MIRA INFORM REPORT

 

 

Report Date :

30.05.2011

 

IDENTIFICATION DETAILS

 

Name :

LONDON METALS & COMMODITIES LIMITED

 

 

Registered Office :

Suite 164 8 Shepherd Market Mayfair W1J 7JY

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.10.2009

 

 

Date of Incorporation :

04.05.1988

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Trading in physical metal for export and acting as agents for manufacturers of metals and textiles.

 

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 :

£36,000

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 – 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

 

 

 

Summary

 

Top of Form

Company Name

LONDON METALS & COMMODITIES LIMITED

Company Number

02250875

Registered Address

SUITE 164

Trading Address

Suite 164
8 Shepherd Market
Mayfair
W1J 7JY

 

8 SHEPHERD MARKET

 

 

MAYFAIR

 

 

W1J 7JY

 

Website Address

-

 

 

Telephone Number

-

Fax Number

 

TPS

-

FPS

No

Incorporation Date

04/05/1988

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private limited with Share Capital

 

 

Filing Date of Accounts

02/02/2010

Date of Change

-

Share Capital

£5,559,600

Sic Code

5190

Currency

GBP

Sic Description

OTHER WHOLESALE

Principal Activity

Trading in physical metal for export and acting as agents for manufacturers of metals and textiles.

Accounts Due Date 31/07/2011

 

Credit Limit

 

Limit

£36,000

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/10/2009

£16,108,203

£178,302

-£116,730

2

31/10/2008

£30,829,159

£285,108

-£294,539

2

31/10/2007

£29,372,546

£205,855

-£579,647

2

 

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

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

2

 

Current Directors

 

Name

Balwant Singh Maru

Date of Birth

08/07/1941

Officers Title

Mr

Nationality

British

Present Appointments

7

Function

Director

Appointment Date

14/11/1991

 

 

Address

211 The Quadrangle Tower Cambridge Square,  ,  London,  W2 2PJ

 

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Rama Kant Rathi

Date of Birth

11/01/1941

Officers Title

Mr

Nationality

Swiss

Present Appointments

3

Function

Director

Appointment Date

14/11/1991

 

 

Address

Hanibuhl 19,  ,  6301 Zug, 

 

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

 

Name

Balwant Singh Maru

Date of Birth

08/07/1941

Officers Title

Mr

Nationality

British

Present Appointments

7

Function

Company Secretary

Appointment Date

14/11/1991

 

 

Address

211 The Quadrangle Tower Cambridge Square,  ,  London,  W2 2PJ

 

Other Actions

 

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 



Top 20 Shareholders

 

Name

Individual Share Value

SOUTH EAST ASIAN EXPORT SERVICES INC.

5,559,600 ORDINARY GBP 1.00

 

 

Profit & Loss

 

Date Of Accounts

31/10/09

(%)

31/10/08

(%)

31/10/07

(%)

31/10/06

(%)

31/10/05

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

£16,108,203

-47.8%

£30,829,159

5%

£29,372,546

11.2%

£26,423,003

-28.8%

£37,121,000

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

£15,624,350

-

£30,308,340

-

£28,950,684

-

£32,928,226

-10.6%

£36,814,000

Gross Profit

£483,853

-7.1%

£520,819

23.5%

£421,862

106.5%

-£6,505,223

-999.9%

£307,000

Wages & Salaries

£45,813

25.1%

£36,634

9.8%

£33,360

-53.6%

£71,837

-13.4%

£83,000

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

£177,720

-37.3%

£283,404

37.9%

£205,469

103%

-£6,783,831

-999.9%

£28,000

Depreciation

£2,219

30.8%

£1,696

-

£1,696

-

£1,696

-

-

Audit Fees

£1,800

-5.3%

£1,900

26.7%

£1,500

-31.8%

£2,200

10%

£2,000

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

£178,302

-37.5%

£285,108

38.5%

£205,855

103%

-£6,783,066

-999.9%

£29,000

Taxation

-£493

-

-

-

-

-

-

100%

-£9,000

Profit After Tax

£177,809

-37.6%

£285,108

38.5%

£205,855

103%

-£6,783,066

-999.9%

£20,000

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

£177,809

-37.6%

£285,108

38.5%

£205,855

103%

-£6,783,066

-999.9%

£20,000

 

Balance Sheet

 

Date Of Accounts

31/10/09

(%)

31/10/08

(%)

31/10/07

(%)

31/10/06

(%)

31/10/05

Tangible Assets

£7,229

21.1%

£5,969

-22.1%

£7,665

-18.1%

£9,361

4%

£9,000

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£7,229

21.1%

£5,969

-22.1%

£7,665

-18.1%

£9,361

4%

£9,000

Stock

£1,982,938

295.2%

£501,731

86.8%

£268,657

-62.5%

£715,990

-46.2%

£1,331,000

Trade Debtors

£3,215,098

16.6%

£2,756,633

2.9%

£2,679,012

999.9%

£116,102

-96.2%

£3,083,000

Cash

£415,673

700.7%

£51,911

749.5%

£6,111

-34.3%

£9,301

-55.7%

£21,000

Other Debtors

£485,972

59.2%

£305,257

0.4%

£304,037

-42.8%

£531,342

-57.1%

£1,240,000

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£6,099,681

68.7%

£3,615,532

11%

£3,257,817

137.3%

£1,372,735

-75.8%

£5,676,000

Trade Creditors

£2,582,309

-

0

-

0

-

0

-

0

Bank Loans & Overdrafts

£1,427,493

-23.1%

£1,856,064

-14.5%

£2,170,087

16.3%

£1,865,402

-44.2%

£3,346,000

Other Short Term Finance

£1,813,894

-2.1%

£1,852,196

17.3%

£1,579,120

-

0

-

0

Miscellaneous Current Liabilities

£399,944

92.5%

£207,780

116.6%

£95,922

-68.3%

£302,196

999.9%

£27,000

Total Current Liabilities

£6,223,640

58.9%

£3,916,040

1.8%

£3,845,129

77.4%

£2,167,598

-35.7%

£3,372,000

Bank Loans & Overdrafts and LTL

£1,427,493

-23.1%

£1,856,064

-14.5%

£2,170,087

16.3%

£1,865,402

-44.2%

£3,346,000

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

 

Capital & Reserves

 

Date Of Accounts

31/10/09

(%)

31/10/08

(%)

31/10/07

(%)

31/10/06

(%)

31/10/05

Called Up Share Capital

£5,559,600

-

£5,559,600

-

£5,559,600

-

£5,559,600

196.5%

£1,875,000

P & L Account Reserve

-£5,676,330

3%

-£5,854,139

4.6%

-£6,139,247

3.2%

-£6,345,102

-999.9%

£438,000

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

-£116,730

60.4%

-£294,539

49.2%

-£579,647

26.2%

-£785,502

-134%

£2,313,000

 

Other Financial Items

 

Date Of Accounts

31/10/09

(%)

31/10/08

(%)

31/10/07

(%)

31/10/06

(%)

31/10/05

Net Worth

-£116,730

60.4%

-£294,539

49.2%

-£579,647

26.2%

-£785,502

-134%

£2,313,000

Working Capital

-£123,959

58.8%

-£300,508

48.8%

-£587,312

26.1%

-£794,863

-134.5%

£2,304,000

Total Assets

£6,106,910

68.6%

£3,621,501

10.9%

£3,265,482

136.3%

£1,382,096

-75.7%

£5,685,000

Total Liabilities

£6,223,640

58.9%

£3,916,040

1.8%

£3,845,129

77.4%

£2,167,598

-35.7%

£3,372,000

Net Assets

-£116,730

60.4%

-£294,539

49.2%

-£579,647

26.2%

-£785,502

-134%

£2,313,000

 

Cash Flow

 

Date Of Accounts

31/10/09

(%)

31/10/08

(%)

31/10/07

(%)

31/10/06

(%)

31/10/05

Net Cashflow from Operations

£795,723

122.2%

£358,119

216.2%

-£308,261

86.1%

-£2,214,527

-296.1%

£1,129,000

Net Cashflow before Financing

£792,333

120.2%

£359,823

216.9%

-£307,875

86.1%

-£2,216,112

-298%

£1,119,000

Net Cashflow from Financing

-

-

-

-

-

-100%

£3,684,600

-

-

Increase in Cash

£792,333

120.2%

£359,823

216.9%

-£307,875

-121%

£1,468,488

31.2%

£1,119,000

Miscellaneous

 

Date Of Accounts

31/10/09

(%)

31/10/08

(%)

31/10/07

(%)

31/10/06

(%)

31/10/05

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

-£116,730

60.4%

-£294,539

49.2%

-£579,647

26.2%

-£785,502

-134%

£2,313,000

Number of Employees

2

-

2

-

2

-33.3%

3

-

3

Auditors

ODOOM & CO

Auditor Comments

The audit report contains no adverse comments

Bankers

UNION BANCAIRE PRIVEE

Bank Branch Code

23-19-35

 

Ratios

 

 

Date Of Accounts

31/10/09

31/10/08

31/10/07

31/10/06

31/10/05

 

Pre-tax profit margin %

1.11

0.92

0.70

-25.67

0.08

 

Current ratio

0.98

0.92

0.85

0.63

1.68

 

Sales/Net Working Capital

-129.95

-102.59

-50.01

-33.24

-

 

Gearing %

-1222.90

-630.20

-374.40

-237.50

144.70

 

Equity in %

-1.90

-8.10

-17.80

-56.80

40.70

 

Creditor Days

58.35

-

-

-

-

 

Debtor Days

72.65

32.54

33.20

1.60

30.31

 

Liquidity/Acid Test

0.66

0.79

0.78

0.30

1.29

 

Return On Capital Employed %

-152.74

-96.79

-35.51

863.53

1.25

 

Return On Total Assets Employed %

2.91

7.87

6.30

-490.78

0.51

 

Current Debt Ratio

-53.31

-13.29

-6.63

-2.75

1.46

 

Total Debt Ratio

-53.31

-13.29

-6.63

-2.75

1.46

 

Stock Turnover Ratio %

12.31

1.62

0.91

2.71

3.59

 

Return on Net Assets Employed %

-152.74

-96.79

-35.51

863.53

1.25

 

 

 

 

Status History

 

No Status History found

 

Event History

 

Date

Description

 

29/01/2011

Annual Returns

 

12/02/2010

New Accounts Filed

 

07/12/2009

Annual Returns

 

27/08/2009

New Accounts Filed

 

03/12/2008

Annual Returns

 

07/12/2007

New Accounts Filed

 

17/09/2007

New Accounts Filed

 

22/01/2007

Change in Reg.Office

 

22/01/2007

Change of Company Postcode

 

09/03/2006

New Accounts Filed

 

16/09/2005

New Accounts Filed

 

26/11/2004

Annual Returns

 

12/06/2004

Data Refresh

 

27/01/2004

parent company and ultimate parent

 

27/01/2004

company principal activities

 

 

Rating History

 

Date

Description

12/02/2010

Good Credit Worthiness

27/08/2009

Very Good Credit Worthiness

25/08/2009

Very Good Credit Worthiness

06/03/2009

Very Good Credit Worthiness

17/09/2007

Caution - Credit at your discretion

09/03/2006

Very Good Credit Worthiness

16/09/2005

Good Credit Worthiness

12/06/2004

Creditworthy

27/01/2004

Good Credit Worthiness

14/10/2003

Very Good Credit Worthiness

 

Limit History

 

Date

Limit

12/02/2010

£36,000

27/08/2009

£21,000

25/08/2009

£500

06/03/2009

£60,000

17/09/2007

£0

09/03/2006

£75,000

 

Previous Company Names

 

No Previous Names found

 

Group Structure Summary

 

Company Name

LONDON METALS & COMMODITIES LIMITED

Company Number

02250875

Holding Company

-

Ownership Status

Wholly Owned

Ultimate Holding Company

SOUTH EAST ASIAN EXPORT SERVICES INC

Companies in group

3

 

Group structure

 

Company Name

 

Safe Number

Registered Number

Latest Key Financials

Consol. Accounts

Rating

Limit

Turnover

SOUTH EAST ASIAN EXPORT SERVIC...

 

 

 

-

-

-

-

 

LONDON METALS & COMMODITIES...

 

UK01914483

02250875

31.10.2009

N

67

£36,000

£16,108,203

R T YARNS LIMITED

 

UK06523901

06881591

30.04.2010

N

N/R

-

 



Bottom of Form

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.21

UK Pound

1

Rs.74.31

Euro

1

Rs.64.40

 

 

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.