MIRA INFORM REPORT
|
Report No. : |
311554 |
|
Report Date : |
12.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
HI TECH ACCESS COVERS LIMITED |
|
|
|
|
Registered Office : |
DUNCOTE MILL WALCOT TELFORD SHROPSHIRE TF6 5ER |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
30.09.2014 |
|
|
|
|
Date of Incorporation : |
27.11.1995 |
|
|
|
|
Com. Reg. No.: |
03130910 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Manufacture of Other Fabricated Metal Products N.E.C |
|
|
|
|
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 – 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
name & address
Company Name: HI TECH
ACCESS COVERS LIMITED
Company No: 03130910
Company Status: Active -
Accounts Filed
Registered Address: DUNCOTE MILL WALCOT TELFORD SHROPSHIRE TF6 5ER
Company
Summary
Registered Address
C/O PAUL SHAW
DUNCOTE MILL WALCOT
TELFORD
SHROPSHIRE
TF6 5ER
Trading Address
Duncote Mill
Walcot
Telford
Shropshire
TF6 5ER
Website Address http://www.hitech-covers.com
Telephone Number 01952740222
TPS Yes
FPS No
Incorporation Date 27/11/1995
Previous Name WREKIN FABRICATIONS
LIMITED
Type Private
limited with Share Capital
FTSE Index -
Date of Change 05/08/2011
Filing Date of Accounts 16/01/2015
Currency GBP
Share Capital £24,336
SIC07 25990
Charity Number -
SIC07 Description MANUFACTURE
OF OTHER FABRICATED METAL PRODUCTS N.E.C.
Mortgage
Summary
Total Mortgage 2
Outstanding 2
Satisfied 0
Trade
Debtors / Bad Debt Summary
Total Number of Documented Trade 1
Total Value of Documented Trade £18,672
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 medium percentage of
invoices. |
|
|
The latest Balance Sheet indicates a positive net working capital
position. |
|
|
There has been an increase in shareholders funds compared with the
previous balance sheet. |
|
|
This company trades in an industry with a higher 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 - |
- |
Enquiries
Trend
|
There have been 46 enquiries in the last 12 months. |
|
There are an average of 4 reports taken each month. |
|
3 MONTHS |
6 MONTHS |
9 MONTHS |
|
|
Enquiries |
12 |
30 |
44 |
|
Total Current Directors |
2 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
7 |
Current
Directors
|
Name |
Stephen Donald Reynolds |
Date of Birth |
11/07/1954 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
27/11/1995 |
||
|
Address |
7 Goldcrest Grove, Apley, Telford, Salop, TF1 6TA |
||
|
Name |
Paul Shaw |
Date of Birth |
06/10/1962 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
02/04/2009 |
||
|
Address |
62 Sandown Road, Toton, Nottingham, Nottinghamshire, NG9 6JW |
||
|
Name |
Paul Shaw |
Date of Birth |
- |
|
Officers Title |
Mr |
Nationality |
|
|
Present Appointments |
1 |
Function |
Company Secretary |
|
Appointment Date |
03/10/2011 |
||
|
Address |
Duncote Mill Walcot, Telford, Shropshire, TF6 5ER |
||
Top 20 Shareholders
|
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
|
HILAN ENGINEERING LTD |
GBP |
14,542 |
ORDINARY |
1 |
59.76 |
|
PAUL SHAW |
GBP |
7,271 |
ORDINARY |
1 |
29.88 |
|
MR S.D. REYNOLDS |
GBP |
2,423 |
ORDINARY |
1 |
9.96 |
|
HILAN ENGINEERING LTD |
GBP |
100 |
ORDINARY B |
1 |
0.41 |
Financials
Profit & Loss
|
Date Of Accounts |
30/09/14 |
(%) |
30/09/13 |
(%) |
30/09/12 |
(%) |
30/09/11 |
(%) |
30/09/10 |
|
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 |
£13,986 |
34% |
£10,436 |
4.7% |
£9,972 |
1% |
£9,876 |
-3.3% |
£10,215 |
|
Audit Fees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Interest Payments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Pre Tax Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Profit After Tax |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Balance Sheet
|
Date Of Accounts |
30/09/14 |
(%) |
30/09/13 |
(%) |
30/09/12 |
(%) |
30/09/11 |
(%) |
30/09/10 |
|
Tangible Assets |
£85,509 |
139.6% |
£35,692 |
-14% |
£41,514 |
5.5% |
£39,358 |
-31.3% |
£57,311 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed Assets |
£85,509 |
139.6% |
£35,692 |
-14% |
£41,514 |
5.5% |
£39,358 |
-31.3% |
£57,311 |
|
Stock |
£381,712 |
47.7% |
£258,424 |
104.3% |
£126,523 |
-1.6% |
£128,565 |
53.8% |
£83,616 |
|
Trade Debtors |
£506,828 |
14.1% |
£444,256 |
4.8% |
£423,944 |
44.3% |
£293,776 |
40.9% |
£208,549 |
|
Cash |
£27,996 |
285% |
£7,272 |
-89.7% |
£70,459 |
- |
0 |
- |
0 |
|
Other Debtors |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£916,536 |
29.1% |
£709,952 |
14.3% |
£620,926 |
47% |
£422,341 |
44.6% |
£292,165 |
|
Trade Creditors |
£771,785 |
17.5% |
£656,863 |
26.9% |
£517,556 |
68.5% |
£307,164 |
-4.2% |
£320,470 |
|
Bank Loans & Overdrafts |
0 |
- |
0 |
- |
0 |
-100% |
£18,462 |
37.6% |
£13,419 |
|
Other Short Term Finance |
0 |
- |
0 |
- |
0 |
-100% |
£633 |
-83.3% |
£3,800 |
|
Miscellaneous Current Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Liabilities |
£771,785 |
17.5% |
£656,863 |
26.9% |
£517,556 |
58.6% |
£326,259 |
-3.4% |
£337,689 |
|
Bank Loans & Overdrafts and LTL |
£133,747 |
16.3% |
£115,000 |
- |
£115,000 |
-13.8% |
£133,462 |
849.8% |
£14,052 |
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
-100% |
£633 |
|
Total Long Term Liabilities |
£133,747 |
16.3% |
£115,000 |
- |
£115,000 |
- |
£115,000 |
999.9% |
£633 |
.
Capital &
Reserves
|
Date Of Accounts |
30/09/14 |
(%) |
30/09/13 |
(%) |
30/09/12 |
(%) |
30/09/11 |
(%) |
30/09/10 |
|
Called Up Share Capital |
£24,336 |
- |
£24,336 |
- |
£24,336 |
- |
£24,336 |
- |
£24,336 |
|
P & L Account Reserve |
£72,177 |
242.8% |
-£50,555 |
-999.9% |
£5,548 |
242.4% |
-£3,896 |
70.4% |
-£13,182 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£96,513 |
468.1% |
-£26,219 |
-187.7% |
£29,884 |
46.2% |
£20,440 |
83.3% |
£11,154 |
Other Financial
Items
|
Date Of Accounts |
30/09/14 |
(%) |
30/09/13 |
(%) |
30/09/12 |
(%) |
30/09/11 |
(%) |
30/09/10 |
|
Net Worth |
£96,513 |
468.1% |
-£26,219 |
-187.7% |
£29,884 |
46.2% |
£20,440 |
83.3% |
£11,154 |
|
Working Capital |
£144,751 |
172.7% |
£53,089 |
-48.6% |
£103,370 |
7.6% |
£96,082 |
311.1% |
-£45,524 |
|
Total Assets |
£1,002,045 |
34.4% |
£745,644 |
12.6% |
£662,440 |
43.5% |
£461,699 |
32.1% |
£349,476 |
|
Total Liabilities |
£905,532 |
17.3% |
£771,863 |
22% |
£632,556 |
43.4% |
£441,259 |
30.4% |
£338,322 |
|
Net Assets |
£96,513 |
468.1% |
-£26,219 |
-187.7% |
£29,884 |
46.2% |
£20,440 |
83.3% |
£11,154 |
Cash Flow
|
Date Of Accounts |
30/09/14 |
(%) |
30/09/13 |
(%) |
30/09/12 |
(%) |
30/09/11 |
(%) |
30/09/10 |
|
Net Cashflow from Operations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow before Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow from Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Increase in Cash |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Miscellaneous
|
Date Of Accounts |
30/09/14 |
(%) |
30/09/13 |
(%) |
30/09/12 |
(%) |
30/09/11 |
(%) |
30/09/10 |
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£230,260 |
159.4% |
£88,781 |
-38.7% |
£144,884 |
7% |
£135,440 |
999.9% |
£11,787 |
|
Number of Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Auditors |
|||||||||
|
Auditor Comments |
The company is exempt from audit |
||||||||
|
Bankers |
LLOYDS TSB BANK PLC |
||||||||
|
Bank Branch Code |
|||||||||
Ratios
|
Date Of Accounts |
30/09/14 |
30/09/13 |
30/09/12 |
30/09/11 |
30/09/10 |
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
Current ratio |
1.19 |
1.08 |
1.20 |
1.29 |
0.87 |
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
138.60 |
-438.60 |
384.80 |
652.90 |
126 |
|
Equity in % |
9.60 |
-3.50 |
4.50 |
4.40 |
3.20 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid Test |
0.69 |
0.68 |
0.95 |
0.90 |
0.61 |
|
Return On Capital Employed % |
- |
- |
- |
- |
- |
|
Return On Total Assets Employed % |
- |
- |
- |
- |
- |
|
Current Debt Ratio |
7.99 |
-25.05 |
17.31 |
15.96 |
30.27 |
|
Total Debt Ratio |
9.38 |
-29.43 |
21.16 |
21.58 |
30.33 |
|
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 |
|
20/01/2015 |
New Accounts Filed |
|
09/12/2014 |
Annual Returns |
|
01/07/2014 |
New Accounts Filed |
|
23/12/2013 |
Annual Returns |
|
08/08/2013 |
New Accounts Filed |
|
08/08/2013 |
New Accounts Filed |
|
05/12/2012 |
Annual Returns |
|
11/04/2012 |
New Accounts Filed |
|
16/12/2011 |
Annual Returns |
|
06/10/2011 |
Change in Reg.Office |
|
06/10/2011 |
Change of Company Postcode |
|
06/10/2011 |
Mr S. Turner has left the board |
|
06/10/2011 |
Ms L. Walker has resigned as company secretary |
|
06/10/2011 |
Ms L. Walker has left the board |
|
06/10/2011 |
New Company Secretary Mr P. Shaw appointed |
Previous
Company Names
|
Date |
Previous Name |
|
05/08/2011 |
WREKIN FABRICATIONS LIMITED |
Writ
Details
|
No writs found |
Statistics
|
Group |
2 companies |
|
Linkages |
0 companies |
|
Countries |
In 0 countries |
Summary
|
Holding Company |
HILAN ENGINEERING LIMITED |
|
Ownership Status |
Intermediately Owned |
|
Ultimate Holding Company |
HILAN ENGINEERING LIMITED |
Group
structure Full
|
Company Name |
Safe Number |
Registered Number |
Latest Key Financials |
Consol. Accounts |
Rating |
Limit |
Turnover |
|
|
|
|
UK06253070 |
06610244 |
30.06.2013 |
N |
49 |
£500 |
|
|
|
|
UK02790046 |
03130910 |
30.09.2014 |
N |
36 |
£5,000 |
Mortgage
Details
|
Mortgage Type: |
ALL ASSETS DEBENTURE |
||
|
Date Charge Created: |
05/12/11 |
||
|
Date Charge Registered: |
09/12/11 |
||
|
Date Charge Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s) Entitled: |
LLOYDS TSB COMMERCIAL FINANCE LIMITED |
||
|
Amount Secured: |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY
ACCOUNT WHATSOEVER |
||
|
Details: |
FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL,
BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY |
||
|
Mortgage Type: |
SINGLE DEBENTURE |
||
|
Date Charge Created: |
27/12/95 |
||
|
Date Charge Registered: |
03/01/96 |
||
|
Date Charge Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s) Entitled: |
LLOYDS BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY
ACCOUNT WHATSOEVER |
||
|
Details: |
FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL
BUILDINGS FIXTURESFIXED PLANT AND MACHINERY |
||
Trade
Debtors / Bad Debt Detail
|
Total Number of Documented Trade |
Total Value of Documented Trade |
|||
|
Trade Debtors |
1 |
£18,672 |
||
|
Company Name |
Amount |
Statement Date |
||
|
Civils Drainage Supplies Ltd |
£18,672 |
19/12/2012 |
||
Previous
Director/Company Secretaries
|
Name |
Current Directorships |
Previous Directorships |
|
|
Stephen Donald Reynolds |
2 |
5 |
|
|
Kathleen Ann Reynolds |
0 |
1 |
|
|
Lesley Walker |
6 |
10 |
|
|
Lesley Walker |
6 |
10 |
|
|
Stanley Turner |
8 |
10 |
|
|
WATERLOW NOMINEES LIMITED |
3006 |
104288 |
|
|
WATERLOW SECRETARIES LIMITED |
3102 |
107211 |
|
|
Average Invoice Value |
£1825.62 |
||
|
Invoices available |
34 |
||
|
Paid |
33 |
||
|
Outstanding |
1 |
||
|
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 |
14 |
10 |
5 |
2 |
2 |
|
Outstanding |
0 |
0 |
1 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.75 |
|
UK Pound |
1 |
Rs.94.60 |
|
Euro |
1 |
Rs.67.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SDA |
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.