MIRA INFORM
REPORT
|
Report Date : |
07.08.2010 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL METCORP LIMITED |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.08.2009 |
|
|
|
|
Date of Incorporation : |
30.08.2001 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
A group engaged in dealer in scrap metal. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
£90,000 |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Identification
|
Company Name |
GLOBAL METCORP LIMITED |
Company Number |
04278981 |
|
Registered
Address |
|
Trading Address |
|
|
|
|
|
|
|
|
|
|
|
|
|
HA2 0HZ |
|
|
|
Website Address |
- |
|
|
|
Telephone Number |
|
Fax Number |
|
|
TPS |
Yes |
FPS |
No |
|
Incorporation
Date |
30/08/2001 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
|
Type |
Private limited with Share Capital |
|
|
|
Filing Date of
Accounts |
28/05/2010 |
|
Date of Change |
- |
Share Capital |
£250,600 |
|
Sic Code |
7487 |
Currency |
GBP |
|
Sic Description |
OTHER BUSINESS ACTIVITIES |
||
|
Principal
Activity |
A group engaged in dealer in scrap metal. |
||
Credit Limit
|
Todays Limit |
£90,000 |
Commentary
|
No exact match CCJs are recorded against the company. |
|
There has been no significant change in the company's credit limit. |
|
The previous 12 month trading period saw a rise in Sales of 46.9%. |
|
In the previous 12 month trading period Net Worth increased by 67.5%. |
|
A 10.9% decline in Total Assets occurred in the previous 12 month
trading period. |
|
Pre-tax profits increased by 73.5% in the previous 12 month trading
period. |
|
The company saw an increase in their Cash Balance of 80.5% in the previous
12 month trading period. |
|
The audit report contains no adverse comments. |
|
No recent changes in directorship are recorded. |
|
The company is not part of a group. |
|
The company was established over 8 years ago. |
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder
Funds |
Employees |
|
31/08/2009 |
£99,750,423 |
£909,267 |
£1,488,966 |
10 |
|
31/08/2008 |
£67,922,932 |
£524,148 |
£888,734 |
8 |
|
31/08/2007 |
- |
- |
£507,521 |
- |
Payment Information Summary
|
Total number of Invoices available |
18 |
|
Total number of Invoices paid within or up to 30 days after the due
date |
15 |
|
Total number of Invoices paid more than 30 days after the due date |
1 |
|
Total number of Invoices currently outstanding where the due date
has not yet been reached |
2 |
|
Total number of Invoices currently outstanding beyond the due date |
0 |
Have you got a payment experience on this or any other customers you could
share with us? Contribute to our payment data programme to encourage best
practice and expose poor performance. Click Here for details and to find out
what you will get back in return.
CCJ
|
Total Number of
Exact CCJs - |
Total Value of
Exact CCJs - |
|
Total Number of
Possible CCJs - |
Total Value of
Possible CCJs - |
|
Total Number of
Satisfied CCJs - |
Total Value of
Satisfied CCJs - |
|
Total Number of
Writs - |
|
Exact CCJ Details
There are No Exact CCJ Details
Possible CCJ Details
Writ Details
There are no Writ Details
Mortgage Summary
|
Outstanding |
6 |
|
Satisfied |
1 |
Mortgage Details
|
Mortgage Type: |
LEGAL MORTGAGE |
||
|
Date Charge Created: |
30/09/08 |
|
|
|
Date Charge
Registered: |
09/10/08 |
|
|
|
Date Charge
Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
HSBC BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY
TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
L/H 20 BYRON HILL ROAD HARROW; WITH
THEBENEFIT OF ALL RIGHTS, LICENCES, GUARANTEES, RENT DEPOSITS, CONTRACTS,
DEEDS UNDERTAKINGS & WARRANTIES RELATING TO THE PROPERTY. ANY SHARES OR MEMBERSHIP
RIGHTSIN ANY MANAGEMENT COMPANY FOR THE PROPERTY. ANY GOODWILL OF ANY
BUSINESS FROM TIME TO TIME CARRIED ON AT THE PROPERTY.ANY RENTAL & OTHER
MONEY PAYABLE AND ANY LEGAL LICENCE OR OTHER INTEREST CREATED IN RESPECT OF
THE PROPERTY & ALL OTHERPAYMENTS WHATEVER IN RESPECT OF THE PROPERTY |
|
Mortgage Type: |
DEBENTURE |
||
|
Date Charge
Created: |
27/08/08 |
|
|
|
Date Charge
Registered: |
02/09/08 |
|
|
|
Date Charge
Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
HSBC BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR TO BECOME DUE FROM THE
COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
FIXED AND FLOATING CHARGE OVER THE
UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL,
BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY
SEE IMAGEFOR FULL DETAILS |
||
|
Mortgage Type: |
RENT DEPOSIT DEED |
||
|
Date Charge
Created: |
28/07/08 |
|
|
|
Date Charge
Registered: |
30/07/08 |
|
|
|
Date Charge
Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
|
||
|
Amount Secured: |
£2,257.33 DUE OR TO BECOME DUE FROM
THECOMPANY TO THE CHARGEE |
||
|
Details: |
£2,257.33 SEE IMAGE FOR FULL DETAILS |
||
|
Mortgage Type: |
LEGAL CHARGE |
||
|
Date Charge
Created: |
06/02/07 |
|
|
|
Date Charge
Registered: |
07/02/07 |
|
|
|
Date Charge
Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s) Entitled: |
BARCLAYS BANK PLC |
||
|
Amount Secured: |
£224,800.00 DUE OR TO BECOME DUE FROM THE
COMPANY TO |
||
|
Details: |
|
||
|
Mortgage Type: |
RENT DEPOSIT DEED |
||
|
Date Charge
Created: |
18/04/05 |
|
|
|
Date Charge
Registered: |
05/05/05 |
|
|
|
Date Charge
Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
|
||
|
Amount Secured: |
£2,030 DUE OR TO BECOME DUE FROM THE
COMPANY TO |
||
|
Details: |
INTEREST IN THE SECURITY FOR THE PAYMENT
OF THE RENTS RESERVED BY THE LEASE SEE THE MORTGAGE CHARGEDOCUMENT FOR FULL
DETAILS |
||
|
Mortgage Type: |
RENT DEPOSIT DEED |
||
|
Date Charge
Created: |
15/03/04 |
|
|
|
Date Charge
Registered: |
26/03/04 |
|
|
|
Date Charge
Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
TIGERCLOCK LIMITED |
||
|
Amount Secured: |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY
TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR
EVIDENCING THE CHARGE |
||
|
Details: |
THE SUM OF £750.00 |
||
|
Mortgage Type: |
DEBENTURE |
||
|
Date Charge
Created: |
16/09/03 |
|
|
|
Date Charge
Registered: |
23/09/03 |
|
|
|
Date Charge
Satisfied: |
18/04/07 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s)
Entitled: |
BARCLAYS BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR TO BECOME DUE FROM THE
COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
FIXED AND FLOATING CHARGES OVER THE
UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL
BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE
THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
||
|
Total Current Directors |
2 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
7 |
Current Directors
|
Name |
Date of Birth |
08/01/1979 |
|
|
Officers Title |
Mr |
Nationality |
Indian |
|
Present
Appointments |
4 |
Function |
Director |
|
Appointment Date |
27/08/2002 |
|
|
|
Address |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HA2 0HZ |
|
|
|
|
|
|
|
|
Name |
Date of Birth |
18/04/1980 |
|
|
Officers Title |
Mr |
Nationality |
Indian |
|
Present
Appointments |
1 |
Function |
Director |
|
Appointment Date |
31/08/2006 |
|
|
|
Address |
Flat 13 Elmwood 6 |
|
|
|
|
The Avenue Hatchend |
|
|
|
|
Pinner |
|
|
|
|
HA5 4EP |
|
|
|
|
|
|
|
Current Company Secretary
|
Name |
Date of Birth |
- |
|
|
Officers Title |
Mr |
Nationality |
Indian |
|
Present
Appointments |
1 |
Function |
Company Secretary |
|
Appointment Date |
01/09/2007 |
|
|
|
Address |
7 |
|
|
|
|
|
|
|
|
|
Wembley |
|
|
|
|
HA0 4LH |
|
|
|
|
|
|
|
Top 20 Shareholders
|
Individual Share
Value |
|
|
ASHISH CHAUDHARI |
125,300 ORDINARY GBP 1.00 |
|
MR NITESH CHAUDHARI |
122,794 ORDINARY GBP 1.00 |
|
ADARSH SHEIKANT |
2,506 ORDINARY GBP 1.00 |
Profit & Loss
|
31/08/09 |
(%) |
31/08/08 |
(%) |
31/08/07 |
(%) |
31/08/06 |
(%) |
31/08/05 |
|
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated A/cs |
Y |
(%) |
Y |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
£99,750,423 |
46.9% |
£67,922,932 |
- |
- |
- |
- |
- |
- |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
£98,543,969 |
- |
£67,229,263 |
- |
- |
- |
- |
- |
- |
|
Gross Profit |
£1,206,454 |
73.9% |
£693,669 |
- |
- |
- |
- |
- |
- |
|
Wages & Salaries |
£122,514 |
212.5% |
£39,208 |
- |
- |
- |
- |
- |
- |
|
Directors Emoluments |
£33,879 |
464.7% |
£6,000 |
- |
- |
- |
- |
- |
- |
|
Operating Profit |
£922,299 |
72.9% |
£533,346 |
- |
- |
- |
- |
- |
- |
|
Depreciation |
£6,731 |
43.2% |
£4,701 |
53.7% |
£3,059 |
-67.6% |
£9,448 |
- |
- |
|
Audit Fees |
£10,000 |
58.7% |
£6,300 |
- |
- |
- |
- |
- |
- |
|
Interest Payments |
£14,813 |
-9.5% |
£16,370 |
- |
- |
- |
- |
- |
- |
|
Pre Tax Profit |
£909,267 |
73.5% |
£524,148 |
- |
- |
- |
- |
- |
- |
|
Taxation |
-£249,035 |
-91.7% |
-£129,935 |
- |
- |
- |
- |
- |
- |
|
Profit After Tax |
£660,232 |
67.5% |
£394,213 |
- |
- |
- |
- |
- |
- |
|
Dividends Payable |
£60,000 |
361.5% |
£13,000 |
- |
- |
- |
- |
- |
- |
|
Retained Profit |
£600,232 |
57.5% |
£381,213 |
- |
- |
- |
- |
- |
- |
Balance Sheet
|
Date Of Accounts |
31/08/09 |
(%) |
31/08/08 |
(%) |
31/08/07 |
(%) |
31/08/06 |
(%) |
31/08/05 |
|
Tangible Assets |
£344,282 |
2.6% |
£335,638 |
0.4% |
£334,176 |
15.3% |
£289,937 |
-0.9% |
£292,673 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed Assets |
£344,282 |
2.6% |
£335,638 |
0.4% |
£334,176 |
15.3% |
£289,937 |
-0.9% |
£292,673 |
|
Stock |
£1,544,332 |
9.2% |
£1,413,599 |
-7.6% |
£1,529,537 |
164.7% |
£577,864 |
-7.7% |
£626,256 |
|
Trade Debtors |
£4,863,949 |
-24.6% |
£6,449,139 |
66.6% |
£3,871,030 |
- |
0 |
- |
0 |
|
Cash |
£1,664,355 |
80.5% |
£921,990 |
999.9% |
£3,525 |
-95.3% |
£75,484 |
999.9% |
£4,267 |
|
Other Debtors |
£102,957 |
-76.7% |
£441,909 |
- |
0 |
-100% |
£1,157,904 |
-35.3% |
£1,788,864 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£8,175,593 |
-11.4% |
£9,226,637 |
70.7% |
£5,404,092 |
198.4% |
£1,811,252 |
-25.1% |
£2,419,387 |
|
Trade Creditors |
£6,466,921 |
-18.9% |
£7,970,576 |
57% |
£5,077,588 |
- |
0 |
- |
0 |
|
Bank Loans & Overdrafts |
0 |
-100% |
£152,128 |
- |
0 |
- |
0 |
-100% |
£175,000 |
|
Other Short Term Finance |
£39,600 |
90.6% |
£20,773 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
£524,388 |
-1.1% |
£530,064 |
- |
0 |
-100% |
£1,613,438 |
-23.4% |
£2,105,036 |
|
Total Current Liabilities |
£7,030,909 |
-18.9% |
£8,673,541 |
70.8% |
£5,077,588 |
214.7% |
£1,613,438 |
-29.2% |
£2,280,036 |
|
Bank Loans & Overdrafts and LTL |
0 |
-100% |
£152,128 |
-0.7% |
£153,159 |
-20.2% |
£191,993 |
-48.8% |
£375,203 |
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
-100% |
£191,993 |
- |
0 |
|
Total Long Term Liabilities |
0 |
- |
0 |
-100% |
£153,159 |
-20.2% |
£191,993 |
-4.1% |
£200,203 |
Capital & Reserves
|
Date Of Accounts |
31/08/09 |
(%) |
31/08/08 |
(%) |
31/08/07 |
(%) |
31/08/06 |
(%) |
31/08/05 |
|
Called Up Share Capital |
£250,600 |
- |
£250,600 |
- |
£250,600 |
999.9% |
£600 |
- |
£600 |
|
P & L Account Reserve |
£1,204,022 |
99.4% |
£603,790 |
171.3% |
£222,577 |
-24.6% |
£295,158 |
27.7% |
£231,221 |
|
Revaluation Reserve |
£34,344 |
- |
£34,344 |
- |
£34,344 |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£1,488,966 |
67.5% |
£888,734 |
75.1% |
£507,521 |
71.6% |
£295,758 |
27.6% |
£231,821 |
Other Financial Items
|
31/08/09 |
(%) |
31/08/08 |
(%) |
31/08/07 |
(%) |
31/08/06 |
(%) |
31/08/05 |
|
|
Net Worth |
£1,488,966 |
67.5% |
£888,734 |
75.1% |
£507,521 |
71.6% |
£295,758 |
27.6% |
£231,821 |
|
Working Capital |
£1,144,684 |
107% |
£553,096 |
69.4% |
£326,504 |
65.1% |
£197,814 |
42% |
£139,351 |
|
Total Assets |
£8,519,875 |
-10.9% |
£9,562,275 |
66.6% |
£5,738,268 |
173.1% |
£2,101,189 |
-22.5% |
£2,712,060 |
|
Total Liabilities |
£7,030,909 |
-18.9% |
£8,673,541 |
65.8% |
£5,230,747 |
189.7% |
£1,805,431 |
-27.2% |
£2,480,239 |
|
Net Assets |
£1,488,966 |
67.5% |
£888,734 |
75.1% |
£507,521 |
71.6% |
£295,758 |
27.6% |
£231,821 |
Cash Flow
|
Date Of Accounts |
31/08/09 |
(%) |
31/08/08 |
(%) |
31/08/07 |
(%) |
31/08/06 |
(%) |
31/08/05 |
|
Net Cashflow from Operations |
£1,115,034 |
-6.7% |
£1,195,199 |
- |
- |
- |
- |
- |
- |
|
Net Cashflow before Financing |
£356,913 |
-25.4% |
£478,203 |
- |
- |
- |
- |
- |
- |
|
Net Cashflow from Financing |
-£152,128 |
-452.7% |
-£27,527 |
- |
- |
- |
- |
- |
- |
|
Increase in Cash |
£204,785 |
-54.6% |
£450,676 |
- |
- |
- |
- |
- |
- |
Miscellaneous
|
31/08/09 |
(%) |
31/08/08 |
(%) |
31/08/07 |
(%) |
31/08/06 |
(%) |
31/08/05 |
|
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£1,488,966 |
67.5% |
£888,734 |
34.5% |
£660,680 |
35.5% |
£487,751 |
12.9% |
£432,024 |
|
Number of Employees |
10 |
25% |
8 |
- |
- |
- |
- |
- |
- |
Ratios
|
31/08/09 |
31/08/08 |
31/08/07 |
31/08/06 |
31/08/05 |
|
|
Pre-tax profit margin % |
0.91 |
0.77 |
- |
- |
- |
|
Current ratio |
1.16 |
1.06 |
1.06 |
1.12 |
1.06 |
|
Sales/Net Working Capital |
87.14 |
122.80 |
- |
- |
- |
|
Gearing % |
0 |
17.10 |
30.20 |
64.90 |
161.90 |
|
Equity in % |
17.50 |
9.30 |
8.80 |
14.10 |
8.50 |
|
Creditor Days |
23.59 |
42.71 |
- |
- |
- |
|
Debtor Days |
17.74 |
34.56 |
- |
- |
- |
|
Liquidity/Acid Test |
0.94 |
0.90 |
0.76 |
0.76 |
0.79 |
|
Return On Capital Employed % |
61.06 |
58.97 |
- |
- |
- |
|
Return On Total Assets Employed % |
10.67 |
5.48 |
- |
- |
- |
|
Current Debt Ratio % |
4.72 |
9.75 |
10 |
5.46 |
9.84 |
|
Total Debt Ratio % |
4.72 |
9.75 |
10.30 |
6.10 |
10.70 |
|
Stock Turnover Ratio % |
1.54 |
2.08 |
- |
- |
- |
|
Return on Net Assets Employed % |
61.06 |
58.97 |
- |
- |
- |
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
09/06/2010 |
New Accounts Filed |
|
09/06/2010 |
New Accounts Filed |
|
16/10/2009 |
Annual Returns |
|
07/07/2009 |
New Accounts Filed |
|
28/08/2008 |
New Accounts Filed |
|
18/10/2007 |
Annual Returns |
|
16/10/2007 |
ADARSH SHRIKANT has resigned as company secretary |
|
12/06/2007 |
New Accounts Filed |
|
29/03/2007 |
ADARSH SHRIKANT has left the board |
|
26/01/2006 |
New Accounts Filed |
|
18/01/2006 |
New Board Member (ASHISH CHAUDHARI) appointed |
|
28/02/2005 |
New Accounts Filed |
|
21/02/2005 |
Annual Returns |
|
10/02/2005 |
Annual Returns |
|
04/01/2005 |
Change in Reg.Office |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.02 |
|
|
1 |
Rs.73.21 |
|
Euro |
1 |
Rs.60.70 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.