MIRA INFORM REPORT

 

 

Report No. :

315913

Report Date :

07.04.2015

 

IDENTIFICATION DETAILS

 

Name :

CHEMCOLLOIDS LIMITED

 

 

Formerly Known As :

SHAPEPIKE LIMITED

 

 

Registered Office :

Unit 1, Crossleey Stud Farm, Buxton Road, Congleton, CW12 2PN

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.09.2013

 

 

Date of Incorporation :

15.06.1990

 

 

Com. Reg. No.:

02512530

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Manufacture of Other Food Products

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 summary

 

Registered Address

Unit 1, Crossleey Stud Farm, Buxton Road, Congleton, CW12 2PN

Trading Address

Unit 1, Crossleey Stud Farm, Buxton Road, Congleton, CW12 2PN

Website Address

http://www.chemcolloids.com

 

 

Telephone Number

01260223555

Company Number

02512530

TPS

No

FPS

No

Incorporation Date

15/06/1990

 

 

Previous Name

SHAPEPIKE LIMITED

Type

Private Limited With Share Capital

Date of Charge

05/09/1990

Filing Date of Accounts

09/06/2014

Currency

GBP

Share Capital

£1,000

SIC07

10890

Charity Number

--

SIC07 Description

Manufacture of other food products n.e.c.

Principal Activity

Non-specialized wholesale food.

 

 

Key financials

 

Year to Date

 

Turnover

Pre Tax Profit

Shareholder

Funds Employees

30/09/2013

-

-

£1,331,333

-

30/09/2012

-

-

£1,118,661

-

30/09/2011

-

-

£635,635

-

 

Mortgage Summary

 

Total Mortgage              2

Outstanding                  1

Satisfied                       1

 

 

Trade Debtors/Bad Debt Summary

 

Total Number of Documented Trade                   1

Total Value of Documented Trade                      £936

 

 

commentary

 

 

This company has been treated as a Small company.

This company has only made late payments on a low percentage of invoices.

The latest Balance Sheet indicates a very positive net working capital position.

The latest cash balances represent a positive level in terms of the overall outstanding creditor obligations.

There has been an increase in shareholders funds compared with the previous balance sheet.

This company trades in an industry with a moderate level of corporate failures.

 

 

Current Directors

 

Name

Dennis William Quinn

Date of Birth

18/09/1951

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

15/06/1991

Address

6 Tarvin Close, Macclesfield, Cheshire, SK11 7JT

 

Name

Elizabeth Susan Capper

Date of Birth

25/02/1955

Officers Title

Ms

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

21/12/2007

Address

6 Tarvin Close, Macclesfield, Cheshire, SK11 7JJ

 

Name

Stephen Lee Walton

Date of Birth

20/02/1973

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

01/07/2011

Address

Unit 1 Crossley Stud Farm, Buxton Road, Congleton, Cheshire, CW12 2PN

 

 

Current Company Secretary

 

Top 20 Shareholders

 

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

DWQ ENTERPRISE LTD

GBP

1,000

ORDINARY

1

100

 

 

Profit & Loss

 

Date Of Accounts

30/09/13

(%)

30/09/12

(%)

30/09/11

(%)

30/09/10

(%)

30/09/09

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

barchart-grey

Turnover

-

-

-

-

-

-

-

-

-

barchart-grey

Export

-

-

-

-

-

-

-

-

-

barchart-grey

Cost of Sales

-

-

-

-

-

-

-

-

-

barchart-grey

Gross Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Wages & Salaries

-

-

-

-

-

-

-

-

-

barchart-grey

Directors Emoluments

-

-

-

-

-

-

-

-

-

barchart-grey

Operating Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Depreciation

£9,181

-24.9%

£12,228

9.1%

£11,209

0.9%

£11,106

79.5%

£6,186

barchart-grey

Audit Fees

-

-

-

-

-

-

-

-

-

barchart-grey

Interest Payments

-

-

-

-

-

-

-

-

-

barchart-grey

Pre Tax Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Taxation

-

-

-

-

-

-

-

-

-

barchart-grey

Profit After Tax

-

-

-

-

-

-

-

-

-

barchart-grey

Dividends Payable

-

-

-

-

-

-

-

-

-

barchart-grey

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

30/09/13

(%)

30/09/12

(%)

30/09/11

(%)

30/09/10

(%)

30/09/09

barchart-grey

Tangible Assets

£16,949

-13%

£19,475

-32.9%

£29,023

-15%

£34,127

-20.3%

£42,804

barchart-grey

Intangible Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Fixed Assets

£16,949

-13%

£19,475

-32.9%

£29,023

-15%

£34,127

-20.3%

£42,804

barchart-grey

Stock

£906,448

-29.9%

£1,292,299

96.4%

£657,853

20.7%

£544,826

21.6%

£448,185

barchart-grey

Trade Debtors

£390,129

-23.7%

£511,335

21.8%

£419,879

-5.8%

£445,807

0.4%

£443,843

barchart-grey

Cash

£291,737

20.8%

£241,461

159.3%

£93,123

1.2%

£91,974

-7.9%

£99,867

barchart-grey

Other Debtors

0

-

0

-

0

-

0

-

0

barchart-grey

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Current Assets

£1,588,314

-22.3%

£2,045,095

74.7%

£1,170,855

8.2%

£1,082,607

9.1%

£991,895

barchart-grey

Trade Creditors

£271,388

-71.2%

£943,062

68.5%

£559,573

-14%

£650,589

16.1%

£560,312

barchart-grey

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

barchart-grey

Other Short Term Finance

0

-

0

-

0

-

0

-

0

barchart-grey

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

barchart-grey

Total Current Liabilities

£271,388

-71.2%

£943,062

68.5%

£559,573

-14%

£650,589

16.1%

£560,312

barchart-grey

Bank Loans & Overdrafts and LTL

£2,542

-10.7%

£2,847

-39%

£4,670

-12.5%

£5,337

-20%

£6,671

barchart-grey

Other Long Term Finance

0

-

0

-

0

-

0

-

0

barchart-grey

Total Long Term Liabilities

£2,542

-10.7%

£2,847

-39%

£4,670

-12.5%

£5,337

-20%

£6,671

 

 

Capital & Reserves

 

Date Of Accounts

30/09/13

(%)

30/09/12

(%)

30/09/11

(%)

30/09/10

(%)

30/09/09

barchart-grey

Called Up Share Capital

£1,000

-

£1,000

-

£1,000

-

£1,000

-

£1,000

barchart-grey

P & L Account Reserve

£1,330,333

19%

£1,117,661

76.1%

£634,635

38%

£459,808

-1.5%

£466,716

barchart-grey

Revaluation Reserve

-

-

-

-

-

-

-

-

-

barchart-grey

Sundry Reserves

-

-

-

-

-

-

-

-

-

barchart-grey

Shareholder Funds

£1,331,333

19%

£1,118,661

76%

£635,635

37.9%

£460,808

-1.5%

£467,716

 

 

Other Financials Items

 

Date Of Accounts

30/09/13

(%)

30/09/12

(%)

30/09/11

(%)

30/09/10

(%)

30/09/09

barchart-grey

Net Worth

£1,331,333

19%

£1,118,661

76%

£635,635

37.9%

£460,808

-1.5%

£467,716

barchart-grey

Working Capital

£1,316,926

19.5%

£1,102,033

80.3%

£611,282

41.5%

£432,018

0.1%

£431,583

barchart-grey

Total Assets

£1,605,263

-22.2%

£2,064,570

72.1%

£1,199,878

7.4%

£1,116,734

7.9%

£1,034,699

barchart-grey

Total Liabilities

£273,930

-71%

£945,909

67.6%

£564,243

-14%

£655,926

15.7%

£566,983

barchart-grey

Net Assets

£1,331,333

19%

£1,118,661

76%

£635,635

37.9%

£460,808

-1.5%

£467,716

 

 

Miscellaneous

 

Date Of Accounts

30/09/13

(%)

30/09/12

(%)

30/09/11

(%)

30/09/10

(%)

30/09/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

barchart-grey

Capital Employed

£1,333,875

18.9%

£1,121,508

75.2%

£640,305

37.4%

£466,145

-1.7%

£474,387

barchart-grey

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

Auditor Comments

The company is exempt from audit

Bankers

NATIONAL WESTMINSTER BANK PLC

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

30/09/13

30/09/12

30/09/11

30/09/10

30/09/09

barchart-grey

Pre-tax profit margin %

-

-

-

-

-

barchart-grey

Current ratio

5.85

2.17

2.09

1.66

1.77

barchart-grey

Sales/Net Working Capital

-

-

-

-

-

barchart-grey

Gearing %

0.20

0.30

0.70

1.20

1.40

barchart-grey

Equity in %

82.90

54.20

53

41.30

45.20

barchart-grey

Creditor Days

-

-

-

-

-

barchart-grey

Debtor Days

-

-

-

-

-

barchart-grey

Liquidity/Acid Test

2.51

0.79

0.91

0.82

0.97

barchart-grey

Return On Capital Employed %

-

-

-

-

-

barchart-grey

Return On Total Assets Employed %

-

-

-

-

-

barchart-grey

Current Debt Ratio

0.20

0.84

0.88

1.41

1.19

barchart-grey

Total Debt Ratio

0.20

0.84

0.88

1.42

1.21

barchart-grey

Stock Turnover Ratio %

-

-

-

-

-

barchart-grey

Return on Net Assets Employed %

-

-

-

-

-

 

 

Status History

 

No status history found

 

 

Event History

 

Date

Description

23/06/2014

Annual Returns

21/06/2014

New Accounts Filed

02/07/2013

New Accounts Filed

29/06/2013

Annual Returns

18/07/2012

Mr B.G. Williamson has resigned as company secretary

10/07/2012

Annual Returns

29/03/2012

New Accounts Filed

29/03/2012

New Accounts Filed

25/07/2011

New Board Member Mr S.L. Walton appointed

29/06/2011

New Accounts Filed

27/06/2011

Annual Returns

30/06/2010

Annual Returns

15/03/2010

New Accounts Filed

19/08/2009

New Accounts Filed

26/06/2009

Annual Returns

 

 

Previous Company Name

 

Date

Previous Name

05/09/1990

SHAPEPIKE LIMITED

 

 

Group Structure

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

tminus DWQ ENTERPRISE LIMITED

06448644

30.09.2013

N

L CHEMCOLLOIDS LIMITED

02512530

30.09.2013

N

 

 

Mortgage Details

 

Mortgage Type:

FIXED AND FLOATING CHARGE

Date Charge Created:

14/10/06

Date Charge Registered:

22/01/14

Date Charge Satisfied:

-

Status:

SATISFIED

Person(s) Entitled:

RBS INVOCIE FINANCE LIMITED;

Amount Secured:

Details:

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERYSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

 

Mortgage Type:

MORTGAGE DEBENTURE

Date Charge Created:

05/12/90

Date Charge Registered:

10/12/90

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

 

Trade Debtors/Bad debt details

 

Total Number of Documented Trade

Total Value of Documented Trade

Trade Debtors

1

£936

Company Name

Amount

Statement Date

Sub-Micron Industries Ltd

£936

24/05/2012

 

 

Previous director/company secretaries

 

Name

Current Directorships

Previous Directorships

James Colin Gleaves

3

6

Donald Christopher Stuart Thompstone

7

3

Trevor Rockliffe Bishop

1

4

Robert Gordon Blower

6

11

Alexander Martin Thompstone

0

3

Bryan George Williamson

1

4

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.15

UK Pound

1

Rs.92.74

Euro

1

Rs.68.23

 

 

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.