MIRA
INFORM REPORT
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Report Date : |
13.03.2013 |
IDENTIFICATION DETAILS
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Name : |
WESTINGHOUSE BRAKE & EQUIPMENT LTD. |
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Registered Office : |
The Green, Ryhope Village, Sunderland, SR2 |
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Country : |
United Kingdom |
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Financials (as on) : |
30.11.2011 |
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Date of Incorporation : |
17.12.1996 |
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Com. Reg. No.: |
03293155 |
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Legal Form : |
Private Independent |
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Line of Business : |
Motor spares-wholesale |
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No. of Employees : |
03 |
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 : |
No Complaints |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 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).
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Source : CIA |
Company name & address
Westinghouse Brake & Equipment Ltd.
The Green
Ryhope Village
Sunderland, SR2 0PF
United Kingdom
(Trading Address)
Registered Address
Tel: 0191 521 2111
Fax: 0191 521 2112
Synthesis
Employees: 3
Company Type: Private Independent
Quoted Status: Non-quoted Company
Incorporation Date:
17-Dec-1996
Auditor: Ttr
Barnes
Financials in: USD
(Millions)
Fiscal Year End:
30-Nov-2011
Reporting Currency: British
Pound Sterling
Annual Sales: NA
Total Assets: 0.6
Business Description
Motor spares-wholesale.
Industry
Industry Retail (Specialty)
ANZSIC 2006: 3921 - Motor
Vehicle Parts Retailing
NACE 2002: 5030 - Sale of
motor vehicle parts and accessories
NAICS 2002: 441310 -
Automotive Parts and Accessories Stores
UK SIC 2003: 5030 - Sale of
motor vehicle parts and accessories
UK SIC 2007: 4532 - Retail trade
of motor vehicle parts and accessories
US SIC 1987: 5531 - Auto and
Home Supply Stores
Key Executives
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Name |
Title |
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Jamie Angus |
Sales Coordinator |
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Janice Young |
Secretary |
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Geoffrey Bruce Young |
Director |
Financial Summary
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Registered No.(UK): 03293155
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6238039
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6358088
Corporate Overview
Location
The Green
Ryhope Village
Sunderland, SR2 0PF
Tyne And Wear County
United Kingdom
Tel: 0191 521 2111
Fax: 0191 521 2112
Sales GBP(mil): NA
Assets GBP(mil): 0.4
Employees: 3
Fiscal Year End: 30-Nov-2011
Industry: Retail
(Specialty)
Registered
Address:
The Green
Ryhope Village
Sunderland, SR2
United Kingdom
Incorporation Date: 17-Dec-1996
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(UK): 03293155
Director: Geoffrey
Bruce Young
Industry Codes
ANZSIC 2006 Codes:
3921 - Motor Vehicle Parts Retailing
NACE 2002 Codes:
5030 - Sale of motor vehicle parts and accessories
NAICS 2002 Codes:
441310 - Automotive Parts and Accessories Stores
US SIC 1987:
5531 - Auto and Home Supply Stores
UK SIC 2003:
5030 - Sale of motor vehicle parts and accessories
UK SIC 2007:
4532 - Retail trade of motor vehicle parts and accessories
Business
Description
Motor spares-wholesale.
More Business
Descriptions
Commercial Vehicle Accessories
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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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Secretary |
Company Secretary |
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Sales Coordinator |
Sales Executive |
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Directors and Shareholders Report
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Main Office Address: |
Tel: 0191 521 2111 |
Annual Return Date: 12 Dec 2012 |
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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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Current |
30 Jan 1955 |
The Green, Ryhope Village, |
17 Dec 1996 |
NA |
Current:4 |
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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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Current |
NA |
The Green, Ryhope Village, |
17 Dec 1996 |
NA |
Current:1 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Swift Incorporations Limited |
Previous |
26 Church Street, |
17 Dec 1996 |
17 Dec 1996 |
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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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Geoffrey Bruce Young |
1 Ordinary GBP 1.00 |
Ordinary |
1 |
1.00 |
1.00 |
50.00 |
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Janice Young |
1 Ordinary GBP 1.00 |
Ordinary |
1 |
1.00 |
1.00 |
50.00 |
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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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30-Nov-2011 |
30-Nov-2010 |
30-Nov-2009 |
30-Nov-2008 |
30-Nov-2007 |
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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) |
0.623804 |
0.645475 |
0.646269 |
0.530439 |
0.50098 |
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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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30-Nov-2011 |
30-Nov-2010 |
30-Nov-2009 |
30-Nov-2008 |
30-Nov-2007 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate |
0.635809 |
0.642116 |
0.609347 |
0.651699 |
0.486346 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
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Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
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Total Stocks Work In Progress |
0.3 |
0.2 |
0.2 |
0.2 |
0.2 |
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Total Debtors |
0.3 |
0.2 |
0.2 |
0.2 |
0.4 |
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Cash and Equivalents |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
0.5 |
0.4 |
0.4 |
0.4 |
0.6 |
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Total Assets |
0.6 |
0.4 |
0.5 |
0.5 |
0.8 |
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Bank Overdraft |
- |
- |
- |
- |
0.1 |
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Other Current Liabilities |
0.5 |
0.3 |
0.4 |
0.3 |
0.4 |
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Total Current Liabilities |
0.5 |
0.3 |
0.4 |
0.3 |
0.5 |
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Group Loans (Long Term Liability) |
- |
- |
- |
0.0 |
0.0 |
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Director Loans (Long Term Liability) |
- |
- |
- |
0.0 |
0.0 |
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Hire Purchase (Long Term Liability) |
- |
- |
- |
0.0 |
0.0 |
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Leasing (Long Term Liability) |
- |
- |
- |
0.0 |
0.0 |
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Total Hire Purchase Loans (Long Term Liability) |
- |
- |
- |
0.0 |
0.0 |
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Other Long Term Loans |
- |
- |
- |
0.0 |
0.0 |
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Accruals/Deferred Income (Long Term Liability) |
- |
- |
- |
0.0 |
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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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 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Retained Earnings |
0.2 |
0.1 |
0.2 |
0.2 |
0.2 |
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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 |
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Total Shareholders Funds |
0.2 |
0.1 |
0.2 |
0.2 |
0.2 |
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Net Worth |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
Annual Cash Flows
Financials in: USD (mil)
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|
30-Nov-2011 |
30-Nov-2010 |
30-Nov-2009 |
30-Nov-2008 |
30-Nov-2007 |
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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) |
0.623804 |
0.645475 |
0.646269 |
0.530439 |
0.50098 |
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Consolidated |
No |
No |
No |
No |
No |
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Annual Ratios
Financials in: USD (mil)
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|
30-Nov-2011 |
30-Nov-2010 |
30-Nov-2009 |
30-Nov-2008 |
30-Nov-2007 |
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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 |
|
Exchange Rate |
0.635809 |
0.642116 |
0.609347 |
0.651699 |
0.486346 |
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Consolidated |
No |
No |
No |
No |
No |
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Current Ratio |
1.19 |
1.20 |
1.19 |
1.29 |
1.21 |
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Liquidity Ratio |
0.57 |
0.54 |
0.68 |
0.59 |
0.77 |
|
Borrowing Ratio |
- |
- |
- |
- |
60.05% |
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Equity Gearing |
25.09% |
28.93% |
30.76% |
39.73% |
30.72% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
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UK Pound |
1 |
Rs.80.89 |
|
Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
|
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 |
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NB |
New Business |
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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.