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Risk
Scores
The
risks scores we provide are different for Limited Companies and Unincorporated
Businesses. Both types of score have been developed by leading business information
provider ICC in conjunction with Scorex (UK) Ltd. Limited Companies. The risk
score is calculated from a number of measures to predict the probability of
a company failing within the next twelve months. The table below indicates the
level of risk associated with each score.
Risk Scores - Limited Companies
| Risk
Band |
Score (% of cos. above the band) | Risk Band |
| Extreme Caution. Very high risk. Guarantees required with these accounts. | 1-20 (99%) |
at least 10x than average rate |
| 21-29 (97%) | at least 5x than average rate | |
| 30-35 (94%) | 3 to 5x than average rate | |
| 36-40 (89%) | 2 to 3x than average rate | |
| 41-46 (79%) | just above average risk rate | |
| Caution.
Marked risk, ranging from: a) companies with limited credit capacity b) accounts requiring constant monitoring and measured exposure |
47-50 (71%)
|
average risk rate |
| Normal. Limited Risk, normal terms can be granted to these accounts. | 51-53 (63%) | just less than average risk rate |
| 54-57 (54%) | half the average risk rate | |
| Confidence.
Very Low Risk, favorable terms can be offered to such accounts. |
58-63 (39%) | 2 to 3x less than the average rate |
| 64-68 (27%) | 3 to 4x less than the average rate | |
| 69-71 (21%) | 4 to 5x less than the average rate | |
| 72-81 (6%) |
at least 5x less than the average rate | |
| 82-100 | at least 10x less than the average rate |
Risk Scores - Non-Limited Businesses
These scores appear in our Insight Plus reports. The score is calculated using nine measures to indicate the likelihood that a business will pay its debts. The score users a range of 101 – 300. The higher the score the less likely the business is to default on payment. The table below indicates how each score relates to the average unincorporated risk rate.
| U Score | Risk above or below average rate of 5.3% |
| 101 - 154 | At least three times higher than the average rate |
| 155 - 176 | Two to three times higher than average rate |
| 177 - 187 | One and half times higher than average rate |
| 188 - 193 | Just above average rate |
| 194 - 209 | Around the average rate |
| 210 - 219 | Just below the average rate |
| 220 - 229 | Less than half the average rate |
| 230 - 240 | Less than a third of the average rate |
| 241 - 252 | Less than a fifth of the average rate |
| 253 - 300 | Less than a tenth of the average rate |
The average risk rate forms the basis of comparison for all unincorporated business
scores. The report will inform you of the comparison (e.g two or three times
greater or lesser than the average). This provides an easy way to evaluate the
business risk in relation to all other unincorporated businesses. The average
risk rate is higher for unincorporated businesses than it is for limited companies
being 5.3% as opposed to 2%. They are, however, measuring completely different
criteria and evaluating different scenarios. The limited score predicts the
likelihood of the company becoming insolvent, while the unincorporated score
predicts the likelihood of non-payment of a debt. It maybe that you decide to
continue dealing with businesses operating with a greater risk than the average,
but that you do so by setting higher prices, or shorter terms, so covering the
greater bad debt risk rate. This is one way that we can help revolutionise your
approach to managing your bad debt exposure with your unincorporated customer
base.
Where there is no credit score and no credit limit :
- There is insufficient information on a business
- The business has more than 4 outstanding CCJ's in the last 6 months and less than 25 employees
- The value of CCJ's is greater than £2,000 in the last 24 months
- There have been more than 3 CCJs in the last 12 months
- There are more than 10 CCJs in total
Where there is no credit limit
- There is not enough information to estimate financial strength
- The business is engaged
in certain financial activities, making an estimate of financial strength
inappropriate
These are different measures
for Limited Companies and Non-Limited Businesses.
Limited Companies
The Credit Limit is a measure of a company's ability to settle potential credit
transactions. The limit does not in any way suggest how much credit you should
extend to a company as this depends on the risks and financial strengths of
your business.
The following three values are used in the calculation of credit limits:-
- Cash Flow - This is calculated as the Pre-tax Profit of the company plus Depreciation charged against that Profit
- Working Capital - Calculated as the difference between the Total Current Assets and Total Current Liabilities
- Net Worth - Calculated as the Total Assets minus the Total Liabilities where the former is also adjusted to eliminate any Intangible Assets
The
average of these 3 components is then taken as a guide for the credit capacity
of the company. The final figure calculated depend on the Credit Score and also
on industry specific criteria.There
are some companies that will not have a credit limit attached. These companies
will have scored below 15 or alternatively all elements from the balance sheet
and cash flow will be negative.
Non-Limited
Businesses
The recommended trade credit limit for unincorporated businesses should be regarded
as a yardstick for the possible level of acceptable credit. It should not be
viewed as a recommendation of how much credit to extend as this will also depend
on the financial strength of your business. The limit is derived from a combination
of the credit Score and estimates of financial strength. The financial strength
of an unincorporated business is estimated by considering the SIC code (standard
industrial classification) and the number of employees. In some cases the suggested
trade credit limit will be zero.
Credit Limit Period
The credit limit has no time period in consideration, it is advising an overall
credit amount. The credit limit should be regarded as a yardstick for the possible
level of acceptable credit or alternatively the maximum amount one is happy
to be owed by an applicant at any one time.
Contract limits are only provided for Limited Companies.
The contract limit indicates the size of contract that a company can undertake. It is calculated by assessing performance in relation to the risk score and measuring this as a percentage of annual sales. It is a useful for assessing potential value for longer term contractual relationships.
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Registered Name - As registered at Companies House on date of incorporation. Only one company can hold this name at anyone time.
Previous Name(s) - Changes in the company's registered name and date when changed to the succeeding name.
Registered Number - Company registration numbers are unique identifiers for companies. They are allocated on the day of incorporation by Companies House. They can not be used again even if the company is struck from the register.
Registered Office - The legal address of the company to which Companies House will write. An appointed representative of the company should always be there to accept post.
Incorporated - The day Companies House recognised the company's existence and issued the certificate of incorporation.
Lodged - The date which Companies House indicate receipt of accounts.
Last Accounts Filed - Latest filed accounts at Companies House.
Last Annual Return - This document is filed annually within 28 days of the Annual return date. It includes details on the current company structure and directorships. It will also summarise the capital structure.
Accounting Reference Date - The day and month each year to which the accounts should be made up.
Issued Share Capital - The total value of shares issued. This represents the share capital currently invested in the company.
Type of Company - A derived field which takes into account various different states the company may be in. These include whether or not the company is quoted, dissolved, in liquidation, in receivership, trading or non-trading. It also indicates where and under what act the company was incorporated and the Company Type as defined by Companies House.
Type of Accounts - This indicates what type of accounts a company has filed:- Group, Full or Abbreviated.[Back to Top]
Trading Address - The principal trading address of the company. The company is not obliged to file this address, consequently it is captured.
Telephone - Telephone number captured against the trading address.
Fax - Fax number captured by against the trading address.
Region - Area coding allocated from the postal code of the trading address, if that is not available the registered office is used.
Bankers - Companies are not obliged to file this information, so it is researched via other sources. For the larger companies it is taken from the Directors' Report and Accounts, if available. If not, it is sourced from the Annual Return, as with the smaller companies.
Auditors - The name of the auditors of the last set of accounts analysed. For companies filing a compilation report this will be the reporting accountants and for those filing unaudited accounts, the accountants.
SIC Code(s) - The 1992 SIC code(s) which corresponds to the principal activity. For smaller companies, where the principal activity statement has not been captured, the SIC code filed on the Annual Return is used.
Principal Activities - Captured from the Latest Directors' Report and Accounts. For smaller companies this information is not always filedHolding Company - Taken from the latest Annual Return. Indicating a holding of over 50%.
Ultimate Holding Company - Taken from the Latest Directors' Report and Accounts.
All immediate shareholdings by turnover - Gives share class, % held, Sales figure, latest filed accounts date and status for each company listed.[Back to Top]
For a quoted company shareholder information is taken from the Directors Report from the Annual Accounts.
For private limited companies the shareholder information is taken from the Annual Return and subsequent allotments of shares notified on a "Form 88".
Class Code Description - Class of share as detailed by Articles of Memorandum. A company may have more than one class.
Issued Share Capital - The total value of shares issued. This represents the share capital currently invested in the company.
Nominal Share Capital - The total capital that could be invested into the company by its owners, extracted from the Latest Directors' Report and Accounts.
Par value (pence) - Face value of each share, as per Latest Directors' Report and Accounts.
Date of Analysis - Date at which the major shareholder information has been made up to.
SEDOL Number - Stock Exchange Daily Official List number, a unique identifier for each security.
Shareholder Name - Name as it appears in the Latest Directors Report and Accounts/Annual Return.
Number of shares - Number of shares held, this can be blank, in which case the shareholding will be expressed in percentage terms.
Shares (%) - Number of shares held, expressed as a percentage of total issued. This may be disclosed as well as the absolute numeric holding or instead of.
Holder Type - Can be Institution, Director, Female, Male or Nominee.
Beneficial Flag - Indicates whether the shareholder holds the shares as a beneficiary or not.[Back to Top]
Date of Accounts - The date to which the financial statements have been prepared.
Consolidated - This will indicate either yes or no, so that it is clear whether or not the results are derived from consolidated group or company accounts for that specific year.
Subsidiary - This will indicate either yes or no. Defining whether the subject company has a subservient relationship to another company for that specific year.
Number of Weeks - Period covered by the set of accounts.
Currency - Currency of the stated financial statements. It will also indicate whether the accounts are displayed in units or thousands.
Audit Qualification - The Auditors (or reporting accountants) opinion on whether or not the accounts give a true and fair view can be completely unqualified, unqualified but referred or qualified. There a number of ways a report can be qualified each one varying in severity.
Turnover - Total invoiced sales for the period, net of VAT. UK sales, exports & overseas sales and inter-company sales will be included.
Cost of Sales - Cost components directly related to turnover.
Gross Profit - This indicates the profit before deducting depreciation, distribution, selling and administration costs. It is an indicator of the underlying profitability of a company's core operations.
Operating Profit - Indicates the profit and loss arising from core business activities. The figure is pre-tax profit plus interest paid minus non trading income.
Non Trading Income - Comprises investment income, such as income from quoted & unquoted investments, rents received, share of profit from associated companies; as well as reserves adjustments, such as transfers from capital grant reserve. Interest relief grants. Write-offs of investments and intangibles will also be included.
Interest Payable - Interest paid by the company. This will be the net charge for interest after any capitalised element. It should be noted that many private companies do not disclose this figure in full, or aggregate short and long term, and hire purchase interest together.
Pre-tax Profit - The net trading profit figure after deduction of all operating expenses including depreciation & finance charges, but before deduction of tax, dividends, subventions or group relief, and other appropriations. Where applicable it will include the share of profits and losses of associated companies. Items described by the company as exceptional are included. Extraordinary items are excluded.
Taxation - Tax charges paid against profits. This can be negative, representing a tax credit.
Profit after Tax - This figure represents the profit or loss after deduction of corporation taxation but before the deduction of dividends, minority interests and any extraordinary items.
Dividends Payable - This item includes both proposed and paid items and provisions / appropriations determined by FRS4.
Retained Profit - This figure is after the deduction of extraordinary items, taxation, dividends and any other appropriations (e.g. Minority Interests). Essentially, this is the amount carried from the Profit and Loss Account to the accumulated Profit and Loss Account balance on the Balance Sheet.
Value Added - Trading Profit plus salaries & wages. It should be noted that for the value added calculation, staff costs are grossed up to reflect national insurance costs. Value Added represents the difference between the sales income received and bought in materials and services expended in the period[Back to Top]
For the accounts header field definitions, please refer to the Profit & Loss section.
Tangible Fixed Assets - The sum of Fixed Assets and Intermediate Assets.
Intangible assets - Assets which do not possess any material value. Will include goodwill, trademarks, patents and copyrights, at their amortised book value. These are assets with no physical existence, but are deemed to confer benefits to the company in future periods.
Total Fixed assets - The total of tangible and intangible fixed assets.
Stocks - Trading stocks, sundry stocks and work in progress net of progress payments.
Trade Debtors - Trade Debtors, bills receivable and amounts recoverable on contracts due within one year. For smaller companies, when the figure is not disclosed the figure will represent total debtors.
Cash - Cash includes the following :-
Cash in hand;
Cash at bank;
Cash at bank and in hand;
Cash balances;
Miscellaneous Current Assets - Short term assets other than stocks, trade debtors or cash. Includes items such as :-
Sundry debtors;
Amounts due from group and related companies;
Called up share capital not paid;
Bank balances;
Bank account (where not negative);
Bank deposit account;
Building society deposit;
Prepayments and Accrued income;
Current asset investments (where these are not short term deposits).Short term
deposits;
Bank current account
Total Current Assets - The sum of Stocks, Trade Debtors, Cash and Miscellaneous Current Assets.
Total Assets - Current Assets plus Total Fixed Assets.
Creditors: Amounts falling due within one year - Also referred to as Total Current Liabilities, being the sum of Trade Creditors, Bank Overdraft and Miscellaneous Current Liabilities.
Total Assets less Current Liabilities - Total Assets minus Total Current Liabilities.
Total Long Term Liabilities - The sum of Long Term Bank Loans, Other Long Term Finance and Other Long Term Liabilities.
Total Liabilities - The sum of Current and Long Term Liabilities.
Share Capital and Reserves - The sum of Called Up Share Capital and Sundry Reserves.
P&L Account Reserve - The accumulation of profits/losses from previous trading periods including the retained profit/loss from the Profit and Loss Account.
Revaluation Reserve - Also known as investment revaluation reserve, property revaluation reserve, and unrealised capital gains on valuation.
Shareholders Funds - The sum of Called Up Share Capital, Sundry Reserves, P&L Account Reserve and Revaluation Reserve.
Capital Employed - The sum of Shareholders Funds and Total Long Term Liabilities.
Net Worth - Shareholders funds minus intangibles. Often referred to as the book value of the company. The long-term realisable value after all liabilities are cleared.
Working Capital - Obtained by subtracting Total Current Liabilities from the Total Current Assets. This represents the surplus / deficiency of funds from normal trading activities.
Contingent Liabilities - These items are extracted from the notes to the accounts and includes all potential liabilities such as :-
guarantees, indemnities,
cross guarantees, HM customs and excise, letters of credit and VAT registration.
For the accounts header field definitions, please refer to the Profit & Loss section.
The cashflow statement replaced the old style statement of source and application of funds. The various items measure the flow of cash and equivalents during the period.
Net Cashflow from Operating Activities - Cash receipts and payments from normal operations.
Net Cashflow from Return on Investment and Servicing of Finance - Cash derived from holding investments matched against the cash utilised in paying the interest on finance capital and the dividends on equity capital. This is a useful indicator of business performance. A negative figure would indicate poor profitability or poor management of working capital efficiency.
Net Cashflow before Finance - This is the total cash generated or used by the company before any funding activity and movements in the cash balances. If positive, the company has generated a cash surplus, which can be used as liquid funds or to repay debt.
Net Cashflow from Finance - Cash derived from the issue of equity capital or the use of loan facilities matched against the cash utilised in repaying borrowings.
Increase in Cash - A reconciliation
of cash movements in terms of cash and cash equivalent balances.
For the accounts header field definitions, please refer to the Profit & Loss section.
Profit/Sales (%) - This represents the percentage of sales left as profits or losses before tax. In general, if profitability is the main driving force, the higher the result the better. It should not however, be taken in isolation. Also known as the Profit Margin.
Profit/Capital Employed (%) - Often used as a primary measure of company performance. This ratio is taken as an indication of how much profit a business yields relative to the money invested. Also referred to as Return on Capital.
Profit/Total Assets (%) - Shows as a percentage the value of the pre-tax profits in proportion to the value of total assets.
Profit/Shareholders Funds (%) - Expresses the proportion of pre-tax profit made in relation to the value of the shareholders funds.
P & L Account reserve/Total Assets (%) - P & L account reserve from previous years trading displayed as a percentage of total assets (sum of current and fixed).
Sales/Total Assets (%) - Shows as a percentage the value of sales in proportion to the value of total assets as a percentage. Also referred to as Asset Utilisation.
Sales/Fixed Assets ® - Shows as a ratio the value of sales in proportion to the value of fixed assets.
Sales/Total Fixed Assets (%) - Measures the level of sales generated in relation to total fixed assets. This result will be affected by the accuracy of the net book value of the assets.
Sales/Capital Employed ® - This measures the amount of revenue generated in relation to the level of investment made. Referred to as Capital Utilisation and when combined with profit margin gives the principal measure of profitability, return on capital.
Working Capital/Sales (%) - Surplus or deficiency of funds from normal trading activities in relation to its size measured by sales.
Stock Turnover ® - Turnover divided by stocks held. Basically, the number of times stock is renewed each year.
Credit Period (days) - The number of days, on average, for the company to collect trade debt. Calculated by dividing Trade Debtors by Sales and multiplying by 365 days.
Creditor Days (days) - The number of days it takes the company to pay trade creditors. This ratio provides an indication of the amount of credit given to the business by its suppliers. The formula is trade creditors divided by sales multiplied by 365 days.
Debtors/Total Assets (%) - Trade debtors in relation to the total assets of the company. This measures the value of moneys owed in relation to companys asset base.
Net Cash/Current Liabilities ® - Net cash (defined as cash less bank overdraft) expressed as a ratio those liabilities due within the next 12 months.
Liquid Assets/Total Assets (%) - Percentage measurement of liquid assets against total asset base - good indicator of which assets could be quickly realised.
Current Ratio ® - This represents the number of times the business short term assets cover its current liabilities. It measures the ability to meet its day to day commitments.
Liquidity Ratio ® - This represents the number of times a company's quick assets can cover its current liabilities. Quick assets being defined as current assets less stock. This is taking into account the fact that it takes a reasonable amount of time for stock to be converted into cash.
Creditors/Debtors ® - The ratio of trade creditors to trade debtors.
Current Liabilities/Stock ® - Liabilities to be paid within 12 months expressed as a ratio in relation to value of stocks.
Stocks/Working Capital (%) - The value of stocks represented as a percentage of the working capital of the company.
Current Assets/Total Assets (%) - Percentage of current assets against long term assets, indicates where the asset base rests.
Profit/Current Liabilities (%) - Pre-tax profit in relation to liabilities due within the next 12 months.
Sales/Current Liabilities ® - Sales expressed as ratio to those liabilities due within next 12 months.
Interest/Pre-Interest Profit (%) - Sometimes referred to as Income Gearing - this measures the proportion of pre-interest profit which is required to service debt.
Total Debt/Net Worth (%) - A way of measuring the gearing or leverage of a company, by comparing total loans (short and long term) to net worth.
Bank Overdraft & Long Term Liabilities/Net Worth ® - This ratio represents the relationship between the bank overdraft & long term borrowings and other amounts due over 12 months, against the net worth.
Shareholders Funds/Total Liabilities ® - This represents liabilities as a ratio of shareholders funds. This ratio provides a measure of protection given by shareholders to other parties who contribute funds. e.g. banks, creditors etc. A falling ratio indicates increasing financial risk.
Long Term Debt/Net Worth (%) - This represents the debt outstanding beyond 12 months in relation to net worth.
Long Term Liabilities/Net Worth (%) - Ratio of liabilities due over one year in relation to net worth.
Shareholders Funds/Total Assets (%) - The relationship of the businesss assets to shareholders funds.
Net Worth/Total Assets - Intangibles (%) - This measures the accounting value of the company against total assets. Intangibles are discounted as they cover perceived value such as goodwill, R&D development, patents, trademarks etc.
Net Worth/Total Assets (%) - This represents the shareholders funds minus intangibles as a percentage of the total assets (sum of current and fixed).
Net Worth/Total Fixed Assets (%) - This measures the net worth of the company against those assets whose value may be great, but are not necessarily quick to liquidise. Fixed assets normally make up a fair proportion of total assets.
Bank Overdraft & Long Term Liabilities/Working Capital ® - Ratio of bank overdraft and liabilities due over 12 month period in relation to the working capital of the company.
Bank Overdraft & Long Term Liabilities/Total Assets ® - This indicates the relationship between debt and asset value of the company.
Total Debt/Working Capital ® - The ratio of total loans (short and long term) to working capital.
Net Worth/Current Liabilities (%) - This measures the short-term percentage risk against the value of the company.
P & L Account Reserve/Net Worth (%) - Accumulated profits/losses as a percentage of shareholders funds less intangible assets.
Revaluation reserve/Shareholders Funds (%) - This takes into account revaluation of investments or properties and measures it against the shareholders funds.
Bank Overdraft/Current Assets (%) - The current bank overdraft as a percentage of short term assets. A good measurement for using whether these assets cover the bank overdraft.
Average Employee Remuneration (GBP) - Employee remuneration divided by the average number of employees.
Wages/Sales (%) - Indicates the amount of sales revenue expended on employees pay, showing the marginal cost of employment.
Profit/Employee (GBP) - Amount of profit before tax made per employee.
Sales/Employee (GBP) - This is often used as a measurement of productivity. It indicates the amount of sales revenue generated by each employee.
Capital employed per Employee (GBP) - Capital employed (sum of shareholders funds and Total Long Term Liabilities) per employee.
Fixed Assets/Employee (GBP) - Fixed Asset investment per employee.
Total Assets/Employee (GBP) - Total Assets in comparison to the number of employees.
Profit/Value Added (%) - Pre-tax profit as a percentage of value added.
Value Added/Sales (%) - Sales figure as a percentage of value added measurement.
Value Added/Employee (GBP) - Employees in relation to the value added.
Value Added/Employee Remuneration (GBP) - Employees remuneration in relation to the value added.
Exports/Sales (%) - Amount of sales revenue attributable to export business as a percentage of total sales.
Sales/Audit Fees ® - Comparison of sales revenue to cost of audit.
Total Assets/Audit
Fees ® - Comparison of total assets to audit fees.
An overview of the main financial items, indicating a positive or negative growth over time.
Growth Rate Formula
((Y0 - Yx) / Yx) x 100
Y0 represents the first
year, and YX represents the year that the measure is against e.g. Year 2.
Growth Rates Calculated
Sales - Total invoiced sales for the period, net of VAT. UK
sales, exports & overseas sales and inter-company sales will be included.
Pre-tax Profit - The net trading profit figure after deduction of all operating expenses including depreciation & finance charges, but before deduction of tax, dividends, subventions or group relief, and other appropriations. Where applicable it will include the share of profits and losses of associated companies. Exceptional items are included. Extraordinary items are excluded.
Auditors Fees - The auditors charge for the statutory audit, which excludes accountancy charges and other non-audit related fees.
Directors Remuneration - All payments made to directors including pension fund contributions, benefits in kind and ex-gratia payments to their families.
Number of Employees - Average number of employees employed during the period.
Employees Remuneration - Wages and salaries figure - excluding social security, pension costs etc., where possible.
Fixed Assets - This represents a number of items, including the following: property, plant, fixtures, fittings, office equipment and motor vehicles, all at written down value. This will include leased and capitalised assets, and for some industries assets held on a long term basis and constantly replaced for renting or hiring out.
Tangible Assets - This represents a number of items, including the following :- property, plant, fixtures, fittings, office equipment and motor vehicles, all at written down value. This will include leased and capitalised assets, and for some industries assets held on a long term basis and constantly replaced for renting or hiring out.
Total Fixed Assets - The sum of Fixed, Intangible and Intermediate Assets.
Stocks - Trading stocks, sundry stocks and work in progress net of progress payments.
Trade Debtors - Trade Debtors, bills receivable and amounts recoverable on contracts due within one year.
Total Current Assets - The sum of Stocks, Trade Debtors, Cash and Miscellaneous Current Assets.
Total Assets - The total of Current and Total Fixed Assets.
Trade Creditors - This figure includes short-term, i.e. within one year portion of trade creditors and trade bills payable. For smaller companies, where trade creditors have not been separated out, the figure will represent total current liabilities.
Short Term Loans - The sum of Bank Overdraft, Bank Loans (Current Portion) and Other Short Term Finance.
Total Current Liabilities - The sum of Trade Creditors, Bank Overdraft and Miscellaneous Current Liabilities.
Net Cash - All cash and cash equivalent balances.
Shareholders Funds - The sum of Called Up Share Capital, P&L Account Reserve, Revaluation Reserve and Other (Sundry) Reserves.
Net Worth - Shareholders funds minus intangibles. Often referred to as the book value of the company. The long-term realisable value after all liabilities are cleared.
Long Term Loans - The sum of Long Term Bank Loans and Other Long Term Finance.
Long Term Liabilities - The sum of Long Term Bank Loans, Other Long Term Finance and Other Long Term Liabilities.
Capital Employed
- The sum of Shareholders Funds and Total Long Term Liabilities.
Comparison of company against all other companies within the industry type. All measurements are ratio and percentage based so that performances can be compared across all companies. The industry performance is displayed with three measurements a lower, median and upper quartile figure, so that the subject company can be immediately placed in context of its peers. In the text below, an ® character indicates a direct ratio as opposed to a percentage.
Performance
Profit/Sales (%) - This represents the percentage of sales left as profits or losses before tax. In general, if profitability is the main driving force, the higher the result the better. It should not however, be taken in isolation. Also known as the Profit Margin.
Profit/Capital Employed (%) - Often used as a primary measure of company performance. This ratio is taken as an indication of how much profit a business yields relative to the money invested. Also referred to as Return on Capital.
Profit/Total Assets (%) - Shows as a percentage the value of the pre-tax profits in proportion to the value of total assets.
Profit/Shareholders
Funds (%) - Expresses the proportion of pre-tax profit made in relation
to the value of the shareholders funds.
Turnover
Sales/Total Assets (%) - Shows as a percentage the value of
sales in proportion to the value of total assets. Also referred to as Asset
Utilisation.
Sales/Fixed Assets ® - Shows as a ratio the value of sales in proportion to the value of fixed assets.
Working Capital/Sales (%) - Surplus or deficiency of funds from normal trading activities in relation to its size measured by sales.
Stock Turnover ® - Turnover divided by stocks held. Basically, the number of times stock is renewed each year.
Credit Period (days) - The number of days, on average, for the company to collect trade debt. Calculated by dividing Trade Debtors by Sales and multiplying by 365 days.
Creditor Days (days)
- The number of days it takes the company to pay trade creditors. This ratio
provides an indication of the amount of credit given to the business by its
suppliers. The formulae is trade creditors divided by sales multiplied by 365
days.
Liquidity
Current Ratio ® - This represents the number of times short
term assets cover current liabilities. It measures the ability to meet its day
to day commitments.
Liquidity Ratio
® - This represents the number of times short term assets minus
stock cover current liabilities. It measures the ability to meet its day to
day commitments.
Gearing
Total Debt/Net Worth (%) - A way of measuring the gearing or
leverage of a company, by comparing total loans (short and long term) to net
worth.
Shareholders Funds/Total Assets ® - The relationship of total assets to shareholders funds.
Long Term Debt/Net Worth (%) - This represents the debt outstanding beyond 12 months in relation to net worth.
Interest/Pre-Interest Profit (%) - Sometimes referred to as Income gearing - this measures the proportion of pre-interest profit which is required to service debt.
Total Debt/Working
Capital ® - A gearing measurement which compares total borrowings
with the surplus or deficit of funds from normal trading activities.
Employee
Average Employee Remuneration (GBP) - Employee remuneration
divided by the average number of employees.
Wages/Sales (%) - Indicates the amount of sales revenue expended on employees pay, showing the marginal cost of employment.
Profit/Employee (GBP) - Amount of profit before tax made per employee.
Sales/Employee (GBP) - This is often used as a measurement of productivity. It indicates the amount of sales revenue generated by each employee.
Capital Employed/Employee (GBP) - Capital Employed per employee.
Fixed Assets/Employee (GBP) - Fixed Asset investment per employee.
Total Assets/Employee
(GBP) - Total Assets in comparison to the number of employees.
Other
Creditors/Debtors ® - The ratio of trade creditors to trade
debtors.
Debtors/Total Assets (%) - Trade debtors in relation to the total assets of the company. This measures the value of moneys owed in relation to company's asset base.
Exports/Sales (%) - Amount of sales revenue attributable to export business as a percentage of total sales.
Sales/Audit Fees ® - Comparison of sales revenue to cost of audit.
Total Assets/Audit Fees ® - Comparison of total assets to audit fees.[Back to Top]
This represents a sample
of the subject company's filings at Companies House and in the London, Edinburgh
and Belfast Gazettes and Iris Oifiguil. All mortgage documents filed by the
company are displayed. One of each other filing is shown, with a maximum of
twenty.
Directors
Director's Appointment Date - Where the Appointment Date field includes the words "on or before" the date listed may not reflect the actual date of appointment of the Director or Company Secretary. This is because Companies House has advised that appointment dates before December 1992 refer to the date upon which the the appointment was first notified to Companies House. We would recommend a review of the original documents, through the filing history.
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Introduction
Companies registered in England and Wales sometimes create a mortgage or charge that must be registered. If so, they must deliver details of it, together with any document creating or giving evidence of it, to the Registrar of Companies in Cardiff.
1. What are mortgages
and charges?
A charge is security for the payment of a debt or other obligation that does
not pass 'property' or any right to possession to the person to whom the charge
is given.
A mortgage is security for the payment of a debt or other obligation that passes
'property' but no right to possession to the person to whom the mortgage is
given.
The following require registration in England and Wales:
A charge to secure any issue of debentures. A debenture is an instrument issued by a company as evidence of a debt or other obligation. It includes debenture stock, bonds and any other securities of a company, whether or not it forms a charge on the assets of the company.
A charge on uncalled share capital of the company. Uncalled share capital is the balance owing for shares that are issued partly paid.
A charge created or evidenced by an instrument, which, if executed by an individual, would require registration as a bill of sale. A bill of sale is an instrument creating or evidencing a charge or mortgage over goods, including fixtures and agricultural crops in certain cases, but not ships or aircraft.
A charge on land (wherever situated), or any interest in it, but not a charge for any rent or other periodical sum arising from land. Technically, land includes property.
A charge on book debts of the company. Book debts are debts that in the ordinary course of a company's business are commonly entered in its books.
A floating charge on the company's undertaking or property. A floating charge is a charge that does not affect the assets charged until some event crystallises the charge, fixing it to a certain point in time.
A charge on calls made but not paid. Calls made are demands for payment of any part of the balance owing in respect of shares which are issued partly paid.
A charge on a ship or aircraft or any share in a ship.
A charge on goodwill, or on a patent, trademark, registered design, copyright or design right or a licence under or in respect of any such right.
An 'instrument' is usually
a document in legible form but it can also exist in electronic form, 'evidence'
means to provide proof of the existence of something. Purpose Form Number
Particulars of a mortgage or charge 395*
Particulars for the registration of a charge to secure a series of debentures
397*
Particulars of an issue of secured debentures in a series 397a
Certificate of registration in Scotland or Northern Ireland of a charge comprising
property situated there 398
Particulars of a charge subject to which property has been Acquired 400*
Declaration of satisfaction in full or in part of a mortgage or charge 403a
Declaration that part of the property or undertaking charged: 403b
(a) has been released from the charge;
(b) no longer forms part of the company's property or undertaking
Notice of appointment of receiver or manager 405(1)
Notice of ceasing to act as receiver or manager 405(2)
* A registration fee is charged when filing these documents
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