MIRA INFORM REPORT

 

 

Report Date :

29.02.2012

 

IDENTIFICATION DETAILS

 

Name :

DYNAMIC CONTROLS LIMITED

 

 

Registered Office :

Dynamic Works, Union Street Royton, Oldham, Lancs, OL2 5JD.

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.11.2010

 

 

Date of Incorporation :

24.12.1982

 

 

Com. Reg. No.:

01689259

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Manufacturers of pumps and compressors.

 

 

No. of Employees :

42

 

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 114,500

Status :

Satisfactory

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 30, 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

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


 Company Identification Details

 

Subject Reported on

DYNAMIC CONTROLS LIMITED

Registration Number

01689259

VAT Number

GB145645949

Address

DYNAMIC WORKS, UNION STREET ROYTON, OLDHAM, LANCS, OL2 5JD.

Telephone

0161 633 3933

Facsimile

0161 633 4113

Email

sales@dynamiccontrols.co.uk

Web Address

www.dynamiccontrols.co.uk

 

Creditline Recommendations

 

Monthly Credit Guide

GBP 114,500

 

 

 

 

Official Company Data

 

 

Legal Form

Private Limited

Registration Number

01689259

VAT Number

GB145645949

Subject Status

Trading

Date of Incorporation

24/12/1982

Registered Office

DYNAMIC WORKS, ROYTON, OLDHAM, GREATER MANCHESTER, OL2 5JD.

History

18/06/1987 : Change of name from ZEUS LIMITED.

Date of Last Annual Return to Registry

18/05/2011

Registered Objectives

TO CARRY ON BUSINESS AS GENERAL COMMERCIAL COMPANY

Accounts

The last filed accounts at Companies House are those to 30/11/2010

Accounting Reference Date

30/11

 

 

 

 

 

 

Operations

 

 

Activities

Manufacturers of pumps and compressors.

Nace Code

2913

Premises

Rented,Offices,Warehouse,Factory

Staff Employed

42

Import Countries

No Import Activity

Export Countries

No Export Activity

Bankers

HSBC BANK PLC

Address

OLDHAM.

Sort Code

403526

Auditors

Fairhurst

 

 

 

 

Previous Searches

 

Search History Summary

 

Last 3 Months

Last 6 Months

Last 12 Months

1

3

5

 

Search History Details

 

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

 

Date

Description

24/01/2012

Miscellaneous

24/10/2011

Miscellaneous

29/09/2011

Miscellaneous

13/05/2011

Miscellaneous

07/04/2011

Miscellaneous

28/10/2010

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

13

Number Outstanding

5

Number Partially Satisfied

0

Number Satisfied

8

 

 

Date of Latest Mortgage Created

05/07/2010

Date of Latest Satisfaction

07/04/1994

 

 

 

Details of most recent Mortgages, Charges and Satisfactions

 

 

Date Fully
Satisfied

Date
Registered

Date
Created

Charge
Description

Form Type

Lender

 

06/07/2010

05/07/2010

Debenture

MG01

Hsbc Bank Plc

 

29/04/2002

24/04/2002

Legal Mortgage

395

Hsbc Bank Plc

 

25/08/2001

24/08/2001

Fixed Charge On Purchased Debts Which Fail To Vest

395

Hsbc Invoice Finance (Uk) Ltd

 

07/04/1994

29/03/1994

Fixed And Floating Charge

395

Midland Bank Plc

 

07/04/1994

29/03/1994

Legal Charge

395

Midland Bank Plc

26/02/1988

20/05/1987

01/05/1987

Legal Mortgage

N/A

National Westminster Bank Plc

26/02/1988

20/05/1987

01/05/1987

Legal Mortgage

N/A

National Westminster Bank Plc

26/02/1988

 

17/05/1983

Legal Mortgage

N/A

 

26/10/1990

 

18/05/1983

Legal Mortgage

N/A

 

26/10/1990

 

17/05/1983

Legal Mortgage

N/A

 

 

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

 

07/01/2012

Companies House Gazette

Notification of any change among the company's directors

30/11/2011

Companies House Gazette

Notification of any change among the company's directors

10/03/2011

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

22/01/2011

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

17/06/2003

Companies House Gazette

Change among directors of a company

27/03/2003

Companies House Gazette

Change among directors of a company

04/12/1996

Companies House Gazette

Change among directors of a company

04/04/1996

Companies House Gazette

Change among directors of a company

15/12/1995

Companies House Gazette

Change among directors of a company

07/10/1995

Companies House Gazette

Change among directors of a company

03/06/1994

Companies House Gazette

Change among directors of a company

01/06/1994

Companies House Gazette

Change among directors of a company

10/02/1994

Companies House Gazette

Change among directors of a company

09/11/1993

Companies House Gazette

Change among directors of a company

03/06/1993

Companies House Gazette

Change among directors of a company

14/08/1992

Companies House Gazette

Change among directors of a company

16/12/1988

Companies House Gazette

Change among directors of a company

12/06/1987

Companies House Gazette

Change among directors of a company

 

 

 

Company Secretary

 

 

Secretary

ROBERT ARISS

Service Address

DYNAMIC WORKS, ROYTON, OLDHAM, GREATER MANCHESTER, OL2 5JD.

Country of Origin

UNITED KINGDOM

Date of Birth

08/07/1956

Appointment Date

10/02/2003

 

 

 

Directors

 

 

Director

ARTHUR HEAP

Service Address

DYNAMIC WORKS, ROYTON, OLDHAM, GREATER MANCHESTER, OL2 5JD.

Country of Origin

UNITED KINGDOM

Date of Birth

01/03/1953

Appointment Date

01/12/1995


Director


ANDREW HILL

Service Address

DYNAMIC WORKS, ROYTON, OLDHAM, GREATER MANCHESTER, OL2 5JD.

Country of Origin

UNITED KINGDOM

Date of Birth

29/11/1956

Appointment Date

29/04/1991


Director


BENEDETTO JOSE RUSCILLO

Service Address

DYNAMIC WORKS, ROYTON, OLDHAM, GREATER MANCHESTER, OL2 5JD.

Country of Origin

UNITED KINGDOM

Date of Birth

10/03/1964

Appointment Date

01/08/1995


Accountant


ROBERT ARISS

Service Address

DYNAMIC WORKS, ROYTON, OLDHAM, GREATER MANCHESTER, OL2 5JD.

Country of Origin

UNITED KINGDOM

Date of Birth

08/07/1956

Appointment Date

10/02/2003


Director


JOHN DAVID COLES

Service Address

60 CIRCUS MEWS, BATH, SOMERSET, BA1 2PW.

Country of Origin

UNITED KINGDOM

Date of Birth

10/05/1945

Appointment Date

30/11/2011

Other Directorships

HARCOURT COLES LTD


Director


JACK STERLING FLOWERS

Service Address

DYNAMIC WORKS, ROYTON, OLDHAM, GREATER MANCHESTER, OL2 5JD.

Country of Origin

USA

Date of Birth

21/07/1937

Appointment Date

18/06/1991

Other Directorships

SUBMARINE SYSTEMS AND SOLUTIONS LIMITED, NAVAL & NUCLEAR TECHNOLOGIES LIMITED


Director


MR MURRAY SIMPSON EASTON

Service Address

YEW TREE COTTAGE BOUTH, ULVERSTON, CUMBRIA, LA12 8JE.

Country of Origin

UNITED KINGDOM

Date of Birth

07/05/1951

Appointment Date

01/12/2011

Other Directorships

THE HEALTH FOUNDATION, MEDTRUST INNOVATIONS LIMITED, QIRESULTS LIMITED, QILEARNING LIMITED, MURRAY EASTON LIMITED

 

 

 

Share Capital

 

 

Shares

Ordinary GBP 1.00

Issued Number

6,000

Principal Shareholder

6,000 Jack Sterling Flowers

 

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

 

 

 

 

 

 

 

 

 

 

Financial Data– Statutory Accounts

 

 

Profit & Loss Accounts are not available for companies categorised as small companies under the companies act.

 

For annual accounts images, view the

 

Balance Sheet

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

30/11/2010

30/11/2009

30/11/2008

30/11/2007

Currency

GBP

GBP

GBP

GBP

TOTAL FIXED ASSETS

534

556

627

442

Tangible Assets

534

556

627

442

TOTAL CURRENT ASSETS

2265

1737

1464

1413

Trade debtors

793

803

612

492

Stocks

940

667

781

754

Other Current Assets

532

267

71

167

Cash

532

267

71

167

TOTAL ASSETS

2799

2293

2091

1855

TOTAL CURRENT LIABILITIES

792

552

465

356

Trade creditors

792

552

314

356

Short Term Loans

 

 

79

 

Bank Overdraft

 

 

79

 

Other Liabilities

 

 

72

 

WORKING CAPITAL

1473

1185

999

1057

TOTAL LONG TERM LIABS

215

264

173

67

NET ASSETS/(LIABILITIES)

1792

1477

1453

1432

SHARE CAPITAL + RESERVES

1792

1477

1453

1432

Share Cap + Sundry Res

6

1

1

1

Revaluation Reserves

70

70

70

70

Profit and Loss account

1716

1406

1382

1361

SHAREHOLDERS FUNDS

1792

1477

1453

1432

CAPITAL EMPLOYED

2007

1741

1626

1499

 

Financial Comparison

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

30/11/2010

30/11/2009

30/11/2008

30/11/2007

Currency

GBP

GBP

GBP

GBP

Liquid Assets

1325

1070

683

659

Net Working Capital

1473

1185

999

1057

Other Deferred Liabs

215

264

173

67

Tangible Net Worth(T.N.W)

1792

1477

1453

1432

Equity

1792

1477

1453

1432

Number of Years Trading

28

27

26

25

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

30/11/2010

30/11/2009

30/11/2008

30/11/2007

Current Ratio

2.9

3.1

3.1

4

Quick Ratio

1.7

1.9

1.5

1.9

T.N.W/Total Assets%

64

64.4

69.5

77.2

Borrowing Ratio%

 

 

5.4

 

Equity Gearing%

178

181

227.7

338.5

 

 

 

Key Industry Sector Trends

 

 

Year

2011

2010

2009

2008

Sample Size

473

1103

1099

1096

Pre-Tax Profit Margin

6.4

7.7

6.2

8.8

Current Ratio

1.7

1.8

1.8

1.7

Borrowing Ratio

53.6

46.7

66

73.8

Return on Capital

18.6

21.4

19.7

27

Creditors Days

41

43

44

40

 

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Manufacture of machinery for the production and use of mechanical power, except engines

 

 

 

Financial Summary

 

 

Auditors Qualification

The company has taken advantage of exemptions under the Companies Act such that the accounts have not been audited or examined.

 

No Turnover

The company's balance sheet total is less than GBP 5,600,000 and is a medium sized company as defined by the Companies Act. It is not required to disclose turnover but it is likely to be in the range of GBP 2,800,000 - GBP 11,200,000.

 

No Pre-Tax Profit

The Company is exempt from the requirement to file a Profit Loss Account. We note that the difference on the Profit and Loss Account shown on the Balance Sheet is GBP 310,000 increase. This suggests that the Company may have made a post-tax profit of GBP 310,000.

 

Working Capital

The company's working capital has increased by 24 % in the period.

 

Net Worth

Net worth has increased by 21 % and now stands at GBP 1,792,000.

 

Fixed Assets

The subject's fixed assets reduced during the year by GBP 22,000 to GBP 534,000 and are now 19 % of total assets compared with 24 % in the previous year.

 

Long Term Liabilities

The company's long term liabilities reduced during the period by 18 % and are now 12 % of net worth compared with 18 % in the previous period.

 

Long Term Liabilities

Long term liabilities are now 8 % of total liabilities compared with 12 % in the previous period.

 

Long Term Liabilities

Long term liabilities are 11 % of capital employed, a decrease of 4 % over the previous period.

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.49.14

UK Pound

1

Rs.77.86

Euro

1

Rs.66.06

 

 

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

--

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.