MIRA INFORM REPORT

 

 

Report Date :

26.05.2011

 

IDENTIFICATION DETAILS

 

Name :

TECWIN LIMITED

 

 

Registered Office :

Unit 14 Old Forge Trading Est, Dudley Road, Stourbridge, West Midlands, DY9 8EL.

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

21.01.2004

 

 

Com. Reg. No.:

05021739

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Import and exporters of forgings

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Poor

 

 

Payment Behaviour :

Unknown

 

 

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

 

 

Company Identification Details

 

Subject Reported on

TECWIN LIMITED

Registration Number

05021739

VAT Number

GB851986189

Address

UNIT 14 OLD FORGE TRADING EST, DUDLEY ROAD, STOURBRIDGE, WEST MIDLANDS, DY9 8EL.

Telephone

01384 892 244

Facsimile

01384 896 610

 

 

Official Company Data

 

 

Legal Form

Private Limited

Registration Number

05021739

VAT Number

GB851986189

Subject Status

Trading

Date of Incorporation

21/01/2004

Registered Office

"THE OLD DOCTOR'S HOUSE", 74 GRANGE ROAD, DUDLEY, WEST MIDLANDS, DY1 2AW.

History

29/07/2009 : The Registered Office address changed from 7 PARSONS STREET, DUDLEY, WEST MIDLANDS, DY1.

 

9/07/2005 : The Registered Office address changed from 368 LICKEY ROAD, REDNAL, BIRMINGHAM, B45 8RZ,.

 

24/05/2005 : The Registered Office address changed from 181 COLE VALLEY ROAD, HALL GREEN, BIRMINGHAM,.

 

20/03/2004 : The Registered Office address changed from RUSKIN CHAMBERS, 191 CORPORATION STREET, BIRM.

Date of Last Annual Return to Registry

21/01/2011

Accounts

The last filed accounts at Companies House are those to 31/03/2010

Accounting Reference Date

31/03

 

 

Operations

 

 

Activities

Import and exporters of forgings.

Nace Code

7134

Premises

Rented,Warehouse

Import Countries

INDIA

Export Countries

ALL OVER THE WORLD

Bankers

LLOYDS TSB BANK PLC

Address

NORTHFIELD.

Sort Code

309612

 

 

 

Previous Searches

 

Search History Summary

 

Last 3 Months

Last 6 Months

Last 12 Months

1

1

5

 

Search History Details

 

The Search History Details shows details of the most recent 40 searches

 

Date

Description

20/05/2011

Miscellaneous

15/11/2010

Other financial intermediation not elsewhere classified

15/11/2010

Other financial intermediation not elsewhere classified

07/09/2010

Other financial intermediation not elsewhere classified

07/09/2010

Other financial intermediation not elsewhere classified

01/10/2009

Miscellaneous

 

 

Public Record Information

 

 

Summary of CCJ's/Scottish Decrees

 

Period

Last 72 Months

Last 36 Months

Last 18 Months

Amount Summary

2,265

2,265

2,265

Count Summary

1

1

1

Unsettled Amount Summary

2,265

2,265

2,265

 

Details of the most recent CCJ's/Scottish Decrees

 

Date

Amount

Type

Case No

Satisfied

Court

27/01/2011

2,265

Judgment

0LS10233

 

LEEDS

 

 

Summary of Mortgages, Charges and Satisfactions

 

 

Total Number of Mortgages/Charges Registered

3

Number Outstanding

3

Number Partially Satisfied

0

Number Satisfied

0

 

 

Date of Latest Mortgage Created

10/06/2009

 

 

Details of most recent Mortgages, Charges and Satisfactions

 

 

Date Fully
Satisfied

Date
Registered

Date
Created

Charge
Description

Form Type

Lender

 

18/06/2009

10/06/2009

Debenture

395

Regency Factors Plc

 

11/03/2009

26/02/2009

Debenture

395

Regency Factors Plc

 

07/04/2004

31/03/2004

Debenture

395

Regency Factors Plc

 

It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.

 

 

Other Filings and Notices

 

 

Date

Source

Description

 

15/04/2004

Companies House Gazette

Change among directors of a company

20/03/2004

Companies House Gazette

Change among directors of a company

02/02/2004

Companies House Gazette

Change among directors of a company

 

 

Company Secretary

 

 

Secretary

MRS ANGELA BASS

Service Address

368 LICKEY ROAD, REDNAL, BIRMINGHAM, WEST MIDLANDS, B45 8RZ.

Country of Origin

UNITED KINGDOM

Date of Birth

12/11/1951

Appointment Date

02/02/2004

 

 

 

 

 

 

 

Directors

 

 

Director

MR ALAN BASS

Service Address

"THE OLD DOCTOR'S HOUSE" 74 GRANGE, DUDLEY, WEST MIDLANDS, DY1 2AW.

Country of Origin

UNITED KINGDOM

Date of Birth

26/09/1950

Appointment Date

02/02/2004

 

 

Share Capital

 

 

Shares

Ordinary GBP 1.00

Issued Number

1

Principal Shareholder

1 A. Bass

 

The above reflects the principle shareholder(s) by number of shares held, irrespective of share classification type.

 

 

 

 

Financial Data– Statutory Accounts

 

 

Profit & Loss Accounts are not available for companies categorised as small companies under the companies act.

 

For annual accounts images, view the Document Image list

 

Balance Sheet

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/03/2010

31/03/2009

31/03/2008

31/03/2007

Currency

GBP

GBP

GBP

GBP

TOTAL FIXED ASSETS

36

40

28

32

Tangible Assets

36

40

28

32

TOTAL CURRENT ASSETS

92

72

32

28

Trade debtors

73

63

24

12

Stocks

19

4

7

10

Other Current Assets

 

5

1

6

Cash

 

5

1

6

TOTAL ASSETS

128

112

60

60

TOTAL CURRENT LIABILITIES

131

93

32

47

Trade creditors

131

93

32

47

WORKING CAPITAL

(39)

(21)

 

(19)

TOTAL LONG TERM LIABS

14

30

15

4

NET ASSETS/(LIABILITIES)

(17)

(11)

13

9

SHARE CAPITAL + RESERVES

(17)

(11)

13

9

Profit and Loss account

(17)

(11)

13

9

SHAREHOLDERS FUNDS

(17)

(11)

13

9

CAPITAL EMPLOYED

(3)

19

28

13

 

Financial Comparison

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/03/2010

31/03/2009

31/03/2008

31/03/2007

Currency

GBP

GBP

GBP

GBP

Liquid Assets

73

68

25

18

Net Working Capital

(39)

(21)

 

(19)

Other Deferred Liabs

14

30

15

4

Tangible Net Worth(T.N.W)

(17)

(11)

13

9

Equity

(17)

(11)

13

9

Number of Years Trading

6

5

4

3

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

31/03/2010

31/03/2009

31/03/2008

31/03/2007

Current Ratio

0.7

0.8

1

0.6

Quick Ratio

0.6

0.7

0.8

0.4

T.N.W/Total Assets%

(13.3)

(9.8)

21.7

15

Equity Gearing%

(11.7)

(8.9)

27.7

17.6

 

 

Key Industry Sector Trends

 

 

Year

2010

2009

2008

2007

Sample Size

2615

3677

3660

3618

Pre-Tax Profit Margin

5.9

5.9

9.8

11.6

Current Ratio

1.2

1.2

1.1

1.1

Borrowing Ratio

94.2

125.5

141.4

156

Return on Capital

14.4

18.3

26.1

30

Creditors Days

85

111

80

66

 

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Renting of other machinery and equipment

 

 

Financial Summary

 

 

Auditors Qualification

The company has taken advantage of exemptions under the Companies Act such that the accounts have not been audited or examined.

 

No Turnover

The company's balance sheet total is less than GBP 2,800,001 and therefore this is a small company as defined by the Companies Act.It is not required to disclose turnover but it is likely to be less than GBP 5,600,000.

 

No Pre-Tax Profit

The Company is exempt from the requirement to file a Profit Loss Account. We note that the difference on the Profit and Loss Account shownon the Balance Sheet is GBP 6,000 decrease. This suggests that the Company may have made a post-tax loss of GBP 6,000.

 

Working Capital

The company's working capital deficiency increased in the period and now totals GBP 39,000.

 

Net Worth

The company's negative net worth increased during the year by GBP 6,000 and is now deficient by GBP 17,000.

 

Fixed Assets

The subject's fixed assets reduced during the year by GBP 4,000 to GBP 36,000 and are now 28 % of total assets compared with 35 % in the previous year.

 

Long Term Liabilities

The company's long term liabilities reduced during the period by 53 % and are now 82 % of net worth compared with 273 % in the previous period.

 

Long Term Liabilities

Long term liabilities are now 11 % of total liabilities compared with 27 % in the previous period.

 

Long Term Liabilities

Long term liabilities are 467 % of capital employed, a decrease of 625 % over the previous period.


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.38

UK Pound

1

Rs.73.31

Euro

1

Rs.63.70

 

 

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

--

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.