|
Report Date : |
01.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
30.12.1947 |
|
|
|
|
Com. Reg. No.: |
00447239 |
|
|
|
|
Legal Form : |
Private limited with
Share Capital |
|
|
|
|
Line of Business : |
Manufacturer of taps and calves |
|
|
|
|
No of Employees : |
205 |
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 second largest economy in Europe after Germany.
Over the past two decades, the government has greatly reduced public ownership
and contained the growth of social welfare programs. 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, account by far for the largest proportion of
GDP while industry continues to decline in importance. 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. Sharply declining 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 include
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 over 10% of GDP in 2010 to nearly 1% by 2015. In
November 2011, Chancellor of the Exchequer George OSBORNE announced additional
austerity measures through 2017 because of slower-than-expected economic growth
and the impact of 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 up to £375 billion (approximately $605 billion) as of
December 2012. 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. GDP fell 0.1%, and the
budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued
to increase.
|
Source
: CIA |
|
CRANE PROCESS
FLOW TECHNOLOGIES LTD |
Telephone |
+44 016 3348 6666 |
|
|
GRANGE ROAD |
Fax |
- |
|
|
CWMBRAN |
Website |
||
|
GWENT |
|||
|
NP44 3XX |
|||
|
United Kingdom |
|||
|
Company Number: Foundation: |
00447239 30/12/1947 |
Status: |
Active - Accounts Filed |
No exact match CCJs are recorded
against the company. Sales in the latest trading period increased 1.5% on the previous
trading period. A 6.6% growth in Total Assets occurred during the latest trading period. The audit report contains no
adverse comments.
The credit limit
on this company has fallen 50% in comparison to the previously suggested credit limit. Net Worth decreased by 433.7% during the
latest trading period. Pre-tax
profits decreased by 63.7%
compared to the previous
trading period. The company saw a decrease in their Cash Balance of 40.1% during
the latest trading period.
There has been no significant change in the company’s
credit rating. No recent changes in directorship are recorded. The company
is part of a group. The company was established over 65 years ago.
Legal form
Private limited with Share Capital
Foundation
30/12/1947
Company No.
00447239
Previous Names
Date of
change Previous Name
03/04/2001 ALFA LAVAL SAUNDERS LIMITED
14/02/1996
SAUNDERS VALVE COMPANY LIMITED
Shareholders
|
Name |
Currency |
Number of Shares |
Share type |
Nominal value |
|
CRANE LTD |
GBP |
14,000,000 |
ORDINARY |
0.25 |
|
Total Share Capital |
|
|
|
GBP 3,500,000 |
Management
Directors
|
Name |
Address: |
Date of birth |
Nationality |
Appointment date |
|
Mr Eric Carson Fast |
29 Hillside
Road, Greenwich Fairfield, Connecticut 06830 |
10/07/1949 |
American |
03/04/2001 |
|
Mr David Jones |
4 Clos Dwyerw,
Caerphilly, Mid Glamorgan CF83 1TE |
05/08/1969 |
British |
13/01/2008 |
|
Mr Kevin Burke |
4444 Cooper
Road, Cincinnati, Ohio Oh45242 |
15/02/1967 |
American |
19/05/2010 |
Company Secretary
|
Name |
Address: |
Appointment date |
|
Mr David Maile |
Rose Cottage 44
The Woodlands, Talywain, Pontypool, Gwent NP4 7JL |
29/02/2008 |
Other Known Addresses
Grange Road, Cwmbran, Gwent NP44 3XX
|
Company No. |
Name |
Status |
Country |
|
Ultimate parent |
|
|
|
|
US48500524 |
CRANE CO INC |
Active |
USA |
|
Affiliated companies |
|
|
|
|
04279520 |
DELTA FLUID PRODUCTS LIMITED |
Non Trading |
United Kingdom |
|
04279520 |
DONALD BROWN (BROWNALL) LIMITED |
Non Trading |
United Kingdom |
|
04360858 |
SPERRYN & COMPANY LIMITED |
Non Trading |
United Kingdom |
|
04360866 |
WADE COUPLINGS LIMITED |
Non Trading |
United Kingdom |
|
04360883 |
B RHODES & SON LIMITED |
Non Trading |
United Kingdom |
|
04360891 |
NABIC VALVE SAFETY PRODUCTS LIMITED |
Non Trading |
United Kingdom |
|
05035764 |
HATTERSLEY NEWMAN HENDER LIMITED |
Non Trading |
United Kingdom |
|
05035801 |
PEGLER HATTERSLEY LIMITED |
Non Trading |
United Kingdom |
|
05093316 |
INTA-LOK LTD |
Non Trading |
United Kingdom |
|
05590104 |
WASK LIMITED |
Non Trading |
United Kingdom |
|
05602813 |
VIKING JOHNSON LIMITED |
Non Trading |
United Kingdom |
|
07435150 |
CRANE PENSION
TRUSTEE COMPANY (UK) LIMITED |
Non Trading |
United Kingdom |
|
02360425 |
CRANE MERCHANDISING SYSTEMS LIMITED |
Active |
United Kingdom |
|
02990346 |
AUTOMATIC PRODUCTS (UK) LIMITED |
Active |
United Kingdom |
|
00549383 |
CRANE STOCKHAM VALVE LIMITED |
Active |
United Kingdom |
|
01706070 |
TRIANGLE VALVE CO. LIMITED |
Non Trading |
United Kingdom |
|
00723453 |
ELDEC ELECTRONICS LTD |
Non Trading |
United Kingdom |
|
US00939686 |
CRANE ELECTRONICS, INC |
Active |
USA |
|
02297816 |
INTERPOINT (UK) LIMITED |
Active |
United Kingdom |
|
US45686354 |
CRANE INTERNATIONAL HOLDINGS, INC |
Active |
USA |
|
04101125 |
CRANE COMPOSITES LIMITED |
Active |
United Kingdom |
|
07424085 |
CRANE SC HOLDINGS LIMITED |
Active |
United Kingdom |
|
03878137 |
CA-MC ACQUISITION UK LIMITED |
Non Trading |
United Kingdom |
|
02549191 |
MONEY CONTROLS HOLDINGS LIMITED |
Non Trading |
United Kingdom |
|
01864094 |
COIN PENSION TRUSTEES LIMITED |
Non Trading |
United Kingdom |
|
03555449 |
COIN HOLDINGS LIMITED |
Non Trading |
United Kingdom |
|
01687894 |
CRANE PAYMENT SOLUTIONS LIMITED |
Active |
United Kingdom |
|
03555446 |
COIN OVERSEAS HOLDINGS LIMITED |
Non Trading |
United Kingdom |
|
02390016 |
COIN CONTROLS INTERNATIONAL LIMITED |
Non Trading |
United Kingdom |
|
01687632 |
COIN INDUSTRIES LIMITED |
Non Trading |
United Kingdom |
|
Immediate parent |
|
|
|
|
00098677 |
CRANE LIMITED |
Active |
United Kingdom |
|
|
|
|
|
Main activity
SIC03 Manufacture of taps and
valves
SIC07 Manufacture of taps and
valves
Turnover and Employees
|
Date of Accounts |
Turnover |
Employees |
|
31/12/2010 |
GBP 21,524,000 |
217 |
|
31/12/2011 |
GBP 20,506,000 |
214 |
|
31/12/2012 |
GBP 20,808,000 |
205 |
Bank Name
Bank Branch Sort Code
NATIONAL WESTMINSTER BANK PLC
53-61-24
Auditor
Auditor name
DELOITTE LLP
Events
Company history
Date Action
16/04/2009 Annual Returns
09/10/2009 Mr R.C. Tuck has
left the board
10/11/2009 New Accounts
Filed
10/11/2009 New Accounts
Filed
14/04/2010 Annual Returns
14/06/2010 Mr P.G. Wilson
has left the board
17/06/2010 New Board Member
Mr K. Burke appointed
03/09/2010 New Accounts
Filed
03/09/2010 New Accounts
Filed
12/04/2011 Annual Returns
16/09/2011 New Accounts
Filed
16/09/2011 New Accounts
Filed
11/04/2012 Annual Returns
04/10/2012 New Accounts
Filed
13/04/2013 Annual
Returns
04/10/2013
New Accounts Filed
04/10/2013 New Accounts
Filed
County Court Judgments (CCJs)
There are no County Court Judgments listed against this company
PROFIT & LOSS
|
|
52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 52 GBP Group: No |
31/12/2009 52 GBP Group: No |
|
Turnover |
20,808,000 |
20,506,000 |
21,524,000 |
16,938,000 |
|
Export |
7,819,000 |
8,189,000 |
- |
- |
|
|
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 52 GBP Group: No |
31/12/2009 52 GBP Group: No |
|
Cost of Sales |
- |
- |
- |
- |
|
Gross Profit |
- |
- |
- |
- |
|
Wages And Salaries |
7,381,000 |
7,377,000 |
7,500,000 |
7,023,000 |
|
Directors Emoluments |
360,000 |
307,000 |
204,000 |
722,000 |
|
Operating Profit |
700,000 |
2,000,000 |
3,399,000 |
74,000 |
|
Depreciation |
221,000 |
197,000 |
187,000 |
173,000 |
|
Audit Fees |
50,000 |
50,000 |
42,000 |
40,000 |
|
Interests Payments |
0 |
0 |
3,548,000 |
3,539,000 |
|
Pre Tax Profit |
739,000 |
2,034,000 |
3,437,000 |
-311,000 |
|
Taxation |
-895,000 |
-734,000 |
-1,024,000 |
25,000 |
|
Profit After Tax |
-156,000 |
1,300,000 |
2,413,000 |
-286,000 |
|
Dividends Payable |
0 |
0 |
0 |
8,400,000 |
|
Retained Profit |
-156,000 |
1,300,000 |
2,413,000 |
-8,686,000 |
BALANCE SHEET
|
|
52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 52 GBP Group: No |
31/12/2009 52 GBP Group: No |
|
Tangible Assets |
5,394,000 |
4,674,000 |
3,629,000 |
2,736,000 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
5,394,000 |
4,674,000 |
3,629,000 |
2,736,000 |
|
Stock |
2,712,000 |
3,107,000 |
3,052,000 |
2,971,000 |
|
Trade Debtors |
1,898,000 |
1,550,000 |
1,768,000 |
1,202,000 |
|
Cash |
208,000 |
347,000 |
169,000 |
428,000 |
|
Other Debtors |
1,507,000 |
1,314,000 |
1,349,000 |
1,751,000 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total Current Assets |
6,325,000 |
6,318,000 |
6,338,000 |
6,352,000 |
|
Trade Creditors |
1,557,000 |
1,630,000 |
1,341,000 |
1,683,000 |
|
Bank Loans and Overdraft |
0 |
0 |
0 |
0 |
|
Other Short
Term Finance |
377,000 |
252,000 |
307,000 |
124,000 |
|
Miscellaneous Current Liabilities |
2,105,000 |
1,878,000 |
2,187,000 |
1,483,000 |
|
Total Current Liabilities |
4,039,000 |
3,760,000 |
3,835,000 |
3,290,000 |
|
Bank Loans and Overdrafts LTL |
32,128,000 |
11,813,000 |
7,015,000 |
5,168,000 |
|
Other Long Term Finance |
0 |
0 |
0 |
1,626,000 |
|
Total Long Term Liabilities |
32,128,000 |
11,813,000 |
7,015,000 |
5,168,000 |
CAPITAL & RESERVES
|
|
52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 52 GBP Group: No |
31/12/2009 52 GBP Group: No |
|
Called Up Share
Capital |
3,500,000 |
3,500,000 |
3,500,000 |
3,500,000 |
|
P and L Account Reserve |
-27,948,000 |
-8,081,000 |
-4,383,000 |
-2,870,000 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
-24,448,000 |
-4,581,000 |
-883,000 |
630,000 |
OTHER FINANCIAL ITEMS
|
|
52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 52 GBP Group: No |
31/12/2009 52 GBP Group: No |
|
Net Worth |
-24,448,000 |
-4,581,000 |
-883,000 |
630,000 |
|
Working Capital |
2,286,000 |
2,558,000 |
2,503,000 |
3,062,000 |
|
Total Assets |
11,719,000 |
10,992,000 |
9,967,000 |
9,088,000 |
|
Total Liabilities |
36,167,000 |
15,573,000 |
10,850,000 |
8,458,000 |
|
Net Assets |
-24,448,000 |
-4,581,000 |
-883,000 |
630,000 |
CASH FLOW
|
|
52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 52 GBP Group: No |
31/12/2009 52 GBP 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 |
-139,000 |
178,000 |
-259,000 |
256,000 |
MISCELLANEOUS
|
|
52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 52 GBP Group: No |
31/12/2009 52 GBP Group: No |
|
Capital Employed |
7,680,000 |
7,232,000 |
6,132,000 |
5,798,000 |
FINANCIAL RATIOS
|
Name |
31.12.2012 |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
Pre Tax Profit
Margin |
3.55 % |
9.92 % |
15.97 % |
-1.84 % |
|
Current Ration |
1.57 |
1.68 |
1.65 |
1.93 |
|
Sales or Net Working
Capital |
9.10 |
8.02 |
8.60 |
5.53 |
|
Gearing |
-131.41 % |
-257.87 % |
-794.45 % |
820.32 % |
|
Equity |
-208.62 % |
-41.68 % |
-8.86 % |
6.93 % |
|
Creditor Days |
27.23 |
28.93 |
22.67 |
36.16 |
|
Debtor Days |
33.20 |
27.51 |
29.89 |
25.83 |
|
Liquidity or Acid test |
0.89 |
0.85 |
0.85 |
1.02 |
|
Return on Capital
Employed |
9.62 % |
28.12 % |
56.05 % |
-5.36 % |
|
Return on Total Assets Employed |
6.30 % |
18.50 % |
34.48 % |
-3.42 % |
|
Current Debt Ratio |
-0.16 % |
-0.82 % |
-4.34 % |
5.22 % |
|
Total Debt Ratio |
-1.47 % |
-3.39 % |
-12.28 % |
13.42 % |
|
Stock Turnover Ratio |
13.03 % |
15.15 % |
14.17 % |
17.54 % |
|
Return on Net
Assets Employed |
-3.02 % |
-44.40 % |
-389.24 % |
-49.36 % |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.47 |
|
|
1 |
Rs. 102.94 |
|
Euro |
1 |
Rs. 84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.