MIRA
INFORM REPORT
|
Report Date : |
23.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
PROTHERM ENGINEERING ( |
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|
|
|
Registered Office : |
Unit 33, Birchbrook
Industrial Estate, |
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Country : |
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|
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
09.02.1984 |
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Com. Reg. No.: |
01790532 |
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|
Legal Form : |
Private limited with Share Capital |
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Line of Business : |
· Manufacturer of ovens, furnaces and furnace burners Engaged in galvanising plant and ancillary equipment. |
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|
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 |
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|
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Payment Behaviour : |
No Complaints |
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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 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: |
PROTHERM ENGINEERING (WALSALL) LIMITED |
|
Company No: |
01790532 |
|
Registered Address: |
|
UNIT 33 |
|
BIRCHBROOK INDUSTRIAL ESTATE |
|
LYNN LANE SHENSTONE |
|
WS14 0DJ |
Company summary
|
Company Name |
PROTHERM ENGINEERING (WALSALL) LIMITED |
Company Number |
01790532 |
|
|
Registered Address |
UNIT 33 |
Trading Address |
Unit 33 |
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Website Address |
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Telephone Number |
01543481143 |
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TPS |
Yes |
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|
|
|
Incorporation Date |
09/02/1984 |
Company Status |
Active - Accounts Filed |
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|
Previous Name |
|
Type |
Private limited with Share Capital |
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|
Date of Change |
- |
Filing Date of Accounts |
13/12/2013 |
|
|
|
|
Share Capital |
£2 |
|
|
SIC03 |
2921 |
Currency |
GBP |
|
|
SIC03 Description |
Manufacturer of furnaces & furnace burners |
|||
|
SIC07 |
28210 |
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|
SIC07 Description |
MANUFACTURER OF OVENS, FURNACES AND FURNACE BURNERS |
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|
Principal Activity |
Engaged in galvanising plant and ancillary
equipment. |
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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 increased by 258% during the latest trading period. |
|
|
A 81.1% growth in Total Assets occurred during the latest trading
period. |
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|
There is insufficient data to indicate a change in this company's
pre-tax profit. |
|
|
The company saw an increase in their Cash Balance of 154.8% during the
latest trading period. |
|
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The audit report contains no adverse comments. |
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No recent changes in directorship are recorded. |
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The company is part of a group. |
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|
The movement in accumulated earnings would indicate that the company
made a profit after tax and other appropriations, including dividends. |
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The company was established over 29 years ago. |
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%20LIMITED%20-%20263355%2023-Apr-2014_files/image001.gif){kind=small}
%20LIMITED%20-%20263355%2023-Apr-2014_files/image002.gif){kind=small}
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
31/03/2013 |
- |
- |
£275,984 |
- |
|
31/03/2012 |
- |
- |
£77,091 |
- |
|
31/03/2011 |
£1,041,097 |
£162,008 |
£11,981 |
- |
Payment Information Summary
|
Days Beyond
Terms |
Trend Indicator |
Average
Payment Experience |
|
||||
|
Steady Improving
Worsening |
Be the first to
leave a payment experience |
|
CCJ
|
Total Number of Exact CCJs - |
Total Value of Exact CCJs - |
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|
|
Total Number of Possible CCJs - |
Total Value of Possible CCJs - |
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Total Number of Satisfied CCJs - |
Total Value of Satisfied CCJs - |
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Total Number of Writs - |
- |
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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 |
1 |
|
Total Current Directors |
1 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
1 |
Current Directors
|
Name |
Michael Frank Brinkworth |
Date of Birth |
13/10/1948 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
4 |
Function |
Director |
|
Appointment Date |
08/06/1992 |
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|
|
Address |
79 Bedford Drive, Sutton Coldfield, West
Midlands, B75 6AX |
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Current Company Secretary
|
Name |
Margaret Jean Brinkworth |
Date of Birth |
22/08/1947 |
|
Officers Title |
Ms |
Nationality |
British |
|
Present Appointments |
2 |
Function |
Company Secretary |
|
Appointment Date |
08/06/1992 |
|
|
|
Address |
79 Bedford Drive, Sutton Coldfield, West
Midlands, B75 6AX |
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Top 20 Shareholders
|
Currency |
Share Count |
Share Type |
Nominal Value |
|
|
PROTHERM ENGINEERING (SHENSTONE) LTD |
GBP |
200 |
ORDINARY |
0.01 |
Unable to report percentage holdings as filed Shareholder
listing is not full.
Profit & Loss
|
Date Of Accounts |
31/03/13 |
31/03/12 |
31/03/11 |
31/03/10 |
31/03/09 |
|
Weeks |
52 |
52 |
52 |
52 |
52 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Consolidated A/cs |
N |
N |
N |
N |
N |
|
Turnover |
- |
- |
£1,041,097 |
£1,359,065 |
£1,138,219 |
|
Export |
- |
- |
- |
- |
- |
|
Cost of Sales |
- |
- |
£682,828 |
£803,857 |
£631,943 |
|
Gross Profit |
- |
- |
£358,269 |
£555,208 |
£506,276 |
|
Wages & Salaries |
- |
- |
- |
- |
- |
|
Directors Emoluments |
- |
- |
£10,299 |
£11,736 |
£11,095 |
|
Operating Profit |
- |
- |
£161,203 |
£363,110 |
£360,497 |
|
Depreciation |
£3,571 |
£6,633 |
£12,016 |
£10,388 |
£9,639 |
|
Audit Fees |
- |
- |
£2,750 |
£2,600 |
£2,600 |
|
Interest Payments |
- |
- |
- |
£1,597 |
£853 |
|
Pre Tax Profit |
- |
- |
£162,008 |
£364,863 |
£336,574 |
|
Taxation |
- |
- |
-£35,031 |
-£81,763 |
-£84,616 |
|
Profit After Tax |
- |
- |
£126,977 |
£283,100 |
£251,958 |
|
Dividends Payable |
- |
- |
£225,464 |
£350,000 |
£250,000 |
|
Retained Profit |
- |
- |
-£98,487 |
-£66,900 |
£1,958 |
Balance Sheet
|
Date Of Accounts |
31/03/13 |
31/03/12 |
31/03/11 |
31/03/10 |
31/03/09 |
|
Tangible Assets |
£23,378 |
£35,969 |
£28,361 |
£45,430 |
£43,009 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
£23,378 |
£35,969 |
£28,361 |
£45,430 |
£43,009 |
|
Stock |
0 |
£98,828 |
£45,706 |
£17,245 |
£26,720 |
|
Trade Debtors |
£549,513 |
£246,811 |
£424,636 |
£310,129 |
£223,780 |
|
Cash |
£408,955 |
£160,473 |
£26,106 |
£308,649 |
£345,372 |
|
Other Debtors |
0 |
0 |
£63,001 |
£28,784 |
£10,161 |
|
Miscellaneous Current Assets |
0 |
0 |
£14,026 |
£13,493 |
£8,309 |
|
Total Current Assets |
£958,468 |
£506,112 |
£573,475 |
£678,300 |
£614,342 |
|
Trade Creditors |
£703,732 |
£463,434 |
£588,576 |
£144,132 |
£478,856 |
|
Bank Loans & Overdrafts |
0 |
0 |
0 |
0 |
0 |
|
Other Short Term Finance |
0 |
0 |
0 |
£292,397 |
0 |
|
Miscellaneous Current Liabilities |
0 |
0 |
0 |
£175,422 |
0 |
|
Total Current Liabilities |
£703,732 |
£463,434 |
£588,576 |
£611,951 |
£478,856 |
|
Bank Loans & Overdrafts and LTL |
£2,130 |
£1,556 |
£1,279 |
£1,310 |
£1,126 |
|
Other Long Term Finance |
0 |
0 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
£2,130 |
£1,556 |
£1,279 |
£1,310 |
£1,126 |
Capital & Reserves
|
Date Of Accounts |
31/03/13 |
31/03/12 |
31/03/11 |
31/03/10 |
31/03/09 |
|
Called Up Share Capital |
£2 |
£2 |
£2 |
£2 |
£2 |
|
P & L Account Reserve |
£275,982 |
£77,089 |
£11,979 |
£110,467 |
£177,367 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£275,984 |
£77,091 |
£11,981 |
£110,469 |
£177,369 |
Other Financial Items
|
Date Of Accounts |
31/03/13 |
31/03/12 |
31/03/11 |
31/03/10 |
31/03/09 |
|
Net Worth |
£275,984 |
£77,091 |
£11,981 |
£110,469 |
£177,369 |
|
Working Capital |
£254,736 |
£42,678 |
-£15,101 |
£66,349 |
£135,486 |
|
Total Assets |
£981,846 |
£542,081 |
£601,836 |
£723,730 |
£657,351 |
|
Total Liabilities |
£705,862 |
£464,990 |
£589,855 |
£613,261 |
£479,982 |
|
Net Assets |
£275,984 |
£77,091 |
£11,981 |
£110,469 |
£177,369 |
Miscellaneous
|
Date Of Accounts |
31/03/13 |
31/03/12 |
31/03/11 |
31/03/10 |
31/03/09 |
|
|
Contingent Liability |
NO |
NO |
NO |
NO |
NO |
|
|
Capital Employed |
£278,114 |
£78,647 |
£13,260 |
£111,779 |
£178,495 |
|
|
Number of Employees |
- |
- |
- |
- |
- |
|
|
Auditors |
WEATHERER BAILEY BRAGG LLP |
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|
Auditor Comments |
The audit report contains no adverse comments |
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Ratios
|
Date Of Accounts |
31/03/13 |
31/03/12 |
31/03/11 |
31/03/10 |
31/03/09 |
|
Pre-tax profit margin % |
- |
- |
15.56 |
26.85 |
29.57 |
|
Current ratio |
1.36 |
1.09 |
0.97 |
1.11 |
1.28 |
|
Sales/Net Working Capital |
- |
- |
-68.94 |
20.48 |
8.40 |
|
Gearing % |
0.80 |
2 |
10.70 |
1.20 |
0.60 |
|
Equity in % |
28.10 |
14.20 |
2 |
15.30 |
27 |
|
Creditor Days |
- |
- |
205.78 |
38.60 |
153.13 |
|
Debtor Days |
- |
- |
148.46 |
83.06 |
71.56 |
|
Liquidity/Acid Test |
1.36 |
0.87 |
0.89 |
1.08 |
1.22 |
|
Return On Capital Employed % |
- |
- |
1221.77 |
326.41 |
188.56 |
|
Return On Total Assets Employed % |
- |
- |
26.91 |
50.41 |
51.20 |
|
Current Debt Ratio |
2.54 |
6.01 |
49.12 |
5.53 |
2.69 |
|
Total Debt Ratio |
2.55 |
6.03 |
49.23 |
5.55 |
2.70 |
|
Stock Turnover Ratio % |
- |
- |
4.39 |
1.26 |
2.34 |
|
Return on Net Assets Employed % |
- |
- |
1352.20 |
330.28 |
189.75 |
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
23/12/2013 |
New Accounts Filed |
|
07/06/2013 |
Annual Returns |
|
20/11/2012 |
New Accounts Filed |
|
20/11/2012 |
New Accounts Filed |
|
24/07/2012 |
Annual Returns |
|
28/10/2011 |
New Accounts Filed |
|
28/10/2011 |
New Accounts Filed |
|
28/05/2011 |
Annual Returns |
|
17/12/2010 |
New Accounts Filed |
|
17/12/2010 |
New Accounts Filed |
|
29/05/2010 |
Annual Returns |
|
11/09/2009 |
New Accounts Filed |
|
11/09/2009 |
New Accounts Filed |
|
07/06/2009 |
Annual Returns |
|
18/12/2008 |
New Accounts Filed |
Previous Company Names
|
No Previous Names found |
Statistics
|
Group |
2 companies |
|
Linkages |
|
|
Countries |
Summary
|
Holding Company |
PROTHERM ENGINEERING (SHENSTONE) LIMITED |
|
Ownership Status |
Wholly Owned |
|
Ultimate Holding Company |
PROTHERM ENGINEERING (SHENSTONE) LIMITED |
Group structure
|
COMPANY NAME |
|
REGISTERED NUMBER |
LATEST KEY FINANCIALS |
CONSOL. ACCOUNTS |
TURNOVER |
|
|
03503378 |
31.03.2013 |
N |
|
|
|
|
01790532 |
31.03.2013 |
N |
|
%20LIMITED%20-%20263355%2023-Apr-2014_files/image003.gif){kind=small}
%20LIMITED%20-%20263355%2023-Apr-2014_files/image004.gif){kind=small}
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: |
CHARGE OVER DEPOSITS |
||
|
Date Charge
Created: |
18/09/03 |
|
|
|
Date Charge
Registered: |
26/09/03 |
|
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Date Charge
Satisfied: |
14/05/10 |
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|
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Status: |
SATISFIED |
|
|
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Person(s)
Entitled: |
AIB GROUP (UK)
P.L.C. |
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Amount Secured: |
|
||
|
Details: |
FIRST FIXED
CHARGE OVER ANY SUMS DEPOSITED OR TO BE DEPOSITED BY THE COMPANY INANY DEPOSIT
ACCOUNT OF THE COMPANY HELDWITH THE BANK AT ANY OF ITS BRANCHES |
||
|
Mortgage Type: |
CHARGE OVER
DEPOSITS |
||
|
Date Charge
Created: |
27/01/99 |
|
|
|
Date Charge
Registered: |
03/02/99 |
|
|
|
Date Charge
Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
AIB GROUP (UK)
PLC |
||
|
Amount Secured: |
ALL MONIES DUE
OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
FIRST FIXED
CHARGE OVER ANY SUMS DEPOSITED OR TO BE DEPOSITED BY THE COMPANY INANY
DEPOSIT ACCOUNT |
||
|
Mortgage Type: |
MORTGAGE
DEBENTURE |
||
|
Date Charge
Created: |
19/07/93 |
|
|
|
Date Charge
Registered: |
21/07/93 |
|
|
|
Date Charge
Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
ALLIED IRISH
BANKS PLC |
||
|
Amount Secured: |
ALL MONIES DUE
OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
FREEHOLD PROPERTY KNOWN AS UNIT 33 BIRCHBROOK
INDUSTRIAL PARK SHENSTONE LICHFIELD STAFFORDSHIRE TITLE NO. SF 304336 FIXED
AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS
PRESENTAND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS
FIXTURES FIXED PLANT AND MACHINERY |
||
Creditor Details
|
No Creditor Data |
|
|
Total Value |
- |
Trade Debtors / Bad Debt Detail
|
No Debtor Data |
|
|
Total Value |
- |
Previous Director/Company Secretaries
|
Name |
Current Directorships |
Previous Directorships |
|
Simon William Andrew Clark |
0 |
2 |
|
Average Invoice Value |
£99.19 |
|
Invoices available |
7 |
|
Paid |
6 |
|
Outstanding |
1 |
|
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 |
3 |
3 |
0 |
0 |
0 |
|
Outstanding |
0 |
0 |
1 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.71 |
|
UK Pound |
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.83.77 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
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.