MIRA INFORM REPORT
|
Report Date : |
14.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
SMILEY MONROE LIMITED |
|
|
|
|
Formerly Known As : |
SMILEY AND MONROE LIMITED |
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|
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Registered Office : |
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Country : |
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|
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|
Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
04.12.1986 |
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|
|
|
Com. Reg. No.: |
NI020012 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Manufacture and supply
conveyor belts with both factory vulcanised splices |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Poor |
|
Payment
Behaviour : |
Unknown |
|
Litigation : |
----- |
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) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company
summary
|
Company Name |
SMILEY MONROE LIMITED |
Company Number |
NI020012 |
|
Registered Address |
|
Trading Address |
23 |
|
|
LISBURN |
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|
BT28 2EX |
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Website Address |
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Telephone Number |
- |
Fax Number |
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TPS |
- |
FPS |
No |
|
Incorporation Date |
04/12/1986 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
SMILEY AND MONROE LIMITED |
Type |
Private limited with Share Capital |
|
|
|
Filing Date of Accounts |
05/04/2011 |
|
Date of Change |
17/09/2001 |
Share Capital |
£90,000 |
|
Sic Code |
5190 |
Currency |
GBP |
|
Sic Description |
OTHER WHOLESALE |
||
|
Principal Activity |
Manufacture and supply conveyor belts with both factory vulcanised
splices and on sale belt maintenance also rubber and polyurethane screens
media bespoke cut rubber parts for conveyor chute lining and rubber moulding.
|
||
Credit
Limit
|
Limit |
Cash Transactions Preferred |
Previous Limit |
£500 |
|
Todays Contract Limit |
No Limit |
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|
Commentary
|
No exact match CCJs are recorded against the company. |
|
|
The credit limit on this company has fallen 100% in comparison to the
previously suggested credit limit. |
|
|
The previous 12 month trading period saw a drop in Sales of 52.8%. |
|
|
In the previous 12 month trading period Net Worth decreased by 237.8%. |
|
|
A 29.8% decline in Total Assets occurred in the previous 12 month
trading period. |
|
|
Pre-tax profits increased by 0.9% in the previous 12 month trading
period. |
|
|
The company saw an increase in their Cash Balance of 162.8% in the
previous 12 month trading period. |
|
|
The audit report states that there is uncertainty concerning the
company being a 'going concern'. |
|
|
No recent changes in directorship are recorded. |
|
|
The company is part of a group. |
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|
The company has changed its registered address recently. |
|
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The company was established over 24 years ago. |
|
|
The company has recently filed accounts at Companies House |
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Last
3 Years Limit
|
Date |
Limit |
|
31/12/2010 |
£0 |
|
31/12/2009 |
£500 |
|
31/12/2008 |
£12,000 |
Key
Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
31/12/2009 |
£5,239,790 |
-£597,001 |
-£822,752 |
48 |
|
31/12/2008 |
£11,094,937 |
-£602,435 |
-£243,526 |
92 |
|
31/12/2007 |
- |
-£261,620 |
£362,214 |
102 |
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 |
5 |
|
Satisfied |
1 |
|
Total Current Directors |
2 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company
Secretaries |
4 |
Current
Directors
|
Name |
David Vaughan |
Date of Birth |
08/01/1951 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
04/12/1986 |
|
|
|
Address |
The Stables, |
||
|
|
|
|
|
|
Name |
Mary Kathleen Monroe |
Date of Birth |
11/03/1952 |
|
Officers Title |
Mrs |
Nationality |
British |
|
Present Appointments |
3 |
Function |
Director |
|
Appointment Date |
22/09/1999 |
|
|
|
Address |
The Stables, Cross Lane Maze, |
||
|
|
|
|
|
Current
Company Secretary
|
Name |
Mary Kathleen Monroe |
Date of Birth |
- |
|
Officers Title |
Mrs |
Nationality |
|
|
Present Appointments |
1 |
Function |
Company Secretary |
|
Appointment Date |
04/12/1986 |
|
|
|
Address |
The |
||
Top
20 Shareholders
|
Individual Share
Value |
|
|
SMILEY MONROE HOLDINGS LTD |
85,000 ORDINARY A GBP 1.00 |
|
JEREMY CROSS |
2,500 ORDINARY A GBP 1.00 |
|
SMILEY MONROE HOLDINGS LTD |
2,500 ORDINARY B GBP 1.00 |
Profit
& Loss
|
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 |
£5,239,790 |
-52.8% |
£11,094,937 |
- |
- |
- |
- |
- |
- |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
£3,817,779 |
- |
£7,740,215 |
- |
- |
- |
- |
- |
- |
|
Gross Profit |
£1,422,011 |
-57.6% |
£3,354,722 |
-9.6% |
£3,709,962 |
999.9% |
£336,487 |
-87.3% |
£2,652,328 |
|
Wages & Salaries |
£1,192,881 |
-55.3% |
£2,669,964 |
8.7% |
£2,456,021 |
19.1% |
£2,062,900 |
38.5% |
£1,489,440 |
|
Directors Emoluments |
£68,557 |
-49.2% |
£134,948 |
-21.9% |
£172,743 |
-10.5% |
£192,923 |
-18.5% |
£236,731 |
|
Operating Profit |
£417,677 |
185.7% |
-£487,498 |
-201.1% |
-£161,886 |
-187.9% |
£184,241 |
258.8% |
£51,351 |
|
Depreciation |
£200,864 |
-2.7% |
£206,494 |
-5.5% |
£218,520 |
67.4% |
£130,564 |
8.8% |
£120,030 |
|
Audit Fees |
£6,650 |
5.6% |
£6,300 |
- |
- |
- |
£6,000 |
20% |
£5,000 |
|
Interest Payments |
£183,671 |
55.7% |
£117,999 |
18.3% |
£99,734 |
122.8% |
£44,758 |
-68.4% |
£141,827 |
|
Pre Tax Profit |
-£597,001 |
0.9% |
-£602,435 |
-130.3% |
-£261,620 |
-448.8% |
£74,995 |
183% |
-£90,322 |
|
Taxation |
£17,775 |
999.9% |
-£1,953 |
15.3% |
-£2,307 |
88.5% |
-£19,982 |
-280.3% |
-£5,254 |
|
Profit After Tax |
-£579,226 |
4.2% |
-£604,388 |
-129% |
-£263,927 |
-579.8% |
£55,013 |
157.6% |
-£95,576 |
|
Dividends Payable |
- |
- |
- |
-100% |
£107,895 |
-25.1% |
£144,000 |
- |
- |
|
Retained Profit |
-£579,226 |
4.2% |
-£604,388 |
-62.5% |
-£371,822 |
-317.8% |
-£88,987 |
6.9% |
-£95,576 |
Balance
Sheet
|
Date Of Accounts |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
(%) |
31/12/05 |
|
Tangible Assets |
£859,887 |
-18.5% |
£1,055,612 |
32.2% |
£798,599 |
21.2% |
£659,181 |
3.1% |
£639,101 |
|
Intangible Assets |
0 |
- |
0 |
-100% |
£3,375 |
-30.8% |
£4,875 |
-23.5% |
£6,375 |
|
Total Fixed
Assets |
£859,887 |
-18.5% |
£1,055,612 |
31.6% |
£801,974 |
20.8% |
£664,056 |
2.9% |
£645,476 |
|
Stock |
£1,584,419 |
-51.1% |
£3,238,832 |
118.9% |
£1,479,809 |
48.6% |
£996,087 |
-12.8% |
£1,142,839 |
|
Trade Debtors |
£111,697 |
-90.3% |
£1,146,188 |
-39.1% |
£1,880,994 |
44.2% |
£1,304,095 |
31.7% |
£990,110 |
|
Cash |
£5,573 |
162.8% |
£2,121 |
-79.8% |
£10,484 |
-56.7% |
£24,237 |
273.6% |
£6,488 |
|
Other Debtors |
£1,929,938 |
101.9% |
£955,740 |
-4.8% |
£1,003,490 |
29% |
£777,608 |
-4.4% |
£813,216 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current
Assets |
£3,631,627 |
-32% |
£5,342,881 |
22.1% |
£4,374,777 |
41% |
£3,102,027 |
5.1% |
£2,952,653 |
|
Trade Creditors |
£725,773 |
-64.2% |
£2,025,888 |
14% |
£1,777,047 |
18.4% |
£1,501,139 |
7.1% |
£1,401,202 |
|
Bank Loans & Overdrafts |
£1,477,184 |
13.7% |
£1,298,982 |
32.6% |
£979,342 |
160.3% |
£376,267 |
-38.9% |
£615,492 |
|
Other Short Term Finance |
£2,630,015 |
-4.5% |
£2,754,146 |
86.2% |
£1,479,295 |
145.8% |
£601,791 |
438.5% |
£111,757 |
|
Miscellaneous Current Liabilities |
£201,788 |
4.1% |
£193,865 |
-42.1% |
£334,698 |
6.8% |
£313,407 |
39% |
£225,443 |
|
Total Current
Liabilities |
£5,034,760 |
-19.7% |
£6,272,881 |
37.3% |
£4,570,382 |
63.7% |
£2,792,604 |
18.6% |
£2,353,894 |
|
Bank Loans & Overdrafts and LTL |
£1,756,690 |
5.3% |
£1,668,120 |
36.3% |
£1,223,497 |
98.3% |
£617,063 |
-40.6% |
£1,038,056 |
|
Other Long Term Finance |
£185,268 |
-29.8% |
£264,095 |
91.2% |
£138,129 |
7.6% |
£128,384 |
-43.8% |
£228,563 |
|
Total Long Term Liabilities |
£279,506 |
-24.3% |
£369,138 |
51.2% |
£244,155 |
1.4% |
£240,796 |
-43% |
£422,564 |
Capital
& Reserves
|
Date Of Accounts |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
(%) |
31/12/05 |
|
Called Up Share Capital |
£90,000 |
- |
£90,000 |
- |
£90,000 |
- |
£90,000 |
- |
£90,000 |
|
P & L Account Reserve |
-£919,352 |
-170.3% |
-£340,126 |
-228.7% |
£264,262 |
-47.3% |
£501,083 |
-15.1% |
£590,071 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
£6,600 |
- |
£6,600 |
-17% |
£7,952 |
-94.4% |
£141,600 |
- |
£141,600 |
|
Shareholder Funds |
-£822,752 |
-237.8% |
-£243,526 |
-167.2% |
£362,214 |
-50.6% |
£732,683 |
-10.8% |
£821,671 |
Other
Financial Items
|
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
(%) |
31/12/05 |
|
|
Net Worth |
-£822,752 |
-237.8% |
-£243,526 |
-167.9% |
£358,839 |
-50.7% |
£727,808 |
-10.7% |
£815,296 |
|
Working Capital |
-£1,403,133 |
-50.9% |
-£930,000 |
-375.4% |
-£195,605 |
-163.2% |
£309,423 |
-48.3% |
£598,759 |
|
Total Assets |
£4,491,514 |
-29.8% |
£6,398,493 |
23.6% |
£5,176,751 |
37.5% |
£3,766,083 |
4.7% |
£3,598,129 |
|
Total Liabilities |
£5,314,266 |
-20% |
£6,642,019 |
38% |
£4,814,537 |
58.7% |
£3,033,400 |
9.3% |
£2,776,458 |
|
Net Assets |
-£822,752 |
-237.8% |
-£243,526 |
-167.2% |
£362,214 |
-50.6% |
£732,683 |
-10.8% |
£821,671 |
Cash
Flow
|
Date Of Accounts |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
(%) |
31/12/05 |
|
Net Cashflow from Operations |
- |
- |
- |
- |
-£18,528 |
-102.2% |
£850,334 |
148.7% |
£341,977 |
|
Net Cashflow before Financing |
- |
- |
- |
100% |
-£448,017 |
-171.6% |
£626,042 |
579.8% |
-£130,477 |
|
Net Cashflow from Financing |
- |
- |
- |
- |
-£168,428 |
38% |
-£271,716 |
-89.3% |
-£143,503 |
|
Increase in Cash |
- |
- |
- |
- |
-£616,445 |
-274% |
£354,326 |
999.9% |
£13,026 |
Miscellaneous
|
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
(%) |
31/12/05 |
|
|
Contingent Liability |
YES |
- |
YES |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
-£543,246 |
-532.5% |
£125,612 |
-79.3% |
£606,369 |
-37.7% |
£973,479 |
-21.8% |
£1,244,235 |
|
Number of Employees |
48 |
-47.8% |
92 |
-9.8% |
102 |
9.7% |
93 |
29.2% |
72 |
|
Auditors |
HANNA THOMPSON LIMITED |
||||||||
|
Auditor Comments |
The audit report states that there is uncertainty concerning the
company being an ongoing concern |
||||||||
|
Bankers |
NORTHERN BANK LTD |
||||||||
|
Bank Branch Code |
|
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Ratios
|
31/12/09 |
31/12/08 |
31/12/07 |
31/12/06 |
31/12/05 |
|
|
Pre-tax profit margin % |
-11.39 |
-5.43 |
- |
- |
- |
|
Current ratio |
0.72 |
0.85 |
0.96 |
1.11 |
1.25 |
|
Sales/Net Working Capital |
-3.73 |
-11.93 |
- |
- |
- |
|
Gearing % |
-213.50 |
-685 |
337.80 |
84.20 |
126.30 |
|
Equity in % |
-18.30 |
-3.80 |
7 |
19.50 |
22.90 |
|
Creditor Days |
50.41 |
66.46 |
- |
- |
- |
|
Debtor Days |
7.75 |
37.60 |
- |
- |
- |
|
Liquidity/Acid Test |
0.40 |
0.33 |
0.63 |
0.75 |
0.77 |
|
Return On Capital Employed % |
109.89 |
-479.59 |
-43.14 |
7.70 |
-7.26 |
|
Return On Total Assets Employed % |
-13.29 |
-9.41 |
-5.05 |
1.99 |
-2.51 |
|
Current Debt Ratio |
-6.11 |
-25.75 |
12.61 |
3.81 |
2.86 |
|
Total Debt Ratio |
-6.45 |
-27.27 |
13.29 |
4.14 |
3.38 |
|
Stock Turnover Ratio % |
30.23 |
29.19 |
- |
- |
- |
|
Return on Net Assets Employed % |
72.56 |
247.38 |
-72.22 |
10.24 |
-10.99 |
Status
History
|
No Status History found |
Event
History
|
Date |
Description |
|
|
16/02/2011 |
Annual Returns |
|
|
15/02/2011 |
Change in Reg.Office |
|
|
15/02/2011 |
Change of Company Postcode |
|
|
28/09/2010 |
New Accounts Filed |
|
|
28/09/2010 |
New Accounts Filed |
|
|
17/03/2010 |
Annual Returns |
|
|
17/02/2010 |
Annual Returns |
|
|
09/10/2009 |
New Company Secretary Ms M.K. Monroe appointed |
|
|
09/10/2009 |
New Board Member Ms M.K. Monroe appointed |
|
|
09/10/2009 |
New Board Member Mr D.V. Monroe appointed |
|
|
23/07/2009 |
New Accounts Filed |
|
|
23/07/2009 |
New Accounts Filed |
|
|
06/07/2009 |
Mr J.D. McCall has left the board |
|
|
26/02/2009 |
Annual Returns |
|
|
21/05/2008 |
New Accounts Filed |
|
Previous
Company Names
|
Date |
Previous Name |
Companies House Documents |
|
17/09/2001 |
SMILEY AND MONROE LIMITED |
|
|
01/01/2000 |
MOYNE SHELF COMPANY (NO. 17) LIMITED |
|
|
01/01/1950 |
MOYNE SHELF COMPANY (NO. 17) LIMITED |
|
|
01/01/1800 |
MOYNE SHELF COMPANY (NO. 17) LIMITED |
|
Group Structure Summary
|
Company Name |
SMILEY MONROE LIMITED |
Company Number |
NI020012 |
|
Holding Company |
SMILEY MONROE HOLDINGS LIMITED |
Ownership Status |
Intermediately Owned |
|
Ultimate Holding
Company |
SMILEY MONROE HOLDINGS LIMITED |
Companies in group |
3 |
Group
structure
|
Company Name |
|
Safe Number |
Registered
Number |
Latest Key
Financials |
Consol. Accounts |
Rating |
Limit |
Turnover |
|
|
|
UK07037343 |
NI042483 |
31.12.2009 |
Y |
19 |
£0 |
£6,116,587 |
|
|
|
UK07015629 |
NI020012 |
31.12.2009 |
N |
12 |
£0 |
£5,239,790 |
|
|
|
IE00344410 |
IE351985 |
31.12.2009 |
N |
93 |
€150,000 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.48 |
|
|
1 |
Rs.72.37 |
|
Euro |
1 |
Rs.64.42 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.