MIRA
INFORM REPORT
|
Report Date : |
06.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
DEACON PRODUCTS LIMITED |
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|
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Registered Office : |
Unit 1 Penn Industrial Estate, |
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Country : |
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Financials (as on) : |
31.07.2012 |
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Date of Incorporation : |
07.11.1989 |
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Com. Reg. No.: |
02440650 |
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|
Legal Form : |
Private limited with Share Capital |
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|
|
|
Line of Business : |
·
MANUFACTUREr
OF WIRE PRODUCTS, CHAIN AND SPRINGS Manufacturer of fasteners, screw, chains, basic
iron, steel and ferro-alloys. |
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|
|
|
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 |
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|
Payment Behaviour : |
No Complaints |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
Company name & address
|
Company Name: |
DEACON PRODUCTS LIMITED |
|
Company No: |
02440650 |
|
Registered Address: |
|
Unit 1 Penn Industrial Estate |
|
Providence Street |
|
Cradley Heath |
|
B64 5dj |
Company summary
|
Company Name |
DEACON PRODUCTS LIMITED |
Company Number |
02440650 |
|
Registered Address |
UNIT 1 PENN INDUSTRIAL ESTATE |
Trading Address |
Unit 1 |
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|
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Website Address |
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Telephone Number |
01384416931 |
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TPS |
No |
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|
|
Incorporation Date |
07/11/1989 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
|
Type |
Private limited with Share Capital |
|
Date of Change |
- |
Filing Date of
Accounts |
15/02/2013 |
|
|
|
Share Capital |
£1,751 |
|
SIC03 |
2873 |
Currency |
GBP |
|
SIC03 Description |
Manufacture of wire products |
||
|
SIC07 |
25930 |
||
|
SIC07 Description |
MANUFACTURE OF WIRE PRODUCTS, CHAIN AND SPRINGS |
||
|
Principal Activity |
Manufacturer of fasteners, screw, chains, basic iron, steel and
ferro-alloys. |
||
Commentary
|
No exact match CCJs are recorded against the company. |
|
|
There is insufficient data to indicate a change in this companies percentage
of sales. |
|
|
Net Worth increased by 15.5% during the latest trading period. |
|
|
A 17.7% growth in Total Assets occurred during the latest trading
period. |
|
|
There is insufficient data to indicate a change in this companies
pre-tax profit. |
|
|
The company saw an increase in their Cash Balance of 27.7% during the
latest trading period. |
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The company is exempt from audit. |
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No recent changes in directorship are recorded. |
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The company is not part of a group. |
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|
The movement in accumulated earnings would indicate that the company
made a profit after tax and other appropriations, including dividends. |
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The company was established over 24 years ago. |
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Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
31/07/2012 |
- |
- |
£2,329,205 |
- |
|
31/07/2011 |
- |
- |
£2,016,536 |
- |
|
31/07/2010 |
- |
- |
£1,786,910 |
- |
Payment Information Summary
|
Days Beyond
Terms |
Trend Indicator |
Average Payment
Experience |
|
||
|
Steady Improving Worsening |
Within Terms91+
Days |
|
Trade Debtors / Bad Debt Summary
|
Total Number of Documented Trade Debtors / Bad Debt - |
1 |
|
|
Total Value of Documented Trade Debtors / Bad Debt - |
£345 |
|
CCJ
|
Total Number of Exact CCJs - |
Total Value of Exact CCJs - |
|
|
|
Total Number of Possible CCJs - |
Total Value of Possible CCJs - |
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|
|
Total Number of Satisfied CCJs - |
Total Value of Satisfied CCJs - |
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|
|
Total Number of Writs - |
- |
|
|
Exact CCJ Details
There are no exact CCJ details
Possible CCJ Details
There are no possible CCJ details
Writ Details
There are no writ details
Mortgage Summary
|
Outstanding |
0 |
|
Satisfied |
0 |
|
Total Current Directors |
3 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company
Secretaries |
3 |
Current Directors
|
Name |
Date of Birth |
09/05/1944 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
1 |
Function |
Director |
|
Appointment Date |
01/08/2002 |
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|
|
Address |
24 Finstall Road, Aston Fields,
Bromsgrove, Worcestershire, B60 2EA |
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Name |
Date of Birth |
09/01/1960 |
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|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
5 |
Function |
Director |
|
Appointment Date |
06/09/1991 |
|
|
|
Address |
27 Sidlaw Close, Halesowen, West Midlands,
B63 1JS |
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|
|
|
|
|
Name |
Date of Birth |
22/10/1965 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
2 |
Function |
Director |
|
Appointment Date |
06/09/1991 |
|
|
|
Address |
73 Witley Avenue, Halesowen, West
Midlands, B63 4DU |
||
|
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Current Company Secretary
|
Name |
Date of Birth |
09/01/1960 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
5 |
Function |
Company
Secretary |
|
Appointment Date |
06/09/1991 |
|
|
|
Address |
27 Sidlaw Close, Halesowen, West Midlands,
B63 1JS |
||
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Top 20 Shareholders
|
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
|
BRUCE JAMES LORENZO CONNOP |
GBP |
877 |
ORDINARY |
1 |
50.09 |
|
JONATHAN BRETT CONNOP |
GBP |
874 |
ORDINARY |
1 |
49.91 |
Profit & Loss
|
Date Of Accounts |
31/07/12 |
31/07/11 |
31/07/10 |
31/07/09 |
31/07/08 |
|
Weeks |
52 |
52 |
52 |
52 |
52 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Consolidated A/cs |
N |
N |
N |
N |
N |
|
Turnover |
- |
- |
- |
- |
- |
|
Export |
- |
- |
- |
- |
- |
|
Cost of Sales |
- |
- |
- |
- |
- |
|
Gross Profit |
- |
- |
- |
- |
- |
|
Wages & Salaries |
- |
- |
- |
- |
- |
|
Directors Emoluments |
- |
- |
- |
- |
- |
|
Operating Profit |
- |
- |
- |
- |
- |
|
Depreciation |
£33,996 |
£28,308 |
£27,852 |
£22,244 |
£13,962 |
|
Audit Fees |
- |
- |
- |
- |
- |
|
Interest Payments |
- |
- |
- |
- |
- |
|
Pre Tax Profit |
- |
- |
- |
- |
- |
|
Taxation |
- |
- |
- |
- |
- |
|
Profit After Tax |
- |
- |
- |
- |
- |
|
Dividends Payable |
- |
- |
- |
- |
- |
|
Retained Profit |
- |
- |
- |
- |
- |
Balance Sheet
|
Date Of Accounts |
31/07/12 |
31/07/11 |
31/07/10 |
31/07/09 |
31/07/08 |
|
Tangible Assets |
£405,827 |
£299,081 |
£279,547 |
£510,250 |
£431,007 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
0 |
|
Total Fixed
Assets |
£405,827 |
£299,081 |
£279,547 |
£510,250 |
£431,007 |
|
Stock |
£625,752 |
£443,667 |
£480,329 |
£525,797 |
£362,817 |
|
Trade Debtors |
£964,247 |
£1,001,889 |
£655,047 |
£412,728 |
£582,453 |
|
Cash |
£740,686 |
£580,093 |
£631,998 |
£479,663 |
£390,381 |
|
Other Debtors |
0 |
0 |
0 |
0 |
0 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
0 |
|
Total Current
Assets |
£2,330,685 |
£2,025,649 |
£1,767,374 |
£1,418,188 |
£1,335,651 |
|
Trade Creditors |
£355,991 |
£270,781 |
£227,798 |
£194,699 |
£164,644 |
|
Bank Loans & Overdrafts |
0 |
0 |
0 |
0 |
0 |
|
Other Short Term Finance |
0 |
0 |
0 |
0 |
0 |
|
Miscellaneous Current Liabilities |
0 |
0 |
0 |
0 |
0 |
|
Total Current
Liabilities |
£355,991 |
£270,781 |
£227,798 |
£194,699 |
£164,644 |
|
Bank Loans & Overdrafts and LTL |
£51,316 |
£37,413 |
£32,213 |
£26,054 |
£10,081 |
|
Other Long Term Finance |
0 |
0 |
0 |
0 |
0 |
|
Total Long Term
Liabilities |
£51,316 |
£37,413 |
£32,213 |
£26,054 |
£10,081 |
Capital & Reserves
|
Date Of Accounts |
31/07/12 |
31/07/11 |
31/07/10 |
31/07/09 |
31/07/08 |
|
Called Up Share Capital |
£1,751 |
£1,751 |
£1,751 |
£1,751 |
£1,751 |
|
P & L Account Reserve |
£2,327,454 |
£2,014,785 |
£1,785,159 |
£1,705,934 |
£1,590,182 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£2,329,205 |
£2,016,536 |
£1,786,910 |
£1,707,685 |
£1,591,933 |
Other Financial Items
|
Date Of Accounts |
31/07/12 |
31/07/11 |
31/07/10 |
31/07/09 |
31/07/08 |
|
Net Worth |
£2,329,205 |
£2,016,536 |
£1,786,910 |
£1,707,685 |
£1,591,933 |
|
Working Capital |
£1,974,694 |
£1,754,868 |
£1,539,576 |
£1,223,489 |
£1,171,007 |
|
Total Assets |
£2,736,512 |
£2,324,730 |
£2,046,921 |
£1,928,438 |
£1,766,658 |
|
Total Liabilities |
£407,307 |
£308,194 |
£260,011 |
£220,753 |
£174,725 |
|
Net Assets |
£2,329,205 |
£2,016,536 |
£1,786,910 |
£1,707,685 |
£1,591,933 |
Miscellaneous
|
Date Of Accounts |
31/07/12 |
31/07/11 |
31/07/10 |
31/07/09 |
31/07/08 |
|
Contingent Liability |
NO |
NO |
NO |
NO |
NO |
|
Capital Employed |
£2,380,521 |
£2,053,949 |
£1,819,123 |
£1,733,739 |
£1,602,014 |
|
Number of Employees |
- |
- |
- |
- |
- |
|
Auditors |
|
||||
|
Auditor Comments |
The company is exempt from audit |
||||
|
Bankers |
LLOYDS TSB BANK PLC |
||||
Ratios
|
Date Of Accounts |
31/07/12 |
31/07/11 |
31/07/10 |
31/07/09 |
31/07/08 |
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
Current ratio |
6.55 |
7.48 |
7.76 |
7.28 |
8.11 |
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
2.20 |
1.90 |
1.80 |
1.50 |
0.60 |
|
Equity in % |
85.10 |
86.70 |
87.30 |
88.60 |
90.10 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid Test |
4.78 |
5.84 |
5.64 |
4.58 |
5.90 |
|
Return On Capital Employed % |
- |
- |
- |
- |
- |
|
Return On Total Assets Employed % |
- |
- |
- |
- |
- |
|
Current Debt Ratio |
0.15 |
0.13 |
0.12 |
0.11 |
0.10 |
|
Total Debt Ratio |
0.17 |
0.15 |
0.14 |
0.12 |
0.10 |
|
Stock Turnover Ratio % |
- |
- |
- |
- |
- |
|
Return on Net Assets Employed % |
- |
- |
- |
- |
- |
Status History
No Status History found
Event History
|
Date |
Description |
|
29/10/2013 |
Annual Returns |
|
20/02/2013 |
New Accounts Filed |
|
20/02/2013 |
New Accounts Filed |
|
24/10/2012 |
Annual Returns |
|
09/01/2012 |
Annual Returns |
|
15/11/2011 |
New Accounts Filed |
|
13/06/2011 |
Mr D.J. Tovey has left the board |
|
19/02/2011 |
New Accounts Filed |
|
21/12/2010 |
Annual Returns |
|
01/02/2010 |
Annual Returns |
|
18/12/2009 |
New Accounts Filed |
|
16/12/2009 |
Change in Reg.Office |
|
17/04/2009 |
Change in Reg.Office |
|
17/04/2009 |
Change of Company Postcode |
|
12/03/2009 |
New Accounts Filed |
Previous Company Names
|
No Previous Names found |
Statistics
|
Group |
- |
|
Linkages |
|
|
Countries |
Group structure
|
Statistics
|
Group |
|
|
Linkages |
0 companies |
|
Countries |
In 0 countries |
Exact CCJ Details
|
No CCJs found |
Possible CCJs Details
|
There are no possible CCJ details |
Writ Details
|
No writs found |
Mortgage Details
Creditor Details
|
No Creditor Data |
|
|
Total Value |
- |
Trade Debtors / Bad Debt Detail
|
Company Name |
Amount |
Statement Date |
|
|
£345 |
22/03/2011 |
||
|
Total Value |
£345 |
||
Previous Director/Company
Secretaries
|
Name |
Current Directorships |
Previous Directorships |
|
0 |
1 |
|
|
0 |
2 |
|
|
0 |
1 |
|
Average Invoice Value |
£54.62 |
|
Invoices available |
59 |
|
Paid |
56 |
|
Outstanding |
3 |
|
Trade Payment Data is information that we collect from selected third
party partners who send us information about their whole sales ledger. |
|
|
Within Terms |
0-30 Days |
31-60 Days |
61-90 Days |
91+ Days |
|
Paid |
8 |
32 |
13 |
0 |
3 |
|
Outstanding |
0 |
0 |
0 |
0 |
3 |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.45 |
|
UK Pound |
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.84.35 |
INFORMATION DETAILS
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.