MIRA INFORM REPORT

 

 

Report No. :

308353

Report Date :

18.02.2014

 

IDENTIFICATION DETAILS

 

Name :

STAIRRODS (UK) LIMITED

 

 

Registered Office :

Unit 6 Park Road North Industrial Estate Blackhill Consett County Durham DH8 5UN

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.08.2013

 

 

Date of Incorporation :

19.09.1985

 

 

Com. Reg. No.:

01948611

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Copper production and manufacturer.

 

 

No. of Employee :

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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

 

 

Company identification

 

 

STAIRRODS (UK) LIMITED

UNIT 6 PARK ROAD NORTH INDUSTRIAL ESTATE BLACKHILL CONSETT COUNTY DURHAM DH8 5UN UNITED KINGDOM

 

Telephone

 

+44 (0) 1207 591176

 

Fax

 

+44 (0) 1207 591911

Website

www.stairrodsuk.co.uk

 

Company Number:

 

Foundation:

 

 

01948611

 

19/09/1985

 

Status:

 

VAT No:

 

Active - Accounts Filed

 

N/A

 

 

Main indices

 

 

Comments

There has been an increase in shareholders funds compared with the previous balance sheet.

The latest cash balances are considered to be low in terms of the overall outstanding creditor obligations.

This company has been treated as a Small company. This company has only made late payments on a low percentage of invoices. The latest Balance Sheet indicates a positive net working capital position. This company trades in an industry with a moderate level of corporate failures.

 

 

Basic information

 

 

Legal form

Private limited with Share Capital

 

Foundation

19/09/1985

 

Company No.

01948611

 

Previous Names

 

 

Date of Change                   Previous Name

10/12/1986                             OLD ENGLISH STAIR RODS LIMITED

 

Shareholders

 

Name

Currency

Number of shares

Share type

Nominal value

CHRISTINE BROWN

GBP

1

ORDINARY

1

HELEN HERDMAN

GBP

10,000

ORDINARY B

1

JOHN RONALD RAINE

GBP

5,420

ORDINARY

1

STUART BROWN

GBP

10,000

ORDINARY B

1

STUART BROWN

GBP

5,420

ORDINARY

1

SUSAN ELIZABETH RAINE

GBP

1

ORDINARY

1

Total Share Capital                                                                                        GBP 30,842

 

Management

                                                                                                                                                                   

Directors

Name

Address:

Date of birth

Nationality

Appointment date

Mr John Ronald Raine

Ivy Cottage, Minsteracres, Consett, County Durham DH8 9RR

18/04/1959

British

21/03/1991

Mr Stuart Brown

26 Lodge Close, Hamsterley Mill, Rowlands Gill, Co Durham NE39 1HB

09/11/1954

British

21/03/1991

 

Company Secretary

Name

Address:

Appointment date

Mr John Ronald Raine

Ivy Cottage, Minsteracres, Consett, County Durham DH8 9RR

21/03/1991

 

 

Other Known Addresses

 

 

3-6 Industrial Estate, Park Road North, Blackhill, Consett, County Durham DH8 5UN

 

 

Business activities

 

 

Main activity

Principal Activity

Copper production and manufacturer.

SIC03

Copper production

SIC07

Copper production

 

 

Economic data

 

           

Turnover and Employees

 

 

Date of Accounts                       Turnover                                                                          Employees

31/08/2011                                   Not Stated                                                                     Not Stated

31/08/2012                                   Not Stated                                                                     Not Stated

31/08/2013                                   Not Stated                                                                     Not Stated                

 

 

Supplementary data

 

Banks

 

Bank Name

Bank Branch Sort Code

LLOYDS TSB BANK PLC

 

 

Events

 

Company history

Date                               Action

 

17/03/2010

Annual Returns

 

18/05/2010

New Accounts Filed

 

07/04/2011

Annual Returns

15/04/2011

New Accounts Filed

16/03/2012

Annual Returns

02/06/2012

New Accounts Filed

15/03/2013

Annual Returns

11/06/2013

New Accounts Filed

18/03/2014

Annual Returns

15/04/2014

New Accounts Filed

 

 

County Court Judgments (CCJs)

There are no County Court Judgments listed against this company

 

 

Accounts

 

Profit & Loss

 

 

 

31/08/2013

52

GBP

Group: No

31/08/2012

52

GBP

Group: No

31/08/2011

52

GBP

Group: No

31/08/2010

52

GBP

Group: No

Turnover

0

0

0

0

Export

-

-

-

-

Cost of Sales

-

-

-

-

Gross Profit

-

-

-

-

Wages And Salaries

0

0

0

0

Directors Emoluments

-

-

-

-

Operating Profit

-

-

-

-

Depreciation

4,932

4,455

4,519

4,049

Audit Fees

0

0

0

0

Interests Payments

-

-

-

-

Pre Tax Profit

0

0

0

0

Taxation

-

-

-

-

Profit After Tax

-

-

-

-

Dividends Payable

-

-

-

-

Retained Profit

-

-

-

-

 

Balance Sheet

 

 

31/08/2013

52

GBP

Group: No

31/08/2012

52

GBP

Group: No

31/08/2011

52

GBP

Group: No

31/08/2010

52

GBP

Group: No

Tangible Assets

14,796

13,364

13,557

12,150

Intangible Assets

0

0

0

0

Total Fixed Assets

14,796

13,364

13,557

12,150

Stock

300,244

306,679

314,193

252,617

Trade Debtors

231,999

178,568

176,716

168,003

Cash

409

0

0

0

Other Debtors

0

0

0

0

Miscellaneous Current Assets

0

0

0

0

Total Current Assets

532,652

485,247

490,909

420,620

Trade Creditors

382,366

336,942

342,213

291,850

Bank Loans and Overdraft

0

0

0

0

Other Short Term Finance

0

0

0

0

Miscellaneous Current Liabilities

0

0

0

0

Total Current Liabilities

382,366

336,942

342,213

291,850

Bank Loans and Overdrafts LTL

2,168

0

0

0

Other Long Term Finance

0

0

0

0

Total Long Term Liabilities

2,168

0

0

0

 

Capital & Reserves

 

 

31/08/2013

52

GBP

Group: No

31/08/2012

52

GBP

Group: No

31/08/2011

52

GBP

Group: No

31/08/2010

52

GBP

Group: No

Called Up Share Capital

30,842

30,842

30,842

10,842

P and L Account Reserve

131,912

130,667

131,251

129,918

Revaluation Reserve

0

0

0

0

Sundry Reserves

160

160

160

160

Shareholders Funds

162,914

161,669

162,253

140,920

 

Other Financial Items

 

 

31/08/2013

52

GBP

Group: No

31/08/2012

52

GBP

Group: No

31/08/2011

52

GBP

Group: No

31/08/2010

52

GBP

Group: No

Net Worth

162,914

161,669

162,253

140,920

Working Capital

150,286

148,305

148,696

128,770

Total Assets

547,448

498,611

504,466

432,770

Total Liabilities

384,534

336,942

342,213

291,850

Net Assets

162,914

161,669

162,253

140,920

 

Cash Flow

 

 

31/08/2013

52

GBP

Group: No

31/08/2012

52

GBP

Group: No

31/08/2011

52

GBP

Group: No

31/08/2010

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

409

0

0

0

 

Miscellaneous

 

 

 

31/08/2013

52

GBP

Group: No

31/08/2012

52

GBP

Group: No

31/08/2011

52

GBP

Group: No

31/08/2010

52

GBP

Group: No

Capital Employed

165,082

161,669

162,253

140,920

 

Financial Ratios

 

Name                                                                      31/08/2013     31/08/2012     31/08/2011     31/08/2010

 

Pre Tax Profit Margin

0.0%

0.0%

0.0%

0.0%

Current Ration

1.39

1.44

1.43

1.44

Sales or Net Working Capital

0.00

0.00

0.00

0.00

Gearing

1.33 %

0.00 %

0.00 %

0.00 %

Equity

29.76 %

32.42 %

32.16 %

32.56 %

Creditor Days

0.00

0.00

0.00

0.00

Debtor Days

0.00

0.00

0.00

0.00

Liquidity or Acid test

0.60

0.52

0.51

0.57

Return on Capital Employed

0.0%

0.0%

0.0%

0.0%

Return on Total Assets Employed

0.0%

0.0%

0.0%

0.0%

Current Debt Ratio

2.34 %

2.08 %

2.10 %

2.07 %

 

Name                                                                             31/08/2013     31/08/2012     31/08/2011     31/08/2010

 

Total Debt Ratio

2.36 %

2.08 %

2.10 %

2.07 %

Stock Turnover Ratio

0.0%

0.0%

0.0%

0.0%

Return on Net Assets Employed

0.0%

0.0%

0.0%

0.0%

 

 

Remarks

 

Only abbreviated financial statement has been filed. In 2012/2013 post Appropriation Profit amounted to GBP 1,245 (2011/2012 Loss GBP 584). Then general financial position seems to be in order and good reserves have been built up. Remains to be seen how it further performed in 2013/2014.

 

Activity: Manufacture and supply carpet and flooring products

 

Trading Address: Unit 6 Park Road North Industrial Estate, Park Road North, Blackhill, Consett, County Durham DH8 5UN

 

Branches:  None

 

Employees: Several staff

 

Bank: Lloyds Bank PLC

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.74

UK Pound

1

Rs.94.65

Euro

1

Rs.70.79

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SDA

 

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.