MIRA INFORM REPORT

 

 

 

Report Date :

17.09.2008

 

IDENTIFICATION DETAILS

 

Name :

ALL METAL RECOVERY LIMITED                 

 

 

Formerly Known as :

WIDEMOOR LIMITED

 

 

Registered Office :

C/O John Pye & Co, Emmanuel, Court, Reddicroft,  Sutton Coldfield,  West Midlands B73 6AZ

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.01.2007

 

 

Date of Incorporation :

16.11.1989

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Wholesale of Waste and Scrap

 

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 :

[£] 75,000

 

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

Name of the company

 

ALL METAL RECOVERY LIMITED                 

Number      02443460                                     

 

 

company summary

 

Address                        C/O JOHN PYE & CO, EMMANUEL,
COURT, REDDICROFT,
SUTTON COLDFIELD,
WEST MIDLANDS B73 6AZ

Company Status            Active - Accounts Filed

Postcode                      B73 6AZ

Phone

Type                             Private limited with Share Capital

Incorporated Date           16/11/1989

 

Very Good Credit Worthiness

Todays Limit [£]            75,000

 

 

 

Active CCJ's                  0

Value of CCJ's [£]          £0

Number Of Writs            0

 

Current Directors            2

Total Directorships         8

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

Turnover                        -                       -                       -

Shareholder Funds         £1,768,560        £1,248,241        £1,098,295

Employees                    29                     30                     -

 

Trends

 Profitability

Liquidity

Shareholders Funds

 

 

company information

 

Registered Address

Telephone Number

TPS

Address

 C/O JOHN PYE & CO, EMMANUEL
COURT, REDDICROFT
SUTTON COLDFIELD
WEST MIDLANDS B73 6AZ

 

Trading Address

Telephone Number

TPS

Address

c/o John Pye & Co, Emmanuel
Court, Reddicroft
Sutton Coldfield
B73 6AZ

 

Web Address                allmetalrecovery.com

Incorporation Date          16/11/1989

Type of Accounts           Medium Company

Filing Date of Accounts  09/08/2007

Company Type              Private Limited With Share Capital

Date of Latest Accounts 31/01/2007

Annual Return                16/11/2007

 

Previous Name(s)

 Changed:

06/12/1989

Widemoor Limited

 

Industry:

 Scrap Metal Merchants And Hauliers.

 

 

SIC Code                     Description

 5157                            Wholesale Of Waste & Scrap

 

Mortgage Charges

Outstanding       2          Satisfied            0

 

Shareholders

Share Capital                 1000                 Currency           Gbp

 

 

Previous Names Details

 

 

Previous Name(s)

Changed :                     06/12/1989        Widemoor Limited

 

 

 

Secondary Industry Code Details

 

 

SIC Code                                 Description

5157                                         Wholesale Of Waste & Scrap

 

 

Mortgage Details

 

 

Mortgage Type:                          all assets debenture

Date Charge Created:                 25/09/2007

Date Charge Registered: 03/10/2007

Status:                                      Outstanding

Person(s) Entitled:                     LLOYDS TSB COMMERCIAL FINANCE LIMITED

Amount Secured:                       all monies due or to become due from the company to the chargee under the terms of the aforementioned instrument creating or evidencing the charge

Details:                                     01fixed 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.

 

 

 

 Mortgage Type:             single debenture

Date Charge Created:                 05/06/1995

Date Charge Registered: 09/06/1995

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 fixtures fixed plant and machinery.

 

 

 

 

Shareholders Details

 

 

Name                                                   Shares

S W Dunn                                             1,000 Ordinary Gbp 1.00

 

 

Trading Address Details

 

Address

Telephone Number

TCPS

 c/o John Pye & Co, Emmanuel Court, Reddicroft Sutton Coldfield B73 6AZ

 

 

accounts

 

PROFIT & LOSS

 

 

Annual Accounts

02/06-01/07

Change (%)

02/05-01/06

Change (%)

02/04-01/05

 

Months

12

-

12

-

12

 

Currency

GBP

-

GBP

-

GBP

 

Consolidated A/cs

N

-

N

-

N

 

Turnover

-

-

-

-

-

 

Export

-

-

-

-

-

 

Cost of Sales

-

-

-

-

-

 

Gross Profit

1,638,971

32.5 %

1,237,293

-

-

 

Wages & Salaries

831,334

1.3 %

820,928

-

-

 

Directors Emoluments

84,000

-

84,000

-

-

 

Operating Profits

829,575

49.0 %

556,589

-

-

 

Depreciation

336,024

23.0 %

273,097

-

-

 

Audit Fees

10,000

-

10,000

-

-

 

Interest Payments

29,537

-42.5 %

51,341

-

-

 

Pre Tax Profit

761,706

50.5 %

506,109

-

-

 

Taxation

-181,386

-41.5 %

-128,163

-

-

 

Profit After Tax

580,320

53.5 %

377,946

-

-

 

Dividends Payable

60,000

-

-

-

-

 

Retained Profits

520,320

37.7 %

377,946

-

-

 

 

BALANCE SHEET

 

 

Annual Accounts

02/06-01/07

Change (%)

02/05-01/06

Change (%)

02/04-01/05

 

Tangible Assets

1,809,402

33.8 %

1,352,590

10.5 %

1,224,091

 

Intangible Assets

-

-

-

-

-

 

Total Fix Assets

1,809,402

33.8 %

1,352,590

10.5 %

1,224,091

 

Total Current Assets

4,112,269

72.2 %

2,388,307

0.8 %

2,370,373

 

Trade Debtors

2,145,202

139.9 %

894,161

-

-

 

Stock

1,125,426

-18.9 %

1,387,224

45.7 %

952,075

 

Cash

406,746

999.9%

6,005

-97.3 %

222,695

 

Other Current Assets

434,895

330.9 %

100,917

-91.6 %

1,195,603

 

Increase In Cash

400,741

284.9 %

-216,690

-201.2 %

214,205

 

Miscellaneous Current Assets

-

-

-

-

-

 

Total Assets

5,921,671

58.3 %

3,740,897

4.1 %

3,594,464

 

Total Current Liabilities

3,824,434

73.1 %

2,208,957

2.5 %

2,155,013

 

Trade Creditors

1,882,060

61.1 %

1,168,222

-

-

 

Bank Overdraft

1,169,829

93.6 %

604,263

-

-

 

Other Short Term Fin

393,256

85.4 %

212,119

-

-

 

Miscellaneous Current Liabilities

379,289

69.1 %

224,353

-89.6 %

2,155,013

 

Other Long Term Fin

156,933

-1.5 %

159,260

-

-

 

Total Long Term Liabilities

328,677

15.9 %

283,699

-16.8 %

341,156

 

Bank Overdraft & LTL

1,498,506

68.8 %

887,962

160.3 %

341,156

 

Total Liabilities

4,153,111

66.6 %

2,492,656

-0.1 %

2,496,169

 

Net Assets

1,768,560

41.7 %

1,248,241

13.7 %

1,098,295

 

Working Capital

287,835

60.5 %

179,350

-16.7 %

215,360

 

 

CAPITALS & RESERVES

 

 

Annual Accounts

02/06-01/07

Change (%)

02/05-01/06

Change (%)

02/04-01/05

 

Paid up equity

1,000

-

1,000

-

1,000

 

P&L Account Reserve

1,767,560

41.7 %

1,247,241

13.7 %

1,097,295

 

Sundry Reserves

-

-

-

-

-

 

Revaluation Reserve

-

-

-

-

-

 

Shareholder Funds

1,768,560

41.7 %

1,248,241

13.7 %

1,098,295

 

Net Worth

1,768,560

41.7 %

1,248,241

13.7 %

1,098,295

 

 

 

MISCELLANEOUS

 

 

Annual Accounts

02/06-01/07

Change (%)

02/05-01/06

Change (%)

02/04-01/05

 

Net Cashflow from Operations

803,983

637.2 %

109,056

-

-

 

Net Cashflow before Financing

-165,344

-123.0 %

717,763

-

-

 

Net Cashflow from Financing

519

100.5 %

-103,190

-

-

 

Contingent Liability

NO

-

NO

-

NO

 

Capital Employed

2,097,237

36.9 %

1,531,940

6.4 %

1,439,451

 

No of Employees

29

-3.3 %

30

-

-

     

Auditors

JOHN PYE & CO

 

AuditQualification

No Adverse Comments

 

Bankers

LLOYDS TSB BANK PLC

 

BankBranchCode

30-13-66

 

RATIOS

 

 

Annual Accounts

02/06-01/07

02/05-01/06

02/04-01/05

 

Pre-tax profit margin %

-

-

-

 

Current ratio

1.08

1.08

1.10

 

Sales/Net Working Capital

-

0.00

0.00

 

Gearing %

84.7 %

71.1 %

31.1 %

 

Equity in %

29.9 %

33.4 %

30.6 %

 

Creditor Days

-

-

-

 

Debtor Days

-

-

-

 

Liquidity/Acid Test

0.78

0.45

0.66

 

Return On Capital Employed %

36.3 %

33.0 %

0.0 %

 

Return On Total Assets Employed %

12.9 %

13.5 %

0.0 %

 

Current Debt Ratio %

2.2 %

1.8 %

2.0 %

 

Total Debt Ratio %

2.3 %

2.0 %

2.3 %

 

Stock Turnover Ratio %

-

-

-

 

Return on Net Assets Employed %

43.1 %

40.6 %

0.0 %

 

 

Very Good Credit Worthiness           

Todays Limit [£]                                75,000    

 

 

 

 

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

23/11/2006                                                            Very Good Credit Worthiness

07/10/2005                                                            Good Credit Worthiness

05/07/2004                                                            Good Credit Worthiness

01/07/2004                                                            Good Credit Worthiness

17/06/2004                                                            Credit Worthy

 

 

group structure

 

No group structure for this company.

 

 

 

Status History

 

 

Date                                  Description

No Status History

 

 

 

 

Event History

 

 

Date                                Description

29/11/2007                       Annual Returns

22/08/2007                       New Accounts Filed

23/11/2006                       New Accounts Filed

24/11/2005                       New Accounts Filed

29/04/2005                       Change In Reg.office

29/04/2005                       Change Of Company Postcode

06/12/2004                       Annual Returns

07/08/2004                       New Accounts Filed

05/07/2004                       New Accounts Filed

01/07/2004                       Annual Returns

17/06/2004                       Data Refresh

16/02/2004                       Contact Tlf,fax

 

 

 

directors

 

 

                                      Name                                   Kevin  Pearson  

                                      Address                                4 Hoylake Road   

                                                 Perton

                                                 Wolverhampton

                                                 West Midlands

                                                 WV6 7YS

                                      Officers Title                        Mr                                 Date Of Birth      07/09/1959

                                      Honours                                                                    Present Appointments   1

                                      Appointment Date                01/11/2000                     Function                 Company Secretary

                                                                                                                        

 

 

 

                                      Name                                   Stephen Wayne Dunn   

                                      Address                                114 Kenilworth Road        

                                                 Knowle

                                                 Solihull

                                                 West Midlands

                                                 B93 0JD

                                      Officers Title                        Mr                                 Date Of Birth      04/04/1960

                                      Honours                                                                    Present Appointments   7

                                      Appointment Date                16/11/1991                     Function            Director

                                                                                                                        

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.71

UK Pound

1

Rs.83.57

Euro

1

Rs.65.90

 

 

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