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Report Date : |
30.12.2013 |
IDENTIFICATION DETAILS
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Name : |
HUMDINGER LTD. |
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Registered Office : |
Unit |
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Country : |
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Financials (as on) : |
30.04.2012 |
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Date of Incorporation : |
26.06.2001 |
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Com. Reg. No.: |
04241596 |
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Legal Form : |
Private
Subsidiary Company |
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Line of Business : |
·
manufacturer
of value-added snacks including Dairy Free Chocolate, Dried Fruit Nuts,
Oriental Crackers, Seeds & Snack Mixes manufacturer
of private label products for the Subject also supply premium snack solutions for many
famous food brands such as Branston, Guinness, Levi Roots, Marmite and Vimto. |
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No. of Employees : |
183 |
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) |
|
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.
|
Source : CIA |
Humdinger Ltd.
Gothenburg Way
Hull, HU7 0YG
United Kingdom
Tel: 01482625790
Fax: 01482625791
Web: www.humdinger-foods.co.uk
Employees: 183
Company Type: Private Subsidiary
Corporate Family: 19 Companies
Ultimate Parent: Zuckerraffinerie TangermUnde Fr.
Meyers Sohn Holding GmbH
Quoted Status: Non-quoted
Company
Incorporation
Date: 26-Jun-2001
Auditor: Grant
Thornton UK LLP
Financials in: USD (Millions)
Fiscal Year End: 30-Apr-2012
Reporting
Currency: British Pound Sterling
Annual Sales: 64.6 1
Net Income: (0.1)
Total Assets: 25.2
In July 2001, an
ambitious group of individuals left their 9-5s and bought a factory in Hull on
a mission to deliver a range of natural snacks with a difference. The demand
for innovative snacks by far exceeded their expectations and as a result
Humdinger has developed and grown, expanding its portfolio of products and building
a reputation for quality and product innovation. In June 2006, we joined Zetar
as together wed make a bigger difference Now operating across four different
locations in the UK, we manufacture a core range of value-added snacks, which
include: Dairy Free Chocolate Dried Fruit Nuts Oriental Crackers Seeds Snack
Mixes
In addition to
manufacturing private label products for the UK food retailers, we also supply
premium snack solutions for many famous food brands such as Branston, Guinness,
Levi Roots, Marmite and Vimto. Our own range of brands includes Humdinger and
The Fruit Factory.
Industry
Industry
Food Manufacturing
ANZSIC 2006: 1199 - Other Food Product Manufacturing Not
Elsewhere Classified
ISIC Rev 4: 1079 - Manufacture of other food products
n.e.c.
NACE Rev 2: 1089 - Manufacture of other food products
n.e.c.
NAICS 2012: 311999 - All Other Miscellaneous Food
Manufacturing
UK SIC 2007: 1089 - Manufacture of other food products
n.e.c.
US SIC 1987: 2099 - Food Preparations, Not Elsewhere
Classified
|
Name |
Title |
|
Philip Anthony Whitfield |
Managing Director, Director |
|
Nigel Halmshaw |
Financial Director, Director, Secretary |
|
P. Sangwin |
Marketing Director |
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Paul Smith |
IT Manager |
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Clive Henry Beecham |
Director |
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1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.627861
2 - Balance Sheet
Item Exchange Rate: USD 1 = GBP 0.6148738
Location
Gothenburg Way
Hull, HU7 0YG
North Humberside
County
United Kingdom
Tel: 01482625790
Fax: 01482625791
Web: www.humdinger-foods.co.uk
Sales GBP(mil) : 40.5
Assets GBP(mil): 15.5
Employees: 183
Fiscal Year End: 30-Apr-2012
Industry: Food Processing
Registered Address:
Unit 6 Gothenburg
Way
Sutton Fields
Industrial Estate
Hull, HU7 0YG
United Kingdom
Incorporation
Date: 26-Jun-2001
Company Type: Private Subsidiary
Quoted Status: Not Quoted
Registered No.(UK): 04241596
Managing
Director, Director: Philip Anthony
Whitfield
Industry Codes
ANZSIC 2006
Codes:
1199 - Other
Food Product Manufacturing Not Elsewhere Classified
ISIC Rev 4 Codes:
1079 - Manufacture
of other food products n.e.c.
NACE Rev 2 Codes:
1089 - Manufacture
of other food products n.e.c.
NAICS 2012 Codes:
311999 - All
Other Miscellaneous Food Manufacturing
US SIC 1987:
2099 - Food
Preparations, Not Elsewhere Classified
UK SIC 2007:
1089 - Manufacture
of other food products n.e.c.
Business Description
Trading/distributing
food products and the processing and packing of ambientdried food products.
More Business Descriptions
Grocery Products
Whslr
Trading/distributing food products and the
processing and packing of ambientdried food products.
Packing & crating
Food Packers
In July 2001, an
ambitious group of individuals left their 9-5s and bought a factory in Hull on
a mission to deliver a range of natural snacks with a difference. The demand
for innovative snacks by far exceeded their expectations and as a result
Humdinger has developed and grown, expanding its portfolio of products and
building a reputation for quality and product innovation. In June 2006, we
joined Zetar as together wed make a bigger difference Now operating across four
different locations in the UK, we manufacture a core range of value-added
snacks, which include: Dairy Free Chocolate Dried Fruit Nuts Oriental Crackers
Seeds Snack Mixes
In addition to
manufacturing private label products for the UK food retailers, we also supply
premium snack solutions for many famous food brands such as Branston, Guinness,
Levi Roots, Marmite and Vimto. Our own range of brands includes Humdinger and
The Fruit Factory.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.06 |
|
UK Pound |
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
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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 |
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<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.