MIRA INFORM REPORT

 

 

 

Report Date :

16.09.2008

 

IDENTIFICATION DETAILS

 

Name :

THYSSENKRUPP AEROSPACE UK LTD        

 

 

Formerly Known as :

APOLLO METALS LIMITED

 

 

Registered Office :

Apollo House, Redfern Road,  Tyseley,  Birmingham B11 2BH

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.01.2007

 

 

Date of Incorporation :

17.05.1985

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Wholesale of Metals and Metal Ores

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

Name of the company

 

THYSSENKRUPP AEROSPACE UK LTD        

Number      01914559                                     

 

 

company summary

 

Address                        APOLLO HOUSE,
REDFERN ROAD,
TYSELEY,
BIRMINGHAM B11 2BH

Postcode                      B11 2BH

Phone                           01213355100

Type                             Private limited with Share Capital

Company Status            Active - Accounts File

Incorporated Date           17/05/1985

 

 

 

Current Directors                        5

Total Directorships                     10

Trading to Date                          31/01/07            31/01/06            31/01/05

Turnover                                    £84,509,000      £65,245,000      £60,396,000

Shareholder Funds                     £-1,275,000       £-4,410,000       £-5,023,000

Employees                                311                   306                   346

 

Trends

 

Profitability

Liquidity

Shareholders Funds

 

 

company information

 

Registered Address

Telephone Number         0121 3355100

TPS                              N

Address                        APOLLO HOUSE
REDFERN ROAD
TYSELEY
BIRMINGHAM B11 2BH

 

Trading Address

 Telephone Number        01213355100

TPS

Address                        Apollo House

Redfern Road
Tyseley
Birmingham
B11 2BH

 

Web Address                apollometals.com

Incorporation Date          17/05/1985

Type of Accounts           Full Accounts

Filing Date of Accounts  28/11/2007

Company Type              Private Limited With Share Capital

Date of Latest Accounts 31/01/2007

Annual Return                30/01/2008

 

Previous Name(s)

 Changed:                     06/06/2008        Apollo Metals Limited

 

Industry:

 Chain Management Contracts, Processing And Distribution Of A Specialised Range Of Aluminium, Steel, Titanium And Other Products To High Techonology Customers.

 

 

 

SIC Code                     Description

 5152                            Wholesale Of Metals & Metal Ores

 

 

Mortgage Charges

 Outstanding                      0                Satisfied               2 

 

Shareholders

Share Capital                 3295390            Currency           Gbp

 

 

Previous Names Details

 

 

 Previous Name(s)

Changed :                     06/06/2008                    Apollo Metals Limited

Changed :                     31/03/2000                    Apollo Metals Plc

Changed :                     23/11/1988                    Equalwise Limited

 

 

 

Secondary Industry Code Details

 

 

SIC Code                                 Description

 5152                                        Wholesale Of Metals & Metal Ores

 

 

 

Mortgage Details

 

 

 

Mortgage Type:           composite guarantee and debenture

Date Charge Created:              07/04/2000        Date Charge Registered:         21/04/2000

Date Charge Satisfied:             15/01/2008        Status:                                     Satisfied

Person(s) Entitled:        THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND

Amount Secured:

Details:

01fixed and floating charges over the undertaking and all property and assets present and future including goodwill bookdebts uncalled capital buildings fixturesfixed plant and machinery.

 

 

 

 

Mortgage Type:           composite guarantee and debenture

Date Charge Created:              28/03/2000        Date Charge Registered:         11/04/2000

Date Charge Satisfied:             15/01/2008        Status:                                     Satisfied

Person(s) Entitled:        THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND ("THE SECURITY TRUSTEE")

Amount Secured:

Details:

the f/h land adjoining doris road and garrison lane t/n wm690845 (for details of further properties charged please refer to form 395) 01fixed 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

Thyssenkrupp Uk Plc                             32,953,900 Ordinary Gbp 0.10

 

 

Trading Address Details

 

Address                                                                                                        Telephone Number                      TCPS

APOLLO HOUSE REDFERN RD BIRMINGHAM WEST MIDLANDS B11 2BH         01213355050                 N

APOLLO HOUSE REDFERN RD BIRMINGHAM WEST MIDLANDS B11 2BH         01213355100                 N

Apollo House Redfern Road Tyseley Birmingham B11 2BH

 

 

accounts

 

PROFIT & LOSS

 

 

Annual Accounts

02/06-01/07

Change (%)

02/05-01/06

Change (%)

01/04-01/05

 

Months

12

-

12

-

13

 

Currency

GBP

-

GBP

-

GBP

 

Consolidated A/cs

N

-

N

-

N

 

Turnover

84,509,000

29.5 %

65,245,000

8.0 %

60,396,000

 

Export

16,551,000

99.6 %

8,294,000

16.9 %

7,096,000

 

Cost of Sales

66,880,000

20.7 %

55,408,000

0.1 %

55,337,000

 

Gross Profit

17,629,000

79.2 %

9,837,000

94.4 %

5,059,000

 

Wages & Salaries

9,224,000

3.9 %

8,880,000

-14.5 %

10,381,000

 

Directors Emoluments

571,000

-

-

-

-

 

Operating Profits

6,105,000

999.9%

158,000

102.2 %

-7,049,000

 

Depreciation

799,000

-26.6 %

1,089,000

-8.6 %

1,192,000

 

Audit Fees

79,000

12.9 %

70,000

7.7 %

65,000

 

Interest Payments

2,153,000

14.9 %

1,873,000

-9.9 %

2,079,000

 

Pre Tax Profit

4,159,000

483.3 %

-1,085,000

87.6 %

-8,724,000

 

Taxation

-1,024,000

-160.3 %

1,698,000

312.1 %

412,000

 

Profit After Tax

3,135,000

411.4 %

613,000

107.4 %

-8,312,000

 

Dividends Payable

-

-

-

-

-

 

Retained Profits

3,135,000

411.4 %

613,000

107.4 %

-8,312,000

 

BALANCE SHEET

 

 

Annual Accounts

02/06-01/07

Change (%)

02/05-01/06

Change (%)

01/04-01/05

 

Tangible Assets

11,947,000

-5.2 %

12,601,000

-11.5 %

14,239,000

 

Intangible Assets

-

-

-

-

-

 

Total Fix Assets

11,947,000

-5.2 %

12,601,000

-11.5 %

14,239,000

 

Total Current Assets

46,347,000

25.4 %

36,957,000

33.1 %

27,765,000

 

Trade Debtors

16,195,000

32.1 %

12,261,000

17.2 %

10,461,000

 

Stock

26,627,000

33.4 %

19,963,000

29.7 %

15,390,000

 

Cash

-

-

-

-

-

 

Other Current Assets

3,525,000

-25.5 %

4,733,000

147.3 %

1,914,000

 

Increase In Cash

-

-

-

-

-

 

Miscellaneous Current Assets

-

-

-

-

-

 

Total Assets

58,294,000

17.6 %

49,558,000

18.0 %

42,004,000

 

Total Current Liabilities

43,318,000

10.0 %

39,365,000

16.7 %

33,746,000

 

Trade Creditors

12,588,000

-0.1 %

12,597,000

63.8 %

7,689,000

 

Bank Overdraft

20,536,000

4.7 %

19,610,000

-5.5 %

20,744,000

 

Other Short Term Fin

3,273,000

716.2 %

401,000

-52.4 %

843,000

 

Miscellaneous Current Liabilities

6,921,000

2.4 %

6,757,000

51.2 %

4,470,000

 

Other Long Term Fin

16,251,000

11.3 %

14,603,000

10.0 %

13,281,000

 

Total Long Term Liabilities

16,251,000

11.3 %

14,603,000

10.0 %

13,281,000

 

Bank Overdraft & LTL

36,787,000

7.5 %

34,213,000

0.6 %

34,025,000

 

Total Liabilities

59,569,000

10.4 %

53,968,000

14.8 %

47,027,000

 

Net Assets

-1,275,000

71.1 %

-4,410,000

12.2 %

-5,023,000

 

Working Capital

3,029,000

225.8 %

-2,408,000

59.7 %

-5,981,000

 

CAPITALS & RESERVES

 

 

Annual Accounts

02/06-01/07

Change (%)

02/05-01/06

Change (%)

01/04-01/05

 

Paid up equity

3,295,000

-

3,295,000

-

3,295,000

 

P&L Account Reserve

-22,227,000

12.4 %

-25,362,000

2.4 %

-25,975,000

 

Sundry Reserves

17,657,000

-

17,657,000

-

17,657,000

 

Revaluation Reserve

-

-

-

-

-

 

Shareholder Funds

-1,275,000

71.1 %

-4,410,000

12.2 %

-5,023,000

 

Net Worth

-1,275,000

71.1 %

-4,410,000

12.2 %

-5,023,000

 

MISCELLANEOUS

 

 

Annual Accounts

02/06-01/07

Change (%)

02/05-01/06

Change (%)

01/04-01/05

 

Net Cashflow from Operations

-

-

-

-

-

 

Net Cashflow before Financing

-

-

-

-

-

 

Net Cashflow from Financing

-

-

-

-

-

 

Contingent Liability

YES

-

YES

-

YES

 

Capital Employed

14,976,000

46.9 %

10,193,000

23.4 %

8,258,000

 

No of Employees

311

1.6 %

306

-11.6 %

346

     

Auditors

GRANT THORNTON UK LLP

 

AuditQualification

No Adverse Comments

 

Bankers

BANK OF SCOTLAND

 

BankBranchCode

 

 

RATIOS

 

Annual Accounts

02/06-01/07

02/05-01/06

01/04-01/05

 

Pre-tax profit margin %

4.9 %

-1.7 %

-14.4 %

 

Current ratio

1.07

0.94

0.82

 

Sales/Net Working Capital

27.90

-27.10

-10.10

 

Gearing %

-2,885.3 %

-775.8 %

-677.4 %

 

Equity in %

-2.2 %

-8.9 %

-12.0 %

 

Creditor Days

54.22

70.47

46.47

 

Debtor Days

69.76

68.59

63.22

 

Liquidity/Acid Test

0.46

0.43

0.37

 

Return On Capital Employed %

27.8 %

-10.6 %

-105.6 %

 

Return On Total Assets Employed %

7.1 %

-2.2 %

-20.8 %

 

Current Debt Ratio %

-34.0 %

-8.9 %

-6.7 %

 

Total Debt Ratio %

-46.7 %

-12.2 %

-9.4 %

 

Stock Turnover Ratio %

31.5 %

30.6 %

25.5 %

 

Return on Net Assets Employed %

-326.2 %

24.6 %

173.7 %

 

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 Credit Limit Explanation                                                                                                           

The Recommended Credit Limit is calculated using a formula that analyses information from a company's financial accounts and payment record.
The advised amount can be defined as the maximum amount that could be advanced in any one calendar month, assuming standard payment terms of 30 days beyond the month of invoice. Therefore the same maximum amount could be advanced in the next calendar month.                                                                                                                    

 

Date                                                                     Description

10/12/2007                                                            Caution - Credit at your discretion

14/12/2005                                                            Caution - Credit at your discretion

08/12/2005                                                            Financial Statements too old

11/02/2005                                                            Credit Worthy

13/12/2004                                                            Financial Statements too old

 

 

 

group structure

 

 Ultimate Parent Company                      THYSSEN KRUPP AG

 Companies in Group                              59

 

 

 

                                                                                      Company Name   Registered Number            Latest Annual Accounts

                                                                                      THYSSEN KRUPP AG GERMANY        N/A

                                                                                      ROLLIX DEFONTAINE SA        FRANCE           N/A

                                                                                      DEFONTAINE (U.K.) LIMITED   01953338          30/09/2007

                                                                                      THYSSENKRUPP UK PLC       02452909          30/09/2007

                                                                                      BARDECK LIFT ENGINEERS LIMITED  01098928          30/09/2007

                                                                                      BERCO (UK) LTD. 01035805    30/09/2007

                                                                                      NOTHELFER UK LIMITED        01294792          30/09/2007

                                                                                      OSC PROCESS ENGINEERING LIMITED         01177488 30/09/2007

                                                                                      POLYSIUS LIMITED    00442739          30/09/2006

                                                                                      THYSSEN PROJECT SERVICE LIMITED          02758463 30/09/2004

                                                                                      THYSSEN STAHLUNION HOLDINGS LIMITED   00665867 30/09/2007

                                                                                      THYSSENKRUPP MATERIALS (UK) LIMITED   00645702 30/09/2007

                                                                                      VETCHBERRY      01691709    30/09/2007

                                                                                      METALFAST LIMITED  01776364          30/09/2007

                                                                                      THYSSENKRUPP BUILDING SYSTEMS LTD    02261556 30/09/2006

                                                                                      THYSSENKRUPP AUTOMOTIVE (UK) LIMITED 01900374 30/09/2007

                                                                                      THYSSENKRUPP BODY STAMPINGS LIMITED            00024190 30/09/2007

                                                                                      QDF COMPONENTS LIMITED  00959361          30/09/2007

                                                                                      THYSSENKRUPP CAMFORD ENGINEERING PLC        01048012 30/09/2007

                                                                                      THYSSENKRUPP BIRMID LIMITED      02405387          30/09/2007

                                                                                      BIRMID HOLDINGS PENSION TRUSTEES LIMITED       02538573 30/09/2006

                                                                                      KRUPP CAMFORD PRESSINGS LIMITED        02317654 30/09/2007

                                                                                      THYSSENKRUPP AUTOMOTIVE SYSTEMS UK LIMITED03683325 30/09/2007

                                                                                       THYSSENKRUPP BILSTEIN WOODHEAD LIMITED      02479379 30/09/2007

                                                                                      THYSSENKRUPP AUTOMOTIVE CHASSIS PRODUCTS

 UK PLC                                                                          02265757              30/09/2007

THYSSENKRUPP CAMFORD LIMITED                            00821027              30/09/2007

THYSSENKRUPP AUTOMOTIVE TALLENT

SERVICES LTD                                                               00545216              30/09/2007

THYSSENKRUPP TALLENT LIMITED                               00452916              30/09/2007

THYSSENKRUPP INTERMEDIATE UK LIMITED                02586500              30/09/2007

KRUPP INDUSTRIES LIMITED                                         01727826              30/06/2006

ROBALLO ENGINEERING COMPANY LIMITED                01234841              30/09/2007

THYSSENKRUPP MATERIALS HANDLING LTD.               01473199              30/09/2007

THYSSENKRUPP AUFZUGE LIMITED                             01734279              30/09/2007

HAMMOND & CHAMPNESS LIMITED                              00272643              30/09/2007

THYSSEN MODERNISATION LIMITED                             01259830              30/09/2006

ASSOCIATED LIFT SERVICES LIMITED                           02242349              30/09/2006

THE BRITANNIC LIFT COMPANY PLC                             01685723              30/09/2007

PARKLANDS GROUP LIMITED                                        02991973              30/09/2006

D & A LIFTS LIMITED                                                      01449200              30/09/2006

SCOTT FABRICATIONS LIMITED                                     01855356              30/09/2006

THYSSENKRUPP ELEVATOR UK LIMITED                      00688790              30/09/2007

THYSSENKRUPP ACCESS LIMITED                               01166449              30/09/2007

THYSSENKRUPP AEROSPACE UK LTD<<<                   01914559              31/01/2007

AVIATION METALS LIMITED                                           01425016              31/01/2007

MMG SHELF 1 LIMITED                                                  01671412              31/01/2007

MMG SHELF 10 LIMITED                                                02920507              31/01/2007

MMG SHELF 11 LIMITED                                                03802007              31/01/2007

MMG SHELF 2 LIMITED                                                  03770268              31/01/2007

THYSSENKRUPP AEROSPACE INTERNATIONAL

 HOLDINGS LTD                                                              01441082              31/01/2007

MMG SHELF 9 LIMITED                                                  02687526              31/01/2007

THYSSENKRUPP ELEVATOR (ES/PBB) LIMITED            03380496              30/09/2007

THYSSENKRUPP KRAUSE LTD                                      01541188              30/09/2006

THYSSENKRUPP MANNEX UK LTD                                01072733              30/09/2007

THYSSENKRUPP PALMERS LIMITED                             00159161              30/09/2007

THYSSENKRUPP STAINLESS UK LIMITED                     01569434              30/09/2007

THYSSENKRUPP SERVICES UK LIMITED                       03671804              30/09/2007

THYSSENKRUPP SERVICES LIMITED                            00445575              30/09/2007

THYSSENKRUPP TECHNOLOGIES AG                           GERMANY           N/A

THYSSENKRUPP KNOWSLEY LIMITED                          SC034273             30/09/2007

 

 

 

Status History

 

 

Date                                  Description

No Status History

 

 

 

 

Event History

 

 

Date                Description

12/06/2008       Change Of Name

17/03/2008       Annual Returns

10/12/2007       New Accounts Filed

12/12/2006       New Accounts Filed

27/01/2006       New Board Member (stuart Jameswilkins) Appointed

23/01/2006       New Board Member (james Donald Gilmourwilson) Appointed

20/01/2006       Kenneth Andrewcockburn Has Left The Board

 

 

 

20/01/2006       New Board Member (graeme Hill) Appointed

14/12/2005       New Accounts Filed

18/02/2005       Annual Returns

11/02/2005       New Accounts Filed

10/01/2005       David Rossmintrim Has Left The Board

10/01/2005       Clive Orford Has Left The Board

10/01/2005       New Board Member (david William Murrayhorne) Appointed

10/01/2005       New Board Member (kenneth Andrewcockburn) Appointed

 

directors

 

                                      Name                                   Joachim Otto Jacob Limberg    

                                      Address                                Kaiser-Wilhelm-Ring 41    

                                                 Dusseldorf

                                                 40545

                                                 Germany

                                      Officers Title                        Mr                                 Date Of Birth      29/07/1954

                                      Honours                                                                    Present Appointments   1

                                      Appointment Date                19/06/2008                     Function            Director

                                                                                                                        

 

 

 

                                      Name                                   Stuart James Wilkins    

                                      Address                                Two Hedges House          

                                                 Two Hedges Road

                                                 Bishops Cleeve

                                                 Cheltenham

                                                 GL52 9PT

                                      Officers Title                        Mr                                 Date Of Birth      28/02/1960

                                      Honours                                                                    Present Appointments   2

                                      Appointment Date                10/12/2003                     Function            Director

                                                                                                                        

 

 

 

                                      Name                                   David Ross Mintrim       

                                      Address                                New Crown House           

                                                 140 Main Road Wigginton

                                                 Tamworth

                                                 Staffordshire

                                                 B79 9DW

                                      Officers Title                        Mr                                 Date Of Birth      12/12/1964

                                      Honours                                                                    Present Appointments   5

                                      Appointment Date                11/01/2008                     Function            Company Secretary

                                                                                                                        

 

 

 

                                      Name                                   David Ross Mintrim       

                                      Address                                New Crown House           

                                                 140 Main Road Wigginton

                                                 Tamworth

                                                 Staffordshire

                                                 B79 9DW

                                      Officers Title                        Mr                                 Date Of Birth      12/12/1964

                                      Honours                                                                    Present Appointments   5

                                      Appointment Date                02/04/2004                     Function            Director

                                                                                                                        

 

 

 

                                      Name                                   Claude  Weber  

                                      Address                                Karlsforsterstrasse 54      

                                                 Kaarst

                                                 Germany

                                                 41564

                                      Officers Title                        Mr                                 Date Of Birth      08/04/1951

                                      Honours                                                                    Present Appointments   2

                                      Appointment Date                19/06/2008                     Function            Director

                                                                                                                        

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.34

UK Pound

1

Rs.82.96

Euro

1

Rs.65.82

 

 

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