|
Report No. : |
308098 |
|
Report Date : |
18.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Formerly Known As : |
R. S. COMPONENTS LIMITED |
|
|
|
|
Registered Office : |
|
|
|
|
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Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
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Date of Incorporation : |
09.02.1971 |
|
|
|
|
Com. Reg. No.: |
01002091 |
|
|
|
|
Legal Form : |
Private Limited with Share Capital |
|
|
|
|
Line of Business : |
· The provision of distribution of electronics, electrical, industrial and commercial supplies and services to industrial customers. Wholesale of other electronic parts and equipment. Wholesale of electronic and telecommunications equipment
and parts. |
|
|
|
|
No. of Employees : |
2,913 |
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 : |
No Complaints |
|
|
|
|
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. Over the past two decades, the government has greatly reduced
public ownership. 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.
After emerging from recession in 1992, Britain's economy enjoyed the longest
period of expansion on record during which time growth outpaced most of Western
Europe. In 2008, however, 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; these included nationalizing parts of the banking system, temporarily
cutting taxes, suspending public sector borrowing rules, and moving forward
public spending on capital projects. Facing burgeoning public deficits and debt
levels, in 2010 the CAMERON-led coalition government (between Conservatives and
Liberal Democrats) initiated a five-year austerity program, which aimed to
lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by
2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced
additional austerity measures through 2017 largely due to the euro-zone debt
crisis. 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 21% by 2014. The
Bank of England (BoE) implemented an asset purchase program of £375 billion
(approximately $605 billion) as of December 2013. 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 1.4%, accelerating unexpectedly in the
second half of the year because of greater consumer spending and a recovering
housing market. The budget deficit is falling but remains high at nearly 7% and
public debt has continued to increase.
|
Source
: CIA |
|
RS COMPONENTS LIMITED |
Telephone |
01536 444041 |
|
BIRCHINGTON ROAD |
Fax |
01536 405894 |
|
WELDON CORBY |
Website |
|
|
NORTHAMPTONSHIRE |
||
|
NN17 9RS,
United Kingdom |
|
Company Number: Foundation: |
01002091 09/02/1971 |
Status: VAT No: |
Active - Accounts Filed GB243164091 |
Comments
This company’s return on total assets employed ratio indicates a highly
efficient use of assets. This company has only made late payments on a low
percentage of invoices. This company trades in an industry with a lower level
of corporate failures.
This company’s bank loans and overdrafts (less cash) account for a high
percentage of short term liabilities.
This company has been treated as a Large company in respect of the
rating/limit generated. This company’s ratio of total liabilities to total
assets indicates the presence of moderate equity funding.
LEGAL FORM
Private limited with Share Capital
FOUNDATION
09/02/1971
COMPANY NO.
01002091
PREVIOUS NAMES
Date of Change Previous
Name
26/08/1994 R.S. COMPONENTS LIMITED
SHAREHOLDERS
Name Currency
Number of Share type Nominal value
shares
ELECTROCOMPONENTS PLC GBP 49,999 ORDINARY 1
ELECTROMAIL LTD GBP
1 ORDINARY 1
Total Share Capital GBP 50,000
MANAGEMENT
|
Directors |
|
|
|
|
|
Name |
Address: |
Date of birth |
Nationality |
Appointment date |
|
Mr
Ian Mason |
International
Management Centre 8050 Oxford Busine, Oxford OX4 2HW |
01/04/1962 |
British |
31/08/2001 |
|
Mr
Simon Boddie |
International Management Centre
8050 Oxford Busine, Oxford OX4 2HW |
01/02/1960 |
British |
01/09/2005 |
|
|
||||
|
Company Secretary |
||||
|
Name |
Address: |
|
|
Appointment
date |
|
Mr
Ian Peter Haslegrave |
International Management
Centre 8050 Oxford Busine, Oxford OX4 2HW |
05/10/2006 |
||
Other Known Addresses
Birchington Road, Weldon, Corby, Northants NN17 9RS
|
Company
No. |
Name
|
Status
|
Country
|
|
Ultimate
Parent |
|
|
|
|
00647788 |
ELECTROCOMPONENTS PUBLIC LIMITED COMPANY |
Active |
United Kingdom |
|
|
|||
|
Affiliated Companies |
|||
|
04030175 |
ELECTROCOMPONENTS
FINANCE LIMITED |
Active |
United Kingdom |
|
01648115 |
ELECTROCOMPONENTS
U.K. LIMITED |
Active |
United Kingdom |
|
01703169 |
ELECTRO-LEASING
LIMITED |
Non Trading |
United Kingdom |
|
02198413 |
ELECTRO LIGHTING
GROUP LIMITED |
Non Trading |
United Kingdom |
|
04180300 |
ELECTROCOMPONENTS US FINANCE LIMITED |
Active |
United Kingdom |
|
02397713 |
ELECTROCOMPONENTS
OVERSEAS LIMITED |
Non Trading |
United Kingdom |
|
02275389 |
RS COMPONENTS
INTERNATIONAL LIMITED |
Non Trading |
United Kingdom |
|
02230415 |
RS LIMITED |
Non Trading |
United Kingdom |
|
02178308 |
RS SUPPLIES
LIMITED |
Non Trading |
United Kingdom |
|
IE013186 |
RADIONICS LIMITED |
Active |
Ireland |
|
03718521 |
RS COMPONENTS
HOLDINGS LIMITED |
Active |
United Kingdom |
|
00680294 |
ELECTROMAIL
LIMITED |
Non Trading |
United Kingdom |
|
01037557 |
ELECTROPLAN
LIMITED |
Non Trading |
United Kingdom |
|
00392879 |
READING WINDINGS
LIMITED |
Non Trading |
United Kingdom |
|
|
|
|
|
|
Subsidiary
Companies |
|||
|
00893315 |
RAD I OS PARES LIMITED |
Non Trading |
United Kingdom |
|
Immediate
parent |
|||
|
00647788 |
ELECTROCOMPONENTS PUBLIC LIMITED COMPANY |
Active |
United Kingdom |
Main Activity
Principal Activity The
provision of distribution of electronics, electrical, industrial and commercial
supplies
and
services to industrial customers.
SIC03 Wholesale
of other electronic parts & equipment
SIC07 Wholesale
of electronic and telecommunications equipment and parts
Turnover and Employees
|
Date of Accounts |
Turnover |
Employees |
|
31/03/2012 |
GBP 624,900,000 |
3,038 |
|
31/03/2013 |
GBP 624,600,000 |
3,005 |
|
31/03/2014 |
GBP 626,700,000 |
2,913 |
BANKS
Bank Name Bank
Branch Sort Code
HSBC BANK PLC --
AUDITOR
Auditor Name
KPMG Audit PLC
EVENTS
Country Court Judgments (CCJs)
Date Amount Court Case number Status Date paid
04/08/2011 GBP 1295 NORTHAMPTON 1XQ20190 Judgement
-
COMPANY HISTORY
|
Date |
Action |
|
29/06/2010 |
Annual
Returns |
|
08/12/2010 |
New
Accounts Filed |
|
08/12/2010 |
New
Accounts Filed |
|
25/06/2011 |
Annual
Returns |
|
14/12/2011 |
New
Accounts Filed |
|
14/12/2011 |
New
Accounts Filed |
|
25/06/2012 |
Annual
Returns |
|
24/12/2012 |
New
Accounts Filed |
|
24/12/2012 |
New
Accounts Filed |
|
17/04/2013 |
Mr
PD. Quested has left the board |
|
17/04/2013 |
New
Board Member Mr I. Lennard appointed |
|
25/06/2013 |
Annual
Returns |
|
16/12/2013 |
New
Accounts Filed |
|
16/12/2013 |
New
Accounts Filed |
|
17/03/2014 |
Mr
I. Lennard has left the board |
|
23/06/2014 |
Annual
Returns |
|
21/12/2014 |
New
Accounts Filed |
|
21/12/2014 |
New
Accounts Filed |
PROFIT AND LOSS
|
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
52 |
52 |
52 |
52 |
|
|
GBP |
GBP |
GBP |
GBP |
|
|
Group:
No |
Group:
No |
Group:
No |
Group:
No |
|
Turnover |
626,700,000 |
624,600,000 |
624,900,000 |
578,800,000 |
|
Export |
- |
- |
- |
- |
|
Cost of
Sales |
423,300,000 |
413,700,000 |
414,100,000 |
377,600,000 |
|
Gross
Profit |
203,400,000 |
210,900,000 |
210,800,000 |
201,200,000 |
|
Wages
And Salaries |
74,500,000 |
78,500,000 |
77,000,000 |
75,600,000 |
|
Directors
Emoluments |
300,000 |
300,000 |
300,000 |
300,000 |
|
Operating
Profit |
59,100,000 |
58,200,000 |
59,200,000 |
42,000,000 |
|
Depreciation |
21,100,000 |
17,200,000 |
0 |
2,700,000 |
|
Audit
Fees |
100,000 |
100,000 |
100,000 |
100,000 |
|
Interests
Payments |
400,000 |
500,000 |
800,000 |
700,000 |
|
Pre Tax
Profit |
58,700,000 |
55,400,000 |
58,400,000 |
41,300,000 |
|
Taxation |
-11,500,000 |
-13,400,000 |
-14,200,000 |
-11,800,000 |
|
Profit
After Tax |
47,200,000 |
42,000,000 |
44,200,000 |
29,500,000 |
|
Dividends
Payable |
31,000,000 |
20,000,000 |
20,000,000 |
0 |
|
Retained
Profit |
16,200,000 |
22,000,000 |
24,200,000 |
29,500,000 |
BALANCE SHEET
|
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
52 |
52 |
52 |
52 |
|
|
GBP |
GBP |
GBP |
GBP |
|
|
Group:
No |
Group:
No |
Group:
No |
Group:
No |
|
Tangible
Assets |
92,600,000 |
80,700,000 |
82,800,000 |
88,600,000 |
|
Intangible
Assets |
200,000 |
200,000 |
200,000 |
200,000 |
|
Total
Fixed Assets |
92,800,000 |
80,900,000 |
83,000,000 |
88,800,000 |
|
Stock |
116,500,000 |
114,900,000 |
112,800,000 |
110,900,000 |
|
Trade
Debtors |
64,100,000 |
64,500,000 |
64,800,000 |
66,500,000 |
|
Cash |
0 |
1,000,000 |
1,200,000 |
900,000 |
|
Other
Debtors |
64,000,000 |
72,700,000 |
77,300,000 |
50,300,000 |
|
Miscellaneous
Current Assets |
0 |
0 |
0 |
0 |
|
Total
Current Assets |
244,600,000 |
253,100,000 |
256,100,000 |
228,600,000 |
|
Trade
Creditors |
72,700,000 |
87,900,000 |
98,300,000 |
89,400,000 |
|
Bank
Loans and Overdraft |
59,500,000 |
22,700,000 |
33,800,000 |
50,100,000 |
|
Other
Short Term Finance |
27,800,000 |
60,500,000 |
60,600,000 |
37,300,000 |
|
Miscellaneous
Current Liabilities |
38,200,000 |
34,600,000 |
29,700,000 |
33,100,000 |
|
Total
Current Liabilities |
198,200,000 |
205,700,000 |
222,400,000 |
209,900,000 |
|
Bank
Loans and Overdrafts LTL |
88,900,000 |
36,600,000 |
38,900,000 |
56,100,000 |
|
Other
Long Term Finance |
0 |
700,000 |
0 |
1,900,000 |
|
Total
Long Term Liabilities |
29,400,000 |
13,900,000 |
5,100,000 |
6,000,000 |
CAPITAL & RESERVES
|
|
52 GBP Group: No |
31/03/2013 52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
|
Called Up Share Capital |
100,000 |
100,000 |
100,000 |
100,000 |
|
P and L Account Reserve |
109,600,000 |
114,200,000 |
111,400,000 |
101,200,000 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
100,000 |
100,000 |
100,000 |
200,000 |
|
Shareholders Funds |
109,800,000 |
114,400,000 |
111,600,000 |
101,500,000 |
OTHER FINANCIAL ITEMS
|
|
52 GBP Group: No |
31/03/2013 52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
|
Net Worth |
109,600,000 |
114,200,000 |
111,400,000 |
101,300,000 |
|
Working Capital |
46,400,000 |
47,400,000 |
33,700,000 |
18,700,000 |
|
Total Assets |
337,400,000 |
334,000,000 |
339,100,000 |
317,400,000 |
|
Total Liabilities |
227,600,000 |
219,600,000 |
227,500,000 |
215,900,000 |
|
Net Assets |
109,800,000 |
114,400,000 |
111,600,000 |
101,500,000 |
CASH FLOW
|
|
52 GBP Group: No |
31/03/2013 52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
|
Net Cash
Flow from Operations |
0 |
0 |
0 |
0 |
|
Net Cash
Flow before Financing |
0 |
0 |
0 |
0 |
|
Net Cash
Flow from Financing |
0 |
0 |
0 |
0 |
|
Increase in Cash |
-1,000,000 |
-200,000 |
300,000 |
300,000 |
MISCELLANEOUS
|
|
52 GBP Group: No |
31/03/2013 52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
|
Capital Employed |
139,200,000 |
128,300,000 |
116,700,000 |
107,500,000 |
FINANCIAL RATIOS
|
Name |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Pre Tax Profit Margin |
9.37 % |
8.87 % |
9.35 % |
7.14 % |
|
Current Ration |
1.23 |
1.23 |
1.15 |
1.09 |
|
Sales or Net Working Capital |
13.51 |
13.18 |
18.54 |
30.95 |
|
Gearing |
80.97 % |
31.99 % |
34.86 % |
55.27 % |
|
Equity |
32.56 % |
34.27 % |
32.93 % |
32.00 % |
|
Creditor Days |
42.22 |
51.22 |
57.25 |
56.22 |
|
Debtor Days |
37.23 |
37.58 |
37.74 |
41.82 |
|
Liquidity or Acid test |
0.64 |
0.67 |
0.64 |
0.56 |
|
Return on Capital Employed |
42.16 % |
43.18 % |
50.04 % |
38.41 % |
|
Return on Total
Assets Employed |
17.39 % |
16.58 % |
17.22 % |
13.01 % |
|
Current Debt Ratio |
1.80 % |
1.79 % |
1.99 % |
2.06 % |
|
Total Debt Ratio |
2.07 % |
1.91 % |
2.03 % |
2.12 % |
|
Stock Turnover Ratio |
18.58 % |
18.39 % |
18.05 % |
19.16 % |
|
Return on Net Assets
Employed |
53.46 % |
48.42 % |
52.32 % |
40.68 % |
Achieving high
levels of turnover and profitability. The general financial position appears to
be in order and despite large frequent payment of dividend substantial reserves
have been maintained. Company is part of a large group whose turnover for 2014
amounted to GBP 1,273,100,000 and has 6,212 employees worldwide. Should
continue to trade well for the foreseeable future.
Next accounts due to be filled by 31/12/2015
Activity: Distributor of electronic, electrical and industrial
components
Trading Address: Lammas Road, Weldon Industrial Estate, Corby,
Northamptonshire NN17 5JF
You Give: Birchington Road, Corby, Northants, NN17 9RS – Registered
Office
Branches: Nationwide
Employees: 2,913
Bank: HSBC Bank PLC
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
|
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.