MIRA INFORM REPORT

 

 

Report Date :

26.06.2013

 

IDENTIFICATION DETAILS

 

Name :

LOUIS FRASER LTD 

 

 

Registered Office :

Arbor House, Bakers, Broadway North, Walsall, WS1 2AN

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.05.2012

 

 

Date of Incorporation :

26.04.2005

 

 

Com. Reg. No.:

05436347

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

supplier of architectural hardware

 

 

No. of Employees :

02

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 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

 

 

Company name & address

 

Louis Fraser Ltd

Alcester Road

Wootton Wawen

Solihull, B95 6HJ

United Kingdom

(Trading Address)

Tel:       0845 003 7522

Web:    www.louisfraser.co.uk

           

Operating Address

4 The Courtyard,
Wootton Park Business Centre
Alcester Road
Wootton Wawen
Warwickshire
B95 6HJ

 

 

Synthesis

 

Employees:                  2

Company Type:            Private Independent

Quoted Status:             Non-quoted Company

Incorporation Date:         26-Apr-2005     

Financials in:                 USD (Millions)

Fiscal Year End:            31-May-2012

Reporting Currency:       British Pound Sterling

Annual Sales:                NA

Total Assets:                0.2

 

 

Business Description     

 

Louis Fraser specialises in traditional architectural hardware but with an innovative approach. An extensive range of products and finishes, from oil rubbed bronze through to antique pewter, compliment both period and contemporary surroundings, yet deal with the expectations of modern living in today's society. Architectural Hardware From Louis Fraser Louis Fraser is the UK's foremost supplier of architectural hardware. We understand that your house is your pride and joy - that's why all our architectural hardware products are carefully selected to add those extra special touches that make a house a home. Our extensive collection of door knobs, knockers, cabinet pulls, window casement fasteners and accessories are manufactured to the highest specifications, ensuring that they are both beautiful and durable. Our amazing array of architectural hardware incorporates: Door hardware, including knockers, handles and letter plates Hinges & hinge fronts, including strap hinges Gate hardware, including rig handles and gate latches Window hardware, including antique and smooth casement fasteners Cabinet hardware, including knobs, handles and pulls Miscellaneous accessories including hooks All our stunning architectural hardware is available in a range of styles and finishes including: Oil rubbed bronze - Cast from solid bronze, it develops its own unique patina over time Antique pewter - Cast from malleable iron and chemically treated and polished Dull black - Cast iron with a traditional dip paint matt black finish Our choice of attractive finishes means you can select architectural hardware that will perfectly compliment your decor. All our products are designed to look stunning in both period and contemporary surroundings and manufactured to withstand the wear and tear of modern living; incorporating the beauty of the old with high spec modern design and manufacture. We know our customers expect the best - so we only supply the very best architectural hardware products. Browse our site to view our comprehensive collection. We're positive that you'll discover door handles, knockers, latches, hinges and hooks that are just what you're looking for. If you would like to know more about the amazing range of architectural hardware at Louis Fraser then contact us today.

 

Industry             

Industry            Business Services

ANZSIC 2006:    6999 - Other Professional, Scientific and Technical Services Not Elsewhere Classified

NACE 2002:      7487 - Other business activities not elsewhere classified

NAICS 2002:     561990 - All Other Support Services

UK SIC 2003:    74879 - Other business activities not elsewhere classified

UK SIC 2007:    74909 - Other professional, scientific and technical activities (not including environmental

consultancy or quantity surveying) n.e.c.

US SIC 1987:    7389 - Business Services, Not Elsewhere Classified

 

           

Key Executives   

 

Name                                       Title    

Lee Harvey Kilmister                  Manager           

 

 

Financial Summary    

 

 

FYE: 31-May-2012

USD (mil)

Key Figures

 

Current Assets

0.24

Fixed Assets

0.0085

Total Liabilities

0.0000

Net Worth

-0.04

 

Key Ratios

 

Current Ratio

1.01

Liquidity Ratio

0.31

 

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6291588

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6443334

 

 

Corporate Overview

 

Location

Alcester Road

Wootton Wawen

Solihull, B95 6HJ

West Midlands County

United Kingdom

Tel:       0845 003 7522

Web     www.louisfraser.co.uk

           

Sales GBP(mil):             NA

Assets GBP(mil):           0.2

Employees:                   2

Fiscal Year End:            31-May-2012

Industry:                        Business Services

           

Registered Address:

Arbor House, Bakers

Broadway North

Walsall, WS1 2AN

United Kingdom

 

Incorporation Date:         26-Apr-2005

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(UK):       05436347

Manager:                       Lee Harvey Kilmister

 

Industry Codes

ANZSIC 2006 Codes:

6999     -          Other Professional, Scientific and Technical Services Not Elsewhere Classified

 

NACE 2002 Codes:

7487     -          Other business activities not elsewhere classified

 

NAICS 2002 Codes:

561990  -          All Other Support Services

 

US SIC 1987:

7389     -          Business Services, Not Elsewhere Classified

 

UK SIC 2003:

74879   -          Other business activities not elsewhere classified

 

UK SIC 2007:

74909   -          Other professional, scientific and technical activities (not including environmental consultancy or quantity surveying) n.e.c.

Business Description

Office administrative, office support an

 

More Business Descriptions

Door and Window Furniture

 

Louis Fraser specialises in traditional architectural hardware but with an innovative approach. An extensive range of products and finishes, from oil rubbed bronze through to antique pewter, compliment both period and contemporary surroundings, yet deal with the expectations of modern living in today's society. Architectural Hardware From Louis Fraser Louis Fraser is the UK's foremost supplier of architectural hardware. We understand that your house is your pride and joy - that's why all our architectural hardware products are carefully selected to add those extra special touches that make a house a home. Our extensive collection of door knobs, knockers, cabinet pulls, window casement fasteners and accessories are manufactured to the highest specifications, ensuring that they are both beautiful and durable. Our amazing array of architectural hardware incorporates: Door hardware, including knockers, handles and letter plates Hinges & hinge fronts, including strap hinges Gate hardware, including rig handles and gate latches Window hardware, including antique and smooth casement fasteners Cabinet hardware, including knobs, handles and pulls Miscellaneous accessories including hooks All our stunning architectural hardware is available in a range of styles and finishes including: Oil rubbed bronze - Cast from solid bronze, it develops its own unique patina over time Antique pewter - Cast from malleable iron and chemically treated and polished Dull black - Cast iron with a traditional dip paint matt black finish Our choice of attractive finishes means you can select architectural hardware that will perfectly compliment your decor. All our products are designed to look stunning in both period and contemporary surroundings and manufactured to withstand the wear and tear of modern living; incorporating the beauty of the old with high spec modern design and manufacture. We know our customers expect the best - so we only supply the very best architectural hardware products. Browse our site to view our comprehensive collection. We're positive that you'll discover door handles, knockers, latches, hinges and hooks that are just what you're looking for. If you would like to know more about the amazing range of architectural hardware at Louis Fraser then contact us today.

 

Financial Data

Financials in:

GBP(mil)

 

Assets:

0.2

Current Assets:

0.2

 

Fixed Assets:

0.0

 

Long Term Debt:

0.0

 

Issued Capital:

0.0

 

Working Capital:

0.0

 

Net Worth:

0.0

 

 

 

Date of Financial Data:

31-May-2012

 

1 Year Growth

NA

 

Key Corporate Relationships

Bank:

Hsbc Bank Plc

 

 

 

 

GBP(mil)

Audit Fees:

0.0

Audit Fiscal Year:

05-31-2012

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Lee Harvey Kilmister

 

Manager

Director/Board Member

 

Age: 49

 

 

Executives

 

Name

Title

Function

 

Lee Harvey Kilmister

 

Manager

Company Secretary

 

Age: 49

 

 

 

Directors and Shareholders Report

 

Main Office Address:
Alcester Road
Solihull
United Kingdom B95 6HJ

Tel: 0845 003 7522
URL:http://www.louisfraser.co.uk

Annual Return Date: 16 Apr 2013

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Lee Harvey 
Kilmister

Current

25 Apr 1964

12 Addison Drive, 
Stratford-Upon-Avon, Warwickshire CV37 7PL

26 Apr 2005

NA

Current:2
Previous:2
Disqualifications:0

 

Stewart John 
Kent

Previous

21 May 1959

171 High Street, Henley In Arden, 
Henley-In-Arden, West Midlands B95 5BA

26 Apr 2005

23 Dec 2011

Current:1
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

 

 

Company Name

Status

Registered Address

Appointment Date

Resignation Date

 

Form 10 Directors Fd Limited

Previous

39A Leicester Road, Salford, 
Salford, Greater Manchester M7 4AS

26 Apr 2005

27 Apr 2005

 

 

 

 

 

 

 

Individual Secretaries

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Lee Harvey 
Kilmister

Current

25 Apr 1964

12 Addison Drive, 
Stratford-Upon-Avon, Warwickshire CV37 7PL

26 Apr 2005

NA

Current:2
Previous:2
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Form 10 Secretaries Fd Limited

Previous

1St Floor 47, Bury New Road Prestwich, 
Manchester, Greater Manchester M25 9JY

26 Apr 2005

27 Apr 2005

 

 

 

Individual Shareholders

Name

Share Details 
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Jitendra Vishnu

1 Ordinary GBP 1.00

Ordinary

1

1.00

1.00

25.00

Lee Harvey A Kilmister

2 Ordinary GBP 1.00

Ordinary

2

1.00

2.00

50.00

Rajeev Kumar Malik

1 Ordinary GBP 1.00

Ordinary

1

1.00

1.00

25.00

 

 

 

 

 

 

 

 

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)           

 

 

 

31-May-2012

31-May-2011

31-May-2010

31-May-2009

31-May-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.629159

0.634143

0.6282

0.61899

0.498857

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Audit Fees

0.0

0.0

0.0

0.0

0.0

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-May-2012

31-May-2011

31-May-2010

31-May-2009

31-May-2008

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.644333

0.607552

0.688255

0.620136

0.506022

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Tangible Fixed Assets

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

0.0

0.0

0.0

0.0

0.0

Total Stocks

0.2

0.1

0.1

0.1

0.1

Trade Debtors

0.1

0.1

0.1

0.1

0.1

Cash and Equivalents

0.0

0.0

0.0

-

-

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

0.2

0.2

0.2

0.2

0.2

Total Assets

0.2

0.2

0.2

0.2

0.2

Trade Creditors

0.2

0.2

0.2

0.2

0.2

Bank Overdraft

0.0

0.0

0.0

0.0

0.0

Bank Loan Overdrafts

0.0

0.0

0.0

0.0

0.0

Director Loans

-

-

-

-

0.0

Other Bank Loans (Current Liability)

-

-

-

0.0

0.0

Total Short Term Loans

0.0

0.0

0.0

0.0

0.0

Other Current Liabilities

0.0

0.0

0.0

0.0

0.0

Total Current Liabilities

0.0

0.0

0.0

0.0

0.0

Working Capital

0.0

0.0

0.0

-0.1

-0.1

Total Long Term Loans

0.0

0.0

0.0

0.0

0.0

Other Long Term Liabilities

0.1

0.1

0.0

0.1

0.1

Total Long Term Liabilities

0.1

0.1

0.0

0.1

0.1

Issued Capital

0.0

-

-

-

-

Retained Earnings

0.0

-0.1

-0.1

-0.1

-0.1

Total Reserve

0.0

-0.1

-0.1

-0.1

-0.1

Total Shareholders Funds

0.0

-0.1

-0.1

-0.1

-0.1

Net Worth

0.0

-0.1

-0.1

-0.1

-0.1

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-May-2012

31-May-2011

31-May-2010

31-May-2009

31-May-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.629159

0.634143

0.6282

0.61899

0.498857

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Paid Up Equity

0.0

0.0

0.0

0.0

0.0

 

 

Annual Ratios

 

 

 

 

31-May-2012

31-May-2011

31-May-2010

31-May-2009

31-May-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

-

-

-

-

-

Exchange Rate

-

-

-

-

-

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

1.01

1.06

0.83

0.76

0.79

Liquidity Ratio

0.31

0.39

0.41

0.39

0.38

Solvency Ratio

-16.48%

-23.51%

-36.49%

-46.97%

-45.82%

Current Debt Ratio

-5.79

-3.80

-3.08

-2.55

-2.46

Long Term Debt Ratio

4.54

3.20

-1.92

-1.37

-2.63

Total Debt Ratio

-7.07

-5.25

-3.74

-3.13

-3.18

Debt Asset Ratio

95.35%

89.31%

112.48%

119.78%

112.61%

Working Finance

456.77%

277.44%

386.94%

334.75%

268.71%

Stock Financing

57.88

10.76

-2.39

-1.54

-1.98

Fixed Asset Investment

0.04

0.05

0.07

0.09

0.11

Shareholder Liquidity

-0.78

-0.69

-1.52

-1.73

-1.38

Stock to Total Assets

149.75%

166.84%

213.93%

226.10%

216.34%

Financial Strength Ratio

0.04

0.00

0.58

0.57

0.45

Reserve Movement

-19.37%

-28.83%

-18.00%

4.55%

64.28%

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.70

UK Pound

1

Rs.92.25

Euro

1

Rs.78.38

 

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.