|
Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SMITH BATESON HOLDINGS LIMITED |
|
|
|
|
Registered Office : |
Stronghold House Kitling Road, Knowsley Business Park,
Prescot, Merseyside, L34 9hq |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
30.07.2008 |
|
|
|
|
Com. Reg. No.: |
06659907 |
|
|
|
|
Legal Form : |
Private Limited With Share Capital |
|
|
|
|
Line of Business : |
·
A
group engaged as a holding company and its subsidiary is the merchanting of
paper and polythene. ·
Wholesale
other intermediate goods ·
Wholesale
of other intermediate products |
|
|
|
|
No of Employees : |
49 [2014] |
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 – 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 |
|
SMITH BATESON HOLDINGS LIMITED |
|
Stronghold House Kitling Road |
|
Knowsley Business Park |
|
Prescot |
|
Merseyside |
|
L34 9hq |
|
United Kingdom |
|
Telephone |
+44 015 1547 1801 |
|
Fax |
- |
|
Website |
|
Company Number: |
06659907 |
Status: |
Active - Accounts Filed |
|
Foundation: |
30/07/2008 |
|
|
|
Payment experience and credit opinion |
No exact match CCJs
are recorded against the company. Net Worth increased by 22.4% during the
latest trading period. A 8.4% growth in Total Assets occurred during the latest
trading period. Pre-tax profits increased by 1.8% compared to the previous
trading period. The audit report contains no adverse comments.
The company's credit
rating has dropped from 63 to 47 but the company is still indicating it is
creditworthy. Sales in the latest trading period decreased 1.3% on the previous
trading period. The company saw a decrease in their Cash Balance of 87.8%
during the latest trading period.
No recent changes in
directorship are recorded. The company is part of a group. The company was
established over 6 years ago.
Legal form
Private
limited with Share Capital
Foundation
30/07/2008
Company No.
06659907
Shareholders
|
Name |
Currency |
Number of shares |
Share type |
Nominal value |
|
STEPHEN MCKUHEN |
GBP |
20,000 |
ORDINARY |
1 |
|
Total Share Capital |
GBP 20,000 |
|||
Management
|
Directors |
||||
|
Name |
Address: |
Date of birth |
Nationality |
Appointment
date |
|
Mr. Stephen Vincent
McKuhen |
Charnwood 17
Swanpool Lane, Aughton, Ormskirk, Lancashire L39 5AX |
15/04/1961 |
|
30/07/2008 |
Secretary
No
Secretary appointed
Other Known Addresses
Stronghold
House, Kitling Road, Knowsley Business Park, Prescot, Merseyside L34 9HQ
Business Activities
|
Main activity |
|
|
Principal Activity |
A group engaged as a
holding company and its subsidiary is the merchanting of paper and polythene. |
|
SIC03 |
Wholesale other
intermediate goods |
|
SIC07 |
Wholesale of other
intermediate products |
Economic data
Turnover and Employees
|
Date of Accounts |
Turnover |
Employees |
|
31/03/2012 |
GBP
28,093,929 |
51 |
|
31/03/2013 |
GBP
27,722,644 |
50 |
|
31/03/2014 |
GBP
28,429,416 |
49 |
Supplementary data
Banks
Bank
Name Bank
Branch Sort Code
NATIONAL
WESTMINSTER BANK PLC 60-13-19
Auditor
Auditor
name
BAKER
TILLY UK AUDIT LLP
Events
|
Company history |
|||
|
Date |
Action |
|
|
|
09/08/2010 |
New
Accounts Filed |
|
|
|
09/08/2010 |
New
Accounts Filed |
|
|
|
30/08/2010 |
Annual
Returns |
|
|
|
13/06/2011 |
New
Accounts Filed |
|
|
|
13/06/2011 |
New
Accounts Filed |
|
|
|
05/08/2011 |
Annual
Returns |
|
|
|
06/08/2012 |
Annual
Returns |
|
|
|
11/08/2012 |
New
Accounts Filed |
|
|
|
11/08/2012 |
New
Accounts Filed |
|
|
|
12/08/2013 |
Annual
Returns |
|
|
|
12/08/2013 |
New
Accounts Filed |
|
|
|
12/08/2013 |
New
Accounts Filed |
|
|
|
04/08/2014 |
Annual
Returns |
|
|
|
07/10/2014 |
New
Accounts Filed |
|
|
|
07/10/2014 |
New
Accounts Filed |
|
|
|
Mortgages |
|
|
Charge created |
16/12/2008 |
|
Charge registered |
18/12/2008 |
|
Status |
OUTSTANDING |
|
Entitled person |
NATIONAL
WESTMINSTER BANK PLC |
|
Secured amount |
ALL MONIES DUE OR
TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Mortgage detail |
LAND ON THE SOUTH SIDE
OF KITLING ROAD KNOWSLEY INDUSTRIAL PARK KNOWSLEY T/N
MS434041 BY WAY OF FIXED CHARGE, THE BENEFIT OF ALL COVENANTS AND RIGHTS
CONCERNING THE PROPERTY AND ALL PLANT MACHINERY, FIXTURES, FITTINGS,
FURNITURE, EQUIPMENT, IMPLEMENTS AND UTENSILS. THE GOODWILL OF ANYBUSINESS
CARRIED ON AT THE PROPERTY AND THE PROCEEDS OF ANY INSURANCE AFFECTING THE
PROPERTY OR ASSETS |
County
Court Judgments (CCJs)
There
are no County Court Judgments listed against this company
Profit & Loss
|
|
31/03/2014 52 GBP Group: Yes |
31/03/2013 52 GBP Group: Yes |
31/03/2012 52 GBP Group: Yes |
31/03/2011 52 GBP Group: Yes |
|
Turnover |
28,429,416 |
27,722,644 |
28,093,929 |
26,851,390 |
|
Export |
0 |
0 |
0 |
- |
|
Cost
of Sales |
23,641,323 |
23,191,455 |
23,059,695 |
22,187,001 |
|
|
31/03/2014 52 GBP
Group: Yes |
31/03/2013 52 GBP
Group: Yes |
31/03/2012 52 GBP
Group: Yes |
31/03/2011 52 GBP
Group: Yes |
|
Gross Profit |
4,788,093 |
4,531,189 |
5,034,234 |
4,664,389 |
|
Wages And Salaries |
1,962,151 |
1,638,050 |
1,997,154 |
1,669,068 |
|
Directors Emoluments |
204,147 |
203,617 |
249,365 |
209,253 |
|
Operating
Profit |
1,069,988 |
1,161,380 |
1,184,834 |
1,287,777 |
|
Depreciation |
171,306 |
178,448 |
176,268 |
171,121 |
|
Audit Fees |
17,500 |
17,050 |
4,850 |
4,500 |
|
Interests Payments |
52,984 |
54,261 |
97,043 |
94,844 |
|
Pre
Tax Profit |
1,017,253 |
1,107,119 |
1,087,934 |
1,192,944 |
|
Taxation |
-240,826 |
-281,250 |
-282,704 |
-340,237 |
|
Profit After Tax |
776,427 |
825,869 |
805,230 |
852,707 |
|
Dividends Payable |
250,000 |
0 |
0 |
1,000,000 |
|
Retained
Profit |
526,427 |
825,869 |
805,230 |
-147,293 |
Balance sheet
|
|
31/03/2014 52 GBP
Group: Yes |
31/03/2013 52 GBP Group: Yes |
31/03/2012 52 GBP
Group: Yes |
31/03/2011 52 GBP
Group: Yes |
|
Tangible Assets |
2,260,911 |
2,387,369 |
2,530,149 |
2,512,330 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
|
Total
Fixed Assets |
2,260,911 |
2,387,369 |
2,530,149 |
2,512,330 |
|
Stock |
3,843,519 |
3,582,068 |
3,065,091 |
3,480,878 |
|
Trade Debtors |
3,733,594 |
4,488,333 |
3,952,173 |
3,733,023 |
|
Cash |
422,856 |
11,466 |
93,939 |
281,366 |
|
Other Debtors |
3,437 |
3,437 |
24,197 |
5,476 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total
Current Assets |
8,003,406 |
8,085,304 |
7,135,400 |
7,500,743 |
|
Trade Creditors |
3,336,745 |
3,224,456 |
2,320,051 |
2,356,361 |
|
Bank Loans and Overdraft |
417,809 |
667,597 |
878,119 |
1,680,989 |
|
Other Short Term Finance |
28,776 |
104,717 |
423,344 |
527,342 |
|
Miscellaneous Current Liabilities |
1,124,526 |
972,013 |
997,711 |
944,837 |
|
Total
Current Liabilities |
4,907,856 |
4,968,783 |
4,619,225 |
5,509,529 |
|
Bank Loans and Overdrafts LTL |
737,218 |
1,660,862 |
2,239,687 |
3,305,007 |
|
Other Long Term Finance |
0 |
39,607 |
95,270 |
63,926 |
|
Total
Long Term Liabilities |
319,409 |
993,265 |
1,361,568 |
1,624,018 |
Capital Reserves
|
|
31/03/2014 52 GBP
Group: Yes |
31/03/2013 52 GBP
Group: Yes |
31/03/2012 52 GBP
Group: Yes |
31/03/2011 52 GBP
Group: Yes |
|
Called Up Share Capital |
20,000 |
20,000 |
20,000 |
20,000 |
|
P and L Account Reserve |
4,987,052 |
4,460,625 |
3,634,756 |
2,829,526 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
30,000 |
30,000 |
30,000 |
30,000 |
|
Shareholders Funds |
5,037,052 |
4,510,625 |
3,684,756 |
2,879,526 |
Other Financial
Items
|
|
31/03/2014 52 GBP
Group: Yes |
31/03/2013 52 GBP
Group: Yes |
31/03/2012 52 GBP
Group: Yes |
31/03/2011 52 GBP
Group: Yes |
|
Net Worth |
5,037,052 |
4,510,625 |
3,684,756 |
2,879,526 |
|
Working Capital |
3,095,550 |
3,116,521 |
2,516,175 |
1,991,214 |
|
Total Assets |
10,264,317 |
10,472,673 |
9,665,549 |
10,013,073 |
|
Total
Liabilities |
5,227,265 |
5,962,048 |
5,980,793 |
7,133,547 |
|
Net Assets |
5,037,052 |
4,510,625 |
3,684,756 |
2,879,526 |
Cash Flow
|
|
31/03/2014 52 GBP
Group: Yes |
31/03/2013 52 GBP
Group: Yes |
31/03/2012 52 GBP
Group: Yes |
31/03/2011 52 GBP
Group: Yes |
|
Net Cash Flow from Operations |
2,004,878 |
891,409 |
1,483,921 |
668,332 |
|
Net Cash Flow before Financing |
1,347,969 |
487,693 |
1,046,152 |
-733,440 |
|
Net Cash Flow from Financing |
-681,773 |
-354,737 |
-425,372 |
-337,902 |
|
Increase in Cash |
411,390 |
-82,473 |
-187,427 |
-207,473 |
Miscellaneous
|
|
31/03/2014 52 GBP
Group: Yes |
31/03/2013 52 GBP
Group: Yes |
31/03/2012 52 GBP
Group: Yes |
31/03/2011 52 GBP
Group: Yes |
|
Capital Employed |
5,356,461 |
5,503,890 |
5,046,324 |
4,503,544 |
Financial Ratio
|
Name |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Pre
Tax Profit Margin |
3.58 % |
3.99 % |
3.87 % |
4.44 % |
|
Current
Ration |
1.63 |
1.63 |
1.54 |
1.36 |
|
Sales
or Net Working Capital |
9.18 |
8.90 |
11.17 |
13.48 |
|
Gearing |
14.64% |
36.82 % |
60.78 % |
114.78% |
|
Equity |
49.07 % |
43.07 % |
38.12% |
28.76 % |
|
Creditor
Days |
42.72 |
42.33 |
30.05 |
31.94 |
|
Debtor
Days |
47.80 |
58.93 |
51.20 |
50.60 |
|
Liquidity
or Acid test |
0.84 |
0.90 |
0.88 |
0.72 |
|
Return
on Capital Employed |
18.99 % |
20.11 % |
21.55 % |
26.48 % |
|
Return
on Total Assets Employed |
9.91 % |
10.57 % |
11.25 % |
11.91 % |
|
Current
Debt Ratio |
0.97 % |
1.10% |
1.25 % |
1.91 % |
|
Total
Debt Ratio |
1.03 % |
1.32 % |
1.62 % |
2.47 % |
|
Stock
Turnover Ratio |
13.51 % |
12.92 % |
10.91 % |
12.96% |
|
Return
on Net Assets Employed |
20.19% |
24.54 % |
29.52 % |
41.42% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
|
1 |
Rs.97.69 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.