MIRA INFORM REPORT
|
Report Date : |
19.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
NORTRADE FOODS LIMITED |
|
|
|
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Registered Office : |
Cranbrook
Road Gills Green, Hawkhurst,
Kent, Tn18 5bd |
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|
|
|
Country : |
United Kingdom |
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|
|
Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
27.05.1983 |
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Com. Reg. No.: |
01727161 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Distribution of frozen
food products. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
United Kingdom |
a1 |
a1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
REGISTERED NAME & COMPANY
SUMMARY
|
Company Name |
NORTRADE FOODS LIMITED |
Company Number |
01727161 |
|
Registered Address |
CRANBROOK ROAD GILLS
GREEN |
Trading Address |
Gills Green |
|
|
HAWKHURST |
|
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|
KENT |
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|
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|
+ |
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|
Website Address |
- |
|
|
|
Telephone Number |
- |
Fax Number |
01580752770 |
|
TPS |
- |
FPS |
Yes |
|
Incorporation Date |
27/05/1983 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
ALBANFIELD LIMITED |
Type |
Private limited with
Share Capital |
|
Date of Change |
21/06/1983 |
Filing Date of Accounts |
12/04/2011 |
|
|
|
Share Capital |
£3,000 |
|
SIC03 |
5138 |
Currency |
GBP |
|
SIC03 Description |
WHOLESALE OF OTHER FOOD
INC FISH |
||
|
SIC07 |
46380 |
||
|
SIC07 Description |
WHOLESALE OF OTHER FOOD, INCLUDING
FISH, CRUSTACEANS AND MOLLUSCS |
||
|
Principal Activity |
Distribution of frozen
food products. |
||
DIRECTORS/MANAGEMENT
|
Total Current Directors |
3 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors /
Company Secretaries |
3 |
Current Directors
|
Name |
Date of Birth |
04/06/1956 |
|
|
Officers Title |
Mrs |
Nationality |
British |
|
Present Appointments |
10 |
Function |
Director |
|
Appointment Date |
31/10/1991 |
|
|
|
Address |
Cranbrook Road Gills
Green, , Hawkhurst, TN18 5BD |
||
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|
http://app.creditsafeuk.com/CSUKLive/webpages/PeopleSearch/DirectorSummary.aspx?Pnr=900267249 |
http://app.creditsafeuk.com/CSUKLive/webpages/PeopleSearch/Consumersearch.aspx?Pnr=900267249 |
javascript:__doPostBack('Directors1$reCurrentDirectors$ctl00$lbTraceButton','') |
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Name |
Date of Birth |
15/02/1957 |
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|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
7 |
Function |
Director |
|
Appointment Date |
31/10/1991 |
|
|
|
Address |
Southering, Bugsell
Mill Lane, Hurst Green, TN19 7QJ |
||
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|
http://app.creditsafeuk.com/CSUKLive/webpages/PeopleSearch/DirectorSummary.aspx?Pnr=900267251 |
http://app.creditsafeuk.com/CSUKLive/webpages/PeopleSearch/Consumersearch.aspx?Pnr=900267251 |
javascript:__doPostBack('Directors1$reCurrentDirectors$ctl01$lbTraceButton','') |
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Name |
Date of Birth |
17/12/1976 |
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Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
4 |
Function |
Director |
|
Appointment Date |
01/01/2007 |
|
|
|
Address |
Cranbrook Road Gills
Green, , Hawkhurst, TN18 5BD |
||
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|
http://app.creditsafeuk.com/CSUKLive/webpages/PeopleSearch/DirectorSummary.aspx?Pnr=911798948 |
http://app.creditsafeuk.com/CSUKLive/webpages/PeopleSearch/Consumersearch.aspx?Pnr=911798948 |
javascript:__doPostBack('Directors1$reCurrentDirectors$ctl02$lbTraceButton','') |
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Current Company Secretary
|
Name |
Date of Birth |
04/06/1956 |
|
|
Officers Title |
Mrs |
Nationality |
British |
|
Present Appointments |
10 |
Function |
Company Secretary |
|
Appointment Date |
31/10/1991 |
|
|
|
Address |
Southering, Bugsell
Mill Lane, Hurst Green, TN19 7QJ |
||
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|
http://app.creditsafeuk.com/CSUKLive/webpages/PeopleSearch/Consumersearch.aspx?Pnr=900267249 |
javascript:__doPostBack('Directors1$reCompanySec$ctl00$lbCompSecTraceButton','') |
NEGATIVE INFORMATION
CCJ
|
Total Number of Exact
CCJs - |
Total Value of Exact CCJs
- |
|
|
|
Total Number of Possible
CCJs - |
Total Value of Possible
CCJs - |
|
|
|
Total Number of Satisfied
CCJs - |
Total Value of Satisfied
CCJs - |
|
|
|
Total Number of Writs - |
|
|
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
SHARE & SHARE CAPITAL
INFORMATION
Top 20 Shareholders
|
Name |
Individual Share Value |
|
AUSCOT HOLDINGS LTD |
2,999 ORDINARY GBP 1.00 |
|
JOHN GORDON GREIG |
1 ORDINARY GBP 1.00 |
PAYMENT INFORMATION
Na
GROUP STRUCTURE & AFFILIATED
COMPANIES
Group Structure Summary
|
Company Name |
NORTRADE FOODS LIMITED |
Company Number |
01727161 |
|
Holding Company |
AUSCOT HOLDINGS LIMITED |
Ownership Status |
Wholly Owned |
|
Ultimate Holding Company |
AUSCOT HOLDINGS LIMITED |
Companies in group |
5 |
Group structure
|
Company Name |
|
Safe Number |
Registered Number |
Latest Key Financials |
Consol. Accounts |
Turnover |
|
|||||||
|
|
02145699 |
31.12.2010 |
Y |
£31,085,185 |
|||||||||
|
|
01169549 |
31.12.2010 |
N |
|
|||||||||
|
|
01727161 |
31.12.2010 |
N |
£31,085,185 |
|||||||||
|
|
02130829 |
31.12.2010 |
N |
|
|||||||||
|
|
01820424 |
31.12.2010 |
N |
|
|||||||||
FINANCIAL INFORMATION
Profit & Loss
|
Date Of Accounts |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
£31,085,185 |
13.8% |
£27,325,519 |
21% |
£22,585,000 |
- |
- |
- |
- |
|
Export |
£3,394,132 |
-0.4% |
£3,407,591 |
17.3% |
£2,906,060 |
- |
- |
- |
- |
|
Cost of Sales |
£28,375,165 |
14.9% |
£24,699,785 |
19% |
£20,756,305 |
- |
- |
- |
- |
|
Gross Profit |
£2,710,020 |
3.2% |
£2,625,734 |
43.6% |
£1,828,695 |
2.3% |
£1,788,434 |
4.9% |
£1,705,331 |
|
Wages & Salaries |
£546,122 |
6.8% |
£511,491 |
12.1% |
£456,465 |
2.6% |
£445,075 |
21.1% |
£367,400 |
|
Directors Emoluments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating Profit |
£823,221 |
-28.6% |
£1,152,309 |
261.6% |
£318,685 |
-25.2% |
£426,280 |
1% |
£422,098 |
|
Depreciation |
£38,172 |
-0.2% |
£38,260 |
3.8% |
£36,848 |
32.3% |
£27,845 |
139.3% |
£11,634 |
|
Audit Fees |
£10,000 |
1.5% |
£9,850 |
-3.9% |
£10,250 |
5.1% |
£9,750 |
4.3% |
£9,350 |
|
Interest Payments |
£102,991 |
14.3% |
£90,072 |
-47.7% |
£172,305 |
-7.4% |
£186,023 |
37.3% |
£135,438 |
|
Pre Tax Profit |
£720,230 |
-32.2% |
£1,062,237 |
621.7% |
£147,188 |
-38.7% |
£240,257 |
-30.3% |
£344,510 |
|
Taxation |
-£200,789 |
38.3% |
-£325,362 |
-809.4% |
-£35,776 |
-2.4% |
-£34,954 |
63.3% |
-£95,244 |
|
Profit After Tax |
£519,441 |
-29.5% |
£736,875 |
561.4% |
£111,412 |
-45.7% |
£205,303 |
-17.6% |
£249,266 |
|
Dividends Payable |
£500,000 |
150% |
£200,000 |
- |
£200,000 |
- |
- |
-100% |
£150,000 |
|
Retained Profit |
£19,441 |
-96.4% |
£536,875 |
706% |
-£88,588 |
-143.1% |
£205,303 |
106.8% |
£99,266 |
Balance Sheet
|
Date Of Accounts |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
|
Tangible Assets |
£510,258 |
-6.3% |
£544,289 |
-6.3% |
£580,968 |
-0.1% |
£581,504 |
301.9% |
£144,684 |
|
Intangible Assets |
£830 |
- |
£830 |
93% |
£430 |
- |
£430 |
- |
£430 |
|
Total Fixed Assets |
£511,088 |
-6.2% |
£545,119 |
-6.2% |
£581,398 |
-0.1% |
£581,934 |
301% |
£145,114 |
|
Stock |
£6,160,392 |
33.5% |
£4,614,821 |
13% |
£4,084,500 |
60.9% |
£2,539,002 |
31% |
£1,937,628 |
|
Trade Debtors |
£5,299,801 |
14.9% |
£4,612,812 |
27.1% |
£3,628,019 |
8.4% |
£3,347,585 |
15.8% |
£2,891,485 |
|
Cash |
£1,105,721 |
-3.7% |
£1,148,696 |
-4.6% |
£1,204,481 |
-10.1% |
£1,339,258 |
52.1% |
£880,780 |
|
Other Debtors |
£242,299 |
85.6% |
£130,521 |
15.2% |
£113,286 |
-83.3% |
£676,806 |
549.3% |
£104,232 |
|
Miscellaneous Current
Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£12,808,213 |
21.9% |
£10,506,850 |
16.4% |
£9,030,286 |
14.3% |
£7,902,651 |
35.9% |
£5,814,125 |
|
Trade Creditors |
£4,295,249 |
37% |
£3,135,634 |
-19.5% |
£3,895,371 |
85% |
£2,105,469 |
24.5% |
£1,690,932 |
|
Bank Loans &
Overdrafts |
£4,489,772 |
18.3% |
£3,796,816 |
46% |
£2,601,407 |
-10.7% |
£2,913,602 |
47.9% |
£1,970,159 |
|
Other Short Term Finance |
£2,096,158 |
32.4% |
£1,583,770 |
9.2% |
£1,450,752 |
14.6% |
£1,265,722 |
69.6% |
£746,144 |
|
Miscellaneous Current
Liabilities |
£310,142 |
-27.8% |
£429,264 |
247.4% |
£123,564 |
16.1% |
£106,443 |
-33.7% |
£160,516 |
|
Total Current Liabilities |
£11,191,321 |
25.1% |
£8,945,484 |
10.8% |
£8,071,094 |
26.3% |
£6,391,236 |
39.9% |
£4,567,751 |
|
Bank Loans &
Overdrafts and LTL |
£4,586,253 |
17.9% |
£3,891,243 |
45.9% |
£2,666,814 |
-22.5% |
£3,443,180 |
71.9% |
£2,003,179 |
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long Term
Liabilities |
£96,481 |
2.2% |
£94,427 |
44.4% |
£65,407 |
-87.6% |
£529,578 |
999.9% |
£33,020 |
Capital & Reserves
|
Date Of Accounts |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
|
Called Up Share Capital |
£3,000 |
- |
£3,000 |
- |
£3,000 |
- |
£3,000 |
- |
£3,000 |
|
P & L Account Reserve |
£2,028,499 |
1% |
£2,009,058 |
36.5% |
£1,472,183 |
-5.7% |
£1,560,771 |
15.1% |
£1,355,468 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£2,031,499 |
1% |
£2,012,058 |
36.4% |
£1,475,183 |
-5.7% |
£1,563,771 |
15.1% |
£1,358,468 |
Other Financial Items
|
Date Of Accounts |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
|
Net Worth |
£2,030,669 |
1% |
£2,011,228 |
36.4% |
£1,474,753 |
-5.7% |
£1,563,341 |
15.1% |
£1,358,038 |
|
Working Capital |
£1,616,892 |
3.6% |
£1,561,366 |
62.8% |
£959,192 |
-36.5% |
£1,511,415 |
21.3% |
£1,246,374 |
|
Total Assets |
£13,319,301 |
20.5% |
£11,051,969 |
15% |
£9,611,684 |
13.3% |
£8,484,585 |
42.4% |
£5,959,239 |
|
Total Liabilities |
£11,287,802 |
24.9% |
£9,039,911 |
11.1% |
£8,136,501 |
17.6% |
£6,920,814 |
50.4% |
£4,600,771 |
|
Net Assets |
£2,031,499 |
1% |
£2,012,058 |
36.4% |
£1,475,183 |
-5.7% |
£1,563,771 |
15.1% |
£1,358,468 |
Cash Flow
|
Date Of Accounts |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
|
Net Cashflow from
Operations |
£167,443 |
117.8% |
-£938,210 |
-256.4% |
£599,803 |
128.4% |
£262,565 |
-46.5% |
£490,660 |
|
Net Cashflow before
Financing |
-£735,931 |
41.2% |
-£1,251,194 |
-805.2% |
£177,418 |
136.6% |
-£484,965 |
-999.9% |
£52,850 |
|
Net Cashflow from
Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Increase in Cash |
-£735,931 |
41.2% |
-£1,251,194 |
-805.2% |
£177,418 |
136.6% |
-£484,965 |
-999.9% |
£52,850 |
Miscellaneous
|
Date Of Accounts |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£2,127,980 |
1% |
£2,106,485 |
36.7% |
£1,540,590 |
-26.4% |
£2,093,349 |
50.4% |
£1,391,488 |
|
Number of Employees |
20 |
- |
20 |
5.3% |
19 |
- |
19 |
11.8% |
17 |
|
Auditors |
BREBNERS |
||||||||
|
Auditor Comments |
The audit report contains
no adverse comments |
||||||||
|
Bankers |
THE ROYAL BANK OF
SCOTLAND PLC |
||||||||
|
Bank Branch Code |
15-10-00 |
||||||||
Ratios
|
Date Of Accounts |
31/12/10 |
31/12/09 |
31/12/08 |
31/12/07 |
31/12/06 |
|
Pre-tax profit margin % |
2.32 |
3.89 |
0.65 |
- |
- |
|
Current ratio |
1.14 |
1.17 |
1.12 |
1.24 |
1.27 |
|
Sales/Net Working Capital |
19.23 |
17.50 |
23.55 |
- |
- |
|
Gearing % |
225.80 |
193.40 |
180.80 |
220.20 |
147.50 |
|
Equity in % |
15.30 |
18.20 |
15.30 |
18.40 |
22.80 |
|
Creditor Days |
50.29 |
41.76 |
62.78 |
- |
- |
|
Debtor Days |
62.05 |
61.44 |
58.47 |
- |
- |
|
Liquidity/Acid Test |
0.59 |
0.65 |
0.61 |
0.84 |
0.85 |
|
Return On Capital
Employed % |
33.84 |
50.42 |
9.55 |
11.48 |
24.76 |
|
Return On Total Assets
Employed % |
5.40 |
9.61 |
1.53 |
2.83 |
5.78 |
|
Current Debt Ratio |
5.50 |
4.44 |
5.47 |
4.08 |
3.36 |
|
Total Debt Ratio |
5.55 |
4.49 |
5.51 |
4.42 |
3.39 |
|
Stock Turnover Ratio % |
19.81 |
16.88 |
18.08 |
- |
- |
|
Return on Net Assets
Employed % |
35.45 |
52.79 |
9.97 |
15.36 |
25.36 |
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
31/12/2010 |
£31,085,185 |
£720,230 |
£2,031,499 |
20 |
|
31/12/2009 |
£27,325,519 |
£1,062,237 |
£2,012,058 |
20 |
|
31/12/2008 |
£22,585,000 |
£147,188 |
£1,475,183 |
19 |
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
Trade Debtors / Bad Debt Summary
|
Total Number of
Documented Trade Debtors / Bad Debt - |
1 |
|
|
Total Value of Documented
Trade Debtors / Bad Debt - |
£3,206 |
|
Mortgage Summary
|
Outstanding |
2 |
|
Satisfied |
1 |
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
|
19/04/2011 |
New Accounts Filed |
|
|
19/04/2011 |
New Accounts Filed |
|
|
28/01/2011 |
Annual Returns |
|
|
18/05/2010 |
New Accounts Filed |
|
|
18/05/2010 |
New Accounts Filed |
|
|
14/12/2009 |
Annual Returns |
|
|
14/12/2009 |
Change in Reg.Office |
|
|
14/12/2009 |
Change of Company
Postcode |
|
|
03/05/2009 |
New Accounts Filed |
|
|
16/11/2008 |
Annual Returns |
|
|
27/05/2008 |
New Accounts Filed |
|
|
28/11/2007 |
Annual Returns |
|
|
15/11/2007 |
Change in Reg.Office |
|
|
15/11/2007 |
Change of Company
Postcode |
|
|
08/06/2007 |
New Accounts Filed |
Previous Company Names
|
Date |
Previous Name |
Companies House Documents |
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
|
UK Pound |
1 |
Rs.77.58 |
|
Euro |
1 |
Rs.67.58 |
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.