MIRA INFORM REPORT

 

 

Report Date :

09.12.2014

 

IDENTIFICATION DETAILS

 

Name :

CLARKE STEELS LIMITED

 

 

Registered Office :

Tudor House, 37A Birmingham New Road, Wolverhampton, WV4 6BL

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.06.2013

 

 

Date of Incorporation :

02.06.2008

 

 

Com. Reg. No.:

06607571

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Other business support service activities

 

[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 :

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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

Company identification

 

CLARKE STEELS LIMITED

Telephone       -

TUDOR HOUSE

Fax                  -

37A BIRMINGHAM NEW ROAD

Website           -

WOLVERHAMPTON

 

WV4 6BL

 

United Kingdom

 

 

Company Number:

06607571

Status:

Active - Accounts Filed

Foundation:

02/06/2008

 

 

 

 

Comments  

 

No exact match CCJs are recorded against the company. The company's credit rating has increased from 49 to 54 which indicates good creditworthiness. The credit limit on this company has risen 30% in comparison to the previously suggested credit limit. Net Worth increased by 17.8% during the latest trading period. The company saw an increase in their Cash Balance of 147.1% during the latest trading period. The movement in accumulated earnings would indicate that the company made a profit after tax and other appropriations, including dividends. A 3% decline in Total Assets occurred during the latest trading period.

There is insufficient data to indicate a change in this company's percentage of sales. There is insufficient data to indicate a change in this company's pre-tax profit. The company is exempt from audit. No recent changes in directorship are recorded. The company is not part of a group. The company was established over 6 years ago.

 

 

Basic information

 

Legal form

Private limited with Share Capital

 

Foundation

02/06/2008

 

Company No.

06607571

 

Shareholders

 

Name

Currency

Number of shares

Share type

Nominal value

CHRISTINE ANN CLARKE

GBP

50

ORDINARY

1

CLIVE WILLIAM CLARKE

GBP

50

ORDINARY

1

Total Share Capital

GBP 100

 

 

 

Management

 

Directors

Name

Address:

Date of birth

Nationality

Appointment date

MrClive William Clarke

No 3, Brindley Close, Penkridge, Staffordshire ST19 5HX

19/07/1959

British

10/06/2008

 

Company Secretary

Name

Address:

Appointment date

Ms Christine Ann Clarke

3 Brindley Close, Penkridge, Stafford, Staffordshire

ST19 5HX

17/06/2008

 

Other Known Addresses

 

Tudor House, 37A Birmingham New Road, Wolverhampton, West Midlands WV4 6BL

 

 

Business activities

 

Main activity

SIC03

Other business activities

SIC07

Other business support service activities n.e.c.

 

 

Economic data

 

Turnover and Employees

 

Date of Accounts

Turnover

Employees

30/06/2011

Not Stated

Not Stated

30/06/2012

Not Stated

Not Stated

30/06/2013

Not Stated

Not Stated

 

 

Supplementary data

 

Events

 

Company history

Date

Action

19/06/2010

Annual Returns

08/12/2010

New Accounts Filed

10/06/2011

Annual Returns

09/01/2012

New Accounts Filed

14/06/2012

Annual Returns

18/01/2013

New Accounts Filed

22/06/2013

Annual Returns

14/03/2014

New Accounts Filed

10/06/2014

Annual Returns

10/06/2014

Annual Returns

 

Mortgages

Charge created

21/07/2008

Charge registered

25/07/2008

Status

OUTSTANDING

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

THE CHARGE CREATES A FIXED CHARGE OVER ALL THE DEPOSIT(S) REFERRED TO IN THE SCHEDULE TO THE FORM 395 (INCLUDING ALL ORANY PART OF THE

MONEY PAYABLE PURSUANT TO SUCH DEPOSIT(S) AND THE DEBTS REPRE­SENTED THEREBY) TOGETHER WITH ALL INTEREST FROM TIME TO TIME AC­CRUING THEREON. IT ALSO CREATES AN ASSIGNMENT BY THE CHARGOR FOR THE PURPOSES OF AND TO GIVE EFFECT TO THE SECURITY OVER THE RIGHT OF THE CHARGOR TO REQUIRE REPAYMENT OF SUCH DEPOSIT(S) AND INTER­EST THEREON BUSINESS PREMIUM ACCOUNT ACCOUNT NUMBER 23784843

Charge created

22/07/2008

Charge registered

30/07/2008

Status

OUTSTANDING

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY

AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UN­CALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT AND MACHINERY

 

County Court Judgments (CCJs)

There are no County Court Judgments listed against this company

 

 

Accounts

 

Profit & Loss

 

 

30/06/2013

52

GBP

Group: No

30/06/2012

52

GBP

Group: No

30/06/2011

52

GBP

Group: No

30/06/2010

52

GBP

Group: No

Turnover

0

0

0

0

Export

-

-

-

-

Cost of Sales

-

-

-

-

Gross Profit

-

-

-

-

Wages And Salaries

0

0

0

0

Directors Emoluments

-

-

-

-

Operating Profit

-

-

-

-

Depreciation

5,745

1,208

919

528

Audit Fees

0

0

0

0

Interests Payments

-

-

-

-

Pre Tax Profit

0

0

0

0

Taxation

-

-

-

-

Profit After Tax

-

-

-

-

Dividends Payable

-

-

-

-

Retained Profit

-

-

-

-

 

Balance Sheet

 

 

30/06/2013

52

GBP

Group: No

30/06/2012

52

GBP

Group: No

30/06/2011

52

GBP

Group: No

30/06/2010

52

GBP

Group: No

Tangible Assets

28,591

19,352

2,560

1,127

Intangible Assets

0

0

0

0

Total Fixed Assets

28,591

19,352

2,560

1,127

Stock

165,462

87,242

83,269

74,200

Trade Debtors

357,722

489,944

596,977

450,408

Cash

44,118

17,857

15,856

0

Other Debtors

0

0

0

0

Miscellaneous Current Assets

0

0

0

0

Total Current Assets

567,302

595,043

696,102

524,608

Trade Creditors

253,754

323,082

476,300

408,860

Bank Loans and Overdraft

0

0

0

0

Other Short Term Finance

9,754

6,032

0

0

Miscellaneous Current Liabilities

0

0

0

0

Total Current Liabilities

263,508

329,114

476,300

408,860

Bank Loans and Overdrafts LTL

13,123

14,244

0

0

Other Long Term Finance

13,123

14,244

0

0

Total Long Term Liabilities

13,123

14,244

0

0

 

Capital & Reserves

 

 

30/06/2013

52

GBP

Group: No

30/06/2012

52

GBP

Group: No

30/06/2011

52

GBP

Group: No

30/06/2010

52

GBP

Group: No

Called Up Share Capital

100

100

100

100

P and L Account Reserve

319,162

270,937

222,262

116,775

Revaluation Reserve

0

0

0

0

Sundry Reserves

0

0

0

0

Shareholders Funds

319,262

271,037

222,362

116,875

 

Other Financial Items

 

 

30/06/2013

52

GBP

Group: No

30/06/2012

52

GBP

Group: No

30/06/2011

52

GBP

Group: No

30/06/2010

52

GBP

Group: No

Net Worth

319,262

271,037

222,362

116,875

Working Capital

303,794

265,929

219,802

115,748

Total Assets

595,893

614,395

698,662

525,735

Total Liabilities

276,631

343,358

476,300

408,860

Net Assets

319,262

271,037

222,362

116,875

 

Cash Flow

 

 

30/06/2013

30/06/2012

30/06/2011

30/06/2010

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: No

Group: No

Group: No

Group: No

Net Cash Flow from Operations

0

0

0

0

Net Cash Flow before Financing

0

0

0

0

Net Cash Flow from Financing

0

0

0

0

Increase in Cash

26,261

2,001

15,856

-28

 

Miscellaneous

 

 

30/06/2013

52

GBP

Group: No

30/06/2012

52

GBP

Group: No

30/06/2011

52

GBP

Group: No

30/06/2010

52

GBP

Group: No

Capital Employed

332,385

285,281

222,362

116,875

 

Financial Ratios

 

Name

30/06/2013

30/06/2012

30/06/2011

30/06/2010

Pre Tax Profit Margin

0.0%

0.0%

0.0%

0.0%

Current Ration

2.15

1.81

1.46

1.28

Sales or Net Working Capital

0.00

0.00

0.00

0.00

Gearing

4.11 %

5.26 %

0.00 %

0.00 %

Equity

53.58 %

44.11 %

31.83 %

22.23 %

Creditor Days

0.00

0.00

0.00

0.00

Debtor Days

0.00

0.00

0.00

0.00

Liquidity or Acid test

1.52

1.54

1.28

1.10

Return on Capital Employed

0.0%

0.0%

0.0%

0.0%

Return on Total Assets Employed

0.0%

0.0%

0.0%

0.0%

Current Debt Ratio

0.82 %

1.21 %

2.14%

3.49 %

Total Debt Ratio

0.86 %

1.26 %

2.14%

3.49 %

Stock Turnover Ratio

0.0%

0.0%

0.0%

0.0%

Return on Net Assets Employed

0.0%

0.0%

0.0%

0.0%

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.93

UK Pound

1

Rs.96.37

Euro

1

Rs.76.10                                  

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SMN

 

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.