MIRA INFORM REPORT

 

 

Report Date :           

21.03.2012

 

 

 

Tel. No.:

44 0 20 865 / 4030

Fax No.:

44 0 20 865/0913

 

IDENTIFICATION DETAILS

 

Name :

N.H.G. TIMBER LIMITED

 

 

Formerly Known As :

TURKFAME LIMITED.

 

 

Registered Office :

4 Eagle House Cranleigh Close, Sanderstead, Surrey, Cr2 9lh.

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

26.06.1981

 

 

Com. Reg. No.:

01570409

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Suppliers of timber

 

 

No. of Employees :

08

 

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 113,000

 

 

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 30th, 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

N.H.G. TIMBER LIMITED

Registration Number

01570409

VAT Number

GB344987118

Address

4 EAGLE HOUSE, CRANLEIGH CLOSE, SANDERSTEAD, SURREY, CR2 9LH.

Telephone

020 8651 4030

Facsimile

020 8651 0913

Email

 sales@nhgtimber.co.uk

Web Address

www.nhgtimber.co.uk

 

 

Creditline Recommendations

 

Monthly Credit Guide

GBP 113,000

 

 

Official Company Data

 

Legal Form

Private Limited

Registration Number

01570409

VAT Number

GB344987118

Subject Status

Trading

Date of Incorporation

26/06/1981

Registered Office

4 EAGLE HOUSE CRANLEIGH CLOSE, SANDERSTEAD, SURREY, CR2 9LH.

History

21/06/2007 : The Registered Office address changed from 5TH FLOOR NORTHSIDE HOUSE, 69 TWEEDY ROAD BRO.

 

21/01/2000 : The Registered Office address changed from LYNWOOD HOUSE, CROFTON ROAD, ORPINGTON, KENT,.

 

4/11/1981 : Change of name from TURKFAME LIMITED.

Date of Last Annual Return to Registry

08/06/2011

Accounts

The last filed accounts at Companies House are those to 31/12/2010

Accounting Reference Date

31/12

 

 

Operations

 

Activities

Suppliers of timber.

Nace Code

5170

Premises

Leased,Offices

Staff Employed

8

Import Countries

No Import Activity

Export Countries

No Export Activity

Bankers

BARCLAYS BANK PLC

Address

PO BOX 95, 1 NORTH END, CROYDON, SURREY, CR9 1RN.

Sort Code

202461

Auditors

Barnes Roffe LLP

 

 

Previous Searches

 

Search History Summary

 

Last 3 Months

Last 6 Months

Last 12 Months

1

1

1

 

Search History Details

 

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

 

Date

Description

14/03/2012

Miscellaneous

26/05/2006

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

4

Number Outstanding

4

Number Partially Satisfied

0

Number Satisfied

0

 

 

Date of Latest Mortgage Created

18/02/2010

 

 

 

 

 

 

 

Details of most recent Mortgages, Charges and Satisfactions

 

Date Fully
Satisfied

Date
Registered

Date
Created

Charge
Description

Form Type

Lender

 

02/03/2010

18/02/2010

Deed Of Charge Over Credit Balances

MG01

Barclays Bank Plc

 

07/12/1994

30/11/1994

Legal Charge

395

Barclays Bank Plc

 

17/03/1994

10/03/1994

Fixed And Floating Charge

395

De Lage Landen Factors Limited

 

08/03/1982

26/02/1982

Debenture

N/A

Barclays Bank Ltd

 

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

 

30/04/2011

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

09/02/2010

Companies House Gazette

Notification of any change among the company's directors

04/06/2009

Companies House Gazette

Change among directors of a company

26/07/2003

Companies House Gazette

Change among directors of a company

13/10/1997

Companies House Gazette

Change among directors of a company

07/02/1994

Companies House Gazette

Alteration in memorandum or articles of association

01/02/1993

Companies House Gazette

Alteration in memorandum or articles of association

12/05/1988

Companies House Gazette

Documents delivered by a company under section 241 (annual accounts)

12/10/1987

Companies House Gazette

Change in the situation of a company's registered office

 

 

Company Secretary

 

Secretary

MR DAVID MORRISON

Service Address

4 EAGLE HOUSE, CRANLEIGH CLOSE, SANDERSTEAD, SURREY, CR2 9LH.

Country of Origin

UNITED KINGDOM

Appointment Date

17/06/2011

 

Directors

 

Director

STUART MCBRIDE

Service Address

182 FARLEIGH ROAD, WARLINGHAM, SURREY, CR6 9EE.

Country of Origin

UNITED KINGDOM

Date of Birth

07/10/1965

Appointment Date

01/09/1997


Director


MR NICHOLAS HIGGINBOTTOM GOODWIN

Service Address

CUBBINS, DAIRY LANE CROCKHAM HILL, EDENBRIDGE, KENT, TN8 6RA.

Country of Origin

UNITED KINGDOM

Date of Birth

27/10/1951

Appointment Date

08/06/1992

Other Directorships

WOODLAND HERITAGE LIMITED, NHG HOLDINGS LIMITED


Director


MR JEREMY GUY GOODWIN

Service Address

18 NEWBERY CLOSE, CATERHAM, SURREY, CR3 6GD.

Country of Origin

UNITED KINGDOM

Date of Birth

28/03/1979

Appointment Date

08/04/2009

 

 

Share Capital

 

Shares

Ordinary A GBP 1.00

Issued Number

100,000

Shares

Ordinary B GBP 1.00

Issued Number

1

Principal Shareholder

100,000 NHG Holdings Ltd

 

1 Nicholas Higginbottom Goodwin

 

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

 

Holding Company

NHG HOLDINGS LIMITED

 

 

Financial Data– Statutory Accounts

 

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

 

 

Balance Sheet

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/12/2010

31/12/2009

31/12/2008

31/12/2007

Currency

GBP

GBP

GBP

GBP

TOTAL FIXED ASSETS

116

132

150

136

Tangible Assets

116

132

150

136

TOTAL CURRENT ASSETS

3700

4264

4728

3950

Trade debtors

1636

1641

2755

3887

Stocks

95

24

17

61

Other Current Assets

1969

2599

1956

2

Cash

1969

2599

1956

2

TOTAL ASSETS

3816

4396

4878

4086

TOTAL CURRENT LIABILITIES

1686

2410

2569

2263

Trade creditors

1662

2059

2569

2263

Short Term Loans

24

351

 

 

Bank Overdraft

24

351

 

 

WORKING CAPITAL

2014

1854

2159

1687

NET ASSETS/(LIABILITIES)

2130

1986

2309

1823

SHARE CAPITAL + RESERVES

2130

1986

2309

1823

Share Cap + Sundry Res

100

100

100

100

Profit and Loss account

2030

1886

2209

1723

SHAREHOLDERS FUNDS

2130

1986

2309

1823

CAPITAL EMPLOYED

2130

1986

2309

1823

 

Financial Comparison

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/12/2010

31/12/2009

31/12/2008

31/12/2007

Currency

GBP

GBP

GBP

GBP

Liquid Assets

3605

4240

4711

3889

Net Working Capital

2014

1854

2159

1687

Other Deferred Liabs

 

 

 

 

Tangible Net Worth(T.N.W)

2130

1986

2309

1823

Equity

2130

1986

2309

1823

Number of Years Trading

29

28

27

26

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

31/12/2010

31/12/2009

31/12/2008

31/12/2007

Current Ratio

2.2

1.8

1.8

1.7

Quick Ratio

2.1

1.8

1.8

1.7

T.N.W/Total Assets%

55.8

45.2

47.3

44.6

Borrowing Ratio%

1.1

17.7

 

 

Equity Gearing%

126.3

82.4

89.9

80.6

 

Key Industry Sector Trends

 

Year

2011

2010

2009

2008

Sample Size

593

1679

1580

1508

Pre-Tax Profit Margin

(1.1)

0.5

(0.1)

1.3

Current Ratio

1.8

1.7

1.7

1.7

Borrowing Ratio

66.1

73.3

63.3

10.6

Return on Capital

23.6

28.7

20.3

25.1

Creditors Days

86

120

119

84

 

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Other wholesale

 

 

Financial Summary

 

Auditors Qualification

The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/12/2010.

 

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 144,000 increase. This suggests that the Company may have made a post-tax profit of GBP 144,000.

 

Working Capital

The subject's working capital has improved by 160,000 in the period.

 

Fixed Assets

The subject's fixed assets reduced during the year by GBP 16,000 to GBP 116,000 and are now 3 % of total assets compared with 3 % in the previous year.


FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.25

UK Pound

1

Rs.79.76

Euro

1

Rs.66.52

 

 

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.