MIRA INFORM REPORT

Report No. :	503897
Report Date :	14.04.2018

IDENTIFICATION DETAILS

Name :	WOOLLEN SPINNERS (HUDDERSFIELD) LIMITED
Formerly Known As :	WOOLLEN SPINNERS & DOUBLERS (HUDDERSFIELD) LIMITED
Registered Office :	Bank Chambers Market Street, Huddersfield, West Yorkshire, Hd1 2ew
Country :	United Kingdom
Financials (as on) :	31.03.2017
Date of Incorporation :	29.12.1960
Com. Reg. No.:	00678932
Legal Form :	Private limited with Share Capital
Line of Business :	· The Manufacture of woollen yarns · Preparation And Spinning Of Textile Fibres
No. of Employees :	55

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	No Complaints
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
United Kingdom	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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; 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 the UK’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 then CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which has continued under the Conservative government. However, the deficit still remains one of the highest in the G7, standing at 3.6% of GDP as of 2017, and the UK has pledged to lower its corporation tax from 20% to 17% by 2020. The UK had a debt burden of 90.4% GDP at the end of 2017.

The UK’s economy has begun to slow since the referendum vote to leave the EU in June 2016. A sustained depreciation of the British pound has increased consumer and producer prices, weighing on consumer spending without spurring a meaningful increase in exports. The UK has an extensive trade relationship with other EU members through its single market membership and economic observers have warned the exit will jeopardize its position as the central location for European financial services. Prime Minister MAY is seeking a new “deep and special” trade relationship with the EU following the UK’s exit. However, economists doubt that the UK will be able to preserve the benefits of EU membership without the obligations.

Source : CIA

Company name and address

Company Name: WOOLLEN SPINNERS (HUDDERSFIELD) LIMITED

Company No: 00678932

Registered Address: BANK CHAMBERS MARKET STREET HUDDERSFIELD WEST

YORKSHIRE HD1 2EW

Company Summary

Registered Address BANK CHAMBERS MARKET STREET
HUDDERSFIELD
WEST YORKSHIRE
HD1 2EW

Trading Address Bank Chambers Market Street
Huddersfield
West Yorkshire
HD1 2EW

Plover Road, Lindley Huddersfield,

west Yorkshire

England Hd3 3hr

Website Address http://www.woollenspinners.com

Telephone Number -

Fax Number

TPS -

FPS Yes

Incorporation Date 28/12/1960

Previous Name WOOLLEN SPINNERS & DOUBLERS (HUDDERSFIELD) LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 31/12/1979

Filing Date of Accounts 16/12/2017

Currency GBP

Share Capital £9,345

SIC07 13100

Charity Number -

SIC07 Description PREPARATION AND SPINNING OF TEXTILE FIBRES

Principal Activity The manufacture of woollen yarns.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company -

Accountant -

Mortgages 6

Group 0 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder's Funds Employees

31/03/2017 - - £1,787,629 55

31/03/2016 - - £1,835,429 -

31/03/2015 - - £1,878,315 -

Mortgage Summary

Total Mortgage 6

Outstanding 0

Satisfied 6

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

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.

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 Top

Show More

Total Current Directors	2	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	5	Total Person's With Significant Control	3

Current Directors

Title	Mr	Function	Director
Name	Peter Hill	Nationality	British
Date of Birth	04/1954	Present Appointments	1
Latest Address	128 Harrogate Road, Rawdon, Leeds, West Yorkshire	Appointment Date	23/06/1991
Post Code	LS19 6AH
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report
Title	Mr	Function	Director
Name	Mark Stephen Wood	Nationality	British
Date of Birth	10/1963	Present Appointments	1
Latest Address	Rock Cottage, 41 Slantgate Kirkburton, Huddersfield	Appointment Date	23/06/1991
Post Code	HD8 02N
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report

Current Company Secretary

Title	Ms	Function	Company Secretary
Name	Katy Elizabeth Wood	Nationality	British
Date of Birth	-	Present Appointments	1
Latest Address	Rock Cottage, 41 Slantgate, Kirkburton, Huddersfield, West Yorkshire	Appointment Date	04/07/2002
Post Code	HD8 0ZN
Other Actions		View Consumer Report	View Trace Report
	View Compliance Report

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MARK STEPHEN WOOD	GBP	4,766	ORDINARY	1	51
KATY ELIZABETH WOOD	GBP	2,711	ORDINARY	1	29.01
SEBASTIAN JAMES WOOD	GBP	934	ORDINARY	1	9.99
ISABELLA WOOD	GBP	934	ORDINARY	1	9.99
1

Financials

Profit & Loss

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	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	£43,049	-0.5%	£43,262	8.1%	£40,010	-16.1%	£47,705	15%	£41,486
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Tangible Assets	£673,290	3.1%	£652,823	-4.9%	£686,144	-0.5%	£689,769	8.2%	£637,620
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£673,290	3.1%	£652,823	-4.9%	£686,144	-0.5%	£689,769	8.2%	£637,620
	Stock	£336,211	-25.3%	£449,935	52.7%	£294,746	5%	£280,652	-27.8%	£388,836
	Trade Debtors	£1,130,006	7%	£1,056,317	-17.1%	£1,273,840	2.2%	£1,246,292	22.9%	£1,014,059
	Cash	£481,585	10.1%	£437,243	-17.5%	£530,022	3.5%	£512,264	-23.2%	£666,687
	Other Debtors	£95,185	-6.7%	£102,062	-	0	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£2,042,987	-0.1%	£2,045,557	-2.5%	£2,098,608	2.9%	£2,039,208	-1.5%	£2,069,582
	Trade Creditors	£511,698	-7.3%	£552,024	-35.7%	£858,041	-0.9%	£866,227	1.1%	£857,187
	Bank Loans & Overdrafts	£8,090	-	0	-	0	-	0	-	0
	Other Short Term Finance	0	-	0	-	0	-	0	-	0
	Miscellaneous Current Liabilities	£365,143	39.1%	£262,531	-	0	-	0	-	0
	Total Current Liabilities	£884,931	8.6%	£814,555	-5.1%	£858,041	-0.9%	£866,227	1.1%	£857,187
	Bank Loans & Overdrafts and LTL	£51,807	7%	£48,396	-	£48,396	-1.7%	£49,243	9.3%	£45,065
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£43,717	-9.7%	£48,396	-	£48,396	-1.7%	£49,243	9.3%	£45,065

.

Capital & Reserves

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Called Up Share Capital	£9,345	-	£9,345	-	£9,345	-	£9,345	-	£9,345
	P & L Account Reserve	£1,137,371	-4%	£1,185,171	-3.5%	£1,228,057	5.6%	£1,163,249	0.7%	£1,154,692
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	£640,913	-	£640,913	-	£640,913	-	£640,913	-	£640,913
	Shareholder Funds	£1,787,629	-2.6%	£1,835,429	-2.3%	£1,878,315	3.6%	£1,813,507	0.5%	£1,804,950

Other Financial Items

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Net Worth	£1,787,629	-2.6%	£1,835,429	-2.3%	£1,878,315	3.6%	£1,813,507	0.5%	£1,804,950
	Working Capital	£1,158,056	-5.9%	£1,231,002	-0.8%	£1,240,567	5.8%	£1,172,981	-3.3%	£1,212,395
	Total Assets	£2,716,277	0.7%	£2,698,380	-3.1%	£2,784,752	2%	£2,728,977	0.8%	£2,707,202
	Total Liabilities	£928,648	7.6%	£862,951	-4.8%	£906,437	-1%	£915,470	1.5%	£902,252
	Net Assets	£1,787,629	-2.6%	£1,835,429	-2.3%	£1,878,315	3.6%	£1,813,507	0.5%	£1,804,950

Cash Flow

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£1,831,346	-2.8%	£1,883,825	-2.2%	£1,926,711	3.4%	£1,862,750	0.7%	£1,850,015
	Number of Employees	55	-	-	-	-	-	-	-	-
	Accountants
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/03/17	31/03/16	31/03/15	31/03/14	31/03/13
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	2.31	2.51	2.45	2.35	2.41
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	2.90	2.60	2.60	2.70	2.50
	Equity in %	65.80	68	67.40	66.50	66.70
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	1.92	1.95	2.10	2.03	1.96
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	0.49	0.44	0.45	0.47	0.47
	Total Debt Ratio	0.51	0.47	0.48	0.50	0.49
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	-	-	-

Event History View Documents

Date	Description
26/12/2017	New Accounts Filed
26/12/2017	New Accounts Filed
12/08/2017	Payment Data Update Received
17/07/2017	Confirmation Statement
08/01/2017	New Accounts Filed
08/01/2017	New Accounts Filed
15/07/2016	Annual Returns
28/12/2015	New Accounts Filed
28/12/2015	New Accounts Filed
24/07/2015	Payment Data Update Received
21/07/2015	Payment Data Update Received
04/07/2015	Annual Returns
03/01/2015	New Accounts Filed
03/01/2015	New Accounts Filed
27/06/2014	Annual Returns

Previous Company Names

Date	Previous Name
31/12/1979	WOOLLEN SPINNERS & DOUBLERS (HUDDERSFIELD) 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

Statistics

Group	0 companies
Linkages	0 companies
Countries	In 0 countries

Mortgage Details

Mortgage Type:	FIXED CHARGE ON PURCHASED DEBTS WHICH FAIL TO VEST
Date Charge Created:	11/06/04
Date Charge Registered:	12/06/04
Date Charge Satisfied:	13/08/12
Status:	SATISFIED
Person(s) Entitled:	HSBC INVOICE FINANCE (UK) LTD
Amount Secured:
Details:	BY WAY OF FIXED EQUITABLE CHARGE ALL DEBTS PURCHASED OR PURPORTED TO BE PURCHASED BY THE SECURITY HOLDER PURSUANT TO ANAGREEMENT FOR THE PURCHASE OF DEBTS BETWEEN THE SECURITY HOLDER AND THE COMPANY(INCLUDING ASSOCIATED RIGHTS RELATING THERETO) WHICH FAIL TO VEST EFFECTIVELY OR ABSOLUTELY IN THE SECURITY HOLDER FOR ANY REASON
Mortgage Type:	CHARGE ON PLANT
Date Charge Created:	17/04/98
Date Charge Registered:	23/04/98
Date Charge Satisfied:	13/08/12
Status:	SATISFIED
Person(s) Entitled:	GEORGE ROGER WOOD, MARK STEPHEN WOOD, ELIZABETH ANN WOOD AND REA BROTHERS TRUSTEES LIMITEDTRUST
Amount Secured:
Details:	VOLKMAN 2 FOR 1 TWISTER VTS 84453090 GILBOS ASSEMBLY WINDERS NIDS-D WITH ALL ADDITIONS ALTERATIONS ETC THE BENEFIT OF ANY GUARANTEE RIGHTS AND INTERESTSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	21/12/95
Date Charge Registered:	09/01/96
Date Charge Satisfied:	13/08/12
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:
Details:	WELLINGTON MILLS LINDLEY HUDDERSFIELD WITH THE BENEFIT OF ALL RIGHTS LICENCES GUARANTEES RENT DEPOSITS CONTRACTS DEEDS UNDERTAKINGS AND WARRANTIES RELATING TO THE PROPERTYSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage Type:	FIXED AND FLOATING CHARGE
Date Charge Created:	21/12/95
Date Charge Registered:	03/01/96
Date Charge Satisfied:	13/08/12
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL GOODWILL BOOKDEBTS AND PATENTS

Mortgage Type:	MORTGAGE
Date Charge Created:	20/10/76
Date Charge Registered:	25/10/76
Date Charge Satisfied:	13/08/12
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:
Details:	FLOATING CHARGE ON THEUNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE INCLUDING UNCALLED CAPITAL
Mortgage Type:	MORTGAGE
Date Charge Created:	20/10/76
Date Charge Registered:	25/10/76
Date Charge Satisfied:	01/05/98
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	WELLINGTON MILLS, LINDLEY, HUDDERSFIELD, TOG. WITH ALL FIXTURES.

Previous Director/Company Secretaries

Name	Current Active Appointments		Previous Appointments	Dissolved Companies
Peter Hill	1		1	2
John Alexander Semple	0		1	3
Elizabeth Ann Wood	0		2	1
Elizabeth Ann Wood	0		2	1
George Roger Wood	0		2	0
Total Persons With Significant Control	3	Total Statements		0
Active	3	Active		0
Ceased	0	Ceased		0

Active Persons With Significant Control

Name	Mr Peter Hill	Kind	Individual Person With Significant Control
Address	Bank Chambers Market Street, Huddersfield, West Yorkshire	Country Of Residence	England
Post Code	HD1 2EW	Nationality	British
Date of Birth	04/1954	Notified On	06/04/2016
Nature Of Control	Has significant influence or control
Name	Mrs Katy Elizabeth Wood	Kind	Individual Person With Significant Control
Address	Bank Chambers Market Street, Huddersfield, West Yorkshire	Country Of Residence	England
Post Code	HD1 2EW	Nationality	British
Date of Birth	10/1969	Notified On	06/04/2016
Nature Of Control	Ownership Of Shares 25 To 50 Percent,Voting Rights 25 To 50 Percent

Name	Mr Mark Stephen Wood	Kind	Individual Person With Significant Control
Address	Bank Chambers Market Street, Huddersfield, West Yorkshire	Country Of Residence	England
Post Code	HD1 2EW	Nationality	British
Date of Birth	10/1963	Notified On	06/04/2016
Nature Of Control	Ownership Of Shares 50 To 75 Percent,Voting Rights 50 To 75 Percent

Ceased Persons With Significant Control

No Ceased Persons With Significant Control To Display

Active Statements

No Active Statements To Display

Ceased Statements

No Ceased Statements To Display

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.22
UK Pound	1	INR 92.77
Euro	1	INR 80.34
GBP	1	INR 92.87

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	KET

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.