MIRA INFORM REPORT
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Report Date : |
01.10.2011 |
IDENTIFICATION DETAILS
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Name : |
ATIQUE TEXTILES LTD. |
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Registered Office : |
117-119 White Abbey Road, Bradford, BD8 8DR |
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Country : |
United Kingdom |
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Financials (as on) : |
31.07.2010 |
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Date of Incorporation : |
29.06.2002 |
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Com. Reg. No.: |
04473851 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Provider of fabrics and ready-made garment |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
GBP 1,30,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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) |
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United Kingdom |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Atique Textiles Ltd.
117-119 White Abbey Road
Bradford, BD8 8DR
United Kingdom
Tel: 01274 488812
Fax: 01274 488813
Synthesis
Employees: 14
Company Type: Private Independent
Quoted Status: Non-quoted Company
Incorporation Date:
29-Jun-2002
Auditor: Bayoor Accountants Ltd
Financials in: USD
(Millions)
Fiscal Year End:
31-Jul-2010
Reporting Currency: British
Pound Sterling
Annual Sales: 4.6
1
Net Income: 0.1
Total Assets: 4.6
Credit Limit GBP 1,30,000
Business Description
Atique Textiles
Ltd. is a provider of fabrics and ready-made garments in the United Kingdom. It
retails a wide range of fabrics, including chiffon, silk, cotton and polyester.
In addition, its ready-made garments comprise ethnic suits, evening dresses,
long shirts, shawls and flowing skirts. The company also retails women’s
footwear, necklaces, earrings, bangles and bags. In addition, it wholesales
fabrics and ready-made garments throughout the world. Its women’s footwear
features ethnic slip-ons with beads, stones and glass. (Updated by OneSource
Information Services)
Industry
Industry Apparel and Accessories
ANZSIC 2006: 3711 - Textile
Product Wholesaling
NACE 2002: 5141 - Wholesale
of textiles
NAICS 2002: 424310 - Piece
Goods, Notions, and Other Dry Goods Merchant Wholesalers
UK SIC 2003: 5141 - Wholesale
of textiles
US SIC 1987: 5131 - Piece
Goods, Notions, and Other Dry Good
Key Executives
|
Name |
Title |
|
Atique Rehman Saddique |
Secretary |
|
Mushtaq Ahmed |
Director |
|
Mahroof Akhtar |
Director |
|
Sakina Bibi |
Director |
|
Atia Bi Hussain |
Director |
Financial Summary
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FYE: 31-Jul-2010 |
USD (mil) |
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Registered No.(UK): 04473851
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6371955
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6385288
Corporate Overview
Location
117-119 White Abbey Road
Bradford, BD8 8DR
West Yorkshire County
United Kingdom
Tel: 01274 488812
Fax: 01274 488813
Sales GBP(mil): 2.9
Assets GBP(mil): 3.0
Employees: 14
Fiscal Year End: 31-Jul-2010
Industry: Apparel
and Accessories
Credit Limit GBP 1,30,000
Registered
Address:
117-119 White Abbey Road
Bradford, BD8 8DR
United Kingdom
Incorporation Date: 29-Jun-2002
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(UK): 04473851
Director: Mushtaq
Ahmed
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3711 - Textile Product Wholesaling
4259 - Other Personal Accessory Retailing
NACE 2002 Codes:
5141 - Wholesale of textiles
5241 - Retail sale of textiles
NAICS 2002 Codes:
424310 - Piece Goods, Notions, and Other Dry Goods Merchant
Wholesalers
448 - Clothing and Clothing Accessories Stores
US SIC 1987:
5131 - Piece Goods, Notions, and Other Dry Good
5949 - Sewing, Needlework, and Piece Goods Stores
UK SIC 2003:
5141 - Wholesale of textiles
5241 - Retail sale of textiles
Business
Description
Atique Textiles
Ltd. is a provider of fabrics and ready-made garments in the United Kingdom. It
retails a wide range of fabrics, including chiffon, silk, cotton and polyester.
In addition, its ready-made garments comprise ethnic suits, evening dresses,
long shirts, shawls and flowing skirts. The company also retails women’s
footwear, necklaces, earrings, bangles and bags. In addition, it wholesales
fabrics and ready-made garments throughout the world. Its women’s footwear
features ethnic slip-ons with beads, stones and glass.
More Business
Descriptions
Textile Merchants
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Executive report
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Board of
Directors |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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Secretary |
Company Secretary |
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Directors and Shareholders Report
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Main Office
Address: |
Tel: 01274 488812 |
Annual Return Date: 14 Jun 2011 |
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of
Directorships |
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Current |
22 Feb 1958 |
9 Selborne Grove, |
29 Jun 2002 |
NA |
Current:1 |
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Current |
17 May 1957 |
9 Selborne Grove, |
29 Jun 2002 |
NA |
Current:1 |
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Current |
25 Feb 1931 |
5 Selborne Grove, |
29 Jun 2002 |
NA |
Current:1 |
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Current |
10 Oct 1933 |
5 Selborne Grove, |
29 Jun 2002 |
NA |
Current:1 |
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Current |
19 Aug 1970 |
5 Selborne Grove, |
29 Jun 2002 |
NA |
Current:1 |
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Current |
25 Feb 1965 |
5 Selborne Grove, |
29 Jun 2002 |
NA |
Current:2 |
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Corporate Directors |
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There are no corporate directors for this company. |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
25 Feb 1965 |
5 Selborne Grove, |
29 Jun 2002 |
NA |
Current:2 |
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Kevin |
Previous |
21 Apr 1952 |
6070 Solihull Parkway, Birmingham Business Park, |
NA |
29 Jun 2002 |
Current:12 |
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Corporate Secretaries |
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There are no corporate secretaries for this company. |
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Individual Shareholders |
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Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
Atia Bi Hussain |
100 Ordinary GBP 1.00 |
Ordinary |
100 |
1.00 |
100.00 |
16.67 |
|
Atique Rheman Saddique |
100 Ordinary GBP 1.00 |
Ordinary |
100 |
1.00 |
100.00 |
16.67 |
|
Mahroof Akhtar |
100 Ordinary GBP 1.00 |
Ordinary |
100 |
1.00 |
100.00 |
16.67 |
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Mohammed Saddique |
100 Ordinary GBP 1.00 |
Ordinary |
100 |
1.00 |
100.00 |
16.67 |
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Mushtaq Ahmed |
100 Ordinary GBP 1.00 |
Ordinary |
100 |
1.00 |
100.00 |
16.67 |
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Sakina Bibi |
100 Ordinary GBP 1.00 |
Ordinary |
100 |
1.00 |
100.00 |
16.67 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
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Annual Profit & Loss
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Jul-2010 |
31-Jul-2009 |
31-Jul-2008 |
31-Jul-2007 |
31-Jul-2006 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.637195 |
0.636663 |
0.500129 |
0.513635 |
0.560247 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Turnover |
4.6 |
4.3 |
6.1 |
6.0 |
5.6 |
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Cost of Sales |
3.3 |
3.1 |
4.6 |
4.6 |
4.3 |
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Gross Profit |
1.2 |
1.2 |
1.6 |
1.4 |
1.3 |
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Depreciation |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
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Other Expenses |
0.7 |
0.7 |
0.8 |
0.7 |
0.6 |
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Operating Profit |
0.5 |
- |
0.8 |
0.7 |
- |
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Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Interest Paid |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Profit Before Taxes |
0.5 |
0.5 |
0.7 |
0.7 |
0.7 |
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Tax Payable / Credit |
0.1 |
0.1 |
0.2 |
0.2 |
0.2 |
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Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Dividends |
0.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Profit After Taxes |
0.1 |
0.1 |
0.3 |
0.3 |
0.3 |
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Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Non Audit Fees |
- |
0.0 |
0.0 |
0.0 |
0.0 |
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Number of Employees |
14 |
14 |
12 |
13 |
11 |
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Wages |
- |
- |
- |
0.2 |
0.2 |
|
Social Security Costs |
- |
- |
- |
0.0 |
0.0 |
|
Other Pension Costs |
- |
- |
- |
0.0 |
0.0 |
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Employees Remuneration |
0.3 |
0.2 |
0.2 |
0.2 |
0.2 |
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Directors Remuneration |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Balance Sheet
Financials
in: USD (mil)
|
|
31-Jul-2010 |
31-Jul-2009 |
31-Jul-2008 |
31-Jul-2007 |
31-Jul-2006 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.638529 |
0.603191 |
0.504821 |
0.492114 |
0.535604 |
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Consolidated |
No |
No |
No |
No |
No |
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Land & Buildings |
2.3 |
2.4 |
3.0 |
2.8 |
2.6 |
|
Fixtures & Fittings |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Plant & Vehicles |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Total Tangible Fixed Assets |
2.4 |
2.6 |
3.2 |
3.0 |
2.7 |
|
Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Fixed Assets |
2.4 |
2.6 |
3.2 |
3.0 |
2.7 |
|
Total Stocks Work In Progress |
0.8 |
0.8 |
0.9 |
1.0 |
0.9 |
|
Trade Debtors |
0.6 |
0.7 |
0.9 |
1.0 |
0.9 |
|
Inter-Company Debtors |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Debtors |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debtors |
0.6 |
0.7 |
0.9 |
1.0 |
0.9 |
|
Cash and Equivalents |
0.8 |
0.9 |
1.6 |
1.0 |
0.5 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
2.3 |
2.3 |
3.4 |
3.0 |
2.3 |
|
Total Assets |
4.6 |
4.8 |
6.5 |
6.0 |
5.0 |
|
Trade Creditors |
0.5 |
0.5 |
0.6 |
0.9 |
0.5 |
|
Bank Overdraft |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inter-Company Creditors |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Finance Lease (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Finance Lease/Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Short Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Current Liability) |
0.1 |
0.1 |
0.2 |
0.1 |
0.3 |
|
Social Security/VAT |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Corporation Tax |
0.1 |
0.1 |
0.2 |
0.2 |
0.2 |
|
Dividends (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Current Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Liabilities |
0.8 |
0.8 |
1.0 |
1.2 |
0.9 |
|
Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Long Term Liability) |
0.2 |
0.4 |
1.5 |
1.5 |
1.4 |
|
Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
0.2 |
0.4 |
1.5 |
1.5 |
1.4 |
|
Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issued Capital |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Share Premium Accounts |
1.8 |
1.8 |
2.1 |
1.6 |
1.5 |
|
Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
1.9 |
1.8 |
2.0 |
1.7 |
1.2 |
|
Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Shareholders Funds |
3.7 |
3.7 |
4.1 |
3.3 |
2.7 |
|
Net Worth |
3.7 |
3.7 |
4.1 |
3.3 |
2.7 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Jul-2010 |
31-Jul-2009 |
31-Jul-2008 |
31-Jul-2007 |
31-Jul-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.637195 |
0.636663 |
0.500129 |
0.513635 |
0.560247 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
Annual Ratios
Financials
in: USD (mil)
|
|
31-Jul-2010 |
31-Jul-2009 |
31-Jul-2008 |
31-Jul-2007 |
31-Jul-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.638529 |
0.603191 |
0.504821 |
0.492114 |
0.535604 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
2.96 |
2.89 |
3.49 |
2.56 |
2.48 |
|
Liquidity Ratio |
1.90 |
1.94 |
2.58 |
1.69 |
1.50 |
|
Stock Turnover |
5.59 |
6.05 |
6.86 |
6.15 |
6.36 |
|
Credit Period (Days) |
51.57 |
54.12 |
55.31 |
56.10 |
53.99 |
|
Working Capital by Sales |
33.03% |
32.80% |
39.59% |
28.98% |
23.59% |
|
Trade Credit by Debtors |
0.85 |
0.82 |
0.64 |
0.92 |
0.58 |
|
Return on Capital |
13.11% |
12.73% |
13.23% |
15.27% |
17.95% |
|
Return on Assets |
10.95% |
10.66% |
11.28% |
12.30% |
14.64% |
|
Profit Margin |
11.17% |
11.39% |
12.13% |
11.75% |
12.59% |
|
Return on Shareholders Funds |
13.92% |
14.13% |
17.98% |
22.23% |
27.11% |
|
Borrowing Ratio |
6.13% |
11.01% |
35.91% |
45.58% |
50.99% |
|
Equity Gearing |
78.64% |
75.46% |
62.71% |
55.35% |
53.99% |
|
Debt Gearing |
6.13% |
11.01% |
35.91% |
45.58% |
50.99% |
|
Interest Coverage |
40.95 |
38.16 |
39.23 |
32.12 |
40.54 |
|
Sales by Tangible Assets |
1.92 |
1.77 |
1.92 |
2.08 |
2.15 |
|
Average Remuneration per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit per Employee |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Sales per Employee |
0.3 |
0.3 |
0.5 |
0.5 |
0.5 |
|
Capital Employed per Employee |
0.3 |
0.3 |
0.5 |
0.4 |
0.4 |
|
Tangible Assets per Employee |
0.2 |
0.2 |
0.3 |
0.2 |
0.2 |
|
Total Assets per Employee |
0.3 |
0.3 |
0.5 |
0.5 |
0.5 |
|
Employee Remuneration by Sales |
6.20% |
5.17% |
4.01% |
3.88% |
2.72% |
|
Creditor Days (Cost of Sales Based) |
59.83 |
60.59 |
47.14 |
68.17 |
40.54 |
|
Creditor Days (Sales Based) |
43.79 |
44.12 |
35.21 |
51.73 |
31.12 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.93 |
|
UK Pound |
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.65 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.