MIRA
INFORM REPORT
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Report Date : |
08.08.2007 |
IDENTIFICATION DETAILS
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Name : |
ICELANDIC COMMODITIES EXPORTS LIMITED |
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Registered Office : |
25 Parbury Rise, Chessington, |
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Country : |
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Financials (as on) : |
30.09.2006 |
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Date of Incorporation : |
09/09/1999 |
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Com. Reg. No.: |
03838764 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Business Services, not elsewhere ascertained. |
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 : |
Usually correct |
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Litigation : |
Clear |
Company
Identification Details
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Subject Reported on |
ICELANDIC COMMODITIES EXPORTS LIMITED |
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Registered Office |
25 Parbury Rise, Chessington, |
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Average Risk - This company has an average risk status and
should be treated with a degree of caution |
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Credit Limit |
Selling to this company? The Credit Limit is the recommended
maximum outstanding debtor exposure at any one time. |
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Contract Limit |
Buying from this company? The Contract Limit is the
recommended aggregate annual value for supply contracts. |
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Significant Event
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PLEASE NOTE CHANGE OF ADDRESS |
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PLEASE NOTE CHANGE OF ADDRESS |
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Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
03838764 |
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Date of Incorporation |
09/09/1999 |
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Registered Office |
25 Parbury Rise, Chessington, |
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Date of Last Annual Return to Registry |
09/09/2005 |
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Activities |
Business Services, not elsewhere ascertained.
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Accounts |
The last filed accounts cover the period to 30/09/2006 and
were filed on 09/11/2006 |
Recently Filed
Documents
Details of the most recent documents
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Date
Received |
Description |
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09/09/2005 |
Annual Return |
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30/09/2006 |
Financial Statement / Set of Accounts |
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It should be noted that there is no legal requirement to
file satisfaction details of mortgages/charges at Companies House. |
Known Directors
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
25, PARBURY RISE , CHESSINGTON , |
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Country of Origin |
ICELANDIC |
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Date of Birth |
23/02/1953 |
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Appointment Date |
29/10/1999 |
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Other Appointments |
ICELANDIC COMMODITIES EXPORTS LIMITED |
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DIRECTOR |
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Occupation |
IMPORT & EXPORT |
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Address |
25, PARBURY RISE , CHESSINGTON , |
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Country of Origin |
ICELANDER |
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Date of Birth |
29/07/1960 |
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Appointment Date |
15/01/2007 |
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Other Appointments |
ICELANDIC COMMODITIES EXPORTS LIMITED |
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DIRECTOR |
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Occupation |
IMPORT & EXPORT |
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Address |
25, PARBURY RISE , CHESSINGTON , |
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Country of Origin |
ICELANDER |
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Date of Birth |
10/10/1988 |
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Appointment Date |
15/01/2007 |
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Other Appointments |
ICELANDIC COMMODITIES EXPORTS LIMITED |
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SECRETARY |
MS IRIS KHOO |
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Address |
25 PARBURY RISE, , CHESSINGTON , |
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Country of Origin |
ICELANDIC |
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Date of Birth |
10/10/1988 |
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Appointment Date |
15/01/2007 |
Recently Resigned
Directors (last 3)
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DIRECTOR |
RICHARD NEOH |
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Address |
88 , |
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Date of Birth |
01/06/1947 |
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Resignation Date |
15/09/2002 |
Share Summary
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
%age |
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Gilbert Khoo |
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80.00 |
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Richard Neoh |
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20.00 |
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Mortgages and Charges
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There are no mortgages |
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Public Record
Information
Summary of CCJ's/Scottish Decrees
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There are no unsatisfied CCJs against the company. |
Operations
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Activities |
Business Services, not elsewhere ascertained.
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Sic Code |
Description |
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7484 |
Other business activities not elsewhere classified |
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Staff Employed |
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Auditors |
Richard Benjamin & Co |
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Auditors Notes |
No Qualification. The Auditors have expressed a clean
opinion (i.e. unqualified with no referrals) on the latest accounts. |
Financial Data
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The following figures are shown in units of 000 |
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Profit and Loss |
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
30/09/2006 |
30/09/2005 |
30/09/2004 |
30/09/2003 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Consolidated? |
No |
No |
No |
No |
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SALES |
73 |
24 |
38 |
29 |
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Other operating income |
0 |
0 |
- |
- |
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Cost of goods sold |
56 |
20 |
23 |
14 |
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GROSS PROFIT |
18 |
5 |
15 |
15 |
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General administration costs (-) |
17 |
11 |
16 |
6 |
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Wages and Salaries |
7 |
6 |
- |
- |
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Depreciation |
1 |
1 |
1 |
1 |
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Net Operating Profit(Loss) |
1 |
-6 |
-1 |
9 |
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Total Non Trading Income |
0 |
0 |
0 |
0 |
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Interest expenses & similar (-) |
0 |
1 |
- |
- |
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Financial Expenses |
0 |
1 |
0 |
0 |
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PRE TAX PROFIT |
0 |
-7 |
-1 |
9 |
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PROFIT AFTER TAX |
0 |
-7 |
-1 |
9 |
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Net Profit |
0 |
- |
- |
9 |
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Dividends Payable |
0 |
0 |
0 |
10 |
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RETAINED PROFITS |
0 |
- |
- |
-1 |
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Balance Sheet |
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
30/09/2006 |
30/09/2005 |
30/09/2004 |
30/09/2003 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
2 |
3 |
1 |
2 |
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Plant, machinery & equipment |
2 |
3 |
1 |
2 |
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TOTAL CURRENT ASSETS |
20 |
17 |
12 |
2 |
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Stocks |
16 |
17 |
12 |
2 |
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Other Receivables |
0 |
0 |
0 |
0 |
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Cash |
3 |
- |
- |
0 |
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TOTAL ASSETS |
22 |
19 |
13 |
3 |
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TOTAL CURRENT LIABILITIES |
34 |
31 |
15 |
1 |
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Trade Creditors |
19 |
16 |
10 |
0 |
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Loans From Principals |
12 |
11 |
- |
- |
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Taxes |
2 |
2 |
- |
0 |
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WORKING CAPITAL |
-14 |
-15 |
-2 |
0 |
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TOTAL LONG TERM LIABS |
0 |
0 |
4 |
7 |
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NET ASSETS/(LIABILITIES) |
-12 |
-12 |
-1 |
2 |
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SHARE CAPITAL + RESERVES |
-12 |
-12 |
-5 |
-5 |
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Issued Share Capital |
0 |
0 |
0 |
0 |
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Profit and Loss account |
-12 |
-12 |
-5 |
-5 |
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SHAREHOLDERS FUNDS |
-12 |
-12 |
-5 |
-5 |
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CAPITAL EMPLOYED |
-12 |
-12 |
-1 |
2 |
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TANGIBLE NET WORTH |
-12 |
-12 |
-5 |
-5 |
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Key Credit Ratios |
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Accounts Date |
30/09/2006 |
30/09/2005 |
30/09/2004 |
30/09/2003 |
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Current Ratio |
0.59 |
0.55 |
0.80 |
2.00 |
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Profit Before Tax |
0.00 |
-0.29 |
-0.03 |
0.31 |
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Creditors Days (D.P.O) |
126.09 |
307.37 |
158.70 |
0.00 |
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Quick Ratio |
- |
- |
- |
- |
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Return on Assets |
0.00 |
-35.00 |
-7.69 |
225.00 |
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T.N.W/Total Assets |
-0.55 |
-0.63 |
-0.38 |
-1.67 |
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Return on Capital |
0.00 |
58.33 |
100.00 |
450.00 |
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Working Capital/Sales |
0.00 |
-0.01 |
0.00 |
0.00 |
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Equity Gearing |
- |
- |
-0.01 |
-0.01 |
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Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
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Financial Summary |
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Turnover |
Turnover increased by more than 204% in the period.
Turnover totaled GBP 73,000 for the period. |
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Operating Profit |
Totaled GBP 1,000 In the period prior a loss of GBP
6,000 was achieved. |
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Pre Tax |
The subject made a profit of GBP ,000 compared with
a loss of GBP 7,000 in the previous period. |
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Working Capital |
The company's working capital deficiency decreased in the
period and now stands at GBP 14,000 |
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Tangible Net Worth |
Net worth increased by ,000 during the period and now
stands at GBP -12,000 |
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Fixed Assets |
The subjects fixed assets reduced during the period by GBP
1,000 to GBP 2,000 and are now 9% of total assets compared with
16% in the previous 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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)