MIRA INFORM REPORT
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Report Date : |
22.03.2013 |
IDENTIFICATION DETAILS
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Name : |
S.J.M. ALLOYS & METALS LTD. |
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Registered Office : |
98 Westbury Lane, Buckhurst Hill, IG9 5PW |
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Country : |
United Kingdom |
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Financials (as on) : |
30.04.2012 |
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Date of Incorporation : |
23.04.1993 |
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Com. Reg. No.: |
02812324 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Dealer in Miscellaneous Capital Goods |
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No. of Employees : |
05 |
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 : |
Unknown |
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Litigation : |
Unknown |
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
United Kingdom |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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).
|
Source : CIA |
Company name & address
S.J.M. Alloys & Metals Ltd.
191a Princes Road
Buckhurst Hill, IG9 5DJ
United Kingdom
(Trading Address)
Registered Address
Tel: 020 8505 2210
Web: www.sjmalloysandmetals.com
Synthesis
Employees: 5
Company Type: Private Independent
Quoted Status: Non-quoted Company
Incorporation Date:
23-Apr-1993
Auditor: B G Partnership
Financials in: USD
(Millions)
Fiscal Year End:
30-Apr-2012
Reporting Currency: British
Pound Sterling
Annual Sales: 25.2
1
Net Income: 0.9
Total Assets: 9.8
Business Description
The broad nature of our business means we can provide a service to many
industries. As a result, we purchase materials from a variety of sectors,
including: Aerospace Electronics Tool Making Engineering Mining Chemical Our
client base is broad, yet very personal. Dealing accross Europe, Asia and the
United States, we place huge importance in developing strong relationships with
our partners, and seek to provide the easiest, and most efficient service
possible. Recycling, reclamation and adding value to precious secondary raw
materials , with an awareness of environmental responsibilities encapsulates
our business goal. Get in touch now!! Phone: +44 (0) 208 505 2210, Email: info@sjmalloysandmetals.com
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 3322 - Metal and
Mineral Wholesaling
NACE 2002: 5152 - Wholesale
of metals and ores
NAICS 2002: 423520 - Coal and
Other Mineral and Ore Merchant Wholesalers
UK SIC 2003: 5152 - Wholesale
of metals and ores
UK SIC 2007: 4672 - Wholesale
of metals and metal ores
US SIC 1987: 505 - Metals and
Minerals, Except Petroleum
Key Executives
|
Name |
Title |
|
Reece Atkinson |
General Manager |
|
Jacqui Castle |
Chief Financial Officer |
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Caroline Mary Midgley |
Secretary |
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Stephen James Midgley |
Director |
Financial
Summary
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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
Corporate Overview
Location
191a Princes Road
Buckhurst Hill, IG9 5DJ
Essex County
United Kingdom
Tel: 020 8505 2210
Web: www.sjmalloysandmetals.com
Sales GBP(mil): 15.8
Assets GBP(mil): 6.0
Employees: 5
Fiscal Year End: 30-Apr-2012
Industry: Miscellaneous
Capital Goods
Registered
Address:
98 Westbury Lane
Buckhurst Hill, IG9 5PW
United Kingdom
Incorporation Date: 23-Apr-1993
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(UK): 02812324
Director: Stephen
James Midgley
Industry Codes
ANZSIC 2006 Codes:
3322 - Metal and Mineral Wholesaling
NACE 2002 Codes:
5152 - Wholesale of metals and ores
NAICS 2002 Codes:
423520 - Coal and Other Mineral and Ore Merchant Wholesalers
US SIC 1987:
505 - Metals and Minerals, Except Petroleum
UK SIC 2003:
5152 - Wholesale of metals and ores
UK SIC 2007:
4672 - Wholesale of metals and metal ores
Business
Description
Trading in metals.
More Business
Descriptions
Metal Merchants
The broad nature of our business means we can provide a service to many industries. As a result, we purchase materials from a variety of sectors, including: Aerospace Electronics Tool Making Engineering Mining Chemical Our client base is broad, yet very personal. Dealing accross Europe, Asia and the United States, we place huge importance in developing strong relationships with our partners, and seek to provide the easiest, and most efficient service possible. Recycling, reclamation and adding value to precious secondary raw materials , with an awareness of environmental responsibilities encapsulates our business goal. Get in touch now!! Phone: +44 (0) 208 505 2210, Email: info@sjmalloysandmetals.com
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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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General Manager |
Division Head Executive |
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Secretary |
Company Secretary |
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Chief Financial Officer |
Finance Executive |
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Directors and Shareholders Report
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Main Office Address: |
Tel: 020 8505 2210 |
Annual Return Date: 23 Apr 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 |
23 Jan 1963 |
Colonsay 33 Piercing Hill, Theydon Bois, |
23 Apr 1993 |
NA |
Current:2 |
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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 |
Colonsay 33 Piercing Hill, Theydon Bois, |
23 Apr 1993 |
NA |
Current:1 |
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Corporate Secretaries |
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There are no corporate secretaries for this company. |
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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 |
|
Caroline Midgley |
2000 Ordinary GBP 1.00 |
Ordinary |
2,000 |
1.00 |
2,000.00 |
40.00 |
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Stephen Midgley |
3000 Ordinary GBP 1.00 |
Ordinary |
3,000 |
1.00 |
3,000.00 |
60.00 |
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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-Apr-2012 |
30-Apr-2011 |
30-Apr-2010 |
30-Apr-2009 |
30-Apr-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.627861 |
0.640008 |
0.625491 |
0.607152 |
0.498433 |
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Consolidated |
No |
No |
No |
No |
No |
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Turnover (UK) |
25.2 |
23.8 |
17.3 |
17.5 |
- |
|
Turnover (Exports) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Total Turnover |
25.2 |
23.8 |
17.3 |
17.5 |
- |
|
Cost of Sales |
22.3 |
20.7 |
15.3 |
15.0 |
- |
|
Gross Profit |
2.9 |
3.1 |
2.0 |
2.4 |
- |
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Depreciation |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Expenses |
1.0 |
1.5 |
1.2 |
1.2 |
- |
|
Operating Profit |
1.8 |
1.7 |
- |
- |
- |
|
Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Interest Paid |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Profit Before Taxes |
1.8 |
1.6 |
0.8 |
1.2 |
- |
|
Tax Payable / Credit |
0.5 |
0.5 |
0.2 |
0.3 |
- |
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Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Dividends |
0.5 |
0.4 |
0.6 |
0.6 |
- |
|
Profit After Taxes |
0.9 |
0.8 |
0.0 |
0.3 |
- |
|
Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Number of Employees |
5 |
5 |
5 |
4 |
- |
|
Wages |
0.4 |
0.4 |
0.4 |
0.4 |
- |
|
Social Security Costs |
0.1 |
0.0 |
0.0 |
0.1 |
- |
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Pensions |
- |
0.0 |
- |
0.0 |
- |
|
Other Pension Costs |
0.1 |
0.1 |
0.1 |
0.1 |
- |
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Employees Remuneration |
0.5 |
0.5 |
0.5 |
0.5 |
- |
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Directors Emoluments |
- |
0.2 |
- |
- |
- |
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Other Costs |
- |
0.0 |
- |
0.2 |
- |
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Directors Remuneration |
0.2 |
0.2 |
0.2 |
0.2 |
- |
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Highest Paid Director |
0.0 |
0.2 |
0.2 |
0.2 |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
30-Apr-2012 |
30-Apr-2011 |
30-Apr-2010 |
30-Apr-2009 |
30-Apr-2008 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.614874 |
0.599538 |
0.653317 |
0.674855 |
0.50491 |
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Consolidated |
No |
No |
No |
No |
No |
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Land & Buildings |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Plant & Vehicles |
0.1 |
0.0 |
0.0 |
0.0 |
- |
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Total Tangible Fixed Assets |
0.2 |
0.0 |
0.1 |
0.1 |
0.1 |
|
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 |
0.2 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Stocks |
4.4 |
- |
2.1 |
1.3 |
- |
|
Work in Progress |
0.0 |
- |
0.0 |
0.0 |
- |
|
Total Stocks Work In Progress |
4.4 |
3.2 |
2.1 |
1.3 |
2.2 |
|
Trade Debtors |
3.7 |
2.7 |
1.7 |
2.4 |
- |
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Director Loans |
0.2 |
- |
- |
- |
- |
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Other Debtors |
0.7 |
0.6 |
0.1 |
0.1 |
- |
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Total Debtors |
4.6 |
3.3 |
1.8 |
2.5 |
3.5 |
|
Cash and Equivalents |
0.7 |
0.7 |
0.7 |
0.8 |
1.2 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
9.7 |
7.3 |
4.6 |
4.5 |
6.9 |
|
Total Assets |
9.8 |
7.3 |
4.7 |
4.6 |
7.0 |
|
Trade Creditors |
2.5 |
3.4 |
1.9 |
2.0 |
- |
|
Bank Overdraft |
0.0 |
0.7 |
0.0 |
0.0 |
- |
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Inter-Company Creditors |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Director Loans (Current Liability) |
0.0 |
0.0 |
0.2 |
0.1 |
- |
|
Hire Purchase (Current Liability) |
- |
0.0 |
0.0 |
0.0 |
- |
|
Finance Lease (Current Liability) |
- |
0.0 |
0.0 |
0.0 |
- |
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Total Finance Lease/Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Total Short Term Loans |
3.0 |
0.0 |
0.7 |
0.7 |
- |
|
Accruals/Deferred Income (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Social Security/VAT |
0.0 |
0.0 |
0.0 |
0.1 |
- |
|
Corporation Tax |
0.8 |
0.6 |
0.3 |
0.3 |
- |
|
Dividends (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Other Current Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
5.3 |
|
Total Current Liabilities |
6.3 |
4.7 |
3.1 |
3.1 |
5.3 |
|
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 |
|
Leasing (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.1 |
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 |
0.1 |
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 |
0.0 |
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 |
3.4 |
2.6 |
1.6 |
1.5 |
1.7 |
|
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 |
3.4 |
2.6 |
1.6 |
1.5 |
1.7 |
|
Net Worth |
3.4 |
2.6 |
1.6 |
1.5 |
1.7 |
Annual Cash Flows
Financials in: USD (mil)
|
|
30-Apr-2012 |
30-Apr-2011 |
30-Apr-2010 |
30-Apr-2009 |
30-Apr-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.627861 |
0.640008 |
0.625491 |
0.607152 |
0.498433 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
-1.5 |
0.7 |
0.7 |
0.9 |
- |
|
Net Cash Flow from ROI and Servicing of Finance |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Taxation |
-0.3 |
-0.3 |
-0.2 |
-0.6 |
- |
|
Capital Expenditures |
-0.1 |
0.0 |
0.0 |
0.0 |
- |
|
Acquisitions and Disposals |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Paid Up Equity |
-0.5 |
-0.4 |
-0.6 |
-0.6 |
- |
|
Management of Liquid Resources |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Net Cash Flow From Financing |
2.3 |
0.0 |
0.0 |
0.1 |
- |
|
Increase in Cash |
0.0 |
0.0 |
-0.1 |
-0.2 |
- |
Annual Ratios
Financials in: USD (mil)
|
|
30-Apr-2012 |
30-Apr-2011 |
30-Apr-2010 |
30-Apr-2009 |
30-Apr-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.614874 |
0.599538 |
0.653317 |
0.674855 |
0.50491 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.52 |
1.54 |
1.50 |
1.48 |
1.30 |
|
Liquidity Ratio |
0.83 |
0.85 |
0.82 |
1.06 |
0.88 |
|
Stock Turnover |
5.89 |
7.87 |
7.87 |
12.46 |
- |
|
Credit Period (Days) |
52.20 |
38.40 |
38.42 |
55.16 |
- |
|
Working Capital by Sales |
12.90% |
10.00% |
9.34% |
9.29% |
- |
|
Trade Credit by Debtors |
0.67 |
1.27 |
1.10 |
0.84 |
- |
|
Return on Capital |
53.20% |
67.55% |
47.68% |
68.46% |
- |
|
Return on Assets |
18.86% |
23.93% |
16.26% |
22.65% |
- |
|
Profit Margin |
7.20% |
6.89% |
4.62% |
6.61% |
- |
|
Return on Shareholders Funds |
54.28% |
67.55% |
47.68% |
68.46% |
- |
|
Borrowing Ratio |
91.78% |
27.48% |
51.83% |
47.51% |
- |
|
Equity Gearing |
34.74% |
35.42% |
34.11% |
33.08% |
24.07% |
|
Debt Gearing |
2.03% |
- |
- |
- |
- |
|
Interest Coverage |
61.18 |
96.64 |
69.90 |
39.28 |
- |
|
Sales by Tangible Assets |
155.20 |
510.14 |
287.87 |
270.89 |
- |
|
Average Remuneration per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
- |
|
Profit per Employee |
0.4 |
0.4 |
0.2 |
0.3 |
- |
|
Sales per Employee |
5.1 |
5.1 |
3.3 |
3.9 |
- |
|
Capital Employed per Employee |
0.7 |
0.5 |
0.3 |
0.4 |
- |
|
Tangible Assets per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Total Assets per Employee |
2.0 |
1.5 |
0.9 |
1.1 |
- |
|
Employee Remuneration by Sales |
2.03% |
2.15% |
3.01% |
3.09% |
- |
|
Creditor Days (Cost of Sales Based) |
39.62 |
56.36 |
47.64 |
53.93 |
- |
|
Creditor Days (Sales Based) |
35.11 |
48.92 |
42.20 |
46.47 |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.28 |
|
UK Pound |
1 |
Rs.82.06 |
|
Euro |
1 |
Rs.70.23 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.