MIRA
INFORM REPORT
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Report Date : |
25.08.2007 |
IDENTIFICATION DETAILS
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Name : |
MELTON IMPORTS LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
13/01/2006 |
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Com. Reg. No.: |
05674587 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Importers, exporters, distributors & wholesalers of builders
hardware and general ironmongery |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company
Identification Details
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Subject Reported on |
MELTON IMPORTS LIMITED |
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Trading Address |
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Telephone |
01274-299264 |
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Facsimile |
01274-495013 |
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Credit Limit |
£10,000 |
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Selling to this company? The Credit Limit is the
recommended maximum outstanding debtor exposure at any one time. |
Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
05674587 |
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Date of Incorporation |
13/01/2006 |
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Registered Office |
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Date of Last Annual Return to Registry |
13/01/2007 |
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Activities |
Importers, exporters, distributors & wholesalers of builders
hardware and general ironmongery |
Recently Filed
Documents
Details of the most recent documents
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Date
Received |
Description |
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13/01/2007 |
Annual Return |
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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 |
ADMINISTRATOR |
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Address |
22, SHERWELL RISE ALLERTON , BRADFORD
, WEST |
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Date of Birth |
15/11/1980 |
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Appointment Date |
10/07/2006 |
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Other Appointments |
EXTRATRADE ( |
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SECRETARY |
MS SARAH DIN |
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Address |
15 WOODROYD TERRACE, , BRADFORD , WEST |
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Country of Origin |
BRITISH |
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Date of Birth |
11/10/1979 |
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Appointment Date |
17/08/2006 |
Recently Resigned
Directors (last 3)
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DIRECTOR |
ENERGIZE DIRECTOR LIMITED - |
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Address |
31 , |
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Resignation Date |
24/01/2006 |
Share Summary
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This Issued Share Capital is 2 Ordinary Shares of £1 each.
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
%age |
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Hajra Khan |
£1 Ordinary |
1 |
£1 |
50.00 |
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Subodh Kumar Sharma |
£1 Ordinary |
1 |
£1 |
50.00 |
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Mortgages and Charges
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Total Registered |
1 |
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Total Outstanding |
1 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
11/07/2006 |
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Date Registered |
15/07/2006 |
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Type |
395 |
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Date Created |
11/07/2006 |
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Lender |
REGENCY FACTORS PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED
INSTRUMENT CREATING OR EVIDENCING THE CHARGE |
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Details |
FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL
PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED
CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE
DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
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 |
Importers, exporters, distributors & wholesalers of
builders hardware and general ironmongery |
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Sic Code |
Description |
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9305 |
Other service activities not elsewhere classified |
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Bankers |
Barclays Bank PLC |
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Sort Codes |
204514 |
OVERVIEW
The subject Company was incorporated approximately eighteen months ago, it is privately owned, its issued share capital is minimal, the Company is not yet required to file its first set of accounts. In an effort to obtain a fuller disclosure of affairs direct contact was made with the Company and we spoke with the sole Director Mr Hajra Khan.
It was explained that the principal activity of the Company was the import and distribution by wholesale of brass, iron, aluminium and antique hardware. Imports are made from several countries and continents, goods are mostly ordered on a full pallet basis, the goods are then delivered by the transport company to a warehouse premises located in Northside Road, Allerton, Bradford, these premises are leased, the business is actually administered from the headed address which is essentially a leased office.
Most of the supplies are made to major retail outlets such as Homebase, B & Q, Wilkinsons etc, supplies are made to those outlets by secured pallets. The Company currently has five members of staff, first year accounts are about to be filed, first year turnover was in the region of £110,000.
The Company utilizes the services of a Factoring Company to aid cash-flow, normally the overseas suppliers are paid on 60 day terms, Mr Khan stated that as a minimum an overseas supplier would required a minimum credit limit of £10,000, that would purchase approximately a half a container load, that being the minimum load ordered.
Regretfully further financial information was declined, however pending sight of first year accounts we have no reason to doubt this business for its normal credit requirements since nothing adverse relating to the business is on file, the minimal credit limit of £10,000 for an overseas supplier is therefore considered to be an acceptable commercial risk.
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. |
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%)