MIRA INFORM REPORT

 

 

Report No. :

512134

Report Date :

28.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SPEEDAR LTD

 

 

Formerly Known As :

SPEEDAR ELECTRONICS LIMITED

 

 

Registered Office :

45 ST. Richards Road Crowborough East Sussex TN6 3AS

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

08.09.2004

 

 

Com. Reg. No.:

05226142

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

·         Manufacture of electronic measuring, testing etc. equipment, not for industrial process control.

·         Manufacture of speed measurement systems.

 

 

No. of Employees :

Not Available

 

 

 

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

C

 

Credit Rating

 

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Moderate

 

 

Payment Behaviour :

Slow 

 

 

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 Name

 

SPEEDAR LTD

 

 

Company No

 

05226142

 

 

Company Summary

 

Registered Address                  45 ST. RICHARDS ROAD
CROWBOROUGH
EAST SUSSEX
TN6 3AS

Trading Address                      45 St. Richards Road
Crowborough
East Sussex
TN6 3AS

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

Telephone Number                   01892655909

Fax Number

TPS                                          No

FPS                                          Yes

Incorporation Date                   08/09/2004

Previous Name             SPEEDAR ELECTRONICS LIMITED

Type                                         Private limited with Share Capital

FTSE Index                              -

Date of Change             22/10/2004

Filing Date of Accounts            26/12/2017

Currency                                  GBP

Share Capital                           £160

SIC07                                       26511

Charity Number                        -

SIC07 Description                    MANUFACTURE OF ELECTRONIC MEASURING, TESTING ETC. EQUIPMENT, NOT FOR INDUSTRIAL PROCESS CONTROL

Principal Activity                      Manufacture of speed measurement systems.

 

 

Additional Information

 

CCJ's                                       0 (£0)

No CCJ Information To Display

Ultimate Holding Company      -

Accountant                               -

Mortgages                                0

Group                                      0 companies

Linkages                                  0 companies

Countries                                 In 0 countries

 

 

Key Financials

 

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

31/03/2017                          -                             -                                   -£7,754                                     -

31/03/2016                          -                             -                                   -£10,893                                    -

31/03/2015                          -                             -                                   -£8,082                                     -

 

 

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

 

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

The latest Balance Sheet indicates a negative net working capital position.

The latest cash balances are considered to be low 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 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

9

Total Person's With Significant Control

1

 

 

Current Directors

 

Title

Mr

Function

Director

Name

Roderick Little

Nationality

British

Date of Birth

10/1943

Present Appointments

1

Latest Address

6 Berrall Way, Billingshurst, West Sussex

Appointment Date

23/09/2005

Post Code

RH14 9PG

Title

Mr

Function

Director

Name

Ronald Thomas Edwards

Nationality

British

Date of Birth

07/1945

Present Appointments

3

Latest Address

45 St Richards Road, Crowborough, East Sussex

Appointment Date

18/10/2005

Post Code

TN6 3AS

 

 

Current Company Secretary

 

Title

Mr

Function

Company Secretary

Name

Ronald Thomas Edwards

Nationality

British

Date of Birth

07/1945

Present Appointments

4

Latest Address

45 St Richards Road, Crowborough, East Sussex

Appointment Date

18/10/2005

Post Code

TN6 3AS

 

 

Top Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

RODERICK LITTLE

GBP

150

ORDINARY

1

93.75

RICHARD PORTER

GBP

5

ORDINARY

1

3.13

RONALD THOMAS EDWARDS

GBP

5

ORDINARY

1

3.13

 

 

Financial

 

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

-

-

-

-

-

-

-

-

£77,784

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-100%

£48,569

Gross Profit

-

-

-

-

-

-

-

-

£29,215

Wages & Salaries

-

-

-

-

-

-

-

-

£1,482

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

-

-

-

-

-

-

-

-

£10,194

Depreciation

-

-

-

-

-

-

-

-

-

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

£10,194

Taxation

-

-

-

-

-

-

-

-

-£2,038

Profit After Tax

-

-

-

-

-

-

-

-

£8,156

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

£8,156

 

Balance Sheet

Date Of Accounts

31/03/17

(%)

31/03/16

(%)

31/03/15

(%)

31/03/14

(%)

31/03/13

Tangible Assets

£1

-

0

-

0

-

0

-

0

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£1

-

0

-

0

-

0

-

0

Stock

0

-

0

-

0

-

0

-

0

Trade Debtors

£23,765

10.2%

£21,567

241.3%

£6,320

-79.6%

£30,923

51.5%

£20,410

Cash

0

-

0

-100%

£5,790

199.8%

£1,931

-91.7%

£23,366

Other Debtors

0

-

0

-

0

-

0

-100%

£888

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£23,765

10.2%

£21,567

78.1%

£12,110

-63.1%

£32,854

-26.4%

£44,664

Trade Creditors

£27,027

-3.4%

£27,967

78.1%

£15,699

32.5%

£11,845

-

0

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-100%

£6,618

Total Current Liabilities

£27,027

-3.4%

£27,967

78.1%

£15,699

32.5%

£11,845

79%

£6,618

Bank Loans & Overdrafts and LTL

£4,493

-

£4,493

-

£4,493

9.3%

£4,112

-68.1%

£12,876

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

£4,493

-

£4,493

-

£4,493

9.3%

£4,112

-68.1%

£12,876

 

Capital & Reserves

 

Date Of Accounts

31/03/17

(%)

31/03/16

(%)

31/03/15

(%)

31/03/14

(%)

31/03/13

Called Up Share Capital

-

-

-

-100%

£1

-

£1

-

-

P & L Account Reserve

-£7,754

28.8%

-£10,893

56.4%

-£24,980

-247.8%

£16,896

-32.9%

£25,170

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-100%

£16,897

-

-

-

-

Shareholder Funds

-£7,754

28.8%

-£10,893

-34.8%

-£8,082

-147.8%

£16,897

-32.9%

£25,170

 

Other Financial Items

Date Of Accounts

31/03/17

(%)

31/03/16

(%)

31/03/15

(%)

31/03/14

(%)

31/03/13

Net Worth

-£7,754

28.8%

-£10,893

-34.8%

-£8,082

-147.8%

£16,897

-32.9%

£25,170

Working Capital

-£3,262

49%

-£6,400

-78.3%

-£3,589

-117.1%

£21,009

-44.8%

£38,046

Total Assets

£23,766

10.2%

£21,567

78.1%

£12,110

-63.1%

£32,854

-26.4%

£44,664

Total Liabilities

£31,520

-2.9%

£32,460

60.8%

£20,192

26.5%

£15,957

-18.1%

£19,494

Net Assets

-£7,754

28.8%

-£10,893

-34.8%

-£8,082

-147.8%

£16,897

-32.9%

£25,170

 

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

-£3,261

49%

-£6,400

-78.3%

-£3,589

-117.1%

£21,009

-44.8%

£38,046

Number of Employees

-

-

-

-

-

-

-

-

-

Accountants

Auditors

Auditor Comments

The company is exempt from audit

Bankers

Bank Branch Code

Ratios

 

Date Of Accounts

31/03/17

31/03/16

31/03/15

31/03/14

31/03/13

Pre-tax profit margin %

-

-

-

-

13.11

Current ratio

0.88

0.77

0.77

2.77

6.75

Sales/Net Working Capital

-

-

-

-

2.04

Gearing %

-57.90

-41.20

-55.60

24.30

51.20

Equity in %

-32.60

-50.50

-66.70

51.40

56.40

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

95.51

Liquidity/Acid Test

0.87

0.77

0.77

2.77

6.74

Return On Capital Employed %

-

-

-

-

26.79

Return On Total Assets Employed %

-

-

-

-

22.82

Current Debt Ratio

-3.48

-2.56

-1.94

0.70

0.26

Total Debt Ratio

-4.06

-2.97

-2.49

0.94

0.77

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

40.50

 

Report Notes

There are no notes to display.

 

Status History

No Status History found

 

 

Event History

 

Date

Description

01/01/2018

New Accounts Filed

22/09/2017

Confirmation Statement

02/11/2016

New Accounts Filed

28/09/2016

Annual Returns

08/03/2016

New Accounts Filed

17/11/2015

Payment Data Update Received

18/09/2015

Annual Returns

16/09/2015

Payment Data Update Received

17/04/2015

New Accounts Filed

03/10/2014

Annual Returns

03/10/2014

Annual Returns

13/01/2014

New Accounts Filed

08/10/2013

Annual Returns

08/10/2013

Mr R. Porter has left the board

03/06/2013

New Accounts Filed

 

 

Previous Company Names

 

Date

Previous Name

22/10/2004

SPEEDAR ELECTRONICS LIMITED

 

Writ Details

No writs found

 

 

Statistics

 

Group

-

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

-

Ownership Status

Ultimate Holding Company

-

 

Group StructureFull

 

No Group Structure

 

 

Previous Director/Company Secretaries

 

Name

Current Active Appointments

Previous Appointments

Dissolved Companies

Robert Hockley

4

5

55

Ian Douglas Coldwell

0

2

6

Roderick Little

1

1

4

Paul Richard Sherrington

3

1

5

Peta Little

0

1

0

Richard Porter

0

1

0

Janet Rawlings

0

3

7

WILDMAN & BATTELL LIMITED

2

7862

33747

SAME-DAY COMPANY SERVICES LIMITED

6

7858

33766

Total Persons With Significant Control

1

Total Statements

0

Active

1

Active

0

Ceased

0

Ceased

0

 

 

Active Persons With Significant Control

 

Name

Mr. Roderick Little

Kind

Individual Person With Significant Control

Address

6 Berrill Close, Billingshurst, West Sussex

Country Of Residence

United Kingdom

Post Code

-

Nationality

British

Date of Birth

10/1943

Notified On

06/04/2016

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

£75

Invoices available

2

Paid

2

Outstanding

0

 

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

2

0

0

0

0

Outstanding

0

0

0

0

0

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 68.26

UK Pound

1

INR 91.22

Euro

1

INR 79.88

GBP

1

INR 89.79

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

Report Prepared by :

POJ

 

 

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.