MIRA INFORM REPORT

 

 

Report No. :

344433

Report Date :

08.10.2015

 

IDENTIFICATION DETAILS

 

Name :

RAUTOMEAD LIMITED

 

 

Formerly Known As :

RAUTOMEAD INTERNATIONAL LIMITED

 

 

Registered Office :

Nobel Road, Wester Gourdie Industrial Estate, Dundee, DD2 4UH

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.06.2014

 

 

Date of Incorporation :

08.08.1994

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :
  • Manufacture of metal forming machinery
  • Development and exploitation of the technology of continuous casting of non ferrous metals and the supply of equipment for the purpose

 

 

No. of Employee :

45 (30.06.2014)

 

 

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

 

 

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

 

RAUTOMEAD LIMITED

 

 

Company Summary

 

Registered Address

 

NOBEL ROAD
WESTER GOURDIE INDUSTRIAL ESTATE
DUNDEE
DD2 4UH

 

Trading Address

 

Nobel Road
West Gourdie Industrial Estate
Dundee
Angus
DD2 4UH

 

Website Address          http://www.rautomead.com

Telephone Number       01382622341

Fax Number                

TPS                              Yes

FPS                              No

Incorporation Date       08/08/1994

Previous Name RAUTOMEAD INTERNATIONAL LIMITED

Type                             Private limited with Share Capital

FTSE Index                  -

Date of Change 13/06/2005

Filing Date of

Accounts                      25/03/2015

Currency                      GBP

Share Capital               £100

SIC07                           28410

Charity Number            -

SIC07 Description        MANUFACTURE OF METAL FORMING MACHINERY

Principal Activity          Development and exploitation of the technology of continuous casting of non ferrous metals and the supply of equipment for the purpose.

 

 

 

Key Financials

 

Year to Date                 Turnover          Pre Tax Profit               Shareholder     Funds Employees

30/06/2014                    £4,477,775        -£859,387                      £2,416,483        45

30/06/2013                    £5,347,526        -£130,645                      £3,123,375        53

30/06/2012                    £6,673,958        £893,208                       £3,185,469        52

 

 

Mortgage Summary

 

Total Mortgage 3

Outstanding                 2

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 very positive net working capital position.

There has been a reduction 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

3

 

 

Current Directors

 

Name

Michael Nairn

Date of Birth

01/07/1938

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

03/02/1995

Address

55 Po Box, Dundee, Angus, DD1 9JJ

 

Name

Brian John Frame

Date of Birth

21/09/1962

Officers Title

Mr

Nationality

British

Present Appointments

3

Function

Director

Appointment Date

13/10/2008

Address

6 Cornhill Way, Perth, PH1 1LJ

 

Name

Ross Charles Miller

Date of Birth

30/12/1959

Officers Title

Mr

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

01/10/2010

Address

Primrose Farm Hagg Lane, Dunnington, York, YO19 5PE

 

 

Current Company Secretary

 

Name

Graham Baird Wood

Date of Birth

03/09/1965

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Company Secretary

Appointment Date

03/02/1995

Address

19 Alder Drive, Broughty Ferry, Dundee, Angus, DD5 3TT

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

RAUTOMEAD HOLDINGS LTD

GBP

100

ORDINARY

1

100

 

 

Financials

 

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

£4,477,775

-16.3%

£5,347,526

-19.9%

£6,673,958

-14.6%

£7,817,529

-6.9%

£8,398,506

Export

£4,468,330

-14.3%

£5,214,590

-19.9%

£6,508,211

-13.1%

£7,485,227

-4.3%

£7,819,292

Cost of Sales

£4,169,750

-3.4%

£4,317,694

-14.8%

£5,069,289

-17.3%

£6,133,333

-1.3%

£6,212,365

Gross Profit

£308,025

-70.1%

£1,029,832

-35.8%

£1,604,669

-4.7%

£1,684,196

-23%

£2,186,141

Wages & Salaries

£2,009,938

-10.2%

£2,239,412

-0.8%

£2,258,335

0.7%

£2,243,032

4.6%

£2,144,186

Directors Emoluments

£289,194

-13%

£332,292

-0.7%

£334,626

-5.3%

£353,326

-4.2%

£368,786

Operating Profit

-£856,423

-556.8%

-£130,384

-142.7%

£305,320

-40.5%

£513,562

-59.2%

£1,259,192

Depreciation

£60,771

2.2%

£59,455

-3.8%

£61,786

10.4%

£55,962

13.3%

£49,401

Audit Fees

£14,700

3.2%

£14,250

3.6%

£13,750

22.2%

£11,250

12.5%

£10,000

Interest Payments

£2,977

999.9%

£261

-65%

£746

-90.8%

£8,084

-85.4%

£55,324

Pre Tax Profit

-£859,387

-557.8%

-£130,645

-114.6%

£893,208

18.2%

£755,497

-37.3%

£1,204,025

Taxation

£152,495

122.5%

£68,551

777.9%

-£10,113

-112.8%

-£4,753

90.4%

-£49,644

Profit After Tax

-£706,892

-999.9%

-£62,094

-107%

£883,095

17.6%

£750,744

-35%

£1,154,381

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-£706,892

-999.9%

-£62,094

-107%

£883,095

17.6%

£750,744

-35%

£1,154,381

 

BALANCE SHEET

 

Date Of Accounts

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Tangible Assets

£922,592

-6.6%

£987,565

-3.3%

£1,021,304

79.7%

£568,371

1.6%

£559,652

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£922,592

-6.6%

£987,565

-3.3%

£1,021,304

79.7%

£568,371

1.6%

£559,652

Stock

£1,691,295

-12.7%

£1,937,618

41.6%

£1,367,893

68.8%

£810,346

20%

£675,060

Trade Debtors

£473,188

-56.9%

£1,097,978

-24.7%

£1,457,792

-16.2%

£1,738,599

-21.2%

£2,205,077

Cash

£152,774

5%

£145,482

-70%

£484,933

-35.8%

£755,583

88%

£401,914

Other Debtors

£227,632

32.1%

£172,364

51.1%

£114,038

-45.1%

£207,877

-58.4%

£499,178

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£2,544,889

-24.1%

£3,353,442

-2.1%

£3,424,656

-2.5%

£3,512,405

-7.1%

£3,781,229

Trade Creditors

£413,399

-23.4%

£539,501

-10.3%

£601,420

-13.6%

£696,334

17.4%

£593,117

Bank Loans & Overdrafts

£116,941

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-100%

£664,679

-39.1%

£1,090,665

Miscellaneous Current Liabilities

£504,765

-23.5%

£659,714

2.9%

£641,427

-33.5%

£964,468

-41.7%

£1,655,660

Total Current Liabilities

£1,035,105

-13.7%

£1,199,215

-3.5%

£1,242,847

-46.6%

£2,325,481

-30.4%

£3,339,442

Bank Loans & Overdrafts and LTL

£132,834

621.3%

£18,417

4.4%

£17,644

-16.2%

£21,059

17.3%

£17,947

Other Long Term Finance

0

-

0

-

0

-

0

-100%

£4,931

Total Long Term Liabilities

£15,893

-13.7%

£18,417

4.4%

£17,644

-16.2%

£21,059

17.3%

£17,947

.

CAPITAL & RESERVES

 

Date Of Accounts

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Called Up Share Capital

£100

-

£100

-

£100

-

£100

-

£100

P & L Account Reserve

£1,876,652

-27%

£2,572,181

-1.9%

£2,622,912

51.3%

£1,734,136

76.3%

£983,392

Revaluation Reserve

£539,731

-2.1%

£551,094

-2%

£562,457

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£2,416,483

-22.6%

£3,123,375

-1.9%

£3,185,469

83.7%

£1,734,236

76.3%

£983,492

 

OTHER FINANCIAL ITEMS

 

Date Of Accounts

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Net Worth

£2,416,483

-22.6%

£3,123,375

-1.9%

£3,185,469

83.7%

£1,734,236

76.3%

£983,492

Working Capital

£1,509,784

-29.9%

£2,154,227

-1.3%

£2,181,809

83.8%

£1,186,924

168.7%

£441,787

Total Assets

£3,467,481

-20.1%

£4,341,007

-2.4%

£4,445,960

8.9%

£4,080,776

-6%

£4,340,881

Total Liabilities

£1,050,998

-13.7%

£1,217,632

-3.4%

£1,260,491

-46.3%

£2,346,540

-30.1%

£3,357,389

Net Assets

£2,416,483

-22.6%

£3,123,375

-1.9%

£3,185,469

83.7%

£1,734,236

76.3%

£983,492

 

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

YES

-

YES

-

YES

-

YES

-

YES

Capital Employed

£2,432,376

-22.6%

£3,141,792

-1.9%

£3,203,113

82.5%

£1,755,295

75.3%

£1,001,439

Number of Employees

45

-15.1%

53

1.9%

52

13%

46

15%

40

Accountants

Auditors

EQ ACCOUNTANTS LLP

Auditor Comments

The audit report contains no adverse comments

Bankers

HSBC BANK PLC

Bank Branch Code

40-01-25

 

RATIOS

 

Date Of Accounts

30/06/14

30/06/13

30/06/12

30/06/11

30/06/10

Pre-tax profit margin %

-19.19

-2.44

13.38

9.66

14.34

Current ratio

2.46

2.80

2.76

1.51

1.13

Sales/Net Working Capital

2.97

2.48

3.06

6.59

19.01

Gearing %

5.50

0.60

0.60

1.20

1.80

Equity in %

69.70

72

71.60

42.50

22.70

Creditor Days

33.60

36.72

32.80

32.42

25.70

Debtor Days

38.46

74.73

79.50

80.95

95.57

Liquidity/Acid Test

0.82

1.18

1.65

1.16

0.93

Return On Capital Employed %

-35.33

-4.15

27.88

43.04

120.22

Return On Total Assets Employed %

-24.78

-3

20.09

18.51

27.73

Current Debt Ratio

0.42

0.38

0.39

1.34

3.39

Total Debt Ratio

0.43

0.38

0.39

1.35

3.41

Stock Turnover Ratio %

37.77

36.23

20.49

10.36

8.03

Return on Net Assets Employed %

-35.56

-4.18

28.04

43.56

122.42

 

Report Notes

 

There are no notes to display.

 

Status History

 

No Status History found

 

Previous Company Names

 

Date

Previous Name

13/06/2005

RAUTOMEAD INTERNATIONAL LIMITED

30/01/1995

CASTLELAW (NO. 147) LIMITED

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

RAUTOMEAD HOLDINGS LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

RAUTOMEAD HOLDINGS LIMITED

 

 

Group Structure

 

Company Name

Safe Number

Registered Number

Latest Key Financials

Consol. Accounts

Rating

Limit

Turnover

Description: \\shraddha\Online Foreign Reports\RAUTOMEAD LIMITED_files\tminus.gif RAUTOMEAD HOLDINGS LIMITED

UK07260783

SC153985

30.06.2014

Y

61

£86,000

£4,477,775

Description: \\shraddha\Online Foreign Reports\RAUTOMEAD LIMITED_files\L.gif RAUTOMEAD LIMITED

UK07259165

SC152367

30.06.2014

N

44

£50,000

£4,477,775

 

 

Mortgage Details

 

Mortgage Type:

STANDARD SECURITY

Date Charge Created:

23/12/11

Date Charge Registered:

04/01/12

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

HSBC BANK PLC

Amount Secured:

ALL SUMS DUE OR TO BECOME DUE

Details:

PLOT OR AREA OF GROUND LYING WITHIN THEDISTRICT OF DUNDEE EXTENDING TO 79 DECIMAL OR ONE HUNDREDTH PARTS OF A HECTARE.AND SECOND THAT PLOT OR AREA OF GROUND LYING WITHIN THE DISTRICT OF DUNDEE EXTENDING TO 32 DECIMAL OR ONE HUNDREDTH PARTS OF A HECTARE.

Mortgage Type:

FLOATING CHARGE

Date Charge Created:

17/11/11

Date Charge Registered:

30/11/11

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

HSBC BANK PLC

Amount Secured:

ALL SUMS DUE OR TO BECOME DUE

Details:

UNDERTAKING & ALL PROPERTY & ASSETS PRESENT & FUTURE, INCLUDING UNCALLED CAPITAL

 

Mortgage Type:

BOND & FLOATING CHARGE

Date Charge Created:

28/02/95

Date Charge Registered:

07/03/95

Date Charge Satisfied:

10/01/12

Status:

SATISFIED

Person(s) Entitled:

THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND

Amount Secured:

Details:

THE WHOLE ASSETS OF THE COMPANY

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

Sandy Robertson Cochrane

5

4

Ivan James Grant Carnegie

21

130

THORNTONS WS

139

214

Average Invoice Value

Ł740.37

Invoices available

50

Paid

50

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

18

24

5

1

2

Outstanding

0

0

0

0

0

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.26

UK Pound

1

Rs.99.53

Euro

1

Rs.73.47

 

INFORMATION DETAILS

 

Analysis Done by :

HEN

 

 

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.