MIRA INFORM REPORT

 

 

Report Date :           

28.03.2012

 

IDENTIFICATION DETAILS

 

Name :

CONTACT PACKAGING PLC

 

 

Formerly Known As :

CONTACT PACKAGING LIMITED

 

 

Registered Office :

Laurel House, 173 Chorley New Road, Bolton, Lancs, Bl1 4QZ.

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

16.12.1987

 

 

Com. Reg. No.:

02206066

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

wholesale of packaging materials

 

 

No. of Employees :

22

 

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 31,500

 

 

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 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

CONTACT PACKAGING PLC

Registration Number

02206066

VAT Number

GB597888148

Address

UNIT 12 OLD MILL INDUS ESTATE, BAMBER BRIDGE, PRESTON, LANCASHIRE, PR5 6SY.

Telephone

0870 758 8117

Email

sales@contact-packaging.co.uk

Web Address

www.contact-packaging.co.uk

 

 

Creditline Recommendations

 

Monthly Credit Guide

GBP 31,500

 

 

Official Company Data

 

Legal Form

Public Limited Company

Registration Number

02206066

VAT Number

GB597888148

Subject Status

Trading

Date of Incorporation

16/12/1987

Registered Office

LAUREL HOUSE, 173 CHORLEY NEW ROAD, BOLTON, LANCS, BL1 4QZ.

Head Office

Unit 12 Old Mill Industrial Estate Bamber Bridge Preston PR5 6SY, United Kingdom 

History

27/01/2009 : The Registered Office address changed from GRAFTON HOUSE, 81 CHORLEY OLD ROAD, BOLTON, B.

 

29/01/2002 : The Registered Office address changed from LOSTOCK INDUSTRIAL ESTATE, CRANFIELD ROAD, LO.

 

9/09/1995 : The Registered Office address changed from 27 BRIKSDAL WAY, LOSTOCK, BOLTON, BL6 4PQ.

 

21/07/1995 : Change of name from CONTACT PACKAGING LIMITED.

 

Previously located at RIVINGTON HSE,12/16 CHORLEY NEW RD,HORWICH.

Date of Last Annual Return to Registry

15/05/2011

Accounts

The last filed accounts at Companies House are those to 31/03/2011

Accounting Reference Date

31/03

 

 

Operations

 

Activities

The wholesale of packaging materials.

Nace Code

5156

Premises

Owned,Offices,Factory

Staff Employed

22

Import Countries

No Import Activity

Export Countries

No Export Activity

Bankers

ROYAL BANK OF SCOTLAND PLC

Address

HORWICH.

Sort Code

162132

Auditors

CLB Coopers

 

 

Previous Searches

 

Search History Summary

 

Last 3 Months

Last 6 Months

Last 12 Months

0

0

1

 

Search History Details

 

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

 

Date

Description

17/08/2011

Miscellaneous

08/03/2011

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

8

Number Outstanding

7

Number Partially Satisfied

0

Number Satisfied

1

 

 

Date of Latest Mortgage Created

09/03/2005

Date of Latest Satisfaction

08/03/2005

 

Details of most recent Mortgages, Charges and Satisfactions

 

Date Fully
Satisfied

Date
Registered

Date
Created

Charge
Description

Form Type

Lender

 

15/03/2005

09/03/2005

Legal Charge

395

The Royal Bank Of Scotland Plc

 

06/05/2004

30/04/2004

Fixed And Floating Charge

395

The Royal Bank Of Scotland Commercial Services Limited

 

29/11/2002

25/11/2002

Legal Charge

395

The Royal Bank Of Scotland Plc

 

30/01/2001

26/01/2001

Legal Charge

395

The Royal Bank Of Scotland Plc

 

27/05/1997

16/05/1997

Legal Charge

395

The Royal Bank Of Scotland Plc

 

11/05/1995

05/05/1995

Legal Charge

395

The Royal Bank Of Scotland Plc

08/03/2005

21/04/1995

18/04/1995

First Fixed Charge

395

Alex Lawrie Receivables Financing Limited

 

23/05/1991

10/05/1991

Debenture

N/A

The Royal Bank Of Scotland Plc.

 

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

 

02/07/2005

Companies House Gazette

Return of allotments of a public limited company

17/06/2005

Companies House Gazette

Change among directors of a company

08/06/2005

Companies House Gazette

Change among directors of a company

11/07/1995

Companies House Gazette

Alteration in memorandum or articles of association

15/04/1995

Companies House Gazette

Alteration in memorandum or articles of association

 

 

Company Secretary

 

Secretary

JONATHON COLIN LYNCH

Service Address

23 MAIN STREET, BUCKSHAW VILLAGE EUXTON, CHORLEY, LANCASHIRE, PR7 7AQ.

Country of Origin

UNITED KINGDOM

Date of Birth

11/07/1974

Appointment Date

24/05/2005

Other Directorships

JONCOL PROPERTIES LIMITED, CONTACT PACKAGING (MIDLANDS) LIMITED, CONTACT PACKAGING NORTH WEST LIMITED, CONTACT PACKAGING PRINTED TAPE LIMITED, CONTACT TELECOMS LTD

 

 

Directors

 

Sales Director

JONATHON COLIN LYNCH

Service Address

23 MAIN STREET, BUCKSHAW VILLAGE EUXTON, CHORLEY, LANCASHIRE, PR7 7AQ.

Country of Origin

UNITED KINGDOM

Date of Birth

11/07/1974

Appointment Date

24/05/2005

Other Directorships

JONCOL PROPERTIES LIMITED, CONTACT PACKAGING (MIDLANDS) LIMITED, CONTACT PACKAGING NORTH WEST LIMITED, CONTACT PACKAGING PRINTED TAPE LIMITED, CONTACT TELECOMS LTD


Director


COLIN JOHN LYNCH

Service Address

4 NEW MEADOW, LOSTOCK, BOLTON, BL6 4PB.

Country of Origin

UNITED KINGDOM

Date of Birth

10/04/1951

Appointment Date

15/05/1991

Other Directorships

JONCOL PROPERTIES LIMITED, CAPITOL CLOSE MANAGEMENT COMPANY LIMITED, CONTACT PACKAGING (MIDLANDS) LIMITED, CONTACT PACKAGING NORTH WEST LIMITED, CONTACT PACKAGING PRINTED TAPE LIMITED

 

Share Capital

 

Shares

Ordinary GBP 1.00

Issued Number

50,000

Principal Shareholder

46,400 Colin John Lynch

 

3,600 Jonathon Colin Lynch

 

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

 

 

Financial Data– Statutory Accounts

 

Profit and Loss

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/03/2011

31/03/2010

31/03/2009

31/03/2008

Currency

GBP

GBP

GBP

GBP

SALES

5159

4419

4841

4443

Cost of goods sold

3772

3158

3269

3351

GROSS PROFIT

1387

1261

1572

1092

Wages and Salaries

458

446

531

514

Directors Emoluments

65

64

64

113

Auditors Fees

5

5

5

4

Non-Audit Fees

 

 

3

 

Trading Profit

266

174

346

310

Depreciation

27

32

25

22

OPERATING PROFIT

239

142

321

288

Non Trading Income

 

 

2

10

Interest Payable

3

4

3

2

PRE TAX PROFIT

236

138

320

296

Taxation

57

28

84

44

PROFIT AFTER TAX

179

110

236

252

Dividends Payable

163

208

162

130

RETAINED PROFITS

16

(98)

74

122

 

Balance Sheet

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/03/2011

31/03/2010

31/03/2009

31/03/2008

Currency

GBP

GBP

GBP

GBP

TOTAL FIXED ASSETS

141

143

173

129

Tangible Assets

141

143

173

129

Fixed Assets

141

143

173

129

TOTAL CURRENT ASSETS

1751

1594

1669

1358

Trade debtors

987

876

816

831

Stocks

438

442

464

467

Other Current Assets

326

276

389

60

Misc Current Assets

20

19

57

32

Due From Group

23

21

21

16

Cash

283

236

311

12

TOTAL ASSETS

1892

1737

1842

1487

TOTAL CURRENT LIABILITIES

1590

1457

1440

1194

Trade creditors

687

792

712

803

Short Term Loans

13

28

23

9

Other Finance

6

21

23

9

Due To Directors

7

7

 

 

Other Liabilities

890

637

705

382

WORKING CAPITAL

161

137

229

164

TOTAL LONG TERM LIABS

41

35

60

24

Long Term Loans

16

7

28

2

Other Finance

16

7

28

2

Other Liabilities

25

28

32

22

NET ASSETS/(LIABILITIES)

261

245

342

269

SHARE CAPITAL + RESERVES

261

245

342

269

Share Cap + Sundry Res

78

78

78

78

Issued Share Capital

50

50

50

50

Sundry Reserves

28

28

28

28

Profit and Loss account

183

167

264

191

SHAREHOLDERS FUNDS

261

245

342

269

CAPITAL EMPLOYED

302

280

402

293

 

Financial Comparison

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/03/2011

31/03/2010

31/03/2009

31/03/2008

Currency

GBP

GBP

GBP

GBP

Net Cashflow from Oper.

280

233

528

(436)

Increase in Cash

47

(75)

299

(44)

Directors Remuneration

65

64

64

113

Auditors Remuneration

5

5

5

4

Liquid Assets

1270

1112

1127

843

Net Working Capital

161

137

229

164

Long Term Debt(>12 Months)

16

7

28

2

Other Deferred Liabs

25

28

32

22

Tangible Net Worth(T.N.W)

261

245

342

269

Equity

261

245

342

269

Number of Years Trading

24

23

22

21

Number of Employees

22

22

25

24

Profit per Employee

10727.3

6272.7

12800

12333.3

Sales per Employee

234500

200863.6

193640

185125

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

31/03/2011

31/03/2010

31/03/2009

31/03/2008

Current Ratio

1.1

1.1

1.2

1.1

Long Term Debt/T.N.W

0.1

 

0.1

 

Pre Tax Profit Margin%

4.6

3.1

6.6

6.7

Gross Profit%

26.9

28.5

32.5

24.6

Debtors Days (D.S.O)

70

72

62

68

Creditors Days (D.P.O)

49

65

54

66

Quick Ratio

0.8

0.8

0.8

0.7

W.I.P/Inventory Days

42.4

51.1

51.8

50.9

Return on Investment%

75.9

46.1

76

98.7

Return on Assets%

12.5

7.9

17.4

19.9

T.N.W/Total Assets%

13.8

14.1

18.6

18.1

Return on Capital%

78.1

49.3

79.6

101

Rtn on Shareholders Funds%

90.4

56.3

93.6

110

Working Capital/Sales%

3.1

3.1

4.7

3.7

Borrowing Ratio%

11.1

14.3

14.9

4.1

Equity Gearing%

16

16.4

22.8

22.1

Stock Turnover

11.8

10

10.4

9.5

Days Purchases Outstanding

66.5

91.5

79.5

87.5

Sales/Fixed Assets

36.6

30.9

28

34.4

Debt Gearing

6.1

2.9

8.2

0.7

 

 

Key Industry Sector Trends

 

Year

2011

2010

2009

2008

Sample Size

3151

6434

6455

6537

Pre-Tax Profit Margin

4.3

3.4

2.4

3.4

Current Ratio

1.6

1.6

1.7

1.6

Borrowing Ratio

86.8

101.1

95.6

107.5

Return on Capital

26.2

22.4

21.5

26.9

Creditors Days

54

92

105

49

 

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Wholesale of non-agricultural intermediate products, waste and scrap

 

 

Financial Summary

 

Auditors Qualification

The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/03/2011.

 

Turnover

Turnover has increased by 17 %, a growth of GBP 740,000 in the period.

 

Operating Profit

Totalled GBP 239,000. In the year prior a Profit of GBP 142,000 was achieved.

 

Pre Tax Profit

The subject's profit increased by 71 % in the year.

 

Working Capital

The company's working capital has improved in the period by 18 %.

 

Net Worth

Net worth has increased by 7 % and now stands at GBP 261,000.

 

Fixed Assets

The subject's fixed assets reduced during the year by GBP 2,000 to GBP 141,000 and are now 7 % of total assets compared with 8 % in the previous year.

 

Long Term Liabilities

The company's long term liabilities increased during the period by 17% and are now 16 % of net worth compared with 14 % in the previous period.

 

Long Term Liabilities

Long term liabilities are now 2 % of total liabilities compared with 2 % in the previous period.

 

Long Term Liabilities

Long term liabilities are 14 % of capital employed, an increase of 1 % over the previous period.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.91

UK Pound

1

Rs.81.27

Euro

1

Rs.67.99

 

 

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%)

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.