MIRA INFORM REPORT

 

 

Report Date :           

23.08.2011

 

IDENTIFICATION DETAILS

 

Name :

MW ENCAP LTD.

 

 

Registered Office :

Old Station Works Station Road, Shepreth, Royston, SG8 6PZ

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

30.04.2010

 

 

Date of Incorporation :

06.01.1994

 

 

Com. Reg. No.:

02886521

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Encapsulation of pharmaceutical and health supplements

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct 

 

 

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

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

United Kingdom 

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address   Bottom of Form

 

 

Mw Encap Ltd.

Units 4, 5 & 6, Oakbank Park Way

Livingston, EH53 0TH

United Kingdom

Tel:       01506448080

Fax:      01506448081

Web:    www.encapdrugdelivery.com

           

 

Synthesis

 

Employees:                  NA

Company Type:            Private Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:             Mw Encap (Holdings) Ltd.

Quoted Status:             Non-quoted Company

Incorporation Date:         06-Jan-1994

Auditor:                        Barrie Scott Ltd

Financials in:                 USD (Millions)

Fiscal Year End:            30-Apr-2010

Reporting Currency:       British Pound Sterling

Annual Sales:               NA

Total Assets:                6.8

 

 

Business Description     

 

Encapsulation of pharmaceutical and health supplements.

 

Industry

Industry            Biotechnology and Drugs

ANZSIC 2006:    1841 - Human Pharmaceutical and Medicinal Product Manufacturing

NACE 2002:      2441 - Manufacture of basic pharmaceutical products

NAICS 2002:     32541 - Pharmaceutical and Medicine Manufacturing

UK SIC 2003:    2441 - Manufacture of basic pharmaceutical products

US SIC 1987:    2833 - Medicinal Chemicals and Botanical Products

 

           


Key Executives   

 

Name

Title

Robbie Stewart

Sales Director

David Mcnab

Secretary

Jane McCulloch

Human Resource Manager

Massoud Bakhshaee

Director

Tracy Barnett

Director

 

FYE: 30-Apr-2010

USD (mil)

Key Figures

 

Current Assets

2.97

Fixed Assets

3.82

Total Liabilities

2.37

Net Worth

3.25

 

Key Ratios

 

Current Ratio

1.25

Acid Test

1.07

 

 

Registered No.(UK): 02886521

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6254912

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6533172

 

 

Corporate Overview

 

Location

Units 4, 5 & 6, Oakbank Park Way

Livingston, EH53 0TH

West Lothian County

United Kingdom

Tel:       01506448080

Fax:      01506448081

Web:    www.encapdrugdelivery.com

           

Sales GBP(mil):             NA

Assets GBP(mil):           4.4

Employees:                   NA

Fiscal Year End:            30-Apr-2010

Industry:                        Biotechnology and Drugs

           

Registered Address:

Old Station Works Station Road

Shepreth

Royston, SG8 6PZ

United Kingdom

 

 

Incorporation Date:         06-Jan-1994

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(UK):       02886521

Director:                        Massoud Bakhshaee

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1841     -          Human Pharmaceutical and Medicinal Product Manufacturing

 

NACE 2002 Codes:

2441     -          Manufacture of basic pharmaceutical products

 

NAICS 2002 Codes:

32541   -          Pharmaceutical and Medicine Manufacturing

 

US SIC 1987:

2833     -          Medicinal Chemicals and Botanical Products

 

UK SIC 2003:

2441     -          Manufacture of basic pharmaceutical products

 

Business Description

Encapsulation of pharmaceutical and health supplements.

 

 

Financial Data

Financials in:

GBP(mil)

 

Assets:

4.4

Current Assets:

1.9

 

Fixed Assets:

2.5

 

Long Term Debt:

0.5

 

Total Liabilities:

2.1

 

Issued Capital:

0.3

 

Working Capital:

0.4

 

Net Worth:

2.1

 

 

 

Date of Financial Data:

30-Apr-2010

 

1 Year Growth

NA

 

Key Corporate Relationships

Auditor:

Barrie Scott Ltd

 

Auditor:

Barrie Scott Ltd

 

Auditor History

Barrie Scott Ltd

30-Apr-2010

Barrie Scott Ltd

30-Apr-2009

Barrie Scott Ltd

30-Apr-2008

Barrie Scott Ltd

30-Apr-2007

Barrie Scott And Co

30-Apr-2006

 

 

 

GBP(mil)

Audit Fees:

0.0

Non Audit Fees:

0.0

Audit Fiscal Year:

04-30-2010

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Mw Encap (Holdings) Ltd.
Mw Encap Ltd.

Total Corporate Family Members: 2 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Mw Encap (Holdings) Ltd.

Parent

Royston

United Kingdom

Nonclassifiable Industries

 

 

 

Mw Encap Ltd.

Subsidiary

Livingston

United Kingdom

Biotechnology and Drugs

 

 

 

 

 

EXECUTIVE REPORT

 

Board of Directors

 

Name

Title

Function

 

Massoud Bakhshaee

 

Director

Director/Board Member

 

Tracy Barnett

 

Director

Director/Board Member

 

William John Bowtle

 

Director

Director/Board Member

 

Stephen Brown

 

Director

Director/Board Member

 

Glyn William Dowler

 

Director

Director/Board Member

 

Anne Elizabeth Dowler

 

Director

Director/Board Member

 

James Savage

 

Director

Director/Board Member

EXP 

 

Executives

 

Name

Title

Function

 

David Mcnab

 

Secretary

Company Secretary

 

Jane McCulloch

 

Human Resource Manager

Human Resources Executive

 

Directors and Shareholders Report

 

Main Office Address:
Units 4, 5 & 6, Oakbank Park Way
Livingston
United Kingdom EH53 0TH

Tel: 01506448080
Fax: 01506448081
URL:www.encapdrugdelivery.com

Annual Return Date: 06 Jan 2011
Total Issued Capital (GBP 0 00): 301

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Glyn William 
Dowler

Current

05 Mar 1944

Broadfield Hall, Broadfield, 
Buntingford, Hertfordshire SG9 9RD

12 Jan 1994

NA

Current:3
Previous:7
Disqualifications:0

 

Anne Elizabeth 
Dowler

Current

03 Jan 1943

Broadfield Hall Broadfield, 
Buntingford, Hertfordshire SG9 9RD

21 May 2008

NA

Current:1
Previous:5
Disqualifications:0

 

Tracy 
Barnett

Current

14 Mar 1970

Mw Creative 1 Station Road, Foxton, 
Cambridge, Cambridgeshire CB2 6SW

21 Oct 2009

NA

Current:2
Previous:0
Disqualifications:0

 

Anne 
Dowler

Current

NA

Bear House Gravelley Dell Braughing Bury, Braughing, 
Ware, Hertfordshire SG11 2RD

21 May 2008

NA

Current:2
Previous:0
Disqualifications:0

 

Stephen 
Brown

Current

07 Feb 1958

32 Victoria Avenue, 
Saffron Walden, Essex CB11 3AE

18 Apr 2007

NA

Current:1
Previous:0
Disqualifications:0

 

James 
Savage

Current

05 May 1961

45 Orbiston Drive, 
Bellshill, North Lanarkshire ML4 2LT

01 Jul 2004

NA

Current:1
Previous:0
Disqualifications:0

 

David 
Mcnab

Current

31 May 1960

25 Calderview Avenue, 
Coatbridge, North Lanarkshire ML5 4TQ

16 Apr 2008

NA

Current:3
Previous:0
Disqualifications:0

 

Barrie 
Clarke

Previous

09 Jul 1941

32 Sellerdale Avenue, Wyke, 
Bradford, West Yorkshire BD12 9LJ

12 Jan 1994

30 Apr 1997

Current:0
Previous:7
Disqualifications:0

 

John Owen 
Hall

Previous

24 Jul 1942

31 Sandown Road, 
West Malling, Kent ME19 6NU

01 Mar 1994

30 Apr 1997

Current:0
Previous:2
Disqualifications:0

 

Edward Ian 
Pruchniewicz

Previous

01 May 1949

Croft House 291 Oxford Road, Gomersal, 
Cleckheaton, West Yorkshire BD19 4JP

12 Jan 1994

30 Sep 2002

Current:1
Previous:6
Disqualifications:0

 

Joseph Vincent 
Carey

Previous

19 Jul 1964

13 Broad Street, Great Cambourne, 
Cambridge, Cambridgeshire CB3 6EL

05 Sep 2006

30 Apr 2008

Current:0
Previous:1
Disqualifications:0

 

Paul Charlton 
Titley

Previous

09 Dec 1952

1 Burnvale Place, 
Livingston, West Lothian EH54 6GD

10 Jun 2002

22 Aug 2005

Current:0
Previous:1
Disqualifications:0

 

Laraine Josephine 
Aikman

Previous

13 Apr 1960

36 Craiglockhart Road North, 
Juniper Green, Edinburgh, City of EH14 1BT

30 Apr 1997

28 Feb 2001

Current:0
Previous:1
Disqualifications:0

 

Colin 
Saywood

Previous

22 Oct 1949

27 Corbiehill Avenue, 
Edinburgh, Edinburgh, City of EH4 5DX

30 Apr 1997

23 Oct 1997

Current:0
Previous:2
Disqualifications:0

 

Geoffrey David 
Tovey

Previous

18 Mar 1940

Dell Croft 3 Cross Lane, 
Harpenden, Hertfordshire AL5 1BX

05 Jan 1999

31 Oct 2001

Current:1
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

 

There are no corporate directors for this company.

 

 

 

Individual Secretaries

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

David 
Mcnab

Current

31 May 1960

25 Calderview Avenue, 
Coatbridge, North Lanarkshire ML5 4TQ

01 Aug 2004

NA

Current:3
Previous:0
Disqualifications:0

 

Barrie 
Clarke

Previous

09 Jul 1941

32 Sellerdale Avenue, Wyke, 
Bradford, West Yorkshire BD12 9LJ

12 Jan 1994

31 Jan 1999

Current:0
Previous:7
Disqualifications:0

 

Michael 
Broadhead

Previous

16 May 1949

20 Ouzlewell Green, Wakefield, 
Wakefield, West Yorkshire WF3 3QR

NA

12 Jan 2000

Current:1
Previous:5
Disqualifications:0

 

Barry 
Clarke

Previous

09 Jul 1941

16 Bellman Walk, 
Ripon, North Yorkshire HG4 2TY

12 Jan 2000

31 Jul 2004

Current:0
Previous:4
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

 

There are no corporate secretaries for this company.

 

 

Individual Shareholders

 

There are no individual shareholders for this company.

 

 

 

 

 

 

 

 

 

Corporate Shareholders

 

Company Name

Registration Number

Share Details 
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

MW Encap (Holdings) Ltd

03166262

301000 Ordinary GBP 1.00

Ordinary

301,000

1.00

301,000.00

100.00

 

 

 

Annual Profit & Loss

 

 

Financials in: USD (mil)          

Except for share items (millions) and per share items (actual units)   

 

 

 

30-Apr-2010

30-Apr-2009

30-Apr-2008

30-Apr-2007

30-Apr-2006

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.625491

0.607152

0.498433

0.523688

0.563559

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Depreciation

0.6

0.6

0.5

0.5

0.4

Audit Fees

0.0

0.0

-

-

-

Non Audit Fees

0.0

0.0

-

-

-

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

30-Apr-2010

30-Apr-2009

30-Apr-2008

30-Apr-2007

30-Apr-2006

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.653317

0.674855

0.50491

0.500038

0.550161

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Tangible Fixed Assets

3.8

4.1

4.3

1.9

2.0

Intangible Assets

0.0

0.0

0.0

0.0

0.0

Investments

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

3.8

4.1

4.3

1.9

2.0

Stocks

-

0.2

-

-

-

Work in Progress

-

0.1

-

-

-

Total Stocks Work In Progress

0.4

0.4

0.2

0.2

0.2

Total Debtors

1.0

1.0

1.8

1.2

0.6

Cash and Equivalents

1.5

0.8

0.3

1.4

0.6

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

3.0

2.1

2.3

2.9

1.4

Total Assets

6.8

6.3

6.6

4.7

3.4

Other Current Liabilities

2.4

2.0

2.7

2.4

2.1

Total Current Liabilities

2.4

2.0

2.7

2.4

2.1

Other Long Term Liabilities

0.8

1.1

0.6

0.0

0.2

Total Long Term Liabilities

0.8

1.1

0.6

0.0

0.2

Other Provisions

0.3

0.3

0.4

0.1

0.1

Total Provisions

0.3

0.3

0.4

0.1

0.1

Issued Capital

0.5

0.4

0.6

0.6

0.5

Share Premium Accounts

0.0

0.0

0.0

0.0

0.0

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

2.8

2.4

2.3

1.5

0.5

Other Reserves

0.0

0.0

0.0

0.0

0.0

Minority Interests (Balance Sheet)

0.0

0.0

0.0

0.0

0.0

Total Shareholders Funds

3.2

2.8

2.9

2.1

1.0

Net Worth

3.2

2.8

2.9

2.1

1.0

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

30-Apr-2010

30-Apr-2009

30-Apr-2008

30-Apr-2007

30-Apr-2006

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.625491

0.607152

0.498433

0.523688

0.563559

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

30-Apr-2010

30-Apr-2009

30-Apr-2008

30-Apr-2007

30-Apr-2006

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.653317

0.674855

0.50491

0.500038

0.550161

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

1.25

1.06

0.84

1.17

0.69

Liquidity Ratio

1.07

0.88

0.77

1.09

0.58

Equity Gearing

47.81%

45.02%

44.56%

45.14%

30.03%

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.95

UK Pound

1

Rs.75.76

Euro

1

Rs.66.01

 

 

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.