MIRA INFORM REPORT
|
Report No. : |
319536 |
|
Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
KNITWIRE EUROPE LIMITED |
|
|
|
|
Registered Office : |
Maspro House, Chadwick Road, Astmoor Industrial Estate, Runcorn, WA7 1PW |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
30.04.2014 |
|
|
|
|
Date of Incorporation : |
19.06.2003 |
|
|
|
|
Com. Reg. No.: |
04804864 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Manufacturing [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
|
|
|
|
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. 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
KNITWIRE EUROPE LIMITED
Address
MASPRO HOUSE, CHADWICK ROAD
ASTMOOR INDUSTRIAL ESTATE
RUNCORN
WA7 1PW
Company
No
04804864
Company
Status
Active - Accounts Filed
Company
summary
Registered Address MASPRO HOUSE,
CHADWICK Trading Address Maspro House
ROAD Chadwick
Road
ASTMOOR
INDUSTRIAL Astmoor Industrial
Estate
ESTATE Runcorn,
Cheshire
RUNCORN WA7
1PW
WA7 1PW Website Address http://www.knitwire.com
Telephone Number 01928566996
Fax Number TPS
No
FPS No Incorporation Date 19/06/2003
Previous Name
Type Private limited with
Share Capital
FTSE Index - Date of Change -
Filing Date of Accounts 23/01/2015 Currency GBP
Share Capital £100 SIC07 32990
Charity Number - SIC07 Description
OTHER MANUFACTURING N.E.C. Principal Activity Manufacturing.
Mortgage Summary
Total Mortgage 0
Outstanding 0
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 Small company in respect of the rating/limit generated.
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.
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 1
Current
Directors
|
Name |
Stephen Mark
Forber |
Date of Birth |
10/06/1955 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
10 |
Function |
Director |
|
Appointment Date |
19/06/2003 |
||
|
Address |
The Poplars, Knutsford Road, Grappenhall,
Warrington, Cheshire, WA4 3LB |
||
|
Name |
Audrey Mary
Forber |
Date of Birth |
08/11/1930 |
|
Officers Title |
Mrs |
Nationality |
British |
|
Present
Appointments |
4 |
Function |
Director |
|
Appointment Date |
19/06/2003 |
||
|
Address |
Tresco 14 Montclare Crescent, Stockton
Heath, Warrington, Cheshire, WA4 2BN |
||
|
Name |
Timothy Forber |
Date of Birth |
07/12/1986 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
2 |
Function |
Director |
|
Appointment Date |
07/12/2014 |
||
|
Address |
Maspro House, Chadwick Road, Astmoor
Industrial Estate, Runcorn, Cheshire, WA7 1PW |
||
Current
Company Secretary
|
Name |
Stephen Mark Forber |
Date of Birth |
10/06/1955 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
10 |
Function |
Company Secretary |
|
Appointment Date |
19/06/2003 |
||
|
Address |
The Poplars, Knutsford Road, Grappenhall, Warrington, Cheshire, WA4
3LB |
||
Top
20 Shareholders
|
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share
Count |
|
|
STEPHEN FORBER |
GBP |
60 |
ORDINARY |
1 |
60 |
|
AUDREY MARY FORBER |
GBP |
25 |
ORDINARY |
1 |
25 |
|
TIMOTHY FORBER |
GBP |
15 |
ORDINARY |
1 |
15 |
Profit & Loss
|
Date Of Accounts |
30/04/14 |
(%) |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
|
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
|
|
Turnover |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Cost of Sales |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Gross Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Wages & Salaries |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Directors Emoluments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Operating Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Depreciation |
£955 |
-25.4% |
£1,281 |
208.7% |
£415 |
- |
£415 |
-25.1% |
£554 |
|
|
Audit Fees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Interest Payments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Pre Tax Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Taxation |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Profit After Tax |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Retained Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Balance
Sheet
|
Date Of Accounts |
30/04/14 |
(%) |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
|
|
|
Tangible Assets |
£2,819 |
-25.3% |
£3,774 |
231.3% |
£1,139 |
-8.6% |
£1,246 |
-25% |
£1,661 |
|
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Fixed Assets |
£2,819 |
-25.3% |
£3,774 |
231.3% |
£1,139 |
-8.6% |
£1,246 |
-25% |
£1,661 |
|
|
Stock |
£120 |
-25% |
£160 |
-24.9% |
£213 |
-24.7% |
£283 |
-25.3% |
£379 |
|
|
Trade Debtors |
£226,287 |
10.7% |
£204,404 |
-50.8% |
£415,142 |
123% |
£186,155 |
52.2% |
£122,305 |
|
|
Cash |
£137,079 |
103.8% |
£67,262 |
-40.6% |
£113,326 |
-1.6% |
£115,155 |
107.8% |
£55,411 |
|
|
Other Debtors |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Current Assets |
£363,486 |
33.7% |
£271,826 |
-48.6% |
£528,681 |
75.3% |
£301,593 |
69.3% |
£178,095 |
|
|
Trade Creditors |
£112,675 |
3.3% |
£109,025 |
-67.2% |
£332,241 |
93.2% |
£171,972 |
334.1% |
£39,614 |
|
|
Bank Loans & Overdrafts |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Short Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Miscellaneous Current Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Current Liabilities |
£112,675 |
3.3% |
£109,025 |
-67.2% |
£332,241 |
93.2% |
£171,972 |
334.1% |
£39,614 |
|
|
Bank Loans & Overdrafts and LTL |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Long Term Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
.
Capital
& Reserves
|
Date Of Accounts |
30/04/14 |
(%) |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
|
|
|
Called Up Share Capital |
£100 |
- |
£100 |
- |
£100 |
- |
£100 |
- |
£100 |
|
|
P & L Account Reserve |
£253,530 |
52.3% |
£166,475 |
-15.7% |
£197,479 |
51% |
£130,767 |
-6.6% |
£140,042 |
|
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Shareholder Funds |
£253,630 |
52.3% |
£166,575 |
-15.7% |
£197,579 |
51% |
£130,867 |
-6.6% |
£140,142 |
Other
Financial Items
|
Date Of Accounts |
30/04/14 |
(%) |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
|
|
|
Net Worth |
£253,630 |
52.3% |
£166,575 |
-15.7% |
£197,579 |
51% |
£130,867 |
-6.6% |
£140,142 |
|
|
Working Capital |
£250,811 |
54.1% |
£162,801 |
-17.1% |
£196,440 |
51.5% |
£129,621 |
-6.4% |
£138,481 |
|
|
Total Assets |
£366,305 |
32.9% |
£275,600 |
-48% |
£529,820 |
75% |
£302,839 |
68.5% |
£179,756 |
|
|
Total Liabilities |
£112,675 |
3.3% |
£109,025 |
-67.2% |
£332,241 |
93.2% |
£171,972 |
334.1% |
£39,614 |
|
|
Net Assets |
£253,630 |
52.3% |
£166,575 |
-15.7% |
£197,579 |
51% |
£130,867 |
-6.6% |
£140,142 |
Cash
Flow
|
Date Of Accounts |
30/04/14 |
(%) |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
|
|
|
Net Cashflow from Operations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Net Cashflow before Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Net Cashflow from Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Increase in Cash |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Miscellaneous
|
Date Of Accounts |
30/04/14 |
(%) |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
|
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
|
|
Capital Employed |
£253,630 |
52.3% |
£166,575 |
-15.7% |
£197,579 |
51% |
£130,867 |
-6.6% |
£140,142 |
|
|
Number of Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Auditors |
||||||||||
|
Auditor Comments |
The company is exempt from audit |
|||||||||
|
Bankers |
||||||||||
|
Bank Branch Code |
||||||||||
Ratios
|
Date Of Accounts |
30/04/14 |
30/04/13 |
30/04/12 |
30/04/11 |
30/04/10 |
|
|
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
|
Current ratio |
3.23 |
2.49 |
1.59 |
1.75 |
4.50 |
|
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
|
Gearing % |
0 |
0 |
0 |
0 |
0 |
|
|
Equity in % |
69.20 |
60.40 |
37.30 |
43.20 |
78 |
|
|
Creditor Days |
- |
- |
- |
- |
- |
|
|
Debtor Days |
- |
- |
- |
- |
- |
|
|
Liquidity/Acid Test |
3.22 |
2.49 |
1.59 |
1.75 |
4.48 |
|
|
Return On Capital Employed % |
- |
- |
- |
- |
- |
|
|
Return On Total Assets Employed % |
- |
- |
- |
- |
- |
|
|
Current Debt Ratio |
0.44 |
0.65 |
1.68 |
1.31 |
0.28 |
|
|
Total Debt Ratio |
0.44 |
0.65 |
1.68 |
1.31 |
0.28 |
|
|
Stock Turnover Ratio % |
- |
- |
- |
- |
- |
|
|
Return on Net Assets Employed % |
- |
- |
- |
- |
- |
Report
Notes
There are no notes to display.
Status
History
No Status History found
Event
History
|
Date |
Description |
|
17/03/2015 |
New Board Member Mr T. Forber appointed |
|
27/01/2015 |
New Accounts Filed |
|
06/06/2014 |
Annual Returns |
|
16/12/2013 |
New Accounts Filed |
|
13/06/2013 |
Annual Returns |
|
04/02/2013 |
New Accounts Filed |
|
29/06/2012 |
Annual Returns |
|
09/02/2012 |
New Accounts Filed |
|
06/07/2011 |
Annual Returns |
|
05/07/2011 |
Mr E. Forber has left the board |
|
25/01/2011 |
New Accounts Filed |
|
21/07/2010 |
Annual Returns |
|
04/02/2010 |
New Accounts Filed |
|
24/06/2009 |
Annual Returns |
|
03/03/2009 |
New Accounts Filed |
Previous
Company Names
Writ
Details
No writs found
Statistics
Group -
Linkages 0 companies
Countries In 0
countries
Summary
Holding Company -
Ownership Status
Ultimate Holding Company –
Group
Structure
No Group Structure
Previous
Director/Company Secretaries
|
Name |
Current
Directorships |
Previous Directorships |
|
Eric Forber |
2 |
2 |
|
Average Invoice Value |
£169.21 |
|
Invoices available |
21 |
|
Paid |
21 |
|
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 |
1 |
19 |
0 |
1 |
0 |
|
Outstanding |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.33 |
|
|
1 |
Rs.96.52 |
|
Euro |
1 |
Rs.69.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
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.