MIRA INFORM REPORT

 

 

Report Date :           

18.05.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

GLOBAL METCORP LIMITED

 

 

Registered Office :

York House 8th Floor, Empire Way, Wembley, Ha9 0pa

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

31.08.2009

 

 

Date of Incorporation :

30.08.2001

 

 

Com. Reg. No.:

04278981

 

 

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 :

£100,000

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 – 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

 

Company summary

 Bottom of Form

 

Top of Form

Company Name

GLOBAL METCORP LIMITED

Company Number

04278981

Registered Address

YORK HOUSE 8TH FLOOR

Trading Address

20 Leigh Court
Byron Hill Road
Harrow
HA2 0HZ

 

EMPIRE WAY

 

 

WEMBLEY

 

 

HA9 0PA

 

 

 

 

 

Website Address

-

 

 

Telephone Number

02087828744

Fax Number

 

TPS

No

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.

Accounts Due Date

31/12/2010

Credit Limit

 

Limit

£100,000

Previous Limit

£105,000

Contract Limit

£19,950,000

 

 

 

 

Commentary

 

No exact match CCJs are recorded against the company.

 

The credit limit on this company has fallen 4.8% in comparison to the previously suggested 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 has changed its registered address recently.

 

The company was established over 9 years ago.

 

 

 

 

 

 

 

 

Last 3 Years Credit Limit

 

Date

Limit

31/12/2010

£100,000

31/12/2009

£52,000

31/12/2008

£30,000

 

 

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

-

 

 

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

3

 

 

 

 

 

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

7

 

 

Current Directors

 

Name

Ashish Chaudhari

Date of Birth

08/01/1979

Officers Title

Mr

Nationality

Indian

Present Appointments

4

Function

Director

Appointment Date

27/08/2002

 

 

Address

20 Leigh Court,  Byron Hill Road,  Harrow,  HA2 0HZ

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Aditya Chopra

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

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

 

Current Company Secretary

 

Name

Ritesh Shah

Date of Birth

-

Officers Title

Mr

Nationality

Indian

Present Appointments

1

Function

Company Secretary

Appointment Date

01/09/2007

 

 

Address

7 Saint James Gardens,  ,  Wembley,  HA0 4LH

Other Actions

 

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 



Top 20 Shareholders

 

Name

Individual Share Value

MR ASHISH CHAUDHARI

125,300 ORDINARY GBP 1.00

MR NITESH CHAUDHARI

122,794 ORDINARY GBP 1.00

MRS ADARSH SHRIKANT

2,506 ORDINARY GBP 1.00

 

 

Profit & Loss

 

Date Of Accounts

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

 

Date Of Accounts

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

 

Date Of Accounts

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

-

-

-

-

-

-

Auditors

KING & KING

Auditor Comments

The audit report contains no adverse comments

Bankers

HSBC BANK PLC

Bank Branch Code

40-38-04

 

 

Ratios

Date Of Accounts

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

 

16/11/2010

Annual Returns

 

02/08/2010

Change in Reg.Office

 

02/08/2010

Change of Company Postcode

 

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

 

 

 

Rating History

 

Date

Rating

Description

30/09/2010

73

Very Good Credit Worthiness

02/08/2010

74

Very Good Credit Worthiness

09/06/2010

63

Good Credit Worthiness

04/06/2010

Not Rated

Financial Statements too old

14/10/2009

63

Good Credit Worthiness

07/07/2009

62

Good Credit Worthiness

02/07/2009

Not Rated

Financial Statements too old

20/02/2009

24

Caution - Credit at your discretion

28/08/2008

58

Good Credit Worthiness

04/08/2008

0

Financial Statements too old

 

 

Limit History

 

Date

Limit

30/09/2010

£100,000

02/08/2010

£105,000

09/06/2010

£90,000

04/06/2010

-

14/10/2009

£52,000

07/07/2009

£52,000

02/07/2009

-

20/02/2009

£0

28/08/2008

£30,000

04/08/2008

£0

 

 

Previous Company Names

 

No Previous Names found

 

Group Structure Summary

 

Company Name

GLOBAL METCORP LIMITED

Company Number

04278981

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

Companies in group

-

 

 

Group structure

 

No group structure



Bottom of Form

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.07

UK Pound

1

Rs.63.57

Euro

1

Rs.72.97

 

 

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.