|
|
|
MIRA INFORM REPORT
|
Report No. : |
504243 |
|
Report Date : |
02.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
CLEAR EDGE - UK LTD |
|
|
|
|
Formerly Known As : |
MADISON FILTER LIMITED SCAPA FILTER MEDIA LIMITED SCAPA FILTRATION (EUROPE) LTD. |
|
|
|
|
Registered Office : |
Suite 1 Festival Way Festival Park Stoke on Trent Staffordshire St1 5sq |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
26.09.1968 |
|
|
|
|
Com. Reg. No.: |
00939480 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Subject is engaged in Manufactures and sells industrial filtration
media to a global customer base. |
|
|
|
|
No. of Employees : |
14 |
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+ |
Low Risk |
Business dealings permissible with low 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 (30.09.2017) |
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
identification
CLEAR EDGE - UK LTD
SUITE
1 FESTIVAL WAY
FESTIVAL
PARK
STOKE
ON TRENT
STAFFORDSHIRE
ST1
5SQ
United
Kingdom
Telephone
0044 1489 563 470
Fax -
Website
www.filtrationgroup.com
|
Company Number: 00939480 Foundation:
26/09/1968 |
Status: VAT
No. |
Active
- Accounts Filed GB 146590943 |
Main
indices
Comments
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. There has been an increase
in shareholders funds
compared
with the previous balance sheet.
This
company trades in an industry with a higher level of corporate failures.
This
company has been treated as a Small company in respect of the rating/limit
generated.
Basic
information
Legal
form
Private limited with Share Capital
|
Foundation 26/09/1968 |
|
Company
No. 00939480 |
Previous Names
|
Date
of Change |
Previous
Name |
|
29/07/2008 |
MADISON
FILTER LIMITED |
|
27/03/2000 |
SCAPA
FILTER MEDIA LIMITED |
|
15/01/1999 |
SCAPA
FILTRATION (EUROPE) LTD. |
Shareholders
|
Name |
Currency |
Number
of shares |
Share
type |
Nominal
value |
|
MADISON
FILTER 981 LTD |
GBP |
100,001 |
ORDINARY |
1 |
|
Total
Share Capital |
GBP
100,001 |
Management
|
Directors |
|||||
|
Name |
Address: |
Date
of birth |
Nationality |
Appointment
date |
|
|
Mr
Michael John Jordan |
The
Mansion Tower, Houston Road, Bishopton, Renfrewshire PA7 5NX |
04/04/1964 |
British |
26/03/2007 |
|
|
Mr
Randall Schmitz |
Suite
1 Festival Way, Festival Park, Stoke On Trent, Staffordshire ST1 5SQ |
18/08/1959 |
American |
31/05/2014 |
|
|
Name |
Address: |
Appointment
date |
|
Jan
Willem Radstaak |
Suite
1 Festival Way, Festival Park, Stoke On Trent, Staffordshire ST1 5SQ |
31/05/2014 |
Other Known Addresses
Suite
1 Festival Way, Festival Park, Stoke On Trent, Staffordshire ST1 5S, Q ST1 5SQ
Company
relationships
|
Company
No. |
Name |
Status |
Country |
|
|
Ultimate
parent |
||||
|
- |
FILTRATION
GROUP CORP |
Other |
USA |
|
|
Affiliated
companies |
||||
|
538718710000 |
Clear
Edge Filtration Holding B.V. |
Active |
Luxembourg |
|
|
Immediate
parent |
||||
|
03815101 |
MADISON
FILTER 981 LIMITED |
Active |
United
Kingdom |
|
Business
activities
Main
activity
|
Principal
Activity |
Manufactures
and sells industrial filtration media to a global customer base. |
|
SIC03 |
Other
manufacturing |
|
SIC07 |
Other
manufacturing n.e.c. |
Economic
data
Turnover and Employees
|
Date
of Accounts |
Turnover |
Employees |
|
31/12/2014 |
Not
Stated |
Not
Stated |
|
31/12/2015 |
Not
Stated |
14 |
|
31/12/2016 |
Not
Stated |
14 |
Supplementary
data
Banks
|
Bank
Name |
Bank
Branch Sort Code |
|
NATIONAL
WESTMINSTER BANK PLC |
56-00-27 |
Auditor
Auditor
name
PM
& M SOLUTIONS FOR BUSINESS LLP
Events
|
Company
history |
||
|
Date |
Action |
|
|
06/06/2013 |
Change
in Reg.Office |
|
|
06/06/2013 |
Change
of Company Postcode |
|
|
06/07/2013 |
Annual
Returns |
|
|
05/10/2013 |
New
Accounts Filed |
|
|
27/06/2014 |
Mr
R. Schmitz has resigned as company secretary |
|
|
27/06/2014 |
Mr
R. Von Drehle has left the board |
|
|
27/06/2014 |
New
Board Member Mr R. Schmitz appointed |
|
|
27/06/2014 |
New
Company Secretary J.W. Radstaak appointed |
|
|
08/07/2014 |
Annual
Returns |
|
|
20/12/2014 |
New
Accounts Filed |
|
|
20/12/2014 |
New
Accounts Filed |
|
|
05/07/2015 |
Annual
Returns |
|
|
06/09/2015 |
New
Accounts Filed |
|
|
06/09/2015 |
New
Accounts Filed |
|
|
28/06/2016 |
Annual
Returns |
|
|
11/10/2016 |
New
Accounts Filed |
|
|
02/12/2016 |
Payment
Data Update Received |
|
|
28/06/2017 |
Confirmation
Statement |
|
|
20/07/2017 |
New
Accounts Filed |
|
|
20/07/2017 |
New
Accounts Filed |
|
|
28/02/2018 |
Payment
Data Update Received |
|
|
Mortgages |
|||||
|
Charge
created |
17/11/1999 |
||||
|
Charge
registered |
02/12/1999 |
||||
|
Status |
SATISFIED |
||||
|
Entitled
person |
NATIONAL
WESTMINSTER BANK PLC (”THE SECURITY TRUSTEE”) |
||||
|
Secured
amount |
ALL
OBLIGATIONS AND LIABILITIES DUE OR TO BECOME
DUE FROM THE COM- PANY TO ANY OFTHE SECURED PARTIES UNDER OR PURSUANT TO ALL OR ANY OF THE SECURED DOCUMENTS (ALL DEFINED THEREIN) |
||||
|
Mortgage
detail |
FIXED
AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE
INCLUDING GOODWILL BOOKDEBTS UN- CALLED CAPITAL
BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE
DOCUMENT FOR FULL DETAILS |
||||
|
|
|
||||
|
Charge
created |
21/07/2009 |
||||
|
Charge
registered |
06/08/2009 |
||||
|
Status |
PARTIAL
PROPERTY RELEASE |
||||
|
Entitled
person |
COOPERATIEVE AGENT |
CENTRALE |
RAIFFEISEN-BOERENLEENBANK |
B.A. |
SECURITY |
|
Mortgage
detail |
ALL
OF ITS RIGHTS IN RESPECT OF ANY AMOUNT STANDING
TO THE CREDIT OF ANY
SECURITY ACCOUNT SEE IMAGE FOR FULL DETAILS |
||||
County
Court Judgments (CCJs)
There
are no County Court Judgments listed against this company
Accounts
Profit
& Loss
|
|
52 GBP Group:
No |
31/12/2015 52 GBP Group:
No |
31/12/2014 52 GBP Group:
No |
31/12/2013 52 GBP Group:
No |
|
Turnover |
- |
- |
- |
- |
|
Export |
- |
- |
- |
- |
|
Cost
of Sales |
- |
- |
- |
- |
|
Gross
Profit |
- |
- |
- |
- |
|
Wages
And Salaries |
- |
- |
- |
- |
|
Directors
Emoluments |
- |
- |
- |
- |
|
Operating
Profit |
- |
- |
- |
- |
|
Depreciation |
3,034 |
2,741 |
2,742 |
2,880 |
|
Audit
Fees |
- |
- |
- |
- |
|
Interests
Payments |
- |
- |
- |
- |
|
Pre
Tax Profit |
- |
- |
- |
- |
|
Taxation |
- |
- |
- |
- |
|
Profit
After Tax |
- |
- |
- |
- |
|
Dividends
Payable |
- |
- |
- |
- |
|
Retained
Profit |
- |
- |
- |
- |
Balance Sheet
|
|
52 GBP Group:
No |
31/12/2015 52 GBP Group:
No |
31/12/2014 52 GBP Group:
No |
31/12/2013 52 GBP Group:
No |
|
Tangible
Assets |
4,419 |
7,453 |
4,901 |
7,643 |
|
Intangible
Assets |
0 |
0 |
0 |
0 |
|
Total
Fixed Assets |
4,419 |
7,453 |
4,901 |
7,643 |
|
Stock |
0 |
0 |
0 |
0 |
|
Trade
Debtors |
0 |
0 |
753,402 |
917,741 |
|
Cash |
49,410 |
66,713 |
38,206 |
23,887 |
|
Other
Debtors |
310,226 |
117,814 |
0 |
0 |
|
Miscellaneous
Current Assets |
0 |
0 |
0 |
0 |
|
Total
Current Assets |
359,636 |
184,527 |
791,608 |
941,628 |
|
Trade
Creditors |
73,209 |
63,505 |
113,454 |
166,893 |
|
Bank
Loans and Overdraft |
0 |
0 |
0 |
0 |
|
Other
Short Term Finance |
0 |
0 |
0 |
0 |
|
Miscellaneous
Current Liabilities |
58,286 |
177,730 |
0 |
0 |
|
Total
Current Liabilities |
131,495 |
241,235 |
113,454 |
166,893 |
|
Bank
Loans and Overdrafts LTL |
0 |
0 |
0 |
0 |
|
Other
Long Term Finance |
0 |
0 |
0 |
0 |
|
Total
Long Term Liabilities |
0 |
0 |
0 |
0 |
Capital
& Reserves
|
|
52 GBP Group:
No |
31/12/2015 52 GBP Group:
No |
31/12/2014 52 GBP Group:
No |
31/12/2013 52 GBP Group:
No |
|
Called
Up Share Capital |
100,001 |
100,001 |
100,001 |
100,001 |
|
P
and L Account Reserve |
132,559 |
-149,256 |
-6,898,694 |
-6,799,371 |
|
Revaluation
Reserve |
0 |
0 |
0 |
0 |
|
Sundry
Reserves |
0 |
0 |
7,481,748 |
7,481,748 |
|
Shareholders
Funds |
232,560 |
-49,255 |
683,055 |
782,378 |
Other
Financial Items
|
|
52 GBP Group:
No |
31/12/2015 52 GBP Group:
No |
31/12/2014 52 GBP Group:
No |
31/12/2013 52 GBP Group:
No |
|
Net
Worth |
232,560 |
-49,255 |
683,055 |
782,378 |
|
Working
Capital |
228,141 |
-56,708 |
678,154 |
774,735 |
|
Total
Assets |
364,055 |
191,980 |
796,509 |
949,271 |
|
Total
Liabilities |
131,495 |
241,235 |
113,454 |
166,893 |
|
Net
Assets |
232,560 |
-49,255 |
683,055 |
782,378 |
Cash Flow
|
|
52 GBP Group:
No |
31/12/2015 52 GBP Group:
No |
31/12/2014 52 GBP Group:
No |
31/12/2013 52 GBP Group:
No |
|
Net
Cash Flow from Operations |
- |
- |
- |
- |
|
Net
Cash Flow before Financing |
0 |
0 |
0 |
0 |
|
Net
Cash Flow from Financing |
- |
- |
- |
- |
|
Increase
in Cash |
-17,303 |
28,507 |
14,319 |
-14,042 |
Miscellaneous
|
|
52 GBP Group:
No |
31/12/2015 52 GBP Group:
No |
31/12/2014 52 GBP Group:
No |
31/12/2013 52 GBP Group:
No |
|
Capital
Employed |
232,560 |
-49,255 |
683,055 |
782,378 |
Financial Ratios
|
Name |
31/12/2016 |
31/12/2015 |
31/12/2014 |
31/12/2013 |
|
Pre
Tax Profit Margin |
|
|
|
|
|
Current
Ration |
2.73 |
0.76 |
6.98 |
5.64 |
|
Sales
or Net Working Capital |
|
|
|
|
|
Gearing |
0.00
% |
0.00
% |
0.00
% |
0.00
% |
|
Equity |
63.88
% |
-25.66
% |
85.76
% |
82.42
% |
|
Creditor
Days |
|
|
|
|
|
Debtor
Days |
|
|
|
|
|
Liquidity
or Acid test |
2.73 |
0.76 |
6.97 |
5.64 |
|
Return
on Capital Employed |
|
|
|
|
|
Return
on Total Assets Employed |
|
|
|
|
|
Current
Debt Ratio |
0.56
% |
-4.89
% |
0.16
% |
0.21
% |
|
Total
Debt Ratio |
0.56
% |
-4.89
% |
0.16
% |
0.21
% |
|
Stock
Turnover Ratio |
|
|
|
|
|
Return
on Net Assets Employed |
|
|
|
|
REMARKS
CLEAR
EDGE - UK LTD t/a PCI Membranes
The
company is part of a group represented world-wide.
The abbreviated
balance sheet
reports a satisfactory trading position with increased profitability and
shareholder’s funds retained at an acceptable level.
Remains
to be seen how the company trades in the financial year ended December 2017
Apparent
Net Profit Year Ended 31/12/2016 –
281,815 GBP
Apparent
Net Profit Year Ended 31/12/2015 –
674,9438 GBP
Next accounts made up to 29 December 2017 due by 29 September 2018
ACTIVITY
;- Tubular Membrane manufacturer
TRADING
ADDRESS ;- Unit 11 Fulcrum 2, Solent Way, Whiteley. Fareham. Hampshire PO15 7FN
EMPLOYEES
:- 10
BRANCHES
:- Poland (Group has world-wide coverage )
BANKERS :- National Westminster Bank Plc
We do not hold information as to whether the
company / shareholders appear on OFAC lists, UE sanctions lists.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.78 |
|
|
1 |
INR 92.89 |
|
Euro |
1 |
INR 80.74 |
|
GBP |
1 |
INR 91.08 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.