42

 

 

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