MIRA INFORM REPORT

 

 

Report Date :

26.05.2011

 

IDENTIFICATION DETAILS

 

Name :

SAMUEL SIMPSON & CO LIMITED

 

 

Registered Office :

Unit 4, Albert Cl Trading Estate, Manchester, Lancashire, M45 8EH.

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

11.09.2000

 

 

Com. Reg. No.:

04069206

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Wholesalers of furnishing fabrics.

 

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 31,000

 

 

Status :

Small Company

 

 

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

 

Company Identification Details

 

Subject Reported on

SAMUEL SIMPSON & CO LIMITED

Registration Number

04069206

VAT Number

GB759385672

Address

UNIT 4, ALBERT CL TRADING ESTATE, MANCHESTER, LANCASHIRE, M45 8EH.

Telephone

0161 834 4920

 

Creditline Recommendations

 

Monthly Credit Guide

GBP 31,000

 

 

 

Official Company Data

 

 

Legal Form

Private Limited

Registration Number

04069206

VAT Number

GB759385672

Subject Status

Trading

Date of Incorporation

11/09/2000

Registered Office

GRIFFIN COURT 201 CHAPEL STREET, SALFORD, MANCHESTER, M3 5EQ.

History

6/03/2001 : Change of name from ADMIRAL MARKETING LIMITED.

 

1/03/2001 : The Registered Office address changed from GRIFFIN COURT, 201 CHAPEL STREET, SALFORD, MA.

 

7/12/2000 : The Registered Office address changed from 61 FAIRVIEW AVENUE, RAINHAM, GILLINGHAM, KENT.

Date of Last Annual Return to Registry

11/09/2010

Accounts

The last filed accounts at Companies House are those to 31/12/2010

Accounting Reference Date

31/12

 

 

 

Operations

 

 

Activities

Wholesalers of furnishing fabrics.

Nace Code

5212

Premises

Leased,Offices,Shop

Staff Employed

6

Import Countries

EUROPE

Export Countries

No Export Activity

Bankers

BARCLAYS BANK PLC

Address

MANCHESTER CITY OFFI.

Sort Code

205534

Auditors

Kay Johnson Gee

Branches

UNIT 4, ALBERT CL TRADING EST, WHITEFIELD MANCHESTER, LANCASHIRE, M45 8EH.

Subsidiaries

TOP DRAWER INTERIORS LIMITED

 

 

 

 

Previous Searches

 

Search History Summary

 

Last 3 Months

Last 6 Months

Last 12 Months

0

0

2

 

Search History Details

 

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

 

Date

Description

12/11/2010

Miscellaneous

29/06/2010

Wholesale of textiles

26/07/2009

Other credit granting

 

 

 

Public Record Information

 

 

Summary of CCJ's/Scottish Decrees

 

No CCJs/Scottish Decrees are recorded in our file.

 

 

 

Summary of Mortgages, Charges and Satisfactions

 

 

Total Number of Mortgages/Charges Registered

2

Number Outstanding

2

Number Partially Satisfied

0

Number Satisfied

0

 

 

Date of Latest Mortgage Created

16/06/2009

 

 

Details of most recent Mortgages, Charges and Satisfactions

 

 

Date Fully
Satisfied

Date
Registered

Date
Created

Charge
Description

Form Type

Lender

 

24/06/2009

16/06/2009

Fixed Floating Charge

395

Barclays Bank Plc

 

03/05/2003

23/04/2003

All Assets Debenture

395

Barclays Bank Plc

 

It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.

 

 

 

Other Filings and Notices

 

 

Date

Source

Description

 

07/12/2000

Companies House Gazette

Change among directors of a company

 

 

 

Company Secretary

 

 

Secretary

DEBRA MAY YORKE

Service Address

CROSS HALL HOUSE MATHER ROAD, BURY, LANCASHIRE, BL9 6RB.

Country of Origin

UNITED KINGDOM

Date of Birth

30/08/1961

Appointment Date

14/11/2000

Other Directorships

TOP DRAWER INTERIORS LIMITED

 

 

 

Directors

 

 

Director

DAVID YORKE

Service Address

CROSS HALL HOUSE MATHER ROAD, BURY, LANCASHIRE, BL9 6RB.

Country of Origin

UNITED KINGDOM

Date of Birth

20/09/1956

Appointment Date

14/11/2000

Other Directorships

BRITISH INTERIOR TEXTILES ASSOCIATION

 

 

 

 

 

Share Capital

 

 

Shares

Ordinary GBP 1.00

Issued Number

1,000

Principal Shareholder

750 David Yorke

 

250 Debra May Yorke

 

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

31/12/2010

31/12/2009

31/12/2008

31/12/2007

Currency

GBP

GBP

GBP

GBP

TOTAL FIXED ASSETS

77

105

43

56

Tangible Assets

24

32

14

13

Intangible Assets

53

73

29

43

TOTAL CURRENT ASSETS

1538

1399

1153

848

Trade debtors

677

594

787

596

Stocks

833

801

361

189

Other Current Assets

28

4

5

63

Cash

28

4

5

63

TOTAL ASSETS

1615

1504

1196

904

TOTAL CURRENT LIABILITIES

1115

1036

743

498

Trade creditors

1115

1036

743

498

WORKING CAPITAL

423

363

410

350

TOTAL LONG TERM LIABS

234

235

242

242

NET ASSETS/(LIABILITIES)

266

233

211

164

SHARE CAPITAL + RESERVES

266

233

211

164

Share Cap + Sundry Res

1

1

1

1

Profit and Loss account

265

232

210

163

SHAREHOLDERS FUNDS

266

233

211

164

CAPITAL EMPLOYED

500

468

453

406

 

Financial Comparison

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/12/2010

31/12/2009

31/12/2008

31/12/2007

Currency

GBP

GBP

GBP

GBP

Liquid Assets

705

598

792

659

Net Working Capital

423

363

410

350

Other Deferred Liabs

234

235

242

242

Tangible Net Worth(T.N.W)

213

160

182

121

Equity

266

233

211

164

Number of Years Trading

10

9

8

7

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

31/12/2010

31/12/2009

31/12/2008

31/12/2007

Current Ratio

1.4

1.4

1.6

1.7

Quick Ratio

0.6

0.6

1.1

1.3

T.N.W/Total Assets%

13.2

10.6

15.2

13.4

Equity Gearing%

19.7

18.3

21.4

22.2

 

 

 

Key Industry Sector Trends

 

 

Year

2011

2010

2009

2008

Sample Size

134

7101

9205

8880

Pre-Tax Profit Margin

1.3

2.7

1.8

2.9

Current Ratio

1.7

1.2

1.2

1.2

Borrowing Ratio

6.5

19.2

23.6

49

Return on Capital

37.9

46.9

54.1

67.7

Creditors Days

24

40

33

43

 

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Retail sale in non-specialised stores

 

 

 

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 5,600,000 and is a medium sized company as defined by the Companies Act. It is not required to disclose turnover but it is likely to be in the range of GBP 2,800,000 - GBP 11,200,000.

 

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 shown on the Balance Sheet is GBP 33,000 increase. This suggests that the Company may have made a post-tax profit of GBP 33,000.

 

Working Capital

The company's working capital has improved in the period by 17 %.

 

Net Worth

Net worth has increased by 14 % and now stands at GBP 266,000.

 

Fixed Assets

The subject's fixed assets reduced during the year by GBP 28,000 to GBP 77,000 and are now 4 % of total assets compared with 6 % in the previous year.

 

Long Term Liabilities

Long term liabilities are now 14 % of total liabilities compared with 16 % in the previous period.

 

Long Term Liabilities

Long term liabilities are 47 % of capital employed, a decrease of 3 % over the previous period.


 

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.