|
|
|
MIRA INFORM REPORT
|
Report No. : |
492031 |
|
Report Date : |
14.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PREMIER
METAL RECYCLERS LIMITED |
|
|
|
|
Registered Office : |
The Metal
Works Union Road, Oldbury, West Midlands, B69 3ex |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.03.2017
|
|
|
|
|
Date of Incorporation : |
23.11.2007
|
|
|
|
|
Com. Reg. No.: |
06435352
|
|
|
|
|
Legal Form : |
Private
limited with Share Capital |
|
|
|
|
Line of Business : |
·
Recovery of sorted materials ·
Metal merchants and processors. |
|
|
|
|
No. of Employees : |
1 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
NB |
|
Credit Rating |
Explanation |
Rating Comments |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
Status : |
New Business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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: PREMIER METAL RECYCLERS
LIMITED
Company
No: 06435352
Company
Status: Active - Accounts
Filed
Status Active
Registered
Address: THE METAL WORKS UNION
ROADOLDBURYWEST MIDLANDSB69 3EX
Company Name
PREMIER
METAL RECYCLERS LIMITED
Company Number
06435352
Company Summary
Registered Address THE METAL WORKS UNION ROAD
OLDBURY
WEST MIDLANDS
B69 3EX
Trading Address The Metal Works Union Road
Oldbury
West Midlands
B69 3EX
Website
Address http://www.premiermetalrecyclers.co.uk
Telephone
Number 01215148000
Fax
Number
TPS No
FPS Yes
Incorporation
Date 23/11/2007
Previous
Name
Type Private limited with Share Capital
FTSE
Index -
Date of
Change -
Filing
Date of Accounts 22/12/2017
Currency GBP
Share
Capital £10
SIC07 38320
Charity
Number -
SIC07
Description RECOVERY OF SORTED MATERIALS
Principal
Activity Metal merchants and processors.
Additional Information
CCJ's 0 (£0)
No CCJ Information To Display
Ultimate
Holding Company H.L.THORNE & CO.LIMITED
Accountant
J W HINKS LLP
Mortgages
0
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
- -
-£460,603 1
31/03/2016
- -
-£17,683 1
31/03/2015
£29,660,780 £18,088 £35,796
1
Mortgage Summary
Total
Mortgage 0
Outstanding 0
Satisfied 0
Trade Debtors / Bad Debt
Summary
Total
Number of Documented Trade 0
Total
Value of Documented Trade £0
Commentary
|
The
latest Balance Sheet indicates a negative net working capital position. |
|
The
negative debt/equity ratio indicates a Balance Sheet deficiency funded by
creditors/debt. |
|
There
has been a reduction in shareholders funds compared with the previous balance
sheet. |
|
The
Board of Directors have reduced in size over the last six months. |
|
This
company trades in an industry with a higher 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 |
1 |
Total
Current Secretaries |
1 |
|
Total
Previous Directors / Company Secretaries |
5 |
Total
Person's With Significant Control |
1 |
Current Directors
|
Title |
Mr |
Function |
Director |
|
Name |
Malcolm
Roger Thorne |
Nationality |
British |
|
Date of
Birth |
10/1955 |
Present
Appointments |
5 |
|
Latest
Address |
The
Metal Works Union Road, Oldbury, West Midlands |
Appointment
Date |
13/03/2008 |
|
Post
Code |
B69 3EX |
||
Current Company Secretary
|
Title |
Mrs |
Function |
Company
Secretary |
|
Name |
Paula
Marie Powell |
Nationality |
|
|
Date of
Birth |
- |
Present
Appointments |
1 |
|
Latest
Address |
The Metal
Works Union Road, Oldbury, West Midlands |
Appointment
Date |
01/01/2016 |
|
Post
Code |
B69 3EX |
Top Shareholders
|
Name |
Currency |
Share
Count |
Share
Type |
Nominal
Value |
% of
Total Share Count |
|
|
H.L.
THORNE & CO. LTD |
GBP |
900 |
ORDINARY
|
0.01 |
90 |
|
|
GEORGE
EDWARD THORNE |
GBP |
50 |
ORDINARY
|
0.01 |
5 |
|
|
JAMES
HARRY THORNE |
GBP |
50 |
ORDINARY
|
0.01 |
5 |
|
|
|
||||||
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 |
- |
- |
- |
- |
£29,660,780 |
14.3% |
£25,952,596 |
-22.8% |
£33,621,676 |
|
|
Export |
- |
- |
- |
- |
£16,388,289 |
41.4% |
£11,593,951 |
-25.9% |
£15,656,462 |
|
|
Cost of
Sales |
- |
- |
- |
-100% |
£28,887,427 |
14.6% |
£25,210,082 |
-23.3% |
£32,850,027 |
|
|
Gross
Profit |
- |
- |
- |
- |
£773,353 |
4.2% |
£742,514 |
-3.8% |
£771,649 |
|
|
Wages
& Salaries |
- |
- |
- |
- |
£258,234 |
20.2% |
£214,772 |
-7.3% |
£231,754 |
|
|
Directors
Emoluments |
- |
- |
- |
- |
£149,785 |
-0.2% |
£150,081 |
14.5% |
£131,088 |
|
|
Operating
Profit |
- |
- |
- |
- |
£90,482 |
34.3% |
£67,388 |
-77.7% |
£301,765 |
|
|
Depreciation |
- |
- |
- |
- |
- |
- |
- |
-100% |
£159 |
|
|
Audit
Fees |
- |
- |
- |
-100% |
£6,000 |
- |
£6,000 |
- |
£6,000 |
|
|
Interest
Payments |
- |
- |
- |
- |
£72,394 |
17.3% |
£61,696 |
-5.7% |
£65,424 |
|
|
Pre Tax
Profit |
- |
- |
- |
- |
£18,088 |
217.8% |
£5,692 |
-97.6% |
£236,341 |
|
|
Taxation |
- |
- |
- |
- |
-£3,766 |
-187.7% |
-£1,309 |
97.4% |
-£50,573 |
|
|
Profit
After Tax |
- |
- |
- |
- |
£14,322 |
226.8% |
£4,383 |
-97.6% |
£185,768 |
|
|
Dividends
Payable |
- |
- |
- |
- |
- |
- |
- |
-100% |
£150,000 |
|
|
Retained
Profit |
- |
- |
- |
- |
£14,322 |
226.8% |
£4,383 |
-87.7% |
£35,768 |
Balance
Sheet
|
Date Of
Accounts |
31/03/17 |
(%) |
31/03/16 |
(%) |
31/03/15 |
(%) |
31/03/14 |
(%) |
31/03/13 |
|
|
|
Tangible
Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Intangible
Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total
Fixed Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Stock |
£2,297,264 |
45.4% |
£1,579,910 |
3.3% |
£1,529,681 |
25.7% |
£1,216,699 |
-50.1% |
£2,438,895 |
|
|
Trade
Debtors |
£1,496,772 |
-4.9% |
£1,573,473 |
-41.3% |
£2,678,752 |
18.8% |
£2,253,909 |
58.7% |
£1,419,861 |
|
|
Cash |
£924,092 |
60.7% |
£575,089 |
105.6% |
£279,698 |
- |
0 |
- |
0 |
|
|
Other
Debtors |
£14,084 |
-93.7% |
£224,241 |
-26.5% |
£305,207 |
7.5% |
£283,924 |
31.1% |
£216,533 |
|
|
Miscellaneous
Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total
Current Assets |
£4,732,212 |
19.7% |
£3,952,713 |
-17.5% |
£4,793,338 |
27.7% |
£3,754,532 |
-7.9% |
£4,075,289 |
|
|
Trade
Creditors |
£1,010,605 |
20.8% |
£836,896 |
-18.5% |
£1,026,671 |
102.4% |
£507,373 |
-56% |
£1,153,801 |
|
|
Bank
Loans & Overdrafts |
0 |
- |
0 |
- |
0 |
-100% |
£192,619 |
-78.4% |
£891,367 |
|
|
Other
Short Term Finance |
£3,879,423 |
25.9% |
£3,081,949 |
-15.6% |
£3,652,040 |
22.8% |
£2,974,651 |
54.5% |
£1,924,962 |
|
|
Miscellaneous
Current Liabilities |
£302,787 |
487.4% |
£51,551 |
-34.6% |
£78,831 |
34.9% |
£58,415 |
-33.7% |
£88,068 |
|
|
Total
Current Liabilities |
£5,192,815 |
30.8% |
£3,970,396 |
-16.5% |
£4,757,542 |
27.4% |
£3,733,058 |
-8% |
£4,058,198 |
|
|
Bank
Loans & Overdrafts and LTL |
0 |
- |
0 |
- |
0 |
-100% |
£192,619 |
-78.4% |
£891,367 |
|
|
Other
Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total
Long Term Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
.
Capital
& Reserves
|
Date Of
Accounts |
31/03/17 |
(%) |
31/03/16 |
(%) |
31/03/15 |
(%) |
31/03/14 |
(%) |
31/03/13 |
|
|
|
Called
Up Share Capital |
£10 |
- |
£10 |
- |
£10 |
- |
£10 |
- |
£10 |
|
|
P &
L Account Reserve |
-£460,613 |
-999.9% |
-£17,693 |
-149.4% |
£35,786 |
66.7% |
£21,464 |
25.7% |
£17,081 |
|
|
Revaluation
Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Sundry
Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Shareholder
Funds |
-£460,603 |
-999.9% |
-£17,683 |
-149.4% |
£35,796 |
66.7% |
£21,474 |
25.6% |
£17,091 |
Other
Financial Items
|
Date Of
Accounts |
31/03/17 |
(%) |
31/03/16 |
(%) |
31/03/15 |
(%) |
31/03/14 |
(%) |
31/03/13 |
|
|
|
Net
Worth |
-£460,603 |
-999.9% |
-£17,683 |
-149.4% |
£35,796 |
66.7% |
£21,474 |
25.6% |
£17,091 |
|
|
Working
Capital |
-£460,603 |
-999.9% |
-£17,683 |
-149.4% |
£35,796 |
66.7% |
£21,474 |
25.6% |
£17,091 |
|
|
Total
Assets |
£4,732,212 |
19.7% |
£3,952,713 |
-17.5% |
£4,793,338 |
27.7% |
£3,754,532 |
-7.9% |
£4,075,289 |
|
|
Total
Liabilities |
£5,192,815 |
30.8% |
£3,970,396 |
-16.5% |
£4,757,542 |
27.4% |
£3,733,058 |
-8% |
£4,058,198 |
|
|
Net
Assets |
-£460,603 |
-999.9% |
-£17,683 |
-149.4% |
£35,796 |
66.7% |
£21,474 |
25.6% |
£17,091 |
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 |
-£460,603 |
-999.9% |
-£17,683 |
-149.4% |
£35,796 |
66.7% |
£21,474 |
25.6% |
£17,091 |
|
|
Number
of Employees |
1 |
- |
1 |
- |
1 |
- |
1 |
- |
1 |
|
Accountants |
J W
HINKS LLP |
|||||||||
|
Auditors |
||||||||||
|
Auditor
Comments |
The
company is exempt from audit |
|||||||||
|
Bankers |
LLOYDS
TSB BANK PLC |
|||||||||
|
Bank
Branch Code |
30-97-58 |
|||||||||
Ratios
|
Date Of
Accounts |
31/03/17 |
31/03/16 |
31/03/15 |
31/03/14 |
31/03/13 |
|
|
|
Pre-tax
profit margin % |
- |
- |
0.06 |
0.02 |
0.70 |
|
|
Current
ratio |
0.91 |
1 |
1.01 |
1.01 |
1 |
|
|
Sales/Net
Working Capital |
- |
- |
828.61 |
1208.56 |
1967.22 |
|
|
Gearing
% |
0 |
0 |
0 |
897 |
5215.40 |
|
|
Equity
in % |
-9.70 |
-0.40 |
0.70 |
0.60 |
0.40 |
|
|
Creditor
Days |
- |
- |
12.59 |
7.11 |
12.49 |
|
|
Debtor
Days |
- |
- |
32.87 |
31.61 |
15.37 |
|
|
Liquidity/Acid
Test |
0.46 |
0.59 |
0.68 |
0.67 |
0.40 |
|
|
Return
On Capital Employed % |
- |
- |
50.53 |
26.50 |
1382.83 |
|
|
Return
On Total Assets Employed % |
- |
- |
0.37 |
0.15 |
5.79 |
|
|
Current
Debt Ratio |
-11.27 |
-224.53 |
132.90 |
173.84 |
237.44 |
|
|
Total
Debt Ratio |
-11.27 |
-224.53 |
132.90 |
173.84 |
237.44 |
|
|
Stock
Turnover Ratio % |
- |
- |
5.15 |
4.68 |
7.25 |
|
|
Return
on Net Assets Employed % |
- |
- |
50.53 |
26.50 |
1382.83 |
Report
Notes
|
There are no notes to
display. |
Status
History
|
No
Status History found |
Event History
|
Date |
Description |
|
09/01/2018 |
New
Accounts Filed |
|
09/01/2018 |
New
Accounts Filed |
|
28/11/2017 |
Confirmation
Statement |
|
31/10/2017 |
Mr R.J.
Smalley has left the board |
|
13/12/2016 |
New
Accounts Filed |
|
10/12/2016 |
Annual
Returns |
|
08/01/2016 |
Annual
Returns |
|
06/01/2016 |
Mr K.L.
Fyfe has resigned as company secretary |
|
06/01/2016 |
New Company
Secretary Mrs P.M. Powell appointed |
|
12/11/2015 |
New
Accounts Filed |
|
16/12/2014 |
New
Accounts Filed |
|
29/11/2014 |
Annual
Returns |
|
24/11/2014 |
Change
in Reg.Office |
|
24/11/2014 |
Change
of Company Postcode |
|
12/12/2013 |
New Accounts
Filed |
|
No
Previous Names found |
Writ
Details
|
No
writs found |
Statistics
|
Group |
3
companies |
|
Linkages |
0
companies |
|
Countries |
In 0
countries |
Summary
|
Holding
Company |
H.L.THORNE
& CO.LIMITED |
|
Ownership
Status |
Intermediately
Owned |
|
Ultimate
Holding Company |
H.L.THORNE
& CO.LIMITED |
Group Structure
|
Company
Name |
Registered
Number |
Latest
Key Financials |
Consol.
Accounts |
Turnover |
|
|
|
|
00555418
|
31.03.2017 |
Y |
£32,974,355
|
|
|
|
06435352
|
31.03.2017 |
N |
|
|
|
|
01035388
|
31.03.2017 |
N |
|
Group |
3
companies |
|
Linkages
|
0
companies |
|
Countries
|
In 0
countries |
Previous Director/Company
Secretaries
|
Name |
Current
Active Appointments |
Previous
Appointments |
Dissolved
Companies |
|
Kenneth
Logie Fyfe |
0 |
2 |
2 |
|
Joanna
Krystyna Smalley |
0 |
1 |
0 |
|
Richard
Jason Smalley |
0 |
2 |
0 |
|
SDG
REGISTRARS LIMITED |
7 |
2970 |
5861 |
|
SDG
SECRETARIES LIMITED |
9 |
2996 |
5930 |
|
Total
Persons With Significant Control |
1 |
Total
Statements |
0 |
|
Active |
1 |
Active |
0 |
|
Ceased |
0 |
Ceased |
0 |
Active
Persons With Significant Control
|
Name |
H.L.
Thorne & Company Limited |
Kind |
Corporate
Entity With Significant Control |
||
|
Address |
The Metal
Works Union Road, Oldbury, West Midlands |
Notified
On |
06/04/2016 |
||
|
Post
Code |
B69 3EX |
Legal
Form |
Limited
Company |
||
|
Authority |
Uk
Company Law |
Place
Registered |
England |
||
|
Country
Registered |
England |
Registration
Number |
00555418 |
||
|
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 64.28 |
|
|
1 |
INR 89.02 |
|
Euro |
1 |
INR 78.93 |
|
GBP |
1 |
INR 89.09 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
SYL |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.