|
Report Date : |
28.02.2014 |
IDENTIFICATION DETAILS
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Name : |
HARRY YEARSLEY LTD. |
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Registered Office : |
Hareshill Road Heywood, OL10 2TP |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
04.11.1955 |
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Com. Reg. No.: |
00556895 |
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Legal Form : |
Private Parent |
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Line of Business : |
· Subject is engaged in Cold Storage and Distribution division, collect, store, consolidate and deliver frozen foods · Retail and wholesale trade in frozen foods |
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No. of Employees : |
1,048 |
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 – 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 |
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Very High |
C1 |
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Restricted |
C2 |
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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
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Source
: CIA |
HARRY YEARSLEY LTD.
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The Yearsley Group is a privately owned company established in 1955. The Group is a major player throughout the UK in two areas The Frozen Food Sales division sells branded and own label frozen foods to wholesalers, retailers, caterers and institutions in all sectors of the marketplace including Export. The Cold Storage and Distribution division, collect, store, consolidate and deliver frozen foods throughout the supply chain. Yearsley Group is the largest cold storage company in the UK. Today we have 13 sites nationally from Glasgow to Gillingham with a total capacity of 320,000 pallets. The fleet of over 300 vehicles deliver nationwide and 1,200 people are employed across the country |
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
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Registered No.(UK): 00556895
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6329098
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6591356
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Heywood |
United Kingdom |
Grocery Wholesale |
246.3 |
1,048 |
|
|
Subsidiary |
Heywood |
United Kingdom |
Miscellaneous Professional Services |
175 |
||
|
UK Branch/Trading address |
Seaham |
United Kingdom |
Storage and Warehousing |
246.3 |
80 |
|
|
UK Branch/Trading address |
Bellshill |
United Kingdom |
Storage and Warehousing |
246.3 |
20 |
|
|
Subsidiary |
Heywood |
United Kingdom |
Residential Real Estate Leasing |
0.1 |
||
|
Subsidiary |
Heywood |
United Kingdom |
||||
|
Subsidiary |
Heywood |
United Kingdom |
Grocery Wholesale |
75 |
||
|
Subsidiary |
Heywood |
United Kingdom |
Miscellaneous Professional Services |
|||
|
Subsidiary |
Heywood |
United Kingdom |
||||
|
Subsidiary |
Heywood |
United Kingdom |
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Main Office Address: |
Tel: 01706 694600 |
Annual Return Date: 24 Oct
2013 |
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Individual Directors |
|||||||
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|||||||
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
10 Nov 1962 |
15 Albury Drive, Norden, |
01 Apr 2003 |
NA |
Current:11 |
||
|
Current |
21 Feb 1974 |
15 Further Field, |
01 Apr 2007 |
NA |
Current:1 |
||
|
Current |
20 Jul 1966 |
Heights Houses Farm Inchfield Road, Walsden, |
01 Nov 1997 |
NA |
Current:8 |
||
|
Current |
26 Nov 1946 |
18 Bury & Rochdale Old Road, Birtle, |
27 Mar 1999 |
NA |
Current:3 |
||
|
Current |
16 Nov 1965 |
21 Woodtop Avenue, Bamford, |
01 Oct 2000 |
NA |
Current:4 |
||
|
Current |
01 Oct 1968 |
Hareshill Road, Heywood, |
01 Apr 2003 |
NA |
Current:3 |
||
|
Previous |
31 May 1941 |
Perissou", |
24 Oct 1991 |
23 Jan 1995 |
Current:0 |
||
|
Previous |
31 Dec 1914 |
Belfield Hall Farm Albert Royds Street, |
24 Oct 1991 |
14 Aug 1999 |
Current:0 |
||
|
Previous |
20 Mar 1970 |
4A St Georges Road, Norden, |
01 Apr 2003 |
31 Mar 2011 |
Current:0 |
||
|
Previous |
10 May 1939 |
Crofthead Farm Wild House Lane, Milnrow, |
24 Oct 1991 |
04 Mar 1999 |
Current:1 |
||
|
Previous |
23 May 1970 |
Gorsey Lane, Widnes, |
02 Apr 2012 |
01 Jul 2013 |
Current:1 |
||
|
Previous |
11 Nov 1946 |
1 Hands Lane, Bamford, |
01 Oct 2000 |
31 Dec 2006 |
Current:0 |
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Corporate Directors |
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There are no corporate directors for this company. |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
10 Nov 1962 |
15 Albury Drive, Norden, |
01 Apr 2003 |
NA |
Current:11 |
||
|
Previous |
NA |
13 Bruce Street, |
24 Oct 1991 |
23 Mar 2001 |
Current:0 |
||
|
Previous |
26 Nov 1946 |
18 Bury & Rochdale Old Road, Birtle, |
23 Mar 2001 |
01 Apr 2003 |
Current:3 |
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Corporate Secretaries |
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There are no corporate secretaries for this company. |
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Individual Shareholders |
||||||
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Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
Yearsley Group Limited |
90500 A Ordinary GBP 1.00 |
A Ordinary |
90,500 |
1.00 |
90,500.00 |
90.00 |
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Corporate Shareholders |
|||||||
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Company Name |
Registration Number |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
08476033 |
10056 B Ordinary GBP 1.00 |
B Ordinary |
10,056 |
1.00 |
10,056.00 |
10.00 |
|
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Yearsley
Group invests in the next generation |
02-Dec-2013 |
||
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GOODS
VEHICLE OPERATOR''''S LICENCE |
19-Sep-2013 |
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GOODS
VEHICLE OPERATOR'S LICENCE |
19-Sep-2013 |
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GOODS
VEHICLE OPERATOR''''S LICENCE ; Public Notices |
19-Sep-2013 |
||
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Yearsley
Logistics builds new cold store warehouse in England |
23-Jul-2013 |
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DAREGAL
GOURMET WIN BFFF RETAIL PRODUCT OF THE YEAR |
17-Jun-2013 |
||
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Yearsley
Logistics primary consolidation centre |
01-May-2013 |
||
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Yearsley
Group launch major re-branding |
01-Apr-2013 |
|
31-Mar-2013 |
31-Mar-2012 |
02-Apr-2011 |
27-Mar-2010 |
28-Mar-2009 |
|
|
Period Length |
52 Weeks |
53 Weeks |
53 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period Average) |
0.63291 |
0.626752 |
0.643214 |
0.628176 |
0.590376 |
|
Consolidated |
Yes |
Yes |
Yes |
Yes |
Yes |
|
|
|
|
|
|
|
|
Turnover (UK) |
240.5 |
222.8 |
185.5 |
199.6 |
236.4 |
|
Turnover (Exports) |
5.8 |
6.3 |
4.2 |
2.4 |
3.3 |
|
Total Turnover |
246.3 |
229.2 |
189.6 |
202.0 |
239.7 |
|
Cost of Sales |
162.3 |
151.5 |
114.0 |
115.3 |
147.5 |
|
Gross Profit |
84.0 |
77.6 |
75.7 |
86.7 |
92.1 |
|
Depreciation |
8.2 |
9.3 |
9.8 |
10.2 |
9.2 |
|
Other Expenses |
78.2 |
70.1 |
69.9 |
75.9 |
88.8 |
|
Other Income |
6.2 |
0.3 |
0.3 |
0.4 |
0.5 |
|
Interest Paid |
4.8 |
2.6 |
2.7 |
2.5 |
1.7 |
|
Exceptional Income |
0.0 |
0.0 |
0.2 |
-0.3 |
3.7 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit Before Taxes |
7.3 |
5.1 |
3.5 |
8.4 |
5.8 |
|
Tax Payable / Credit |
-7.1 |
3.2 |
1.8 |
5.3 |
1.6 |
|
Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends |
0.0 |
0.7 |
0.0 |
0.0 |
0.0 |
|
Profit After Taxes |
14.3 |
1.2 |
1.8 |
3.1 |
4.2 |
|
Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Audit Fees |
0.0 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Non Audit Fees |
0.4 |
0.3 |
0.2 |
0.0 |
0.0 |
|
Number of Employees |
- |
1,048 |
1,083 |
1,195 |
1,261 |
|
Wages |
41.8 |
40.6 |
43.5 |
49.1 |
55.7 |
|
Social Security Costs |
3.5 |
3.7 |
3.9 |
3.8 |
3.9 |
|
Pensions |
0.1 |
0.1 |
- |
- |
- |
|
Other Pension Costs |
0.7 |
0.7 |
0.8 |
0.7 |
0.7 |
|
Employees Remuneration |
46.0 |
45.0 |
48.2 |
53.7 |
60.4 |
|
Other Costs |
0.5 |
0.6 |
- |
- |
- |
|
Directors Remuneration |
0.6 |
0.7 |
1.6 |
4.4 |
0.6 |
|
Highest Paid Director |
0.2 |
0.2 |
0.3 |
1.1 |
0.1 |
|
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
31-Mar-2013 |
31-Mar-2012 |
02-Apr-2011 |
27-Mar-2010 |
28-Mar-2009 |
|
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.659136 |
0.628108 |
0.623791 |
0.670938 |
0.698153 |
|
Consolidated |
Yes |
Yes |
Yes |
Yes |
Yes |
|
|
|
|
|
|
|
|
Land & Buildings |
27.8 |
62.2 |
65.9 |
63.9 |
35.2 |
|
Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Plant & Vehicles |
17.2 |
30.1 |
31.0 |
35.7 |
21.9 |
|
Total Tangible Fixed Assets |
45.0 |
92.3 |
96.9 |
99.6 |
57.1 |
|
Intangible Assets |
0.4 |
1.0 |
1.5 |
0.0 |
0.0 |
|
Investments |
1.2 |
1.5 |
1.6 |
1.4 |
0.0 |
|
Total Fixed Assets |
46.6 |
94.8 |
100.0 |
101.0 |
57.1 |
|
Stocks |
21.3 |
17.7 |
11.4 |
5.3 |
- |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Total Stocks Work In Progress |
21.3 |
17.7 |
11.4 |
5.3 |
8.1 |
|
Trade Debtors |
39.0 |
37.1 |
35.5 |
31.0 |
35.2 |
|
Inter-Company Debtors |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Debtors |
8.5 |
17.3 |
21.5 |
10.1 |
10.9 |
|
Total Debtors |
47.5 |
54.4 |
57.0 |
41.2 |
46.1 |
|
Cash and Equivalents |
0.6 |
4.6 |
5.5 |
3.3 |
0.1 |
|
Other Current Assets |
0.5 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
70.0 |
76.7 |
74.0 |
49.8 |
54.3 |
|
Total Assets |
116.6 |
171.5 |
174.0 |
150.8 |
111.4 |
|
Trade Creditors |
32.9 |
25.1 |
27.0 |
15.3 |
23.3 |
|
Bank Overdraft |
0.1 |
0.3 |
1.6 |
1.9 |
1.4 |
|
Inter-Company Creditors |
10.9 |
0.0 |
0.0 |
0.0 |
- |
|
Director Loans (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.4 |
|
Hire Purchase (Current Liability) |
- |
- |
0.0 |
- |
- |
|
Finance Lease (Current Liability) |
- |
- |
0.0 |
- |
- |
|
Total Finance Lease/Hire Purchase (Current Liability) |
1.3 |
2.0 |
0.0 |
0.6 |
2.2 |
|
Total Short Term Loans |
1.1 |
5.0 |
7.5 |
8.1 |
3.9 |
|
Accruals/Deferred Income (Current Liability) |
3.1 |
12.4 |
11.3 |
10.4 |
5.7 |
|
Social Security/VAT |
13.9 |
11.9 |
12.2 |
1.5 |
3.8 |
|
Corporation Tax |
0.9 |
5.2 |
5.0 |
4.9 |
1.9 |
|
Dividends (Current Liability) |
- |
0.0 |
0.0 |
0.0 |
- |
|
Other Current Liabilities |
15.2 |
7.3 |
4.5 |
7.3 |
12.9 |
|
Total Current Liabilities |
79.5 |
69.2 |
69.1 |
49.9 |
55.4 |
|
Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.6 |
|
Other Long Term Loans |
3.7 |
42.1 |
45.4 |
46.1 |
8.3 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
1.3 |
1.3 |
1.3 |
1.3 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
3.7 |
43.3 |
46.7 |
47.4 |
10.2 |
|
Deferred Taxation |
0.0 |
5.8 |
5.7 |
5.9 |
6.3 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.4 |
0.0 |
|
Total Provisions |
0.0 |
5.8 |
5.7 |
6.4 |
6.3 |
|
Issued Capital |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
33.3 |
53.0 |
52.2 |
46.8 |
39.0 |
|
Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minority Interests (Balance Sheet) |
0.0 |
0.0 |
-0.2 |
-0.2 |
-0.4 |
|
Total Shareholders Funds |
33.5 |
53.2 |
52.3 |
46.9 |
39.1 |
|
Net Worth |
33.1 |
52.2 |
50.7 |
46.9 |
39.1 |
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
31-Mar-2013 |
31-Mar-2012 |
02-Apr-2011 |
27-Mar-2010 |
28-Mar-2009 |
|
|
Period Length |
52 Weeks |
53 Weeks |
53 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period Average) |
0.63291 |
0.626752 |
0.643214 |
0.628176 |
0.590376 |
|
Consolidated |
Yes |
Yes |
Yes |
Yes |
Yes |
|
|
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
30.0 |
15.7 |
19.4 |
- |
3.4 |
|
Net Cash Flow from ROI and Servicing of Finance |
-2.1 |
-2.5 |
-2.5 |
- |
-1.3 |
|
Taxation |
-3.0 |
-2.8 |
-2.8 |
- |
-3.0 |
|
Capital Expenditures |
-39.9 |
-8.7 |
0.6 |
- |
-1.9 |
|
Acquisitions and Disposals |
0.0 |
-0.1 |
-3.2 |
- |
-0.2 |
|
Paid Up Equity |
0.0 |
-0.7 |
0.0 |
- |
0.0 |
|
Management of Liquid Resources |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Net Cash Flow From Financing |
15.9 |
-0.6 |
-9.1 |
- |
11.2 |
|
Increase in Cash |
0.9 |
0.3 |
2.4 |
- |
8.3 |
|
Annual Ratios |
|
Financials in: USD (mil) |
|
31-Mar-2013 |
31-Mar-2012 |
02-Apr-2011 |
27-Mar-2010 |
28-Mar-2009 |
|
|
Period Length |
52 Weeks |
53 Weeks |
53 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.659136 |
0.628108 |
0.623791 |
0.670938 |
0.698153 |
|
Consolidated |
Yes |
Yes |
Yes |
Yes |
Yes |
|
|
|
|
|
|
|
|
Current Ratio |
0.88 |
1.11 |
1.07 |
1.00 |
0.98 |
|
Liquidity Ratio |
0.61 |
0.85 |
0.91 |
0.89 |
0.83 |
|
Stock Turnover |
11.08 |
12.67 |
16.84 |
35.57 |
25.06 |
|
Credit Period (Days) |
60.25 |
60.31 |
67.63 |
59.88 |
63.36 |
|
Working Capital by Sales |
-4.00% |
3.35% |
2.54% |
-0.08% |
-0.56% |
|
Trade Credit by Debtors |
0.84 |
0.68 |
0.76 |
0.49 |
0.66 |
|
Return on Capital |
18.79% |
4.92% |
3.38% |
7.78% |
8.81% |
|
Return on Assets |
5.99% |
2.93% |
2.04% |
5.20% |
4.43% |
|
Profit Margin |
2.95% |
2.24% |
1.85% |
4.15% |
2.43% |
|
Return on Shareholders Funds |
20.88% |
9.46% |
6.78% |
16.72% |
12.62% |
|
Borrowing Ratio |
51.96% |
94.52% |
107.28% |
120.79% |
42.97% |
|
Equity Gearing |
28.69% |
31.00% |
30.06% |
31.12% |
35.10% |
|
Debt Gearing |
11.25% |
80.65% |
89.41% |
98.27% |
22.80% |
|
Interest Coverage |
1.52 |
1.96 |
1.32 |
3.39 |
3.53 |
|
Sales by Tangible Assets |
526.00 |
243.00 |
198.00 |
190.00 |
355.00 |
|
Average Remuneration per Employee |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit per Employee |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sales per Employee |
- |
0.2 |
0.2 |
0.2 |
0.2 |
|
Capital Employed per Employee |
- |
0.1 |
0.1 |
0.1 |
0.0 |
|
Tangible Assets per Employee |
- |
0.1 |
0.1 |
0.1 |
0.0 |
|
Total Assets per Employee |
- |
0.2 |
0.2 |
0.1 |
0.1 |
|
Employee Remuneration by Sales |
18.67% |
19.61% |
25.43% |
26.57% |
25.19% |
|
Creditor Days (Cost of Sales Based) |
77.16 |
61.83 |
85.62 |
51.61 |
68.07 |
|
Creditor Days (Sales Based) |
50.84 |
40.88 |
51.46 |
29.46 |
41.90 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.11 |
INFORMATION DETAILS
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.