MIRA INFORM REPORT

 

 

Report Date :

25.09.2012

 

IDENTIFICATION DETAILS

 

Name :

K. N. PRODUCTS LTD.

 

 

Registered Office :

Unit 48, Enfield Industrial Estate, Redditch, B97 6DE

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

16.02.1983

 

 

Com. Reg. No.:

01700011

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Manufacture of tube connectors and fittings and split cotter pins.

 

 

No. of Employees :

14 employees

 

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 :

Slow

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

 

 

 

 

Company name & address 

 

K. N. Products Ltd.

Unit 48

Enfield Industrial Estate

Redditch, B97 6DE

United Kingdom

Tel:       0152767602

Fax:      0152760183

Web:    www.kn-products.co.uk

           

 

Synthesis

 

Employees:                 14

Company Type: Private Independent

Quoted Status:             Non-quoted Company

Incorporation Date:        16-Feb-1983

Auditor:                                   Rigbey Harrison           

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2011

Reporting Currency:       British Pound Sterling

Annual Sales:               NA

Total Assets:                0.9

 

 

Business Description     

 

Manufacture of tube connectors and fittings and split cotter pins.

 

Industry            

Industry           Miscellaneous Fabricated Products

ANZSIC 2006:   2599 - Other Manufacturing Not Elsewhere Classified

NACE 2002:      3663 - Other manufacturing not elsewhere classified

NAICS 2002:     3399 - Other Miscellaneous Manufacturing

UK SIC 2003:    3663 - Other manufacturing not elsewhere classified

UK SIC 2007:    3299 - Other manufacturing n.e.c.

US SIC 1987:    3999 - Manufacturing Industries, Not Elsewhere Classified

 

           


Key Executives   

 

Name

Title

Lyn Hadley

Finance Director

Linda Ann Hadley

Accounts Manager

Mathew Christopher Tracey

Technical Director

Charlotte Lee Neale

Commercial Director

Ronald Gordon Tracey

Director

 

 

Financial Summary   

 

 

FYE: 31-Dec-2011

USD (mil)

Key Figures

 

Current Assets

0.77

Fixed Assets

0.12

Total Liabilities

0.22

Net Worth

0.67

 

Key Ratios

 

Current Ratio

3.56

Acid Test

1.86

 

 

 

 

Registered No.(UK):                  01700011

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.623776

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6434593

 

 

Corporate Overview

 

Location

Unit 48

Enfield Industrial Estate

Redditch, B97 6DE

Worcestershire County

United Kingdom

Tel:       0152767602

Fax:      0152760183

Web:    www.kn-products.co.uk

           

Sales GBP(mil):             NA

Assets GBP(mil):           0.6

Employees:                  14

Fiscal Year End:            31-Dec-2011

Industry:                       Miscellaneous Fabricated Products

           

Registered Address:

Unit 49

Enfield Industrial Estate

Redditch, B97 6DE

United Kingdom

 

Incorporation Date:        16-Feb-1983

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(UK):      01700011

Director:                       Ronald Gordon Tracey

 

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

2599     -          Other Manufacturing Not Elsewhere Classified

 

NACE 2002 Codes:

3663     -          Other manufacturing not elsewhere classified

 

NAICS 2002 Codes:

3399     -          Other Miscellaneous Manufacturing

 

US SIC 1987:

3999     -          Manufacturing Industries, Not Elsewhere Classified

 

UK SIC 2003:

3663     -          Other manufacturing not elsewhere classified

 

UK SIC 2007:

3299     -          Other manufacturing n.e.c.

 

Business Description

Manufacture of tube connectors and fittings and split cotter pins.

 

More Business Descriptions

Fasteners and Fixings

 

 

 

Financial Data

Financials in:

GBP(mil)

 

Assets:

0.6

Current Assets:

0.5

 

Fixed Assets:

0.1

 

Long Term Debt:

0.0

 

Total Liabilities:

0.1

 

Issued Capital:

0.0

 

Working Capital:

0.4

 

Net Worth:

0.4

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

26.5%

Key Corporate Relationships

Auditor:

Rigbey Harrison

 

Auditor:

Rigbey Harrison

 

 

 

 

 

 

 

 

 

Executive report  

 

Board of Directors

 

Name

Title

Function

 

Ronald Gordon Tracey

 

Director

Director/Board Member

 

Age: 84

 

 

 

Executives

 

Name

Title

Function

 

Lyn Hadley

 

Finance Director

Finance Executive

 

Linda Ann Hadley

 

Accounts Manager

Accounting Executive

 

Age: 63

 

Mathew Christopher Tracey

 

Technical Director

Engineering/Technical Executive

 

 

Age: 38

 

Charlotte Lee Neale

 

Commercial Director

Commercial Executive

 

 

Age: 36

 







Directors and Shareholders Report

 

Main Office Address:
Unit 48
Enfield Industrial Estate
Redditch
United Kingdom B97 6DE

Tel: 0152767602
Fax: 0152760183
URL: http://www.kn-products.co.uk

Annual Return Date: 13 Sep 2011
Total Issued Capital (GBP 000): 25

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Linda Ann 
Hadley

Current

14 Sep 1949

Unit 49 Enfield Industrial Estate, 
Redditch, Worcestershire B97 6DE

09 May 1995

NA

Current:1
Previous:0
Disqualifications:0

 

Charlotte Lee 
Neale

Current

05 May 1976

Unit 50, Enfield Industrial Estate, 
Redditch, Worcestershire B97 6DE

29 Apr 2005

NA

Current:4
Previous:0
Disqualifications:0

 

Mathew Christopher
Tracey

Current

17 Apr 1974

Unit 50, Enfield Industrial Estate, 
Redditch, Worcestershire B97 6DE

29 Apr 2005

NA

Current:3
Previous:0
Disqualifications:0

 

Colin James 
Lyte

Previous

04 May 1944

25 Colebrook Croft, Shirley, 
Solihull, West Midlands B90 2JD

13 Sep 1992

26 Nov 2004

Current:0
Previous:1
Disqualifications:0

 

Albert Ernest 
Turner

Previous

23 Sep 1939

10 Wythall Road, Hasbury, 
Halesowen, West Midlands B63 4QR

13 Sep 1992

30 Sep 2004

Current:0
Previous:1
Disqualifications:0

 

John Alan 
Wheeler

Previous

12 Jul 1921

2 Marlbrook Lane, Marlbrook, 
Bromsgrove, Worcestershire B60 1HN

13 Sep 1992

01 Mar 1999

Current:0
Previous:3
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

 

John Alan 
Wheeler

Previous

12 Jul 1921

2 Marlbrook Lane, Marlbrook, 
Bromsgrove, Worcestershire B60 1HN

13 Sep 1992

14 May 1999

Current:0
Previous:3
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

Charlotte Neale

25 Redeemable Non,Voting Ordinary GBP 1.00

Redeemable Non,Voting Ordinary

25

1.00

25.00

0.10

Linda Hadley

25 Redeemable Non,Voting Ordinary GBP 1.00

Redeemable Non,Voting Ordinary

25

1.00

25.00

0.10

Mathew Tracey

25 Redeemable Non,Voting Ordinary GBP 1.00

Redeemable Non,Voting Ordinary

25

1.00

25.00

0.10

Trustees Of The Aaron Trust

24000 Ordinary GBP 1.00

Ordinary

24,000

1.00

24,000.00

95.71

 

 

 

 

 

 

 

 

Corporate Shareholders

Company Name

Registration Number

Share Details 
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Pinstructure Ltd

01580637

1000 Ordinary GBP 1.00

Ordinary

1,000

1.00

1,000.00

3.99

 

 

 

Annual Profit & Loss

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.623776

0.647573

0.641508

0.545576

0.499878

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Depreciation

0.0

0.0

0.0

0.0

0.0

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.643459

0.638712

0.619253

0.695531

0.502361

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Tangible Fixed Assets

0.1

0.1

0.1

0.1

0.0

Intangible Assets

0.0

0.0

0.0

0.0

0.0

Investments

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

0.1

0.1

0.2

0.2

0.0

Total Stocks Work In Progress

0.4

0.3

0.4

0.3

0.4

Total Debtors

0.3

0.3

0.2

0.2

0.3

Cash and Equivalents

0.1

0.1

0.1

0.0

0.2

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

0.8

0.8

0.7

0.6

1.0

Total Assets

0.9

0.9

0.8

0.7

1.1

Other Current Liabilities

0.2

0.2

0.2

0.2

0.3

Total Current Liabilities

0.2

0.2

0.2

0.2

0.3

Group Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Director Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Hire Purchase (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Leasing (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Total Hire Purchase Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Loans

0.0

0.0

0.0

0.0

0.0

Accruals/Deferred Income (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Liabilities

0.0

0.0

0.0

0.0

0.0

Total Long Term Liabilities

0.0

0.0

0.0

0.0

0.0

Other Provisions

0.0

0.0

0.0

0.0

0.0

Total Provisions

0.0

0.0

0.0

0.0

0.0

Issued Capital

0.0

0.0

0.0

0.0

0.0

Share Premium Accounts

0.0

0.0

0.0

0.0

0.0

Revaluation Reserve

0.1

0.1

0.1

0.1

0.1

Retained Earnings

0.6

0.6

0.5

0.4

0.6

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

0.7

0.7

0.6

0.5

0.7

Net Worth

0.7

0.6

0.6

0.5

0.7

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.623776

0.647573

0.641508

0.545576

0.499878

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.643459

0.638712

0.619253

0.695531

0.502361

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

3.56

3.19

3.61

2.87

3.21

Liquidity Ratio

1.86

1.87

1.65

1.15

1.81

Equity Gearing

74.99%

72.32%

76.36%

71.44%

69.89%

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.29

UK Pound

1

Rs.86.44

Euro

1

Rs.68.95

 

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%)

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.