MIRA INFORM REPORT

 

 

Report Date :

18.12.2014

 

IDENTIFICATION DETAILS

 

Name :

ROLLINS BULLDOG TOOLS LIMITED

 

 

Registered Office :

1 Parkway, Harlow Business Park Harlow Essex CM19 5QF

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

08.12.2003

 

 

Com. Reg. No.:

04987799

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Manufacture of solid forged gardening, agricultural and contractor's tools

 

 

No. of Employees :

50

 

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 name and address

 

ROLLINS BULLDOG TOOLS LIMITED

Telephone

+44 012 7940 1570

1 PARKWAY, HARLOW BUSINESS PARK

Fax

-

HARLOW

Website

www.bulldogtools.co.uk

ESSEX

 

 

CM19 5QF

 

 

United Kingdom

 

 

 

 

Company Number:

04987799

Status:

Active - Accounts Filed

Foundation:

08/12/2003

 

 

 

 

Comments

 

No exact match CCJs are recorded against the company. Net Worth increased by 2.6% during the latest trading period.

Pre-tax profits increased by 163.2% compared to the previous trading period. The audit report contains no adverse comments.

The company’s credit rating has dropped from 35 to 13 which puts the company in a discretionary Credit banding. The credit limit on this company has fallen 100% in comparison to the previously suggested credit limit. Sales in the latest trading period decreased 0.4% on the previous trading period. A 6.6% decline in Total Assets occurred during the latest trading period. The company saw a decrease in their Cash Balance of 72.8% during the latest trading period. The company has undergone recent changes in its directorships. The company is part of a group. The company was established over 10 years ago.

 

 

Basic information

 

Legal form

Private limited with Share Capital

 

Foundation

08/12/2003

 

Company No.

04987799

 

 

Shareholders

 

Name

Currency

Number of shares

Share type

Nominal value

ROLLINS SONS LONDON LTD

GBP

10,000

ORDINARY

1

Total Share Capital

GBP 10,000

 

 

Management

 

Directors

Name

Address:

Date of birth

Nationality

Appointment date

Mr Andrew James White

1 Parkway, Harlow Business Park, Harlow, Essex CM19 5QF

23/02/1949

British

08/12/2003

Mr Martin Graham Tompsett

1 Parkway, Harlow Business Park, Harlow, Essex CM19 5QF

25/09/1952

British

08/12/2003

Mr Roger Ronald Partridge

1 Parkway, Harlow Business Park, Harlow, Essex CM19 5QF

05/07/1960

British

08/12/2003

Mr Stuart Charles Elsom

1 Parkway, Harlow Business Park, Harlow, Essex CM19 5QF

17/08/1964

British

08/12/2003

Mr David Roland Woolard

Rollins House 1 Harlow Business Park, Harlow, Essex CM19 5QF

06/04/1965

British

01/04/2014

 

Company Secretary

 

Name

Address:

Appointment date

Mr David Ian Roland Woollard

1 Parkway, Harlow Business Park, Harlow, Essex

CM19 5QF

01/01/2009

 

 

Other Known Addresses

 

Rollins House, 1 Parkway, Harlow Business Park, Harlow, Essex CM19 5QF Rosebridge Lock Cottage, Canal Terrace, Wigan, Lancashire WN1 3DT

 

Company relationships

 

Company No. Ultimate parent

Name

Status

Country

00198889

ROLLINS & SONS (LONDON) LIMITED

Active

United Kingdom

Affiliated companies

00410018

C.O.TILNEY LIMITED

Non Trading

United Kingdom

Immediate parent

00198889

ROLLINS & SONS (LONDON) LIMITED

Active

United Kingdom

 

 

Business activities

 

Main activity

Principal Activity

Manufacture of solid forged gardening, agricultural and contractor's tools.

SIC03

Manufacture of tools

SIC07

Manufacture of tools

 

 

Economic data

 

Turnover and Employees

 

Date of Accounts

Turnover

Employees

31/12/2011

GBP 4,603,962

62

31/12/2012

GBP 3,811,700

55

31/12/2013

GBP 3,795,929

50

 

Banks

 

Bank Name

Bank Branch Sort Code

HSBC BANK PLC

40-04-12

 

 

Auditor

 

Auditor name

PRICE BAILEYLLP

 

 

Events

 

Company history

Date

Action

29/12/2009

Annual Returns

24/09/2010

New Accounts Filed

24/09/2010

New Accounts Filed

22/12/2010

Annual Returns

23/09/2011

New Accounts Filed

23/09/2011

New Accounts Filed

21/12/2011

Annual Returns

22/08/2012

New Accounts Filed

22/08/2012

New Accounts Filed

15/12/2012

Annual Returns

02/09/2013

New Accounts Filed

21/12/2013

Annual Returns

14/04/2014

New Board Member Mr D.R. Woolard appointed

14/07/2014

New Accounts Filed

15/10/2014

Mr M.J. Elsom has left the board

17/12/2014

Annual Returns

 

Mortgages

Charge created

17/11/2011

Charge registered

18/11/2011

Status

OUTSTANDING

Entitled person

HSBC 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

 

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

3,795,929

3,811,700

4,603,962

4,372,679

Export

-

-

-

-

Cost of Sales

2,827,583

3,149,260

3,521,071

3,260,319

Gross Profit

968,346

662,440

1,082,891

1,112,360

Wages And Salaries

1,091,972

1,031,394

1,210,273

1,163,173

Directors Emoluments

22,500

25,000

25,000

25,000

Operating Profit

76,488

-121,384

203,174

248,203

Depreciation

46,433

48,264

58,459

62,563

Audit Fees

10,050

10,050

10,050

10,050

Interests Payments

0

0

8

7

Pre Tax Profit

76,634

-121,279

203,408

248,531

Taxation

-16,632

27,051

-45,974

-57,456

Profit After Tax

60,002

-94,228

157,434

191,075

Dividends Payable

0

70,000

89,000

42,000

Retained Profit

60,002

-164,228

68,434

149,075

 

 

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

908,976

955,409

994,657

1,019,786

Intangible Assets

-106,826

-122,087

-139,528

-159,461

Total Fixed Assets

802,150

833,322

855,129

860,325

Stock

2,773,665

2,844,831

3,025,483

2,553,977

Trade Debtors

614,330

754,847

983,952

855,981

Cash

22,803

83,860

27,783

96,071

Other Debtors

63,488

61,646

39,506

47,729

Miscellaneous Current Assets

0

0

0

0

Total Current Assets

3,474,286

3,745,184

4,076,724

3,553,758

Trade Creditors

257,188

252,366

376,684

306,762

Bank Loans and Overdraft

0

0

0

0

Other Short Term Finance

2,127,181

2,475,260

2,440,809

2,075,155

Miscellaneous Current Liabilities

196,664

206,742

297,108

296,387

Total Current Liabilities

2,581,033

2,934,368

3,114,601

2,678,304

Bank Loans and Overdrafts LTL

35,077

43,814

52,700

39,661

Other Long Term Finance

0

0

0

0

Total Long Term Liabilities

35,077

43,814

52,700

39,661

 

 

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

10,000

10,000

10,000

10,000

P and L Account Reserve

1,650,326

1,590,324

1,754,552

1,686,118

Revaluation Reserve

0

0

0

0

Sundry Reserves

0

0

0

0

Shareholders Funds

1,660,326

1,600,324

1,764,552

1,696,118

 

 

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

1,767,152

1,722,411

1,904,080

1,855,579

Working Capital

893,253

810,816

962,123

875,454

 

 

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

Total Liabilities

2,616,110

2,978,182

3,167,301

2,717,965

Net Assets

1,660,326

1,600,324

1,764,552

1,696,118

 

 

Cash Flow

 

 

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 Cash Flow from Operations

286,876

117,622

-249,511

309,648

Net Cash Flow before Financing

287,022

21,626

-433,942

243,050

Net Cash Flow from Financing

-348,079

34,451

365,654

-252,027

Increase in Cash

-61,057

56,077

-68,288

-8,977

 

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

1,695,403

1,644,138

1,817,252

1,735,779

 

 

Financial Ratios

 

Name

31/12/2013

31/12/2012

31/12/2011

31/12/2010

Pre Tax Profit Margin

2.02 %

-3.18%

4.42 %

5.68 %

Current Ration

1.35

1.28

1.31

1.33

Sales or Net Working Capital

4.25

4.70

4.79

4.99

Gearing

2.11 %

2.74 %

2.99 %

2.34 %

Equity

37.88 %

34.05 %

34.79 %

37.09 %

Creditor Days

24.66

24.09

29.78

25.53

Debtor Days

58.90

72.08

77.79

71.25

Liquidity or Acid test

0.27

0.30

0.33

0.37

Return on Capital Employed

4.52 %

-7.37 %

11.19%

14.31 %

Return on Total Assets Employed

1.79 %

-2.64 %

4.12%

5.63 %

Current Debt Ratio

1.55 %

1.83 %

1.76 %

1.57%

Total Debt Ratio

1.57 %

1.86 %

1.79 %

1.60%

Stock Turnover Ratio

73.06 %

74.63 %

65.71 %

58.40 %

Return on Net Assets Employed

4.61 %

-7.57 %

11.52 %

14.65%

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.58

UK Pound

1

Rs.99.98

Euro

1

Rs.79.39

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NIS

 

               

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.