MIRA INFORM REPORT

 

 

Report Date :

19.12.2014

 

IDENTIFICATION DETAILS

 

Name :

L W J ENGINEERING LTD

 

 

Registered Office :

Coles Lane Farm Workshop Cherry Orchard Shaftesbury Dorset SP7 0PY

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

19.02.2009

 

 

Com. Reg. No.:

06824116

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :
  • Manufacture other agric. & forestry machines
  • Manufacture of agricultural and forestry machinery other than tractors

 

 

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

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

 

L W J ENGINEERING LTD

Telephone -

COLES LANE FARM WORKSHOP

Fax -

CHERRY ORCHARD

Website -

SHAFTESBURY

 

DORSET

 

SP7 0PY

 

United Kingdom

 

 

Company Number:

06824116

Status:

Active - Accounts Filed

Foundation:

19/02/2009

 

 

 

 

Comments

 

No exact match CCJs are recorded against the company. Net Worth increased by 6.2% during the latest trading period. The company's credit rating has dropped from 41 to 35 but the company is still indicating it is creditworthy. A 52% decline in Total Assets occurred during the latest trading period. The company saw a decrease in their Cash Balance of 50.7% during the latest trading period. The movement in accumulated earnings would indicate that the company incurred a loss after tax and other appropriations, including dividends.

There has been no significant change in the company's credit limit. 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 5 years ago

 

 

Basic information

 

Legal form

Private limited with Share Capital

 

Foundation

19/02/2009

 

Company No.

06824116

 

 

Shareholders

 

Name

Currency

Number of shares

Share type

Nominal value

JONATHAN FRANCIS WEBBER

GBP

50

ORDINARY

1

LYNNE MARGARET WEBBER

GBP

50

ORDINARY

1

Total Share Capital

GBP 100

 

 

Management

 

Directors

Name

Address:

Date of birth

Nationality

Appointment date

Mr Jonathan Francis Webber

4 Victoria Road, Gillingham, Dorset SP8 4HY

14/09/1959

British

19/02/2009

Ms Lynne Margaret Webber

4 Victoria Road, Gillingham, Dorset

SP8 4HY

30/03/1962

British

19/02/2009

 

 

Company Secretary

 

Name

Address:

Appointment date

Ms Lynne Margaret Webber

4 Victoria Road, Gillingham, Dorset SP8 4HY

19/02/2009

 

 

Other Known Addresses

 

Coles Lane Farm Workshop, Cherry Orchard, Shaftesbury, Dorset SP7 0PY

 

 

Business activities

 

Main activity

SIC03

Manufacture other agric. & forestry machines

SIC07

Manufacture of agricultural and forestry machinery other than tractors

 

 

Economic data

 

Turnover and Employees

 

Date of Accounts

Turnover

Employees

31/12/2011

Not Stated

Not Stated

31/12/2012

Not Stated

Not Stated

31/12/2013

Not Stated

Not Stated

 

 

 

Supplementary data

 

Events

Company history

Date

Action

01/03/2010

Annual Returns

16/09/2010

New Accounts Filed

12/03/2011

Annual Returns

28/03/2011

New Accounts Filed

09/03/2012

Annual Returns

04/05/2012

New Accounts Filed

04/03/2013

Annual Returns

07/09/2013

New Accounts Filed

24/02/2014

Annual Returns

05/09/2014

New Accounts Filed

 

 

Mortgages

Charge created

16/06/2009

Charge registered

18/06/2009

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

0

0

0

0

Export

-

-

-

-

Cost of Sales

-

-

-

-

Gross Profit

-

-

-

-

Wages And Salaries

0

0

0

0

Directors Emoluments

-

-

-

-

Operating Profit

-

-

-

-

Depreciation

2,749

2,906

1,718

2,163

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

 

 

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

17,596

18,241

6,845

8,563

Intangible Assets

12,500

20,000

27,500

35,000

Total Fixed Assets

30,096

38,241

34,345

43,563

Stock

7,373

45,057

48,587

30,291

Trade Debtors

11,744

19,287

20,326

6,645

Cash

36

73

113

9,190

Other Debtors

0

0

0

0

Miscellaneous Current Assets

0

0

0

0

Total Current Assets

19,153

64,417

69,026

46,126

Trade Creditors

43,393

89,481

95,766

75,961

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

43,393

89,481

95,766

75,961

Bank Loans and Overdrafts LTL

1,931

2,321

1,386

1,798

Other Long Term Finance

0

0

0

0

Total Long Term Liabilities

1,931

2,321

1,386

1,798

 

 

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

2

2

2

2

P and L Account Reserve

3,923

10,854

6,217

11,928

Revaluation Reserve

0

0

0

0

Sundry Reserves

0

0

0

0

Shareholders Funds

3,925

10,856

6,219

11,930

 

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

-8,575

-9,144

-21,281

-23,070

Working Capital

-24,240

-25,064

-26,740

-29,835

 

 

 

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

45,324

91,802

97,152

77,759

Net Assets

3,925

10,856

6,219

11,930

 

 

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

-37

-40

-9,077

6,615

 

 

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

5,856

13,177

7,605

13,728

 

 

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

0.44

0.72

0.72

0.61

Sales or Net Working Capital

0.00

0.00

0.00

0.00

Gearing

49.20 %

21.38%

22.29 %

15.07%

Equity

10.68 %

13.13%

8.20 %

21.81 %

Creditor Days

0.00

0.00

0.00

0.00

Debtor Days

0.00

0.00

0.00

0.00

Liquidity or Acid test

0.27

0.21

0.21

0.20

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

11.05 %

8.24 %

15.39%

6.36 %

Total Debt Ratio

11.54 %

8.45 %

15.62%

6.51 %

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.63.32

UK Pound

1

Rs.98.68

Euro

1

Rs.78.11

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.