MIRA INFORM REPORT
|
Report No. : |
328771 |
|
Report Date : |
26.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
LITRON LASERS LIMITED |
|
|
|
|
Formerly Known As : |
LITRON OPTICAL LIMITED |
|
|
|
|
Registered Office : |
8 Consul Roadrugbywarwickshirecv21 1PB |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
13.10.2003 |
|
|
|
|
Com. Reg. No.: |
03395353 |
|
|
|
|
Legal Form : |
Private limited with Share
Capital |
|
|
|
|
Line of Business : |
|
|
|
|
|
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 |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 and address
LITRON LASERS LIMITED
Company No:
03395353
Registered Address:
8 CONSUL ROADRUGBYWARWICKSHIRECV21 1PB
Company Summary
|
Registered
Address |
8
CONSUL ROAD RUGBY WARWICKSHIRE CV21 1PB |
Trading
Address |
8
Consul Road Rugby Warwickshire CV21 1PB |
|
Website
Address |
http://www.litron.co.uk |
|
|
|
Telephone
Number |
01788574444 |
Fax Number |
-- |
|
TPS |
No |
FPS |
No |
|
Incorporation
Date |
01/07/1997 |
|
|
|
Previous
Name |
LITRON
OPTICAL LIMITED |
Type |
Private
limited with Share Capital |
|
FTSE Index |
|
Date of
Change |
13/10/2003 |
|
Filing Date
of Accounts |
24/12/2014 |
Currency |
GBP |
|
Share
Capital |
£200 |
SIC07 |
26701 |
|
Charity
Number |
-- |
|
|
|
SIC07
Description |
MANUFACTURE
OF OPTICAL PRECISION INSTRUMENTS |
||
|
Principal Activity |
Manufacture
instruments for measuring etc. |
||
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder |
Funds Employees |
|
31/03/2014 |
-- |
-- |
£2,866,354 |
-- |
|
31/03/2013 |
-- |
-- |
£2,197,606 |
-- |
|
31/03/2012 |
-- |
-- |
£2,418,290 |
-- |
Commentary
|
This company has been treated
as a Small company in respect of the rating/limit generated. |
|
|
This company has only made late
payments on a low 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. |
|
|
There has been an increase in
shareholders funds compared with the previous balance sheet. |
|
|
This company trades in an
industry with a moderate level of corporate failures. |
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 |
4 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company
Secretaries |
4 |
Current Directors
|
Name |
Julian Richard Sarkies |
Date of Birth |
07/12/1971 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
5 |
Function |
Director |
|
Appointment Date |
04/07/1997 |
||
|
Address |
8 Consul Road, Rugby,
Warwickshire, CV21 1PB |
||
|
Name |
Elizabeth Ann Sarkies |
Date of Birth |
23/01/1974 |
|
Officers Title |
Mrs |
Nationality |
British |
|
Present Appointments |
8 |
Function |
Director |
|
Appointment Date |
18/05/1998 |
||
|
Address |
8 Consul Road, Rugby,
Warwickshire, CV21 1PB |
||
|
Name |
Jonathan Michael Sarkies |
Date of Birth |
08/04/1974 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
18/04/2002 |
||
|
Address |
8 Consul Road, Rugby,
Warwickshire, CV21 1PB |
||
|
Name |
Adrian David Sarkies |
Date of Birth |
31/10/1978 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
03/07/2007 |
||
|
Address |
8 Consul Road, Rugby,
Warwickshire, CV21 1PB |
||
Current Company Secretary
|
Name |
Elizabeth Ann Sarkies |
Date of Birth |
23/01/1974 |
|
Officers Title |
Mrs |
Nationality |
British |
|
Present Appointments |
8 |
Function |
Company Secretary |
|
Appointment Date |
04/07/1997 |
||
|
Address |
8 Consul Road, Rugby,
Warwickshire, CV21 1PB |
||
Top 20 Shareholders
|
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
|
JULIAN RICHARD SARKIES & ELIZABETH
ANN SARKIES |
GBP |
100 |
ORDINARY |
1 |
50 |
|
JONATHAN MICHAEL SARKIES |
GBP |
76 |
ORDINARY |
1 |
38 |
|
ADRIAN DAVID SARKIES |
GBP |
20 |
ORDINARY |
1 |
10 |
|
MAUREEN MARY SARKIES |
GBP |
4 |
ORDINARY |
1 |
2 |
Profit & Loss
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Gross Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Wages & Salaries |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Directors Emoluments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Depreciation |
£15,525 |
-24.7% |
£20,626 |
-7% |
£22,180 |
-20.3% |
£27,818 |
-10.8% |
£31,180 |
|
Audit Fees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Interest Payments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Pre Tax Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Profit After Tax |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Balance Sheet
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Tangible Assets |
£127,400 |
-10.8% |
£142,769 |
-3.2% |
£147,429 |
-10.3% |
£164,346 |
-5.8% |
£174,425 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed Assets |
£127,400 |
-10.8% |
£142,769 |
-3.2% |
£147,429 |
-10.3% |
£164,346 |
-5.8% |
£174,425 |
|
Stock |
£1,320,224 |
16.5% |
£1,132,772 |
-10.7% |
£1,267,893 |
38.3% |
£916,970 |
22.6% |
£747,988 |
|
Trade Debtors |
£1,308,073 |
105.9% |
£635,293 |
-35.7% |
£987,620 |
-5.7% |
£1,047,211 |
46.4% |
£715,503 |
|
Cash |
£998,839 |
6.4% |
£938,745 |
27.8% |
£734,441 |
-13.7% |
£851,423 |
12.1% |
£759,223 |
|
Other Debtors |
0 |
-100% |
£200 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£3,627,136 |
34% |
£2,707,010 |
-9.5% |
£2,989,954 |
6.2% |
£2,815,604 |
26.7% |
£2,222,714 |
|
Trade Creditors |
£580,455 |
70.4% |
£340,544 |
-31% |
£493,634 |
-35.1% |
£760,139 |
-24.9% |
£1,012,136 |
|
Bank Loans & Overdrafts |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
-100% |
£320,000 |
|
Miscellaneous Current
Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Liabilities |
£580,455 |
70.4% |
£340,544 |
-31% |
£493,634 |
-35.1% |
£760,139 |
-42.9% |
£1,332,136 |
|
Bank Loans & Overdrafts and
LTL |
£307,727 |
-1.3% |
£311,629 |
38.2% |
£225,459 |
-3.3% |
£233,141 |
20.2% |
£193,927 |
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long Term Liabilities |
£307,727 |
-1.3% |
£311,629 |
38.2% |
£225,459 |
-3.3% |
£233,141 |
20.2% |
£193,927 |
Capital & Reserves
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Called Up Share Capital |
£200 |
- |
£200 |
- |
£200 |
- |
£200 |
- |
£200 |
|
P & L Account Reserve |
£2,866,154 |
30.4% |
£2,197,406 |
-9.1% |
£2,418,090 |
21.7% |
£1,986,470 |
128.1% |
£870,876 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£2,866,354 |
30.4% |
£2,197,606 |
-9.1% |
£2,418,290 |
21.7% |
£1,986,670 |
128.1% |
£871,076 |
Other Financial Items
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Net Worth |
£2,866,354 |
30.4% |
£2,197,606 |
-9.1% |
£2,418,290 |
21.7% |
£1,986,670 |
128.1% |
£871,076 |
|
Working Capital |
£3,046,681 |
28.7% |
£2,366,466 |
-5.2% |
£2,496,320 |
21.4% |
£2,055,465 |
130.8% |
£890,578 |
|
Total Assets |
£3,754,536 |
31.7% |
£2,849,779 |
-9.2% |
£3,137,383 |
5.3% |
£2,979,950 |
24.3% |
£2,397,139 |
|
Total Liabilities |
£888,182 |
36.2% |
£652,173 |
-9.3% |
£719,093 |
-27.6% |
£993,280 |
-34.9% |
£1,526,063 |
|
Net Assets |
£2,866,354 |
30.4% |
£2,197,606 |
-9.1% |
£2,418,290 |
21.7% |
£1,986,670 |
128.1% |
£871,076 |
Cash Flow
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Net Cashflow from Operations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow before Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow from Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Increase in Cash |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Miscellaneous
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£3,174,081 |
26.5% |
£2,509,235 |
-5.1% |
£2,643,749 |
19.1% |
£2,219,811 |
108.4% |
£1,065,003 |
|
Number of Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Auditors |
MAGMA AUDIT LLP |
|
Auditor Comments |
The audit report contains no
adverse comments |
|
Bankers |
|
|
Bank Branch Code |
Ratios
|
Date Of Accounts |
31/03/14 |
31/03/13 |
31/03/12 |
31/03/11 |
31/03/10 |
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
Current ratio |
6.25 |
7.95 |
6.06 |
3.70 |
1.67 |
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
10.70 |
14.20 |
9.30 |
11.70 |
22.30 |
|
Equity in % |
76.30 |
77.10 |
77.10 |
66.70 |
36.30 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid Test |
3.97 |
4.62 |
3.48 |
2.49 |
1.10 |
|
Return On Capital Employed % |
- |
- |
- |
- |
- |
|
Return On Total Assets Employed
% |
- |
- |
- |
- |
- |
|
Current Debt Ratio |
0.20 |
0.15 |
0.20 |
0.38 |
1.52 |
|
Total Debt Ratio |
0.30 |
0.29 |
0.29 |
0.49 |
1.75 |
|
Stock Turnover Ratio % |
- |
- |
- |
- |
- |
|
Return on Net Assets Employed % |
- |
- |
- |
- |
- |
Report Notes
|
There are no notes to display. |
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
15/01/2015 |
New Accounts Filed |
|
21/07/2014 |
Annual Returns |
|
27/12/2013 |
New Accounts Filed |
|
16/08/2013 |
Annual Returns |
|
11/01/2013 |
New Accounts Filed |
|
23/07/2012 |
Annual Returns |
|
04/01/2012 |
New Accounts Filed |
|
04/01/2012 |
New Accounts Filed |
|
13/07/2011 |
Annual Returns |
|
11/01/2011 |
New Accounts Filed |
|
31/07/2010 |
Annual Returns |
|
30/12/2009 |
New Accounts Filed |
|
08/07/2009 |
Annual Returns |
|
05/12/2008 |
New Accounts Filed |
|
01/08/2008 |
Annual Returns |
Previous Company Names
|
Date |
Previous Name |
|
13/10/2003 |
LITRON OPTICAL LIMITED |
Writ Details
|
No writs found |
Statistics
|
Group |
3 companies |
|
Linkages |
0 companies |
|
Countries |
In 0 countries |
Summary
|
Holding Company |
LITRON LASERS LIMITED |
|
Ownership Status |
Ultimately Owned |
|
Ultimate Holding Company |
LITRON LASERS LIMITED |
Group StructureFull
|
Company Name |
Registered Number |
Latest Key Financials |
Consol. Accounts |
Turnover |
|
|
03395353 |
31.03.2014 |
N |
|
|
|
03395352 |
31.03.2014 |
N |
|
|
|
03443926 |
31.03.2014 |
N |
Previous Director/Company Secretaries
|
Name |
Current Directorships |
Previous Directorships |
|
Stephen William Roberts |
0 |
1 |
|
COMBINED SECRETARIAL SERVICES
LIMITED |
2313 |
56636 |
|
COMBINED SECRETARIAL SERVICES
LIMITED |
2313 |
56636 |
|
COMBINED NOMINEES LIMITED |
1020 |
28334 |
|
Average Invoice Value |
Ł309.58 |
|
|
Invoices available |
151 |
|
|
Paid |
151 |
|
|
Outstanding |
0 |
|
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 |
69 |
51 |
20 |
8 |
3 |
|
Outstanding |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
|
|
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.71.17 |
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.