MIRA INFORM REPORT

 

 

Report Date :

14.09.2012

 

IDENTIFICATION DETAILS

 

Name :

AGRICULTURAL & INDUSTRIAL PARTS CO. LIMITED

 

 

 

 

Registered Office :

9 Wassage Way Hampton Lovett Industrial Esate Droitwich WR9 0XN

 

 

 

 

Country :

United Kingdom

 

 

 

 

Financials (as on) :

30.09.2011

 

 

 

 

Date of Incorporation :

08.08.2007

 

 

 

 

Com. Reg. No.:

06337626

 

 

 

 

Legal Form :

Private limited with Share Capital

 

 

 

 

Line of Business :

Wholesale of Agricultural Machinery, Accessories & Equipment

 

 

 

 

No. of Employees :

Not Available

 

 

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

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

REGISTERED NAME & COMPANY SUMMARY

 

Company Name

AGRICULTURAL & INDUSTRIAL PARTS CO. LIMITED

Company Number

06337626

 

 

 

 

Registered Address

9 WASSAGE WAY

Trading Address

9 Wassage Way
Hampton Lovett Industrial Esate
Droitwich
Heref & Worcs
WR9 0XN

 

HAMPTON LOVETT INDUSTRIAL ESATE

 

 

DROITWICH

 

 

WR9 0XN

 

Website Address

http://www.agrin.co.uk

 

 

Telephone Number

01905795600

Fax Number

 

TPS

No

FPS

No

Incorporation Date

08/08/2007

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private limited with Share Capital

Date of Change

-

Filing Date of Accounts

16/01/2012

 

 

Share Capital

£2,002

SIC03

5188

Currency

GBP

SIC03 Description

WHOLESALE OF AGRICULTURAL MACHIERY, ACCESSORIES & EQUIPMENT

SIC07

46610

SIC07 Description

WHOLESALE OF AGRICULTURAL MACHINERY, EQUIPMENT AND SUPPLIES

Principal Activity

 

 

 

 

DIRECTORS/MANAGEMENT

 

Directors

Total Current Directors

3

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

3

Current Directors

Name

Amanda Jayne Giordano

Date of Birth

25/06/1960

Officers Title

Ms

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

01/01/2008

 

 

Address

Maesmellan,  New Radnor,  Presteigne,  LD8 2TN

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

John Albert Bence

Date of Birth

11/04/1941

Officers Title

Mr

Nationality

British

Present Appointments

6

Function

Director

Appointment Date

08/08/2007

 

 

Address

25 Oakdene,  ,  Ascot,  SL5 0BU

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Steven Clive Collins

Date of Birth

12/07/1965

Officers Title

Mr

Nationality

Australian

Present Appointments

2

Function

Director

Appointment Date

01/01/2008

 

 

Address

5 Honeymans Gardens,  ,  Droitwich,  WR9 9AD

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

Name

Amanda Jayne Giordano

Date of Birth

25/06/1960

Officers Title

Ms

Nationality

British

Present Appointments

4

Function

Company Secretary

Appointment Date

01/12/2007

 

 

Address

Maesmellan,  New Radnor,  Presteigne,  LD8 2TN

 

Directors

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

OAKLEY SECRETARIAL SERVICES LIMITED

130

496

Marcia Jean Ann Bence

0

2

Marcia Jean Ann Bence

0

2

 

NEGATIVE INFORMATION

CCJ

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

Total Number of Writs -

-

 

 

Exact CCJ Details

There are no exact CCJ details

Possible CCJ Details

There are no possible CCJ details

Writ Details

There are no writ details

 

Mortgage Summary

Outstanding

5

Satisfied

1

 

Full CCJ Details

Exact CCJ Details

No CCJs found

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

 

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name

Individual Share Value

JOHN ALBERT BENCE

800 ORDINARY A GBP 1.00

STEVEN CLIVE COLLINS

600 ORDINARY A GBP 1.00

STARFISH ENTERPRISES SA

400 ORDINARY A GBP 1.00

AMANDA JAYNE GIORDANO

200 ORDINARY A GBP 1.00

JOHN ALBERT BENCE

1 ORDINARY B GBP 1.00

STEVEN CLIVE COLLINS

1 ORDINARY C GBP 0.50

AMANDA JAYNE GIORDANO

1 ORDINARY D GBP 0.10

 

PAYMENT INFORMATION

Summary – Payment History

Key Financials

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

30/09/2011

-

-

£373,812

-

30/09/2010

-

-

£220,941

-

30/09/2009

-

-

£152,084

-

 

Payment Information Summary

Days Beyond Terms

Trend Indicator

 

 

8

10

Company DBT

UK Average DBT

Steady

   

Improving Worsening

 

 

 

Trade Debtors / Bad Debt Detail

No Debtor Data

 

Total Value

-

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

AGRICULTURAL & INDUSTRIAL PARTS CO. LIMITED

Ownership Status

Ultimately Owned

Ultimate Holding Company

AGRICULTURAL & INDUSTRIAL PARTS CO. LIMITED

Group structure

Company Name

 

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

AGRICULTURAL & INDUSTRIAL PART...

 

06337626

30.09.2011

N

 

AGRICULTURAL PARTS AND ACCES...

 

05472624

31.08.2011

N

 

 

FINANCIAL INFORMATION

Financials

Profit & Loss

 

Date Of Accounts

30/09/11

(%)

30/09/10

(%)

30/09/09

(%)

30/09/08

(%)

-

Weeks

52

(%)

52

(%)

52

(%)

60

(%)

-

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

-

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

-

Turnover

-

-

-

-

-

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

-

-

-

-

-

-

-

-

-

Depreciation

£8,449

8.6%

£7,778

-16.2%

£9,279

3.5%

£8,966

-

-

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

Balance Sheet

 

Date Of Accounts

30/09/11

(%)

30/09/10

(%)

30/09/09

(%)

30/09/08

(%)

-

Tangible Assets

£91,346

38.3%

£66,038

-5.7%

£70,054

-8.6%

£76,624

-

-

Intangible Assets

0

-

0

-

0

-

0

-

-

Total Fixed Assets

£91,346

38.3%

£66,038

-5.7%

£70,054

-8.6%

£76,624

-

-

Stock

£1,237,505

36.7%

£904,958

32.3%

£683,848

51.1%

£452,557

-

-

Trade Debtors

£1,252,128

37.9%

£907,888

83.8%

£493,889

12.3%

£439,719

-

-

Cash

£123,486

541.7%

£19,244

999.9%

£469

172.7%

£172

-

-

Other Debtors

0

-

0

-

0

-

0

-

-

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

-

Total Current Assets

£2,613,119

42.6%

£1,832,090

55.5%

£1,178,206

32%

£892,448

-

-

Trade Creditors

£1,167,439

101.3%

£579,991

0.7%

£576,176

23.2%

£467,754

-

-

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

-

Other Short Term Finance

0

-

0

-

0

-

0

-

-

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

-

Total Current Liabilities

£1,167,439

101.3%

£579,991

0.7%

£576,176

23.2%

£467,754

-

-

Bank Loans & Overdrafts and LTL

£1,163,214

6%

£1,097,196

111%

£520,000

-

£520,000

-

-

Other Long Term Finance

0

-

0

-

0

-

0

-

-

Total Long Term Liabilities

£1,163,214

6%

£1,097,196

111%

£520,000

-

£520,000

-

-

 

Capital & Reserves

 

Date Of Accounts

30/09/11

(%)

30/09/10

(%)

30/09/09

(%)

30/09/08

(%)

-

Called Up Share Capital

£2,002

-

£2,002

-

£2,002

79.9%

£1,113

-

-

P & L Account Reserve

£252,210

153.9%

£99,339

225.9%

£30,482

254%

-£19,795

-

-

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

£119,600

-

£119,600

-

£119,600

-

-

-

-

Shareholder Funds

£373,812

69.2%

£220,941

45.3%

£152,084

914.1%

-£18,682

-

-

 

Other Financial Items

 

Date Of Accounts

30/09/11

(%)

30/09/10

(%)

30/09/09

(%)

30/09/08

(%)

-

Net Worth

£373,812

69.2%

£220,941

45.3%

£152,084

914.1%

-£18,682

-

-

Working Capital

£1,445,680

15.5%

£1,252,099

108%

£602,030

41.8%

£424,694

-

-

Total Assets

£2,704,465

42.5%

£1,898,128

52.1%

£1,248,260

28.8%

£969,072

-

-

Total Liabilities

£2,330,653

39%

£1,677,187

53%

£1,096,176

11%

£987,754

-

-

Net Assets

£373,812

69.2%

£220,941

45.3%

£152,084

914.1%

-£18,682

-

-

 

Miscellaneous

 

Date Of Accounts

30/09/11

(%)

30/09/10

(%)

30/09/09

(%)

30/09/08

(%)

-

Contingent Liability

NO

-

NO

-

NO

-

NO

-

-

Capital Employed

£1,537,026

16.6%

£1,318,137

96.1%

£672,084

34.1%

£501,318

-

-

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

 

Auditor Comments

The company is exempt from audit

Bankers

 

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

30/09/11

30/09/10

30/09/09

30/09/08

-

Pre-tax profit margin %

-

-

-

-

-

Current ratio

2.24

3.16

2.04

1.91

-

Sales/Net Working Capital

-

-

-

-

-

Gearing %

311.20

496.60

341.90

-2783.40

-

Equity in %

13.80

11.60

12.20

-1.90

-

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

1.17

1.59

0.85

0.94

-

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

3.12

2.62

3.78

-25.03

-

Total Debt Ratio

6.23

7.59

7.20

-52.87

-

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

FOREIGN EXCHANGE RATES

 

Na

 

ADDITIONAL INFORMATION

Commentary

No exact match CCJs are recorded against the company.

There is insufficient data to indicate a change in this companies percentage of sales.

Net Worth increased by 69.2% during the latest trading period.

A 42.5% growth in Total Assets occurred during the latest trading period.

There is insufficient data to indicate a change in this companies pre-tax profit.

The company saw an increase in their Cash Balance of 541.7% during the latest trading period.

The company is exempt from audit.

No recent changes in directorship are recorded.

The company is part of a group.

The positive change in the P&L Account Reserve suggests that the company made a profit after tax and other appropriations.

The company was established over 5 years ago.

 

 

 

Event History

Status History

No Status History found

 

Event History

Date

Description

16/08/2012

Annual Returns

23/01/2012

New Accounts Filed

22/08/2011

Annual Returns

07/03/2011

New Accounts Filed

17/08/2010

Annual Returns

08/02/2010

New Accounts Filed

14/08/2009

Annual Returns

19/01/2009

New Company Secretary Ms A.J. Giordano appointed

04/01/2009

New Accounts Filed

16/09/2008

Annual Returns

16/09/2008

Change in Reg.Office

16/09/2008

Change of Company Postcode

11/02/2008

New Board Member Mr S.C. Collins appointed

30/01/2008

Change in Reg.Office

30/01/2008

Change of Company Postcode

 

Previous Company Names

No Previous Names found

Mortgage Details

Mortgage Type:

LEGAL ASSIGNMENT

Date Charge Created:

17/08/11

 

 

Date Charge Registered:

18/08/11

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

HSBC BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

ANY CREDIT BALANCE DUE UNDER THE CONTRACT (THE CONTRACT MONIES)

 

Mortgage Type:

FIXED CHARGE ON PURCHASED DEBTS WHICH FAIL TO VEST

Date Charge Created:

13/07/11

 

 

Date Charge Registered:

15/07/11

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

HSBC INVOICE FINANCE (UK) LTD (THE SECURITY HOLDER)

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

BY WAY OF FIXED EQUITABLE CHARGE ALL DEBTS PURCHASED OR PURPORTED TO BE PURCHASED BY THE SECURITY HO LDER PURSUANT TO ANAGREEMENT FOR THE PURCHASE OF DEBTS BETWEEN THE SECURITY HOLDER AND THE COMPANY(I NCLUDING ASSOCIATED RIGHTS RELATING THERETO) WHICH FAIL TO VEST EFFECTIVELY OR ABSOLUTELY IN THE SEC URITY HOLDER FOR ANY REASON

 

Mortgage Type:

FLOATING CHARGE (ALL ASSETS)

Date Charge Created:

13/07/11

 

 

Date Charge Registered:

15/07/11

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

HSBC INVOICE FINANCE (UK) LTD (THE SECURITY HOLDER)

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

BY WAY OF FLOATING CHARGE ALL THE UNDERTAKING OF THE COMPANY AND ALL ASSETS WHATSOEVER AND WHERESOEV ER INCLUDING STOCK IN TRADE AND UNCALLED CAPITAL BUT EXCLUDING ANY DEBTS AND ASSOCIATED RIGHTS RELAT ING THERETO

 

Mortgage Type:

DEBENTURE

Date Charge Created:

27/06/11

 

 

Date Charge Registered:

29/06/11

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

HSBC BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLU DING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

 

Mortgage Type:

DEBENTURE

Date Charge Created:

05/01/11

 

 

Date Charge Registered:

08/01/11

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

STARFISH ENTERPRISE S.A.

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE

Details:

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLU DING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, PLANT & MACHINERY. SEE IMAGE FOR FU LL DETAILS

 

Mortgage Type:

DEBENTURE

Date Charge Created:

15/02/08

 

 

Date Charge Registered:

19/02/08

 

 

Date Charge Satisfied:

25/02/12

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

NATIONAL WESTMINSTER BANK PLC

Amount Secured:

 

Details:

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUD ING GOODWILL, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT AND MACHINERY

 

NOTES & COMMENTS

 

Na

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.44

UK Pound

1

Rs.89.31

Euro

1

Rs.71.61

 

 

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.