MIRA INFORM REPORT

Report No. :	316048
Report Date :	15.04.2015

IDENTIFICATION DETAILS

Name :	ARMAC BRASSFOUNDERS GROUP LIMITED
Formerly Known As :	ARMAC MANUFACTURING (BRASSFOUNDERS) LIMITED
Registered Office :	160 Dollman Streetduddestonbirminghamb7 4RS
Country :	United Kingdom
Financials (as on) :	31.12.2013
Date of Incorporation :	09.09.10953
Com. Reg. No.:	00523440
Legal Form :	Private limited with Share Capital
Line of Business :	Copper Production
No. of Employee :	123

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	In liquidation
Payment Behaviour :	--
Litigation :	--

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

Company name and address

Company Name

ARMAC BRASSFOUNDERS GROUP LIMITED

Company No

00523440

Registered Address

160 DOLLMAN STREETDUDDESTONBIRMINGHAMB7 4RS

Company Summary

Registered Address	160 DOLLMAN STREET DUDDESTON BIRMINGHAM B7 4RS	Trading Addres	160 Dollman Street Duddeston Birmingham West Midlands B7 4RS
Website Address	http://www.martin.co.uk
Telephone Number	01213594821	Fax Number
TPS	Yes	FPS	No
Incorporation Date	09/09/1953
Previous Name	ARMAC MANUFACTURING (BRASSFOUNDERS) LIMITED	Type	Private limited with Share Capital
FTSE Index	--	Date of Change	31/12/1978
Filing Date of Accounts	24/09/2014	Currency	GBP
Share Capital	£273,000	SIC07	24440
Charity Number	--
SIC07 Description	COPPER PRODUCTION
Principal Activity	A  group engaged in the manufacture of brass hardware, brass castings and turned parts.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
31/12/2013	£8,871,994	£172,401	£2,298,916	123
31/12/2012	£8,710,000	£154,840	£2,202,145	122
31/12/2011	£8,327,533	-£266,492	£3,006,715	124

Mortgage Summary

Total Mortgage 2

Outstanding 0

Satisfied 2

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

No comments to display

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 -	-

Total Current Directors	3
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	5

Current Directors

Name	Nicholas John McGrail	Date of Birth	16/06/1955
Officers Title	Mr	Nationality	British
Present Appointments	5	Function	Director
Appointment Date	08/11/1991
Address	211 Walsall Road, Four Oaks, Sutton Coldfield, West Midlands, B74 4QA

Name	Mark Peter McGrail	Date of Birth	22/10/1961
Officers Title	Mr	Nationality	British
Present Appointments	15	Function	Director
Appointment Date	01/01/1996
Address	115 The Boulevard, Sutton Coldfield, West Midlands, B73 5JE

Name	Paul Gerrard McGrail	Date of Birth	26/07/1958
Officers Title	Mr	Nationality	British
Present Appointments	7	Function	Director
Appointment Date	01/01/1996
Address	52 Somerville Road, Sutton Coldfield, Birmingham, West Midlands, B73 6HH

Current Company Secretary

Name	Mark Peter McGrail	Date of Birth	22/10/1961
Officers Title	Mr	Nationality	British
Present Appointments	15	Function	Company Secretary
Appointment Date	22/05/2001
Address	115 The Boulevard, Sutton Coldfield, West Midlands, B73 5JE

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MAUREEN THEODORE	GBP	43,750	ORDINARY	1	16.03
KATHLEEN MCHUGH	GBP	40,250	ORDINARY	1	14.74
MARK PETER MCGRAIL	GBP	35,450	ORDINARY	1	12.99
NICHOLAS JOHN MCGRAIL	GBP	35,450	ORDINARY	1	12.99
PAUL GERRARD MCGRAIL	GBP	35,450	ORDINARY	1	12.99
SUSAN MARY HARLEY	GBP	19,400	ORDINARY	1	7.11
STEPHEN MCGRAIL	GBP	19,400	ORDINARY	1	7.11
DOMINIC BRYAN MCGRAIL	GBP	16,000	ORDINARY	1	5.86
JEREMY CHARLES MCGRAIL	GBP	16,000	ORDINARY	1	5.86
MADELINE MARY CROXFORD MCGRAIL	GBP	7,150	ORDINARY	1	2.62
RICHARD JOHN MCHUGH	GBP	2,000	ORDINARY	1	0.73
ANNE PATRICIA YEO	GBP	2,000	ORDINARY	1	0.73
GABRIEL KATHLEEN PERRY	GBP	500	ORDINARY	1	0.18
RICHARD PAUL MCGRAIL	GBP	200	ORDINARY	1	0.07

Profit & Loss

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	Y	(%)	Y	(%)	Y	(%)	Y	(%)	Y
Turnover	£8,871,994	1.9%	£8,710,000	4.6%	£8,327,533	4.6%	£7,961,282	3.8%	£7,670,413
Export	£1,993,209	1.1%	£1,972,311	12.1%	£1,758,799	9.3%	£1,609,833	-13%	£1,850,534
Cost of Sales	£5,015,881	0.4%	£4,996,136	-1.3%	£5,064,085	13.9%	£4,446,763	-7.9%	£4,827,986
Gross Profit	£3,856,113	3.8%	£3,713,864	13.8%	£3,263,448	-7.1%	£3,514,519	23.6%	£2,842,427
Wages & Salaries	£3,505,682	4.1%	£3,366,736	1.7%	£3,311,461	10.7%	£2,991,167	-4.4%	£3,127,929
Directors Emoluments	£421,250	7.9%	£390,530	-3.2%	£403,581	6%	£380,735	9.4%	£347,956
Operating Profit	£258,893	18.1%	£219,237	242.6%	-£153,707	-130.5%	£504,242	328.8%	-£220,411
Depreciation	£208,342	3.8%	£200,794	-12.3%	£228,903	52.5%	£150,133	-24.8%	£199,542
Audit Fees	£26,600	-	£26,600	-	£26,600	-	£26,600	2.3%	£26,000
Interest Payments	£49,557	-25.4%	£66,397	-13%	£76,349	15.9%	£65,867	8.2%	£60,896
Pre Tax Profit	£172,401	11.3%	£154,840	158.1%	-£266,492	-162.3%	£427,555	260.5%	-£266,472
Taxation	-£12,630	72.2%	-£45,410	-999.9%	£11	100%	-£31,540	-141.7%	£75,719
Profit After Tax	£159,771	46%	£109,430	141.1%	-£266,481	-167.3%	£396,015	307.6%	-£190,753
Dividends Payable	-	-	-	-	-	-100%	£109,200	-	-
Retained Profit	£159,771	46%	£109,430	141.1%	-£266,481	-192.9%	£286,815	250.4%	-£190,753

Balance Sheet

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Tangible Assets	£3,384,919	0.8%	£3,358,772	-5.3%	£3,545,943	5.4%	£3,364,113	-22%	£4,313,919
Intangible Assets	£48,860	-56.3%	£111,908	-36%	£174,956	-26.5%	£238,004	-20.9%	£301,052
Total Fixed Assets	£3,433,779	-1.1%	£3,470,680	-6.7%	£3,720,899	3.3%	£3,602,117	-21.9%	£4,614,971
Stock	£1,989,829	-13.1%	£2,291,047	3%	£2,224,710	-4.3%	£2,325,688	3.4%	£2,248,913
Trade Debtors	£1,426,046	-0.5%	£1,433,435	12.9%	£1,269,350	-2.9%	£1,306,843	14.6%	£1,140,103
Cash	£412,641	16.2%	£355,144	-20.3%	£445,564	-9.1%	£490,404	15.9%	£422,997
Other Debtors	£71,204	-13.9%	£82,722	19.4%	£69,277	28.8%	£53,793	-59.1%	£131,507
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£3,899,720	-6.3%	£4,162,348	3.8%	£4,008,901	-4%	£4,176,728	5.9%	£3,943,520
Trade Creditors	£603,233	-19.1%	£745,260	4.9%	£710,768	12.8%	£630,122	8%	£583,475
Bank Loans & Overdrafts	£362,432	-39.8%	£602,438	-42.7%	£1,050,737	39.3%	£754,468	6.9%	£705,959
Other Short Term Finance	£565,701	10.4%	£512,487	328.5%	£119,598	53.6%	£77,869	20.5%	£64,616
Miscellaneous Current Liabilities	£492,344	-5.6%	£521,495	32.4%	£393,890	-25.3%	£527,506	32.1%	£399,332
Total Current Liabilities	£2,023,710	-15%	£2,381,680	4.7%	£2,274,993	14.3%	£1,989,965	13.5%	£1,753,382
Bank Loans & Overdrafts and LTL	£3,373,305	-7.6%	£3,651,641	4.4%	£3,498,829	12.3%	£3,115,152	48.3%	£2,101,165
Other Long Term Finance	£227,450	63%	£139,533	-34.4%	£212,783	143.8%	£87,278	-19.2%	£108,034
Total Long Term Liabilities	£3,010,873	-1.3%	£3,049,203	24.6%	£2,448,092	3.7%	£2,360,684	69.2%	£1,395,206

.

Capital & Reserves

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Called Up Share Capital	£273,000	-	£273,000	-	£273,000	-	£273,000	-	£273,000
P & L Account Reserve	£1,621,247	6.3%	£1,524,476	-34.5%	£2,329,046	-10.4%	£2,600,801	-27.8%	£3,603,986
Revaluation Reserve	£403,897	-	£403,897	-	£403,897	-27%	£553,623	-63.9%	£1,532,145
Sundry Reserves	£772	-	£772	-	£772	-	£772	-	£772
Shareholder Funds	£2,298,916	4.4%	£2,202,145	-26.8%	£3,006,715	-12.3%	£3,428,196	-36.6%	£5,409,903

Other Financial Items

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Worth	£2,250,056	7.6%	£2,090,237	-26.2%	£2,831,759	-11.2%	£3,190,192	-37.6%	£5,108,851
Working Capital	£1,876,010	5.4%	£1,780,668	2.7%	£1,733,908	-20.7%	£2,186,763	-0.2%	£2,190,138
Total Assets	£7,333,499	-3.9%	£7,633,028	-1.3%	£7,729,800	-0.6%	£7,778,845	-9.1%	£8,558,491
Total Liabilities	£5,034,583	-7.3%	£5,430,883	15%	£4,723,085	8.6%	£4,350,649	38.2%	£3,148,588
Net Assets	£2,298,916	4.4%	£2,202,145	-26.8%	£3,006,715	-12.3%	£3,428,196	-36.6%	£5,409,903

Cash Flow

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Cashflow from Operations	£643,970	-2.6%	£661,480	553%	£101,301	-79.4%	£492,403	-4.8%	£517,105
Net Cashflow before Financing	£509,469	-12.4%	£581,460	597.3%	-£116,919	-162.9%	£185,807	-59.8%	£461,968
Net Cashflow from Financing	-£212,506	-200.2%	£212,000	204.9%	-£202,161	-18.5%	-£170,619	15.9%	-£202,970
Increase in Cash	£296,963	-62.6%	£793,460	348.7%	-£319,080	-999.9%	£15,188	-94.1%	£258,998

Miscellaneous

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Contingent Liability	YES	-	YES	-	YES	-	YES	-	YES
Capital Employed	£5,309,789	1.1%	£5,251,348	-3.7%	£5,454,807	-5.8%	£5,788,880	-14.9%	£6,805,109
Number of Employees	123	0.8%	122	-1.6%	124	-	124	-4.6%	130

Auditors	NORMAN J WIGLEY & PARTNERS
Auditor Comments	The audit report contains no adverse comments
Bankers	HSBC BANK PLC
Bank Branch Code

Ratios

Date Of Accounts	31/12/13	31/12/12	31/12/11	31/12/10	31/12/09
Pre-tax profit margin %	1.94	1.78	-3.20	5.37	-3.47
Current ratio	1.93	1.75	1.76	2.10	2.25
Sales/Net Working Capital	4.73	4.89	4.80	3.64	3.50
Gearing %	146.70	165.80	116.40	90.90	38.80
Equity in %	31.60	29.30	39.80	45.50	65.50
Creditor Days	24.74	31.14	31.06	28.80	27.68
Debtor Days	58.50	59.90	55.48	59.75	54.10
Liquidity/Acid Test	0.94	0.78	0.78	0.93	0.96
Return On Capital Employed %	3.24	2.94	-4.88	7.38	-3.91
Return On Total Assets Employed %	2.35	2.02	-3.44	5.49	-3.11
Current Debt Ratio	0.88	1.08	0.75	0.58	0.32
Total Debt Ratio	2.18	2.46	1.57	1.26	0.58
Stock Turnover Ratio %	22.42	26.30	26.71	29.21	29.31
Return on Net Assets Employed %	7.49	7.03	-8.86	12.47	-4.92

Report Notes

There are no notes to display.

*Status History

Date	Description
03/04/2015	Appointment of Liquidator
01/04/2015	Declaration of Solvency
20/03/2015	App/Liquidator Members (Gaz)
19/03/2015	Appointment of Liquidator	View Details

Event History

Date	Description
03/03/2015	Mr M.J. Wigley has left the board
30/01/2015	New Board Member Mr M.J. Wigley appointed
02/11/2014	Annual Returns
30/09/2014	New Accounts Filed
30/09/2014	New Accounts Filed
06/11/2013	Annual Returns
28/09/2013	New Accounts Filed
28/09/2013	New Accounts Filed
07/11/2012	Annual Returns
02/10/2012	New Accounts Filed
02/10/2012	New Accounts Filed
07/11/2011	Annual Returns
28/09/2011	New Accounts Filed
28/09/2011	New Accounts Filed
05/11/2010	Annual Returns

Previous Company Names

Date	Previous Name
31/12/1978	ARMAC MANUFACTURING (BRASSFOUNDERS) LIMITED

Writ Details

No writs found

Statistics

Group	8 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	ARMAC BRASSFOUNDERS GROUP LIMITED
Ownership Status	Ultimately Owned
Ultimate Holding Company	ARMAC BRASSFOUNDERS GROUP LIMITED

Group StructureFull

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
ARMAC BRASSFOUNDERS GROU...	00523440	31.12.2013	Y	£8,871,994
BRASS TURNED PARTS LIM...	00573992	31.12.2013	N
ARMAC MANUFACTURING (B...	01348284	31.12.2013	N	£4,565,881
S. & J. MARTIN (FURN...	01353697	31.12.2013	N
MARTIN AND CO. (AR...	01198255	31.12.2013	N
FRANK ALLART & COMPANY...	00398726	31.12.2013	N	£4,390,736
DUNTON AND MARSTON LIM...	00400770	31.12.2013	N
H.MCGRAIL AND SONS LIM...	00683693	31.12.2013	N
Description
Appointment of Liquidators
Timothy Frank Corfield
Griffin & King
26-28 Goodall Street  Walsall  West Midlands
WS1 1QL

2nd Liquidator Name:
Liquidator Company:
Address:
Post Code
Status Date:	06/03/15
Appointed:	Members
Gazette Entry Date:	19/03/15
Gazette Page:	0000005091

Mortgage Details

Mortgage Type:	FIXED AND FLOATING CHARGE
Date Charge Created:	29/01/96
Date Charge Registered:	31/01/96
Date Charge Satisfied:	03/03/15
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC;
Amount Secured:
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL GOODWILL BOOKDEBTS AND PATENTS FIXED CHARGE ON ALL GOODWILL AND UNCALLED CAPITAL FOR THE TIME BEING OF THE COMPANY; AND ALL PATENTS PATENT APPLICATIONSINVENTIONS TRADE MARKS TRADE NAMES ETC
Mortgage Type:	FLOATING CHARGE
Date Charge Created:	01/04/71
Date Charge Registered:	14/04/71
Date Charge Satisfied:	03/03/15
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK LTD;
Amount Secured:
Details:	FLOATING CHARGE ONUNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE INCLUDING UNCALLED CAPITAL

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Bryan John McGrail	0	7
Damian Joseph Knowles	0	7
Damian Joseph Knowles	0	7
Kathleen Margot McGrail	0	1
Michael James Wigley	1	3
Average Invoice Value		n/a
Invoices available		n/a
Paid		n/a
Outstanding		n/a

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.39
UK Pound	1	Rs.91.06
Euro	1	Rs.66.16

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	ANK

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.