MIRA
INFORM REPORT
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Report Date : |
09.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
FLEXCON PACKAGING (UK) LIMITED |
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Registered Office : |
33 Leslie St, Blairgowrie, Perthshire, PH10 6AW |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
07.03.2005 |
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Com. Reg. No.: |
SC281157 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Wholesalers of Packaging Materials |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
FLEXCON PACKAGING (UK) LIMITED |
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Telephone |
01250-875633 |
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Registered Office |
33 Leslie St, Blairgowrie, Perthshire, PH10 6AW |
Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
SC281157 |
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Date of Incorporation |
07/03/2005 |
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Registered Office |
33 Leslie St, Blairgowrie, Perthshire, PH10 6AW |
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Date of Last Annual Return to
Registry |
07/03/2008 |
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Activities |
Wholesalers of packaging materials |
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Accounts |
The last filed accounts cover the period to 31/03/2007 |
Recently Filed Documents
Details
of the most recent documents
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Date
Received |
Description |
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07/03/2008 |
Annual Return |
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31/03/2007 |
Financial Statement / Set of Accounts |
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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 |
BULK BAG SELLER |
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Address |
8, ELLERGREEN ROAD BEARSDEN , GLASGOW
, G61 2RJ |
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Country of Origin |
BRITISH |
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Date of Birth |
21/04/1975 |
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Appointment Date |
01/04/2005 |
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Other Appointments |
BETABEST LIMITED, FLEXCON PACKAGING (UK) LIMITED |
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
15, CORTACHY CRESCENT NORTHMUIR , KIRRIEMUIR
, ANGUS , DD8 4TP |
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Country of Origin |
BRITISH |
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Date of Birth |
12/02/1974 |
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Appointment Date |
01/04/2005 |
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Other Appointments |
CONSOLIDATED FIBRES LIMITED, FLEXCON PACKAGING (UK)
LIMITED, FORFAR WEAVERS LIMITED, J.D. TEXTILES (DUNDEE)
LIMITED, J.D. TEXTILES LIMITED, ROSSMAR TEXTILES LIMITED, TAY
SPINNERS LIMITED, VICIA TWINES LIMITED, VICTORIA INDUSTRIES (1982)
LIMITED, VICTORIA SPINNING (1982) LIMITED, WILLIAM LAWSON &
SONS LIMITED |
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SECRETARY |
MR WILLIAM MCLELLAN |
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Address |
15 CORTACHY CRESCENT, NORTHMUIR , KIRRIEMUIR
, ANGUS , DD8 4TP |
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Country of Origin |
BRITISH |
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Date of Birth |
12/02/1974 |
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Appointment Date |
01/04/2005 |
Recently Resigned Directors (last
3)
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DIRECTOR |
FORM 10 DIRECTORS FD LTD - |
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Occupation |
FORMATION AGENT |
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Address |
39A , LEICESTER ROAD , SALFORD , - - |
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Country of Origin |
BRITISH |
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Resignation Date |
08/03/2005 |
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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Mr William Ian McLellan |
ORD |
1 |
1.00 |
50.00 |
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Munish Sharma |
ORD |
1 |
1.00 |
50.00 |
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Mortgages and Charges
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Total Registered |
1 |
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Total Outstanding |
1 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
09/05/2005 |
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Date Registered |
10/05/2005 |
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Type |
410 |
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Date Created |
09/05/2005 |
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Lender |
THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND |
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Secured On |
ALL SUMS DUE, OR TO BECOME DUE |
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Details |
UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE
OF THE COMPANY INCLUDING UNCALLED CAPITAL |
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Satisfied? |
No |
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 packaging materials |
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Sic Code |
Description |
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5170 |
Other wholesale |
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Staff Employed |
5 |
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Auditors |
Gillespie Inverarity & Co |
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Auditors Notes |
No Qualification. The Auditors have expressed a clean
opinion (i.e. unqualified with no referrals) on the latest accounts. |
Financial Data
Profit and Loss
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Number of Weeks |
52 |
52 |
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Accounts Date |
31/03/2007 |
31/03/2006 |
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Currency |
GBP |
GBP |
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Units |
units |
units |
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Consolidated? |
No |
No |
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RETAINED PROFITS |
- |
- |
- |
Balance Sheet
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Number of Weeks |
52 |
52 |
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Accounts Date |
31/03/2007 |
31/03/2006 |
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Currency |
GBP |
GBP |
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Units |
units |
units |
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Consolidated? |
No |
No |
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TOTAL FIXED ASSETS |
10,320 |
11,438 |
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Total Fixed Assets |
7,047 |
9,220 |
- |
- |
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Intangible Assets |
3,273 |
2,218 |
- |
- |
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TOTAL CURRENT ASSETS |
803,072 |
447,738 |
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Stocks |
344,628 |
89,858 |
- |
- |
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Trade Debtors |
436,594 |
331,646 |
- |
- |
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Cash |
21,850 |
26,234 |
- |
- |
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TOTAL ASSETS |
813,392 |
459,176 |
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TOTAL CURRENT LIABILITIES |
849,238 |
473,804 |
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Other Current Liabilities |
849,238 |
473,804 |
- |
- |
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WORKING CAPITAL |
-46,166 |
-26,066 |
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TOTAL LONG TERM LIABS |
2,400 |
4,800 |
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Other Long Term Liabilities |
2,400 |
4,800 |
- |
- |
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NET ASSETS/(LIABILITIES) |
-35,846 |
-14,628 |
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SHARE CAPITAL + RESERVES |
-38,246 |
-19,428 |
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Issued Share Capital |
2 |
2 |
- |
- |
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Profit and Loss account |
-38,248 |
-19,430 |
- |
- |
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SHAREHOLDERS FUNDS |
-38,246 |
-19,428 |
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CAPITAL EMPLOYED |
-35,846 |
-14,628 |
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TANGIBLE NET WORTH |
-41,519 |
-21,646 |
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Key Credit Ratios
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Accounts Date |
31/03/2007 |
31/03/2006 |
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Current Ratio |
0.95 |
0.94 |
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Quick Ratio |
0.54 |
0.76 |
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T.N.W/Total Assets |
-0.05 |
-0.05 |
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Equity Gearing |
-0.17 |
-0.05 |
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Solvency (%) |
-2051.20 |
-2211.05 |
Financial Summary
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Working
Capital |
The company's working capital deficiency increased in the
period and now stands at GBP 46,166,units |
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Tangible
Net Worth |
Net worth reduced by 19,873 during the period and now
stands at GBP -41,519,units |
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Fixed
Assets |
The subjects fixed assets reduced during the period by GBP
2,173 to GBP 7,047,units and are now 1% of total assets compared
with 2% in the previous period |
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Long
Term Liabilities |
The company's long term liabilities reduced during the
period by 50% and are now -6% of net worth compared with -22% in the previous
period |
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Long
Term Liabilities |
Long term liabilities are now 0% of total assets compared
with 1% in the previous period |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)