MIRA INFORM REPORT

 

 

Report Date :

09.06.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

MUKTI ENTERPRISES (UK) LTD.

 

 

Formerly Known As :

Edgefame Ltd.

 

 

Registered Office :

1 Deptford High Street, Deptford, London, SE8 4AD

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

31.08.2010

 

 

Date of Incorporation :

16.08.2005

 

 

Com. Reg. No.:

05537077

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

Wholesale, Retail; Certain Repair

 

 

No. of Employees :

Not Available

 

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 :

Poor

Payment Behaviour :

Unknown

Litigation :

---

 

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

United Kingdom 

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name & address 

 

Mukti Enterprises (Uk) Ltd.

1 Deptford High Street

Deptford

London, SE8 4AD

United Kingdom

 

 

Synthesis  

 

Employees:                  NA

Company Type: Private Subsidiary

Corporate Family:          2 Companies

Ultimate Parent: D & H News Ltd.

Quoted Status:             Non-quoted Company

Incorporation Date:         16-Aug-2005    

Financials in:                 USD (Millions)

Fiscal Year End:            31-Aug-2010

Reporting Currency:       British Pound Sterling

Annual Sales:               NA

Total Assets:                0.2

 

 

Business Description     

 

Wholesale, Retail; Certain Repair

 

Industry             

Industry            Food Processing

ANZSIC 2006:    3609 - Other Grocery Wholesaling

NACE 2002:      5137 - Wholesale of coffee, tea, cocoa and spices

NAICS 2002:     424490 - Other Grocery and Related Products Merchant Wholesalers

UK SIC 2003:    5137 - Wholesale of coffee, tea, cocoa and spices

US SIC 1987:    5149 - Groceries and Related Products, Not Elsewhere Classified

 

           

Key Executives   

 

Name

Title

Sharmistha Hasmukh Patel

Director

Hasmukh Dahyabhai Patel

Director

 

 

Financial Summary    

 

FYE: 31-Aug-2010         USD (mil)

Key Figures    

Current Assets              0.17

Fixed Assets                 0.02

Total Liabilities               0.0000

Net Worth                     -0.70

 

Key Ratios      

Current Ratio                 1.07

Liquidity Ratio                0.34

 

Registered No.(UK):       05537077

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6401024

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6506604

 

 

Corporate Overview

 

Location

1 Deptford High Street

Deptford

London, SE8 4AD

London County

United Kingdom

           

Sales GBP(mil):             NA

Assets GBP(mil):           0.1

Employees:                   NA

Fiscal Year End:            31-Aug-2010

Industry:                        Food Processing

           

Registered Address:

1 Deptford High Street

Deptford

London , SE8 4AD

United Kingdom

 

Incorporation Date:         16-Aug-2005

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Previous Name:             Edgefame Ltd.

Registered No.(UK):       05537077

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

3609     -          Other Grocery Wholesaling

 

NACE 2002 Codes:

5137     -          Wholesale of coffee, tea, cocoa and spices

 

NAICS 2002 Codes:

424490  -          Other Grocery and Related Products Merchant Wholesalers

 

US SIC 1987:

5149     -          Groceries and Related Products, Not Elsewhere Classified

 

UK SIC 2003:

5137     -          Wholesale of coffee, tea, cocoa and spices

 

Business Description

Wholesale, Retail; Certain Repair

 

Financial Data

Financials in:

GBP(mil)

 

Assets:

0.1

Current Assets:

0.1

 

Fixed Assets:

0.0

 

Long Term Debt:

0.0

 

Issued Capital:

NaN

 

Working Capital:

0.0

 

Net Worth:

-0.5

 

 

 

Date of Financial Data:

31-Aug-2010

 

1 Year Growth

NA

Key Corporate Relationships

 

 

GBP(mil)

Audit Fees:

0.0

Audit Fiscal Year:

08-31-2010

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

D & H News Ltd.
Mukti Enterprises (Uk) Ltd.

Mukti Enterprises (Uk) Ltd. 
Total Corporate Family Members: 2 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Source

D & H News Ltd.

Parent

London

United Kingdom

Retail (Grocery)

 

 

RM

Mukti Enterprises (Uk) Ltd.

Subsidiary

London

United Kingdom

Food Processing

 

 

RM

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Sharmistha Hasmukh Patel

 

Director

Director/Board Member

 

Hasmukh Dahyabhai Patel

 

Director

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Sharmistha Hasmukh Patel

 

Director

Company Secretary

 



Directors and Shareholders Report

 

Main Office Address:
1 Deptford High Street
Deptford
London
United Kingdom SE8 4AD

 

Annual Return Date: 16 Aug 2011

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Hasmukh Dahyabhai 
Patel

Current

31 Oct 1953

1-3 Deptford High Street, 
London , London SE8 4AD

16 Aug 2005

NA

Current:2
Previous:1
Disqualifications:0

 

Sharmistha Hasmukh 
Patel

Current

08 Aug 1959

1 Deptford High Street, Deptford, 
London , London SE8 4AD

16 Aug 2005

NA

Current:4
Previous:0
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

 

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Bhardwaj Corporate Services Limited

Previous

47-49 Green Lane, 
Northwood, Middlesex HA6 3AE

16 Aug 2005

24 Aug 2005

 

 

 

 

Individual Secretaries

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Sharmistha Hasmukh 
Patel

Current

08 Aug 1959

1 Deptford High Street, Deptford,
London , London SE8 4AD

16 Aug 2005

NA

Current:4
Previous:0
Disqualifications:0

 

Ashok 
Bhardwaj

Previous

NA

47-49 Green Lane, 
Northwood, Middlesex HA6 3AE

16 Aug 2005

24 Aug 2005

Current:2
Previous:6699
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

Hasmukh Patel

50 Ordinary GBP 1.00

Ordinary

50

1.00

50.00

50.00

Sharmistha Patel

50 Ordinary GBP 1.00

Ordinary

50

1.00

50.00

50.00

 

 

 

 

 

 

 

 

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-Aug-2010

31-Aug-2009

31-Aug-2008

31-Aug-2007

31-Aug-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.640102

0.643147

0.502947

0.510995

0.55775

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)

 

 

 

31-Aug-2010

31-Aug-2009

31-Aug-2008

31-Aug-2007

31-Aug-2006

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.65066

0.613572

0.548261

0.495774

0.525721

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Tangible Fixed Assets

0.0

0.0

0.0

0.0

-

Total Fixed Assets

0.0

0.0

0.0

0.0

-

Total Stocks

0.1

0.2

0.1

0.0

0.0

Trade Debtors

0.1

0.0

0.1

0.0

0.0

Cash and Equivalents

0.0

0.3

0.4

0.8

-

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

0.2

0.5

0.6

0.9

0.0

Total Assets

0.2

0.5

0.6

0.9

0.0

Trade Creditors

0.2

0.4

0.2

0.1

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

Other Bank Loans (Current Liability)

-

-

-

0.9

-

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

0.0

0.2

0.4

0.8

0.0

Total Long Term Loans

0.0

0.0

0.0

0.0

0.0

Other Long Term Liabilities

0.7

0.8

0.9

1.0

0.0

Total Long Term Liabilities

0.7

0.8

0.9

1.0

0.0

Issued Capital

0.0

-

-

-

-

Retained Earnings

-0.7

-0.6

-0.5

-0.2

0.0

Total Reserve

-0.7

-0.6

-0.5

-0.2

0.0

Total Shareholders Funds

-0.7

-0.6

-0.5

-0.2

0.0

Net Worth

-0.7

-0.6

-0.5

-0.2

0.0

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Aug-2010

31-Aug-2009

31-Aug-2008

31-Aug-2007

31-Aug-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.640102

0.643147

0.502947

0.510995

0.55775

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Paid Up Equity

0.0

0.0

0.0

0.0

0.0

 

 

Annual Ratios

 

 

 

 

31-Aug-2010

31-Aug-2009

31-Aug-2008

31-Aug-2007

31-Aug-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

1.07

1.42

3.46

8.60

0.56

Liquidity Ratio

0.34

1.00

2.60

8.38

0.38

Solvency Ratio

-377.82%

-117.28%

-79.63%

-28.44%

-78.48%

Current Debt Ratio

-0.22

-0.59

-0.35

-0.40

-2.27

Long Term Debt Ratio

26.01

4.79

2.11

1.32

0.00

Total Debt Ratio

-1.26

-1.85

-2.26

-4.52

-2.27

Debt Asset Ratio

84.89%

69.09%

28.18%

11.39%

178.48%

Working Finance

23.20%

66.22%

64.43%

83.67%

-

Stock Financing

9.92

1.00

0.35

0.03

-0.40

Fixed Asset Investment

0.09

0.02

0.02

0.02

-

Shareholder Liquidity

-0.96

-0.79

-0.53

-0.24

-

Stock to Total Assets

160.81%

345.96%

411.10%

4,075.05%

315.69%

Financial Strength Ratio

0.38

1.16

4.16

12.86

0.94

Reserve Movement

18.51%

47.06%

112.89%

1,559.95%

-

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.36

UK Pound

1

Rs.85.64

Euro

1

Rs.69.21

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.