MIRA INFORM REPORT
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Report Date : |
30.07.2011 |
IDENTIFICATION DETAILS
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Name : |
NOREX FOREST PRODUCTS LTD. |
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Registered Office : |
18 Hand Court, London, WC1V 6JF |
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Country : |
United States |
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Financials (as on) : |
31.05.2010 |
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Date of Incorporation : |
21.04.1992 |
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Com. Reg. No.: |
02708448 |
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Legal Form : |
Private Independent |
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Line of Business : |
Timber and Hardware Goods Wholesaling |
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
Norex Forest Products Ltd.
Walton Street
Tadworth, KT20 7RR
United Kingdom
Tel: 01737814567
Fax: 01737217524
Web: www.norex.co.uk
Synthesis
Employees: 18
Company Type: Private Independent
Quoted Status: Non-quoted Company
Incorporation Date:
21-Apr-1992
Auditor: Gorrie Whitson Ltd.
Financials in: Usd (Millions)
Fiscal Year End:
31-May-2010
Reporting Currency: British
Pound Sterling
Annual Sales: NA
Total Assets: 0.9
Business Description
Flooring (Wood)
Industry
Industry Construction - Raw Materials
ANZSIC 2006: 333 - Timber and
Hardware Goods Wholesaling
NACE 2002: 5153 - Wholesale
of wood, construction materials and sanitary equipment
NAICS 2002: 4233 - Lumber and
Other Construction Materials Merchant Wholesalers
UK SIC 2003: 5153 - Wholesale
of wood, construction materials and sanitary equipment
US SIC 1987: 503 - Lumber and
Other Construction Materials
Key executive
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Name |
Title |
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Simon Alexander Creagh Chapman |
Director |
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David Cunningham Judd |
Director |
Financial Summary
FYE: 31-May-2010 USD (mil)
Key Figures
Current Assets 0.87
Fixed Assets 0.0007
Total Liabilities 0.53
Net Worth 0.34
Key Ratios
Current Ratio 1.65
Acid Test 1.22
Registered No.(UK): 02708448
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6282004
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.688255
Corporate Overview
Location
Walton Street
Tadworth, KT20 7RR
Surrey County
United Kingdom
Tel: 01737814567
Fax: 01737217524
Web: www.norex.co.uk
Sales GBP(mil): NA
Assets GBP(mil): 0.6
Employees: 18
Fiscal Year End: 31-May-2010
Industry: Construction
- Raw Materials
Registered
Address:
18 Hand Court
London, WC1V 6JF
United Kingdom
Incorporation Date: 21-Apr-1992
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(UK): 02708448
Director: Simon
Alexander Creagh Chapman
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
333 - Timber and Hardware Goods Wholesaling
NACE 2002 Codes:
5153 - Wholesale of wood, construction materials and sanitary
equipment
NAICS 2002 Codes:
4233 - Lumber and Other Construction Materials Merchant
Wholesalers
US SIC 1987:
503 - Lumber and Other Construction Materials
UK SIC 2003:
5153 - Wholesale of wood, construction materials and sanitary
equipment
Business
Description
Flooring (Wood)
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Executive reports
Board of Directors
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Director |
Director/Board Member |
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Director |
Director/Board Member |
Directors and Shareholders Report
Main Office
Address:
Walton Street
Tadworth
United Kingdom KT20 7RR
Tel: 01737814567
Fax: 01737217524
URL: www.norex.co.uk
Annual Return Date: 21
Apr 2011
Total Issued Capital (GBP 000): 80
Individual Directors
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Name |
Status |
DOB |
Filed
Address |
Appointment
Date |
Resignation
Date |
Summary
of Directorships |
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Current |
18 Jan 1960 |
Summerhayes, |
24 Jun 1996 |
NA |
Current:3 |
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Current |
26 Mar 1953 |
Leladene, Camilla Drive Westhumble, |
01 Mar 1996 |
NA |
Current:3 |
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Previous |
05 Jan 1960 |
Summerhayes Broome Park, Station Road, |
02 May 1995 |
31 Jul 1995 |
Current:0 |
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Previous |
09 Sep 1947 |
43 Pennington Place, |
NA |
03 May 1995 |
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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Previous |
18 Jan 1960 |
Summerhayes, |
21 Apr 1992 |
21 Apr 2009 |
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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David Cunningham Judd |
30000 Ordinary GBP 1.00 |
Ordinary |
30,000 |
1.00 |
30,000.00 |
37.50 |
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Simon Alexander Creagh Chapman |
50000 Ordinary GBP 1.00 |
Ordinary |
50,000 |
1.00 |
50,000.00 |
62.50 |
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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-May-2010 |
31-May-2009 |
31-May-2008 |
31-May-2007 |
31-May-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) |
0.6282 |
0.61899 |
0.498857 |
0.520969 |
0.563313 |
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Consolidated |
No |
No |
No |
No |
No |
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Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Balance Sheet
Financials
in: USD (mil)
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|
31-May-2010 |
31-May-2009 |
31-May-2008 |
31-May-2007 |
31-May-2006 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate |
0.688255 |
0.620136 |
0.506022 |
0.505536 |
0.534388 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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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 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Stocks Work In Progress |
0.2 |
0.4 |
0.2 |
0.3 |
0.1 |
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Total Debtors |
0.6 |
0.5 |
1.2 |
0.6 |
0.8 |
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Cash and Equivalents |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
0.9 |
1.0 |
1.5 |
0.9 |
0.9 |
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Total Assets |
0.9 |
1.0 |
1.5 |
0.9 |
0.9 |
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Other Current Liabilities |
0.5 |
0.6 |
1.0 |
0.6 |
0.6 |
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Total Current Liabilities |
0.5 |
0.6 |
1.0 |
0.6 |
0.6 |
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Group Loans (Long Term Liability) |
0.0 |
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 |
0.0 |
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Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Leasing (Long Term Liability) |
0.0 |
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 |
0.0 |
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Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Accruals/Deferred Income (Long Term Liability) |
0.0 |
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 |
0.0 |
0.0 |
0.0 |
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Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Issued Capital |
0.1 |
0.1 |
0.2 |
0.2 |
0.1 |
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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 |
0.2 |
0.3 |
0.3 |
0.2 |
0.1 |
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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 |
0.3 |
0.4 |
0.5 |
0.3 |
0.3 |
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Net Worth |
0.3 |
0.4 |
0.5 |
0.3 |
0.3 |
Annual
Cash Flows
Financials
in: USD (mil)
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|
31-May-2010 |
31-May-2009 |
31-May-2008 |
31-May-2007 |
31-May-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) |
0.6282 |
0.61899 |
0.498857 |
0.520969 |
0.563313 |
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Consolidated |
No |
No |
No |
No |
No |
Annual
Ratios
Financials in: USD (mil)
|
|
31-May-2010 |
31-May-2009 |
31-May-2008 |
31-May-2007 |
31-May-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 |
0.688255 |
0.620136 |
0.506022 |
0.505536 |
0.534388 |
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Consolidated |
No |
No |
No |
No |
No |
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Current Ratio |
1.65 |
1.77 |
1.44 |
1.61 |
1.46 |
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Liquidity Ratio |
1.22 |
1.03 |
1.23 |
1.06 |
1.24 |
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Equity Gearing |
39.40% |
43.58% |
30.86% |
37.95% |
31.56% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.16 |
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UK Pound |
1 |
Rs.72.10 |
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Euro |
1 |
Rs.63.10 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<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.