MIRA INFORM REPORT

 

 

Report Date :

11.12.2014

 

IDENTIFICATION DETAILS

 

Name :

METPRO LIMITED

 

 

Registered Office :

Unit 7 Cmt Trading Estate, Broadwell Road, Oldbury, West Midlands, B69 4bq

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

28.08.1993

 

 

Com. Reg. No.:

02849037

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Engaged in Sale & Distribution of Cable Management Products to the M&E Wholesaling Market.

 

Subject product ranges includes:-

·         Malleable Conduit Boxes

·         Conduit Fittings And Accessories

·         Brass Conduit Accessories

·         PVC Conduit Boxes

·         PVC Conduit Fittings And Accessories

·         Adaptable Boxes And Switch And Socket Boxes

(Adaptable Boxes Flush Back And Extension Boxes

     Terminal Blocks And  Earthing Products)

·         Fixings

(Nuts, Bolts, Screws, Washers, Plugs And Fixings)

·         Channel Nuts

·         Channel Support Fittings And Accessories

(Flat And Angled Brackets Brackets, Z And U Profile     

      Brackets Base Plates, Clamps And Connectors Channel     

       Support Fixings)

·         Support Brackets

(Stand Off Brackets Tray And Trunking Hangers    

      Cantilever Arms)

 

 

No of Employees :

Not Available

 

[We tried to confirm the number of employees but no one is ready to part any information from the company management.]

 

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 – 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

                       

METPRO LIMITED

Telephone

+44 012 1552 2100

 

UNIT 7 CMT TRADING ESTATE

Fax

-

 

BROADWELL ROAD

Website

www.metpro.co.uk

 

OLDBURY

 

 

WEST MIDLANDS

 

 

 

B69 4BQ

 

 

 

United Kingdom

 

 

 

 

 

 

 

Company Number:

02849037

Status:

Active - Accounts Filed

Foundation:

28/08/1993

 

 

 

 

Comments  

 

No exact match CCJs are recorded against the company. Net Worth increased by 10.3% during the latest trading period.

 

A 35.2% growth in Total Assets occurred 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.

 

The company saw a decrease in their Cash Balance of 70.3% 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 direc-torship are recorded. The company is not part of a group. The company was established over 21 years ago.

 

 

Basic information

 

Legal form

Private limited with Share Capital

 

Foundation

28/08/1993

 

Company No.

02849037

 

 

 

Shareholders

                                   

Name

Currency

Number of shares

Share type

Nominal value

DAVID NAYLOR

GBP

5

ORDINARY

1

MR ARTHUR WILLIAM RUDGE

GBP

75

ORDINARY

1

Total Share Capital

GBP 80

 

 

Management

                       

Directors

Name

Address:

Date of birth

Nationality

Appointment date

Mr David Naylor

Unit 7 Cmt Trading Estate, Broadwell Road, Oldbury, West Midlands B69 4BQ

02/04/1972

British

28/04/2009

Mr Arthur William Rudge

Unit 7 Cmt Trading Estate, Broadwell Road, Oldbury, West Midlands B69 4BQ

18/10/1964

British

16/09/1993

 

Secretary

 

No Secretary appointed

 

 

Other Known Addresses

 

Unit 7, C M T Industrial Estate, Broadwell Road, Oldbury, West Midlands B69 4BQ

 

 

Business activities  

 

Main activity

Engaged in Sale & Distribution of Cable Management Products to the M&E Wholesaling Market.

 

Subject product ranges includes:-

·         Malleable Conduit Boxes

·         Conduit Fittings And Accessories

·         Brass Conduit Accessories

·         PVC Conduit Boxes

·         PVC Conduit Fittings And Accessories

·         Adaptable Boxes And Switch And Socket Boxes

       (Adaptable Boxes Flush Back And Extension Boxes Terminal Blocks and Earthing Products)

·         Fixings

(Nuts, Bolts, Screws, Washers, Plugs And Fixings)

·         Channel Nuts

·         Channel Support Fittings And Accessories

(Flat And Angled Brackets Brackets, Z And U Profile Brackets Base Plates, Clamps And Connectors Channel    

       Support Fixings)

·         Support Brackets

(Stand Off Brackets Tray And Trunking Hanger Cantilever Arms)

 

 

Supplementary data

 

Banks

 

Bank Name

 

TRUSTEE SAVINGS BANK

 

 

Auditor

 

Auditor name

 

WILKES TRANTER & CO LIMITED

 

 

 

Events

 

Company history

Date

Action

22/03/2010

Change in Reg.Office

02/08/2010

New Accounts Filed

15/09/2010

Annual Returns

09/09/2011

Annual Returns

03/10/2011

New Accounts Filed

21/06/2012

New Accounts Filed

21/06/2012

New Accounts Filed

12/09/2012

Annual Returns

13/08/2013

New Accounts Filed

03/09/2013

Annual Returns

07/09/2014

Annual Returns

27/09/2014

New Accounts Filed

 

 

Mortgages

 

Charge created

16/02/1998

Charge registered

27/02/1998

Status

SATISFIED

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 CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

 

Charge created

24/01/2000

Charge registered

01/02/2000

Status

SATISFIED

Entitled person

LLOYDS TSB 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 CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

 

Charge created

27/06/2002

Charge registered

08/07/2002

Status

SATISFIED

Entitled person

THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND

Secured amount

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

Mortgage detail

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

 

Charge created

19/11/2004

Charge registered

27/11/2004

Status

OUTSTANDING

Entitled person

THE ROYAL BANK OF SCOTLAND COMMERCIAL SERVICES LIMITED

Secured amount

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

Mortgage detail

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Charge created

29/11/2010

Charge registered

03/12/2010

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

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXEDPLANT AND MACHINERY

Charge created

13/08/2014

Charge registered

20/08/2014

Status

OUTSTANDING

Entitled person

RBS INVOICE FINANCE LIMITED;

Mortgage detail

CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

 

 

County Court Judgments (CCJs)

 

There are no County Court Judgments listed against this company

 

 

Accounts

 

Profit & Loss

 

 

 

 

 

31/12/2013

52

GBP

Group: No

31/12/2012 52

GBP Group: No

31/12/2011 52

GBP Group: No

31/12/2010 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

37,135

31,813

35,172

24,755

Audit Fees

0

0

7,500

0

Interests Payments

-

-

-

-

Pre Tax Profit

0

0

0

0

Taxation

-

-

-

-

Profit After Tax

-

-

-

-

Dividends Payable

-

-

-

-

Retained Profit

-

-

-

-

 

Balance Sheet

 

31/12/2013

52

GBP

Group: No

31/12/2012 52

GBP

Group: No

31/12/2011 52

GBP

Group: No

31/12/2010 52

GBP Group: No

 

Tangible Assets

395,490

67,010

106,388

141,065

 

Intangible Assets

0

0

0

0

 

Total Fixed Assets

395,490

67,010

106,388

141,065

 

Stock

1,269,390

903,208

857,627

736,582

 

Trade Debtors

1,977,258

1,681,557

1,446,749

1,413,371

 

Cash

16,207

54,578

59,840

46,759

 

Other Debtors

0

0

0

5,196

 

Miscellaneous Current Assets

0

0

0

0

 

Total Current Assets

3,262,855

2,639,343

2,364,216

2,201,908

 

Trade Creditors

2,468,572

1,871,036

1,657,648

1,564,613

 

Bank Loans and Overdraft

0

0

0

0

 

Other Short Term Finance

0

0

0

0

 

Miscellaneous Current Liabilities

0

0

0

0

 

Total Current Liabilities

2,468,572

1,871,036

1,657,648

1,564,613

 

Bank Loans and Overdrafts LTL

280,074

10,244

17,773

40,926

 

Other Long Term Finance

0

0

0

0

 

Total Long Term Liabilities

280,074

10,244

17,773

40,926

 

 

Capital & Reserves

 

 

 

 

 

 

 

 

 

 

 

 

31/12/2013

52

GBP

Group: No

31/12/2012 52

GBP

Group: No

31/12/2011 52

GBP

 Group: No

31/12/2010 52

 GBP Group: No

 

Called Up Share Capital

80

80

80

80

 

P and L Account Reserve

909,599

824,973

795,083

737,334

 

Revaluation Reserve

0

0

0

0

 

Sundry Reserves

20

20

20

20

 

Shareholders Funds

909,699

825,073

795,183

737,434

 

 

 

Other Financial Items

 

31/12/2013

52

 GBP

Group: No

31/12/2012 52

 GBP

Group: No

31/12/2011 52

GBP

Group: No

31/12/2010 52

GBP Group: No

Net Worth

909,699

825,073

795,183

737,434

Working Capital

794,283

768,307

706,568

637,295

Total Assets

3,658,345

2,706,353

2,470,604

2,342,973

Total Liabilities

2,748,646

1,881,280

1,675,421

1,605,539

Net Assets

909,699

825,073

795,183

737,434

 

Cash Flow

 

31/12/2013

31/12/2012

31/12/2011

31/12/2010

 

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

-38,371

-5,262

13,081

-12,920

 

Miscellaneous

 

31/12/2013

31/12/2012

31/12/2011

31/12/2010

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: No

Group: No

Group: No

Group: No

Capital Employed

1,189,773

835,317

812,956

778,360

 

Financial Ratios

 

 

 

 

 

Name

31/12/2013

31/12/2012

31/12/2011

31/12/2010

Pre Tax Profit Margin

0.0%

0.0%

0.0%

0.0%

Current Ration

1.32

1.41

1.43

1.41

Sales or Net Working Capital

0.00

0.00

0.00

0.00

Gearing

30.79 %

1.24 %

2.24 %

5.55 %

Equity

24.87 %

30.49 %

32.19%

31.47%

Creditor Days

0.00

0.00

0.00

0.00

Debtor Days

0.00

0.00

0.00

0.00

Liquidity or Acid test

0.80

0.92

0.90

0.93

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

2.71 %

2.26 %

2.08 %

2.12%

Total Debt Ratio

3.02 %

2.28 %

2.10%

2.17%

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.61.95

UK Pound

1

Rs.97.16

Euro

1

Rs.76.75

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

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.