MIRA INFORM REPORT

Report No. :	488688
Report Date :	02.02.2018

IDENTIFICATION DETAILS

Name :	VOLSPEC LIMITED
Registered Office :	Woodrolfe Road Tollesbury, Maldon, Essex CM9 8SE
Country :	United Kingdom
Financials (as on) :	30.04.2017
Date of Incorporation :	03.10.1973
Com. Reg. No.:	01137688
Legal Form :	Private Limited with Share Capital
Line of Business :	· Other Engineering Activities · General Mechanical Engineering
No. of Employees :	23 [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 (30.06.2017)	Current Rating (30.09.2017)
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 Summary

Registered Address

Woodrolfe Road Tollesbury
Maldon
Essex
CM9 8SE

Trading Address

Woodrolfe Road
Tollesbury
Maldon
Essex
CM9 8SE

Website Address http://www.volspec.co.uk

Company Number 01137688

Telephone Number 01621869756

Fax Number -

TPS No

FPS Yes

Incorporation Date 03/10/1973

Previous Name -

Type Private Limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 16/01/2018

Currency GBP

Share Capital £104

SIC07 71129

Charity Number -

SIC07 Description Other Engineering Activities

Principal Activity General Mechanical Engineering.

Additional Information

CCJ's

0 (£0)

No CCJ Information To Display

Ultimate Holding Company VOLSPEC (HOLDINGS) LIMITED

Accountant LAMBERT CHAPMAN LLP

Mortgages 6

Group 2 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
30.04.2017	-	-	£1,021,607	23
30.04.2016	-	-	£1,724,697	24
30.04.2015	-	-	£1,704,529	-

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

This company has been treated as a Small company in.

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.

This company trades in an industry with a lower 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	0
Total Previous Directors / Company Secretaries	3	Total Person's With Significant Control	1

Current Directors

Title	Mr	Function	Director
Name	Robert George Brammer	Nationality	British
Date of Birth	10/1959	Present Appointments	2
Latest Address	Woodrolfe Road Tollesbury, Maldon, Essex	Appointment Date	30/04/2008
Post Code	CM9 8SE
Title	Mr	Function	Director
Name	Andrew Graham Read	Nationality	British
Date of Birth	06/1962	Present Appointments	2
Latest Address	Woodrolfe Road Tollesbury, Maldon, Essex	Appointment Date	06/04/2017
Post Code	CM9 8SE

Title	Mr	Function	Director
Name	Andrew William Notley	Nationality	British
Date of Birth	01/1982	Present Appointments	1
Latest Address	Woodrolfe Road Tollesbury, Maldon, Essex	Appointment Date	06/04/2017
Post Code	CM9 8SE

Current Company Secretary

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
VOLSPEC (HOLDINGS) LTD	GBP	100	ORDINARY A	1	96.15
MR ANDREW GRAHAM READ	GBP	2	ORDINARY B	1	1.92
MR ANDREW WILLIAM NOTLEY	GBP	2	ORDINARY B	1	1.92

Profit & Loss

	Date Of Accounts	30/04/17	(%)	30/04/16	(%)	30/04/15	(%)	30/04/14	(%)	30/04/13
	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	£20,683	-14.4%	£24,162	35.1%	£17,878	-14.9%	£20,996	-21.7%	£26,806
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	30/04/17	(%)	30/04/16	(%)	30/04/15	(%)	30/04/14	(%)	30/04/13
	Tangible Assets	£70,759	-9%	£77,732	-17.9%	£94,656	48.3%	£63,843	-30.5%	£91,823
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£70,759	-9%	£77,732	-17.9%	£94,656	48.3%	£63,843	-30.5%	£91,823
	Stock	£318,927	26.6%	£251,921	-10.5%	£281,559	-19.8%	£350,946	12%	£313,212
	Trade Debtors	£601,743	99.2%	£302,057	-83.7%	£1,855,796	34.4%	£1,380,989	1.4%	£1,361,746
	Cash	£341,772	60.5%	£212,952	-44%	£380,077	17.3%	£323,909	14.6%	£282,653
	Other Debtors	£475,694	-64.9%	£1,356,855	-	0	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£1,738,136	-18.2%	£2,123,785	-15.6%	£2,517,432	22.5%	£2,055,844	5%	£1,957,611
	Trade Creditors	£478,735	115.1%	£222,573	-74.7%	£879,279	79.1%	£491,033	5.6%	£465,119
	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
	Other Short Term Finance	£4,628	-1.9%	£4,720	-	0	-	0	-	0
	Miscellaneous Current Liabilities	£289,843	26.3%	£229,566	-	0	-	0	-	0
	Total Current Liabilities	£773,206	69.2%	£456,859	-48%	£879,279	79.1%	£491,033	5.6%	£465,119
	Bank Loans & Overdrafts and LTL	£14,082	-29.5%	£19,961	-29.4%	£28,280	135.4%	£12,012	-18.2%	£14,680
	Other Long Term Finance	0	-100%	£4,629	-	0	-	0	-	0
	Total Long Term Liabilities	£14,082	-29.5%	£19,961	-29.4%	£28,280	135.4%	£12,012	-18.2%	£14,680

Capital & Reserves

	Date Of Accounts	30/04/17	(%)	30/04/16	(%)	30/04/15	(%)	30/04/14	(%)	30/04/13
	Called Up Share Capital	£104	4%	£100	-	£100	-	£100	-	£100
	P & L Account Reserve	£985,430	-42.5%	£1,712,660	1.2%	£1,692,492	5.5%	£1,604,605	3%	£1,557,598
	Revaluation Reserve	£11,937	-	£11,937	-	£11,937	-	£11,937	-	£11,937
	Sundry Reserves	£24,136	-	-	-	-	-	-	-	-
	Shareholder Funds	£1,021,607	-40.8%	£1,724,697	1.2%	£1,704,529	5.4%	£1,616,642	3%	£1,569,635

Other Financial Items

	Date Of Accounts	30/04/17	(%)	30/04/16	(%)	30/04/15	(%)	30/04/14	(%)	30/04/13
	Net Worth	£1,021,607	-40.8%	£1,724,697	1.2%	£1,704,529	5.4%	£1,616,642	3%	£1,569,635
	Working Capital	£964,930	-42.1%	£1,666,926	1.8%	£1,638,153	4.7%	£1,564,811	4.8%	£1,492,492
	Total Assets	£1,808,895	-17.8%	£2,201,517	-15.7%	£2,612,088	23.2%	£2,119,687	3.4%	£2,049,434
	Total Liabilities	£787,288	65.1%	£476,820	-47.5%	£907,559	80.4%	£503,045	4.8%	£479,799
	Net Assets	£1,021,607	-40.8%	£1,724,697	1.2%	£1,704,529	5.4%	£1,616,642	3%	£1,569,635

Cash Flow

	Date Of Accounts	30/04/17	(%)	30/04/16	(%)	30/04/15	(%)	30/04/14	(%)	30/04/13
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	30/04/17	(%)	30/04/16	(%)	30/04/15	(%)	30/04/14	(%)	30/04/13
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£1,035,689	-40.6%	£1,744,658	0.7%	£1,732,809	6.4%	£1,628,654	2.8%	£1,584,315
	Number of Employees	23	-4.2%	24	-	-	-	-	-	-
	Accountants	LAMBERT CHAPMAN LLP
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers	BARCLAYS BANK PLC
	Bank Branch Code	20-19-25

Ratios

	Date Of Accounts	30/04/17	30/04/16	30/04/15	30/04/14	30/04/13
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	2.25	4.65	2.86	4.19	4.21
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	1.40	1.20	1.70	0.70	0.90
	Equity in %	56.50	78.30	65.30	76.30	76.60
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	1.83	4.09	2.54	3.47	3.53
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	0.75	0.26	0.51	0.30	0.29
	Total Debt Ratio	0.77	0.27	0.53	0.31	0.30
	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
18/01/2018	New Accounts Filed
18/01/2018	New Accounts Filed
05/07/2017	Confirmation Statement
02/06/2017	New Board Member Mr A.W. Notley appointed
02/06/2017	New Board Member Mr A.G. Read appointed
13/12/2016	Payment Data Update Received
07/12/2016	Payment Data Update Received
24/11/2016	Payment Data Update Received
23/09/2016	Mr P.C. Mott has resigned as company secretary
23/09/2016	Mr P.C. Mott has left the board
23/08/2016	New Accounts Filed
25/06/2016	Annual Returns
22/07/2015	New Accounts Filed
07/07/2015	Annual Returns
04/08/2014	New Accounts Filed

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	VOLSPEC (HOLDINGS) LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	VOLSPEC (HOLDINGS) LIMITED

Group StructureFull

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
VOLSPEC (HOLDINGS) LIMITED	06497601	30.04.2017	N
VOLSPEC LIMITED	01137688	30.04.2017	N

Mortgage Details

Mortgage Type:	FIXED & FLOATING CHARGE
Date Charge Created:	09/06/08
Date Charge Registered:	20/07/13
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC;
Amount Secured:
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY
Mortgage Type:	GUARANTEE AND FIXED AND FLOATING CHARGE
Date Charge Created:	09/06/08
Date Charge Registered:	20/07/13
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC;
Amount Secured:
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY SEE IMAGEFOR FULL DETAILS

Mortgage Type:	GUARANTEE & DEBENTURE GUARANTEE & DEBENTURE
Date Charge Created:	30/04/08
Date Charge Registered:	20/07/13
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC;
Amount Secured:
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY
Mortgage Type:	DEBENTURE
Date Charge Created:	13/03/03
Date Charge Registered:	21/03/03
Date Charge Satisfied:	03/05/08
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	08/04/80
Date Charge Registered:	14/04/80
Date Charge Satisfied:	19/03/03
Status:	SATISFIED
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:	F/H PREMISES AT WOODROLFE ROAD, TOLLESBURY ESSEX FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT
Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	26/09/75
Date Charge Registered:	14/10/75
Date Charge Satisfied:	19/03/03
Status:	SATISFIED
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:	LAND AND WORKS FRONTING WOODROLFE ROAD,TOLLESBURY ESSEX FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT

Previous Director/Company Secretaries

Name	Current Active Appointments			Previous Appointments	Dissolved Companies
Patrick Charles Mott	0			4	1
Patrick Charles Mott	0			4	1
Alan Trangmar Hornsey	0			1	1
Total Persons With Significant Control		1	Total Statements			0
Active		1	Active			0
Ceased		0	Ceased			0

Active Persons With Significant Control

Name	Volspec (Holdings) Limited	Kind	Corporate Entity With Significant Control
Address	3 Warners Mill Silks Way, Braintree, Essex	Notified On	06/04/2016
Post Code	CM7 3GB	Legal Form	Private Company Limited By Shares
Authority	Companies Act 2006	Place Registered	England And Wales
Country Registered	England And Wales	Registration Number	06497601
Nature Of Control	Ownership Of Shares 75 To 100 Percent,Voting Rights 75 To 100 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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.61
UK Pound	1	INR 90.17
Euro	1	INR 78.95
GBP	1	INR 91.46

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

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TPT

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.