MIRA
INFORM REPORT
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Report Date : |
12.09.2012 |
IDENTIFICATION DETAILS
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Name : |
AUGUS ENGINEERING LTD. |
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Registered Office : |
22 Boulton Industrial Centre, |
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Country : |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
11.02.1997 |
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Com. Reg. No.: |
03316481 |
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Legal Form : |
Private Independent |
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Line of Business : |
Manufacture of tools |
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No. of Employees : |
8 |
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 and delayed |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 and address
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Augus Engineering Ltd. |
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Employees: |
8 |
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Company Type: |
Private Independent |
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Quoted Status: |
Non-quoted Company |
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Incorporation Date: |
11-Feb-1997 |
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Fiscal Year End: |
30-Jun-2011 |
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Reporting Currency: |
British Pound Sterling |
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Annual Sales: |
NA |
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Total Assets: |
0.3 |
Business Description
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Tool Repair Services |
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Industry |
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Industry |
Personal
and Household Products |
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ANZSIC
2006: |
2299
- Other Fabricated Metal Product Manufacturing Not Elsewhere Classified |
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NACE
2002: |
2862
- Manufacture of tools |
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NAICS
2002: |
332212
- Hand and Edge Tool Manufacturing |
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UK
SIC 2003: |
2862
- Manufacture of tools |
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UK
SIC 2007: |
2573
- Manufacture of tools |
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US
SIC 1987: |
342
- Cutlery, Handtools, and General Hardware |
Key Executives
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Financial Summary
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Registered No.(UK)
03316481
1 - Profit & Loss
Item Exchange Rate: USD 1 = GBP 0.6291059
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6228783
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Industry Codes
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Directors and Shareholders Report
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Main Office Address: |
Tel: 0121 523 9103 |
Annual
Return Date: 11 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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Current |
21 Jun 1955 |
Unit 22 Icknield Street, Hockley, |
11 Feb 1997 |
NA |
Current:2 |
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Current |
17 Aug 1961 |
Unit 22 Icknield Street, Hockley, |
11 Feb 1997 |
NA |
Current:1 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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London Law Services Limited |
Previous |
84 Temple Chambers, Temple Avenue, |
11 Feb 1997 |
11 Feb 1997 |
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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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Current |
21 Jun 1955 |
Unit 22 Icknield Street, Hockley, |
11 Feb 1997 |
NA |
Current:2 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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London Law Secretarial Limited |
Previous |
84 Temple Chambers, Temple Avenue, |
11 Feb 1997 |
11 Feb 1997 |
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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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Gillian Jane Cartwright |
1 Ordinary GBP 1.00 |
Ordinary |
1 |
1.00 |
1.00 |
50.00 |
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Steven William Cartwright |
1 Ordinary GBP 1.00 |
Ordinary |
1 |
1.00 |
1.00 |
50.00 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
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Annual
Profit & Loss
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Financials
in: USD (mil) |
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Except for share items (millions) and per share items
(actual units) |
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30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
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Period
Length |
12
Months |
12
Months |
12
Months |
12
Months |
12
Months |
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Filed
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange
Rate (Period Average) |
0.629106 |
0.633607 |
0.627423 |
0.499214 |
0.517836 |
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Consolidated |
No |
No |
No |
No |
No |
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Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Annual Balance Sheet |
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Financials
in: USD (mil) |
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30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
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Filed
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange
Rate |
0.622878 |
0.668405 |
0.60722 |
0.502475 |
0.498418 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
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Intangible Assets |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
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Total Stocks |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
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Trade Debtors |
0.1 |
0.1 |
0.1 |
0.2 |
0.2 |
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Cash and Equivalents |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
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Total Assets |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
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Trade Creditors |
0.2 |
0.2 |
0.2 |
0.3 |
0.2 |
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Bank Overdraft |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Bank Loan Overdrafts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Director Loans |
0.0 |
- |
0.0 |
0.0 |
0.0 |
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Total Short Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Current Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Working Capital |
0.0 |
0.0 |
0.0 |
0.0 |
-0.1 |
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Total Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Liabilities |
0.1 |
0.0 |
0.0 |
0.1 |
0.1 |
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Total Long Term Liabilities |
0.1 |
0.0 |
0.0 |
0.1 |
0.1 |
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Issued Capital |
0.0 |
- |
- |
- |
- |
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Retained Earnings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Shareholders Funds |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Net Worth |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Annual Cash Flows |
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Financials
in: USD (mil) |
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|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
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Period
Length |
12 Months |
12
Months |
12
Months |
12
Months |
12
Months |
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Filed
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange
Rate (Period Average) |
0.629106 |
0.633607 |
0.627423 |
0.499214 |
0.517836 |
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Consolidated |
No |
No |
No |
No |
No |
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Paid Up Equity |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Annual Ratios |
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30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
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Period
Length |
12
Months |
12
Months |
12
Months |
12
Months |
12
Months |
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Filed
Currency |
- |
- |
- |
- |
- |
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Exchange
Rate |
- |
- |
- |
- |
- |
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Consolidated |
No |
No |
No |
No |
No |
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Current Ratio |
0.81 |
0.88 |
0.84 |
0.82 |
0.79 |
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Liquidity Ratio |
0.60 |
0.68 |
0.64 |
0.66 |
0.63 |
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Solvency Ratio |
4.42% |
6.48% |
3.53% |
1.73% |
4.12% |
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Current Debt Ratio |
17.81 |
12.32 |
24.24 |
46.80 |
17.73 |
|
Long Term Debt Ratio |
0.79 |
0.68 |
0.76 |
0.91 |
0.85 |
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Total Debt Ratio |
21.62 |
14.43 |
27.36 |
56.80 |
23.25 |
|
Debt Asset Ratio |
78.75% |
79.84% |
85.46% |
80.97% |
73.12% |
|
Working Finance |
380.18% |
514.28% |
653.73% |
383.49% |
255.37% |
|
Stock Financing |
-1.13 |
-1.70 |
-1.26 |
-0.86 |
-0.82 |
|
Fixed Asset Investment |
0.36 |
0.30 |
0.28 |
0.34 |
0.42 |
|
Shareholder Liquidity |
0.26 |
0.47 |
0.32 |
0.10 |
0.18 |
|
Stock to Total Assets |
600.90% |
616.62% |
589.07% |
793.38% |
817.33% |
|
Financial Strength Ratio |
5.22 |
3.67 |
4.61 |
11.48 |
6.94 |
|
Reserve Movement |
-28.72% |
107.97% |
94.73% |
-58.72% |
265.69% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.52 |
|
|
1 |
Rs.88.84 |
|
Euro |
1 |
Rs.70.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.