MIRA
INFORM REPORT
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Report Date : |
21st
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
GROSVENOR
HOUSE TRADING LIMITED |
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Registered Office : |
Dalton
House, 60 Windsor Avenue, London, Sw19 2rr. |
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Country : |
United
Kingdom |
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Financials (as on) : |
31/03/2005 |
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Date of Incorporation : |
18/02/1992 |
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Com. Reg. No.: |
02688352 |
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Legal Form : |
Private
Limited |
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Line of Business : |
Traders
of international steel |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company Identification Details
Subject Reported on GROSVENOR
HOUSE TRADING LIMITED
Address DALTON
HOUSE, 60 WINDSOR AVENUE, LONDON, SW19 2RR.
Telephone 0208 540 9995
Creditline Recommendations
Rating GBP 1m-5m financial strength
rating based on net worth plus net current
assets/liabilities
Monthly Credit Guide GBP 39,000
Risk Category NORMAL RISK
Official Company Data
Legal Form Private Limited
Registration Number 02688352
VAT Number GB697050805
Date of Incorporation 18/02/1992
Registered Office HALLSWELLE HOUSE, 1 HALLSWELLE
ROAD, LONDON, NW11 0DH.
History 21/04/2004 : The Registered Office address changed
from TUDOR HOUSE, LLANVANOR HOUSE, LONDON, NW2 2A.
7/03/1997 : Change of name from GH TRADING LIMITED.
1/05/1996 : The Registered Office address changed
from C/O ATKINS & PARTNERS, THIRD FLOOR, BRENT HOU.
1/04/1996 : Change of name from GROSVENOR HOUSE
TRADING LIMITED.
5/03/1992 : Change of name from EAGLEFLOW LIMITED.
Date of Last Annual Return
to Registry 18/02/2005
Accounts The last filed accounts at
Companies House are those to 31/03/2005
Accounting Reference Date 31/03
Operations
Activities International steel traders.
Nace Code 5152
Premises Rented,Offices
Staff Employed 3
Import Countries ALL OVER THE WORLD
Export Countries ALL OVER THE WORLD
Bankers LLOYDS TSB BANK PLC
Address WIMBLEDON ST GEORGE.
Sort Code 309966
Auditors Gerald Kreditor & Co
Subsidiaries G
H TRADING (LONDON) LIMITED
GPT STEEL INDUSTRIES (UK) LIMITED
Public Record Information
Summary
of CCJ's/Scottish Decrees
Summary of Mortgages, Charges and
Satisfactions
Total Number of Mortgages/Charges Registered 3
Number Outstanding 3
Number Partially Satisfied 0
Number Satisfied 0
Date of Latest Mortgage Created 29/10/2002
Details of most recent Mortgages,
Charges and Satisfactions
Date Fully
Satisfied Date
Registered Date
Created Charge
Description Form Type Lender
06/11/2002 29/10/2002 Trade Finance Security Agreement 395 Bnp
Paribas (Suisse)
S.A.
24/03/1997 12/03/1997 Trade Finance Security 395 United Overseas Bank
(Banque
Unie Pour Les
Pays
D'Outre-Mer)
27/06/1994 15/06/1994 Deposit Agreement 395 Lloyds 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
Date Source Description
05/04/2003 Companies House
Gazette Change among the directors of
a company
05/05/2000 Companies House
Gazette Alteration in memorandum or
articles of association
05/05/2000 Companies House
Gazette Resolutions which give, vary,
revoke or renew an authority
for
the purposes of section 80
15/05/1993 Companies House
Gazette Change among the directors of
a company
14/05/1993 Companies House
Gazette Change among the directors of
a company
11/03/1992 Companies House
Gazette Change among the directors of
a company
Company Secretary
Secretary MR BHARAT
AMRITLAL PARIKH
Address 179 COOMBE LANE, LONDON, SW20
0RG.
Country of Origin UNITED KINGDOM
Date of Birth 04/10/1946
Appointment Date 24/02/1992
Other Directorships DALTON HOUSE PROPERTIES
LIMITED, GPT STEEL INDUSTRIES (UK) LIMITED, CHELSEA (2005)
LIMITED, WIMBLEDON STEEL TRADERS LIMITED, OXBRIDGE IMPORT AND EXPORT
LIMITED, SW19 TRADING LIMITED
Directors
Director MRS ANURADHA PARIKH
Address 179 COOMBE LANE, LONDON, SW20
0RG.
Country of Origin UNITED KINGDOM
Date of Birth 16/03/1947
Appointment Date 30/03/1993
Other Directorships GPT STEEL INDUSTRIES (UK)
LIMITED, CHELSEA (2005) LIMITED, WIMBLEDON STEEL TRADERS
LIMITED, OXBRIDGE IMPORT AND EXPORT LIMITED, SW19 TRADING LIMITED
Accountant
MR BHARAT AMRITLAL PARIKH
Address 179 COOMBE LANE, LONDON, SW20
0RG.
Country of Origin UNITED KINGDOM
Date of Birth 04/10/1946
Appointment Date 01/03/2003
Other Directorships DALTON HOUSE PROPERTIES
LIMITED, GPT STEEL INDUSTRIES (UK) LIMITED, CHELSEA (2005)
LIMITED, WIMBLEDON STEEL TRADERS LIMITED, OXBRIDGE IMPORT AND EXPORT
LIMITED, SW19 TRADING LIMITED
Share Capital
Shares Ordinary GBP 1.00 Each.
Issued Number 100,000
Principal Shareholder 20,000 Bharat Amritlal
Parikh
20,000 B.A. Parikh
20,000 Anuradha Parikh
20,000 A. Parikh
9,000 Karuna Parikh
6,000 Nayantara Parikh
3,000 Danika Parikh
1,000 Rajen Amritlal Parikh
1,000 Rajen Parikh
The
above reflects the principle shareholder(s) by number of shares held,
irrespective of share classification type.
Payment Analysis
To
contribute sales ledger information to Graydon. please contact the Specialist
Product Division - mail@graydon.co.uk
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 31/03/2005 31/03/2004 31/03/2003 31/03/2002
Currency GBP GBP GBP GBP
SALES 51503 35418
Cost of goods sold 50195 33761
GROSS PROFIT 1308 1657 1799 403
Wages and Salaries 60 60 48 30
Directors Emoluments 60 60 48 24
Auditors Fees 6 5 5 2
Trading Profit 725 1206 1107 118
Depreciation 2 3 4 2
OPERATING PROFIT 723 1203 1103 116
Non Trading Income 1 1 37
Interest Payable 169 239 110 52
PRE TAX PROFIT 555 965 1030 64
Taxation 142 278 299 13
PROFIT AFTER TAX 413 687 731 51
Dividends Payable 250 10
RETAINED PROFITS 413 687 481 41
Balance
Sheet
The
following figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 31/03/2005 31/03/2004 31/03/2003 31/03/2002
Currency GBP GBP GBP GBP
TOTAL FIXED ASSETS 8 10 12 5
Tangible Assets 8 10 12 5
Fixed Assets 8 10 12 5
TOTAL CURRENT ASSETS 23958 16776 5001 1905
Trade debtors 19732 14800 4733 1682
Other Current Assets 4226 1976 268 223
Misc Current Assets 3225 27 110 100
Due From Group 84
Cash 1001 1949 158 39
TOTAL ASSETS 23966 16786 5013 1910
TOTAL CURRENT LIABILITIES 22305 15538 4452 1830
Trade creditors 16129 11884 1419 80
Short Term Loans 5633 2686 2310 1712
Bank Overdraft 5633 4 9 155
Bank Loans 2682 2301 1557
Other Liabilities 543 968 723 38
WORKING CAPITAL 1653 1238 549 75
NET ASSETS/(LIABILITIES) 1661 1248 561 80
SHARE CAPITAL + RESERVES 1661 1248 561 80
Share Cap + Sundry Res 100 100 50 30
Issued Share Capital 100 100 50 30
Profit and Loss account 1561 1148 511 50
SHAREHOLDERS FUNDS 1661 1248 561 80
CAPITAL EMPLOYED 1661 1248 561 80
Financial
Comparison
The
following figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 31/03/2005 31/03/2004 31/03/2003 31/03/2002
Currency GBP GBP GBP GBP
Net Cashflow from Oper. (3428) 1655 (132) (1582)
Increase in Cash (3895) 1791 119 15
Directors Remuneration 60 60 48 24
Auditors Remuneration 6 5 5 2
Liquid Assets 20733 16749 4891 1721
Net Working Capital 1653 1238 549 75
Tangible Net Worth(T.N.W) 1661 1248 561 80
Equity 1661 1248 561 80
Number of Years Trading 13 12 11 10
Number of Employees 2 2 2 2
Profit per Employee 277500 482500 515000 32000
Sales per Employee 25751500 17709000
Key
Credit Ratios
The
following figures are shown as Ratios or Percentages
Accounts Date 31/03/2005 31/03/2004 31/03/2003 31/03/2002
Current Ratio 1.1 1.1 1.1 1
Pre Tax Profit Margin% 1.1 2.7
Gross Profit% 2.5 4.7
Debtors Days (D.S.O) 140 153
Creditors Days (D.P.O) 114 122
Quick Ratio 1.1 1.1 1.1 1
Return on Investment% 9.9 30.6 39.7 6.5
Return on Assets% 2.3 5.7 20.5 3.4
T.N.W/Total Assets% 6.9 7.4 11.2 4.2
Return on Capital% 33.4 77.3 183.6 80
Rtn on Shareholders Funds% 33.4 77.3 183.6 80
Working Capital/Sales% 3.2 3.5
Borrowing Ratio% 339.1 215.2 411.8 2140
Equity Gearing% 7.4 8 12.6 4.4
Days Purchases Outstanding 117.3 128.5
Key Industry Sector Trends
Year 2006 2005 2004 2003
Sample Size 70 4109 6671 6488
Pre-Tax Profit Margin 4.4 4.8 4.1 3.3
Current Ratio 1.8 1.5 1.4 1.4
Borrowing Ratio 130.8 90.3 97.1 106.3
Return on Capital 35.9 31.6 30.5 27.4
Creditors Days 43 50 63 61
Above
figures relate to companies in 1992 Standard Industry Classification (Nace)
sector : Wholesale of non-agricultural intermediate products, waste and scrap
Financial Summary
Auditors
Qualification
The
Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on
the accounts for the period ended 31/03/2005.
Turnover
Turnover
increased by 45 % in the period and now totals GBP 51,503,000.
Operating
Profit
Totalled
GBP 723,000. In the year prior a Profit of GBP 1,203,000 was achieved.
Pre
Tax Profit
The
subject's profit decreased by 42 % over the previous year.
Working
Capital
The
company's working capital has increased by 34 % in the period.
*** End of Report on
GROSVENOR HOUSE TRADING LIMITED ***
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 |