MIRA INFORM REPORT

 

 

Report No. :

319533

Report Date :

30.04.2015

 

IDENTIFICATION DETAILS

 

Name :

A.  D. BIRD STAINLESS LIMITED

 

 

Formerly Known As :

CARDFORD LIMITED

 

 

Registered Office :

Box Mill Sheffield Road, Penistone Sheffield, S. Yorks S36 6hq

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

29.09.1986

 

 

Com. Reg. No.:

02059404

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Wholesale of Metals and Metal Ores

 

 

No. of Employees :

15 [2013]

 

 

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 :

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 summary

 

Registered Address

Box Mill
Sheffield Road, Penistone
Sheffield, S. Yorks
S36 6hq

Trading Address

Box Mill
Sheffield Road
Penistone
Sheffield, South Yorkshire
S36 6HQ

Website Address

http://www.birdstst.com

FTSE Index

--

Telephone Number

01226766766

Fax Number

01226766841

TPS

No

FPS

Yes

Incorporation Date

29/09/1986

Company Number

02059404

Previous Name

CARDFORD LIMITED

Type

Private limited with Share Capital

Date of Change

02/01/1987

Filing Date of Accounts

09/09/2014

Currency

GBP

Share Capital

£23,000

SIC07

46720

Charity Number

--

SIC07 Description

WHOLESALE OF METALS AND METAL ORES

Principal Activity

Steel stockholding, specialized grinding work, bar saving and reheat treatment of stainless steels.

 

 

Key financials

 

Year to Date

 

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/03/2014

-

-

£4,497,951

-

31/03/2013

£5,548,859

£602,482

£4,127,033

15

31/03/2012

£6,874,254

£369,233

£3,658,901

15

 

 

Mortgage summary

 

Toto Mortgage              2

Outstanding                  2

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.

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.

 

 

 Current Directors

 

Name

Nigel Howard Bird

Date of Birth

27/12/1962

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

28/06/1991

Address

8 Norton Hall Stables, Norton Church Road, Sheffield, S8 8JQ

 

Name

Suzanne Jayne Talbot

Date of Birth

24/08/1966

Officers Title

Ms

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

28/06/1991

Address

32 Derwent Road, Dronfield, Derbyshire, S18 2FN

 

 

Current company secretary

 

Name

Nigel Howard Bird

Date of Birth

27/12/1962

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Company Secretary

Appointment Date

28/06/1991

Address

8 Norton Hall Stables, Norton Church Road, Sheffield, S8 8JQ

 

 

Top 20 shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

JOYCE CHRISTINE WILLIAMSON & AUDREY BIRD

GBP

13,000

ORDINARY

1

56.52

NIGEL HOWARD BIRD

GBP

5,000

ORDINARY

1

21.74

SUZANNE JAYNE TALBOT

GBP

5,000

ORDINARY

1

21.74

 

 

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

-

-

£5,548,859

-19.3%

£6,874,254

2.1%

£6,735,994

45.5%

£4,628,870

barchart-grey

Export

-

-

£237,929

-57.5%

£559,380

3.8%

£539,000

48.1%

£364,000

barchart-grey

Cost of Sales

-

-

-

-

-

-

-

-

-

barchart-grey

Gross Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Wages & Salaries

-

-

£440,925

-27.2%

£605,710

8.2%

£560,059

55.6%

£359,837

barchart-grey

Directors Emoluments

-

-

£157,555

-50.4%

£317,527

15.7%

£274,519

153.4%

£108,345

barchart-grey

Operating Profit

-

-

£602,046

64.8%

£365,315

28.1%

£285,241

126%

£126,215

barchart-grey

Depreciation

£48,504

-2.6%

£49,809

18.4%

£42,072

11.4%

£37,774

35.3%

£27,919

barchart-grey

Audit Fees

-

-100%

£5,620

-1.1%

£5,680

6.8%

£5,320

2.3%

£5,200

barchart-grey

Interest Payments

-

-

-

-

-

-

-

-100%

£101

barchart-grey

Pre Tax Profit

-

-

£602,482

63.2%

£369,233

29%

£286,212

126.6%

£126,328

barchart-grey

Taxation

-

-

-£134,350

-46.1%

-£91,989

-50.6%

-£61,092

-201.1%

-£20,288

barchart-grey

Profit After Tax

-

-

£468,132

68.9%

£277,244

23.2%

£225,120

112.3%

£106,040

barchart-grey

Dividends Payable

-

-

-

-

-

-

-

-

-

barchart-grey

Retained Profit

-

-

£468,132

68.9%

£277,244

23.2%

£225,120

112.3%

£106,040

 

 

Balance Sheet

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

barchart-grey

Tangible Assets

£658,928

96.6%

£335,226

42.2%

£235,744

-14.2%

£274,643

-3.5%

£284,652

barchart-grey

Intangible Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Fixed Assets

£658,928

96.6%

£335,226

42.2%

£235,744

-14.2%

£274,643

-3.5%

£284,652

barchart-grey

Stock

£4,429,567

20.3%

£3,683,588

26.1%

£2,921,264

20.2%

£2,429,791

-12.5%

£2,777,345

barchart-grey

Trade Debtors

£1,515,223

7.6%

£1,407,804

-20.2%

£1,763,642

-11%

£1,981,754

29.1%

£1,535,491

barchart-grey

Cash

£138,828

-20.2%

£173,880

-50.1%

£348,477

53.4%

£227,238

117.3%

£104,573

barchart-grey

Other Debtors

0

-100%

£22,435

10.5%

£20,306

11.2%

£18,258

4.8%

£17,428

barchart-grey

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Current Assets

£6,083,618

15.1%

£5,287,707

4.6%

£5,053,689

8.5%

£4,657,041

5%

£4,434,837

barchart-grey

Trade Creditors

£1,795,538

134.5%

£765,680

-35%

£1,178,816

10.8%

£1,063,943

36.3%

£780,624

barchart-grey

Bank Loans & Overdrafts

0

-100%

£27,000

-

0

-

0

-

0

barchart-grey

Other Short Term Finance

0

-100%

£289,978

25.3%

£231,391

-13.8%

£268,514

-41.4%

£457,948

barchart-grey

Miscellaneous Current Liabilities

0

-100%

£293,358

52.2%

£192,700

12.5%

£171,290

-9%

£188,325

barchart-grey

Total Current Liabilities

£1,795,538

30.5%

£1,376,016

-14.2%

£1,602,907

6.6%

£1,503,747

5.4%

£1,426,897

barchart-grey

Bank Loans & Overdrafts and LTL

£449,057

205.7%

£146,884

431.7%

£27,625

-40.3%

£46,281

-9.4%

£51,057

barchart-grey

Other Long Term Finance

0

-

0

-100%

£5,665

-81.3%

£30,230

-20.2%

£37,901

barchart-grey

Total Long Term Liabilities

£449,057

274.6%

£119,884

334%

£27,625

-40.3%

£46,281

-9.4%

£51,057

 

 

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

£23,000

-

£23,000

-

£23,000

-

£23,000

-8%

£25,000

barchart-grey

P & L Account Reserve

£4,472,951

9%

£4,102,033

12.9%

£3,633,901

8.3%

£3,356,656

4.4%

£3,216,535

barchart-grey

Revaluation Reserve

-

-

-

-

-

-

-

-

-

barchart-grey

Sundry Reserves

£2,000

-

£2,000

-

£2,000

-

£2,000

-

-

barchart-grey

Shareholder Funds

£4,497,951

9%

£4,127,033

12.8%

£3,658,901

8.2%

£3,381,656

4.3%

£3,241,535

 

 

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

£4,497,951

9%

£4,127,033

12.8%

£3,658,901

8.2%

£3,381,656

4.3%

£3,241,535

barchart-grey

Working Capital

£4,288,080

9.6%

£3,911,691

13.4%

£3,450,782

9.4%

£3,153,294

4.8%

£3,007,940

barchart-grey

Total Assets

£6,742,546

19.9%

£5,622,933

6.3%

£5,289,433

7.3%

£4,931,684

4.5%

£4,719,489

barchart-grey

Total Liabilities

£2,244,595

50%

£1,495,900

-8.3%

£1,630,532

5.2%

£1,550,028

4.9%

£1,477,954

barchart-grey

Net Assets

£4,497,951

9%

£4,127,033

12.8%

£3,658,901

8.2%

£3,381,656

4.3%

£3,241,535

 

 

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

-

-

-£116,334

-148.4%

£240,379

-33.5%

£361,225

-21%

£457,506

barchart-grey

Net Cashflow before Financing

-

100%

-£351,269

-292%

£182,927

-43.1%

£321,769

-15.8%

£381,994

barchart-grey

Net Cashflow from Financing

-

-

£176,672

386.4%

-£61,688

69%

-£199,104

-393.1%

-£40,374

barchart-grey

Increase in Cash

-

-

-£174,597

-244%

£121,239

-1.2%

£122,665

-64.1%

£341,620

 

 

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

£4,947,008

16.5%

£4,246,917

15.2%

£3,686,526

7.5%

£3,427,937

4.1%

£3,292,592

barchart-grey

Number of Employees

-

-

15

-

15

-16.7%

18

12.5%

16

Auditors

Auditor Comments

The company is exempt from audit

Bankers

NATIONAL WESTMINSTER BANK PLC

Bank Branch Code

54-24-34

 

 

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 %

-

10.86

5.37

4.25

2.73

barchart-grey

Current ratio

3.39

3.84

3.15

3.10

3.11

barchart-grey

Sales/Net Working Capital

-

1.42

1.99

2.14

1.54

barchart-grey

Gearing %

10

3.60

0.80

1.40

1.60

barchart-grey

Equity in %

66.70

73.40

69.20

68.60

68.70

barchart-grey

Creditor Days

-

50.22

62.41

57.49

61.38

barchart-grey

Debtor Days

-

92.35

93.38

107.09

120.74

barchart-grey

Liquidity/Acid Test

0.92

1.16

1.33

1.48

1.16

barchart-grey

Return On Capital Employed %

-

14.18

10.01

8.34

3.83

barchart-grey

Return On Total Assets Employed %

-

10.71

6.98

5.80

2.67

barchart-grey

Current Debt Ratio

0.39

0.33

0.43

0.44

0.44

barchart-grey

Total Debt Ratio

0.49

0.36

0.44

0.45

0.45

barchart-grey

Stock Turnover Ratio %

-

66.38

42.49

36.07

60

barchart-grey

Return on Net Assets Employed %

-

14.59

10.09

8.46

3.89

 

 

Status History

 

No status history found

 

 

Event History

 

Date

Description

12/09/2014

New Accounts Filed

04/07/2014

Annual Returns

26/08/2013

New Accounts Filed

05/07/2013

Annual Returns

11/12/2012

New Accounts Filed

11/12/2012

New Accounts Filed

17/08/2012

Annual Returns

22/10/2011

New Accounts Filed

22/10/2011

New Accounts Filed

01/08/2011

Annual Returns

15/12/2010

Mr G. Fletcher has left the board

30/10/2010

New Accounts Filed

30/10/2010

New Accounts Filed

14/08/2010

Annual Returns

21/12/2009

New Accounts Filed

 

 

Previous company Names

 

Date

Previous Name

02/01/1987

CARDFORD LIMITED

 

 

Mortgage details

 

Mortgage Type:

LEGAL MORTGAGE

Date Charge Created:

02/12/94

Date Charge Registered:

13/12/94

Date Charge Satisfied:

-

Status:

OUTSTANDING

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:

F/HOLD PROPERTY KNOWN AS BOX MILL SHEFFIELD RD,PENINSTONE SHEFFIELD SOUTH YORKSHIRE AND THE PROCEEDSOF SALE THEREOF; T/NO.SYK 350320 FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT AND AN ASSIGNMENT OF THEGOODWILL AND CONNECTION OF ANY BUSINESSTOGETHERWITH THE FULL BENEFIT OF ALL LICENCES

 

 

Mortgage Type:

MORTGAGE DEBENTURE

Date Charge Created:

15/05/87

Date Charge Registered:

21/05/87

Date Charge Satisfied:

-

Status:

OUTSTANDING

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

Audrey Bird

0

1

Geoffrey Fletcher

0

1

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.20

UK Pound

1

Rs.97.00

Euro

1

Rs.69.34

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.