MIRA INFORM REPORT

 

 

Report Date :           

01.08.2012

 

IDENTIFICATION DETAILS

 

Name :

FORAS LTD.

 

 

Registered Office :

West Head Farm, Stow Bridge, Kings Lynn, PE34 3NJ, Norfolk County

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.11.2010

 

 

Date of Incorporation :

02.03.2005

 

 

Com. Reg. No.:

05379827

 

 

Legal Form :

Private Independent

 

 

Line of Business :

Retail sale of hardware, paints and glass

 

 

No. of Employees :

02

 

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 :

Moderate

 

 

Payment Behaviour :

Slow

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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 name

 

 Foras Ltd.                                                                                                                                            

 

West Head Farm

Stow Bridge

Kings Lynn, PE34 3NJ

United Kingdom

Tel: 01366 381069

 Website: www.foras.co.uk

 

 

Employees:

2

Company Type:

Private Independent

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

02-Mar-2005

Auditor:

Steve Pye & Co

Financials in:

USD (Millions)

 

 

Fiscal Year End:

30-Nov-2010

Reporting Currency:

British Pound Sterling

Annual Sales:

NA

Total Assets:

0.6

 

 

Business Description   

 

 

Stone Articles Manufacture

 

 

Industry    

 

 

Industry

Retail (Home Improvement)

ANZSIC 2006:

42 - Other Store-Based Retailing

NACE 2002:

5246 - Retail sale of hardware, paints and glass

NAICS 2002:

4441 - Building Material and Supplies Dealers

UK SIC 2003:

5246 - Retail sale of hardware, paints and glass

US SIC 1987:

52 - Building Materials, Hardware, Garden Supply, and Mobile Home Dealers

 

 

 Key Executives    

 

 

Name

Title

John Robert Wootton

Director

Claire Louise Brutnall

Business Consultant

Sharat Chandra Bhasin

Ships Captain

 

 

News

               

 

Title

Date

Governors of trad music take over historic gaol
Belfast Telegraph (Northern Ireland) (223 Words)

26-Jul-2012

Flats fail to sell but still cost a bomb
Times of India (403 Words)

29-Apr-2012

35,000 unsold flats in Mumbai: report; figures are exaggerated, say builders
Hindustan Times (India) (265 Words)

25-Apr-2012

Bandra flat rates soar 300% in 6 years
Times of India (689 Words)

16-Apr-2012

Shinty shock: Speak English and you will be sent off
Herald, The (Scotland) (579 Words)

7-Apr-2012

 

 

Financial Summary    

 

 

FYE: 30-Nov-2010

USD (mil)

Key Figures

 

Current Assets

0.48

Fixed Assets

0.13

Total Liabilities

0.0000

Net Worth

0.03

 

Key Ratios

 

Current Ratio

0.85

Liquidity Ratio

0.04

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6454747
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6421164

 

 

Corporate Overview

 

Location
West Head Farm
Stow Bridge
Kings Lynn, PE34 3NJ
Norfolk County
United Kingdom

 

Tel:

01366 381069

 

www.foras.co.uk

Sales GBP(mil):

NA

Assets GBP(mil):

0.4

Employees:

2

Fiscal Year End:

30-Nov-2010

 

KeyIDSM:

51285913

Industry:

Retail (Home Improvement)

Registered Address:
49 Castle Rising Road
South Wootton
King'S Lynn, PE30 3JA
United Kingdom

 

Incorporation Date:

02-Mar-2005

Company Type:

Private Independent

Quoted Status:

Not Quoted

Registered No.(UK):

05379827

 

Director:

John Robert Wootton

 

 

 

 

 

Industry Codes

 

 

ANZSIC 2006 Codes:

42

-

Other Store-Based Retailing

 

NACE 2002 Codes:

5246

-

Retail sale of hardware, paints and glass

 

NAICS 2002 Codes:

4441

-

Building Material and Supplies Dealers

 

US SIC 1987:

52

-

Building Materials, Hardware, Garden Supply, and Mobile Home Dealers

 

UK SIC 2003:

5246

-

Retail sale of hardware, paints and glass

 

 

Business Description

 

Stone Articles Manufacture

 

 

Financial Data

 

Financials in:

GBP(mil)

 

Assets:

0.4

Current Assets:

0.3

 

Fixed Assets:

0.1

 

Long Term Debt:

0.0

 

Issued Capital:

NaN

 

Working Capital:

-0.1

 

Net Worth:

0.0

 

 

 

Date of Financial Data:

30-Nov-2010

 

1 Year Growth

NA

 

 

Key Corporate Relationships

 

 

Auditor:

Steve Pye & Co

Bank:

Hsbc Bank Plc

 

Auditor:

Steve Pye & Co

 

 

 

GBP(mil)

Audit Fees:

0.0

Audit Fiscal Year:

11-30-2010

 

 

Executives Report

 

Board of Directors

 

 

Name

Title

Function

Sharat Chandra Bhasin

 

Ships Captain

Director/Board Member

Age: 52

 

Claire Louise Brutnall

Business Consultant

Director/Board Member

Age: 43

 

John Robert Wootton

 

Director

Director/Board Member

Age: 49

 

 

 

Executives

 

 

Name

Title

Function

Source

John Robert Wootton

 

Director

Company Secretary

RM 

Age: 49

 

 

 

Directors and Shareholders Report

 

Main Office Address:
West Head Farm
Kings Lynn
United Kingdom PE34 3NJ

Tel: 01366 381069
URL: http://www.foras.co.uk

Annual Return Date: 02 Mar 2012

 

 

 Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

Sharat Chandra
Bhasin

Current

17 Aug 1959

17/201 Heritage City Complex, Mehrauli Gurgan Road,
Haryana

02 Mar 2005

NA

Current:1
Previous:0
Disqualifications:0

Claire Louise
Brutnall

Current

13 Apr 1969

West Head Farm, Stowbridge,
King'S Lynn, Norfolk PE34 3NJ

02 Mar 2005

NA

Current:1
Previous:0
Disqualifications:0

John Robert
Wootton

Current

22 Jan 1963

Westhead Farm, Stowbridge,
King'S Lynn, Norfolk PE34 3NJ

02 Mar 2005

NA

Current:3
Previous:1
Disqualifications:0

 

Corporate Directors

 

There are no corporate directors for this company.

 

Individual Secretaries

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

John Robert
Wootton

Current

22 Jan 1963

Westhead Farm, Stowbridge,
King'S Lynn, Norfolk PE34 3NJ

02 Mar 2005

NA

Current:3
Previous:1
Disqualifications:0

 

Corporate Secretaries

 

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Swift Incorporations Limited

Previous

26 Church Street,
St John's Wood, London NW8 8EP

02 Mar 2005

02 Mar 2005

 

 

Individual Shareholders

 

Name

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

John Robert Wootton

100 Ordinary GBP 1.00

Ordinary

100

1.00

100.00

100.00

 

 

 

 

 

 

 

 

Corporate Shareholders

There are no corporate shareholders for this company.

 

 

Annual Profit & Loss

 

Financials in: USD (mil)                                                                

Except for share items (millions) and per share items (actual units)  

 

 

 

 

 

30-Nov-2010

30-Nov-2009

30-Nov-2008

28-Feb-2007

28-Feb-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.645475

0.646269

0.530439

0.533995

0.556261

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Audit Fees

0.0

0.0

0.0

0.0

0.0

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

30-Nov-2010

30-Nov-2009

30-Nov-2008

28-Feb-2007

28-Feb-2006

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.642116

0.609347

0.651699

0.510269

0.571021

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Tangible Fixed Assets

0.1

0.1

0.1

0.1

0.0

Total Fixed Assets

0.1

0.1

0.1

0.1

0.0

Total Stocks

0.5

0.3

0.4

0.3

0.1

Trade Debtors

0.0

0.1

0.0

0.1

0.0

Cash and Equivalents

0.0

0.0

0.0

-

0.0

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

0.5

0.4

0.4

0.4

0.1

Total Assets

0.6

0.5

0.5

0.5

0.2

Trade Creditors

0.6

0.5

0.6

0.6

0.0

Bank Overdraft

0.0

0.0

0.0

0.0

0.0

Bank Loan Overdrafts

0.0

0.0

0.0

0.0

0.0

Director Loans

-

-

-

-

0.2

Total Short Term Loans

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

0.0

0.0

0.0

0.0

0.0

Working Capital

-0.1

-0.1

-0.2

-0.2

-0.1

Total Long Term Loans

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

0.0

0.0

0.0

0.0

0.0

Issued Capital

0.0

-

-

-

-

Retained Earnings

0.0

0.0

-0.1

-0.1

0.0

Total Reserve

0.0

0.0

-0.1

-0.1

0.0

Total Shareholders Funds

0.0

0.0

-0.1

-0.1

0.0

Net Worth

0.0

0.0

-0.1

-0.1

0.0

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

30-Nov-2010

30-Nov-2009

30-Nov-2008

28-Feb-2007

28-Feb-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.645475

0.646269

0.530439

0.533995

0.556261

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Paid Up Equity

0.0

0.0

0.0

0.0

0.0

 

Annual Ratios

 

 

 

 

30-Nov-2010

30-Nov-2009

30-Nov-2008

28-Feb-2007

28-Feb-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

-

-

-

-

-

Exchange Rate

-

-

-

-

-

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

0.85

0.78

0.71

0.69

0.63

Liquidity Ratio

0.04

0.14

0.08

0.20

0.13

Solvency Ratio

5.06%

0.14%

-14.47%

-11.50%

-21.56%

Current Debt Ratio

18.31

698.53

-7.81

-9.62

-5.64

Long Term Debt Ratio

0.31

0.79

-0.11

-0.08

0.00

Total Debt Ratio

18.77

702.29

-7.91

-9.70

-5.64

Debt Asset Ratio

92.63%

99.32%

113.10%

110.61%

121.56%

Working Finance

3,427.03%

14,563.35%

5,878.18%

8,486.41%

-

Stock Financing

-5.54

-2.98

-2.23

-1.55

-1.37

Fixed Asset Investment

0.21

0.22

0.19

0.24

0.23

Shareholder Liquidity

2.19

0.27

-10.52

-12.87

-

Stock to Total Assets

133.37%

156.53%

138.74%

184.89%

162.99%

Financial Strength Ratio

1.35

4.69

0.70

0.80

0.76

Reserve Movement

5,267.66%

-100.73%

60.96%

41.05%

-

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.81

UK Pound

1

Rs.87.67

Euro

1

Rs.68.45

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.