MIRA INFORM REPORT

 

 

Report Date :

29.06.2011

 

IDENTIFICATION DETAILS

 

Name :

MICROPOINT (UK) LTD.

 

 

Registered Office :

First Floor Unit 6 Minerva Business Centr London NW10 6HJ

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.06.2010

 

 

Date of Incorporation :

23.04.2001

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Wholesale of computers, computer equipment and software

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

£19,500

Status :

Moderate

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Name

MICROPOINT (UK) LTD.

Company Number

04203941

Registered Address

FIRST FLOOR

Trading Address

First Floor
Unit 6 Minerva Business Centr
London
NW10 6HJ

 

UNIT 6 MINERVA BUSINESS CENTR

 

 

LONDON

 

 

NW10 6HJ

 

 

 

 

 

Website Address

http://www.micropoint-uk.com

 

 

Telephone Number

02089632900

Fax Number

 

TPS

No

FPS

No

Incorporation Date

23/04/2001

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private limited with Share Capital

 

 

Filing Date of Accounts

18/05/2011

Date of Change

-

Share Capital

£5,809,176

Sic Code

5184

Currency

GBP

Sic Description

WHOLESALE OF COMPUTERS, COMPUTER EQUIPMENT AND SOFTWARE

Principal Activity

The distribution of computer equipment, computer peripheral equipment, telecommunication equipment and general trading.

 

CREDIT recommendation

 

Current Credit Limit: £19,500

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

1

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

4

 

Current Directors

 

Name

Rajendra Sharad Karnik

Date of Birth

31/10/1965

Officers Title

Mr

Nationality

Indian

Present Appointments

2

Function

Director

Appointment Date

23/04/2001

 

 

Address

A The Little Master,  Chs Ltd, Plot, Swami S Nagar Lokhandwala Complex,  Cross Road No 3, 

 

Current Company Secretary

 

Name

Jayesh Tailor

Date of Birth

14/10/1956

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Company Secretary

Appointment Date

10/06/2003

 

 

Address

23 St Stephens Road,  ,  Hounslow,  TW3 2BH

 

NEGATIVE INFORMATION

CCJ

 

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

 

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

 

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

 

Total Number of Writs -

0

 

 

Exact CCJ Details

There are no exact CCJ details

Possible CCJ Details

There are no possible CCJ details

Writ Details

There are no writ details

 

Mortgage Summary

 

Outstanding

3

Satisfied

0

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

 

Name

Individual Share Value

RAJENDRA KARNIK

5,809,176 ORDINARY GBP 1.00

 

PAYMENT INFORMATION

 

Na

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Group Structure Summary

Company Name

MICROPOINT (UK) LTD.

Company Number

04203941

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

Companies in group

-

 

Group structure

No group structure

 

FINANCIAL INFORMATION

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

30/06/2010

-

-

-£96,980

-

30/06/2009

-

-

£63,696

-

30/06/2008

£12,598,436

-£1,516,337

-£5,626,699

13

 

 

Profit & Loss

 

Date Of Accounts

30/06/10

(%)

30/06/09

(%)

30/06/08

(%)

30/06/07

(%)

31/12/05

Weeks

52

(%)

52

(%)

52

(%)

78

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

-

-

-

-

£12,598,436

-91.9%

£155,733,522

-

-

Export

-

-

-

-

£3,149,609

-95.9%

£76,571,154

-

-

Cost of Sales

-

-

-

-

£12,122,782

-92%

£151,727,645

-

-

Gross Profit

-

-

-

-

£475,654

-88.1%

£4,005,877

-

-

Wages & Salaries

-

-

-

-

£411,641

-47%

£776,596

-

-

Directors Emoluments

-

-

-

-

£48,000

-73.3%

£180,000

-

-

Operating Profit

-

-

-

-

-£1,515,110

71.6%

-£5,341,389

-

-

Depreciation

£915

-63.2%

£2,485

-79.4%

£12,035

-31.3%

£17,510

57.8%

£11,097

Audit Fees

-

-

-

-100%

£12,000

-

£12,000

-

-

Interest Payments

-

-

-

-

£313,239

-

-

-

-

Pre Tax Profit

-

-

-

-

-£1,516,337

71.6%

-£5,335,824

-

-

Taxation

-

-

-

-

-

-100%

£170,927

-

-

Profit After Tax

-

-

-

-

-£1,516,337

70.6%

-£5,164,897

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-£1,516,337

70.6%

-£5,164,897

-

-

 

 

Capital & Reserves

 

Date Of Accounts

30/06/10

(%)

30/06/09

(%)

30/06/08

(%)

30/06/07

(%)

31/12/05

Called Up Share Capital

£5,809,176

-

£5,809,176

999.9%

£1

-

£1

-

£1

P & L Account Reserve

-£5,906,156

-2.8%

-£5,745,480

-2.1%

-£5,626,700

-36.9%

-£4,110,363

-489.8%

£1,054,534

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

-£96,980

-252.3%

£63,696

101.1%

-£5,626,699

-36.9%

-£4,110,362

-489.8%

£1,054,535

 

 

 

Other Financial Items

 

Date Of Accounts

30/06/10

(%)

30/06/09

(%)

30/06/08

(%)

30/06/07

(%)

31/12/05

Net Worth

-£96,980

-252.3%

£63,696

101.1%

-£5,626,699

-36.9%

-£4,110,362

-489.8%

£1,054,535

Working Capital

-£99,274

-255.9%

£63,696

-64.6%

£179,991

-89.3%

£1,684,573

64.1%

£1,026,255

Total Assets

£1,361,935

-27.8%

£1,885,413

3.3%

£1,825,882

-37.1%

£2,904,591

-16.9%

£3,496,676

Total Liabilities

£1,458,915

-19.9%

£1,821,717

-75.6%

£7,452,581

6.2%

£7,014,953

187.2%

£2,442,141

Net Assets

-£96,980

-252.3%

£63,696

101.1%

-£5,626,699

-36.9%

-£4,110,362

-489.8%

£1,054,535

 

 

Cash Flow

 

Date Of Accounts

30/06/10

(%)

30/06/09

(%)

30/06/08

(%)

30/06/07

(%)

31/12/05

Net Cashflow from Operations

-

-

-

-

-£515,911

90.1%

-£5,231,113

-

-

Net Cashflow before Financing

-

-

-

100%

-£516,856

90.4%

-£5,399,945

-

-

Net Cashflow from Financing

-

-

-

-

-

-100%

£5,809,175

-

-

Increase in Cash

-

-

-

-

-£516,856

-226.3%

£409,230

-

-

 

Ratios

 

Date Of Accounts

30/06/10

30/06/09

30/06/08

30/06/07

31/12/05

Pre-tax profit margin %

-

-

-12.04

-3.43

-

Current ratio

0.93

1.03

1.11

2.40

1.42

Sales/Net Working Capital

-

-

69.99

92.45

-

Gearing %

0

0

-103.20

-141.30

0

Equity in %

-7.10

3.40

-308.20

-141.50

30.20

Creditor Days

-

-

37.64

3.25

-

Debtor Days

-

-

20.08

1.15

-

Liquidity/Acid Test

0.83

0.95

0.94

1.99

1.34

Return On Capital Employed %

-

-

-830.97

-314.09

-

Return On Total Assets Employed %

-

-

-83.04

-183.70

-

Current Debt Ratio

-15.04

28.60

-0.29

-0.29

2.32

Total Debt Ratio

-15.04

28.60

-1.32

-1.70

2.32

Stock Turnover Ratio %

-

-

2.10

0.32

-

Return on Net Assets Employed %

-

-

26.94

129.81

-

 

FOREIGN EXCHANGE RATES

 

Na

 

ADDITIONAL INFORMATION

 

No exact match CCJs are recorded against the company.

The company's credit rating has increased from not rated to 46 which indicates it is creditworthy.

There has been no significant change in the company's credit limit.

There is insufficient data to indicate a change in this companies percentage of sales.

In the previous 12 month trading period Net Worth decreased by 252.3%.

A 27.8% decline in Total Assets occurred in the previous 12 month trading period.

There is insufficient data to indicate a change in this companies pre-tax profit.

The company saw an increase in their Cash Balance of 1.1% 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 negative change in the P&L Account Reserve suggests that the company made a loss after tax and other appropriations.

The company has changed its registered address recently.

The company was established over 10 years ago.

 

Status History

 

No Status History found



Event History

 

Date

Description

23/05/2011

New Accounts Filed

02/08/2010

Annual Returns

01/04/2010

New Accounts Filed

10/08/2009

Annual Returns

07/08/2009

Change in Reg.Office

14/05/2009

New Accounts Filed

27/07/2008

Annual Returns

10/04/2008

New Accounts Filed

15/02/2008

Accounts Overdue

02/07/2007

Annual Returns

07/07/2006

New Accounts Filed

10/02/2006

New Board Member (RAJENDRA SHARADKARNIK) appointed

11/10/2005

New Accounts Filed

28/03/2005

Data Refresh

23/07/2004

Annual Returns

 

NOTES & COMMENTS

 

Na

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.05

UK Pound

1

Rs.71.91

Euro

1

Rs.64.34

 

 

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

--

NB

                                       New Business

 

--

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.