MIRA
INFORM REPORT
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Report Date : |
09.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
GROSVENOR HOUSE TRADING LIMITED |
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Registered Office : |
Hallswelle Ho, 1 Hallswelle Rd, London, NW11 0DH |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
18.02.1992 |
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Com. Reg. No.: |
02688352 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
International Steel Traders |
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 54,700 |
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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 |
GROSVENOR HOUSE TRADING LIMITED |
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Ultimate Holding Company |
GROSVENOR HOUSE TRADING LTD |
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Trading Address |
UNIT 8 DALSTON HO 60 WINDSOR AVE, WIMBLEDON,LONDON,SW19
2RR |
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Telephone |
020-8540-9995 |
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Assurances in the form of guarantees may be necessary
especially if the Credit Limit assigned is required to be exceeded |
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Credit Limit |
GBP 54,700 |
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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 830,800 |
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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 |
02688352 |
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Date of Incorporation |
18/02/1992 |
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Registered Office |
Hallswelle Ho, 1 Hallswelle Rd, London, NW11 0DH |
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Date of Last Annual Return to
Registry |
18/02/2007 |
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Activities |
International steel traders |
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Accounts |
The last filed accounts cover the period to 31/03/2007 and
were filed on 28/11/2007 |
Recently Filed Documents
Details
of the most recent documents
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Date
Received |
Description |
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18/02/2007 |
Annual Return |
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31/03/2007 |
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 |
CHARTERED ACCOUNTANT |
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Address |
179, COOMBE LANE WEST WIMBLEDON , LONDON
, SW20 0RG |
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Date of Birth |
04/10/1946 |
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Appointment Date |
01/03/2003 |
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Other Appointments |
CHELSEA (2005) LIMITED, DALTON HOUSE PROPERTIES
LIMITED, GPT STEEL INDUSTRIES (UK) LIMITED, GROSVENOR HOUSE TRADING
LIMITED, OXBRIDGE IMPORT AND EXPORT LIMITED, SW19 TRADING
LIMITED, WIMBLEDON STEEL TRADERS LIMITED |
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DIRECTOR |
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Occupation |
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Address |
179, COOMBE LANE WEST WIMBLEDON , LONDON
, SW20 0RG |
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Date of Birth |
16/03/1947 |
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Appointment Date |
30/03/1993 |
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Other Appointments |
CHELSEA (2005) LIMITED, G H TRADING (LONDON)
LIMITED, GPT STEEL INDUSTRIES (UK) LIMITED, GROSVENOR HOUSE TRADING
LIMITED, OXBRIDGE IMPORT AND EXPORT LIMITED, SW19 TRADING
LIMITED, WIMBLEDON STEEL TRADERS LIMITED |
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SECRETARY |
MR BHARAT PARIKH |
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Address |
179 COOMBE LANE, , LONDON , SW20 0RG |
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Country of Origin |
BRITISH |
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Date of Birth |
04/10/1946 |
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Appointment Date |
24/02/1992 |
Recently Resigned Directors (last
3)
None
Share Summary
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Share Currency: |
GBP |
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
Voting %age |
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Miss Danika Parikh |
ORD |
6,000 |
6,000.00 |
6.00 |
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Miss Karuna Parikh |
ORD |
6,000 |
6,000.00 |
6.00 |
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Miss Nayantara Parikh |
ORD |
6,000 |
6,000.00 |
6.00 |
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Mr Bharat Amritlal Parikh |
ORD |
40,000 |
40,000.00 |
40.00 |
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Mr Rajen Amritlal Parikh |
ORD |
2,000 |
2,000.00 |
2.00 |
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Mrs Anuradha Parikh |
ORD |
40,000 |
40,000.00 |
40.00 |
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Mortgages and Charges
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Total Registered |
3 |
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Total Outstanding |
3 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
29/10/2002 |
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Date Registered |
06/11/2002 |
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Type |
395 |
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Date Created |
29/10/2002 |
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Lender |
BNP PARIBAS (SUISSE) S.A. |
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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 |
ALL THE RIGHTS, TITLE AND INTEREST IN AND TO ALL MONEYS
AND OTHER RECEIVABLES, ALL MONEYS, CREDIT OR OTHER ASSETS OR RIGHTS AND ALL
POLICIES AND CONTRACTS OF INSURANCE SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL
DETAILS |
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Satisfied? |
No |
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Date Registered |
24/03/1997 |
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Type |
395 |
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Date Created |
12/03/1997 |
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Lender |
UNITED OVERSEAS BANK (BANQUE UNIE POUR LES PAYS
D'OUTRE-MER) GENEVA |
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Secured On |
FOR OR IN CONNECTION WITH THE FINANCING OF GOODS AND ON
ANY ACCOUNT WHATSOEVER ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO
THE CHARGEE |
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Details |
ASSIGNMENT OF: ALL MONIES AND OTHER RECEIVABLES (THE ASSIGNED
MONIES) DUE TO THE ASSIGNOR ARISING OUT OF OR IN CONNECTION WITH THE
FINANCING CARRIAGE SALE OR OTHER DISPOSITION OF ANY AND ALL GOODS PURCHASED
AND SOLD, ALL MONIES CREDITS OR OTHER ASSETS OR RIGHTS HELD BY THE ASSIGNEE
IN FAVOUR OF THE ASSIGNOR ON ANY ACCOUNT(S) FROM TIME TO TIME, ALL POLICIES
AND CONTRACTS OF INSURANCE; A PLEDGE OF ALL GOODS DELIVERED BY THE ASSIGNOR
INTO THE POSSESSION OF THE ASSIGNEE, ALL BILLS OF LADING WARRANTS DELIVERY
ORDERS SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
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Date Registered |
27/06/1994 |
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Type |
395 |
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Date Created |
15/06/1994 |
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Lender |
LLOYDS 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 |
ALL SUCH RIGHTS TO THE REPAYMENT OF THE DEPOSIT BEING THE
DEBT OR DEBTS OWING TO THE COMPANY BY THE BANK OR ANY PARTY ON THE ACCOUNT(S)
WITH THE BANK RE: GROSVENOR HOUSE TRADING LIMITED U.S. DOLLAR PARIKH
GUARANTEE LIABILITY NUMBERED 11044427 TOGETHER WITH ALL INTEREST (IF ANY)
OWING IN RESPECT OF ANY SUCH ACCOUNT(S) OR DEPOSIT(S) 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 |
International steel traders |
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Sic Code |
Description |
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5152 |
Wholesale of metals and metal ores |
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Staff Employed |
3 |
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Auditors |
Gerald Kreditor & 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. |
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Bankers |
Lloyds TSB Bank Plc |
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Sort Codes |
309966 |
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Bankers |
National Westminster Bank PLC |
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Sort Codes |
606002 |
Financial Data
Profit and Loss
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Currency |
GBP |
GBP |
GBP |
GBP |
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Units |
units |
units |
units |
units |
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Consolidated? |
Yes |
Yes |
No |
No |
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SALES |
36,129,091 |
62,243,547 |
51,503,246 |
- |
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Export Sales |
36,129,091 |
56,891,171 |
- |
- |
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Cost of goods sold |
34,837,437 |
59,785,119 |
50,195,090 |
- |
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GROSS PROFIT |
1,291,654 |
2,458,428 |
1,308,156 |
1,656,728 |
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Other Expenses |
120,792 |
115,998 |
126,316 |
153,125 |
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General administration costs (-) |
444,195 |
506,494 |
484,715 |
300,232 |
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Wages and Salaries |
116,506 |
108,257 |
66,465 |
66,499 |
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Depreciation |
1,405 |
1,873 |
2,497 |
3,199 |
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Net Operating Profit(Loss) |
726,667 |
1,835,936 |
723,721 |
1,203,371 |
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Non Trading Income |
142,903 |
120,229 |
839 |
637 |
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Total Non Trading Income |
142,903 |
120,229 |
839 |
637 |
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Interest expenses & similar (-) |
447,661 |
844,482 |
161,241 |
239,321 |
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Financial Expenses |
447,661 |
844,482 |
169,449 |
239,321 |
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PRE TAX PROFIT |
421,909 |
1,111,683 |
555,111 |
964,687 |
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Other Taxation |
0 |
0 |
0 |
0 |
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Taxation |
139,261 |
360,470 |
142,533 |
277,852 |
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PROFIT AFTER TAX |
282,648 |
751,213 |
412,578 |
686,835 |
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Net Profit |
282,648 |
751,213 |
412,578 |
686,835 |
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Dividends Payable |
100,000 |
100,000 |
0 |
0 |
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RETAINED PROFITS |
182,648 |
651,213 |
412,578 |
686,835 |
Balance Sheet
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
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Consolidated? |
Yes |
Yes |
No |
No |
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TOTAL FIXED ASSETS |
7,487,030 |
7,066,213 |
7,492 |
9,694 |
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Plant, machinery & equipment |
4,214 |
5,619 |
7,492 |
9,594 |
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Intermediate Assets |
7,482,816 |
7,060,594 |
- |
100 |
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TOTAL CURRENT ASSETS |
10,685,831 |
15,020,496 |
23,958,062 |
16,776,118 |
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Trade Debtors |
8,947,726 |
7,903,638 |
19,732,059 |
14,800,285 |
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Other Receivables |
92,359 |
272,352 |
3,225,291 |
26,517 |
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Cash |
1,645,125 |
6,840,197 |
1,000,712 |
1,949,316 |
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Tax Recoverable |
621 |
4,309 |
- |
- |
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TOTAL ASSETS |
18,172,861 |
22,086,709 |
23,965,554 |
16,785,812 |
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TOTAL CURRENT LIABILITIES |
15,680,477 |
19,776,973 |
22,304,637 |
15,537,473 |
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Trade Creditors |
8,754,460 |
12,730,028 |
16,129,181 |
11,883,876 |
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Bank Overdraft |
3,286,163 |
3,607,460 |
5,632,800 |
2,685,985 |
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Taxes |
474,263 |
490,338 |
444,319 |
600,778 |
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Other Current Liabilities |
3,149,091 |
2,941,647 |
90,703 |
163,531 |
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Accruals & deferred income |
16,500 |
7,500 |
6,250 |
149,446 |
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WORKING CAPITAL |
-4,994,646 |
-4,756,477 |
1,653,425 |
1,238,645 |
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TOTAL LONG TERM LIABS |
0 |
0 |
0 |
0 |
|
NET ASSETS/(LIABILITIES) |
2,492,384 |
2,309,736 |
1,660,917 |
1,248,339 |
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SHARE CAPITAL + RESERVES |
2,492,384 |
2,309,736 |
1,660,917 |
1,248,339 |
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Issued Share Capital |
100,000 |
100,000 |
100,000 |
100,000 |
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Profit and Loss account |
2,392,384 |
2,209,736 |
1,560,917 |
1,148,339 |
|
SHAREHOLDERS FUNDS |
2,492,384 |
2,309,736 |
1,660,917 |
1,248,339 |
|
CAPITAL EMPLOYED |
2,492,384 |
2,309,736 |
1,660,917 |
1,248,339 |
|
TANGIBLE NET WORTH |
2,492,384 |
2,309,736 |
1,660,917 |
1,248,339 |
Key Credit Ratios
|
Accounts Date |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
|
Current Ratio |
0.68 |
0.76 |
1.07 |
1.08 |
|
Profit Before Tax |
0.01 |
0.02 |
0.01 |
- |
|
Creditors Days (D.P.O) |
91.72 |
77.72 |
117.29 |
- |
|
Quick Ratio |
- |
- |
- |
- |
|
Return on Assets |
3.95 |
7.40 |
2.32 |
5.75 |
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T.N.W/Total Assets |
0.14 |
0.10 |
0.07 |
0.07 |
|
Return on Capital |
16.93 |
48.13 |
33.42 |
77.28 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
- |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
- |
|
Solvency (%) |
629.14 |
856.24 |
1342.91 |
1244.65 |
Financial Summary
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Turnover |
Turnover decreased by more than 42% in the period.
Turnover totalled GBP 36,129,091,units for the period. |
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Operating Profit |
Totalled GBP 726,667,units In the period prior a
profit of GBP 1,835,936,units was achieved. |
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Pre Tax |
The subject made a profit of GBP 421,909,units
compared with a profit of GBP 1,111,683,units in the previous period. |
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Working Capital |
The company's working capital deficiency increased in the
period and now stands at GBP 4,994,646,units |
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Tangible Net Worth |
Net worth increased by 182,648 during the period and now
stands at GBP 2,492,384,units |
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Fixed Assets |
The subjects fixed assets reduced during the period by GBP
1,405 to GBP 4,214,units and are now 0% of total assets compared
with 0% in the previous period |
|
Long Term Liabilities |
Long term liabilities are now 0% of total assets compared
with 0% 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 |
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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 |
|
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 |
|
<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%)