MIRA
INFORM REPORT
|
Report Date : |
08.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
BUHLER SORTEX LIMITED |
|
|
|
|
Registered Office : |
20 Atlantis Ave, London, E16 2BF |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
01.05.1947 |
|
|
|
|
Com. Reg. No.: |
00434274 |
|
|
|
|
Legal Form : |
Private Limited Liability Company (GB) |
|
|
|
|
Line of Business : |
Manufacturers of Food Products Machinery |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
GBP 2,131,800 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
Company Identification Details
|
Subject Reported on |
BUHLER SORTEX LIMITED |
|
Holding Company |
BUHLER UK HOLDINGS LTD |
|
Ultimate Holding Company |
Bhler Holding AG |
|
Trading Address |
20 ATLANTIS AVE,,LONDON,E16 2BF |
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|
|
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Telephone |
020-7055-7777 |
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Very Low Risk - There is every confidence this company will prove good
for the assigned Credit Limit |
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|
|
|
|
|
Credit Limit |
GBP 2,131,800 |
|
|
|
Selling to this company? The Credit Limit is the recommended maximum
outstanding debtor exposure at any one time. |
|
|
|
|
|
|
Contract Limit |
GBP 21,456,700 |
|
|
|
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 |
00434274 |
|
Date of Incorporation |
01/05/1947 |
|
Registered Office |
20 Atlantis Ave, London, E16 2BF |
|
Date of Last Annual Return to Registry |
01/05/2007 |
|
Activities |
Manufacturers of food products machinery |
|
Accounts |
The last filed accounts cover the period to 31/12/2006 and were filed
on 10/09/2007 |
Recently Filed Documents
Details of the
most recent documents
|
Date Received |
Description |
|
01/05/2007 |
Annual Return |
|
31/12/2006 |
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 |
|
|
|
Occupation |
MANAGING DIRECTOR |
|
|
Address |
38, THE BROADWAY , AMERSHAM , BUCKS
, HP7 0HJ |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
21/11/1947 |
|
|
Appointment Date |
01/02/1993 |
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|
Other Appointments |
BUHLER SORTEX LIMITED, SORTEX LIMITED |
|
|
DIRECTOR |
|
|
|
Occupation |
|
|
|
Address |
6, OLDFIELD MEWS HIGHGATE , LONDON , N6 5XA |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
20/01/1961 |
|
|
Appointment Date |
06/11/1998 |
|
|
Other Appointments |
BUHLER SORTEX LIMITED, OLDFIELD MEWS OWNERS ASSOCIATION
LIMITED, SORTEX LIMITED |
|
|
DIRECTOR |
|
|
|
Occupation |
CUSTOMER SERVICES DIRECTOR |
|
|
Address |
3, OAKLANDS SOUTH WONSTON , WINCHESTER , HANTS
, SO21 3HZ |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
04/10/1955 |
|
|
Appointment Date |
16/06/1998 |
|
|
Other Appointments |
BUHLER SORTEX LIMITED |
|
|
DIRECTOR |
|
|
|
Occupation |
SALES DIRECTOR |
|
|
Address |
1, CAMERON CLOSE , CRANLEIGH , SURREY
, GU6 8EB |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
23/11/1953 |
|
|
Appointment Date |
23/06/1998 |
|
|
Other Appointments |
BUHLER SORTEX LIMITED, P C E (UK) LTD |
|
|
DIRECTOR |
|
|
|
Occupation |
MARKETING DIRECTOR |
|
|
Address |
5, BLAGDENS CLOSE , LONDON , N14 6DE |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
05/12/1961 |
|
|
Appointment Date |
25/09/2000 |
|
|
Other Appointments |
BUHLER SORTEX LIMITED |
|
|
DIRECTOR |
|
|
|
Occupation |
RICE UNIT DIRECTOR |
|
|
Address |
4, PARKFIELDS , WELWYN GARDEN CITY , HERTS
, AL8 6ED |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
06/10/1956 |
|
|
Appointment Date |
18/07/2003 |
|
|
Other Appointments |
BUHLER SORTEX LIMITED |
|
|
DIRECTOR |
|
|
|
Occupation |
PRESIDENT DIVISION GRAIN PROCE |
|
|
Address |
BACHTELSTRASSE 11 , SCHAFFHAUSEN , SWITZERLAND
, |
|
|
Date of Birth |
20/11/1954 |
|
|
Appointment Date |
01/01/2004 |
|
|
Other Appointments |
BUHLER SORTEX LIMITED, CONTROL DESIGN AND DEVELOPMENT
LIMITED, SORTEX LIMITED |
|
|
DIRECTOR |
|
|
|
Occupation |
MANUFACTURING DIRECTOR |
|
|
Address |
THE OLD RECTORY , CHURCH ROAD ARDLEY , BICESTER , OXON
, OX27 7NP |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
15/09/1958 |
|
|
Appointment Date |
01/08/2005 |
|
|
Other Appointments |
BUHLER SORTEX LIMITED, SORTEX LIMITED |
|
|
DIRECTOR |
|
|
|
Occupation |
R & D DIRECTOR |
|
|
Address |
5, WEALDEN HOUSE TALWIN STREET BOW , LONDON
, E3 3NG |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
26/10/1972 |
|
|
Appointment Date |
07/02/2007 |
|
|
Other Appointments |
BUHLER SORTEX LIMITED, SORTEX LIMITED |
|
|
SECRETARY |
MR NIGEL WILSON |
|
|
Address |
6 OLDFIELD MEWS, , LONDON , N6 5XA |
|
|
Country of Origin |
BRITISH |
|
|
Date of Birth |
20/01/1961 |
|
|
Appointment Date |
31/03/1998 |
Recently Resigned Directors (last
3)
|
DIRECTOR |
MARK JASON HONEYWOOD |
|
Occupation |
RESEARCH DIRECTOR |
|
Address |
1 , MONRO HOUSE , LONDON , - - |
|
Country of Origin |
BRITISH |
|
Date of Birth |
01/06/1959 |
|
Resignation Date |
30/06/2005 |
|
DIRECTOR |
HANS-JAKOB SCHOCH |
|
Occupation |
PRESIDENT GENERAL FOOD & FEED |
|
Address |
HOEHENWEG 27 , CANTON OF APPENZELL 9100 , SWITZERLAND
, - - |
|
Country of Origin |
SWISS |
|
Date of Birth |
17/10/1947 |
|
Resignation Date |
31/12/2003 |
|
DIRECTOR |
RONEN DAY |
|
Occupation |
MANUFACTURING DIRECTOR |
|
Address |
46A , BARN HILL , WEMBLEY , MIDDX , - - |
|
Country of Origin |
BRITISH |
|
Date of Birth |
14/05/1956 |
|
Resignation Date |
18/07/2003 |
Share Summary
|
Share Currency: |
GBP |
||||||||
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|||||||||
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
%age |
|
|
|
|
|
|
BUHLER UK HOLDINGS LTD |
ORD |
1,250,000 |
1,250,000.00 |
100.00 |
|
|
|
|
|
Mortgages and Charges
|
Total Registered |
7 |
|
Total Outstanding |
0 |
|
Total Satisfied |
7 |
|
Most Recent Mortgage |
27/01/1999 |
|
|
|
|
|
|
|
Date Registered |
28/01/1999 |
|
Type |
395 |
|
Date Created |
27/01/1999 |
|
Lender |
GENERALE BANK NV - GENERALE DE BANQUE SA |
|
Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY
ACCOUNT WHATSOEVER |
|
Details |
PROPERTY KA PUDDING MILL LANE TNO: EGL164713 AND ALL BUILDINGS AND
FIXTURES (INCLUDING TRADE FIXTURES) FROM TIME TO TIME THEREON TOGETHER WITH
ALL PLANT MACHINERY FITTINGS COMPUTERS AND OFFICE AND OTHER EQUIPMENT FROM
TIME T OTIME ON THE PROPERTY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL
DETAILS |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
19/12/1980 |
|
Type |
9999 |
|
Date Created |
12/12/1980 |
|
Lender |
BROWN SHIPLEY & CO. LTD. |
|
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 |
FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE INCLUDING GOODWILL DEBTS UNCALLED CPAITAL. TOGETHER
WITH ALL BUILDINGS FIXTURES FIXED PLANT & MACHINERY |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
19/12/1980 |
|
Type |
9999 |
|
Date Created |
12/12/1980 |
|
Lender |
HENRY ANSBACHEN AND COMPANY LIMITED |
|
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 |
FIXED & FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE INCLUDING GOODWILL DEBTS UNCALLED CAPITAL. TOGETHER
WITH ALL BUILDINGS FIXTURES FIXED PLANT & MACHINERY |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
19/12/1980 |
|
Type |
9999 |
|
Date Created |
12/12/1980 |
|
Lender |
NATIONAL WESTMINSTER BANK PLC |
|
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 |
FIXED & FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE INCLUDING GOODWILL DEBTS UNCALLED CAPITAL. TOGETHER
WITH ALL BUILDINGS FIXTURES FIXED PLANT & MACHINERY |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
19/12/1980 |
|
Type |
9999 |
|
Date Created |
12/12/1980 |
|
Lender |
HAMBROS BANK LTD. |
|
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 |
FIXED & FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE INCLUDING GOODWILL DEBTS UNCALLED CAPITAL. TOGETHER
WITH ALL BUILDINGS FIXTURES FIXED PLANT & MACHINERY |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
19/12/1980 |
|
Type |
9999 |
|
Date Created |
12/12/1980 |
|
Lender |
BARCLAYS BANK PLC |
|
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 |
FIXED & FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE INCLUDING GOODWILL DEBTS UNCALLED CAPITAL. TOGETHER
WITH ALL BUILDINGS FIXTURES FIXED PLANT & MACHINERY |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
19/12/1980 |
|
Type |
9999 |
|
Date Created |
12/12/1980 |
|
Lender |
CLYDESDALE BANK LTD. |
|
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 |
FIXED & FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE INCLUDING GOODWILL DEBTS UNCALLED CAPITAL. TOGETHER
WITH ALL BUILDINGS FIXTURES FIXED PLANT & MACHINERY |
|
Satisfied? |
Fully |
Public Record Information
Summary of
CCJ's/Scottish Decrees
|
There are no unsatisfied CCJs against the company. |
Operations
|
Activities |
Manufacturers of food products machinery |
|
Sic Code |
Description |
|
2953 |
Manufacture of machinery for food, beverage and tobacco processing |
|
Staff Employed |
166 |
|
Auditors |
Bourner Bullock |
|
Auditors Notes |
No Qualification. The Auditors have expressed a clean opinion (i.e.
unqualified with no referrals) on the latest accounts. |
|
Bankers |
Fortis Bank London Bch (formerly Generale Bk) Bavaria Hse |
|
Sort Codes |
405262 |
Financial Data
|
The following figures are shown in units of 000 |
Profit and Loss
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Consolidated? |
No |
No |
No |
No |
|
SALES |
35,166 |
30,621 |
30,159 |
22,695 |
|
Export Sales |
34,700 |
- |
- |
- |
|
Cost of goods sold |
25,373 |
23,243 |
22,397 |
17,069 |
|
GROSS PROFIT |
9,793 |
7,378 |
7,762 |
5,626 |
|
Other Expenses |
2,536 |
2,345 |
2,393 |
2,171 |
|
General administration costs (-) |
1,455 |
1,257 |
1,250 |
877 |
|
Wages and Salaries |
5,822 |
5,852 |
5,653 |
4,974 |
|
Depreciation |
501 |
500 |
498 |
373 |
|
Other operating charges |
510 |
- |
249 |
296 |
|
Net Operating Profit(Loss) |
5,292 |
3,859 |
3,870 |
2,281 |
|
Non Trading Income |
48 |
22 |
31 |
43 |
|
Group Non Trading Income |
186 |
- |
- |
- |
|
Other financial income |
2 |
4,042 |
45 |
- |
|
Total Non Trading Income |
236 |
4,064 |
75 |
43 |
|
Other financial charges |
13 |
8 |
34 |
169 |
|
Financial Expenses |
13 |
8 |
34 |
169 |
|
PRE TAX PROFIT |
5,515 |
7,915 |
3,911 |
2,155 |
|
Other Taxation |
-21 |
-388 |
311 |
391 |
|
Taxation |
1,610 |
1,579 |
744 |
152 |
|
PROFIT AFTER TAX |
3,926 |
6,725 |
2,856 |
1,613 |
|
Net Profit |
3,926 |
6,725 |
2,856 |
1,613 |
|
Dividends Payable |
2,000 |
1,500 |
1,500 |
500 |
|
RETAINED PROFITS |
1,926 |
5,225 |
1,356 |
1,113 |
Balance Sheet
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL FIXED ASSETS |
11,352 |
6,297 |
3,223 |
2,836 |
|
Land & buildings |
10,452 |
- |
1,839 |
1,779 |
|
Plant, machinery & equipment |
843 |
- |
1,384 |
1,057 |
|
Other long term assets |
57 |
- |
- |
- |
|
TOTAL CURRENT ASSETS |
17,119 |
18,869 |
10,408 |
8,902 |
|
Stocks |
5,493 |
4,879 |
4,769 |
3,323 |
|
Trade Debtors |
2,850 |
1,922 |
1,907 |
1,157 |
|
Other Receivables |
506 |
1,293 |
652 |
505 |
|
Prepaid expenses |
191 |
121 |
265 |
222 |
|
Group Loans |
5,397 |
4,875 |
2,791 |
3,375 |
|
Cash |
1,610 |
715 |
24 |
248 |
|
own shares |
1,072 |
5,000 |
- |
- |
|
TOTAL ASSETS |
28,470 |
25,167 |
13,631 |
11,738 |
|
TOTAL CURRENT LIABILITIES |
8,337 |
6,678 |
6,635 |
6,103 |
|
Trade Creditors |
3,424 |
1,503 |
1,136 |
1,404 |
|
Taxes |
1,299 |
1,495 |
643 |
188 |
|
Other Current Liabilities |
1,658 |
1,800 |
613 |
1,163 |
|
Due From Group |
241 |
306 |
1,861 |
2,150 |
|
Accruals & deferred income |
1,715 |
1,575 |
2,038 |
1,130 |
|
WORKING CAPITAL |
8,781 |
12,191 |
3,773 |
2,800 |
|
TOTAL LONG TERM LIABS |
822 |
773 |
474 |
469 |
|
Other Long Term Liabilities |
822 |
773 |
- |
- |
|
NET ASSETS/(LIABILITIES) |
20,133 |
18,488 |
6,996 |
5,635 |
|
SHARE CAPITAL + RESERVES |
19,311 |
17,715 |
6,522 |
5,166 |
|
Issued Share Capital |
1,250 |
1,250 |
1,250 |
1,250 |
|
Profit and Loss account |
12,796 |
11,065 |
5,272 |
3,916 |
|
Investment grants |
5,265 |
5,400 |
- |
- |
|
SHAREHOLDERS FUNDS |
19,311 |
17,715 |
6,522 |
5,166 |
|
CAPITAL EMPLOYED |
20,133 |
18,488 |
6,996 |
5,635 |
|
TANGIBLE NET WORTH |
19,311 |
17,715 |
6,522 |
5,166 |
Key
Credit Ratios
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Current Ratio |
2.05 |
2.83 |
1.57 |
1.46 |
|
Profit Before Tax |
0.16 |
0.26 |
0.13 |
0.09 |
|
Creditors Days (D.P.O) |
49.26 |
23.60 |
18.51 |
30.02 |
|
Quick Ratio |
1.39 |
2.09 |
0.85 |
0.91 |
|
Return on Assets |
19.41 |
31.45 |
28.69 |
18.36 |
|
T.N.W/Total Assets |
0.68 |
0.70 |
0.48 |
0.44 |
|
Return on Capital |
27.39 |
42.81 |
55.90 |
38.24 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Equity Gearing |
0.23 |
0.23 |
0.14 |
0.11 |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
|
Solvency (%) |
47.43 |
42.06 |
109.00 |
127.22 |
Financial Summary
|
Turnover |
Turnover increased by more than 15% in the period. Turnover totalled
GBP 35,166,000 for the period. |
|
Operating Profit |
Totalled GBP 5,292,000 In the period prior a profit of GBP
3,859,000 was achieved. |
|
Pre Tax |
The subject made a profit of GBP 5,515,000 compared with a
profit of GBP 7,915,000 in the previous period. |
|
Working Capital |
The company's working capital decreased in the period by 28% |
|
Tangible Net Worth |
Net worth increased by 1,596,000 during the period and now stands at
GBP 19,311,000 |
|
Fixed Assets |
The subjects fixed assets increased during the period by GBP
4,998,000 to GBP 11,295,000 and are now 40% of total assets
compared with 25% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities increased during the period by 6%
and are now 4% of net worth compared with 4% in the previous period |
|
Long Term Liabilities |
Long term liabilities are now 3% of total assets compared with 3% 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%)