MIRA INFORM REPORT
|
Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
STARTIN & CO.LIMITED |
|
|
|
|
Registered Office : |
143 Southend Road, Wickford, Essex SS11 8EE |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
27.10.1970 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Financial Intermediation |
|
|
|
|
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 : |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
REGISTERED
NAME & COMPANY SUMMARY
STARTIN & CO.LIMITED
DIRECTORS/MANAGEMENT
|
Total
Current Directors |
2 |
|
Total
Current Secretaries |
1 |
|
Total
Previous Directors / Company Secretaries |
2 |
Current Directors
|
Name |
Date of
Birth |
31/12/1921 |
|
|
Officers
Title |
Mr |
Nationality |
British |
|
Present
Appointments |
1 |
Function |
Director |
|
Appointment
Date |
21/05/1991 |
|
|
|
Address |
1 Cedar
Avenue, Wickford, Essex, SS12 9DT |
||
|
Name |
Date of
Birth |
30/01/1953 |
|
|
Officers
Title |
Mrs |
Nationality |
British |
|
Present
Appointments |
1 |
Function |
Director |
|
Appointment
Date |
15/05/2008 |
|
|
|
Address |
The
Willows Canford Avenue, Wickford, Essex, SS12 0JN |
||
Current Company Secretary
|
Name |
Date of
Birth |
16/03/1946 |
|
|
Officers
Title |
Ms |
Nationality |
British |
|
Present
Appointments |
1 |
Function |
Company
Secretary |
|
Appointment
Date |
15/02/1996 |
|
|
|
Address |
81
Bynghams, Harlow, Essex, CM19 5NT |
||
Previous Director/Company Secretaries
|
Name |
Current
Directorships |
Previous
Directorships |
|
0 |
2 |
|
|
0 |
2 |
NEGATIVE
INFORMATION
Trade Debtors / Bad Debt Summary
Total Number of Documented Trade 0
Total Value of Documented Trade £0
CCJ
|
Total
Number of Exact CCJs - |
Total
Value of Exact CCJs - |
||
|
Total
Number of Possible CCJs - |
Total
Value of Possible CCJs - |
||
|
Total
Number of Satisfied CCJs - |
Total
Value of Satisfied CCJs - |
||
|
Total
Number of Writs - |
- |
|
|
Exact CCJ Details
|
No CCJs
found |
Possible CCJs Details
|
There are
no possible CCJ details |
Writ Details
|
No writs
found |
Mortgage Details
|
Mortgage
Type: |
DEBENTURE |
||
|
Date
Charge Created: |
19/07/12 |
|
|
|
Date
Charge Registered: |
25/07/12 |
|
|
|
Date
Charge Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
NATIONAL
WESTMINSTER BANK PLC |
||
|
Amount
Secured: |
ALL
MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
||
|
Details: |
FIXED AND
FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND
FUTURE, INCLUDING GOODWILL, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXEDPLANT
& MACHINERY |
||
|
Mortgage
Type: |
LEGAL
MORTGAGE |
||
|
Date
Charge Created: |
27/08/92 |
|
|
|
Date
Charge Registered: |
03/09/92 |
|
|
|
Date
Charge Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
NATIONAL
WESTMINSTER BANK PLC |
||
|
Amount
Secured: |
ALL MONIES
DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
||
|
Details: |
2 SYLVAN
ROAD WANSTEAD L/B OF REDBRIDGET/NO NGL 194832 & THE PROCEEDS OF SALE WITH
A FLOATING CHARGEOVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE
AND EQUIPMENT |
||
SHARE
& SHARE CAPITAL INFORMATION
Top 20 Shareholders
|
Name |
Currency |
Share
Count |
Share
Type |
Nominal
Value |
% of
Total Share Count |
|
JOSEPH
BOWYER |
GBP |
1,193 |
ORDINARY |
1 |
26.51 |
|
RICHARD
STAPLETON |
GBP |
1,102 |
ORDINARY |
1 |
24.49 |
|
CAROL ANN
STAPLETON |
GBP |
1,102 |
ORDINARY |
1 |
24.49 |
|
GARETH
EDWARD PERRY |
GBP |
1,102 |
ORDINARY |
1 |
24.49 |
|
GARETH
EDWARD PERRY & RICHARD STAPLETON |
GBP |
1 |
ORDINARY |
1 |
0.02 |
PAYMENT
INFORMATION
|
Average
Invoice Value |
£9.58 |
|
Invoices
available |
1 |
|
Paid |
1 |
|
Outstanding
|
0 |
|
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 |
1 |
0 |
0 |
0 |
0 |
|
Outstanding |
0 |
0 |
0 |
0 |
0 |
GROUP
STRUCTURE & AFFILIATED COMPANIES
Group structure
|
FINANCIAL
INFORMATION
Profit & Loss
|
Date Of
Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
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 |
£668 |
-24.9% |
£889 |
-72.2% |
£3,197 |
-22.6% |
£4,128 |
-23.1% |
£5,371 |
|
Audit
Fees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Interest
Payments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Pre Tax
Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Profit
After Tax |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Dividends
Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained
Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Balance Sheet
|
Date Of
Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Tangible
Assets |
£199,136 |
-0.3% |
£199,804 |
-10% |
£221,944 |
426.6% |
£42,144 |
-8.9% |
£46,272 |
|
Intangible
Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed
Assets |
£199,136 |
-0.3% |
£199,804 |
-10% |
£221,944 |
426.6% |
£42,144 |
-8.9% |
£46,272 |
|
Stock |
£31,091 |
5% |
£29,624 |
25.1% |
£23,679 |
-0.8% |
£23,872 |
-0.4% |
£23,973 |
|
Trade
Debtors |
£36,920 |
-74.8% |
£146,496 |
17.7% |
£124,459 |
31.9% |
£94,371 |
-8.4% |
£102,996 |
|
Cash |
£42,844 |
17.9% |
£36,340 |
22.6% |
£29,634 |
-36% |
£46,316 |
999.9% |
£24 |
|
Other
Debtors |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous
Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current
Assets |
£110,855 |
-47.8% |
£212,460 |
19.5% |
£177,772 |
8% |
£164,559 |
29.6% |
£126,993 |
|
Trade
Creditors |
£71,109 |
-53.8% |
£154,036 |
-1.6% |
£156,609 |
21.6% |
£128,839 |
0.4% |
£128,329 |
|
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 |
£71,109 |
-53.8% |
£154,036 |
-1.6% |
£156,609 |
21.6% |
£128,839 |
0.4% |
£128,329 |
|
Bank
Loans & Overdrafts and LTL |
£43,810 |
-37.4% |
£70,000 |
-53.3% |
£150,000 |
- |
0 |
- |
0 |
|
Other
Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total
Long Term Liabilities |
£43,810 |
-37.4% |
£70,000 |
-53.3% |
£150,000 |
- |
0 |
- |
0 |
Capital & Reserves
|
Date Of
Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Called Up
Share Capital |
£4,500 |
- |
£4,500 |
- |
£4,500 |
- |
£4,500 |
- |
£4,500 |
|
P & L
Account Reserve |
£172,572 |
4.1% |
£165,728 |
134.7% |
£70,607 |
27.5% |
£55,364 |
146.8% |
£22,436 |
|
Revaluation
Reserve |
£18,000 |
- |
£18,000 |
- |
£18,000 |
- |
£18,000 |
- |
£18,000 |
|
Sundry
Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder
Funds |
£195,072 |
3.6% |
£188,228 |
102.2% |
£93,107 |
19.6% |
£77,864 |
73.3% |
£44,936 |
Other Financial Items
|
Date Of
Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Net Worth |
£195,072 |
3.6% |
£188,228 |
102.2% |
£93,107 |
19.6% |
£77,864 |
73.3% |
£44,936 |
|
Working
Capital |
£39,746 |
-32% |
£58,424 |
176.1% |
£21,163 |
-40.8% |
£35,720 |
999.9% |
-£1,336 |
|
Total
Assets |
£309,991 |
-24.8% |
£412,264 |
3.1% |
£399,716 |
93.4% |
£206,703 |
19.3% |
£173,265 |
|
Total Liabilities |
£114,919 |
-48.7% |
£224,036 |
-26.9% |
£306,609 |
138% |
£128,839 |
0.4% |
£128,329 |
|
Net
Assets |
£195,072 |
3.6% |
£188,228 |
102.2% |
£93,107 |
19.6% |
£77,864 |
73.3% |
£44,936 |
Cash Flow
|
Date Of
Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Net
Cashflow from Operations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net
Cashflow before Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net
Cashflow from Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Increase
in Cash |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Miscellaneous
|
Date Of
Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Contingent
Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£238,882 |
-7.5% |
£258,228 |
6.2% |
£243,107 |
212.2% |
£77,864 |
73.3% |
£44,936 |
|
Number of
Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Auditors |
|
||||||||
|
Auditor
Comments |
The
company is exempt from audit |
||||||||
|
Bankers |
|
||||||||
|
Bank
Branch Code |
|
||||||||
Ratios
|
Date Of
Accounts |
31/03/14 |
31/03/13 |
31/03/12 |
31/03/11 |
31/03/10 |
|
Pre-tax
profit margin % |
- |
- |
- |
- |
- |
|
Current
ratio |
1.56 |
1.38 |
1.14 |
1.28 |
0.99 |
|
Sales/Net
Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
22.50 |
37.20 |
161.10 |
0 |
0 |
|
Equity in
% |
62.90 |
45.70 |
23.30 |
37.70 |
25.90 |
|
Creditor
Days |
- |
- |
- |
- |
- |
|
Debtor
Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid
Test |
1.12 |
1.18 |
0.98 |
1.09 |
0.80 |
|
Return On
Capital Employed % |
- |
- |
- |
- |
- |
|
Return On
Total Assets Employed % |
- |
- |
- |
- |
- |
|
Current
Debt Ratio |
0.36 |
0.81 |
1.68 |
1.65 |
2.85 |
|
Total
Debt Ratio |
0.58 |
1.19 |
3.29 |
1.65 |
2.85 |
|
Stock
Turnover Ratio % |
- |
- |
- |
- |
- |
|
Return on
Net Assets Employed % |
- |
- |
- |
- |
- |
FOREIGN
EXCHANGE RATES
N/a
ADDITIONAL
INFORMATION
Enquiries Trend
|
There
have been 1 enquiries in the last 12 months. |
|
There are
an average of 0 reports taken each month. |
|
3 MONTHS |
6 MONTHS |
9 MONTHS |
|
Enquiries |
0 |
0 |
0 |
Status History
|
No Status
History found |
*Event History
|
Date |
Description |
|
07/06/2014 |
Annual
Returns |
|
27/05/2014 |
New Accounts
Filed |
|
07/06/2013 |
Annual
Returns |
|
28/05/2013 |
New
Accounts Filed |
|
26/09/2012 |
Change in
Reg.Office |
|
26/09/2012 |
Change of
Company Postcode |
|
03/07/2012 |
New
Accounts Filed |
|
04/06/2012 |
Annual
Returns |
|
15/06/2011 |
Annual Returns |
|
09/06/2011 |
New
Accounts Filed |
|
09/06/2011 |
New
Accounts Filed |
|
09/06/2011 |
New
Accounts Filed |
|
09/06/2011 |
New
Accounts Filed |
|
24/06/2010 |
New
Accounts Filed |
|
26/05/2010 |
Annual
Returns |
Previous Company Names
|
No Previous Names found |
NOTES
& COMMENTS
Commentary
|
No exact
match CCJs are recorded against the company. |
|
There is
insufficient data to indicate a change in this company's percentage of sales.
|
|
Net Worth
increased by 3.6% during the latest trading period. |
|
A 24.8%
decline in Total Assets occurred during the latest trading period. |
|
There is
insufficient data to indicate a change in this company's pre-tax profit. |
|
The company
saw an increase in their Cash Balance of 17.9% during the latest trading
period. |
|
The
company is exempt from audit. |
|
No recent
changes in directorship are recorded. |
|
The
company is not part of a group. |
|
The movement in accumulated earnings would indicate that
the company made a profit after tax and other appropriations, including
dividends. |
|
The
company has changed its registered address recently. |
|
The
company was established over 43 years ago. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.27 |
|
|
1 |
Rs. 102.76 |
|
Euro |
1 |
Rs. 82.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
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.