MIRA INFORM REPORT
|
Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
FRANCIS KIRK & SON LIMITED |
|
|
|
|
Registered Office : |
Unit 1 Oakden Drive, Denton, Manchester, M34 2qn |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
21.02.1945 |
|
|
|
|
Com. Reg. No.: |
00393337 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
·
Engaged in engineering and fastening business. · Supplier of Abrasives, Air & Power Tools, Automotive, Construction, Cutting Tools, Durlok Products, Fixings & Fastenings, Gardening & Lawn Care, Hand Tools, Hardware & Security, Industrial Supplies, Machine Tools, Maintenance & Consumables, Measuring, Molyslip, Personal Protective (PPE), Socket Screws, Storage & Handling, Welding & Woodworking |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership. 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, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. 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. Falling 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 included 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 about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to 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 £375 billion (approximately $605 billion) as of December 2013. 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, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase.
|
Source : CIA |
Company
name & address
|
Company Name: |
FRANCIS KIRK & SON LIMITED |
|
Company No: |
00393337 |
|
Registered Address: |
|
UNIT 1 OAKDEN DRIVE |
|
DENTON |
|
MANCHESTER |
|
M34 2QN |
Company
summary
|
Company Name |
FRANCIS KIRK & SON LIMITED |
Company Number |
00393337 |
|
Registered
Address |
UNIT 1 OAKDEN DRIVE |
Trading Address |
Unit 1 |
|
Website Address |
|||
|
Telephone Number |
01613362631 |
||
|
TPS |
No |
||
|
Incorporation Date |
21/02/1945 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
Type |
Private limited with Share Capital |
|
|
Date of Change |
- |
Filing Date of
Accounts |
06/02/2013 |
|
|
|
Share Capital |
£25,000 |
|
SIC03 |
5190 |
Currency |
GBP |
|
Principal Activity |
·
Engaged in engineering and fastening business. · Supplier of Abrasives, Air & Power Tools, Automotive, Construction, Cutting Tools, Durlok Products, Fixings & Fastenings, Gardening & Lawn Care, Hand Tools, Hardware & Security, Industrial Supplies, Machine Tools, Maintenance & Consumables, Measuring, Molyslip, Personal Protective (PPE), Socket Screws, Storage & Handling, Welding & Woodworking |
||
Commentary
|
No exact match CCJs are recorded against the company. |
|
|
There is insufficient data to indicate a change in this company's
percentage of sales. |
|
|
Net Worth decreased by 1.2% during the latest trading period. |
|
|
A 2.1% decline in Total Assets occurred during the latest trading
period. |
|
|
There is insufficient data to indicate a change in this company's
pre-tax profit. |
|
|
The company saw a decrease in their Cash Balance of 55.2% during the
latest trading period. |
|
|
The company is exempt from audit. |
|
|
The company has undergone recent changes in its directorships. |
|
|
The company is not 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 69 years ago. |
|
Key
Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
30/09/2012 |
- |
- |
£2,457,782 |
- |
|
30/09/2011 |
- |
- |
£2,487,470 |
- |
|
30/09/2010 |
- |
- |
£2,484,474 |
- |
Payment
Information Summary
|
Days Beyond
Terms |
Trend Indicator |
Average
Payment Experience |
|||||
|
Steady Improving
Worsening |
Be the first to
leave a payment experience |
Trade
Debtors / Bad Debt Summary
|
Total Number of Documented Trade Debtors / Bad Debt - |
3 |
|
|
Total Value of Documented Trade Debtors / Bad Debt - |
£7,718 |
CCJ
|
Total Number of Exact CCJs - |
Total Value of Exact CCJs - |
||
|
Total Number of Possible CCJs - |
Total Value of Possible CCJs - |
||
|
Total Number of
Satisfied CCJs - |
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 |
2 |
|
Satisfied |
0 |
|
Total Current Directors |
3 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
4 |
Current
Directors
|
Name |
Date of Birth |
02/08/1985 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
4 |
Function |
Director |
|
Appointment Date |
10/02/2014 |
||
|
Address |
Pool House Clarke Lane, Bollington, Macclesfield, Cheshire, SK10 5AH |
||
|
Name |
Date of Birth |
26/06/1953 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
5 |
Function |
Director |
|
Appointment Date |
11/05/1991 |
||
|
Address |
Manor House Cottage, The Village Prestbury, Macclesfield, Cheshire,
SK10 4DG |
||
|
Name |
Date of Birth |
14/09/1949 |
|
|
Officers Title |
Nationality |
British |
|
|
Present Appointments |
3 |
Function |
Director |
|
Appointment Date |
11/05/1991 |
||
|
Address |
51 Springfield Road, Gatley, Cheadle, Cheshire, SK8 4PF |
||
Current
Company Secretary
|
Name |
Date of Birth |
- |
|
|
Officers Title |
Mrs |
Nationality |
|
|
Present Appointments |
1 |
Function |
Company Secretary |
|
Appointment Date |
01/03/2012 |
||
|
Address |
Unit 1 Oakden Drive, Denton, Manchester, M34 2QN |
||
Top
20 Shareholders
|
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
|
JOHN BICKMORE HODGSON & EDWIN STANTON |
GBP |
15,000 |
ORDINARY B |
1 |
60 |
|
JOHN BICKMORE HODGSON & EDWIN STANTON |
GBP |
4,200 |
ORDINARY |
1 |
16.8 |
|
FRANCIS STUART KIRK |
GBP |
2,900 |
ORDINARY |
1 |
11.6 |
|
CAROLYN JANE KIRK |
GBP |
2,900 |
ORDINARY |
1 |
11.6 |
Profit
& Loss
|
Date Of Accounts |
30/09/12 |
30/09/11 |
30/09/10 |
30/09/09 |
30/09/08 |
|
Weeks |
52 |
52 |
52 |
52 |
52 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Consolidated A/cs |
N |
N |
N |
N |
N |
|
Turnover |
- |
- |
- |
- |
- |
|
Export |
- |
- |
- |
- |
- |
|
Cost of Sales |
- |
- |
- |
- |
- |
|
Gross Profit |
- |
- |
- |
- |
- |
|
Wages & Salaries |
- |
- |
- |
- |
- |
|
Directors Emoluments |
- |
- |
- |
- |
- |
|
Operating Profit |
- |
- |
- |
- |
- |
|
Depreciation |
£83,020 |
£72,706 |
£66,333 |
£64,007 |
£69,731 |
|
Audit Fees |
- |
- |
- |
- |
- |
|
Interest Payments |
- |
- |
- |
- |
- |
|
Pre Tax Profit |
- |
- |
- |
- |
- |
|
Taxation |
- |
- |
- |
- |
- |
|
Profit After Tax |
- |
- |
- |
- |
- |
|
Dividends Payable |
- |
- |
- |
- |
- |
|
Retained Profit |
- |
- |
- |
- |
- |
Balance
Sheet
|
Date Of Accounts |
30/09/12 |
30/09/11 |
30/09/10 |
30/09/09 |
30/09/08 |
|
Tangible Assets |
£1,383,740 |
£1,371,069 |
£1,399,706 |
£1,394,936 |
£1,423,479 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
£1,383,740 |
£1,371,069 |
£1,399,706 |
£1,394,936 |
£1,423,479 |
|
Stock |
£382,309 |
£461,029 |
£478,084 |
£520,837 |
£548,160 |
|
Trade Debtors |
£872,257 |
£822,052 |
£761,684 |
£688,511 |
£777,037 |
|
Cash |
£33,677 |
£75,105 |
£92,801 |
£32,402 |
£37,728 |
|
Other Debtors |
0 |
0 |
0 |
0 |
0 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
0 |
|
Total Current Assets |
£1,288,243 |
£1,358,186 |
£1,332,569 |
£1,241,750 |
£1,362,925 |
|
Trade Creditors |
£189,745 |
£217,954 |
£221,679 |
£144,186 |
£260,038 |
|
Bank Loans & Overdrafts |
0 |
0 |
0 |
0 |
0 |
|
Other Short Term Finance |
0 |
0 |
0 |
0 |
0 |
|
Miscellaneous Current Liabilities |
0 |
0 |
0 |
0 |
0 |
|
Total Current Liabilities |
£189,745 |
£217,954 |
£221,679 |
£144,186 |
£260,038 |
|
Bank Loans & Overdrafts and LTL |
£24,456 |
£23,831 |
£26,122 |
£19,430 |
£13,200 |
|
Other Long Term Finance |
0 |
0 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
£24,456 |
£23,831 |
£26,122 |
£19,430 |
£13,200 |
Capital
& Reserves
|
Date Of Accounts |
30/09/12 |
30/09/11 |
30/09/10 |
30/09/09 |
30/09/08 |
|
Called Up Share Capital |
£25,000 |
£25,000 |
£25,000 |
£25,000 |
£25,000 |
|
P & L Account Reserve |
£2,432,782 |
£2,462,470 |
£2,459,474 |
£2,448,070 |
£2,488,166 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£2,457,782 |
£2,487,470 |
£2,484,474 |
£2,473,070 |
£2,513,166 |
Other
Financial Items
|
Date Of Accounts |
30/09/12 |
30/09/11 |
30/09/10 |
30/09/09 |
30/09/08 |
|
Net Worth |
£2,457,782 |
£2,487,470 |
£2,484,474 |
£2,473,070 |
£2,513,166 |
|
Working Capital |
£1,098,498 |
£1,140,232 |
£1,110,890 |
£1,097,564 |
£1,102,887 |
|
Total Assets |
£2,671,983 |
£2,729,255 |
£2,732,275 |
£2,636,686 |
£2,786,404 |
|
Total Liabilities |
£214,201 |
£241,785 |
£247,801 |
£163,616 |
£273,238 |
|
Net Assets |
£2,457,782 |
£2,487,470 |
£2,484,474 |
£2,473,070 |
£2,513,166 |
Miscellaneous
|
Date Of Accounts |
30/09/12 |
30/09/11 |
30/09/10 |
30/09/09 |
30/09/08 |
|
Contingent Liability |
NO |
NO |
NO |
NO |
NO |
|
Capital Employed |
£2,482,238 |
£2,511,301 |
£2,510,596 |
£2,492,500 |
£2,526,366 |
|
Number of Employees |
- |
- |
- |
- |
- |
|
Auditors |
|||||
|
Auditor Comments |
The company is exempt from audit |
||||
Ratios
|
Date Of Accounts |
30/09/12 |
30/09/11 |
30/09/10 |
30/09/09 |
30/09/08 |
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
Current ratio |
6.79 |
6.23 |
6.01 |
8.61 |
5.24 |
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
1 |
1 |
1.10 |
0.80 |
0.50 |
|
Equity in % |
92 |
91.10 |
90.90 |
93.80 |
90.20 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid Test |
4.77 |
4.11 |
3.85 |
4.99 |
3.13 |
|
Return On Capital Employed % |
- |
- |
- |
- |
- |
|
Return On Total Assets Employed % |
- |
- |
- |
- |
- |
|
Current Debt Ratio |
0.07 |
0.08 |
0.08 |
0.05 |
0.10 |
|
Total Debt Ratio |
0.08 |
0.09 |
0.09 |
0.06 |
0.10 |
|
Stock Turnover Ratio % |
- |
- |
- |
- |
- |
|
Return on Net Assets Employed % |
- |
- |
- |
- |
- |
Status
History
No Status History found
Event
History
|
Date |
Description |
|
19/03/2014 |
New Board Member Mr T.F. Kirk appointed |
|
11/06/2013 |
Annual Returns |
|
13/02/2013 |
New Accounts Filed |
|
11/06/2012 |
Annual Returns |
|
11/04/2012 |
Mr D.A. Shawcross has resigned as company secretary |
|
11/04/2012 |
New Company Secretary Mrs S.E. Doolin appointed |
|
03/02/2012 |
New Accounts Filed |
|
28/05/2011 |
Annual Returns |
|
10/03/2011 |
New Accounts Filed |
|
26/05/2010 |
Annual Returns |
|
15/02/2010 |
New Accounts Filed |
|
24/05/2009 |
Annual Returns |
|
22/02/2009 |
New Accounts Filed |
|
11/06/2008 |
Annual Returns |
|
10/03/2008 |
New Accounts Filed |
Previous
Company Names
No Previous Names found
Statistics
|
Group |
- |
|
Linkages |
|
|
Countries |
Group
structure
No group structure
Statistics
|
Group |
|
|
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
|
Mortgage Type: |
|||
|
Date Charge Created: |
29/05/13 |
||
|
Date Charge Registered: |
08/06/13 |
||
|
Date Charge Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s) Entitled: |
NATIONAL WESTMINSTER BANK PLC; |
||
|
Amount Secured: |
|||
|
Details: |
LAND AND BUILDINGS ON THE EAST SIDE OF
DENTON HALL FARM ROAD DENTON TITLE GM941730CONTAINS FIXED CHARGE.NOTIFICATION
OFADDITION TO OR AMENDMENT OF CHARGE. |
||
|
Mortgage Type: |
|||
|
Date Charge Created: |
22/05/13 |
||
|
Date Charge Registered: |
29/05/13 |
||
|
Date Charge Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s) Entitled: |
NATIONAL WESTMINSTER BANK PLC; |
||
|
Amount Secured: |
|||
|
Details: |
CONTAINS FIXED CHARGE.CONTAINS
FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE
COMPANY.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE. |
||
Trade
Debtors / Bad Debt Detail
|
Company Name |
Amount |
Statement Date |
|
£7,152 |
08/03/2011 |
|
|
£433 |
17/12/2009 |
|
|
£133 |
04/07/2011 |
|
Total Value |
£7,718 |
Previous
Director/Company Secretaries
|
Name |
Current Directorships |
Previous Directorships |
|
0 |
2 |
|
|
0 |
2 |
|
|
0 |
1 |
|
|
0 |
2 |
|
Average Invoice Value |
£64.40 |
|
Invoices available |
425 |
|
Paid |
380 |
|
Outstanding |
45 |
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 |
46 |
15 |
95 |
193 |
31 |
|
Outstanding |
0 |
4 |
10 |
0 |
31 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
|
UK Pound |
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.