MIRA INFORM REPORT

 

 

Report Date :

11.01.2013

 

IDENTIFICATION DETAILS

 

Name :

GOVER, HOROWITZ AND BLUNT LTD.

 

 

Registered Office :

Grosvenor Gardens House, 35-37 Grosvenor Gardens London, SW1W 0BS

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

08.06.1960

 

 

Com. Reg. No.:

00661715

 

 

Legal Form :

Private Independent

 

 

Line of Business :

The company provides products that are used to manufacture mats, ropes and olive oil filters.

 

 

No. of Employees :

10

 

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 :

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

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 and address

 

Gover, Horowitz And Blunt Ltd.

Grosvenor Gardens House

35-37 Grosvenor Gardens

London, SW1W 0BS

United Kingdom

(Trading Address)

Tel:

02076307777

Fax:

02078283867

 

 

Website: www.ghb.co.uk

 

Employees:                   10

Company Type:             Private Independent

Quoted Status:              Non-quoted Company

Incorporation Date: 08-Jun-1960

Auditor:                         Blick Rothenberg

Financials in:                 USD (Mil)

Fiscal Year End:            30-Jun-2011

Reporting Currency:       British Pound Sterling

Annual Sales:                NA

Total Assets:                 5.1

 

 

Business Description

 

Gover, Horowitz And Blunt Ltd. is a family-owned and operated business that offers a variety of brushes and natural fibres. It develops several commodities, such as mattress spring units, pads, bedding components, and carbon, kapok and steel wires. The company provides products that are used to manufacture mats, ropes and olive oil filters. It offers a range of coir yarns in hard, regular and loose twist grades. The company provides products for the water, chemical and food industries. It offers bonded carpet underlay and mattress ticking in various styles and designs. The company also provides cocoterra high stems for indoor and outdoor ornamental plant applications.

 

 

Industry

 

Industry

Miscellaneous Capital Goods

ANZSIC 2006:

3739 - Other Goods Wholesaling Not Elsewhere Classified

NACE 2002:

5118 - Agents specialising in the sale of particular products or ranges of products not elsewhere classified

NAICS 2002:

425120 - Wholesale Trade Agents and Brokers

UK SIC 2003:

5118 - Agents specialising in the sale of particular products or ranges of products not elsewhere classified

UK SIC 2007:

4618 - Agents specialised in the sale of other particular products

US SIC 1987:

5099 - Durable Goods, Not Elsewhere Classified

 

 

Key Executives

 

Name

Title

Christopher John Gasser

Secretary

Stephen Daniel Horowitz

Director

Lucien Marius Horowitz

Director

Rita Horowitz

Director

Terence Martin Keeping

Director

 

 

Financial Summary

 

FYE: 30-Jun-2011

USD (mil)

 

Key Figures

 

Current Assets

5.08

Fixed Assets

0.04

Total Liabilities

3.45

Net Worth

1.67

 

Key Ratios

 

Current Ratio

1.47

Acid Test

1.36

 

Registered No.(UK): 00661715

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6291059

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6228783

 

 

Corporate Overview

 

Location
Grosvenor Gardens House
35-37 Grosvenor Gardens
London, SW1W 0BS
London County
United Kingdom

Tel: 02076307777

Fax: 02078283867

 

www.ghb.co.uk

 

Sales GBP(mil):

NA

Assets GBP(mil):

3.2

Employees:

10

Fiscal Year End:

30-Jun-2011

 

Industry:   Miscellaneous Capital Goods

 

Registered Address:
Grosvenor Gardens House
35 37 Grosvenor Gardens
London, SW1W
United Kingdom

 

Incorporation Date:

08-Jun-1960

Company Type:

Private Independent

Quoted Status:

Not Quoted

Registered No.(UK):

00661715

 

 

Director:

Stephen Daniel Horowitz

 

 

Industry Codes

 

ANZSIC 2006 Codes:

3739

-

Other Goods Wholesaling Not Elsewhere Classified

 

NACE 2002 Codes:

5118

-

Agents specialising in the sale of particular products or ranges of products not elsewhere classified

 

NAICS 2002 Codes:

425120

-

Wholesale Trade Agents and Brokers

 

US SIC 1987:

5099

-

Durable Goods, Not Elsewhere Classified

 

UK SIC 2003:

5118

-

Agents specialising in the sale of particular products or ranges of products not elsewhere classified

 

UK SIC 2007:

4618

-

Agents specialised in the sale of other particular products

 

 

Business Description

 

Gover, Horowitz And Blunt Ltd. is a family-owned and operated business that offers a variety of brushes and natural fibres. It develops several commodities, such as mattress spring units, pads, bedding components, and carbon, kapok and steel wires. The company provides products that are used to manufacture mats, ropes and olive oil filters. It offers a range of coir yarns in hard, regular and loose twist grades. The company provides products for the water, chemical and food industries. It offers bonded carpet underlay and mattress ticking in various styles and designs. The company also provides cocoterra high stems for indoor and outdoor ornamental plant applications.

 

 

More Business Descriptions

 

Gover, Horowitz and Blunt Ltd. is a family-owned company that began operations to trade in coir, coir yarn, brush and other natural fibres. Its portfolio has grown and developed to include a diverse range of commodities, such as activated carbon, kapok, steel wire, mattress spring units, mattress ticking, pads and other bedding components. It produces coir yarn used in the manufacture of mats and matting, rope, geo-textiles and olive oil filters. The company provides buying and selling services on customised trading terms.

 

 

Financial Data

 

Financials in:

GBP(mil)

1 Year Growth

Assets:

3.2

2.4%

Current Assets:

3.2

 

Fixed Assets:

0.0

 

Long Term Debt:

0.0

 

Total Liabilities:

2.2

 

Issued Capital:

0.1

 

Working Capital:

1.0

 

Net Worth:

1.0

 

 

 

Date of Financial Data:

30-Jun-2011

 

 

 

Key Corporate Relationships

 

Auditor:

Blick Rothenberg

 

Auditor History

Blick Rothenberg

30-Jun-2011

Blick Rothenberg

30-Jun-2010

Blick Rothenberg

30-Jun-2009

Blick Rothenberg

30-Jun-2008

Blick Rothenberg

30-Jun-2007

 

 

Board of Directors

 

Name

Title

Function

 

Stephen Daniel Horowitz

 

Director

Director/Board Member

 

Age: 55

 

Rita Horowitz

 

Director

Director/Board Member

 

 

Age: 81

 

Lucien Marius Horowitz

 

Director

Director/Board Member

 

 

Age: 85

 

Terence Martin Keeping

 

Director

Director/Board Member

 

 

Age: 66

 

Matthew Peter Ralph

 

Director

Director/Board Member

 

 

Age: 37

 

 

 

Executives

 

Name

Title

Function

 

Christopher John Gasser

 

Secretary

Company Secretary

 

Age: 51

 

 

 

Directors and Shareholders Report

 

Main Office Address:
Grosvenor Gardens House
35-37 Grosvenor Gardens
London
United Kingdom SW1W 0BS

Tel: 02076307777
Fax: 02078283867
URL: http://www.ghb.co.uk

Annual Return Date: 19 Dec 2011
Total Issued Capital (GBP 000): 50

 

 

INDIVIDUAL DIRECTORS

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

Matthew Peter
Ralph

Current

11 Nov 1975

Lower Ground Floor Flat, 45 Hanley Road,
London , London N4 3DU

01 Jan 2009

NA

Current:1
Previous:1
Disqualifications:0

Christopher John
Gasser

Current

14 Oct 1961

C/O Gover Horowitz And Blunt Limited Grosvenor Ga, 35/37 Grosvenor Gardens,
London , London SW1W OBS

21 Jan 2008

NA

Current:2
Previous:0
Disqualifications:0

Terence Martin
Keeping

Current

20 Jun 1946

C/O Gover Horowitz And Blunt Limited Grosvenor Ga, 35/37 Grosvenor Gardens,
London , London SW1W OBS

19 Dec 1992

NA

Current:1
Previous:0
Disqualifications:0

Stephen Daniel
Horowitz

Current

10 Sep 1957

38 Seymour Walk,
West Brompton, London SW10 9NF

19 Dec 1992

NA

Current:1
Previous:1
Disqualifications:0

Lucien Marius
Horowitz

Current

20 Feb 1927

C/O Gover Horowitz And Blunt Limited Grosvenor Ga, 35/37 Grosvenor Gardens,
London , London SW1W OBS

19 Dec 1992

NA

Current:5
Previous:0
Disqualifications:0

Rita
Horowitz

Current

29 Dec 1931

C/O Gover Horowitz And Blunt Limited Grosvenor Ga, 35/37 Grosvenor Gardens,
London , London SW1W OBS

19 Dec 1992

NA

Current:2
Previous:0
Disqualifications:0

Patrick Adrian
North

Previous

17 Mar 1935

1 Lydekker Mews, Luton Road,
Harpenden, Hertfordshire AL5 2UQ

19 Dec 1992

18 Mar 2000

Current:0
Previous:2
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

Christopher John
Gasser

Current

14 Oct 1961

C/O Gover Horowitz And Blunt Limited Grosvenor Ga, 35/37 Grosvenor Gardens,
London , London SW1W OBS

21 Jan 2008

NA

Current:2
Previous:0
Disqualifications:0

Stephen Daniel
Horowitz

Previous

10 Sep 1957

38 Seymour Walk,
West Brompton, London SW10 9NF

19 Dec 1992

01 Jul 1998

Current:1
Previous:1
Disqualifications:0

Ian Martin
Smith

Previous

NA

9 Upsheres,
Saffron Walden, Essex CB11 3BP

05 Jun 2002

30 Nov 2007

Current:0
Previous:2
Disqualifications:0

Christopher John
Gasser

Previous

NA

5 St Michaels Street,
St. Albans, Hertfordshire AL3 4SP

01 Jul 1998

31 May 2002

Current:0
Previous:1
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

Lucien Marius Horowitz

25250 Ordinary GBP 1.00

Ordinary

25,250

1.00

25,250.00

50.50

Rita Horowitz

1250 Ordinary GBP 1.00

Ordinary

1,250

1.00

1,250.00

2.50

Stephen Daniel Horowitz

23500 Ordinary GBP 1.00

Ordinary

23,500

1.00

23,500.00

47.00

 

 

 

 

 

 

 

 

 

Corporate Shareholders

There are no corporate shareholders for this company.

 

 

Annual Profit & Loss

 

Financials in: USD (mil) 

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

 

 

 

30-Jun-2011

30-Jun-2010

30-Jun-2009

30-Jun-2008

30-Jun-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.629106

0.633607

0.627423

0.499214

0.517836

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Turnover (UK)

-

-

-

9.5

8.5

Turnover (Exports)

-

-

-

5.8

5.0

Total Turnover

-

-

-

15.3

13.6

Cost of Sales

-

-

-

13.8

12.3

Gross Profit

-

-

-

1.5

1.3

Depreciation

0.0

0.0

0.0

0.0

0.0

Other Expenses

-

-

-

1.3

1.6

Operating Profit

-

-

-

0.2

-0.3

Other Income

-

-

-

0.0

0.0

Interest Paid

-

-

-

0.0

0.0

Exceptional Income

-

-

-

0.0

0.0

Discontinued Operations

-

-

-

0.0

0.0

Profit Before Taxes

-

-

-

0.2

-0.3

Tax Payable / Credit

-

-

-

0.0

0.0

Extraordinary Items/Debits

-

-

-

0.0

0.0

Dividends

-

-

-

0.0

0.1

Profit After Taxes

-

-

-

0.2

-0.4

Minority Interests (Profit & Loss)

-

-

-

0.0

0.0

Audit Fees

-

-

-

0.0

0.0

Pensions

-

-

-

0.0

0.0

Directors Emoluments

-

-

-

0.4

0.4

Other Costs

-

-

-

0.0

0.0

Directors Remuneration

-

-

-

0.5

0.4

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

30-Jun-2011

30-Jun-2010

30-Jun-2009

30-Jun-2008

30-Jun-2007

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.622878

0.668405

0.60722

0.502475

0.498418

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Land & Buildings

-

-

-

0.0

0.0

Fixtures & Fittings

-

-

-

0.0

0.0

Plant & Vehicles

-

-

-

0.0

0.0

Total Tangible Fixed Assets

0.0

0.0

0.0

0.0

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

0.0

0.0

0.0

0.0

0.0

Stocks

-

-

-

-

0.0

Work in Progress

-

-

-

-

0.0

Total Stocks Work In Progress

0.4

0.4

0.4

0.1

0.0

Trade Debtors

-

-

-

4.5

4.4

Other Debtors

-

-

-

0.1

0.2

Total Debtors

4.5

3.6

2.8

4.6

4.5

Cash and Equivalents

0.2

0.2

1.4

0.5

0.3

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

5.1

4.1

4.6

5.1

4.8

Total Assets

5.1

4.2

4.6

5.2

4.8

Trade Creditors

-

-

-

3.0

3.0

Bank Overdraft

-

-

-

-

0.0

Social Security/VAT

-

-

-

0.2

0.0

Corporation Tax

-

-

-

0.0

0.0

Other Current Liabilities

3.5

2.8

3.0

0.3

0.2

Total Current Liabilities

3.5

2.8

3.0

3.5

3.3

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

Deferred Taxation

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

0.1

0.1

0.1

0.1

0.1

Share Premium Accounts

0.0

0.0

0.0

0.0

0.0

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

1.6

1.3

1.6

1.6

1.4

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

1.7

1.4

1.7

1.7

1.5

Net Worth

1.7

1.4

1.7

1.7

1.5

 

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

30-Jun-2011

30-Jun-2010

30-Jun-2009

30-Jun-2008

30-Jun-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.629106

0.633607

0.627423

0.499214

0.517836

Consolidated

No

No

No

No

No

 

 

Annual Ratios

 

Financials in: USD (mil)

 

30-Jun-2011

30-Jun-2010

30-Jun-2009

30-Jun-2008

30-Jun-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.622878

0.668405

0.60722

0.502475

0.498418

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

1.47

1.48

1.55

1.48

1.45

Liquidity Ratio

1.36

1.34

1.41

1.46

1.45

Stock Turnover

-

-

-

265.23

-

Credit Period (Days)

-

-

-

108.75

112.67

Working Capital by Sales

-

-

-

10.91%

10.54%

Trade Credit by Debtors

-

-

-

0.65

0.70

Return on Capital

-

-

-

12.08%

-22.71%

Return on Assets

-

-

-

3.94%

-7.15%

Profit Margin

-

-

-

1.34%

-2.45%

Return on Shareholders Funds

-

-

-

12.08%

-22.71%

Equity Gearing

32.60%

32.84%

35.68%

32.66%

31.47%

Interest Coverage

-

-

-

71.41

-62.64

Sales by Tangible Assets

-

-

-

591.40

415.22

Creditor Days (Cost of Sales Based)

-

-

-

78.65

86.73

Creditor Days (Sales Based)

-

-

-

70.94

78.44

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.63

UK Pound

1

Rs.87.50

Euro

1

Rs.71.32

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIT

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.