MIRA INFORM REPORT
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Report Date : |
03.11.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
JAMES H.HEAL AND CO. LTD. |
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Registered Office : |
Richmond Works, Lake View, Halifax, HX3 6EP |
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Country : |
United Kingdom |
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Financials (as on) : |
31.10.2010 |
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Date of Incorporation : |
09.07.1946 |
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Com. Reg. No.: |
00414668 |
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Legal Form : |
Private Parent Company |
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Line of Business : |
designer and manufacturer of quality-assured consumables and fabric and colour fastness testing instruments |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
James H.Heal And Co. Ltd.
Richmond Works
Lake View
Halifax, HX3 6EP
United Kingdom
Tel: 01422366355
Fax: 01422352440
Web: www.james-heal.co.uk
Synthesis
Employees: 83
Company Type: Private Parent
Corporate Family: 3
Companies
Quoted Status: Non-quoted Company
Incorporation Date:
09-Jul-1946
Auditor: Hw (Leeds) LLP
Financials in: USD
(Millions)
Fiscal Year End: 31-Oct-2010
Reporting Currency: British Pound
Sterling
Annual Sales: 12.1
1
Net Income: 0.5
Total Assets: 8.5
Business Description
Founded in 1872,
James H.Heal And Co. Ltd. is a designer and manufacturer of quality-assured
consumables and fabric and colour fastness testing instruments. The company
offers digital tear, drape, garment durability, pilling, snagging and abrasion
testers. It provides colour assessment cabinets, programmable automatic washing
machines, and manual and motorised crockmeters. The company also offers nickel detection
kits, sample cutters, tension meters and visual appearance testing aids. It
provides a range of after-sales, installation and engineering support
solutions. The company offers commissioning, maintenance and calibration
services. It also provides a range of technical and textile application support
solutions.
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 2469 - Other
Specialised Machinery and Equipment Manufacturing
NACE 2002: 2954 - Manufacture
of machinery for textile, apparel and leather production
NAICS 2002: 333292 - Textile
Machinery Manufacturing
UK SIC 2003: 2954 - Manufacture
of machinery for textile, apparel and leather production
US SIC 1987: 3552 - Textile
Machinery
Key Executives
Name Title
Elliot Ashley Rich Human
Resources Manager and Sales Director OneSource
Michael Minich Secretary Experian Ltd.
Janet Ingham IT Manager Corpdata
Elaine Taylor Senior Buyer Corpdata
Neil Andrew Pryke Director Experian Ltd.
Registered No.(UK): 00414668
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6435464
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6254691
Financial summary
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FYE: 31-Oct-2010 |
USD (mil) |
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Corporate Overview
Location
Richmond Works
Lake View
Halifax, HX3 6EP
West Yorkshire County
United Kingdom
Tel: 01422366355
Fax: 01422352440
Web: www.james-heal.co.uk
Sales GBP(mil): 7.8
Assets GBP(mil): 5.3
Employees: 83
Fiscal Year End: 31-Oct-2010
Industry: Miscellaneous
Capital Goods
Registered
Address:
Richmond Works
Lake View
Halifax, HX3 6EP
United Kingdom
Incorporation Date: 09-Jul-1946
Company Type: Private
Parent
Quoted Status: Not
Quoted
Registered No.(UK): 00414668
Director: Neil
Andrew Pryke
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2469 - Other Specialised Machinery and Equipment Manufacturing
NACE 2002 Codes:
2954 - Manufacture of machinery for textile, apparel and leather
production
NAICS 2002 Codes:
333292 - Textile Machinery Manufacturing
US SIC 1987:
3552 - Textile Machinery
UK SIC 2003:
2954 - Manufacture of machinery for textile, apparel and leather
production
Business
Description
Founded in 1872,
James H.Heal And Co. Ltd. is a designer and manufacturer of quality-assured
consumables and fabric and colour fastness testing instruments. The company
offers digital tear, drape, garment durability, pilling, snagging and abrasion
testers. It provides colour assessment cabinets, programmable automatic washing
machines, and manual and motorised crockmeters. The company also offers nickel
detection kits, sample cutters, tension meters and visual appearance testing
aids. It provides a range of after-sales, installation and engineering support
solutions. The company offers commissioning, maintenance and calibration
services. It also provides a range of technical and textile application support
solutions.
More Business
Descriptions
· James H. Heal and Co. Ltd. is a provider of fabric and colour fastness testing instruments. It provides various quality assured consumables, such as quality control aids, motorised crockmeters, drape testers, digital tear testers, flammability testers, w (Updated by OneSource Information Services)
· Calibration Equipment Services
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Corporate Family |
Corporate
Structure News: |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Halifax |
United Kingdom |
Miscellaneous Capital Goods |
12.1 |
83 |
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Subsidiary |
Halifax |
United Kingdom |
Miscellaneous Capital Goods |
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Subsidiary |
Halifax |
United Kingdom |
Miscellaneous Capital Goods |
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Executive report
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Board of Directors |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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Secretary |
Company Secretary |
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Human Resources Manager and Sales Director |
Human Resources Executive |
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Marketing Manager |
Marketing Executive |
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IT Manager |
Information Executive |
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Senior Buyer |
Merchandise Management Executive |
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Directors and Shareholders Report
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Main Office Address: |
Tel: 01422366355 |
Annual Return Date: 07 Jun 2011 |
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
21 Jul 1968 |
Richmond Works, Lake View, |
01 Nov 2006 |
NA |
Current:1 |
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Current |
26 Apr 1974 |
Richmond Works, Lake View, |
01 Nov 2006 |
NA |
Current:1 |
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Current |
06 Jan 1957 |
Richmond Works, Lake View, |
08 Sep 1989 |
NA |
Current:6 |
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Current |
25 Sep 1947 |
Richmond Works, Lake View, |
01 Oct 1974 |
NA |
Current:3 |
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Current |
29 Jan 1957 |
Richmond Works, Lake View, |
01 May 2011 |
NA |
Current:1 |
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Current |
03 Jun 1949 |
Richmond Works, Lake View, |
27 Apr 1992 |
NA |
Current:1 |
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Previous |
24 Jul 1968 |
C/O Optare Plc Lower Philips Road, Whitebirk Industrial
Estate, |
01 Nov 2006 |
17 Oct 2008 |
Current:2 |
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Previous |
15 May 1943 |
Westwood 20 Woodhall Lane, Stanningley, |
07 Jun 1992 |
31 Dec 1999 |
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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Current |
06 Jan 1957 |
Richmond Works, Lake View, |
31 Dec 1988 |
NA |
Current:6 |
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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 Michael Repper |
5000 Ordinary GBP 1.00 |
Ordinary |
5,000 |
1.00 |
5,000.00 |
24.52 |
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David Michael Repper |
3408 Ordinary GBP 1.00 |
Ordinary |
3,408 |
1.00 |
3,408.00 |
16.72 |
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Lynda Repper |
6980 Ordinary GBP 1.00 |
Ordinary |
6,980 |
1.00 |
6,980.00 |
34.24 |
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Lynda Repper |
5000 Ordinary GBP 1.00 |
Ordinary |
5,000 |
1.00 |
5,000.00 |
24.52 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
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Annual Profit & Loss
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
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31-Oct-2010 |
31-Oct-2009 |
31-Oct-2008 |
31-Oct-2007 |
31-Oct-2006 |
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Period Length |
53 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) |
0.643546 |
0.650218 |
0.516581 |
0.504347 |
0.553171 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Turnover |
12.1 |
10.2 |
- |
14.2 |
12.9 |
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Cost of Sales |
5.7 |
4.9 |
- |
7.2 |
6.9 |
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Gross Profit |
6.3 |
5.3 |
7.0 |
6.9 |
5.9 |
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Depreciation |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
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Other Expenses |
5.4 |
4.6 |
6.1 |
6.0 |
5.3 |
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Operating Profit |
0.9 |
0.7 |
0.9 |
0.9 |
- |
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Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.2 |
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Interest Paid |
0.0 |
0.1 |
0.1 |
0.1 |
0.1 |
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Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Profit Before Taxes |
0.9 |
0.6 |
0.8 |
0.9 |
0.7 |
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Tax Payable / Credit |
0.1 |
-0.1 |
0.2 |
0.2 |
0.2 |
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Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Dividends |
0.2 |
0.0 |
0.1 |
0.1 |
0.0 |
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Profit After Taxes |
0.5 |
0.6 |
0.5 |
0.6 |
0.6 |
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Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Number of Employees |
83 |
79 |
85 |
85 |
84 |
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Wages |
3.9 |
3.3 |
4.6 |
4.5 |
3.7 |
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Social Security Costs |
0.2 |
0.1 |
0.2 |
0.2 |
0.4 |
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Pensions |
- |
0.1 |
0.1 |
0.1 |
0.1 |
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Other Pension Costs |
0.1 |
0.2 |
0.2 |
0.2 |
0.2 |
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Employees Remuneration |
4.2 |
3.6 |
5.0 |
4.8 |
4.3 |
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Directors Emoluments |
- |
- |
0.8 |
0.8 |
0.4 |
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Other Costs |
- |
0.6 |
0.0 |
0.0 |
0.0 |
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Directors Remuneration |
0.7 |
0.7 |
0.9 |
0.9 |
0.5 |
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Highest Paid Director |
0.2 |
0.2 |
0.3 |
0.3 |
0.3 |
Annual Balance Sheet
Financials in: USD (mil)
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|
31-Oct-2010 |
31-Oct-2009 |
31-Oct-2008 |
31-Oct-2007 |
31-Oct-2006 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate |
0.625469 |
0.606667 |
0.618908 |
0.481383 |
0.524315 |
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Consolidated |
No |
No |
No |
No |
No |
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Land & Buildings |
1.3 |
1.2 |
1.2 |
1.6 |
0.4 |
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Fixtures & Fittings |
0.2 |
0.2 |
0.3 |
0.4 |
0.4 |
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Plant & Vehicles |
0.6 |
0.5 |
0.5 |
0.6 |
0.5 |
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Total Tangible Fixed Assets |
2.0 |
1.9 |
2.1 |
2.7 |
1.2 |
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Intangible Assets |
0.3 |
0.4 |
0.4 |
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 |
2.2 |
2.3 |
2.6 |
2.7 |
1.2 |
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Stocks |
2.9 |
2.6 |
3.1 |
4.0 |
3.3 |
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Work in Progress |
0.3 |
0.3 |
0.3 |
0.1 |
0.4 |
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Total Stocks Work In Progress |
3.2 |
2.9 |
3.5 |
4.1 |
3.6 |
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Trade Debtors |
1.2 |
2.3 |
2.0 |
1.9 |
1.2 |
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Other Debtors |
0.2 |
0.1 |
0.2 |
0.2 |
0.1 |
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Total Debtors |
1.4 |
2.4 |
2.2 |
2.1 |
1.3 |
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Cash and Equivalents |
1.5 |
0.4 |
0.1 |
0.1 |
0.2 |
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Other Current Assets |
0.2 |
0.1 |
0.5 |
0.2 |
0.0 |
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Total Current Assets |
6.3 |
5.8 |
6.3 |
6.6 |
5.1 |
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Total Assets |
8.5 |
8.1 |
8.8 |
9.3 |
6.3 |
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Trade Creditors |
2.0 |
1.7 |
2.3 |
2.6 |
2.5 |
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Bank Overdraft |
- |
- |
0.1 |
0.2 |
0.0 |
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Inter-Company Creditors |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
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Director Loans (Current Liability) |
0.2 |
0.1 |
0.0 |
0.0 |
- |
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Hire Purchase (Current Liability) |
0.1 |
0.1 |
0.2 |
0.2 |
0.2 |
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Finance Lease (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Finance Lease/Hire Purchase (Current Liability) |
0.1 |
0.1 |
0.2 |
0.2 |
0.2 |
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Total Short Term Loans |
- |
0.1 |
- |
- |
- |
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Accruals/Deferred Income (Current Liability) |
0.1 |
0.0 |
0.0 |
0.0 |
0.1 |
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Social Security/VAT |
0.2 |
0.2 |
0.2 |
0.3 |
0.3 |
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Corporation Tax |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
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Other Current Liabilities |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
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Total Current Liabilities |
2.8 |
2.5 |
3.1 |
3.6 |
3.2 |
|
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 |
|
Hire Purchase (Long Term Liability) |
0.1 |
0.2 |
0.3 |
0.5 |
0.3 |
|
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) |
0.1 |
0.2 |
0.3 |
0.5 |
0.3 |
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Other Long Term Loans |
0.0 |
0.3 |
0.4 |
0.0 |
0.0 |
|
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 |
|
Total Long Term Liabilities |
0.1 |
0.5 |
0.8 |
0.5 |
0.4 |
|
Deferred Taxation |
0.0 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Total Provisions |
0.0 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Issued Capital |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
1.0 |
1.1 |
1.1 |
1.4 |
0.2 |
|
Retained Earnings |
4.5 |
3.9 |
3.7 |
3.6 |
2.4 |
|
Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Shareholders Funds |
5.6 |
5.0 |
4.9 |
5.1 |
2.6 |
|
Net Worth |
5.4 |
4.6 |
4.4 |
5.1 |
2.6 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Oct-2010 |
31-Oct-2009 |
31-Oct-2008 |
31-Oct-2007 |
31-Oct-2006 |
|
Period Length |
53 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period
Average) |
0.643546 |
0.650218 |
0.516581 |
0.504347 |
0.553171 |
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Consolidated |
No |
No |
No |
No |
No |
|
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|
Net Cash Flow From Operating Activities |
2.3 |
0.8 |
0.6 |
0.2 |
0.9 |
|
Net Cash Flow from ROI and Servicing of Finance |
0.0 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Taxation |
-0.1 |
-0.1 |
-0.1 |
0.0 |
0.0 |
|
Capital Expenditures |
-0.3 |
0.0 |
-0.8 |
-0.4 |
-0.3 |
|
Acquisitions and Disposals |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Paid Up Equity |
-0.2 |
0.0 |
-0.1 |
-0.1 |
0.0 |
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Management of Liquid Resources |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Cash Flow From Financing |
-0.6 |
-0.3 |
0.6 |
0.1 |
0.1 |
|
Increase in Cash |
1.1 |
0.3 |
0.2 |
-0.2 |
0.7 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Oct-2010 |
31-Oct-2009 |
31-Oct-2008 |
31-Oct-2007 |
31-Oct-2006 |
|
Period Length |
53 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.625469 |
0.606667 |
0.618908 |
0.481383 |
0.524315 |
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Consolidated |
No |
No |
No |
No |
No |
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Current Ratio |
2.28 |
2.31 |
2.02 |
1.85 |
1.60 |
|
Liquidity Ratio |
1.11 |
1.14 |
0.91 |
0.68 |
0.47 |
|
Stock Turnover |
3.76 |
3.74 |
- |
3.58 |
3.75 |
|
Credit Period (Days) |
35.13 |
75.70 |
- |
46.44 |
32.37 |
|
Working Capital by Sales |
29.09% |
29.89% |
- |
20.36% |
14.10% |
|
Trade Credit by Debtors |
1.68 |
0.77 |
1.12 |
1.36 |
2.10 |
|
Return on Capital |
15.47% |
10.89% |
10.95% |
16.05% |
24.71% |
|
Return on Assets |
10.45% |
7.52% |
7.09% |
9.88% |
12.17% |
|
Profit Margin |
7.33% |
5.57% |
- |
6.16% |
5.69% |
|
Return on Shareholders Funds |
15.90% |
12.15% |
12.86% |
17.88% |
29.47% |
|
Borrowing Ratio |
7.91% |
19.81% |
26.06% |
18.68% |
22.97% |
|
Equity Gearing |
65.70% |
61.94% |
55.14% |
55.25% |
41.30% |
|
Debt Gearing |
2.03% |
11.41% |
17.53% |
9.74% |
13.54% |
|
Interest Coverage |
21.74 |
5.50 |
7.46 |
14.02 |
6.62 |
|
Sales by Tangible Assets |
6.18 |
5.67 |
- |
5.56 |
11.27 |
|
Average Remuneration per Employee |
0.1 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Profit per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sales per Employee |
0.1 |
0.1 |
- |
0.2 |
0.2 |
|
Capital Employed per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Tangible Assets per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Employee Remuneration by Sales |
35.15% |
35.53% |
- |
33.90% |
33.40% |
|
Creditor Days (Cost of Sales Based) |
123.66 |
120.88 |
- |
123.97 |
125.97 |
|
Creditor Days (Sales Based) |
58.95 |
58.21 |
- |
63.38 |
67.84 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.25 |
|
UK Pound |
1 |
Rs.78.73 |
|
Euro |
1 |
Rs.67.64 |
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.