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Report Date : |
12.03.2014 |
IDENTIFICATION DETAILS
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Name : |
B.G.B ENGINEERING LIMITED |
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Formerly Known As : |
RANK ENGINEERING LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.08.2012 |
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Date of Incorporation : |
09.03.1987 |
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Com. Reg. No.: |
02107467 |
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Legal Form : |
Private limited with Share Capital |
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Line of Business : |
Manufacture
of electronic components |
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No. of Employees : |
101 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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) |
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United Kingdom |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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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
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 |
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B.G.B ENGINEERING LIMITED DYSART ROAD GRANTHAM LINCOLNSHIRE NG31 7NB United Kingdom |
Telephone |
+44 014 7657 6280 |
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Fax |
- |
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Website |
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Company Number: Foundation: |
02107467 09/03/1987 |
Status: |
Active - Accounts Filed |
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Comments
Net Worth increased by 31.6% during the latest trading period.
The audit report contains
no adverse comments.
A 1.3% decline in Total Assets occurred
during the latest
trading period.
Pre-tax profits decreased
by 18.2% compared to the previous trading period.
The company saw a decrease
in their Cash Balance of 8.5% 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 not part of a group. The company
was established over 26 years ago.
Legal form
Private limited with Share Capital
Foundation
09/03/1987
Company No.
02107467
Previous Names
Date of Change Previous Name
27/04/1987 RANK ENGINEERING LIMITED
Shareholders
|
Name |
Currency |
Number of shares |
Share type |
Nominal value |
|
ALEXSAVA HOLDINGS LIMITED |
GBP |
100 |
ORDINARY |
1 |
|
ALEXSAVA HOLDINGS LIMITED |
GBP |
100 |
ORDINARY A |
1 |
|
Total Share Capital GBP 200 |
||||
Management
|
Company Secretary |
||
|
Name |
Address: |
Appointment date |
|
Mrs Geraldine Ann Holt |
Waterside 11 Pond Street, Harlaxton, Lincs NG32
1HW |
03/06/1994 |
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Directors |
||||
|
Name |
Address: |
Date of birth |
Nationality |
Appointment date |
|
Mrs Geraldine Ann Holt |
Waterside 11 Pond Street,
Harlaxton, Lincs NG32
1HW |
05/07/1950 |
British |
03/06/1994 |
|
Mr David
Trevor Holt |
Waterside 11 Pond Street,
Harlaxton, Lincs NG32
1HW |
05/03/1946 |
British |
03/06/1994 |
|
Mr David
Charles Gilbert |
15 Dallygate, Great Ponton, Grantham, Lincolnshire NG33 5DP |
08/11/1965 |
British |
11/01/1998 |
|
Mr David
Richard Holt |
Ivydale House 1a Belvoir
Road, Bottesford, Nottinghamshire NG13 0BG |
12/09/1974 |
British |
12/08/2002 |
|
Mrs Geraldine Ann Holt |
Waterside 11 Pond Street,
Harlaxton, Lincs NG32
1HW |
05/07/1950 |
British |
03/06/1994 |
Other Known Addresses
357 Dysart Road, Grantham,
Lincolnshire NG31 7NB
Business Activities
Main
activity
Manufacture
of electronic components
Economic data
Turnover and Employees
Date of Accounts Turnover Employees
31/08/2010 GBP
16,543,685 79
31/08/2011 GBP
20,416,815 95
31/08/2012 GBP
25,268,595 101
Supplementary
data
Banks
|
Bank Name |
Bank Branch Sort Code |
|
LLOYDS BANK PLC |
77-71-27 |
Auditor
Auditor name
MOORE STEPHENS
Events
Company history
Date Action
03/02/2009 New Accounts Filed
03/04/2009 Annual Returns
17/04/2010 Annual Returns
26/05/2010 New Accounts
Filed
26/05/2010 New Accounts
Filed
02/04/2011 Annual Returns
28/05/2011 New Accounts
Filed
11/04/2012 Annual Returns
29/05/2012 New Accounts
Filed
29/05/2012 New Accounts
Filed
30/11/2012 New Accounts
Filed
30/11/2012 New Accounts
Filed
15/04/2013 Annual Returns
Profit & Loss
|
|
52 GBP Group: No |
31/08/2012 52 GBP Group: No |
31/08/2011 52 GBP Group: No |
31/08/2010 52 GBP Group: No |
|
Turnover |
18,011,914 |
25,268,595 |
20,416,815 |
16,543,685 |
|
Export |
- |
- |
- |
- |
|
Cost of Sales |
16,002,854 |
21,591,481 |
16,160,487 |
10,985,011 |
|
Gross Profit |
2,009,060 |
3,677,114 |
4,256,328 |
5,558,674 |
|
Wages And Salaries |
2,673,601 |
3,124,882 |
2,890,987 |
3,916,228 |
|
Directors Emoluments |
461,998 |
421,638 |
380,714 |
1,592,449 |
|
Operating Profit |
1,370,238 |
3,085,556 |
3,771,953 |
2,545,527 |
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Depreciation |
186,816 |
253,829 |
232,392 |
255,060 |
|
Audit Fees |
17,254 |
15,600 |
15,750 |
15,250 |
|
Interests Payments |
0 |
21,346 |
32,307 |
10,113 |
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Pre Tax Profit |
1,448,577 |
3,082,184 |
3,765,768 |
2,542,922 |
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Taxation |
-338,062 |
-718,753 |
-1,061,647 |
-611,411 |
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Profit After Tax |
1,110,515 |
2,363,431 |
2,704,121 |
1,931,511 |
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Dividends Payable |
0 |
120,000 |
0 |
500,000 |
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Retained Profit |
1,110,515 |
2,243,431 |
2,704,121 |
1,431,511 |
Balance Sheet
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52 GBP Group: No |
31/08/2012 52 GBP Group: No |
31/08/2011 52 GBP Group: No |
31/08/2010 52 GBP Group: No |
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Tangible Assets |
2,916,278 |
2,408,222 |
1,624,968 |
1,858,094 |
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Intangible Assets |
7,146 |
7,860 |
8,574 |
9,288 |
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Total Fixed Assets |
2,923,424 |
2,416,082 |
1,633,542 |
1,867,382 |
|
Stock |
1,117,468 |
1,283,024 |
1,369,771 |
1,046,468 |
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Trade Debtors |
3,403,860 |
5,276,742 |
6,311,646 |
5,377,664 |
|
Cash |
3,832,650 |
2,543,728 |
2,780,325 |
720,280 |
|
Other Debtors |
913,286 |
596,117 |
178,200 |
247,867 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total Current Assets |
9,267,264 |
9,699,611 |
10,639,942 |
7,392,279 |
|
Trade Creditors |
719,414 |
1,040,552 |
2,589,476 |
1,212,061 |
|
Bank Loans and Overdraft |
0 |
0 |
0 |
0 |
|
Other Short Term Finance |
9,240 |
111,125 |
515,602 |
508,034 |
|
Miscellaneous Current Liabilities |
878,906 |
1,516,273 |
1,910,054 |
2,993,984 |
|
Total Current Liabilities |
1,607,560 |
2,667,950 |
5,015,132 |
4,714,079 |
|
Bank Loans and Overdrafts LTL |
118,698 |
93,828 |
147,868 |
139,219 |
|
Other Long Term Finance |
0 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
118,698 |
93,828 |
147,868 |
139,219 |
Capital & Reserve
|
|
52 GBP Group: No |
31/08/2012 52 GBP Group: No |
31/08/2011 52 GBP Group: No |
31/08/2010 52 GBP Group: No |
|
Called Up Share
Capital |
200 |
200 |
200 |
200 |
|
P and L Account Reserve |
8,614,230 |
7,503,715 |
5,260,284 |
2,556,163 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
1,850,000 |
1,850,000 |
1,850,000 |
1,850,000 |
|
Shareholders Funds |
10,464,430 |
9,353,915 |
7,110,484 |
4,406,363 |
Other Financial Items
|
|
52 GBP Group: No |
31/08/2012 52 GBP Group: No |
31/08/2011 52 GBP Group: No |
31/08/2010 52 GBP Group: No |
|
Net Worth |
10,457,284 |
9,346,055 |
7,101,910 |
4,397,075 |
|
Working Capital |
7,659,704 |
7,031,661 |
5,624,810 |
2,678,200 |
|
Total Assets |
12,190,688 |
12,115,693 |
12,273,484 |
9,259,661 |
|
Total Liabilities |
1,726,258 |
2,761,778 |
5,163,000 |
4,853,298 |
|
Net Assets |
10,464,430 |
9,353,915 |
7,110,484 |
4,406,363 |
Cash Flow
|
|
52 GBP Group: No |
31/08/2012 52 GBP Group: No |
31/08/2011 52 GBP Group: No |
31/08/2010 52 GBP Group: No |
|
Net Cash Flow from
Operations |
2,221,670 |
1,325,244 |
2,807,840 |
-1,399,978 |
|
Net Cash Flow before Financing |
1,288,922 |
-236,597 |
2,060,045 |
-2,079,264 |
|
Net Cash Flow from
Financing |
0 |
0 |
0 |
0 |
|
Increase in Cash |
1,288,922 |
-236,597 |
2,060,045 |
-2,079,264 |
Miscellaneous
|
|
52 GBP Group: No |
31/08/2012 52 GBP Group: No |
31/08/2011 52 GBP Group: No |
31/08/2010 52 GBP Group: No |
|
Capital Employed |
10,583,128 |
9,447,743 |
7,258,352 |
4,545,582 |
Financial Ratios
|
|
31/08/2013 |
31/08/2012 |
31/08/2011 |
31/08/2010 |
|
Pre Tax Profit
Margin |
8.04 % |
12.20 % |
18.44 % |
15.37 % |
|
Current Ration |
5.76 |
3.64 |
2.12 |
1.57 |
|
Sales or Net Working
Capital |
2.35 |
3.59 |
3.63 |
6.18 |
|
Gearing |
1.13 % |
1.00 % |
2.08 % |
3.16 % |
|
Equity |
85.89 % |
77.26 % |
57.97 % |
47.63 % |
|
Creditor Days |
14.53 |
14.98 |
46.16 |
26.66 |
|
Debtor Days |
68.78 |
76.01 |
112.52 |
118.32 |
|
Liquidity or Acid test |
5.06 |
3.15 |
1.84 |
1.34 |
|
Return on Capital
Employed |
13.68 % |
32.62 % |
51.88 % |
55.94 % |
|
Return on Total Assets Employed |
11.88 % |
25.43 % |
30.68 % |
27.46 % |
|
Current Debt Ratio |
0.15 % |
0.28 % |
0.70 % |
1.06 % |
|
Total Debt Ratio |
0.16 % |
0.29 % |
0.72 % |
1.10 % |
|
Stock Turnover Ratio |
6.20 % |
5.07 % |
6.70 % |
6.32 % |
|
Return on Net
Assets Employed |
13.84 % |
32.95 % |
52.96 % |
57.71 % |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.70 |
|
|
1 |
Rs.100.97 |
|
Euro |
1 |
Rs.84.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.