MIRA INFORM REPORT

 

 

Report Date :

28.11.2014

 

IDENTIFICATION DETAILS

 

Name :

HAMPSHIRE COMMODITIES LIMITED

 

 

Registered Office :

Wey Court West, Union Road, Farnham Surrey, GU9 7PT

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

11.08.1993

 

 

Com. Reg. No.:

02844285

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

·         Commodities Trading

·         Other Service Activities

 

 

No of Employees :

6

 

 

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 s

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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.

 

Source : CIA

 

 

 

 

Company name & address

 

HAMPSHIRE COMMODITIES LIMITED

Wey Court West, Union Road

Farnham Surrey

GU9 7PT

United Kingdom

Telephone +44 (0)1252 613 058

Fax +44 (0)1252 616 374

Website www.hampshire-commodities.co.uk

 

 

Comments

 

No exact match CCJs are recorded against the company. Net Worth increased by 10.2% during the latest trading period. A 3.5% growth in Total Assets occurred during the latest trading period. The audit report contains no adverse comments. The company’s credit rating has dropped from 85 to 53 but the company still indicates good creditworthiness. Sales in the latest trading period decreased 1.4% on the previous trading period. Pre-tax profits decreased by 16.5% compared to the previous trading period. The company saw a decrease in their Cash Balance of 43.1% during the latest trading period. There has been no significant change in the company’s credit limit. No recent changes in directorship are recorded. The company is not part of a group. The company was established over 21 years ago.

 

 

Legal form

 

Private limited with Share Capital

 

 

Foundation

 

11/08/1993

 

 

Company No.

 

02844285

 

 

Shareholders

 

Name

Currency

Number of shares

Share type

Nominal value

COLIN JEFFERY NEWMAN

GBP

10,000

ORDINARY

1

Total Share Capital

 

 

 

GBP 10,000

 

 

Management

 

Directors

Name

Address:                                      Date of Nationality

birth

Appointment date

Mr Colin Jeffery Newman

7a Dinorben Avenue, Fleet, Hampshire    21/10/1943 British GU13 9SG

11/08/1993

 

Company Secretary

Name

Address:

Appointment date

JUPP CASTLE LIMITED

17 Finns Business Park, Bowenhurst Lane, Crondall Farnham, Surrey GU10 5HP

01/05/2006

 

 

Other Known Addresses

 

121 Albert Street, Fleet, Hampshire GU51 3SR

Wey Court West, Union Road, Farnham, Surrey GU9 7PT

 

 

Business activities

 

Main Activity

 

Principal Activity           Commodities trading.

SIC03                           Other service activities

SIC07                           Other service activities n.e.c.

 

 

Economic data

 

 

Turnover and Employees

 

 

Date of Accounts

 

 

 

 

31/12/2011

GBP 15,941,483

5

 

 

31/12/2012

GBP 13,599,719

5

 

 

31/12/2013

GBP 13,409,220

6

 

 

 

Supplementary Data

 

Banks

 

Bank Name                               Bank Branch Sort Code

LLOYDS TSB BANK PLC

 

 

Auditor

 

Auditor Name

WISE & CO

 

 

Events

 

Company History

 

Date                 Action

28/08/2010        Annual Returns

15/09/2010        New Accounts Filed

22/08/2011        Annual Returns

11/10/2011        New Accounts Filed

11/10/2011        New Accounts Filed

24/08/2012        Annual Returns

08/10/2012        New Accounts Filed

08/10/2012        New Accounts Filed

16/08/2013        Annual Returns

07/10/2013        New Accounts Filed

07/10/2013        New Accounts Filed

20/09/2014        Annual Returns

14/10/2014        New Accounts Filed

 

 

Mortgages

 

Charge created              22/11/1999

Charge registered          20/06/2013

Status                           SATISFIED

Entitled person              LLOYDS TSB BANK PLC;

Mortgage detail                         FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY

AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

County Court Judgments (CCJs)

There are no County Court Judgments listed against this company

 

 

Profit & Loss

 

 

31/12/2013

31/12/3012

31/12/2011

31/12/2010

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: No

Group: No

Group: No

Group: No

Turnover

13,409,220

13,599,719

15,941,483

12,987,588

Export

-

-

-

-

Cost of Sales

12,395,614

12,508,056

14,623,412

11,717,219

Gross Profit

1,013,606

1,091,663

1,318,071

1,270,369

Wages and Salaries

177,790

168,731

85,330

85,320

Directors Emoluments

48,751

38,042

38,407

19,200

Operating Profit

605,923

733,108

992,984

907,292

Depreciation

16,462

12,972

3,777

3,197

Audit Fees

6,500

6,500

6,500

8,260

 

 

31/12/2013

31/12/2012

31/12/2011

31/12/2010

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: No

Group: No

Group: No

Group: No

Interests Payments

21,363

33,279

35,152

283

Pre Tax Profit

584,579

699,850

957,832

907,009

Taxation

-144,819

-173,308

-261,746

-243,233

Profit After Tax

439,760

526,542

696,086

663,776

Dividends Payable

120,000

120,000

120,000

1,045,000

Retained Profit

319,760

406,542

576,086

-381,224

 

 

BALANCE SHEET

 

 

31/12/2013

31/12/2012

31/12/2011

31/12/2010

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: No

Group: No

Group: No

Group: No

Tangible Assets

28,348

38,247

13,063

8,136

Intangible Assets

0

0

0

0

Total Fixed Assets

28,348

38,247

13,063

8,136

Stock

2,275,800

1,417,054

1,440,652

919,589

Trade Debtors

1,512,046

1,362,324

1,811,052

1,412,567

Cash

1,102,984

1,937,933

858,437

648,055

Other Debtors

1,961

347

347

347

Miscellaneous Current Assets

0

0

0

0

Total Current Assets

4,892,791

4,717,658

4,110,488

2,980,558

Trade Creditors

483,512

251,316

160,565

195,622

Bank Loans and Overdraft

0

0

0

0

Other Short Term Finance

0

0

0

0

Miscellaneous Current Liabilities

994,449

1,381,172

1,246,111

652,283

Total Current Liabilities

1,477,961

1,632,488

1,406,676

847,905

Bank Loans and Overdrafts LTL

0

0

0

0

Other Long Term Finance

0

0

0

0

Total Long Term Liabilities

0

0

0

0

 

 

Capital & reserves

 

 

31/12/2013

31/12/2012

31/12/2011

31/12/2010

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: No

Group: No

Group: No

Group: No

Call Up Share Capital

10,000

10,000

10,000

10,000

P & L Account Reserves

3,433,178

3,113,417

2,706,875

2,130,789

 

 

 

31/12/2013

31/12/2012

31/12/2011

31/12/2010

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: No

Group: No

Group: No

Group: No

Revaluation Reserve

0

0

0

0

Sundry Reserves

0

0

0

0

Shareholders Funds

3,443,178

3,123,417

2,716,875

2,140,789

 

 

Other financial items

 

 

31/12/2013

31/12/2012

31/12/2011

31/12/2010

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: No

Group: No

Group: No

Group: No

Net Worth

3,443,178

3,123,417

2,716,875

2,140,789

Working Capital

3,414,830

3,085,170

2,703,812

2,132,653

Total Assets

4,921,139

4,755,905

4,123,551

2,988,694

Total Liabilities

1,477,961

1,632,488

1,406,676

847,905

Net Assets

3,443,178

3,123,417

2,716,875

2,140,789

 

Cash Flow

 

 

31/12/2013

52 GBP Group: No

31/12/2012

52 GBP Group: No

31/12/2011

52 GBP Group: No

31/12/2010

52 GBP Group: No

Net Cash Flow from Operations

-513,733

1,532,659

616,017

495,020

Net Cash Flow before Financing

-834,949

1,079,496

210,381

-746,501

Net Cash Flow from Financing

0

0

0

0

Increase in Cash

-834,949

1,079,496

210,382

-746,501

 

 

Miscellaneous

 

 

31/12/2013

31/12/2012

31/12/2011

31/12/2010

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: No

Group: No

Group: No

Group: No

Capital Employed

3,443,178

3,123,417

2,716,875

2,140,789

 

 

Financial ratio

 

Name

31/12/2013

31/12/2012

31/12/2011

31/12/2010

Pre Tax Profit Margin

4.36 %

5.15%

6.01 %

6.98 %

Current Ration

3.31

2.89

2.92

3.52

Sales or Networking Capital

3.93

4.41

5.90

6.09

Gearing

0.00 %

0.00 %

0.00 %

0.00 %

Equity

69.97 %

65.67 %

65.89 %

71.63%

Creditor Days

13.12

6.72

3.66

5.48

Debtor Days

41.04

36.46

41.35

39.58

Liquidity or Acid test

1.77

2.02

1.89

2.43

Return on Capital Employed

16.97%

22.40 %

35.25 %

42.36 %

Return on Total Assets Employed

11.87%

14.71 %

23.22 %

30.34 %

Current Debt Ratio

0.42 %

0.52 %

0.51 %

0.39 %

Total Debt Ratio

0.42 %

0.52 %

0.51 %

0.39 %

Stock Turnover Ratio

16.97%

10.41 %

9.03 %

7.08 %

Return on Net Assets Employed

16.97%

22.40 %

35.25 %

42.36 %

 

Remarks

 

The financial statement reports that the turnover has been maintained with further profitability. The general financial position appears satisfactory with continuing increases in shareholder's funds. Remains to be seen how the company trades during the financial year ended December 2014

 

Net Profit Year Ended 31/12/2013 - 319.760GBP

 

Net Profit Year Ended 31/12/2012 - 406.542GBP

 

Activity: Independent Distributor of Vegetable Oils

 

  • Castor Oil (No 1, Special Grade, BP, Pharmaceutical, Blown and Dehydrated);
  • Castor Oil Derivatives (Hydrogenated, 12 Hydroxy Stearic Acid)
  • Coconut Oil (Crude, Refined)
  • Glycerine
  • Linseed Oil (Raw, Refined, Boiled Blown, Stand Oils, Emulsifiable)
  • Palm Oil (Crude & Refined)
  • Rapeseed Oil (Crude, Refined, Refined Hardened, Blown);
  • Sebacic Acid, Dibutyl Sebacate, Dioctyl Sebacate & Dimethyl Sebacate
  • Soyabean Oil (Crude, Refined, Refined Hardened and Blown)
  • Sunflower Oil (Crude & Refined)
  • Wood Oil
  • Microcrystalline Cellulose Powder (Flocel 101 and 102)
  • Ethylene Bis Stearamide
  • Soya Stand Oil

 

Trading Address Confirmed : 121 Albert Street, Fleet. Hampshire GU51 3SR

Branches: None

Employees: -5/10

Bank: Lloyds Bank PLC

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.87

UK Pound

1

Rs.97.69

Euro

1

Rs.77.37

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

TPT

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.