MIRA INFORM REPORT

 

 

Report Date :

23.09.2014

 

IDENTIFICATION DETAILS

 

Name :

NIGLON LIMITED

 

 

Registered Office :

Highlands Road Cranmore  Industrial Estate Shirley, B90 4np   England

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.04.2013

 

 

Date of Incorporation :

11.11.1966

 

 

Com. Reg. No.:

00891753

 

 

Legal Form :

Private Limited with Share Capital

 

 

Line of Business :

Wholesale of Electronic and Telecommunications Equipment and Parts

 

 

No. of Employees :

37

 

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:            NIGLON LIMITED

Company No.:               00891753

Company Status:           Active – Accounts Filed

 

 

 

DIRECTORS/MANAGEMENT

 

Current Directors

Name

John Grahame Hinley

Date of Birth

13/04/1930

Officers Title

Mr

Nationality

British

Present Appointments

8

Function

Director

Appointment Date

31/12/1991

 

 

Address

Tile Cross House 51 Browns Lane, Knowle, Solihull, West Midlands, B93 9BE

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Simon Brett Hinley

Date of Birth

14/04/1958

Officers Title

Mr

Nationality

British

Present Appointments

10

Function

Director

Appointment Date

31/12/1991

 

 

Address

The Rickyard, Barston Lane Barston, Solihull, West Midlands, B92 0JU

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Janet Elizabeth Hinley

Date of Birth

09/12/1934

Officers Title

Mrs

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

31/12/1991

 

 

Address

Tile Cross House 51 Browns Lane, Knowle, Solihull, West Midlands, B93 9BE

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Jeremy Wilson

Date of Birth

25/05/1955

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

31/12/1991

 

 

Address

50 Bromsgrove Road, Studley, Warwickshire, B80 7PF

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Oliver Hinley

Date of Birth

26/05/1991

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

14/02/2012

 

 

Address

Highlands Road, Cranmore Industrial Estate, Shirley,solihull, West Midlands, B90 4NP

 

Previous Director/Company Secretaries

No Previous Director Details

 

 

NEGATIVE INFORMATION

 

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 -

-

 

 

 

Exact CCJ Details

No CCJs found

 

Possible CCJs Details

There are no possible CCJ details

 

Writ Details

No writs found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

J.G. HINLEY

GBP

59,000

ORDINARY

1

59

S.B. HINLEY

GBP

21,600

ORDINARY

1

21.6

J.E. HINLEY

GBP

18,400

ORDINARY

1

18.4

MR J. WILSON

GBP

1,000

ORDINARY

1

1

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

3 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

NIGLON LIMITED

Ownership Status

Ultimately Owned

Ultimate Holding Company

NIGLON LIMITED

 

Group structure

Company Name

 

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

NIGLON LIMITED

 

00891753

30.04.2013

Y

 

SIMPLEX CONDUIT SYSTEM...

 

08460957

-

N

 

GEORGE HUGHES (COBO) L...

 

00485618

30.04.2013

N

 

 

 

FINANCIAL INFORMATION

 

 

Profit & Loss

Date Of Accounts

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

30/04/09

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

Y

(%)

Y

(%)

Y

(%)

Y

(%)

Y

Turnover

-

-

£8,398,972

7.7%

£7,799,895

0.9%

£7,728,186

0%

£7,728,370

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-100%

£5,626,083

6.8%

£5,269,690

2.4%

£5,144,183

-1.2%

£5,204,471

Gross Profit

£3,098,844

11.8%

£2,772,889

9.6%

£2,530,205

-2.1%

£2,584,003

2.4%

£2,523,899

Wages & Salaries

£1,619,847

19.4%

£1,356,217

5%

£1,291,067

-3.9%

£1,343,637

1.6%

£1,322,872

Directors Emoluments

£1,008,738

29.1%

£781,325

-2.2%

£798,816

-6%

£849,635

4%

£816,952

Operating Profit

£880,250

-6.3%

£939,726

24.1%

£757,379

-3.9%

£788,247

37.1%

£574,937

Depreciation

£62,548

18.7%

£52,709

4.4%

£50,464

-17.3%

£60,995

-1.6%

£61,986

Audit Fees

£12,500

-16.7%

£15,000

20%

£12,500

-2.2%

£12,780

-6.4%

£13,650

Interest Payments

-

-100%

£1,029

-

-

-100%

£854

-72.5%

£3,102

Pre Tax Profit

£893,112

-6.3%

£952,896

23.5%

£771,498

-2.9%

£794,736

21.7%

£653,242

Taxation

-£216,952

15.1%

-£255,505

-11.5%

-£229,199

-11.8%

-£205,018

-16.7%

-£175,681

Profit After Tax

£676,160

-3%

£697,391

28.6%

£542,299

-8%

£589,718

23.5%

£477,561

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

£676,160

-3%

£697,391

28.6%

£542,299

-8%

£589,718

23.5%

£477,561

 

Balance Sheet

Date Of Accounts

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

30/04/09

Tangible Assets

£1,612,438

2.6%

£1,571,741

1%

£1,555,901

-0.9%

£1,569,905

-12.4%

£1,792,334

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£1,612,438

2.6%

£1,571,741

1%

£1,555,901

-0.9%

£1,569,905

-12.4%

£1,792,334

Stock

£1,499,629

6.2%

£1,411,579

46.4%

£964,378

-6%

£1,026,038

2.1%

£1,004,590

Trade Debtors

£2,677,543

13.9%

£2,350,790

26.3%

£1,861,743

4.5%

£1,781,912

1.1%

£1,762,126

Cash

£4,618,930

20.2%

£3,841,595

-4.6%

£4,027,919

13.5%

£3,549,410

1.1%

£3,511,277

Other Debtors

£142,238

18.3%

£120,204

-51.6%

£248,548

126.5%

£109,756

-5.1%

£115,603

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£8,938,340

15.7%

£7,724,168

8.8%

£7,102,588

9.8%

£6,467,116

1.1%

£6,393,596

Trade Creditors

£988,689

20.2%

£822,230

24%

£663,216

45.9%

£454,461

-21.4%

£577,845

Bank Loans & Overdrafts

0

-

0

-100%

£93,170

-10%

£103,515

167.6%

£38,678

Other Short Term Finance

£142,809

239.9%

£42,020

-52.6%

£88,653

-70.4%

£299,649

-24.8%

£398,622

Miscellaneous Current Liabilities

£1,319,366

27.7%

£1,032,905

-9.2%

£1,137,087

6.2%

£1,070,332

-26.3%

£1,451,439

Total Current Liabilities

£2,450,864

29.2%

£1,897,155

-4.3%

£1,982,126

2.8%

£1,927,957

-21.8%

£2,466,584

Bank Loans & Overdrafts and LTL

0

-

0

-100%

£93,170

-10%

£103,515

167.6%

£38,678

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

 

Capital & Reserves

Date Of Accounts

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

30/04/09

Called Up Share Capital

£100,000

-

£100,000

-

£100,000

-

£100,000

-

£100,000

P & L Account Reserve

£6,940,555

10.8%

£6,264,395

12.5%

£5,567,004

10.8%

£5,024,705

13.3%

£4,434,987

Revaluation Reserve

£1,059,359

2.4%

£1,034,359

2.5%

£1,009,359

2.5%

£984,359

-16.9%

£1,184,359

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£8,099,914

9.5%

£7,398,754

10.8%

£6,676,363

9.3%

£6,109,064

6.8%

£5,719,346

 

Other Financial Items

Date Of Accounts

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

30/04/09

Net Worth

£8,099,914

9.5%

£7,398,754

10.8%

£6,676,363

9.3%

£6,109,064

6.8%

£5,719,346

Working Capital

£6,487,476

11.3%

£5,827,013

13.8%

£5,120,462

12.8%

£4,539,159

15.6%

£3,927,012

Total Assets

£10,550,778

13.5%

£9,295,909

7.4%

£8,658,489

7.7%

£8,037,021

-1.8%

£8,185,930

Total Liabilities

£2,450,864

29.2%

£1,897,155

-4.3%

£1,982,126

2.8%

£1,927,957

-21.8%

£2,466,584

Net Assets

£8,099,914

9.5%

£7,398,754

10.8%

£6,676,363

9.3%

£6,109,064

6.8%

£5,719,346

 

Cash Flow

Date Of Accounts

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

30/04/09

Net Cashflow from Operations

£1,049,655

326.6%

£246,067

-74.5%

£963,389

268.6%

£261,344

-68%

£817,308

Net Cashflow before Financing

£698,580

999.9%

£26,383

-96.5%

£746,350

493.9%

£125,677

-80.7%

£650,936

Net Cashflow from Financing

£78,755

165.9%

-£119,537

53.6%

-£257,496

-160.2%

-£98,973

-139.2%

£252,498

Increase in Cash

£777,335

934.5%

-£93,154

-119.1%

£488,854

999.9%

£26,704

-97%

£903,434

 

Miscellaneous

Date Of Accounts

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

30/04/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£8,099,914

9.5%

£7,398,754

10.8%

£6,676,363

9.3%

£6,109,064

6.8%

£5,719,346

Number of Employees

37

8.8%

34

-5.6%

36

20%

30

3.4%

29

Auditors

W H PARKER

Auditor Comments

The audit report contains no adverse comments

Bankers

 

Bank Branch Code

 

 

Ratios

Date Of Accounts

30/04/13

30/04/12

30/04/11

30/04/10

30/04/09

Pre-tax profit margin %

-

11.35

9.89

10.28

8.45

Current ratio

3.65

4.07

3.58

3.35

2.59

Sales/Net Working Capital

-

1.44

1.52

1.70

1.97

Gearing %

0

0

1.40

1.70

0.70

Equity in %

76.80

79.60

77.10

76

69.90

Creditor Days

-

35.63

30.95

21.40

27.21

Debtor Days

-

101.88

86.88

83.92

82.99

Liquidity/Acid Test

3.03

3.32

3.09

2.82

2.18

Return On Capital Employed %

11.02

12.87

11.55

13

11.42

Return On Total Assets Employed %

8.46

10.25

8.91

9.88

7.98

Current Debt Ratio

0.30

0.25

0.29

0.31

0.43

Total Debt Ratio

0.30

0.25

0.29

0.31

0.43

Stock Turnover Ratio %

-

16.80

12.36

13.27

12.99

Return on Net Assets Employed %

11.02

12.87

11.55

13

11.42

 

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

11

£11,678

 

Company Name

Amount

Statement Date

Stephenson Cook Freer Limited

£3,161

25/11/2009

Stephenson Cook Liddell Limited

£2,256

25/11/2009

Valmo Electrical Supplies Limited

£2,250

08/08/2011

Smith Fasteners Limited

£1,477

05/08/2011

Stephenson Cook Sewell Limited

£577

25/11/2009

Stephenson Cook Scott Limited

£537

27/11/2009

Aintree Electrical Supplies Limited

£493

09/11/2012

Online Electrical Wholesalers Ltd

£280

16/08/2012

Stephenson Cook Carter Limited

£273

25/11/2009

Teesside Electrical Supplies Limited

£238

18/01/2010

Wholesale Electro (Leeds) Limited

£136

12/02/2013

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

 

ADDITIONAL INFORMATION

 

Enquiries Trend

There have been 182 enquiries in the last 12 months.

There are an average of 15 reports taken each month.

 

Current Company Secretary

Name

Janet Elizabeth Hinley

Date of Birth

09/12/1934

Officers Title

Mrs

Nationality

British

Present Appointments

4

Function

Company Secretary

Appointment Date

31/12/1991

 

 

Address

Tile Cross House 51 Browns Lane, Knowle, Solihull, West Midlands, B93 9BE

 

Status History

No Status History found

 

Event History

Date

Description

08/02/2014

New Accounts Filed

08/02/2014

New Accounts Filed

17/01/2014

Annual Returns

08/02/2013

New Accounts Filed

08/02/2013

New Accounts Filed

21/01/2013

Annual Returns

10/03/2012

New Accounts Filed

10/03/2012

New Accounts Filed

22/02/2012

New Board Member Mr O. Hinley appointed

03/01/2012

Annual Returns

04/02/2011

New Accounts Filed

04/02/2011

New Accounts Filed

15/01/2011

Annual Returns

11/02/2010

New Accounts Filed

11/02/2010

New Accounts Filed

 

Previous Company Names

No Previous Names found

 

NOTES & COMMENTS

 

Commentary

No exact match CCJs are recorded against the company.

The company's credit rating has increased from not rated to 78 which indicates very good creditworthiness.

Sales in the latest trading period increased 7.7% on the previous trading period.

Net Worth increased by 10.8% during the latest trading period.

A 7.4% growth in Total Assets occurred during the latest trading period.

 

There has been no significant change in the company's credit limit.

Pre-tax profits increased by 23.5% compared to the previous trading period.

The company saw a decrease in their Cash Balance of 4.6% during the latest trading period.

The audit report contains no adverse comments.

No recent changes in directorship are recorded.

The company is part of a group.

The company was established over 47 years ago.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.79

UK Pound

1

Rs.99.30

Euro

1

Rs.78.16

 

INFORMATION DETAILS

 

Analysis Done by :

 SUB

 

 

Report Prepared by :

SDA

 

               

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.