%20-%20148746%2019-Jul-2011_files/image002.jpg){kind=small}
MIRA INFORM REPORT
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Report Date : |
19.07.2011 |
IDENTIFICATION DETAILS
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Name : |
PHOENIX ABRASIVE WHEEL CO.LTD.(THE) |
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Registered Office : |
71 Shepley Industrial Estate South,
Audenshaw, Manchester, M34 5DW |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
27.03.1968 |
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Com. Reg. No.: |
00929557 |
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Legal Form : |
Private Parent Company |
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Line of Business : |
Manufacturer of abrasive products. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 & address
Phoenix Abrasive Wheel
Co.Ltd.(The)
71 Shepley Industrial Estate South
Audenshaw
Manchester, M34 5DW
United Kingdom
Company summary
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Employees: |
30 |
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Company Type: |
Private Parent |
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Corporate Family: |
4 Companies |
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Quoted Status: |
Non-quoted Company |
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Incorporation Date: |
27-Mar-1968 |
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Auditor: |
Moss And Williamson |
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Fiscal Year End: |
31-Mar-2010 |
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Reporting Currency: |
British Pound Sterling |
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Annual Sales: |
NA |
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Total Assets: |
2.3 |
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Financial in |
USD (Mill.) |
Business Description
Manufacture of abrasive products.
Industry
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Industry |
Construction -
Supplies and Fixtures |
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ANZSIC 2006: |
2090 - Other
Non-Metallic Mineral Product Manufacturing |
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NACE 2002: |
2681 -
Production of abrasive products |
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NAICS 2002: |
327910 -
Abrasive Product Manufacturing |
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UK SIC 2003: |
2681 -
Production of abrasive products |
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US SIC 1987: |
3291 - Abrasive
Products |
Key Executives
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Financial Summary
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1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.6277937
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6592392
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Contents |
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Manufacture of abrasive products. |
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Corporate
Family |
Corporate
Structure News: |
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Phoenix Abrasive
Wheel Co.Ltd.(The) |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Manchester |
United Kingdom |
Construction - Supplies and Fixtures |
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30 |
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Subsidiary |
Hyde |
United Kingdom |
Miscellaneous Capital Goods |
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21 |
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Subsidiary |
Manchester |
United Kingdom |
Nonclassifiable Industries |
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Subsidiary |
Manchester |
United Kingdom |
Nonclassifiable Industries |
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Board of Directors |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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Managing Director |
Managing Director |
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Secretary |
Company Secretary |
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Sales Manager |
Sales Executive |
Directors and Shareholders Report
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Main Office Address: |
Tel: 01613209580 |
Annual Return Date: 03 Aug 2010 |
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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 |
13 Jan 1952 |
Shepley Industrial Estate, Audenshaw, |
24 Feb 2010 |
NA |
Current:4 |
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Current |
16 Aug 1942 |
The Bungalow Larch Meadows, Mile Flat Wall
Heath, |
26 Sep 2003 |
NA |
Current:6 |
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Current |
19 Aug 1959 |
C/O The Phoenix Abrasive Wheel, Co Ltd
Shepley Industrial Estate, |
24 Feb 2010 |
NA |
Current:7 |
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Current |
24 Jan 1967 |
Shepley Industrial Estate, Audenshaw, |
03 Sep 2001 |
NA |
Current:1 |
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Previous |
20 Sep 1933 |
The Haven 130 Clasemont Road, Morriston, |
03 Aug 1991 |
08 Nov 2002 |
Current:0 |
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Previous |
24 Sep 1948 |
2 Greenside Drive, Hale, |
02 Apr 2003 |
09 Apr 2010 |
Current:0 |
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Previous |
29 Nov 1936 |
14 Ashbrook Close, Denton, |
03 Aug 1991 |
30 Nov 2001 |
Current:0 |
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Previous |
20 Sep 1919 |
16 Woodfield Road, Middleton, |
03 Aug 1991 |
16 Jun 2005 |
Current:0 |
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Previous |
05 Apr 1944 |
240 Birch Lane, |
03 Aug 1991 |
30 Aug 2001 |
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 |
NA |
C/O The Phoenix Abrasive Wheel, Co Ltd Shepley Industrial Estate, |
03 Aug 1991 |
NA |
Current:3 |
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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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Charlotte Ann Bonnar |
3260 Ordinary GBP 1.00 |
Ordinary |
3,260 |
1.00 |
3,260.00 |
0.91 |
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Grant David Roberts |
2000 Ordinary GBP 1.00 |
Ordinary |
2,000 |
1.00 |
2,000.00 |
0.56 |
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James Albert Shaw |
901 Ordinary GBP 1.00 |
Ordinary |
901 |
1.00 |
901.00 |
0.25 |
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Janette Anthea Tierney |
2000 Ordinary GBP 1.00 |
Ordinary |
2,000 |
1.00 |
2,000.00 |
0.56 |
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Keith Joseph Lawless |
9805 Ordinary GBP 1.00 |
Ordinary |
9,805 |
1.00 |
9,805.00 |
2.73 |
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Mary Penketh |
30000 Ordinary GBP 1.00 |
Ordinary |
30,000 |
1.00 |
30,000.00 |
8.36 |
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Norman Leonard Leighter |
24943 Ordinary GBP 1.00 |
Ordinary |
24,943 |
1.00 |
24,943.00 |
6.95 |
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Robert Edwin Rupert Whitmore |
106447 Ordinary GBP 1.00 |
Ordinary |
106,447 |
1.00 |
106,447.00 |
29.65 |
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Sarah Jane Macdonald |
3260 Ordinary GBP 1.00 |
Ordinary |
3,260 |
1.00 |
3,260.00 |
0.91 |
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Corporate Shareholders |
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Company Name |
Registration Number |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
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01312359 |
176384 Ordinary GBP 1.00 |
Ordinary |
176,384 |
1.00 |
176,384.00 |
49.13 |
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Annual Profit & Loss
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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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31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
31-Mar-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) |
0.627794 |
0.592803 |
0.498361 |
0.528925 |
0.560422 |
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Consolidated |
No |
No |
No |
No |
No |
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Depreciation |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
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Annual Balance Sheet |
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Financials in:
USD (mil) |
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%20-%20148746%2019-Jul-2011_files/image006.gif){kind=small}
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31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
31-Mar-2006 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate |
0.659239 |
0.697666 |
0.503145 |
0.509853 |
0.576518 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.5 |
0.5 |
0.7 |
0.7 |
0.6 |
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Intangible Assets |
0.1 |
0.1 |
0.2 |
0.2 |
0.2 |
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Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
0.6 |
0.6 |
0.9 |
0.9 |
0.8 |
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Total Stocks Work In Progress |
0.4 |
0.3 |
0.6 |
0.5 |
0.4 |
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Total Debtors |
1.1 |
0.7 |
1.3 |
1.3 |
1.1 |
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Cash and Equivalents |
0.1 |
0.4 |
0.2 |
0.3 |
0.2 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
1.7 |
1.4 |
2.0 |
2.1 |
1.7 |
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Total Assets |
2.3 |
2.0 |
3.0 |
3.0 |
2.5 |
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Other Current Liabilities |
0.7 |
0.5 |
0.8 |
1.0 |
0.9 |
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Total Current Liabilities |
0.7 |
0.5 |
0.8 |
1.0 |
0.9 |
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Other Long Term Loans |
0.0 |
0.1 |
0.2 |
0.2 |
0.2 |
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Other Long Term Liabilities |
0.2 |
0.1 |
0.2 |
0.2 |
0.1 |
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Total Long Term Liabilities |
0.2 |
0.2 |
0.3 |
0.4 |
0.3 |
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Other Provisions |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
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Total Provisions |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
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Issued Capital |
0.5 |
0.5 |
0.7 |
0.7 |
0.6 |
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Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Retained Earnings |
0.9 |
0.8 |
1.0 |
0.9 |
0.7 |
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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 |
1.4 |
1.3 |
1.7 |
1.6 |
1.3 |
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Net Worth |
1.3 |
1.1 |
1.5 |
1.3 |
1.1 |
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Annual Cash Flows |
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Financials in:
USD (mil) |
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31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
31-Mar-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) |
0.627794 |
0.592803 |
0.498361 |
0.528925 |
0.560422 |
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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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|
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
31-Mar-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 |
0.659239 |
0.697666 |
0.503145 |
0.509853 |
0.576518 |
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Consolidated |
No |
No |
No |
No |
No |
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Current Ratio |
2.50 |
2.97 |
2.47 |
2.07 |
1.95 |
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Liquidity Ratio |
1.87 |
2.23 |
1.72 |
1.62 |
1.48 |
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Borrowing Ratio |
- |
6.54% |
10.00% |
13.25% |
18.26% |
|
Equity Gearing |
61.57% |
63.63% |
58.60% |
52.13% |
50.98% |
|
Debt Gearing |
- |
6.54% |
10.00% |
13.25% |
18.26% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.57 |
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UK Pound |
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.62.60 |
RATING EXPLANATIONS
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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 |
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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 |
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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 |
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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.