MIRA INFORM REPORT

 

 

Report No. :

302792

Report Date :

13.01.2015

 

IDENTIFICATION DETAILS

 

Name :

E.L.G. HANIEL METALS LIMITED

 

 

Formerly Known As :

E.L.G. METALS LIMITED

 

CLOISTERS ENGINEERING LIMITED

 

 

Registered Office :

Templeborough Works Sheffield Road, Tinsley, Sheffield South Yorkshire, S9 1RT

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

18.09.1980

 

 

Com. Reg. No.:

01517971

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

·         Metal Trading.

·         Sanitation, Remediation & Similar Activities.

·         Remediation activities and other waste management services

 

 

No. of Employees :

213

 

 

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 :

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

 

E.L.G. HANIEL METALS LIMITED

Telephone

+44 011 4244 3333

TEMPLEBOROUGH WORKS

Fax

-

SHEFFIELD ROAD,

Website

www.elg.co.uk

TINSLEY, SHEFFIELD

 

 

SOUTH YORKSHIRE

 

 

S9 1RT, United Kingdom

 

 

 

Company Number:

01517971

Status:

Active - Accounts Filed

Foundation:

18/09/1980

 

 

 

 

Main Indices

 

No exact match CCJs are recorded against the company. The company saw an increase in their Cash Balance of 185.2% during the latest trading period. The audit report contains no adverse comments.

The company’s credit rating has dropped from 89 to 61 but the company still indicates good creditworthiness. The credit limit on this company has fallen 15.6% in comparison to the previously suggested credit limit. Sales in the latest trading period decreased 21.1% on the previous trading period. Net Worth decreased by 5.8% during the latest trading period. A 35.4% decline in Total Assets occurred during the latest trading period. Pre-tax profits decreased by 15.7% compared to the previous trading period.

No recent changes in directorship are recorded. The company is part of a group. The company was established over 34 years ago.

 

 

Basic Information

 

Legal form

Private limited with Share Capital

 

Foundation

18/09/1980

 

Company No.

01517971

 

Previous Names

 

Date of Change

Previous Name

12/01/1987

E.L.G. METALS LIMITED

31/12/1981

CLOISTERS ENGINEERING LIMITED

 

Shareholders

 

Name

Currency

Number of shares

Share type

Nominal value

ELG HANIEL GMBH

GBP

2,700,000

ORDINARY A

1

ELG HANIEL GMBH

GBP

300,000

ORDINARY B

1

Total Share Capital

GBP 3,000,000

 

 

Management

 

Directors

Name

Address:

Date of

birth

Nationality

Appointment date

Mr Jon Paul Greenwood

Templeborough Works Sheffield Road, Sheffield, South Yorkshire S9 1RT

28/05/1966

British

06/09/2011

Mr Detlef Drafz

Templeborough Works, Sheffield Road,, Tinsley, Sheffield, South Yorkshire S9 1RT

27/06/1962

German

31/05/2007

Mr Norbert Spaker

Templeborough Works, Sheffield Road,, Tinsley, Sheffield, South Yorkshire S9 1RT

24/02/1957

German

31/05/2007

Mr Mark Andrew Vaughan

Templeborough Works Sheffield Road, Tinsley, Sheffield S9 1RT

27/04/1967

British

11/12/2012

 

Company Secretary

Name

Address:

Appointment date

Mr Jon Paul Greenwood

Templeborough Works, Sheffield Road,, Tinsley, Sheffield, South Yorkshire S9 1RT

27/01/2000

 

 

Other Known Addresses

12-14 River Road, Barking, Essex IG11 0DG

22 Kyle Road, Irvine Industrial Estate, Irvine, Ayrshire KA12 8LH

Ditton Road, Widnes, Cheshire WA8 0PP

Factory Road, Blaydon-on-tyne, Tyne and Wear NE21 5RZ

Heath Road, Wednesbury, West Midlands WS10 8LP

Raglan Street, Hyde, Cheshire SK14 2DX

Templeborough Works, Sheffield Road, Tinsley, Sheffield, South Yorkshire S9 1RT

The Docks, Sharpness, Berkeley, Gloucestershire GL13 9UX

Wadsley Lane, Sheffield, South Yorkshire S6 4EB

 

 

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Ireland

 

IE441034

UNICARE DISPENSERS 8 LIMITED

Other

Ireland

 

IE441037

UNICARE DISPENSERS 11 LIMITED

Other

Ireland

 

IE441038

UNICARE DISPENSERS 12 LIMITED

Other

Ireland

 

IE441039

UNICARE DISPENSERS 13 LIMITED

Other

Ireland

 

IE441042

UNICARE DISPENSERS 16 LIMITED

Other

Ireland

 

IE441046

UNICARE DISPENSERS 20 LIMITED

Other

Ireland

 

IE441047

UNICARE DISPENSERS 21 LIMITED

Other

Ireland

 

IE441053

UNICARE DISPENSERS 27 LIMITED

Other

Ireland

 

IE303991

UNICARE PHARMACY GROUP LIMITED

Other

Ireland

 

IE432755

DOL PHARMACY LIMITED

Other

Ireland

 

914498192

CWS-boco International GmbH

Active

Germany

 

IE273268

CWS-BOCO IRELAND LIMITED

Other

Ireland

 

IE474517

MICRON CLEAN (IRELAND) LIMITED

Other

Ireland

 

935368965

ELG Carbon Fibre International GmbH

Active

Germany

 

05191512

ELG CARBON FIBRE LIMITED

Active

United Kingdom

 

07038429

MILLED CARBON LIMITED

Non Trading

United Kingdom

 

07169480

GREEN CARBON FIBRE LIMITED

Non Trading

United Kingdom

 

07775356

RECYCLED CARBON FIBRE LIMITED

Non Trading

United Kingdom

 

910768824

ELG Utica Alloys International GmbH

Active

Germany

 

01476788

ABS INDUSTRIAL RESOURCES LIMITED

Active

United Kingdom

 

07793480

ELG UTICA ALLOYS LTD.

Active

United Kingdom

 

917028416

Kaiser + Kraft Europa GmbH

Active

Germany

 

01178566

KAISER + KRAFT LIMITED

Active

United Kingdom

 

02868348

POWELL MAIL ORDER LIMITED

Active

United Kingdom

 

Subsidiary companies

 

07917731

SHEARER MORMET LIMITED

Non Trading

United Kingdom

 

07917738

CONSOLIDATED STAINLESS RECYCLING LIMITED

Non Trading

United Kingdom

 

SC175193

HLWKH 507 LIMITED

Pending

United Kingdom

 

Immediate parent

 

913008301

ELG Haniel GmbH

Active

Germany

 

 

 

Business activities

 

Main activity

Principal Activity

Metal trading.

SIC03

Sanitation, remediation & similar activities

SIC07

Remediation activities and other waste management services

 

 

Economic data

 

Turnover and Employees

 

Date of Accounts

Turnover

Employees

31/12/2011

GBP 333,261,678

220

31/12/2012

GBP 235,734,051

225

31/12/2013

GBP 185,991,980

213

 

 

Supplementary Data

 

BANKS

Bank Name Bank                      Branch Sort Code

BARCLAYS BANK                     PLC 20-76-89

 

 

AUDITOR

Auditor name

HAWSONS

 

 

EVENTS

 

Company history

Date

Action

07/07/2010

New Accounts Filed

07/07/2010

New Accounts Filed

06/08/2010

Annual Returns

31/05/2011

New Accounts Filed

31/05/2011

New Accounts Filed

10/08/2011

Annual Returns

26/09/2011

New Board Member Mr J.P. Greenwood appointed

22/05/2012

New Accounts Filed

22/05/2012

New Accounts Filed

02/08/2012

Mr J.G. Edmiston has left the board

 

04/08/2012

Annual Returns

 

13/12/2012

New Board Member Mr M.A. Vaughan appointed

 

03/01/2013

Mr M.G. Wright has left the board

 

20/05/2013

New Accounts Filed

 

02/08/2013

Annual Returns

 

15/05/2014

New Accounts Filed

 

15/05/2014

New Accounts Filed

 

 

 

Mortgages

Charge created

23/09/1999

Charge registered

30/09/1999

Status

SATISFIED

Entitled person

DAVID JOHN STOKES AND MICHAEL JOSEPH MOORE

Mortgage detail

THE FREEHOLD PROPERTY KNOWN AS LAND ANDBUILDINGS THEREON AT WARDSEND ROAD, NORTH SHEFFIELD T/NO: SYK397255TOGETHER WITH ALL BUILDINGS FIXTURES (INCLUDING TRADE FIXTURES) FIXED PLANT ANDMACHIN-ERY THEREON THE GOODWILL OF ANY BUSINESS CARRIED ON AT THE PROP­ERTY THE BENEFIT OF ANY LICENCES AND REGISTRATIONSREQUIRED IN THE

RUNNING OF SUCH BUSINESS

 

 

County Court Judgments (CCJs)

There are no County Court Judgments listed against this company

 

 

Accounts

 

PROFIT AND 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

185,991,980

235,734,051

333,261,678

309,033,732

Export

89,405,744

87,367,782

110,577,774

114,823,259

Cost of Sales

175,136,551

222,331,025

313,484,410

288,289,964

Gross Profit

10,855,429

13,403,026

19,777,268

20,743,768

Wages And Salaries

6,683,691

7,796,677

7,942,567

7,662,031

Directors Emoluments

253,431

808,517

1,025,955

797,379

Operating Profit

3,400,124

4,483,258

10,585,956

12,024,993

Depreciation

1,339,624

1,413,234

1,336,068

1,234,143

Audit Fees

39,000

39,000

38,000

38,400

Interests Payments

1,667,750

2,396,826

2,411,391

1,843,961

Pre Tax Profit

1,810,666

2,147,473

8,246,808

10,191,038

Taxation

-424,810

-244,092

-1,914,886

-2,945,500

Profit After Tax

1,385,856

1,903,381

6,331,922

7,245,538

Dividends Payable

0

0

7,000,000

12,000,000

Retained Profit

1,385,856

1,903,381

-668,078

-4,754,462

 

 

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

11,063,630

12,111,229

16,618,618

14,499,219

Intangible Assets

11,794,314

11,835,778

11,868,294

11,859,293

Total Fixed Assets

22,857,944

23,947,007

28,486,912

26,358,512

Stock

26,285,739

47,963,804

35,741,486

63,711,405

Trade Debtors

14,673,877

24,691,491

23,415,867

24,870,899

Cash

1,643

576

0

0

Other Debtors

2,048,742

5,197,605

3,348,225

3,677,394

Miscellaneous Current Assets

269,636

585,311

0

0

Total Current Assets

43,279,637

78,438,787

62,505,578

92,259,698

Trade Creditors

9,627,034

12,511,723

16,069,833

17,790,470

Bank Loans and Overdraft

1,516,266

2,797,489

2,027,595

2,462,167

Other Short Term Finance

35,088,434

67,428,641

48,999,055

73,699,904

Miscellaneous Current Liabilities

1,097,734

1,329,866

2,443,747

2,609,331

Total Current Liabilities

47,329,468

84,067,719

69,540,230

96,561,872

Bank Loans and Overdrafts LTL

3,548,266

3,990,497

3,981,595

4,352,167

Other Long Term Finance

0

0

0

0

Total Long Term Liabilities

2,032,000

1,193,008

1,954,000

1,890,000

 

 

CAPITAL & RESERVES

 

 

31/12/2013

31/12/2012

31/12/2011

31/12/2010

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: No

Group: No

Group: No

Group: No

Called up share capital

3,000,000

3,000,000

3,000,000

3,000,000

P and L account Reserve

13,776,113

14,125,067

16,498,260

17,166,338

Revaluation Reserve

0

0

0

0

Sundry Reserves

0

0

0

0

Shareholders Funds

16,776,113

17,125,067

19,498,260

20,166,338

 

 

OTHER FINANCIALS 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

4,981,799

5,289,289

7,629,966

8,307,045

Working Capital

-4,049,831

-5,628,932

-7,034,652

-4,302,174

Total Assets

66,137,581

102,385,794

90,992,490

118,618,210

Total Liabilities

49,361,468

85,260,727

71,494,230

98,451,872

Net Assets

16,776,113

17,125,067

19,498,260

20,166,338

 

 

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

1,320,345

111,115

10,003,593

11,540,484

Net Cash Flow before Financing

1,282,290

-769,318

7,434,572

10,067,805

Net Cash Flow from Financing

0

0

-7,000,000

-12,000,000

Increase in Cash

1,067

576

0

0

 

 

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

18,808,113

18,318,075

21,452,260

22,056,338

 

 

FINANCIAL RATIOS

 

Name

31/12/2013

31/12/2012

31/12/2011

31/12/2010

Pre Tax Profit Margin

0.97 %

0.91 %

2.47 %

3.30 %

Current Ration

0.91

0.93

0.90

0.96

Sales or Net Working Capital

-45.93

-41.88

-47.37

-71.83

Gearing

21.15%

23.30 %

20.42 %

21.58%

Equity

30.87 %

18.91 %

24.64 %

18.89%

Creditor Days

18.84

19.31

17.55

20.95

Debtor Days

28.71

38.12

25.57

29.29

Liquidity or Acid test

0.35

0.36

0.38

0.29

Return on Capital Employed

9.62 %

11.72 %

38.44 %

46.20 %

Return on Total Assets Employed

2.73 %

2.09 %

9.06 %

8.59 %

Current Debt Ratio

2.82 %

4.90 %

3.56 %

4.78 %

Total Debt Ratio

2.94 %

4.97 %

3.66 %

4.88 %

Stock Turnover Ratio

14.13%

20.34 %

10.72%

20.61 %

Return on Net Assets Employed

10.79 %

12.53 %

42.29 %

50.53 %

 

 

 

 

 

 

 

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.62.16

UK Pound

1

Rs.94.28

Euro

1

Rs.73.73

 

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%)

 

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.