MIRA INFORM REPORT

 

 

Report No. :

491448

Report Date :

12.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

COBELL LTD

 

 

Registered Office :

The Juice House 1 Leigham Business Units Exeter Ex2 8hy

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

12.11.1999

 

 

Com. Reg. No.:

03876527

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Subject is engaged in Importation, wholesale and distribution of fruit juice products.

 

 

No. of Employees :

55

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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 name and address

 

Company Name:                       COBELL LTD

Company No:                            03876527

Company Status:                      Active - Accounts Filed

Registered Address:                  THE JUICE HOUSE1 LEIGHAM BUSINESS UNITSEXETEREX2 8HY

 

 

Company Summary

 

Registered Address                  THE JUICE HOUSE
1 LEIGHAM BUSINESS UNITS
EXETER
EX2 8HY

 

Trading Address                      Unit 1
Leigham Business Units
Silverton Road
Exeter, Devon
EX2 8HY

 

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

 

Telephone Number                   01392825400

 

Fax Number

 

TPS                                          Yes

 

FPS                                          Yes

 

Incorporation Date                   12/11/1999

 

Type                                         Private limited with Share Capital

 

FTSE Index                              -

 

Date of Change             -

 

Filing Date of Accounts            26/09/2017

 

Currency                                  GBP

 

Share Capital                           £500,100

 

SIC07                                       46341

 

Charity Number                        -

 

SIC07 Description                    WHOLESALE OF FRUIT AND VEGETABLE JUICES, MINERAL WATER AND SOFT DRINKS

 

Principal Activity                      Importation, wholesale and distribution of fruit juice products.

 

 

Additional Information

 

CCJ's                                       0 (£0)

 

No CCJ Information To Display

 

Ultimate Holding Company                  COBELL INTERNATIONAL LIMITED

 

Accountant                                           -

 

Mortgages                                            3

 

Trade Debtors                                      -

 

Group                                                  3 companies

 

Linkages                                              0 companies

 

Countries                                             In 0 countries

 

 

Key Financials

 

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

31/03/2017        £49,535,516      £1,107,583                    £4,360,507                                55

31/03/2016        £38,297,799      £245,784                       £3,441,014                                53

31/03/2015        £39,822,443      £874,209                       £3,248,247                                48

 

 

Mortgage Summary

 

Total Mortgage             3

Outstanding                 0

Satisfied                       3

 

 

Trade Debtors / Bad Debt Summary

 

Total Number of Documented Trade                 2

Total Value of Documented Trade                    £13,626

 

 

Commentary

 

This company has been treated as a Large company in respect of the rating/limit generated.

This company's return on total assets employed ratio indicates a highly efficient use of assets.

This company has only made late payments on a low percentage of invoices.

This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.

This company's bank loans and overdrafts (less cash) account for a high percentage of short term liabilities.

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 -

-

 

 

Current Directors

 

Title

Mr

Function

Director

Name

Heinrich Friedrich Ludwig Schaper

Nationality

German

Date of Birth

06/1956

Present Appointments

1

Latest Address

Symrise Limited Thames Industrial Estate, Fieldhouse Lane, Marlow, Buckinghamshire

Appointment Date

01/07/2017

Post Code

SL7 1TB

Title

Mr

Function

Director

Name

Nicholas Russell

Nationality

British

Date of Birth

10/1963

Present Appointments

3

Latest Address

C/o Symrise Limited Thames Industrial Estate, Fieldhouse Lane, Marlow, Buckinghamshire

Appointment Date

01/07/2017

Post Code

SL7 1TB

 

 

Current Company Secretary

 

Top Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

COBELL INTERNATIONAL LTD

GBP

500,000

ORDINARY A

1

99.98

COBELL INTERNATIONAL LTD

GBP

100

ORDINARY B

1

0.02

 

 

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

£49,535,516

29.3%

£38,297,799

-3.8%

£39,822,443

-10.6%

£44,521,621

22.7%

£36,283,063

Export

£11,281,915

11.5%

£10,121,435

6.3%

£9,521,835

-32.4%

£14,094,331

62.2%

£8,687,796

Cost of Sales

£44,435,688

29.7%

£34,271,809

-1%

£34,623,464

-13.1%

£39,839,202

21.7%

£32,738,050

Gross Profit

£5,099,828

26.7%

£4,025,990

-22.6%

£5,198,979

11%

£4,682,419

32.1%

£3,545,013

Wages & Salaries

£2,036,820

11.2%

£1,831,758

6%

£1,728,437

27.2%

£1,358,989

31.8%

£1,030,795

Directors Emoluments

£1,032,000

-

£1,032,000

-

£1,032,000

4.5%

£987,500

17.6%

£840,000

Operating Profit

£1,256,246

257.9%

£351,028

-65.8%

£1,025,988

-10.1%

£1,141,722

170.4%

£422,295

Depreciation

£217,076

18.9%

£182,614

21.6%

£150,191

33.6%

£112,452

-18.8%

£138,526

Audit Fees

£16,575

-7.9%

£18,000

49.3%

£12,060

-24.1%

£15,888

2.5%

£15,500

Interest Payments

£148,663

41.3%

£105,244

-30.7%

£151,779

-3.6%

£157,511

-16.1%

£187,743

Pre Tax Profit

£1,107,583

350.6%

£245,784

-71.9%

£874,209

-11.2%

£984,211

319.6%

£234,552

Taxation

-£188,090

-254.8%

-£53,017

73.5%

-£199,985

18.8%

-£246,341

-779%

£36,281

Profit After Tax

£919,493

377%

£192,767

-71.4%

£674,224

-8.6%

£737,870

172.4%

£270,833

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

£919,493

377%

£192,767

-71.4%

£674,224

-8.6%

£737,870

172.4%

£270,833

 

 

Balance Sheet

 

Date Of Accounts

31/03/17

(%)

31/03/16

(%)

31/03/15

(%)

31/03/14

(%)

31/03/13

Tangible Assets

£845,738

-9.8%

£937,117

-3.4%

£969,699

61.5%

£600,292

15.9%

£517,902

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£845,738

-9.8%

£937,117

-3.4%

£969,699

61.5%

£600,292

15.9%

£517,902

Stock

£4,755,430

21.2%

£3,922,613

23.1%

£3,186,629

-13.8%

£3,698,206

-0.9%

£3,731,082

Trade Debtors

£8,025,819

939.9%

£771,819

-86.8%

£5,830,749

-16.1%

£6,953,416

-5.3%

£7,339,567

Cash

£12,903

-

0

-100%

£41,966

-18.3%

£51,387

-55.5%

£115,543

Other Debtors

£705,159

-91.1%

£7,963,863

646.7%

£1,066,579

3.3%

£1,032,358

2.7%

£1,005,336

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£13,499,311

6.6%

£12,658,295

25%

£10,125,923

-13.7%

£11,735,367

-3.7%

£12,191,528

Trade Creditors

£5,476,834

5.3%

£5,201,336

32.4%

£3,928,327

-16.9%

£4,727,819

-35.3%

£7,305,000

Bank Loans & Overdrafts

£2,915,543

-12.1%

£3,318,337

34.3%

£2,470,240

-26.4%

£3,354,898

56.7%

£2,140,861

Other Short Term Finance

£132,266

1.3%

£130,538

34.1%

£97,323

-56.3%

£222,703

30.5%

£170,688

Miscellaneous Current Liabilities

£1,338,632

7.7%

£1,242,884

7.3%

£1,157,967

-18.2%

£1,415,678

25.8%

£1,125,693

Total Current Liabilities

£9,863,275

-0.3%

£9,893,095

29.3%

£7,653,857

-21.3%

£9,721,098

-9.5%

£10,742,242

Bank Loans & Overdrafts and LTL

£3,036,810

-15.2%

£3,579,640

34.4%

£2,663,758

-21.5%

£3,395,436

49.5%

£2,271,896

Other Long Term Finance

£15,561

-89.5%

£147,827

144.4%

£60,491

-

0

-100%

£97,778

Total Long Term Liabilities

£121,267

-53.6%

£261,303

35%

£193,518

377.4%

£40,538

-69.1%

£131,035

 

 

Capital & Reserves

 

Date Of Accounts

31/03/17

(%)

31/03/16

(%)

31/03/15

(%)

31/03/14

(%)

31/03/13

Called Up Share Capital

£500,100

-

£500,100

-

£500,100

-

£500,100

-

£500,100

P & L Account Reserve

£3,860,407

31.3%

£2,940,914

7%

£2,748,147

32.5%

£2,073,923

55.2%

£1,336,053

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£4,360,507

26.7%

£3,441,014

5.9%

£3,248,247

26.2%

£2,574,023

40.2%

£1,836,153

 

Other Financial Items

 

Date Of Accounts

31/03/17

(%)

31/03/16

(%)

31/03/15

(%)

31/03/14

(%)

31/03/13

Net Worth

£4,360,507

26.7%

£3,441,014

5.9%

£3,248,247

26.2%

£2,574,023

40.2%

£1,836,153

Working Capital

£3,636,036

31.5%

£2,765,200

11.9%

£2,472,066

22.7%

£2,014,269

39%

£1,449,286

Total Assets

£14,345,049

5.5%

£13,595,412

22.5%

£11,095,622

-10.1%

£12,335,659

-2.9%

£12,709,430

Total Liabilities

£9,984,542

-1.7%

£10,154,398

29.4%

£7,847,375

-19.6%

£9,761,636

-10.2%

£10,873,277

Net Assets

£4,360,507

26.7%

£3,441,014

5.9%

£3,248,247

26.2%

£2,574,023

40.2%

£1,836,153

 

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

£4,481,774

21.1%

£3,702,317

7.6%

£3,441,765

31.6%

£2,614,561

32.9%

£1,967,188

Number of Employees

55

3.8%

53

10.4%

48

20%

40

11.1%

36

Accountants

Auditors

KPMG LLP

Auditor Comments

The audit report contains no adverse comments

Bankers

THE ROYAL BANK OF SCOTLAND PLC

Bank Branch Code

16-19-25

 

Ratios

 

Date Of Accounts

31/03/17

31/03/16

31/03/15

31/03/14

31/03/13

Pre-tax profit margin %

2.24

0.64

2.20

2.21

0.65

Current ratio

1.37

1.28

1.32

1.21

1.13

Sales/Net Working Capital

13.62

13.85

16.11

22.10

25.04

Gearing %

69.60

104

82

131.90

123.70

Equity in %

30.40

25.30

29.30

20.90

14.40

Creditor Days

40.24

49.43

35.90

38.65

73.28

Debtor Days

58.97

7.33

53.29

56.84

73.63

Liquidity/Acid Test

0.88

0.88

0.90

0.82

0.78

Return On Capital Employed %

24.71

6.63

25.40

37.64

11.92

Return On Total Assets Employed %

7.72

1.80

7.87

7.97

1.84

Current Debt Ratio

2.26

2.87

2.35

3.77

5.85

Total Debt Ratio

2.28

2.95

2.41

3.79

5.92

Stock Turnover Ratio %

9.60

10.24

8

8.30

10.28

Return on Net Assets Employed %

25.40

7.14

26.91

38.23

12.77

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

12/12/2017

Payment Data Update Received

23/11/2017

Payment Data Update Received

10/11/2017

Payment Data Update Received

27/10/2017

Payment Data Update Received

04/10/2017

Payment Data Update Received

03/10/2017

New Accounts Filed

03/10/2017

New Accounts Filed

17/07/2017

Mr R.J. Parsons has left the board

17/07/2017

Mr G.D. Milne has left the board

17/07/2017

Ms A.S. Sprague has resigned as company secretary

17/07/2017

Mr I.C. Taylor has left the board

17/07/2017

Mr D.M. Pearce has left the board

17/07/2017

Mr G.P. Holland has left the board

 

 

Previous Company Names

 

No Previous Names found

 

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

3 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

COBELL INTERNATIONAL LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

COBELL INTERNATIONAL LIMITED

 

Group StructureFull

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

 COBELL INTERNATIONAL LIM...

 

06543226

31.03.2017

Y

£49,542,190

 FRUT DRINKS LIMITED

 

09464609

31.03.2017

N

£6,674

 COBELL LTD

 

03876527

31.03.2017

N

£49,535,516

 

 

Mortgage Details

 

Mortgage Type:

DEBENTURE

Date Charge Created:

19/12/05

Date Charge Registered:

23/12/05

Date Charge Satisfied:

13/09/17

Status:

SATISFIED

Person(s) Entitled:

NATIONAL WESTMINSTER BANK PLC;

Amount Secured:

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:

FIXED AND FLOATING CHARGE

Date Charge Created:

09/11/05

Date Charge Registered:

22/11/05

Date Charge Satisfied:

13/09/17

Status:

SATISFIED

Person(s) Entitled:

THE ROYAL BANK OF SCOTLAND COMMERCIAL SERVICES LIMITED;

Amount Secured:

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 MACHINERYSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:

DEBENTURE

Date Charge Created:

08/02/00

Date Charge Registered:

17/02/00

Date Charge Satisfied:

23/06/07

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 SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

 

Creditor Details

 

Total Number

Total Value

Trade Creditors

0

-

No Creditor Data

 

 

Trade Debtors / Bad Debt Detail

 

Total Number of Documented Trade

Total Value of Documented Trade

Trade Debtors

2

£13,626

Company Name

Amount

Statement Date

Gold Star Soft Drinks Limited

£12,561

12/01/2010

Kealth Foods (UK) Ltd

£1,065

11/03/2016

 

 

Previous Director/Company Secretaries

 

Name

Current Active Appointments

Previous Appointments

Dissolved Companies

Alison Sarah Sprague

0

2

5

Alison Sarah Sprague

0

2

5

Nicholas Simon Sprague

5

4

11

Gary Peter Wyman

0

1

0

Graham Paget Holland

4

3

2

David Michael Pearce

5

5

11

Nicola Jane Pearce

0

1

2

Ian Charles Taylor

2

2

4

FORM 10 DIRECTORS FD LTD

0

9971

42757

FORM 10 SECRETARIES FD LTD

0

9961

42729

Alison Sarah Sprague

0

1

0

David George Smith

10

13

24

Robert John Parsons

0

7

0

Andrew Clark

3

3

0

Gordon Douglas Milne

1

2

1

Total Persons With Significant Control

1

Total Statements

0

Active

1

Active

0

Ceased

0

Ceased

0

 

 

Active Persons With Significant Control

 

Name

Cobell International Limited

Kind

Corporate Entity With Significant Control

Address

The Juice House 1 Leigham Business, Silverton Road, Exeter, Devon

Notified On

06/04/2016

Post Code

EX2 8HY

Legal Form

Private Limited Company

Authority

Companies Act

Place Registered

England & Wales

Country Registered

England

Registration Number

6543226

Nature Of Control

Ownership of shares - above 75%

 

 

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

Average Invoice Value

£2641.60

Invoices available

136

Paid

129

Outstanding

7

 

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

71

48

8

2

0

Outstanding

3

1

3

0

0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.36

UK Pound

1

INR 89.71

Euro

1

INR 78.89

GBP

1

INR 0.016

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

Report Prepared by :

DNS

 

 

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.