MIRA INFORM REPORT

 

 

Report Date :

28.11.2014

 

IDENTIFICATION DETAILS

 

Name :

MEADE-KING,ROBINSON & COMPANY LIMITED

 

 

Registered Office :

Tower Building, 22 Water Street, Liverpool, Merseyside, L3 1BL

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

23.02.1917

 

 

Com. Reg. No.:

00146176

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :
  • Subject is engaged in marketing of oils, oleochemicals, waxes, solvents and related products.
  • Wholesale of chemical products

 

 

No of Employees :

32

 

 

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 – 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 Ł375 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 identification

 

MEADE-KING,ROBINSON & COMPANY LIMITED

TOWER BUILDING

22 WATER STREET

LIVERPOOL

MERSEYSIDE

L3 1BL

United Kingdom

Telephone                     +44 015 1236 3191

Fax                               –

Website                        www.mkr.co.uk

Company Number:        00146176

Foundation:                  23/02/1917

Status:                          Active - Accounts Filed

VAT No:                        GB163316677

 

 

Main IndiCes

 

Comments

 

No exact match CCJs are recorded against the company. comparison. Sales in the latest trading period increased 4.8% on the previous trading period.

Net Worth increased by 11.2% during the latest trading period. A 11% growth in Total Assets occurred during the latest trading period. Pre-tax profits increased by 16.5% compared to the previous trading period. The audit report contains no adverse comments.

The company saw a decrease in their Cash Balance of 62.8% 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 part of a group. The company has changed its registered address recently. The company was established over 97 years ago.

 

 

Basic information

 

Legal form

Private limited with Share Capital

 

Foundation

23/02/1917

 

Company No.

00146176

 

Shareholders

 

Name

Currency

Number of shares

Share type

Nominal value

A.P. JAGODZINSKI

GBP

3,394

PREFERENCE

1

ANTHONY GRAEME DE BRACEY MARRS

GBP

6,250

ORDINARY

1

ANTHONY GRAHAM HUME JONES

GBP

1,721

PREFERENCE

1

ANTHONY MARRS

GBP

4,771

PREFERENCE

1

CHAMIAN JONES

GBP

1,645

PREFERENCE

1

CHARLES E. JONES

GBP

1,719

PREFERENCE

1

D. TUCKERMAN

GBP

2,197

PREFERENCE

1

EMMA TARLETON

GBP

2,500

ORDINARY

1

IAN RICHARD ROBINSON

GBP

4,394

PREFERENCE

1

JAMES DONALD CAMERON SMELLIE

GBP

12,768

PREFERENCE

1

JAMES DONALD CAMERON SMELLIE

GBP

6,250

ORDINARY

1

JANE M. HUCK

GBP

3,125

ORDINARY

1

JOHN CHRISTMAS

GBP

7,500

PREFERENCE

1

PHILIP TARLETON

GBP

3,750

ORDINARY

1

WILLIAM A. SMELLIE

GBP

3,125

ORDINARY

1

WILLIAM A. SMELLIE

GBP

9,548

PREFERENCE

1

MISS JANE HUCK

GBP

9,549

PREFERENCE

1

MRS CATRIONA M. MARSHALL

GBP

3,500

PREFERENCE

1

MRS FLORA J. MYER

GBP

2,500

PREFERENCE

1

MRS ISABELLA R. JONES

GBP

5,500

PREFERENCE

1

Total Share Capital                                                                                                                  GBP 100,000

 

Management

 

Directors

Name

Address:

Date of birth

Nationality

Appointment date

Mr James Donald Cameron Smellie

9 Chattis Hill Stables, Spitfire Lane, Stockbridge, Hampshire SO20 6JS

30/06/1941

British

04/12/1991

Mr Philip Tarleton

11 Lingdale Road, West Kirby, Wirral CH48 5DG

17/09/1960

British

23/11/1999

Mr Andrew Clifford Roberts

33 Winchester Avenue, Chorley, Lancashire PR7 4AQ

11/02/1967

British

01/01/2010

Mr Paul William James Rothery

Lower Barns Farm Lower Wych, Malpas, Cheshire SY14 7LB

03/07/1965

British

01/01/2010

Mr Michael George Peter Swiney

Orchard House Chapel Road, Cockfield, Bury St Edmunds, Suffolk IP30 0HE

20/09/1951

British

01/01/2010

 

 

Company Secretary

Name

Address:

Appointment date

Mr Philip Tarleton

11 Lingdale Road, West Kirby, Wirral CH48 5DG

01/07/1994

 

           

Other Known Addresses

 

162 Buchanan Street, Glasgow, Lanarkshire G1 2LL

Office Suite 10, Tower Building, 22 Water Street, Liverpool, Merseyside L3 1BL  

 

 

Business activities

 

Main activity

 

Principal Activity           A group engaged in marketing of oils, oleochemicals, waxes, solvents and related products.

SIC03                           Wholesale of chemical products

SIC07                           Wholesale of chemical products

 

 

Economic data

           

Turnover and Employees

 

Date of Accounts

Turnover

Employees

31/03/2012

GBP 59,900,799

32

31/03/2013

GBP 47,818,355

32

31/03/2014

GBP 50,112,838

32

 

 

Supplementary data

 

Banks

 

Bank Name                                                                               Bank Branch Sort Code

 

BARCLAYES BANK PLC                                                           20-50-82

 

Auditor

 

Auditor name

GRANT THORNTON UK LLP

 

Events

 

Company history

Date

Action

08/12/2009

Annual Returns

05/03/2010

Mr A.G. Marrs has left the board

05/03/2010

New Board Member Mr M.G. Swiney appointed

05/03/2010

New Board Member Mr P.W. Rothery appointed

05/03/2010

New Board Member Mr A.C. Roberts appointed

05/07/2010

New Board Member Mr M.G. Swiney appointed

03/09/2010

New Accounts Filed

03/09/2010

New Accounts Filed

30/12/2010

Annual Returns

15/10/2011

New Accounts Filed

24/12/2011

Annual Returns

07/08/2012

New Accounts Filed

04/12/2012

Annual Returns

13/08/2013

New Accounts Filed

03/12/2013

Annual Returns

21/08/2014

New Accounts Filed

 

Mortgages

Charge created

17/03/1982

Charge registered

23/03/1982

Status

OUTSTANDING

Entitled person

BARCLAYS BANK LTD

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

FIXED AND FLOATING CHARGE OVER UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL, BOOKDEBTSAND UN-CALLED CAPITAL. WITH ALL BUILDINGS,FIXTURES (INCLUDING TRADE FIXTURES) FIXED PLANT AND MACHINERY.

 

 

Charge created

06/08/1992

Charge registered

12/08/1992

Status

OUTSTANDING

Entitled person

BARCLAYS BANK LTD

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE

Mortgage detail

3RD FLOOR AT 162 BUCHANAN ST. GLASGOW

 

County Court Judgments (CCJs)

There are no County Court Judgments listed against this company

 

 

Accounts

 

Profit & Loss

 

 

31/03/2014

52

GBP

Group: Yes

31/03/2013

52

GBP

Group: Yes

31/03/2012

52

GBP

Group: Yes

31/03/2011

52

GBP

Group: Yes

Turnover

50,112,838

47,818,355

59,900,799

46,760,047

Export

-

-

-

6,318,888

Cost of Sales

42,802,878

40,994,071

52,623,715

39,669,010

Gross Profit

7,309,960

6,824,284

7,277,084

7,091,037

Wages And Salaries

1,249,657

1,358,030

1,538,102

1,652,016

Directors Emoluments

625,928

642,996

840,258

915,940

Operating Profit

1,200,842

1,103,448

1,366,600

1,202,247

Depreciation

91,964

89,778

84,855

76,751

Audit Fees

26,500

25,750

26,000

23,000

Interests Payments

101,448

102,485

118,859

91,469

Pre Tax Profit

1,099,663

944,167

1,234,779

927,524

Taxation

-267,143

-232,551

-218,323

-261,455

Profit After Tax

832,520

711,616

1,016,456

666,069

 

 

31/03/2014

52

GBP

Group: Yes

31/03/2013

52

GBP

Group: Yes

31/03/2012

52

GBP

Group: Yes

31/03/2011

52

GBP

Group: Yes

Dividends Payable

552,886

346,638

218,642

407,491

Retained Profit

279,634

364,978

797,814

258,578

 

Balance Sheet

 

31/03/2014

52

GBP

Group: Yes

31/03/2013

52

GBP

Group: Yes

31/03/2012

52

GBP

Group: Yes

31/03/2011

52

GBP

Group: Yes

Tangible Assets

503,240

507,691

469,711

452,350

Intangible Assets

124,950

258,981

545,917

832,853

Total Fixed Assets

628,190

766,672

1,015,628

1,285,203

Stock

5,177,078

4,174,670

4,579,362

4,603,734

Trade Debtors

9,490,025

8,480,980

11,480,004

9,679,066

Cash

136,515

367,353

215,908

297,661

Other Debtors

66,991

177,566

166,035

196,052

Miscellaneous Current Assets

0

0

0

0

Total Current Assets

14,870,609

13,200,569

16,441,309

14,776,513

Trade Creditors

5,322,353

3,858,247

7,392,306

6,166,091

Bank Loans and Overdraft

0

0

0

0

Other Short Term Finance

3,619,084

3,973,266

3,923,825

3,376,941

Miscellaneous Current Liabilities

2,245,338

2,103,338

2,473,394

3,649,086

Total Current Liabilities

11,186,775

9,934,851

13,789,525

13,192,118

Bank Loans and Overdrafts LTL

75,000

75,000

75,000

75,000

Other Long Term Finance

75,000

75,000

75,000

75,000

Total Long Term Liabilities

75,000

75,000

75,000

75,000

 

Capital & Reserves

 

31/03/2014

52

GBP

Group: Yes

31/03/2013

52

GBP

Group: Yes

31/03/2012

52

GBP

Group: Yes

31/03/2011

52

GBP

Group: Yes

Called Up Share Capital

25,000

25,000

25,000

25,000

P and L Account Reserve

4,212,024

3,932,390

3,567,412

2,769,598

Revaluation Reserve

0

0

0

0

Sundry Reserves

0

0

0

0

Shareholders Funds

4,237,024

3,957,390

3,592,412

2,794,598

 

Other Financial Items

 

31/03/2014

52

GBP

Group: Yes

31/03/2013

52

GBP

Group: Yes

31/03/2012

52

GBP

Group: Yes

31/03/2011

52

GBP

Group: Yes

Net Worth

4,112,074

3,698,409

3,046,495

1,961,745

Working Capital

3,683,834

3,265,718

2,651,784

1,584,395

Total Assets

15,498,799

13,967,241

17,456,937

16,061,716

Total Liabilities

11,261,775

10,009,851

13,864,525

13,267,118

Net Assets

4,237,024

3,957,390

3,592,412

2,794,598

 

Cash Flow

 

31/03/2014

52

GBP

Group: Yes

31/03/2013

52

GBP

Group: Yes

31/03/2012

52

GBP

Group: Yes

31/03/2011

52

GBP

Group: Yes

Net Cash Flow from Operations

1,068,993

865,813

77,912

957,508

Net Cash Flow before Financing

123,344

102,004

-628,637

-1,127,087

Net Cash Flow from Financing

-354,182

49,441

546,884

1,363,683

Increase in Cash

-230,838

151,445

-81,753

236,596

 

Miscellaneous

 

31/03/2014

52

GBP

Group: Yes

31/03/2013

52

GBP

Group: Yes

31/03/2012

52

GBP

Group: Yes

31/03/2011

52

GBP

Group: Yes

Capital Employed

4,312,024

4,032,390

3,667,412

2,869,598

 

Financial Ratios

Name

31/03/2014

31/03/2013

31/03/2012

31/03/2011

Pre Tax Profit Margin

2.19 %

1.97 %

2.06 %

1.98 %

Current Ration

1.33

1.33

1.19

1.12

Sales or Net Working Capital

13.60

14.64

22.59

29.51

Gearing

1.77 %

1.90 %

2.09 %

2.68 %

Equity

27.56 %

28.87 %

21.24 %

18.35 %

Creditor Days

38.65

29.36

44.92

47.99

Debtor Days

68.93

64.55

69.76

75.34

Liquidity or Acid test

0.86

0.90

0.86

0.77

Return on Capital Employed

25.50 %

23.41 %

33.66 %

32.32 %

Return on Total Assets Employed

7.09 %

6.75 %

7.07 %

5.77 %

Current Debt Ratio

2.64 %

2.51 %

3.83 %

4.72 %

Total Debt Ratio

2.65 %

2.52 %

3.85 %

4.74 %

Stock Turnover Ratio

10.33 %

8.73 %

7.64 %

9.84 %

Return on Net Assets Employed

25.95 %

23.85 %

34.37 %

33.18 %

 

Remarks

 

The financial statement reports that the turnover has increased together with 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 March 2014

 

Net Profit Year Ended 31/03/2014 – 832,520GBP

 

Net Profit Year Ended 31/03/2013 – 711,616GBP

 

Activity: distributor of Oleochemicals, Process Oils, Waxes, Base Oils, Fuel Additives and Epoxy Resins

 

Trading Address Confirmed : Tower Building, 22 Water Street. Liverpool L3 1BL

 

Branches: None

 

Employees: 32

 

Bank: Barclays Bank PLC


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.86

UK Pound

1

Rs.97.69

Euro

1

Rs.77.37                              

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SMN

 

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%)

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