MIRA INFORM REPORT

 

 

Report No. :

312027

Report Date :

14.03.2015

 

IDENTIFICATION DETAILS

 

Name :

HRS INTERNATIONAL LIMITED

 

 

Registered Office :

Hrs House 10-12 Caxton Waywatford Business Parkwatfordwd18 8JY

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

22.11.2002

 

 

Com. Reg. No.:

04599023

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Holding companies incl head offices

 

[Note: We tried to confirm / obtain the detailed activity but the same is not available from any sources]

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

United Kingdom

A2

A2

 

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 INVESTMENThttps://cdncache1-a.akamaihd.net/items/it/img/arrow-10x10.png 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 Summary

 

Registered Address

HRS HOUSE 10-12 CAXTON WAY
WATFORD BUSINESS PARK WATFORD WD18 8JY

Trading Address

Hrs House 10-12 Caxton Way Watford Business Park Watford, Hertfordshire WD18 8JY

Website Address

http://www.hrs.co.uk

 

 

Telephone Number

01293562828

Fax Number

--

TPS

No

FPS

No

Incorporation Date

22/11/2002

 

 

Previous Name

--

Type

Private limited with Share Capital

FTSE Index

-

Date of Change

-

Filing Date of Accounts

29/09/2014

Currency

GBP

Share Capital

£10,500

SIC07

70100

Charity Number

-

 

 

SIC07 Description

ACTIVITIES OF HEAD OFFICES

Principal Activity

Holding companies incl head offices.

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/12/2013

--

--

£1,363,497

--

31/12/2012

--

--

£1,493,878

--

31/12/2011

--

--

£1,435,537

--

 

 

Mortgage Summary

 

Total Mortgage             1

Outstanding                 1

Satisfied                       0

 

 

Trade Debtors / Bad Debt Summary

 

Total Number of Documented Trade                 0

Total Value of Documented Trade                    £0

 

 

Commentary

 

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

The latest Balance Sheet indicates a positive net working capital position.

The latest cash balances are considered to be low in terms of the overall outstanding creditor obligations.

There has been a reduction in shareholders funds compared with the previous balance sheet.

This company trades in an industry with a lower 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

1

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

4

 

 

Current Directors

 

Name

Steven Edward Pither

Date of Birth

26/07/1957

Officers Title

Mr

Nationality

British

Present Appointments

16

Function

Director

Appointment Date

22/11/2002

Address

Hrs House 10-12 Caxton Way, Watford Business Park, Watford, Hertfordshire, WD18 8JY

 

 

Current Company Secretary

 

Name

Robert Michael Twydle

Date of Birth

15/06/1956

Officers Title

Mr

Nationality

British

Present Appointments

20

Function

Company Secretary

Appointment Date

22/11/2002

Address

Hrs House 10-12 Caxton Way, Watford Business Park, Watford, Hertfordshire, WD18 8JY

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

HRS INVESTMENTS LTD

GBP

10,499

ORDINARY

1

99.99

STEVEN EDWARD PITHER

GBP

1

ORDINARY

1

0.01

 

 

Profit & Loss

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

-

-

-

-

-

-

£305,101

50.2%

£203,069

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-100%

£9,499

586.3%

£1,384

Gross Profit

-

-

-

-

-

-

£295,602

46.6%

£201,685

Wages & Salaries

-

-

-

-

-

-

£66,707

-15.6%

£79,074

Directors Emoluments

-

-

-

-

-

-

£51,707

-34.6%

£79,074

Operating Profit

-

-

-

-

-

-

£130,311

118.9%

£59,531

Depreciation

£3,710

-6.1%

£3,952

-15%

£4,650

-

-

-

-

Audit Fees

-

-

-

-

-

-

£2,000

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

£130,311

118.9%

£59,531

Taxation

-

-

-

-

-

-

-£80,402

-488.7%

-£13,657

Profit After Tax

-

-

-

-

-

-

£49,909

8.8%

£45,874

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

£49,909

8.8%

£45,874

 

 

Balance Sheet

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Tangible Assets

£1,308,055

-15.9%

£1,555,789

-28.3%

£2,169,679

1.5%

£2,137,691

-

£2,137,691

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£1,308,055

-15.9%

£1,555,789

-28.3%

£2,169,679

1.5%

£2,137,691

-

£2,137,691

Stock

£14,000

-

£14,000

-

£14,000

-

0

-

0

Trade Debtors

£975,805

52.5%

£639,987

-8.9%

£702,173

207.7%

£228,209

119.5%

£103,950

Cash

£331

-98%

£16,479

88.1%

£8,760

999.9%

£730

-97.1%

£25,568

Other Debtors

0

-

0

-

0

-100%

£353,559

40.9%

£250,845

Miscellaneous Current Assets

0

-

0

-

0

-

0

-100%

£642

Total Current Assets

£990,136

47.7%

£670,466

-7.5%

£724,933

24.5%

£582,498

52.9%

£381,005

Trade Creditors

£934,694

27.6%

£732,377

-49.8%

£1,459,075

999.9%

£14,615

-

0

Bank Loans & Overdrafts

0

-

0

-

0

-100%

£57,857

-68.8%

£185,577

Other Short Term Finance

0

-

0

-

0

-100%

£1,293,706

29.8%

£996,340

Miscellaneous Current Liabilities

0

-

0

-

0

-100%

£72,635

-31%

£105,312

Total Current Liabilities

£934,694

27.6%

£732,377

-49.8%

£1,459,075

1.4%

£1,438,813

11.8%

£1,287,229

Bank Loans & Overdrafts and LTL

0

-

0

-

0

-100%

£57,857

-68.8%

£185,577

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

.

 

Capital & Reserves

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Called Up Share Capital

£10,500

-

£10,500

-

£10,500

-

£10,500

-

£10,500

P & L Account Reserve

£352,997

24.6%

£283,378

25.9%

£225,037

217.5%

£70,876

238%

£20,967

Revaluation Reserve

£1,000,000

-16.7%

£1,200,000

-

£1,200,000

-

£1,200,000

-

£1,200,000

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£1,363,497

-8.7%

£1,493,878

4.1%

£1,435,537

12%

£1,281,376

4.1%

£1,231,467

 

 

Other Financial Items

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Net Worth

£1,363,497

-8.7%

£1,493,878

4.1%

£1,435,537

12%

£1,281,376

4.1%

£1,231,467

Working Capital

£55,442

189.6%

-£61,911

91.6%

-£734,142

14.3%

-£856,315

5.5%

-£906,224

Total Assets

£2,298,191

3.2%

£2,226,255

-23.1%

£2,894,612

6.4%

£2,720,189

8%

£2,518,696

Total Liabilities

£934,694

27.6%

£732,377

-49.8%

£1,459,075

1.4%

£1,438,813

11.8%

£1,287,229

Net Assets

£1,363,497

-8.7%

£1,493,878

4.1%

£1,435,537

12%

£1,281,376

4.1%

£1,231,467

 

 

Miscellaneous

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Contingent Liability

NO

-

NO

-

NO

-

YES

-

YES

Capital Employed

£1,363,497

-8.7%

£1,493,878

4.1%

£1,435,537

12%

£1,281,376

4.1%

£1,231,467

Number of Employees

-

-

-

-

-

-

1

-66.7%

3

 

Auditors

WILDER COE LLP

Auditor Comments

The audit report contains no adverse comments

Bankers

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/12/13

31/12/12

31/12/11

31/12/10

31/12/09

Pre-tax profit margin %

-

-

-

42.71

29.32

Current ratio

1.06

0.92

0.50

0.40

0.30

Sales/Net Working Capital

-

-

-

-0.36

-0.22

Gearing %

0

0

0

4.50

15.10

Equity in %

59.30

67.10

49.60

47.10

48.90

Creditor Days

-

-

-

17.43

-

Debtor Days

-

-

-

272.26

186.32

Liquidity/Acid Test

1.04

0.89

0.48

0.40

0.29

Return On Capital Employed %

-

-

-

10.16

4.83

Return On Total Assets Employed %

-

-

-

4.79

2.36

Current Debt Ratio

0.68

0.49

1.01

1.12

1.04

Total Debt Ratio

0.68

0.49

1.01

1.12

1.04

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

10.16

4.83

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

30/12/2014

Annual Returns

09/10/2014

New Accounts Filed

29/11/2013

Annual Returns

09/10/2013

New Accounts Filed

01/12/2012

Annual Returns

12/10/2012

New Accounts Filed

17/02/2012

New Accounts Filed

17/02/2012

New Accounts Filed

29/11/2011

Annual Returns

07/12/2010

Annual Returns

03/12/2010

Mr J.M. Pagan Duran has left the board

03/12/2010

Mr J. Linares Gil has left the board

08/10/2010

New Accounts Filed

08/10/2010

New Accounts Filed

04/01/2010

Annual Returns

 

 

Previous Company Names

 

No Previous Names found

 

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

6 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

HRS INVESTMENTS LIMITED

Ownership Status

Intermediately Owned

Ultimate Holding Company

HRS INVESTMENTS LIMITED

 

 

Group structure Full

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

tminus HRS INVESTMENTS LIMITED

03737053

31.12.2013

Y

£18,561,570

T HEATEXCHANGERSPARES.CO...

04000211

31.12.2013

N

T HRS HEAT EXCHANGERS LI...

03315082

31.12.2013

N

tminus HRS HEVAC LIMITED

03401820

31.12.2013

N

L HRS HEVAC ENG. LIMITED

07145693

31.12.2012

N

L HRS INTERNATIONAL LIMITED

04599023

31.12.2013

N

 

 

Mortgage Details

 

Mortgage Type:

DEBENTURE

Date Charge Created:

20/01/10

Date Charge Registered:

23/01/10

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

THE ROYAL BANK OF SCOTLAND PLC

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, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXEDPLANT & MACHINERY

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

Jesus Linares Gil

0

1

Jesus Miguel Pagan Duran

0

1

WATERLOW NOMINEES LIMITED

3006

104288

WATERLOW SECRETARIES LIMITED

3102

107211

Average Invoice Value

n/a

Invoices available

n/a

Paid

n/a

Outstanding

n/a

 

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

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.67

UK Pound

1

Rs.93.16

Euro

1

Rs.66.42

 

 

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%)

 

 

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.