MIRA
INFORM REPORT
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Report Date : |
19.12.2013 |
IDENTIFICATION DETAILS
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Name : |
GEORGE LANE & SONS LTD |
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Registered Office : |
Bannerley Road,
Birmingham, B33 0SL |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
16.06.1909 |
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Com. Reg. No.: |
00103539 |
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Legal Form : |
Private
Independent Company |
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Line of Business : |
·
Manufacturer
of wire products, chain and springs Manufacturer of Wire Belts & Woven Wire Conveyor Belts |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 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.
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Source : CIA |
Company
name & address
George Lane & Sons
Ltd
Bannerley Road
Birmingham, B33
0SL
United Kingdom
Tel: 01217845525
Fax: 01217836988
Web: www.georgelane.co.uk
synthesis
Employees: 20
Company Type: Private
Independent
Quoted Status: Non-quoted
Company
Incorporation
Date: 16-Jun-1909
Auditor: Eden
Currie Ltd.
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting
Currency: British Pound Sterling
Annual Sales: NA
Total Assets: 1.7
Business
Description
Established in
1878, George Lane & Sons has become a premier manufacturer of Manufacturer
of Wire Belts & Woven Wire Conveyor
Belts. As our business has grown,
we have diversified to supply into many different industries which requires us
to constantly find new and effective methods to meet demanding customer
requirements. We are proud of our reputation for high standards of manufacture,
reliability and customer service and in January 2012, we became an ISO 9001
registered firm. From 23-26 October, we will be exhibiting at Glasstec 2012 -
the international trade fair for glass production, processing and products - at
the Trade Center, Dusseldorf, Germany.
Industry
Industry
Metal Products Manufacturing
ANZSIC 2006: 2291 - Spring and Wire Product
Manufacturing
ISIC Rev 4: 2599 - Manufacture of other fabricated
metal products n.e.c.
NACE Rev 2: 2593 - Manufacture of wire products, chain
and springs
NAICS 2012: 332618 - Other Fabricated Wire Product
Manufacturing
UK SIC 2007: 2593 - Manufacture of wire products, chain
and springs
US SIC 1987: 3496 - Miscellaneous Fabricated Wire
Products
Key
Executives
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Name |
Title |
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John Morris |
Managing Director |
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Nicky lucas |
Accounts Manager |
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Martin Wilde |
Sales Manager |
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Margaret Elizabeth Morris |
Director |
Financial Summary
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1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.6311738
2 - Balance Sheet
Item Exchange Rate: USD 1 = GBP 0.6190609
Corporate
Overview
Location
Bannerley Road
Birmingham, B33
0SL
West Midlands
County
United Kingdom
Tel: 01217845525
Fax: 01217836988
Web: www.georgelane.co.uk
Sales GBP(mil): NA
Assets GBP(mil): 1.0
Employees: 20
Fiscal Year End: 31-Dec-2012
Industry: Miscellaneous Fabricated
Products
Registered Address:
Bannerley Road
Garretts Green
Birmingham, B33
0SL
United Kingdom
Incorporation
Date: 16-Jun-1909
Company Type: Private Independent
Quoted Status: Not Quoted
Previous Name: George Lane & Sons,Ltd.
Registered
No.(UK): 00103539
Managing
Director: John Morris
Industry Codes
ANZSIC 2006 Codes:
2291 - Spring and Wire Product Manufacturing
ISIC Rev 4 Codes:
2599 - Manufacture of other fabricated metal
products n.e.c.
NACE Rev 2 Codes:
2593 - Manufacture of wire products, chain
and springs
NAICS 2012 Codes:
332618 - Other Fabricated Wire Product
Manufacturing
US SIC 1987:
3496 - Miscellaneous
Fabricated Wire Products
UK SIC 2007:
2593 - Manufacture
of wire products, chain and springs
Business Description
Manufacture of
wire products, chain and springs.
More Business Descriptions
Conveyor Belts
and Systems
Established in
1878, George Lane & Sons has become a premier manufacturer of Manufacturer
of Wire Belts & Woven Wire Conveyor
Belts. As our business has
grown, we have diversified to supply into many different industries which
requires us to constantly find new and effective methods to meet demanding
customer requirements. We are proud of our reputation for high standards of
manufacture, reliability and customer service and in January 2012, we became an
ISO 9001 registered firm. From 23-26 October, we will be exhibiting at Glasstec
2012 - the international trade fair for glass production, processing and
products - at the Trade Center, Dusseldorf, Germany.
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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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Executives |
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Managing Director |
Managing Director |
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Accounts Manager |
Accounting Executive |
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Sales Manager |
Sales Executive |
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Directors
and Shareholders Report
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Main Office Address: |
Tel: 01217845525 |
Annual Return Date: 02 May 2013 |
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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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Margaret Elizabeth |
Current |
06 May 1952 |
1192 Warwick Road Copt Heath, Knowle, |
30 Oct 2007 |
NA |
Current:1 |
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John Ward St Lawrence |
Previous |
18 Feb 1952 |
Highmead, 1192 Warwick Road Knowle, |
02 May 1991 |
17 Dec 2004 |
Current:0 |
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Christine Elizabeth St Lawrence |
Previous |
06 Feb 1951 |
Holly House Smithy Lane, Bardsey, |
02 May 1991 |
26 Feb 2003 |
Current:0 |
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Barry |
Previous |
20 Apr 1946 |
23 Hurst Green Road, |
17 Dec 2004 |
30 Oct 2007 |
Current:0 |
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Corporate Directors |
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There are no corporate directors for this company. |
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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 Ward St Lawrence |
Previous |
18 Feb 1952 |
Highmead, 1192 Warwick Road Knowle, |
02 May 1991 |
26 Feb 2003 |
Current:0 |
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Barry |
Previous |
20 Apr 1946 |
23 Hurst Green Road, |
26 Feb 2003 |
17 Dec 2004 |
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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Eccosec Limited |
Current |
Charter House, 49-51 Shirley Road Acocks Green, |
17 Dec 2004 |
NA |
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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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John Ward St Lawrence Morris |
2450 Ordinary GBP 1.00 |
Ordinary |
2,450 |
1.00 |
2,450.00 |
81.67 |
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Trustee Of Ivor St. Lawrence Morris (Trust) |
550 Ordinary GBP 1.00 |
Ordinary |
550 |
1.00 |
550.00 |
18.33 |
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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
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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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) |
0.631174 |
0.623776 |
0.647573 |
0.641508 |
0.545576 |
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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)
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|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.619061 |
0.643459 |
0.638712 |
0.619253 |
0.695531 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.9 |
0.9 |
1.0 |
1.0 |
0.9 |
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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 |
0.9 |
0.9 |
1.0 |
1.0 |
0.9 |
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Total Stocks Work In Progress |
0.1 |
0.2 |
0.3 |
0.3 |
0.2 |
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Total Debtors |
0.6 |
0.4 |
0.4 |
0.3 |
0.6 |
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Cash and Equivalents |
0.0 |
0.0 |
0.1 |
0.0 |
0.1 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
0.8 |
0.6 |
0.7 |
0.7 |
0.9 |
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Total Assets |
1.7 |
1.5 |
1.7 |
1.7 |
1.8 |
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Other Current Liabilities |
0.8 |
0.5 |
0.6 |
0.6 |
0.5 |
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Total Current Liabilities |
0.8 |
0.5 |
0.6 |
0.6 |
0.5 |
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Group Loans (Long Term Liability) |
0.0 |
- |
- |
- |
- |
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Director Loans (Long Term Liability) |
0.0 |
- |
- |
- |
- |
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Hire Purchase (Long Term Liability) |
0.0 |
- |
- |
- |
- |
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Leasing (Long Term Liability) |
0.0 |
- |
- |
- |
- |
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Total Hire Purchase Loans (Long Term Liability) |
0.0 |
- |
- |
- |
- |
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Other Long Term Loans |
0.0 |
- |
- |
- |
- |
|
Accruals/Deferred Income (Long Term Liability) |
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 |
0.8 |
0.8 |
0.8 |
0.9 |
0.8 |
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Retained Earnings |
0.1 |
0.2 |
0.3 |
0.3 |
0.5 |
|
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 |
|
Total Shareholders Funds |
0.9 |
1.0 |
1.1 |
1.1 |
1.3 |
|
Net Worth |
0.9 |
1.0 |
1.1 |
1.1 |
1.3 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
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) |
0.631174 |
0.623776 |
0.647573 |
0.641508 |
0.545576 |
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Consolidated |
No |
No |
No |
No |
No |
|
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Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.619061 |
0.643459 |
0.638712 |
0.619253 |
0.695531 |
|
Consolidated |
No |
No |
No |
No |
No |
|
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|
Current Ratio |
1.00 |
1.18 |
1.24 |
1.27 |
1.70 |
|
Liquidity Ratio |
0.81 |
0.78 |
0.81 |
0.67 |
1.25 |
|
Equity Gearing |
5,377.00% |
6,630.00% |
6,533.00% |
6,684.00% |
6,948.00% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
UK Pound |
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.27 |
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.