MIRA INFORM REPORT

 

 

Report Date :

12.11.2013

 

IDENTIFICATION DETAILS

 

Name :

L J MACHINE TOOLS LTD.

 

 

Registered Office :

187d Union Street Lurgan Craigavon, BT66 8EQ

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.08.2012

 

 

Date of Incorporation :

20.06.1979

 

 

Com. Reg. No.:

NI013679

 

 

Legal Form :

Private Parent

 

 

Line of Business :

Subject is engaged in Non-food shops. and Engineers Merchants.

 

 

No. of Employees :

25

 

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 :

Slow

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

 

L J MACHINE TOOLS LTD.

 

 

 

187d Union Street

 

Lurgan

Craigavon, BT66 8EQ

United Kingdom

(Trading Address)
 

Map

 

Tel:

02838328212

Fax:

02838321833

 

 

Employees:

25

Company Type:

Private Parent

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

20-Jun-1979

 

 

Fiscal Year End:

31-Aug-2012

Reporting Currency:

British Pound Sterling

Annual Sales:

NA

Total Assets:

2.6

 Business Description    

 

Non-food shops.

 

Industry  

 

Industry

Non-store Retail

ANZSIC 2006:

4310 - Non-Store Retailing

ISIC Rev 4:

4799 - Other retail sale not in stores, stalls or markets

NACE Rev 2:

4799 - Other retail sale not in stores, stalls or markets

NAICS 2012:

454 - Nonstore Retailers

UK SIC 2007:

4799 - Other retail sale not in stores, stalls or markets

US SIC 1987:

596 - Nonstore Retailers

 

 Key Executives  

 

Name

Title

James Harland

Managing Director

Lillian Harland

Director, Secretary

Carol Black

Accounts Administrator

Ian James Harland

Director

Mark Thomas Joseph Harland

Director

 

Financial Summary    

 

FYE: 31-Aug-2012

USD (mil)

Key Figures

 

Current Assets

2.37

Fixed Assets

0.20

Total Liabilities

1.15

Net Worth

1.38

 

Key Ratios

 

Current Ratio

2.06

Acid Test

0.74

 

 

 

 

Key IDSM Number: 43948801

Registered No.(UK): NI013679

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6353669


2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6333495

 

Corporate Overview

 

Location
187d Union Street
Lurgan
Craigavon, BT66 8EQ
County Armagh County
United Kingdom

 

Tel:

02838328212

Fax:

02838321833

 

www.ljmt.co.uk

Sales GBP(mil):

NA

Assets GBP(mil):

1.6

Employees:

25

Fiscal Year End:

31-Aug-2012

 

 

 

Industry:

Retail (Catalog and Mail Order)

Registered Address:
187D Union Street
Lurgan
Craigavon, BT66 8EQ
United Kingdom

 

Incorporation Date:

20-Jun-1979

Company Type:

Private Parent

Quoted Status:

Not Quoted

Registered No.(UK):

NI013679

 

Managing Director:

James Harland

Industry Codes

 

ANZSIC 2006 Codes:

4310

-

Non-Store Retailing

 

ISIC Rev 4 Codes:

4799

-

Other retail sale not in stores, stalls or markets

 

NACE Rev 2 Codes:

4799

-

Other retail sale not in stores, stalls or markets

 

NAICS 2012 Codes:

454

-

Nonstore Retailers

 

US SIC 1987:

596

-

Nonstore Retailers

 

UK SIC 2007:

4799

-

Other retail sale not in stores, stalls or markets

 

Business Description

Non-food shops.

 

More Business Descriptions

Engineers Merchants

 

 

 

 

 

 

Financial Data

Financials in:

GBP(mil)

 

Assets:

1.6

Current Assets:

1.5

 

Fixed Assets:

0.1

 

Long Term Debt:

0.0

 

Total Liabilities:

0.8

 

Issued Capital:

0.0

 

Working Capital:

0.8

 

Net Worth:

0.9

 

 

 

Date of Financial Data:

31-Aug-2012

 

1 Year Growth

NA

 

Key Corporate Relationships

Bank:

Northern Bank Ltd

 

 

Auditor History

Robinson & Co

31-Aug-2011

Robinson & Co.

31-Aug-2010

Robinson And Co

31-Aug-2009

 

 

 

 

 

 

 

 

Executives Report

 

Board of Directors

 

Name

Title

Function

 

Lillian Harland

 

Director, Secretary

Director/Board Member

 

Age: 71

 

Ian James Harland

 

Director

Director/Board Member

 

 

Age: 43

 

Mark Thomas Joseph Harland

 

Director

Director/Board Member

 

 

Age: 40

 

 

Executives

 

Name

Title

Function

 

James Harland

 

Managing Director

Managing Director

 

Carol Black

 

Accounts Administrator

Administration Executive

 

Lillian Harland

 

Director, Secretary

Company Secretary

 

Age: 71

 

 



Directors and Shareholders Report

 

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Mark Thomas Joseph
Harland

Current

21 May 1973

41 Weavers Meadow, Lurgan Road,
Banbridge, County Down BT32 4RL

01 Dec 1999

NA

Current:2
Previous:0
Disqualifications:0

 

Lillian
Harland

Current

01 Nov 1942

29 Chasewood Close, Portadown,
Craigavon, County Armagh BT63 5TY

14 Oct 1988

NA

Current:2
Previous:0
Disqualifications:0

 

James
Harland

Current

06 Nov 1943

29 Chasewood Close, Portadown,
Craigavon, County Armagh BT63 5TY

20 Jun 1979

NA

Current:1
Previous:1
Disqualifications:0

 

Ian James
Harland

Current

19 Jun 1970

7 Chasewood Manor, Portadown,
Craigavon, County Armagh BT63 5FL

25 Sep 1996

NA

Current:3
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

 

Lillian
Harland

Current

01 Nov 1942

29 Chasewood Close, Portadown,
Craigavon, County Armagh BT63 5TY

14 Oct 1988

NA

Current:2
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

James Harland

5000 Ordinary GBP 1.00

Ordinary

5,000

1.00

5,000.00

50.00

Lillian Harland

5000 Ordinary GBP 1.00

Ordinary

5,000

1.00

5,000.00

50.00

 

 

 

 

 

 

 

 

 

Corporate Shareholders

There are no corporate shareholders for this company.

 

 

 

Annual Profit & Loss

 

 

31-Aug-2012

31-Aug-2011

31-Aug-2010

31-Aug-2009

31-Aug-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.635367

0.623753

0.640102

0.643147

0.502947

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Depreciation

0.0

0.1

0.1

0.1

0.1

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

31-Aug-2012

31-Aug-2011

31-Aug-2010

31-Aug-2009

31-Aug-2008

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.63335

0.614156

0.65066

0.613572

0.548261

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Tangible Fixed Assets

0.2

0.2

0.3

0.4

0.5

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

0.2

0.3

0.4

0.5

Total Stocks Work In Progress

1.5

1.5

1.3

1.5

1.9

Inter-Company Debtors

-

-

0.0

0.0

-

Director Loans

-

-

0.0

-

-

Other Debtors

-

-

0.7

0.7

-

Total Debtors

0.8

0.8

0.7

0.7

1.0

Cash and Equivalents

0.0

0.0

0.1

0.2

0.1

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

2.4

2.3

2.0

2.4

2.9

Total Assets

2.6

2.6

2.3

2.7

3.4

Other Current Liabilities

1.1

1.1

0.9

1.3

1.9

Total Current Liabilities

1.1

1.1

0.9

1.3

1.9

Group Loans (Long Term Liability)

-

-

-

-

0.0

Other Long Term Liabilities

0.0

0.1

0.2

0.3

0.3

Total Long Term Liabilities

0.0

0.1

0.2

0.3

0.3

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

1.4

1.3

1.2

1.1

0.0

Other Reserves

0.0

0.0

0.0

0.0

1.3

Minority Interests (Balance Sheet)

0.0

0.0

0.0

0.0

0.0

Total Shareholders Funds

1.4

1.3

1.2

1.1

1.3

Net Worth

1.4

1.3

1.2

1.1

1.3

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

31-Aug-2012

31-Aug-2011

31-Aug-2010

31-Aug-2009

31-Aug-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.635367

0.623753

0.640102

0.643147

0.502947

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Aug-2012

31-Aug-2011

31-Aug-2010

31-Aug-2009

31-Aug-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.63335

0.614156

0.65066

0.613572

0.548261

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

2.06

2.12

2.18

1.78

1.59

Liquidity Ratio

0.74

0.75

0.82

0.68

0.58

Borrowing Ratio

-

-

-

-

56.00%

Equity Gearing

5,364.00%

5,247.00%

5,131.00%

4,040.00%

3,808.00%

Debt Gearing

-

-

-

-

0.56%

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.30

UK Pound

1

Rs.101.36

Euro

1

Rs.84.60

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.