MIRA INFORM REPORT

 

 

Report Date :

24.12.2012

 

IDENTIFICATION DETAILS

 

Name :

UNICORN INGREDIENTS LTD

 

 

 

 

Registered Office :

9 Bridle Close Surbiton Road Kingston Upon Thames, KT1 2JW

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

28.03.2008

 

 

Com. Reg. No.:

06547767

 

 

Legal Form :

Private Independent

 

 

Line of Business :

Wholesale of other food including fish, crustaceans and molluscs

 

 

No. of Employees :

7

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but correct

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

Company name and address

 

Top of Form

Bottom of Form

Top of Form

 

Unicorn Ingredients Ltd

                                                                                                                                                   

 

9 Bridle Close

Surbiton Road

 

Kingston Upon Thames, KT1 2JW

United Kingdom


Registered Address

 

 (Trading Address)

4-6 South Street, Epsom Surry LT 18 7PF

 

 

Employees:

7

Company Type:

Private Independent

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

28-Mar-2008

Auditor:

James Worley & Sons

Financials in:

USD (mil)

 

 

Fiscal Year End:

31-Mar-2011

Reporting Currency:

British Pound Sterling

Annual Sales:

19.2  1

Net Income:

0.0

Total Assets:

5.5

                                         

Business Description          

 

Wholesale of grain.

 

Industry                

 

Industry

Retail (Grocery)

ANZSIC 2006:

360 - Grocery, Liquor and Tobacco Product Wholesaling

NACE 2002:

5138 - Wholesale of other food including fish, crustaceans and molluscs

NAICS 2002:

424460 - Fish and Seafood Merchant Wholesalers

UK SIC 2003:

5138 - Wholesale of other food including fish, crustaceans and molluscs

UK SIC 2007:

4638 - Wholesale of other food, including fish, crustaceans and molluscs

US SIC 1987:

514 - Groceries and Related Products

                      

Key Executives            

   

 

Name

Title

Sally Claire Horan

Secretary

Nicola Janice Divers

Director

Francis James Horan

Director

   

Financial Summary                                                    

 

FYE: 31-Mar-2011

USD (mil)

Key Figures

 

Current Assets

5.48

Fixed Assets

0.04

Total Liabilities

4.32

Net Worth

0.12

 

Key Ratios

 

Current Ratio

1.27

Acid Test

0.84

Debt Gearing

898.09

 

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6433939
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6238497

 

 

Corporate Overview

 

Location
9 Bridle Close
Surbiton Road
Kingston Upon Thames, KT1 2JW
Surrey County
United Kingdom

 

 

 

Suggest Company URL

 

Sales GBP(mil):

12.4

Assets GBP(mil):

3.4

Employees:

7

Fiscal Year End:

31-Mar-2011

 

Industry:

Retail (Grocery)

Registered Address:
9 Bridle Close
Surbiton Road
Kingston Upon Thames, United Kingdom

 

Incorporation Date:

28-Mar-2008

Company Type:

Private Independent

Quoted Status:

Not Quoted

Registered No.(UK):

06547767

 

Director:

Nicola Janice Divers

 

Industry Codes

 

ANZSIC 2006 Codes:

360

-

Grocery, Liquor and Tobacco Product Wholesaling

 

NACE 2002 Codes:

5138

-

Wholesale of other food including fish, crustaceans and molluscs

 

NAICS 2002 Codes:

424460

-

Fish and Seafood Merchant Wholesalers

 

US SIC 1987:

514

-

Groceries and Related Products

 

UK SIC 2003:

5138

-

Wholesale of other food including fish, crustaceans and molluscs

 

UK SIC 2007:

4638

-

Wholesale of other food, including fish, crustaceans and molluscs

 

 

Business Description

Wholesale of grain.

 

 

 

 

 

 

 

 

Financial Data

 

Financials in:

GBP(mil)

 

Revenue:

12.4

Net Income:

0.0

Assets:

3.4

Current Assets:

3.4

 

Fixed Assets:

0.0

 

Long Term Debt:

0.7

 

Total Liabilities:

3.4

 

Issued Capital:

0.0

 

Working Capital:

0.7

 

Net Worth:

0.1

 

 

 

Date of Financial Data:

31-Mar-2011

 

1 Year Growth

21.6%

NA

NA

 

Key Corporate Relationships

Auditor:

James Worley & Sons

 

Auditor:

James Worley & Sons

 

 

 

GBP(mil)

Audit Fees:

0.0

Audit Fiscal Year:

03-31-2011

 

 

 

 

 

 

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

Nicola Janice Divers

 

Director

Director/Board Member

Age: 52

 

Francis James Horan

 

Director

Director/Board Member

 

 

Age: 50

 

 

Executives

 

Name

Title

Function

Sally Claire Horan

 

Secretary

Company Secretary

 

Directors and Shareholders Report

 

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Nicola Janice
Divers

Current

23 Nov 1960

26 Stanhope Avenue,
Keston, Kent BR2 7JR

28 Mar 2009

NA

Current:2
Previous:0
Disqualifications:0

 

Francis James
Horan

Current

17 Sep 1962

186 Park Road,
Kingston Upon Thames, Surrey KT2 5LS

28 Mar 2008

NA

Current:2
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

 

Sally Claire
Horan

Current

NA

186 Park Road,
Kingston Upon Thames, Surrey KT2 5LS

28 Mar 2008

NA

Current:1
Previous:0
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

 

There are no corporate secretaries for this company.

 

 

Individual Shareholders

 

Name

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Colano Ltd

1 Ordinary GBP 1.00

Ordinary

1

1.00

1.00

25.00

Francis James Horan

1 Ordinary GBP 1.00

Ordinary

1

1.00

1.00

25.00

New Tapstones Ltd

1 Ordinary GBP 1.00

Ordinary

1

1.00

1.00

25.00

Nikki Divers

1 Ordinary GBP 1.00

Ordinary

1

1.00

1.00

25.00

 

 

 

 

 

 

 

 

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)

 

 

 

 

 

 

 

31-Mar-2011

31-Mar-2010

31-Mar-2009

Period Length

52 Weeks

52 Weeks

53 Weeks

Filed Currency

GBP

GBP

GBP

Exchange Rate (Period Average)

0.643394

0.627794

0.592803

Consolidated

No

No

No

 

 

 

 

Turnover (UK)

10.7

12.5

-

Turnover (Exports)

8.5

3.7

-

Total Turnover

19.2

16.2

6.7

Cost of Sales

18.4

15.4

6.3

Gross Profit

0.8

0.8

0.4

Depreciation

0.0

0.0

0.0

Other Expenses

0.4

0.5

0.2

Operating Profit

0.4

-

-

Other Income

0.0

0.0

0.0

Interest Paid

0.1

0.1

0.0

Exceptional Income

0.0

0.0

0.0

Discontinued Operations

0.0

-

-

Profit Before Taxes

0.3

0.3

0.2

Tax Payable / Credit

0.1

0.1

0.0

Extraordinary Items/Debits

0.0

0.0

0.0

Dividends

0.2

0.2

0.2

Profit After Taxes

0.0

0.1

0.0

Minority Interests (Profit & Loss)

0.0

0.0

0.0

Audit Fees

0.0

0.0

-

Number of Employees

7

-

-

Wages

0.2

-

-

Social Security Costs

0.0

-

-

Other Pension Costs

0.0

-

-

Employees Remuneration

0.2

0.1

-

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Mar-2011

31-Mar-2010

31-Mar-2009

Filed Currency

GBP

GBP

GBP

Exchange Rate

0.62385

0.659239

0.697666

Consolidated

No

No

No

 

 

 

 

Land & Buildings

0.0

0.0

0.0

Fixtures & Fittings

0.0

0.0

0.0

Plant & Vehicles

0.0

0.0

0.0

Total Tangible Fixed Assets

0.0

0.0

0.0

Intangible Assets

0.0

0.0

0.0

Investments

0.0

0.0

0.0

Total Fixed Assets

0.0

0.0

0.0

Stocks

1.9

-

-

Work in Progress

0.0

-

-

Total Stocks Work In Progress

1.9

1.7

0.9

Trade Debtors

3.1

1.9

1.5

Other Debtors

0.1

0.1

0.3

Total Debtors

3.2

1.9

1.9

Cash and Equivalents

0.5

0.5

0.4

Other Current Assets

0.0

0.0

0.0

Total Current Assets

5.5

4.2

3.1

Total Assets

5.5

4.2

3.2

Trade Creditors

4.0

2.8

2.1

Accruals/Deferred Income (Current Liability)

0.2

-

-

Social Security/VAT

-

0.1

0.0

Corporation Tax

0.1

-

-

Other Current Liabilities

0.1

0.2

0.1

Total Current Liabilities

4.3

3.1

2.2

Group Loans (Long Term Liability)

0.0

-

-

Director Loans (Long Term Liability)

0.0

-

-

Hire Purchase (Long Term Liability)

0.0

-

-

Leasing (Long Term Liability)

0.0

-

-

Total Hire Purchase Loans (Long Term Liability)

0.0

-

-

Other Long Term Loans

1.1

-

-

Accruals/Deferred Income (Long Term Liability)

0.0

-

-

Other Long Term Liabilities

0.0

1.0

1.0

Total Long Term Liabilities

1.1

1.0

1.0

Deferred Taxation

0.0

0.0

0.0

Other Provisions

0.0

0.0

0.0

Total Provisions

0.0

0.0

0.0

Issued Capital

0.0

0.0

0.0

Share Premium Accounts

0.0

0.0

0.0

Revaluation Reserve

0.0

0.0

0.0

Retained Earnings

0.1

0.1

0.0

Other Reserves

0.0

0.0

0.0

Minority Interests (Balance Sheet)

0.0

0.0

0.0

Total Shareholders Funds

0.1

0.1

0.0

Net Worth

0.1

0.1

0.0

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Mar-2011

31-Mar-2010

31-Mar-2009

Period Length

52 Weeks

52 Weeks

53 Weeks

Filed Currency

GBP

GBP

GBP

Exchange Rate (Period Average)

0.643394

0.627794

0.592803

Consolidated

No

No

No

 

 

 

 

Net Cash Flow From Operating Activities

0.3

-

-

Net Cash Flow from ROI and Servicing of Finance

-0.1

-

-

Taxation

-0.1

-

-

Capital Expenditures

0.0

-

-

Acquisitions and Disposals

0.0

-

-

Paid Up Equity

-0.2

-

-

Management of Liquid Resources

0.0

-

-

Net Cash Flow From Financing

0.0

-

-

Increase in Cash

-0.1

-

-

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Mar-2011

31-Mar-2010

31-Mar-2009

Period Length

52 Weeks

52 Weeks

53 Weeks

Filed Currency

GBP

GBP

GBP

Exchange Rate

0.62385

0.659239

0.697666

Consolidated

No

No

No

 

 

 

 

Current Ratio

1.27

1.35

1.44

Liquidity Ratio

0.84

0.79

1.04

Stock Turnover

10.72

8.98

6.33

Credit Period (Days)

56.27

43.76

101.25

Working Capital by Sales

5.87%

7.00%

17.22%

Trade Credit by Debtors

1.30

1.52

1.34

Return on Capital

26.83%

29.32%

17.85%

Return on Assets

5.85%

7.76%

5.48%

Profit Margin

1.63%

2.11%

3.11%

Return on Shareholders Funds

267.79%

370.77%

14,117.74%

Borrowing Ratio

898.09%

-

-

Equity Gearing

2.18%

2.09%

0.04%

Debt Gearing

898.09%

-

-

Interest Coverage

4.55

5.12

6.51

Sales by Tangible Assets

500.19

489.75

479.24

Average Remuneration per Employee

0.0

-

-

Profit per Employee

0.0

-

-

Sales per Employee

2.8

-

-

Capital Employed per Employee

0.2

-

-

Tangible Assets per Employee

0.0

-

-

Total Assets per Employee

0.8

-

-

Employee Remuneration by Sales

0.99%

0.67%

-

Creditor Days (Cost of Sales Based)

76.49

69.93

143.35

Creditor Days (Sales Based)

73.19

66.40

135.39

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.08

UK Pound

1

Rs.89.53

Euro

1

Rs.72.77

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.