MIRA
INFORM REPORT
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Report Date : |
30.05.2007 |
IDENTIFICATION DETAILS
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Name : |
J FOX SOX LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.01.2006 |
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Date of Incorporation : |
24/05/1996 |
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Com. Reg. No.: |
03203480 |
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Legal Form : |
Private Limited |
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Line of Business : |
Textile Agents. |
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 J FOX SOX LIMITED
Address
7DJ.
Telephone 0161 370 0888
Creditline Recommendations
Risk Category NORMAL RISK
Official Company Data
Legal Form Private Limited
Registration
Number 03203480
VAT Number GB707990309
Date of
Incorporation 24/05/1996
Registered Office
History 6/07/2002 : The Registered Office address changed
from UNITS 1-7
23/08/2000 : The Registered Office address changed
from
CHEADLE,
14/07/1999 : Change of name from J AMBICA LIMITED.
Date of Last
Annual
Return to Registry
24/05/2006
Accounts The last filed
accounts at Companies House are those to 31/01/2006
Accounting
Reference
Date 31/01
Operations
Activities Textile Agents.
Nace Code 5116
Premises Leased, Warehouse
Staff Employed 10
Import Countries ALL OVER THE WORLD
Export Countries No Export Activity
Bankers HSBC BANK PLC
Address
Sort Code 403124
Auditors DBF Associates
Branches 2A
Public Record
Information
Summary of
CCJ's/Scottish Decrees
No CCJs/Scottish Decrees are recorded in our file.
Summary of Mortgages,
Charges and
Satisfactions
Total Number of
Mortgages/Charges Registered 2
Number Outstanding
2
Number Partially
Satisfied 0
Number Satisfied 0
Date of Latest
Mortgage Created 16/04/2002
Details of most
recent Mortgages,
Charges and
Satisfactions
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Date Fully |
Date |
Date |
Charge |
Form Type |
Lender |
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17/04/2002 |
16/04/2002 |
Fixed Charge On Purchased Debts Which Fail
To Vest |
395 |
Hsbc Invoice Finance ( |
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09/02/2000 |
07/02/2000 |
Debenture |
395 |
Hsbc 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
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Date |
Source |
Description |
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03/04/2001 |
Companies House Gazette |
Change among the directors of a company |
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08/03/2000 |
Companies House Gazette |
Change among the directors of a company |
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25/08/1999 |
Companies House Gazette |
Change among the directors of a company |
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13/06/1996 |
Companies House Gazette |
Alteration in memorandum or articles of
association |
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13/06/1996 |
Companies House Gazette |
Resolutions which give, vary, revoke or
renew an authority for the purposes of section 80 |
Company Secretary
Secretary JAYSHREE
SURYAPRAKASH RAO
Address
Country of Origin UNITED KINGDOM
Date of Birth 26/11/1960
Appointment Date 24/05/1996
Other
Directorships J AMBICA LIMITED
Directors
Director JAYSHREE SURYAPRAKASH RAO
Address
Country of Origin UNITED KINGDOM
Date of Birth 26/11/1960
Appointment Date 19/08/1999
Other Directorships J AMBICA LIMITED
Director ASHWIN
SURYAPRAKASH RAO
Address
Country of Origin UNITED KINGDOM
Date of Birth 17/08/1955
Appointment Date 24/05/1996
Other Directorships J AMBICA LIMITED
Share Capital
Shares Ordinary GBP 1.00
Issued Number 50,000
Principal
Shareholder 16,667 Urmilaben
Suryaprakash Rao
16,667 Jayshree
Suryaprakash Rao
16,666 Jayshree
Ashwin Rao
The above reflects
the principle shareholder(s) by number of shares held, irrespective of share
classification type.
Payment Analysis
(No Payment Analysis Data is Available)
Financial Data
Profit & Loss Accounts
are not available for companies categorised as small companies under the
companies act.
Balance Sheet
The following
figures are shown in units of 1000
Number of Weeks 65 52 52 52
Accounts Date 31/01/2006 31/10/2004 31/10/2003 31/10/2002
Currency GBP GBP GBP GBP
TOTAL FIXED ASSETS 65 53 62 63
Tangible Assets 65 53 62 63
TOTAL CURRENT
ASSETS 945 1937 1816 1602
Trade debtors 315 1131 1203 776
Stocks 630 698 584 700
Other Current
Assets 108 29 126
Cash 108 29 126
TOTAL ASSETS 1010 1990 1878 1665
TOTAL CURRENT
LIABILITIES 415 1393 1303 1166
Trade creditors 414 1393 1303 1166
Short Term Loans 1
Bank Overdraft 1
WORKING CAPITAL 530 544 513 436
TOTAL LONG TERM
LIABS 246 278 304 310
NET
ASSETS/(LIABILITIES) 349 319 271 189
SHARE CAPITAL +
RESERVES 349 319 271 189
Share Cap + Sundry
Res 50 50 50 50
Profit and Loss
account 299 269 221 139
SHAREHOLDERS FUNDS 349 319 271 189
CAPITAL EMPLOYED 595 597 575 499
Financial
Comparison
The following
figures are shown in units of 1000
Number of Weeks 65 52 52 52
Accounts Date 31/01/2006 31/10/2004 31/10/2003 31/10/2002
Currency GBP GBP GBP GBP
Liquid Assets 315 1239 1232 902
Net Working
Capital 530 544 513 436
Other Deferred
Liabs 246 278 304 310
Tangible Net
Worth(T.N.W) 349 319 271 189
Equity 349 319 271 189
Number of Years
Trading 10 8 7 6
Key Credit Ratios
The following
figures are shown as Ratios or Percentages
Accounts Date 31/01/2006 31/10/2004 31/10/2003 31/10/2002
Current Ratio 2.3 1.4 1.4 1.4
Quick Ratio 0.8 0.9 0.9 0.8
T.N.W/Total
Assets% 34.6 16 14.4 11.4
Borrowing Ratio% 0.3
Equity Gearing% 52.8 19.1 16.9 12.8
Key Industry Sector
Trends
Year 2007 2006 2005 2004
Sample Size 81 7663 12678 12367
Pre-Tax Profit
Margin 10.6 11.6 9.3 8.7
Current Ratio 1.8 1.6 1.5 1.5
Borrowing Ratio (68.3) 66.1 70 62.3
Return on Capital 10.1 69 62.3 62.7
Creditors Days 124 223 320 141
Above figures
relate to companies in 1992 Standard Industry Classification (Nace) sector :
Wholesale on a fee or contract basis
Financial Summary
Auditors
Qualification
The company has taken advantage of exemptions under the Companies Act such that the accounts have not been audited or examined.
No Turnover
The company's balance sheet total is less than GBP 2,800,001 and therefore this is a small company as defined by the Companies Act.It is not required to disclose turnover but it is likely to be less than GBP 5,600,000.
No Pre-Tax Profit
The Company is exempt from the requirement to file a Profit Loss Account. We note that the difference on the Shareholders Funds shown on the Balance Sheet is GBP 30,000 increase. This suggests that the Company may have made a post-tax profit of GBP 30,000.
Working Capital
The company's working capital remains positive but reduced by 3 % in the period.
Net Worth
Net worth has increased by 9 % and now stands at GBP 349,000.
Fixed Assets
The subject's fixed assets increased during the year by GBP 12,000 to GBP 65,000 and are now 6 % of total assets compared with 2 % in the previous year.
Long Term Liabilities
The company's long term liabilities reduced during the period by 11 % and are now 70 % of net worth compared with 87 % in the previous period.
Long Term
Liabilities
Long term liabilities are now 24 % of total liabilities compared with 14 % in the previous period.
Long Term
Liabilities
Long term liabilities are 41 % of capital employed, a decrease of 6 % over 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%)