MIRA INFORM REPORT

 

 

Report Date :

08.11.2013

 

IDENTIFICATION DETAILS

 

Name :

MURRAY UNIFORMS LTD

 

 

Registered Office :

Castle Court Bodmin Road, Coventry Cv2 5db

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

09.03.2009

 

 

Com. Reg. No.:

06840659

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Wholesale of clothing and footwear

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

 

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 and address

 

Company Name:

MURRAY UNIFORMS LTD

Company No:

06840659

Registered Address:

CASTLE COURT BODMIN ROAD

COVENTRY

 

CV2 5DB

 

 

Company summary

 

              

Company Name

MURRAY UNIFORMS LTD

Company Number

06840659

Registered Address

CASTLE COURT BODMIN ROAD

Trading Address

Castle Court
Bodmin Road
Coventry
West Midlands
CV2 5DB

 

COVENTRY

 

 

 

 

 

CV2 5DB

 

 

 

 

 

Website Address

http://www.murrayuniforms.co.uk

 

 

Telephone Number

02476587980

Fax Number

 

TPS

No

FPS

No

Incorporation Date

09/03/2009

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private limited with Share Capital

Date of Change

-

Filing Date of Accounts

30/09/2013

 

 

Share Capital

£800,000

SIC03

5142

Currency

GBP

SIC03 Description

Wholesale of clothing and footwear

SIC07

46420

SIC07 Description

WHOLESALE OF CLOTHING AND FOOTWEAR

Principal Activity

Supply of clothing and footwear.

 

 

 

 

Commentary

 

No exact match CCJs are recorded against the company.

There has been no significant change in the company's credit rating.

The credit limit on this company has fallen 42% in comparison to the previously suggested credit limit.

There is insufficient data to indicate a change in this companies percentage of sales.

Net Worth decreased by 28.1% during the latest trading period.

A 9.9% decline in Total Assets occurred during the latest trading period.

There is insufficient data to indicate a change in this companies pre-tax profit.

The company saw a decrease in their Cash Balance of 53.7% during the latest trading period.

The audit report contains no adverse comments.

No recent changes in directorship are recorded.

The company is part of a group.

The movement in accumulated earnings would indicate that the company incurred a loss after tax and other appropriations, including dividends.

The company was established over 4 years ago.

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/12/2012

-

-

£497,020

-

31/12/2011

-

-

£697,165

-

31/12/2010

-

-

£759,864

-

 

 

Payment Information Summary

 

Days Beyond Terms

Trend Indicator

                         Average Payment Experience  What are Creditsafe Users saying about this company's payment behavior? This is Information on a target company's payment behaviour supplied directly by Creditsafe companies based on their direct experience of the company.

 

 

4

14

Company DBT

UK Average DBT

Steady

   

Improving Worsening

Be the first to leave a payment experience


Within Terms 91+ Days

 

 

 

Trade Debtors / Bad Debt Summary

 

Total Number of Documented Trade Debtors / Bad Debt -

2

 

Total Value of Documented Trade Debtors / Bad Debt -

£2,848

 

 

 

CCJ

 

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

 

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

 

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

 

Total Number of Writs -

-

 

 

 

Exact CCJ Details

There are no exact CCJ details

 

Possible CCJ Details

There are no possible CCJ details

 

Writ Details

There are no writ details

 

Mortgage Summary

Outstanding

0

Satisfied

0

 

Total Current Directors

3

Total Current Secretaries

0

Total Previous Directors / Company Secretaries

1

 

 

Current Directors

 

Name

James Edward Douglass

Date of Birth

01/10/1951

Officers Title

Mr

Nationality

British

Present Appointments

6

Function

Director

Appointment Date

09/03/2009

 

 

Address

Castle Court Bodmin Road, Coventry, CV2 5DB

 

 

 

 

 

Name

Mark Bass

Date of Birth

11/09/1985

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

20/08/2009

 

 

Address

Castle Court Bodmin Road, Coventry, CV2 5DB

 

 

 

 

 

Name

Andrew David Bass

Date of Birth

16/01/1963

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

20/08/2009

 

 

Address

Castle Court Bodmin Road, Coventry, CV2 5DB

 

 

 

 

 

 

Current Company Secretary

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

ELMDENE GROUP LTD

GBP

433,000

ORDINARY

1

54.13

ANDREW DAVID BASS

GBP

144,000

ORDINARY

1

18

ELAINE BASS

GBP

143,000

ORDINARY

1

17.88

MARK BASS

GBP

80,000

ORDINARY

1

10

Financials

 

Profit & Loss

Date Of Accounts

31/12/12

31/12/11

31/12/10

31/12/09

-

Weeks

52

52

52

52

-

Currency

GBP

GBP

GBP

GBP

-

Consolidated A/cs

N

N

N

N

-

Turnover

-

-

-

£355,914

-

Export

-

-

-

-

-

Cost of Sales

-

-

-

£196,304

-

Gross Profit

-

-

-

£159,610

-

Wages & Salaries

-

-

-

£64,006

-

Directors Emoluments

-

-

-

£27,981

-

Operating Profit

-

-

-

£26,898

-

Depreciation

£28,768

£29,329

£34,867

£5,205

-

Audit Fees

-

-

-

-

-

Interest Payments

-

-

-

£1,274

-

Pre Tax Profit

-

-

-

£26,898

-

Taxation

-

-

-

-

-

Profit After Tax

-

-

-

£26,898

-

Dividends Payable

-

-

-

-

-

Retained Profit

-

-

-

£26,898

-

 

 

Balance Sheet

 Date Of Accounts

31/12/12

31/12/11

31/12/10

31/12/09

-

Tangible Assets

£85,723

£87,990

£104,602

£78,073

-

Intangible Assets

£10,002

£20,002

£47,502

£49,502

-

Total Fixed Assets

£95,725

£107,992

£152,104

£127,575

-

Stock

£513,835

£682,775

£505,347

£497,982

-

Trade Debtors

£511,963

£420,434

£238,792

£210,043

-

Cash

£30,468

£65,766

£69,913

£250,997

-

Other Debtors

0

£1,259

£22,179

£21,100

-

Miscellaneous Current Assets

0

0

0

0

-

Total Current Assets

£1,056,266

£1,170,234

£836,231

£980,122

-

Trade Creditors

£268,971

£307,581

£211,484

£187,668

-

Bank Loans & Overdrafts

0

0

0

0

-

Other Short Term Finance

0

0

0

£9,317

-

Miscellaneous Current Liabilities

0

0

0

£53,855

-

Total Current Liabilities

£268,971

£307,581

£211,484

£250,840

-

Bank Loans & Overdrafts and LTL

£386,000

£273,480

£16,987

£29,959

-

Other Long Term Finance

0

0

0

£29,959

-

Total Long Term Liabilities

£386,000

£273,480

£16,987

£29,959

-

 

Capital & Reserves

Date Of Accounts

31/12/12

31/12/11

31/12/10

31/12/09

-

Called Up Share Capital

£800,000

£800,000

£800,000

£800,000

-

P & L Account Reserve

-£302,980

-£102,835

-£40,136

£26,898

-

Revaluation Reserve

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

Shareholder Funds

£497,020

£697,165

£759,864

£826,898

-

 

Other Financial Items

Date Of Accounts

31/12/12

31/12/11

31/12/10

31/12/09

-

Net Worth

£487,018

£677,163

£712,362

£777,396

-

Working Capital

£787,295

£862,653

£624,747

£729,282

-

Total Assets

£1,151,991

£1,278,226

£988,335

£1,107,697

-

Total Liabilities

£654,971

£581,061

£228,471

£280,799

-

Net Assets

£497,020

£697,165

£759,864

£826,898

-

 

Cash Flow

Date Of Accounts

31/12/12

31/12/11

31/12/10

31/12/09

-

Net Cashflow from Operations

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

Increase in Cash

-

-

-

-

-

 

Miscellaneous

Date Of Accounts

31/12/12

31/12/11

31/12/10

31/12/09

-

Contingent Liability

NO

NO

NO

NO

-

Capital Employed

£883,020

£970,645

£776,851

£856,857

-

Number of Employees

-

-

-

-

-

Auditors

BURGIS & BULLOCK

Auditor Comments

The audit report contains no adverse comments

Bankers

 

Bank Branch Code

 

 

Ratios

Date Of Accounts

31/12/12

31/12/11

31/12/10

31/12/09

-

Pre-tax profit margin %

-

-

-

7.56

-

Current ratio

3.93

3.80

3.95

3.91

-

Sales/Net Working Capital

-

-

-

0.49

-

Gearing %

77.70

39.20

2.20

3.60

-

Equity in %

43.50

55.40

80.80

78.10

-

Creditor Days

-

-

-

191.93

-

Debtor Days

-

-

-

214.81

-

Liquidity/Acid Test

2.01

1.58

1.56

1.92

-

Return On Capital Employed %

-

-

-

3.13

-

Return On Total Assets Employed %

-

-

-

2.42

-

Current Debt Ratio

0.54

0.44

0.27

0.30

-

Total Debt Ratio

1.31

0.83

0.30

0.33

-

Stock Turnover Ratio %

-

-

-

139.91

-

Return on Net Assets Employed %

-

-

-

3.25

-

 

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

11/10/2013

New Accounts Filed

09/04/2013

Annual Returns

09/11/2012

New Accounts Filed

17/03/2012

Annual Returns

08/10/2011

New Accounts Filed

13/07/2011

Mr R. Bass has left the board

05/04/2011

Annual Returns

07/10/2010

New Accounts Filed

07/04/2010

Annual Returns

28/08/2009

New Board Member Mr R. Bass appointed

28/08/2009

New Board Member Mr A.D. Bass appointed

28/08/2009

New Board Member Mr M. Bass appointed

11/03/2009

Change of Name

11/03/2009

Change in Reg.Office

11/03/2009

Change of Company Postcode

 

 

Previous Company Names

 

No Previous Names found

 

 

Statistics

 

Group

4 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

ELMDENE GROUP LIMITED

Ownership Status

Intermediately Owned

Ultimate Holding Company

ELMDENE GROUP LIMITED

 

 

Group structure

 

Company Name

 

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

ELMDENE GROUP LIMITED

 

06890168

31.12.2012

Y

£8,280,543

THE MILLBOARD COMPANY...

 

06061318

31.12.2012

N

 

FIXINGS DIRECT CENTRAL...

 

06651827

31.12.2012

N

 

MURRAY UNIFORMS LTD

 

06840659

31.12.2012

N

 



Statistics

 

Group

4 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Exact CCJ Details

No CCJs found

 

Possible CCJs Details

There are no possible CCJ details

 

Writ Details

No writs found

 

Mortgage Details

 

Creditor Details

 

No Creditor Data

Total Value

-

 

 

Trade Debtors / Bad Debt Detail

 

Company Name

Amount

Statement Date

 

Central & Shires Ltd

£1,936

20/09/2011

 

M & L Ambulance Service Ltd

£912

15/02/2012

Total Value

£2,848

 

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

Roy Bass

0

1

Average Invoice Value

£939.10

 

Invoices available

4

 

Paid

4

 

Outstanding

0

 

 

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

 

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

1

3

0

0

0

Outstanding

0

0

0

0

0

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.57

UK Pound

1

Rs.100.62

Euro

1

Rs.84.62

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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