MIRA INFORM REPORT

 

 

Report No. :

348889

Report Date :

13.11.2015

 

IDENTIFICATION DETAILS

 

Name :

FLEXOKORE U.K. LIMITED

 

 

Formerly Known As :

FLEXOKORE LIMITED

 

 

Registered Office :

Willowcroft, Brasted Chart Westerham Kent TN16 1LX

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.04.2014

 

 

Date of Incorporation :

08.04.2004

 

 

Com. Reg. No.:

05098877

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :
  • Wholesale of wood, construction materials and sanitary equipment.
  • Distributor for specialist timber products.

 

 

No. of Employee :

Not Available

 

 

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 :

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 has been a net importer of energy since 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 6.0% in 2014.

In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.7% and in 2014, 2.6%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

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).

 

Source : CIA

 

Company name and address

 

FLEXOKORE U.K. LIMITED

 

Company No:

05098877

 

Registered Address:

WILLOWCROFT, BRASTED CHART WESTERHAM KENT TN16 1LX

 

 

Company Summary

 

Registered Address

WILLOWCROFT, BRASTED CHART WESTERHAM KENT TN16 1LX

Trading Address

 

Willowcroft Brasted Chart Westerham Kent TN16 1LX

Website Address

http://www.flexokore.co.uk

 

 

Telephone Number

01959565468

Fax Number

 

TPS

Yes

FPS

No

Incorporation Date

08/04/2004

 

 

Previous Name

FLEXOKORE LIMITED

Type

Private limited with Share Capital

FTSE Index

--

Date of Change

23/12/2005

Filing Date of Accounts

30/01/2015

Currency

GBP

Share Capital

£10,000

SIC07

46730

Charity Number

--

 

 

SIC07 Description

WHOLESALE OF WOOD, CONSTRUCTION MATERIALS AND SANITARY EQUIPMENT

Principal Activity

Distributor for specialist timber products.

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

30/04/2014

--

--

£415,495

--

30/04/2013

£951,154

-£9,021

£375,404

--

30/04/2012

£2,013,120

£178,086

£481,725

--

 

 

 

Mortgage Summary

 

Total Mortgage              1

Outstanding                  0

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.

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

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

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

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

0

 

 

Current Directors

 

Name

Keith Robinson

Date of Birth

31/08/1949

Officers Title

Mr

Nationality

British

Present Appointments

18

Function

Director

Appointment Date

08/04/2004

Address

Willowcroft Brasted Chart, Westerham, Kent, TN16 1LX

 

Name

Christopher Charles Read

Date of Birth

06/02/1950

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

24/06/2005

Address

Spencers Grove, Birdhouse Lane, Orpington, Kent, BR6 7LJ

 

 

Current Company Secretary

 

Name

Janice Patricia Castle

Date of Birth

14/06/1949

Officers Title

Ms

Nationality

British

Present Appointments

4

Function

Company Secretary

Appointment Date

08/04/2004

Address

Willowcroft, Brasted Chart, Westerham, Kent, TN16 1LX

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

CHRISTOPHER CHARLES READ

GBP

6,000

ORDINARY

1

60

LYNN CHRISTINE READ

GBP

3,000

ORDINARY

1

30

JOSEPH READ

GBP

1,000

ORDINARY

1

10

 

 

Profit & Loss

 

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

Turnover

-

-

£951,154

-52.8%

£2,013,120

-1.3%

£2,039,724

109.2%

£975,058

Export

-

-

£741,900

-55.1%

£1,650,758

2.4%

£1,611,382

211.8%

£516,781

Cost of Sales

-

-100%

£755,843

-54.4%

£1,658,834

2.8%

£1,613,290

102.8%

£795,312

Gross Profit

-

-

£195,311

-44.9%

£354,286

-16.9%

£426,434

137.2%

£179,746

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

£52,000

-

£52,000

1.2%

£51,400

14.7%

£44,800

Operating Profit

-

-

-

-

-

-

-

-

-

Depreciation

£1,032

-6.9%

£1,109

38.5%

£801

33.5%

£600

-32.3%

£886

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-£9,021

-105.1%

£178,086

-28.4%

£248,815

999.9%

£16,304

Taxation

-

-

£1,700

104.8%

-£35,678

31.9%

-£52,354

-999.9%

-£3,583

Profit After Tax

-

-

-£7,321

-105.1%

£142,408

-27.5%

£196,461

999.9%

£12,721

Dividends Payable

-

-

£99,000

33.8%

£74,000

208.3%

£24,000

-58.6%

£58,000

Retained Profit

-

-

-£106,321

-255.4%

£68,408

-60.3%

£172,461

480.9%

-£45,279

 

 

Balance Sheet

 

Date Of Accounts

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Tangible Assets

£469

-68.8%

£1,501

-19.3%

£1,860

83.3%

£1,015

-37.2%

£1,615

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£469

-68.8%

£1,501

-19.3%

£1,860

83.3%

£1,015

-37.2%

£1,615

Stock

£52,043

18%

£44,093

-58.2%

£105,423

-22.4%

£135,769

146.1%

£55,160

Trade Debtors

£204,171

50.1%

£136,008

-59.5%

£335,504

-15.1%

£395,346

147.4%

£159,806

Cash

£292,049

-8.9%

£320,645

-17.6%

£389,102

19.3%

£326,181

-9%

£358,531

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£548,263

9.5%

£500,746

-39.7%

£830,029

-3.2%

£857,296

49.5%

£573,497

Trade Creditors

£123,702

2.2%

£121,002

-59.8%

£300,829

-21.8%

£384,489

20.5%

£319,076

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

£9,535

63.2%

£5,841

-88.2%

£49,335

-18.5%

£60,505

298.6%

£15,180

Total Current Liabilities

£133,237

5%

£126,843

-63.8%

£350,164

-21.3%

£444,994

33.1%

£334,256

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

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Called Up Share Capital

£10,000

-

£10,000

-

£10,000

-

£10,000

-

£10,000

P & L Account Reserve

£405,495

11%

£365,404

-22.5%

£471,725

17%

£403,317

74.7%

£230,856

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£415,495

10.7%

£375,404

-22.1%

£481,725

16.6%

£413,317

71.6%

£240,856

 

 

Other Financial Items

 

Date Of Accounts

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Net Worth

£415,495

10.7%

£375,404

-22.1%

£481,725

16.6%

£413,317

71.6%

£240,856

Working Capital

£415,026

11%

£373,903

-22.1%

£479,865

16.4%

£412,302

72.3%

£239,241

Total Assets

£548,732

9.3%

£502,247

-39.6%

£831,889

-3.1%

£858,311

49.2%

£575,112

Total Liabilities

£133,237

5%

£126,843

-63.8%

£350,164

-21.3%

£444,994

33.1%

£334,256

Net Assets

£415,495

10.7%

£375,404

-22.1%

£481,725

16.6%

£413,317

71.6%

£240,856

 

 

Cash Flow

 

Date Of Accounts

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

 

Miscellaneous

 

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

£415,495

10.7%

£375,404

-22.1%

£481,725

16.6%

£413,317

71.6%

£240,856

Number of Employees

-

-

-

-

-

-

-

-

-

Accountants

Auditors

Auditor Comments

The company is exempt from audit

Bankers

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

30/04/14

30/04/13

30/04/12

30/04/11

30/04/10

Pre-tax profit margin %

-

-0.95

8.85

12.20

1.67

Current ratio

4.11

3.95

2.37

1.93

1.72

Sales/Net Working Capital

-

2.54

4.20

4.95

4.08

Gearing %

0

0

0

0

0

Equity in %

75.70

74.70

57.90

48.20

41.90

Creditor Days

-

46.30

54.39

68.61

119.11

Debtor Days

-

52.04

60.66

70.55

59.65

Liquidity/Acid Test

3.72

3.60

2.06

1.62

1.55

Return On Capital Employed %

-

-2.40

36.96

60.19

6.76

Return On Total Assets Employed %

-

-1.79

21.40

28.98

2.83

Current Debt Ratio

0.32

0.33

0.72

1.07

1.38

Total Debt Ratio

0.32

0.33

0.72

1.07

1.38

Stock Turnover Ratio %

-

4.63

5.23

6.65

5.65

Return on Net Assets Employed %

-

-2.40

36.96

60.19

6.76

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

18/04/2015

Annual Returns

05/02/2015

New Accounts Filed

27/05/2014

Annual Returns

07/02/2014

New Accounts Filed

22/04/2013

Annual Returns

01/03/2013

New Accounts Filed

23/04/2012

Annual Returns

06/02/2012

New Accounts Filed

04/05/2011

Annual Returns

29/01/2011

New Accounts Filed

23/04/2010

Annual Returns

01/02/2010

New Accounts Filed

10/05/2009

Annual Returns

27/03/2009

New Board Member Mr K. Robinson appointed

22/02/2009

New Accounts Filed

 

 

Previous Company Names

 

Date

Previous Name

23/12/2005

FLEXOKORE LIMITED

 

 

Writ Details

 

No writs found

 

Statistics

 

Group

-

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

-

Ownership Status

Ultimate Holding Company

-

 

 

Group Structure Full

 

No Group Structure

 

 

Mortgage Details

 

Mortgage Type:

DEBENTURE

Date Charge Created:

08/08/05

Date Charge Registered:

11/08/05

Date Charge Satisfied:

21/11/08

Status:

SATISFIED

Person(s) Entitled:

KEITH ROBINSON AND DEREK GOLDSMITH

Amount Secured:

£100,000.00 AND ALL OTHER MONIES DUE OR TO BECOME DUE

Details:

ALL LAND GOODWILL UNCALLED CAPITAL SECURITIES INSURANCES INTELLECTUAL PROPERTY DEBTS RENTS ASSET CONTRACTS OTHER CLAIMSFIXED PLANT AND EQUIPMENT LOOSE PLANT AND EQUIPMENT AND ALL OTHER ASSETS

 

 

Previous Director/Company Secretaries

 

No Previous Director Details

Average Invoice Value

Ł310.62

Invoices available

1

Paid

1

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

1

0

0

0

0

Outstanding

0

0

0

0

0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.35

UK Pound

1

Rs.100.28

Euro

1

Rs.71.30

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.