Graydon UK

Level 3-Comprehensive Credit Rating Report
Supplied on24 May 2010
Client Reference www.creditman.co.uk
Reporter VerificationIn order to ensure the accuracy of this report, certain information has been verified.

Company Identification Details

Subject Reported on SINGLE SOURCE LIMITED
Registration Number04284442
VAT Number GB806618820
Address STAFFORD PARK 6, TELFORD, SHROPSHIRE, TF3 3AT.
Telephone 01952 234100
Facsimile 01952 234111
Email enquiries@singlesourceportions.com
Web Address www.singlesourceportions.com

Creditline Recommendations

Graydon Rating
 
  		3B
GBP 6m-19m financial strength rating based on net worth plus net current assets /liabilities
Monthly Credit Guide GBP 150,000
Risk Category LOW RISK
Odds of Financial Stress
(next 12 months) 		362.10 / 1
The definition of 'Financial Stress' is either Dissolution, Liquidation, Receivership, Petition for Winding-up, Resolution for Winding-up, Winding-up Order, Creditors Meeting or Administration.
XSeption Summary
Number of XSeptions 1
Note : An 'XSeption' is only recorded when unusual patterns of behaviour or financial results have been identified. You are advised to investigate the background to any unusual pattern before granting credit.
XSeption Details

3 directors resigned from the subject on the same day, 2009-10-02
Payment Behaviour
Indicator in Poor zone -
Stricter payment terms and close supervision of the account is recommended.
Indicator in Normal zone -
Will need chasing from time to time.
Indicator in Good zone -
Likely to pay invoices on or near to due date.
The payment behaviour gauge (above) indicates how fast the subject may pay its creditors based on information provided to Graydon from its trade payment programme, county courts and financial statements.
Payment Comparisons
The graph comparison (right) shows how the subject company may pay its creditors in comparison to companies of a similar size and to companies in the same industry. The scores range from zero indicating the worst payment record and 100 being the most prompt record.
Official Company Data
Legal FormPrivate Limited
Registration Number04284442
VAT Number GB806618820
Subject Status Trading
Date of Incorporation10/09/2001
Registered Office STAFFORD PARK 6, TELFORD, SHROPSHIRE, TF3 3AT.
History

9/10/2002 : The Registered Office address changed from STAFFORD PAR 6, TELFORD, SHROPSHIRE, TF3 3AT.
 

7/12/2001 : The Registered Office address changed from C/O BERWIN LEIGHTON PAISNER, ADELAIDE HOUSE,.
 

17/10/2001 : Change of name from PCO 303 LIMITED.
 

16/10/2001 : The Registered Office address changed from 1 MITCHELL LANE, BRISTOL, BS1 6BU.
Date of Last Annual Return to Registry 10/09/2009
Accounts The last filed accounts at Companies House are those to 28/02/2010
Accounting Reference Date 28/02
Operations
ActivitiesA Group engaged in the Manufacture and Distribution of Products in Saches and Similar Products
Nace Code1589
PremisesLeased,Factory,Offices
Staff Employed140
Import CountriesEUROPE, USA
Export CountriesMIDDLE EAST, EUROPE
BankersROYAL BANK OF SCOTLAND PLC
AddressTELFORD.
Sort Code163317
AuditorsSaffery Champness
Branches

STAFFORD PK 6, TELFORD, SHROPSHIRE, TF3 3AT.
Subsidiaries

APCS HOLDINGS LIMITED
 

CENTRAL LEGAL FUNDING LIMITED
Historical Graydon Rating
Date Graydon Rating Monthly Credit Guide
24/05/20103B 150,000
24/02/20104B 81,000
24/11/20094A 113,000
24/08/20094A 115,000
24/05/20094A 115,000
Public Record Information
Summary of CCJ's/Scottish Decrees

No CCJs/Scottish Decrees are recorded in our file.

Summary of Mortgages, Charges and Satisfactions
Total Number of Mortgages/Charges Registered 4
Number Outstanding 2
Number Partially Satisfied 0
Number Satisfied 2
  
Date of Latest Mortgage Created 08/07/2005
Date of Latest Satisfaction 31/03/2006
Details of most recent Mortgages, Charges and Satisfactions
Date Fully
Satisfied 		Date
Registered 		Date
Created 		Charge
Description 		Form Type
 Lender
 12/07/200508/07/2005Fixed And Floating Charge395The Royal Bank Of Scotland Commercial Services Limited
 02/07/200529/06/2005Debenture395The Royal Bank Of Scotland Plc
31/03/200603/04/200321/03/2003Guarantee Debenture395Barclays Bank Plc
07/07/200517/01/200211/01/2002Mortgage Debenture395Co-Operative Bank Plc
It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.
Other Filings and Notices
DateSourceDescription
07/04/2010Companies House GazetteNotification of any change among the company's directors
08/10/2009Companies House GazetteNotification of any change among the company's directors
28/09/2009Companies House GazetteResolutions or agreements to which section 380 applies (relating to shares rights or names)
28/09/2009Companies House GazetteAlteration in memorandum or articles of association
12/08/2009Companies House GazetteChange among directors of a company
10/05/2008Companies House GazetteChange among directors of a company
30/05/2007Companies House GazetteChange among directors of a company
06/06/2005Companies House GazetteAlteration in memorandum or articles of association
12/06/2002Companies House GazetteChange among directors of a company
07/12/2001Companies House GazetteChange among directors of a company
07/11/2001Companies House GazetteChange among directors of a company
27/10/2001Companies House GazetteAlteration in memorandum or articles of association
27/10/2001Companies House Gazette"Resolutions which give vary
27/10/2001Companies House GazetteSpecial resolutions passed under section 95 disapplication of pre-emption rights
16/10/2001Companies House GazetteChange among directors of a company
Company Secretary
SecretaryJOHN MARCUS WARDLE
Service Address12 LITTLE MEADOW CLOSE, ADMASTON, TELFORD, SHROPSHIRE, TF5 0DN.
Country of OriginUNITED KINGDOM
Date of Birth30/03/1958
Appointment Date04/07/2002
Other DirectorshipsDAIRYSTIX LIMITED, MKD 6 LIMITED
Directors
AccountantJOHN MARCUS WARDLE
Service Address12 LITTLE MEADOW CLOSE, ADMASTON, TELFORD, SHROPSHIRE, TF5 0DN.
Country of OriginUNITED KINGDOM
Date of Birth30/03/1958
Appointment Date02/01/2002
Other DirectorshipsDAIRYSTIX LIMITED, MKD 6 LIMITED

Director
MR JAMES MICHAEL THELWELL
Service AddressMEADOW VIEW HIGH STREET, CLIVE, SHREWSBURY, SHROPSHIRE, SY4 3JL.
Country of OriginUNITED KINGDOM
Date of Birth26/10/1951
Appointment Date02/11/2001
Other DirectorshipsMKD 6 LIMITED

Director
RICHARD BARTHOLOMEW ALLEN KOLBE
Service AddressHOME FARM COTTAGE, PEATSWOOD, MARKET DRAYTON, SHROPSHIRE, TF9 2PA.
Country of OriginUNITED KINGDOM
Date of Birth16/04/1952
Appointment Date03/12/2001
Other DirectorshipsA.P. SACHETS LIMITED, APCS HOLDINGS LIMITED, SUGAR STIX LIMITED, DAIRYSTIX LIMITED, SANTEAU LTD, CENTRAL LEGAL FUNDING LIMITED, MKD 6 LIMITED

Director
PAUL ROY MAINWARING
Service Address16 CHERRY TREE CLOSE, WELLINGTON, TELFORD, SHROPSHIRE, TF1 2HQ.
Country of OriginUNITED KINGDOM
Date of Birth27/07/1967
Appointment Date01/10/2008

Director
ADOLF JOHANNES GLABGEN
Service AddressSTAFFORD PARK 6, TELFORD, SHROPSHIRE, TF3 3AT.
Country of OriginGERMANY
Date of Birth29/10/1967
Appointment Date02/10/2009

Director
GERARD PANCRATIUS NOTA
Service AddressSTAFFORD PARK 6, TELFORD, SHROPSHIRE, TF3 3AT.
Country of OriginNETHERLANDS
Date of Birth23/08/1952
Appointment Date02/10/2009

Director
ADRIANUS JACOBUS DORLEIJN
Service AddressSTAFFORD PARK 6, TELFORD, SHROPSHIRE, TF3 3AT.
Country of OriginNETHERLANDS
Date of Birth23/12/1946
Appointment Date02/10/2009
Share Capital
SharesOrdinary A GBP 1.00
Issued Number100,000
SharesOrdinary B GBP 1.00
Issued Number949,154
Principal Shareholder449,153 Crisalis Trustees (Guernsey) Ltd
 127,119 John Coulthurst Holroyd
 84,746 Richard Bartholomew Allen Kolbe
 84,746 James Michael Thelwell
 84,746 John Marcus Wardle
 84,746 Nora Joy Cotton
 33,898 Sharon Thompson
 33,898 Stewart Owen Thompson
 24,900 Jason Raymond Arthur Slater
 24,900 Charles William Powell
The above reflects the principle shareholder(s) by number of shares held, irrespective of share classification type.
Ultimate ParentSUDZUCKER AG, a company incorporated in GERMANY
Financial Data– Statutory Accounts
For annual accounts images, view the Document Image list
Profit and Loss
The following figures are shown in units of 1000
Number of Weeks 21525252
Accounts Date 28/02/201030/09/200830/09/200730/09/2006
Consolidated YesYesYesYes
Currency GBPGBPGBPGBP
SALES10449202071871417439
UK sales8973174231657115660
Export1476278421431779
Cost of goods sold7895150031383713880
GROSS PROFIT2554520448773559
Wages and Salaries1454342932203087
Directors Emoluments51108444363
Auditors Fees13121111
Non-Audit Fees 4  
Trading Profit91718551822723
Depreciation189442421389
OPERATING PROFIT72814131401334
Non Trading Income6(190)278
Interest Payable1361742
PRE TAX PROFIT73311871411300
Taxation209384435108
PROFIT AFTER TAX524803976192
Dividends Payable2000   
RETAINED PROFITS(1478)763977189
Balance Sheet
The following figures are shown in units of 1000
Number of Weeks 21525252
Accounts Date 28/02/201030/09/200830/09/200730/09/2006
Consolidated YesYesYesYes
Currency GBPGBPGBPGBP
TOTAL FIXED ASSETS2040444927142429
Tangible Assets1930427225142355
Fixed Assets1904244725132355
Intermediate assets2618251 
Intangible Assets11017720074
TOTAL CURRENT ASSETS7154590956525048
Trade debtors4030350929722569
Stocks1613144315481504
Other Current Assets15119571132975
Misc Current Assets685771709975
Due From Group2181  
Cash8245423 
TOTAL ASSETS91941035883667477
TOTAL CURRENT LIABILITIES4559516038523922
Trade creditors2735214118942105
Short Term Loans12108961689
Bank Overdraft 1043 620
Other Finance12466169
Other Liabilities1812193018971128
WORKING CAPITAL259574918001126
TOTAL LONG TERM LIABS74492410831100
Long Term Loans 327818
Other Finance 327818
Other Liabilities74489210051082
NET ASSETS/(LIABILITIES)3891427434312455
SHARE CAPITAL + RESERVES3891427434312455
Share Cap + Sundry Res1293123812381238
Issued Share Capital1069104910491049
Sundry Reserves224189189189
Profit and Loss account2598303621931217
SHAREHOLDERS FUNDS3891427434312455
CAPITAL EMPLOYED4635519845143555
Financial Comparison
The following figures are shown in units of 1000
Number of Weeks 21525252
Accounts Date 28/02/201030/09/200830/09/200730/09/2006
Consolidated YesYesYesYes
Currency GBPGBPGBPGBP
Net Cashflow from Oper.966139415851409
Increase in Cash310(1461)1043172
Directors Remuneration51108444363
Auditors Remuneration13121111
Liquid Assets4854351433952569
Net Working Capital259574918001126
Long Term Debt(>12 Months) 327818
Other Deferred Liabs74489210051082
Tangible Net Worth(T.N.W)3781409732312381
Equity3891427434312455
Number of Years Trading9765
Number of Employees140132131136
Profit per Employee5235.78992.4107712205.9
Sales per Employee74635.7153083.3142855128227.9
Key Credit Ratios
The following figures are shown as Ratios or Percentages
Accounts Date 28/02/201030/09/200830/09/200730/09/2006
Consolidated YesYesYesYes
Current Ratio1.61.11.51.3
Long Term Debt/T.N.W    
Pre Tax Profit Margin%75.97.51.7
Gross Profit%24.425.826.120.4
Debtors Days (D.S.O)141635854
Creditors Days (D.P.O)96393744
Quick Ratio1.20.91.10.9
W.I.P/Inventory Days74.635.140.839.6
Return on Investment%15.819.531.28.1
Return on Assets%811.516.94
T.N.W/Total Assets%41.139.638.631.8
Return on Capital%15.822.831.38.4
Rtn on Shareholders Funds%18.827.841.112.2
Working Capital/Sales%24.83.79.66.5
Borrowing Ratio%0.327.44.329.7
Equity Gearing%73.470.269.548.9
Stock Turnover6.51412.111.6
Days Purchases Outstanding126.452.15055.4
Sales/Fixed Assets5.58.37.47.4
Debt Gearing 0.82.40.8
Key Industry Sector Trends
Year 2009200820072006
Sample Size 1662240523102226
Pre-Tax Profit Margin1.90.62.32.3
Current Ratio1.11.11.11.2
Borrowing Ratio37.134.126.939.1
Return on Capital21.316.820.223.9
Creditors Days39536164
Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Manufacture of other food products
Financial Summary
Auditors Qualification
The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 28/02/2010.
Turnover
Turnover decreased by 48 % and reduced by 9,758,000 to GBP 10,449,000.
Operating Profit
Totalled GBP 728,000. In the year prior a Profit of GBP 1,413,000 was achieved.
Pre Tax Profit
The subject's profit decreased by 38 % over the previous year.
Working Capital
The company's working capital has increased by 246 % in the period.
Net Worth
Net worth reduced by GBP 383,000 during the period and now stands at GBP 3,891,000.
Fixed Assets
The subject's fixed assets reduced during the year by GBP 2,409,000 to GBP 2,040,000 and are now 22 % of total assets compared with 42 % in the previous year.
Long Term Liabilities
The company's long term liabilities reduced during the period by 19 % and are now 19 % of net worth compared with 22 % in the previous period.
Long Term Liabilities
Long term liabilities are now 8 % of total liabilities compared with 9 % in the previous period.
Long Term Liabilities
Long term liabilities are 16 % of capital employed, a decrease of 2 % over the previous period.

*** End of Report on  SINGLE SOURCE LIMITED ***