MIRA
INFORM REPORT
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Report Date : |
02.07.2012 |
IDENTIFICATION DETAILS
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Name : |
SIMS GROUP UK LTD. |
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Registered Office : |
Long Marston |
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Country : |
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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
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MIRA’s 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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 add ress
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 |
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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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 |
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Commercial Banks |
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Subsidiary |
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Waste Management Services |
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|
Subsidiary |
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Waste Management Services |
507.7 |
1,020 |
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Subsidiary |
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Commercial Banks |
|
200 |
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Subsidiary |
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Waste Management Services |
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|
Subsidiary |
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Waste Management Services |
136.2 |
115 |
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Subsidiary |
Ashford |
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Nonclassifiable Industries |
1.7 |
38 |
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|
Subsidiary |
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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 |
|
|
|
|
|
|
|
|
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.56.31 |
|
UK Pound |
1 |
Rs.88.06 |
|
Euro |
1 |
Rs.70.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.