MIRA INFORM REPORT

 

 

Report Date :

21.11.2008

 

IDENTIFICATION DETAILS

 

Name :

CHELMER FOODS LIMITED                          

 

 

Registered Office :

Excel House, 1 Hornminster Glen, Hornchurch, Essex RM11 3XL

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

06.04.1992

 

 

Legal Form :

Private Limited with Share Capital

 

 

Line of Business :

Import and Distribution of Edible Nuts and Dried Fruit.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

[£] 100,000

 

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

Name of the company   

 

CHELMER FOODS LIMITED                          

Number        02704138                                     

 

 

company summary

 

 

Phone

 

Type

Private limited with Share Capital

 

 

Address

EXCEL HOUSE,
1 HORNMINSTER GLEN,
HORNCHURCH,
ESSEX RM11 3XL

Company Status

Active - Accounts Filed

 

 

Postcode

RM11 3XL

Incorporated Date

06/04/1992

 

 

 Todays Limit [£]                                                      100,000                                                                     

 

 

Active CCJ's

0

 

 

 

Value of CCJ's [£]

£0

 

 

 

Number Of Writs

0

 

 

 

 

Current Directors

4

 

 

Total Directorships

7

 

 

 

Trading to Date

31/03/07

31/03/06

31/03/05

 

Turnover

-

-

-

 

Shareholder Funds

£2,618,752

£2,315,490

£2,017,219

 

Employees

3

9

10

 

 

Trends

 

 

 

Profitability

 

 

Liquidity

 

 

Shareholders Funds

 

 

 

company information

 

 

Registered Address

Trading Address

 

Telephone Number

 

Telephone Number

 

 

TPS

 

TPS

 

 

Address

Address

 

EXCEL HOUSE
1 HORNMINSTER GLEN
HORNCHURCH
ESSEX RM11 3XL

Excel House
1 Hornminster Glen
Hornchurch
RM11 3XL

 

 

Web Address

chelmerfoods.com

Incorporation Date

06/04/1992

 

Type of Accounts

Medium Company

Filing Date of Accounts

17/10/2007

 

Company Type

Private Limited With Share Capital

Date of Latest Accounts

31/03/2007

 

Annual Return

06/04/2008

 

 

 

 

 

Industry:

 

The Import And Distribution Of Edible Nuts And Dried Fruit.

 

 

 

 

 

SIC Code

Description

 

1533

Processing & Preserving Of Fruit & Vegetables

 

 

Mortgage Charges

 

Outstanding

1

Satisfied

0

 

 

Shareholders

 

Share Capital

1000

Currency

Gbp

 

 

Secondary Industry Code Details           

 

 

SIC Code

Description

 

1533

Processing & Preserving Of Fruit & Vegetables

 

 

Mortgage Details

           

 

Mortgage Type:

debenture

 

Date Charge Created:

25/11/1998

Date Charge Registered:

04/12/1998

 

Date Charge Satisfied:

 

Status:

Outstanding

 

Person(s) Entitled:

LLOYDS BANK PLC

 

Amount Secured:

all monies due or to become due from the company to the chargee on any account whatsoever.

 

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.

 

 

Shareholders Details

 

 

Name

Shares

 

R A Weaire

1,000 Ordinary Gbp 1.00

 

 

Trading Address Details

           

 

Address

Telephone Number

TCPS

 

Excel House 1 Hornminster Glen Hornchurch RM11 3XL

 

 

accounts

 

PROFIT & LOSS

 

 

Annual Accounts

04/06-03/07

Change (%)

04/05-03/06

Change (%)

04/04-03/05

 

Months

12

-

12

-

12

 

Currency

GBP

-

GBP

-

GBP

 

Consolidated A/cs

N

-

N

-

N

 

Turnover

-

-

-

-

-

 

Export

-

-

-

-

-

 

Cost of Sales

-

-

-

-

-

 

Gross Profit

1,336,827

12.5 %

1,187,769

21.1 %

980,450

 

Wages & Salaries

578,177

16.3 %

497,246

1.6 %

489,316

 

Directors Emoluments

292,072

4.7 %

278,887

18.1 %

236,074

 

Operating Profits

447,461

2.6 %

435,919

22.6 %

355,575

 

Depreciation

1,042

18.4 %

880

-21.3 %

1,118

 

Audit Fees

33,187

514.6 %

5,400

-

5,400

 

Interest Payments

14,748

-6.4 %

15,748

930.0 %

1,529

 

Pre Tax Profit

436,362

3.1 %

423,192

17.8 %

359,359

 

Taxation

-133,100

-6.5 %

-124,921

-69.1 %

-73,878

 

Profit After Tax

303,262

1.7 %

298,271

4.5 %

285,481

 

Dividends Payable

-

-

-

-

-

 

Retained Profits

303,262

1.7 %

298,271

4.5 %

285,481

 

BALANCE SHEET        

 

Annual Accounts

04/06-03/07

Change (%)

04/05-03/06

Change (%)

04/04-03/05

 

Tangible Assets

6,239

72.6 %

3,615

-19.6 %

4,495

 

Intangible Assets

-

-

-

-

-

 

Total Fix Assets

6,239

72.6 %

3,615

-19.6 %

4,495

 

Total Current Assets

6,303,499

9.7 %

5,744,937

37.9 %

4,166,740

 

Trade Debtors

3,683,797

-12.5 %

4,209,110

55.6 %

2,705,921

 

Stock

2,409,057

65.6 %

1,454,905

29.6 %

1,122,861

 

Cash

164,688

173.9 %

60,125

-81.2 %

320,280

 

Other Current Assets

45,957

121.0 %

20,797

17.6 %

17,678

 

Increase In Cash

104,563

140.2 %

-260,155

-812.8 %

36,499

 

Miscellaneous Current Assets

-

-

-

-

-

 

Total Assets

6,309,738

9.8 %

5,748,552

37.8 %

4,171,235

 

Total Current Liabilities

3,690,986

7.5 %

3,432,560

59.4 %

2,153,452

 

Trade Creditors

2,746,546

-12.7 %

3,147,702

62.4 %

1,938,054

 

Bank Overdraft

703,863

664.3 %

92,096

-

-

 

Other Short Term Fin

71,228

-

-

-100.0 %

1,450

 

Miscellaneous Current Liabilities

169,349

-12.1 %

192,762

-9.9 %

213,948

 

Other Long Term Fin

-

-

-

-

-

 

Total Long Term Liabilities

-

-100.0 %

502

-11.0 %

564

 

Bank Overdraft & LTL

703,863

660.1 %

92,598

999.9%

564

 

Total Liabilities

3,690,986

7.5 %

3,433,062

59.4 %

2,154,016

 

Net Assets

2,618,752

13.1 %

2,315,490

14.8 %

2,017,219

 

Working Capital

2,612,513

13.0 %

2,312,377

14.9 %

2,013,288

CAPITALS & RESERVES

 

 

Annual Accounts

04/06-03/07

Change (%)

04/05-03/06

Change (%)

04/04-03/05

 

Paid up equity

1,000

-

1,000

-

1,000

 

P&L Account Reserve

2,617,752

13.1 %

2,314,490

14.8 %

2,016,219

 

Sundry Reserves

-

-

-

-

-

 

Revaluation Reserve

-

-

-

-

-

 

Shareholder Funds

2,618,752

13.1 %

2,315,490

14.8 %

2,017,219

 

Net Worth

2,618,752

13.1 %

2,315,490

14.8 %

2,017,219

 

 

MISCELLANEOUS

 

Annual Accounts

04/06-03/07

Change (%)

04/05-03/06

Change (%)

04/04-03/05

 

Net Cashflow from Operations

-371,988

-241.6 %

262,739

189.0 %

90,921

 

Net Cashflow before Financing

-507,204

-243.9 %

352,500

955.2 %

33,407

 

Net Cashflow from Financing

-

-

-

-

-

 

Contingent Liability

NO

-

NO

-

NO

 

Capital Employed

2,618,752

13.1 %

2,315,992

14.8 %

2,017,783

 

No of Employees

3

-66.7 %

9

-10.0 %

10

 

     

Auditors

SHROFF ACCOUNTANCY SERVICES

 

AuditQualification

No Adverse Comments

 

Bankers

LLOYDS TSB BANK PLC

 

BankBranchCode

 

 

RATIOS

 

Annual Accounts

04/06-03/07

04/05-03/06

04/04-03/05

 

Pre-tax profit margin %

-

-

-

 

Current ratio

1.71

1.67

1.93

 

Sales/Net Working Capital

-

0.00

0.00

 

Gearing %

26.9 %

4.0 %

0.0 %

 

Equity in %

41.5 %

40.3 %

48.4 %

 

Creditor Days

-

-

-

 

Debtor Days

-

-

-

 

Liquidity/Acid Test

1.06

1.25

1.41

 

Return On Capital Employed %

16.7 %

18.3 %

17.8 %

 

Return On Total Assets Employed %

6.9 %

7.4 %

8.6 %

 

Current Debt Ratio %

1.4 %

1.5 %

1.1 %

 

Total Debt Ratio %

1.4 %

1.5 %

1.1 %

 

Stock Turnover Ratio %

-

-

-

 

Return on Net Assets Employed %

16.7 %

18.3 %

17.8 %

 

 

group structure

 

No group structure for this company.

 

 

Status History

 

Date

Description

No Status History

 

Event History

 

Date

Description

11/04/2008

Annual Returns

26/10/2007

New Accounts Filed

20/03/2007

New Company Secretary (marcus Philipwelch) Appointed

20/03/2007

Cherrill Avisdavey Has Resigned As Company Secretary

13/03/2007

New Accounts Filed

20/07/2005

New Accounts Filed

18/09/2004

Directors Data Refresh

09/08/2004

New Accounts Filed

12/06/2004

Data Refresh

08/06/2004

Annual Returns

 

 

directors

 

 

Name

Marcus Philip Welch

 

 

Address

12 Highview Close

 

 

 

Sudbury

 

 

Suffolk

 

 

CO10 1LY

 

Officers Title

Mr

Date Of Birth

13/01/1968

 

Honours

 

Present Appointments

3

 

Appointment Date

31/01/2007

Function

Company Secretary

 

 

Name

Marcus Philip Welch

 

 

Address

12 Highview Close

 

 

 

Sudbury

 

 

Suffolk

 

 

CO10 1LY

 

Officers Title

Mr

Date Of Birth

13/01/1968

 

Honours

 

Present Appointments

3

 

Appointment Date

01/09/2004

Function

Director

 

 

Name

Roger Arthur Weaire

 

 

Address

Redfants Cottage

 

 

 

Hulls Lane

 

 

Braintree

 

 

Essex

 

 

CM7 5HT

 

Officers Title

Mr

Date Of Birth

28/03/1945

 

Honours

 

Present Appointments

2

 

Appointment Date

06/04/1993

Function

Director

 

 

 

Name

James  Weaire

 

 

Address

23 Summerfields

 

 

 

Sible Hedingham

 

 

Essex

 

 

CO9 3HS

 

Officers Title

Mr

Date Of Birth

05/04/1978

 

Honours

 

Present Appointments

2

 

Appointment Date

01/09/2004

Function

Director

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.03

UK Pound

1

Rs.74.42

Euro

1

Rs.62.71

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions