MIRA INFORM REPORT

 

 

Report Date :

21.07.2012

 

IDENTIFICATION DETAILS

 

Name :

GOONVEAN FIBRES LTD.

 

 

Registered Office :

Ottery Moor Lane, Honiton, EX14 1AR, Devon County

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.09.2011

 

 

Date of Incorporation :

15.04.2003

 

 

Com. Reg. No.:

04735337

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Manufacture of made-up textile articles, except apparel

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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 name and address

 

GOONVEAN FIBRES LTD.

Ottery Moor Lane,

Honiton, EX14 1AR,

Devon County

 

Tel:

0140444194

Fax:

0140445102

 

 www.goonveanfibres.com

 

Employees:

NA

Company Type:

Private Subsidiary

Corporate Family:

6 Companies

Ultimate Parent:

Goonvean Holdings Ltd.

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

15-Apr-2003

Auditor:

Francis Clark LLP

Fiscal Year End:

30-Sep-2011

Reporting Currency:

British Pound Sterling

Annual Sales:

NA

Total Assets:

5.3

 

 

Business Description

 

 

Goonvean Fibres Ltd. is a producer of fibre products and speciality powders. The company’s product portfolio includes filtration aids, elastomers, polymers, resins and composites. It also offers a wide range of texturising powders and polymer products. In addition, the company manufactures a modern processing equipment to reduce the size of numerous types of materials, including fibres, films and papers. It maintains an in-house facility that provides maintenance service for battery and electronic test equipment. The company specialises in handling cutting and grinding operations. (Updated by OneSource Information Services)

 

 

Industry

 

 

 

 

Industry

Textiles - Non Apparel

ANZSIC 2006:

133 - Textile Product Manufacturing

NACE 2002:

1740 - Manufacture of made-up textile articles, except apparel

NAICS 2002:

313 - Textile Mills

UK SIC 2003:

1740 - Manufacture of made-up textile articles, except apparel

US SIC 1987:

239 - Miscellaneous Fabricated Textile Products

 

 

Key Executives

 

 

Name

Title

Alan John Martin

Secretary

Evelyn Arthur Hugh Boscawen

Director

Andrew Mcgowan

Director

 

 

 

Financial Summary

 

 

FYE: 30-Sep-2011

USD (mil)

Key Figures

 

Current Assets

4.08

Fixed Assets

1.17

Total Liabilities

0.96

Net Worth

4.28

 

Key Ratios

 

Current Ratio

4.25

Acid Test

3.25

 

 

Registered No.(UK)

 

04735337

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6229723 

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6419309

 

 

Corporate Overview

 

 

Location
Ottery Moor Lane
Honiton, EX14 1AR
Devon County 
United Kingdom

 

Tel:

0140444194

Fax:

0140445102

 

www.goonveanfibres.com

Sales GBP(mil):

NA

Assets GBP(mil):

3.4

Employees:

NA

Fiscal Year End:

30-Sep-2011

 

 

 

Industry:

Textiles - Non Apparel

Registered Address:
St Stephen
St Austell, PL26 7QF
United Kingdom

 

Incorporation Date:

15-Apr-2003

Company Type:

Private Subsidiary

Quoted Status:

Not Quoted

Registered No.(UK):

04735337

 

Secretary:

Alan John Martin

 

 

Industry Codes

 

ANZSIC 2006 Codes:

133

-

Textile Product Manufacturing

 

NACE 2002 Codes:

1740

-

Manufacture of made-up textile articles, except apparel

 

NAICS 2002 Codes:

313

-

Textile Mills

 

US SIC 1987:

239

-

Miscellaneous Fabricated Textile Products

 

UK SIC 2003:

1740

-

Manufacture of made-up textile articles, except apparel

 


Business Description

 

 

Goonvean Fibres Ltd. is a producer of fibre products and speciality powders. The company’s product portfolio includes filtration aids, elastomers, polymers, resins and composites. It also offers a wide range of texturising powders and polymer products. In addition, the company manufactures a modern processing equipment to reduce the size of numerous types of materials, including fibres, films and papers. It maintains an in-house facility that provides maintenance service for battery and electronic test equipment. The company specialises in handling cutting and grinding operations. (Updated by OneSource Information Services)

 

 

 

 

 

 

Financial Data

 

 

Financials in:

GBP(mil)

 

Assets:

3.4

Current Assets:

2.6

 

Fixed Assets:

0.7

 

Long Term Debt:

0.0

 

Total Liabilities:

0.6

 

Issued Capital:

0.0

 

Working Capital:

2.0

 

Net Worth:

2.7

 

 

 

Date of Financial Data:

30-Sep-2011

 

1 Year Growth

NA

 Top

Key Corporate Relationships

Auditor:

Francis Clark LLP

 

Auditor:

Francis Clark LLP

 

 

 

 

 

 

 Top

 

 

 

Corporate Family

Corporate Structure News:

 

Goonvean Holdings Ltd.
Goonvean Fibres Ltd.

Goonvean Fibres Ltd. 
Total Corporate Family Members: 6 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Goonvean Holdings Ltd.

Parent

St Austell

United Kingdom

Commercial Banks

43.4

188

 

Goonvean Ltd.

Subsidiary

St Austell

United Kingdom

Construction - Raw Materials

34.0

156

 

Scientific Services Ltd.

Subsidiary

Derby

United Kingdom

Business Services

 

20

 

Go Test It Ltd.

Subsidiary

St Austell

United Kingdom

Nonclassifiable Industries

 

 

 

Goonvean Fibres Ltd.

Subsidiary

Honiton

United Kingdom

Textiles - Non Apparel

 

 

 

Lewis Industrial Products Ltd.

Subsidiary

St Austell

United Kingdom

Textiles - Non Apparel

 

 

 

 

 

 

 

 

Goonvean Fibres Ltd.

Honiton, , United Kingdom, Tel: 0140444194, URL: http://www.goonveanfibres.com

 

Executives Report

 

Board of Directors

 

Name

Title

Function

 

Evelyn Arthur Hugh Boscawen

 

Director

Director/Board Member

 

Age: 57

 

Andrew Mcgowan

 

Director

Director/Board Member

 

 

Age: 61

 

 

Executives

 

Name

Title

Function

 

Alan John Martin

 

Secretary

Company Secretary

 

Age: 59

 

 

 

Directors and Shareholders Report

 

Main Office Address:
Ottery Moor Lane
Honiton
United Kingdom EX14 1AR

Tel: 0140444194
Fax: 0140445102
URL:http://www.goonveanfibres.com

Annual Return Date: 15 Apr 2012

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Evelyn Arthur Hugh 
Boscawen

Current

13 May 1955

Tregothnan,
Truro, Cornwall TR2 4AN

21 Jul 2003

NA

Current:12
Previous:2
Disqualifications:0

 

Andrew 
Mcgowan

Current

16 May 1951

Fairview 4 Oak Vale, Grampound,
Truro, Cornwall TR2 4QY

30 May 2003

NA

Current:8
Previous:2
Disqualifications:0

 

Howard Hulse 
Monks

Previous

29 Nov 1946

1 Killams Lane, 
Taunton, Somerset TA1 3YA

21 Jul 2003

31 Mar 2005

Current:0
Previous:2
Disqualifications:0

 

James William Albert 
Wallis

Previous

12 Nov 1941

Newlands Cottage, Offwell, 
Honiton, Devon EX14 9SR

01 Feb 2005

30 Nov 2006

Current:0
Previous:2
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

 

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Mantel Nominees Limited

Previous

27 Holywell Row, 
London , London EC2A 4JB

15 Apr 2003

30 May 2003

 

 

 

 

Individual Secretaries

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Alan John 
Martin

Current

12 Dec 1952

34A Kellow Road, St. Dennis, 
St. Austell, Cornwall PL26 8AW

30 May 2003

NA

Current:7
Previous:0
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

 

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Mantel Secretaries Limited

Previous

16 Winchester Walk, 
London , London SE1 9AQ

15 Apr 2003

30 May 2003

 

 

 

 

Individual Shareholders

 

There are no individual shareholders for this company.

 

 

 

 

 

 

 

 

 

 

Corporate Shareholders

 

Company Name

Registration Number

Share Details 
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Goonvean Holdings Ltd

06940012

1 Ordinary GBP 1.00

Ordinary

1

1.00

1.00

100.00

 

 

Goonvean Fibres Ltd.

 

Honiton, United Kingdom, Tel: 0140444194, URL: http://www.goonveanfibres.com

Annual Profit & Loss

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

30-Sep-2011

30-Sep-2010

30-Sep-2009

30-Sep-2008

30-Sep-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.622972

0.64255

0.647882

0.507879

0.508116

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Turnover (UK)

-

-

-

1.8

4.0

Turnover (Exports)

-

-

-

5.6

2.0

Total Turnover

-

-

-

7.4

5.9

Cost of Sales

-

-

-

5.1

3.9

Gross Profit

-

-

-

2.2

2.0

Depreciation

0.1

0.1

0.1

0.1

0.1

Other Expenses

-

-

-

0.8

1.0

Other Income

-

-

-

0.1

0.0

Interest Paid

-

-

-

0.0

0.0

Exceptional Income

-

-

-

0.0

0.0

Discontinued Operations

-

-

-

0.0

0.0

Profit Before Taxes

-

-

-

1.5

1.0

Tax Payable / Credit

-

-

-

0.4

0.3

Extraordinary Items/Debits

-

-

-

0.0

0.0

Dividends

-

-

-

0.0

0.0

Profit After Taxes

-

-

-

1.1

0.7

Minority Interests (Profit & Loss)

-

-

-

0.0

0.0

Audit Fees

-

0.0

0.0

0.0

0.0

Wages

-

-

-

0.4

0.5

Social Security Costs

-

-

-

0.0

0.0

Pensions

-

-

-

0.0

0.0

Other Pension Costs

-

-

-

0.0

0.1

Employees Remuneration

-

-

-

0.5

0.6

Directors Emoluments

-

-

-

0.0

0.0

Other Costs

-

-

-

0.0

0.0

Directors Remuneration

-

-

-

0.0

0.0

Highest Paid Director

-

-

-

0.0

-

 

 

Annual Balance Sheet

 

 

 

Financials in: USD (mil)

 

 

 

30-Sep-2011

30-Sep-2010

30-Sep-2009

30-Sep-2008

30-Sep-2007

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.641931

0.634598

0.625254

0.561026

0.490834

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Land & Buildings

-

1.1

0.6

-

-

Fixtures & Fittings

-

0.0

0.0

-

-

Plant & Vehicles

-

0.2

0.2

-

-

Total Tangible Fixed Assets

1.2

1.2

0.8

0.9

1.1

Intangible Assets

0.0

0.0

0.0

0.0

0.0

Investments

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

1.2

1.2

0.8

0.9

1.1

Stocks

-

-

-

0.8

0.8

Work in Progress

-

-

-

0.0

0.0

Total Stocks Work In Progress

1.0

0.8

0.6

0.8

0.8

Trade Debtors

-

-

-

1.3

1.1

Inter-Company Debtors

-

-

-

0.5

0.0

Director Loans

-

-

-

0.0

0.0

Other Debtors

-

-

-

0.1

0.0

Total Debtors

1.4

1.3

0.9

1.9

1.1

Cash and Equivalents

1.7

2.8

2.8

0.3

0.4

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

4.1

4.9

4.3

3.1

2.3

Total Assets

5.3

6.1

5.1

4.0

3.4

Trade Creditors

-

0.4

0.3

0.4

0.3

Bank Overdraft

-

0.0

0.0

0.0

0.0

Inter-Company Creditors

-

0.8

1.0

0.0

0.1

Director Loans (Current Liability)

-

0.0

0.0

0.0

0.0

Hire Purchase (Current Liability)

-

0.0

0.0

0.0

0.0

Finance Lease (Current Liability)

-

0.0

0.0

0.0

0.0

Total Finance Lease/Hire Purchase (Current Liability)

-

0.0

0.0

0.0

0.0

Total Short Term Loans

-

0.0

0.0

0.0

0.0

Accruals/Deferred Income (Current Liability)

-

0.1

0.1

0.1

0.1

Social Security/VAT

-

0.0

0.0

0.0

0.0

Corporation Tax

-

0.2

0.2

0.3

0.3

Dividends (Current Liability)

-

0.0

0.0

0.0

0.0

Other Current Liabilities

1.0

0.0

0.0

0.0

0.0

Total Current Liabilities

1.0

1.5

1.5

0.8

0.9

Group Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

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

0.0

0.0

0.0

0.0

0.0

Deferred Taxation

-

-

0.0

0.0

-

Other Provisions

0.0

0.0

0.0

0.0

0.1

Total Provisions

0.0

0.0

0.0

0.0

0.1

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

4.3

4.6

3.7

3.2

2.5

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

4.3

4.6

3.7

3.2

2.5

Net Worth

4.3

4.6

3.7

3.2

2.5

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

30-Sep-2011

30-Sep-2010

30-Sep-2009

30-Sep-2008

30-Sep-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.622972

0.64255

0.647882

0.507879

0.508116

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

 

 

30-Sep-2011

30-Sep-2010

30-Sep-2009

30-Sep-2008

30-Sep-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.641931

0.634598

0.625254

0.561026

0.490834

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

4.25

3.23

2.95

3.90

2.69

Liquidity Ratio

3.25

2.71

2.54

2.84

1.81

Stock Turnover

-

-

-

8.04

8.09

Credit Period (Days)

-

-

-

72.76

64.60

Working Capital by Sales

-

-

-

34.26%

23.67%

Trade Credit by Debtors

-

-

-

0.33

0.30

Return on Capital

-

-

-

42.72%

40.33%

Return on Assets

-

-

-

34.32%

30.19%

Profit Margin

-

-

-

20.64%

16.80%

Return on Shareholders Funds

-

-

-

42.72%

41.31%

Borrowing Ratio

-

17.89%

27.15%

-

3.87%

Equity Gearing

81.46%

74.99%

71.25%

80.33%

73.08%

Interest Coverage

-

-

-

104.94

23.01

Sales by Tangible Assets

-

-

-

7.11

5.56

Employee Remuneration by Sales

-

-

-

7.04%

10.31%

Creditor Days (Cost of Sales Based)

-

-

-

34.06

29.22

Creditor Days (Sales Based)

-

-

-

23.68

19.42

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.15

UK Pound

1

Rs.86.57

Euro

1

Rs.67.60

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

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.