MIRA INFORM REPORT

 

 

Report No. :

314383

Report Date :

26.03.2015

 

IDENTIFICATION DETAILS

 

Name :

ROSSMAR TEXTILES LIMITED

 

 

Formerly Known As :

KITSECTOR LIMITED

 

 

Registered Office :

Strang Street Works, Strang Street, Forfar, Dd8 2hr

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.09.2014

 

 

Date of Incorporation :

26.06.1990

 

 

Com. Reg. No.:

SC125791

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Preparation and Spinning of Textile Fibres

 

 

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

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

UNITED KINGDOME - 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

 

ROSSMAR TEXTILES LIMITED

                          

Limited Company

 

 

Company Number

 

SC125791

 

 

Company Summary

 

Registered Address

 

STRANG STREET WORKS
STRANG STREET
FORFAR
DD8 2HR

 

Trading Address

 

Strang Street Works
Strang Street
Forfar
Angus
DD8 2HR

 

Website Address                      -                       Telephone Number                   01307461155

Fax Number                                                     TPS                                          Yes

FPS                                          No                    Incorporation Date                   26/06/1990

 

 

Previous Name                         KITSECTOR LIMITED

 

Type

Private limited with Share Capital

 

FTSE Index                              -                       Date of Change                         03/09/1990

Filing Date of Accounts            10/03/2015        Currency                                  GBP

Share Capital                           £25,000             SIC07                                       13100

Charity Number                        -                      

 

SIC07 Description

PREPARATION AND SPINNING OF TEXTILE FIBRES

 

Principal Activity

Preparation and spin of other textile.

 

 

Key Financials

 

Year to Date                 Turnover          Pre Tax Profit               Shareholder                 Funds Employees

30/09/2014                    -                       -                                   £21,112                         -

30/09/2013                    -                       -                                   -£13,063                        -

30/09/2012                    -                       -                                   -£65,078                        -

 

 

Mortgage Summary

 

Total Mortgage                         2

Outstanding                             1

Satisfied                                   1

 

 

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.

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

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

The latest cash balances represent a positive level in terms of the overall outstanding creditor obligations.

The high debt/equity ratio indicates that assets are funded primarily by creditors rather than equity/reinvested profits.

There has been an increase in shareholders funds compared with the previous balance sheet.

 

 

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 -

-

Back to TopDescription: \\vivek\Foreign Report Raw2\ROSSMAR TEXTILES LIMITED_files\Up.jpg

Show more

 

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

10

 

 

Current Directors

 

Name

Andrew Crockett Martin

Date of Birth

05/08/1957

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

18/06/2009

Address

8 Hawick Drive, Dundee, Angus, DD4 0TA

Disqualified

Disqualified End Date

Disqualification Exception

No

 

Name

Anne Alexandra Thomson

Date of Birth

24/10/1953

Officers Title

Mrs

Nationality

British

Present Appointments

9

Function

Director

Appointment Date

08/01/2015

Address

Stannergate House 41 Dundee Road West, Broughty Ferry, Dundee, DD5 1NB

Disqualified

Disqualified End Date

Disqualification Exception

No

 

 

Current Company Secretary

 

Name

Derek William Bates

Date of Birth

06/02/1947

Officers Title

Mr

Nationality

British

Present Appointments

6

Function

Company Secretary

Appointment Date

05/06/2008

Address

28 Rose Walk, West Wickham, Kent, BR4 0SD

Other Actions

View Consumer Report

View Trace Report

Disqualified

Disqualified End Date

Disqualification Exception

No

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

PROTIA LTD

GBP

25,000

ORDINARY

1

100

 

 

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

£26

-23.5%

£34

-26.1%

£46

-23.3%

£60

-25.9%

£81

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

£76

-25.5%

£102

-25%

£136

-25.3%

£182

-24.8%

£242

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£76

-25.5%

£102

-25%

£136

-25.3%

£182

-24.8%

£242

Stock

£141,995

-31.6%

£207,732

68.1%

£123,574

-3.6%

£128,222

128.7%

£56,068

Trade Debtors

£164,261

25.1%

£131,303

-12%

£149,239

90%

£78,539

-40.6%

£132,152

Cash

£77,070

35.3%

£56,974

28%

£44,526

399.8%

£8,909

-62.9%

£24,024

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£383,326

-3.2%

£396,009

24.8%

£317,339

47.1%

£215,670

1.6%

£212,244

Trade Creditors

£362,290

-11.5%

£409,174

7%

£382,553

17.3%

£326,081

-3%

£336,279

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-100%

£15,000

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

Total Current Liabilities

£362,290

-11.5%

£409,174

7%

£382,553

17.3%

£326,081

-7.2%

£351,279

Bank Loans & Overdrafts and LTL

0

-

0

-

0

-

0

-

0

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

 

.

Capital & Reserves

 

Date Of Accounts

30/09/14

(%)

30/09/13

(%)

30/09/12

(%)

30/09/11

(%)

30/09/10

Called Up Share Capital

£25,000

-

£25,000

-

£25,000

-

£25,000

-

£25,000

P & L Account Reserve

-£3,888

89.8%

-£38,063

57.7%

-£90,078

33.4%

-£135,229

17.4%

-£163,793

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£21,112

261.6%

-£13,063

79.9%

-£65,078

41%

-£110,229

20.6%

-£138,793

 

 

Other Financial Items

 

Date Of Accounts

30/09/14

(%)

30/09/13

(%)

30/09/12

(%)

30/09/11

(%)

30/09/10

Net Worth

£21,112

261.6%

-£13,063

79.9%

-£65,078

41%

-£110,229

20.6%

-£138,793

Working Capital

£21,036

259.8%

-£13,165

79.8%

-£65,214

40.9%

-£110,411

20.6%

-£139,035

Total Assets

£383,402

-3.2%

£396,111

24.8%

£317,475

47.1%

£215,852

1.6%

£212,486

Total Liabilities

£362,290

-11.5%

£409,174

7%

£382,553

17.3%

£326,081

-7.2%

£351,279

Net Assets

£21,112

261.6%

-£13,063

79.9%

-£65,078

41%

-£110,229

20.6%

-£138,793

 

 

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

£21,112

261.6%

-£13,063

79.9%

-£65,078

41%

-£110,229

20.6%

-£138,793

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

Auditor Comments

The company is exempt from audit

Bankers

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

1.06

0.97

0.83

0.66

0.60

Sales/Net Working Capital

-

-

-

-

-

Gearing %

0

0

0

0

0

Equity in %

5.50

-3.30

-20.50

-51.10

-65.30

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.66

0.46

0.50

0.26

0.44

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

17.16

-31.32

-5.87

-2.95

-2.53

Total Debt Ratio

17.16

-31.32

-5.87

-2.95

-2.53

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

 

Report Notes

 

There are notes t display 

 

 

Status Histoty

 

No Status History found

 

 

*Event History

 

Date

Description

12/03/2015

New Accounts Filed

12/02/2015

New Board Member Mrs A.A. Thomson appointed

17/11/2014

Mr P. Holmes has left the board

02/07/2014

New Accounts Filed

30/06/2014

Annual Returns

07/05/2014

Mr C. Clasen has left the board

09/07/2013

Annual Returns

18/02/2013

New Accounts Filed

06/07/2012

Annual Returns

05/03/2012

New Accounts Filed

12/08/2011

Annual Returns

07/06/2011

New Accounts Filed

07/06/2011

New Accounts Filed

10/07/2010

Annual Returns

18/06/2010

New Accounts Filed

 

 

Previous Company Names

 

Date

Previous Name

03/09/1990

KITSECTOR LIMITED

 

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

-

Ownership Status

Wholly Owned

Ultimate Holding Company

PROTIA LTD

 

 

Group structure

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

Description: \\vivek\Foreign Report Raw2\ROSSMAR TEXTILES LIMITED_files\tminus.gifPROTIA LTD

 

N/A

-

-

Description: \\vivek\Foreign Report Raw2\ROSSMAR TEXTILES LIMITED_files\L.gifROSSMAR TEXTILES LIMITED

 

SC125791

30.09.2014

N



Mortgage Details

 

Mortgage Type:

FLOATING CHARGE

Date Charge Created:

31/05/02

Date Charge Registered:

19/06/02

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

THE ROYAL BANK OF SCOTLAND COMMERCIAL SERVICES LIMITED

Amount Secured:

ALL SUMS DUE OR TO BECOME DUE

Details:

UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY INCLUDING UNCALLED CAPITAL

 

Mortgage Type:

BOND & FLOATING CHARGE

Date Charge Created:

19/07/95

Date Charge Registered:

26/07/95

Date Charge Satisfied:

09/01/98

Status:

SATISFIED

Person(s) Entitled:

THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND

Amount Secured:

ALL SUMS DUE OR TO BECOME DUE

Details:

THE WHOLE ASSETS OF THE COMPANY

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

William Ian McLellan

10

4

MOORES ROWLAND

2

9

Derek William Bates

6

6

DRURY HOUSE REGISTRARS LIMITED

47

62

Paul Holmes

4

2

Marion Irene McLellan

11

3

John Adam Bradford Carruthers

1

3

Christian Clasen

0

1

JORDANS (SCOTLAND) LIMITED

164

19789

OSWALDS OF EDINBURGH LIMITED

164

38447

 

Average Invoice Value

£40.29

Invoices available

21

Paid

21

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

7

11

2

1

0

Outstanding

0

0

0

0

0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.34

UK Pound

1

Rs.92.65

Euro

1

Rs.68.12

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

ASH

 

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.