MIRA INFORM REPORT

 

 

Report Date :

08.08.2014

 

IDENTIFICATION DETAILS

 

Name :

FILPLASTIC (UK) LIMITED

 

 

Registered Office :

Aldgate House, 1-4 Market Place Hull East Yorkshire HU1 1RS

 

 

Country :

United kingdom

 

 

Financials (as on) :

31.05.2013

 

 

Date of Incorporation :

27.05.1993

 

 

Legal Form :

Private Limited with Share Capital

 

 

Line of Business :

Non-Specialised Wholesale Trade

LOB:

[We tried to confirm / obtain the detailed activity but the same is not available from any sources)

 

 

No. of Employees

Not Available

 

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 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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

REGISTERED NAME & COMPANY SUMMARY

 

FILPLASTIC (UK) LIMITED

 

 

DIRECTORS/MANAGEMENT

 

Current Directors

Name

Paul Taylor

Date of Birth

17/04/1955

Officers Title

Mr

Nationality

British

Present Appointments

9

Function

Director

Appointment Date

28/05/1992

 

 

Address

Sandwood House, Spaldington, East Yorkshire, DN14 7NG

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Alison Jane Taylor

Date of Birth

29/07/1957

Officers Title

Mrs

Nationality

British

Present Appointments

9

Function

Director

Appointment Date

10/06/2001

 

 

Address

Sandwood House, Spaldington, East Yorkshire, DN14 7NG

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

Current Company Secretary

Name

Alison Jane Taylor

Date of Birth

29/07/1957

Officers Title

Mrs

Nationality

British

Present Appointments

9

Function

Company Secretary

Appointment Date

10/06/2001

 

 

Address

Sandwood House, Spaldington, East Yorkshire, DN14 7NG

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

Paul Godding

4

8

Paul Taylor

9

1

John Jones

1

1

SILVERMACE SERVICES LIMITED

26

307

SILVERMACE LIMITED

11

42

 

 

NEGATIVE INFORMATION

 

Mortgage Summary

Total Mortgage         2

Outstanding             1

Satisfied                  1

 

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade          2

Total Value of Documented Trade             £1,214

 

CCJ

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

Total Number of Writs -

-

 

 

 

Exact CCJ Details

No CCJs found

 

Possible CCJs Details

There are no possible CCJ details

 

Writ Details

No writs found

 

Mortgage Details

Mortgage Type:

FIXED CHARGE ON PURCHASED DEBTS WHICH FAIL TO VEST AND ON OTHER DEBTS AND FLOATING CHARGE ON PROCEEDS OF OTHER DEBTS

Date Charge Created:

29/01/04

 

 

Date Charge Registered:

12/02/04

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

BARCLAYS BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

ANY DEBT PURCHASED OR PURPORTED TO BE PURCHASED INCLUDING RELATED RIGHTS WHICH FAIL TO VEST, ALL AMOUNTS OF INDEBTDNESS. BY WAY OF FLOATING CHARGE SUCH MONIES RECEIVED IN RESPECT OF THE OTHER DEBTS SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

Mortgage Type:

DEBENTURE

Date Charge Created:

03/04/99

 

 

Date Charge Registered:

09/04/99

 

 

Date Charge Satisfied:

08/06/02

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

JOHN JONES

Amount Secured:

£70,000 AND OTHER MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE

Details:

BY WAY OF FIRST PRIORITY FLOATING CHARGE THE UNDERTAKING AND PROPERTY INCLUDINGUNCALLED CAPITAL

 

Creditor Details

 

Total Number

Total Value

Trade Creditors

0

-

 

No Creditor Data

 

Trade Debtors / Bad Debt Detail

 

Total Number of Documented Trade

Total Value of Documented Trade

Trade Debtors

2

£1,214

 

Company Name

Amount

Statement Date

The Really Cheap Racking Company Ltd

£934

22/12/2011

Wardell Shopfitters Ltd

£280

22/06/2011

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

MRS ALISON TAYLOR

GBP

100

ORDINARY B

0.5

PAUL TAYLOR

GBP

98

ORDINARY A

1

ALISON JANE TAYLOR

GBP

2

ORDINARY A

1

 

 

 

PAYMENT INFORMATION

 

Average Invoice Value

£341.25

Invoices available

158

Paid

149

Outstanding

9

 

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

50

65

32

2

0

Outstanding

0

0

0

2

7

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Group structure

No group structure

 

 

FINANCIAL INFORMATION

 

 

Profit & Loss

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

(%)

31/05/09

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

£31,640

-0.4%

£31,758

22%

£26,032

11.6%

£23,335

8.5%

£21,502

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

Balance Sheet

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

(%)

31/05/09

Tangible Assets

£159,726

-9.4%

£176,248

-5.8%

£187,101

12.6%

£166,124

2%

£162,894

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£159,726

-9.4%

£176,248

-5.8%

£187,101

12.6%

£166,124

2%

£162,894

Stock

£292,466

10.6%

£264,485

-18.5%

£324,555

33.6%

£242,922

-30.1%

£347,401

Trade Debtors

£775,623

15.9%

£668,954

-16.7%

£802,696

60.9%

£498,926

-5%

£525,366

Cash

£25,934

61.4%

£16,069

999.9%

£516

2.2%

£505

-98.3%

£29,555

Other Debtors

£73,702

10.9%

£66,463

-

0

-

0

-100%

£39,848

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£1,167,725

14.9%

£1,015,971

-9.9%

£1,127,767

51.9%

£742,353

-21.2%

£942,170

Trade Creditors

£1,191,790

21.4%

£982,088

-9.1%

£1,080,821

43.9%

£751,295

-23.4%

£980,603

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

£1,191,790

21.4%

£982,088

-9.1%

£1,080,821

43.9%

£751,295

-23.4%

£980,603

Bank Loans & Overdrafts and LTL

£38,033

-43.8%

£67,698

-20.5%

£85,116

29.8%

£65,577

802.8%

£7,264

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

£38,033

-43.8%

£67,698

-20.5%

£85,116

29.8%

£65,577

802.8%

£7,264

 

Capital & Reserves

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

(%)

31/05/09

Called Up Share Capital

£150

-

£150

-

£150

-

£150

-99.9%

£100,050

P & L Account Reserve

£97,478

-31.5%

£142,283

-4.4%

£148,781

62.7%

£91,455

433.4%

£17,147

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£97,628

-31.5%

£142,433

-4.4%

£148,931

62.6%

£91,605

-21.8%

£117,197

 

Other Financial Items

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

(%)

31/05/09

Net Worth

£97,628

-31.5%

£142,433

-4.4%

£148,931

62.6%

£91,605

-21.8%

£117,197

Working Capital

-£24,065

-171%

£33,883

-27.8%

£46,946

625%

-£8,942

76.7%

-£38,433

Total Assets

£1,327,451

11.3%

£1,192,219

-9.3%

£1,314,868

44.7%

£908,477

-17.8%

£1,105,064

Total Liabilities

£1,229,823

17.1%

£1,049,786

-10%

£1,165,937

42.7%

£816,872

-17.3%

£987,867

Net Assets

£97,628

-31.5%

£142,433

-4.4%

£148,931

62.6%

£91,605

-21.8%

£117,197

 

Cash Flow

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

(%)

31/05/09

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

Miscellaneous

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

(%)

31/05/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£135,661

-35.4%

£210,131

-10.2%

£234,047

48.9%

£157,182

26.3%

£124,461

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

 

Auditor Comments

The company is exempt from audit

Bankers

 

Bank Branch Code

 

 

Ratios

Date Of Accounts

31/05/13

31/05/12

31/05/11

31/05/10

31/05/09

Pre-tax profit margin %

-

-

-

-

-

Current ratio

0.98

1.03

1.04

0.99

0.96

Sales/Net Working Capital

-

-

-

-

-

Gearing %

39

47.50

57.20

71.60

6.20

Equity in %

7.40

11.90

11.30

10.10

10.60

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.73

0.76

0.74

0.66

0.60

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

12.20

6.89

7.25

8.20

8.36

Total Debt Ratio

12.59

7.37

7.82

8.91

8.42

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

 

ADDITIONAL INFORMATION

 

Status History

No Status History found.

 

Event History

Date

Description

19/03/2014

Annual Returns

18/03/2014

Change of Company Postcode

19/11/2013

New Accounts Filed

20/03/2013

Annual Returns

26/02/2013

New Accounts Filed

02/10/2012

Change in Reg.Office

02/10/2012

Change of Company Postcode

18/04/2012

Annual Returns

31/08/2011

New Accounts Filed

12/03/2011

Annual Returns

25/02/2011

New Accounts Filed

25/02/2011

New Accounts Filed

18/05/2010

Annual Returns

18/12/2009

New Accounts Filed

16/12/2009

Change in Reg.Office

 

Previous Company Names

No Previous Names found

 

 

NOTES & COMMENTS

 

Commentary

No exact match CCJs are recorded against the company.

 

The company's credit rating has increased from 51 to 65 which indicates good creditworthiness.

 

The credit limit on this company has fallen 50% in comparison to the previously suggested credit limit.

 

There is insufficient data to indicate a change in this company's percentage of sales.

 

Net Worth decreased by 31.5% during the latest trading period.

 

 

A 11.3% growth 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 an increase in their Cash Balance of 61.4% during the latest trading period.

 

The company is exempt from audit.

 

No recent changes in directorship are recorded.

 

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 has changed its registered address recently.

 

The company was established over 20 years ago.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.34

UK Pound

1

Rs.103.44

Euro

1

Rs.81.96

                

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

SDA

               

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.