MIRA
INFORM REPORT
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Report Date : |
17th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
LIBERTY
COMMODITIES LIMITED |
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Registered Office : |
AMADEUS
HOUSE, FLORAL STREET, COVENT GARDEN, LONDON, WC2E 9DP |
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Country : |
United
Kingdom |
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Financials (as on) : |
30/06/2004 |
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Date of Incorporation : |
10/04/1997 |
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Com. Reg. No.: |
03349135 |
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Legal Form : |
Private
Limited |
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Line of Business : |
Traders
and shippers of international commodity |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company Identification Details
Subject Reported on LIBERTY COMMODITIES LIMITED
Address AMADEUS HOUSE, FLORAL STREET,
COVENT GARDEN, LONDON, WC2E 9DP.
Telephone 0207 812 7200
Creditline Recommendations
Rating GBP 20m-49m financial strength
rating based on net worth plus net
current assets/liabilities
Monthly Credit Guide GBP 150,000
Risk Category LOW NORMAL RISK
Official Company Data
Legal Form Private Limited
Registration Number 03349135
VAT Number GB709948684
Date of Incorporation 10/04/1997
Registered Office AMADEUS HOUSE, FLORAL STREET,
COVENT GARDEN, LONDON,
WC2E
9DP.
History 17/10/1997 : Change of name from LIBERTY MARINE
PRODUCTS
LIMITED.
23/06/1998 : The Registered Office address changed
from 494/500
NEASDEN
LANE NORTH, LONDON, NW10 0EA,.
31/05/2001 : The Registered Office address changed
from LIBERTY
HOUSE,
8 UPPER GROSVENOR STREET, LOND.
21/10/2004 : The Registered Office address changed
from 47
BELGRAVE
SQUARE, LONDON, SW1X 8QR.
4/05/2005 : The Registered Office address changed
from 1 JERMYN
STREET,
LONDON, SW1Y 4UH, SW1Y 4UH.
Previously located at LIBERTY HO, 8 UPPER GROSVENOR
ST,
LONDON,
W1X.
Previously located at 47 BELGRAVE SQUARE, LONDON,
SW1X 8QR.
Previously located at 1 Jermyn Street, London, SW1Y
4UH.
Date of Last Annual
Return to Registry 10/04/2005
Accounts The last filed accounts at
Companies House are those to 30/06/2004
Accounting Reference Date 30/06
Operations
Activities International commodity traders
and shippers.
Nace Code 5112
Premises Rented,Offices
Staff
Employed 26
Import Countries No Import Activity
Export Countries ALL OVER THE WORLD
Bankers KBC BANK N.V.
Address LONDON.
Sort Code 165487
Auditors H.W. Fisher & Co
Associated Companies LIBERTY
(EAST AFRICA) LIMITED
Public Record Information
Summary
of CCJ's/Scottish Decrees
Period Last
72 Months Last 36 Months Last 18 Months
Amount Summary 58,937 58,937 58,937
Count Summary 2 2 2
Unsettled Amount Summary 58,937 58,937 58,937
Details
of the most recent CCJ's/Scottish Decrees
Date Amount
Type Case No Satisfied
Court
21/04/2006 20,970 Judgment 6PH01269 POOLE
06/04/2006 37,967 Judgment 6QZ13483 NORTHAMPTON CCBC
Summary of Mortgages, Charges and
Satisfactions
Total Number of Mortgages/Charges Registered 35
Number Outstanding 19
Number Partially Satisfied 0
Number Satisfied 16
Date of Latest Mortgage Created 24/02/2006
Date of Latest Satisfaction 28/10/2005
Details of most recent Mortgages,
Charges and Satisfactions
Date
Fully
Satisfied Date
Registered Date
Created
Charge
Description
Form Type Lender
07/03/2006 24/02/2006 Security
Assignment 395 Kbc Bank N.V., London
Branch
10/02/2006 31/01/2006 Deed Of Charge Over Credit Balances 395 Barclays Bank Plc
10/02/2006 31/01/2006 Assignment Of Receivables 395 Barclays Bank
Plc
29/12/2005 22/12/2005 Charge Over Credit Balance 395 Bank
Leumi (Uk) Plc
29/12/2005 22/12/2005 Security Assignment 395 Bank Leumi (Uk) Plc
12/12/2005 07/12/2005 Charge 395 Kbc Bank N.V., London
Branch
25/10/2005 21/10/2005 Charge 395 Kbc Bank N.V. London
Branch
31/07/2004 16/07/2004 Trade Finance Security Agreement 395 Bnp
Paribas (Suisse) S.A.
07/01/2004 06/01/2004 Charge Over Cash Deposits 395 Bnp Paribas
07/01/2004 06/01/2004 Trade Finance Agreement 395 Bnp Paribas
It
should be noted that there is no legal requirement to file satisfaction details
of mortgages/charges at Companies House.
Other Filings and Notices
Date Source Description
19/04/2001 Companies House
Gazette Alteration in memorandum or
articles of association
19/04/2001 Companies House
Gazette Resolutions which give, vary,
revoke or renew an authority
for
the purposes of section 80
19/04/2001 Companies House
Gazette Special resolutions passed
under section 95 disapplication
of
pre-emption rights
20/10/1997 Companies House
Gazette Change among the directors of
a company
Company Secretary
Secretary SURINDER JOLLY
Address 67 BROWNLOW ROAD, LONDON, N11
2BJ.
Country of Origin UNITED KINGDOM
Date of Birth 01/05/1938
Appointment Date 10/04/1997
Directors
Director SANJEEV GUPTA
Address 155 MONTAGU MANSIONS, LONDON, W1U
6LB.
Country of Origin UNITED KINGDOM
Date of Birth 27/09/1971
Appointment Date 10/04/1997
Other Directorships LIBERTY HOUSE UK PUBLIC LIMITED
COMPANY, SHANGHAI EVERBRIGHT IMPORT & EXPORT COMPANY
LIMITED, LIBERTY (EAST AFRICA) LIMITED, LIBERTY FOOD PRODUCTS
LIMITED, INDUSTRIAL ENERGY LIMITED
Share Capital
Shares Ordinary GBP 1.00 Each.
Issued Number 6,672,641
Principal Shareholder 6,672,641 Liberty Commerce
(Holdings) Ltd
The
above reflects the principle shareholder(s) by number of shares held,
irrespective of share classification type.
Holding Company LIBERTY COMMERCE LIMITED
Ultimate Parent LIBERTY COMMERCE (HOLDINGS) LTD,
a company incorporated
in ISLE OF MAN
Payment Analysis
( No
Payment Analysis Data is Available )
Financial Data
For
annual accounts images, view the
Document Image list
Profit
and Loss
The
following figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 30/06/2004 30/06/2003 30/06/2002 30/06/2001
Currency USD USD USD USD
SALES 162611 166071 163371 189416
Cost of goods sold 155675 160581 156951 182202
GROSS PROFIT 6936 5490 6420 7214
Wages and Salaries 1688 1644 1885
Directors Emoluments 99 85 76
Auditors Fees 98 108 74 45
Trading Profit 274 591 1461 2436
Depreciation 152 86 99
OPERATING PROFIT 122 505 1362 2436
Non Trading Income 153 60 244 388
Interest Payable 192 76 925 1410
PRE TAX PROFIT 83 489 681 1414
Taxation 156 215 379 435
PROFIT AFTER TAX (73) 274 302 979
RETAINED PROFITS (73) 274 302 979
Balance
Sheet
The
following figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 30/06/2004 30/06/2003 30/06/2002 30/06/2001
Currency USD USD USD USD
TOTAL FIXED ASSETS 56 535 599
Tangible Assets 56 535 599
Fixed Assets 56 453 517
Intermediate assets 82 82
TOTAL CURRENT ASSETS 53548 33772 41944 32928
Trade debtors 23037 26917 31437 27020
Stocks 13493 5168 5834 4269
Other Current Assets 17018 1687 4673 1639
Misc Current Assets 424 325 359 1003
Due From Group 14479 3162 46
Cash 2115 1362 1152 590
TOTAL ASSETS 53604 34307 42543 32928
TOTAL CURRENT LIABILITIES 42011 22537 31030 27206
Trade creditors 10258 5740 14493 9256
Short Term Loans 30341 15893 15222 17316
Bank Overdraft 29650 15873 15145 10010
Other Finance 20 47
Due To Group 691 30 7306
Other Liabilities 1412 904 1315 634
WORKING CAPITAL 11537 11235 10914 5722
TOTAL LONG TERM LIABS 104 121
Long Term Loans 17
Other Finance 17
Other Liabilities 104 104
NET ASSETS/(LIABILITIES) 11593 11666 11392 5722
SHARE CAPITAL + RESERVES 11593 11666 11392 5722
Share Cap + Sundry Res 9753 9753 9753 4384
Issued Share Capital 9753 9753 9753 4384
Profit and Loss account 1840 1913 1639 1338
SHAREHOLDERS FUNDS 11593 11666 11392 5722
CAPITAL EMPLOYED 11593 11770 11513 5722
Financial
Comparison
The
following figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 30/06/2004 30/06/2003 30/06/2002 30/06/2001
Currency USD USD USD USD
Net Cashflow from Oper. (12880) 200 (9293) (1537)
Increase in Cash (13024) (518) (4574) (468)
Directors Remuneration 99 85 76
Auditors Remuneration 98 108 74 45
Liquid Assets 25152 28279 32589 27610
Net Working Capital 11537 11235 10914 5722
Long Term Debt(>12 Months) 17
Other Deferred Liabs 104 104
Tangible Net Worth(T.N.W) 11593 11666 11392 5722
Equity 11593 11666 11392 5722
Number of Years Trading 7 6 5 4
Number of Employees 26 30 37
Profit per Employee 3192.3 16300 18405.4
Sales per Employee 6254269.2 5535700 4415432.4
Key
Credit Ratios
The
following figures are shown as Ratios or Percentages
Accounts Date 30/06/2004 30/06/2003 30/06/2002 30/06/2001
Current Ratio 1.3 1.5 1.4 1.2
Pre Tax Profit Margin% 0.1 0.3 0.4 0.7
Gross Profit% 4.3 3.3 3.9 3.8
Debtors Days (D.S.O) 52 59 70 52
Creditors Days (D.P.O) 23 13 32 18
Quick Ratio 1 1.3 1.2 1.1
W.I.P/Inventory Days 31.6 11.7 13.6 8.6
Return on Investment% 0.7 2 6 12.3
Return on Assets% 0.2 1.4 1.6 4.3
T.N.W/Total Assets% 21.6 34 26.8 17.4
Return on Capital% 0.7 4.2 5.9 24.7
Rtn on Shareholders Funds% 0.7 4.2 6 24.7
Working Capital/Sales% 7.1 6.8 6.7 3
Borrowing Ratio% 261.7 136.2 133.8 302.6
Equity Gearing% 27.6 51.5 36.6 21
Stock Turnover 12.1 32.1 28 44.4
Days Purchases Outstanding 24.1 13 33.7 18.5
Key Industry Sector Trends
Year 2006 2005 2004 2003
Sample Size 173 8043 12245 11217
Pre-Tax Profit Margin 18.7 11.6 9 6.8
Current Ratio 1.8 1.6 1.5 1.5
Borrowing Ratio 0.2 68.3 61.5 83
Return on Capital 103.5 74.4 65 58.4
Creditors Days 62 99 123 133
Above
figures relate to companies in 1992 Standard Industry Classification (Nace)
sector : Wholesale on a fee or contract basis
Financial Summary
Auditors
Qualification
The
Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on
the accounts for the period ended 30/06/2004.
Turnover
Turnover
decreased by 2 % in the year.
Operating
Profit
Totalled
USD 122,000. In the year prior a Profit of USD 505,000 was achieved.
Pre
Tax Profit
The
subject's profit decreased by 83 % over the previous year.
Working
Capital
The
subject's working capital has improved by 302,000 in the period.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry
similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |