MIRA INFORM REPORT

 

 

Report No. :

326068

Report Date :

06.06.2015

 

IDENTIFICATION DETAILS

 

Name :

CARDEL LIMITED

 

 

Formerly Known As :

CARD-EL LIMITED

 

 

Registered Office :

5 Marquis Centre, Baldock, Hertfordshire, SG7 6XL

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.01.2014

 

 

Date of Incorporation :

31.01.1996

 

 

Com. Reg. No.:

03153417

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Provision of services in plastic card technology, manufacture of stainless & real lamination plates, manufacture of magnetic striped pvc.

 

 

No. of Employees :

13 (2014)

 

 

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 – 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

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. 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. In 2008, 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. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. 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 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 5.8% in 2013. The Bank of England (BoE) implemented an asset purchase program of �375 billion (approximately $586 billion) as of December 2014. 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 1.8%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

 

 

Source : CIA

 

 

Company Name

 

CARDEL LIMITED

 

 

Company No

 

03153417

 

 

Company Status

 

Active

 

 

Address

 

5 MARQUIS CENTRE

BALDOCK

HERTFORDSHIRE

SG7 6XL

 

 

Company Summary

 

Registered Address                  5 MARQUIS CENTRE                Trading Address           5 Marquis Centre

BALDOCK                                                                    Baldock

HERTFORDSHIRE                                                         Herts
SG7 6XL                                                                       SG7 6XL

 

Website Address                      http://www.cardel.co.uk

Telephone Number                   01462491702                             Fax Number

TPS                                          No                                            FPS                              No

Incorporation Date                   31/01/1996

Previous Name                         CARD-EL LIMITED                    Type                             Private limited with

Share Capital

FTSE Index                              -

Date of Change                         28/07/1997                                Filing Date of Accounts 31/10/2014

Currency                                  GBP                                         Share Capital               £1,000

SIC07                                       32990                                       Charity Number            -

SIC07 Description                    OTHER MANUFACTURING N.E.C.

Principal Activity                      Provision of services in plastic card technology, manufacture of stainless & real

lamination plates, manufacture of magnetic striped pvc.

 

 

Key Financials

 

Year to Date

Turnover                    Pre Tax Profit

Shareholder

Funds Employees

31/01/2014

£5,414,525                    -£221,445

£3,079,678

13

31/01/2013

£5,058,861                     £1,146,715

£3,491,042

13

31/01/2012

£5,717,377                      £907,627

£2,748,016

-

 

 

Mortgage Summary

 

Total Mortgage

1

Outstanding

1

Satisfied

0

 

 

Trade Debtors / Bad Debt Summary

 

Total Number of Documented Trade                 1

Total Value of Documented Trade                    £34,131

 

 

Commentary

 

This company has been treated as a Small company in respect of the rating/limit generated.

This company has made late payments on a high percentage of invoices.

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.

 

 

CCJ

 

Total Number of Exact CCJs -               0                                  Total Value of Exact CCJs –

Total Number of Possible CCJs -          0                                  Total Value of Possible CCJs -

Total Number of Satisfied CCJs-           0                                  Total Value of Satisfied CCJs -

Total Number of Writs -                        -

 

 

Total Current Directors                                       2

Total Current Secretaries                                    1

Total Previous Directors / Company Secretaries 6

 

 

Current Directors

 

Name

Maximilian George Silver

Date of Birth

05/12/1985

Officers Title

Mr

Nationality

British

Present Appointments

3

Function

Director

Appointment Date

01/05/2015

Address

5 Marquis Centre, Baldock, Hertfordshire, SG7 6XL

 

 

 

 

Name

Rajiv Bhala

Date of Birth

04/11/1985

Officers Title

Mr

Nationality

 

Present Appointments

3

Function

Director

Appointment Date

01/05/2015

 

 

Address

5 Marquis Centre, Baldock, Hertfordshire, SG7 6XL

 

 

Current Company Secretary

 

Name

Maximilian George Silver

Date of Birth

-

Officers Title

Mr

Nationality

Present Appointments

1

Function

Company Secretary

Appointment Date

01/05/2015

Address

5 Marquis Centre, Baldock, Hertfordshire, SG7 6XL

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

SATSUMEL HOLDINGS LTD

GBP

900

ORDINARY

1

90

MR DENNIS ANGUIGE

GBP

100

ORDINARY

1

10

 

 

Profit & Loss

 

Date Of Accounts

31/01/14

(%)

31/01/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

£5,414,525

7%

£5,058,861

-11.5%

£5,717,377

-

-

-

-

Export

-

-

£4,534,257

-10.7%

£5,075,507

-

-

-

-

Cost of Sales

£2,536,177

21.5%

£2,087,994

-34%

£3,164,635

-

-

-

-

Gross Profit

£2,878,348

-3.1%

£2,970,867

16.4%

£2,552,742

-

-

-

-

Wages & Salaries

£415,256

-62.1%

£1,094,409

-4%

£1,140,411

-

-

-

-

Directors Emoluments

£42,721

-93.2%

£629,378

-3.1%

£649,575

-

-

-

-

Operating Profit

£1,530,168

38.3%

£1,106,066

27.4%

£868,494

-

-

-

-

Depreciation

£82,839

-5.4%

£87,574

14.9%

£76,238

37.9%

£55,267

18.2%

£46,740

Audit Fees

£1,700

-

£1,700

6.3%

£1,600

-

-

-

-

Interest Payments

£416

212.8%

£133

-69.7%

£439

-

-

-

-

Pre Tax Profit

-£221,445

-119.3%

£1,146,715

26.3%

£907,627

-

-

-

-

Taxation

£10,081

104.9%

-£203,689

-83.4%

-£111,050

-

-

-

-

Profit After Tax

-£211,364

-122.4%

£943,026

18.4%

£796,577

-

-

-

-

Dividends Payable

£200,000

-

£200,000

17.6%

£170,000

-

-

-

-

Retained Profit

-£411,364

-155.4%

£743,026

18.6%

£626,577

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

31/01/14

(%)

31/01/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

Tangible Assets

£179,272

-25.7%

£241,352

-22.7%

£312,272

10.9%

£281,664

16.6%

£241,630

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£179,272

-25.7%

£241,352

-22.7%

£312,272

10.9%

£281,664

16.6%

£241,630

Stock

£466,471

-2.1%

£476,288

29.8%

£366,912

12.4%

£326,386

38.5%

£235,621

Trade Debtors

£1,413,240

42.3%

£992,808

30.2%

£762,815

-43.1%

£1,340,470

7.4%

£1,248,255

Cash

£2,823,252

-21.5%

£3,598,702

20%

£2,997,874

92.2%

£1,559,794

-43.6%

£2,765,899

Other Debtors

£220,691

0.9%

£218,693

-3.7%

£227,087

-

0

-

0

Miscellaneous Current Assets

£1,000,745

-

0

-

0

-

0

-

0

Total Current Assets

£5,924,399

12.1%

£5,286,491

21.4%

£4,354,688

35%

£3,226,650

-24.1%

£4,249,775

Trade Creditors

£1,030,203

7.2%

£961,241

-16.3%

£1,148,428

-15.6%

£1,361,490

-40.4%

£2,284,862

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

£171,119

-83.7%

£1,049,706

43.5%

£731,307

-

0

-

0

Total Current Liabilities

£1,201,322

-40.3%

£2,010,947

7%

£1,879,735

38.1%

£1,361,490

-40.4%

£2,284,862

Bank Loans & Overdrafts and LTL

£1,822,671

999.9%

£25,854

-34.1%

£39,209

54.5%

£25,385

39.5%

£18,196

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

£1,822,671

999.9%

£25,854

-34.1%

£39,209

54.5%

£25,385

39.5%

£18,196

 

 

Cash Flow

 

Date Of Accounts

31/01/14

(%)

31/01/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

Net Cashflow from Operations

£659,063

-23.3%

£859,529

-47%

£1,621,866

-

-

-

-

Net Cashflow before Financing

£277,334

-52.2%

£580,678

-58.2%

£1,388,984

-

-

-

-

Net Cashflow from Financing

-£1,052,784

-999.9%

£20,150

-59%

£49,096

-

-

-

-

Increase in Cash

-£775,450

-229.1%

£600,828

-58.2%

£1,438,080

-

-

-

-

 

 

Miscellaneous

 

Date Of Accounts

31/01/14

(%)

31/01/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£4,902,349

39.4%

£3,516,896

26.2%

£2,787,225

29.8%

£2,146,824

-2.7%

£2,206,543

Number of Employees

13

-

13

-

-

-

-

-

-

Auditors

GODFREY LAWS & CO LIMITED

Auditor Comments

The audit report contains no adverse comments

Bankers

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/01/14

31/01/13

31/01/12

31/01/11

31/01/10

Pre-tax profit margin %

-4.09

22.67

15.87

-

-

Current ratio

4.93

2.63

2.32

2.37

1.86

Sales/Net Working Capital

1.15

1.54

2.31

-

-

Gearing %

59.20

0.70

1.40

1.20

0.80

Equity in %

50.50

63.20

58.90

60.50

48.70

Creditor Days

69.25

69.16

73.11

-

-

Debtor Days

95

71.43

48.56

-

-

Liquidity/Acid Test

4.54

2.39

2.12

2.13

1.75

Return On Capital Employed %

-4.51

32.60

32.56

-

-

Return On Total Assets Employed %

-3.62

20.74

19.44

-

-

Current Debt Ratio

0.39

0.57

0.68

0.64

1.04

Total Debt Ratio

0.98

0.58

0.69

0.65

1.05

Stock Turnover Ratio %

8.61

9.41

6.41

-

-

Return on Net Assets Employed %

-7.19

32.84

33.02

-

-

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

15/05/2015

Mr E.J. Lamb has left the board

15/05/2015

Mrs S.P. Brown has resigned as company secretary

15/05/2015

Mrs S.P. Brown has left the board

15/05/2015

New Company Secretary Mr M.G. Silver appointed

15/05/2015

New Board Member Mr R. Bhala appointed

15/05/2015

New Board Member Mr M.G. Silver appointed

01/03/2015

Annual Returns

11/11/2014

New Accounts Filed

11/11/2014

New Accounts Filed

15/02/2014

Annual Returns

09/11/2013

New Accounts Filed

09/11/2013

New Accounts Filed

15/02/2013

Annual Returns

08/11/2012

New Accounts Filed

08/11/2012

New Accounts Filed

 

 

Previous Company Names

 

Date

Previous Name

28/07/1997

CARD-EL LIMITED

Writ Details

 

No writs found

 

 

Statistics

 

Group

4 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

SATSUMEL HOLDINGS LIMITED

Ownership Status

Intermediately Owned

Ultimate Holding Company

SATSUMEL HOLDINGS LIMITED

 

 

 

Group Structure

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

SATSUMEL HOLDINGS LIMITED

05606908

31.01.2014

Y

£7,274,116

CARDEL LIMITED

03153417

31.01.2014

N

£5,414,525

LATRAVE LTD

04184964

31.01.2014

N

£1,369,623

INSUNEL LIMITED

05561842

31.12.2013

N

£557,915

 

Mortgage Details

 

Mortgage Type:

Date Charge Created:

01/05/15

Date Charge Registered:

20/05/15

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

HSBC BANK PLC;

Amount Secured:

Details:

A FIXED AND FLOATING CHARGE OVER ALL ASSETS.CONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

 

Creditor Details

 

Total Number

Total Value

Trade Creditors

0

-

 

No Creditor Data


Trade Debtors / Bad Debt Detail

 

Total Number of Documented Trade

Total Value of Documented Trade

Trade Debtors

1

£34,131

 

Company Name

Amount

Statement Date

Ucam Llp

£34,131

05/07/2012

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

William Elliot Lamb

0

5

Susan Patricia Brown

18

2

Susan Patricia Brown

18

2

Elliot James Lamb

13

1

HALLMARK REGISTRARS LIMITED

740

31063

HALLMARK SECRETARIES LIMITED

760

31741

 

Average Invoice Value

Ł253

Invoices available

12

Paid

9

Outstanding

3

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

2

0

2

2

3

Outstanding

0

1

1

1

0

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.90

UK Pound

1

Rs.97.97

Euro

1

Rs.71.82

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

VNT

 

               

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.