MIRA INFORM REPORT

 

 

Report Date :

02.11.2012

 

IDENTIFICATION DETAILS

 

Name :

EVENORT LTD.

 

 

Registered Office :

 

Houghton Road North Anston Trading Est North Sheffield, S25 4JJ

 

 

 

 

Country :

United Kingdom

 

 

 

 

Financials (as on) :

30.04.2011

 

 

 

 

Date of Incorporation :

25.05.1982

 

 

 

 

Com. Reg. No.:

01637897

 

 

 

 

Legal Form :

Private Parent

 

 

 

 

Line of Business :

Manufacture other fabricated metal products

 

 

 

 

No. of Employees :

32

 

 

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 :

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

UNITED KINGDOM - ECONOMIC OVERVIEW

 

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aims to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 23% by 2015. The Bank of England (BoE) implemented an asset purchase program of up to £325 billion (approximately $525 billion) as of February 2011. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU).

Source : CIA

Company name and address

 

Top of Form

Bottom of Form

Top of Form

 

Evenort Ltd.

                                                                                                                                               

 

Houghton Road

 

North Anston Trading Est North

Sheffield, S25 4JJ

United Kingdom

(Trading Address)
Registered Address

 

 

Tel:

01909569361

Fax:

01909550631

 

www.evenort.co.uk

 

Employees:

32

Company Type:

Private Parent

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

25-May-1982

Auditor:

Hart Shaw LLP

Financials in:

USD (mil)

 

 

Fiscal Year End:

30-Apr-2011

Reporting Currency:

British Pound Sterling

Annual Sales:

NA

Total Assets:

6.9

                                      

Business Description       

 

Manufacture other fabricated metal products.

 

Industry                  

 

Industry

Iron and Steel

ANZSIC 2006:

2110 - Iron Smelting and Steel Manufacturing

NACE 2002:

2710 - Manufacture of basic iron and steel and of ferro-alloys

NAICS 2002:

331111 - Iron and Steel Mills

UK SIC 2003:

2710 - Manufacture of basic iron and steel and of ferro-alloys

UK SIC 2007:

2410 - Manufacture of basic iron and steel and of ferro-alloys

US SIC 1987:

3312 - Steel Works, Blast Furnaces (Including Coke Ovens), and Rolling Mills

                      

Key Executives           

   

 

Name

Title

Glen Mckay

Sales Director

Deanna Mckay

Secretary

Joseph William Mckay

Director

Craig Mckay

Director

Darren Roberts

Director

 


Financial Summary                                                          

 

FYE: 30-Apr-2011

USD (mil)

Key Figures

 

Current Assets

4.54

Fixed Assets

2.35

Total Liabilities

3.89

Net Worth

2.00

 

Key Ratios

 

Current Ratio

1.17

Acid Test

0.80

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6400078
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.5995383

 

 

Corporate Overview

 

Location
Houghton Road
North Anston Trading Est North
Sheffield, S25 4JJ
South Yorkshire County
United Kingdom

 

Tel:

01909569361

Fax:

01909550631

 

www.evenort.co.uk

Sales GBP(mil):

NA

Assets GBP(mil):

4.1

Employees:

32

Fiscal Year End:

30-Apr-2011

 

Industry:

Iron and Steel

Registered Address:
Houghton Road
North Anston Trading Estate
Dinnington
Sheffield, S25 4JJ
United Kingdom

 

Incorporation Date:

25-May-1982

Company Type:

Private Parent

Quoted Status:

Not Quoted

Registered No.(UK):

01637897

 

Director:

Craig Mckay

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

Industry Codes

 

ANZSIC 2006 Codes:

2110

-

Iron Smelting and Steel Manufacturing

2299

-

Other Fabricated Metal Product Manufacturing Not Elsewhere Classified

 

NACE 2002 Codes:

2710

-

Manufacture of basic iron and steel and of ferro-alloys

2875

-

Manufacture of other fabricated metal products not elsewhere classified

 

NAICS 2002 Codes:

331111

-

Iron and Steel Mills

332999

-

All Other Miscellaneous Fabricated Metal Product Manufacturing

 

US SIC 1987:

3312

-

Steel Works, Blast Furnaces (Including Coke Ovens), and Rolling Mills

3499

-

Fabricated Metal Products, Not Elsewhere Classified

 

UK SIC 2003:

2710

-

Manufacture of basic iron and steel and of ferro-alloys

2875

-

Manufacture of other fabricated metal products not elsewhere classified

 

UK SIC 2007:

2410

-

Manufacture of basic iron and steel and of ferro-alloys

2599

-

Manufacture of other fabricated metal products n.e.c.

 

Business Description

Manufacture other fabricated metal products.

.

More Business Descriptions

Steel Stockholders

 

 

 

 

 

 

Financial Data

 

Financials in:

GBP(mil)

 

Assets:

4.1

Current Assets:

2.7

 

Fixed Assets:

1.4

 

Long Term Debt:

0.5

 

Total Liabilities:

2.8

 

Issued Capital:

0.1

 

Working Capital:

0.4

 

Net Worth:

1.2

 

 

 

Date of Financial Data:

30-Apr-2011

 

1 Year Growth

21.0%

 

 

Key Corporate Relationships

Auditor:

Hart Shaw LLP

 

Auditor:

Hart Shaw LLP

 

 

 

 

 

 

 

 

 

 

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

Craig Mckay

 

Director

Director/Board Member

Age: 42

 

Joseph William Mckay

 

Director

Director/Board Member

 

 

Age: 72

 

Darren Roberts

 

Director

Director/Board Member

 

 

Age: 45

 

 

Executives

 

Name

Title

Function

Deanna Mckay

 

Secretary

Company Secretary

Age: 72

 

Glen Mckay

 

Sales Director

Sales Executive

 

 

Age: 39

 

 

 

Directors and Shareholders Report

Annual Return Date: 23 Mar 2012
Total Issued Capital (GBP 000): 121

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Joseph William
Mckay

Current

08 Mar 1940

Mandaville 113 Kiveton Lane, Todwick,
Sheffield, South Yorkshire S26 1JJ

27 Mar 1991

NA

Current:1
Previous:0
Disqualifications:0

 

Darren
Roberts

Current

06 Dec 1966

Houghton Road, North Anston Trading Estate,
Sheffield, South Yorkshire S25 4JJ

14 Feb 2012

NA

Current:1
Previous:0
Disqualifications:0

 

Glen
Mckay

Current

08 Aug 1973

Mandaville 113 Kiveton Lane, Todwick,
Sheffield, South Yorkshire S26 1JJ

24 Sep 1999

NA

Current:1
Previous:0
Disqualifications:0

 

Craig
Mckay

Current

12 Feb 1970

48 Union Street, Harthill,
Sheffield, South Yorkshire S26 7YH

09 Sep 1998

NA

Current:1
Previous:0
Disqualifications:0

 

Deanna
Mckay

Previous

06 Dec 1939

Mandaville 113 Kiveton Lane, Todwick,
Sheffield, South Yorkshire S26 1JJ

27 Mar 1991

06 Dec 1994

Current:1
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

 

There are no corporate directors for this company.

 

 

Individual Secretaries

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Deanna
Mckay

Current

06 Dec 1939

Mandaville 113 Kiveton Lane, Todwick,
Sheffield, South Yorkshire S26 1JJ

27 Mar 1991

NA

Current:1
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

 

There are no corporate secretaries for this company.

 

 

Individual Shareholders

 

Name

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Craig McKay

30125 Ordinary GBP 1.00

Ordinary

30,125

1.00

30,125.00

24.97

Deanna McKay

30125 Ordinary GBP 1.00

Ordinary

30,125

1.00

30,125.00

24.97

Glen McKay

30125 Ordinary GBP 1.00

Ordinary

30,125

1.00

30,125.00

24.97

Joseph William McKay

30290 Ordinary GBP 1.00

Ordinary

30,290

1.00

30,290.00

25.10

 

 

 

 

 

 

 

 

Corporate Shareholders

 

There are no corporate shareholders for this company.

 

 

 

 

Annual Profit & Loss

 

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

30-Apr-2011

30-Apr-2010

30-Apr-2009

30-Apr-2008

30-Apr-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.640008

0.625491

0.607152

0.498433

0.523688

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Depreciation

0.2

0.3

0.3

0.3

0.3

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

30-Apr-2011

30-Apr-2010

30-Apr-2009

30-Apr-2008

30-Apr-2007

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.599538

0.653317

0.674855

0.50491

0.500038

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Tangible Fixed Assets

1.7

1.3

1.5

1.7

1.5

Intangible Assets

0.0

0.0

0.0

0.0

0.0

Investments

0.6

0.6

0.6

0.5

0.0

Total Fixed Assets

2.4

1.9

2.0

2.2

1.5

Total Stocks Work In Progress

1.4

1.1

1.4

2.1

1.5

Total Debtors

3.1

1.8

1.4

2.3

2.6

Cash and Equivalents

0.0

0.0

0.0

0.0

0.0

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

4.5

2.9

2.8

4.4

4.0

Total Assets

6.9

4.9

4.8

6.6

5.6

Other Current Liabilities

3.9

2.8

2.4

3.1

2.8

Total Current Liabilities

3.9

2.8

2.4

3.1

2.8

Accruals/Deferred Income (Long Term Liability)

0.2

0.2

0.2

0.3

0.2

Other Long Term Liabilities

0.6

0.1

0.5

1.0

0.7

Total Long Term Liabilities

0.8

0.2

0.7

1.3

0.8

Other Provisions

0.3

0.2

0.2

0.3

0.1

Total Provisions

0.3

0.2

0.2

0.3

0.1

Issued Capital

0.2

0.2

0.2

0.2

0.2

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

1.8

1.5

1.4

1.8

1.6

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

2.0

1.6

1.5

2.0

1.8

Net Worth

2.0

1.6

1.5

2.0

1.8

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

30-Apr-2011

30-Apr-2010

30-Apr-2009

30-Apr-2008

30-Apr-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.640008

0.625491

0.607152

0.498433

0.523688

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

 

 

30-Apr-2011

30-Apr-2010

30-Apr-2009

30-Apr-2008

30-Apr-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.599538

0.653317

0.674855

0.50491

0.500038

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

1.17

1.04

1.17

1.43

1.46

Liquidity Ratio

0.80

0.65

0.59

0.74

0.93

Equity Gearing

29.00%

33.57%

32.26%

30.28%

33.04%

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.78

UK Pound

1

Rs.86.77

Euro

1

Rs.69.71

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.