MIRA INFORM REPORT

 

 

Report Date :

09.10.2014

 

IDENTIFICATION DETAILS

 

Name :

BLACKMAN & WHITE LIMITED

 

 

Registered Office :

Unit 8, The Street Industrial Estate, The Street Heybridge, Maldon CM9 4XB

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

17.12.1965

 

 

Com. Reg. No.:

00866933

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

·         Manufacture of other oeneral-purpose machinery

·         Precision engineers.

 

 

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 – 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

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Name:            BLACKMAN & WHITE LIMITED

Company No:                00866933

Company Status:           Active - Accounts Filed

Registered Address:       UNIT 8,THE STREET INDUSTRIAL ESTATE,THE STREET HEYBRIDGE,MALDON CM9 4XB

 

 

Company summary

 

Registered Address

UNIT 8,THE STREET INDUSTRIAL ESTATE, THE STREET HEYBRIDGE, MALDON CM94XB

Trading Address

Units

The Street Industrial Estate Heybridge Street, Heybridge Maldon, Essex CM9 4XB

Website Address

http://www.blackmanandwhite.com

Telephone Number

01621843404

Fax Number

-

TPS

No

FPS

No

Incorporate Date

17/12/1965

Previous Name

 

Type

Private limited with Share Capital

FTSE Index

-

Date of Change

-

Filing Date of Accounts

12/12/2013

Currency

GBP

Share Capital

£90

SIC07

28290

Charity Number

-

SIC07 Description

MANUFACTURE OF OTHER OENERAL-PURPOSE MACHINERY N.E.C.

Principal Activity

Precision engineers.

 

 

 

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

5

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

2

 

Current Directors

Name

Leslie Robert White

Date of Birth

11/05/1940

Officers Title

Mr

Nationality

British

Present Appointments

7

Function

Director

Appointment Date

28/12/1991

 

 

Address

Unit 8,the Street Industrial, Estate,the Street, Heybridge,maldon, Essex, CM9 4XB

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Claire Elizabeth Mary White

Date of Birth

04/08/1945

Officers Title

Mrs

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

28/12/1991

 

 

Address

Unit 8,the Street Industrial, Estate,the Street, Heybridge,maldon, Essex, CM9 4XB

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

John Charles White

Date of Birth

24/09/1955

Officers Title

Mr

Nationality

British

Present Appointments

3

Function

Director

Appointment Date

04/04/2008

 

 

Address

Unit 8,the Street Industrial, Estate,the Street, Heybridge,maldon, Essex, CM9 4XB

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Alexander Leslie White

Date of Birth

29/09/1973

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

04/04/2008

 

 

Address

Unit 8,the Street Industrial, Estate,the Street, Heybridge,maldon, Essex, CM9 4XB

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Eiko Ichikawa-White

Date of Birth

08/11/1974

Officers Title

Ms

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

19/01/2009

 

 

Address

Unit 8,the Street Industrial, Estate,the Street, Heybridge,maldon, Essex, CM9 4XB

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

Name

Eiko Ichikawa-White

Date of Birth

08/11/1974

Officers Title

Ms

Nationality

British

Present Appointments

2

Function

Company Secretary

Appointment Date

19/01/2009

 

 

Address

Unit 8,the Street Industrial, Estate,the Street, Heybridge,maldon, Essex, CM9 4XB

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

Claire Elizabeth Mary White

2

2

Richard William Lawrence

0

1

 

 

NEGATIVE INFORMATION

 

Mortgage Summary

Total Mortgage               4

Outstanding                   2

Satisfied                        2

 

CCJ

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 -

-

 

 

 

Mortgage Details

Mortgage Type:

LEGAL MORTGAGE

Date Charge Created:

11/02/00

 

 

Date Charge Registered:

22/02/00

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

NATIONAL WESTMINSTER BANK PLC

Amount Secured:

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

Details:

THE FREEHOLD PROPERTY KNOWN AS 8 THE STREET INDUSTRIAL ESTATE HULLBRIDGE ESSEX AND THE PROCEEDS OF SALE THEREOF FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT AND AN ASSIGNMENT OF THE GOODWILL AND CONNECTION OF ANY BUSINESS TOGETHER WITH THE FULL BENEFIT OF ALL LICENCES

 

Mortgage Type:

MORTGAGE DEBENTURE

Date Charge Created:

11/06/97

 

 

Date Charge Registered:

18/06/97

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

NATIONAL WESTMINSTER BANK PLC

Amount Secured:

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

Details:

A SPECIFIC EQUITABLE CHARGE OVER ALL FREEHOLD AND LEASEHOLD PROPERTIES AND/OR THE PROCEEDS OF SALE THEREOF FIXED AND FLOATING CHARGES OVER UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS AND THE BENEFITS OF ANY LICENCES

 

Mortgage Type:

DEBENTURE

Date Charge Created:

16/02/93

 

 

Date Charge Registered:

19/02/93

 

 

Date Charge Satisfied:

27/10/00

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

K.P.HICKS

Amount Secured:

£32,000 AND OTHER MONIES DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OFTHE DEED

Details:

(SEE FORM 395 FOR FULL DETAILS) FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY ANDASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY

 

Mortgage Type:

MORTGAGE DEBENTURE

Date Charge Created:

09/01/78

 

 

Date Charge Registered:

30/01/78

 

 

Date Charge Satisfied:

06/02/93

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

NATIONAL WESTMINSTER BANK PLC

Amount Secured:

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

Details:

A SPECIFIC EQUITABLE CHARGE OVER THE COMPANIES ESTATE OR INTEREST IN ALL F/H & L/H PROPERTY, ALL STOCKS, SHARES OR OTHER SECURITIES. ALL BOOK & OTHER DEBTS. ASSIGNMENT OF GOODWILL. FLOATING CHARGE OVER THE UNDERTAKING & ALL OTHER PROPERTY & ASSETS PRESENT & FUTURE (SEE DOC. M24 FOR DETAILS)

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

B W CUTTERS LTD

GBP

90

ORDINARY

1

100

 

 

PAYMENT INFORMATION

 

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade         0

Total Value of Documented Trade            £0

 

 

 

Trade Payment Information

Average Invoice Value

232.51

Invoices available

43

Paid

42

Outstanding

1

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

Average Invoice Value

£232.51

Invoices available

43

Paid

42

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

8

16

11

5

2

Outstanding

0

0

0

0

1

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

B W CUTTERS LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

B W CUTTERS LIMITED

 

Group structure

Company Name

 

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

B W CUTTERS LIMITED

 

05510663

31.03.2013

N

 

BLACKMAN & WHITE LIMITED

 

00866933

31.03.2013

N

 

 

 

FINANCIAL INFORMATION

 

 

 

Profit & Loss

 

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

 

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

 

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

£33,779

-16.7%

£40,540

51.5%

£26,761

0.2%

£26,695

-24.3%

£35,250

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

 

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Tangible Assets

£295,494

-10.5%

£330,341

-7.1%

£355,664

19.6%

£297,267

-10.4%

£331,909

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£295,494

-10.5%

£330,341

-7.1%

£355,664

19.6%

£297,267

-10.4%

£331,909

Stock

£106,296

-8.3%

£115,957

-11.9%

£131,655

29.2%

£101,918

-16.2%

£121,624

Trade Debtors

£322,478

60.9%

£200,427

-39.9%

£333,711

144%

£136,746

174%

£49,910

Cash

£465,837

-16.9%

£560,483

-6.5%

£599,465

37.7%

£435,197

329.9%

£101,230

Other Debtors

£10,192

20%

£8,492

-

0

-

0

-100%

£2,750

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£904,803

2.2%

£885,359

-16.9%

£1,064,831

58%

£673,861

144.6%

£275,514

Trade Creditors

£307,165

12.9%

£272,028

-39.3%

£448,130

47.6%

£303,606

128.6%

£132,829

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

£307,165

12.9%

£272,028

-39.3%

£448,130

47.6%

£303,606

128.6%

£132,829

Bank Loans & Overdrafts and LTL

£107,463

-28.4%

£150,035

-19.4%

£186,246

10.4%

£168,725

-16.3%

£201,616

Other Long Term Finance

0

-

0

-100%

£47,486

-32.6%

£70,450

-

0

Total Long Term Liabilities

£107,463

-28.4%

£150,035

-19.4%

£186,246

10.4%

£168,725

-16.3%

£201,616

 

Capital & Reserves

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Called Up Share Capital

£90

-

£90

-

£90

-

£90

-

£90

P & L Account Reserve

£785,579

-1%

£793,547

1%

£786,029

57.6%

£498,707

82.8%

£272,888

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£785,669

-1%

£793,637

1%

£786,119

57.6%

£498,797

82.7%

£272,978

 

Other Financial Items

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Net Worth

£785,669

-1%

£793,637

1%

£786,119

57.6%

£498,797

82.7%

£272,978

Working Capital

£597,638

-2.6%

£613,331

-0.5%

£616,701

66.6%

£370,255

159.5%

£142,685

Total Assets

£1,200,297

-1.3%

£1,215,700

-14.4%

£1,420,495

46.3%

£971,128

59.9%

£607,423

Total Liabilities

£414,628

-1.8%

£422,063

-33.5%

£634,376

34.3%

£472,331

41.2%

£334,445

Net Assets

£785,669

-1%

£793,637

1%

£786,119

57.6%

£498,797

82.7%

£272,978

 

Cash Flow

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

Miscellaneous

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

 

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£893,132

-5.4%

£943,672

-3%

£972,365

45.7%

£667,522

40.7%

£474,594

Number of Employees

-

-

-

-

-

-

-

-

-

 

Auditors

 

 

Auditor Comments

The company is exempt from audit

 

Bankers

NATIONAL WESTMINSTER BANK PLC

 

Bank Branch Code

 

 

 

Ratios

 

 

Date Of Accounts

31/03/13

31/03/12

31/03/11

31/03/10

31/03/09

Pre-tax profit margin %

-

-

-

-

-

Current ratio

2.95

3.25

2.38

2.22

2.07

Sales/Net Working Capital

-

-

-

-

-

Gearing %

13.70

18.90

23.70

33.80

73.90

 

Equity in %

65.50

65.30

55.30

51.40

44.90

 

Creditor Days

-

-

-

-

-

 

Debtor Days

-

-

-

-

-

 

Liquidity/Acid Test

2.59

2.82

2.08

1.88

1.15

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

0.39

0.34

0.57

0.60

0.48

Total Debt Ratio

0.52

0.53

0.80

0.94

1.22

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

 

FOREIGN EXCHANGE RATES

 

Na

 

Status History

No Status History found

 

Event History

Date

Description

22/02/2014

Annual Returns

21/12/2013

New Accounts Filed

21/12/2013

New Accounts Filed

26/01/2013

Annual Returns

19/12/2012

New Accounts Filed

08/02/2012

Annual Returns

10/01/2012

New Accounts Filed

10/01/2012

New Accounts Filed

26/01/2011

Annual Returns

29/11/2010

New Accounts Filed

29/01/2010

New Accounts Filed

13/01/2010

Annual Returns

29/10/2009

Mrs C.E. White has resigned as company secretary

27/01/2009

New Board Member Ms E. Ichikawa-White appointed

27/01/2009

New Company Secretary Ms E. Ichikawa-White appointed

 

 

Previous Company Names

 

No Previous Names found

 

 

NOTES & COMMENTS

 

Commentary

No exact match CCJs are recorded against the company.

There is insufficient data to indicate a change in this company's percentage of sales.

There is insufficient data to indicate a change in this company's pre-tax profit.

The company is exempt from audit.

 

Net Worth decreased by 1% during the latest trading period.

A 1.3% decline in Total Assets occurred during the latest trading period.

The company saw a decrease in their Cash Balance of 16.9% during the latest trading period.

No recent changes in directorship are recorded.

The company is part of a group.

The movement in accumulated earnings would indicate that the company incurred a loss after tax and other appropriations, including dividends.

The company was established over 48 years ago.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.04

UK Pound

1

Rs.98.64

Euro

1

Rs.77.74  

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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%)

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.