MIRA INFORM REPORT

 

 

Report Date :

08.07.2011

 

IDENTIFICATION DETAILS

 

Name :

POLYMAX LIMITED

 

 

Registered Office :

Building 91 Seme, Budds Lane, Bordon, Hampshire, GU35 0JE.

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.04.2010

 

 

Date of Incorporation :

14.04.2004

 

 

Com. Reg. No.:

05101708

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Retailers of Rubber & Plastic Products.

 

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 :

GBP 32,500

 

 

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 Identification Details

 

Subject Reported on

POLYMAX LIMITED

Registration Number

05101708

VAT Number

GB809868183

Address

SCHOOL OF ELECTRICAL & MECHANI, BUDDS LANE, BORDON, HAMPSHIRE, GU35 0JE.

Telephone

01420 474123

Email

sales@polymax.co.uk

Web Address

www.polymax.co.uk

 

Creditline Recommendations

 

Monthly Credit Guide

GBP 32,500

 

 

 

 

 

Official Company Data

 

 

Legal Form

Private Limited

Registration Number

05101708

VAT Number

GB809868183

Subject Status

Trading

Date of Incorporation

14/04/2004

Registered Office

BUILDING 91 SEME, BUDDS LANE, BORDON, HAMPSHIRE, GU35 0JE.

History

19/04/2011 : The Registered Office address changed from BUILDING 90 SEME, BUDDS LANE, BORDON, HAMPSHI.

Date of Last Annual Return to Registry

14/04/2011

Accounts

The last filed accounts at Companies House are those to 30/04/2010

Accounting Reference Date

30/04

 

 

 

Operations

 

 

Activities

Retailers of Rubber & Plastic Products.

Nace Code

7487

Premises

Rented,Offices,Warehouse

Staff Employed

10

Import Countries

ALL OVER THE WORLD

Export Countries

ALL OVER THE WORLD

Bankers

BARCLAYS BANK PLC

Address

BORDON.

Sort Code

201113

Auditors

E. Dessai & Co

Branches

SCHOOL OF ELECTRICAL & MECHANI, BUDDS LANE, BORDON, HAMPSHIRE, GU35 0JE.

 

 

 

 

Previous Searches

 

Search History Summary

 

Last 3 Months

Last 6 Months

Last 12 Months

2

3

4

 

Search History Details

 

The Search History Details shows details of the most recent 40 searches

 

Date

Description

20/05/2011

Non-life insurance

15/04/2011

Labour recruitment and provision of personnel

22/03/2011

Miscellaneous

20/07/2010

Miscellaneous

02/11/2009

Other credit granting

 

 

 

Public Record Information

 

 

Summary of CCJ's/Scottish Decrees

 

No CCJs/Scottish Decrees are recorded in our file.

 

 

 

Other Filings and Notices

 

 

Date

Source

Description

 

15/05/2008

Companies House Gazette

Change among directors of a company

30/04/2004

Companies House Gazette

Change among directors of a company

 

 

 

 

 

 

 

Company Secretary

 

 

Secretary

A & S CONSULTANTS LIMITED

Service Address

VYMAN HOUSE 2ND FLOOR, 104 COLLEGE ROAD, HARROW, MIDDLESEX, HA1 1BQ.

Country of Origin

UNITED KINGDOM

Appointment Date

14/04/2004

 

 

 

Directors

 

 

Director

DAMON HAWKEN HARTLEY

Service Address

BUILDING 91 SEME, BUDDS LANE, BORDON, HAMPSHIRE, GU35 0JE.

Country of Origin

UNITED KINGDOM

Date of Birth

17/06/1959

Appointment Date

14/04/2004


Director


RISHI NIJHAWAN

Service Address

BUILDING 91 SEME, BUDDS LANE, BORDON, HAMPSHIRE, GU35 0JE.

Country of Origin

UNITED KINGDOM

Date of Birth

22/05/1975

Appointment Date

26/04/2004

Other Directorships

POLYMAX UK LIMITED

 

 

 

Share Capital

 

 

Shares

Ordinary GBP 1.00

Issued Number

4

Principal Shareholder

1 Joanne Hartley

 

1 Swapna Nijhawan

 

1 Damon Andrew Hawken Hartley

 

1 Rishi Nijhawan

 

The above reflects the principle shareholder(s) by number of shares held, irrespective of share classification type.

 

 

 

 

 

 

 

 

 

 

 

Financial Data– Statutory Accounts

 

 

Profit & Loss Accounts are not available for companies categorised as small companies under the companies act.

 

For annual accounts images, view the

 

Balance Sheet

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

30/04/2010

30/04/2009

30/04/2008

30/04/2007

Currency

GBP

GBP

GBP

GBP

TOTAL FIXED ASSETS

12

13

15

6

Tangible Assets

12

13

15

6

TOTAL CURRENT ASSETS

641

586

408

279

Trade debtors

84

98

65

85

Stocks

426

284

213

117

Other Current Assets

131

204

130

77

Cash

131

204

130

77

TOTAL ASSETS

653

599

423

285

TOTAL CURRENT LIABILITIES

423

318

216

157

Trade creditors

423

318

216

157

WORKING CAPITAL

218

268

192

122

NET ASSETS/(LIABILITIES)

230

281

207

128

SHARE CAPITAL + RESERVES

230

281

207

128

Profit and Loss account

230

281

207

128

SHAREHOLDERS FUNDS

230

281

207

128

CAPITAL EMPLOYED

230

281

207

128

 

Financial Comparison

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

30/04/2010

30/04/2009

30/04/2008

30/04/2007

Currency

GBP

GBP

GBP

GBP

Liquid Assets

215

302

195

162

Net Working Capital

218

268

192

122

Tangible Net Worth(T.N.W)

230

281

207

128

Equity

230

281

207

128

Number of Years Trading

6

5

4

3

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

30/04/2010

30/04/2009

30/04/2008

30/04/2007

Current Ratio

1.5

1.8

1.9

1.8

Quick Ratio

0.5

0.9

0.9

1

T.N.W/Total Assets%

35.2

46.9

48.9

44.9

Equity Gearing%

54.4

88.4

95.8

81.5

 

 

 

 

 

 

 

Key Industry Sector Trends

 

 

Year

2011

2010

2009

2008

Sample Size

7590

99999

99999

99999

Pre-Tax Profit Margin

29.2

15.1

13.3

16.4

Current Ratio

1.6

1.8

1.9

1.8

Borrowing Ratio

59.8

35.7

37.6

44.7

Return on Capital

183.4

60.9

47.4

57.4

Creditors Days

150

316

294

204

 

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Miscellaneous business activities not elsewhere classified

 

 

 

Financial Summary

 

 

Auditors Qualification

The company has taken advantage of exemptions under the Companies Act such that the accounts have not been audited or examined.

 

No Turnover

The company's balance sheet total is less than GBP 2,800,001 and therefore this is a small company as defined by the Companies Act.It is not required to disclose turnover but it is likely to be less than GBP 5,600,000.

 

No Pre-Tax Profit

The Company is exempt from the requirement to file a Profit Loss Account. We note that the difference on the Profit and Loss Account shownon the Balance Sheet is GBP 51,000 decrease. This suggests that the Company may have made a post-tax loss of GBP 51,000.

 

Working Capital

The subject's working capital decreased by 19 % in the period but remains positive.

 

Fixed Assets

The subject's fixed assets reduced during the year by GBP 1,000 to GBP 12,000 and are now 1 % of total assets compared with 2 % in the previous year.


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.42

UK Pound

1

Rs.70.95

Euro

1

Rs.63.63

 

 

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.