MIRA
INFORM REPORT
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Report Date : |
16.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
MOTORSENSE LIMITED |
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Registered Office : |
The Royals Plantaganet House 55, Victoria Road, London,
NW10 6ND |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
09.02.1979 |
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Com. Reg. No.: |
01414060 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Wholesalers of Commercial Passenger Vehicle Spare
Parts |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
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 : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
MOTORSENSE LIMITED |
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Ultimate Holding Company |
MOTORSENSE LTD |
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Trading Address |
264 WATER RD,ALPERTON,WEMBLEY,HA0 1HX |
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Telephone |
020-8991-0804 |
Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
01414060 |
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Date of Incorporation |
09/02/1979 |
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Registered Office |
The Royals Plantaganet House 55, Victoria Road, London,
NW10 6ND |
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Date of Last Annual Return to
Registry |
31/08/2007 |
|
Activities |
Wholesalers of commercial passenger vehicle spare
parts |
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Accounts |
The last filed accounts cover the period to 31/03/2006 and
were filed on 09/07/2007 |
Recently Filed Documents
Details
of the most recent documents
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Date
Received |
Description |
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31/08/2007 |
Annual Return |
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31/03/2006 |
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 |
COMPANY DIRECTOR |
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Address |
248, EDGWAREBURY LANE , EDGWARE , MIDDX
, HA8 8QP |
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Country of Origin |
BRITISH |
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Date of Birth |
19/02/1955 |
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Appointment Date |
14/01/1982 |
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Other Appointments |
GANESH ASSETS LIMITED, MOTORSENSE
LIMITED, MOTSEN LOGISTICS LIMITED, ONE WORLD LIMITED |
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DIRECTOR |
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Occupation |
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Address |
21, WELBECK ROAD , HARROW , MIDDX
, HA2 0RN |
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Country of Origin |
BRITISH |
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Date of Birth |
25/11/1958 |
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Appointment Date |
01/08/1989 |
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Other Appointments |
MOTORSENSE LIMITED |
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DIRECTOR |
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Occupation |
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Address |
248, EDGWAREBURY LANE , EDGWARE , MIDDX
, HA8 8QP |
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Date of Birth |
17/11/1955 |
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Appointment Date |
10/01/1994 |
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Other Appointments |
MOTORSENSE LIMITED, MOTSEN LOGISTICS
LIMITED, ONE WORLD LIMITED |
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SECRETARY |
MS URMILA VADGAMA |
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Address |
21 WELBECK ROAD, , HARROW , MIDDLESEX
, HA2 0RN |
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Country of Origin |
BRITISH |
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Date of Birth |
25/11/1958 |
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Appointment Date |
01/08/1989 |
Recently Resigned Directors (last
3)
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DIRECTOR |
VERAF KHAMBATTA |
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Occupation |
MARKETING PERSON |
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Address |
35 , RICHARDS WAY , SLOUGH , - - |
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Country of Origin |
INDIAN |
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Date of Birth |
13/06/1961 |
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Resignation Date |
31/08/2001 |
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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Jayantkumar Chandubhai Patel |
ORD |
85,000 |
85,000.00 |
85.00 |
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Mrs Bharti Bharat Patel |
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4,500 |
4,500.00 |
9.00 |
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Mrs Bharti Bharat Patel |
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4,500 |
4,500.00 |
9.00 |
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Mrs Nalini Patel |
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6,000 |
6,000.00 |
6.00 |
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Mortgages and Charges
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Total Registered |
6 |
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Total Outstanding |
5 |
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Total Satisfied |
1 |
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Most Recent Mortgage |
17/08/1998 |
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Date Registered |
19/08/1998 |
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Type |
395 |
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Date Created |
17/08/1998 |
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Lender |
BELGOLAISE SA |
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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 GOODS AND ALL BILLS OF LADING DOCK OR WAREHOUSE
WARRANTS POLICIES OF INSURANCE DELIVERY ORDERS AND ALL OTHER DOCUMENTS OF
TITLE AND SECURITIES WHATSOEVER SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL
DETAILS |
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Satisfied? |
No |
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Date Registered |
12/12/1995 |
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Type |
9999 |
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Date Created |
05/12/1985 |
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Lender |
BHARTI BHARAT PATEL |
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Secured On |
UNDER THE TERMS OF THE CHARGE ALL MONIES DUE OR TO BECOME
DUE FROM THE COMPANY TO THE CHARGEE |
|
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? |
Fully |
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Date Registered |
26/06/1993 |
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Type |
395 |
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Date Created |
24/06/1993 |
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Lender |
BELGOLAISE S.A. |
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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 |
FLOATING CHARGE OVER ALL THE UNDERTAKING AND ALL PROPERTY
AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL |
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Satisfied? |
No |
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Date Registered |
08/01/1992 |
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Type |
395 |
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Date Created |
07/01/1992 |
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Lender |
EQUATORIAL 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 |
|
Details |
DEPOSIT WITH EQUATORIAL BANK PLC AT ITS BRANCH AT 10
BUCKLERSBURY HOUSE, WALBROOK, LONDON EC4N 8EL ANY SUM OR SUMS WHICH ARE FROM
TIME TO TIME DEPOSITED BY THE COMPANY EQUATORIAL BANK PLC AT ANY OFFICE OF
EQUATORIAL BANK PLC AND WHETHER IN ADDITION TO OR BY WAY OF RENEWAL OR
REPLACEMENT FOR ANY PREVIOUSLY DEPOSITED OR OTHERWISE TOGETHER WITH ALL
INTEREST ACCRUING FROM TIME TO TIME IN RESPECT OF IT OR THEM |
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Satisfied? |
No |
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Date Registered |
12/12/1989 |
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Type |
9999 |
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Date Created |
05/12/1989 |
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Lender |
BHARAT CHANDUBAI PATEL |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE |
|
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 |
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Satisfied? |
No |
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Date Registered |
24/06/1982 |
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Type |
9999 |
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Date Created |
09/06/1982 |
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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 |
FHOLD 706-736 KENTON ROAD, HARROW TITLE NO - NGL 414040 |
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Satisfied? |
No |
Public Record Information
Summary
of CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
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Activities |
Wholesalers of commercial passenger vehicle spare parts
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Sic Code |
Description |
|
5030 |
Sale of motor vehicle parts and accessories |
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Staff Employed |
20 |
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Auditors |
Andrew Sharma & 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. |
|
Bankers |
Barclays Bank PLC |
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Sort Codes |
203716 |
Financial Data
Profit and Loss
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
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Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
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Consolidated? |
No |
No |
No |
No |
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RETAINED PROFITS |
- |
- |
- |
- |
Balance Sheet
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
89,782 |
62,581 |
61,697 |
52,148 |
|
Total Fixed Assets |
69,780 |
62,579 |
61,695 |
52,146 |
|
Intermediate Assets |
2 |
2 |
2 |
2 |
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Intangible Assets |
20,000 |
- |
- |
- |
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TOTAL CURRENT ASSETS |
875,411 |
820,277 |
677,647 |
429,127 |
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Stocks |
48,565 |
152,495 |
118,821 |
111,683 |
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Trade Debtors |
813,333 |
651,661 |
462,929 |
267,257 |
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Cash |
13,513 |
16,121 |
95,897 |
50,187 |
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TOTAL ASSETS |
965,193 |
882,858 |
739,344 |
481,275 |
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TOTAL CURRENT LIABILITIES |
694,840 |
801,686 |
673,814 |
432,636 |
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Other Current Liabilities |
694,840 |
801,686 |
673,814 |
432,636 |
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WORKING CAPITAL |
180,571 |
18,591 |
3,833 |
-3,509 |
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TOTAL LONG TERM LIABS |
110,455 |
18,903 |
13,893 |
1,693 |
|
Other Long Term Liabilities |
110,455 |
18,903 |
13,893 |
1,693 |
|
NET ASSETS/(LIABILITIES) |
270,353 |
81,172 |
65,530 |
48,639 |
|
SHARE CAPITAL + RESERVES |
159,898 |
62,269 |
51,637 |
46,946 |
|
Issued Share Capital |
100,000 |
15,000 |
15,000 |
15,000 |
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Profit and Loss account |
59,898 |
47,269 |
36,637 |
31,946 |
|
SHAREHOLDERS FUNDS |
159,898 |
62,269 |
51,637 |
46,946 |
|
CAPITAL EMPLOYED |
270,353 |
81,172 |
65,530 |
48,639 |
|
TANGIBLE NET WORTH |
139,898 |
62,269 |
51,637 |
46,946 |
Key Credit Ratios
|
Accounts Date |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
|
Current Ratio |
1.26 |
1.02 |
1.01 |
0.99 |
|
Quick Ratio |
1.19 |
0.83 |
0.83 |
0.73 |
|
T.N.W/Total Assets |
0.14 |
0.07 |
0.07 |
0.10 |
|
Equity Gearing |
0.01 |
0.03 |
0.04 |
0.28 |
|
Solvency (%) |
575.63 |
1317.81 |
1331.81 |
925.17 |
Financial Summary
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Working Capital |
The company's working capital improved in the period by
871% |
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Tangible
Net Worth |
Net worth increased by 77,629 during the period and now
stands at GBP 139,898,units |
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Fixed
Assets |
The subjects fixed assets increased during the period by
GBP 7,201 to GBP 69,780,units and are now 7% of total assets
compared with 7% in the previous period |
|
Long
Term Liabilities |
The company's long term liabilities increased during the
period by 484% and are now 79% of net worth compared with 30% in the previous
period |
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Long
Term Liabilities |
Long term liabilities are now 11% of total assets compared
with 2% in the previous period |
Previous Searches on this Company
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Last 3 Months |
Last 6 Months |
Last 12 Months |
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1 |
1 |
1 |
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 |
|
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%)