MIRA INFORM REPORT

 

 

Report Date :

17.04.2014

 

IDENTIFICATION DETAILS

 

Name :

AZELIS UK LIFE SCIENCES LTD. 

 

 

Formerly Known As :

S. Black Ltd.

 

 

Registered Office :

Foxholes Business Park, John Tate Road, Hertford, SG13 7YH

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

20.06.1968

 

 

Com. Reg. No.:

00934139

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Subject provides sales, marketing and technical support services to the healthcare, cosmetics and pharmaceutical industries in the United Kingdom.

 

Engaged in sale and distribution of speciality ingredients for the personal care, food,healthcare and fragrance ingredients sectors.

 

Subject offers various ingredients, such as preservatives, acidulants and sweeteners for the production of beverages, desserts, and bakery, confectionery, meat and fish products.

 

 

No. of Employees :

107

 

 

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 :

Slow but Correct  

 

 

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 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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

Azelis UK Life Sciences Ltd.

                                                                                                                                                                    

 

Sand Road Industrial Estate

Sand Road

Great Gransden

Sandy, SG19 3AH

United Kingdom

(Trading Address)

 

Tel:

01767 677666

Fax:

44-1992825566

 

Web: www.azelis.com

 

Employees:

107

Company Type:

Private Subsidiary

Corporate Family:

3 Companies

Ultimate Parent:

Azelis S.A.

Quoted Status:

Non-quoted Company

Incorporation Date:

20-Jun-1968

Auditor:

Deloitte LLP

Financials

(USD) Millions

Fiscal Year End:

31-Dec-2012

Reporting Currency:

British Pound Sterling

Annual Sales:

125.3  1

Net Income:

4.7

Total Assets:

86.8

 

Business Description     

 

 

Founded in 1995, S. Black Ltd. is one of the leading companies that provides sales, marketing and technical support services to the healthcare, cosmetics and pharmaceutical industries in the United Kingdom. It offers various ingredients, such as preservatives, acidulants and sweeteners for the production of beverages, desserts, and bakery, confectionery, meat and fish products. The company operates and maintains several laboratories. It offers assistance with product formulation to the manufacturers of creams, lotions and gels. In addition, the company conducts microscopic emulsion analysis. It offers product sampling solutions and advice on various issues related to regulatory compliance. The company also maintains warehouses to provide product delivery services. It offers oils, acidifiers, emulsifiers, fibres, anti-oxidants, minerals and vitamins.

 

Industry

 

Industry

Chemical Wholesale

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:

4675 - Wholesale of chemical products

NAICS 2012:

4246 - Chemical and Allied Products Merchant Wholesalers

UK SIC 2007:

4675 - Wholesale of chemical products

US SIC 1987:

516 - Chemicals and Allied Products

 

Key Executives   

 

Name

Title

Stanley Black

President

David Michael Mccabe

Finance Director, Director, Secretary

Christina Taylor

Manager-Sales-Materials, Pigments & Additives-UK & Ireland

Ian Corke

Manager-Market-Materials, Pigments & Additives-UK & Ireland

Gillian Berry

Head of Corporate Communications

 

 

Financial Summary    

 

 

FYE: 31-Dec-2012

USD (mil)

Key Figures

 

Current Assets

76.86

Fixed Assets

9.96

Total Liabilities

36.61

Net Worth

50.17

 

Key Ratios

 

Current Ratio

2.10

Acid Test

1.67

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6311738
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6190609

 

 

 

Corporate Overview

Location
Sand Road Industrial Estate
Sand Road
Great Gransden
Sandy, SG19 3AH
Bedfordshire County
United Kingdom

 

Tel:

01767 677666

Fax:

44-1992825566

 

www.azelis.com

Sales GBP(mil):

79.1

Assets GBP(mil):

53.7

Employees:

107

Fiscal Year End:

31-Dec-2012

 

 

 

Industry:

Chemical Manufacturing

Registered Address:
Foxholes Business Park
John Tate Road
Hertford, SG13 7YH
United Kingdom

 

Incorporation Date:

20-Jun-1968

Company Type:

Private Subsidiary

Quoted Status:

Not Quoted

Previous Name:

S. Black Ltd.

Registered No.(UK):

00934139

 

President:

Stanley Black

Industry Codes

 

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

Founded in 1995, S. Black Ltd. is one of the leading companies that provides sales, marketing and technical support services to the healthcare, cosmetics and pharmaceutical industries in the United Kingdom. It offers various ingredients, such as preservatives, acidulants and sweeteners for the production of beverages, desserts, and bakery, confectionery, meat and fish products. The company operates and maintains several laboratories. It offers assistance with product formulation to the manufacturers of creams, lotions and gels. In addition, the company conducts microscopic emulsion analysis. It offers product sampling solutions and advice on various issues related to regulatory compliance. The company also maintains warehouses to provide product delivery services. It offers oils, acidifiers, emulsifiers, fibres, anti-oxidants, minerals and vitamins.

More Business Descriptions

Sale and distribution of speciality ingredients for the personal care, food,healthcare and fragrance ingredients sectors.

Chemicals Distr

Sale and distribution of speciality ingredients for the personal care, food,healthcare and fragrance ingredients sectors.

Azelis is the leading pan-European speciality chemicals distributor. We provide a diverse range of products and innovative services to more than 30,000 customers. Our in-depth local knowledge is supported by an international structure and value-added services including high levels of technical support and tailored solutions. Azelis Vision Our vision of how to support our customers and principals drives a dynamic, innovative and creative business. Read more Financial Information Azelis most recent financial reports, detailing recent performance right across the company.

 

Financial Data

Financials in:

GBP(mil)

Revenue:

79.1

Net Income:

3.0

Assets:

53.7

Current Assets:

47.6

Fixed Assets:

6.2

Long Term Debt:

0.0

Total Liabilities:

22.7

Issued Capital:

0.1

Working Capital:

24.9

Net Worth:

31.1

Date of Financial Data:

31-Dec-2012

1 Year Growth

52.0%

NA

NA

Key Corporate Relationships

Auditor:

Deloitte LLP

Bank:

Fortis Bank Sa

Auditor:

Deloitte LLP, Deloitte LLP

Auditor History

Deloitte LLP

31-Dec-2012

Deloitte LLP

31-Dec-2011

Deloitte LLP

31-Dec-2010

Deloitte LLP

31-Dec-2009

KPMG LLP

31-Dec-2008

 

GBP(mil)

Audit Fees:

0.1

Audit Fiscal Year:

12-31-2012

 

 

Corporate Family

Corporate Structure News:

Azelis UK Life Sciences Ltd.

Azelis UK Life Sciences Ltd.
Total Corporate Family Members: 3

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Azelis S.A.

Parent

 

Azelis UK Life Sciences Ltd.

Subsidiary

Sandy

United Kingdom

Chemical Wholesale

125.3

107

 

Azelis UK Life Sciences Ltd.

UK Branch/Trading address

Hertford

United Kingdom

Chemical Wholesale

125.3

 

 

 

Executives Report

 

Board of Directors

 

Name

Title

Function

 

Robert Goethem

Chairman

Chairman

 

Biography:

Robert is responsible for 3i's global Consumer Sector focusing on Consumer Products, Food and Beverage, Retail and Leisure. He joined 3i in 2005 as a Partner and is based in 3i's Benelux office. He has been involved in a.o. Action, Hyva, ABX LOGISTICS, Aviapartner and VNU Media. He currently serves on the Board of Directors of Action, AMOR, Aviapartner, and Azelis. Prior to joining 3i, Robert was a Partner at Permira. Beforehand Robert worked in private equity related finance areas at Salomon Smith Barney (now Citigroup) in London, Citibank in London and Chase Manhattan Bank (now JP Morgan) in New York. He holds an MBA from the University of Chicago, a degree in Business Administration for the University of Louvain (Louvain-la-Neuve, Belgium), and a Law degree from the University of Louvain (Leuven, Belgium).

Joris Sylvain Adelin Coppye

Director

Director/Board Member

Age: 47

Martin Hollenhorst

Director

Director/Board Member

Biography:

Martin Hollenhorst holds a degree from the Westfälische Wilhelmsuniversität, MĂ¼nster, with a Master of Business Administration (MBA). Martin has over 17 years experience in CFO or Managing Director roles in various industrial manufacturing and engineering companies (machine tools, plant equipment and design) and in the automotive industry and rail transportation. In his most recent assignments Martin was CFO and Managing Director at Loyalty Partner GmbH in Munich in 2008, responsible for finance, IT, legal and purchasing and in 2005 was CFO at DĂ¼rr AG in Stuttgart. He joined Azelis in 2012 from Chassis Brakes International Group, Paris where he was Vice President Transition Management. Martin is responsible for all financial aspects, supporting Azelis during the next phase of the company's development.

Age: 54

Gunther Reinhard Krausser

Director

Director/Board Member

Age: 52

David Michael Mccabe

Finance Director, Director, Secretary

Director/Board Member

Age: 60

Hans Joachim Muller

Director

Director/Board Member

Biography:

Hans-Joachim MĂ¼ller holds a PhD in Chemistry from the Ludwig-Maximilians-University in Munich and a research fellowship at the University of California in Los Angeles (UCLA).He joins Azelis from Clariant where he sat on the Executive Committee. His responsibilities included the Business Units Catalysis & Energy, Emulsions, Detergents & Intermediates and Oil & Mining Services. Previously, at SĂ¼d-Chemie he was a Member of the Managing Board and Head of the Catalytic Technologies global Business Unit. His professional career started at BASF in Germany and continued in Hong Kong, where he was responsible for the catalyst business in the Asia-Pacific region. As Group CEO, Hans-Joachim MĂ¼ller is ultimately responsible for achieving the financial returns set by the shareholders and for implementing the strategic direction set by the Board.

Age: 54

Joan Teresa Traynor

Director

Director/Board Member

Age: 54

 

 

Executives

 

Name

Title

Function

 

Stanley Black

President

President

 

Laurent Nataf

Group Chief Operating Officer

Division Head Executive

 

Biography:

Laurent Nataf has a Masters Degree in Engineering from the Engineering School of Industrial Chemistry of Lyon and an MBA from the Sorbonne Graduate Business School in Paris. He began his career with 6 years in R&D and production for PNR, a French based heavy detergents company. In 2003 he became marketing and sales manager for Arnaud, with responsibility for intermediates, custom synthesis, formulation additives and active ingredients. Laurent took on the role of International Business Director, Chemical Industries in 2008, assumed responsibility for Composites in 2010 and then took on overall responsibility for the Azelis Industrial Chemicals business. From 2012 Laurent holds the position of Group Chief Operating Officer.

David Michael Mccabe

Finance Director, Director, Secretary

Company Secretary

Age: 60

Christina Taylor

Manager-Sales-Materials, Pigments & Additives-UK & Ireland

International Sales Executive

 

Gillian Berry

Head of Corporate Communications

Corporate Communications Executive

 

Ian Corke

Manager-Market-Materials, Pigments & Additives-UK & Ireland

Purchasing Executive

 

Trevor Bridger

Regional Manager-Pharma Business Unit-UK & Ireland

Medical Specialist

 

Social:

 

Directors and Shareholders Report

 

Main Office Address:
Sand Road Industrial Estate
Sand Road
Sandy
United Kingdom SG19 3AH

Tel: 01767 677666
Fax: 44-1992825566
URL: http://www.azelis.com

Annual Return Date: 21 Nov 2013
Total Issued Capital (GBP 000): 115

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

Hans Joachim
Muller

Current

18 Apr 1959

Alexander House Crown Gate,
Runcorn, Cheshire WA7 2UP

01 Nov 2012

NA

Current:11
Previous:0
Disqualifications:0

Martin
Hollenhorst

Current

28 Aug 1959

Alexander House, Crown Gate,
Runcorn, Cheshire WA7 2UP

01 Dec 2012

NA

Current:10
Previous:0
Disqualifications:0

David Michael
Mccabe

Current

10 Dec 1953

Four Oaks, 54 Howey Lane,
Frodsham, Cheshire WA6 6DL

10 Oct 2007

NA

Current:13
Previous:0
Disqualifications:0

Joan
Traynor

Current

01 Oct 1959

14 Lyme Grove,
Altrincham, Cheshire WA14 2AD

01 Jan 2010

NA

Current:11
Previous:0
Disqualifications:0

Andrew Graeme
Raybould

Previous

27 Nov 1958

Lawns Farm Bungalow, Boreham Road Little Waltham,
Chelmsford, Essex CM3 3NF

21 Nov 1991

01 Dec 2010

Current:0
Previous:1
Disqualifications:0

David George
Saunter

Previous

17 Jul 1946

Owls Hall Cottage, Blackmore End,
Braintree, Essex CM7 4DF

21 Nov 1991

30 Jun 2002

Current:0
Previous:1
Disqualifications:0

Anthony George Frederick
Difford

Previous

21 Nov 1935

6 Great Till Close, Otford,
Sevenoaks, Kent TN14 5LQ

21 Nov 1991

31 Dec 1996

Current:0
Previous:3
Disqualifications:0

George
Ewart

Previous

06 Sep 1937

The Old Rectory, Scruton,
Northallerton, North Yorkshire DL7 0QZ

04 Aug 1997

28 Feb 2009

Current:0
Previous:2
Disqualifications:0

John Benjamin
Lowten

Previous

NA

315 Knightsfield,
Welwyn Garden City, Hertfordshire AL8 7NJ

01 Jan 1997

31 Mar 2009

Current:0
Previous:5
Disqualifications:0

Peter Richard
Fields

Previous

27 Jul 1960

Fawside Farm Longnor,
Buxton, Derbyshire SK17 0RA

10 Oct 2007

31 Jul 2009

Current:7
Previous:4
Disqualifications:0

Zelda
Black

Previous

05 Nov 1933

5 Hazel Mead, Arkley,
Barnet, Hertfordshire EN5 3LP

21 Nov 1991

31 Dec 1996

Current:0
Previous:1
Disqualifications:0

Paul David
Hardman

Previous

09 Jun 1955

Howard House Chester Road, Kelsall,
Tarporley, Cheshire CW6 0RT

01 Feb 2002

30 Sep 2008

Current:0
Previous:2
Disqualifications:0

Christopher
Davies

Previous

07 Aug 1956

2 Tudor Rise,
Broxbourne, Hertfordshire EN10 7HB

01 Aug 1995

30 Apr 1998

Current:0
Previous:2
Disqualifications:0

Stanley
Black

Previous

15 Feb 1931

Scandinavia House Refinery Road, Parkeston,
Harwich, Essex CO12 4QG

21 Nov 1991

15 Jun 2010

Current:0
Previous:3
Disqualifications:0

Neil Leonard
Berry

Previous

25 Apr 1959

40 Townsend Lane,
Harpenden, Hertfordshire AL5 2QS

21 Nov 1991

01 May 2010

Current:1
Previous:1
Disqualifications:0

Gunther Reinhard
Krausser

Previous

26 May 1961

Cunningham House Westfield Lane,
Kenton, Middlesex HA3 9ED

02 Dec 2011

01 Dec 2012

Current:0
Previous:10
Disqualifications:0

Joris Sylvain Adelin
Coppye

Previous

15 Jun 1966

Alexander House, Crown Gate,
Runcorn, Cheshire WA7 2UP

02 Dec 2011

01 Oct 2012

Current:0
Previous:5
Disqualifications:0

John Roger
Tass

Previous

NA

4 Mill Croft,
Bishops Stortford, Hertfordshire CM23 2BP

01 Jun 2000

31 Aug 2009

Current:0
Previous:1
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

David Michael
Mccabe

Current

NA

Foxholes Business Park, John Tate Road,
Hertford, Hertfordshire SG13 7YH

01 Jul 2010

NA

Current:1
Previous:0
Disqualifications:0

John Benjamin
Lowten

Previous

NA

315 Knightsfield,
Welwyn Garden City, Hertfordshire AL8 7NJ

30 Apr 1998

20 Jun 2008

Current:0
Previous:5
Disqualifications:0

Paula Elizabeth
Sutton

Previous

16 Oct 1969

Highleigh 36 South Road, Puckeridge,
Ware, Hertfordshire SG11 1TH

20 Jun 2008

01 Jul 2010

Current:0
Previous:1
Disqualifications:0

Christopher
Davies

Previous

07 Aug 1956

2 Tudor Rise,
Broxbourne, Hertfordshire EN10 7HB

01 Jul 1992

30 Apr 1998

Current:0
Previous:2
Disqualifications:0

 

 

 

Corporate Secretaries

There are no corporate secretaries for this company.

 

Individual Shareholders

There are no individual shareholders for this company.

 

 

 

Corporate Shareholders

Company Name

Registration Number

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Azelis UK Holdings Limited

04381177

115000 Ordinary GBP 1.00

Ordinary

115,000

1.00

115,000.00

100.00



Annual Profit & Loss

Financials in: USD (mil) 

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

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.631174

0.623776

0.647573

0.641508

0.545576

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Turnover (UK)

81.7

65.2

59.7

-

56.7

Turnover (Exports)

43.7

18.2

12.0

-

12.5

Total Turnover

125.3

83.4

71.6

65.0

69.2

Cost of Sales

103.0

63.6

58.1

51.1

56.4

Gross Profit

22.3

19.8

13.5

14.0

12.8

Depreciation

0.5

0.4

0.4

0.4

0.6

Other Expenses

15.9

12.4

3.9

9.1

11.4

Operating Profit

6.4

7.4

9.6

4.9

1.3

Other Income

1.5

1.2

0.7

0.1

0.0

Interest Paid

1.7

0.0

0.5

0.3

0.0

Exceptional Income

0.0

0.0

0.0

0.0

0.0

Discontinued Operations

0.0

0.0

0.0

0.0

0.0

Profit Before Taxes

6.1

8.6

9.9

4.7

1.4

Tax Payable / Credit

1.4

2.3

1.3

1.3

0.5

Extraordinary Items/Debits

0.0

0.0

0.0

0.0

0.0

Dividends

0.0

0.0

0.0

0.0

0.0

Profit After Taxes

4.7

6.2

8.7

3.4

0.9

Minority Interests (Profit & Loss)

0.0

0.0

0.0

0.0

0.0

Audit Fees

0.1

0.0

0.0

0.0

0.1

Non Audit Fees

-

0.0

0.0

0.0

0.0

Number of Employees

107

79

86

88

92

Wages

6.9

4.5

4.4

3.7

5.8

Social Security Costs

0.8

0.5

0.5

0.4

0.6

Pensions

0.0

0.0

0.1

0.1

0.1

Other Pension Costs

0.5

0.3

0.3

0.2

0.2

Employees Remuneration

8.3

5.3

5.2

4.4

6.6

Directors Emoluments

0.0

0.0

0.3

0.7

1.2

Other Costs

0.0

0.0

0.0

0.0

0.0

Directors Remuneration

0.0

0.0

0.4

0.8

1.3

Highest Paid Director

0.0

0.0

0.2

0.3

0.3


Annual Balance Sheet

Financials in: USD (mil)

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.619061

0.643459

0.638712

0.619253

0.695531

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Land & Buildings

0.0

0.0

0.0

0.1

0.1

Fixtures & Fittings

0.7

0.8

1.0

1.0

0.7

Plant & Vehicles

0.1

0.1

0.1

0.3

0.5

Total Tangible Fixed Assets

0.8

1.0

1.1

1.3

1.2

Intangible Assets

0.0

0.0

0.0

0.0

0.0

Investments

9.1

0.0

0.0

1.3

1.1

Total Fixed Assets

10.0

1.0

1.2

2.6

2.4

Stocks

15.9

16.3

10.7

-

7.4

Work in Progress

0.0

0.0

0.0

-

0.0

Total Stocks Work In Progress

15.9

16.3

10.7

9.1

7.4

Trade Debtors

7.1

20.5

1.8

2.6

8.4

Inter-Company Debtors

16.9

26.9

26.9

20.1

0.1

Other Debtors

5.8

16.8

5.8

1.3

0.8

Total Debtors

29.7

64.3

34.4

24.0

9.3

Cash and Equivalents

31.3

16.8

10.5

7.8

14.7

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

76.9

97.4

55.6

40.9

31.4

Total Assets

86.8

98.4

56.9

43.6

33.8

Trade Creditors

15.4

15.3

8.6

10.0

7.8

Bank Overdraft

0.0

0.7

4.9

-

-

Inter-Company Creditors

17.7

35.0

2.4

1.8

1.1

Accruals/Deferred Income (Current Liability)

0.5

1.0

1.6

0.8

0.8

Social Security/VAT

0.7

0.5

0.1

0.5

0.2

Corporation Tax

2.1

2.2

1.2

0.3

0.0

Other Current Liabilities

0.2

0.0

0.0

0.1

0.3

Total Current Liabilities

36.6

54.7

19.0

13.5

10.2

Group Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Director Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Hire Purchase (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Leasing (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Total Hire Purchase Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Loans

0.0

0.0

0.0

0.0

0.0

Accruals/Deferred Income (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Liabilities

0.0

0.0

0.0

0.0

0.0

Total Long Term Liabilities

0.0

0.0

0.0

0.0

0.0

Deferred Taxation

0.0

0.0

0.0

0.0

0.0

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

0.2

0.2

0.2

0.2

0.2

Share Premium Accounts

0.7

0.6

0.6

0.7

0.6

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

49.4

42.8

37.1

29.2

22.9

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

50.2

43.7

37.9

30.0

23.6

Net Worth

50.2

43.6

37.9

30.0

23.6

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.631174

0.623776

0.647573

0.641508

0.545576

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.619061

0.643459

0.638712

0.619253

0.695531

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

2.10

1.78

2.93

3.03

3.09

Liquidity Ratio

1.67

1.48

2.37

2.35

2.37

Stock Turnover

8.06

4.95

6.79

7.41

7.37

Credit Period (Days)

20.23

92.60

8.81

14.35

56.71

Working Capital by Sales

31.50%

52.71%

50.50%

40.68%

39.15%

Trade Credit by Debtors

2.18

0.75

4.93

3.79

0.92

Return on Capital

12.41%

18.99%

26.57%

16.29%

4.54%

Return on Assets

7.18%

8.43%

17.71%

11.23%

3.18%

Profit Margin

4.88%

10.25%

13.86%

7.26%

1.98%

Return on Shareholders Funds

12.41%

18.99%

26.57%

16.29%

4.54%

Borrowing Ratio

35.26%

81.86%

19.21%

6.10%

4.48%

Equity Gearing

57.83%

44.37%

66.64%

68.92%

69.89%

Interest Coverage

3.53

485.00

21.87

18.02

746.00

Sales by Tangible Assets

15,664.00

8,367.00

6,338.00

5,196.00

4,483.00

Average Remuneration per Employee

0.1

0.1

0.1

0.1

0.1

Profit per Employee

0.1

0.1

0.1

0.1

0.0

Sales per Employee

1.2

1.0

0.8

0.8

0.6

Capital Employed per Employee

0.5

0.6

0.4

0.3

0.3

Tangible Assets per Employee

0.0

0.0

0.0

0.0

0.0

Total Assets per Employee

0.8

1.2

0.7

0.5

0.4

Employee Remuneration by Sales

6.59%

6.37%

7.19%

6.77%

9.55%

Creditor Days (Cost of Sales Based)

53.67

90.77

53.53

69.27

64.16

Creditor Days (Sales Based)

44.11

69.23

43.43

54.39

52.30

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.23

UK Pound

1

Rs.100.79

Euro

1

Rs.83.29

 

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.