MIRA INFORM REPORT

Report No. :	354301
Report Date :	15.12.2015

IDENTIFICATION DETAILS

Name :	H. DAWSON SONS AND COMPANY (WOOL) LIMITED
Registered Office :	Mercury House Essex Street Bradford BD4 7PG
Country :	United Kingdom
Financials (as on) :	31.08.2014
Date of Incorporation :	27.03.1933
Com. Reg. No.:	00274345
Legal Form :	Private limited with Share Capital
Line of Business :	· Other Service Activities Incidental to Land Transportation, n.e.c. · Wool Traders and Merchants.
No. of Employees :	31

RATING & COMMENTS

MIRA’s Rating :	B
	WITH FINANCIALS

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 – 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 has been a net importer of energy since 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 6.0% in 2014.

In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.7% and in 2014, 2.6%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

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).

Source : CIA

Company Name and address

Company Name: H. DAWSON SONS AND COMPANY (WOOL) LIMITED

Company No: 00274345

Company Status: Active - Accounts Filed

Registered Address: MERCURY HOUSE ESSEX STREET BRADFORD BD4 7PG

Company Summary

Registered Address MERCURY HOUSE, ESSEX STREET, BRADFORD, BD4 7PG

Trading Address Mercury House, Essex Street, Bradford, West Yorkshire, BD4 7PG

Website Address http://www.hdawson.co.uk

Telephone Number 01274727464

Fax Number --

TPS No

FPS No

Incorporation Date 27/03/1933

Previous Name -

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 27/05/2015

Currency GBP

Share Capital £93,456

SIC07 52219

Charity Number -

SIC07 Description OTHER SERVICE ACTIVITIES INCIDENTAL TO LAND TRANSPORTATION, N.E.C.

Principal Activity Wool traders and merchants.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

31/08/2014 £31,445,034 £366,612 £6,492,279 31

31/08/2013 £31,767,030 £409,071 £6,212,463 31

31/08/2012 £29,700,107 £405,199 £5,970,048 30

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 Large company in respect of the rating/limit generated.

This company's return on total assets employed ratio indicates a relatively efficient use of assets.

This company has made late payments on a medium percentage of invoices.

This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.

This company's bank loans and overdrafts (less cash) account for a high percentage of short term liabilities.

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	6
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	12

Current Directors

Name	Andrew Gerrard Dawson	Date of Birth	29/11/1941
Officers Title	Mr	Nationality	British
Present Appointments	7	Function	Director
Appointment Date	20/02/1991
Address	Hall Wells Barn, Appletreewick, Skipton, North Yorkshire, BD23 6DD

Name	Jo Harry Dawson	Date of Birth	25/03/1972
Officers Title	Mr	Nationality	British
Present Appointments	7	Function	Director
Appointment Date	03/03/2004
Address	14 Low Green, Rawdon, Leeds, LS19 6HB

Name	Jonathan Peter Swift	Date of Birth	05/04/1972
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	02/10/2006
Address	Mercury House Essex Street, Bradford, West Yorkshire, BD4 7PG

Name	Stuart Alan Greenwood	Date of Birth	26/09/1947
Officers Title	Mr	Nationality	British
Present Appointments	15	Function	Director
Appointment Date	11/11/2009
Address	Mercury House Essex Street, Bradford, West Yorkshire, BD4 7PG

Name	Graham Steven Duffield	Date of Birth	10/08/1959
Officers Title	Mr	Nationality	Australian
Present Appointments	1	Function	Director
Appointment Date	29/07/2014
Address	Mercury House Essex Street, Bradford, West Yorkshire, BD4 7PG

Name	Andrew Richard Hendry	Date of Birth	14/03/1984
Officers Title	Mr	Nationality	Scottish
Present Appointments	1	Function	Director
Appointment Date	29/07/2014
Address	Mercury House, Essex Street Essex Street, Bradford, West Yorkshire, BD4 7PG

Current Company Secretary

Name	Jo Harry Dawson	Date of Birth	25/03/1972
Officers Title	Mr	Nationality	British
Present Appointments	7	Function	Company Secretary
Appointment Date	16/05/2008
Address	14 Low Green, Rawdon, Leeds, LS19 6HB

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
JO-HARRY DAWSON	GBP	60,675	ORDINARY A	1	64.92
ANDREW GERRARD DAWSON	GBP	32,781	ORDINARY A	1	35.08

Financials

Profit & Loss

	Date Of Accounts	31/08/14	(%)	31/08/13	(%)	31/08/12	(%)	31/08/11	(%)	31/08/10
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	£31,445,034	-1%	£31,767,030	7%	£29,700,107	-13.7%	£34,427,543	18%	£29,180,123
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	-	-	-	-	-	-	-	-	-
	Gross Profit	-	-	-	-	-	-	-	-	-
	Wages & Salaries	£1,392,584	3.4%	£1,347,392	11.6%	£1,207,201	-28.2%	£1,682,291	28.6%	£1,307,852
	Directors Emoluments	£353,587	8.5%	£326,006	-37%	£517,466	22.4%	£422,747	23.6%	£342,056
	Operating Profit	£659,501	-1.1%	£666,714	12.8%	£591,309	-49.4%	£1,168,212	104.2%	£572,011
	Depreciation	£48,165	14.9%	£41,925	-31.6%	£61,257	-56.2%	£139,965	-2.6%	£143,738
	Audit Fees	£18,992	5.5%	£18,000	5.9%	£17,000	-10.5%	£19,000	11.8%	£17,000
	Interest Payments	£370,566	11.4%	£332,696	22.4%	£271,814	26.9%	£214,229	53.9%	£139,172
	Pre Tax Profit	£366,612	-10.4%	£409,071	1%	£405,199	-60.6%	£1,027,741	102.5%	£507,493
	Taxation	£13,204	-60.4%	£33,344	291.8%	-£17,383	92.7%	-£237,579	-114.4%	-£110,818
	Profit After Tax	£379,816	-14.1%	£442,415	14.1%	£387,816	-50.9%	£790,162	99.2%	£396,675
	Dividends Payable	£100,000	-50%	£200,000	-	£200,000	300%	£50,000	-	-
	Retained Profit	£279,816	15.4%	£242,415	29.1%	£187,816	-74.6%	£740,162	86.6%	£396,675

Balance Sheet

	Date Of Accounts	31/08/14	(%)	31/08/13	(%)	31/08/12	(%)	31/08/11	(%)	31/08/10
	Tangible Assets	£415,606	7.9%	£385,191	13.4%	£339,687	-41.6%	£582,107	17.5%	£495,509
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£415,606	7.9%	£385,191	13.4%	£339,687	-41.6%	£582,107	17.5%	£495,509
	Stock	£7,736,389	3.6%	£7,465,742	-16.1%	£8,902,760	16.2%	£7,662,083	63.3%	£4,693,244
	Trade Debtors	£11,350,872	12.1%	£10,127,560	48.8%	£6,804,655	5.5%	£6,447,754	2.3%	£6,302,885
	Cash	£72,326	337%	£16,550	4.1%	£15,897	16.5%	£13,649	27.1%	£10,741
	Other Debtors	£397,458	-35.8%	£619,263	281.8%	£162,197	-6.2%	£172,888	10.8%	£155,999
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£19,557,045	7.3%	£18,229,115	14.8%	£15,885,509	11.1%	£14,296,374	28.1%	£11,162,869
	Trade Creditors	£6,772,901	38.8%	£4,879,049	-9.7%	£5,404,133	10.6%	£4,886,413	31.8%	£3,706,477
	Bank Loans & Overdrafts	£6,208,276	-9.2%	£6,838,293	62.8%	£4,200,091	46.5%	£2,867,711	38.5%	£2,070,485
	Other Short Term Finance	£22,187	-64.9%	£63,131	29.2%	£48,866	-52.2%	£102,221	-28.2%	£142,303
	Miscellaneous Current Liabilities	£385,786	-14.4%	£450,554	-6.6%	£482,340	-53.9%	£1,045,686	80.7%	£578,825
	Total Current Liabilities	£13,389,150	9.5%	£12,231,027	20.7%	£10,135,430	13.9%	£8,902,031	37%	£6,498,090
	Bank Loans & Overdrafts and LTL	£6,299,498	-10.1%	£7,009,109	62.3%	£4,319,809	41.1%	£3,061,929	39.9%	£2,188,703
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£91,222	-46.6%	£170,816	42.7%	£119,718	-38.4%	£194,218	64.3%	£118,218

Capital & Reserves

	Date Of Accounts	31/08/14	(%)	31/08/13	(%)	31/08/12	(%)	31/08/11	(%)	31/08/10
	Called Up Share Capital	£93,456	-	£93,456	-	£93,456	-	£93,456	-	£93,456
	P & L Account Reserve	£6,134,230	4.8%	£5,854,414	4.3%	£5,611,999	3.5%	£5,424,183	15.8%	£4,684,021
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	£264,593	-	£264,593	-	£264,593	-	£264,593	-	£264,593
	Shareholder Funds	£6,492,279	4.5%	£6,212,463	4.1%	£5,970,048	3.2%	£5,782,232	14.7%	£5,042,070

Other Financial Items

	Date Of Accounts	31/08/14	(%)	31/08/13	(%)	31/08/12	(%)	31/08/11	(%)	31/08/10
	Net Worth	£6,492,279	4.5%	£6,212,463	4.1%	£5,970,048	3.2%	£5,782,232	14.7%	£5,042,070
	Working Capital	£6,167,895	2.8%	£5,998,088	4.3%	£5,750,079	6.6%	£5,394,343	15.6%	£4,664,779
	Total Assets	£19,972,651	7.3%	£18,614,306	14.7%	£16,225,196	9.1%	£14,878,481	27.6%	£11,658,378
	Total Liabilities	£13,480,372	8.7%	£12,401,843	20.9%	£10,255,148	12.7%	£9,096,249	37.5%	£6,616,308
	Net Assets	£6,492,279	4.5%	£6,212,463	4.1%	£5,970,048	3.2%	£5,782,232	14.7%	£5,042,070

Cash Flow

	Date Of Accounts	31/08/14	(%)	31/08/13	(%)	31/08/12	(%)	31/08/11	(%)	31/08/10
	Net Cashflow from Operations	£1,183,627	156.6%	-£2,090,481	-115.4%	-£970,670	-429.9%	-£183,173	-124.2%	£756,974
	Net Cashflow before Financing	£726,737	127.4%	-£2,651,815	-107.7%	-£1,276,777	-69.3%	-£754,235	-220.8%	£624,572
	Net Cashflow from Financing	-£40,944	-387%	£14,266	126.7%	-£53,355	-33.1%	-£40,082	91.7%	-£480,164
	Increase in Cash	£685,793	126%	-£2,637,549	-98.3%	-£1,330,132	-67.5%	-£794,317	-650.1%	£144,408

Miscellaneous

	Date Of Accounts	31/08/14	(%)	31/08/13	(%)	31/08/12	(%)	31/08/11	(%)	31/08/10
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£6,583,501	3.1%	£6,383,279	4.8%	£6,089,766	1.9%	£5,976,450	15.8%	£5,160,288
	Number of Employees	31	-	31	3.3%	30	-9.1%	33	-2.9%	34
	Accountants
	Auditors	KPMG LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/08/14	31/08/13	31/08/12	31/08/11	31/08/10
	Pre-tax profit margin %	1.17	1.29	1.36	2.99	1.74
	Current ratio	1.46	1.49	1.57	1.61	1.72
	Sales/Net Working Capital	5.10	5.30	5.17	6.38	6.26
	Gearing %	97	112.80	72.40	53	43.40
	Equity in %	32.50	33.40	36.80	38.90	43.20
	Creditor Days	78.40	55.90	66.23	51.66	46.23
	Debtor Days	131.39	116.04	83.39	68.17	78.62
	Liquidity/Acid Test	0.88	0.88	0.68	0.74	0.99
	Return On Capital Employed %	5.56	6.40	6.65	17.19	9.83
	Return On Total Assets Employed %	1.83	2.19	2.49	6.90	4.35
	Current Debt Ratio	2.06	1.96	1.69	1.53	1.28
	Total Debt Ratio	2.07	1.99	1.71	1.57	1.31
	Stock Turnover Ratio %	24.60	23.50	29.97	22.25	16.08
	Return on Net Assets Employed %	5.64	6.58	6.78	17.77	10.06

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
10/06/2015	New Accounts Filed
27/02/2015	Annual Returns
31/07/2014	New Board Member Mr A.R. Hendry appointed
31/07/2014	New Board Member Mr G.S. Duffield appointed
30/05/2014	New Accounts Filed
18/02/2014	Annual Returns
08/06/2013	New Accounts Filed
08/06/2013	New Accounts Filed
06/05/2013	Mr R. Hardy has left the board
19/02/2013	Annual Returns
21/02/2012	Annual Returns
13/12/2011	New Accounts Filed
03/02/2011	Annual Returns
25/01/2011	New Accounts Filed
25/01/2011	New Accounts Filed

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 Full

No Group Structure

Previous Director/Company Secretaries

Name		Current Directorships	Previous Directorships
Kenneth Gordon Gillow		9	6
John Nicholas Cock		2	2
John Dawson		7	2
John Graham Moulson		2	2
Francis Reginald Dawson		9	3
Arthur Peter Halliday		0	3
Raymond Hardy		2	2
David Charles Richard Hammond		1	1
Adrian Robert Goodrich		1	8
Adrian Robert Goodrich		1	8
Hamish Robjon Patrick		0	1
Lyndon Cameron Day		2	3
Average Invoice Value	Ł172.32
Invoices available	121
Paid	121
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	3	60	57	1	0
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.99
UK Pound	1	Rs.101.78
Euro	1	Rs.73.47
GBP	1	Rs.101.68

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	TRI
Report Prepared by :	NIT

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.