MIRA INFORM REPORT
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Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
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Name : |
CROFTS & ASSINDER LTD. |
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Registered Office : |
Standard Brass Works, 95 Lombard Street,
Birmingham, B12 0QX, West Midlands County |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
18.12.1975 |
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Com. Reg. No.: |
01237954 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Manufacture of quality handles and fittings to the furniture and
allied industries |
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No. of Employees : |
75 |
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 : |
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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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
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Source : CIA |
Company name and address
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Crofts & Assinder Ltd. |
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Employees: |
75 |
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Company Type: |
Private Subsidiary |
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Corporate
Family: |
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Ultimate Parent: |
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Quoted Status: |
Non-quoted Company |
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Incorporation
Date: |
18-Dec-1975 |
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Auditor: |
Pkf (UK) LLP |
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Fiscal Year End: |
31-Mar-2012 |
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Reporting
Currency: |
British Pound
Sterling |
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Annual Sales: |
NA |
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Total Assets: |
1.8 |
Business Description
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Established in 1875, Crofts & Assinder Limited has a long and proud
history in the design and manufacture of quality handles and fittings to the
furniture and allied industries alike, catering to both high and low volume
consumers. In 1875 George Crofts and Fredrick Assinder commenced trading as
brass founders in Birmingham in the United Kingdom. From the very beginning
Crofts and Assinder Limited specialised in the design and manufacturer of
cabinet handles and fittings. Our product range and supporting services have
evolved over the last 135 years to become one of the largest handle
manufacturers within the United Kingdom. Providing an innovative and unique
range of products for you to view, and with a number of customers based
across the world, we are strongly placed to support and meet the demands of
the global market place. Our product range spans many design influences from
1875 right through to the modern era. We use a variety of materials in our
manufacturing processes including: brass, steel, cast Iron, zinc
(mazak/zamak) ceramic, glass, acrylic, plastic and wood. As you might expect
from a market leader, if you are unable to source the exact product design
you are seeking from our extensive range, we are also able to offer you an
exclusive bespoke design service to cater for your needs. The company prides
itself on its expertise in the design and development of products to suit our
customer requirements. Crofts & Assinder Limited's fully integrated
design ,tool making, manufacturing and plating services are available for non
standard Crofts & Assinder Limited products and enable us to give you,
the customer, a broad choice in the use of all or part of our manufacturing
facilities. For the ultimate exclusivity we can even develop and produce your
own branded product. At Crofts & Assinder Limited, we have never been
better placed to meet the challenges of today's fast paced industry demands.
Energetic and dynamic, our proactive team embraces the latest in
technological advances backed with more than 135 years of hard earned
experience. Crofts & Assinder Limited is a member of ACID and protects
all of its designs and products. Not a member? Register Here Well connected
Overseas Agents required to sell unique decorative hardware to end users and
suppliers of furniture fittings throughout the furniture industry. Excellent
commission rates available |
Industry
Key Executives
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News
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Financial Summary
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Registered No.(UK)
01237954
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP
0.6267523
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6281078
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