|
Report Date : |
25.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ELECTRA POLYMERS
LTD. |
|
|
|
|
Registered Office : |
Roughway Mill
Tonbridge, TN11 9SG |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.01.2012 |
|
|
|
|
Date of Incorporation : |
18.09.1997 |
|
|
|
|
Com. Reg. No.: |
03435974 |
|
|
|
|
Legal Form : |
Private Subsidiary |
|
|
|
|
Line of Business : |
Manufacture of other chemical products not elsewhere classified |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
Unknown |
|
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
Electra Polymers Ltd.
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Business Description
|
Since 1984 Electra has been a leader in the
development of advanced speciality polymer based resists and coatings for the
global electronics manufacturing industry. With an emphasis on innovation,
R&D and customer support, we provide customers with world class materials
to help them manufacture environmentally compliant products faster, cheaper
and of higher quality. Whatever their size or wherever their location, our
customers share a common goal: to constantly improve their production
processes, so that sophisticated designs are manufactured in the fastest,
most reliable, most repeatable and least expensive manner. At Electra,
everyone is dedicated to helping our customers achieve this goal. What sets
us apart from other polymer resist and coating manufacturers is the quality
of our innovation, R&D and technical support. One of the first companies
to develop a two-component aqueous photoimageable soldermask, we were the first
resist manufacturer to proactively work closely with machine manufacturers to
optimise our products for spray application - a technology now widely
established for the many benefits it offers in terms of coating uniformity,
track-edge coverage, blind-via encapsulation and minimal soldermask
deposition in holes. Today we provide major PCB and membrane switch
manufactures worldwide with all the polymer resist products they require. In
addition, our technical capabilities have lead to our Electraluxâ„¢ range
of printable display inks becoming rapidly established as a leader in polymer
resist technology for the manufacture of high reliability electroluminescent
lamps. However, it doesn't stop there. As an Electra customer, you not only
partner with a supplier of cutting edge products that will satisfy your
current needs, but you start to build a relationship with a company that will
continually develop these, as well as new products, to satisfy your future
demands. Innovation For many companies innovation is a word overplayed by
their marketing departments. At Electra, innovation is the cornerstone of our
approach to R&D, resulting in us being at the forefront of PCB and
membrane switch material development for over 20 years. As well as the
continued improvement of traditional technologies, we are actively involved
in the development of direct imaging materials and the employment of
nano-technology. These enable our customers to reap the accuracy and cost
benefits associated with digital imaging From inkjet to laser, our polymer
chemists and process engineers are actively involved in projects targeted at
both incremental and step-change improvements in materials technology for the
electronics industry. Company Information Electra Polymers Ltd. Registered in
England. Registration No: 03435974 Registered Office Address Roughway Mill,
Tonbridge, Kent, TN11 9SG, England. |
Industry
Key Executives
|
Financial Summary
|
||||||||||||||||||||
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6246957
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6375173
|
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Electra Polymers Ltd. |
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|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Rotherham |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Tonbridge |
United Kingdom |
Commercial Banks |
|
|
|
|
Subsidiary |
Tonbridge |
United Kingdom |
Commercial Banks |
|
30 |
|
|
Subsidiary |
Tonbridge |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Tonbridge |
United Kingdom |
Rental and Leasing |
|
|
|
|
Subsidiary |
Tonbridge |
United Kingdom |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Tonbridge |
United Kingdom |
Nonclassifiable Industries |
|
|
Executives Report
|
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Annual Return
Date: 18 Sep 2012
Total Issued Capital (GBP 000): 1,000
|
Individual Directors |
|||||||
|
|
|||||||
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
17 Aug 1969 |
Roughway Mill Dunks Green, |
15 Apr 2004 |
NA |
Current:5 |
|
|
|
Current |
23 Jun 1947 |
Roughway Mill Dunks Green, |
01 May 2011 |
NA |
Current:4 |
|
|
|
Current |
20 Aug 1974 |
Roughway Mill Dunks Green, |
01 May 2011 |
NA |
Current:4 |
|
|
|
Current |
23 Jun 1960 |
Holmbury, Queens Avenue, |
06 Jan 1998 |
NA |
Current:5 |
|
|
|
Current |
11 Nov 1944 |
Salmans Manor, Grove Road, |
16 Jun 2003 |
NA |
Current:6 |
|
|
|
Previous |
14 Oct 1949 |
Floor 27 City Point, One Ropemaker Street, |
31 Mar 1998 |
31 Jan 2005 |
Current:1 |
|
|
|
Previous |
23 Jun 1947 |
Roughway Mill, Tonbridge, |
06 Jan 1998 |
31 Mar 1998 |
Current:2 |
|
|
|
Previous |
11 Nov 1944 |
Salmans Manor, Grove Road, |
18 Sep 1997 |
31 Mar 1998 |
Current:6 |
|
|
|
|
|
||||||
|
|
|
||||||
|
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|
|
Corporate Directors |
||||
|
|
||||
|
Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
|
Waterlow Nominees Limited |
Previous |
6-8 Underwood Street, |
18 Sep 1997 |
18 Sep 1997 |
|
|
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|
||||
|
|
||||
|
Individual Secretaries |
|||||||
|
|
|||||||
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
NA |
Roughway Mill, Dunks Green, |
01 May 2011 |
NA |
Current:1 |
|
|
|
Previous |
27 Mar 1942 |
32 Church Road, |
18 Sep 1997 |
06 Jan 1998 |
Current:10 |
|
|
|
Previous |
20 Aug 1979 |
Roughway Mill, Tonbridge, |
01 Apr 2000 |
22 Nov 2005 |
Current:1 |
|
|
|
Previous |
23 Jun 1947 |
Roughway Mill, Tonbridge, |
22 Nov 2005 |
01 May 2011 |
Current:2 |
|
|
|
Previous |
02 Jul 1942 |
61 Middleton Gardens, Gants Hill, |
06 Jan 1998 |
31 Jul 1999 |
Current:0 |
|
|
|
|
|
||||||
|
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|
||||||
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|
|
|
|
|
|
|
|
Corporate Secretaries |
||||||||||
|
|
||||||||||
|
Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
||||||
|
Waterlow Secretaries Limited |
Previous |
6-8 Underwood Street, |
18 Sep 1997 |
18 Sep 1997 |
||||||
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|
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|
Individual Shareholders |
||||||||||
|
|
||||||||||
|
Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
||||
|
John Richard Heesom MA OXON |
1 Ordinary GBP 1.00 |
Ordinary |
1 |
1.00 |
1.00 |
<0.01 |
||||
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|
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|
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|
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|
Corporate Shareholders |
|||||||
|
|
|||||||
|
Company Name |
Registration Number |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
03443653 |
999999 Ordinary GBP 1.00 |
Ordinary |
999,999 |
1.00 |
999,999.00 |
100.00 |
|
|
|
|||||||
|
Financials in:
USD (mil) |
|
|
Except for
share items (millions) and per share items (actual units) |
|
|
|
|
|
|
|
31-Jan-2012 |
31-Jan-2011 |
31-Jan-2010 |
31-Jan-2009 |
31-Jan-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period Average) |
0.624696 |
0.648787 |
0.635292 |
0.558389 |
0.499611 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Turnover (UK) |
- |
- |
- |
- |
7.2 |
|
Turnover (Exports) |
- |
- |
- |
- |
0.0 |
|
Total Turnover |
- |
- |
- |
- |
7.2 |
|
Cost of Sales |
- |
- |
- |
- |
3.5 |
|
Gross Profit |
- |
- |
- |
- |
3.7 |
|
Depreciation |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Expenses |
- |
- |
- |
- |
3.5 |
|
Operating Profit |
- |
- |
- |
- |
0.2 |
|
Other Income |
- |
- |
- |
- |
0.0 |
|
Interest Paid |
- |
- |
- |
- |
0.1 |
|
Exceptional Income |
- |
- |
- |
- |
0.0 |
|
Profit Before Taxes |
- |
- |
- |
- |
0.1 |
|
Tax Payable / Credit |
- |
- |
- |
- |
0.0 |
|
Extraordinary Items/Debits |
- |
- |
- |
- |
0.0 |
|
Dividends |
- |
- |
- |
- |
0.0 |
|
Profit After Taxes |
- |
- |
- |
- |
0.1 |
|
Minority Interests (Profit & Loss) |
- |
- |
- |
- |
0.0 |
|
Audit Fees |
- |
- |
- |
- |
0.0 |
|
|
|
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
|
31-Jan-2012 |
31-Jan-2011 |
31-Jan-2010 |
31-Jan-2009 |
31-Jan-2008 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.637517 |
0.624317 |
0.624064 |
0.717437 |
0.503018 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Land & Buildings |
0.0 |
0.0 |
- |
- |
0.0 |
|
Fixtures & Fittings |
0.0 |
0.0 |
- |
- |
0.0 |
|
Plant & Vehicles |
0.0 |
0.0 |
- |
- |
0.0 |
|
Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Intangible Assets |
0.3 |
0.4 |
0.4 |
0.4 |
0.6 |
|
Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Fixed Assets |
0.3 |
0.4 |
0.4 |
0.4 |
0.6 |
|
Total Stocks Work In Progress |
1.2 |
1.3 |
1.2 |
1.1 |
1.5 |
|
Trade Debtors |
- |
- |
- |
- |
1.8 |
|
Other Debtors |
- |
- |
- |
- |
0.1 |
|
Total Debtors |
1.7 |
1.7 |
1.9 |
1.3 |
2.0 |
|
Cash and Equivalents |
0.1 |
0.1 |
0.2 |
0.0 |
0.2 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
3.0 |
3.1 |
3.3 |
2.5 |
3.7 |
|
Total Assets |
3.3 |
3.4 |
3.7 |
2.9 |
4.2 |
|
Trade Creditors |
- |
- |
- |
- |
0.9 |
|
Bank Overdraft |
- |
- |
- |
- |
0.2 |
|
Inter-Company Creditors |
- |
- |
- |
- |
0.9 |
|
Total Finance Lease/Hire Purchase (Current
Liability) |
- |
- |
- |
- |
0.0 |
|
Social Security/VAT |
- |
- |
- |
- |
0.0 |
|
Other Current Liabilities |
1.7 |
2.0 |
2.5 |
2.1 |
1.1 |
|
Total Current Liabilities |
1.7 |
2.0 |
2.5 |
2.1 |
3.1 |
|
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 |
- |
- |
|
Leasing (Long Term Liability) |
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 |
0.0 |
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 |
1.6 |
1.6 |
1.6 |
1.4 |
2.0 |
|
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 |
0.0 |
-0.2 |
-0.5 |
-0.7 |
-0.8 |
|
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 |
1.6 |
1.4 |
1.2 |
0.7 |
1.1 |
|
Net Worth |
1.3 |
1.0 |
0.8 |
0.3 |
0.6 |
|
|
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
31-Jan-2012 |
31-Jan-2011 |
31-Jan-2010 |
31-Jan-2009 |
31-Jan-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period Average) |
0.624696 |
0.648787 |
0.635292 |
0.558389 |
0.499611 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
|
|
Annual Ratios |
|
Financials in: USD (mil) |
|
|
31-Jan-2012 |
31-Jan-2011 |
31-Jan-2010 |
31-Jan-2009 |
31-Jan-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.637517 |
0.624317 |
0.624064 |
0.717437 |
0.503018 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.76 |
1.50 |
1.29 |
1.15 |
1.19 |
|
Liquidity Ratio |
1.07 |
0.88 |
0.82 |
0.63 |
0.70 |
|
Stock Turnover |
- |
- |
- |
- |
4.78 |
|
Credit Period (Days) |
- |
- |
- |
- |
93.20 |
|
Working Capital by Sales |
- |
- |
- |
- |
8.05% |
|
Trade Credit by Debtors |
- |
- |
- |
- |
0.48 |
|
Return on Capital |
- |
- |
- |
- |
10.34% |
|
Return on Assets |
- |
- |
- |
- |
2.83% |
|
Profit Margin |
- |
- |
- |
- |
1.68% |
|
Return on Shareholders Funds |
- |
- |
- |
- |
10.50% |
|
Borrowing Ratio |
- |
- |
- |
- |
186.03% |
|
Equity Gearing |
48.48% |
40.33% |
31.33% |
24.78% |
26.97% |
|
Debt Gearing |
- |
- |
- |
- |
2.85% |
|
Interest Coverage |
- |
- |
- |
- |
1.51 |
|
Sales by Tangible Assets |
- |
- |
- |
- |
210.11 |
|
Creditor Days (Cost of Sales Based) |
- |
- |
- |
- |
91.67 |
|
Creditor Days (Sales Based) |
- |
- |
- |
- |
44.72 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
|
1 |
Rs.82.56 |
|
Euro |
1 |
Rs.70.10 |
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.