MIRA INFORM REPORT

 

 

Report No. :

319479

Report Date :

29.04.2015

 

IDENTIFICATION DETAILS

 

Name :

MATERIALS HANDLING PRODUCTS LIMITED

 

 

Registered Office :

14 Ryder Close, Cadley Hill Industrial Estate, Swadlincote, DE11 9EU

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

30.07.1991

 

 

Com. Reg. No.:

02633365

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Manufacture of other rubber products, manufacture of lift and handling equipment, manufacture machines for mining, quarry.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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 and address

 

MATERIALS HANDLING PRODUCTS LIMITED

 

 

Address

 

14 RYDER CLOSE

CADLEY HILL INDUSTRIAL ESTATE

SWADLINCOTE

DE11 9EU

 

Company No

 

02633365

 

 

Company Status

 

Active - Accounts Filed

 

 

Company Summary

 

Registered Address      14 RYDER CLOSE                    Trading Address          Unit 14

CADLEY HILL INDUSTRIAL                                            Cadley Hill Industrial Estate

ESTATE                                                                        Ryder Close

SWADLINCOTE                                                             Swadlincote, Derbyshire

DE11 9EU                                                                     DE11 9EU

Website Address          http://www.m-h-p.co.uk

Telephone Number       01283226624                             Fax Number

TPS                              No                                            FPS                              No

Incorporation Date       30/07/1991

Previous Name Type    Private limited with Share Capital

FTSE Index                  -

Date of Change             -                                               Filing Date of Accounts 09/04/2015

Currency                      GBP                                         Share Capital               £10,500

SIC07                           22190                                       Charity Number            -

SIC07 Description        MANUFACTURE OF OTHER RUBBER PRODUCTS

Principal Activity          Manufacture of other rubber products, manufacture of lift and handling equipment, manufacture machines for mining, quarry


Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/12/2014

-

-

£342,499

-

31/12/2013

-

-

£276,676

-

31/12/2012

-

-

£216,828

-

 

Mortgage Summary

 

Total Mortgage                                                 3

Outstanding                                                     1

Satisfied                                                           2

 

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 made late payments on a high percentage of invoices.

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

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.

 

 

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

2

Total Current Secretaries

0

Total Previous Directors / Company Secretaries

4

 

 

Current Directors

 

Name

Rosemary MacKenzie

Date of Birth

03/03/1954

Officers Title

Ms

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

30/07/1991

Address

Skyfield, Sandy Lane, Crich, Derbyshire, DE4 5DE

 

Name

Brian MacKenzie

Date of Birth

17/08/1951

Officers Title

Mr

Nationality

British

Present Appointments

3

Function

Director

Appointment Date

30/07/1991

Address

Skyfield, Sandy Lane, Crich, Matlock, Derbyshire, DE4 5DE

 

 

Current Company Secretary

 

--

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

BRIAN MACKENZIE

GBP

5,000

ORDINARY A

1

47.62

ROSEMARY MACKENZIE

GBP

4,000

ORDINARY B

1

38.1

BRIAN MACKENZIE

GBP

1,000

ORDINARY B

1

9.52

BRIAN MACKENZIE

GBP

500

ORDINARY C

1

4.76

 

 

Profit & Loss

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

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

£16,387

-14.5%

£19,162

22.3%

£15,668

1.9%

£15,374

0.2%

£15,346

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Tangible Assets

£65,470

-13%

£75,272

9.2%

£68,921

-3.9%

£71,709

2.4%

£70,044

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£65,470

-13%

£75,272

9.2%

£68,921

-3.9%

£71,709

2.4%

£70,044

Stock

£419,839

-3.3%

£433,981

7.7%

£403,133

20.7%

£333,900

18.7%

£281,287

Trade Debtors

£404,012

7.6%

£375,615

45.6%

£257,933

-47.3%

£489,777

85.2%

£264,417

Cash

£725

296.2%

£183

-82.5%

£1,047

208.8%

£339

-38%

£547

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£824,576

1.8%

£809,779

22.3%

£662,113

-19.6%

£824,016

50.8%

£546,251

Trade Creditors

£541,100

-8.9%

£593,808

18.7%

£500,349

-26.6%

£682,106

65.4%

£412,304

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

£541,100

-8.9%

£593,808

18.7%

£500,349

-26.6%

£682,106

65.4%

£412,304

Bank Loans & Overdrafts and LTL

£6,447

-55.7%

£14,567

5.1%

£13,857

-12%

£15,738

-35.3%

£24,309

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

£6,447

-55.7%

£14,567

5.1%

£13,857

-12%

£15,738

-35.3%

£24,309

.

 

Capital & Reserves

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Called Up Share Capital

£10,500

-

£10,500

-

£10,500

-

£10,500

-

£10,500

P & L Account Reserve

£331,999

24.7%

£266,176

29%

£206,328

10.1%

£187,381

10.8%

£169,182

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£342,499

23.8%

£276,676

27.6%

£216,828

9.6%

£197,881

10.1%

£179,682

 

 

Other Financial Items

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Net Worth

£342,499

23.8%

£276,676

27.6%

£216,828

9.6%

£197,881

10.1%

£179,682

Working Capital

£283,476

31.3%

£215,971

33.5%

£161,764

14%

£141,910

5.9%

£133,947

Total Assets

£890,046

0.6%

£885,051

21.1%

£731,034

-18.4%

£895,725

45.3%

£616,295

Total Liabilities

£547,547

-10%

£608,375

18.3%

£514,206

-26.3%

£697,844

59.8%

£436,613

Net Assets

£342,499

23.8%

£276,676

27.6%

£216,828

9.6%

£197,881

10.1%

£179,682

Cash Flow

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

 

Miscellaneous

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£348,946

19.8%

£291,243

26.3%

£230,685

8%

£213,619

4.7%

£203,991

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

Auditor Comments

The company is exempt from audit

Bankers

LLOYDS TSB BANK PLC

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/12/14

31/12/13

31/12/12

31/12/11

31/12/10

Pre-tax profit margin %

-

-

-

-

-

Current ratio

1.52

1.36

1.32

1.21

1.32

Sales/Net Working Capital

-

-

-

-

-

Gearing %

1.90

5.30

6.40

8

13.50

Equity in %

38.50

31.30

29.70

22.10

29.20

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.74

0.63

0.51

0.71

0.64

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

1.57

2.14

2.30

3.44

2.29

Total Debt Ratio

1.59

2.19

2.37

3.52

2.42

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

13/04/2015

New Accounts Filed

09/08/2014

Annual Returns

10/03/2014

New Accounts Filed

10/08/2013

Annual Returns

22/03/2013

New Accounts Filed

11/08/2012

Annual Returns

23/04/2012

New Accounts Filed

27/03/2012

Change in Reg.Office

08/08/2011

Annual Returns

15/04/2011

New Accounts Filed

13/08/2010

Annual Returns

27/05/2010

New Accounts Filed

07/08/2009

Annual Returns

19/04/2009

New Accounts Filed

08/01/2009

Ms A.J. Lander has resigned as company secretary

 

 

Previous Company Names

 

No Previous Names found

 

 

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

 

 

Mortgage Details

 

Mortgage Type:

DEBENTURE

Date Charge Created:

19/11/01

Date Charge Registered:

29/11/01

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

CO-OPERATIVE BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THEDEBENTURE

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 MACHINERY

 

Mortgage Type:

SINGLE DEBENTURE

Date Charge Created:

07/07/95

Date Charge Registered:

13/07/95

Date Charge Satisfied:

22/11/01

Status:

SATISFIED

Person(s) Entitled:

LLOYDS BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

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 MACHINERY

 

Mortgage Type:

MORTGAGE DEBENTURE

Date Charge Created:

07/09/94

Date Charge Registered:

19/09/94

Date Charge Satisfied:

09/09/96

Status:

SATISFIED

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

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

Rosemary MacKenzie

2

1

Amanda Jane Lander

1

3

Amanda Jane Lander

1

3

SWIFT INCORPORATIONS LIMITED

2579

263489

 

 

Average Invoice Value

£456.57

Invoices available

25

Paid

22

Outstanding

3

 

 

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

2

5

11

4

0

Outstanding

1

2

0

0

0

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.33

UK Pound

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%)

 

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.