MIRA INFORM REPORT

 

 

Report Date :

23.08.2007

 

IDENTIFICATION DETAILS

 

Name :

CHEMEX INTERNATIONAL LLP

 

 

Registered Office :

2 Stable Court, Beechwoods Elmete Lane, Roundhay, Leeds LS8 2LQ

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

12/02/2004

 

 

Com. Reg. No.:

OC306907

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

--

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Company Identification Details

 

 

Subject Reported on

CHEMEX INTERNATIONAL LLP

Registered Office

2 Stable Court, Beechwoods Elmete Lane, Roundhay, Leeds LS8 2LQ

 

 

 

Risk Score

Low Risk - There is a high degree of confidence this company will prove good for the assigned Credit Limit

 

 

 

Credit Limit

US Dollar   382,900

 

 

Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.

 

 

 

 

Contract Limit

US Dollar   382,900

 

 

Buying from this company? The Contract Limit is the recommended aggregate annual value for supply contracts.

 

 

 

Significant Event

 

PLEASE NOTE CHANGE OF ADDRESS

 

 

 

AMENDED LEGAL STRUCTURE

 

 

Official Company Data

 

 

 

Registration Number

OC306907

Date of Incorporation

12/02/2004

Registered Office

2 Stable Court, Beechwoods Elmete Lane, Roundhay, Leeds LS8 2LQ

Date of Last Annual Return to Registry

12/02/2007

Activities

NOT ASCERTAINED   

Accounts

The last filed accounts cover the period to 31/12/2005 and were filed on 10/05/2007

 

 

Recently Filed Documents

 

Details of the most recent documents

Date Received

Description

12/02/2007

Annual Return

31/12/2005

Financial Statement / Set of Accounts

 

It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.

 

Known Members

 

 

 

DIRECTOR

JIN LONG CORPORATION LTD  

  Occupation

 

  Address

C/O STABLE COURT BEECHWOODS ,  ELMETE LANE ROUNDHAY , LEEDS , WEST YORKSHIRE , LS8 2LQ

  Date of Birth

-

  Appointment Date

12/02/2004

DIRECTOR

SABERA CHEMICALS S A  

  Occupation

 

  Address

C/O 2 STABLE COURT BEECHWOODS ,  ELMETE LANE ROUNDHAY , LEEDS , WEST YORKSHIRE , LS8 2LQ

  Date of Birth

-

  Appointment Date

12/02/2004

 

 

Recently Resigned Members (last 3)

 

None

 

 

Share Summary

 

Share information is not held for this company.

 

 

Mortgages and Charges

 

There are no mortgages

 

 

 

 

 

Public Record Information

 

Summary of CCJ's/Scottish Decrees

 

There are no unsatisfied CCJs against the company.

 

 

Operations

 

 

 

Activities

NOT ASCERTAINED   

Sic Code

Description

 

 

Staff Employed

 

Auditors

Garbutt & Elliott Ltd

Auditors Notes

No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the latest accounts.

 

 

Financial Data

 

The following figures are shown in units of 000

 

Profit and Loss

 

Number of Weeks

52

52

Accounts Date

31/12/2005

31/12/2004

Currency

US Dollar

US Dollar

Consolidated?

No

No

SALES

27,640

2,190

Other operating income

48

-

Cost of goods sold

24,801

2,190

GROSS PROFIT

2,839

0

Net Operating Profit(Loss)

2,887

-34

Non Trading Income

1

-

Total Non Trading Income

1

0

Financial Expenses

0

0

PRE TAX PROFIT

2,888

-34

PROFIT AFTER TAX

2,888

-34

Net Profit

2,888

-

Dividends Payable

0

0

RETAINED PROFITS

2,888

-

 

Balance Sheet

 

Number of Weeks

52

52

Accounts Date

31/12/2005

31/12/2004

Currency

US Dollar

US Dollar

Consolidated?

No

No

TOTAL FIXED ASSETS

0

0

TOTAL CURRENT ASSETS

11,500

780

 Trade Debtors

11,097

746

 Cash

404

-

TOTAL ASSETS

11,500

780

TOTAL CURRENT LIABILITIES

8,646

780

 Trade Creditors

8,632

777

 Accruals & deferred income

13

-

WORKING CAPITAL

2,855

0

TOTAL LONG TERM LIABS

2,854

0

 Other Long Term Liabilities

2,854

-

NET ASSETS/(LIABILITIES)

2,855

0

SHARE CAPITAL + RESERVES

0

0

 Issued Share Capital

0

0

 Profit and Loss account

0

0

SHAREHOLDERS FUNDS

0

0

CAPITAL EMPLOYED

2,854

0

TANGIBLE NET WORTH

0

0

 

 

Key Credit Ratios

 

 

Accounts Date

31/12/2005

31/12/2004

Current Ratio

1.33

1.00

Profit Before Tax

0.10

-0.02

Creditors Days (D.P.O)

127.04

129.50

Quick Ratio

-

-

T.N.W/Total Assets

0.00

0.00

Return on Capital

101.19

NaN

Working Capital/Sales

0.00

0.00

Equity Gearing

0.00

-

Stock Turnover

0.00

0.00

 

 

 

Financial Summary

 

Turnover

Turnover increased by more than 1162% in the period. Turnover totaled US Dollar  27,640,000 for the period.

Operating Profit

Totaled US Dollar  2,887,000 In the period prior a loss of US Dollar   34,000 was achieved.

Pre Tax

The subject made a profit of US Dollar  2,888,000 compared with a loss of US Dollar  34,000 in the previous period.

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions