MIRA
INFORM REPORT
|
Report No. : |
345401 |
|
Report Date : |
19.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MELTECH LIMITED |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
28.05.1999 |
|
|
|
|
Com. Reg. No.: |
03780047 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Manufacture of furnaces and furnace burners
and general mechanical engineering. |
|
|
|
|
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 – 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
MELTECH LIMITED
Company No:
03780047
Registered Address:
2 MILL ROAD HAVERHILL SUFFOLK CB9 8BD
Company Summary
|
Registered
Address |
2 MILL ROAD HAVERHILL SUFFOLK CB9 8BD |
Trading
Address |
2 Mill Road Haverhill Suffolk CB9 8BD |
|
Website
Address |
|
|
|
|
Telephone
Number |
-- |
Fax Number |
|
|
TPS |
-- |
FPS |
No |
|
Incorporation
Date |
28/05/1999 |
|
|
|
Previous
Name |
-- |
Type |
Private limited with Share Capital |
|
FTSE Index |
-- |
Date of
Change |
-- |
|
Filing Date
of Accounts |
08/10/2014 |
Currency |
GBP |
|
Share
Capital |
£500 |
SIC07 |
25620 |
|
Charity
Number |
-- |
|
|
|
SIC07
Description |
MACHINING |
||
|
Principal
Activity |
Manufacture of furnaces and furnace burners
and general mechanical engineering. |
||
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder |
Funds Employees |
|
31/03/2014 |
-- |
-- |
£277,314 |
-- |
|
31/03/2013 |
-- |
-- |
£267,069 |
-- |
|
31/03/2012 |
-- |
-- |
£252,033 |
-- |
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. |
|
|
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. |
|
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 |
4 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company
Secretaries |
2 |
Current Directors
|
Name |
James Alan Macey |
Date of Birth |
09/04/1932 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
28/05/1999 |
|
|
|
Address |
102 Coalway Road, Penn, Wolverhampton, West
Midlands, WV3 7NB |
||
|
Name |
Neil Stephen Moore |
Date of Birth |
16/06/1966 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
4 |
Function |
Director |
|
Appointment Date |
28/05/1999 |
|
|
|
Address |
2 Mill Road, Haverhill, Suffolk, CB9 8BD |
||
|
Name |
Stephen James Macey |
Date of Birth |
18/03/1963 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
8 |
Function |
Director |
|
Appointment Date |
28/05/1999 |
|
|
|
Address |
185 Cannock Road, Westcroft, North
Wolverhampton, South Staffordshire, WV10 8QL |
||
|
Name |
Russell Anthony Hunt |
Date of Birth |
14/12/1965 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
15/11/2013 |
|
|
|
Address |
2 Mill Road, Haverhill, Suffolk, CB9 8BD |
||
Current Company Secretary
|
Name |
Jan Vanessa Macey |
Date of Birth |
- |
|
Officers Title |
Mrs |
Nationality |
|
|
Present Appointments |
1 |
Function |
Company Secretary |
|
Appointment Date |
19/10/2011 |
|
|
|
Address |
2 Mill Road, Haverhill, Suffolk, CB9 8BD |
||
Top 20
Shareholders
|
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
|
NEIL STEPHEN MOORE |
GBP |
100 |
ORDINARY B |
1 |
20 |
|
STEPHEN JAMES MACEY |
GBP |
100 |
ORDINARY A |
1 |
20 |
|
STEPHEN JAMES MACEY |
GBP |
100 |
ORDINARY B |
1 |
20 |
|
MRS JANET MACEY |
GBP |
100 |
ORDINARY A |
1 |
20 |
|
NEIL STEPHEN MOORE |
GBP |
100 |
ORDINARY A |
1 |
20 |
Profit & Loss
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
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 |
£7,846 |
73.4% |
£4,524 |
-9.2% |
£4,980 |
-13.5% |
£5,760 |
9.1% |
£5,280 |
|
Audit Fees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Interest Payments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Pre Tax Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Profit After Tax |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Balance Sheet
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Tangible Assets |
£47,995 |
149.4% |
£19,246 |
25.4% |
£15,345 |
-49.2% |
£30,226 |
78.1% |
£16,967 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed Assets |
£47,995 |
149.4% |
£19,246 |
25.4% |
£15,345 |
-49.2% |
£30,226 |
78.1% |
£16,967 |
|
Stock |
£189,050 |
-13.5% |
£218,650 |
108.9% |
£104,650 |
15.7% |
£90,450 |
14.1% |
£79,300 |
|
Trade Debtors |
£232,187 |
96% |
£118,437 |
-38.8% |
£193,646 |
10.7% |
£174,882 |
39.6% |
£125,263 |
|
Cash |
£155,204 |
-29.7% |
£220,783 |
108.7% |
£105,813 |
528.1% |
£16,847 |
-70% |
£56,075 |
|
Other Debtors |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£576,441 |
3.3% |
£557,870 |
38% |
£404,109 |
43.2% |
£282,179 |
8.3% |
£260,638 |
|
Trade Creditors |
£328,314 |
8.3% |
£303,182 |
82.8% |
£165,851 |
-2.1% |
£169,326 |
26% |
£134,378 |
|
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 |
£328,314 |
8.3% |
£303,182 |
82.8% |
£165,851 |
-2.1% |
£169,326 |
26% |
£134,378 |
|
Bank Loans & Overdrafts and LTL |
£18,808 |
174% |
£6,865 |
337.3% |
£1,570 |
-32.4% |
£2,322 |
98.1% |
£1,172 |
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long Term Liabilities |
£18,808 |
174% |
£6,865 |
337.3% |
£1,570 |
-32.4% |
£2,322 |
98.1% |
£1,172 |
Capital &
Reserves
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Called Up Share Capital |
£500 |
- |
£500 |
- |
£500 |
- |
£500 |
- |
£500 |
|
P & L Account Reserve |
£276,814 |
3.8% |
£266,569 |
6% |
£251,533 |
79.3% |
£140,257 |
-0.9% |
£141,555 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£277,314 |
3.8% |
£267,069 |
6% |
£252,033 |
79.1% |
£140,757 |
-0.9% |
£142,055 |
Other Financial
Items
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Net Worth |
£277,314 |
3.8% |
£267,069 |
6% |
£252,033 |
79.1% |
£140,757 |
-0.9% |
£142,055 |
|
Working Capital |
£248,127 |
-2.6% |
£254,688 |
6.9% |
£238,258 |
111.1% |
£112,853 |
-10.6% |
£126,260 |
|
Total Assets |
£624,436 |
8.2% |
£577,116 |
37.6% |
£419,454 |
34.3% |
£312,405 |
12.5% |
£277,605 |
|
Total Liabilities |
£347,122 |
12% |
£310,047 |
85.2% |
£167,421 |
-2.5% |
£171,648 |
26.6% |
£135,550 |
|
Net Assets |
£277,314 |
3.8% |
£267,069 |
6% |
£252,033 |
79.1% |
£140,757 |
-0.9% |
£142,055 |
Cash Flow
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Net Cashflow from Operations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow before Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow from Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Increase in Cash |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Miscellaneous
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£296,122 |
8.1% |
£273,934 |
8% |
£253,603 |
77.2% |
£143,079 |
-0.1% |
£143,227 |
|
Number of Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Accountants |
HACKETT GRIFFEY LLP |
||||||||
|
Auditors |
|
||||||||
|
Auditor Comments |
The company is exempt from audit |
||||||||
|
Bankers |
HSBC BANK PLC |
||||||||
|
Bank Branch Code |
40-47-11 |
||||||||
Ratios
|
Date Of Accounts |
31/03/14 |
31/03/13 |
31/03/12 |
31/03/11 |
31/03/10 |
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
Current ratio |
1.76 |
1.84 |
2.44 |
1.67 |
1.94 |
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
6.80 |
2.60 |
0.60 |
1.60 |
0.80 |
|
Equity in % |
44.40 |
46.30 |
60.10 |
45.10 |
51.20 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid Test |
1.17 |
1.11 |
1.80 |
1.13 |
1.34 |
|
Return On Capital Employed % |
- |
- |
- |
- |
- |
|
Return On Total Assets Employed % |
- |
- |
- |
- |
- |
|
Current Debt Ratio |
1.18 |
1.13 |
0.65 |
1.20 |
0.94 |
|
Total Debt Ratio |
1.25 |
1.16 |
0.66 |
1.21 |
0.95 |
|
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 |
|
23/06/2015 |
Annual Returns |
|
13/10/2014 |
New Accounts Filed |
|
16/06/2014 |
Annual Returns |
|
05/12/2013 |
New Board Member Mr R.A. Hunt appointed |
|
08/07/2013 |
New Accounts Filed |
|
18/06/2013 |
Annual Returns |
|
24/10/2012 |
New Accounts Filed |
|
15/06/2012 |
Annual Returns |
|
01/11/2011 |
New Accounts Filed |
|
01/11/2011 |
New Accounts Filed |
|
26/10/2011 |
New Company Secretary Mrs J.V. Macey
appointed |
|
25/10/2011 |
Mr N.S. Moore has resigned as company
secretary |
|
17/06/2011 |
Annual Returns |
|
11/09/2010 |
New Accounts Filed |
|
12/06/2010 |
Annual Returns |
Previous Company Names
|
No Previous Names found |
Writ Details
|
No writs found |
Statistics
|
Group |
2 companies |
|
Linkages |
0 companies |
|
Countries |
In 0 countries |
Summary
|
Holding Company |
MELTECH LIMITED |
|
Ownership Status |
Ultimately Owned |
|
Ultimate Holding Company |
MELTECH LIMITED |
Group Structure Full
|
Company Name |
Registered Number |
Latest Key Financials |
Consol. Accounts |
Turnover |
|
|
03780047 |
31.03.2014 |
N |
|
|
|
07635735 |
31.03.2014 |
N |
|
Previous Director/Company
Secretaries
|
Name |
Current Directorships |
Previous Directorships |
|
|
Neil Stephen Moore |
4 |
1 |
|
|
SWIFT INCORPORATIONS LIMITED |
2579 |
263489 |
|
|
Average Invoice Value |
Ł176.71 |
|
|
|
Invoices available |
88 |
|
|
|
Paid |
88 |
|
|
|
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 |
37 |
37 |
11 |
2 |
1 |
|
Outstanding |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.97 |
|
|
1 |
Rs.100.54 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.