|
Report No. : |
304179 |
|
Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
DIRECT PRESS MARKETING LIMITED |
|
|
|
|
Formerly Known As : |
FILEDISK LIMII ED |
|
|
|
|
Registered Office : |
Unit 1 Churchill Business Park, Hortons Way, Westerham,
Kent, Tn16 1bt |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
11.08.1998 |
|
|
|
|
Com. Reg. No.: |
03613183 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
·
The supply of equipment to
the graphic arts industry, in particular that of used printing presses and
ancillary equipment. ·
Agents in industrial
equipment. ·
Agents involved in the
sale of machinery, industrial equipment, ships and aircraft |
|
|
|
|
No. of Employee : |
10 [2014] |
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 – 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 |
|
DIRECT PRESS MARKETING LIMITED |
|
Unit
1 Churchill Business Park |
|
Hortons
Way |
|
Westerham
|
|
Kent
|
|
Tn16
1bt |
|
United
Kingdom |
|
Telephone
|
+44
(0) 1959 569900 |
|
Fax |
+44
(0) 1959 569911 |
|
Website
|
www.dpm.uk.com
|
|
Company Number: Foundation: |
03613183 11/08/1998 |
Status: VAT No: |
Active - Accounts Filed N/A |
Payment experience and credit
opinion
This company’s return on total assets employed ratio indicates a relatively efficient use of assets. The company has more cash than short term bank borrowings. This company trades in an industry with a lower level of corporate failures. 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.
Legal form
Private limited with Share Capital
Foundation
11/08/1998
Company No.
03613183
Previous Names
|
Date of Change |
Previous Name |
|
17/09/1998 |
FILEDISK LIMII ED |
Shareholders
|
Name |
Currency |
Number of shares |
Share type |
Nominal value |
|
UAVIU MICHAEL GRACE |
GBP |
2,125 |
ORDINARY C |
0.01 |
|
DEAN BECKETT |
GBP |
6,375 |
ORDINARY B |
0.01 |
|
MARK ST JOHN SHELDRICK |
GBP |
34,000 |
ORDINARY A |
0.01 |
|
Total Share Capital |
|
|
|
GBP 425 |
Management
|
Directors |
||||
|
Name |
Address: |
Date of Birth |
Nationality |
Appointment date |
|
Mr Mark St John Sheldrick |
1 Hethersett Close, Reigate, Surrey RH20HQ |
30/11/1965 |
British |
21/10/1998 |
|
Mr David Michael Grace |
2 Southview Close, Newlands Park, Copthorne, West
Sussex RH10 3XU |
16/04/1965 |
British |
17/11/1999 |
|
Mr Dean Beckett |
134 Cottimore Avenue, Walton On Thames, Surrey KT12
2AG |
21/03/1977 |
British |
16/08/2007 |
|
Company
Secretary |
||
|
Name |
Address: |
Appointment date |
|
Mr Mark St John Sheldrick |
Unit 1 Churchill Business Park, Hortons Way,
Westerham, Kent TN16 1BT |
17/02/2010 |
Other Known Addresses
Unit 1, Churchill Business Park, Hortons Way,
Westerham, Kent TN16 1BT
Business Activities
|
Main activity |
|
|
Principal Activity |
The supply of equipment to the graphic arts industry,
in particular that of used printing presses and ancillary equipment. |
|
SIC03 |
Agents in industrial equipment. |
|
SIC07 |
Agents involved in the sale of machinery, industrial
equipment, ships and aircraft |
Economic Data
Turnover and Employees
|
Date of
Accounts |
Turnover |
Employees |
|
31/03/2012 |
GBP 16,090,188 |
11 |
|
31/03/2013 |
GBP 14,809,121 |
11 |
|
31/03/2014 |
GBP 17,643,371 |
10 |
Supplementary Data
Banks
|
Bank Name |
Bank Branch Sort Code |
|
NATIONAL WESTMINSTER BANK PLC |
|
Auditor
Auditor name
MCKENZIES
Events
|
Company History |
|
|
Date |
|
|
10/03/2010 |
Mr S.R. Leonard has
resigned as company secretary |
|
10/03/2010 |
Mr S.R. Leonard has left
the board |
|
10/03/2010 |
Mr J.C. Topham has left
the board |
|
10/03/2010 |
New Company Secretary Mr
M.S. Sheldrick appointed |
|
27/10/2010 |
Annual Returns |
|
14/12/2010 |
New Accounts Filed |
|
14/12/2010 |
New Accounts Filed |
|
19/08/2011 |
Annual Returns |
|
08/09/2011 |
New Accounts Filed |
|
28/08/2012 |
Annual Returns |
|
04/12/2012 |
New Accounts Filed |
|
04/12/2012 |
New Accounts Filed |
|
16/08/2013 |
Annual Returns |
|
31/12/2013 |
New Accounts Filed |
|
16/08/2014 |
Annual Returns |
|
19/12/2014 |
New Accounts Filed |
|
19/12/2014 |
New Accounts Filed |
Mortgages
|
Charge
created |
19/02/1999 |
|
Charge
registered |
01/03/1999 |
|
Status |
OUTSTANDING |
|
Entitled
person |
NATIONAL WESTMINSTER BANK
PLC |
|
Secured
amount |
ALL MONIES DUE OR TO BECOME
DUE FROM THE COMPANY TO THE CHARGEE IN RELATION TOAN ADVANCE PAYMENT
GUARANTEE IN FAVOUR OF PRINTING ARTS/LITHO TECH LLC FOR GBP 773,030 |
|
Mortgage
detail |
THE SUM OF GBP 773,030
TOGETHER WITH INTEREST ACCRUED NOW OR TO BE HELD BY NATIONAL WESTMISTER BANK
PLC ON AN ACCOUNT NUMBERED 50674390 AND EARMARKED OR DESIGNATED BY REFERENCE
TO THE COMPANY. |
|
Charge
created |
19/07/1999 |
|
Charge
registered |
28/07/1999 |
|
Status |
SATISFIED |
|
Entitled
person |
CLOSE ASSET FINANCE LTD |
|
Secured
amount |
ALL MONIES DUE OR TO
BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE CLOSE ASSET
AGREEMENT OR OTHERWISE |
|
Mortgage
detail |
ALL ITS RIGHTS AND
INTERESTS IN:- 1. A SUB-HIRE AGREEMENT DATED 23.2.99 WITH FORD MOTOR CO. LTD.
IN RESPECT OF ONE HEIDELBERG SPEEDMASTER 725 COLOUR OFFSET PRINTING PRESS
COMPLETE WITH ALL RELATED ANCILLARY EQUIPMENT. 2. ALL ITS RIGHTS UNDER
CUSTOMERS SECURITIES TAKEN IN RESPECTOF THE SUB-HIRE AGREEMENT |
|
Charge
created |
01/12/2004 |
|
Charge
registered |
03/12/2004 |
|
Status |
SATISFIED |
|
Entitled
person |
NATIONAL WESTMINSTER BANK
PLC |
|
Secured
amount |
ALL MONIES DUE OR TO
BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Mortgage
detail |
ALL DEPOSITS CREDITED TO ACCOUNT
DESIGNATION 73531804 WITH THE BANK AND ANY DEPOSIT OR ACCOUNT OF ANY OTHER
CURRENCY DESCRIPTION OR DESIGNATION WHICH DERIVES IN WHOLE OR IN PART FROM
SUCH DEPOSITS ORACCOUNT |
|
Charge
created |
02/04/2009 |
|
Charge
registered |
08/04/2009 |
|
Status |
OUTSTANDING |
|
Entitled
person |
NATIONAL WESTMINSTER BANK
PLC |
|
Secured
amount |
ALL MONIES DUE OR TO
BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Mortgage
detail |
FIXED AND FLOATING CHARGE OVER
THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING
GOODWILL, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXEDPLANT AND MACHINERY |
|
Charge
created |
21/10/2010 |
|
Charge
registered |
09/11/2010 |
|
Status |
SATISFIED |
|
Entitled person |
NATIONAL WESTMINSTER BANK
PLC |
|
Mortgage detail |
ALL AMOUNTS NOW AND IN THE
FUTURE CREDITED TO ACCOUNT NUMBER 73683922 WITH THE BANK. |
|
Charge created |
31/10/2012 |
|
Charge registered |
14/11/2012 |
|
Status |
OUTSTANDING |
|
Entitled person |
NATIONAL WESTMINSTER BANK
PLC |
|
Secured amount |
ALL MONIES DUE OR TO
BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Mortgage detail |
UNIT 9 CHURCHILL BUSINESS PARK
T/NO K772152 BY WAY OF FIXED CHARGE ANY OTHER INTEREST IN THE PROPERTY, ALL
RENTS RECEIVABLE AND ALL PLANT MACHINERY FIXTURES FITTINGS FURNITURE
EQUIPMENT IMPLEMENTS AND UTENSILS. THE GOODWILL OF ANY BUSINESS CARRIED ON AT
THE PROPERTY AND THE PROCEEDSOF ANY INSURANCE AFFECTING THE PROPERTYOR
ASSETS. |
|
Charge created |
31/10/2012 |
|
Charge registered |
14/11/2012 |
|
Status |
OUTSTANDING |
|
Entitled person |
NATIONAL WESTMINSTER BANK
PLC |
|
Secured amount |
ALL MONIES DUE OR TO BECOME
DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Mortgage detail |
UNIT 1 CHURCHILL BUSINESS
PARK T/NO K772152 BY WAY OF FIXED CHARGE ANY OTHER INTEREST IN THE PROPERTY,
ALL RENTS RECEIVABLE AND ALL PLANT MACHINERY FIXTURES FITTINGS FURNITURE
EQUIPMENT IMPLEMENTS AND UTENSILS. THE GOODWILL OF ANY BUSINESS CARRIED ON AT
THE PROPERTY AND THE PROCEEDSOF ANY INSURANCE AFFECTING THE PROPERTYOR
ASSETS. |
|
Charge created |
18/09/2014 |
|
Charge registered |
19/09/2014 |
|
Status |
OUTSTANDING |
|
Entitled person |
HSBC BANK PLC; |
|
Mortgage details |
A LEGAL MORTGAGE OVER THE FREEHOLD PROPERTY KNOWN AS
UNIT 1 AND UNIT 9, CHURCHILL BUSINESS PARK, HORTONS WAY, WESTERHAM AND PARKING
SPACES HM LAND REGISTRY TITLE NUMBER(S) TT9380CONTAINS NEGATIVE PLEDGE. |
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 |
17,643,371 |
14,809,121 |
16,090,188 |
18,540,892 |
|
Export |
- |
- |
- |
- |
|
Cost of
Sales |
15,877,816 |
13,237,741 |
14,056,544 |
16,434,398 |
|
Gross
Profit |
1,765,555 |
1,571,380 |
2,033,644 |
2,106,494 |
|
Wages And
Salaries |
506,188 |
568,129 |
657,339 |
563,983 |
|
Directors
Emoluments |
158,538 |
310,014 |
318,484 |
308,848 |
|
Operating
Profit |
570,936 |
380,013 |
718,144 |
874,262 |
|
Depreciation |
17,013 |
25,961 |
13,766 |
14,067 |
|
Audit Fees |
10,500 |
10,500 |
8,000 |
7,750 |
|
Interests
Payments |
48,737 |
50,693 |
36,486 |
20,550 |
|
Pre Tax
Profit |
522,631 |
329,579 |
682,677 |
854,124 |
|
Taxation |
-131,166 |
-85,614 |
-185,021 |
-309,331 |
|
Profit
After Tax |
391,465 |
243,965 |
497,656 |
544,793 |
|
Dividends
Payable |
130,567 |
0 |
0 |
0 |
|
Retained
Profit |
260,898 |
243,965 |
497,656 |
544,793 |
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 |
733,954 |
750,967 |
26,511 |
35,988 |
|
|
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 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
|
Total Fixed
Assets |
733,954 |
750,967 |
26,511 |
35,988 |
|
Stock |
2,342,081 |
2,954,161 |
1,872,836 |
1,862,597 |
|
Trade Debtors |
1,123,189 |
2,444,846 |
1,167,255 |
3,718,622 |
|
Cash |
1,548,596 |
222,366 |
521,140 |
552,270 |
|
Other Debtors |
536,598 |
601,634 |
883,657 |
716,077 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total
Current Assets |
5,550,464 |
6,223,007 |
4,444,888 |
6,849,566 |
|
Trade Creditors |
1,196,348 |
1,908,076 |
1,025,266 |
2,809,816 |
|
Bank Loans and Overdraft |
159,873 |
904 |
0 |
0 |
|
Other Short Term Finance |
0 |
197,583 |
94,533 |
100,000 |
|
Miscellaneous Current Liabilities |
1,492,684 |
1,650,193 |
900,021 |
2,019,378 |
|
Total
Current Liabilities |
2,848,905 |
3,756,756 |
2,019,820 |
4,929,194 |
|
Bank Loans and Overdrafts LTL |
639,105 |
522,739 |
161 |
2,598 |
|
Other Long Term Finance |
0 |
0 |
0 |
0 |
|
Total Long
Term Liabilities |
479,232 |
521,835 |
161 |
2,598 |
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 |
425 |
425 |
425 |
425 |
|
P and L Account Reserve |
2,955,281 |
2,694,383 |
2,450,418 |
1,952,762 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
575 |
575 |
575 |
575 |
|
Shareholders Funds |
2,956,281 |
2,695,383 |
2,451,418 |
1,953,762 |
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 |
2,956,281 |
2,695,383 |
2,451,418 |
1,953,762 |
|
Working
Capital |
2,701,559 |
2,466,251 |
2,425,068 |
1,920,372 |
|
Total Assets |
6,284,418 |
6,973,974 |
4,471,399 |
6,885,554 |
|
Total
Liabilities |
3,328,137 |
4,278,591 |
2,019,981 |
4,931,792 |
|
|
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 Assets |
2,956,281 |
2,695,383 |
2,451,418 |
1,953,762 |
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 |
1,670,248 |
63,702 |
254,651 |
-219,440 |
|
Net Cash
Flow before Financing |
1,406,524 |
-923,640 |
-25,663 |
-545,207 |
|
Net Cash
Flow from Financing |
-239,263 |
623,962 |
-5,467 |
-15,613 |
|
Increase in
Cash |
1,326,230 |
-298,774 |
-31,130 |
-560,820 |
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 |
3,435,513 |
3,217,218 |
2,451,579 |
1,956,360 |
Financial Ratios
|
Name |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Pre Tax
Profit Margin |
2.96 % |
2.23 % |
4.24 % |
4.61 % |
|
Current
Ration |
1.95 |
1.66 |
2.20 |
1.39 |
|
Sales or
Net Working Capital |
6.53 |
6.00 |
6.63 |
9.65 |
|
Gearing |
21.62 % |
19.39 % |
0.01 % |
0.13 % |
|
Equity |
47.04 % |
38.65 % |
54.82 % |
28.37 % |
|
Creditor
Days |
24.68 |
46.89 |
23.19 |
55.16 |
|
Debtor Days |
23.17 |
60.09 |
26.40 |
73.00 |
|
Liquidity or
Acid test |
1.12 |
0.87 |
1.27 |
1.01 |
|
Return on
Capital Employed |
15.21 % |
10.24 % |
27.84 % |
43.65 % |
|
Return on
Total Assets Employed |
8.31 % |
4.72 % |
15.26 % |
12.40 % |
|
Current
Debt Ratio |
0.96 % |
1.39 % |
0.82 % |
2.52 % |
|
Total Debt Ratio |
1.12 % |
1.58 % |
0.82 % |
2.52 % |
|
Stock
Turnover Ratio |
13.27 % |
19.94 % |
11.63 % |
10.04 % |
|
Return on
Net Assets Employed |
17.67 % |
12.22 % |
27.84 % |
43.71 % |
Achieving good levels of turnover and profitably. The general
financial position appears to be in order and despite payment of dividend good
reserves have been built up. Should continue to trade well or the foreseeable
future.
Next accounts due to be filled by 31/12/2015
Activity: Europe's foremost supplier of used printing
equipment
Trading Address: Unit 1 Churchill Business Park
Hortons Way Westerham Kent TN16 1BT Branches: None
Employees: 10
Bank: National Westminster Bank PLC
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.61 |
|
|
1 |
Rs.93.49 |
|
Euro |
1 |
Rs.71.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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%)
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risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.