MIRA INFORM REPORT

 

 

Report No. :

317884

Report Date :

20.04.2015

 

IDENTIFICATION DETAILS

 

Name :

PG PAPER COMPANY LTD

 

 

Registered Office :

The Stables, Auchenbothie Gardens Kilmacolm Pa13 4SF

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

30.09.2003

 

 

Com. Reg. No.:

SC256809

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Manufacture of Paper and Paperboard

 

 

No. of Employees :

9

 

 

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

 

 

Company summary

 

Registered Address

The Stables
Auchenbothie Gardens
Kilmacolm
Pa13 4sf

Trading Address

The Stables
Auchenbothie
Port Glasgow Road
Kilmacolm, Renfrewshire
PA13 4SF

Website Address

http://www.pgpaper.com

Company number

SC256809

Telephone Number

01505874266

Fax Number

--

TPS

Yes

FPS

No

Incorporation Date

30/09/2003

Type

Private limited with Share Capital

Date of Change

--

Filing Date of Accounts

24/12/2014

Currency

GBP

Share Capital

£2

SIC07

17120

Charity Number

--

SIC07 Description

MANUFACTURE OF PAPER AND PAPERBOARD

Principal Activity

Agents in sale of variety of goods.

 

 

Key Financials

 

Year to Date

 

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/03/2014

£20,363,531

£1,210,944

£3,740,999

9

31/03/2013

£19,100,735

£1,210,372

£2,866,968

7

31/03/2012

--

--

£2,037,464

--

 

 

Mortgage Summary

 

Total Mortgage 1

Outstanding      1

Satisfied           0

 

 

Trade debtors / bad debt summary

 

Total Number of Documented Trade       0

Total Value of Documented Trade          £0

 

 

Commentary

 

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 highly efficient use of assets.

The company has more cash than short term bank borrowings.

 

 

Current Directors

 

Name

Poonam Gupta

Date of Birth

17/08/1976

Officers Title

Ms

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

02/10/2003

Address

The Stables, Auchenbothie Gardens, Kilmacolm, PA13 4SF

 

Name

Puneet Gupta

Date of Birth

27/07/1974

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

02/10/2003

Address

The Stables, Auchenbothie Gardens, Kalmalolm, Renfrew, PA13 4SF

 

 

Current company secretary

 

Name

Puneet Gupta

Date of Birth

27/07/1974

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Company Secretary

Appointment Date

02/10/2003

Address

The Stables, Auchenbothie Gardens, Kalmalolm, Renfrew, PA13 4SF

 

 

Top 20 shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

POONAM GUPTA

GBP

1

ORDINARY

1

50

PUNEET GUPTA

GBP

1

ORDINARY

1

50

 

 

Profit & Loss

           

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

barchart-grey

Turnover

£20,363,531

6.6%

£19,100,735

-

-

-

-

-

-

barchart-grey

Export

-

-

-

-

-

-

-

-

-

barchart-grey

Cost of Sales

-

-

-

-

-

-

-

-

-

barchart-grey

Gross Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Wages & Salaries

£174,222

13.9%

£152,958

-

-

-

-

-

-

barchart-grey

Directors Emoluments

£27,003

-3%

£27,840

-

-

-

-

-

-

barchart-grey

Operating Profit

£1,210,944

0%

£1,210,372

-

-

-

-

-

-

barchart-grey

Depreciation

£18,317

0%

£18,321

-18.6%

£22,506

-5%

£23,701

-41.7%

£40,673

barchart-grey

Audit Fees

£3,000

-

£3,000

-

-

-

-

-

-

barchart-grey

Interest Payments

-

-

-

-

-

-

-

-

-

barchart-grey

Pre Tax Profit

£1,210,944

0%

£1,210,372

-

-

-

-

-

-

barchart-grey

Taxation

-£276,913

4.8%

-£290,868

-

-

-

-

-

-

barchart-grey

Profit After Tax

£934,031

1.6%

£919,504

-

-

-

-

-

-

barchart-grey

Dividends Payable

£60,000

-33.3%

£90,000

-

-

-

-

-

-

barchart-grey

Retained Profit

£874,031

5.4%

£829,504

-

-

-

-

-

-

 

 

 

Balance sheet

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

barchart-grey

Tangible Assets

£58,198

-3.5%

£60,320

-19.3%

£74,792

24.4%

£60,143

-25.3%

£80,495

barchart-grey

Intangible Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Fixed Assets

£58,198

-3.5%

£60,320

-19.3%

£74,792

24.4%

£60,143

-25.3%

£80,495

barchart-grey

Stock

£592,106

-11.8%

£670,952

-19.6%

£834,828

127.2%

£367,441

-47.2%

£695,698

barchart-grey

Trade Debtors

£5,640,061

90.9%

£2,953,824

81.8%

£1,624,568

-20.8%

£2,050,908

23.1%

£1,666,045

barchart-grey

Cash

£1,006,054

-49.3%

£1,984,145

41.9%

£1,398,757

116.8%

£645,058

999.9%

£36,751

barchart-grey

Other Debtors

£208,854

45.9%

£143,124

-

0

-

0

-

0

barchart-grey

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Current Assets

£7,447,075

29.5%

£5,752,045

49.1%

£3,858,153

25.9%

£3,063,407

27.7%

£2,398,494

barchart-grey

Trade Creditors

£1,945,024

24.3%

£1,564,895

-17.4%

£1,895,481

16.8%

£1,623,060

14.7%

£1,415,144

barchart-grey

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

barchart-grey

Other Short Term Finance

£7,074

-35.7%

£10,999

-

0

-

0

-

0

barchart-grey

Miscellaneous Current Liabilities

£1,812,176

32.3%

£1,369,503

-

0

-

0

-

0

barchart-grey

Total Current Liabilities

£3,764,274

27.8%

£2,945,397

55.4%

£1,895,481

16.8%

£1,623,060

14.7%

£1,415,144

barchart-grey

Bank Loans & Overdrafts and LTL

0

-

0

-

0

-

0

-

0

barchart-grey

Other Long Term Finance

0

-

0

-

0

-

0

-

0

barchart-grey

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

 

 

Capital & Reserves

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

barchart-grey

Called Up Share Capital

£2

-

£2

-

£2

-

£2

-

£2

barchart-grey

P & L Account Reserve

£3,740,997

30.5%

£2,866,966

40.7%

£2,037,462

35.8%

£1,500,488

41%

£1,063,843

barchart-grey

Revaluation Reserve

-

-

-

-

-

-

-

-

-

barchart-grey

Sundry Reserves

-

-

-

-

-

-

-

-

-

barchart-grey

Shareholder Funds

£3,740,999

30.5%

£2,866,968

40.7%

£2,037,464

35.8%

£1,500,490

41%

£1,063,845

 

 

Other financials items

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

barchart-grey

Net Worth

£3,740,999

30.5%

£2,866,968

40.7%

£2,037,464

35.8%

£1,500,490

41%

£1,063,845

barchart-grey

Working Capital

£3,682,801

31.2%

£2,806,648

43%

£1,962,672

36.3%

£1,440,347

46.5%

£983,350

barchart-grey

Total Assets

£7,505,273

29.1%

£5,812,365

47.8%

£3,932,945

25.9%

£3,123,550

26%

£2,478,989

barchart-grey

Total Liabilities

£3,764,274

27.8%

£2,945,397

55.4%

£1,895,481

16.8%

£1,623,060

14.7%

£1,415,144

barchart-grey

Net Assets

£3,740,999

30.5%

£2,866,968

40.7%

£2,037,464

35.8%

£1,500,490

41%

£1,063,845

 

 

Cash flow

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

barchart-grey

Net Cashflow from Operations

-£726,955

-188%

£826,134

-

-

-

-

-

-

barchart-grey

Net Cashflow before Financing

-£974,166

-264.6%

£591,884

-

-

-

-

-

-

barchart-grey

Net Cashflow from Financing

-£3,925

39.6%

-£6,496

-

-

-

-

-

-

barchart-grey

Increase in Cash

-£978,091

-267.1%

£585,388

-

-

-

-

-

-

 

 

Miscellaneous

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

barchart-grey

Capital Employed

£3,740,999

30.5%

£2,866,968

40.7%

£2,037,464

35.8%

£1,500,490

41%

£1,063,845

barchart-grey

Number of Employees

9

28.6%

7

-

-

-

-

-

-

Auditors

HENDERSON & CO

Auditor Comments

The audit report contains no adverse comments

Bankers

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/03/14

31/03/13

31/03/12

31/03/11

31/03/10

barchart-grey

Pre-tax profit margin %

5.95

6.34

-

-

-

barchart-grey

Current ratio

1.98

1.95

2.04

1.89

1.69

barchart-grey

Sales/Net Working Capital

5.53

6.81

-

-

-

barchart-grey

Gearing %

0

0

0

0

0

barchart-grey

Equity in %

49.80

49.30

51.80

48

42.90

barchart-grey

Creditor Days

34.76

29.82

-

-

-

barchart-grey

Debtor Days

100.81

56.29

-

-

-

barchart-grey

Liquidity/Acid Test

1.82

1.72

1.59

1.66

1.20

barchart-grey

Return On Capital Employed %

32.36

42.21

-

-

-

barchart-grey

Return On Total Assets Employed %

16.13

20.82

-

-

-

barchart-grey

Current Debt Ratio

1

1.02

0.93

1.08

1.33

barchart-grey

Total Debt Ratio

1

1.02

0.93

1.08

1.33

barchart-grey

Stock Turnover Ratio %

2.90

3.51

-

-

-

barchart-grey

Return on Net Assets Employed %

32.36

42.21

-

-

-

 

 

Event History

 

Date

Description

05/01/2015

New Accounts Filed

05/01/2015

New Accounts Filed

03/10/2014

Annual Returns

13/01/2014

New Accounts Filed

12/10/2013

Annual Returns

11/10/2013

Change in Reg.Office

09/01/2013

New Accounts Filed

05/10/2012

Annual Returns

04/01/2012

New Accounts Filed

10/11/2011

Annual Returns

10/01/2011

New Accounts Filed

17/11/2010

Annual Returns

22/12/2009

New Accounts Filed

22/12/2009

New Accounts Filed

18/12/2009

Annual Returns

 

 

Previous company names

 

No previous names found

 

 

Writ details

 

No writs found

 

 

Mortgage details

 

Mortgage Type:

FLOATING CHARGE

Date Charge Created:

18/03/05

Date Charge Registered:

05/04/05

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

HSBC BANK PLC

Amount Secured:

ALL SUMS DUE OR TO BECOME DUE

Details:

UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY INCLUDING UNCALLED CAPITAL

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

DUPORT DIRECTOR LIMITED

228

34189

DUPORT SECRETARY LIMITED

435

34622

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.35

UK Pound

1

Rs.93.10

Euro

1

Rs.67.13

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

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.