MIRA INFORM REPORT
|
Report No. : |
319538 |
|
Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
MWA INTERNATIONAL LIMITED |
|
|
|
|
Formerly Known As : |
MAC ELECTRODES
LIMITED |
|
|
|
|
Registered Office : |
Bridge Street Wednesbury West Midlands Ws10 0aw |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
25.08.1969 |
|
|
|
|
Com. Reg. No.: |
00960787 |
|
|
|
|
Legal Form : |
Private limited
with Share Capital |
|
|
|
|
Line of Business : |
Subject is manufacture
of wire products, chain and springs |
|
|
|
|
No. of Employee : |
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 : |
Slow but correct |
|
|
|
|
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
MWA
INTERNATIONAL LIMITED
Company
No
00960787
Company
Status
Active -
Accounts Filed
Registered
Address
BRIDGE STREET WEDNESBURY WEST MIDLANDS WS10 0AW
Company Summary
Registered Address
BRIDGE STREET
WEDNESBURY
WEST MIDLANDS
WS10 0AW
Trading Address
MWA INTERNATIONAL LIMITED
Bridge Street
Wednesbury
West Midlands
WS10 0AW
Website Address
http://www.mwa-international.com
Telephone
Number
01215566366
Fax Number
TPS No
FPS No
Incorporation
Date 25/08/1969
Previous Name
MAC ELECTRODES LIMITED
Type Private limited with Share Capital
FTSE Index -
Date of
Change 28/07/1988
Filing Date
of Accounts 23/05/2014
Currency GBP
Share Capital
£2
SIC07 25930
Charity
Number -
SIC07
Description MANUFACTURE OF WIRE PRODUCTS, CHAIN AND
SPRINGS
Principal
Activity Manufacture of wire products.
Key
Financials
Year to Date Turnover Pre Tax Profit Shareholder
Funds Employees
31/12/2013 - - £54,722
-
31/12/2012 - - £85,262
-
31/12/2011 - - £93,831
-
Mortgage
Summary
Total
Mortgage 2
Outstanding 1
Satisfied 1
Trade
Debtors / Bad Debt Summary
Total Number
of Documented Trade 2
Total Value
of Documented Trade £1,198
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 are considered to be low in terms of the overall outstanding creditor
obligations. |
|
|
There has been
a reduction 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 |
2 |
|
Total Current
Secretaries |
1 |
|
Total Previous
Directors / Company Secretaries |
4 |
Current
Directors
|
Name |
Neil Anthony
Collett |
Date of
Birth |
13/08/1967 |
|
Officers
Title |
Mr |
Nationality |
British |
|
Present
Appointments |
6 |
Function |
Director |
|
Appointment
Date |
31/03/2000 |
||
|
Address |
Fields Farm,
Featherbed Lane, Hunt End, Worcestershire, B97 5QL |
||
|
Name |
Shaun
Godbehere |
Date of
Birth |
05/07/1961 |
|
Officers
Title |
Mr |
Nationality |
British |
|
Present
Appointments |
1 |
Function |
Director |
|
Appointment
Date |
01/04/2000 |
||
|
Address |
36 Cotswold
Road, Hillsborough, Sheffield, South Yorkshire, S6 4QZ |
||
Current
Company Secretary
|
Name |
Michael
Windsor Collett |
Date of
Birth |
21/11/1936 |
|
Officers
Title |
Mr |
Nationality |
British |
|
Present
Appointments |
4 |
Function |
Company
Secretary |
|
Appointment
Date |
24/05/2000 |
||
|
Address |
The Quineys, Alfreds
Well Dodford, Bromsgrove, Worcestershire, B61 9BB |
||
Top
20 Shareholders
|
Currency |
Share Count |
Share Type |
Nominal
Value |
% of Total
Share Count |
|
|
TRUSTEES OF
NEIL COLLETT SETTLEMENT |
GBP |
1 |
ORDINARY |
1 |
50 |
|
NEIL ANTHONY
COLLETT |
GBP |
1 |
ORDINARY |
1 |
50 |
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 |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Gross Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Wages &
Salaries |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Directors
Emoluments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating
Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Depreciation |
£3,076 |
-10.1% |
£3,420 |
3.9% |
£3,292 |
1.3% |
£3,251 |
44.7% |
£2,247 |
|
Audit Fees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Interest
Payments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Pre Tax
Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Profit After
Tax |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Dividends
Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained
Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Balance
Sheet
|
Date Of
Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Tangible
Assets |
£328,665 |
-0.9% |
£331,741 |
0.4% |
£330,288 |
-0.1% |
£330,608 |
0.3% |
£329,649 |
|
Intangible
Assets |
£25,200 |
-13.1% |
£29,000 |
-11.6% |
£32,800 |
-10.4% |
£36,600 |
-9.4% |
£40,400 |
|
Total Fixed
Assets |
£353,865 |
-1.9% |
£360,741 |
-0.6% |
£363,088 |
-1.1% |
£367,208 |
-0.8% |
£370,049 |
|
Stock |
£264,397 |
-11% |
£296,918 |
6% |
£280,063 |
-0.1% |
£280,300 |
17.2% |
£239,126 |
|
Trade Debtors |
£103,321 |
-6.9% |
£110,924 |
-16.8% |
£133,280 |
2.1% |
£130,516 |
18.1% |
£110,475 |
|
Cash |
£43 |
-93.4% |
£649 |
-94.3% |
£11,468 |
999.9% |
£908 |
-40% |
£1,513 |
|
Other Debtors |
£53,642 |
- |
0 |
- |
0 |
- |
0 |
-100% |
£4,738 |
|
Miscellaneous
Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total
Current Assets |
£421,403 |
3.2% |
£408,491 |
-3.8% |
£424,811 |
3.2% |
£411,724 |
15.7% |
£355,852 |
|
Trade
Creditors |
£170,422 |
37.8% |
£123,659 |
-13.7% |
£143,225 |
24.4% |
£115,162 |
52.6% |
£75,474 |
|
Bank Loans
& Overdrafts |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short
Term Finance |
£9,281 |
7.3% |
£8,651 |
- |
0 |
-100% |
£20,254 |
- |
0 |
|
Miscellaneous
Current Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total
Current Liabilities |
£179,703 |
35.8% |
£132,310 |
-7.6% |
£143,225 |
5.8% |
£135,416 |
79.4% |
£75,474 |
|
Bank Loans
& Overdrafts and LTL |
£540,843 |
-2% |
£551,660 |
0.1% |
£550,843 |
- |
£550,843 |
- |
£550,843 |
|
Other Long
Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long
Term Liabilities |
£540,843 |
-2% |
£551,660 |
0.1% |
£550,843 |
- |
£550,843 |
- |
£550,843 |
.
Capital
& Reserves
|
Date Of
Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Called Up
Share Capital |
£2 |
- |
£2 |
- |
£2 |
- |
£2 |
- |
£2 |
|
P & L
Account Reserve |
£54,720 |
-35.8% |
£85,260 |
-9.1% |
£93,829 |
1.2% |
£92,671 |
-6.9% |
£99,582 |
|
Revaluation
Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry
Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder
Funds |
£54,722 |
-35.8% |
£85,262 |
-9.1% |
£93,831 |
1.2% |
£92,673 |
-6.9% |
£99,584 |
Other
Financial Items
|
Date Of
Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Net Worth |
£29,522 |
-47.5% |
£56,262 |
-7.8% |
£61,031 |
8.8% |
£56,073 |
-5.3% |
£59,184 |
|
Working
Capital |
£241,700 |
-12.5% |
£276,181 |
-1.9% |
£281,586 |
1.9% |
£276,308 |
-1.5% |
£280,378 |
|
Total
Assets |
£775,268 |
0.8% |
£769,232 |
-2.4% |
£787,899 |
1.2% |
£778,932 |
7.3% |
£725,901 |
|
Total
Liabilities |
£720,546 |
5.3% |
£683,970 |
-1.5% |
£694,068 |
1.1% |
£686,259 |
9.6% |
£626,317 |
|
Net Assets |
£54,722 |
-35.8% |
£85,262 |
-9.1% |
£93,831 |
1.2% |
£92,673 |
-6.9% |
£99,584 |
Cash
Flow
|
Date Of
Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Net Cashflow
from Operations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow
before Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow
from Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Increase in
Cash |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Miscellaneous
|
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 |
£595,565 |
-6.5% |
£636,922 |
-1.2% |
£644,674 |
0.2% |
£643,516 |
-1.1% |
£650,427 |
|
Number of
Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Auditors |
|||||||||
|
Auditor
Comments |
The company is
exempt from audit |
||||||||
|
Bankers |
BARCLAYS 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 % |
- |
- |
- |
- |
- |
|
Current ratio |
2.34 |
3.09 |
2.97 |
3.04 |
4.71 |
|
Sales/Net Working
Capital |
- |
- |
- |
- |
- |
|
Gearing % |
988.30 |
647 |
587.10 |
594.40 |
553.10 |
|
Equity in % |
7.30 |
11.50 |
12.40 |
12.50 |
14.50 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid
Test |
0.87 |
0.84 |
1.01 |
0.97 |
1.54 |
|
Return On
Capital Employed % |
- |
- |
- |
- |
- |
|
Return On
Total Assets Employed % |
- |
- |
- |
- |
- |
|
Current Debt
Ratio |
3.28 |
1.55 |
1.52 |
1.46 |
0.75 |
|
Total Debt
Ratio |
13.16 |
8.02 |
7.39 |
7.40 |
6.28 |
|
Stock Turnover
Ratio % |
- |
- |
- |
- |
- |
|
Return on Net
Assets Employed % |
- |
- |
- |
- |
- |
Event History
|
Date |
Description |
|
02/06/2014 |
New Accounts
Filed |
|
02/06/2014 |
New Accounts
Filed |
|
03/05/2014 |
Annual Returns |
|
10/05/2013 |
New Accounts
Filed |
|
08/04/2013 |
Annual Returns |
|
21/05/2012 |
New Accounts
Filed |
|
01/05/2012 |
Annual Returns |
|
27/06/2011 |
New Accounts
Filed |
|
27/06/2011 |
New Accounts
Filed |
|
09/04/2011 |
Annual Returns |
|
07/09/2010 |
New Accounts
Filed |
|
29/07/2010 |
Mr I.D.
Edwards has left the board |
|
29/06/2010 |
Annual Returns |
|
30/06/2009 |
New Accounts
Filed |
|
14/06/2009 |
Annual Returns |
Previous
Company Names
|
Date |
Previous
Name |
|
28/07/1988 |
MAC ELECTRODES
LIMITED |
Statistics
|
Group |
3 companies |
|
Linkages |
0 companies |
|
Countries |
In 0 countries
|
Summary
|
Holding
Company |
MWA
INTERNATIONAL LIMITED |
|
Ownership
Status |
Ultimately
Owned |
|
Ultimate Holding
Company |
MWA
INTERNATIONAL LIMITED |
Group
Structure Full
|
Company
Name |
Registered
Number |
Latest Key
Financials |
Consol.
Accounts |
Turnover |
|
|
|
|
00960787 |
31.12.2013 |
N |
|
|
|
|
00965394 |
31.12.2013 |
N |
|
|
|
|
01875603 |
31.12.2013 |
N |
|
Group |
3 companies |
|
Linkages |
0 companies |
|
Countries |
In 0 countries
|
Mortgage
Details
|
Mortgage
Type: |
DEBENTURE |
||
|
Date Charge
Created: |
24/05/00 |
||
|
Date Charge
Registered: |
26/05/00 |
||
|
Date Charge
Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s)
Entitled: |
MICHAEL
WINDSOR COLLETT |
||
|
Amount
Secured: |
£395,000 DUE OR
TO BECOME DUE FROM THE COMPANY TO THE CHARGEE |
||
|
Details: |
UNDERTAKING
AND ALL PROPERTY AND ASSETS |
||
|
Mortgage
Type: |
DEBENTURE |
||
|
Date Charge
Created: |
15/04/96 |
||
|
Date Charge
Registered: |
03/05/96 |
||
|
Date Charge
Satisfied: |
26/05/00 |
||
|
Status: |
SATISFIED |
||
|
Person(s)
Entitled: |
MAC ELECTRODES
LIMITED |
||
|
Amount
Secured: |
ALL MONIES DUE
OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
NOT EXCEEDING £250,000 |
||
|
Details: |
UNDERTAKING AND
ALL PROPERTY AND ASSETSPRESENT AND FUTURE INCLUDING UNCALLED CAPITAL |
||
Creditor Details
|
Total Number |
Total Value |
|
|
Trade
Creditors |
0 |
- |
|
No Creditor
Data |
||
Trade
Debtors / Bad Debt Detail
|
Total Number of Documented Trade |
Total Value of Documented Trade |
|
|
|
Trade Debtors |
2 |
£1,198 |
|
|
Company
Name |
Amount |
Statement
Date |
|
|
Total
Engineering & Welding Supplies Limited |
£918 |
27/05/2010 |
|
|
Midland
Surface Engineering Ltd |
£280 |
31/01/2012 |
|
previous
Director/Company Secretaries
|
Name |
Current
Directorships |
Previous
Directorships |
|
Michael
Windsor Collett |
4 |
2 |
|
Neil Anthony Collett |
6 |
2 |
|
Steven Martyn
Collett |
0 |
3 |
|
Ian Derek
Edwards |
0 |
2 |
|
Average
Invoice Value |
£428.48 |
|
|
Invoices
available |
22 |
|
|
Paid |
22 |
|
|
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 |
18 |
2 |
0 |
2 |
0 |
|
Outstanding |
0 |
0 |
0 |
0 |
0 |
ss
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.33 |
|
|
1 |
Rs.96.52 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.