MIRA INFORM REPORT
|
Report Date : |
23.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
P M C MARKETING LTD |
|
|
|
|
Registered Office : |
Hearts of Oak House, 4 Pembroke Road, Sevenoaks,
TN13 1XR |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
08.12.1999 |
|
|
|
|
Com. Reg. No.: |
03890652 |
|
|
|
|
Legal Form : |
Private Independent |
|
|
|
|
Line of Business : |
Export and international distribution of industrial
chemicals. |
|
|
|
|
No. of Employees : |
6 |
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 : |
Small Company |
|
|
|
|
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
|
P M C Marketing Ltd |
|
|
|
|
|
Business Description
Export and international distribution of industrial
chemicals.
Industry
|
Industry |
|
|
ANZSIC 2006: |
3323 -
Industrial and Agricultural Chemical Product Wholesaling |
|
ISIC Rev 4: |
4669 -
Wholesale of waste and scrap and other products n.e.c. |
|
NACE Rev 2: |
|
|
NAICS 2012: |
|
|
UK SIC 2007: |
|
|
US SIC 1987: |
Key Executive
|
Name |
Title |
|
David John Reynolds |
Secretary |
|
Michael Kenneth Napier Short |
Director |
|
Maria Lourdes Diana White |
Director |
|
Gerald Barrington Macintosh Williams |
Director |
Financial Summary
|
FYE: 30-Jun-2012 |
USD (mil) |
||||||||||||||||||
|
|||||||||||||||||||
Registered
No.(UK): 03890652
1 - Profit & Loss
Item Exchange Rate: USD 1 = GBP 0.6313531
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6452901
|
|
|
|
|
||||||||||||||||||||||||||
Industry code
|
ANZSIC 2006 Codes: |
||
|
3323 |
- |
Industrial and Agricultural Chemical
Product Wholesaling |
|
ISIC Rev 4 Codes: |
||
|
4669 |
- |
Wholesale of waste and scrap and other
products n.e.c. |
|
NACE Rev 2 Codes: |
||
|
4675 |
- |
Wholesale of chemical products |
|
NAICS 2012 Codes: |
||
|
4246 |
- |
Chemical and Allied Products Merchant
Wholesalers |
|
US SIC 1987: |
||
|
516 |
- |
Chemicals and Allied Products |
|
UK SIC 2007: |
||
|
4675 |
- |
Wholesale of chemical products |
Business Description
Export and international distribution of industrial
chemicals.
|
|
|
Auditor: |
Creasey Son & Wickenden |
|
|
|
|
Auditor: |
Creasey Son & Wickenden |
|
|
|
|
Auditor History |
|
|
Creasey Son & Wickenden |
30-Jun-2012 |
|
Creasey Son & Wickenden |
30-Jun-2011 |
|
Creasey Son And Wickenden |
30-Jun-2010 |
|
Creasey Son And Wickenden |
30-Jun-2009 |
|
Creasey Son And Wickenden |
30-Jun-2008 |
|
|
|
|
|
GBP(mil) |
|
Audit Fees: |
0.0 |
|
Audit Fiscal Year: |
06-30-2012 |
Executives Report
|
Board
of Directors |
|
|
|
|
|||
|
Director |
Director/Board Member |
|
|||
|
||||||
|
Director |
Director/Board Member |
|
|
||
|
||||||
|
Director |
Director/Board Member |
|
|
||
|
||||||
|
Executives |
|
|
|
|
||||
|
Secretary |
Company Secretary |
|
||||
|
|||||||
Directors and Shareholders Report
|
Main Office Address: |
Annual Return Date: 08 Dec 2012 |
INDIVIDUAL DIRECTORS
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
Current |
01 Apr 1944 |
216 Somerset Road, Wimbledon, |
11 Dec 2000 |
NA |
Current:1 |
|
|
Current |
27 Feb 1937 |
Lyme Building Westmere Drive, Crewe Business Park, |
20 Apr 2000 |
NA |
Current:5 |
|
|
Current |
13 Sep 1955 |
Cherry Garth Shoreham Road, Otford, |
11 Dec 2000 |
NA |
Current:6 |
|
|
Current |
03 Jun 1948 |
Homeleigh Appledore Road, |
11 Dec 2000 |
NA |
Current:6 |
|
|
Previous |
14 Jan 1951 |
74 College Road, |
08 Dec 1999 |
20 Apr 2000 |
Current:1 |
Corporate Directors
There are no corporate directors for this company.
INDIVIDUAL SECRETARIES
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
Current |
03 Jun 1948 |
Homeleigh Appledore Road, |
20 Apr 2000 |
NA |
Current:6 |
|
|
Previous |
20 Dec 1951 |
74 College Road, |
08 Dec 1999 |
20 Apr 2000 |
Current:2 |
Corporate Secretaries
There are no corporate secretaries for this company.
INDIVIDUAL SHAREHOLDERS
|
Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
Michael K Short |
150000 Redeemable Preference GBP 1.00 |
Redeemable Preference |
150,000 |
1.00 |
150,000.00 |
42.86 |
|
Michael K Short |
100000 Ordinary GBP 1.00 |
Ordinary |
100,000 |
1.00 |
100,000.00 |
28.57 |
|
|
|
|
|
|
|
|
|
|
Corporate
Shareholders
|
Company Name |
Registration
Number |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
01640117 |
100000 Ordinary
GBP 1.00 |
Ordinary |
100,000 |
1.00 |
100,000.00 |
28.57 |
Annual Profit & Loss
|
Financials
in: USD (mil) |
|
|
Except
for share items (millions) and per share items (actual units) |
|
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.631353 |
0.629106 |
0.633607 |
0.627423 |
0.499214 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Turnover (UK) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Turnover (Exports) |
30.1 |
16.8 |
9.1 |
10.6 |
29.2 |
|
Total Turnover |
30.1 |
16.8 |
9.1 |
10.6 |
29.2 |
|
Cost of Sales |
28.2 |
15.8 |
8.1 |
9.8 |
27.8 |
|
Gross Profit |
2.0 |
1.0 |
1.0 |
0.8 |
1.4 |
|
Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Expenses |
1.1 |
0.8 |
0.8 |
0.6 |
0.8 |
|
Operating Profit |
0.9 |
0.2 |
- |
0.2 |
0.6 |
|
Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Paid |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Exceptional Income |
0.0 |
0.0 |
0.2 |
0.0 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit Before Taxes |
0.7 |
0.1 |
0.3 |
0.2 |
0.6 |
|
Tax Payable / Credit |
0.2 |
0.0 |
0.1 |
0.0 |
0.1 |
|
Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends |
0.3 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Profit After Taxes |
0.2 |
0.1 |
0.1 |
0.1 |
0.3 |
|
Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Number of Employees |
6 |
5 |
6 |
4 |
4 |
|
Wages |
0.3 |
0.2 |
0.2 |
0.1 |
0.2 |
|
Social Security Costs |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Pension Costs |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees Remuneration |
0.3 |
0.2 |
0.2 |
0.1 |
0.2 |
|
Directors Remuneration |
0.2 |
0.1 |
0.1 |
0.1 |
0.2 |
Annual Balance Sheet
Financials
in: USD (mil)
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.64529 |
0.622878 |
0.668405 |
0.60722 |
0.502475 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Land & Buildings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Plant & Vehicles |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
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 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Stocks |
0.4 |
0.1 |
0.1 |
0.2 |
0.1 |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Stocks Work In Progress |
0.4 |
0.1 |
0.1 |
0.2 |
0.1 |
|
Trade Debtors |
7.9 |
4.9 |
4.7 |
2.0 |
4.5 |
|
Inter-Company Debtors |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Other Debtors |
0.5 |
0.8 |
0.2 |
0.0 |
0.1 |
|
Total Debtors |
8.4 |
5.7 |
4.9 |
2.1 |
4.7 |
|
Cash and Equivalents |
0.1 |
0.1 |
0.0 |
0.5 |
0.2 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
8.9 |
5.9 |
5.0 |
2.9 |
5.0 |
|
Total Assets |
8.9 |
6.0 |
5.0 |
2.9 |
5.0 |
|
Trade Creditors |
1.5 |
1.4 |
0.9 |
0.7 |
2.1 |
|
Bank Overdraft |
0.7 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Inter-Company Creditors |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Current Liability) |
- |
- |
- |
- |
0.0 |
|
Hire Purchase (Current Liability) |
- |
- |
- |
- |
0.0 |
|
Finance Lease (Current Liability) |
- |
- |
- |
- |
0.0 |
|
Total Finance Lease/Hire Purchase (Current
Liability) |
- |
- |
- |
- |
0.0 |
|
Total Short Term Loans |
0.0 |
0.2 |
- |
- |
0.0 |
|
Accruals/Deferred Income (Current
Liability) |
0.3 |
0.2 |
0.4 |
0.4 |
0.3 |
|
Social Security/VAT |
- |
- |
- |
- |
0.0 |
|
Corporation Tax |
0.2 |
0.0 |
0.1 |
0.0 |
0.1 |
|
Dividends (Current Liability) |
- |
- |
- |
- |
0.0 |
|
Other Current Liabilities |
4.0 |
2.4 |
1.9 |
0.2 |
1.1 |
|
Total Current Liabilities |
6.8 |
4.3 |
3.3 |
1.4 |
3.6 |
|
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 |
0.0 |
|
Leasing (Long Term Liability) |
- |
0.0 |
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 |
0.2 |
0.0 |
0.2 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Long Term
Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Liabilities |
0.2 |
0.2 |
0.2 |
0.2 |
0.0 |
|
Total Long Term Liabilities |
0.4 |
0.2 |
0.4 |
0.2 |
0.0 |
|
Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Provisions |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issued Capital |
0.3 |
0.3 |
0.3 |
0.3 |
0.4 |
|
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 |
1.3 |
1.1 |
1.0 |
0.9 |
1.0 |
|
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 |
1.3 |
1.3 |
1.4 |
|
Net Worth |
1.6 |
1.4 |
1.3 |
1.3 |
1.4 |
Annual Cash Flows
Financials
in: USD (mil)
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.631353 |
0.629106 |
0.633607 |
0.627423 |
0.499214 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
-2.0 |
-0.1 |
-2.4 |
0.3 |
0.1 |
|
Net Cash Flow from ROI and Servicing of
Finance |
-0.1 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Taxation |
0.0 |
-0.1 |
0.0 |
-0.1 |
-0.1 |
|
Capital Expenditures |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Acquisitions and Disposals |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Paid Up Equity |
-0.3 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Management of Liquid Resources |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Cash Flow From Financing |
0.0 |
0.0 |
0.2 |
0.2 |
0.0 |
|
Increase in Cash |
-2.5 |
-0.3 |
-2.3 |
0.3 |
-0.1 |
Annual Ratios
Financials
in: USD (mil)
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.64529 |
0.622878 |
0.668405 |
0.60722 |
0.502475 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.30 |
1.37 |
1.50 |
2.11 |
1.40 |
|
Liquidity Ratio |
1.25 |
1.35 |
1.48 |
1.96 |
1.36 |
|
Stock Turnover |
78.49 |
141.67 |
94.54 |
54.80 |
212.59 |
|
Credit Period (Days) |
97.52 |
105.59 |
199.45 |
65.12 |
57.17 |
|
Working Capital by Sales |
7.02% |
9.52% |
19.42% |
13.66% |
4.95% |
|
Trade Credit by Debtors |
0.20 |
0.28 |
0.18 |
0.34 |
0.46 |
|
Return on Capital |
33.76% |
6.96% |
15.47% |
12.17% |
38.16% |
|
Return on Assets |
7.85% |
1.90% |
5.19% |
6.39% |
10.91% |
|
Profit Margin |
2.37% |
0.66% |
3.01% |
1.66% |
1.89% |
|
Return on Shareholders Funds |
44.69% |
8.17% |
20.40% |
14.57% |
38.16% |
|
Borrowing Ratio |
60.95% |
20.68% |
16.32% |
6.21% |
0.03% |
|
Equity Gearing |
17.57% |
23.25% |
25.42% |
43.89% |
28.59% |
|
Debt Gearing |
11.88% |
- |
14.17% |
- |
- |
|
Interest Coverage |
5.24 |
1.30 |
11.67 |
5.03 |
13.56 |
|
Sales by Tangible Assets |
8,939.95 |
4,097.46 |
3,604.43 |
4,936.20 |
17,348.74 |
|
Average Remuneration per Employee |
0.1 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Profit per Employee |
0.1 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Sales per Employee |
4.9 |
3.4 |
1.4 |
2.7 |
7.3 |
|
Capital Employed per Employee |
0.3 |
0.3 |
0.3 |
0.4 |
0.4 |
|
Tangible Assets per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets per Employee |
1.5 |
1.2 |
0.8 |
0.7 |
1.3 |
|
Employee Remuneration by Sales |
1.14% |
1.06% |
2.24% |
1.37% |
0.85% |
|
Creditor Days (Cost of Sales Based) |
20.48 |
31.72 |
41.17 |
24.24 |
27.81 |
|
Creditor Days (Sales Based) |
19.15 |
29.80 |
36.73 |
22.45 |
26.50 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.