%20LIMITED%2004-Nov-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
04.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
EUROPEAN COLOUR (PIGMENTS)
LIMITED |
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Formerly Known as : |
ELLIS JONES & COMPANY (STOCKPORT) LIMITED |
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Registered Office : |
EC Pigments, Hempshaw Lane, Stockport, Cheshire SK1 4LG |
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Country : |
United Kingdom |
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Financials (as on) : |
30.03.2007 |
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Date of Incorporation : |
03.12.1923 |
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Legal Form : |
Private Limited With Share
Capital |
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Line of Business : |
Manufacture of Dyes and Pigments |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
[£] 175,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name of the company
EUROPEAN COLOUR (PIGMENTS)
LIMITED
Number 00194139
company summary
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Phone |
01614803891 |
Type |
Private limited with Share
Capital |
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Address |
EC PIGMENTS, |
Company Status |
Active - Accounts Filed |
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Postcode |
SK1 4LG |
Incorporated Date |
03/12/1923 |
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Todays Limit [£] 175,000
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Active CCJ's |
0 |
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Value of CCJ's [£] |
£0 |
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Number Of Writs |
0 |
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Current Directors |
3 |
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Total Directorships |
23 |
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Trading to Date |
31/03/07 |
31/03/06 |
31/03/05 |
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Turnover |
£14,987,000 |
£16,610,000 |
£17,362,000 |
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Shareholder Funds |
£2,668,000 |
£-2,739,000 |
£-247,000 |
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Employees |
105 |
133 |
137 |
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Trends |
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Profitability |
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Liquidity |
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Shareholders Funds |
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%20LIMITED%2004-Nov-2008_files/image003.gif){kind=small}
company information
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Registered Address |
Trading Address |
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Telephone Number |
01614803891 |
Telephone Number |
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TPS |
N |
TPS |
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Address |
Address |
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EC PIGMENTS |
Ec Pigments |
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Web Address |
ecpigments.com |
Incorporation Date |
03/12/1923 |
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Type of Accounts |
Full Accounts |
Filing Date of Accounts |
09/11/2007 |
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Company Type |
Private Limited With Share Capital |
Date of Latest Accounts |
31/03/2007 |
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Annual Return |
06/11/2007 |
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Previous Name(s) |
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Changed: |
01/04/1991 |
Ellis Jones & Company (stockport) Limited |
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Industry: |
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Manufacture Of Organic Pigments. |
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SIC Code |
Description |
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2412 |
Manufacture Of Dyes & Pigments |
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Mortgage Charges |
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Outstanding |
3 |
Satisfied |
8 |
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Shareholders |
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Share Capital |
461587 |
Currency |
Gbp |
Previous Names Details
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Previous Name(s) |
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Changed : |
01/04/1991 |
Ellis Jones & Company (stockport) Limited |
Secondary Industry Code Details
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SIC Code |
Description |
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2412 |
Manufacture Of Dyes & Pigments |
Mortgage Details
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Mortgage Type: |
debenture |
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Date Charge Created: |
08/07/2008 |
Date Charge Registered: |
11/07/2008 |
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Date Charge Satisfied: |
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Status: |
Outstanding |
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Person(s) Entitled: |
NATIONAL WESTMINSTER BANK PLC |
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Amount Secured: |
all monies due or to become due from the company to the chargee on any
account whatsoever |
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Details: |
fixed and floating charge over the undertaking and all property and assets
present and future, including goodwill, uncalled capital, buildings,
fixtures, fixed plant & machinery |
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Mortgage Type: |
legal mortgage |
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Date Charge Created: |
31/01/2006 |
Date Charge Registered: |
02/02/2006 |
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Date Charge Satisfied: |
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Status: |
Outstanding |
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Person(s) Entitled: |
HSBC BANK PLC |
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Amount Secured: |
all monies due or to become due from the company to the chargee on any
account whatsoever. |
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Details: |
f/h property k/a 2-34 (even number only) christie street stockport
cheshire t/no gm208596 05 with the benefit of all rights licencesguarantees
rent deposits contracts deeds undertakings and warranties relating to the
property any shares or membership rights in any management company for
theproperty any goodwill of any business from time to time carried on at the
property any rental and other money payable under any lease licence or other
interestcreated in respect of the property and all other payments whatever in
respect of the property |
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Mortgage Type: |
charge on non vesting debts |
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Date Charge Created: |
29/05/2005 |
Date Charge Registered: |
13/06/2005 |
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Date Charge Satisfied: |
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Status: |
Outstanding |
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Person(s) Entitled: |
LONDON BRIDGE FINANCE LIMITED |
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Amount Secured: |
all monies due or to become due from the company to the chargee on any
account whatsoever.under the terms of the aforementioned instrument creating
or evidencing the charge |
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Details: |
fixed charge on non-vesting debts floati ng charge other debts |
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Mortgage Type: |
guarantee & debenture |
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Date Charge Created: |
30/11/2004 |
Date Charge Registered: |
10/12/2004 |
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Date Charge Satisfied: |
25/04/2007 |
Status: |
Satisfied |
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Person(s) Entitled: |
BARCLAYS BANK PLC |
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Amount Secured: |
all monies due or to become due from the company and/or all or any of
the othercompanies named therein to the chargee on any account whatsoever. |
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Details: |
01 fixed and floating charges over the undertaking and all property
and assets present and future including goodwill bookdebts uncalled capital
buildings fixturesfixed plant and machinery. |
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Mortgage Type: |
fixed charge on purchased debts which fail to vest and on other debts
and floating charge on proceeds of other debts |
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Date Charge Created: |
28/04/2004 |
Date Charge Registered: |
08/05/2004 |
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Date Charge Satisfied: |
25/04/2007 |
Status: |
Satisfied |
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Person(s) Entitled: |
BARCLAYS BANK PLC |
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Amount Secured: |
all monies due or to become due from the company to the chargee under
the termsof the aforementioned instrument creating or evidencing the charge |
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Details: |
any debts purchased or purported to be p urchased including its
related rights bo th present and future which fail to vest absolutely and
effectively. all amounts of indebtedness on any account whatsoev er including
the related rights. y way o f floating charge such monies received i n
respect of the other debts |
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Mortgage Type: |
legal charge |
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Date Charge Created: |
24/05/1999 |
Date Charge Registered: |
26/05/1999 |
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Date Charge Satisfied: |
25/04/2007 |
Status: |
Satisfied |
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Person(s) Entitled: |
BARCLAYS BANK PLC,AS TRUSTEE FOR THE BENEFICIARIES |
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Amount Secured: |
all moneys,obligations and liabilities d ue or to become due from the
obligors (a s defined) and/or the us companies (as d efined) or any of them
to any of the ben eficiaries (as defined) under or in conn ection with the
financing documents (as defined) on any account whatsoever |
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Details: |
f/hold land/blds being part of 2 to 34 c hristie st,stockport,gt.manchester;
t/no gm208596; all other estates/interests a nd all
buildings,fixtures/fittings fixed plant machinery therein and proceeds of
sale thereof; all rights/claims,covenan ts,etc |
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Mortgage Type: |
legal charge |
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Date Charge Created: |
24/05/1999 |
Date Charge Registered: |
26/05/1999 |
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Date Charge Satisfied: |
25/04/2007 |
Status: |
Satisfied |
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Person(s) Entitled: |
BARCLAYS BANK PLC,AS TRUSTEE FOR THE BENEFICIARIES |
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Amount Secured: |
all moneys,obligations and liabilities d ue or to become due from the
obligors (a s defined) and/or the us companies (as d efined) or any of them
to any of the ben eficiaries (as defined) under or in conn ection with the
financing documents (as defined) on any account whatsoever |
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Details: |
l/hold land/blds on south east side of n athan
way,greenwich,gt.london; t/no ln23 7416; all buildings fixtures fittings pl
ant machinery therein and all rights int erests,etc |
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Mortgage Type: |
composite guarantee and debenture |
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Date Charge Created: |
24/05/1999 |
Date Charge Registered: |
26/05/1999 |
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Date Charge Satisfied: |
25/04/2007 |
Status: |
Satisfied |
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Person(s) Entitled: |
BARCLAYS BANK PLC |
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Amount Secured: |
all monies obligations and liabilities d ue or to become due from the
obligors (a s defined) and/or the us companies (as d efined) or any of them
to the chargee fo r itself and as trustee for the benefici aries (as defined)
(in such capacity the "security trustee") under or in connect ion
with the financing documents (as def ined) and/or on any account whatsoever a
nd pursuant to the banking agreements (a s defined) |
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Details: |
. 01 fixed and floating charges over the undertaking and all property and
assets present and future including goodwill bookdebts uncalled capital
buildings fixturesfixed plant and machinery. |
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Mortgage Type: |
legal charge |
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Date Charge Created: |
24/05/1999 |
Date Charge Registered: |
26/05/1999 |
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Date Charge Satisfied: |
25/04/2007 |
Status: |
Satisfied |
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Person(s) Entitled: |
BARCLAYS BANK PLC |
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Amount Secured: |
all monies obligations and liabilities d ue or to become due from the obligors
(a s defined) and/or the us companies (as d efined) or any of them to the
chargee fo r itself and as trustee for the benefici aries (as defined) (in
such capacity the "security trustee") under or in connect ion with
the financing documents (as def ined) and/or on any account whatsoever a nd
pursuant to the banking agreements (a s defined) |
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Details: |
f/h land and buildings on the south side of hempshaw lane stockport greater
manc hester t/nos: gm103775 and gm734257 toge ther with all buildings
fixtures and fit tings and fixed plant and machinery from time to time
therein or thereon and/or the proceeds of sale |
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Mortgage Type: |
mortgage debenture |
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Date Charge Created: |
02/12/1996 |
Date Charge Registered: |
11/12/1996 |
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Date Charge Satisfied: |
29/06/2004 |
Status: |
Satisfied |
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Person(s) Entitled: |
NATIONAL WESTMINSTER BANK PLC |
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Amount Secured: |
all monies due or to become due from the company to the chargee on any
account whatsoever. |
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Details: |
10 a specific equitable charge over all freehold and leasehold
properties and/or the proceeds of sale thereof, fixed and floating charges over
undertaking and allproperty and assets present and future including goodwill,
bookdebts and the benefits of any licences. |
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Mortgage Type: |
legal mortgage |
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Date Charge Created: |
30/09/1996 |
Date Charge Registered: |
08/10/1996 |
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Date Charge Satisfied: |
29/06/2004 |
Status: |
Satisfied |
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Person(s) Entitled: |
NATIONAL WESTMINSTER BANK PLC |
||
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Amount Secured: |
all monies due or to become due from the company to the chargee on any
account whatsoever. |
||
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|
Details: |
floating charge over all moveable plant, machinery, implements,
utensils, furnit ure and equipment, and an assignment of the goodwill and
connection of any busin ess, together with the full benefit of a ll licences
f/h property k/a land adjoin ing hempshaw lane stockport cheshire and the
proceeds of sale thereof |
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Shareholders Details
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|
Name |
Shares |
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|
European Colour Plc |
384,500 Deferred Gbp 1.00 |
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European Colour Plc |
511,870 Ordinary Gbp 0.10 |
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European Colour Plc |
13,100 Preference Gbp 1.00 |
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|
European Colour Plc |
128,000 Conv Pp Ord Gbp 0.10 |
Trading Address Details
|
|
Address |
Telephone Number |
TCPS |
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|
Ec Pigments Hempshaw Lane Stockport SK1 4LG |
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|
accounts
|
|
Annual Accounts |
04/06-03/07 |
Change (%) |
04/05-03/06 |
Change (%) |
04/04-03/05 |
|
|
Months |
12 |
- |
12 |
- |
12 |
|
|
Currency |
GBP |
- |
GBP |
- |
GBP |
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Consolidated A/cs |
N |
- |
N |
- |
N |
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|
Turnover |
14,987,000 |
-9.8 % |
16,610,000 |
-4.3 % |
17,362,000 |
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Export |
- |
- |
- |
-100.0 % |
12,572,000 |
|
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Cost of Sales |
12,146,000 |
-12.8 % |
13,921,000 |
-0.3 % |
13,968,000 |
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Gross Profit |
2,841,000 |
5.7 % |
2,689,000 |
-20.8 % |
3,394,000 |
|
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Wages & Salaries |
3,443,000 |
-21.3 % |
4,375,000 |
-0.8 % |
4,411,000 |
|
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Directors Emoluments |
- |
- |
- |
-100.0 % |
4,000 |
|
|
Operating Profits |
-418,000 |
74.3 % |
-1,627,000 |
-269.8 % |
-440,000 |
|
|
Depreciation |
405,000 |
-65.8 % |
1,184,000 |
119.7 % |
539,000 |
|
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Audit Fees |
12,000 |
-36.8 % |
19,000 |
35.7 % |
14,000 |
|
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Interest Payments |
649,000 |
15.7 % |
561,000 |
9.6 % |
512,000 |
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Pre Tax Profit |
5,433,000 |
348.3 % |
-2,188,000 |
-130.8 % |
-948,000 |
|
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Taxation |
80,000 |
-72.1 % |
287,000 |
-2.0 % |
293,000 |
|
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Profit After Tax |
5,513,000 |
390.0 % |
-1,901,000 |
-190.2 % |
-655,000 |
|
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Dividends Payable |
- |
- |
- |
- |
- |
|
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Retained Profits |
5,513,000 |
390.0 % |
-1,901,000 |
-190.2 % |
-655,000 |
|
|
Annual Accounts |
04/06-03/07 |
Change (%) |
04/05-03/06 |
Change (%) |
04/04-03/05 |
|
|
Tangible Assets |
4,289,000 |
-6.8 % |
4,602,000 |
-16.5 % |
5,509,000 |
|
|
Intangible Assets |
- |
-100.0 % |
7,000 |
16.7 % |
6,000 |
|
|
Total Fix Assets |
4,289,000 |
-6.9 % |
4,609,000 |
-16.4 % |
5,515,000 |
|
|
Total Current Assets |
5,711,000 |
2.3 % |
5,581,000 |
-11.3 % |
6,291,000 |
|
|
Trade Debtors |
2,605,000 |
-6.2 % |
2,776,000 |
1.3 % |
2,741,000 |
|
|
Stock |
2,846,000 |
11.2 % |
2,559,000 |
-19.7 % |
3,187,000 |
|
|
Cash |
49,000 |
- |
- |
- |
- |
|
|
Other Current Assets |
211,000 |
-14.2 % |
246,000 |
-32.2 % |
363,000 |
|
|
Increase In Cash |
49,000 |
- |
- |
100.0 % |
-14,000 |
|
|
Miscellaneous Current
Assets |
- |
- |
- |
- |
- |
|
|
Total Assets |
10,000,000 |
-1.9 % |
10,190,000 |
-13.7 % |
11,806,000 |
|
|
Total Current Liabilities |
4,674,000 |
-6.2 % |
4,985,000 |
4.0 % |
4,793,000 |
|
|
Trade Creditors |
1,351,000 |
6.1 % |
1,273,000 |
-29.6 % |
1,809,000 |
|
|
Bank Overdraft |
1,779,000 |
-5.0 % |
1,873,000 |
-1.3 % |
1,897,000 |
|
|
Other Short Term Fin |
1,205,000 |
31.1 % |
919,000 |
96.4 % |
468,000 |
|
|
Miscellaneous Current
Liabilities |
339,000 |
-63.2 % |
920,000 |
48.6 % |
619,000 |
|
|
Other Long Term Fin |
2,490,000 |
-65.1 % |
7,129,000 |
-1.4 % |
7,233,000 |
|
|
Total Long Term
Liabilities |
2,658,000 |
-66.5 % |
7,944,000 |
9.4 % |
7,260,000 |
|
|
Bank Overdraft & LTL |
4,437,000 |
-54.8 % |
9,817,000 |
7.2 % |
9,157,000 |
|
|
Total Liabilities |
7,332,000 |
-43.3 % |
12,929,000 |
7.3 % |
12,053,000 |
|
|
Net Assets |
2,668,000 |
197.4 % |
-2,739,000 |
-1,008.9 % |
-247,000 |
|
|
Working Capital |
1,037,000 |
74.0 % |
596,000 |
-60.2 % |
1,498,000 |
|
|
Annual Accounts |
04/06-03/07 |
Change (%) |
04/05-03/06 |
Change (%) |
04/04-03/05 |
|
|
Paid up equity |
51,000 |
- |
51,000 |
-88.9 % |
461,000 |
|
|
P&L Account Reserve |
2,614,000 |
193.6 % |
-2,793,000 |
-125.8 % |
-1,237,000 |
|
|
Sundry Reserves |
3,000 |
- |
3,000 |
- |
3,000 |
|
|
Revaluation Reserve |
- |
- |
- |
-100.0 % |
526,000 |
|
|
Shareholder Funds |
2,668,000 |
197.4 % |
-2,739,000 |
-1,008.9 % |
-247,000 |
|
|
Net Worth |
2,668,000 |
197.2 % |
-2,746,000 |
-985.4 % |
-253,000 |
|
|
Annual Accounts |
04/06-03/07 |
Change (%) |
04/05-03/06 |
Change (%) |
04/04-03/05 |
||||
|
|
Net Cashflow from
Operations |
-1,266,000 |
- |
- |
- |
- |
||||
|
|
Net Cashflow before
Financing |
-1,364,000 |
- |
- |
- |
- |
||||
|
|
Net Cashflow from
Financing |
1,507,000 |
- |
- |
- |
- |
||||
|
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
||||
|
|
Capital Employed |
5,326,000 |
2.3 % |
5,205,000 |
-25.8 % |
7,013,000 |
||||
|
|
No of Employees |
105 |
-21.1 % |
133 |
-2.9 % |
137 |
||||
|
|
Auditors |
CLB COOPERS |
|
||||||
|
|
AuditQualification |
No Adverse Comments |
|
||||||
|
|
Bankers |
BARCLAYS BANK PLC |
|
||||||
|
|
BankBranchCode |
20-82-14 |
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||||||
|
|
Annual Accounts |
04/06-03/07 |
04/05-03/06 |
04/04-03/05 |
|
|
Pre-tax profit margin % |
36.3 % |
-13.2 % |
-5.5 % |
|
|
Current ratio |
1.22 |
1.12 |
1.31 |
|
|
Sales/Net Working Capital |
14.45 |
27.87 |
11.59 |
|
|
Gearing % |
166.3 % |
-358.4 % |
-3,707.3 % |
|
|
Equity in % |
26.7 % |
-26.9 % |
-2.1 % |
|
|
Creditor Days |
32.81 |
27.97 |
38.03 |
|
|
Debtor Days |
63.27 |
61.00 |
57.62 |
|
|
Liquidity/Acid Test |
0.61 |
0.61 |
0.65 |
|
|
Return On Capital Employed
% |
102.0 % |
-42.0 % |
-13.5 % |
|
|
Return On Total Assets
Employed % |
54.3 % |
-21.5 % |
-8.0 % |
|
|
Current Debt Ratio % |
1.8 % |
-1.8 % |
-19.4 % |
|
|
Total Debt Ratio % |
2.8 % |
-4.7 % |
-48.8 % |
|
|
Stock Turnover Ratio % |
19.0 % |
15.4 % |
18.4 % |
|
|
Return on Net Assets
Employed % |
203.6 % |
79.9 % |
383.8 % |
group structure
|
|
Ultimate Parent Company |
POCHTECA (TCI) LTD |
|
|
Companies in Group |
8 |
|
|
Company Name |
Registered Number |
Latest Annual Accounts |
|
|
POCHTECA (TCI) LTD |
TURKS&CAICOS |
N/A |
|
|
EUROPEAN COLOUR PLC |
00065706 |
31/03/2007 |
|
|
ELLIS JONES & COMPANY (STOCKPORT) LIMITED |
02567152 |
31/03/2007 |
|
|
EUROPEAN COLOUR (NO 2) LIMITED |
03739392 |
31/03/2007 |
|
|
EUROPEAN COLOUR (NO 1) LIMITED |
03739458 |
31/03/2007 |
|
|
EC PIGMENTS UK LIMITED |
05116934 |
31/03/2007 |
|
|
EUROPEAN COLOUR (PIGMENTS) LIMITED<<< |
00194139 |
31/03/2007 |
|
|
HORACE CORY LIMITED |
00541407 |
31/03/2007 |
Status History
|
Date |
Description |
|
No Status History |
|
Event History
|
Date |
Description |
|
05/12/2007 |
Annual Returns |
|
19/11/2007 |
New Accounts Filed |
|
29/01/2007 |
New Accounts Filed |
|
01/02/2006 |
New Accounts Filed |
|
16/11/2005 |
New Accounts Filed |
|
29/12/2004 |
New Accounts Filed |
|
08/12/2004 |
Annual Returns |
|
22/04/2004 |
Annual Returns |
|
10/04/2004 |
Lisa De Caux Has Left The Board |
|
10/04/2004 |
George Hughes Has Left The Board |
|
10/04/2004 |
New Board Member (mike Johnquayle) Appointed |
|
10/04/2004 |
New Board Member (stephen Ralphsmith) Appointed |
directors
|
|
Name |
Mike John Quayle |
|
|
|
|
Address |
4 Crompton Drive |
|
|
|
|
|
Winwick |
||
|
|
|
Cheshire |
||
|
|
|
WA2 8XQ |
||
|
|
Officers Title |
Mr |
Date Of Birth |
25/06/1969 |
|
|
Honours |
|
Present Appointments |
14 |
|
|
Appointment Date |
14/04/2004 |
Function |
Company Secretary |
|
|
|
|
|
|
|
|
Name |
Mike John Quayle |
|
|
|
|
Address |
4 Crompton Drive |
|
|
|
|
|
Winwick |
||
|
|
|
Cheshire |
||
|
|
|
WA2 8XQ |
||
|
|
Officers Title |
Mr |
Date Of Birth |
25/06/1969 |
|
|
Honours |
|
Present Appointments |
14 |
|
|
Appointment Date |
14/04/2004 |
Function |
Director |
|
|
|
|
|
|
|
|
Name |
Stephen Ralph Smith |
|
|
|
|
Address |
5 Edwardes Place |
|
|
|
|
|
London |
||
|
|
|
W8 6LR |
||
|
|
Officers Title |
Mr |
Date Of Birth |
26/09/1945 |
|
|
Honours |
|
Present Appointments |
9 |
|
|
Appointment Date |
14/04/2004 |
Function |
Director |
|
|
|
|
|
|
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.62 |
|
UK Pound |
1 |
Rs.76.71 |
|
Euro |
1 |
Rs.61.30 |
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%)