MIRA INFORM REPORT

 

 

Report Date :           

13.05.2011

 

IDENTIFICATION DETAILS

 

Name :

M TECHNOLOGIES LIMITED 

 

 

Formerly Known As :

CANSURE LIMITED         

 

 

Registered Office :

Hartfield Place, 40-44 High Street, Northwood, Middlesex,  Ha6 1bn

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

31.10.2010

 

 

Date of Incorporation :

15.10.1981

 

 

Com. Reg. No.:

01591458

 

 

Legal Form :

Private limited Company

 

 

Line of Business :

Software consultancy and supply

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

£10,000

Status :

Moderate

Payment Behaviour :

No Complaints

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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 summary

 

Top of Form

Company Name

M TECHNOLOGIES LIMITED

Company Number

01591458

Registered Address

HARTFIELD PLACE, 40-44 HIGH

Trading Address

Hartfield Place, 40-44 High
Street, Northwood
HA6 1BN

 

STREET, NORTHWOOD

 

 

MIDDLESEX

 

 

HA6 1BN

 

 

 

 

 

 

Website Address

-

 

 

Telephone Number

-

Fax Number

 

TPS

-

FPS

No

Incorporation Date

15/10/1981

Company Status

Active - Accounts Filed

Previous Name

CANSURE LIMITED

Type

Private limited with Share Capital

 

 

Filing Date of Accounts

08/04/2011

Date of Change

24/07/1998

Share Capital

£100

Sic Code

7222

Currency

GBP

Sic Description

OTHER SOFTWARE CONSULTANCY & SUPPLY

Principal Activity

Software consultancy and supply.

Accounts Due Date 31/07/2012

 

Credit Limit

 

Limit

£10,000

Previous Limit

£1,000

Contract Limit

£20,000

 

 

 

 

Commentary

 

No exact match CCJs are recorded against the company.

 

There is insufficient data to indicate a change in this company’s percentage of sales.

 

In the previous 12 month trading period Net Worth decreased by 33%.

 

A 15.5% decline in Total Assets occurred in the previous 12 month trading period.

 

There is insufficient data to indicate a change in this company’s pre-tax profit.

 

The company saw an increase in their Cash Balance of 7% in the previous 12 month trading period.

 

The company is exempt from audit.

 

No recent changes in directorship are recorded.

 

The company is not part of a group.

 

The negative change in the P&L Account Reserve suggests that the company made a loss after tax and other appropriations.

 

The company was established over 29 years ago.

 

 

 

 

 

 

 

 

Last 3 Years Credit Limit

 

Date

Limit

31/12/2010

£10,000

31/12/2009

£1,000

31/12/2008

£25,000

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/10/2010

-

-

£145,483

-

31/10/2009

-

-

£217,183

-

31/10/2008

-

-

£246,174

-

 

 

CCJ

 

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

 

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

 

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

 

Total Number of Writs -

0

 

 

 

 

Exact CCJ Details

 

There are no exact CCJ details

 

 

Possible CCJ Details

 

There are no possible CCJ details


Writ Details

 

There are no writ details

 

 

Mortgage Summary

 

 

Outstanding

2

 

Satisfied

0

 

 

 

 

 

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

1

 

 

Current Directors

 

Name

Geraldine Aileen Milner

Date of Birth

06/03/1951

Officers Title

Ms

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

23/04/1991

 

 

Address

4 Starling Close,  ,  Pinner,  HA5 3PH

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Andrew Stuart Milner

Date of Birth

01/01/1951

Officers Title

Mr

Nationality

British

Present Appointments

6

Function

Director

Appointment Date

14/06/2008

 

 

Address

4 Starling Close,  ,  Pinner,  HA5 3PH

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

 

Current Company Secretary

 

Name

Andrew Stuart Milner

Date of Birth

01/01/1951

Officers Title

Mr

Nationality

British

Present Appointments

6

Function

Company Secretary

Appointment Date

30/08/1995

 

 

Address

4 Starling Close,  ,  Pinner,  HA5 3PH

Other Actions

 

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Top 20 Shareholders

 

Name

Individual Share Value

ANDREW STUART MILNER

70 ORDINARY GBP 1.00

GERALDINE AILEEN MILNER

30 ORDINARY GBP 1.00

 

 

Profit & Loss

 

Date Of Accounts

31/10/10

(%)

31/10/09

(%)

31/10/08

(%)

31/10/07

(%)

31/10/06

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

-

-

-

-

-

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

-

-

-

-

-

-

-

-

-

Depreciation

£789

5.3%

£749

5%

£713

-1.8%

£726

20.6%

£602

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

31/10/10

(%)

31/10/09

(%)

31/10/08

(%)

31/10/07

(%)

31/10/06

Tangible Assets

£382,444

-15.5%

£452,602

0%

£452,559

0%

£452,671

12.6%

£402,126

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£382,444

-15.5%

£452,602

0%

£452,559

0%

£452,671

12.6%

£402,126

Stock

0

-

0

-

0

-

0

-

0

Trade Debtors

£402

-71%

£1,387

-38.9%

£2,269

-

0

-100%

£15,599

Cash

£3,071

7%

£2,869

-82.7%

£16,598

-71.5%

£58,261

423.6%

£11,126

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£3,473

-18.4%

£4,256

-77.4%

£18,867

-67.6%

£58,261

118%

£26,725

Trade Creditors

£150,264

7.2%

£140,114

18.7%

£118,022

3.3%

£114,201

18.9%

£96,059

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

Total Current Liabilities

£150,264

7.2%

£140,114

18.7%

£118,022

3.3%

£114,201

18.9%

£96,059

Bank Loans & Overdrafts and LTL

£90,170

-9.4%

£99,561

-7.2%

£107,230

-5%

£112,860

-4.4%

£118,085

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

£90,170

-9.4%

£99,561

-7.2%

£107,230

-5%

£112,860

-4.4%

£118,085

 

 

Capital & Reserves

 

Date Of Accounts

31/10/10

(%)

31/10/09

(%)

31/10/08

(%)

31/10/07

(%)

31/10/06

Called Up Share Capital

£100

-

£100

-

£100

-

£100

-

£100

P & L Account Reserve

-£1,314

-440.4%

£386

-98.7%

£29,377

-56.2%

£67,074

40%

£47,910

Revaluation Reserve

£146,697

-32.3%

£216,697

-

£216,697

-

£216,697

30%

£166,697

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£145,483

-33%

£217,183

-11.8%

£246,174

-13.3%

£283,871

32.2%

£214,707

 

 

Other Financial Items

 

Date Of Accounts

31/10/10

(%)

31/10/09

(%)

31/10/08

(%)

31/10/07

(%)

31/10/06

Net Worth

£145,483

-33%

£217,183

-11.8%

£246,174

-13.3%

£283,871

32.2%

£214,707

Working Capital

-£146,791

-8%

-£135,858

-37%

-£99,155

-77.3%

-£55,940

19.3%

-£69,334

Total Assets

£385,917

-15.5%

£456,858

-3.1%

£471,426

-7.7%

£510,932

19.1%

£428,851

Total Liabilities

£240,434

0.3%

£239,675

6.4%

£225,252

-0.8%

£227,061

6%

£214,144

Net Assets

£145,483

-33%

£217,183

-11.8%

£246,174

-13.3%

£283,871

32.2%

£214,707

Cash Flow

 

Date Of Accounts

31/10/10

(%)

31/10/09

(%)

31/10/08

(%)

31/10/07

(%)

31/10/06

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

 

Miscellaneous

 

Date Of Accounts

31/10/10

(%)

31/10/09

(%)

31/10/08

(%)

31/10/07

(%)

31/10/06

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£235,653

-25.6%

£316,744

-10.4%

£353,404

-10.9%

£396,731

19.2%

£332,792

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

 

Auditor Comments

The company is exempt from audit

Bankers

 

Bank Branch Code

 

 

 

Ratios

 

 

Date Of Accounts

31/10/10

31/10/09

31/10/08

31/10/07

31/10/06

 

Pre-tax profit margin %

-

-

-

-

-

 

Current ratio

0.02

0.03

0.16

0.51

0.28

 

Sales/Net Working Capital

-

-

-

-

-

 

Gearing %

62

45.80

43.60

39.80

55

 

Equity in %

37.70

47.50

52.20

55.60

50.10

 

Creditor Days

-

-

-

-

-

 

Debtor Days

-

-

-

-

-

 

Liquidity/Acid Test

0.02

0.03

0.15

0.51

0.28

 

Return On Capital Employed %

-

-

-

-

-

 

Return On Total Assets Employed %

-

-

-

-

-

 

Current Debt Ratio

1.03

0.64

0.47

0.40

0.44

 

Total Debt Ratio

1.65

1.10

0.91

0.79

0.99

 

Stock Turnover Ratio %

-

-

-

-

-

 

Return on Net Assets Employed %

-

-

-

-

-

 

 

 

Status History

 

No Status History found



*Event History

 

Date

Description

 

09/05/2011

Annual Returns

 

13/04/2011

New Accounts Filed

 

08/05/2010

Annual Returns

 

05/05/2010

New Accounts Filed

 

12/08/2009

New Accounts Filed

 

12/08/2009

New Accounts Filed

 

23/07/2009

New Board Member Mr A.S. Milner appointed

 

27/05/2009

Annual Returns

 

14/08/2008

New Accounts Filed

 

10/06/2008

Annual Returns

 

10/09/2007

New Accounts Filed

 

17/02/2006

New Accounts Filed

 

24/05/2005

Change in Reg.Office

 

24/05/2005

Change of Company Postcode

 

18/02/2005

New Accounts Filed

 

 

 

Limit History

 

Date

Limit

08/04/2010

£10,000

12/08/2009

£1,000

23/07/2009

£0

26/05/2009

£3,500

07/03/2009

£3,500

19/02/2005

£25,000

 

Previous Company Names

 

Date

Previous Name

Companies House Documents

24/07/1998

CANSURE LIMITED

 

 

 

Group Structure Summary

 

Company Name

M TECHNOLOGIES LIMITED

Company Number

01591458

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

Companies in group

-

 

 

Group structure

 

No group structure

Bottom of Form

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.79

UK Pound

1

Rs.73.19

Euro

1

Rs.63.59

 

 

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.