|
Report Date : |
30.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SYRRIS LIMITED |
|
|
|
|
Formerly Known As : |
BLACK TRACE LIMITED |
|
|
|
|
Registered Office : |
27 Jarman Way Royston, Hertfordshire SG8 5HW |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
30.07.2009 |
|
|
|
|
Com. Reg. No.: |
06976516 |
|
|
|
|
Legal Form : |
Private Limited with Shares Capital |
|
|
|
|
Line of Business : |
Manufacture of Other Special-Purpose Machinery N.E.C. |
|
|
|
|
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 |
|
|
|
|
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 |
SYRRIS LIMITED
06976516
27 JARMAN WAY
ROYSTON
HERTFORDSHIRE
SG8 5HW
Website Address http://www.syrris.com
Telephone Number 01763242555
27-29 Jarman Way
Royston
Hertfordshire
SG8 5HW
TPS Yes
FPS No
Incorporation Date 30/07/2009
Previous Name BLACK TRACE
LIMITED
Type Private limited
with Share Capital
FTSE Index -
Date of Change 15/01/2013
Filing Date of Accounts 27/03/2014
Currency GBP
Share Capital £10
SIC07 28990
SIC07 Description MANUFACTURE OF
OTHER SPECIAL-PURPOSE MACHINERY N.E.C.
Principal Activity
The povision of
research and development services, specialising in engineeing software and microfluidics.
No exact match CCJs are recorded against the company.
Sales in the latest trading period increased 999.9% on the previous
trading period.
Net Worth increased by 999.9% during the latest trading period.
A 999.9% growth in Total Assets occurred during the latest trading
period.
Pre-tax profits increased by 999.9% compared to the previous trading
period.
The company saw an increase in their Cash Balance of 999.9% during the
latest trading period.
The company is exempt from audit.
No recent changes in directorship are recorded.
The company is part of a group.
The company has changed its registered name recently.
The company was established over 4 years ago.
Total Number of Exact CCJs - 0 Total Value of Exact CCJs -
Total Number of Possible CCJs - 0 Total Value of Possible CCJs -
Total Number of Satisfied CCJs - 0 Total Value of Satisfied CCJs -
Total Number of Writs - -
Total
Current Directors 3
Total
Current Secretaries 1
Total
Previous Directors / Company 1
Secretaries
|
Name |
Mark
Gilligan Date
of Birth |
28/10/1970 |
|
Officers Title |
Mr
Nationality |
British |
|
Present
Appointments |
5
Function |
Director |
|
Appointment Date |
30/07/2009 |
|
|
Address |
9
Old North Road, Royston, Hertfordshire, SG8 5DS |
|
|
Other Actions |
View
Director Report View
Consumer Report |
|
|
Name |
Andrew
Mark Lovatt Date
of Birth |
17/05/1971 |
|
Officers Title |
Dr
Nationality |
British |
|
Present
Appointments |
5
Function |
Director |
|
Appointment Date |
27/11/2009 |
|
|
Address |
27
Jarman Way, Royston, Hertfordshire, SG8 5HW |
|
|
Other Actions |
View
Director Report View
Consumer Report |
|
|
Name |
Michael
Carl Hawes Date
of Birth |
30/11/1975 |
|
Officers Title |
Mr
Nationality |
British |
|
Present
Appointments |
1
Function |
Director |
|
Appointment Date |
01/01/2013 |
|
|
Address |
23
Hebing End, Benington, Stevenage, Hertfordshire, SG2 7DD |
|
|
Other Actions |
View
Director Report View
Consumer Report |
|
|
Name |
Andrew
Lovatt Date
of Birth |
- |
|
Officers Title |
Dr
Nationality |
|
|
Present
Appointments |
1
Function |
Company Secretary |
|
Appointment Date |
24/09/2012 |
|
|
Address |
27
Jarman Way, Royston, Hertfordshire, SG8 5HW |
|
Name Currency Share Count Share
Type Nominal Value
BLACKTRACE
HOLDINGS LIMITED GBP 1,000 ORDINARY 0.01
Unable to report
percentage holdings as filed Shareholder listing is not full.
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) - |
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) - |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) - |
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) - |
|
Turnover |
£4,037,834 |
999.9% |
£339,701 |
-16.6% |
£407,229 |
10.2% |
£369,513 |
-- |
|
Export |
£3,646,164 |
- |
- |
- |
- |
- |
- |
-- |
|
Cost of Sales |
£2,130,466 |
999.9% |
£103,615 |
-52.8% |
£219,556 |
22.1% |
£179,761 |
-- |
|
Gross Profit |
£1,907,368 |
707.9% |
£236,086 |
25.8% |
£187,673 |
-1.1% |
£189,752 |
-- |
|
Wages &
Salaries |
- |
- |
- |
- |
- |
- |
- |
-- |
|
Directors
Emoluments |
£162,204 |
47.6% |
£109,885 |
47.1% |
£74,678 |
-24.5% |
£98,872 |
-- |
|
Operating Profit |
£437,040 |
999.9% |
-£37,050 |
- |
- |
- |
-£42,143 |
-- |
|
Depreciation |
£19,658 |
999.9% |
£1,109 |
580.4% |
£163 |
- |
- |
-- |
|
Audit Fees |
- |
-100% |
£4,900 |
14.2% |
£4,290 |
-16.7% |
£5,150 |
- - |
|
Interest Payments |
£4,548 |
- |
- |
- |
- |
- |
£557 |
- - |
|
Pre Tax Profit |
£1,759,709 |
999.9% |
-£37,050 |
71.4% |
-£129,406 |
-203.1% |
-£42,700 |
- - |
|
Taxation |
-£1,276 |
-110% |
£12,707 |
-32% |
£18,693 |
468% |
£3,291 |
- - |
|
Profit After Tax |
£1,758,433 |
999.9% |
-£24,343 |
78% |
-£110,713 |
-180.9% |
-£39,409 |
- - |
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- - |
|
Retained Profit |
£1,758,433 |
999.9% |
-£24,343 |
78% |
-£110,713 |
-180.9% |
-£39,409 |
- - |
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
|
Tangible Assets |
£90,120 |
-48.7% |
£175,681 |
1.3% |
£173,467 |
0.4% |
£172,790 |
- - |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- - |
|
Total Fixed Assets |
£90,120 |
-48.7% |
£175,681 |
1.3% |
£173,467 |
0.4% |
£172,79 |
- - |
|
Stock |
£803,831 |
- |
0 |
- |
0 |
- |
0 |
-
|
|
Trade Debtors |
|
£162,232 |
- |
0 |
- 0 |
- |
0 |
-
- |
|
Cash |
|
£70,064 |
999.9% |
£585 |
53.9% £380 |
- |
0 |
-
- |
|
Other Debtors |
|
£1,346,581 |
999.9% |
£33,685 |
-92.1% £426,854 168.7% |
£158,832 |
-
- |
|
|
Miscellaneous Current Assets |
|
0 |
- |
0 |
- 0 |
- |
0 |
-
- |
|
Total Current Assets |
|
£2,382,708 |
999.9% |
£34,270 |
-92% £427,234 169% |
£158,832 |
- - |
|
|
Trade Creditors |
|
£372,160 |
999.9% |
£831 |
74.6% £476 |
-97.3% |
£17,828 |
-
- |
|
Bank Loans & Overdrafts |
|
0 |
-100% |
£68,665 |
-86.9% £524,534 395.2% |
£105,933 |
-
- |
|
|
Other Short Term Finance |
|
£8,379 |
-91.6% |
£100,030 |
538.2% £15,673 |
24.5% |
£12,588 |
-
- |
|
Miscellaneous Current Liabilities |
|
£300,593 |
614% |
£42,100 |
12.7% £37,350 |
-39.7% |
£61,892 |
-
- |
|
Total Current Liabilities |
|
£681,132 |
221.9% |
£211,626 |
-63.4% £578,033 191.6% |
£198,241 |
- - |
|
|
Bank Loans & Overdrafts and LTL |
|
£34,938 |
^9.1% |
£68,665 |
-86.9% £524,534 395.2% |
£105,933 |
-
- |
|
|
Other Long Term Finance |
|
£12,568 |
- |
0 |
- 0 |
- |
0 |
-
- |
|
Total Long Term Liabilities |
|
£34,938 |
- |
0 |
-
0 |
- |
0 |
- - |
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%)
- |
|
||||||||
|
Called Up Share Capital |
£10 |
- |
£10 |
- |
£10 |
- |
£10 |
-- |
|||||||||
|
P& L Account
Reserve |
£1,583,968 |
999.9% -£174,465 -16.2% |
-£150,122 |
-280.9% |
-£39,409 |
-
- |
|||||||||||
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
-- |
|||||||||
|
Sundry Reserves |
£172,780 |
- |
£172,780 |
- |
£172,780 |
- |
£172,780 |
-
- |
|||||||||
|
Shareholder Funds |
£1,756,758 |
999.9%
-£1,675 |
-107.4%
£22,668 |
-83% |
£133,381 |
- - |
|||||||||||
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%)
- |
|
Net Worth |
£1,756,758 |
999.9% |
-£1,675 |
-107.4% |
£22,668 |
-83% |
£133,381 |
- - |
|
Working Capital |
£1,701,576 |
999.9% |
-£177,356 |
-17.6% |
-£150,799 |
-282.7% |
-£39,409 |
- - |
|
Total Assets |
£2,472,828 |
999.9% |
£209,951 |
-65% |
£600,701 |
81.1% |
£331,622 |
- - |
|
Total Liabilities |
£716,070 |
238.4% |
£211,626 |
-63.4% |
£578,033 |
191.6% |
£198,241 |
- - |
|
Net Assets |
£1,756,758 |
999.9% |
-£1,675 |
-107.4% |
£22,668 |
-83% |
£133,381 |
- - |
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11
(%) |
31/12/10 |
(%)
|
- |
|
Net Cashflow from Operations |
- |
- |
- |
- |
-- |
- |
- |
-- |
|
Net Cashflow before Financing |
- |
- |
- |
- |
-- |
- |
- |
-- |
|
Net Cashflow from Financing |
- |
- |
- |
- |
-- |
- |
- |
- |
|
Increase in Cash |
- |
- |
- |
- |
-- |
- |
- |
- |
|
Date Of
Accounts 31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%)
- |
|
Contingent
Liability NO |
|
NO |
|
NO |
|
NO |
-
- |
|
Capital
Employed £1,791,696 |
999.9% |
-£1,675 |
-107.4% |
£22,668 |
-83% |
£133,381 |
-
- |
|
Number of
Employees - |
|
|
|
|
|
|
|
|
Auditors |
-- |
|
Auditor Comments |
The
company is exempt from audit |
|
Bankers |
HSBC
BANK PLC |
|
Bank Branch Code |
40-16-57 |
|
Date Of Accounts |
|
31/12/13 |
31/12/12 |
31/12/11 |
31/12/10 - |
|
Pre-tax profit margin % |
|
43.58 |
-10.91 |
-31.78 |
-11.56 - |
|
Current ratio |
|
3.50 |
0.16 |
0.74 |
0.80 - |
|
Sales/Net Working Capital |
|
2.37 |
-1.92 |
-2.70 |
-9.38 - |
|
Gearing % |
|
2 |
4099.40 |
2314 |
79.40 - |
|
Equity in % |
|
71 |
-0.80 |
3.80 |
40.20 - |
|
Creditor Days |
|
33.54 |
0.89 |
0.42 |
17.56 - |
|
Debtor Days |
|
14.62 |
- |
- |
-
- |
|
Liquidity/Acid Test |
|
2.31 |
0.16 |
0.73 |
0.80 - |
|
Return On Capital Employed % |
|
98.21 |
2211.94 |
-570.87 |
-32.01 - |
|
Return On Total Assets Employed % |
|
71.16 |
-17.64 |
-21.54 |
-12.87 - |
|
Current Debt Ratio |
|
0.38 |
-126.34 |
25.49 |
1.48 - |
|
Total Debt Ratio |
|
0.40 |
-126.34 |
25.49 |
1.48 - |
|
Stock Turnover Ratio % |
|
19.90 |
- |
- |
-
- |
|
Return on Net Assets Employed % |
|
100.16 |
2211.94 |
-570.87 |
-32.01 - |
No Status History found
|
Date |
Description |
|
07/04/2014 |
New Accounts
Filed |
|
07/04/2014 |
New Accounts
Filed |
|
13/08/2013 |
Annual Returns |
|
17/04/2013 |
New Accounts
Filed |
|
17/04/2013 |
New Accounts
Filed |
|
29/01/2013 |
New Board Member MrM.C. Hawes appointed |
|
17/01/2013 |
Change of Name |
|
26/11/2012 |
Mr N.A. Tait has resigned as company secretary |
|
26/11/2012 |
New Company Secretary Dr A. Lovatt appointed |
|
14/08/2012 |
Annual Returns |
|
13/04/2012 |
New Accounts
Filed |
|
13/04/2012 |
New Accounts
Filed |
|
29/08/2011 |
Annual Returns |
|
29/03/2011 |
New Accounts
Filed |
|
25/08/2010 |
Annual Returns |
Date Previous Name
15/01/2013 BLACK TRACE LIMITED
|
Group |
5 companies |
|
Linkages |
|
|
Countries |
|
Holding Company |
BLACKTRACE HOLDINGS LIMITED |
|
Ownership Status |
Wholly Owned |
|
Ultimate Holding
Company |
BLACKTRACE HOLDINGS LIMITED |
|
Company Name |
Registered
Number |
Latest Key
Financials |
Consol. Accounts |
Turnover |
|
|
5LACKTRACE
HOLDINGS LIMITED |
04257809 |
31.12.2013 |
Y |
£7,031,379 |
|
|
GLASS SOLUTIONS
LTD |
03904816 |
31.12.2013 |
N |
£651,640 |
|
|
LABGLASS LTD |
06395674 |
31.12.2013 |
N |
- |
|
|
SYRRIS LIMITED |
06976516 |
31.12.2013 |
N |
£4,037,834 |
|
|
THE DOLOMITE
CENTRE... |
05640084 |
31.12.2013 |
N |
£1,818,242 |
|
|
Group |
5 companies |
|
Linkages |
|
|
Countries |
|
No CCJs found |
|
There are no possible CCJ details |
|
No writs found |
Mortgage Type:
Date Charge Created: 30/09/13
Date Charge Registered: 01/10/13
Date Charge Satisfied: -
Status: OUTSTANDING
Person(s) Entitled: HSBC BANK PLC;
Amount Secured:
Details: N/ANOTIFICATION OF
ADDITION TO OR AMENDMENT OF CHARGE.
Mortgage Type:
Date Charge Created: 06/08/13
Date Charge Registered: 07/08/13
Date Charge Satisfied: -
Status: OUTSTANDING
Person(s) Entitled: HSBC INVOICE
FINANCE (UK) LTD;
Amount Secured:
Details: CONTAINS FIXED CHARGE.CONTAINS
FLOATINGCHARGE.FLOATING CHARGE COVERS
ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.NOTIFICATION OF ADDITION TO OR
AMENDMENT OF CHARGE.
Mortgage Type: DEBENTURE
Date Charge Created: 16/03/10
Date Charge Registered: 18/03/10
Date Charge Satisfied: -
Status: OUTSTANDING
Person(s) Entitled: HSBC 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,
BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY
Name Current
Directorships Previous
Directorships
Nicholas Alexander James Tait 1
7
|
Average Invoice
Value |
£632.05 |
|
Invoices
available |
1 |
|
Paid |
0 |
|
Outstanding |
1 |
|
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 |
0 |
0 |
0 |
0 |
0 |
|
Outstanding |
0 |
0 |
0 |
0 |
1 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.84 |
|
|
1 |
Rs.98.41 |
|
Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.