MIRA INFORM REPORT

 

 

Report Date :

24.05.2013

 

IDENTIFICATION DETAILS

 

Name :

SHREDMET LTD.

 

 

Registered Office :

Old Bank Chambers, 582-586 Kingsbury Road, Erdington, Birmingham, B24 9ND

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

30.04.2012

 

 

Date of Incorporation :

04.06.2008

 

 

Com. Reg. No.:

06611675

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Not Available 

 

 

No. of Employees :

Not Available 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Dormant

Payment Behaviour :

---

Litigation :

---

 

 

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

 

 

Company name & address 

 

Shredmet Ltd.

Old Bank Chambers

582-586 Kingsbury Road

Erdington

Birmingham, B24 9ND

United Kingdom

(Trading Address)

Registered Address

 

Trade Status:     Dormant

 

 

Synthesis

 

Employees:                  NA

Company Type:             Private Independent

Quoted Status:             Non-quoted Company

Incorporation Date:         04-Jun-2008      

Fiscal Year End:            30-Apr-2012

Reporting Currency:       British Pound Sterling

Annual Sales:               NA

Total Assets:                NA

 

Industry             

Industry            Waste Management Services

ANZSIC 2006:    29 - Waste Collection, Treatment and Disposal Services

NACE 2002:      9003 - Sanitation, remediation and similar activities

NAICS 2002:     5629 - Remediation and Other Waste Management Services

UK SIC 2003:    9003 - Sanitation, remediation and similar activities

UK SIC 2007:    3900 - Remediation activities and other waste management services

US SIC 1987:    4959 - Sanitary Services, Not Elsewhere Classified

 

           

Key Executives   

 

Name

Title

Jane Hill

Director

Wayne Anthony Hawkeswood

Director

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.627861

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6148738

 

Corporate Overview

 

Trade Status:                 Dormant

 

Location

Old Bank Chambers

582-586 Kingsbury Road

Erdington

Birmingham, B24 9ND

West Midlands County

United Kingdom

           

Sales GBP(mil):             NA

Assets GBP(mil):           NA

Employees:                   NA

Fiscal Year End:            30-Apr-2012

Industry:                        Waste Management Services

           

Registered Address:

Old Bank Chambers

582-586 Kingsbury Road

Erdington

Birmingham, B24 9ND

United Kingdom

 

Incorporation Date:         04-Jun-2008

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(UK):       06611675

Director:                        Wayne Anthony Hawkeswood

 

Contents

Industry Codes

Financial Data

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

29         -          Waste Collection, Treatment and Disposal Services

 

NACE 2002 Codes:

9003     -          Sanitation, remediation and similar activities

 

NAICS 2002 Codes:

5629     -          Remediation and Other Waste Management Services

 

US SIC 1987:

4959     -          Sanitary Services, Not Elsewhere Classified

 

UK SIC 2003:

9003     -          Sanitation, remediation and similar activities

 

UK SIC 2007:

3900     -          Remediation activities and other waste management services

 

Financial Data

Financials in:

GBP(mil)

 

Issued Capital:

NaN

 

 

 

Date of Financial Data:

30-Apr-2012

 

 

1 Year Growth

Key Corporate Relationships

 

 

GBP(mil)

Audit Fees:

0.0

Audit Fiscal Year:

04-30-2012

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Wayne Anthony Hawkeswood

 

Director

Director/Board Member

 

Age: 42

 

Jane Hill

 

Director

Director/Board Member

 

 

 

Executives

 

Name

Title

Function

 

Jane Hill

 

Director

Company Secretary

 

 

 

Directors and Shareholders Report

 

Main Office Address:
Old Bank Chambers
582-586 Kingsbury Road
Birmingham
United Kingdom B24 9ND

 

Annual Return Date: 03 Jun 2012

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Wayne Anthony 
Hawkeswood

Current

16 Aug 1970

Riverside Works Trevor Street, Nechells, 
Birmingham, West Midlands B7 5RG

04 Jun 2008

NA

Current:7
Previous:0
Disqualifications: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

 

Jane 
Hill

Current

NA

Old Bank Chambers 582-586 Kingsbury Road, 
Birmingham, West Midlands B24 9ND

28 May 2012

NA

Current:1
Previous:0
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

There are no corporate secretaries for this company.

 

Individual Shareholders

Name

Share Details 
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

W Hawkeswood

51 Ordinary GBP 1.00

Ordinary

51

1.00

51.00

51.00

Yvonne Manders

49 Ordinary GBP 1.00

Ordinary

49

1.00

49.00

49.00

 

 

 

 

 

 

 

 

Corporate Shareholders

There are no corporate shareholders for this company.

 

 

Annual Profit & Loss

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Apr-2012

30-Apr-2011

30-Apr-2010

Period Length

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

Exchange Rate (Period Average)

0.627861

0.640008

0.625491

Consolidated

No

No

No

 

 

 

 

Audit Fees

0.0

0.0

0.0

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

30-Apr-2012

30-Apr-2011

30-Apr-2010

Filed Currency

GBP

GBP

GBP

Exchange Rate

0.614874

0.599538

0.653317

Consolidated

No

No

No

 

 

 

 

Other Current Assets

-

0.0

0.0

Total Current Assets

-

0.0

0.0

Total Assets

-

0.0

0.0

Bank Overdraft

-

0.0

0.0

Bank Loan Overdrafts

-

0.0

0.0

Total Short Term Loans

-

0.0

0.0

Other Current Liabilities

-

0.0

0.0

Total Current Liabilities

-

0.0

0.0

Working Capital

-

0.0

0.0

Total Long Term Loans

-

0.0

0.0

Other Long Term Liabilities

-

0.0

0.0

Total Long Term Liabilities

-

0.0

0.0

Issued Capital

0.0

-

-

Total Reserve

-

0.0

0.0

Total Shareholders Funds

-

0.0

0.0

Net Worth

-

0.0

0.0

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

30-Apr-2011

30-Apr-2010

Period Length

12 Months

12 Months

Filed Currency

GBP

GBP

Exchange Rate (Period Average)

0.640008

0.625491

Consolidated

No

No

 

 

 

Paid Up Equity

0.0

0.0

 

Annual Ratios

 

 

 

 

30-Apr-2012

30-Apr-2011

30-Apr-2010

Period Length

12 Months

12 Months

12 Months

Filed Currency

-

-

-

Exchange Rate

-

-

-

Consolidated

No

No

No

 

 

 

 

Solvency Ratio

-

100.00%

100.00%

Financial Strength Ratio

0.00

0.00

0.00

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.99

UK Pound

1

Rs.84.18

Euro

1

Rs.71.86

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.