MIRA
INFORM REPORT
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Report Date : |
16.08.2011 |
IDENTIFICATION DETAILS
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Name : |
AQUA-GAS MANUFACTURING LTD. |
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Registered Office : |
1 Arnsley Road Weldon North Industrial Estate Corby, NN17 5QW |
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Country : |
United Kingdom |
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Financials (as on) : |
30.09.2010 |
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Date of Incorporation : |
07.04.1983 |
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Com. Reg. No.: |
01712839 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Manufacture of water valves and associated equipment. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Unknown |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United Kingdom |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
Aqua-Gas Manufacturing Ltd.
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Business
Description
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Manufacture of water valves and associated equipment. |
Industry
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Industry |
Miscellaneous Fabricated Products |
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ANZSIC 2006: |
2299 - Other Fabricated Metal Product
Manufacturing Not Elsewhere Classified |
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NACE 2002: |
2913 - Manufacture of taps and valves |
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NAICS 2002: |
33291 - Metal Valve Manufacturing |
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UK SIC 2003: |
2913 - Manufacture of taps and valves |
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US SIC 1987: |
3491 - Industrial Valves |
Key
Executives
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Financial
Summary
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1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6425498
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6345983
Corporate Overview
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Corporate Structure News
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Aqua-Gas
Manufacturing Ltd. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Aage V Kjaers Maskinfabrik As |
Parent |
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Subsidiary |
Corby |
United Kingdom |
Miscellaneous Fabricated Products |
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30 |
Executives Report
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Directors and Shareholders Report
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Main Office Address: |
Tel: 01536275910 |
Annual Return Date: 20 Feb 2011 |
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
21 May 1960 |
Aldersrovej 6 8600 Silkeborg, |
06 Dec 2005 |
NA |
Current:10 |
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Current |
05 Jul 1963 |
78 Charnwood Road, |
01 Mar 1995 |
NA |
Current:3 |
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Current |
15 Feb 1969 |
41 Maarvej, |
07 Oct 2008 |
NA |
Current:3 |
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Current |
13 Dec 1944 |
14 Kalsholtvej, |
28 Feb 1991 |
NA |
Current:6 |
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Current |
22 Sep 1959 |
The Heathers Cripton Lane, Ashover, |
01 Oct 2004 |
NA |
Current:6 |
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Previous |
NA |
Flinthojen 75, |
17 Dec 2001 |
07 Oct 2008 |
Current:0 |
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Previous |
20 Apr 1940 |
Holmwood Golf Lane, Church Brampton, |
28 Feb 1991 |
14 May 2004 |
Current:0 |
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Previous |
13 Oct 1932 |
The Coach House Stocks Hill, Manton, |
28 Feb 1991 |
17 Dec 2001 |
Current:0 |
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Previous |
11 Apr 1949 |
Bogevangen 63, Solbjerg, |
28 Feb 1991 |
06 Dec 2005 |
Current:0 |
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Previous |
20 Mar 1959 |
Anton Jakobsensvej 8, |
NA |
11 Feb 1993 |
Current:0 |
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Corporate Directors |
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There are no corporate directors for this company. |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
24 Jan 1951 |
4 Rochester Close, Barton Seagrave, |
18 Apr 1994 |
NA |
Current:4 |
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Previous |
13 Oct 1932 |
The Coach House Stocks Hill, Manton, |
28 Feb 1991 |
18 Apr 1994 |
Current:0 |
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Corporate Secretaries |
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There are no corporate secretaries for this company. |
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Individual Shareholders |
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Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
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Aage V Kjaers Maskinfabrik As |
176000 Ordinary GBP 1.00 |
Ordinary |
176,000 |
1.00 |
176,000.00 |
100.00 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
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Financials in: USD (mil) |
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Except for share items (millions) and per
share items (actual units) |
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30-Sep-2010 |
30-Sep-2009 |
30-Sep-2008 |
30-Sep-2007 |
30-Sep-2006 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate
(Period Average) |
0.64255 |
0.647882 |
0.507879 |
0.508116 |
0.555972 |
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Consolidated |
No |
No |
No |
No |
No |
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Gross Profit |
- |
1.8 |
4.4 |
4.2 |
3.7 |
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Depreciation |
0.3 |
0.3 |
0.3 |
0.4 |
0.3 |
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Other Expenses |
- |
2.2 |
2.9 |
2.7 |
2.5 |
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Operating Profit |
- |
-0.4 |
1.5 |
- |
1.2 |
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Other Income |
- |
0.0 |
0.0 |
0.0 |
0.1 |
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Interest Paid |
- |
0.1 |
0.1 |
0.1 |
0.1 |
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Exceptional Income |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Discontinued Operations |
- |
0.0 |
0.0 |
0.0 |
- |
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Profit Before Taxes |
- |
-0.5 |
1.4 |
1.4 |
1.2 |
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Tax Payable / Credit |
- |
0.1 |
0.4 |
0.4 |
0.4 |
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Extraordinary Items/Debits |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Dividends |
- |
1.1 |
0.8 |
1.2 |
3.6 |
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Profit After Taxes |
- |
-1.6 |
0.2 |
-0.2 |
-2.8 |
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Minority Interests (Profit & Loss) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Audit Fees |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Number of Employees |
- |
36 |
47 |
50 |
54 |
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Wages |
- |
1.1 |
1.9 |
1.9 |
1.8 |
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Social Security Costs |
- |
0.1 |
0.2 |
0.2 |
0.2 |
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Pensions |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Pension Costs |
- |
0.0 |
0.1 |
0.1 |
0.1 |
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Employees Remuneration |
- |
1.3 |
2.2 |
2.2 |
2.0 |
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Directors Emoluments |
- |
0.1 |
0.2 |
0.2 |
0.2 |
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Other Costs |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Directors Remuneration |
- |
0.2 |
0.2 |
0.2 |
0.2 |
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Highest Paid Director |
- |
- |
- |
0.0 |
- |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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30-Sep-2010 |
30-Sep-2009 |
30-Sep-2008 |
30-Sep-2007 |
30-Sep-2006 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate |
0.634598 |
0.625254 |
0.561026 |
0.490834 |
0.535346 |
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Consolidated |
No |
No |
No |
No |
No |
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Land & Buildings |
- |
1.1 |
1.3 |
1.6 |
1.6 |
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Fixtures & Fittings |
- |
0.0 |
0.0 |
0.0 |
0.1 |
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Plant & Vehicles |
- |
1.1 |
1.2 |
0.5 |
0.6 |
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Total Tangible Fixed Assets |
2.0 |
2.2 |
2.5 |
2.1 |
2.3 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
2.0 |
2.2 |
2.5 |
2.1 |
2.3 |
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Stocks |
- |
1.4 |
1.4 |
2.2 |
1.8 |
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Work in Progress |
- |
0.1 |
0.2 |
0.3 |
0.1 |
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Total Stocks Work In Progress |
1.7 |
1.5 |
1.7 |
2.5 |
1.9 |
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Trade Debtors |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Inter-Company Debtors |
- |
1.7 |
2.2 |
2.8 |
2.5 |
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Director Loans |
- |
- |
0.0 |
- |
- |
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Other Debtors |
- |
0.2 |
0.1 |
0.1 |
0.2 |
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Total Debtors |
1.7 |
1.9 |
2.2 |
2.9 |
2.7 |
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Cash and Equivalents |
0.0 |
0.0 |
0.5 |
0.1 |
0.7 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
3.4 |
3.4 |
4.4 |
5.5 |
5.3 |
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Total Assets |
5.4 |
5.6 |
7.0 |
7.6 |
7.6 |
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Trade Creditors |
- |
0.5 |
0.9 |
1.0 |
1.1 |
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Bank Overdraft |
2.7 |
3.0 |
0.0 |
1.9 |
1.7 |
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Inter-Company Creditors |
- |
0.2 |
0.2 |
0.1 |
0.2 |
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Accruals/Deferred Income (Current Liability) |
- |
0.1 |
0.1 |
0.1 |
0.2 |
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Social Security/VAT |
- |
0.2 |
0.3 |
0.3 |
0.3 |
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Corporation Tax |
- |
0.0 |
0.4 |
0.5 |
0.4 |
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Other Current Liabilities |
1.3 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Liabilities |
4.0 |
3.9 |
1.9 |
3.9 |
3.9 |
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Group Loans (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Director Loans (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Hire Purchase (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Leasing (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Hire Purchase Loans (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Loans |
- |
0.0 |
1.7 |
0.0 |
0.0 |
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Accruals/Deferred Income (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Long Term Liabilities |
0.0 |
0.0 |
1.7 |
0.0 |
0.0 |
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Deferred Taxation |
0.1 |
0.1 |
0.0 |
0.0 |
0.1 |
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Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Provisions |
0.1 |
0.1 |
0.0 |
0.0 |
0.1 |
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Issued Capital |
0.3 |
0.3 |
0.3 |
0.4 |
0.3 |
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Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Revaluation Reserve |
0.5 |
0.5 |
0.6 |
0.7 |
0.7 |
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Retained Earnings |
0.5 |
0.7 |
2.5 |
2.5 |
2.5 |
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Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Shareholders Funds |
1.3 |
1.5 |
3.4 |
3.6 |
3.5 |
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Net Worth |
1.3 |
1.5 |
3.4 |
3.6 |
3.5 |
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Annual Cash
Flows |
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Financials in:
USD (mil) |
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|
30-Sep-2010 |
30-Sep-2009 |
30-Sep-2008 |
30-Sep-2007 |
30-Sep-2006 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.64255 |
0.647882 |
0.507879 |
0.508116 |
0.555972 |
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Consolidated |
No |
No |
No |
No |
No |
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Annual Ratios |
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Financials in:
USD (mil) |
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|
30-Sep-2010 |
30-Sep-2009 |
30-Sep-2008 |
30-Sep-2007 |
30-Sep-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.634598 |
0.625254 |
0.561026 |
0.490834 |
0.535346 |
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Consolidated |
No |
No |
No |
No |
No |
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Current Ratio |
0.84 |
0.85 |
2.36 |
1.40 |
1.35 |
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Liquidity Ratio |
0.42 |
0.48 |
1.48 |
0.77 |
0.86 |
|
Trade Credit by Debtors |
- |
493.22 |
673.52 |
225.75 |
168.81 |
|
Return on Capital |
- |
-29.93% |
25.65% |
38.88% |
33.83% |
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Return on Assets |
- |
-8.72% |
18.73% |
18.73% |
16.32% |
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Return on Shareholders Funds |
- |
-31.58% |
38.59% |
39.40% |
34.99% |
|
Borrowing Ratio |
215.16% |
203.18% |
54.37% |
55.63% |
54.68% |
|
Equity Gearing |
23.60% |
27.60% |
48.53% |
47.54% |
46.63% |
|
Debt Gearing |
- |
- |
49.00% |
- |
- |
|
Interest Coverage |
- |
-7.45 |
11.69 |
11.91 |
10.72 |
|
Average Remuneration per Employee |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit per Employee |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Capital Employed per Employee |
- |
0.0 |
0.1 |
0.1 |
0.1 |
|
Tangible Assets per Employee |
- |
0.1 |
0.1 |
0.0 |
0.0 |
|
Total Assets per Employee |
- |
0.2 |
0.1 |
0.2 |
0.1 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
|
|
1 |
Rs.73.53 |
|
Euro |
1 |
Rs.64.36 |
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 |
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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.