MIRA
INFORM REPORT
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Report Date : |
19.04.2012 |
IDENTIFICATION DETAILS
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Name : |
MILLMAN LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.05.1991 |
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Com. Reg. No.: |
02609249 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
International chemicals trading. |
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No. of Employees : |
7 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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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 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
Millman Ltd.
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Employees: |
7 |
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Company Type: |
Private
Subsidiary |
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Corporate
Family: |
6 Companies |
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Ultimate Parent:
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Ap Holdings Ltd.
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Quoted Status: |
Non-quoted
Company |
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Incorporation
Date: |
10-May-1991 |
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Auditor: |
Wise And Co |
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Fiscal Year End:
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31-Dec-2010 |
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Reporting
Currency: |
British Pound
Sterling |
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Annual Sales: |
103.9 |
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Net Income: |
0.0 |
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Total Assets: |
24.0 |
Business Description
International chemicals trading
Industry
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Industry |
Chemical
Manufacturing |
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ANZSIC 2006: |
3323 -
Industrial and Agricultural Chemical Product Wholesaling |
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NACE 2002: |
5155 - Wholesale
of chemical products |
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NAICS 2002: |
4246 - Chemical
and Allied Products Merchant Wholesalers |
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5155 - Wholesale
of chemical products |
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US SIC 1987: |
516 - Chemicals
and Allied Products |
Key Executives
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News
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Financial Summary
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Registered No.(UK
02609249
Corporate Overview
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Registered Address: |
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Incorporation Date: |
10-May-1991 |
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Company Type: |
Private Subsidiary |
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Quoted Status: |
Not Quoted |
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Registered No.( |
02609249 |
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Director: |
Sushovan Ghosh |
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Contents |
Industry
Codes
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Business
Description
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Financial
Data
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Key Corporate Relationships
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Total Corporate Family Members: 6 |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Ap Holdings Ltd. |
Parent |
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Subsidiary |
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Commercial Banks |
104.4 |
15 |
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Subsidiary |
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Chemical Manufacturing |
103.9 |
7 |
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Subsidiary |
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Business Services |
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Subsidiary |
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Business Services |
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Subsidiary |
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Nonclassifiable Industries |
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Board of Directors
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Directors
and Shareholders Report
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Main Office Address: |
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Annual Return
Date: 26 Mar 2011 |
Individual Directors
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
12 Jul 1957 |
|
28 Feb 1994 |
NA |
Current:5 |
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Previous |
13 Apr 1967 |
53 Cranes Park, |
20 Apr 1995 |
29 Sep 1995 |
Current:0 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Sgi Enterprises Limited |
Previous |
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20 Aug 1992 |
NA |
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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 |
04 Mar 1964 |
17 Coniston Close, |
21 Apr 2008 |
NA |
Current:7 |
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Previous |
21 Apr 1957 |
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28 Feb 1994 |
21 Apr 2008 |
Current:0 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Alman Limited |
Previous |
Duke House, |
20 Aug 1992 |
NA |
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Individual Shareholders
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There are no individual shareholders for this company. |
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Corporate Shareholders |
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Company Name |
Registration Number |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
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05635530 |
100 Ordinary GBP 1.00 |
Ordinary |
100 |
1.00 |
100.00 |
100.00 |
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News
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Street Watch STAY SAFE WHEN OUT AND ABOUT |
31-Jan-2012 |
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STAY SAFE WHEN OUT AND ABOUT - Street Watch - |
31-Jan-2012 |
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forces of nature |
29-Jan-2012 |
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BRIEF: Kiva Han to close in Oakland |
26-Jan-2012 |
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STUDENTS TACKLE LUNCH WASTE |
19-Jan-2012 |
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Ink refill business for sale |
18-Jan-2012 |
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Luczak still in the hunt |
12-Jan-2012 |
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Australian Open Qualifying results |
11-Jan-2012 |
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Seeded and Canadian results from Australian Open
Qualifying |
11-Jan-2012 |
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Street Watch |
10-Jan-2012 |
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Annual Profit & Loss
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Financials in: REP (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 |
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Period Length |
52 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) |
1 |
1 |
1 |
1 |
1 |
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Consolidated |
No |
No |
No |
No |
No |
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Turnover ( |
0.0 |
- |
0.0 |
- |
0.0 |
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Turnover (Exports) |
103.8 |
- |
39.3 |
- |
25.7 |
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Total Turnover |
103.9 |
52.1 |
39.3 |
- |
25.7 |
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Cost of Sales |
102.2 |
50.4 |
38.4 |
- |
24.7 |
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Gross Profit |
1.7 |
1.7 |
0.9 |
0.9 |
1.0 |
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Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Expenses |
1.5 |
1.6 |
0.9 |
0.9 |
0.9 |
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Operating Profit |
0.2 |
0.1 |
- |
0.1 |
- |
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Other Income |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
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Interest Paid |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
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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 |
- |
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Profit Before Taxes |
0.1 |
0.0 |
0.0 |
0.0 |
0.1 |
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Tax Payable / Credit |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Dividends |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Profit After Taxes |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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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 |
7 |
- |
4 |
4 |
- |
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Wages |
0.7 |
- |
0.2 |
0.4 |
0.3 |
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Social Security Costs |
0.0 |
- |
0.0 |
0.0 |
0.0 |
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Pensions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Pension Costs |
0.0 |
- |
0.0 |
0.0 |
0.0 |
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Employees Remuneration |
0.7 |
- |
0.2 |
0.4 |
0.3 |
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Directors Emoluments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Costs |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Directors Remuneration |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Highest Paid Director |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Balance
Sheet
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Financials in:
GBP (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
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Consolidated |
No |
No |
No |
No |
No |
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Land & Buildings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Plant & Vehicles |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
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 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Stocks |
16.3 |
9.3 |
2.0 |
- |
- |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
- |
- |
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Total Stocks Work In Progress |
16.3 |
9.3 |
2.0 |
5.1 |
3.8 |
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Trade Debtors |
7.3 |
6.9 |
3.6 |
3.7 |
1.7 |
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Inter-Company Debtors |
0.0 |
3.2 |
0.0 |
2.5 |
1.3 |
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Other Debtors |
0.0 |
0.2 |
3.9 |
0.1 |
0.1 |
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Total Debtors |
7.4 |
10.2 |
7.4 |
6.2 |
3.1 |
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Cash and Equivalents |
0.4 |
1.7 |
2.1 |
0.9 |
1.0 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
24.0 |
21.2 |
11.5 |
12.2 |
7.9 |
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Total Assets |
24.0 |
21.2 |
11.5 |
12.2 |
7.9 |
|
Trade Creditors |
0.1 |
0.7 |
0.4 |
2.0 |
0.3 |
|
Bank Overdraft |
12.5 |
6.0 |
- |
- |
0.0 |
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Inter-Company Creditors |
- |
- |
- |
- |
0.0 |
|
Total Short Term Loans |
- |
- |
0.4 |
3.3 |
- |
|
Accruals/Deferred Income (Current Liability) |
0.8 |
- |
- |
- |
- |
|
Social Security/VAT |
0.0 |
0.2 |
- |
- |
- |
|
Corporation Tax |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Other Current Liabilities |
1.5 |
4.3 |
5.1 |
0.4 |
0.9 |
|
Total Current Liabilities |
14.9 |
11.1 |
5.9 |
5.7 |
1.2 |
|
Group Loans (Long Term Liability) |
8.8 |
10.0 |
5.6 |
6.5 |
6.6 |
|
Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Leasing (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 |
0.0 |
0.0 |
|
Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
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 |
8.8 |
10.0 |
5.6 |
6.5 |
6.6 |
|
Deferred Taxation |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Provisions |
0.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.2 |
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 |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
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 |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Net Worth |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
Annual Cash Flows
|
|
|
|
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Financials in:
GBP (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) |
1 |
1 |
1 |
1 |
1 |
|
Consolidated |
No |
No |
No |
No |
No |
|
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Annual Ratios
|
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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 |
1 |
1 |
1 |
1 |
1 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.61 |
1.91 |
1.96 |
2.14 |
6.56 |
|
Liquidity Ratio |
0.52 |
1.07 |
1.61 |
1.25 |
3.38 |
|
Stock Turnover |
6.38 |
5.60 |
19.42 |
- |
6.71 |
|
Credit Period (Days) |
25.81 |
48.00 |
33.00 |
- |
24.50 |
|
Working Capital by Sales |
8.75% |
19.41% |
14.34% |
- |
26.03% |
|
Trade Credit by Debtors |
0.01 |
0.10 |
0.12 |
0.54 |
0.18 |
|
Return on Capital |
0.56% |
0.09% |
0.40% |
-0.18% |
1.07% |
|
Return on Assets |
0.21% |
0.04% |
0.19% |
-0.10% |
0.91% |
|
Profit Margin |
0.05% |
0.02% |
0.06% |
- |
0.28% |
|
Return on Shareholders Funds |
36.73% |
13.46% |
31.42% |
-29.40% |
147.16% |
|
Borrowing Ratio |
15,467.72% |
22,947.29% |
8,314.88% |
24,616.99% |
13,604.22% |
|
Equity Gearing |
0.57% |
0.33% |
0.62% |
0.33% |
0.62% |
|
Debt Gearing |
6,380.87% |
14,398.11% |
7,791.09% |
16,214.42% |
13,604.22% |
|
Interest Coverage |
0.35 |
0.14 |
0.20 |
-0.11 |
1.98 |
|
Sales by Tangible Assets |
50,039.51 |
- |
75,225.85 |
- |
16,581.32 |
|
Average Remuneration per Employee |
0.1 |
- |
0.1 |
0.1 |
- |
|
Profit per Employee |
0.0 |
- |
0.0 |
0.0 |
- |
|
Sales per Employee |
14.8 |
- |
9.8 |
- |
- |
|
Capital Employed per Employee |
1.3 |
- |
1.4 |
1.6 |
- |
|
Tangible Assets per Employee |
0.0 |
- |
0.0 |
0.0 |
- |
|
Total Assets per Employee |
3.4 |
- |
2.9 |
3.0 |
- |
|
Employee Remuneration by Sales |
0.68% |
- |
0.54% |
- |
1.23% |
|
Creditor Days (Cost of Sales Based) |
0.30 |
4.82 |
3.91 |
- |
4.69 |
|
Creditor Days (Sales Based) |
0.29 |
4.67 |
3.82 |
- |
4.51 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.89 |
|
|
1 |
Rs.83.18 |
|
Euro |
1 |
Rs.68.06 |
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 |
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NB |
New Business |
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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.