MIRA
INFORM REPORT
|
Report Date : |
03.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
J O SIMS LIMITED |
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Registered Office : |
Pudding Lane, Pinchbeck, Spalding, Lincolnshire PE11 3TJ |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
15.12.1986 |
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Com. Reg. No.: |
02084187 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Wholesalers of Fruits |
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 1,060,400 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
J O SIMS LIMITED |
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Holding Company |
J O SIMS HOLDINGS LTD |
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Ultimate Holding Company |
J O SIMS HOLDINGS LTD |
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Trading Address |
Pudding La,Pinchbeck,SPALDING,PE11 3TJ |
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Telephone |
01775-842100 |
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There is a high degree of confidence this company will prove good for
the assigned Credit Limit |
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Credit Limit |
GBP 1,060,400 |
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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 8,529,100 |
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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) |
|
Registration Number |
02084187 |
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Date of Incorporation |
15/12/1986 |
|
Registered Office |
Pudding Lane, Pinchbeck, Spalding, Lincolnshire PE11 3TJ |
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Date of Last Annual Return to Registry |
04/12/2007 |
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Activities |
Wholesalers of Fruits |
|
Accounts |
The last filed accounts cover the period to 31/12/2006 and were filed
on 24/04/2007 |
Recently Filed Documents
Details of the
most recent documents
|
Date Received |
Description |
|
04/12/2007 |
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
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
10, UPPER WOODCOTE VILLAGE , PURLEY , SURREY
, CR8 3HE |
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Country of Origin |
BRITISH |
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Date of Birth |
07/12/1923 |
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Appointment Date |
31/12/1992 |
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Other Appointments |
J O SIMS HOLDINGS LIMITED, J O SIMS LIMITED |
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
KETTON GRANGE , HIGH STREET KETTON , STAMFORD , LINCS
, PE9 3TA |
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Country of Origin |
BRITISH |
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Date of Birth |
08/02/1959 |
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Appointment Date |
31/12/1992 |
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Other Appointments |
BLOWS YARD LIMITED, BOTTOM OF THE RIDGE LIMITED, CLINK
STREET PROPERTIES LIMITED, DEL REY LIMITED, DIPPY RIDGE
LIMITED, J O SIMS HOLDINGS LIMITED, J O SIMS LIMITED, STONEY
STREET DEVELOPMENTS LIMITED, WINCHESTER SQUARE PROPERTIES
LIMITED, WINCHESTER WALK PROPERTIES LIMITED |
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
ORCHARD HOUSE , MAIN STREET SCOPWICK , LINCOLN
, LN5 0LE |
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Country of Origin |
BRITISH |
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Date of Birth |
10/10/1972 |
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Appointment Date |
01/01/2006 |
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Other Appointments |
BLOWS YARD LIMITED, CLINK STREET PROPERTIES LIMITED, DEL REY
LIMITED, J O SIMS HOLDINGS LIMITED, J O SIMS LIMITED, STONEY
STREET DEVELOPMENTS LIMITED, WINCHESTER SQUARE PROPERTIES
LIMITED, WINCHESTER WALK PROPERTIES LIMITED |
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SECRETARY |
MR BERNARD DAVIES |
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Address |
110 LAKEVIEW WAY, HAMPTON HARGATE , PETERBOROUGH , PE7
8DH |
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Country of Origin |
BRITISH |
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Date of Birth |
10/12/1947 |
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Appointment Date |
31/12/1992 |
Recently Resigned Directors (last
3)
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DIRECTOR |
GARRY CARLTON |
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Occupation |
COMPANY DIRECTOR |
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Address |
8 , THE HAWTHORNS , SPALDING , LINCS , - - |
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Country of Origin |
BRITISH |
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Date of Birth |
22/04/1948 |
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Resignation Date |
08/04/2005 |
|
DIRECTOR |
RONALD PALMER |
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Address |
27 , HIGH STREET , HITCHIN , HERTS , - - |
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Date of Birth |
29/01/1937 |
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Resignation Date |
17/08/1993 |
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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SIMS,J O,HOLDINGS LTD |
ORD |
199,999 |
199,999.00 |
100.00 |
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Mr Christopher Oliver Sims |
ORD |
1 |
1.00 |
0.00 |
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Mortgages and Charges
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Total Registered |
4 |
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Total Outstanding |
3 |
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Total Satisfied |
1 |
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Most Recent Mortgage |
02/04/2002 |
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Date Registered |
03/04/2002 |
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Type |
395 |
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Date Created |
02/04/2002 |
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Lender |
LLOYDS UDT LIMITED |
|
Secured On |
20,730.19 AND ALL OTHER MONIES DUE OR TO BECOME DUE FROM THE COMPANY
TO THE CHARGEE |
|
Details |
FIRST FIXED CHARGE OVER 1 X AUDI A4 AVANT 1.8T REG.No.AE02 BZH
8E2A234368 |
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Satisfied? |
No |
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Date Registered |
11/08/2000 |
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Type |
395 |
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Date Created |
03/08/2000 |
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Lender |
LLOYDS UDT LIMITED |
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Secured On |
54,900 AND ALL OTHER MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO
THE CHARGEE UNDER THE CHARGE |
|
Details |
SIRIUS 10 HEAD WEIGHING SYSTEM SERIAL NO 1139. PUNNET LOADING SYSTEM
SERIAL NO 1140. FLIGHTED FEED CONVEYOR SERIAL NO 1141. |
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Satisfied? |
No |
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Date Registered |
31/05/2000 |
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Type |
395 |
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Date Created |
30/05/2000 |
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Lender |
LLOYDS UDT LIMITED |
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Secured On |
25,000 DUE FROM THE COMPANY TO THE CHARGEE |
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Details |
1 x JEEP GRAND CHEROKEE 4.0 - REG W963 XJE - CHASSIS No
JJ4G8B85BYY117549 |
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Satisfied? |
No |
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Date Registered |
15/03/1996 |
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Type |
395 |
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Date Created |
14/03/1996 |
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Lender |
LLOYDS BOWMAKER LIMITED |
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Secured On |
701,100 AND ALL OTHER MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO
THE CHARGEE UNDER THE CHARGE |
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Details |
A FIRST FIXED CHARGE OVER COLD STORAGE EQUIPMENT SEE THE MORTGAGE
CHARGE DOCUMENT FOR FULL DETAILS |
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Satisfied? |
Fully |
Public Record Information
Summary of
CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
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Activities |
Wholesalers of Fruits |
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Sic Code |
Description |
|
5131 |
Wholesale of fruit and vegetables |
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Staff Employed |
42 |
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Auditors |
Grant Thornton UK LLP |
|
Auditors Notes |
No Qualification. The Auditors have expressed a clean opinion (i.e.
unqualified with no referrals) on the latest accounts. |
|
Bankers |
National Westminster Bank PLC |
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Sort Codes |
515003 |
Financial Data
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 |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
|
SALES |
53,138,251 |
44,746,451 |
42,985,627 |
34,167,936 |
|
Cost of goods sold |
48,223,694 |
40,764,582 |
38,918,651 |
31,087,503 |
|
GROSS PROFIT |
4,914,557 |
3,981,869 |
4,066,976 |
3,080,433 |
|
Other Expenses |
834,943 |
734,432 |
1,388,621 |
1,215,246 |
|
General administration costs (-) |
2,158,252 |
1,970,138 |
1,065,968 |
1,231,129 |
|
Wages and Salaries |
1,906,035 |
1,639,822 |
1,427,036 |
1,306,506 |
|
Depreciation |
142,322 |
161,756 |
135,707 |
145,690 |
|
Net Operating Profit(Loss) |
1,921,362 |
1,277,299 |
1,612,387 |
634,058 |
|
Non Trading Income |
902 |
3,774 |
407 |
207 |
|
Total Non Trading Income |
902 |
3,774 |
407 |
207 |
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Interest expenses & similar (-) |
158,255 |
441,913 |
226,073 |
186,571 |
|
Other financial charges |
364,246 |
17,612 |
- |
- |
|
Financial Expenses |
522,501 |
459,525 |
226,073 |
186,571 |
|
PRE TAX PROFIT |
1,399,763 |
821,548 |
1,386,721 |
447,694 |
|
Other Taxation |
-165,825 |
26,743 |
0 |
0 |
|
Taxation |
560,204 |
326,447 |
437,000 |
149,610 |
|
PROFIT AFTER TAX |
1,005,384 |
468,358 |
949,721 |
298,084 |
|
Net Profit |
1,005,384 |
468,358 |
949,721 |
298,084 |
|
Dividends Payable |
162,000 |
0 |
0 |
0 |
|
RETAINED PROFITS |
843,384 |
468,358 |
949,721 |
298,084 |
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 |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL FIXED ASSETS |
444,228 |
507,050 |
564,627 |
422,343 |
|
Plant, machinery & equipment |
444,228 |
507,050 |
564,627 |
422,343 |
|
TOTAL CURRENT ASSETS |
27,970,478 |
25,959,332 |
18,961,689 |
16,503,601 |
|
Stocks |
4,432,888 |
2,974,128 |
2,436,443 |
1,517,832 |
|
Trade Debtors |
6,539,772 |
5,623,638 |
4,041,221 |
4,271,860 |
|
Other Receivables |
380,246 |
263,799 |
114,089 |
157,220 |
|
Prepaid expenses |
83,978 |
- |
83,657 |
55,914 |
|
Group Loans |
15,956,905 |
16,989,109 |
11,919,304 |
10,473,347 |
|
Cash |
407,364 |
105,158 |
366,975 |
27,428 |
|
Tax Recoverable |
169,325 |
3,500 |
- |
- |
|
TOTAL ASSETS |
28,414,706 |
26,466,382 |
19,526,316 |
16,925,944 |
|
TOTAL CURRENT LIABILITIES |
17,900,229 |
16,626,940 |
12,256,291 |
12,060,160 |
|
Trade Creditors |
8,063,072 |
7,250,198 |
8,210,907 |
7,480,895 |
|
Bank Overdraft |
4,184,474 |
4,206,341 |
2,858,527 |
4,047,217 |
|
Taxes |
3,020,347 |
3,632,759 |
726,199 |
243,323 |
|
Other Current Liabilities |
251 |
- |
74,680 |
25,705 |
|
Due From Group |
92,915 |
- |
- |
- |
|
Hire Purchase |
42,312 |
129,037 |
148,219 |
62,167 |
|
Accruals & deferred income |
2,496,858 |
1,408,605 |
237,759 |
200,853 |
|
WORKING CAPITAL |
10,070,249 |
9,332,392 |
6,705,398 |
4,443,441 |
|
TOTAL LONG TERM LIABS |
919,259 |
1,087,608 |
1,047,644 |
31,800 |
|
Mortgages and loans |
919,259 |
1,045,296 |
934,288 |
1,728 |
|
NET ASSETS/(LIABILITIES) |
10,514,477 |
9,839,442 |
7,270,025 |
4,865,784 |
|
SHARE CAPITAL + RESERVES |
9,595,218 |
8,751,834 |
6,222,381 |
4,833,984 |
|
Issued Share Capital |
200,000 |
200,000 |
200,000 |
200,000 |
|
Profit and Loss account |
9,395,218 |
8,551,834 |
6,022,381 |
4,633,984 |
|
SHAREHOLDERS FUNDS |
9,595,218 |
8,751,834 |
6,222,381 |
4,833,984 |
|
CAPITAL EMPLOYED |
10,514,477 |
9,839,442 |
7,270,025 |
4,865,784 |
|
TANGIBLE NET WORTH |
9,595,218 |
8,751,834 |
6,222,381 |
4,833,984 |
Key Credit Ratios
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Current Ratio |
1.56 |
1.56 |
1.55 |
1.37 |
|
Profit Before Tax |
0.03 |
0.02 |
0.03 |
0.01 |
|
Creditors Days (D.P.O) |
61.03 |
64.92 |
77.01 |
87.83 |
|
Quick Ratio |
1.31 |
1.38 |
1.35 |
1.24 |
|
Return on Assets |
4.93 |
3.10 |
7.10 |
2.65 |
|
T.N.W/Total Assets |
0.34 |
0.33 |
0.32 |
0.29 |
|
Return on Capital |
13.31 |
8.35 |
19.07 |
9.20 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
|
Solvency (%) |
196.13 |
202.41 |
213.81 |
250.14 |
Financial Summary
|
Turnover |
Turnover increased by more than 19% in the period. Turnover totalled
GBP 53,138,251,units for the period. |
|
Operating Profit |
Totalled GBP 1,921,362,units In the period prior a profit of GBP
1,277,299,units was achieved. |
|
Pre Tax |
The subject made a profit of GBP 1,399,763,units compared with a
profit of GBP 821,548,units in the previous period. |
|
Working Capital |
The company's working capital improved in the period by 8% |
|
Tangible Net Worth |
Net worth increased by 843,384 during the period and now stands at GBP
9,595,218,units |
|
Fixed Assets |
The subjects fixed assets reduced during the period by GBP 62,822
to GBP 444,228,units and are now 2% of total assets compared with 2% in
the previous period |
|
Long Term Liabilities |
The company's long term liabilities reduced during the period by 15%
and are now 10% of net worth compared with 12% in the previous period |
|
Long Term Liabilities |
Long term liabilities are now 3% of total assets compared with 4% 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%)