MIRA
INFORM REPORT
|
Report Date : |
27.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FKI LOGISTEX LIMITED |
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Registered Office : |
Falcon Works, Po Box 7713 Meadow Lane, Loughborough, LE11
1ZF |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.11.1937 |
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Com. Reg. No.: |
00334189 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Design, Manufacture, Installation of Materials Handling
Equipment |
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 : |
GBP 129,800 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Identification Details
|
Subject Reported on |
FKI LOGISTEX LIMITED |
|
Ultimate Holding Company |
FKI LOGISTEX LTD |
|
Trading Address |
MILLER RD,CORRINGHAM RD IND EST,GAINSBOROUGH,DN21 1QE |
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Telephone |
01427-810810 |
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This company's Credit Limit should be regarded as an
absolute limit and may require some form of guarantee |
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Credit Limit |
GBP 129,800 |
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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 1,080,600 |
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Buying from this company? The Contract Limit is the
recommended aggregate annual value for supply contracts. |
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Significant Event
|
Please note address change. |
Official Company Data
|
Legal Form |
Private Limited Liability Company (GB) |
|
Registration Number |
00334189 |
|
Date of Incorporation |
30/11/1937 |
|
Registered Office |
Falcon Works, Po Box 7713 Meadow Lane, Loughborough, LE11
1ZF |
|
Date of Last Annual Return to
Registry |
19/10/2007 |
|
Activities |
Design, Manufacture, Installation of materials handling
equipment |
|
Accounts |
The last filed accounts cover the period to 31/03/2007 and
were filed on 01/10/2007 |
Recently Filed Documents
Details
of the most recent documents
|
Date
Received |
Description |
|
19/10/2007 |
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 |
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Occupation |
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Address |
MIRES FARM, BACK O THE HEIGHTS , RISHWORTH
, SOWERBY BRIDGE , WEST YORKSHIRE , HX6 4RF |
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Date of Birth |
14/05/1958 |
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|
Appointment Date |
17/06/2004 |
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Other Appointments |
AMCO MARELLI LIMITED, ANGLIAN ROPE AND RIGGING
LIMITED, AUTOMATED SYSTEMS INTEGRATORS (ASI) LIMITED, BABCOCK
TRANSFORMERS LIMITED, BABCOCK TRANSFORMERS LIMITED, BEDFORD (OLDCO)
LIMITED, BLACK HEATH LIMITED, BRIDGEWIRE LIMITED, BRIDON
(NEWCO 15) LIMITED, BRIDON (NEWCO 16) LIMITED, BRIDON (NEWCO 7)
LIMITED, BRIDON (NEWCO 8) LIMITED, BRIDON COATBRIDGE
LIMITED, BRIDON COMPOSITES LIMITED, BRIDON DISTRIBUTION
LIMITED, BRIDON ENERGY LIMITED, BRIDON EXPORT SERVICES
LIMITED, BRIDON FIBRES AND PLASTICS LIMITED, BRIDON FIBRES
LIMITED, BRIDON FISHING LIMITED, BRIDON INTERNATIONAL
LTD., BRIDON OFFSHORE SYSTEMS LIMITED, BRIDON OVERSEAS HOLDINGS
LIMITED, BRIDON P L C , BRIDON PENSION TRUST LIMITED, BRIDON
PROPERTY DEVELOPMENTS LIMITED, BRIDON ROPES DISTRIBUTION
LIMITED, BRIDON ROPES LIMITED, BRIDON STRUCTURES
LIMITED, BRIDON TWINES LIMITED, BRIDON WIRE LIMITED, BRISTOL
WIRE ROPE COMPANY LIMITED(THE), BRITISH ROPES LIMITED, BRUSH
ELECTRICAL ENGINEERING COMPANY LIMITED, BRUSH ELECTRICAL MACHINES
LIMITED, BRUSH MOTORS INTERNATIONAL LIMITED, BRUSH SWITCHGEAR
LIMITED, BRUSH TRACTION , BRUSH TRANSFORMERS LIMITED, CLECO
(SCOTLAND) LIMITED, CLECO EUROPE LIMITED, CLECO SERVICES
LIMITED, CLECO SYSTEMS LIMITED, CRISPLANT UK LIMITED, CROSBY
EUROPE (UK) LIMITED, D.R.I.PENSIONS TRUST LIMITED, DANKS HOLDINGS
LIMITED, DERRITRON HOLDINGS LIMITED, ELECTRO DYNAMIC
LIMITED, ELEPHANT CHAIN BLOCK CO. LIMITED (only 1st 50 directorships
shown) |
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DIRECTOR |
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Occupation |
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Address |
WOODLAND HOUSE 77A, MAIN ROAD KEMPSEY
, WORCESTER , WORCS , WR5 3NB |
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Date of Birth |
02/07/1957 |
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Appointment Date |
17/06/2004 |
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Other Appointments |
AUTOMATED SYSTEMS INTEGRATORS (ASI) LIMITED, CLECO
(SCOTLAND) LIMITED, CLECO EUROPE LIMITED, CLECO SERVICES
LIMITED, CLECO SYSTEMS LIMITED, CRISPLANT UK
LIMITED, FILTRONIC PLC , FKI ENGINEERING LIMITED, FKI LOGISTEX
CONVEYORS LIMITED, FKI LOGISTEX EVOLUTION LIMITED, FKI LOGISTEX
GROUP LIMITED, FKI LOGISTEX LIMITED, FKI PLC, G FLOW SYSTEMS
LIMITED, IO SYSTEMS AND PROGRAMMING LIMITED, IO SYSTEMS
LIMITED, LOGISTEX LIMITED |
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SECRETARY |
MR ANTONIO VENTRELLA |
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Address |
21 LADY BYRON LANE, KNOWLE , SOLIHULL
, WEST MIDLANDS |
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Country of Origin |
BRITISH |
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Date of Birth |
27/12/1953 |
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Appointment Date |
13/01/2005 |
Recently Resigned Directors (last
3)
|
DIRECTOR |
MARTIN CHARLES JINKS |
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Occupation |
COMMERCIAL DIRECTOR |
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Address |
1 , BREWERY COURT , PETERBOROUGH , - - |
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Country of Origin |
BRITISH |
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Date of Birth |
19/10/1966 |
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Resignation Date |
18/04/2005 |
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DIRECTOR |
TREVOR ANTHONY PEMBERTON |
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Occupation |
COMPANY DIRECTOR |
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Address |
SADDLERS COTTAGE , WATERFALL WAY , MARKET
HARBOROUGH , LEICS , - - |
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Country of Origin |
BRITISH |
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Date of Birth |
11/05/1955 |
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Resignation Date |
18/04/2005 |
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DIRECTOR |
ANDREW JOHN SMITH |
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Occupation |
COMPANY DIRECTOR |
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Address |
SKOMERHOUSE 115 , LUBENHAM HILL , MARKET
HARBOROUGH , LEICS , - - |
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Country of Origin |
BRITISH |
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Date of Birth |
06/04/1966 |
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Resignation Date |
18/04/2005 |
Share Summary
|
Share information is not held for this company. |
Mortgages and Charges
|
Total Registered |
5 |
|
Total Outstanding |
0 |
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Total Satisfied |
5 |
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Most Recent Mortgage |
15/06/2000 |
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Date Registered |
28/06/2000 |
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Type |
395 |
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Date Created |
15/06/2000 |
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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 |
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? |
Fully |
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|
|
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Date Registered |
17/07/1993 |
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Type |
395 |
|
Date Created |
15/07/1993 |
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Lender |
BARCLAYS MERCANTILE BUSINESS FINANCE LIMITED |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE |
|
Details |
ALL ITS RIGHT TITLE AND INTEREST OF THE COMPANY IN THE SUB
LEASES IN RESPECT OF EQUIPMENT TOGETHER WITH THE BENEFIT OF ALL GUARANTEES
ETC |
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Satisfied? |
Fully |
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|
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Date Registered |
29/05/1992 |
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Type |
395 |
|
Date Created |
19/05/1992 |
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Lender |
BARCLAYS 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? |
Fully |
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|
|
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Date Registered |
14/08/1990 |
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Type |
9999 |
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Date Created |
31/07/1990 |
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Lender |
BARCLAYS 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 |
PIECE OF LAND CONTAINING AS AREA OF 3.95 ACRES OF
THEREABOUTS SITUATE AT MARKET HARBOROUGH LEICESTERSHIRE |
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Satisfied? |
Fully |
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|
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Date Registered |
31/03/1988 |
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Type |
9999 |
|
Date Created |
18/03/1988 |
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Lender |
BARCLAYS 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 |
FLAT 11D THIRD FLOOR WEST 355 KINGS ROAD 4 BOROUGH OF
KENSINGTON AND CHELSEA TNO:- NGL 559659 |
|
Satisfied? |
Fully |
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|
Public Record Information
Summary
of CCJ's/Scottish Decrees
|
There are 0 exact unsatisfied CCJs totalling GBP 0 in the
last 72 months |
Details
of most recent CCJ's/Scottish Decrees
|
04/07/2006, a Judgment of "GBP" 224 was
"Satisfied" in NORTHAMPTON court (Case No. 6XQ81154 ) against F K I
Logistex Ltd, University Wy, Cranfield Techn Cranfield, Bedford,
Bedfordshire, MK43 0EQ |
|
27/03/2006, a Judgment of "GBP" 224 was made in
NORTHAMPTON court (Case No. 6XQ81154 ) against F K I Logistex Ltd, University
Way, Cranfield Techn Cranfield, Bedford, Bedfordshire, MK43 0EQ |
Operations
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|
Activities |
Design, Manufacture, Installation of materials handling
equipment |
|
Sic Code |
Description |
|
7484 |
Other business activities not elsewhere classified |
|
Staff Employed |
650 |
|
Auditors |
Ernst & Young LLP |
|
Auditors Notes |
No Qualification. The Auditors have expressed a clean
opinion (i.e. unqualified with no referrals) on the latest accounts. |
|
Bankers |
Barclays Bank PLC |
|
Sort Codes |
204911 |
Financial Data
|
The following figures are shown in units of 000 |
|
Profit and Loss |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Consolidated? |
No |
No |
No |
No |
|
SALES |
64,210 |
84,317 |
51,096 |
39,527 |
|
Export Sales |
22,041 |
19,292 |
3,466 |
6,163 |
|
Cost of goods sold |
57,084 |
74,481 |
44,320 |
34,674 |
|
GROSS PROFIT |
7,126 |
9,836 |
6,776 |
4,853 |
|
General administration costs (-) |
8,329 |
7,124 |
4,677 |
2,868 |
|
Wages and Salaries |
18,023 |
17,419 |
14,097 |
11,279 |
|
Depreciation |
292 |
295 |
211 |
189 |
|
Net Operating Profit(Loss) |
-1,203 |
2,712 |
2,099 |
1,985 |
|
Group Non Trading Income |
117 |
165 |
160 |
- |
|
Other financial income |
993 |
561 |
559 |
- |
|
Total Non Trading Income |
1,110 |
726 |
761 |
0 |
|
Interest expenses & similar (-) |
1,245 |
885 |
128 |
4 |
|
Financial Expenses |
1,245 |
885 |
892 |
224 |
|
PRE TAX PROFIT |
-1,338 |
2,553 |
1,968 |
1,761 |
|
Other Taxation |
48 |
- |
- |
- |
|
Taxation |
1,200 |
- |
- |
- |
|
PROFIT AFTER TAX |
-2,586 |
2,553 |
1,968 |
1,761 |
|
Net Loss |
2,586 |
- |
- |
- |
|
Dividends Payable |
0 |
0 |
0 |
0 |
|
RETAINED PROFITS |
- |
2,553 |
1,968 |
1,761 |
Balance Sheet
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL FIXED ASSETS |
2,765 |
2,078 |
1,671 |
2,781 |
|
Plant, machinery & equipment |
1,815 |
1,128 |
357 |
278 |
|
Intermediate Assets |
950 |
950 |
978 |
978 |
|
TOTAL CURRENT ASSETS |
31,259 |
44,597 |
34,073 |
19,691 |
|
Stocks |
1,577 |
1,511 |
836 |
934 |
|
Trade Debtors |
21,197 |
22,996 |
8,673 |
8,007 |
|
Other Receivables |
647 |
1,734 |
- |
- |
|
Prepaid expenses |
1,111 |
657 |
1,870 |
666 |
|
Group Loans |
4,348 |
9,455 |
9,329 |
8,818 |
|
Cash |
1,954 |
8,044 |
9,719 |
783 |
|
Tax Recoverable |
200 |
200 |
384 |
483 |
|
own shares |
225 |
- |
3,262 |
- |
|
TOTAL ASSETS |
34,024 |
46,675 |
35,744 |
22,472 |
|
TOTAL CURRENT LIABILITIES |
20,512 |
30,376 |
21,366 |
9,868 |
|
Trade Creditors |
7,364 |
21,415 |
9,066 |
5,161 |
|
Bank Overdraft |
5,819 |
852 |
298 |
873 |
|
Taxes |
1,729 |
514 |
2,363 |
426 |
|
Other Current Liabilities |
1,529 |
3,677 |
5,439 |
346 |
|
Due From Group |
2,560 |
3,918 |
2,962 |
1,821 |
|
Accruals & deferred income |
1,511 |
- |
1,238 |
1,239 |
|
WORKING CAPITAL |
10,747 |
14,221 |
12,707 |
9,823 |
|
TOTAL LONG TERM LIABS |
3,787 |
4,340 |
4,171 |
4,360 |
|
Taxation |
48 |
- |
- |
- |
|
Other Long Term Liabilities |
3,739 |
4,340 |
4,171 |
3,830 |
|
NET ASSETS/(LIABILITIES) |
13,512 |
16,299 |
14,378 |
12,604 |
|
SHARE CAPITAL + RESERVES |
9,725 |
11,959 |
10,207 |
8,244 |
|
Issued Share Capital |
954 |
954 |
954 |
954 |
|
Share Premium Accounts |
3,355 |
3,355 |
3,355 |
3,355 |
|
Reserves |
251 |
251 |
709 |
709 |
|
Profit and Loss account |
5,165 |
7,399 |
5,189 |
3,226 |
|
SHAREHOLDERS FUNDS |
9,725 |
11,959 |
10,207 |
8,244 |
|
CAPITAL EMPLOYED |
13,512 |
16,299 |
14,378 |
12,604 |
|
TANGIBLE NET WORTH |
9,725 |
11,959 |
10,207 |
8,244 |
Key Credit Ratios
|
Accounts Date |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
|
Current Ratio |
1.52 |
1.47 |
1.59 |
2.00 |
|
Profit Before Tax |
-0.02 |
0.03 |
0.04 |
0.04 |
|
Creditors Days (D.P.O) |
47.09 |
104.95 |
74.66 |
54.33 |
|
Quick Ratio |
1.45 |
1.42 |
1.56 |
1.90 |
|
Return on Assets |
-4.05 |
5.58 |
5.66 |
8.19 |
|
T.N.W/Total Assets |
0.29 |
0.26 |
0.29 |
0.37 |
|
Return on Capital |
-9.90 |
15.66 |
13.69 |
13.97 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Equity Gearing |
0.03 |
0.03 |
0.02 |
0.02 |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
|
Solvency (%) |
249.86 |
290.29 |
250.19 |
172.59 |
|
|
Financial Summary
|
Turnover |
Turnover decreased by more than 24% in the period.
Turnover totalled GBP 64,210,000 for the period. |
|
Operating Loss |
Totalled GBP -1,203,000 In the period prior a profit
of GBP 2,712,000 was achieved. |
|
Pre Tax |
The subject made a loss of GBP 1,338,000 compared
with a profit of GBP 2,553,000 in the previous period. |
|
Working Capital |
The company's working capital decreased in the period by
24% |
|
Tangible Net Worth |
Net worth reduced by 2,234,000 during the period and now
stands at GBP 9,725,000 |
|
Fixed Assets |
The subjects fixed assets increased during the period by
GBP 687,000 to GBP 1,815,000 and are now 5% of total assets
compared with 2% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities increased during the
period by 22% and are now 54% of net worth compared with 36% in the previous
period |
|
Long Term Liabilities |
Long term liabilities are now 16% of total assets compared
with 9% in the previous period |
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%)