MIRA INFORM REPORT
|
Report No. : |
354274 |
|
Report Date : |
19.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUPRAJIT EUROPE LIMITED |
|
|
|
|
Registered Office : |
25 Apollo Lichfield Road Industrial Estate
Tamworth B79 7TA |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
02.02.2006 |
|
|
|
|
Com. Reg. No.: |
05695359 |
|
|
|
|
Legal Form : |
Private
Limited with Share Capital |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
43 |
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 – 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
SUPRAJIT
EUROPE LIMITED
Company
No
05695359
Registered
Address
25 APOLLOLICHFIELD ROAD INDUSTRIAL ESTATETAMWORTHB79
7TA
Company
Summary
Registered
Address
25
APOLLO
LICHFIELD ROAD INDUSTRIAL ESTATE
TAMWORTH
B79 7TA
Trading
Address
25
Apollo Lichfield Road Industrial
Estate
Tamworth
Omagh, Co Tyrone
BT79 7TA
Website
Address http://www.suprajit.com
Telephone
Number 01827304777
Fax
Number
TPS No
FPS No
Incorporation
Date 02/02/2006
Previous
Name GILLS CABLES LIMITED
Type Private limited with
Share Capital
FTSE
Index -
Date
of Change 1/06/2011
Filing
Date of Accounts 13/12/2014
Currency GBP
Share
Capital £2,200,000
SIC07 32990
Charity
Number -
SIC07
Description OTHER MANUFACTURING
N.E.C.
Principal Activity To act as a UK based
technology and marketing operation for automotive control cabe contracts
manufactured at Suprajit Automotive Limited in India.
Key
Financials
Year
to Date Turnover Pre Tax Profit Shareholder Funds
Employees
31/03/2014 £4,046,836 £450 £277,295 43
31/03/2013 £3,016,896 -£234,581 £281,831 38
31/03/2012 £2,867,812 -£324,712 £540,147 33
Mortgage
Summary
Total
Mortgage 1
Outstanding 1
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 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 positive net working capital position. |
|
There
has been a reduction in shareholders funds compared with the previous balance
sheet. |
|
This
company trades in an industry with a higher 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 |
7 |
Current
Directors
|
Name |
Peter
James Greensmith |
Date
of Birth |
25/03/1960 |
|
Officers
Title |
Mr |
Nationality |
British |
|
Present
Appointments |
1 |
Function |
Director |
|
Appointment
Date |
08/05/2006 |
||
|
Address |
44
Mayfield Drive, Kenilworth, Warwickshire, CV8 2SW |
||
|
Name |
Kula
Ajith Kumar Rai |
Date
of Birth |
26/06/1958 |
|
Officers
Title |
Nationality |
Indian |
|
|
Present
Appointments |
1 |
Function |
Director |
|
Appointment
Date |
20/04/2006 |
||
|
Address |
Tara,
114/1, Iv Main, 1st Cross,, Defence Colony, Indiranagar, Bangalore, 560 038 |
||
Top
20 Shareholders
|
Currency |
Share
Count |
Share
Type |
Nominal
Value |
%
of Total Share Count |
|
|
SUPRAJIT
ENGINEERING LTD |
GBP |
2,200,000 |
ORDINARY |
1 |
100 |
Financials
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 |
|
Turnover |
£4,046,836 |
34.1% |
£3,016,896 |
5.2% |
£2,867,812 |
-8.3% |
£3,126,003 |
-10.2% |
£3,482,061 |
|
Export |
£2,282,741 |
-13.6% |
£2,642,961 |
7.9% |
£2,450,554 |
16.7% |
£2,099,921 |
31.9% |
£1,592,212 |
|
Cost of Sales |
£3,262,532 |
48.3% |
£2,200,430 |
10.9% |
£1,984,728 |
-15.7% |
£2,355,064 |
-11.6% |
£2,663,839 |
|
Gross Profit |
£784,304 |
-3.9% |
£816,466 |
-7.5% |
£883,084 |
14.5% |
£770,939 |
-5.8% |
£818,222 |
|
Wages & Salaries |
£919,544 |
6.7% |
£861,623 |
12.1% |
£768,565 |
-7.5% |
£830,735 |
6.8% |
£777,791 |
|
Directors Emoluments |
£79,874 |
0% |
£79,864 |
5% |
£76,065 |
- |
£76,065 |
-44.2% |
£136,294 |
|
Operating Profit |
£23,549 |
110.8% |
-£218,898 |
30.8% |
-£316,506 |
-140.6% |
-£131,526 |
24.6% |
-£174,441 |
|
Depreciation |
£14,407 |
-17.9% |
£17,542 |
-57.4% |
£41,154 |
-42.5% |
£71,587 |
3.8% |
£68,987 |
|
Audit Fees |
£9,810 |
9% |
£9,000 |
111.8% |
£4,250 |
-69.6% |
£14,000 |
28.4% |
£10,900 |
|
Interest Payments |
£23,099 |
47.1% |
£15,707 |
88.5% |
£8,334 |
-43.6% |
£14,767 |
119.1% |
£6,739 |
|
Pre Tax Profit |
£450 |
100.2% |
-£234,581 |
27.8% |
-£324,712 |
-122% |
-£146,293 |
19.3% |
-£181,180 |
|
Taxation |
-£4,986 |
79% |
-£23,735 |
9.6% |
-£26,257 |
-128.1% |
-£11,512 |
-41.9% |
-£8,111 |
|
Profit After Tax |
-£4,536 |
98.2% |
-£258,316 |
26.4% |
-£350,969 |
-122.4% |
-£157,805 |
16.6% |
-£189,291 |
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained Profit |
-£4,536 |
98.2% |
-£258,316 |
26.4% |
-£350,969 |
-122.4% |
-£157,805 |
16.6% |
-£189,291 |
Balance Sheet
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Tangible Assets |
£25,999 |
-15.9% |
£30,917 |
-8.9% |
£33,955 |
-26.9% |
£46,469 |
-56.2% |
£106,056 |
|
Intangible Assets |
0 |
- |
0 |
-100% |
£171,625 |
-50% |
£343,262 |
-33.3% |
£514,898 |
|
Total Fixed Assets |
£25,999 |
-15.9% |
£30,917 |
-85% |
£205,580 |
-47.3% |
£389,731 |
-37.2% |
£620,954 |
|
Stock |
£990,670 |
55.3% |
£638,005 |
21.7% |
£524,211 |
-16% |
£624,003 |
-6.4% |
£666,347 |
|
Trade Debtors |
£769,015 |
153.7% |
£303,105 |
-17.6% |
£368,055 |
1.3% |
£363,316 |
-26.5% |
£494,076 |
|
Cash |
£329,762 |
73.2% |
£190,428 |
999.9% |
£13,303 |
- |
0 |
-100% |
£657 |
|
Other Debtors |
£493,467 |
213.8% |
£157,264 |
-48.4% |
£304,773 |
-19.3% |
£377,525 |
-41.2% |
£641,812 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£2,582,914 |
100.4% |
£1,288,802 |
6.5% |
£1,210,342 |
-11.3% |
£1,364,844 |
-24.3% |
£1,802,892 |
|
Trade Creditors |
£219,113 |
50% |
£146,087 |
-26.2% |
£198,010 |
182.2% |
£70,162 |
-46.7% |
£131,678 |
|
Bank Loans & Overdrafts |
£602,176 |
59.6% |
£377,280 |
126.4% |
£166,617 |
-29.5% |
£236,178 |
233.2% |
£70,892 |
|
Other Short Term Finance |
£1,351,154 |
362.6% |
£292,085 |
-1.8% |
£297,420 |
-20.5% |
£374,010 |
-44.4% |
£673,261 |
|
Miscellaneous Current Liabilities |
£159,175 |
-28.4% |
£222,436 |
4.1% |
£213,728 |
16.7% |
£183,111 |
-49.1% |
£359,431 |
|
Total Current Liabilities |
£2,331,618 |
124.7% |
£1,037,888 |
18.5% |
£875,775 |
1.4% |
£863,461 |
-30.1% |
£1,235,262 |
|
Bank Loans & Overdrafts and LTL |
£602,176 |
59.6% |
£377,280 |
126.4% |
£166,617 |
-29.5% |
£236,178 |
12.2% |
£210,557 |
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long Term Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
-100% |
£139,665 |
.
Capital & Reserves
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Called Up Share Capital |
£2,200,000 |
- |
£2,200,000 |
- |
£2,200,000 |
- |
£2,200,000 |
- |
£2,200,000 |
|
P & L Account Reserve |
-£1,922,705 |
-0.2% |
-£1,918,169 |
-15.6% |
-£1,659,853 |
-26.8% |
-£1,308,886 |
-13.7% |
-£1,151,081 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£277,295 |
-1.6% |
£281,831 |
-47.8% |
£540,147 |
-39.4% |
£891,114 |
-15% |
£1,048,919 |
Other Financial Items
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Net Worth |
£277,295 |
-1.6% |
£281,831 |
-23.5% |
£368,522 |
-32.7% |
£547,852 |
2.6% |
£534,021 |
|
Working Capital |
£251,296 |
0.2% |
£250,914 |
-25% |
£334,567 |
-33.3% |
£501,383 |
-11.7% |
£567,630 |
|
Total Assets |
£2,608,913 |
97.7% |
£1,319,719 |
-6.8% |
£1,415,922 |
-19.3% |
£1,754,575 |
-27.6% |
£2,423,846 |
|
Total Liabilities |
£2,331,618 |
124.7% |
£1,037,888 |
18.5% |
£875,775 |
1.4% |
£863,461 |
-37.2% |
£1,374,927 |
|
Net Assets |
£277,295 |
-1.6% |
£281,831 |
-47.8% |
£540,147 |
-39.4% |
£891,114 |
-15% |
£1,048,919 |
Cash Flow
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Net Cashflow from Operations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow before Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow from Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Increase in Cash |
- |
- |
- |
- |
- |
- |
- |
- |
- |
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 |
|
Capital Employed |
£277,295 |
-1.6% |
£281,831 |
-47.8% |
£540,147 |
-39.4% |
£891,114 |
-25% |
£1,188,584 |
|
Number of Employees |
43 |
13.2% |
38 |
15.2% |
33 |
-2.9% |
34 |
9.7% |
31 |
|
Accountants |
|||||||||
|
Auditors |
CROWE CLARK WHITEHILL LLP |
||||||||
|
Auditor Comments |
The audit report contains no adverse
comments |
||||||||
|
Bankers |
HSBC BANK PLC |
||||||||
|
Bank Branch Code |
40-41-07 |
||||||||
Ratios
|
Date Of Accounts |
31/03/14 |
31/03/13 |
31/03/12 |
31/03/11 |
31/03/10 |
|
Pre-tax profit margin % |
0.01 |
-7.78 |
-11.32 |
-4.68 |
-5.20 |
|
Current ratio |
1.11 |
1.24 |
1.38 |
1.58 |
1.46 |
|
Sales/Net Working Capital |
16.10 |
12.02 |
8.57 |
6.23 |
6.13 |
|
Gearing % |
217.20 |
133.90 |
30.80 |
26.50 |
20.10 |
|
Equity in % |
10.60 |
21.40 |
43.40 |
63.10 |
54.90 |
|
Creditor Days |
19.70 |
17.62 |
25.13 |
8.16 |
13.76 |
|
Debtor Days |
69.17 |
36.57 |
46.71 |
42.30 |
51.64 |
|
Liquidity/Acid Test |
0.68 |
0.62 |
0.78 |
0.85 |
0.92 |
|
Return On Capital Employed % |
0.16 |
-83.23 |
-60.11 |
-16.41 |
-15.24 |
|
Return On Total Assets Employed % |
0.01 |
-17.77 |
-22.93 |
-8.33 |
-7.47 |
|
Current Debt Ratio |
8.40 |
3.68 |
1.62 |
0.96 |
1.17 |
|
Total Debt Ratio |
8.40 |
3.68 |
1.62 |
0.96 |
1.31 |
|
Stock Turnover Ratio % |
24.48 |
21.14 |
18.27 |
19.96 |
19.13 |
|
Return on Net Assets Employed % |
0.16 |
-83.23 |
-60.11 |
-16.41 |
-17.27 |
Report
Notes
There
are no notes to display.
Status
History
No
Status History found
Event History
|
Date |
Description |
|
15/07/2015 |
Payment
Data Update Recieved |
|
07/02/2015 |
Annual
Returns |
|
27/12/2014 |
New
Accounts Filed |
|
27/06/2014 |
Annual
Returns |
|
24/12/2013 |
New
Accounts Filed |
|
24/12/2013 |
New
Accounts Filed |
|
11/02/2013 |
Annual
Returns |
|
18/12/2012 |
New
Accounts Filed |
|
25/02/2012 |
Annual
Returns |
|
16/12/2011 |
New
Accounts Filed |
|
16/12/2011 |
New
Accounts Filed |
|
06/06/2011 |
Change
of Name |
|
10/05/2011 |
Mr
K. Jones has resigned as company secretary |
|
22/02/2011 |
Annual
Returns |
|
11/12/2010 |
New
Accounts Filed |
Previous
Company Names
|
Date |
Previous
Name |
|
01/06/2011 |
GILLS
CABLES LIMITED |
|
22/03/2006 |
COBCO
750 LIMITED |
Writ
Details
No
writs found
Statistics
|
Group |
2
companies |
|
Linkages |
0
companies |
|
Countries |
In
0 countries |
Summary
|
Holding
Company |
- |
|
Ownership
Status |
Wholly
Owned |
|
Ultimate
Holding Company |
SUPRAJIT
ENGINEERING |
Group
Structure
|
Company
Name |
Registered
Number |
Latest
Key Financials |
Consol.
Accounts |
Turnover |
|
|
008-6934 |
31.03.2015 |
- |
€94,300,540 |
|
|
05695359 |
31.03.2014 |
N |
£4,046,836 |
Mortgage
Details
|
Mortgage
Type: |
DEBENTURE |
||
|
Date
Charge Created: |
20/07/06 |
||
|
Date
Charge Registered: |
26/07/06 |
||
|
Date
Charge Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s)
Entitled: |
HSBC
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 SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL
DETAILS |
||
Previous
Director/Company Secretaries
|
Name |
Current
Directorships |
Previous
Directorships |
|
Robert
Charles Richards |
0 |
6 |
|
Robert
Charles Richards |
0 |
6 |
|
Keith
Jones |
0 |
16 |
|
Trevor
John Reynolds |
1 |
8 |
|
COBBETTS
(SECRETARIAL) LIMITED |
216 |
436 |
|
Rowan
Edwin Crozier |
1 |
2 |
|
COBBETTS
(DIRECTOR) LIMITED |
91 |
188 |
|
Average
Invoice Value |
Ł283.60 |
|
|
Invoices
available |
227 |
|
|
Paid |
219 |
|
|
Outstanding |
8 |
|
|
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 |
109 |
99 |
5 |
0 |
6 |
|
Outstanding |
5 |
3 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
|
GBP |
1 |
Rs. 98.75 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
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.