MIRA INFORM REPORT
|
Report No. : |
334993 |
|
Report Date : |
08.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
COOPER MEDC LIMITED |
|
|
|
|
Formerly Known As : |
MEDC LIMITED |
|
|
|
|
Registered Office : |
Unit B Sutton Parkwayoddicroft Lanesutton-In-Ashfieldng17 5fb |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
03.03.1975 |
|
|
|
|
Com. Reg. No.: |
01202172 |
|
|
|
|
Legal Form : |
Private
limited with Share Capital |
|
|
|
|
Line of Business : |
The design, manufacture and supply of electrical and electronic equipment and systems for use in hazardous areas. |
|
|
|
|
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 : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 Address
COOPER MEDC
LIMITED
UNIT B SUTTON PARKWAYODDICROFT
LANESUTTON-IN-ASHFIELDNG17 5FB
Company No
01202172
Company Status
Active -
Accounts Filed
Company Summary
Registered Address UNIT
B SUTTON PARKWAY
ODDICROFT LANE
SUTTON-IN-ASHFIELD
NG17 5FB
Trading Address Unit B
Sutton Parkway
Oddicroft Lane
Sutton-In-Ashfield,
Nottinghamshire
NG17 5FB
Website Address http://www.medc.com
Telephone Number 01623444400
Fax Number
TPS No
FPS No
Incorporation Date 03/03/1975
Previous Name MEDC
LIMITED
Type Private
limited with Share Capital
FTSE Index -
Date of Change 01/02/2008
Filing Date of Accounts 30/09/2014
Currency GBP
Share Capital £72,785
SIC07 27900
Charity Number -
SIC07 Description MANUFACTURE
OF OTHER ELECTRICAL EQUIPMENT
Principal
Activity The design, manufacture
and supply of electrical and electronic equipment and systems for use in
hazardous areas.
Key Financials
Year to Date Turnover Pre Tax Profit Shareholder
Funds Employees
31/12/2013 £25,406,000 £6,014,000 £26,334,000
193
31/12/2012 £24,803,000 £7,004,000 £21,808,000
188
31/12/2011 £23,019,000 £6,869,000 £5,837,000
174
Mortgage Summary
Total Mortgage 6
Outstanding 0
Satisfied 6
Trade Debtors / Bad Debt Summary
Total Number of
Documented Trade 2
Total Value of
Documented Trade £5,812
Commentary
|
This company has been treated
as a Medium company in respect of the rating/limit generated. |
|
This company's ratio of total
liabilities to total assets indicates the presence of strong equity funding. |
|
This company's return on total
assets employed ratio indicates a highly efficient use of assets. |
|
This company has made late payments
on a medium percentage of invoices. |
|
The company has more cash than
short term bank borrowings. |
|
This company trades in an
industry with a lower 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 |
1 |
|
Total Previous Directors /
Company Secretaries |
12 |
Current Directors
|
Name |
Simon David Whittaker |
Date of Birth |
31/01/1968 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
27 |
Function |
Director |
|
Appointment Date |
01/08/2011 |
||
|
Address |
Jephson Court Tancred Close,
Queensway, Royal Leamington Spa, Warwickshire, CV31 3RZ |
||
|
Name |
David Ellis Evans |
Date of Birth |
31/01/1967 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
05/09/2008 |
||
|
Address |
Unit B Sutton Parkway,
Oddicroft Lane, Sutton-In-Ashfield, NG17 5FB |
||
Current Company Secretary
|
Name |
ABOGADO NOMINEES LIMITED |
Date of Birth |
- |
|
Officers Title |
Nationality |
British |
|
|
Present Appointments |
726 |
Function |
Company Secretary |
|
Appointment Date |
19/11/2004 |
||
|
Address |
100 New Bridge Street, London,
EC4V 6JA |
||
Top 20 Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
COOPER INDUSTRIES (ENGLAND) LTD |
GBP |
72,785 |
ORDINARY |
1 |
100 |
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 |
£25,406,000 |
2.4% |
£24,803,000 |
7.8% |
£23,019,000 |
24.1% |
£18,550,000 |
-1.4% |
£18,813,000 |
|
|
Export |
£20,129,000 |
10% |
£18,295,000 |
2.1% |
£17,921,000 |
22.6% |
£14,616,000 |
7.6% |
£13,588,000 |
|
|
Cost of Sales |
£14,730,000 |
7.6% |
£13,686,000 |
10.9% |
£12,345,000 |
18.4% |
£10,430,000 |
-1.3% |
£10,565,000 |
|
|
Gross Profit |
£10,676,000 |
-4% |
£11,117,000 |
4.2% |
£10,674,000 |
31.5% |
£8,120,000 |
-1.6% |
£8,248,000 |
|
|
Wages & Salaries |
£6,519,000 |
8.8% |
£5,992,000 |
15.5% |
£5,188,000 |
15.5% |
£4,491,000 |
-3.7% |
£4,664,000 |
|
|
Directors Emoluments |
£182,000 |
7.7% |
£169,000 |
3.7% |
£163,000 |
7.2% |
£152,000 |
0.7% |
£151,000 |
|
|
Operating Profit |
£5,978,000 |
-14.4% |
£6,983,000 |
1.8% |
£6,859,000 |
39.8% |
£4,907,000 |
-1% |
£4,958,000 |
|
|
Depreciation |
£364,000 |
46.2% |
£249,000 |
19.1% |
£209,000 |
1% |
£207,000 |
21.8% |
£170,000 |
|
|
Audit Fees |
£21,000 |
- |
£21,000 |
5% |
£20,000 |
- |
£20,000 |
- |
£20,000 |
|
|
Interest Payments |
- |
-100% |
£8,000 |
-77.1% |
£35,000 |
-73.3% |
£131,000 |
999.9% |
£5,000 |
|
|
Pre Tax Profit |
£6,014,000 |
-14.1% |
£7,004,000 |
2% |
£6,869,000 |
35.4% |
£5,072,000 |
-1.7% |
£5,161,000 |
|
|
Taxation |
-£1,488,000 |
-573.9% |
£314,000 |
118.8% |
-£1,672,000 |
-33.2% |
-£1,255,000 |
-49.2% |
-£841,000 |
|
|
Profit After Tax |
£4,526,000 |
-38.2% |
£7,318,000 |
40.8% |
£5,197,000 |
36.2% |
£3,817,000 |
-11.6% |
£4,320,000 |
|
|
Dividends Payable |
- |
- |
- |
- |
- |
-100% |
£21,906,000 |
- |
- |
|
|
Retained Profit |
£4,526,000 |
-38.2% |
£7,318,000 |
40.8% |
£5,197,000 |
128.7% |
-£18,089,000 |
-518.7% |
£4,320,000 |
Balance
Sheet
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
|
|
Tangible Assets |
£15,726,000 |
3.3% |
£15,229,000 |
700.7% |
£1,902,000 |
10.4% |
£1,723,000 |
2% |
£1,690,000 |
|
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Fixed Assets |
£15,726,000 |
3.3% |
£15,229,000 |
700.7% |
£1,902,000 |
10.4% |
£1,723,000 |
2% |
£1,690,000 |
|
|
Stock |
£1,532,000 |
21% |
£1,266,000 |
-23.3% |
£1,650,000 |
22.1% |
£1,351,000 |
20.1% |
£1,125,000 |
|
|
Trade Debtors |
£3,229,000 |
10.3% |
£2,928,000 |
-1.4% |
£2,970,000 |
20% |
£2,475,000 |
9.5% |
£2,261,000 |
|
|
Cash |
£10,403,000 |
70% |
£6,121,000 |
80.8% |
£3,385,000 |
212.6% |
£1,083,000 |
149.5% |
£434,000 |
|
|
Other Debtors |
£1,753,000 |
19.2% |
£1,471,000 |
-20.2% |
£1,844,000 |
22.5% |
£1,505,000 |
-95.5% |
£33,252,000 |
|
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Current Assets |
£16,917,000 |
43.5% |
£11,786,000 |
19.7% |
£9,849,000 |
53.6% |
£6,414,000 |
-82.7% |
£37,072,000 |
|
|
Trade Creditors |
£2,018,000 |
-7.6% |
£2,184,000 |
16.2% |
£1,880,000 |
34.1% |
£1,402,000 |
577.3% |
£207,000 |
|
|
Bank Loans & Overdrafts |
0 |
- |
0 |
- |
0 |
-100% |
£2,046,000 |
- |
0 |
|
|
Other Short Term Finance |
£713,000 |
-9.5% |
£788,000 |
999.9% |
£50,000 |
-80.1% |
£251,000 |
-98.5% |
£16,740,000 |
|
|
Miscellaneous Current Liabilities |
£3,450,000 |
57% |
£2,198,000 |
-43.9% |
£3,918,000 |
4.4% |
£3,752,000 |
22% |
£3,076,000 |
|
|
Total Current Liabilities |
£6,181,000 |
19.6% |
£5,170,000 |
-11.6% |
£5,848,000 |
-21.5% |
£7,451,000 |
-62.8% |
£20,023,000 |
|
|
Bank Loans & Overdrafts and LTL |
£128,000 |
245.9% |
£37,000 |
-43.9% |
£66,000 |
-96.8% |
£2,092,000 |
999.9% |
£10,000 |
|
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Long Term Liabilities |
£128,000 |
245.9% |
£37,000 |
-43.9% |
£66,000 |
43.5% |
£46,000 |
360% |
£10,000 |
.
Capital
& Reserves
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
|
|
Called Up Share Capital |
£73,000 |
- |
£73,000 |
- |
£73,000 |
- |
£73,000 |
- |
£73,000 |
|
|
P & L Account Reserve |
£26,261,000 |
20.8% |
£21,735,000 |
277.1% |
£5,764,000 |
916.6% |
£567,000 |
-97% |
£18,656,000 |
|
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Shareholder Funds |
£26,334,000 |
20.8% |
£21,808,000 |
273.6% |
£5,837,000 |
812% |
£640,000 |
-96.6% |
£18,729,000 |
Other
Financial Items
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
|
|
Net Worth |
£26,334,000 |
20.8% |
£21,808,000 |
273.6% |
£5,837,000 |
812% |
£640,000 |
-96.6% |
£18,729,000 |
|
|
Working Capital |
£10,736,000 |
62.3% |
£6,616,000 |
65.4% |
£4,001,000 |
485.8% |
-£1,037,000 |
-106.1% |
£17,049,000 |
|
|
Total Assets |
£32,643,000 |
20.8% |
£27,015,000 |
129.9% |
£11,751,000 |
44.4% |
£8,137,000 |
-79% |
£38,762,000 |
|
|
Total Liabilities |
£6,309,000 |
21.2% |
£5,207,000 |
-12% |
£5,914,000 |
-21.1% |
£7,497,000 |
-62.6% |
£20,033,000 |
|
|
Net Assets |
£26,334,000 |
20.8% |
£21,808,000 |
273.6% |
£5,837,000 |
812% |
£640,000 |
-96.6% |
£18,729,000 |
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 |
YES |
- |
YES |
- |
YES |
- |
YES |
- |
YES |
|
|
|
Capital Employed |
£26,462,000 |
21.1% |
£21,845,000 |
270.1% |
£5,903,000 |
760.5% |
£686,000 |
-96.3% |
£18,739,000 |
|
|
Number of Employees |
193 |
2.7% |
188 |
8% |
174 |
18.4% |
147 |
-9.3% |
162 |
|
Accountants |
||||||||||
|
Auditors |
ERNST & YOUNG LLP |
|||||||||
|
Auditor Comments |
The audit report contains no adverse comments |
|||||||||
|
Bankers |
NATIONWIDE BUILDING SOCIETY |
|||||||||
|
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 % |
23.67 |
28.24 |
29.84 |
27.34 |
27.43 |
|
|
Current ratio |
2.74 |
2.28 |
1.68 |
0.86 |
1.85 |
|
|
Sales/Net Working Capital |
2.37 |
3.75 |
5.75 |
-17.89 |
1.10 |
|
|
Gearing % |
0.50 |
0.20 |
1.10 |
326.90 |
0.10 |
|
|
Equity in % |
80.70 |
80.70 |
49.70 |
7.90 |
48.30 |
|
|
Creditor Days |
28.91 |
32.05 |
29.72 |
27.51 |
4 |
|
|
Debtor Days |
46.26 |
42.97 |
46.96 |
48.56 |
43.74 |
|
|
Liquidity/Acid Test |
2.48 |
2.03 |
1.40 |
0.67 |
1.79 |
|
|
Return On Capital Employed % |
22.72 |
32.06 |
116.36 |
739.35 |
27.54 |
|
|
Return On Total Assets Employed % |
18.42 |
25.92 |
58.45 |
62.33 |
13.31 |
|
|
Current Debt Ratio |
0.23 |
0.23 |
1 |
11.64 |
1.06 |
|
|
Total Debt Ratio |
0.23 |
0.23 |
1.01 |
11.71 |
1.06 |
|
|
Stock Turnover Ratio % |
6.03 |
5.10 |
7.16 |
7.28 |
5.97 |
|
|
Return on Net Assets Employed % |
22.83 |
32.11 |
117.68 |
792.50 |
27.55 |
Report Notes
There are no notes to display
Status History
No Status History found
Event History
|
Date |
Description |
|
15/01/2015 |
Annual Returns |
|
14/10/2014 |
New Accounts Filed |
|
25/12/2013 |
Annual Returns |
|
11/10/2013 |
New Accounts Filed |
|
11/10/2013 |
New Accounts Filed |
|
28/06/2013 |
Mr T.V. Helz has resigned as
company secretary |
|
28/06/2013 |
Mr T.V. Helz has left the board |
|
25/04/2013 |
Change in Reg.Office |
|
25/04/2013 |
Change of Company Postcode |
|
26/02/2013 |
Annual Returns |
|
11/09/2012 |
New Accounts Filed |
|
11/09/2012 |
New Accounts Filed |
|
08/02/2012 |
Annual Returns |
|
10/10/2011 |
New Accounts Filed |
|
16/09/2011 |
Ms K.M. Beyen has left the
board |
Previous Company Names
|
Date |
Previous Name |
|
01/02/2008 |
MEDC LIMITED |
|
07/06/2000 |
MANUFACTURING ELECTRICAL DESIGN
CONSULTANTS LIMITED |
Writ Details
No writs found
Statistics
|
Group |
15 companies |
|
Linkages |
68 companies |
|
Countries |
In 9 countries |
Summary
|
Holding Company |
COOPER INDUSTRIES (ENGLAND)
LIMITED |
|
Ownership Status |
Wholly Owned |
|
Ultimate Holding Company |
EATON CORPORATION PUBLIC
LIMITED COMPANY |
Group Structure Full
|
Company Name |
Registered Number |
Latest Key Financials |
Consol. Accounts |
Turnover |
|
|
IE512978 |
31.12.2013 |
Y |
€18,255,984,578 |
|
|
IE471594 |
31.12.2013 |
N |
€2,909,856 |
|
|
- |
- |
||
|
|
- |
- |
$970,000 |
|
|
|
N/A |
- |
- |
|
|
|
06023445 |
31.12.2013 |
N |
|
|
|
05029521 |
31.12.2013 |
N |
£11,130,000 |
|
|
01027048 |
31.12.2013 |
N |
|
|
|
00739673 |
31.12.2013 |
N |
£2,445,155 |
|
|
00383431 |
31.12.2013 |
N |
£1,891,278 |
|
|
02860867 |
31.12.2013 |
N |
|
|
|
03586095 |
31.12.2013 |
N |
|
|
|
06231396 |
31.12.2014 |
N |
|
|
|
05526509 |
31.12.2013 |
N |
|
|
|
01319188 |
31.12.2013 |
N |
£10,808,847 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.81 |
|
UK Pound |
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
TRU |
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.