MIRA INFORM REPORT

 

 

Report Date :

17.02.2012

 

IDENTIFICATION DETAILS

 

Name :

EUROPA IMPORT EXPORT LIMITED

 

 

Registered Office :

6th Floor 25 Farringdon Street, London, EC4A 4AB.

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.04.2011

 

 

Date of Incorporation :

29.09.1986

 

 

Com. Reg. No.:

02059651

 

 

Legal Form :

Private Limited

 

 

Line of Business :

The export of steel.

 

 

No. of Employees :

7

 

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 :

GBP 100,000

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 – September 30, 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 Identification Details

 

Subject Reported on

EUROPA IMPORT EXPORT LIMITED

Registration Number

02059651

VAT Number

GB512689536

Address

3-8 PORCHESTER GATE, BAYSWATER ROAD, LONDON, W2 3HP.

Telephone

020 7221 3449

Facsimile

020 7221 7461

 

Creditline Recommendations

 

Monthly Credit Guide

GBP 100,000

 

 

 

 

Official Company Data

 

 

Legal Form

Private Limited

Registration Number

02059651

VAT Number

GB512689536

Subject Status

Trading

Date of Incorporation

29/09/1986

Registered Office

6TH FLOOR 25 FARRINGDON STREET, LONDON, EC4A 4AB.

History

26/01/2012 : The Registered Office address changed from 2 BLOOMSBURY STREET,LONDON,RAYLEIGH,ESSEX,WC1.

Date of Last Annual Return to Registry

31/12/2011

Registered Objectives

TO CARRY ON BUSINESS AS GENERAL DEALERS

Accounts

The last filed accounts at Companies House are those to 30/04/2011

Accounting Reference Date

30/04

 

 

 

Operations

 

 

Activities

Exporters The export of steel.

Nace Code

5152

Premises

Leased,Offices

Staff Employed

7

Import Countries

ALL OVER THE WORLD

Export Countries

ALL OVER THE WORLD

Bankers

BARCLAYS BANK PLC

Address

93-97 QUEENSWAY, LONDON, W2 4QG.

Auditors

Baker Tilly UK Audit LLP

 

 

 

 

Previous Searches

 

Search History Summary

 

Last 3 Months

Last 6 Months

Last 12 Months

0

1

1

 

Search History Details

 

The Search History Details shows details of the most recent 40 searches

 

Date

Description

31/08/2011

Miscellaneous

11/10/2010

Miscellaneous

 

 

 

Public Record Information

 

 

Summary of CCJ's/Scottish Decrees

 

No CCJs/Scottish Decrees are recorded in our file.

 

 

 

Summary of Mortgages, Charges and Satisfactions

 

 

Total Number of Mortgages/Charges Registered

10

Number Outstanding

2

Number Partially Satisfied

0

Number Satisfied

8

 

 

Date of Latest Mortgage Created

10/03/2009

Date of Latest Satisfaction

08/10/2008

 

 

 

 

 

 

 

 

Details of most recent Mortgages, Charges and Satisfactions

 

 

Date Fully
Satisfied

Date
Registered

Date
Created

Charge
Description

Form Type

Lender

 

18/03/2009

10/03/2009

A Trade Finance Security Deed (Tfsd) Executed Outside The United....

395

BanqueCantonaleVaudoise

 

22/07/2008

02/07/2008

Debenture

395

Eurocom Investments Limited

08/10/2008

26/02/2001

19/02/2001

A General Pledge Agreement

395

BanqueCantonale De Geneve

08/10/2008

26/02/2001

19/02/2001

An Assignment Of Claims

395

BanqueCantonale De Geneve

08/10/2008

26/02/2001

19/02/2001

An Assignment Of Receivables

395

BanqueCantonale De Geneve

08/10/2008

26/02/2001

19/02/2001

A Pledge Of Goods

395

BanqueCantonale De Geneve

08/10/2008

27/01/2001

24/01/2001

Trade Finance Security Agreement

395

Unted European Bank

20/01/2001

02/09/1991

14/08/1991

Letter Of Charge

N/A

Barclays Bank Plc

20/01/2001

27/04/1988

18/04/1988

Letter Of Charge

N/A

Bank Of Credit & Commerce International SocieteAnonyme

28/04/1992

 

18/04/1988

Letter Of Charge

N/A

 

 

It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.

 

 

 

Other Filings and Notices

 

 

Date

Source

Description

 

26/01/2012

Companies House Gazette

Notification of any change of the company's registered office

26/01/2012

Companies House Gazette

All documents required to be delivered to the registrar under section 441 (annual accounts and reports)

28/01/1999

Companies House Gazette

Resolutions which give vary

17/11/1988

Companies House Gazette

Documents delivered by a company under section 241 (annual accounts)

21/11/1986

Companies House Gazette

Change among directors of a company

21/11/1986

Companies House Gazette

Change in the situation of a company's registered office

 

 

Company Secretary

 

 

Secretary

ABDUL MAJID ABDUL MALIK

Service Address

3-8 PORCHESTER GATE, NO 35 BAYSWATER ROAD, LONDON, W2 3HP.

Country of Origin

UNITED KINGDOM

Date of Birth

07/03/1941

Appointment Date

31/12/1991

Other Directorships

INTERCONTINENTAL IMPEX LIMITED, EUROCOM INVESTMENTS LIMITED

 

 

 

Directors

 

 

Director

ABDUL MAJID ABDUL MALIK

Service Address

3-8 PORCHESTER GATE, NO 35 BAYSWATER ROAD, LONDON, W2 3HP.

Country of Origin

UNITED KINGDOM

Date of Birth

07/03/1941

Appointment Date

14/11/1986

Other Directorships

INTERCONTINENTAL IMPEX LIMITED, EUROCOM INVESTMENTS LIMITED


Director


GULZAR ABDUL MAJID MALIK

Service Address

3-8 PORCHESTER GATE, NO 35 BAYSWATER ROAD, LONDON, W2 3HP.

Country of Origin

PAKISTAN

Date of Birth

14/02/1946

Appointment Date

14/11/1986

Other Directorships

INTERCONTINENTAL IMPEX LIMITED, EUROCOM INVESTMENTS LIMITED

 

 

 

Share Capital

 

 

Shares

Ordinary GBP 1.00

Issued Number

12

Principal Shareholder

12 Eurocom Investments Ltd

 

The above reflects the principle shareholder(s) by number of shares held, irrespective of share classification type.

 

Holding Company

EUROCOM INVESTMENTS LIMITED

Ultimate Parent

EUROCOM INVESTMENTS LIMITED

 

 

 

Financial Data– Statutory Accounts

 

 

For annual accounts images, view the

 

Profit and Loss

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

30/04/2011

30/04/2010

30/04/2009

30/04/2008

Currency

USD

USD

USD

USD

SALES

131426

182517

193173

173900

Export

 

 

193173

173900

Cost of goods sold

129237

178401

178964

170274

GROSS PROFIT

2189

4116

14209

3626

Wages and Salaries

355

635

650

271

Directors Emoluments

213

364

417

26

Auditors Fees

10

15

18

23

Non-Audit Fees

6

7

14

27

Trading Profit

1799

3053

11703

1767

Depreciation

5

5

13

6

OPERATING PROFIT

1794

3048

11690

1761

Non Trading Income

56

364

445

346

Interest Payable

436

820

961

112

PRE TAX PROFIT

1414

2592

11174

1995

Taxation

102

721

3144

591

PROFIT AFTER TAX

1312

1871

8030

1404

Dividends Payable

268

3194

17196

239

RETAINED PROFITS

1044

(1323)

(9166)

1165

 

Balance Sheet

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

30/04/2011

30/04/2010

30/04/2009

30/04/2008

Currency

USD

USD

USD

USD

TOTAL FIXED ASSETS

15

17

2

18

Tangible Assets

15

17

2

18

Fixed Assets

13

15

 

16

Intermediate assets

2

2

2

2

TOTAL CURRENT ASSETS

23728

32543

58461

39539

Trade debtors

1466

11590

21446

13396

Stocks

433

1245

20365

8832

Other Current Assets

21829

19708

16650

17311

Misc Current Assets

1148

6138

12718

7133

Cash

20681

13570

3932

10178

TOTAL ASSETS

23743

32560

58463

39557

TOTAL CURRENT LIABILITIES

16857

26718

51298

23226

Trade creditors

1589

4495

2913

1583

Short Term Loans

14000

18195

46673

20416

Bank Overdraft

 

4195

32673

20415

Due To Group

14000

14000

14000

 

Due To Directors

 

 

 

1

Other Liabilities

1268

4028

1712

1227

WORKING CAPITAL

6871

5825

7163

16313

NET ASSETS/(LIABILITIES)

6886

5842

7165

16331

SHARE CAPITAL + RESERVES

6886

5842

7165

16331

Profit and Loss account

6886

5842

7165

16331

SHAREHOLDERS FUNDS

6886

5842

7165

16331

CAPITAL EMPLOYED

6886

5842

7165

16331

 

Financial Comparison

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

30/04/2011

30/04/2010

30/04/2009

30/04/2008

Currency

USD

USD

USD

USD

Net Cashflow from Oper.

 

 

 

(12803)

Increase in Cash

 

 

 

(13610)

Directors Remuneration

213

364

417

26

Auditors Remuneration

10

15

18

23

Liquid Assets

22147

25160

25378

23574

Net Working Capital

6871

5825

7163

16313

Investments/Long Term Ass.

 

 

1

 

Tangible Net Worth(T.N.W)

6886

5842

7165

16331

Equity

6886

5842

7165

16331

Number of Years Trading

25

24

23

22

Number of Employees

7

8

8

8

Profit per Employee

202000

324000

1396750

249375

Sales per Employee

18775142.9

22814625

24146625

21737500

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

30/04/2011

30/04/2010

30/04/2009

30/04/2008

Current Ratio

1.4

1.2

1.1

1.7

Pre Tax Profit Margin%

1.1

1.4

5.8

1.1

Gross Profit%

1.7

2.3

7.4

2.1

Debtors Days (D.S.O)

4

23

41

28

Creditors Days (D.P.O)

4

9

6

3

Quick Ratio

1.4

1.2

0.7

1.3

W.I.P/Inventory Days

1.2

2.5

41.5

18.9

Return on Investment%

8.9

14.2

22.5

5.7

Return on Assets%

6

8

19.1

5

T.N.W/Total Assets%

29

17.9

12.3

41.3

Return on Capital%

20.5

44.4

156

12.2

Rtn on Shareholders Funds%

20.5

44.4

156

12.2

Working Capital/Sales%

5.2

3.2

3.7

9.4

Borrowing Ratio%

203.3

311.5

651.4

125

Equity Gearing%

40.8

21.9

14

70.3

Stock Turnover

303.5

146.6

9.5

19.7

Days Purchases Outstanding

4.5

9.2

5.9

3.4

Sales/Fixed Assets

10109.7

12167.8

 

10868.8

 

 

 

 

 

 

Key Industry Sector Trends

 

 

Year

2011

2010

2009

2008

Sample Size

2341

6292

6352

6455

Pre-Tax Profit Margin

4.4

3.4

2.5

3.5

Current Ratio

1.6

1.6

1.7

1.6

Borrowing Ratio

88.7

101

98.4

104.6

Return on Capital

25.6

22.1

21.2

26.8

Creditors Days

52

89

105

50

 

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Wholesale of non-agricultural intermediate products, waste and scrap

 

 

 

Financial Summary

 

 

Auditors Qualification

The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 30/04/2011.

 

Turnover

Turnover decreased by 28 % and reduced by 51,091,000 to USD 131,426,000.

 

Operating Profit

Totalled USD 1,794,000. In the year prior a Profit of USD 3,048,000 was achieved.

 

Pre Tax Profit

The subject's profit decreased by 45 % over the previous year.

 

Working Capital

The company's working capital has improved in the period by 18 %.




 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.49.25

UK Pound

1

Rs.77.45

Euro

1

Rs.64.89

 

 

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.