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Report No. : |
303667 |
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Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SLACK AND PARR LIMITED |
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Formerly Known As : |
SLACK AND PARR (INVESTMENTS) LIMITED |
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Registered Office : |
Long Lane, Kegworth, Derby, Derbyshire DE74 2FL |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
01.09.1997 |
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Com. Reg. No.: |
03427086 |
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Legal Form : |
Private limited with Share Capital |
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Line of Business : |
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No. of Employee : |
195 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
United Kingdom |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
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Telephone |
+44 (0) 1509
672306 |
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LONG
LANE |
Fax |
+44 (0) 1509
673357 |
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KEGWORTH |
Website |
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DERBY |
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DE74
2FL |
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United Kingdom |
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Company Number: Foundation: |
03427086 01/09/1997 |
Status: VAT No: |
Active - Accounts Filed GB118412102 |
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This company
trades in an industry with a lower level of corporate failures. This company has made late
payments on a high percentage of invoices. This company has been treated as a Medium
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.
This company’s return on total assets employed ratio indicates a relatively efficient use of assets.
This company’s bank loans
and overdrafts (less cash)
account for a moderate percentage of short term liabilities. |
|
Legal form |
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Foundation 01/09/1997 |
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Company No. 03427086 |
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Date |
Previous Name |
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28.03.1998 |
SLACK AND PARR (INVESTMENT) LIMITED |
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31.12.1997 |
KELKEY LIMITED |
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Name |
Currency |
Number of shares |
Share type |
Nominal value |
|
SLACK PARR (INVESTMENT) LTD |
GBP |
6000000 |
Ordinary |
1 |
|
Total share capital |
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|
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Directors |
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|
Name |
Address |
Date of birth |
Nationality |
Appointment |
|
Mr. Timothy Barwell Barrinton |
20 Market Place, Kegworth, Derby DE742EE |
10.07.1949 |
British |
01.01.2001 |
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Mr. Simon Lancaster Barrington |
Fawley Cottage, Butt Lane, Normanton On Soar,
Leicestershire LE 12 5EE |
21.07.1946 |
British |
01.01.2001 |
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Mr. Richard Edward Hallsworth |
Rosecroft, 48 Main Street, Osgathorpe, Leicestreshire
Le12 9TA |
04.10.1967 |
British |
01.09.2003 |
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Mr. Neil John Anderton |
6 Faires Close, Borrowash, Derby, Derbyshire
DE72 3XP |
25.10.1968 |
British |
01.10.2006 |
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Mr. Richard James Wilson |
1 Pollards Oaks, Borrowash, Derby, Debyshire
DE72 3QU |
03.02.1966 |
British |
01.10.2006 |
|
Mr. Edward Pilsworth Barrington |
88 Maplewell Road, Woodhouse Eves,
Loughborough, Leicestrershire LE 12 8RA |
14.09.1978 |
British |
23.01.2008 |
|
Name |
Address: |
Appointment date |
|
Mr. Raymond
Allan Howard |
49 Wilcox
Drive, Melton
Mowbray, Leicestershire LE13 1HH |
10/09/2001 |
Long Lane, Kegworth,
Derby, Derbyshire DE74 2FL
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Company No. |
Name |
Status |
Country |
|
Ultimate parent |
|
|
|
|
00147954 |
SLACK
& PARR
(INVESTMENTS) LIMITED |
Active |
United Kingdom |
|
Principal Activity |
Manufacture of gear pumps and general
sub-contracting. |
|
SIC03 |
Manufacture for textile, apparel &
leather |
|
SIC07 |
Manufacture of machinery for textile, apparel
and leather production |
Turnover and Employees
|
Date of Accounts |
Turnover |
Employees |
|
31.03.2012 |
GBP 13,871,000 |
221 |
|
31.03.2013 |
GBP 12,771,000 |
208 |
|
31.03.2014 |
GBP 13,862,000 |
195 |
Auditor
Auditor name
KPMG LLP
|
Company history |
|
|
Date |
Action |
|
11.09.2010 |
Annual
Return |
|
13.12.2010 |
New accounts
Filed |
|
25.02.2011 |
New Board
Member Mr. S.J. Taylor Appoined |
|
13.09.2011 |
Annual
Returns |
|
23.12.2011 |
New Accounts
Filed |
|
08.09.2012 |
Annual
Returns |
|
12.09.2012 |
New Accounts
Filed |
|
09.09.2013 |
Annual
Return |
|
03.12.2013 |
New Accounts
Filed |
|
05.09.2014 |
Annual
Returns |
|
05.09.2014 |
Mr. S. J.
Taylor has left board |
|
05.09.2014 |
Mr. N.E.
Hallsworth has left the board |
|
13.12.2014 |
New Accounts
Filed |
|
Country Court Judgments (CCJs) |
|
There are no
Country Court Judgments Listed against this company |
Profit
& Loss
|
|
31/03/2014 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 |
|
Turnover |
13,862,000 |
12,771,000 |
13,871,000 |
9,540,000 |
|
Export |
11,852,000 |
10,933,000 |
11,242,000 |
6,576,000 |
|
Cost of Sales |
- |
- |
- |
- |
|
Gross Profit |
- |
- |
- |
- |
|
|
31/03/2014 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 |
|
Wages And Salaries |
5085000 |
5400000 |
5618000 |
4815000 |
|
Directors Emoluments |
412000 |
391000 |
357000 |
287000 |
|
Operating Profit |
277000 |
523000 |
265000 |
-1462000 |
|
Depreciation |
63100 |
569000 |
521000 |
500000 |
|
Audit Fees |
13000 |
13000 |
13000 |
13000 |
|
Interests Payments |
114000 |
63000 |
0 |
0 |
|
Pre Tax Profit |
163000 |
460000 |
265000 |
-1462000 |
|
Taxation |
41000 |
53000 |
35000 |
0 |
|
Profit After Tax |
204000 |
513000 |
300000 |
-1462000 |
|
Dividends Payable |
0 |
0 |
0 |
0 |
|
Retained Profit |
204000 |
513000 |
300000 |
-1462000 |
Balance Sheet
|
|
31/03/2014 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 |
|
Tangible Assets |
5706000 |
4453000 |
3486000 |
2525000 |
|
Intangible Assets |
5706000 |
4453000 |
0 |
0 |
|
Total Fixed Assets |
5706000 |
3130000 |
3486000 |
2525000 |
|
Stock |
2609000 |
1687000 |
2724000 |
2513 |
|
Trade Debtors |
1380000 |
40000 |
1421000 |
1541000 |
|
Cash |
59000 |
772000 |
72000 |
183v |
|
Other Debtors |
1221000 |
0 |
1898000 |
771000 |
|
Miscellaneous Current Assets |
0 |
5629000 |
0 |
0 |
|
Total Current Assets |
5269000 |
780000 |
6115000 |
5008000 |
|
Trade Creditors |
879000 |
656000 |
957000 |
938000 |
|
Bank Loans and Overdraft |
466000 |
656000 |
756000 |
275000 |
|
Other Short Term Finance |
5222000 |
5112000 |
5374000 |
4347000 |
|
Miscellaneous Current Liabilities |
994000 |
831000 |
1036v |
153000 |
|
Total Current Liabilities |
7561000 |
7379000 |
8123000 |
7098v |
|
Bank Loans and Overdrafts LTL |
2478000 |
2161000 |
1549000 |
325v |
|
Other Long Term Finance |
2012000 |
1505000 |
793000 |
50000 |
|
Total Long Term Liabilities |
2012000 |
1505000 |
793000 |
50000 |
Capital & Reserves
|
|
31/03/2014 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 |
6000000 |
6000000 |
6000000 |
6000000 |
|
P and L Account Reserve |
-4598000 |
-4802000 |
-5315000 |
-5615000 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
1402000 |
1198000 |
685000 |
385000 |
Other Financial Items
|
|
31/03/2014 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 |
1402000 |
1198000 |
685000 |
385000 |
|
Working Capital |
-2292000 |
-1750000 |
-2008000 |
-2090000 |
|
Total Assets |
10975000 |
10082000 |
9601000 |
7533000 |
|
Total Liabilities |
9573000 |
8884000 |
8916000 |
7148000 |
|
Net Assets |
1402000 |
1198000 |
685000 |
385000 |
Cash Flow
|
|
31/03/2014 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 |
19000 |
-32000 |
-111000 |
176000 |
Miscellaneous
|
|
31/03/2014 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 |
3414000 |
2703000 |
1478000 |
435000 |
|
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Pre Tax Profit Margin |
1.18% |
3.60% |
1.91% |
-15.32 |
|
Current Ration |
0.70 |
0.6 |
0.75 |
0.71 |
|
Sales or Net Working Capital |
-6.05 |
-7.30 |
-6.91 |
-4.56 |
|
Gearing |
176.75% |
180.38% |
226.13% |
84.42% |
|
Equity |
12.77% |
11.88% |
7.13% |
5.11% |
|
Creditor Days |
2308 |
23.23 |
25.11 |
35.78 |
|
Debtor Days |
36.23 |
48.08 |
37.28 |
58.79 |
|
Liquidity or Acid test |
0.35 |
0.33 |
0.41 |
0.35 |
|
Return on Capital Employed |
4.77% |
17.01% |
17.92% |
-336.09% |
|
Return on Total Assets Employed |
1.48% |
4.56% |
2.76% |
-19.40% |
|
Current Debt Ratio |
5.39% |
6.15% |
11.85% |
18.43% |
|
Total Debt Ratio |
6.82% |
7.41% |
13.01% |
18.56% |
|
Stock Turnover Ratio |
18.82% |
24.50% |
19.63% |
26.34% |
|
Return on Net Assets Employed |
11.62% |
38.39% |
38.68% |
-373.74% |
Achieving good levels of turnover and profitability in recent years. The
general financial position seems satisfactory but despite recent profits there
still remains a high deficit in the profit and loss account. Remains to be seen
how it further performs in 2014/2015.
Activity: Manufacture
of Gear Pumps and General Sub-contracting.
Trading Address: Long
Lane, Kegworth, Derby, Derbyshire.DE74 2FL
Branches: China
and USA
Employees: 195
Bank: National
Westminster Bank PLC
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.84 |
|
|
1 |
Rs. 93.26 |
|
Euro |
1 |
Rs. 71.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
ASH |
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.