|
Report Date : |
16.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
MALLINCKRODT CHEMICAL LIMITED |
|
|
|
|
Formerly Known
As : |
MALLINCKRODT SPECIALTY CHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
Perth House Millennium Way Chesterfield S41 8nd S43 3rw |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as
on) : |
30.09.2011 |
|
|
|
|
Date of
Incorporation : |
11.08.1987 |
|
|
|
|
Com. Reg. No.: |
02154127 |
|
|
|
|
Legal Form : |
Private limited
with Share Capital |
|
|
|
|
Line of Business
: |
Manufactures and distributes products used in diagnostic procedures
and in the treatment of pain and related conditions |
|
|
|
|
No. of Employees
: |
79 |
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 : |
Unknown |
|
|
|
|
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 second largest economy in Europe after Germany. 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 aimed 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 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of up to £375 billion (approximately $605 billion) as of December 2012. 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). In 2012, weak consumer spending and subdued business investment weighed on the economy. GDP fell 0.1%, and the budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued to increase.
|
Source : CIA |
MALLINCKRODT CHEMICAL LIMITED
Address PERTH HOUSE MILLENNIUM WAY
CHESTERFIELD
S41 8ND
S43 3RW
United Kingdom
Telephone +44 012 4656 1200
Company Number: 02154127
Foundation: 11/08/1987
Status: Financial Statements too old
VAT Number: GB 509491825
Legal form Private limited
with Share Capital
Foundation 11/08/1987
Company No. 02154127
Date of Change Previous Name
01/07/1994 MALLINCKRODT SPECIALTY
CHEMICALS LIMITED
30/10/1992 MALLINCKRODT
SPECIALTY CHEMICALS (U.K.) LIMITED
14/07/1989 FRIES & FRIES
LIMITED
|
Name |
Currency |
Number
of shares |
Share type |
Nominal value |
|
MALLINCKRODT CHEMICAL
HOLDINGS (UK) LTD |
GBP |
11,933,134 |
ORDINARY |
1 |
|
Total Share Capital |
|
|
|
GBP
11,933,134 |
|
Directors |
||||
|
Name |
Address: |
Date of birth |
Nationality |
Appointment date |
|
Mr Alan Cotton Mr Dean Leslie Erdal |
3 Hazlehurst, Hasland,
Chesterfield, Derbyshire S41 OLD Perth
House Millennium Way, Chesterfield S41 8ND |
12/09/1958 02/10/1956 |
British American |
11/01/2005 08/09/2013 |
|
Company Secretary |
||
|
Name |
Address: |
Appointment
date |
|
TMF CORPORATE
ADMINISTRATION SERVICES LIMITED |
5th
Floor, 6 St Andrew Street, London EC4A 3AE |
06/04/2015 |
Perth House Millennium Way, Hall Lane,
Staveley, Chesterfield, Derbyshire S43 3RW
|
Company No. |
|
Status |
Country |
|
Ultimate parent |
|
|
|
|
|
|||
|
lb4bbdBt> |
UUVIUIbN
MUbLIU LI Ml I bU UUIVIrAN Y |
Active |
Ireland |
|
|
|||
|
|
|
|
|
|
- |
COVIDIEN
HOLDINGS IRELAND LIMITED |
Other |
Ireland |
|
- |
COVIDIEN
FINANCE IRELAND LIMITED |
Other |
Ireland |
|
- |
Covidien
Group S.a r.l. |
Active |
Luxembourg |
|
- |
A&E
KARNER LIMITED |
Non Trading |
United
Kingdom |
|
- |
CDKU.K.
LIMITED |
Active |
United
Kingdom |
|
- |
COVIDIEN HEALTHCARE HOLDING UK LIMITED |
Active |
United
Kingdom |
|
- |
COVIDIEN
(UK) COMMERCIAL LIMITED |
Active |
United
Kingdom |
|
- |
MALLINCKRODT
UK COMMERCIAL LTD |
Active |
United
Kingdom |
|
- |
EV3 LIMITED |
Active |
United
Kingdom |
|
- |
ARGYLE
MEDICAL INDUSTRIES(U.K.)LIMITED |
Non Trading |
United
Kingdom |
|
- |
COVIDIEN UK
LIMITED |
Active |
United
Kingdom |
|
- |
COMFORTA
HEALTHCARE LTD |
Non Trading |
United
Kingdom |
|
- |
COVIDIEN
(UK) MANUFACTURING LIMITED |
Non Trading |
United
Kingdom |
|
- |
GANMILL
LIMITED |
Non Trading |
United
Kingdom |
|
- |
PRYORAND HOWARD
(1988) LIMITED |
Non Trading |
United
Kingdom |
|
- |
COVIDIEN UK
HOLDING LTD |
Other |
United
Kingdom |
|
- |
TISSUE
SCIENCE LABORATORIES LIMITED |
Other |
United
Kingdom |
|
- |
M.S.C.H.
INCORPORATED |
Active |
USA |
|
- |
MALLINCKRODT MEDICAL ARGENTINA LIMITED |
Other |
United
Kingdom |
|
- |
MALLINCKRODT MEDICAL HOLDINGS (UK) LIMITED |
Other |
United
Kingdom |
|
- |
MALLINCKRODT
UK LTD |
Non Trading |
United
Kingdom |
|
- |
MKG MEDICAL
UK LTD |
Non Trading |
United
Kingdom |
|
- |
NELLCOR
PURITAN BENNETT IRELAND |
Other |
Ireland |
|
- |
COVIDIEN
IRELAND COMMERCIAL LIMITED |
Active |
Ireland |
|
- |
MALLINCKRODT INTERNATIONAL FINANCIAL SERVICES
COMPANY |
Active |
Ireland |
|
- |
MALLINCKRODT MEDICAL IMAGING -IRELAND |
Other |
Ireland |
|
- |
COVIDIEN
IRELAND LIMITED |
Active |
Ireland |
|
- |
COVIDIEN
SERVICES EUROPE LIMITED |
Active |
Ireland |
|
- |
AUTO SUTURE
U.K. LIMITED |
Non Trading |
United
Kingdom |
|
- |
INBRAND
HOLDINGS LIMITED |
Non Trading |
United
Kingdom |
|
- |
ADVANCED ABSORBENT PRODUCTS
HOLDINGS LIMITED |
Non Trading |
United
Kingdom |
|
- |
INBRAND
LIMITED |
Non Trading |
United
Kingdom |
|
- |
INBRAND UK
LIMITED |
Non Trading |
United
Kingdom |
|
Immediate parent |
|
|
|
|
|
|
|
|
02678467 MALLINCKRODT
CHEMICAL HOLDINGS (U.K.) Non Trading United Kingdom LIMITED
Main activity
Manufactures
and distributes products used in diagnostic procedures and in the treatment of
pain and related conditions
Turnover and Employees
Date of Accounts Turnover
Employees
25/09/2009 GBP
71,569,000 79
24/09/2010 GBP
65,862,000 77
30/09/2011 GBP
72,593,000 79
Banks
|
Bank Name |
Bank Branch Sort Code |
|
BARCLAYS BANK PLC |
20-53-30 |
Auditor
Auditor
name DELOITTE LLP
|
Events |
|
|
Company history Date 08/08/2008 |
New Accounts Filed |
|
02/02/2009 |
Mr D. Timson has resigned as company secretary |
|
15/02/2009 |
Annual Returns |
|
12/08/2009 |
New Accounts Filed |
|
12/08/2009 |
New Accounts Filed |
|
01/02/2010 |
Annual Returns |
|
14/04/2010 |
New Company Secretary Ms R. Dennis appointed |
|
20/07/2010 |
New Accounts Filed |
|
29/01/2011 |
Annual Returns |
|
02/02/2011 |
Mr D.J. Haag has left the board |
|
11/04/2011 |
New Accounts Filed |
|
28/07/2011 |
New Board Member R.J. Snell appointed |
|
04/02/2012 |
Annual Returns |
|
06/08/2012 |
New Accounts Filed |
|
03/10/2012 |
Change in Reg.Office |
|
14/11/2012 |
R.J. Snell has left the board |
|
14/11/2012 |
Ms R.I. Abbott has resigned as company secretary |
|
14/11/2012 |
New Company Secretary Mrs J.C. Pascucci appointed |
|
15/11/2012 |
New Board Member Mr D.L. Erdal appointed |
|
08/02/2013 |
Annual Returns |
|
08/07/2013 |
Mrs J.C. Pascucci has resigned as company secretary |
|
08/07/2013 |
New Company Secretary TMF CORPORATE ADMINISTRATION SERVIC
appointed |
County Court Judgments (CCJs)
There are no County Court Judgments listed against this company
Profit
& Loss
|
|
30/09/2011 |
24/09/2010 |
25/09/2009 |
|
|
53 |
53 |
53 |
|
|
GBP |
GBP |
GBP |
|
|
Group: No |
Group: No |
Group: No |
|
Revenue
(Turnover) |
72,593,000 |
65,862,000 |
71,569,000 |
|
Export |
58,582,000 |
53,142,000 |
61,048,000 |
|
Cost of
sales |
65,037,000 |
56,385,000 |
55,989,000 |
|
Gross
Profit |
7,556,000 |
9,477,000 |
15,580,000 |
|
Operating
Costs |
71,157,000 |
61,553,000 |
63,444,000 |
|
Wages And
Salaries |
2,934,000 |
2,833,000 |
3,140,000 |
|
Pension
Costs |
459,000 |
904,000 |
538,000 |
|
Directors
Emoluments |
183,000 |
300,000 |
300,000 |
|
Operating
Profit |
1,436,000 |
4,309,000 |
8,125,000 |
|
Depreciation |
753,000 |
812,000 |
819,000 |
|
Amortisation |
0 |
0 |
0 |
|
Financial
Expenses |
0 |
0 |
0 |
|
Profit
Before Tax |
-7,892,000 |
4,311,000 |
8,271,000 |
|
Tax |
4,000 |
-368,000 |
-2,377,000 |
|
Profit
After Tax |
-7,888,000 |
3,943,000 |
5,894,000 |
|
Dividends |
0 |
0 |
0 |
|
Minority
Interests |
0 |
0 |
0 |
|
Other Appropriations |
0 |
0 |
0 |
|
Retained
Profit |
-7,888,000 |
3,943,000 |
5,894,000 |
Balance
Sheet
|
|
53 GBP Group: No |
24/09/2010 53 GBP Group: No |
25/09/2009 53 GBP Group: No |
|
Total Tangible Assets |
1,756,000 |
6,437,000 |
6,318,000 |
|
Total Intangible Assets |
0 |
0 |
0 |
|
Total Other Fixed Assets |
0 |
0 |
0 |
|
Total Fixed Assets |
1,756,000 |
6,437,000 |
6,318,000 |
|
Total Inventories |
12,284,000 |
11,415,000 |
9,973,000 |
|
Trade Receivables |
11,353,000 |
11,001,000 |
10,195,000 |
|
Miscellaneous Receivables |
26,843,000 |
22,772,000 |
30,970,000 |
|
Total Receivables |
38,196,000 |
33,773,000 |
41,165,000 |
|
Cash |
0 |
0 |
0 |
|
Other Current Assets |
0 |
0 |
0 |
|
Total Current Assets |
50,480,000 |
45,188,000 |
51,138,000 |
|
Total Assets |
52,236,000 |
51,625,000 |
57,456,000 |
|
Trade Payables |
1,003,000 |
414,000 |
1,880,000 |
|
Bank Liabilities |
23,000 |
252,000 |
484,000 |
|
Other Loans Or Finance |
8,429,000 |
6,015,000 |
11,491,000 |
|
Miscellaneous Liabilities |
3,926,000 |
3,180,000 |
5,535,000 |
|
Short Term HP
Finance Lease Liabilities |
0 |
0 |
0 |
|
Total Current Liabilities |
13,381,000 |
9,861,000 |
19,390,000 |
|
Bank Liabilities Due
After 1 Year |
0 |
0 |
0 |
|
Other Loans Or Finance Due
After 1 Year |
0 |
0 |
0 |
|
Miscellaneous Liabilities Due After 1 Year |
6,492,000 |
1,513,000 |
1,891,000 |
|
Total Long Term Liabilities |
6,492,000 |
1,513,000 |
1,891,000 |
|
Total Liabilities |
19,873,000 |
11,374,000 |
21,281,000 |
|
Called Up Share
Capital |
11,933,000 |
11,933,000 |
11,933,000 |
|
Revenue Reserves |
16,430,000 |
24,318,000 |
20,242,000 |
|
Other Reserves |
4,000,000 |
4,000,000 |
4,000,000 |
|
Total Shareholders Equity |
32,363,000 |
40,251,000 |
36,175,000 |
Financial Ratios
|
|
30/09/2011 |
24/09/2010 |
25/09/2009 |
|
Pre Tax Profit
Margin |
- 10.87 |
6.55 |
11.56 |
|
Return On Capital
Employed |
-20.31 |
10.32 |
21.72 |
|
Return On Total Assets Employed |
-15.10 |
8.35 |
14.39 |
|
Return On Net
Assets Employed |
-24.38 |
10.71 |
22.86 |
|
Sales Or Net Working
Capital |
1.96 |
1.86 |
2.25 |
|
Stock Turnover Ratio |
16.92 |
17.33 |
13.93 |
|
Debtor Days |
58.02 |
60.79 |
50.85 |
|
Creditor Days |
5.12 |
2.28 |
9.37 |
|
Current Ratio |
3.77 |
4.58 |
2.64 |
|
Liquidity Ratio Or Acid Test |
2.85 |
3.42 |
2.12 |
|
Current Debt Ratio |
0.41 |
0.24 |
0.53 |
|
Gearing |
20.13 |
4.38 |
6.57 |
|
Equity In Percentage |
61.96 |
77.97 |
62.96 |
|
Total Debt Ratio |
0.61 |
0.28 |
0.58 |
Remarks
No up to date financial details have been
filed. The 2011/2012 accounts should have been filed by 30.06.2013. In July
2013 Mallinckrodt the pharmaceuticals business was separated from Covidien Pic
group to become an independent group. Remains to be seen how it develops under
the new structure. Mallinckrodt employs over 5,500 people globally and has
Annual revenues in excess of USD 2 billion
Trading Address Confirmed: Perth House
Millennium Way, Hall Lane, Staveley, Chesterfield, Derbyshire S43 3RW
Branches: Worldwide
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.51 |
|
|
1 |
Rs.94.98 |
|
Euro |
1 |
Rs.81.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.