|
Report No. : |
316723 |
|
Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
CRESCENT PHARMA LIMITED |
|
|
|
|
Registered Office : |
Units3-4 Quidhampton Business Units Polhampton Lane Overton Basingstoke RG25 3ED |
|
|
|
|
Country : |
United kingdom |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.05.2003 |
|
|
|
|
Com. Reg. No.: |
04750933 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Subject is manufacture of basic pharmaceutical products |
|
|
|
|
No. of Employee : |
6 (2013) |
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. 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. In 2008, 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. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. 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 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 5.8% in 2013. The Bank of England (BoE) implemented an asset purchase program of �375 billion (approximately $586 billion) as of December 2014. 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 1.8%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.
|
Source
: CIA |
CRESCENT PHARMA
LIMITED
04750933
UNITS3-4 QUIDHAMPTON BUSINESS UNITS POLHAMPTON LANE OVERTON BASINGSTOKE RG25 3ED
Registered Address
UNITS3-4 QUIDHAMPTON
BUSINESS
UNITS POLHAMPTON LANE OVERTON
BASINGSTOKE
RG25 3ED
Trading Address
5 Quidhampton Business
Units
Quidhampton
Overton
Basingstoke, Hampshire
RG25 3ED
Website Address http://www.crescentpharma.com
Telephone Number 01256772730
Fax Number
TPS Yes
FPS No
Incorporation Date 01/05/2003
Previous Name
Type Private limited with Share Capital
FTSE Index --
Date of Change --
Filing Date of Accounts 16/12/2014
Currency GBP
Share Capital £5,700,000
SIC07 21100
Charity Number -
SIC07 Description MANUFACTURE OF BASIC PHARMACEUTICAL PRODUCTS
Principal Activity Wholesale distribution and manufacturing of pharmaceutical products.
Key Financials Year to Date Turnover Pre Tax Profit Shareholder Funds Employees
31/12/2013 £15,655,450 £180,710 £9,955,333 6
31/12/2012 £14,506,929 £2,355,928 £9,813,635 5
31/12/2011 £13,705,413 £3,626,134 £8,082,092 5
Total Mortgage 1
Outstanding 0
Satisfied 1
Total Number of Documented Trade 2
Total Value of Documented Trade £263,171
Last 3 Years Credit Rating/Limit
|
Date |
Rating |
Limit |
|
31/12/2014 |
58 |
£410,000 |
|
31/12/2013 |
90 |
£400,000 |
|
31/12/2012 |
94 |
£110,000 |
|
This company has been treated as a Medium company |
|
|
This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding. |
|
|
This company's return on total assets employed ratio indicates a relatively efficient use of assets. |
|
|
This company has only made late payments on a low percentage of invoices. |
|
|
The company has more cash than short term bank borrowings. |
|
|
This company trades in an industry with a lower level of corporate failures. |
|
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 - |
- |
|
Total Current Directors |
1 |
|
Total Current Secretaries |
0 |
|
Total Previous Directors / Company Secretaries |
6 |
|
Name |
Mohammed Al-Doori |
Date of Birth |
23/11/1965 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
6 |
Function |
Director |
|
Appointment Date |
01/05/2003 |
||
|
Address |
3 Pack Lane, Oakley, Basingstoke, Hampshire, RG23 7BD |
||
|
Disqualified |
Disqualified End Date |
||
|
Disqualification Exception |
No |
||
Top 20 Shareholders
|
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
|
CRESCENT PHARMACEUTICALS LTD |
GBP |
5,700,000 |
ORDINARY |
1 |
100 |
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
£15,655,450 |
7.9% |
£14,506,929 |
5.8% |
£13,705,413 |
88.6% |
£7,265,429 |
43.8% |
£5,050,771 |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
£9,755,277 |
43.6% |
£6,793,418 |
-9.3% |
£7,487,355 |
55.2% |
£4,825,177 |
46.2% |
£3,299,766 |
|
Gross Profit |
£5,900,173 |
-23.5% |
£7,713,511 |
24.1% |
£6,218,058 |
154.8% |
£2,440,252 |
39.4% |
£1,751,005 |
|
Wages & Salaries |
£232,242 |
22% |
£190,386 |
28.7% |
£147,942 |
36.1% |
£108,669 |
-35.2% |
£167,815 |
|
Directors Emoluments |
£30,099 |
45.3% |
£20,710 |
-87.5% |
£165,077 |
- |
- |
- |
£111,000 |
|
Operating Profit |
£180,710 |
-92.3% |
£2,348,216 |
-48.1% |
£4,521,546 |
341.7% |
£1,023,664 |
132.3% |
£440,585 |
|
Depreciation |
£24,207 |
267.7% |
£6,583 |
2.6% |
£6,415 |
18.1% |
£5,434 |
-59.5% |
£13,423 |
|
Audit Fees |
£12,792 |
10.5% |
£11,576 |
-26.5% |
£15,740 |
109.9% |
£7,500 |
57.9% |
£4,750 |
|
Interest Payments |
- |
- |
- |
-100% |
£5 |
- |
- |
-100% |
£37 |
|
Pre Tax Profit |
£180,710 |
-92.3% |
£2,355,928 |
-35% |
£3,626,134 |
999.9% |
-£243,461 |
-109.3% |
£2,631,597 |
|
Taxation |
-£39,012 |
93.8% |
-£624,385 |
26.6% |
-£850,397 |
-150.7% |
£1,676,600 |
- |
- |
|
Profit After Tax |
£141,698 |
-91.8% |
£1,731,543 |
-37.6% |
£2,775,737 |
93.7% |
£1,433,139 |
-45.5% |
£2,631,597 |
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained Profit |
£141,698 |
-91.8% |
£1,731,543 |
-37.6% |
£2,775,737 |
93.7% |
£1,433,139 |
-45.5% |
£2,631,597 |
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Tangible Assets |
£1,069,094 |
-10% |
£1,187,664 |
68.4% |
£705,216 |
-47.4% |
£1,340,146 |
-48.6% |
£2,609,292 |
|
Intangible Assets |
£6,992,627 |
999.9% |
£379,981 |
-25.7% |
£511,072 |
-20.6% |
£643,691 |
-12.7% |
£737,400 |
|
Total Fixed Assets |
£8,061,721 |
414.3% |
£1,567,645 |
28.9% |
£1,216,288 |
-38.7% |
£1,983,837 |
-40.7% |
£3,346,692 |
|
Stock |
£5,142,273 |
427.1% |
£975,562 |
-23.2% |
£1,270,789 |
57% |
£809,653 |
-5.6% |
£857,424 |
|
Trade Debtors |
£4,293,097 |
-8.8% |
£4,707,095 |
19.3% |
£3,945,212 |
257.8% |
£1,102,683 |
-0.9% |
£1,112,659 |
|
Cash |
£6,713,472 |
26.2% |
£5,319,323 |
459.1% |
£951,353 |
359.3% |
£207,148 |
382.5% |
£42,929 |
|
Other Debtors |
£409,531 |
-61.4% |
£1,062,075 |
-17% |
£1,279,410 |
-31.6% |
£1,870,922 |
- |
0 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£16,558,373 |
37.3% |
£12,064,055 |
62% |
£7,446,764 |
86.6% |
£3,990,406 |
98.2% |
£2,013,012 |
|
Trade Creditors |
£6,232,508 |
138.8% |
£2,609,653 |
444.3% |
£479,438 |
-10.3% |
£534,674 |
-64% |
£1,486,488 |
|
Bank Loans & Overdrafts |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Finance |
£7,983 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
£8,390,290 |
594.3% |
£1,208,412 |
999.9% |
£101,522 |
-23.8% |
£133,214 |
- |
0 |
|
Total Current Liabilities |
£14,630,781 |
283.2% |
£3,818,065 |
557.2% |
£580,960 |
-13% |
£667,888 |
-55.1% |
£1,486,488 |
|
Bank Loans & Overdrafts and LTL |
£33,980 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Finance |
£33,980 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long Term Liabilities |
£33,980 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
.
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Called Up Share Capital |
£5,700,000 |
- |
£5,700,000 |
- |
£5,700,000 |
- |
£5,700,000 |
- |
£5,700,000 |
|
P & L Account Reserve |
£4,255,333 |
3.4% |
£4,113,635 |
72.7% |
£2,382,092 |
705.1% |
-£393,645 |
78.5% |
-£1,826,784 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£9,955,333 |
1.4% |
£9,813,635 |
21.4% |
£8,082,092 |
52.3% |
£5,306,355 |
37% |
£3,873,216 |
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Net Worth |
£2,962,706 |
-68.6% |
£9,433,654 |
24.6% |
£7,571,020 |
62.4% |
£4,662,664 |
48.7% |
£3,135,816 |
|
Working Capital |
£1,927,592 |
-76.6% |
£8,245,990 |
20.1% |
£6,865,804 |
106.6% |
£3,322,518 |
531% |
£526,524 |
|
Total Assets |
£24,620,094 |
80.6% |
£13,631,700 |
57.4% |
£8,663,052 |
45% |
£5,974,243 |
11.5% |
£5,359,704 |
|
Total Liabilities |
£14,664,761 |
284.1% |
£3,818,065 |
557.2% |
£580,960 |
-13% |
£667,888 |
-55.1% |
£1,486,488 |
|
Net Assets |
£9,955,333 |
1.4% |
£9,813,635 |
21.4% |
£8,082,092 |
52.3% |
£5,306,355 |
37% |
£3,873,216 |
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Net Cashflow from Operations |
- |
- |
£4,363,023 |
480.9% |
£751,047 |
266.2% |
£205,117 |
- |
- |
|
Net Cashflow before Financing |
- |
-100% |
£4,367,970 |
486.9% |
£744,210 |
353.2% |
£164,220 |
- |
- |
|
Net Cashflow from Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Increase in Cash |
- |
- |
£4,367,970 |
486.9% |
£744,210 |
353.2% |
£164,220 |
- |
- |
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£9,989,313 |
1.8% |
£9,813,635 |
21.4% |
£8,082,092 |
52.3% |
£5,306,355 |
37% |
£3,873,216 |
|
Number of Employees |
6 |
20% |
5 |
- |
5 |
66.7% |
3 |
-25% |
4 |
|
Auditors |
WILKINS KENNEDY LLP |
||||||||
|
Auditor Comments |
The audit report contains no adverse comments |
||||||||
|
Bankers |
NATIONAL WESTMINSTER BANK PLC |
||||||||
|
Bank Branch Code |
60-10-12 |
||||||||
|
Date Of Accounts |
31/12/13 |
31/12/12 |
31/12/11 |
31/12/10 |
31/12/09 |
|
Pre-tax profit margin % |
1.15 |
16.24 |
26.46 |
-3.35 |
52.10 |
|
Current ratio |
1.13 |
3.16 |
12.82 |
5.97 |
1.35 |
|
Sales/Net Working Capital |
8.12 |
1.76 |
2 |
2.19 |
9.59 |
|
Gearing % |
0.30 |
0 |
0 |
0 |
0 |
|
Equity in % |
56.50 |
74.10 |
99.10 |
99.50 |
83.80 |
|
Creditor Days |
144.91 |
65.47 |
12.73 |
26.78 |
107.12 |
|
Debtor Days |
99.81 |
118.10 |
104.78 |
55.24 |
80.18 |
|
Liquidity/Acid Test |
0.78 |
2.90 |
10.63 |
4.76 |
0.77 |
|
Return On Capital Employed % |
1.80 |
24 |
44.86 |
-4.58 |
67.94 |
|
Return On Total Assets Employed % |
0.73 |
17.28 |
41.85 |
-4.07 |
49.09 |
|
Current Debt Ratio |
1.46 |
0.38 |
0.07 |
0.12 |
0.38 |
|
Total Debt Ratio |
1.47 |
0.38 |
0.07 |
0.12 |
0.38 |
|
Stock Turnover Ratio % |
32.84 |
6.72 |
9.27 |
11.14 |
16.97 |
|
Return on Net Assets Employed % |
1.81 |
24 |
44.86 |
-4.58 |
67.94 |
|
Date |
Description |
|
28/01/2015 |
Annual Returns |
|
27/12/2014 |
New Accounts Filed |
|
27/12/2014 |
New Accounts Filed |
|
13/02/2014 |
Annual Returns |
|
14/10/2013 |
New Accounts Filed |
|
14/10/2013 |
New Accounts Filed |
|
18/07/2013 |
Annual Returns |
|
15/01/2013 |
Annual Returns |
|
10/10/2012 |
New Accounts Filed |
|
10/10/2012 |
New Accounts Filed |
|
19/04/2012 |
Change in Reg.Office |
|
19/04/2012 |
Change of Company Postcode |
|
18/02/2012 |
Annual Returns |
|
12/10/2011 |
New Accounts Filed |
|
12/10/2011 |
New Accounts Filed |
|
No Previous Names found |
|
No writs found |
|
Group |
5 companies |
|
Linkages |
0 companies |
|
Countries |
In 0 countries |
|
Holding Company |
CRESCENT PHARMACEUTICALS LIMITED |
|
Ownership Status |
Wholly Owned |
|
Ultimate Holding Company |
RUNTEX CORP |
|
Company Name |
Registered Number |
Latest Key Financials |
Consol. Accounts |
Turnover |
|
|
RUNTEX CORP |
|
N/A |
- |
- |
|
|
CRESCENT PHARMACEUTICA... |
|
07117426 |
31.12.2013 |
Y |
£18,001,851 |
|
CRESCENT PHARMA LIMITED |
|
04750933 |
31.12.2013 |
N |
£15,655,450 |
|
ROSMARINE MANUFACT... |
|
04766806 |
31.12.2014 |
N |
|
|
CRESCENT PHARMA OT... |
|
03940020 |
31.12.2013 |
N |
|
Group |
5 companies |
|
Linkages |
0 companies |
|
Countries |
In 0 countries |
|
Mortgage Type: |
CHARGE OF DEPOSIT |
||
|
Date Charge Created: |
31/10/07 |
||
|
Date Charge Registered: |
17/11/07 |
||
|
Date Charge Satisfied: |
27/01/15 |
||
|
Status: |
SATISFIED |
||
|
Person(s) Entitled: |
NATIONAL WESTMINSTER BANK PLC; |
||
|
Amount Secured: |
|||
|
Details: |
ALL DEPOSITS NOW AND IN THE FUTURE CREDITED TO ACCOUNT DESIGNATION 47019999 WITH THE BANK AND ANY DEPOSIT OR ACCOUNT OFANY OTHER DESCRIPTION OR DESIGNATION WHICH DERIVES IN WHOLE OR IN PART FROM SUCH DEPOSITS OR ACCOUNT |
||
|
Total Number |
Total Value |
|
|
Trade Creditors |
0 |
- |
|
No Creditor Data |
||
|
Total Number of Documented Trade |
Total Value of Documented Trade |
|
|
|
Trade Debtors |
2 |
£263,171 |
|
|
Company Name |
Amount |
Statement Date |
|
|
Melbrosin UK Limited |
£178,571 |
13/10/2009 |
|
|
Dexo Biopharm Limited |
£84,600 |
13/10/2009 |
|
|
Name |
Current Directorships |
Previous Directorships |
|
Luma Auchi |
6 |
3 |
|
Margaret Mary Bartlett |
0 |
2 |
|
Gerald Malone |
0 |
3 |
|
ACORN ACCOUNTING SOLUTIONS LTD |
1 |
3 |
|
BRIGHTON DIRECTOR LTD |
132 |
34318 |
|
BRIGHTON SECRETARY LTD |
133 |
31711 |
|
Average Invoice Value |
£56.79 |
|
|
Invoices available |
38 |
|
|
Paid |
38 |
|
|
Outstanding |
0 |
|
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 |
16 |
21 |
0 |
0 |
1 |
|
Outstanding |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.91.05 |
|
Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ASH |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.