MIRA INFORM REPORT

 

 

Report No. :

357086

Report Date :

26.12.2015

 

IDENTIFICATION DETAILS

 

Name :

RAP CONVEYORS LIMITED

 

 

Registered Office :

Interbelt House Glensyl Way Wharf Road Burton On Trent De14 1lx

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.04.2014

 

 

Date of Incorporation :

18.08.2004

 

 

Com. Reg. No.:

05209588

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Wholesale of Other Intermediate Products

 

 

Employees:

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 – 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:           RAP CONVEYORS LIMITED

Company No:                05209588

Company Status:          Active - Accounts Filed

Registered Address:      INTERBELT HOUSE GLENSYL WAY WHARF ROAD BURTON ON TRENT DE14 1LX

 

 

Company Summary

 

Registered Address                  INTERBELT HOUSE, GLENSYL WAY WHARF ROAD, BURTON ON TRENT DE14 1LX

 

Trading Address                      Interbelt House, Glensyl Way, Burton-On-Trent, Staffordshire, DE14 1LX

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

Telephone Number                   --

Fax Number                             --

TPS                                          --

FPS                                          Yes

Incorporation Date                   18/08/2004

Previous Name                         HAREFLEX LIMITED

Type                                         Private limited with Share Capital

FTSE Index                              -

Date of Change                         25/10/2004

Filing Date of Accounts            29/01/2015

Currency                                  GBP

Share Capital                           £2

SIC07                                       46760

Charity Number                        -

SIC07 Description                    WHOLESALE OF OTHER INTERMEDIATE PRODUCTS

Principal Activity                      -

 

 

Commentary

 

This company has been treated as a Small company in respect of the rating/limit generated.

The latest Balance Sheet indicates a 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 an increase in shareholders’ funds compared with the previous balance sheet.

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 -

-

 

 

Current Directors

 

Title

Mr

Function

Director

Name

David Southern

Nationality

British

Date of Birth

06/1952

Present Appointments

10

Latest Address

Rowan Cottage, Eyes Lane Bretherton, Preston, Lancashire

Appointment Date

25/08/2004

Post Code

PR26 9AS

 

Title

Mr

Function

Director

Name

John Stuart Sutton

Nationality

British

Date of Birth

01/1948

Present Appointments

10

Latest Address

Hunters Gate, Main Street, Milton, Derbyshire

Appointment Date

25/08/2004

Post Code

DE65 6EF

 

Title

Mr

Function

Director

Name

Christopher Joseph Clarke

Nationality

British

Date of Birth

09/1967

Present Appointments

8

Latest Address

Interbelt House, Glensyl Way Wharf Road, Burton On Trent, Staffordshire

Appointment Date

01/05/2015

Post Code

DE14 1LX

 

Title

Mr

Function

Director

Name

Stuart Roy Sutton

Nationality

British

Date of Birth

05/1976

Present Appointments

3

Latest Address

5 Golding Crescent, Burton On Trent, Staffordshire

Appointment Date

31/08/2007

Post Code

DE14 1SQ

 

Title

Mr

Function

Director

Name

Stephen David Southern

Nationality

British

Date of Birth

06/1970

Present Appointments

3

Latest Address

12 Cheviot Way, Upper Hopton, Mirfield, West Yorkshire

Appointment Date

31/08/2008

Post Code

WF14 8HW

 

 

Current Company Secretary

 

Title

Ms

Function

Company Secretary

Name

Janice Southern

Nationality

British

Date of Birth

-

Present Appointments

1

Latest Address

3 Eyes Lane, Bretherton, Leyland, Lancashire

Appointment Date

21/01/2009

Post Code

PR26 9AS

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

BURTON CONVEYOR VULCANISING SERVICES LTD

GBP

2

ORDINARY

1

100

 

 

Financials

 

Profit & Loss

Date Of Accounts

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

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

£4,760

-52.9%

£10,102

-19.3%

£12,520

7%

£11,697

-40.6%

£19,681

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

Date Of Accounts

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Tangible Assets

£10,684

-49.1%

£20,980

-51.6%

£43,332

1.2%

£42,838

-13.9%

£49,743

Intangible Assets

£84,717

-8.3%

£92,368

-8.2%

£100,649

-24.5%

£133,333

-18.1%

£162,864

Total Fixed Assets

£95,401

-15.8%

£113,348

-21.3%

£143,981

-18.3%

£176,171

-17.1%

£212,607

Stock

£352,969

-1.9%

£359,668

-8.7%

£394,031

30.9%

£301,061

-21.3%

£382,603

Trade Debtors

£620,270

9.1%

£568,722

-6.3%

£606,888

-23.3%

£791,667

46.4%

£540,858

Cash

£291

-

0

-

0

-

0

-100%

£14,455

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£973,530

4.9%

£928,390

-7.2%

£1,000,919

-8.4%

£1,092,728

16.5%

£937,916

Trade Creditors

£702,322

-10.1%

£781,001

-13.9%

£907,069

-13.2%

£1,044,451

60.6%

£650,351

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

Total Current Liabilities

£702,322

-10.1%

£781,001

-13.9%

£907,069

-13.2%

£1,044,451

60.6%

£650,351

Bank Loans & Overdrafts and LTL

0

-

0

-100%

£14,910

-35%

£22,956

-92.4%

£303,178

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-100%

£14,910

-35%

£22,956

-92.4%

£303,178

 

Capital & Reserves

Date Of Accounts

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Called Up Share Capital

£20

-

£20

-

£20

-

£20

-

£20

P & L Account Reserve

£366,589

40.6%

£260,717

17%

£222,901

10.6%

£201,472

2.3%

£196,974

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£366,609

40.6%

£260,737

17%

£222,921

10.6%

£201,492

2.3%

£196,994

 

Other Financial Items

Date Of Accounts

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Net Worth

£281,892

67.4%

£168,369

37.7%

£122,272

79.4%

£68,159

99.7%

£34,130

Working Capital

£271,208

84%

£147,389

57%

£93,850

94.4%

£48,277

-83.2%

£287,565

Total Assets

£1,068,931

2.6%

£1,041,738

-9%

£1,144,900

-9.8%

£1,268,899

10.3%

£1,150,523

Total Liabilities

£702,322

-10.1%

£781,001

-15.3%

£921,979

-13.6%

£1,067,407

11.9%

£953,529

Net Assets

£366,609

40.6%

£260,737

17%

£222,921

10.6%

£201,492

2.3%

£196,994

 

Cash Flow

Date Of Accounts

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Net Cash flow from Operations

-

-

-

-

-

-

-

-

-

Net Cash flow before Financing

-

-

-

-

-

-

-

-

-

Net Cash flow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

Miscellaneous

Date Of Accounts

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£366,609

40.6%

£260,737

9.6%

£237,831

6%

£224,448

-55.1%

£500,172

Number of Employees

-

-

-

-

-

-

-

-

-

Accountants

S 9 LIMITED

Auditors

Auditor Comments

The company is exempt from audit

Bankers

Bank Branch Code

 

Ratios

Date Of Accounts

30/04/14

30/04/13

30/04/12

30/04/11

30/04/10

Pre-tax profit margin %

-

-

-

-

-

Current ratio

1.39

1.19

1.10

1.05

1.44

Sales/Net Working Capital

-

-

-

-

-

Gearing %

0

0

6.70

11.40

153.90

Equity in %

37.20

27.50

21.30

17.70

19.90

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.88

0.72

0.66

0.75

0.85

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

1.91

2.99

4.06

5.18

3.30

Total Debt Ratio

1.91

2.99

4.13

5.29

4.84

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

12/09/2015

Annual Returns

11/08/2015

Payment Data Update Recieved

11/05/2015

New Board Member Mr C.J. Clarke appointed

02/02/2015

New Accounts Filed

02/02/2015

New Accounts Filed

13/09/2014

Annual Returns

06/02/2014

New Accounts Filed

13/09/2013

Annual Returns

06/02/2013

New Accounts Filed

20/09/2012

Annual Returns

06/02/2012

New Accounts Filed

06/02/2012

New Accounts Filed

19/09/2011

Annual Returns

02/02/2011

New Accounts Filed

02/02/2011

New Accounts Filed

 

 

Statistics

 

Group

5 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

BURTON CONVEYOR VULCANISING SERVICES LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

BURTON CONVEYOR VULCANISING SERVICES LIMITED

 

 

Group Structure Full

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

 BURTON CONVEYOR VULCANIS...

 

01479759

30.04.2014

N

 INTERBELT LIMITED

 

01724676

30.04.2014

N

 RAP CONVEYORS LIMITED

 

05209588

30.04.2014

N

 INTERBELT SOUTHERN LTD

 

04859661

31.10.2013

N

 VULCAN CONVEYORS LIMITED

 

04667791

30.04.2014

N

 

 

Mortgage Details

 

Mortgage Type:

Date Charge Created:

21/05/15

Date Charge Registered:

03/06/15

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

SVENSKA HANDELSBANKEN AB (PUBL);

Amount Secured:

Details:

CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

30/09/04

Date Charge Registered:

12/10/04

Date Charge Satisfied:

03/06/15

Status:

SATISFIED

Person(s) Entitled:

BARCLAYS BANK PLC;

Amount Secured:

Details:

F/H PROPERTY K/A RAP CONVEYORS, TURNER CRESCENT, LOOMER ROAD, CHESTERTON, NEWCASTLE, STAFFORDSHIRE

 

Mortgage Type:

DEBENTURE

Date Charge Created:

27/09/04

Date Charge Registered:

12/10/04

Date Charge Satisfied:

03/06/15

Status:

SATISFIED

Person(s) Entitled:

BARCLAYS BANK PLC;

Amount Secured:

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

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

David Southern

10

3

Janice Louise Southern

7

1

Elliot Southern

0

1

COMPANY DIRECTORS LIMITED

9351

196299

TEMPLE SECRETARIES LIMITED

11620

198021

 

Average Invoice Value

£36.67

Invoices available

6

Paid

6

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

2

4

0

0

0

Outstanding

0

0

0

0

0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.65

UK Pound

1

Rs.99.61

Euro

1

Rs.72.33

GBP

1

Rs.0.015

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

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

Report Prepared by :

SANS

 

 

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.