MIRA INFORM REPORT

 

 

 

Report Date :

16.09.2008

 

IDENTIFICATION DETAILS

 

Name :

MC7 LIMITED                                                

 

 

Formerly Known as :

ORCHIDS TRADING LIMITED

 

 

Registered Office :

4th Floor 3 Tenterden Street, Hanover Square, Mayfair, London W1S 1TD

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.08.2006

 

 

Date of Incorporation :

05.08.2004

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Other Business Activities 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

Name of the company

 

MC7 LIMITED                                                

Number      05198544                                     

 

 

company summary

 

Address                        4TH FLOOR 3 TENTERDEN STREET,
HANOVER SQUARE,
MAYFAIR,
LONDON W1S 1TD

Postcode                      W1S 1TD

Phone

Type                             Private limited with Share Capital

Company Status            Active - Accounts Filed

Incorporated Date           05/08/2004

 

 

Active CCJ's                  1

Value of CCJ's [£]          £599

Number Of Writs            0

 

 

Current Directors            2

 

 

Total Directorships         2

Trading to Date              31/08/06            31/08/05

Turnover                        £515,727           £4,800

Shareholder Funds         £1,716              £100

Employees                    -                       -

 

Trends

Profitability

Liquidity

Shareholders Funds

 

 

 

 company information

 

 Registered Address

Telephone Number

TPS

Address

 4TH FLOOR 3 TENTERDEN STREET
HANOVER SQUARE
MAYFAIR
LONDON W1S 1TD

 

 

Trading Address

Telephone Number

TPS

Address

4th Floor 3 Tenterden Street
Hanover Square
Mayfair
W1S 1TD

 

 

Web Address

Incorporation Date          05/08/2004

Type of Accounts           Total Exemption Full

Filing Date of Accounts  01/02/2008

 

Company Type              Private Limited With Share Capital

Date of Latest Accounts 31/08/2006

Annual Return                05/08/2006

 

Previous Name(s)

Changed:          07/11/2005        Orchids Trading Limited

 

Industry:

 Data And Distribution Services.

 

SIC Code         Description

 7487                Other Business Activities 

 

Mortgage Charges

Outstanding                   0          Satisfied            0

 

Shareholders

 Share Capital                100       Currency           Gbp

 

 

 

 

 

 

 

 

Previous Names Details

 

 

 Previous Name(s)

 Changed :        07/11/2005        Orchids Trading Limited

 

 

 

Secondary Industry Code Details

 

 

 SIC Code                    Description

 7487                            Other Business Activities

 

 

 

Mortgage Details

 

Shareholders Details

 

 

 Name                                                  Shares

 Mrs Bhavna Mehra                                70 Ord £1 Shares

 Miss Rupal Patel                                  30 Ord £1 Shares

 

 

Trading Address Details

 

Address                                                                                                Telephone Number                     TCPS

 4th Floor 3 Tenterden Street Hanover Square Mayfair W1S 1TD

 

 

 

accounts

 

Profit & Loss

 

 

Annual Accounts

09/05-08/06

Change (%)

08/04-08/05

 

Months

12

-

13

 

Currency

GBP

-

GBP

 

Consolidated A/cs

N

-

N

 

Turnover

515,727

999.9%

4,800

 

Export

-

-

-

 

Cost of Sales

491,393

999.9%

4,800

 

Gross Profit

24,334

-

-

 

Wages & Salaries

14,053

-

-

 

Directors Emoluments

-

-

-

 

Operating Profits

1,995

409.3 %

-645

 

Depreciation

-

-

-

 

Audit Fees

-

-

-

 

Interest Payments

54

-

-

 

Pre Tax Profit

1,995

-

-

 

Taxation

-379

-

-

 

Profit After Tax

1,616

-

-

 

Dividends Payable

-

-

-

 

Retained Profits

1,616

-

-

 

Balance Sheet

 

Annual Accounts

09/05-08/06

Change (%)

08/04-08/05

 

Tangible Assets

-

-

-

 

Intangible Assets

-

-

-

 

Total Fix Assets

-

-

-

 

Total Current Assets

560,667

999.9%

2,855

 

Trade Debtors

559,894

-

-

 

Stock

-

-

-

 

Cash

596

-77.7 %

2,678

 

Other Current Assets

-

-

-

 

Increase In Cash

-2,082

-177.7 %

2,678

 

Miscellaneous Current Assets

177

-

177

 

Total Assets

560,667

999.9%

2,855

 

Total Current Liabilities

465,218

999.9%

455

 

Trade Creditors

461,252

-

-

 

Bank Overdraft

-

-

-

 

Other Short Term Fin

-

-

-

 

Miscellaneous Current Liabilities

3,966

771.6 %

455

 

Other Long Term Fin

93,733

999.9%

2,300

 

Total Long Term Liabilities

93,733

999.9%

2,300

 

Bank Overdraft & LTL

93,733

999.9%

2,300

 

Total Liabilities

558,951

999.9%

2,755

 

Net Assets

1,716

999.9%

100

 

Working Capital

95,449

999.9%

2,400

 

Capitals & Reserves

 

Annual Accounts

09/05-08/06

Change (%)

08/04-08/05

 

Paid up equity

100

-

100

 

P&L Account Reserve

1,616

-

-

 

Sundry Reserves

-

-

-

 

Revaluation Reserve

-

-

-

 

Shareholder Funds

1,716

999.9%

100

 

Net Worth

1,716

999.9%

100

 

Miscellaneous

 

Annual Accounts

09/05-08/06

Change (%)

08/04-08/05

 

Net Cashflow from Operations

-

-

-

 

Net Cashflow before Financing

-

-

-

 

Net Cashflow from Financing

-

-

-

 

Contingent Liability

NO

-

NO

 

Capital Employed

95,449

999.9%

2,400

 

No of Employees

-

-

-

     

Auditors

 

 

AuditQualification

No Adverse Comments

 

Bankers

 

 

BankBranchCode

 

 

Ratios

 

Annual Accounts

09/05-08/06

08/04-08/05

 

Pre-tax profit margin %

0.4 %

0.0 %

 

Current ratio

1.21

6.27

 

Sales/Net Working Capital

5.40

2.00

 

Gearing %

5,462.3 %

2,300.0 %

 

Equity in %

0.3 %

3.5 %

 

Creditor Days

325.55

0.00

 

Debtor Days

395.17

0.00

 

Liquidity/Acid Test

1.21

6.27

 

Return On Capital Employed %

2.1 %

0.0 %

 

Return On Total Assets Employed %

0.4 %

0.0 %

 

Current Debt Ratio %

271.1 %

4.6 %

 

Total Debt Ratio %

325.7 %

27.6 %

 

Stock Turnover Ratio %

-

0.0 %

 

Return on Net Assets Employed %

116.3 %

0.0 %

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Limit Explanation                                                                                                            

The Recommended Credit Limit is calculated using a formula that analyses information from a company's financial accounts and payment record.
The advised amount can be defined as the maximum amount that could be advanced in any one calendar month, assuming standard payment terms of 30 days beyond the month of invoice. Therefore the same maximum amount could be advanced in the next calendar month.                                                                                                                     

 

Date                                                                     Description

10/07/2008                                                            Credit Against Collateral

18/02/2008                                                            Good Credit Worthiness

 26/09/2007                                                           Financial Statements too old

10/11/2006                                                            Credit Against Collateral

06/07/2006                                                            Financial Statements not filed / too old

 

Ccj's

 

Active CCJ's                                                   1                                                                   

Value of CCJ's [£]                                           £599                                                                

Number Of Writs                                             0                                                                   

 

 

                              Year                                                    CCJ's           Writs Registered

                              2008                                                    1      0

 

Date                  Court                          Amount     Status            Case Number       Date Paid

30/06/2008          MAYORS & CITY         £599           Judgement      8MY03721              

 

 

group structure

 

                                                                          Ultimate Parent Company         ANKORLINK LTD

                                                                          Companies in Group     2

 

 

 

Company Name                         Registered Number             Latest Annual Accounts

ANKORLINK LTD                         CYPRUS                              N/A

MC7 LIMITED<<<                        05198544                             31/08/2006

 

 

 

Status History

 

 

Date                                  Description

No Status History

 

 

Event History

 

 

Date                    Description

18/02/2008           New Accounts Filed

09/11/2007           Hardik Mehta Has Left The Board

09/11/2007           Brij Mehra Has Left The Board

26/09/2007           Change In Reg.office

26/09/2007           Change Of Company Postcode

30/06/2007           New Company Secretary (hardik Mehta) Appointed

17/05/2007           Rupal Patel Has Resigned As Company Secretary

10/03/2007           Rupal Patel Has Left The Board

10/01/2007           Bhavna Mehra Has Left The Board

20/12/2006           Change In Reg.office

20/12/2006           Change Of Company Postcode

10/11/2006           New Accounts Filed

23/10/2006           New Board Member (hardik Mehta) Appointed

23/10/2006           New Board Member (brij Mehra) Appointed

12/05/2006           New Board Member (rupal Patel) Appointed

 

 

 

directors

 

                                      Name                                   Kamlesh  Soni   

                                      Address                                18 Wyatt Court    

                                                 165 Ealinck Road

                                                 Wembley

                                                 Middlesex

                                                 HA0 4BZ

                                      Officers Title                                                             Date Of Birth      22/03/1972

                                      Honours                                                                    Present Appointments   1

                                      Appointment Date                21/08/2007                     Function            Director

                                                                                                                        

 

 

 

                                      Name                                   Hardik  Mehta    

                                      Address                                96 Brindley Close

                                                 Wembley

                                                 London

                                                 HA0 1BT

                                      Officers Title                                                             Date Of Birth      07/04/1979

                                      Honours                                                                    Present Appointments   1

                                      Appointment Date                30/04/2007                     Function            Company Secretary

                                                                                                                        

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.63

UK Pound

1

Rs.83.76

Euro

1

Rs.66.49

 

 

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

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

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

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions