MIRA INFORM REPORT

 

 

Report Date :

14.03.2011

 

IDENTIFICATION DETAILS

 

Name :

DERMATECH INTERNATIONAL LIMITED

 

 

Formerly Known As :

STARGATE IMPORT

 

 

Registered Office :

C/O Gibson Appleby, 1 - 3 Ship Street Shoreham-By-Sea BN43 5DH

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

03.03.2000

 

 

Com. Reg. No.:

03939110

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Agents in the sale of a variety of goods

 

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 :

Good

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 – December 31, 2010

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Top of Form

Company Name

DERMATECH INTERNATIONAL LIMITED

Company Number

03939110

Registered Address

C/O GIBSON APPLEBY

Trading Address

c/o Gibson Appleby, Blenheim
House, 120 Church Street
Brighton
BN1 1AU

 

1 - 3 SHIP STREET

 

 

SHOREHAM-BY-SEA

 

 

BN43 5DH

 

Non Registered Trading Address

3 Plato Place, 72-74 St Dionis Road London SW6 4Tu, United Kingdom

 

 

Website Address

-

 

 

Telephone Number

-

Fax Number

 

TPS

-

FPS

No

Incorporation Date

03/03/2000

Company Status

Active - Accounts Filed

Previous Name

STARGATE IMPORT

Type

Private limited with Share Capital

 

 

Filing Date of Accounts

27/08/2010

Date of Change

04/04/2000

Share Capital

£1,000

Sic Code

5119

Currency

GBP

Sic Description

AGENTS IN THE SALE OF A VARIETY OF GOODS

Principal Activity

Agency in sale of various goods.

Accounts Due Date

30/09/2011

Credit Limit

 

Limit                                        £90,000

                                               

 

Commentary

 

No exact match CCJs are recorded against the company.

The company's credit rating has increased from 69 to 79 which indicates very good creditworthiness.

The credit limit on this company has risen 445.5% in comparison to the previously suggested credit limit.

The previous 12 month trading period saw a rise in Sales of 9.7%.

In the previous 12 month trading period Net Worth increased by 8.7%.

A 340.1% growth in Total Assets occurred in the previous 12 month trading period.

Pre-tax profits decreased by 48% in the previous 12 month trading period.

The company saw an increase in their Cash Balance of 428.9% in the previous 12 month trading period.

The company is exempt from audit.

No recent changes in directorship are recorded.

The company is not part of a group.

The company has changed its registered address recently.

The company was established over 10 years ago.

 

Last 3 Years Credit Limit

 

Date

Limit

31/12/2010

£90,000

31/12/2009

£16,500

31/12/2008

£40,000

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/12/2009

£1,164,400

£22,570

£199,824

-

31/12/2008

£1,061,533

£43,409

£183,798

-

31/12/2007

£1,014,507

£68,566

£237,320

-

 

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

4

Satisfied

1

 

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

5

 

Current Directors

 

Name

Joanne Duriya Margossian

Date of Birth

03/05/1973

Officers Title

Ms

Nationality

British

Present Appointments

6

Function

Director

Appointment Date

01/01/2005

 

 

Address

Hill Farm,  Bickers Hill Road,  Laxfield,  IP13 8HA

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Noel Margossian

Date of Birth

20/12/1940

Officers Title

Mr

Nationality

Irish

Present Appointments

1

Function

Director

Appointment Date

07/07/2009

 

 

Address

Fulvens Hanger Fulvens,  Peaslake,  Guildford,  GU5 9PG

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

 

Current Company Secretary

 

Name

Joanne Duriya Margossian

Date of Birth

03/05/1973

Officers Title

Ms

Nationality

British

Present Appointments

6

Function

Company Secretary

Appointment Date

08/03/2000

 

 

Address

Hill Farm,  Bickers Hill Road,  Laxfield,  IP13 8HA

Other Actions

 

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 




Top 20 Shareholders

 

Name

Individual Share Value

THE ESTATE OF VAROUGE MARGOSSIAN

200 ORDINARY GBP 1.00

N MARGOSSIAN

200 ORDINARY GBP 1.00

MS NICOLE MARGOSSIAN

200 ORDINARY GBP 1.00

MS JOANNE DURIYA MARGOSSIAN

200 ORDINARY GBP 1.00

R MARGOSSIAN

200 ORDINARY GBP 1.00

 

Profit & Loss

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

£1,164,400

9.7%

£1,061,533

4.6%

£1,014,507

40.5%

£722,099

20%

£601,754

Export

£1,164,400

9.7%

£1,061,533

4.8%

£1,012,478

-

-

-

£601,754

Cost of Sales

-

-

-

-100%

£1,706

-

-

-

-

Gross Profit

-

-

£1,061,533

4.8%

£1,012,801

-

-

-

£601,754

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

£397,917

134.1%

£170,000

-17.1%

£205,000

95.2%

£105,000

5%

£100,000

Operating Profit

£19,943

2.3%

£19,489

-59.4%

£47,999

-44.8%

£87,012

246%

-£59,616

Depreciation

£9,913

-0.6%

£9,975

178.7%

£3,579

-25%

£4,773

-15.9%

£5,673

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

£22,570

-48%

£43,409

-36.7%

£68,566

-41.7%

£117,627

546.6%

£18,192

Taxation

-£6,544

65.4%

-£18,931

-19%

-£15,902

32.9%

-£23,693

-265.8%

-£6,477

Profit After Tax

£16,026

-34.5%

£24,478

-53.5%

£52,664

-43.9%

£93,934

701.8%

£11,715

Dividends Payable

-

-100%

£78,000

-48%

£150,000

-

£150,000

50%

£100,000

Retained Profit

£16,026

129.9%

-£53,522

45%

-£97,336

-73.6%

-£56,066

36.5%

-£88,285

 

Balance Sheet

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Tangible Assets

£30,970

-21.9%

£39,650

269.2%

£10,738

-25%

£14,317

-15.9%

£17,021

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£30,970

-21.9%

£39,650

269.2%

£10,738

-25%

£14,317

-15.9%

£17,021

Stock

0

-

0

-100%

£10,672

-13.8%

£12,378

-

£12,378

Trade Debtors

0

-

0

-

0

-

0

-

0

Cash

£1,900,591

428.9%

£359,364

-33.8%

£542,647

-49.9%

£1,083,474

142.9%

£446,096

Other Debtors

£48,528

-4.7%

£50,935

-26.9%

£69,687

-4.5%

£72,985

-88.3%

£623,658

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£1,949,119

375%

£410,299

-34.1%

£623,006

-46.7%

£1,168,837

8%

£1,082,132

Trade Creditors

£1,597,264

568%

£239,102

0.5%

£237,850

-70.6%

£809,386

18%

£686,205

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

£183,001

576.6%

£27,049

-82.9%

£158,574

305.4%

£39,112

76%

£22,226

Total Current Liabilities

£1,780,265

568.9%

£266,151

-32.9%

£396,424

-53.3%

£848,498

19.8%

£708,431

Bank Loans & Overdrafts and LTL

0

-

0

-

0

-

0

-

0

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

 

Capital & Reserves

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Called Up Share Capital

£1,000

-

£1,000

-

£1,000

-

£1,000

-

£1,000

P & L Account Reserve

£198,824

8.8%

£182,798

-22.6%

£236,320

-29.2%

£333,656

-14.4%

£389,722

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£199,824

8.7%

£183,798

-22.6%

£237,320

-29.1%

£334,656

-14.3%

£390,722

 

Other Financial Items

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Net Worth

£199,824

8.7%

£183,798

-22.6%

£237,320

-29.1%

£334,656

-14.3%

£390,722

Working Capital

£168,854

17.1%

£144,148

-36.4%

£226,582

-29.3%

£320,339

-14.3%

£373,701

Total Assets

£1,980,089

340.1%

£449,949

-29%

£633,744

-46.4%

£1,183,154

7.6%

£1,099,153

Total Liabilities

£1,780,265

568.9%

£266,151

-32.9%

£396,424

-53.3%

£848,498

19.8%

£708,431

Net Assets

£199,824

8.7%

£183,798

-22.6%

£237,320

-29.1%

£334,656

-14.3%

£390,722

 

Cash Flow

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

Miscellaneous

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£199,824

8.7%

£183,798

-22.6%

£237,320

-29.1%

£334,656

-14.3%

£390,722

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

 

Auditor Comments

The company is exempt from audit

Bankers

BANK OF IRELAND

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/12/09

31/12/08

31/12/07

31/12/06

31/12/05

Pre-tax profit margin %

1.94

4.09

6.76

16.29

3.02

Current ratio

1.09

1.54

1.57

1.38

1.53

Sales/Net Working Capital

6.90

7.36

4.48

2.25

-

Gearing %

0

0

0

0

0

Equity in %

10.10

40.80

37.40

28.30

35.50

Creditor Days

499.31

81.98

85.34

408

416.22

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

1.09

1.54

1.54

1.36

1.51

Return On Capital Employed %

11.29

23.61

28.89

35.15

4.66

Return On Total Assets Employed %

1.13

9.64

10.81

9.94

1.66

Current Debt Ratio

8.90

1.44

1.67

2.53

1.81

Total Debt Ratio

8.90

1.44

1.67

2.53

1.81

Stock Turnover Ratio %

-

-

1.05

1.71

2.06

Return on Net Assets Employed %

11.29

23.61

28.89

35.15

4.66

 

Status History

 

No Status History found

 



Event History

 

Date

Description

 

06/09/2010

New Accounts Filed

 

17/03/2010

Annual Returns

 

23/10/2009

New Accounts Filed

 

13/10/2009

Mr V.Y. Margossian has left the board

 

13/10/2009

New Board Member Mr N. Margossian appointed

 

07/06/2009

Annual Returns

 

15/04/2009

Change in Reg.Office

 

15/04/2009

Change of Company Postcode

 

28/10/2008

New Accounts Filed

 

29/04/2008

Annual Returns

 

25/04/2008

Annual Returns

 

26/10/2007

New Accounts Filed

 

01/11/2006

New Accounts Filed

 

14/03/2006

Change in Reg.Office

 

27/10/2005

New Accounts Filed

 

 

Limit History

 

Date

Limit

06/09/2010

£90,000

23/10/2009

£16,500

13/10/2009

£0

02/10/2009

£0

05/06/2009

£12,000

08/03/2009

£12,000

28/10/2008

£40,000

26/10/2007

£38,000

01/11/2006

£50,000

27/10/2005

£60,000

 

Previous Company Names

 

Date

Previous Name

Companies House Documents

04/04/2000

STARGATE IMPORT

 

Group Structure Summary

 

Company Name

DERMATECH INTERNATIONAL LIMITED

Company Number

03939110

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

Companies in group

-

 

Group structure

 

No group structure

 



 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.21

UK Pound

1

Rs.72.55

Euro

1

Rs.62.43

 

 

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.