MIRA
INFORM REPORT
|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
AZTEC (EUROPE) LIMITED |
|
|
|
|
Formerly Known As : |
SALTIRE CONSULTANTS LIMITED |
|
|
|
|
Registered Office : |
Q9 Flemington Road Queensway Industrial Estate Glenrothes
KY7 5QF |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
30.10.1998 |
|
|
|
|
Com. Reg. No.: |
SC190703 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Manufacture of other electrical equipment |
|
|
|
|
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 |
Company name and address
Company
Name: AZTEC (EUROPE) LIMITED
Company
No: SC190703
Registered
Address: Q9 FLEMINGTON ROAD
QUEENSWAY INDUSTRIAL ESTATE
GLENROTHES
KY7 5QF
Company information
Registered Address Q9
FLEMINGTON ROAD
QUEENSWAY INDUSTRIAL
ESTATE
GLENROTHES
KY7 5QF
Trading Address Q9
Flemington Road
Queensway Industrial Estate
Glenrothes
Fife
KY7 5QF
Website Address
http://www.aztec-europe.co.uk
FPS No
Incorporation Date 30/10/1998
Previous Name SALTIRE
CONSULTANTS LIMITED
Type Private
limited with Share Capital
Date of Change 01/02/2005
Filing Date of Accounts 07/05/2014
Currency GBP
Share Capital £1,000
SIC07 27900
SIC07 Description MANUFACTURE
OF OTHER ELECTRICAL EQUIPMENT
Commentary
|
No exact
match CCJs are recorded against the company. |
|
There has
been no significant change in the company's credit rating. |
|
There has
been no significant change in the company's credit limit. |
|
There is
insufficient data to indicate a change in this company's percentage of sales.
|
|
Net Worth
increased by 336.6% during the latest trading period. |
|
A 32.2%
growth 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 72.1% during the latest trading
period. |
|
The audit
report contains no adverse comments. |
|
The company
has undergone recent changes in its directorships. |
|
The company
is 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
was established over 15 years ago. |
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 - |
- |
Total
Current Directors |
2 |
|
Total Current
Secretaries |
1 |
|
Total
Previous Directors / Company Secretaries |
4 |
Current Directors
|
Name |
Date of
Birth |
20/07/1954 |
|
|
Officers Title |
Mr |
Nationality |
Czech |
|
Present
Appointments |
2 |
Function |
Director |
|
Appointment
Date |
26/11/1998 |
||
|
Address |
Kalvadova
474, Jesenik, 79001 |
||
|
Other
Actions |
|||
|
Name |
Date of
Birth |
01/09/1966 |
|
|
Officers
Title |
Mr |
Nationality |
British |
|
Present
Appointments |
2 |
Function |
Director |
|
Appointment
Date |
01/01/2011 |
||
|
Address |
Q9
Flemington Road, Queensway Industrial Estate, Glenrothes, Fife, KY7 5QF |
||
|
Other
Actions |
|||
Current Company Secretary
|
Name |
Date of
Birth |
06/06/1956 |
|
|
Officers
Title |
Mr |
Nationality |
British |
|
Present
Appointments |
13 |
Function |
Company
Secretary |
|
Appointment
Date |
28/01/2005 |
||
|
Address |
4 Dronachy
Road, Kirkcaldy, Fife, KY2 5QL |
||
Top 20 Shareholders
|
Currency |
Share Count |
Share Type |
Nominal
Value |
% of Total
Share Count |
|
|
FENIX
HOLDING AS |
GBP |
550 |
ORDINARY |
1 |
55 |
|
FLEXEL
INTERNATIONAL LTD |
GBP |
450 |
ORDINARY |
1 |
45 |
Profit & Loss
|
Date Of
Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
31 |
|
|
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 |
£2,981 |
8.3% |
£2,752 |
2.6% |
£2,683 |
5.5% |
£2,544 |
80.8% |
£1,407 |
|
|
Audit Fees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Interest
Payments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Pre Tax
Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Taxation |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Profit
After Tax |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Dividends
Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Retained
Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
%20LIMITED%20-%20268745%2031-May-2014_files/image002.gif){kind=small}
Balance Sheet
|
Date Of
Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
|
|
Tangible
Assets |
£36,451 |
7% |
£34,067 |
-5.9% |
£36,214 |
-6.9% |
£38,897 |
2.1% |
£38,091 |
|
|
Intangible
Assets |
£233,324 |
-10.1% |
£259,393 |
999.9% |
£623 |
-57% |
£1,448 |
-33.1% |
£2,163 |
|
|
Total Fixed
Assets |
£269,775 |
-8.1% |
£293,460 |
696.6% |
£36,837 |
-8.7% |
£40,345 |
0.2% |
£40,254 |
|
|
Stock |
£95,575 |
50.2% |
£63,613 |
-34.1% |
£96,499 |
28.9% |
£74,865 |
-28.9% |
£105,318 |
|
|
Trade
Debtors |
£177,390 |
99.9% |
£88,750 |
-5.9% |
£94,361 |
-15.4% |
£111,558 |
23.8% |
£90,088 |
|
|
Cash |
£201,543 |
72.1% |
£117,131 |
626.6% |
£16,120 |
16.2% |
£13,872 |
999.9% |
£311 |
|
|
Other
Debtors |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Miscellaneous
Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total
Current Assets |
£474,508 |
76.1% |
£269,494 |
30.2% |
£206,980 |
3.3% |
£200,295 |
2.3% |
£195,717 |
|
|
Trade
Creditors |
£130,801 |
-39.9% |
£217,730 |
352.7% |
£48,101 |
-25% |
£64,118 |
-33.5% |
£96,445 |
|
|
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 |
£130,801 |
-39.9% |
£217,730 |
352.7% |
£48,101 |
-25% |
£64,118 |
-33.5% |
£96,445 |
|
|
Bank Loans
& Overdrafts and LTL |
£5,413 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Long
Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Long
Term Liabilities |
£5,413 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
Capital & Reserves
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
|
|
Called Up Share
Capital |
£1,000 |
80.2% |
£555 |
400% |
£111 |
- |
£111 |
- |
£111 |
|
|
P & L Account
Reserve |
£337,969 |
68.9% |
£200,124 |
14% |
£175,616 |
12.3% |
£156,422 |
31% |
£119,426 |
|
|
Revaluation
Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Sundry Reserves |
£269,100 |
86.2% |
£144,545 |
623.1% |
£19,989 |
- |
£19,989 |
- |
£19,989 |
|
|
Shareholder Funds |
£608,069 |
76.1% |
£345,224 |
76.4% |
£195,716 |
10.9% |
£176,522 |
26.5% |
£139,526 |
Other Financial Items
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
|
|
Net Worth |
£374,745 |
336.6% |
£85,831 |
-56% |
£195,093 |
11.4% |
£175,074 |
27.5% |
£137,363 |
|
|
Working Capital |
£343,707 |
564% |
£51,764 |
-67.4% |
£158,879 |
16.7% |
£136,177 |
37.2% |
£99,272 |
|
|
Total Assets |
£744,283 |
32.2% |
£562,954 |
130.9% |
£243,817 |
1.3% |
£240,640 |
2% |
£235,971 |
|
|
Total Liabilities |
£136,214 |
-37.4% |
£217,730 |
352.7% |
£48,101 |
-25% |
£64,118 |
-33.5% |
£96,445 |
|
|
Net Assets |
£608,069 |
76.1% |
£345,224 |
76.4% |
£195,716 |
10.9% |
£176,522 |
26.5% |
£139,526 |
Miscellaneous
|
Date Of
Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
|
Contingent
Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
|
|
Capital
Employed |
£613,482 |
77.7% |
£345,224 |
76.4% |
£195,716 |
10.9% |
£176,522 |
26.5% |
£139,526 |
|
|
Number of
Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Auditors |
MAZARS LLP |
|||||||||
|
Auditor
Comments |
The audit
report contains no adverse comments |
|||||||||
|
Bankers |
||||||||||
|
Bank Branch
Code |
||||||||||
Ratios
|
Date Of
Accounts |
31/12/13 |
31/12/12 |
31/12/11 |
31/12/10 |
31/12/09 |
|
|
|
Pre-tax
profit margin % |
- |
- |
- |
- |
- |
|
|
Current
ratio |
3.63 |
1.24 |
4.30 |
3.12 |
2.03 |
|
|
Sales/Net
Working Capital |
- |
- |
- |
- |
- |
|
|
Gearing % |
0.90 |
0 |
0 |
0 |
0 |
|
|
Equity in % |
119 |
113.70 |
80.50 |
73.80 |
59.70 |
|
|
Creditor
Days |
- |
- |
- |
- |
- |
|
|
Debtor Days |
- |
- |
- |
- |
- |
|
|
Liquidity/Acid
Test |
2.89 |
0.94 |
2.29 |
1.95 |
0.93 |
|
|
Return On
Capital Employed % |
- |
- |
- |
- |
- |
|
|
Return On
Total Assets Employed % |
- |
- |
- |
- |
- |
|
|
Current
Debt Ratio |
0.21 |
0.63 |
0.24 |
0.36 |
0.69 |
|
|
Total Debt
Ratio |
0.22 |
0.63 |
0.24 |
0.36 |
0.69 |
|
|
Stock
Turnover Ratio % |
- |
- |
- |
- |
- |
|
|
Return on
Net Assets Employed % |
- |
- |
- |
- |
- |
Status History
|
No Status
History found |
Event History
|
Date |
Description |
|
14/05/2014 |
New
Accounts Filed |
|
06/01/2014 |
Mr T.G.
Graham has left the board |
|
02/11/2013 |
Annual
Returns |
|
30/04/2013 |
New
Accounts Filed |
|
03/11/2012 |
Annual
Returns |
|
04/05/2012 |
New
Accounts Filed |
|
07/11/2011 |
Annual
Returns |
|
05/05/2011 |
New
Accounts Filed |
|
07/02/2011 |
New Board
Member Mr G.J. Graham appointed |
|
30/10/2010 |
Annual
Returns |
|
21/05/2010 |
New
Accounts Filed |
|
21/12/2009 |
Annual
Returns |
|
09/11/2009 |
Annual
Returns |
|
06/11/2009 |
Change in
Reg.Office |
|
06/11/2009 |
Change of
Company Postcode |
Previous Company Names
|
Date |
Previous
Name |
|
01/02/2005 |
SALTIRE
CONSULTANTS LIMITED |
|
04/12/1998 |
SALTIRE
NUMBER EIGHTY FOUR LIMITED |
Statistics
|
Group |
6 companies
|
|
Linkages |
|
|
Countries |
Summary
|
Holding
Company |
- |
|
Ownership
Status |
Intermediately
Owned |
|
Ultimate
Holding Company |
FENIX
HOLDING AS |
Group structure
|
Company Name |
Registered Number |
Latest Key Financials |
Consol. Accounts |
Turnover |
|
|
FENIX
HOLDING AS |
|
N/A |
- |
- |
|
|
|
SC190703 |
31.12.2013 |
N |
||
|
|
SC152569 |
31.12.2012 |
N |
||
|
FENIX
GROUP AS |
|
N/A |
- |
- |
|
|
|
SC145068 |
31.12.2013 |
N |
||
|
FENIX
TRADING SRO |
|
N/A |
- |
- |
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
|
Mortgage
Type: |
STANDARD
SECURITY |
||
|
Date Charge
Created: |
29/07/05 |
||
|
Date Charge
Registered: |
15/08/05 |
||
|
Date Charge
Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s) Entitled: |
THE
GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND |
||
|
Amount
Secured: |
ALL SUMS
DUE OR TO BECOME DUE |
||
|
Details: |
TENANTS
INTEREST IN A LEASE UNDER TITLENUMBER FFE27119 |
||
|
Mortgage
Type: |
FLOATING
CHARGE |
||
|
Date Charge
Created: |
19/01/05 |
||
|
Date Charge
Registered: |
22/01/05 |
||
|
Date Charge
Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s)
Entitled: |
THE
GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND |
||
|
Amount
Secured: |
ALL SUMS
DUE OR TO BECOME DUE |
||
|
Details: |
UNDERTAKING
AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY INCLUDING
UNCALLED CAPITAL |
||
Creditor Details
|
Total
Number |
Total
Value |
|
|
Trade
Creditors |
0 |
- |
|
No Creditor
Data |
||
Trade Debtors / Bad Debt Detail
|
Total
Number of Documented Trade |
Total
Value of Documented Trade |
|
|||
|
Trade
Debtors |
1 |
£1,038 |
|
||
|
Company
Name |
Amount |
Statement
Date |
|||
|
£1,038 |
23/02/2012 |
||||
Previous Director/Company Secretaries
|
Name |
Current
Directorships |
Previous
Directorships |
|
8 |
1 |
|
|
225 |
173 |
|
|
3 |
46 |
|
|
4 |
30 |
|
Average
Invoice Value |
£198.58 |
|
Invoices
available |
2 |
|
Paid |
2 |
|
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 |
1 |
0 |
0 |
|
Outstanding |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.