MIRA
INFORM REPORT
|
Report Date : |
11.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
LANCHESTER WINE CELLARS LIMITED |
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Registered Office : |
Unit 2 Greencroft Estates, Tower Rd Annfield Plain,
Stanley, DH9 |
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Country : |
United Kingdom |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
12.09.1980 |
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Com. Reg. No.: |
01517126 |
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|
Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Importers and Distributors of Wine, Spirit and Cider |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
GBP 122,100 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
LANCHESTER WINE CELLARS LIMITED |
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Ultimate Holding Company |
LANCHESTER WINE CELLARS LTD |
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Trading Address |
Durham B Warehouse, Greencroft Indstl Est,STANLEY,DH9 7XP |
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Telephone |
01207-521234 |
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This company has an average risk status and should be
treated with a degree of caution |
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Credit Limit |
GBP 122,100 |
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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 1,195,400 |
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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) |
|
Registration Number |
01517126 |
|
Date of Incorporation |
12/09/1980 |
|
Registered Office |
Unit 2 Greencroft Estates, Tower Rd Annfield Plain,
Stanley, DH9 |
|
Date of Last Annual Return to
Registry |
31/07/2007 |
|
Activities |
Wine, spirit and cider importers and distributors
|
|
Accounts |
The last filed accounts cover the period to 30/06/2007 and
were filed on 21/11/2007 |
Recently Filed Documents
Details
of the most recent documents
|
Date
Received |
Description |
|
31/07/2007 |
Annual Return |
|
30/06/2007 |
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
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DIRECTOR |
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Occupation |
WINE IMPORTER |
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Address |
FORD VIEW , FORD ROAD LANCHESTER , DURHAM
, DH7 0SE |
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Country of Origin |
BRITISH |
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Date of Birth |
24/12/1952 |
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|
Appointment Date |
10/08/1991 |
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Other Appointments |
GREENCROFT BOTTLING COMPANY
LIMITED, HOLY ISLAND WINE & SPIRIT COMPANY LIMITED, LANCHESTER
PROPERTIES LIMITED, LANCHESTER WINE CELLARS LIMITED, PARVERRE MARKETING
LIMITED, UNIVERSAL WINES & SPIRITS LIMITED |
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|
DIRECTOR |
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Occupation |
COMPANY SECRETARY |
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|
Address |
17, FALCON WAY LARKSHILL ESH WINNING , DURHAM
, DH7 9JW |
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|
Country of Origin |
BRITISH |
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Date of Birth |
22/04/1952 |
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|
Appointment Date |
01/08/2001 |
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Other Appointments |
GREENCROFT BOTTLING COMPANY LIMITED, LANCHESTER WINE
CELLARS LIMITED |
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DIRECTOR |
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Occupation |
DIRECTOR |
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|
Address |
8, RUABON CLOSE BARNES PARK , CRAMLINGTON
, NORTHD , NE23 7XG |
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Country of Origin |
BRITISH |
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Date of Birth |
29/05/1945 |
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Appointment Date |
01/05/2007 |
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Other Appointments |
LANCHESTER WINE CELLARS LIMITED |
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DIRECTOR |
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Occupation |
DIRECTOR |
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|
Address |
8, THE PADDOCK LANCHESTER , DURHAM
, DH7 0HW |
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Country of Origin |
BRITISH |
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|
Date of Birth |
08/12/1964 |
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|
Appointment Date |
01/05/2007 |
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Other Appointments |
GREENCROFT BOTTLING COMPANY
LIMITED, HOLY ISLAND WINE & SPIRIT COMPANY LIMITED, LANCHESTER
WINE CELLARS LIMITED, UNIVERSAL WINES & SPIRITS LIMITED |
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|
DIRECTOR |
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Occupation |
HUMAN RESOURCES MANAGER |
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|
Address |
FORD VIEW , FORD ROAD LANCHESTER , DURHAM
, DH7 0SE |
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Country of Origin |
BRITISH |
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Date of Birth |
27/03/1954 |
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Appointment Date |
10/08/1991 |
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Other Appointments |
GREENCROFT BOTTLING COMPANY
LIMITED, LANCHESTER PROPERTIES LIMITED, LANCHESTER WINE CELLARS
LIMITED |
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SECRETARY |
MS AUDREY CLOSE |
||
|
Address |
17 FALCON WAY, LARKSHILL,
ESH WINNING , DURHAM , DH7 9JW |
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Country of Origin |
BRITISH |
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Date of Birth |
22/04/1952 |
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Appointment Date |
01/02/1998 |
Recently Resigned Directors (last
3)
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DIRECTOR |
MICHAEL J NEAL |
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Occupation |
WINES & SPIRIT SALESMAN |
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Address |
75 , FAIRGARTH DRIVE , CARNFORTH , LANCS
, - - |
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Date of Birth |
11/11/1947 |
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Resignation Date |
31/07/2002 |
|
DIRECTOR |
MARGARET ELIZABETH LISLE |
|
Address |
15 , MEADOW WAY , DURHAM , CO DURHAM
, - - |
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Date of Birth |
16/10/1942 |
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Resignation Date |
01/12/2001 |
Share Summary
|
Share Currency: |
GBP |
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
Voting %age |
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Mr Anthony Austin Cleary |
ORD |
75,000 |
75,000.00 |
75.00 |
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Veronica Anne Cleary |
ORD |
25,000 |
25,000.00 |
25.00 |
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Mortgages and Charges
|
|
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Total Registered |
9 |
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Total Outstanding |
6 |
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Total Satisfied |
3 |
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Most Recent Mortgage |
03/12/2007 |
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Date Registered |
11/12/2007 |
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Type |
395 |
|
Date Created |
03/12/2007 |
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Lender |
HSBC 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 |
ANY CREDIT BALANCE UNDER THE AGREEMENT FOR THE PURCHASE OF
DEBTS SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
|
Satisfied? |
No |
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|
Date Registered |
07/11/2007 |
|
Type |
395 |
|
Date Created |
02/11/2007 |
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Lender |
HSBC INVOICE FINANCE (UK) LTD (THE SECURITY HOLDER) |
|
Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT
CREATING OR EVIDENCING THE CHARGE |
|
Details |
BY WAY OF FLOATING CHARGE ALL THE UNDERTAKING OF THE
COMPANY AND ALL ASSETS WHATSOEVER AND WHERESOEVER INCLUDING STOCK IN TRADE
AND UNCALLED CAPITAL BUT EXCLUDING ANY DEBTS AND ASSOCIATED RIGHTS RELATING
THERETO |
|
Satisfied? |
No |
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|
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|
Date Registered |
15/03/2006 |
|
Type |
395 |
|
Date Created |
10/03/2006 |
|
Lender |
HSBC 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 |
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|
Date Registered |
18/01/2006 |
|
Type |
395 |
|
Date Created |
16/01/2006 |
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Lender |
HSBC INVOICE FINANCE (UK) LTD |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT
CREATING OR EVIDENCING THE CHARGE |
|
Details |
BY WAY OF FIXED EQUITABLE CHARGE ALL DEBTS PURCHASED OR
PURPORTED TO BE PURCHASED BY THE SECURITY HOLDER PURSUANT TO AN AGREEMENT FOR
THE PURCHASE OF DEBTS BETWEEN THE SECURITY HOLDER AND THE COMPANY (INCLUDING
ASSOCIATED RIGHTS RELATING THERETO) WHICH FAIL TO VEST EFFECTIVELY OR
ABSOLUTELY IN THE SECURITY HOLDER FOR ANY REASON |
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Satisfied? |
No |
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|
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|
Date Registered |
18/11/2003 |
|
Type |
395 |
|
Date Created |
17/11/2003 |
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Lender |
HSBC INVOICE FINANCE (UK) LTD (SECURITY HOLDER) |
|
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 |
BY WAY OF FIXED EQUITABLE CHARGE ALL DEBTS PURCHASED OR
PURPORTED TO BE PURCHASED BY THE SECURITY HOLDER PURSUANT TO AN AGREEMENT FOR
THE PURCHASE OF DEBTS BETWEEN THE SECURITY HOLDER AND THE COMPANY (INCLUDING
ASSOCIATED RIGHTS RELATING THERETO) WHICH FAIL TO VEST EFFECTIVELY OR
ABSOLUTELY IN THE SECURITY HOLDER FOR ANY REASON |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
24/02/1996 |
|
Type |
395 |
|
Date Created |
21/02/1996 |
|
Lender |
HERMES KREDITVERSICHERUNGS AG |
|
Secured On |
LIMITED TO ONE MILLION POUNDS ALL MONIES DUE OR TO BECOME
DUE FROM THE COMPANY TO THE CHARGEE |
|
Details |
ALL STOCK IN TRADE ANDOR STOCK IN BONDS |
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Satisfied? |
Fully |
|
|
|
|
Date Registered |
05/12/1992 |
|
Type |
395 |
|
Date Created |
04/12/1992 |
|
Lender |
AEGON INSURANCE }(UK) LIMITED |
|
Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE |
|
Details |
ALL STOCK IN TRADE ANDOR STOCK IN BOND OF THE COMPANY NOW
OR IN THE FUTURE OF THE OWNERSHIP OF THE COMPANY |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
01/02/1991 |
|
Type |
9999 |
|
Date Created |
18/01/1991 |
|
Lender |
MIDLAND BANK PLC |
|
Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Details |
FH, LIBRARY BUILDINGS, NEW BIGGIN LANE LANCASTER, COUNTY
DURHAM. |
|
Satisfied? |
No |
|
|
|
|
Date Registered |
21/12/1981 |
|
Type |
9999 |
|
Date Created |
15/12/1981 |
|
Lender |
MIDLAND 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 CHARGE ON UNDERTAKING AND ALL PROPERTY
AND ASSETS PRESENT AND FUTURE INCLUDING BOOKDEBTS AND UNCALLED CAPITAL. |
|
Satisfied? |
No |
Public Record Information
Summary
of CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
|
|
|
|
Activities |
Wine, spirit and cider importers and distributors
|
|
Sic Code |
Description |
|
5134 |
Wholesale of alcoholic and other beverages |
|
Staff Employed |
29 |
|
Auditors |
Mazars Neville Russell |
|
Auditors Notes |
No Qualification. The Auditors have expressed a clean
opinion (i.e. unqualified with no referrals) on the latest accounts. |
|
Bankers |
HSBC Bank Plc |
|
Sort Codes |
401931 |
Financial Data
Profit
and Loss
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
30/06/2007 |
30/06/2006 |
30/06/2005 |
30/06/2004 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
|
GROSS PROFIT |
2,244,701 |
1,760,210 |
1,572,895 |
1,551,758 |
|
Other Expenses |
1,207,853 |
1,007,726 |
825,382 |
792,165 |
|
General administration costs (-) |
877,400 |
654,962 |
580,027 |
505,552 |
|
Wages and Salaries |
867,453 |
732,516 |
514,309 |
301,115 |
|
Depreciation |
106,674 |
94,559 |
91,501 |
67,348 |
|
Net Operating Profit(Loss) |
159,448 |
212,101 |
167,486 |
420,774 |
|
Total Non Trading Income |
0 |
0 |
0 |
0 |
|
Interest expenses & similar (-) |
41,474 |
43,004 |
23,618 |
50,148 |
|
Financial Expenses |
41,474 |
50,793 |
23,618 |
50,148 |
|
PRE TAX PROFIT |
117,974 |
161,308 |
143,868 |
370,626 |
|
Other Taxation |
3,602 |
6,315 |
16,719 |
0 |
|
Taxation |
44,277 |
37,643 |
41,520 |
113,934 |
|
PROFIT AFTER TAX |
70,095 |
117,350 |
85,629 |
256,692 |
|
Net Profit |
70,095 |
117,350 |
85,629 |
256,692 |
|
Dividends Payable |
29,000 |
26,000 |
19,500 |
20,000 |
|
RETAINED PROFITS |
41,095 |
91,350 |
66,129 |
236,692 |
Balance Sheet
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
30/06/2007 |
30/06/2006 |
30/06/2005 |
30/06/2004 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL FIXED ASSETS |
675,286 |
710,672 |
635,382 |
587,049 |
|
Land & buildings |
241,739 |
251,400 |
259,506 |
262,722 |
|
Plant, machinery & equipment |
317,484 |
343,209 |
259,813 |
208,264 |
|
Intermediate Assets |
116,063 |
116,063 |
116,063 |
116,063 |
|
TOTAL CURRENT ASSETS |
4,497,199 |
4,686,288 |
3,285,961 |
3,148,008 |
|
Stocks |
2,550,214 |
2,690,295 |
1,645,719 |
1,720,620 |
|
Trade Debtors |
1,677,786 |
1,864,438 |
1,385,394 |
1,112,768 |
|
Other Receivables |
44,513 |
24,950 |
130,503 |
153,886 |
|
Prepaid expenses |
148,050 |
94,300 |
119,358 |
79,745 |
|
Group Loans |
60,761 |
- |
99 |
42,527 |
|
Cash |
15,875 |
12,305 |
4,888 |
38,363 |
|
TOTAL ASSETS |
5,172,485 |
5,396,960 |
3,921,343 |
3,735,057 |
|
TOTAL CURRENT LIABILITIES |
2,966,103 |
3,256,929 |
1,915,008 |
1,784,513 |
|
Trade Creditors |
1,225,239 |
869,313 |
643,148 |
558,803 |
|
Bank Overdraft |
211,742 |
170,727 |
863,592 |
219,345 |
|
Taxes |
157,001 |
107,079 |
87,335 |
192,360 |
|
Other Current Liabilities |
1,059,940 |
1,779,261 |
77,014 |
724,202 |
|
Due From Group |
176,995 |
243,408 |
133,621 |
- |
|
Hire Purchase |
88,386 |
79,141 |
87,215 |
5,316 |
|
Accruals & deferred income |
46,800 |
8,000 |
23,083 |
84,487 |
|
WORKING CAPITAL |
1,531,096 |
1,429,359 |
1,370,953 |
1,363,495 |
|
TOTAL LONG TERM LIABS |
54,633 |
97,270 |
54,924 |
65,262 |
|
Taxation |
24,293 |
33,652 |
23,573 |
10,500 |
|
Total Hire Purchase / Leasing |
30,340 |
49,409 |
- |
- |
|
NET ASSETS/(LIABILITIES) |
2,206,382 |
2,140,031 |
2,006,335 |
1,950,544 |
|
SHARE CAPITAL + RESERVES |
2,151,749 |
2,042,761 |
1,951,411 |
1,885,282 |
|
Issued Share Capital |
100,000 |
100,000 |
100,000 |
100,000 |
|
Reserves |
134,344 |
137,540 |
140,736 |
143,932 |
|
Profit and Loss account |
1,849,512 |
1,805,221 |
1,710,675 |
1,641,350 |
|
Investment grants |
67,893 |
- |
- |
- |
|
SHAREHOLDERS FUNDS |
2,151,749 |
2,042,761 |
1,951,411 |
1,885,282 |
|
CAPITAL EMPLOYED |
2,206,382 |
2,140,031 |
2,006,335 |
1,950,544 |
|
TANGIBLE NET WORTH |
2,151,749 |
2,042,761 |
1,951,411 |
1,885,282 |
Key Credit Ratios
|
Accounts Date |
30/06/2007 |
30/06/2006 |
30/06/2005 |
30/06/2004 |
|
Current Ratio |
1.52 |
1.44 |
1.72 |
1.76 |
|
Profit Before Tax |
- |
- |
- |
0.06 |
|
Creditors Days (D.P.O) |
- |
- |
- |
42.33 |
|
Quick Ratio |
0.66 |
0.61 |
0.86 |
0.80 |
|
Return on Assets |
2.33 |
3.05 |
3.78 |
10.24 |
|
T.N.W/Total Assets |
0.42 |
0.38 |
0.50 |
0.50 |
|
Return on Capital |
5.35 |
7.54 |
7.17 |
19.00 |
|
Working Capital/Sales |
- |
- |
- |
0.00 |
|
Equity Gearing |
0.89 |
0.61 |
0.83 |
1.80 |
|
Stock Turnover |
- |
- |
- |
0.00 |
|
Solvency (%) |
140.39 |
164.20 |
100.95 |
98.12 |
|
|
Financial Summary
|
Operating Profit |
Totalled GBP 159,448,units In the period prior a
profit of GBP 212,101,units was achieved. |
|
Pre Tax |
The subject made a profit of GBP 117,974,units
compared with a profit of GBP 161,308,units in the previous period. |
|
Working Capital |
The company's working capital improved in the period by 7%
|
|
Tangible
Net Worth |
Net worth increased by 108,988 during the period and now
stands at GBP 2,151,749,units |
|
Fixed
Assets |
The subjects fixed assets reduced during the period by GBP
35,386 to GBP 559,223,units and are now 11% of total assets compared
with 11% in the previous period |
|
Long
Term Liabilities |
The company's long term liabilities reduced during the
period by 44% and are now 3% of net worth compared with 5% in the previous
period |
|
Long
Term Liabilities |
Long term liabilities are now 1% of total assets compared
with 2% in the previous period |
Previous Searches on this Company
|
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|
Last
3 Months |
Last
6 Months |
Last
12 Months |
|
0 |
0 |
4 |
|
|
||
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%)