|
Report No. : |
313670 |
|
Report Date : |
24.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
DANATROL
ENGINEERING LIMITED |
|
|
|
|
Formerly Known as : |
GLOVEMEAD LIMITED |
|
|
|
|
Registered Office : |
Unit 2 Industrial Estate,
Canal Bank, Loughborough, Le11 Ohf |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
30.04.2014 |
|
|
|
|
Date of Incorporation : |
21.04.1986 |
|
|
|
|
Com. Reg. No.: |
02012037 |
|
|
|
|
Legal Form : |
Private Limited With Share
Capital |
|
|
|
|
Line of Business : |
Engaged as Manufacturer of other Fabricated Metal
Products [NOTE: We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
|
|
|
|
No of Employees : |
Not Available [NOTE: We tried to confirm
the number of employees but no one is ready to part any information from the
company management.] |
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 – 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. 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: DANATROL ENGINEERING LIMITED
Company No: 02012037
Company Status: Active - Accounts Filed
Registered
Address
/ Trading Address UNIT
2 INDUSTRIAL ESTATE
CANAL BANK
LOUGHBOROUGH
LE11 OHF
Telephone Number 44 (0) 1509217516
Fax
Number -
TPS -
FPS No
Incorporation
Date 21/04/1986
Previous
Name GLOVEMEAD
LIMITED
Type Private
limited with Share Capital
Date of Change 20/06/1986
Filing Date of Accounts 29/10/2014
Currency GBP
Share Capital £100
Activity Description MANUFACTURE
OF OTHER FABRICATED METAL PRODUCTS N.E.C.
Year to Date Shareholder
Funds
30/04/2014 £126,569
30/04/2013 £88,098
30/04/2012 £57,811
Total Mortgage 1
Outstanding 1
|
This company has been treated as a Small company |
|
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. |
|
Name |
Sailesh Chauhan |
Date of Birth |
14/03/1964 |
|
Officers Title |
Mr |
Nationality |
|
|
Present Appointments |
4 |
Function |
Director |
|
Appointment Date |
24/02/1999 |
||
|
Address |
8 Cricket Lane, Loughborough, Leicestershire, LE11 3PD |
||
|
Name |
Sharmista Chauhan |
Date of Birth |
07/09/1965 |
|
Officers Title |
---- |
Nationality |
|
|
Present Appointments |
4 |
Function |
Director |
|
Appointment Date |
02/03/2009 |
||
|
Address |
8 Cricket Lane, Loughborough, Leicestershire, LE11 3PD |
||
|
Name |
Sharmista Chauhan |
Date of Birth |
07/09/1965 |
|
Officers Title |
---- |
Nationality |
|
|
Present Appointments |
4 |
Function |
Company Secretary |
|
Appointment Date |
02/03/2009 |
||
|
Address |
8 Cricket Lane, Loughborough, Leicestershire, LE11 3PD |
||
|
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
|
SAILESH CHAUHAN |
GBP |
50 |
ORDINARY |
1 |
50 |
|
SHARMISTA CHAUHAN |
GBP |
50 |
ORDINARY |
1 |
50 |
|
Date Of Accounts |
30/04/14 |
(%) |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Depreciation |
£23,601 |
-5.7% |
£25,033 |
-22.1% |
£32,128 |
-15% |
£37,798 |
55.1% |
£24,370 |
|
Date Of Accounts |
30/04/14 |
(%) |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
|
Tangible Assets |
£133,424 |
-15% |
£157,025 |
-13.8% |
£182,058 |
-15% |
£214,186 |
-15% |
£251,984 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed Assets |
£133,424 |
-15% |
£157,025 |
-13.8% |
£182,058 |
-15% |
£214,186 |
-15% |
£251,984 |
|
Stock |
£70,750 |
-5.9% |
£75,185 |
17.7% |
£63,874 |
110% |
£30,419 |
-6.1% |
£32,408 |
|
Trade Debtors |
£145,582 |
34% |
£108,679 |
132.3% |
£46,776 |
-68.7% |
£149,218 |
32.9% |
£112,240 |
|
Cash |
£6,465 |
- |
0 |
-100% |
£340 |
- |
£340 |
- |
£340 |
|
Miscellaneous Current Assets |
£82,432 |
- |
£82,432 |
- |
£82,432 |
- |
£82,432 |
13.4% |
£72,682 |
|
Total Current Assets |
£305,229 |
14.6% |
£266,296 |
37.7% |
£193,422 |
-26.3% |
£262,409 |
20.6% |
£217,670 |
|
Trade Creditors |
£276,549 |
0.5% |
£275,198 |
-2.4% |
£282,100 |
-12.5% |
£322,443 |
29.8% |
£248,343 |
|
Total Current Liabilities |
£276,549 |
0.5% |
£275,198 |
-2.4% |
£282,100 |
-12.5% |
£322,443 |
29.8% |
£248,343 |
|
Bank Loans & Overdrafts and LTL |
£35,535 |
-40.8% |
£60,025 |
68.8% |
£35,569 |
-64.4% |
£99,951 |
-40.7% |
£168,555 |
|
Total Long Term Liabilities |
£35,535 |
-40.8% |
£60,025 |
68.8% |
£35,569 |
-64.4% |
£99,951 |
-40.7% |
£168,555 |
|
Date Of Accounts |
30/04/14 |
(%) |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
|
Called Up Share Capital |
£100 |
- |
£100 |
- |
£100 |
- |
£100 |
- |
£100 |
|
P & L Account Reserve |
£126,469 |
43.7% |
£87,998 |
52.5% |
£57,711 |
6.7% |
£54,101 |
2.7% |
£52,656 |
|
Shareholder Funds |
£126,569 |
43.7% |
£88,098 |
52.4% |
£57,811 |
6.7% |
£54,201 |
2.7% |
£52,756 |
|
Date Of Accounts |
30/04/14 |
(%) |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
|
Net Worth |
£126,569 |
43.7% |
£88,098 |
52.4% |
£57,811 |
6.7% |
£54,201 |
2.7% |
£52,756 |
|
Working Capital |
£28,680 |
422.2% |
-£8,902 |
90% |
-£88,678 |
-47.7% |
-£60,034 |
-95.7% |
-£30,673 |
|
Total Assets |
£438,653 |
3.6% |
£423,321 |
12.7% |
£375,480 |
-21.2% |
£476,595 |
1.5% |
£469,654 |
|
Total Liabilities |
£312,084 |
-6.9% |
£335,223 |
5.5% |
£317,669 |
-24.8% |
£422,394 |
1.3% |
£416,898 |
|
Net Assets |
£126,569 |
43.7% |
£88,098 |
52.4% |
£57,811 |
6.7% |
£54,201 |
2.7% |
£52,756 |
|
Date Of Accounts |
30/04/14 |
(%) |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£162,104 |
9.4% |
£148,123 |
58.6% |
£93,380 |
-39.4% |
£154,152 |
-30.3% |
£221,311 |
|
Auditors |
|
|
Auditor Comments |
The company is exempt from audit |
|
Date Of Accounts |
30/04/14 |
30/04/13 |
30/04/12 |
30/04/11 |
30/04/10 |
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
Current ratio |
1.10 |
0.97 |
0.69 |
0.81 |
0.88 |
|
Gearing % |
28.10 |
68.10 |
61.50 |
184.40 |
319.50 |
|
Equity in % |
28.90 |
20.80 |
15.40 |
11.40 |
11.20 |
|
Liquidity/Acid Test |
0.84 |
0.69 |
0.45 |
0.71 |
0.74 |
|
Current Debt Ratio |
2.18 |
3.12 |
4.87 |
5.94 |
4.70 |
|
Total Debt Ratio |
2.46 |
3.80 |
5.49 |
7.79 |
7.90 |
|
Date |
Description |
|
20/01/2015 |
Annual Returns |
|
01/11/2014 |
New Accounts Filed |
|
05/02/2014 |
New Accounts Filed |
|
27/01/2014 |
Annual Returns |
|
18/01/2013 |
Annual Returns |
|
04/12/2012 |
New Accounts Filed |
|
04/02/2012 |
New Accounts Filed |
|
26/12/2011 |
Annual Returns |
|
27/01/2011 |
New Accounts Filed |
|
20/01/2011 |
Annual Returns |
|
01/02/2010 |
New Accounts Filed |
|
05/01/2010 |
Annual Returns |
|
16/12/2009 |
Change in Reg.Office |
|
07/05/2009 |
New Company Secretary S. Chauhan appointed |
|
19/03/2009 |
Mr D.J. Knight has resigned as company secretary |
|
Date |
Previous Name |
|
20/06/1986 |
GLOVEMEAD LIMITED |
No group structure
|
Mortgage Type: |
DEBENTURE |
||
|
Date Charge Created: |
01/12/09 |
||
|
Date Charge Registered: |
04/12/09 |
||
|
Status: |
OUTSTANDING |
||
|
Person(s) Entitled: |
NATIONAL WESTMINSTER 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 CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, UNCALLED CAPITAL, BUILDINGS,
FIXTURES, FIXEDPLANT & MACHINERY |
||
|
Name |
Current Directorships |
Previous Directorships |
|
David John Knight |
0 |
4 |
|
David John Knight |
0 |
4 |
|
David Roy Adcock |
1 |
3 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.29 |
|
UK Pound |
1 |
Rs.93.02 |
|
Euro |
1 |
Rs.67.36 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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.