MIRA INFORM REPORT

 

 

Report Date :           

26.05.2011

 

IDENTIFICATION DETAILS

 

Name :

RESEARCH DEVELOPMENTS LIMITED

 

 

Registered Office :

112-114 Witton Street, Northwich, Cheshire, Cw9 5nw.

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

30.06.2010

 

 

Date of Incorporation :

11.04.1995

 

 

Com. Reg. No.:

03044718

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of instruments and appliances for measuring, checking, testing and navigating

 

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 :

GBP 8,250

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 – 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

 

 Bottom of Form

Company Identification Details

 

Subject Reported on

RESEARCH DEVELOPMENTS LIMITED

Registration Number

03044718

VAT Number

GB616324166

Address

MOORFIELD HOUSE, PLUMLEY MOOR ROAD, PLUMLEY KNUTSFORD, CHESHIRE, WA16 9RS.

Telephone

01565 722609

 

 

Creditline Recommendations

 

Monthly Credit Guide

GBP 8,250

 

 

 

Payment Behaviour

 

( No Payment Analysis Data is Available )

 

 

 

Official Company Data

 

 

Legal Form

Private Limited

Registration Number

03044718

VAT Number

GB616324166

Subject Status

Trading

Date of Incorporation

11/04/1995

Registered Office

112-114 WITTON STREET, NORTHWICH, CHESHIRE, CW9 5NW.

History

2/09/2009 : The Registered Office address changed from MOORFIELD, PLUMLEY MOOR ROAD, KNUTSFORD, CHES.

 

25/05/1995 : The Registered Office address changed from C/O NATIONWIDE COMPANY SERVICES, SOMERSET HOU.

Date of Last Annual Return to Registry

31/03/2011

Accounts

The last filed accounts at Companies House are those to 30/06/2010

Accounting Reference Date

30/06

 

 

 

Operations

 

 

Activities

Manufacture of instruments and appliances for measuring, checking, testing and navigating

Nace Code

2943

Premises

Rented,Offices,Workshop

Trade Names

MOORFIELD ASSOCIATES

Bankers

BANK OF SCOTLAND

Auditors

Burton Beavan

 

 

 

Historical Rating

 

 

Date

Monthly Credit Guide

25/05/2011

8,250

25/02/2011

4,800

25/11/2010

5,100

25/08/2010

5,250

25/05/2010

7,950

 

 

 

Previous Searches

 

Search History Summary

 

Last 3 Months

Last 6 Months

Last 12 Months

0

1

1

 

Search History Details

 

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

 

Date

Description

28/12/2010

Miscellaneous

03/11/2005

Financial leasing

 

 

 

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

 

25/05/1995

Companies House Gazette

Alteration in memorandum or articles of association

25/05/1995

Companies House Gazette

Change among directors of a company

23/05/1995

Companies House Gazette

Change among directors of a company

 

 

 

 

 

Company Secretary

 

 

Secretary

JONATHAN STEWART WHITEHEAD

Service Address

MOORFIELD PLUMLEY MOOR ROAD, PLUMLEY, KNUTSFORD, CHESHIRE, WA16 9RS.

Country of Origin

UNITED KINGDOM

Date of Birth

06/02/1957

Appointment Date

18/05/1995

 

 

 

Directors

 

 

Director

JONATHAN STEWART WHITEHEAD

Service Address

MOORFIELD PLUMLEY MOOR ROAD, PLUMLEY, KNUTSFORD, CHESHIRE, WA16 9RS.

Country of Origin

UNITED KINGDOM

Date of Birth

06/02/1957

Appointment Date

18/05/1995


Director


VIVIENNE KAREN WHITEHEAD

Service Address

MOORFIELD PLUMLEY MOOR ROAD, PLUMLEY, KNUTSFORD, CHESHIRE, WA16 9RS.

Country of Origin

UNITED KINGDOM

Date of Birth

02/04/1959

Appointment Date

18/05/1995

 

 

 

Share Capital

 

 

Shares

Ordinary GBP 1.00

Issued Number

2

Principal Shareholder

1 J.S. Whitehead

 

1 V.K. Whitehead

 

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

 

 

 

 

 

General Information

 

 

18/01/2011 

 

The business does not employ any staff on a PAYE basis. 

 

 

 

 

 

 

Financial Data– Statutory Accounts

 

 

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

 

 

 

 

Balance Sheet

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

30/06/2010

30/06/2009

30/06/2008

30/06/2007

Currency

GBP

GBP

GBP

GBP

TOTAL FIXED ASSETS

3

5

8

11

Tangible Assets

3

5

8

11

TOTAL CURRENT ASSETS

286

243

358

303

Trade debtors

60

86

146

132

Stocks

21

15

12

11

Other Current Assets

205

142

200

160

Cash

205

142

200

160

TOTAL ASSETS

289

248

366

314

TOTAL CURRENT LIABILITIES

247

199

260

205

Trade creditors

247

199

260

205

WORKING CAPITAL

39

44

98

98

NET ASSETS/(LIABILITIES)

42

49

106

109

SHARE CAPITAL + RESERVES

42

49

106

109

Profit and Loss account

42

49

106

109

SHAREHOLDERS FUNDS

42

49

106

109

CAPITAL EMPLOYED

42

49

106

109

 

 

Financial Comparison

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

30/06/2010

30/06/2009

30/06/2008

30/06/2007

Currency

GBP

GBP

GBP

GBP

Liquid Assets

265

228

346

292

Net Working Capital

39

44

98

98

Tangible Net Worth(T.N.W)

42

49

106

109

Equity

42

49

106

109

Number of Years Trading

15

14

13

12

 

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

30/06/2010

30/06/2009

30/06/2008

30/06/2007

Current Ratio

1.2

1.2

1.4

1.5

Quick Ratio

1.1

1.1

1.3

1.4

T.N.W/Total Assets%

14.5

19.8

29

34.7

Equity Gearing%

17

24.6

40.8

53.2

 

 

 

 

 

Key Industry Sector Trends

 

 

Year

2010

2009

2008

2007

Sample Size

1044

1434

1429

1410

Pre-Tax Profit Margin

6.1

(2.4)

6.6

7.4

Current Ratio

1.9

1.9

1.8

1.8

Borrowing Ratio

59.3

46.1

64.6

31.2

Return on Capital

29.7

25.2

41.1

37.7

Creditors Days

49

64

56

110

 

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Manufacture of machine tools

 

 

 

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 7,000 decrease. This suggests that the Company may have made a post-tax loss of GBP 7,000.

 

Working Capital

The subject's working capital decreased by 11 % in the period but remains positive.

 

Fixed Assets

The subject's fixed assets reduced during the year by GBP 2,000 to GBP 3,000 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.45.38

UK Pound

1

Rs.73.31

Euro

1

Rs.63.70

 

 

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.