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MIRA
INFORM REPORT
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Report Date : |
10.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
WESTCON AFRICA (UK) LIMITED |
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Registered Office : |
4 Penta Court, Station Road, Borehamwood, Herts WD6 1SL |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
23.06.1976 |
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Com. Reg. No.: |
01264633 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
I T Equipment Exporters Dealing Principally with the
African and Aid Agencies Market. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US Dollar 9,500 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
WESTCON AFRICA (UK) LIMITED |
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Holding Company |
International Technology Distributors F2co |
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Ultimate Holding Company |
INTER TECHNO |
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Trading Address |
4 Penta Ct, Station Rd,BOREHAMWOOD,WD6 1SL |
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Telephone |
020-8207-6171 |
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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 |
US Dollar 9,500 |
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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 |
US Dollar 86,200 |
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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) |
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Registration Number |
01264633 |
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Date of Incorporation |
23/06/1976 |
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Registered Office |
4 Penta Court, Station Road, Borehamwood, Herts WD6 1SL |
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Date of Last Annual Return to
Registry |
10/06/2007 |
|
Activities |
I T equipment exporters dealing principally with the
African and aid agencies market. |
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Accounts |
The last filed accounts cover the period to 31/12/2006 and
were filed on 23/05/2007 |
Recently Filed Documents
Details
of the most recent documents
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Date
Received |
Description |
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10/06/2007 |
Annual Return |
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31/12/2006 |
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 |
HOUSEWIFE |
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Address |
27, HARTFIELD AVENUE ELSTREE , BOREHAMWOOD
, HERTS , WD6 3JB |
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Country of Origin |
BRITISH |
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Date of Birth |
25/06/1947 |
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Appointment Date |
25/06/2007 |
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Other Appointments |
JET DISTRIBUTION LTD, RESOLV COMPUTERS
LIMITED, WESTCON AFRICA (UK) LIMITED |
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
27, HARTFIELD AVENUE ELSTREE , BOREHAMWOOD
, HERTS , WD6 3JB |
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Country of Origin |
BRITISH |
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Date of Birth |
13/10/1944 |
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Appointment Date |
10/06/1991 |
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Other Appointments |
JET DISTRIBUTION LTD, PENTA COURT MANAGEMENT COMPANY
LIMITED, RESOLV COMPUTERS LIMITED, WESTCON AFRICA (UK) LIMITED |
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
25, ELEMANTAITA CLOSE LAKE VIEW , NAIROBI
, KENYA , |
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Country of Origin |
KENYAN |
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Date of Birth |
05/08/1962 |
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Appointment Date |
30/09/2005 |
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Other Appointments |
WESTCON AFRICA (UK) LIMITED |
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
CROSSROADS 22 , HILLVIEW ESTATE LOWER KABETE ROAD
NAIROBI , BOX 59789 , KENYA , |
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Country of Origin |
KENYAN |
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Date of Birth |
16/09/1959 |
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Appointment Date |
30/09/2005 |
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Other Appointments |
DYNATECH DISTRIBUTION LIMITED, WESTCON AFRICA (UK)
LIMITED |
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SECRETARY |
MR PAUL MOSER |
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Address |
27 HARTFIELD AVENUE, ELSTREE , BOREHAMWOOD
, HERTFORDSHIRE , WD6 3JB |
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Country of Origin |
BRITISH |
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Date of Birth |
13/10/1944 |
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Appointment Date |
30/09/2005 |
Recently Resigned Directors (last
3)
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DIRECTOR |
MRS SUSAN MOSER |
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Occupation |
HOUSEWIFE |
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Address |
27 , HARTFIELD AVENUE , BOREHAMWOOD , HERTS
, - - |
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Country of Origin |
BRITISH |
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Date of Birth |
25/06/1947 |
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Resignation Date |
30/09/2005 |
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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International Technology Distributors F2co |
ORD |
40,000 |
40,000.00 |
100.00 |
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Mortgages and Charges
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Total Registered |
2 |
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Total Outstanding |
2 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
08/09/1989 |
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Date Registered |
15/09/1989 |
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Type |
9999 |
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Date Created |
08/09/1989 |
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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 |
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Details |
(INCLUDING TRADE FIXTURES) 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 |
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Satisfied? |
No |
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Date Registered |
15/09/1989 |
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Type |
9999 |
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Date Created |
08/09/1989 |
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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 |
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Details |
ALL MONEYS NOW OR AT ANY TIME HEREAFTER STANDING TO THE
CREDIT OF ANY ACCOUNT (S) OF THE COMPANY WITH THE BANK DESIGNATED BARCLAYS
BANK PLC RE: SPARNOON LIMITED |
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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 |
I T equipment exporters dealing principally with the
African and aid agencies market. |
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Sic Code |
Description |
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5170 |
Other wholesale |
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5164 |
Wholesale of office machinery and equipment |
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Staff Employed |
15 |
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Auditors |
Shelley Stock Hutter |
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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. |
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Bankers |
Barclays Bank PLC |
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Sort Codes |
209561 |
Financial Data
Profit and Loss
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/03/2005 |
31/03/2004 |
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Currency |
US Dollar |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
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Consolidated? |
No |
No |
No |
No |
|
SALES |
27,851,485 |
10,648,415 |
10,016,678 |
7,330,613 |
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Export Sales |
27,715,358 |
10,387,880 |
- |
- |
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Other operating income |
4,084 |
- |
- |
- |
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Cost of goods sold |
25,768,315 |
9,850,093 |
9,285,580 |
6,655,553 |
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GROSS PROFIT |
2,083,170 |
798,322 |
731,098 |
675,060 |
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Other Expenses |
115,367 |
- |
- |
- |
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General administration costs (-) |
2,474,060 |
685,534 |
615,667 |
588,497 |
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Wages and Salaries |
1,198,511 |
430,857 |
391,676 |
373,704 |
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Depreciation |
41,334 |
12,126 |
8,427 |
9,856 |
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Net Operating Profit(Loss) |
-502,173 |
112,788 |
115,431 |
86,563 |
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Non Trading Income |
1,179 |
350 |
448 |
736 |
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Total Non Trading Income |
1,179 |
350 |
448 |
736 |
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Interest expenses & similar (-) |
53,068 |
15,437 |
12,951 |
13,286 |
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Other financial charges |
72,364 |
- |
- |
- |
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Financial Expenses |
125,432 |
15,437 |
12,951 |
13,286 |
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PRE TAX PROFIT |
-626,426 |
97,701 |
102,928 |
74,013 |
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Other Taxation |
0 |
0 |
0 |
0 |
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Taxation |
-94,763 |
42,974 |
20,437 |
15,274 |
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PROFIT AFTER TAX |
-531,663 |
54,727 |
82,491 |
58,739 |
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Net Loss |
531,663 |
- |
- |
- |
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Dividends Payable |
0 |
0 |
28,000 |
20,000 |
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RETAINED PROFITS |
- |
54,727 |
54,491 |
38,739 |
Balance Sheet
|
Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/12/2006 |
31/12/2005 |
31/03/2005 |
31/03/2004 |
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Currency |
US Dollar |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
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Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
120,979 |
92,371 |
60,960 |
33,699 |
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Plant, machinery & equipment |
106,642 |
52,223 |
20,812 |
25,346 |
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Intermediate Assets |
14,337 |
40,148 |
40,148 |
8,353 |
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TOTAL CURRENT ASSETS |
9,262,102 |
3,841,340 |
3,154,092 |
2,373,315 |
|
Stocks |
2,031,304 |
543,995 |
614,448 |
384,532 |
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Trade Debtors |
4,962,740 |
2,589,593 |
2,136,286 |
1,646,126 |
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Other Receivables |
1,498,982 |
61,494 |
97,250 |
114,662 |
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Prepaid expenses |
379,320 |
190,364 |
5,196 |
6,730 |
|
Group Loans |
184,366 |
453,116 |
299,299 |
219,149 |
|
Cash |
130,309 |
2,778 |
1,613 |
2,116 |
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Tax Recoverable |
75,081 |
- |
- |
- |
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TOTAL ASSETS |
9,383,081 |
3,933,711 |
3,215,052 |
2,407,014 |
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TOTAL CURRENT LIABILITIES |
8,553,284 |
3,154,906 |
2,507,951 |
1,754,404 |
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Trade Creditors |
6,910,364 |
2,064,930 |
1,808,212 |
1,310,457 |
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Bank Overdraft |
1,095,451 |
729,505 |
472,764 |
248,374 |
|
Taxes |
58,467 |
92,088 |
30,601 |
24,463 |
|
Due From Group |
132,378 |
- |
- |
- |
|
Hire Purchase |
28,789 |
6,318 |
- |
- |
|
Accruals & deferred income |
327,835 |
253,905 |
195,490 |
171,110 |
|
WORKING CAPITAL |
708,818 |
686,434 |
646,141 |
618,911 |
|
TOTAL LONG TERM LIABS |
53,710 |
16,977 |
0 |
0 |
|
Total Hire Purchase / Leasing |
53,710 |
16,977 |
- |
- |
|
NET ASSETS/(LIABILITIES) |
829,797 |
778,805 |
707,101 |
652,610 |
|
SHARE CAPITAL + RESERVES |
776,087 |
761,828 |
707,101 |
652,610 |
|
Issued Share Capital |
68,664 |
40,000 |
40,000 |
40,000 |
|
Profit and Loss account |
707,423 |
721,828 |
667,101 |
612,610 |
|
SHAREHOLDERS FUNDS |
776,087 |
761,828 |
707,101 |
652,610 |
|
CAPITAL EMPLOYED |
829,797 |
778,805 |
707,101 |
652,610 |
|
TANGIBLE NET WORTH |
776,087 |
761,828 |
707,101 |
652,610 |
Key Credit Ratios
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/03/2005 |
31/03/2004 |
|
Current Ratio |
1.08 |
1.22 |
1.26 |
1.35 |
|
Profit Before Tax |
-0.02 |
0.01 |
0.01 |
0.01 |
|
Creditors Days (D.P.O) |
97.88 |
76.52 |
71.08 |
71.87 |
|
Quick Ratio |
0.85 |
1.05 |
1.01 |
1.13 |
|
Return on Assets |
-6.69 |
2.51 |
3.24 |
3.09 |
|
T.N.W/Total Assets |
0.08 |
0.19 |
0.22 |
0.27 |
|
Return on Capital |
-75.49 |
12.54 |
14.56 |
11.34 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
|
Solvency (%) |
1109.02 |
416.35 |
354.68 |
268.83 |
Financial Summary
|
Turnover |
Turnover increased by more than 162% in the period.
Turnover totalled US Dollar 27,851,485,units for the period. |
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Operating Loss |
Totalled US Dollar -502,173,units In the period prior
a profit of US Dollar 112,788,units was achieved. |
|
Pre Tax |
The subject made a loss of US Dollar 626,426,units
compared with a profit of US Dollar 97,701,units in the previous
period. |
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Working Capital |
The company's working capital improved in the period by 3%
|
|
Tangible Net Worth |
Net worth increased by 14,259 during the period and now
stands at US Dollar 776,087,units |
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Fixed Assets |
The subjects fixed assets increased during the period by
US Dollar 54,419 to US Dollar 106,642,units and are now 1% of
total assets compared with 1% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities increased during the
period by 216% and are now 7% of net worth compared with 2% in the previous
period |
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Long Term Liabilities |
Long term liabilities are now 1% of total assets compared
with 0% in the previous period |
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Previous Searches on this Company |
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Last 3 Months |
Last 6 Months |
Last 12 Months |
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0 |
1 |
1 |
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 |
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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 |
|
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 |
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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%)