|
Report Date : |
18.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
ALPHA STATE APPARELS LIMITED |
|
|
|
|
Registered Office : |
7 Breasy Place, 9 Burroughs Gardens Hendon, London, Nw4
4au |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.01.2012 |
|
|
|
|
Date of Incorporation : |
02.02.2006 |
|
|
|
|
Reg. No.: |
05695598 |
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|
|
|
Legal Form : |
Private Limited |
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|
|
|
Line of Business : |
Manufacturers of clothing. |
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|
|
|
No. of Employees : |
Not Available |
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 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
United Kingdom - ECONOMIC OVERVIEW
The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aims to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 23% by 2015. The Bank of England (BoE) implemented an asset purchase program of up to £325 billion (approximately $525 billion) as of February 2011. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU).
|
Source : CIA |
|
Subject Reported on |
|
|
Registration Number |
05695598 |
|
Legal Form |
Private Limited |
|
Registration Number |
05695598 |
|
Subject Status |
Trading |
|
Date of Incorporation |
02/02/2006 |
|
Registered Office |
7 BREASY PLACE, 9 BURROUGHS GARDENS HENDON, LONDON, NW4
4AU. |
|
History |
9/04/2010 : The Registered Office address changed from
REGENCY CHAMBERS, ALPINE HOUSE, HONEYPOT LANE. |
|
|
7/06/2006 : The Registered Office address changed from KMA
HOUSE, 103 DEVONSHIRE ROAD, LONDON, NW7 1. |
|
Date of Last Annual Return to Registry |
02/02/2012 |
|
Accounts |
The last filed accounts at Companies House are those to
31/01/2012 |
|
Accounting Reference Date |
31/01 |
|
Activities |
Manufacturers of clothing. |
|
Nace Code |
1822 |
|
Auditors |
KMA Associates |
|
Date |
Monthly Credit Guide |
|
15/12/2012 |
56,500 |
|
15/09/2012 |
78,500 |
|
15/06/2012 |
56,000 |
|
15/03/2012 |
78,500 |
|
15/12/2011 |
56,500 |
|
Search History Summary |
|
Last 3 Months |
Last 6 Months |
Last 12 Months |
|
0 |
2 |
2 |
|
Search History Details |
|
|
|
The Search History Details shows details of the most
recent 40 searches |
|
Date |
Description |
|
26/07/2012 |
Miscellaneous |
|
26/07/2012 |
Miscellaneous |
|
Summary of CCJ's/Scottish Decrees |
|
No CCJs/Scottish Decrees are recorded in our file. |
|
Date |
Source |
Description |
|
25/06/2012 |
Companies House Gazette |
All documents required to be delivered to the registrar
under section 441 (annual accounts and reports) |
|
13/09/2008 |
Companies House Gazette |
Alteration in memorandum or articles of association |
|
10/02/2006 |
Companies House Gazette |
Change among directors of a company |
|
Secretary |
HITEKSHA DHERESH HARIA |
|
Service Address |
35 FOSCOTE ROAD, HENDON, LONDON, NW4 3SE. |
|
Country of Origin |
UNITED KINGDOM |
|
Date of Birth |
29/03/1977 |
|
Appointment Date |
01/06/2006 |
|
Other Directorships |
TITAN CONSULTANCY LIMITED |
|
Director |
FRAZER PATERSON |
|
Service Address |
76 WEST END, BRAMPTON, HUNTINGDON, CAMBRIDGESHIRE, PE28
4UD. |
|
Country of Origin |
UNITED KINGDOM |
|
Date of Birth |
23/05/1960 |
|
Appointment Date |
02/02/2006 |
|
Other Directorships |
TIGER LEASH (UK) LIMITED, BLUE COLLAR WORKER LIMITED |
|
Shares |
Ordinary GBP 1.00 |
|
Issued Number |
100 |
|
Shares |
Ordinary A GBP 1.00 |
|
Issued Number |
200 |
|
Principal Shareholder |
200 Titan Nominees Ltd |
|
|
50 Frazer Paterson |
|
|
50 Roberta Paterson |
The above reflects the principle shareholder(s) by number of shares
held, irrespective of share classification type.
Profit & Loss Accounts are not available for companies categorised
as small companies under the companies act.
|
Balance Sheet |
|
The following figures are shown in units
of 1000 |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/01/2012 |
31/01/2011 |
31/01/2010 |
31/01/2009 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
TOTAL FIXED ASSETS |
8 |
6 |
15 |
27 |
|
Tangible Assets |
6 |
6 |
15 |
27 |
|
Intangible Assets |
2 |
|
|
|
|
TOTAL CURRENT ASSETS |
819 |
594 |
464 |
478 |
|
Trade debtors |
230 |
228 |
122 |
15 |
|
Stocks |
443 |
135 |
243 |
33 |
|
Other Current Assets |
146 |
231 |
99 |
430 |
|
Cash |
146 |
231 |
99 |
430 |
|
TOTAL ASSETS |
827 |
600 |
479 |
505 |
|
TOTAL CURRENT LIABILITIES |
498 |
325 |
275 |
275 |
|
Trade creditors |
498 |
325 |
275 |
275 |
|
WORKING CAPITAL |
321 |
269 |
189 |
203 |
|
TOTAL LONG TERM LIABS |
|
|
5 |
9 |
|
NET ASSETS/(LIABILITIES) |
329 |
275 |
199 |
221 |
|
SHARE CAPITAL + RESERVES |
329 |
275 |
199 |
221 |
|
Profit and Loss account |
329 |
275 |
199 |
221 |
|
SHAREHOLDERS FUNDS |
329 |
275 |
199 |
221 |
|
CAPITAL EMPLOYED |
329 |
275 |
204 |
230 |
Financial Comparison
The following figures are shown in units
of 1000
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/01/2012 |
31/01/2011 |
31/01/2010 |
31/01/2009 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Liquid Assets |
376 |
459 |
221 |
445 |
|
Net Working Capital |
321 |
269 |
189 |
203 |
|
Other Deferred Liabs |
|
|
5 |
9 |
|
Tangible Net Worth(T.N.W) |
327 |
275 |
199 |
221 |
|
Equity |
329 |
275 |
199 |
221 |
|
Number of Years Trading |
6 |
5 |
4 |
3 |
Key Credit Ratios
The following figures are shown as Ratios or
Percentages
|
Accounts Date |
31/01/2012 |
31/01/2011 |
31/01/2010 |
31/01/2009 |
|
Current Ratio |
1.6 |
1.8 |
1.7 |
1.7 |
|
Quick Ratio |
0.8 |
1.4 |
0.8 |
1.6 |
|
T.N.W/Total Assets% |
39.5 |
45.8 |
41.5 |
43.8 |
|
Equity Gearing% |
66.1 |
84.6 |
71.1 |
77.8 |
|
Year |
2012 |
2011 |
2010 |
2009 |
|
Sample Size |
472 |
2333 |
2240 |
2167 |
|
Pre-Tax Profit Margin |
5.5 |
1.5 |
(1.9) |
0.1 |
|
Current Ratio |
1.4 |
1.3 |
1.3 |
1.3 |
|
Borrowing Ratio |
141.9 |
44.5 |
15.5 |
3.1 |
|
Return on Capital |
55.4 |
30.7 |
32.5 |
36.9 |
|
Creditors Days |
53 |
105 |
131 |
74 |
Above figures relate to companies in 2003 Standard Industry
Classification (Nace) sector : Manufacture of other wearing apparel and
accessories
|
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
shown on the Balance Sheet is GBP 54,000 increase. This suggests that the
Company may have made a post-tax profit of GBP 54,000. |
|
Working Capital |
|
The company's working capital has improved in the period
by 19 %. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
|
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.71.85 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.