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Report No. : |
308321 |
|
Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ONFAB LIMITED |
|
|
|
|
Registered Office : |
Silk House Park Green Macclesfield Cheshire SK11 7QW |
|
|
|
|
Country : |
United Kingdom |
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|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
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Date of Incorporation : |
20.02.2009 |
|
|
|
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Com. Reg. No.: |
06825238 |
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|
|
|
Legal Form : |
Private limited with Share Capital |
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|
|
|
Line of Business : |
Manufacture of other plastic products |
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|
|
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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 |
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|
|
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Payment Behaviour : |
Slow but correct |
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|
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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 |
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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 |
ONFAB LIMITED
ONFAB
LIMITED Telephone 01606832080 or
01606530361
SILK
HOUSE PARK GREEN Fax
01606835435
MACCLESFIELD
Website
www.onfab.co.uk
CHESHIRE
SK11
7QW
United Kingdom
The latest Balance Sheet indicates a very positive net working capital position. The latest cash balances represent a positive level in terms of the overall outstanding creditor obligations.
There has been a reduction in shareholders funds compared with the previous balance sheet.
This company has been treated as a Small company in respect of the rating/limit generated. This company trades in an industry with a moderate level of corporate failures.
LEGAL FORM
Private limited with Share Capital
FOUNDATION
20/02/2009
COMPANY NO.
06825238
SHAREHOLDERS
|
Name |
Currency |
Number
of shares |
Share
type |
Nominal
value |
|
BRENDA MARIE LUNT |
GBP |
100 |
ORDINARY A |
1 |
|
OLIVER ANTHONY NULTY |
GBP |
900 |
ORDINARY |
1 |
|
Total Share Capital |
|
|
|
GBP 1,000 |
MANAGEMENT
|
Name |
Address: |
Date
of |
Nationality |
Appointment |
|
|
|
birth |
|
date |
|
Mr Oliver Anthony Nulty |
4 Rushton Drive, Middlewich, Cheshire CW10 0NJ |
28/06/1957 |
British |
20/02/2009 |
|
Ms Brenda Marie Lunt |
59 Nantwich Road, Middlewich, Cheshire CW10 9HD |
17/06/1962 |
British |
16/03/2011 |
COMPANY SECRETARY
|
Name |
Address: |
Appointment |
|
|
|
date |
|
Ms Lesley Jane Nulty |
4 Rushton Drive, Middlewich, Cheshire CW10 0NJ |
20/02/2009 |
|
|
|
|
OTHER KNOWN ADDRESSES
1 Verity Court, Middlewich, Cheshire CW10 0GW
Silk House, Park Green, Macclesfield, Cheshire SK11 7QW
Main activity
SIC03 Manufacture of other plastic products
SIC07 Manufacture of other plastic products
|
Turnover
and Employees |
|
|
|
Date
of Accounts |
Turnover |
Employees |
|
31/12/2011 |
Not Stated |
Not Stated |
|
31/12/2012 |
Not Stated |
Not Stated |
|
31/12/2013 |
Not Stated |
Not Stated |
EVENTS
|
Company
history |
|
|
Date |
Action |
|
02/03/2010 |
Annual Returns |
|
24/09/2010 |
New Accounts Filed |
|
01/03/2011 |
Annual Returns |
|
21/07/2011 |
New Accounts Filed |
|
21/07/2011 |
New Accounts Filed |
|
22/07/2011 |
New Board Member Ms B. Lunt appointed |
|
08/12/2011 |
Change in Reg.Office |
|
08/12/2011 |
Change of Company Postcode |
|
19/12/2011 |
Annual Returns |
|
28/05/2012 |
New Accounts Filed |
|
28/05/2012 |
New Accounts Filed |
|
10/01/2013 |
Annual Returns |
|
26/04/2013 |
New Accounts Filed |
|
26/04/2013 |
New Accounts Filed |
|
10/01/2014 |
Annual Returns |
|
03/10/2014 |
New Accounts Filed |
|
13/01/2015 |
Change in Reg.Office |
|
13/01/2015 |
Change of Company Postcode |
|
15/01/2015 |
Annual Returns |
MORTGAGES
|
Charge created |
20/07/2009 |
|
Charge registered |
18/02/2014 |
|
Status |
SATISFIED |
|
Entitled person |
BARCLAYS BANK PLC; |
|
Mortgage detail |
FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY
AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UN- CALLED
CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT AND MACHINERY |
|
|
|
|
Charge created |
25/11/2013 |
|
Charge registered |
28/11/2013 |
|
Status |
OUTSTANDING |
|
Entitled person |
LLOYDS BANK PLC; |
|
Mortgage detail |
CONTAINS
FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY
OR UNDERTAKING OF THE COMPANY. NOTIFICATION OF ADDITION TO OR AMENDMENT OF
CHARGE. |
County Court
Judgments (CCJs)
There are no County Court Judgments listed against this company
PROFIT & LOSS
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 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 |
12,193 |
14,026 |
12,893 |
2,497 |
|
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
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 52 GBP Group: No |
|
Tangible Assets |
62,595 |
71,462 |
59,879 |
63,843 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
62,595 |
71,462 |
59,879 |
63,843 |
|
Stock |
27,989 |
35,063 |
32,758 |
6,472 |
|
Trade Debtors |
172,815 |
196,367 |
118,340 |
0 |
|
Cash |
117,995 |
34,684 |
60,360 |
95,011 |
|
Other Debtors |
0 |
0 |
0 |
126,053 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total Current Assets |
318,799 |
266,114 |
211,458 |
227,536 |
|
Trade Creditors |
148,496 |
138,868 |
81,857 |
118,546 |
|
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 |
148,496 |
138,868 |
81,857 |
118,546 |
|
Bank Loans and Overdrafts LTL |
90,522 |
21,748 |
29,027 |
48,495 |
|
Other Long Term Finance |
0 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
90,522 |
21,748 |
29,027 |
48,495 |
CAPITAL &
RESERVES
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 52 GBP Group: No |
|
Called Up Share Capital |
199 |
199 |
199 |
100 |
|
P and L Account Reserve |
142,177 |
176,761 |
160,254 |
124,238 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
142,376 |
176,960 |
160,453 |
124,338 |
OTHER FINANCIAL ITEMS
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 52 GBP Group: No |
|
Net Worth |
142,376 |
176,960 |
160,453 |
124,338 |
|
Working Capital |
170,303 |
127,246 |
129,601 |
108,990 |
|
Total Assets |
381,394 |
337,576 |
271,337 |
291,379 |
|
Total Liabilities |
239,018 |
160,616 |
110,884 |
167,041 |
|
Net Assets |
142,376 |
176,960 |
160,453 |
124,338 |
CASH FLOW
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 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 |
83,311 |
-25,676 |
-34,651 |
94,577 |
MISCELLANEOUS
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 52 GBP Group: No |
|
|
|
|
|
|
|
Capital Employed |
232,898 |
198,708 |
189,480 |
172,833 |
FINANCIAL RATIOS
|
Name |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Pre Tax Profit Margin |
0.0% |
0.0% |
0.0% |
0.0% |
|
Current Ration |
2.15 |
1.92 |
2.58 |
1.92 |
|
Sales or Net Working Capital |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gearing |
63.58 % |
12.29 % |
18.09 % |
39.00 % |
|
Equity |
37.33 % |
52.42 % |
59.13 % |
42.67 % |
|
Creditor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Debtor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liquidity or Acid test |
1.95 |
1.66 |
2.18 |
1.86 |
|
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 |
1.04 % |
0.78 % |
0.51 % |
0.95 % |
|
Name |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Total Debt Ratio |
1.67 % |
0.90 % |
0.69 % |
1.34 % |
|
Stock Turnover Ratio |
0.0% |
0.0% |
0.0% |
0.0% |
|
Return on Net Assets Employed |
0.0% |
0.0% |
0.0% |
0.0% |
|
|
|
|
|
|
Only abbreviated financial statement has been filed. In 2013 Post Appropriation Loss amounted to GBP 34,584 (2012 Profit GBP 16,507). The general financial position seems to be in order and the apparent loss has been well covered from reserves. Remains to be seen how it further performed in 2014.
Activity: specialists in Flexible Containment Systems and solutions across the world.
Trading Address: 1 Verity Court, Middlewich, Cheshire, CW10 0GW
Branches: None
Employees: 10-15
Bank: Lloyds Bank PLC
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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.