MIRA INFORM REPORT

Report No. :	516317
Report Date :	23.06.2018

IDENTIFICATION DETAILS

Name :	SMITH BATESON HOLDINGS LIMITED
Registered Office :	Stronghold House Kitling Road, Knowsley Business Park Prescot L34 9HQ
Country :	United Kingdom
Financials (as on) :	31.03.2017
Date of Incorporation :	30.07.2008
Com. Reg. No.:	06659907
Legal Form :	Private limited with Share Capital
Line of Business :	· Wholesale of other intermediate products · A group engaged as a holding company and its subsidiary is the merchanting of paper and polythene.
No. of Employees :	46

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 (31.12.2017)	Current Rating (01.04.2018)
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 sand address

Company Name: SMITH BATESON HOLDINGS LIMITED

Company No: 06659907

Company Status: Active - Accounts Filed

Registered Address: STRONGHOLD HOUSE KITLING ROADKNOWSLEY BUSINESS PARKPRESCOTL34 9HQ

Company Summary

Registered Address STRONGHOLD HOUSE KITLING ROAD, KNOWSLEY BUSINESS PARK PRESCOT L34 9HQ

Trading Address Stronghold House, Kitling Road, Knowsley Business Park, Prescot, Merseyside

L34 9HQ

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

Telephone Number 01515471801

Fax Number --

TPS No

FPS Yes

Incorporation Date 30/07/2008

Previous Name --

Type Private limited with Share Capital

FTSE Index --

Date of Change --

Filing Date of Accounts 12/08/2017

Currency GBP

Share Capital £20,000

SIC07 46760

Charity Number --

SIC07 Description WHOLESALE OF OTHER INTERMEDIATE PRODUCTS

Principal Activity A group engaged as a holding company and its subsidiary is the merchanting of

paper and polythene.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company SMITH BATESON HOLDINGS LIMITED

Accountant -

Mortgages 1

Group 2 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

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

31/03/2017 £27,264,494 £826,900 £8,259,081 46

31/03/2016 £28,248,065 £1,566,710 £8,199,499 46

31/03/2015 £29,454,556 £1,047,577 £7,507,004 48

Mortgage Summary

Total Mortgage 1

Outstanding 0

Satisfied 1

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 Large company in respect of the rating/limit generated.

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

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

The company has more cash than short term bank borrowings.

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	1	Total Current Secretaries	0
Total Previous Directors / Company Secretaries	0	Total Person's With Significant Control	1

Current Directors

Title	Mr	Function	Director
Name	Stephen Vincent McKuhen	Nationality
Date of Birth	04/1961	Present Appointments	2
Latest Address	Charnwood 17 Swanpool Lane, Aughton, Ormskirk, Lancashire	Appointment Date	30/07/2008
Post Code	L39 5AX

Current Company Secretary

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
STEPHEN MCKUHEN	GBP	20,000	ORDINARY	1	100

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	Y	(%)	Y	(%)	Y	(%)	Y	(%)	Y
	Turnover	£27,264,494	-3.5%	£28,248,065	-4.1%	£29,454,556	3.6%	£28,429,416	2.5%	£27,722,644
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	£22,838,333	-1%	£23,069,152	-6.9%	£24,768,403	4.8%	£23,641,323	1.9%	£23,191,455
	Gross Profit	£4,426,161	-14.5%	£5,178,913	10.5%	£4,686,153	-2.1%	£4,788,093	5.7%	£4,531,189
	Wages & Salaries	£2,302,942	3.7%	£2,220,757	-0.2%	£2,224,221	-4.6%	£2,331,713	19.8%	£1,946,740
	Directors Emoluments	£228,210	-11.2%	£256,934	17.9%	£217,920	6.7%	£204,147	0.3%	£203,617
	Operating Profit	£835,607	-47.1%	£1,580,428	47.8%	£1,069,400	-0.1%	£1,069,988	-7.9%	£1,161,380
	Depreciation	£171,655	65.9%	£103,445	-38%	£166,738	-2.7%	£171,306	-4%	£178,448
	Audit Fees	£17,700	-14.5%	£20,700	16%	£17,850	2%	£17,500	2.6%	£17,050
	Interest Payments	£8,707	-36.5%	£13,719	-37.1%	£21,823	-58.8%	£52,984	-2.4%	£54,261
	Pre Tax Profit	£826,900	-47.2%	£1,566,710	49.6%	£1,047,577	3%	£1,017,253	-8.1%	£1,107,119
	Taxation	-£180,248	45.2%	-£328,793	-44.7%	-£227,172	5.7%	-£240,826	14.4%	-£281,250
	Profit After Tax	£646,652	-47.8%	£1,237,917	50.9%	£820,405	5.7%	£776,427	-6%	£825,869
	Dividends Payable	£600,000	-	£600,000	140%	£250,000	-	£250,000	-	-
	Retained Profit	£46,652	-92.7%	£637,917	11.8%	£570,405	8.4%	£526,427	-36.3%	£825,869

BALANCE SHEET

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Tangible Assets	£4,365,033	-0.9%	£4,406,003	-2.2%	£4,505,991	99.3%	£2,260,911	-5.3%	£2,387,369
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£4,365,033	-0.9%	£4,406,003	-2.2%	£4,505,991	99.3%	£2,260,911	-5.3%	£2,387,369
	Stock	£3,628,857	10.7%	£3,277,651	-18.9%	£4,039,657	5.1%	£3,843,519	7.3%	£3,582,068
	Trade Debtors	£4,215,583	-3.1%	£4,349,210	1.8%	£4,270,821	14.4%	£3,733,594	-16.8%	£4,488,333
	Cash	£1,537,696	98.1%	£776,392	114.1%	£362,562	-14.3%	£422,856	999.9%	£11,466
	Other Debtors	£58,866	107.9%	£28,308	723.6%	£3,437	-	£3,437	-	£3,437
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£9,441,002	12%	£8,431,561	-2.8%	£8,676,477	8.4%	£8,003,406	-1%	£8,085,304
	Trade Creditors	£3,884,895	38.2%	£2,812,006	-23.8%	£3,691,153	10.6%	£3,336,745	3.5%	£3,224,456
	Bank Loans & Overdrafts	£345,653	-	0	-100%	£608,263	45.6%	£417,809	-37.4%	£667,597
	Other Short Term Finance	£85,166	419.7%	£16,388	-	0	-100%	£28,776	-72.5%	£104,717
	Miscellaneous Current Liabilities	£742,602	-43%	£1,302,194	56.4%	£832,373	-26%	£1,124,526	15.7%	£972,013
	Total Current Liabilities	£5,058,316	22.5%	£4,130,588	-19.5%	£5,131,789	4.6%	£4,907,856	-1.2%	£4,968,783
	Bank Loans & Overdrafts and LTL	£834,291	64.4%	£507,477	-55.9%	£1,151,938	56.3%	£737,218	-55.6%	£1,660,862
	Other Long Term Finance	£27,092	-13.3%	£31,250	-	0	-	0	-100%	£39,607
	Total Long Term Liabilities	£488,638	-3.7%	£507,477	-6.7%	£543,675	70.2%	£319,409	-67.8%	£993,265

CAPITAL & RESERVES

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Called Up Share Capital	£20,000	-	£20,000	-	£20,000	-	£20,000	-	£20,000
	P & L Account Reserve	£6,220,111	-0.2%	£6,234,764	12.2%	£5,557,457	11.4%	£4,987,052	11.8%	£4,460,625
	Revaluation Reserve	£1,988,970	3.9%	£1,914,735	0.8%	£1,899,547	-	-	-	-
	Sundry Reserves	£30,000	-	£30,000	-	£30,000	-	£30,000	-	£30,000
	Shareholder Funds	£8,259,081	0.7%	£8,199,499	9.2%	£7,507,004	49%	£5,037,052	11.7%	£4,510,625

OTHER FINANCIAL ITEMS

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Net Worth	£8,259,081	0.7%	£8,199,499	9.2%	£7,507,004	49%	£5,037,052	11.7%	£4,510,625
	Working Capital	£4,382,686	1.9%	£4,300,973	21.3%	£3,544,688	14.5%	£3,095,550	-0.7%	£3,116,521
	Total Assets	£13,806,035	7.5%	£12,837,564	-2.6%	£13,182,468	28.4%	£10,264,317	-2%	£10,472,673
	Total Liabilities	£5,546,954	19.6%	£4,638,065	-18.3%	£5,675,464	8.6%	£5,227,265	-12.3%	£5,962,048
	Net Assets	£8,259,081	0.7%	£8,199,499	9.2%	£7,507,004	49%	£5,037,052	11.7%	£4,510,625

CASH FLOW

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Net Cashflow from Operations	£1,311,590	-6.6%	£1,404,620	145.7%	£571,688	-71.5%	£2,004,878	124.9%	£891,409
	Net Cashflow before Financing	£709,060	-9.5%	£783,150	999.9%	£18,944	-98.6%	£1,347,969	176.4%	£487,693
	Net Cashflow from Financing	-£328,450	-999.9%	-£3,601	98.9%	-£321,830	52.8%	-£681,773	-92.2%	-£354,737
	Increase in Cash	£380,610	-51.2%	£779,549	357.4%	-£302,886	-145.5%	£666,196	401.1%	£132,956

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	-	YES
	Capital Employed	£8,747,719	0.5%	£8,706,976	8.2%	£8,050,679	50.3%	£5,356,461	-2.7%	£5,503,890
	Number of Employees	46	-	46	-4.2%	48	-2%	49	-2%	50
	Accountants
	Auditors	RSM UK AUDIT LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers	NATIONAL WESTMINSTER BANK PLC
	Bank Branch Code	60-13-19

RATIOS

	Date Of Accounts	31/03/17	31/03/16	31/03/15	31/03/14	31/03/13
	Pre-tax profit margin %	3.03	5.55	3.56	3.58	3.99
	Current ratio	1.87	2.04	1.69	1.63	1.63
	Sales/Net Working Capital	6.22	6.57	8.31	9.18	8.90
	Gearing %	10.10	6.20	15.30	14.60	36.80
	Equity in %	59.80	63.90	56.90	49.10	43.10
	Creditor Days	51.86	36.23	45.61	42.72	42.33
	Debtor Days	56.28	56.04	52.77	47.80	58.93
	Liquidity/Acid Test	1.14	1.24	0.90	0.84	0.90
	Return On Capital Employed %	9.45	17.99	13.01	18.99	20.11
	Return On Total Assets Employed %	5.98	12.20	7.94	9.91	10.57
	Current Debt Ratio	0.61	0.50	0.68	0.97	1.10
	Total Debt Ratio	0.67	0.56	0.75	1.03	1.32
	Stock Turnover Ratio %	13.30	11.60	13.71	13.51	12.92
	Return on Net Assets Employed %	10.01	19.10	13.95	20.19	24.54

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
07/09/2017	Confirmation Statement
22/08/2017	New Accounts Filed
22/08/2017	New Accounts Filed
13/09/2016	Annual Returns
11/08/2016	New Accounts Filed
11/08/2016	New Accounts Filed
03/09/2015	New Accounts Filed
03/09/2015	New Accounts Filed
07/08/2015	Annual Returns
07/10/2014	New Accounts Filed
07/10/2014	New Accounts Filed
04/08/2014	Annual Returns
12/08/2013	Annual Returns
12/08/2013	New Accounts Filed
12/08/2013	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	SMITH BATESON HOLDINGS LIMITED
Ownership Status	Ultimately Owned
Ultimate Holding Company	SMITH BATESON HOLDINGS LIMITED

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
SMITH BATESON HOLDINGS L...	06659907	31.03.2017	Y	£27,264,494
SMITH & BATESON LIMITED,	00523345	31.03.2017	N	£27,264,494

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Mortgage Details

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	16/12/08
Date Charge Registered:	18/12/08
Date Charge Satisfied:	21/03/16
Status:	SATISFIED
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC;
Amount Secured:
Details:	LAND ON THE SOUTH SIDE OF KITLING ROAD KNOWSLEY INDUSTRIAL PARK KNOWSLEY T/N MS434041 BY WAY OF FIXED CHARGE, THE BENEFIT OF ALL COVENANTS & RIGHTS CONCERNING THE PROPERTY & ALL PLANT MACHINERY, FIXTURES, FITTINGS, FURNITURE, EQUIPMENT, IMPLEMENTS & UTENSILS. THE GOODWILL OF ANYBUSINESS CARRIED ON AT THE PROPERTY & THE PROCEEDS OF ANY INSURANCE AFFECTING THE PROPERTY OR ASSETS

Previous Director/Company Secretaries

No Previous Director Details
Total Persons With Significant Control	1	Total Statements	0
Active	1	Active	0
Ceased	0	Ceased	0

Active Persons With Significant Control

Name	Mr Stephen Vincent Mckuhen	Kind	Individual Person With Significant Control
Address	17 Swanpool Lane, Aughton, Ormskirk	Country Of Residence	England
Post Code	L39 5AX	Nationality	British
Date of Birth	04/1961	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,Significant Influence Or Control

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	n/a
Invoices available	n/a
Paid	n/a
Outstanding	n/a

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
Outstanding

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.77
UK Pound	1	INR 89.96
Euro	1	INR 78.86
GBP	1	INR 90.04

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

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	NIT

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.