MIRA INFORM REPORT

 

 

Report Date :           

10.10.2011

 

IDENTIFICATION DETAILS

 

Name :

WELDFAST (UK) LTD.

 

 

Registered Office :

Unit 38 Brokhouse Road, Parkhouse Industrial Estate We, Chesterton Newcastle Under Lym, Staffordshire, ST5 7RD

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

06.01.2006

 

 

Com. Reg. No.:

05668641

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Welding Machines and Equipment Manufacturers

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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 name & address 

 

Weldfast (UK) Ltd.

Unit 38

Parkhouse Industrial Estate

Newcastle, ST5 7RD

United Kingdom

Tel:       01782 566553

 

 

Synthesis     

 

Employees:                  7

Company Type:            Private Independent

Quoted Status:             Non-quoted Company

Incorporation Date:         06-Jan-2006     

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       British Pound Sterling

Annual Sales:                NA

Total Assets:                3.0

 

 

Business Description     

 

Welding Machines and Equipment Manufacturers

 

Industry

Industry            Miscellaneous Capital Goods

ANZSIC 2006:    3739 - Other Goods Wholesaling Not Elsewhere Classified

NACE 2002:      5190 - Other wholesale

NAICS 2002:     423990 - Other Miscellaneous Durable Goods Merchant Wholesalers

UK SIC 2003:    5190 - Other wholesale

US SIC 1987:    5099 - Durable Goods, Not Elsewhere Classified

 

           

Key Executives   

 

Name

Title

Lorraine Nixon

Secretary

Nigel David Nixon

Director

Stephen Anthony Nixon

Director

Financial Summary

 

 

FYE: 31-Dec-2010

USD (mil)

Key Figures

 

Current Assets

2.92

Fixed Assets

0.12

Total Liabilities

0.65

Net Worth

1.46

 

Key Ratios

 

Current Ratio

4.52

Acid Test

3.31

 

Registered No.(UK): 05668641

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6475734

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6387123

 

 

Corporate Overview

 

Location

Unit 38

Parkhouse Industrial Estate

Newcastle, ST5 7RD

Staffordshire County

United Kingdom

Tel:       01782 566553

           

Sales GBP(mil):             NA

Assets GBP(mil):           1.9

Employees:                   7

Fiscal Year End:            31-Dec-2010

Industry:            Miscellaneous Capital Goods

           

Registered Address:

Unit 38 Brokhouse Road

Parkhouse Industrial Estate We

Chesterton Newcastle Under Lym, Staffordshire

ST5 7RD

United Kingdom

 

Incorporation Date:         06-Jan-2006

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(UK):       05668641

Director:                        Nigel David Nixon

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

3739     -          Other Goods Wholesaling Not Elsewhere Classified

 

NACE 2002 Codes:

5190     -          Other wholesale

 

NAICS 2002 Codes:

423990  -          Other Miscellaneous Durable Goods Merchant Wholesalers

 

US SIC 1987:

5099     -          Durable Goods, Not Elsewhere Classified

 

UK SIC 2003:

5190     -          Other wholesale

 

Business Description

Welding Machines and Equipment Manufacturers

 

Financial Data

Financials in:

GBP(mil)

 

Assets:

1.9

Current Assets:

1.9

 

Fixed Assets:

0.1

 

Long Term Debt:

0.6

 

Total Liabilities:

1.0

 

Issued Capital:

NaN

 

Working Capital:

1.5

 

Net Worth:

0.9

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

NA

Key Corporate Relationships

Auditor History

Hardwickes

31-Dec-2008

Hardwickes

31-Dec-2007

Hardwickes

31-Dec-2006

 

 

 

 

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Nigel David Nixon

 

Director

Director/Board Member

 

Stephen Anthony Nixon

 

Director

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Lorraine Nixon

 

Secretary

Company Secretary

 

 

 

Directors and Shareholders Report

 

Main Office Address:
Unit 38
Parkhouse Industrial Estate
Newcastle
United Kingdom ST5 7RD

Tel: 01782 566553

Annual Return Date: 06 Jan 2011

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Nigel David 
Nixon

Current

25 May 1965

12 Bordeaux Walk, Seabridge,
Newcastle, Staffordshire ST5 3TZ

06 Jan 2006

NA

Current:1
Previous:1
Disqualifications:0

 

Stephen Anthony 
Nixon

Current

25 May 1965

Vicarage Farm, Leek Road Wetley Rocks, 
Stoke-On-Trent, Staffordshire ST9 0AR

10 Sep 2007

NA

Current:1
Previous:2
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

 

 

 

Company Name

Status

Registered Address

Appointment Date

Resignation Date

 

Waterlow Nominees Limited

Previous

6-8 Underwood Street, 
London , London N1 7JQ

06 Jan 2006

06 Jan 2006

 

 

 

 

 

Individual Secretaries

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Lorraine 
Nixon

Current

NA

Vicarage Farm Leek Road, Wetley Rocks, 
Stoke-On-Trent, Staffordshire ST9 0AR

24 Jan 2008

NA

Current:1
Previous:0
Disqualifications:0

 

Julie Angela 
Nixon

Previous

NA

12 Bordeaux Walk, Seabridge,
Newcastle, Staffordshire ST5 3TZ

06 Jan 2006

10 Sep 2007

Current:0
Previous:1
Disqualifications:0

 

Stephen Anthony 
Nixon

Previous

25 May 1965

Vicarage Farm, Leek Road Wetley Rocks, 
Stoke-On-Trent, Staffordshire ST9 0AR

10 Sep 2007

24 Jan 2008

Current:1
Previous:2
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

 

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Waterlow Secretaries Limited

Previous

6-8 Underwood Street, 
London , London N1 7JQ

06 Jan 2006

06 Jan 2006

 

 

Individual Shareholders

 

Name

Share Details 
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Nigel David Nixon

50 Ordinary GBP 1.00

Ordinary

50

1.00

50.00

50.00

Stephen Anthony Nixon

50 Ordinary GBP 1.00

Ordinary

50

1.00

50.00

50.00

 

 

 

 

 

 

 

 

Corporate Shareholders

 

There are no corporate shareholders for this company.

 

 

 

Annual Profit & Loss

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

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

51 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

 

 

 

 

 

 

Depreciation

0.0

0.0

0.0

0.0

0.0

 

 

Annual Balance Sheet

 

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

 

 

 

 

 

 

Total Tangible Fixed Assets

0.1

0.1

0.1

0.1

0.0

Intangible Assets

0.0

0.0

0.0

0.0

0.0

Investments

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

0.1

0.1

0.1

0.1

0.0

Stocks

-

-

-

-

0.0

Work in Progress

-

-

-

-

0.0

Total Stocks Work In Progress

0.8

0.8

0.6

0.5

0.0

Total Debtors

1.8

0.8

0.7

0.4

0.0

Cash and Equivalents

0.3

0.4

0.2

0.3

0.0

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

2.9

2.0

1.5

1.3

0.0

Total Assets

3.0

2.1

1.6

1.4

0.0

Other Current Liabilities

0.6

0.2

0.1

0.2

0.0

Total Current Liabilities

0.6

0.2

0.1

0.2

0.0

Other Long Term Liabilities

0.9

1.1

1.2

1.4

0.2

Total Long Term Liabilities

0.9

1.1

1.2

1.4

0.2

Deferred Taxation

-

-

-

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

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

0.0

0.0

0.0

0.0

0.0

Retained Earnings

1.5

0.8

0.2

-0.1

-0.1

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

1.5

0.8

0.2

-0.1

-0.1

Net Worth

1.5

0.8

0.2

-0.1

-0.1

 

 

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

51 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

51 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

4.52

8.83

11.25

7.70

2.33

Liquidity Ratio

3.31

5.37

6.56

4.52

2.33

Equity Gearing

48.24%

38.69%

14.95%

-10.36%

-550.88%

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.14

UK Pound

1

Rs.75.97

Euro

1

Rs.65.99

 

 

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.