%20%20-%20143399%2027-May-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
27.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
VAPORMATIC COMPANY LIMITED(THE) |
|
|
|
|
Registered Office : |
P O Box 58 Kestrel Way Sowton Estate EX2 7NB |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.10.2010 |
|
|
|
|
Date of Incorporation : |
29.09.1954 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Manufacture of other agricultural & forestry machinery |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
£ 155,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
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 |
Summary
|
Company Name |
VAPORMATIC COMPANY LIMITED(THE) |
Company Number |
00538655 |
|
Registered Address |
P O BOX 58 |
Trading Address |
P O Box 58 |
|
|
KESTREL WAY |
|
|
|
|
SOWTON ESTATE |
|
|
|
|
EX2 7NB |
|
|
|
|
|
|
|
|
Website Address |
- |
|
|
|
Telephone Number |
01392435461 |
Fax Number |
|
|
TPS |
No |
FPS |
No |
|
Incorporation Date |
29/09/1954 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
|
Type |
Private limited with Share Capital |
|
|
|
Filing Date of Accounts |
14/12/2010 |
|
Date of Change |
- |
Share Capital |
£3,020,000 |
|
Sic Code |
2932 |
Currency |
GBP |
|
Sic Description |
MANUFACTURE OF OTHER AGRICULTURAL & FORESTRY MACHINERY |
||
|
Principal Activity |
Marketing and distribution of tractor parts, hydraulic components and
systems, power take off operated and a wide range of accessories for the
agricultural and related industries. |
||
Credit Rating & Limit
|
Todays Limit |
£155,000 |
|
|
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
31/10/2010 |
£20,994,000 |
£239,000 |
£2,459,000 |
115 |
|
31/10/2009 |
£19,772,000 |
£122,000 |
£2,288,000 |
115 |
|
31/10/2008 |
£18,346,000 |
-£342,000 |
£2,236,000 |
106 |
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 |
0 |
|
|
Satisfied |
2 |
|
|
|
|
|
|
|
Total Current Directors |
2 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
21 |
Current Directors
|
Name |
Peter Anthony Brennan |
Date of Birth |
29/07/1964 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
16/07/2004 |
|
|
|
Address |
Clifford House, Lambert View, Crockernwell, EX6 6NA |
|
|
|
|
|
|
|
|
Name |
Gail Leese |
Date of Birth |
06/02/1956 |
|
Officers Title |
Ms |
Nationality |
American |
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
14/09/2007 |
|
|
|
Address |
28 Timber Ridge Drive, , Coal Valley, |
|
|
|
|
|
|
|
Current Company Secretary
|
Name |
Robert Michael Gilkes |
Date of Birth |
05/05/1962 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
1 |
Function |
Company Secretary |
|
Appointment Date |
28/03/2002 |
|
|
|
Address |
Bramber, Salty Lane, Shaldon, TQ14 0AP |
|
|
|
|
|
|
|
Top 20 Shareholders
|
Individual Share Value |
|
|
|
JOHN DEERE LIMITED |
3,000,000 ORDINARY A GBP 1.00 |
|
|
JOHN DEERE LIMITED |
14,000 ORDINARY B GBP 1.00 |
|
|
JOHN DEERE LIMITED |
6,000 ORDINARY A GBP 1.00 |
|
|
|
|
|
|
|
|
|
||
Profit & Loss
|
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 |
£20,994,000 |
6.2% |
£19,772,000 |
7.8% |
£18,346,000 |
10.5% |
£16,602,000 |
12.7% |
£14,734,000 |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
£15,093,000 |
- |
£14,291,000 |
- |
£13,182,000 |
9.9% |
£11,995,000 |
14.4% |
£10,488,000 |
|
Gross Profit |
£5,901,000 |
7.7% |
£5,481,000 |
6.1% |
£5,164,000 |
12.1% |
£4,607,000 |
8.5% |
£4,246,000 |
|
Wages & Salaries |
£3,464,000 |
3.5% |
£3,347,000 |
4.7% |
£3,197,000 |
12.5% |
£2,842,000 |
-3.2% |
£2,937,000 |
|
Directors Emoluments |
£147,000 |
-21% |
£186,000 |
7.5% |
£173,000 |
4.2% |
£166,000 |
15.3% |
£144,000 |
|
Operating Profit |
£338,000 |
-6.9% |
£363,000 |
212.9% |
£116,000 |
13.7% |
£102,000 |
151.8% |
-£197,000 |
|
Depreciation |
£177,000 |
7.9% |
£164,000 |
46.4% |
£112,000 |
- |
- |
-100% |
£61,000 |
|
Audit Fees |
£33,000 |
-2.9% |
£34,000 |
3% |
£33,000 |
3.1% |
£32,000 |
- |
£32,000 |
|
Interest Payments |
£99,000 |
-58.9% |
£241,000 |
-47.4% |
£458,000 |
15.7% |
£396,000 |
15.8% |
£342,000 |
|
Pre Tax Profit |
£239,000 |
95.9% |
£122,000 |
135.7% |
-£342,000 |
-999.9% |
-£10,000 |
94.8% |
-£194,000 |
|
Taxation |
-£68,000 |
2.9% |
-£70,000 |
-262.8% |
£43,000 |
193.5% |
-£46,000 |
-119% |
£242,000 |
|
Profit After Tax |
£171,000 |
228.8% |
£52,000 |
117.4% |
-£299,000 |
-433.9% |
-£56,000 |
-216.7% |
£48,000 |
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained Profit |
£171,000 |
228.8% |
£52,000 |
117.4% |
-£299,000 |
-433.9% |
-£56,000 |
-216.7% |
£48,000 |
Balance
Sheet
|
Date Of Accounts |
31/10/10 |
(%) |
31/10/09 |
(%) |
31/10/08 |
(%) |
31/10/07 |
(%) |
31/10/06 |
|
Tangible Assets |
£3,843,000 |
4.9% |
£3,664,000 |
2.6% |
£3,572,000 |
6.4% |
£3,356,000 |
0.8% |
£3,329,000 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed
Assets |
£3,843,000 |
4.9% |
£3,664,000 |
2.6% |
£3,572,000 |
6.4% |
£3,356,000 |
0.8% |
£3,329,000 |
|
Stock |
£6,283,000 |
7.1% |
£5,867,000 |
14.7% |
£5,114,000 |
16.7% |
£4,384,000 |
7.7% |
£4,070,000 |
|
Trade Debtors |
£2,293,000 |
5.3% |
£2,178,000 |
3.4% |
£2,107,000 |
6.3% |
£1,982,000 |
8.7% |
£1,823,000 |
|
Cash |
£255,000 |
- |
£255,000 |
347.4% |
£57,000 |
-80.8% |
£297,000 |
356.9% |
£65,000 |
|
Other Debtors |
£1,328,000 |
2.5% |
£1,295,000 |
-23.9% |
£1,701,000 |
-0.9% |
£1,716,000 |
1.6% |
£1,689,000 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current
Assets |
£10,159,000 |
5.9% |
£9,595,000 |
6.9% |
£8,979,000 |
7.2% |
£8,379,000 |
9.6% |
£7,647,000 |
|
Trade Creditors |
£1,944,000 |
25.1% |
£1,554,000 |
-4.1% |
£1,620,000 |
-14.5% |
£1,895,000 |
11.7% |
£1,696,000 |
|
Bank Loans & Overdrafts |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Finance |
£406,000 |
-87.4% |
£3,217,000 |
28% |
£2,514,000 |
71.8% |
£1,463,000 |
28.9% |
£1,135,000 |
|
Miscellaneous Current Liabilities |
£932,000 |
15.6% |
£806,000 |
-17.8% |
£980,000 |
1.1% |
£969,000 |
-0.5% |
£974,000 |
|
Total Current
Liabilities |
£3,282,000 |
-41.2% |
£5,577,000 |
9.1% |
£5,114,000 |
18.2% |
£4,327,000 |
13.7% |
£3,805,000 |
|
Bank Loans & Overdrafts and LTL |
£8,261,000 |
53.2% |
£5,394,000 |
3.7% |
£5,201,000 |
6.7% |
£4,873,000 |
6.4% |
£4,580,000 |
|
Other Long Term Finance |
£8,175,000 |
51.6% |
£5,394,000 |
3.7% |
£5,201,000 |
6.7% |
£4,873,000 |
6.4% |
£4,580,000 |
|
Total Long Term
Liabilities |
£8,261,000 |
53.2% |
£5,394,000 |
3.7% |
£5,201,000 |
6.7% |
£4,873,000 |
6.4% |
£4,580,000 |
Capital & Reserves
|
Date Of Accounts |
31/10/10 |
(%) |
31/10/09 |
(%) |
31/10/08 |
(%) |
31/10/07 |
(%) |
31/10/06 |
|
Called Up Share Capital |
£3,020,000 |
- |
£3,020,000 |
- |
£3,020,000 |
- |
£3,020,000 |
- |
£3,020,000 |
|
P & L Account Reserve |
-£905,000 |
16% |
-£1,078,000 |
4.8% |
-£1,132,000 |
-35.6% |
-£835,000 |
-6.9% |
-£781,000 |
|
Revaluation Reserve |
£251,000 |
-0.8% |
£253,000 |
-0.8% |
£255,000 |
-0.8% |
£257,000 |
-0.8% |
£259,000 |
|
Sundry Reserves |
£93,000 |
- |
£93,000 |
- |
£93,000 |
- |
£93,000 |
- |
£93,000 |
|
Shareholder
Funds |
£2,459,000 |
7.5% |
£2,288,000 |
2.3% |
£2,236,000 |
-11.8% |
£2,535,000 |
-2.2% |
£2,591,000 |
Other Financial Items
|
31/10/10 |
(%) |
31/10/09 |
(%) |
31/10/08 |
(%) |
31/10/07 |
(%) |
31/10/06 |
|
|
Net Worth |
£2,459,000 |
7.5% |
£2,288,000 |
2.3% |
£2,236,000 |
-11.8% |
£2,535,000 |
-2.2% |
£2,591,000 |
|
Working Capital |
£6,877,000 |
71.2% |
£4,018,000 |
4% |
£3,865,000 |
-4.6% |
£4,052,000 |
5.5% |
£3,842,000 |
|
Total Assets |
£14,002,000 |
5.6% |
£13,259,000 |
5.6% |
£12,551,000 |
7% |
£11,735,000 |
6.9% |
£10,976,000 |
|
Total
Liabilities |
£11,543,000 |
5.2% |
£10,971,000 |
6.4% |
£10,315,000 |
12.1% |
£9,200,000 |
9.7% |
£8,385,000 |
|
Net Assets |
£2,459,000 |
7.5% |
£2,288,000 |
2.3% |
£2,236,000 |
-11.8% |
£2,535,000 |
-2.2% |
£2,591,000 |
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
|
31/10/10 |
(%) |
31/10/09 |
(%) |
31/10/08 |
(%) |
31/10/07 |
(%) |
31/10/06 |
|
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£10,720,000 |
39.5% |
£7,682,000 |
3.3% |
£7,437,000 |
0.4% |
£7,408,000 |
3.3% |
£7,171,000 |
|
Number of Employees |
115 |
- |
115 |
8.5% |
106 |
7.1% |
99 |
-2.9% |
102 |
|
Auditors |
DELOITTE LLP |
||||||||
|
Auditor Comments |
The audit report contains no adverse comments |
||||||||
|
Bankers |
BARCLAYS BANK PLC |
||||||||
|
Bank Branch Code |
20-30-19 |
||||||||
Ratios
|
31/10/10 |
31/10/09 |
31/10/08 |
31/10/07 |
31/10/06 |
||||
|
Pre-tax profit margin % |
1.14 |
0.62 |
-1.86 |
-0.06 |
-1.32 |
|||
|
Current ratio |
3.10 |
1.72 |
1.76 |
1.94 |
2.01 |
|||
|
Sales/Net Working Capital |
3.05 |
4.92 |
4.75 |
4.10 |
3.83 |
|||
|
Gearing % |
335.90 |
235.80 |
232.60 |
192.20 |
176.80 |
|||
|
Equity in % |
17.60 |
17.30 |
17.80 |
21.60 |
23.60 |
|||
|
Creditor Days |
33.70 |
28.60 |
32.14 |
41.55 |
41.90 |
|||
|
Debtor Days |
39.75 |
40.09 |
41.80 |
43.46 |
45.04 |
|||
|
Liquidity/Acid Test |
1.18 |
0.66 |
0.75 |
0.92 |
0.94 |
|||
|
Return On Capital Employed % |
2.22 |
1.58 |
-4.59 |
-0.13 |
-2.71 |
|||
|
Return On Total Assets Employed % |
1.70 |
0.92 |
-2.72 |
-0.08 |
-1.76 |
|||
|
Current Debt Ratio |
1.33 |
2.43 |
2.28 |
1.70 |
1.46 |
|||
|
Total Debt Ratio |
4.69 |
4.79 |
4.61 |
3.62 |
3.23 |
|||
|
Stock Turnover Ratio % |
29.92 |
29.67 |
27.87 |
26.41 |
27.62 |
|||
|
Return on Net Assets Employed % |
9.71 |
5.33 |
-15.29 |
-0.39 |
-7.49 |
|||
|
|
|
|
|||||||
|
|
|
||||||||
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
|
18/12/2010 |
New Accounts Filed |
|
|
09/08/2010 |
Annual Returns |
|
|
19/07/2010 |
New Accounts Filed |
|
|
19/07/2010 |
New Accounts Filed |
|
|
07/08/2009 |
Annual Returns |
|
|
12/06/2009 |
New Accounts Filed |
|
|
02/09/2008 |
New Accounts Filed |
|
|
01/08/2008 |
Annual Returns |
|
|
21/09/2007 |
DIETER HECHT has left the board |
|
|
10/09/2007 |
New Accounts Filed |
|
|
30/06/2006 |
New Accounts Filed |
|
|
16/11/2005 |
New Accounts Filed |
|
|
20/07/2005 |
New Accounts Filed |
|
|
08/02/2005 |
New Accounts Filed |
|
|
09/11/2004 |
Annual Returns |
|
Limit History
|
Date |
Limit |
|
17/12/2010 |
£155,000 |
|
19/07/2010 |
£150,000 |
|
19/08/2009 |
£125,000 |
|
12/06/2009 |
£120,000 |
|
10/06/2009 |
£115,000 |
|
20/02/2009 |
£210,000 |
|
10/09/2007 |
£0 |
|
30/06/2006 |
£0 |
|
20/07/2005 |
£0 |
Previous Company Names
|
No Previous Names found |
|
|
|
|
Group Structure Summary
|
Company Name |
VAPORMATIC COMPANY LIMITED(THE) |
Company Number |
00538655 |
|
Holding Company |
JOHN DEERE LIMITED |
Ownership Status |
Wholly Owned |
|
Ultimate Holding Company |
DEERE & COMPANY |
Companies in group |
7 |
Group structure
|
Company Name |
|
Safe Number |
Registered Number |
Latest Key Financials |
Consol. Accounts |
Limit |
Turnover |
|
|
|
|
|
- |
- |
- |
|
|
|
|
UK07136929 |
SC028492 |
31.10.2010 |
N |
£3,150,000 |
£394,844,000 |
|
|
|
UK00220630 |
00538655 |
31.10.2010 |
N |
£155,000 |
£20,994,000 |
|
|
|
IE00014373 |
IE020235 |
01.11.2009 |
N |
€80,000 |
|
|
|
|
|
|
- |
- |
- |
|
|
|
|
IE00099914 |
IE105782 |
31.10.2009 |
N |
€100,000 |
€6,120,301 |
|
|
|
UK01882715 |
02218900 |
31.10.2010 |
N |
£120,000 |
£21,593,524 |
%20%20-%20143399%2027-May-2011_files/image004.gif){kind=small}
%20%20-%20143399%2027-May-2011_files/image005.gif){kind=small}
DEERE
& COMPANY %20%20-%20143399%2027-May-2011_files/image007.gif){kind=small}
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THE
VAPORMATIC COMPANY (...
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.29 |
|
|
1 |
Rs.73.84 |
|
Euro |
1 |
Rs.64.18 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.