MIRA
INFORM REPORT
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Report Date : |
21.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
GLOBAL METCORP LIMITED |
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Registered Office : |
20 Leigh Ct Byron Hill Rd Harrow Middlesex HA2 0HZ |
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Country : |
United Kingdom |
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Financials (as on) : |
31.08.2006 |
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Date of Incorporation : |
30.08.2001 |
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Com. Reg. No.: |
04278981 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Scrap Exporters |
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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Maximum Credit Limit : |
GBP 20,600 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
GLOBAL METCORP LIMITED |
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Trading Address |
8TH FLOOR YORK HO,EMPIRE WAY,WEMBLEY,HA9 0PA |
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Telephone |
02087-828744 |
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Risk Score |
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This company has an average risk status and should be
treated with a degree of caution |
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Credit Limit |
GBP 20,600 |
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Selling to this company? The Credit Limit is the
recommended maximum outstanding debtor exposure at any one time. |
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Contract Limit |
GBP 164,300 |
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Buying from this company? The Contract Limit is the recommended
aggregate annual value for supply contracts. |
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Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
04278981 |
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Date of Incorporation |
30/08/2001 |
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Registered Office |
20 Leigh Ct Byron Hill Rd Harrow Middlesex HA2 0HZ |
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Date of Last Annual Return to Registry |
30/08/2007 |
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Activities |
Scrap exporters |
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Accounts |
The last filed accounts cover the period to 31/08/2006 and
were filed on 30/05/2007 |
Recently Filed Documents
Details of the most
recent documents
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Date
Received |
Description |
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30/08/2007 |
Annual Return |
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31/08/2006 |
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 |
METAL TRADER |
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Address |
20, LEIGH COURT BYRON HILL ROAD , HARROW
, MIDDX , HA2 0HZ |
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Country of Origin |
INDIAN |
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Date of Birth |
08/01/1979 |
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Appointment Date |
27/08/2002 |
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Other Appointments |
ARDOUR WORLD LIMITED, EURO METALS
LIMITED, GLOBAL METCORP LIMITED |
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
ELMWOOD 6 , THE AVENUE HATCHEND , PINNER
, MIDDX , HA5 4EP |
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Country of Origin |
INDIAN |
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Date of Birth |
18/04/1980 |
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Appointment Date |
31/08/2006 |
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Other Appointments |
GLOBAL METCORP LIMITED |
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SECRETARY |
RITESH SHAH |
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Address |
7 SAINT JAMES GARDENS, , WEMBLEY
, MIDDLESEX , HA0 4LH |
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Country of Origin |
INDIAN |
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Appointment Date |
01/09/2007 |
Recently Resigned Directors (last
3)
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DIRECTOR |
ADARSH SHRIKANT |
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Address |
26 , ADELAIDE CLOSE , STANMORE , MIDDX
, - - |
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Country of Origin |
BRITISH |
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Date of Birth |
29/07/1941 |
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Resignation Date |
31/08/2006 |
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DIRECTOR |
MR NITESH CHAUDHARI |
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Occupation |
METAL TRADER |
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Address |
1 , PHILIPS STREET , TAMIL NAOUDU , INDIA
, - - |
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Country of Origin |
INDIAN |
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Date of Birth |
03/12/1976 |
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Resignation Date |
28/08/2002 |
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DIRECTOR |
MR SANDIP AHLUWALIA |
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Address |
31 , KINGSWAY , WEMBLEY , MIDDX
, - - |
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Date of Birth |
29/06/1973 |
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Resignation Date |
28/08/2002 |
Share Summary
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Share Currency: |
GBP |
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
%age |
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Mr Ashish Chaudhari |
ORD |
125,300 |
125,300.00 |
50.00 |
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Mr Nitesh Chaudhari |
ORD |
122,794 |
122,794.00 |
49.00 |
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Mrs Adarsh Shrikant |
ORD |
2,506 |
2,506.00 |
1.00 |
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Mortgages and Charges
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Total Registered |
4 |
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Total Outstanding |
4 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
06/02/2007 |
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Date Registered |
07/02/2007 |
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Type |
395 |
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Date Created |
06/02/2007 |
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Lender |
BARCLAYS BANK PLC |
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Secured On |
224,800.00 DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE |
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Details |
20 LEIGH COURT BYRON HILL ROAD HARROW |
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Satisfied? |
No |
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Date Registered |
05/05/2005 |
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Type |
395 |
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Date Created |
18/04/2005 |
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Lender |
CHESTERFIELD INVESTMENTS (NO.5) LIMITED |
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Secured On |
2,030 DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE |
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Details |
INTEREST IN THE SECURITY FOR THE PAYMENT OF THE RENTS
RESERVED BY THE LEASE SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
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Date Registered |
26/03/2004 |
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Type |
395 |
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Date Created |
15/03/2004 |
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Lender |
TIGERCLOCK LIMITED |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR
EVIDENCING THE CHARGE |
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Details |
THE SUM OF 750.00 |
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Satisfied? |
No |
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Date Registered |
23/09/2003 |
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Type |
395 |
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Date Created |
16/09/2003 |
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Lender |
BARCLAYS BANK PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER |
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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 |
Scrap exporters |
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Sic Code |
Description |
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5157 |
Wholesale of waste and scrap |
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Staff Employed |
5 |
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Auditors |
King & King |
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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. |
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Bankers |
Fortis Bank. |
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Sort Codes |
405262 |
Financial Data
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The following figures are shown in units of units |
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Profit and Loss |
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/08/2006 |
31/08/2005 |
31/08/2004 |
31/08/2003 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Consolidated? |
No |
No |
No |
No |
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RETAINED PROFITS |
- |
- |
- |
- |
Balance Sheet
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/08/2006 |
31/08/2005 |
31/08/2004 |
31/08/2003 |
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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 |
289,937 |
292,673 |
2,342 |
1,536 |
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Total Fixed Assets |
289,937 |
292,673 |
2,342 |
1,536 |
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TOTAL CURRENT ASSETS |
1,811,252 |
2,419,387 |
1,285,437 |
949,664 |
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Stocks |
577,864 |
626,256 |
- |
- |
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Trade Debtors |
1,157,904 |
1,788,864 |
1,268,255 |
717,541 |
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Cash |
75,484 |
4,267 |
17,182 |
232,123 |
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TOTAL ASSETS |
2,101,189 |
2,712,060 |
1,287,779 |
951,200 |
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TOTAL CURRENT LIABILITIES |
1,613,438 |
2,280,036 |
1,128,469 |
868,168 |
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Other Current Liabilities |
1,613,438 |
2,280,036 |
1,128,469 |
868,168 |
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WORKING CAPITAL |
197,814 |
139,351 |
156,968 |
81,496 |
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TOTAL LONG TERM LIABS |
191,993 |
200,203 |
0 |
0 |
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Mortgages and loans |
191,993 |
- |
- |
- |
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NET ASSETS/(LIABILITIES) |
487,751 |
432,024 |
159,310 |
83,032 |
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SHARE CAPITAL + RESERVES |
295,758 |
231,821 |
159,310 |
83,032 |
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Issued Share Capital |
600 |
600 |
600 |
100 |
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Profit and Loss account |
295,158 |
231,221 |
158,710 |
82,932 |
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SHAREHOLDERS FUNDS |
295,758 |
231,821 |
159,310 |
83,032 |
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CAPITAL EMPLOYED |
487,751 |
432,024 |
159,310 |
83,032 |
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TANGIBLE NET WORTH |
295,758 |
231,821 |
159,310 |
83,032 |
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Key Credit
Ratios |
|
Accounts Date |
31/08/2006 |
31/08/2005 |
31/08/2004 |
31/08/2003 |
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Current Ratio |
1.12 |
1.06 |
1.14 |
1.09 |
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Quick Ratio |
0.76 |
0.79 |
- |
- |
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T.N.W/Total Assets |
0.14 |
0.09 |
0.12 |
0.09 |
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Equity Gearing |
- |
0.01 |
- |
- |
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Solvency (%) |
610.44 |
1069.89 |
708.35 |
1045.58 |
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Financial Summary
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Working Capital |
The company's working capital improved in the period by
42% |
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Tangible
Net Worth |
Net worth increased by 63,937,units during the period and
now stands at GBP 295,758,units |
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Fixed
Assets |
The subjects fixed assets reduced during the period by GBP
2,736,units to GBP 289,937,units and are now 14% of total assets
compared with 11% in the previous period |
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Long
Term Liabilities |
The company's long term liabilities reduced during the
period by 4% and are now 65% of net worth compared with 86% in the previous
period |
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Long
Term Liabilities |
Long term liabilities are now 9% of total assets compared
with 7% in the previous period |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.58 |
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UK Pound |
1 |
Rs.81.43 |
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Euro |
1 |
Rs.64.52 |
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%)