MIRA INFORM REPORT
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Report Date : |
10.10.2012 |
IDENTIFICATION DETAILS
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Name : |
PERFORMANCE FLUIDS LTD. |
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Registered Office : |
St Crispin House, St Crispin W, Haslingden, Rossendale, BB4 4PW |
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Country : |
United Kingdom |
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Financials (as on) : |
30.04.2011 |
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Date of Incorporation : |
28.02.2000 |
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Com. Reg. No.: |
03934798 |
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Legal Form : |
Private Parent Company |
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Line of Business : |
Wholesale of chemical products |
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No. of Employees : |
21 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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United
Kingdom |
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 |
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 & address
Performance Fluids Ltd.
Suite 101
Lomeshaye Business Village
Turner Road
Nelson, BB9 7DR
United Kingdom
(Trading Address)
Registered Address
Tel: 01282 878240
Fax: 01282 878241
Web: www.performancefluids.co.uk
Synthesis
Employees: 21
Company Type: Private Parent
Quoted Status: Non-quoted Company
Incorporation Date:
28-Feb-2000
Financials in: USD
(Millions)
Fiscal Year End:
30-Apr-2011
Reporting Currency: British
Pound Sterling
Annual Sales: NA
Total Assets: 2.4
Business
Description
Wholesale of chemical products.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 1899 - Other Basic
Chemical Product Manufacturing Not Elsewhere Classified
NACE 2002: 2466 - Manufacture
of other chemical products not elsewhere classified
NAICS 2002: 325998 - All Other
Miscellaneous Chemical Product and Preparation Manufacturing
UK SIC 2003: 2466 - Manufacture
of other chemical products not elsewhere classified
UK SIC 2007: 2059 - Manufacture
of other chemical products n.e.c.
US SIC 1987: 2899 - Chemicals
and Chemical Preparations, Not Elsewhere Classified
Key
Executives
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Name |
Title |
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Andrew John Robertson |
Director |
financial
Summary
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Registered No.(UK): 03934798
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
Suite 101
Lomeshaye Business Village
Turner Road
Nelson, BB9 7DR
Lancashire County
United Kingdom
Tel: 01282 878240
Fax: 01282 878241
Web: www.performancefluids.co.uk
Sales GBP(mil): NA
Assets GBP(mil): 1.5
Employees: 21
Fiscal Year End: 30-Apr-2011
Industry: Chemical
Manufacturing
Registered
Address:
St Crispin House, St Crispin W
Haslingden
Rossendale, BB4 4PW
United Kingdom
Incorporation Date: 28-Feb-2000
Company Type: Private Parent
Quoted Status: Not Quoted
Registered No.(UK): 03934798
Director: Andrew
John Robertson
Contents
Industry Codes
Business Description
Financial Data
Industry Codes
ANZSIC 2006 Codes:
1899 - Other Basic Chemical Product Manufacturing Not Elsewhere
Classified
6999 - Other Professional, Scientific and Technical Services Not
Elsewhere Classified
NACE 2002 Codes:
2466 - Manufacture of other chemical products not elsewhere
classified
7487 - Other business activities not elsewhere classified
NAICS 2002 Codes:
325998 - All Other Miscellaneous Chemical Product and Preparation
Manufacturing
5619 - Other Support Services
US SIC 1987:
2899 - Chemicals and Chemical Preparations, Not Elsewhere
Classified
7389 - Business Services, Not Elsewhere Classified
UK SIC 2003:
2466 - Manufacture of other chemical products not elsewhere
classified
7487 - Other business activities not elsewhere classified
UK SIC 2007:
2059 - Manufacture of other chemical products n.e.c.
8299 - Other business support service activities n.e.c.
Business
Description
Wholesale of chemical products.
More Business
Descriptions
Lubricating Oils Manufacturers
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Executive
report
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Board of
Directors |
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Director |
Director/Board Member |
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Directors and
Shareholders Report
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Main Office Address: |
Tel: 01282
878240 |
Annual Return Date: 20
Feb 2012 |
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Andrew John |
Current |
03 Jan 1957 |
6 Ball Grove Drive, |
28 Feb 2000 |
NA |
Current:1 |
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John |
Previous |
04 Apr 1954 |
27 Vale Royal Drive, Whitegate, |
28 Feb 2000 |
26 Jul 2005 |
Current:2 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Waterlow Nominees Limited |
Previous |
6-8 Underwood Street, |
28 Feb 2000 |
28 Feb 2000 |
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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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John |
Previous |
04 Apr 1954 |
27 Vale Royal Drive, Whitegate, |
28 Feb 2000 |
26 Jul 2005 |
Current:2 |
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Catherine Jayne |
Previous |
NA |
6 Ball Grove Drive, |
26 Jul 2005 |
09 Sep 2009 |
Current:0 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Waterlow Secretaries Limited |
Previous |
6-8 Underwood Street, |
28 Feb 2000 |
28 Feb 2000 |
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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 |
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Andrew John Robertson |
3750 Ordinary GBP 1.00 |
Ordinary |
3,750 |
1.00 |
3,750.00 |
50.00 |
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Catherine Jayne Robertson |
3750 Ordinary GBP 1.00 |
Ordinary |
3,750 |
1.00 |
3,750.00 |
50.00 |
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Corporate Shareholders |
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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),
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30-Apr-2011 |
30-Apr-2010 |
30-Apr-2009 |
30-Apr-2008 |
30-Apr-2007 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate
(Period Average) |
0.640008 |
0.625491 |
0.607152 |
0.498433 |
0.523688 |
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Consolidated |
No |
No |
No |
No |
No |
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Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Balance Sheet
Financials in: USD (mil)
|
30-Apr-2011 |
30-Apr-2010 |
30-Apr-2009 |
30-Apr-2008 |
30-Apr-2007 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate |
0.599538 |
0.653317 |
0.674855 |
0.50491 |
0.500038 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
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Total Stocks Work In Progress |
0.4 |
0.2 |
0.2 |
0.3 |
0.2 |
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Total Debtors |
0.8 |
0.5 |
0.3 |
0.5 |
0.5 |
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Cash and Equivalents |
1.2 |
0.6 |
0.4 |
0.6 |
0.4 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
2.3 |
1.3 |
0.8 |
1.3 |
1.0 |
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Total Assets |
2.4 |
1.3 |
0.9 |
1.3 |
1.1 |
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Director Loans (Current Liability) |
- |
- |
- |
- |
0.0 |
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Other Current Liabilities |
1.9 |
0.9 |
0.5 |
0.8 |
0.8 |
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Total Current Liabilities |
1.9 |
0.9 |
0.5 |
0.8 |
0.8 |
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Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Issued Capital |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Retained Earnings |
0.6 |
0.5 |
0.4 |
0.5 |
0.3 |
|
Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Shareholders Funds |
0.6 |
0.5 |
0.4 |
0.5 |
0.3 |
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Net Worth |
0.6 |
0.5 |
0.4 |
0.5 |
0.3 |
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 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.640008 |
0.625491 |
0.607152 |
0.498433 |
0.523688 |
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Consolidated |
No |
No |
No |
No |
No |
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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 |
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Consolidated |
No |
No |
No |
No |
No |
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Current Ratio |
1.26 |
1.49 |
1.71 |
1.55 |
1.31 |
|
Liquidity Ratio |
1.05 |
1.29 |
1.34 |
1.24 |
1.10 |
|
Borrowing Ratio |
- |
- |
- |
- |
9.59% |
|
Equity Gearing |
24.07% |
35.74% |
46.01% |
37.83% |
26.44% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.38 |
|
UK Pound |
1 |
Rs.83.99 |
|
Euro |
1 |
Rs.67.99 |
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.