MIRA INFORM REPORT

Report No. :	505861
Report Date :	26.04.2018

IDENTIFICATION DETAILS

Name :	WANNER INTERNATIONAL LIMITED
Formerly Known As :	PORTCORD LIMITED
Registered Office :	Units 8 & 9 Fleet Business Park Sandy Lane Church Cookham GU52 8BF
Country :	United Kingdom
Financials (as on) :	31.12.2017
Date of Incorporation :	23.01.1984
Com. Reg. No.:	01784976
Legal Form :	Private limited with Share Capital
Line of Business :	· Non-specialised wholesale trade · Distribute pumps in Europe.
No. of Employees :	12 (2017)

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

WANNER INTERNATIONAL LIMITED

UNITS 8 & 9 FLEET BUSINESS PARK SANDY LANE CHURCH COOKHAM GU52 8BF

Company No.

01784976

Company Status

Active - Accounts Filed

Company Summary

Registered Address UNITS 8 & 9 FLEET BUSINESS PARK
SANDY LANE
CHURCH COOKHAM
GU52 8BF

Trading Address 8-9 Fleet Business Park
Sandy Lane
Church Crookham
Fleet, Hampshire
GU52 8BF

Website Address http://www.hydra-cell.eu

Telephone Number 01252816847

Fax Number

TPS No

FPS Yes

Incorporation Date 23/01/1984

Previous Name PORTCORD LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 09/03/1984

Filing Date of Accounts 14/03/2018

Currency GBP

Share Capital £900,000

SIC07 46900

Charity Number -

SIC07 Description NON-SPECIALISED WHOLESALE TRADE

Principal Activity Distribute pumps in Europe.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company WEC INC

Accountant WHITELEYS

Mortgages 1

Group 4 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

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

31/12/2017 - - £1,320,113 12

31/12/2016 - - £1,900,673 12

31/12/2015 - - £1,550,208 -

Mortgage Summary

Total Mortgage 1

Outstanding 1

Satisfied 0

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

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

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	8	Total Person's With Significant Control	1

Current Directors

Title	Mr	Function	Director
Name	Paul Davis	Nationality	British
Date of Birth	05/1965	Present Appointments	6
Latest Address	6 The Lyndons, Passfield, Liphook, Hants	Appointment Date	01/03/2005
Post Code	GU30 7SD
Title	Mr	Function	Director
Name	William Franklin Wanner Jnr	Nationality	American
Date of Birth	11/1942	Present Appointments	2
Latest Address	182 Bank Street Se, Minneapolis, Mn	Appointment Date	09/05/1984
Post Code	55 414

Title	Mr	Function	Director
Name	Joe Grewe	Nationality	American
Date of Birth	09/1956	Present Appointments	1
Latest Address	Units 8 & 9 Fleet Business Park, Sandy Lane, Church Cookham, Hampshire	Appointment Date	27/10/2010
Post Code	GU52 8BF

Current Company Secretary

Title	Mr	Function	Company Secretary
Name	Paul Davis	Nationality	British
Date of Birth	05/1965	Present Appointments	6
Latest Address	6 The Lyndons, Passfield, Liphook, Hants	Appointment Date	01/09/2009
Post Code	GU30 7SD

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
WEC INC.	GBP	900,000	ORDINARY	1	100

Profit & Loss

	Date Of Accounts	31/12/17	(%)	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13
	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	£11,098	-27.9%	£15,390	-11.3%	£17,359	6.5%	£16,292	-2.8%	£16,768
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/12/17	(%)	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13
	Tangible Assets	£1,318,630	-0.7%	£1,328,048	-1.1%	£1,343,438	0.3%	£1,339,073	-4.5%	£1,402,747
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£1,318,630	-0.7%	£1,328,048	-1.1%	£1,343,438	0.3%	£1,339,073	-4.5%	£1,402,747
	Stock	£417,739	-31.8%	£612,933	13.6%	£539,789	27.4%	£423,566	16.1%	£364,826
	Trade Debtors	£633,972	6.1%	£597,322	33.9%	£446,131	14.7%	£388,825	28.9%	£301,731
	Cash	£593,411	-59.7%	£1,473,577	71.6%	£858,656	-16.4%	£1,027,203	19.5%	£859,705
	Other Debtors	£110,006	49%	£73,828	-	0	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£1,755,128	-36.4%	£2,757,660	49.5%	£1,844,576	0.3%	£1,839,594	20.5%	£1,526,262
	Trade Creditors	£31,830	89.4%	£16,803	-99%	£1,633,717	237.1%	£484,618	10.6%	£438,338
	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
	Other Short Term Finance	£1,439,184	-24.8%	£1,912,876	-	0	-	0	-	0
	Miscellaneous Current Liabilities	£281,143	11.1%	£253,105	-	0	-	0	-	0
	Total Current Liabilities	£1,752,157	-19.7%	£2,182,784	33.6%	£1,633,717	237.1%	£484,618	10.6%	£438,338
	Bank Loans & Overdrafts and LTL	£1,488	-33.9%	£2,251	-44.9%	£4,089	-99.7%	£1,275,058	-	£1,275,058
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£1,488	-33.9%	£2,251	-44.9%	£4,089	-99.7%	£1,275,058	-	£1,275,058

Capital & Reserves

	Date Of Accounts	31/12/17	(%)	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13
	Called Up Share Capital	£900,000	-	£900,000	-	£900,000	-	£900,000	-	£900,000
	P & L Account Reserve	£420,113	-58%	£1,000,673	53.9%	£650,208	25.3%	£518,991	64.4%	£315,613
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£1,320,113	-30.5%	£1,900,673	22.6%	£1,550,208	9.2%	£1,418,991	16.7%	£1,215,613

Other Financial Items

	Date Of Accounts	31/12/17	(%)	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13
	Net Worth	£1,320,113	-30.5%	£1,900,673	22.6%	£1,550,208	9.2%	£1,418,991	16.7%	£1,215,613
	Working Capital	£2,971	-99.5%	£574,876	172.6%	£210,859	-84.4%	£1,354,976	24.5%	£1,087,924
	Total Assets	£3,073,758	-24.8%	£4,085,708	28.2%	£3,188,014	0.3%	£3,178,667	8.5%	£2,929,009
	Total Liabilities	£1,753,645	-19.7%	£2,185,035	33.4%	£1,637,806	-6.9%	£1,759,676	2.7%	£1,713,396
	Net Assets	£1,320,113	-30.5%	£1,900,673	22.6%	£1,550,208	9.2%	£1,418,991	16.7%	£1,215,613

Miscellaneous

	Date Of Accounts	31/12/17	(%)	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13
	Contingent Liability	YES	-	YES	-	YES	-	NO	-	NO
	Capital Employed	£1,321,601	-30.5%	£1,902,924	22.4%	£1,554,297	-42.3%	£2,694,049	8.2%	£2,490,671
	Number of Employees	12	-	12	-	-	-	-	-	-
	Accountants	WHITELEYS
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers	NATIONAL WESTMINSTER BANK PLC
	Bank Branch Code

Ratios

	Date Of Accounts	31/12/17	31/12/16	31/12/15	31/12/14	31/12/13
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	1	1.26	1.13	3.80	3.48
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	0.10	0.10	0.30	89.90	104.90
	Equity in %	42.90	46.50	48.60	44.60	41.50
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	0.76	0.98	0.79	2.92	2.64
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	1.32	1.14	1.05	0.34	0.36
	Total Debt Ratio	1.32	1.14	1.05	1.24	1.40
	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
16/03/2018	New Accounts Filed
16/03/2018	New Accounts Filed
25/09/2017	Confirmation Statement
09/04/2017	New Accounts Filed
09/04/2017	New Accounts Filed
04/10/2016	Annual Returns
24/05/2016	Payment Data Update Received
10/05/2016	Payment Data Update Received
10/04/2016	New Accounts Filed
29/09/2015	Annual Returns
04/06/2015	New Accounts Filed
26/09/2014	Annual Returns
17/03/2014	New Accounts Filed
25/09/2013	Annual Returns
02/04/2013	New Accounts Filed

Previous Company Names

Date	Previous Name
09/03/1984	PORTCORD LIMITED

Writ Details

No writs found

Statistics

Group	4 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status	Wholly Owned
Ultimate Holding Company	WEC INC

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
WEC INC	N/A	-	-
WANNER INTERNATIONAL L...	01784976	31.12.2017	N
WANGER ENTERPRISES L...	04724570	31.12.2017	N
JUDGEPHASE COMPANY L...	02928671	31.12.2017	N

Mortgage Details

Mortgage Type:	MORTGAGE
Date Charge Created:	01/11/91
Date Charge Registered:	06/11/91
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	A SPECIFIC EQUITABLE CHARGE OVER ALL FREEHOLD AND LEASEHOLD PROPERTIES AND/OR THE PROCEEDS OF SALE THEREOF FIXED AND FLOATING CHARGES OVER UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS AND THE BENEFITS OF ANY LICENCES

Previous Director/Company Secretaries

Name	Current Active Appointments		Previous Appointments	Dissolved Companies
Robin Lewis Marsh	0		4	20
Payton Alfred Hage	0		2	0
Bernard John Whicher	0		1	0
David Ian Pennington	3		70	217
Bernard John Whicher	3		1	0
Dennis John Heath	0		6	0
Dennis John Heath	0		6	0
Sbigniew Janusz Zytynski	0		1	0
Total Persons With Significant Control		1	Total Statements		0
Active		1	Active		0
Ceased		0	Ceased		0

Active Persons With Significant Control

Name	Mr William Franklin Wanner Jnr	Kind	Individual Person With Significant Control
Address	182 Bank Street Se, Minneapolis, Mn	Country Of Residence	United States
Post Code	55414	Nationality	American
Date of Birth	11/1943	Notified On	06/04/2016
Nature Of Control	Ownership Of Shares 75 To 100 Percent,Voting Rights 75 To 100 Percent,Right To Appoint And Remove Directors

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.70
UK Pound	1	INR 93.14
Euro	1	INR 81.43
GBP	1	INR 93.32

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

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	TRU

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.