MIRA INFORM REPORT

Report No. :	495617
Report Date :	07.03.2018

IDENTIFICATION DETAILS

Name :	BIRMINGHAM SEALS COMPANY LIMITED
Formerly Known As :	BIRMINGHAM SEALS LIMITED
Registered Office :	Unit 31 Regal Drive, Walsall Enterprise Park, Wednesbury Road, WS2 9HQ
Country :	United Kingdom
Financials (as on) :	31.01.2017
Date of Incorporation :	14.08.1998
Com. Reg. No.:	03615681
Legal Form :	Private Limited with Share Capital
Line of Business :	Non-Specialized Wholesale Trade
No. of Employees :	19

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 :	Good
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 Summary

Registered Address

Unit 31 Regal Drive
Walsall Enterprise Park
Wednesbury Road
WS2 9HQ

Trading Address

31 Regal Drive
Walsall Enterprise Park
Wednesbury Road
Walsall, West Midlands
WS2 9HQ

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

Company Number 03615681

Telephone Number 08454501585

Fax Number -

TPS No

FPS Yes

Incorporation Date 14/08/1998

Previous Name BIRMINGHAM SEALS LIMITED

Type Private Limited with Share Capital

FTSE Index -

Date of Change 16/10/1998

Filing Date of Accounts 01/06/2017

Currency GBP

Share Capital £3,750

SIC07 46900

Charity Number -

SIC07 Description Non-specialized wholesale trade

Principal Activity Wholesale.

Additional Information

CCJ's

0 (£0)

No CCJ Information To Display

Ultimate Holding Company ANTCLAIRE LIMITED

Accountant LDP LUCKMANS

Mortgages 4

Trade Debtors -

Group 3 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
31.01.2017	-	-	£924,942	19
31.01.2016	-	-	£1,865,084	19
31.01.2015	-	-	£1,670,569	-

Mortgage summary

Total Mortgage 4

Outstanding 3

Satisfied 1

Trade debtors / bad debt summary

Total Number of Documented Trade 1

Total Value of Documented Trade £829

Commentary

This company has been treated as a Small company enerated.

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

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 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	2	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	7	Total Person's With Significant Control	2

Current Directors

Title	Mr	Function	Director
Name	Antony Maurice Brown	Nationality	British
Date of Birth	05/1970	Present Appointments	3
Latest Address	1 Regina Drive, Walsall, West Midlands	Appointment Date	06/05/2002
Post Code	WS4 2HB
Title	Mrs	Function	Director
Name	Claire Brown	Nationality	British
Date of Birth	06/1970	Present Appointments	3
Latest Address	1 Regina Drive, Walsall, West Midlands	Appointment Date	03/05/2013
Post Code	WS4 2HB

Current Company Secretary

Title	Mrs	Function	Company Secretary
Name	Claire Brown	Nationality
Date of Birth	-	Present Appointments	1
Latest Address	1 Regina Drive, Walsall, West Midlands	Appointment Date	03/08/2015
Post Code	WS4 2HB

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
STUANT LTD	GBP	3,750	ORDINARY	1	100

Profit & Loss

	Date Of Accounts	31/01/17	(%)	31/01/16	(%)	31/01/15	(%)	31/01/14	(%)	31/01/13
	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	£23,321	-29.7%	£33,188	16.4%	£28,507	51.5%	£18,814	69.5%	£11,098
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/01/17	(%)	31/01/16	(%)	31/01/15	(%)	31/01/14	(%)	31/01/13
	Tangible Assets	£54,291	-28.7%	£76,109	-24.1%	£100,250	16.9%	£85,746	78.6%	£48,007
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£54,291	-28.7%	£76,109	-24.1%	£100,250	16.9%	£85,746	78.6%	£48,007
	Stock	£339,769	-11.8%	£385,317	-1.9%	£392,824	0.7%	£390,085	1%	£386,151
	Trade Debtors	£417,124	-17%	£502,365	-64.5%	£1,415,979	6.7%	£1,326,632	229.9%	£402,096
	Cash	£185,308	63.1%	£113,638	-65.1%	£326,043	32.5%	£246,093	-61.6%	£640,776
	Other Debtors	£687,927	-58.1%	£1,643,315	-	0	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£1,630,128	-38.4%	£2,644,635	23.9%	£2,134,846	8.8%	£1,962,810	37.4%	£1,429,023
	Trade Creditors	£287,332	-17.1%	£346,401	-36.1%	£542,036	-8%	£589,020	31.4%	£448,332
	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
	Other Short Term Finance	£3,135	-71.3%	£10,914	-	0	-	0	-	0
	Miscellaneous Current Liabilities	£449,497	-8%	£488,785	-	0	-	0	-	0
	Total Current Liabilities	£739,964	-12.5%	£846,100	56.1%	£542,036	-8%	£589,020	31.4%	£448,332
	Bank Loans & Overdrafts and LTL	£19,513	104.1%	£9,560	-57.5%	£22,491	-87.3%	£177,616	999.9%	£8,483
	Other Long Term Finance	£10,550	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£19,513	104.1%	£9,560	-57.5%	£22,491	-87.3%	£177,616	999.9%	£8,483

Capital & Reserves

	Date Of Accounts	31/01/17	(%)	31/01/16	(%)	31/01/15	(%)	31/01/14	(%)	31/01/13
	Called Up Share Capital	£3,750	-	£3,750	-	£3,750	-	£3,750	-	£3,750
	P & L Account Reserve	£921,192	-50.5%	£1,861,334	11.7%	£1,666,819	30.4%	£1,278,170	25.7%	£1,016,465
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£924,942	-50.4%	£1,865,084	11.6%	£1,670,569	30.3%	£1,281,920	25.7%	£1,020,215

Other Financial Items

	Date Of Accounts	31/01/17	(%)	31/01/16	(%)	31/01/15	(%)	31/01/14	(%)	31/01/13
	Net Worth	£924,942	-50.4%	£1,865,084	11.6%	£1,670,569	30.3%	£1,281,920	25.7%	£1,020,215
	Working Capital	£890,164	-50.5%	£1,798,535	12.9%	£1,592,810	15.9%	£1,373,790	40.1%	£980,691
	Total Assets	£1,684,419	-38.1%	£2,720,744	21.7%	£2,235,096	9.1%	£2,048,556	38.7%	£1,477,030
	Total Liabilities	£759,477	-11.2%	£855,660	51.6%	£564,527	-26.4%	£766,636	67.8%	£456,815
	Net Assets	£924,942	-50.4%	£1,865,084	11.6%	£1,670,569	30.3%	£1,281,920	25.7%	£1,020,215

Cash Flow

	Date Of Accounts	31/01/17	(%)	31/01/16	(%)	31/01/15	(%)	31/01/14	(%)	31/01/13
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	31/01/17	(%)	31/01/16	(%)	31/01/15	(%)	31/01/14	(%)	31/01/13
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£944,455	-49.6%	£1,874,644	10.7%	£1,693,060	16%	£1,459,536	41.9%	£1,028,698
	Number of Employees	19	-	19	-	-	-	-	-	-
	Accountants	LDP LUCKMANS
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/01/17	31/01/16	31/01/15	31/01/14	31/01/13
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	2.20	3.13	3.94	3.33	3.19
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	2.10	0.50	1.30	13.90	0.80
	Equity in %	54.90	68.60	74.70	62.60	69.10
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	1.74	2.67	3.21	2.67	2.32
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	0.80	0.45	0.32	0.45	0.43
	Total Debt Ratio	0.82	0.45	0.33	0.59	0.44
	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
17/08/2017	Confirmation Statement
05/06/2017	New Accounts Filed
05/06/2017	New Accounts Filed
28/12/2016	Payment Data Update Received
04/12/2016	Payment Data Update Received
09/10/2016	New Accounts Filed
20/08/2016	Annual Returns
28/04/2016	New Company Secretary Mrs C. Brown appointed
03/02/2016	Mr D.R. Mace has left the board
25/08/2015	Mr S.E. Whitehouse has resigned as company secretary
25/08/2015	Mr S.E. Whitehouse has left the board
19/08/2015	Annual Returns
08/08/2015	New Accounts Filed
07/07/2015	Payment Data Update Received
19/08/2014	Annual Returns

Previous Company Names

Date	Previous Name
16/10/1998	BIRMINGHAM SEALS LIMITED

Writ Details

No writs found

Statistics

Group	3 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	STUANT LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	ANTCLAIRE LIMITED

Group StructureFull

Company Name	Registered Number	Latest Key Financials	Consol. Accounts
ANTCLAIRE LIMITED	09643640	31.01.2017	N
STUANT LIMITED	08404172	31.01.2017	N
BIRMINGHAM SEALS COM...	03615681	31.01.2017	N

Mortgage Details

Mortgage Type:
Date Charge Created:	03/08/15
Date Charge Registered:	05/08/15
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	STUART WHITEHOUSE;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.
Mortgage Type:
Date Charge Created:	29/07/15
Date Charge Registered:	03/08/15
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LLOYDS BANK COMMERCIAL FINANCE LTD;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

Mortgage Type:
Date Charge Created:	01/12/14
Date Charge Registered:	12/12/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BANK OF SCOTLAND PLC;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.
Mortgage Type:	DEBENTURE CONTAINING FIXED AND FLOATINGCHARGES
Date Charge Created:	10/11/98
Date Charge Registered:	12/11/98
Date Charge Satisfied:	26/11/11
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND
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

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	1	£829
Company Name		Amount	Statement Date
Tomlin Hydraulics And Engineering Company Limited		£829	02/11/2009

Previous Director/Company Secretaries

Name	Current Active Appointments			Previous Appointments	Dissolved Companies
Frederick Charles Wilson Whitehouse	0			2	2
Stephen Paul Ward	0			4	5
Derek Ralph Mace	0			1	1
Stuart Eric James Whitehouse	2			5	4
Stuart Eric James Whitehouse	2			5	4
EXPRESS DIRECTORS LIMITED	0			202	910
EXPRESS SECRETARIES LIMITED	0			202	911
Total Persons With Significant Control		2	Total Statements			0
Active		2	Active			0
Ceased		0	Ceased			0

Active Persons With Significant Control

Name	Mr Antony Maurice Brown	Kind	Individual Person With Significant Control
Address	1 Regina Drive, Walsall, West Midlands	Country Of Residence	England
Post Code	WS4 2HB	Nationality	British
Date of Birth	05/1970	Notified On	01/08/2016
Nature Of Control	Ownership Of Shares 25 To 50 Percent,Voting Rights 25 To 50 Percent
Name	Mrs Claire Brown	Kind	Individual Person With Significant Control
Address	1 Regina Drive, Walsall, West Midlands	Country Of Residence	England
Post Code	WS4 2HB	Nationality	British
Date of Birth	06/1970	Notified On	01/08/2016
Nature Of Control	Ownership Of Shares 25 To 50 Percent,Voting Rights 25 To 50 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 64.99
UK Pound	1	INR 89.91
Euro	1	INR 80.21
GBP	1	INR 90.25

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

INFORMATION DETAILS

Analysis Done by :	VIV
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.