Level 3-Comprehensive Credit Rating Report : Supplied on 16/01/2004
Attention: EUROGATE
Reference: EUROGATE REPORT
Company Identification Details
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Subject Reported on : BROMPTON BICYCLE LIMITED
Registered Number : 01261512
Address : KEW BRIDGE DISTRIBUTION CENTRE, LIONEL ROAD
SOUTH, BRENTFORD, MIDDLESEX, TW8 9QR.
Telephone : 02082328484
Creditline Recommendations
~~~~~~~~~~~~~~~~~~~~~~~~~~
Graydon Rating : 4A
GBP 1m-5m financial strength rating based on net
worth plus net current assets/liabilities
Monthly Credit Guide : GBP 100,000
Risk Category : LOW RISK
Official Company Data
~~~~~~~~~~~~~~~~~~~~~
Legal Form : Private Limited
Registration Number : 01261512
VAT Number : GB646228334
Date of Incorporation : 03/06/1976
Registered Office : ROWAN HOUSE, NEW LA HILL TILEHURST, READING,
BERKSHIRE, RG30 4JJ.
History : 26/01/2000 The Registered Office address changed
from ROWAN HOUSE, NEW LANE HILL, READING, RG3
4JJ.
02/02/1994 The Registered Office address changed
from MARINERS, BRADFIELD, BERKSHIRE, RG7 6HU.
Date of Last Annual
Return to Registry : 14/12/2003
Registered Objectives : TO CARRY ON BUSINESS AS TO ACQUIRE PATENTS
BREVETS
Accounts : The last filed accounts at Companies House
are those to 31/03/2003
Known Directors
~~~~~~~~~~~~~~~
Director : TIMOTHY WHITMORE NEWTON GUINNESS
Address : 19 LORD NORTH STREET, WESTMINSTER, LONDON, SW1P
3LD.
Country of Origin : UNITED KINGDOM
Other Directorships : GUINNESS ATKINSON ASSET MANAGEMENT, LLC,
GROCERS'TRUST COMPANY LIMITED(THE), FRANKRATE
LIMITED, S.R. PAN-EUROPEAN INVESTMENT TRUST PLC,
GFEIT SECURITIES LIMITED, INVESTEC EXTRA INCOME
TRUST PLC, NEW BOATHOUSE CAPITAL LIMITED
INVESTEC HIGH INCOME TRUST PLC, INVESTEC HIGH
INCOME SECURITIES PLC, INVESTEC HIGH INCOME
TRADING LIMITED, SR EUROPE INVESTMENT TRUST PLC.
Director : CHRISTOPHER DUDLEY STEWART SMITH
Subject Reported on : BROMPTON BICYCLE LIMITED
Address : 52 WESTBOURNE TERRACE, LONDON, W2 3UJ.
Country of Origin : UNITED KINGDOM
Other Directorships : GARTMORE SNT PLC, GROCERS'TRUST COMPANY
LIMITED(THE), DESIGNED INTERIORS LIMITED,
GROCERS' PROPERTY COMPANY LIMITED, CAUTLEY
LIMITED, GSNT SECURITIES LIMITED, COURT BASED
PERSONAL SUPPORT
Secretary : MR ANDREW WILLIAM RITCHIE
Address : 53 EGERTON GARDENS, LONDON, SW3 2DA.
Country of Origin : UNITED KINGDOM
Director : MR ANDREW WILLIAM RITCHIE
Address : 53 EGERTON GARDENS, LONDON, SW3 2DA.
Country of Origin : UNITED KINGDOM
Share Capital
~~~~~~~~~~~~~
Shares : Ordinary GBP 1.00
Issued Number : 49,148
Principal Shareholder : 20,220 Shares A.W. Ritchie
4,294 Shares S. Ritchie
3,130 Shares A.A.M. Fraser
2,000 Shares Roger Maran
2,000 Shares T.W.N. Guinness
2,000 Shares P.A. Costley White
1,699 Shares Barry Baker
1,000 Shares C.D. Stewart-Smith
1,000 Shares D. Pearce Higgins
1,000 Shares N. Ouroussof
The above reflects the principal shareholder(s) by number of shares held,
irrespective of share classification type.
Public Record Information
~~~~~~~~~~~~~~~~~~~~~~~~~
Summary of CCJs/Scottish Decrees since January 2002
Number of CCJs/Decrees : 0
Total Amount of CCJs/Decrees : GBP 0
Payment Analysis
~~~~~~~~~~~~~~~~
No Payment Analysis Data is Available.
To contribute sales ledger information to Graydon, please contact Specialist
Product Division - mail@graydon.co.uk
Subject Reported on : BROMPTON BICYCLE LIMITED
Operations
~~~~~~~~~~
Activities : The development, manufacture and sale of the
'Brompton' folding bicycle.
Nace Code : 3542 (1992)
Premises : Leased, Offices, Factory.
Staff Employed : 18
Product Names : BROMPTON.
Import countries : EUROPE.
Export countries : ALL OVER THE WORLD.
Branches : KEW BRIDGE DISTRIBUTION CENTRE LIONEL ROAD SOUTH
BRENTFORD MIDDLESEX TW8 9QR
Bankers : LLOYDS BANK PLC, LONDON.
Auditors : John S. Morris
Financial Data
~~~~~~~~~~~~~~
Profit & Loss Account
~~~~~~~~~~~~~~~~~~~~~
The following figures are shown in 000's
Number of weeks 52 52 52 52
31/03/2003 31/03/2002 31/03/2001 31/03/2000
Currency GBP GBP GBP GBP
SALES 3092 2467 2635 2047
UK sales 1388 1004 951 770
Export 1704 1463 1684 1277
Cost of goods sold 1830 1546 1663 1233
GROSS PROFIT 1262 921 972 814
Directors Emoluments 85 129 72 25
Auditors Fees 3 3 1 1
Trading Profit 473 251 364 318
Depreciation 108 139 116 112
OPERATING PROFIT 365 112 248 206
Non Trading Income 11 17- 16 18
Interest payable 5
PRE TAX PROFIT 376 95 264 219
Taxation 63 28 60 47
PROFIT AFTER TAX 313 67 204 172
Dividends Payable 67 59 59 49
RETAINED PROFITS 246 8 145 123
Balance Sheet
~~~~~~~~~~~~~
The following figures are shown in 000's
Number of weeks 52 52 52 52
31/03/2003 31/03/2002 31/03/2001 31/03/2000
Currency GBP GBP GBP GBP
TOTAL FIXED ASSETS 164 168 201 396
Tangible Assets 164 168 201 396
Fixed Assets 164 168 201 264
Intermediate assets 132
Subject Reported on : BROMPTON BICYCLE LIMITED
TOTAL CURRENT ASSETS 1769 1606 1526 935
Trade debtors 146 99 110 127
Stocks 1180 1085 669 680
Other Current Assets 443 422 747 128
Misc. Current Assets 55 108 162 84
Cash 388 314 585 44
TOTAL ASSETS 1933 1774 1727 1331
TOTAL CURRENT LIABILITIES 426 513 480 289
Trade creditors 176 186 182 54
Other Liabilities 250 327 298 235
WORKING CAPITAL 1343 1093 1046 646
NET ASSETS/(LIABILITIES) 1507 1261 1247 1042
SHARE CAPITAL & RESERVES
Share Cap. & Sundry Res. 167 167 161 200-
Issued Share Capital 49 49 49 47
Sundry Reserves 118 118 112 247-
Profit and Loss account 1340 1094 1086 1242
SHAREHOLDERS FUNDS 1507 1261 1247 1042
CAPITAL EMPLOYED 1507 1261 1247 1042
Financial Comparison
~~~~~~~~~~~~~~~~~~~~
The following Profit/Loss & Balance sheet figures are shown in 000's
Number of weeks 52 52 52 52
31/03/2003 31/03/2002 31/03/2001 31/03/2000
Currency GBP GBP GBP GBP
Directors Remuneration 85 129 72 25
Auditors Remuneration 3 3 1 1
Liquid Assets 534 413 695 171
Net Working Capital 1343 1093 1046 646
Tangible Net Worth(T.N.W) 1507 1261 1247 1042
Equity 1507 1261 1247 1042
Number of Years Trading 27 26 25 24
Key Credit Ratios
~~~~~~~~~~~~~~~~~
31/03/2003 31/03/2002 31/03/2001 31/03/2000
Current Ratio 4.2 3.1 3.2 3.2
Profit before Tax % 12.2 3.9 10.0 10.7
Gross Profit % 40.8 37.3 36.9 39.8
Debtors Days (D.S.O) 17 15 15 23
Creditors Days (D.P.O) 21 28 25 10
Quick Ratio 1.4 1.0 1.8 0.9
W.I.P/Inventory Days 235.4 256.2 146.8 201.3
Subject Reported on : BROMPTON BICYCLE LIMITED
Return on Investment % 25.0 7.5 21.2 21.5
Return on Assets % 19.5 5.4 15.3 16.5
Growth % 25.3 6.4- 28.7
T.N.W/Total Assets % 78.0 71.1 72.2 78.3
Return on Capital % 25.0 7.5 21.2 21.0
Rtn on Shareholders Funds% 25.0 7.5 21.2 21.0
Working Capital/Sales % 43.4 44.3 39.7 31.6
Equity Gearing % 353.8 245.8 259.8 360.6
Stock Turnover 2.6 2.3 3.9 3.0
Days Purchases Outstanding 35.1 43.9 39.9 16.0
Key Industry Sector Trends
~~~~~~~~~~~~~~~~~~~~~~~~~~
Year 2002 2001 2000 1999
Sample Size 99 103 90 92
1) Pre-Tax Profit Margin 1.3- .8 2.9- 10.2-
2) Current Ratio 1.3 1.2 1.2 1.3
3) Borrowing Ratio 30.7- 13.7- 26.4- 75.1-
4) Return on Capital 14.6 26.3 28.7 34.9
5) Creditors Days 39.0 48.0 53.0 63.0
Above figures relate to companies in 1992 Standard Industry Classification
(Nace) sector : Manufacture of motorcycles and bicycles
Financial Summary
~~~~~~~~~~~~~~~~~~
Turnover Turnover increased by 25 % in the period and now
totals GBP 3,092,000.
Operating Profit Totalled GBP 365,000. In the year prior a Profit
of GBP 112,000 was achieved.
Pre-Tax Profit The subject's profit increased by 295 % in the
year.
Working Capital The company's working capital has increased by 23
% in the period.
Fixed Assets The subject's fixed assets reduced during the
year by GBP 4,000 to GBP 164,000 and are now 8 %
of total assets compared with 9 % in the previous
year.
*** End of report on BROMPTON BICYCLE LIMITED ***