MIRA INFORM REPORT

 

 

Report No. :

323307

Report Date :

21.05.2015

 

IDENTIFICATION DETAILS

 

Name :

CLOCKWORK COMPONENTS LIMITED

 

 

Formerly Known As :

RUBYMOUNTAIN LIMITED

 

 

Registered Office :

Unit 6 Network Point Range Road Witney Ox29 0yn

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.06.2014

 

 

Date of Incorporation :

15.03.2004

 

 

Com. Reg. No.:

05073827

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Wholesale of other intermediate products.

 

 

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 :

Small company

 

 

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 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

 

CLOCKWORK COMPONENTS LIMITED

 

Company No:

05073827

 

Registered Address:

UNIT 6 NETWORK POINTRANGE ROADWITNEYOX29 0YN

 

 

Company Summary

 

Registered Address

UNIT 6 NETWORK POINT RANGE ROAD WITNEY OX29 0YN

Trading Address

Unit 6 Network Point Range Road Witney, Oxfordshire OX29 0YN

Website Address

http://www.clockworkcomponents.com

 

 

Telephone Number

01993775767

Fax Number

 

TPS

Yes

FPS

No

Incorporation Date

15/03/2004

 

 

Previous Name

RUBYMOUNTAIN LIMITED

Type

 

FTSE Index

-

Date of Change

23/09/2004

Filing Date of Accounts

31/03/2015

Currency

GBP

Share Capital

£25,000

SIC07

46760

Charity Number

-

 

 

SIC07 Description

WHOLESALE OF OTHER INTERMEDIATE PRODUCTS

Principal Activity

--

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

30/06/2014

--

--

£791,732

--

30/06/2013

--

--

£667,835

--

30/06/2012

--

--

£720,258

--

 

 

Mortgage Summary

 

Total Mortgage             4

Outstanding                 4

Satisfied                       0

 

Trade Debtors / Bad Debt Summary

 

Total Number of Documented Trade                 28

Total Value of Documented Trade                    £59,870

 

 

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.

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

3

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

4

 

 

Current Directors

 

Name

Christopher Mark Plews

Date of Birth

02/11/1962

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

22/07/2008

Address

14 Turnpike Road, Oxford, Oxfordshire, OX2 9JQ

 

Name

James Justin Viney

Date of Birth

11/05/1966

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

16/03/2004

Address

Mount Owen Farm, Mount Owen Road Lew, Bampton, Oxfordshire, OX18 2BE

 

Name

Oliver Charles Richard Tattersall

Date of Birth

15/01/1974

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

22/07/2008

Address

Manor Cottage 4 Manor Lane, Clanfield, Bampton, Oxfordshire, OX18 2TR

 

 

Current Company Secretary

 

Name

Christopher Mark Plews

Date of Birth

02/11/1962

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Company Secretary

Appointment Date

26/04/2006

Address

14 Turnpike Road, Oxford, Oxfordshire, OX2 9JQ

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

CLOCKWORK HOLDINGS LTD

GBP

25,000

ORDINARY

1

100

 

 

Profit & Loss

 

Date Of Accounts

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

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

£66,106

-6.2%

£70,492

58.9%

£44,354

-11.3%

£50,010

-26.3%

£67,884

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Tangible Assets

£155,444

-22.7%

£201,219

127.8%

£88,329

-17.1%

£106,573

-16.3%

£127,256

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£155,444

-22.7%

£201,219

127.8%

£88,329

-17.1%

£106,573

-16.3%

£127,256

Stock

£646,826

-9%

£710,639

19.4%

£594,934

3.9%

£572,378

13%

£506,503

Trade Debtors

£1,821,046

6%

£1,717,687

-8.3%

£1,872,860

1.1%

£1,852,277

16.8%

£1,585,309

Cash

£224,167

528.3%

£35,680

-66.7%

£107,065

999.9%

£5,618

-25.5%

£7,538

Other Debtors

£2,700

-

0

-100%

£2,040

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£2,694,739

9.4%

£2,464,006

-4.4%

£2,576,899

6%

£2,430,273

15.8%

£2,099,350

Trade Creditors

£2,005,651

4.7%

£1,916,450

-0.9%

£1,934,478

-3.7%

£2,008,340

2.4%

£1,960,789

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

Total Current Liabilities

£2,005,651

4.7%

£1,916,450

-0.9%

£1,934,478

-3.7%

£2,008,340

2.4%

£1,960,789

Bank Loans & Overdrafts and LTL

£52,800

-34.8%

£80,940

671.4%

£10,492

-57.8%

£24,855

-54.6%

£54,793

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

£52,800

-34.8%

£80,940

671.4%

£10,492

-57.8%

£24,855

-54.6%

£54,793

 

 

Capital & Reserves

 

Date Of Accounts

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Called Up Share Capital

£25,000

-

£25,000

-

£25,000

-

£25,000

-

£25,000

P & L Account Reserve

£766,732

19.3%

£642,835

-7.5%

£695,258

45.3%

£478,651

157.3%

£186,024

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£791,732

18.6%

£667,835

-7.3%

£720,258

43%

£503,651

138.7%

£211,024

 

 

Other Financial Items

 

Date Of Accounts

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Net Worth

£791,732

18.6%

£667,835

-7.3%

£720,258

43%

£503,651

138.7%

£211,024

Working Capital

£689,088

25.8%

£547,556

-14.8%

£642,421

52.3%

£421,933

204.5%

£138,561

Total Assets

£2,850,183

6.9%

£2,665,225

0%

£2,665,228

5.1%

£2,536,846

13.9%

£2,226,606

Total Liabilities

£2,058,451

3.1%

£1,997,390

2.7%

£1,944,970

-4.3%

£2,033,195

0.9%

£2,015,582

Net Assets

£791,732

18.6%

£667,835

-7.3%

£720,258

43%

£503,651

138.7%

£211,024

 

 

Cash Flow

 

Date Of Accounts

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

 

Miscellaneous

 

Date Of Accounts

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£844,532

12.8%

£748,775

2.5%

£730,750

38.3%

£528,506

98.8%

£265,817

Number of Employees

-

-

-

-

-

-

-

-

-

 

Auditors

Auditor Comments

The company is exempt from audit

Bankers

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

30/06/14

30/06/13

30/06/12

30/06/11

30/06/10

Pre-tax profit margin %

-

-

-

-

-

Current ratio

1.34

1.29

1.33

1.21

1.07

Sales/Net Working Capital

-

-

-

-

-

Gearing %

6.70

12.10

1.50

4.90

26

Equity in %

27.80

25.10

27

19.90

9.50

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

1.02

0.91

1.02

0.92

0.81

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

2.53

2.86

2.68

3.98

9.29

Total Debt Ratio

2.59

2.99

2.70

4.03

9.55

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

07/04/2015

New Accounts Filed

07/04/2015

Annual Returns

05/04/2014

Annual Returns

05/04/2014

New Accounts Filed

05/04/2014

New Accounts Filed

12/04/2013

New Accounts Filed

03/04/2013

Annual Returns

27/04/2012

Annual Returns

02/04/2012

New Accounts Filed

09/04/2011

New Accounts Filed

30/03/2011

Annual Returns

17/04/2010

Annual Returns

10/04/2010

New Accounts Filed

10/05/2009

New Accounts Filed

08/04/2009

Annual Returns

 

 

Previous Company Names

 

Date

Previous Name

23/09/2004

RUBYMOUNTAIN LIMITED

 

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

CLOCKWORK HOLDINGS LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

CLOCKWORK HOLDINGS LIMITED

 

 

Group StructureFull

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

tminus CLOCKWORK HOLDINGS LIMITED

03693141

30.06.2014

N

L CLOCKWORK COMPONENTS L...

05073827

30.06.2014

N

 

 

Mortgage Details

 

Mortgage Type:

RENT DEPOSIT DEED

Date Charge Created:

07/01/13

Date Charge Registered:

15/01/13

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

JULIAN DONGWORTH LAY AND GILLIAN THERESA LAY

Amount Secured:

£8,468.40 DUE OR TO BECOME DUE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENTCREATING OR EVIDENCING THE CHARGE

Details:

THE INTEREST IN THE RENT DEPOSIT ACCOUNT

Mortgage Type:

RENT DEPOSIT DEED

Date Charge Created:

03/11/06

Date Charge Registered:

08/11/06

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

BARCLAYS LIFE ASSURANCE COMPANY LIMITED

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

THE DEPOSIT AND EACH AND EVERY DEBT REPRESENTED BY IT SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

Mortgage Type:

DEBENTURE

Date Charge Created:

08/04/06

Date Charge Registered:

11/04/06

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

HSBC 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

Mortgage Type:

DEBENTURE

Date Charge Created:

24/03/06

Date Charge Registered:

01/04/06

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

BARCLAYS 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

 

 

Creditor Details

 

Total Number

Total Value

Trade Creditors

0

-

No Creditor Data

 

 

Trade Debtors / Bad Debt Detail

 

Total Number of Documented Trade

Total Value of Documented Trade

Trade Debtors

28

£59,870

Company Name

Amount

Statement Date

Freestyle Of London Limited

£12,402

06/09/2012

Botley Furniture Limited

£10,552

25/02/2011

Nottingham Trophies Limited

£8,648

28/06/2011

Celtic Leather & Fabric Upholstery Limited

£3,985

06/01/2015

Gainsborough Reproductions Limited

£3,563

13/03/2013

Sofa Classics Limited

£3,339

30/04/2010

Glenbery Upholstery Limited

£2,655

17/09/2009

The Chesterfield Workshop Ltd

£2,380

20/03/2012

Ipec Furniture Limited

£1,563

21/06/2012

Gingko Design Furniture Ltd

£1,435

25/09/2012

U B U Limited

£1,433

18/05/2010

Jade Classic Designs Limited

£1,249

26/02/2013

J C & M P Smith Limited

£1,030

20/08/2014

Tract Limited

£929

13/05/2011

Wharram Designs Limited

£839

14/07/2014

S & L Upholstery (South Wales) Ltd

£656

30/06/2010

U B U Manufacturing Ltd

£565

22/12/2011

Classix Design Ltd

£487

29/11/2012

Hide And Chic Limited

£461

09/06/2010

C F S Furniture Ltd

£259

02/02/2012

Lancaster Partners Ltd

£226

02/07/2013

Designer Trade Furniture Ltd

£216

07/02/2014

L Neumann Overseas Limited

£201

19/08/2011

Swanglen Furniture Ltd

£188

04/07/2013

Manor House Upholstery Limited

£186

19/03/2013

Sovereign Sofas Limited

£175

19/04/2011

In Stitches Upholstery Ltd

£135

26/08/2010

Angraves Cane Furniture Ltd

£113

10/01/2011

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

Robert William Loosemore

2

67

Robert William Loosemore

2

67

CORPORATE APPOINTMENTS LIMITED

561

34023

SECRETARIAL APPOINTMENTS LIMITED

643

34995

Average Invoice Value

Ł457.95

Invoices available

129

Paid

123

Outstanding

6

 

 

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

48

53

19

3

0

Outstanding

5

0

0

0

1

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.86

UK Pound

1

Rs.98.89

Euro

1

Rs.70.73

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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.