MIRA INFORM REPORT

 

 

Report Date :

13.04.2012

 

IDENTIFICATION DETAILS

 

Name :

LANSDOWNE CHEMICALS PUBLIC LIMITED COMPANY

 

 

Registered Office :

Winstons Hs Carterton Indl Est, Black Burton Road, Carterton, Oxfordshire, OX18 3EZ.

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.07.2011

 

 

Date of Incorporation :

13.10.1975

 

 

Com. Reg. No.:

01229506

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Processing and sale of chemicals

 

 

No. of Employees :

37

 

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

 

Maximum Credit Limit :

GBP 500,000

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 Identification Details

 

Subject Reported on

LANSDOWNE CHEMICALS PUBLIC LIMITED COMPANY

Registration Number

01229506

VAT Number

GB153203213

Address

WINSTONS HS CARTERTON INDL EST, BLACK BURTON ROAD, CARTERTON, OXFORDSHIRE, OX18 3EZ.

Telephone

01993 843 081

Facsimile

01993 841 261

Email

sales@lansdownechemicals.com

Web Address

www.lansdownechemicals.com

 

Creditline Recommendations

 

Monthly Credit Guide

GBP 500,000

 

 

 

 

Official Company Data

 

 

Legal Form

Public Limited Company

Registration Number

01229506

VAT Number

GB153203213

Subject Status

Trading

Date of Incorporation

13/10/1975

Registered Office

WINSTONS HOUSE, CARTERTON, OXFORD, OX18 3EZ.

History

31/03/1995 : The Registered Office address changed from WINSTONS HOUSE, CARTERTON, OXFORD, OX8 3EX.

 

11/03/1988 : Change of name from LANSDOWNE CHEMICAL COMPANY LIMITED.

Date of Last Annual Return to Registry

21/02/2012

Accounts

The last filed accounts at Companies House are those to 31/07/2011

Accounting Reference Date

31/07

 

 

 

Operations

 

 

Activities

A group engaged in the processing and sale of chemicals.

Nace Code

2413

Premises

Owned,Offices,Factory

Staff Employed

37

Trade Names

LANSDOWNE AROMATICS

Import Countries

ALL OVER THE WORLD

Export Countries

ALL OVER THE WORLD

Bankers

LLOYDS TSB BANK PLC

Address

WITNEY.

Sort Code

309978

Auditors

Grant Thornton UK LLP

Subsidiaries

lansdowne Chemicals Europe BV

 

 

 

 

Previous Searches

 

Search History Summary

 

Last 3 Months

Last 6 Months

Last 12 Months

2

2

11

 

Search History Details

 

The Search History Details shows details of the most recent 40 searches

 

Date

Description

31/01/2012

Miscellaneous

25/01/2012

Miscellaneous

07/09/2011

Miscellaneous

22/08/2011

Miscellaneous

27/06/2011

Miscellaneous

21/06/2011

Miscellaneous

21/06/2011

Miscellaneous

21/06/2011

Miscellaneous

13/06/2011

Miscellaneous

09/05/2011

Miscellaneous

27/04/2011

Miscellaneous

14/03/2011

Miscellaneous

 

 

 

Public Record Information

 

 

Summary of CCJ's/Scottish Decrees

 

No CCJs/Scottish Decrees are recorded in our file.

 

 

 

 

 

 

 

 

Summary of Mortgages, Charges and Satisfactions

 

 

Total Number of Mortgages/Charges Registered

15

Number Outstanding

5

Number Partially Satisfied

0

Number Satisfied

10

 

 

Date of Latest Mortgage Created

22/07/2010

Date of Latest Satisfaction

05/05/2011

 

 

 

Details of most recent Mortgages, Charges and Satisfactions

 

 

Date Fully
Satisfied

Date
Registered

Date
Created

Charge
Description

Form Type

Lender

 

30/07/2010

22/07/2010

Mortgage

MG01

Lloyds Tsb Bank Plc

 

12/02/2009

11/02/2009

All Assets Debenture

395

Lloyds Tsb Commercial Finance Limited

05/05/2011

18/01/2003

16/01/2003

Legal Charge

395

The Secretary Of State For Defence

 

22/11/1997

19/11/1997

Legal Mortgage

395

Lloyds Bank Plc

 

22/11/1997

19/11/1997

Legal Mortgage

395

Lloyds Bank Plc

 

22/11/1997

19/11/1997

Single Debenture

395

Lloyds Bank Plc

05/05/2011

22/11/1997

19/11/1997

Legal Mortgage

395

Lloyds Bank Plc

25/10/1997

07/08/1994

29/07/1994

Single Debenture

395

Hambros Bank Limited

24/08/2009

22/05/1987

19/05/1987

Debenture

N/A

Sumitomo Corporation (Uk) Limited

13/08/1994

22/07/1986

15/07/1986

Single Debenture

N/A

Lloyds Bank Plc

 

It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.

 

 

 

Other Filings and Notices

 

 

Date

Source

Description

 

31/03/2012

Companies House Gazette

Any amendment to company's articles (including every resolution or agreement required to be embodied in or annexed to copies of the company's articles issued by

19/01/2012

Companies House Gazette

All documents required to be delivered to the registrar under section 441 (annual accounts and reports)

18/10/2008

Companies House Gazette

Change among directors of a company

25/02/2008

Companies House Gazette

Change among directors of a company

20/02/2004

Companies House Gazette

Change among directors of a company

16/02/2004

Companies House Gazette

Change among directors of a company

30/03/2002

Companies House Gazette

Return of allotments of a public limited company

30/06/2001

Companies House Gazette

Change among directors of a company

19/12/1997

Companies House Gazette

Change among directors of a company

15/11/1997

Companies House Gazette

Change among directors of a company

31/10/1997

Companies House Gazette

Change among directors of a company

08/08/1996

Companies House Gazette

Change among directors of a company

09/11/1993

Companies House Gazette

Change among directors of a company

07/08/1990

Companies House Gazette

Change among directors of a company

03/08/1990

Companies House Gazette

Alteration in memorandum or articles of association

05/08/1988

Companies House Gazette

Change among directors of a company

26/02/1988

Companies House Gazette

Alteration in memorandum or articles of association

26/02/1988

Companies House Gazette

Documents delivered by a company under section 241 (annual accounts)

12/12/1987

Companies House Gazette

Change among directors of a company

 

 

 

Company Secretary

 

 

Secretary

RICHARD JOHN CLARKE

Service Address

3 OAKS MEAD, CARTERTON, OXFORDSHIRE, OX18 1JX.

Country of Origin

UNITED KINGDOM

Appointment Date

12/02/2008

 

 

 

Directors

 

 

Director

GEORGE WATKINSON YULL

Service Address

XALET CARRECEDO, NO 5 URBANIZATION EL SALZE ELS PL, LA MASSANA AD400, PRINCIPAT D''ANDORRA.

Country of Origin

UNITED KINGDOM

Date of Birth

22/12/1943

Appointment Date

23/03/1992

Other Directorships

CHELWORTH (MANAGEMENT) LIMITED


Director


ROBERT MOSS

Service Address

55 MILLWOOD END, LONG HANBOROUGH, OXFORDSHIRE, OX29 8BW.

Country of Origin

UNITED KINGDOM

Date of Birth

25/09/1968

Appointment Date

04/02/2004


Director


STUART ALEXANDER

Service Address

14 CARLISLE AVENUE, LAKESIDE OLD TOWN, SWINDON, SN3 1QA.

Country of Origin

UNITED KINGDOM

Date of Birth

05/08/1977

Appointment Date

12/02/2008

 

 

 

Share Capital

 

 

Shares

Ordinary GBP 1.00

Issued Number

266,000

Principal Shareholder

252,470 Cygnet Foundation

 

13,530 George Watkinson-Yull

 

The above reflects the principle shareholder(s) by number of shares held, irrespective of share classification type.

 

Holding Company

Cygnet Foundation, a company incorporated in LIECHENSTEIN

 

 

 

General Information

 

 

31/01/2012 

 

Credit rating reviewed. 

 

 

 

Financial Data– Statutory Accounts

 

 

For annual accounts images, view the

 

Profit and Loss

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/07/2011

31/07/2010

31/07/2009

31/07/2008

Consolidated

Yes

Yes

Yes

Yes

Currency

GBP

GBP

GBP

GBP

SALES

57674

56552

43880

32231

UK sales

21808

18755

15683

 

Export

35866

37797

28197

 

Cost of goods sold

49285

50854

38700

27871

GROSS PROFIT

8389

5698

5180

4360

Wages and Salaries

1728

1506

1009

1010

Directors Emoluments

369

417

339

268

Auditors Fees

19

18

19

25

Non-Audit Fees

3

3

3

 

Trading Profit

4955

2597

2046

1544

Depreciation

426

533

535

499

OPERATING PROFIT

4529

2064

1511

1045

Non Trading Income

2

2

(100)

9

Interest Payable

214

354

223

277

PRE TAX PROFIT

4317

1712

1188

777

Taxation

1241

554

502

288

PROFIT AFTER TAX

3076

1158

686

489

RETAINED PROFITS

3076

1158

686

489

 

Balance Sheet

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/07/2011

31/07/2010

31/07/2009

31/07/2008

Consolidated

Yes

Yes

Yes

Yes

Currency

GBP

GBP

GBP

GBP

TOTAL FIXED ASSETS

2709

2850

3408

3974

Tangible Assets

2709

2720

3147

3583

Fixed Assets

2709

2720

3147

3583

Intangible Assets

 

130

261

391

TOTAL CURRENT ASSETS

20376

18168

13427

10666

Trade debtors

8643

7994

7025

5710

Stocks

11089

9884

5988

4920

Other Current Assets

644

290

414

36

Misc Current Assets

118

104

71

36

Cash

526

186

343

 

TOTAL ASSETS

23085

21018

16835

14640

TOTAL CURRENT LIABILITIES

13383

13392

10727

9225

Trade creditors

7283

7724

6410

5100

Short Term Loans

4637

4990

3464

2883

Bank Overdraft

4092

 

 

1706

Bank Loans

 

4294

3285

662

Other Finance

545

696

179

515

Other Liabilities

1463

678

853

1242

WORKING CAPITAL

6993

4776

2700

1441

TOTAL LONG TERM LIABS

57

1119

717

763

Long Term Loans

 

1119

717

763

Bank Loans

 

562

 

480

Other Finance

 

557

717

283

Other Liabilities

57

 

 

 

NET ASSETS/(LIABILITIES)

9645

6507

5391

4652

SHARE CAPITAL + RESERVES

9645

6507

5391

4652

Share Cap + Sundry Res

841

840

840

840

Issued Share Capital

266

266

266

266

Sundry Reserves

575

574

574

574

Revaluation Reserves

175

175

175

175

Profit and Loss account

8629

5492

4376

3637

SHAREHOLDERS FUNDS

9645

6507

5391

4652

CAPITAL EMPLOYED

9702

7626

6108

5415

 

Financial Comparison

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/07/2011

31/07/2010

31/07/2009

31/07/2008

Consolidated

Yes

Yes

Yes

Yes

Currency

GBP

GBP

GBP

GBP

Net Cashflow from Oper.

3280

(988)

389

922

Increase in Cash

67

(157)

2048

(501)

Directors Remuneration

369

417

339

268

Auditors Remuneration

19

18

19

25

Liquid Assets

9169

8180

7368

5710

Net Working Capital

6993

4776

2700

1441

Long Term Debt(>12 Months)

 

1119

717

763

Other Deferred Liabs

57

 

 

 

Tangible Net Worth(T.N.W)

9645

6377

5130

4261

Equity

9645

6507

5391

4652

Number of Years Trading

36

35

34

33

Number of Employees

37

37

31

32

Profit per Employee

116675.7

46270.3

38322.6

24281.3

Sales per Employee

1558756.8

1528432.4

1415483.9

1007218.8

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

31/07/2011

31/07/2010

31/07/2009

31/07/2008

Consolidated

Yes

Yes

Yes

Yes

Current Ratio

1.5

1.4

1.3

1.2

Long Term Debt/T.N.W

 

0.2

0.1

0.2

Pre Tax Profit Margin%

7.5

3

2.7

2.4

Gross Profit%

14.5

10.1

11.8

13.5

Debtors Days (D.S.O)

55

52

58

65

Creditors Days (D.P.O)

46

50

53

58

Quick Ratio

0.7

0.6

0.7

0.6

W.I.P/Inventory Days

82.1

70.9

56.5

64.4

Return on Investment%

31.6

16.4

14.7

12.7

Return on Assets%

18.7

8.1

7.1

5.3

T.N.W/Total Assets%

41.8

30.3

30.5

29.1

Return on Capital%

44.5

22.4

19.4

14.3

Rtn on Shareholders Funds%

44.8

26.3

22

16.7

Working Capital/Sales%

12.1

8.4

6.2

4.5

Borrowing Ratio%

48.1

95.8

81.5

85.6

Equity Gearing%

71.8

44.8

47.1

46.6

Stock Turnover

5.2

5.7

7.3

6.6

Days Purchases Outstanding

53.9

55.4

60.5

66.8

Sales/Fixed Assets

21.3

20.8

13.9

9

Debt Gearing

 

17.5

14

17.9

 

 

 

Key Industry Sector Trends

 

 

Year

2011

2010

2009

2008

Sample Size

331

767

778

793

Pre-Tax Profit Margin

6.9

7

3.6

3.3

Current Ratio

1.8

2

2

1.9

Borrowing Ratio

72.5

49.9

47.2

41.4

Return on Capital

22.4

17.9

12.1

11.2

Creditors Days

40

44

38

38

 

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Manufacture of basic chemicals

 

 

 

Financial Summary

 

 

Auditors Qualification

The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/07/2011.

 

Turnover

The subjects turnover has increased by 2 % in the year.

 

Operating Profit

Totalled GBP 4,529,000. In the year prior a Profit of GBP 2,064,000 was achieved.

 

Pre Tax Profit

The subject's profit increased by 152 % in the year.

 

Working Capital

The company's working capital has increased by 46 % in the period.

 

Net Worth

Net worth has increased by 48 % and now stands at GBP 9,645,000.

 

Fixed Assets

The subject's fixed assets reduced during the year by GBP 141,000 to GBP 2,709,000 and are now 11 % of total assets compared with 13 % in the previous year.

 

Long Term Liabilities

The company's long term liabilities reduced during the period by 94 % and are now 1 % of net worth compared with 17 % in the previous period.

 

Long Term Liabilities

Long term liabilities are 1 % of capital employed, a decrease of 14 % over the previous period.


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.51.44

UK Pound

1

Rs.81.96

Euro

1

Rs.67.60

 

 

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.