MIRA
INFORM REPORT
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Report Date : |
14.02.2012 |
IDENTIFICATION DETAILS
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Name : |
SIMS GROUP UK LTD. |
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Registered Office : |
Long Marston Stratford Upon Avon, CV37 8AQ |
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Country : |
United Kingdom |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
27.08.1996 |
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Com. Reg. No.: |
03242331 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Recycling of metal waste and scrap |
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No. of Employees : |
1,020 |
RATING & COMMENTS
|
MIRAs 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 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
|
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
Sims Group UK Ltd.
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Business
Description
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Sims Group UK Ltd. is one of the leading recycling companies in the
United Kingdom. The company offers a range of ferrous raw materials to the
steel and foundry industries. It also stocks and sells various non-ferrous
products to refineries and smelters. The company uses a variety of recycling
solutions to recover rubber from tyre scraps. It serves clients in the
moulding, equestrian and carpet industries. The company provides leaded and
unleaded recycled glass in different packaging. In addition, it offers finely
powdered rigid polyurethane foam. |
Industry
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Industry |
Waste Management Services |
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ANZSIC 2006: |
29 - Waste Collection, Treatment and
Disposal Services |
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NACE 2002: |
3710 - Recycling of metal waste and scrap |
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NAICS 2002: |
562920 - Materials Recovery Facilities |
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UK SIC 2003: |
3710 - Recycling of metal waste and scrap |
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US SIC 1987: |
4953 - Refuse Systems |
Key Executives
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News
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Financial
Summary
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Corporate Overview
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Corporate Structure News
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Sims Group UK
Ltd. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Sims Metal Management Ltd. |
Parent |
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Subsidiary |
Stratford Upon Avon |
United Kingdom |
Commercial Banks |
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Subsidiary |
Stratford Upon Avon |
United Kingdom |
Waste Management Services |
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Subsidiary |
Stratford Upon Avon |
United Kingdom |
Waste Management Services |
507.7 |
1,020 |
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Subsidiary |
Dumfries |
United Kingdom |
Commercial Banks |
|
200 |
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Subsidiary |
Dumfries |
United Kingdom |
Waste Management Services |
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|
|
|
Subsidiary |
Stratford Upon Avon |
United Kingdom |
Waste Management Services |
136.2 |
115 |
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Subsidiary |
Ashford |
United Kingdom |
Nonclassifiable Industries |
1.7 |
38 |
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|
Subsidiary |
Stratford Upon Avon |
United Kingdom |
Nonclassifiable Industries |
1.6 |
32 |
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Subsidiary |
Stratford Upon Avon |
United Kingdom |
Nonclassifiable Industries |
5.8 |
18 |
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Subsidiary |
Stratford Upon Avon |
United Kingdom |
Nonclassifiable Industries |
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Subsidiary |
Halesowen |
United Kingdom |
Waste Management Services |
|
15 |
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Subsidiary |
Cardiff |
United Kingdom |
Waste Management Services |
|
10 |
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Subsidiary |
Alfreton |
United Kingdom |
Miscellaneous Capital Goods |
2.3 |
3 |
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Subsidiary |
Stratford Upon Avon |
United Kingdom |
Nonclassifiable Industries |
2.3 |
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Subsidiary |
Stratford Upon Avon |
United Kingdom |
Waste Management Services |
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Subsidiary |
Stratford Upon Avon |
United Kingdom |
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Executives Report
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Directors and Shareholders Report
Annual Return Date: 28 May 2011
Total Issued Capital (GBP 000): 145,398
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
30 Jul 1969 |
Long Marston, Stratford Upon Avon, |
31 Mar 2006 |
NA |
Current:20 |
|
|
|
Current |
29 Oct 1965 |
52 Llangorse Drive, |
03 Sep 2001 |
NA |
Current:21 |
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|
Previous |
02 May 1947 |
Little Gables, Mynydd Bach Shirenewton, |
31 Jan 1999 |
31 Mar 2001 |
Current:0 |
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|
Previous |
NA |
22A Upper Avenue Road, |
08 Apr 2000 |
31 Mar 2006 |
Current:2 |
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Previous |
17 May 1938 |
Greenmeadow Avenue Road, |
17 Oct 1997 |
31 Jan 1999 |
Current:4 |
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Previous |
25 Jan 1940 |
36 Cowdroy Avenue, |
08 Apr 2000 |
28 Feb 2002 |
Current:1 |
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|
Previous |
18 Apr 1963 |
Tre Evan House, Llangarron, |
08 Apr 2000 |
17 Aug 2009 |
Current:13 |
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|
|
Previous |
08 Aug 1967 |
20 Moat Drive, |
NA |
17 Jan 1997 |
Current:0 |
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|
|
Previous |
15 Aug 1964 |
2 Gatehouse Close, |
17 Jan 1997 |
08 Apr 2000 |
Current:0 |
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Previous |
05 Jun 1959 |
1087 Old Mohawk Road, Ancaster Ontario L9G 3K9, |
22 Jan 1997 |
03 Nov 1997 |
Current:0 |
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Previous |
22 Dec 1936 |
55 Revell Road, |
17 Jan 1997 |
17 Oct 1997 |
Current:0 |
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Previous |
NA |
26 Prince Albert Road, |
08 Apr 2000 |
31 Mar 2006 |
Current:0 |
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Previous |
01 Feb 1972 |
90 Westville Road, |
09 Jan 1997 |
17 Jan 1997 |
Current:0 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
|
Norose Limited |
Previous |
Kempson House, P.O. Box 570, Camomile Street, |
27 Aug 1996 |
09 Jan 1997 |
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Norton Rose Limited |
Previous |
Kempson House, P.O. Box 570, Camomile Street, |
27 Aug 1996 |
09 Jan 1997 |
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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 |
03 Apr 1964 |
Woodgate 1 The Brickall, Long Marston, |
08 Apr 2000 |
NA |
Current:17 |
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|
Previous |
14 Apr 1956 |
58 Baby Point Crescent, |
12 Feb 1997 |
08 Apr 2000 |
Current:0 |
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|
Previous |
15 Aug 1964 |
2 Gatehouse Close, |
NA |
12 Feb 1997 |
Current:0 |
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Previous |
01 Feb 1972 |
90 Westville Road, |
09 Jan 1997 |
17 Jan 1997 |
Current:0 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
|
Norton Rose Limited |
Previous |
Kempson House, P.O. Box 570, Camomile Street, |
27 Aug 1996 |
09 Jan 1997 |
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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 |
|
Sims Group UK Intermediate Holdings |
145397871 Ordinary GBP 1.00 |
Ordinary |
145,397,871 |
1.00 |
145,397,871.00 |
100.00 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
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News
|
Deal snapshot: SIMS METAL MANAGEMENT BUYS UK METALS
RECYCLER DUNN BROTHERS |
10-May-2011 |
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SIMS METAL MANAGEMENT ACQUIRES UK METALS RECYCLER
DUNN BROTHERS |
09-May-2011 |
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Sims Metal Management buys UK metals recycler Dunn
Brothers |
09-May-2011 |
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Sims Metal Management Announces Acquisition of UK
Metals Recycler Dunn Brothers |
08-May-2011 |
Annual Profit & Loss
|
Financials in: REP (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
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|
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
30-Jun-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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|
Turnover (UK) |
- |
- |
- |
- |
299.7 |
|
Turnover (Exports) |
- |
- |
- |
- |
0.0 |
|
Total Turnover |
507.7 |
404.8 |
489.1 |
390.9 |
299.7 |
|
Cost of Sales |
409.6 |
349.1 |
388.9 |
317.2 |
235.4 |
|
Gross Profit |
98.1 |
55.6 |
100.3 |
73.7 |
64.3 |
|
Depreciation |
8.2 |
6.9 |
5.1 |
4.7 |
4.3 |
|
Other Expenses |
86.4 |
74.5 |
77.6 |
57.9 |
49.0 |
|
Other Income |
2.9 |
2.4 |
13.8 |
16.5 |
2.7 |
|
Interest Paid |
4.5 |
7.2 |
10.2 |
4.6 |
1.2 |
|
Exceptional Income |
-0.2 |
0.1 |
0.1 |
-14.3 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Profit Before Taxes |
9.9 |
-23.6 |
26.4 |
13.4 |
16.8 |
|
Tax Payable / Credit |
1.8 |
-5.5 |
4.6 |
3.8 |
4.5 |
|
Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends |
0.0 |
3.3 |
10.0 |
17.8 |
4.7 |
|
Profit After Taxes |
8.1 |
-21.4 |
11.8 |
-8.2 |
7.5 |
|
Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Audit Fees |
0.3 |
0.4 |
0.2 |
0.1 |
0.1 |
|
Non Audit Fees |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Number of Employees |
1,020 |
1,085 |
866 |
698 |
664 |
|
Wages |
30.0 |
31.2 |
25.9 |
20.5 |
16.0 |
|
Social Security Costs |
2.6 |
3.1 |
2.7 |
1.9 |
1.5 |
|
Pensions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Pension Costs |
1.4 |
1.2 |
1.6 |
0.7 |
0.5 |
|
Employees Remuneration |
34.1 |
35.4 |
30.2 |
23.0 |
18.0 |
|
Directors Emoluments |
1.2 |
0.9 |
2.1 |
1.1 |
0.8 |
|
Other Costs |
0.7 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Directors Remuneration |
1.9 |
1.1 |
2.1 |
1.1 |
0.8 |
|
Highest Paid Director |
1.5 |
0.6 |
1.1 |
0.5 |
0.4 |
|
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Annual Balance
Sheet |
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Financials in:
GBP (mil) |
|
|
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
30-Jun-2006 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
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Total Tangible Fixed Assets |
57.3 |
51.3 |
41.3 |
34.3 |
34.0 |
|
Intangible Assets |
26.5 |
26.2 |
23.9 |
15.7 |
11.0 |
|
Investments |
126.2 |
125.8 |
85.7 |
65.2 |
51.2 |
|
Total Fixed Assets |
210.0 |
203.3 |
150.9 |
115.2 |
96.2 |
|
Stocks |
105.0 |
- |
- |
- |
26.7 |
|
Work in Progress |
0.0 |
- |
- |
- |
0.0 |
|
Total Stocks Work In Progress |
105.0 |
60.4 |
78.8 |
30.6 |
26.7 |
|
Trade Debtors |
38.0 |
25.1 |
76.2 |
42.0 |
40.5 |
|
Inter-Company Debtors |
2.8 |
6.4 |
52.7 |
38.8 |
23.4 |
|
Other Debtors |
7.3 |
10.1 |
5.8 |
4.2 |
3.8 |
|
Total Debtors |
48.1 |
41.6 |
134.7 |
85.0 |
67.7 |
|
Cash and Equivalents |
2.5 |
2.4 |
7.0 |
6.9 |
1.8 |
|
Other Current Assets |
0.0 |
0.1 |
0.5 |
2.1 |
0.0 |
|
Total Current Assets |
155.6 |
104.4 |
221.0 |
124.6 |
96.2 |
|
Total Assets |
365.6 |
307.7 |
371.8 |
239.8 |
192.4 |
|
Trade Creditors |
41.1 |
30.0 |
62.1 |
39.2 |
31.6 |
|
Inter-Company Creditors |
111.7 |
119.0 |
63.9 |
30.3 |
39.4 |
|
Hire Purchase (Current Liability) |
0.1 |
0.2 |
0.2 |
0.5 |
- |
|
Finance Lease (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Total Finance Lease/Hire Purchase (Current Liability) |
0.1 |
0.2 |
0.2 |
0.5 |
- |
|
Total Short Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Current Liability) |
5.3 |
6.2 |
3.8 |
3.8 |
4.7 |
|
Social Security/VAT |
- |
0.0 |
4.8 |
3.0 |
3.1 |
|
Other Current Liabilities |
4.0 |
1.8 |
3.7 |
1.9 |
1.5 |
|
Total Current Liabilities |
162.3 |
157.3 |
138.5 |
78.5 |
80.3 |
|
Group Loans (Long Term Liability) |
0.0 |
0.0 |
- |
- |
0.0 |
|
Director Loans (Long Term Liability) |
0.0 |
0.0 |
- |
- |
0.0 |
|
Hire Purchase (Long Term Liability) |
0.3 |
0.4 |
- |
- |
0.0 |
|
Leasing (Long Term Liability) |
0.0 |
0.0 |
- |
- |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.3 |
0.4 |
- |
- |
0.0 |
|
Other Long Term Loans |
18.0 |
78.4 |
137.8 |
78.5 |
27.3 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
- |
- |
0.0 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
0.1 |
0.2 |
0.0 |
|
Total Long Term Liabilities |
18.3 |
78.8 |
137.9 |
78.7 |
27.3 |
|
Deferred Taxation |
0.7 |
0.8 |
1.2 |
1.1 |
0.3 |
|
Other Provisions |
3.1 |
6.4 |
5.4 |
4.1 |
0.1 |
|
Total Provisions |
3.8 |
7.2 |
6.6 |
5.2 |
0.4 |
|
Issued Capital |
145.4 |
35.4 |
35.4 |
35.4 |
35.4 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
0.0 |
0.0 |
5.8 |
5.8 |
5.8 |
|
Retained Earnings |
35.9 |
29.1 |
47.7 |
36.1 |
43.1 |
|
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 |
181.3 |
64.5 |
88.8 |
77.3 |
84.4 |
|
Net Worth |
154.8 |
38.3 |
64.9 |
61.7 |
73.4 |
|
|
|
Annual Cash
Flows |
|
Financials in:
GBP (mil) |
|
|
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
30-Jun-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 |
|
|
|
|
|
|
|
|
|
|
Annual Ratios |
|
Financials in: GBP
(mil) |
|
|
|
|
|
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
30-Jun-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 |
0.96 |
0.66 |
1.60 |
1.59 |
1.20 |
|
Liquidity Ratio |
0.31 |
0.28 |
1.03 |
1.20 |
0.87 |
|
Stock Turnover |
4.84 |
6.70 |
6.20 |
12.76 |
11.23 |
|
Credit Period (Days) |
27.35 |
22.60 |
56.85 |
39.24 |
49.28 |
|
Working Capital by Sales |
-1.32% |
-13.08% |
16.86% |
11.79% |
5.31% |
|
Trade Credit by Debtors |
1.08 |
1.20 |
0.81 |
0.93 |
0.78 |
|
Return on Capital |
4.84% |
-15.67% |
11.32% |
8.31% |
14.99% |
|
Return on Assets |
2.69% |
-7.66% |
7.10% |
5.59% |
8.73% |
|
Profit Margin |
1.94% |
-5.82% |
5.40% |
3.43% |
5.61% |
|
Return on Shareholders Funds |
5.43% |
-36.56% |
29.74% |
17.33% |
19.91% |
|
Borrowing Ratio |
84.03% |
517.55% |
310.93% |
177.15% |
90.95% |
|
Equity Gearing |
49.58% |
20.95% |
23.89% |
32.26% |
43.84% |
|
Debt Gearing |
11.79% |
205.88% |
212.17% |
127.33% |
37.22% |
|
Interest Coverage |
2.21 |
-3.29 |
2.59 |
2.94 |
13.97 |
|
Sales by Tangible Assets |
8.86 |
7.88 |
11.85 |
11.41 |
8.82 |
|
Average Remuneration per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sales per Employee |
0.5 |
0.4 |
0.6 |
0.6 |
0.5 |
|
Capital Employed per Employee |
0.2 |
0.1 |
0.3 |
0.2 |
0.2 |
|
Tangible Assets per Employee |
0.1 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Total Assets per Employee |
0.4 |
0.3 |
0.4 |
0.3 |
0.3 |
|
Employee Remuneration by Sales |
6.71% |
8.75% |
6.17% |
5.89% |
6.01% |
|
Creditor Days (Cost of Sales Based) |
36.64 |
31.35 |
58.28 |
45.05 |
49.04 |
|
Creditor Days (Sales Based) |
29.56 |
27.04 |
46.33 |
36.56 |
38.52 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.32 |
|
|
1 |
Rs.77.84 |
|
Euro |
1 |
Rs.65.35 |
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 SCs 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.