|
Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
CENTURION EUROPE LTD. |
|
|
|
|
Registered Office : |
Hunt Lane Bentley Doncaster, DN5 9SE |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
03.07.1984 |
|
|
|
|
Com. Reg. No.: |
01829619 |
|
|
|
|
Legal Form : |
Private Subsidiary |
|
|
|
|
Line of Business : |
Wholesaling of general hardware and the manufacture and design of signs and signage products |
|
|
|
|
No. of Employees : |
91 |
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 : |
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
Centurion Europe
Ltd.
|
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Business
Description
|
Wholesaling of general hardware and the manufacture and design of
signs and signage products. |
Industry
|
Industry |
|
|
ANZSIC 2006: |
|
|
NACE 2002: |
5154 - Wholesale of hardware, plumbing and heating
equipment and supplies |
|
NAICS 2002: |
4237 - Hardware, and Plumbing and Heating Equipment
and Supplies Merchant Wholesalers |
|
UK SIC 2003: |
5154 - Wholesale of hardware, plumbing and heating
equipment and supplies |
|
UK SIC 2007: |
4674 - Wholesale of hardware, plumbing and heating
equipment and supplies |
|
US SIC 1987: |
Key Executives
|
Financial
Summary
|
||||||||||||||||||||
1 - Profit & Loss
Item Exchange Rate: USD 1 = GBP 0.623776
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6434593
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Centurion Europe
Ltd. |
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Doncaster |
United Kingdom |
Business Services |
12.8 |
91 |
|
|
Subsidiary |
Doncaster |
United Kingdom |
Miscellaneous Capital Goods |
12.8 |
91 |
Executives Report
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Return Date: 23 Dec 2012
Total Issued Capital (GBP 000): 10
|
Individual Directors |
|||||||
|
|
|||||||
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
22 Sep 1968 |
79 Brecks Lane, Kirk Sandall, |
26 Aug 1999 |
NA |
Current:6 |
|
|
|
Current |
28 Aug 1976 |
Plaice Hills Farm, North Lane Sykehouse, |
25 Jun 2003 |
NA |
Current:3 |
|
|
|
Current |
17 Apr 1944 |
Bridge House, Kirk Lane Sykehouse, |
23 Oct 2003 |
NA |
Current:4 |
|
|
|
Previous |
13 Sep 1950 |
15 Checkstone Ave, Bessacarr, |
01 Jan 1996 |
12 Nov 1996 |
Current:0 |
|
|
|
Previous |
27 Jan 1929 |
40 Tatenhill Gardens, Cantley, |
23 Dec 1991 |
01 Jan 1996 |
Current:0 |
|
|
|
Previous |
13 Oct 1961 |
Plaice Hills Farm, North Lane Sykehouse, |
01 Apr 1996 |
21 Aug 2006 |
Current:0 |
|
|
|
Previous |
05 Apr 1950 |
Plaice Hills Farm, North Lane Sykehouse, |
23 Dec 1991 |
21 Aug 2006 |
Current: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 |
|
|
Current |
22 Sep 1968 |
79 Brecks Lane, Kirk Sandall, |
21 Aug 2006 |
NA |
Current:6 |
|
|
|
Previous |
13 Sep 1950 |
15 Checkstone Ave, Bessacarr, |
01 Jan 1996 |
12 Nov 1996 |
Current:0 |
|
|
|
Previous |
27 Jan 1929 |
40 Tatenhill Gardens, Cantley, |
08 Jun 1992 |
01 Jan 1996 |
Current:0 |
|
|
|
Previous |
05 Apr 1950 |
Plaice Hills Farm, North Lane Sykehouse, |
04 Dec 1996 |
21 Aug 2006 |
Current:0 |
|
|
|
|
|
||||||
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
Corporate Secretaries |
|
|
|
There are no corporate secretaries for this company. |
|
|
|
Individual Shareholders |
||||||
|
|
||||||
|
There are no individual shareholders for this company. |
||||||
|
|
||||||
|
|
||||||
|
|
|
|
|
|
|
|
|
Corporate Shareholders |
|||||||
|
|
|||||||
|
Company Name |
Registration Number |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
05825672 |
10000 Ordinary GBP 1.00 |
Ordinary |
10,000 |
1.00 |
10,000.00 |
100.00 |
|
|
|
|||||||
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.623776 |
0.647573 |
0.641508 |
0.545576 |
0.499878 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Turnover (UK) |
12.1 |
- |
- |
- |
- |
|
Turnover (Exports) |
0.7 |
- |
- |
- |
- |
|
Total Turnover |
12.8 |
10.8 |
10.0 |
- |
- |
|
Cost of Sales |
6.1 |
4.8 |
4.6 |
- |
- |
|
Gross Profit |
6.7 |
5.9 |
5.4 |
5.5 |
6.1 |
|
Depreciation |
0.3 |
0.4 |
0.4 |
0.4 |
0.5 |
|
Other Expenses |
5.8 |
5.2 |
4.7 |
4.9 |
5.8 |
|
Operating Profit |
- |
0.8 |
- |
- |
0.3 |
|
Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Paid |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit Before Taxes |
1.0 |
0.8 |
0.6 |
0.5 |
0.3 |
|
Tax Payable / Credit |
0.2 |
0.2 |
0.2 |
0.1 |
0.0 |
|
Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends |
0.8 |
0.8 |
0.9 |
0.9 |
2.0 |
|
Profit After Taxes |
-0.1 |
-0.3 |
-0.4 |
-0.5 |
-1.7 |
|
Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Number of Employees |
91 |
82 |
76 |
80 |
89 |
|
Wages |
2.8 |
2.3 |
2.1 |
2.5 |
2.9 |
|
Social Security Costs |
0.3 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Pensions |
- |
0.0 |
- |
- |
- |
|
Other Pension Costs |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees Remuneration |
3.1 |
2.6 |
2.3 |
2.7 |
3.1 |
|
Other Costs |
- |
0.3 |
- |
- |
- |
|
Directors Remuneration |
0.4 |
0.3 |
0.3 |
0.2 |
0.2 |
|
Highest Paid Director |
0.1 |
0.1 |
- |
- |
- |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.643459 |
0.638712 |
0.619253 |
0.695531 |
0.502361 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Land & Buildings |
0.3 |
0.4 |
0.6 |
0.7 |
1.1 |
|
Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Plant & Vehicles |
0.4 |
0.5 |
0.5 |
0.6 |
0.9 |
|
Total Tangible Fixed Assets |
0.7 |
0.9 |
1.1 |
1.2 |
2.0 |
|
Intangible Assets |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Fixed Assets |
0.8 |
1.1 |
1.1 |
1.2 |
2.0 |
|
Stocks |
3.1 |
3.0 |
2.6 |
2.6 |
- |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Total Stocks Work In Progress |
3.1 |
3.0 |
2.6 |
2.6 |
3.4 |
|
Trade Debtors |
2.3 |
1.7 |
1.5 |
1.2 |
2.3 |
|
Director Loans |
0.0 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Other Debtors |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Total Debtors |
2.4 |
1.8 |
1.6 |
1.4 |
2.5 |
|
Cash and Equivalents |
0.0 |
0.0 |
0.5 |
0.2 |
0.4 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
5.5 |
4.9 |
4.7 |
4.2 |
6.3 |
|
Total Assets |
6.3 |
5.9 |
5.8 |
5.5 |
8.2 |
|
Trade Creditors |
1.5 |
1.0 |
1.0 |
1.0 |
1.4 |
|
Bank Overdraft |
0.3 |
0.3 |
- |
- |
- |
|
Inter-Company Creditors |
0.8 |
0.8 |
0.8 |
0.7 |
1.0 |
|
Director Loans (Current Liability) |
0.0 |
0.0 |
0.0 |
- |
- |
|
Accruals/Deferred Income (Current Liability) |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Social Security/VAT |
0.3 |
0.2 |
0.2 |
0.1 |
0.3 |
|
Corporation Tax |
0.3 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Other Current Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Liabilities |
3.4 |
2.8 |
2.4 |
2.0 |
2.9 |
|
Group Loans (Long Term Liability) |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Director Loans (Long Term Liability) |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Long Term Liability) |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Leasing (Long Term Liability) |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Other Long Term Loans |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Other Long Term Liabilities |
0.0 |
0.1 |
0.0 |
0.0 |
0.1 |
|
Total Long Term Liabilities |
0.0 |
0.1 |
0.0 |
0.0 |
0.1 |
|
Deferred Taxation |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Issued Capital |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
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 |
2.8 |
2.9 |
3.3 |
3.3 |
5.2 |
|
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 |
2.8 |
2.9 |
3.3 |
3.3 |
5.2 |
|
Net Worth |
2.8 |
2.8 |
3.3 |
3.3 |
5.2 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.623776 |
0.647573 |
0.641508 |
0.545576 |
0.499878 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
1.1 |
0.5 |
1.4 |
1.1 |
- |
|
Net Cash Flow from ROI and Servicing of Finance |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Taxation |
-0.2 |
-0.2 |
-0.1 |
-0.1 |
- |
|
Capital Expenditures |
-0.1 |
-0.3 |
-0.1 |
-0.2 |
- |
|
Acquisitions and Disposals |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Paid Up Equity |
-0.8 |
0.0 |
-0.9 |
-0.9 |
- |
|
Management of Liquid Resources |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Net Cash Flow From Financing |
0.0 |
-0.8 |
0.0 |
0.0 |
- |
|
Increase in Cash |
0.0 |
-0.8 |
0.3 |
-0.1 |
- |
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.643459 |
0.638712 |
0.619253 |
0.695531 |
0.502361 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.62 |
1.74 |
1.97 |
2.10 |
2.19 |
|
Liquidity Ratio |
0.72 |
0.65 |
0.89 |
0.79 |
0.99 |
|
Stock Turnover |
4.05 |
3.58 |
4.02 |
- |
- |
|
Credit Period (Days) |
66.42 |
55.83 |
53.09 |
- |
- |
|
Working Capital by Sales |
17.07% |
18.99% |
22.34% |
- |
- |
|
Trade Credit by Debtors |
0.68 |
0.60 |
0.69 |
0.78 |
0.63 |
|
Return on Capital |
32.32% |
24.86% |
19.63% |
11.98% |
5.14% |
|
Return on Assets |
14.91% |
13.14% |
11.51% |
7.56% |
3.35% |
|
Profit Margin |
7.57% |
7.12% |
6.40% |
- |
- |
|
Return on Shareholders Funds |
33.10% |
26.55% |
20.26% |
12.39% |
5.35% |
|
Borrowing Ratio |
41.46% |
40.19% |
25.85% |
21.56% |
19.23% |
|
Equity Gearing |
45.03% |
49.48% |
56.79% |
61.02% |
62.76% |
|
Interest Coverage |
62.46 |
109.68 |
90.51 |
30.94 |
22.10 |
|
Sales by Tangible Assets |
17.47 |
11.88 |
9.73 |
- |
- |
|
Average Remuneration per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sales per Employee |
0.1 |
0.1 |
0.1 |
- |
- |
|
Capital Employed per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Tangible Assets per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Employee Remuneration by Sales |
23.96% |
23.94% |
23.42% |
- |
- |
|
Creditor Days (Cost of Sales Based) |
94.58 |
75.00 |
79.07 |
- |
- |
|
Creditor Days (Sales Based) |
44.91 |
33.72 |
36.51 |
- |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.