MIRA INFORM REPORT

 

 

Report Date :

02.04.2011

 

IDENTIFICATION DETAILS

 

Name :

J.L. PRIESTLEY & CO. LIMITED

 

 

Registered Office :

Station Road Heckington Sleaford Ng34 9nf

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

03.07.1974

 

 

Com. Reg. No.:

01176188

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Processing & preserving of fruit & vegetables

 

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 :

£25,000

Status :

Good

Payment Behaviour :

No Complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – December 31, 2010

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Summary

 

Top of Form

Company Name

J.L. PRIESTLEY & CO. LIMITED

Company Number

01176188

Registered Address

STATION ROAD

Trading Address

Station Road
Heckington
Sleaford
NG34 9NF

 

HECKINGTON

 

 

SLEAFORD

 

 

NG34 9NF

 

 

 

 

 

Website Address

http://www.jlpfoodgroup.co.uk

 

 

Telephone Number

01529460751

Fax Number

 

TPS

No

FPS

No

Incorporation Date

03/07/1974

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private limited with Share Capital

 

 

Filing Date of Accounts

01/09/2010

Date of Change

-

Share Capital

£10,102

Sic Code

1533

Currency

GBP

Sic Description

PROCESSING & PRESERVING OF FRUIT & VEGETABLES

Principal Activity

Packing and distribution of dehydrated and fresh foods.

Accounts Due Date 30/09/2011

 

Credit Rating & Limit

 

Limit

£25,000

 

Contract Limit

£1,750,000

 

 

 

Key Financials

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/12/2009

£7,812,678

£212,210

£166,135

21

31/12/2008

£7,278,358

£377,451

£281,425

25

31/12/2007

-

£329,233

£224,677

26

 

CCJ

 

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

 

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

 

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

 

Total Number of Writs -

0

 

 

Exact CCJ Details

There are no exact CCJ details

Possible CCJ Details

There are no possible CCJ details

Writ Details

There are no writ details

 

Mortgage Summary

 

 

Outstanding

1

 

Satisfied

7

 

 

 

 

 

 

Total Current Directors

3

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

4

 

Current Directors

 

Name

John Langstaff Priestley

Date of Birth

08/05/1946

Officers Title

Mr

Nationality

British

Present Appointments

19

Function

Director

Appointment Date

31/12/1990

 

 

Address

Millfield House Sleaford Road,  Heckington,  Sleaford,  NG34 9QW

 

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Raymond Bentley

Date of Birth

09/03/1957

Officers Title

Mr

Nationality

British

Present Appointments

3

Function

Director

Appointment Date

01/12/2006

 

 

Address

19 Wellington Close,  Heckington,  Sleaford,  NG34 9GZ

 

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Roger John Messenger

Date of Birth

30/11/1974

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

01/12/2006

 

 

Address

4 Limetree Walk,  Heckington,  Sleaford,  NG34 9TF

 

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

 

Name

Ray Bentley

Date of Birth

-

Officers Title

 

Nationality

British

Present Appointments

2

Function

Company Secretary

Appointment Date

30/03/2006

 

 

Address

19 Wellington Close,  Heckington,  Sleaford,  NG34 9GZ

 

Other Actions

 

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 



Top 20 Shareholders

 

 

Name

Individual Share Value

 

 

JLP FOOD GROUP HOLDINGS LTD

10,102 ORDINARY GBP 1.00

 

 

 

 

 

 

 

Profit & Loss

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

£7,812,678

7.3%

£7,278,358

-

-

-

£7,224,067

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

£6,461,308

-

£5,701,830

-

-

-

£5,642,720

-

-

Gross Profit

£1,351,370

-14.3%

£1,576,528

4.9%

£1,503,082

-4.9%

£1,581,347

7.6%

£1,469,378

Wages & Salaries

£679,804

-8.8%

£745,391

12.6%

£661,950

-10%

£735,120

-10.6%

£822,317

Directors Emoluments

£86,936

-22.7%

£112,433

1.9%

£110,318

999.9%

£5,990

591.7%

£866

Operating Profit

£251,978

-46.3%

£468,826

14.9%

£407,902

-24.7%

£541,806

66.2%

£325,941

Depreciation

£51,088

-9.6%

£56,539

10.3%

£51,256

9%

£47,029

-50%

£94,087

Audit Fees

£6,000

-12.7%

£6,875

33.5%

£5,150

-1.9%

£5,250

-14.1%

£6,110

Interest Payments

£39,768

-56.5%

£91,375

16.2%

£78,669

10%

£71,538

15%

£62,199

Pre Tax Profit

£212,210

-43.8%

£377,451

14.6%

£329,233

-30%

£470,268

77.3%

£265,240

Taxation

-£56,261

47.8%

-£107,703

6.8%

-£115,623

18.7%

-£142,173

-73.5%

-£81,943

Profit After Tax

£155,949

-42.2%

£269,748

26.3%

£213,610

-34.9%

£328,095

79%

£183,297

Dividends Payable

£271,239

27.3%

£213,000

-35.5%

£330,000

-

-

-

-

Retained Profit

-£115,290

-303.2%

£56,748

148.8%

-£116,390

-135.5%

£328,095

79%

£183,297

 

Balance Sheet

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Tangible Assets

£145,300

-10%

£161,363

-9.4%

£178,035

12.5%

£158,238

-7.6%

£171,250

Intangible Assets

0

-

0

-100%

£752

-50%

£1,504

-33.3%

£2,256

Total Fixed Assets

£145,300

-10%

£161,363

-9.7%

£178,787

11.9%

£159,742

-7.9%

£173,506

Stock

£1,903,382

-20.9%

£2,404,833

24.1%

£1,938,040

25.7%

£1,541,882

-16.6%

£1,849,480

Trade Debtors

£1,565,178

7.2%

£1,459,403

37.9%

£1,058,467

-18.3%

£1,296,062

6.4%

£1,218,465

Cash

£143,541

32.4%

£108,404

-37.9%

£174,469

-13.4%

£201,487

999.9%

£394

Other Debtors

£162,817

-3.3%

£168,291

53.1%

£109,922

-72.9%

£406,259

339.2%

£92,510

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£3,774,918

-8.8%

£4,140,931

26.2%

£3,280,898

-4.8%

£3,445,690

9%

£3,160,849

Trade Creditors

£965,438

53.3%

£629,923

29.3%

£487,293

-18.8%

£600,360

37.1%

£438,021

Bank Loans & Overdrafts

£2,579,333

-15.3%

£3,047,012

18.3%

£2,576,519

6.9%

£2,409,378

3.5%

£2,327,843

Other Short Term Finance

£76,956

-56.7%

£177,898

209%

£57,567

28.9%

£44,669

-89.3%

£417,547

Miscellaneous Current Liabilities

£108,470

-28.6%

£151,854

38.3%

£109,825

-47.6%

£209,756

52%

£137,972

Total Current Liabilities

£3,730,197

-6.9%

£4,006,687

24%

£3,231,204

-1%

£3,264,163

-1.7%

£3,321,383

Bank Loans & Overdrafts and LTL

£2,603,219

-15%

£3,061,194

18.6%

£2,580,323

7.1%

£2,409,580

3.5%

£2,327,843

Other Long Term Finance

£23,886

70%

£14,051

-

0

-

0

-

0

Total Long Term Liabilities

£23,886

68.4%

£14,182

272.8%

£3,804

999.9%

£202

-

0

 

Capital & Reserves

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Called Up Share Capital

£10,102

-

£10,102

-

£10,102

-

£10,102

-

£10,102

P & L Account Reserve

£156,033

-42.5%

£271,323

26.4%

£214,575

-35.2%

£330,965

999.9%

£2,870

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£166,135

-41%

£281,425

25.3%

£224,677

-34.1%

£341,067

999.9%

£12,972

 

Other Financial Items

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Net Worth

£166,135

-41%

£281,425

25.7%

£223,925

-34.1%

£339,563

999.9%

£10,716

Working Capital

£44,721

-66.7%

£134,244

170.1%

£49,694

-72.6%

£181,527

213.1%

-£160,534

Total Assets

£3,920,218

-8.9%

£4,302,294

24.4%

£3,459,685

-4%

£3,605,432

8.1%

£3,334,355

Total Liabilities

£3,754,083

-6.6%

£4,020,869

24.3%

£3,235,008

-0.9%

£3,264,365

-1.7%

£3,321,383

Net Assets

£166,135

-41%

£281,425

25.3%

£224,677

-34.1%

£341,067

999.9%

£12,972

 

Cash Flow

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

Miscellaneous

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Contingent Liability

YES

-

YES

-

YES

-

YES

-

YES

Capital Employed

£190,021

-35.7%

£295,607

29.4%

£228,481

-33%

£341,269

999.9%

£12,972

Number of Employees

21

-16%

25

-3.8%

26

-10.3%

29

-3.3%

30

Auditors

STREETS AUDIT LLP

Auditor Comments

The audit report contains no adverse comments

Bankers

NATIONAL WESTMINSTER BANK PLC

Bank Branch Code

55-50-11

 

Ratios

 

 

Date Of Accounts

31/12/09

31/12/08

31/12/07

31/12/06

31/12/05

 

Pre-tax profit margin %

2.72

5.19

-

6.51

-

 

Current ratio

1.01

1.03

1.02

1.06

0.95

 

Sales/Net Working Capital

174.70

54.22

-

39.80

-

 

Gearing %

1566.90

1087.70

1148.50

706.50

17945.10

 

Equity in %

4.20

6.50

6.50

9.50

0.40

 

Creditor Days

44.98

31.50

-

30.25

-

 

Debtor Days

72.92

72.98

-

65.30

-

 

Liquidity/Acid Test

0.50

0.43

0.42

0.58

0.39

 

Return On Capital Employed %

111.67

127.68

144.10

137.80

2044.71

 

Return On Total Assets Employed %

5.41

8.77

9.51

13.04

7.95

 

Current Debt Ratio

22.45

14.23

14.38

9.57

256.04

 

Total Debt Ratio

22.59

14.28

14.39

9.57

256.04

 

Stock Turnover Ratio %

24.36

33.04

-

21.34

-

 

Return on Net Assets Employed %

127.73

134.12

146.54

137.88

2044.71

 

 

 

 

 

 

Status History

 

No Status History found



Event History

 

Date

Description

 

18/01/2011

Annual Returns

 

11/09/2010

New Accounts Filed

 

11/09/2010

New Accounts Filed

 

08/01/2010

Annual Returns

 

18/01/2009

Annual Returns

 

26/10/2008

New Accounts Filed

 

14/01/2008

Annual Returns

 

20/09/2007

New Accounts Filed

 

05/01/2007

New Board Member (RAYMOND BENTLEY) appointed

 

24/10/2006

New Accounts Filed

 

27/04/2006

New Company Secretary (RAY BENTLEY) appointed

 

27/04/2006

ROY JOHNLEE has resigned as company secretary

 

27/04/2006

ROY JOHNLEE has left the board

 

15/11/2005

New Accounts Filed

 

 

Limit History

 

Date

Limit

08/01/2010

£25,000

26/08/2009

£17,000

05/03/2009

£13,000

20/09/2007

£20,000

24/10/2006

£1,000

06/05/2006

£7,500

08/11/2005

£12,000

 

Previous Company Names

 

No Previous Names found

 

Group Structure Summary

 

Company Name

J.L. PRIESTLEY & CO. LIMITED

Company Number

01176188

Holding Company

JLP FOOD GROUP HOLDINGS LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

MELBOURNE HOLDINGS LIMITED

Companies in group

8

 

Group structure

 

Company Name

 

Safe Number

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

MELBOURNE HOLDINGS LIMITED

 

UK01106409

01437478

31.12.2009

Y

£23,542,229

JLP FOOD GROUP HOLDINGS LIMITED

 

UK03246448

03589909

31.12.2009

N

£0

M H IMPORTS(FOOD) LTD

 

UK03260276

03603825

31.12.2009

N

-

J.L. PRIESTLEY & CO. LIMITED

 

UK00847102

01176188

31.12.2009

N

£7,812,678

QUICK DRY FOODS LTD

 

UK02566415

02906236

31.12.2009

N

-

PAXTON INVESTMENTS LIMITED

 

UK05429599

05785597

31.12.2009

N

-

SMITH CONSTRUCTION (HECKINGTON...

 

UK02344809

02683844

31.12.2009

N

£11,287,305

THE ROASTING COMPANY LIMITED

 

UK05279540

05635309

31.12.2009

N

-



Bottom of Form

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.65

UK Pound

1

Rs.71.93

Euro

1

Rs.63.24

 

 

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

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

--

NB

                                       New Business

 

--

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.