MIRA
INFORM REPORT
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Report Date : |
25.11.2011 |
IDENTIFICATION DETAILS
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Name : |
CERTIKIN INTERNATIONAL LTD. |
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Registered Office : |
Witan Park Avenue 2 Station Lane Ind Est Witney, OX28 4FJ |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
19.04.1995 |
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Com. Reg. No.: |
03047290 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Other Miscellaneous Durable Goods Merchant Wholesalers |
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No. of Employees : |
101 |
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 Complaint |
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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 30, 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 and address
Certikin International Ltd.
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Business
Description
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Certikin International Ltd. in Whitney, Oxfordshire, is one of
Britain's largest manufacturers and distributors of swimming pool equipment.
The stock range exceeds 3,000 products from private label manufactured white goods,
such as skimmers, to chemical dosing systems and commercial indoor pool
environmental controls. The company was one of the original pioneers of
swimming pool equipment manufactured in the United Kingdom. Spares are
available for most of the Certikin manufactured items produced during the
last 40 years. Its range of products and expertise are also available outside
of the UK via Certikin Export. The company is involved with the leisure
markets of Europe, Africa, Asia and the Middle East. Certikin North
specialises in the manufacture of liners and covers for swimming pools. |
Industry
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Industry |
Miscellaneous Capital Goods |
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ANZSIC 2006: |
3739 - Other Goods Wholesaling Not
Elsewhere Classified |
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NACE 2002: |
5190 - Other wholesale |
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NAICS 2002: |
423990 - Other Miscellaneous Durable Goods
Merchant Wholesalers |
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UK SIC 2003: |
5190 - Other wholesale |
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US SIC 1987: |
5099 - Durable Goods, Not Elsewhere
Classified |
Key Executives
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Financial
Summary
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1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.6475734
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6387123
Corporate Overview
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Corporate Structure News
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Certikin
International Ltd. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Swimco Corp Sl |
Parent |
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Subsidiary |
Witney |
United Kingdom |
Miscellaneous Capital Goods |
40.9 |
101 |
Executives Report
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* Branch executive, office location is different from company profile |
Directors and Shareholders Report
Annual Return Date: 19 Apr 2011
Total Issued Capital (GBP 000): 1,007
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
03 Aug 1958 |
15 Roman Way, |
27 Sep 1995 |
NA |
Current:1 |
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|
|
Current |
06 Oct 1959 |
C/ Valencia 212 40 2A, |
01 Jan 2009 |
NA |
Current:1 |
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|
|
Current |
15 Apr 1949 |
Broadgate, Henfield Common North, |
01 May 1995 |
NA |
Current:7 |
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|
|
Current |
24 Mar 1969 |
Sant Luis 12, Sant Cugat Del Valles, |
01 Sep 2003 |
NA |
Current:3 |
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|
Previous |
30 Jan 1952 |
Wyndham House, Llandogo, |
16 Nov 1998 |
01 Sep 2003 |
Current:3 |
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|
Previous |
30 Oct 1961 |
13 Saint Marks Road, |
18 Jul 2005 |
31 Dec 2006 |
Current:0 |
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|
Previous |
27 Aug 1953 |
5 Upper Belgrave Road, Clifton, |
04 May 1995 |
30 Sep 2001 |
Current:4 |
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|
Previous |
04 Dec 1953 |
Sylva, Glasllwch Lane, |
26 Apr 1995 |
04 May 1995 |
Current:3 |
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|
Previous |
13 Jan 1928 |
16 Charlemont House, Rochestown Road, |
01 May 1995 |
01 Sep 2003 |
Current:18 |
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|
Previous |
31 Mar 1943 |
The Retreat Pwllmelin Road, Llandaff, |
13 Mar 1998 |
04 Dec 2000 |
Current:2 |
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|
Previous |
NA |
C/Baroatxuri 26, Mungia, |
01 Mar 2007 |
31 Dec 2008 |
Current:0 |
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Previous |
NA |
C/Zabaloetxe 77, Loiu Vizcaya, |
01 Mar 2007 |
31 Dec 2008 |
Current:0 |
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Previous |
24 Oct 1947 |
Avda Bartomeu 35, Bellaterra Cerdanyola Del Valles, |
10 Oct 2003 |
18 Jul 2005 |
Current:0 |
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Previous |
12 Oct 1963 |
C-Cervera 6, |
01 Sep 2003 |
01 Mar 2007 |
Current:0 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
|
Severnside Nominees Limited |
Previous |
14-18 City Road, |
19 Apr 1995 |
26 Apr 1995 |
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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 |
24 Mar 1969 |
Sant Luis 12, Sant Cugat Del Valles, |
01 Sep 2003 |
NA |
Current:3 |
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|
Previous |
04 Dec 1953 |
Sylva, Glasllwch Lane, |
26 Apr 1995 |
06 Feb 1998 |
Current:3 |
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Previous |
27 Aug 1960 |
Freshfield Lane Danehill, |
13 Mar 1997 |
01 Sep 2003 |
Current:2 |
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Previous |
31 Mar 1943 |
The Retreat Pwllmelin Road, Llandaff, |
06 Feb 1998 |
13 Mar 1998 |
Current:2 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Severnside Secretarial Limited |
Previous |
14-18 City Road, |
19 Apr 1995 |
26 Apr 1995 |
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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 |
|
Swimco Corp SL |
1007254 Ordinary GBP 1.00 |
Ordinary |
1,007,254 |
1.00 |
1,007,254.00 |
100.00 |
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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
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Financials in: USD (mil) |
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Except for share items (millions) and per share
items (actual units) |
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.647573 |
0.641508 |
0.545576 |
0.499878 |
0.543438 |
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Consolidated |
No |
No |
No |
No |
No |
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Turnover (UK) |
32.4 |
32.0 |
40.6 |
45.6 |
36.6 |
|
Turnover (Exports) |
8.5 |
7.7 |
10.3 |
9.3 |
8.3 |
|
Total Turnover |
40.9 |
39.7 |
50.9 |
54.9 |
44.9 |
|
Cost of Sales |
30.2 |
29.2 |
38.0 |
40.1 |
32.5 |
|
Gross Profit |
10.7 |
10.4 |
12.8 |
14.8 |
12.4 |
|
Depreciation |
0.4 |
0.4 |
0.5 |
0.5 |
0.5 |
|
Other Expenses |
8.3 |
8.6 |
10.2 |
11.2 |
9.3 |
|
Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.5 |
|
Interest Paid |
0.1 |
0.1 |
0.2 |
0.3 |
0.3 |
|
Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit Before Taxes |
2.3 |
1.8 |
2.4 |
3.3 |
3.3 |
|
Tax Payable / Credit |
0.7 |
0.5 |
0.7 |
1.1 |
0.8 |
|
Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends |
0.7 |
0.7 |
4.3 |
1.4 |
3.4 |
|
Profit After Taxes |
0.9 |
0.5 |
-2.7 |
0.9 |
-0.9 |
|
Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Non Audit Fees |
- |
- |
0.0 |
0.0 |
0.0 |
|
Number of Employees |
101 |
101 |
117 |
114 |
112 |
|
Wages |
4.1 |
4.1 |
5.2 |
5.9 |
4.8 |
|
Social Security Costs |
0.4 |
0.4 |
0.5 |
0.6 |
0.5 |
|
Other Pension Costs |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Employees Remuneration |
4.8 |
4.7 |
5.9 |
6.7 |
5.5 |
|
Directors Remuneration |
0.4 |
0.3 |
0.2 |
0.3 |
0.2 |
|
Highest Paid Director |
0.3 |
- |
- |
- |
0.2 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.638712 |
0.619253 |
0.695531 |
0.502361 |
0.510947 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Land & Buildings |
0.4 |
0.5 |
0.5 |
0.5 |
0.6 |
|
Fixtures & Fittings |
0.1 |
0.1 |
0.1 |
0.2 |
0.2 |
|
Plant & Vehicles |
0.7 |
0.8 |
0.8 |
1.3 |
1.4 |
|
Total Tangible Fixed Assets |
1.2 |
1.4 |
1.4 |
2.0 |
2.2 |
|
Intangible Assets |
0.2 |
0.3 |
0.3 |
0.4 |
0.3 |
|
Investments |
0.0 |
0.0 |
0.0 |
4.1 |
4.0 |
|
Total Fixed Assets |
1.4 |
1.7 |
1.8 |
6.5 |
6.5 |
|
Stocks |
6.1 |
5.7 |
5.8 |
7.7 |
6.8 |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Stocks Work In Progress |
6.1 |
5.7 |
5.8 |
7.7 |
6.8 |
|
Trade Debtors |
7.0 |
8.3 |
7.8 |
8.9 |
8.5 |
|
Inter-Company Debtors |
1.7 |
0.3 |
0.2 |
0.1 |
0.5 |
|
Director Loans |
- |
- |
- |
0.0 |
- |
|
Other Debtors |
0.5 |
0.6 |
0.5 |
0.6 |
0.6 |
|
Total Debtors |
9.2 |
9.3 |
8.5 |
9.6 |
9.6 |
|
Cash and Equivalents |
2.0 |
1.6 |
0.0 |
0.1 |
1.3 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
17.3 |
16.7 |
14.2 |
17.4 |
17.7 |
|
Total Assets |
18.8 |
18.3 |
16.0 |
23.9 |
24.2 |
|
Trade Creditors |
3.9 |
4.1 |
3.6 |
4.9 |
4.6 |
|
Bank Overdraft |
3.9 |
4.5 |
3.1 |
2.3 |
3.0 |
|
Inter-Company Creditors |
0.9 |
0.7 |
1.5 |
2.0 |
2.9 |
|
Director Loans (Current Liability) |
0.0 |
0.0 |
- |
- |
0.0 |
|
Total Finance Lease/Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Total Short Term Loans |
0.0 |
0.0 |
0.2 |
0.4 |
0.7 |
|
Accruals/Deferred Income (Current Liability) |
1.0 |
0.9 |
0.6 |
1.3 |
0.8 |
|
Social Security/VAT |
0.5 |
0.5 |
0.4 |
0.7 |
0.5 |
|
Corporation Tax |
0.4 |
0.3 |
0.4 |
0.5 |
0.4 |
|
Dividends (Current Liability) |
0.0 |
0.0 |
- |
- |
0.0 |
|
Other Current Liabilities |
0.0 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Total Current Liabilities |
10.7 |
11.0 |
10.0 |
12.3 |
13.0 |
|
Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.3 |
1.0 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.4 |
1.0 |
|
Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issued Capital |
1.6 |
1.6 |
1.4 |
2.0 |
2.0 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
6.5 |
5.7 |
4.6 |
9.2 |
8.2 |
|
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 |
8.0 |
7.3 |
6.0 |
11.2 |
10.2 |
|
Net Worth |
7.8 |
7.0 |
5.7 |
10.8 |
9.8 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.647573 |
0.641508 |
0.545576 |
0.499878 |
0.543438 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.638712 |
0.619253 |
0.695531 |
0.502361 |
0.510947 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.62 |
1.51 |
1.43 |
1.41 |
1.36 |
|
Liquidity Ratio |
1.05 |
0.99 |
0.85 |
0.79 |
0.83 |
|
Stock Turnover |
6.78 |
7.15 |
6.93 |
7.12 |
7.01 |
|
Credit Period (Days) |
61.55 |
73.87 |
71.20 |
59.73 |
65.19 |
|
Working Capital by Sales |
15.94% |
13.79% |
10.74% |
9.34% |
9.78% |
|
Trade Credit by Debtors |
0.56 |
0.50 |
0.47 |
0.55 |
0.54 |
|
Return on Capital |
29.30% |
24.94% |
31.27% |
28.67% |
31.74% |
|
Return on Assets |
12.58% |
9.97% |
11.81% |
13.88% |
14.66% |
|
Profit Margin |
5.69% |
4.45% |
4.74% |
6.08% |
7.42% |
|
Return on Shareholders Funds |
29.38% |
24.95% |
31.44% |
29.57% |
34.90% |
|
Borrowing Ratio |
62.67% |
73.41% |
85.28% |
48.04% |
78.37% |
|
Equity Gearing |
42.80% |
39.96% |
37.57% |
46.94% |
42.01% |
|
Debt Gearing |
0.29% |
0.03% |
0.52% |
3.28% |
10.32% |
|
Interest Coverage |
21.78 |
15.80 |
10.84 |
10.58 |
11.56 |
|
Sales by Tangible Assets |
34.55 |
30.31 |
27.83 |
27.45 |
22.06 |
|
Average Remuneration per Employee |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Profit per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sales per Employee |
0.4 |
0.4 |
0.3 |
0.5 |
0.4 |
|
Capital Employed per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Tangible Assets per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets per Employee |
0.2 |
0.2 |
0.1 |
0.2 |
0.2 |
|
Employee Remuneration by Sales |
11.63% |
11.80% |
11.67% |
12.12% |
12.23% |
|
Creditor Days (Cost of Sales Based) |
46.67 |
49.67 |
44.55 |
45.19 |
48.57 |
|
Creditor Days (Sales Based) |
34.48 |
36.62 |
33.31 |
33.02 |
35.11 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.25 |
|
|
1 |
Rs.81.23 |
|
Euro |
1 |
Rs.69.82 |
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.