MIRA INFORM REPORT

 

 

Report Date :

27.06.2012

 

IDENTIFICATION DETAILS

 

Name :

STEPHANE RATEL ORGANISATION LIMITED

 

 

Registered Office :

Tower Bridge House, St Katharine's Way, London, E1w 1dd.

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

24.01.1995

 

 

Com. Reg. No.:

03013210

 

 

Legal Form :

Private Limited

 

 

Line of Business :

The organization of motor sport events

 

 

No. of Employees :

4

 

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 :

Unknown

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 – 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 Identification Details

 

Subject Reported on

STEPHANE RATEL ORGANISATION LIMITED

Registration Number

03013210

Address

110 OLD BROMPTON ROAD, LONDON, SW7 3RA.

Telephone

020 72592598

 

 

 

 

Official Company Data

 

 

Legal Form

Private Limited

Registration Number

03013210

Subject Status

Trading

Date of Incorporation

24/01/1995

Registered Office

TOWER BRIDGE HOUSE, ST KATHARINE'S WAY, LONDON, E1W 1DD.

History

21/11/2007 : The Registered Office address changed from 3 SHELDON SQUARE, LONDON, W2 6PS, W2 6PS.

 

21/02/2004 : The Registered Office address changed from SCEPTRE HOUSE, 169/173 REGENT STREET, LONDON,.

 

29/01/1999 : The Registered Office address changed from SCEPTRE HOUSE, 169/173 REGENT STREET, LONDON,.

Date of Last Annual Return to Registry

23/01/2012

Accounts

The last filed accounts at Companies House are those to 31/12/2010

Accounting Reference Date

31/12

 

 

 

Operations

 

 

Activities

The organisation of motor sport events.

Nace Code

7487

Staff Employed

4

Auditors

Mazars LLP

Branches

110 OLD BROMPTON RD, LONDON, SW7 3RA.

Associated Companies

International Sportscars Limited

 

 

 

 

 

 

 

Previous Searches

 

 

Search History Summary

 

Last 3 Months

Last 6 Months

Last 12 Months

1

1

2

 

Search History Details

 

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

 

Date

Description

26/04/2012

Miscellaneous

26/09/2011

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

1

Number Outstanding

1

Number Partially Satisfied

0

Number Satisfied

0

 

 

Date of Latest Mortgage Created

12/11/2001

 

 

 

Details of most recent Mortgages, Charges and Satisfactions

 

 

Date Fully
Satisfied

Date
Registered

Date
Created

Charge
Description

Form Type

Lender

 

20/11/2001

12/11/2001

Debenture

395

Barclays Bank Plc

 

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

 

07/02/1995

Companies House Gazette

Change among directors of a company

 

 

 

Directors

 

 

Director

STEPHANE RATEL

Service Address

FLAT 1 6 ONSLOW SQUARE, LONDON, SW7 3NP.

Country of Origin

FRANCE

Date of Birth

23/07/1963

Appointment Date

24/01/1995

Other Directorships

INTERNATIONAL SPORTSCARS LIMITED

 

 

 

Share Capital

 

 

Shares

Ordinary GBP 1.00

Issued Number

1,000

Principal Shareholder

1,000 Stephane Ratel

 

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

 

 

 

 

 

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

31/12/2010

31/12/2009

31/12/2008

31/12/2007

Currency

GBP

GBP

GBP

GBP

SALES

7273

5970

6698

6300

UK sales

1600

1493

1741

1764

Export

5673

4477

4957

4536

Cost of goods sold

6785

5104

5988

4854

GROSS PROFIT

488

866

710

1446

Wages and Salaries

 

 

 

587

Directors Emoluments

254

136

178

275

Auditors Fees

13

9

7

12

Non-Audit Fees

6

 

 

23

Trading Profit

(783)

14

(62)

474

Depreciation

11

2

5

7

OPERATING PROFIT

(794)

12

(67)

467

Non Trading Income

35

 

2

8

Interest Payable

4

5

2

 

PRE TAX PROFIT

(763)

7

(67)

475

Taxation

 

5

(40)

 

PROFIT AFTER TAX

(763)

2

(27)

475

RETAINED PROFITS

(763)

2

(27)

475

 

Balance Sheet

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/12/2010

31/12/2009

31/12/2008

31/12/2007

Currency

GBP

GBP

GBP

GBP

TOTAL FIXED ASSETS

98

122

123

66

Tangible Assets

98

122

123

66

Fixed Assets

20

2

3

5

Intermediate assets

78

120

120

61

TOTAL CURRENT ASSETS

1574

1392

1439

1002

Trade debtors

783

891

1051

812

Other Current Assets

791

501

388

190

Misc Current Assets

620

359

249

135

Due From Group

13

2

44

 

Cash

158

140

95

55

TOTAL ASSETS

1672

1514

1562

1068

TOTAL CURRENT LIABILITIES

2142

1613

1663

1142

Trade creditors

1514

998

1054

885

Short Term Loans

127

422

104

100

Bank Overdraft

 

12

42

100

Due To Group

127

410

62

 

Other Liabilities

501

193

505

157

WORKING CAPITAL

(568)

(221)

(224)

(140)

TOTAL LONG TERM LIABS

392

 

 

 

Long Term Loans

392

 

 

 

Other Finance

392

 

 

 

NET ASSETS/(LIABILITIES)

(862)

(99)

(101)

(74)

SHARE CAPITAL + RESERVES

(862)

(99)

(101)

(74)

Share Cap + Sundry Res

1

1

1

1

Issued Share Capital

1

1

1

1

Profit and Loss account

(863)

(100)

(102)

(75)

SHAREHOLDERS FUNDS

(862)

(99)

(101)

(74)

CAPITAL EMPLOYED

(470)

(99)

(101)

(74)

 

Financial Comparison

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/12/2010

31/12/2009

31/12/2008

31/12/2007

Currency

GBP

GBP

GBP

GBP

Directors Remuneration

254

136

178

275

Auditors Remuneration

13

9

7

12

Liquid Assets

941

1031

1146

867

Net Working Capital

(568)

(221)

(224)

(140)

Long Term Debt(>12 Months)

392

 

 

 

Tangible Net Worth(T.N.W)

(862)

(99)

(101)

(74)

Equity

(862)

(99)

(101)

(74)

Number of Years Trading

15

14

13

12

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

31/12/2010

31/12/2009

31/12/2008

31/12/2007

Current Ratio

0.7

0.9

0.9

0.9

Long Term Debt/T.N.W

(0.5)

 

 

 

Pre Tax Profit Margin%

(10.5)

0.1

(1)

7.5

Gross Profit%

6.7

14.5

10.6

23

Debtors Days (D.S.O)

39

54

57

47

Creditors Days (D.P.O)

76

61

57

51

Quick Ratio

0.7

0.9

0.9

0.9

Return on Investment%

221.3

3.7

(2166.7)

1826.9

Return on Assets%

(45.6)

0.5

(4.3)

44.5

T.N.W/Total Assets%

(51.6)

(6.5)

(6.5)

(6.9)

Return on Capital%

162.3

(7.1)

66.3

(641.9)

Rtn on Shareholders Funds%

 

(7.1)

 

(641.9)

Working Capital/Sales%

(7.8)

(3.7)

(3.3)

(2.2)

Borrowing Ratio%

(60.2)

(426.3)

(103)

(135.1)

Equity Gearing%

(34)

(6.1)

(6.1)

(6.5)

Days Purchases Outstanding

81.4

71.4

64.2

66.5

Sales/Fixed Assets

363.7

2985

2232.7

1260

Debt Gearing

(45.5)

 

 

 

 

 

 

Key Industry Sector Trends

 

 

Year

2012

2011

2010

2009

Sample Size

4551

99999

99999

99999

Pre-Tax Profit Margin

29.4

15.6

12.9

12.6

Current Ratio

1.7

1.7

1.8

1.8

Borrowing Ratio

8.7

69.6

55.7

50.2

Return on Capital

196

54.8

46.7

48.6

Creditors Days

115

355

493

492

 

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Miscellaneous business activities not elsewhere classified

 

 

 

Financial Summary

 

 

Auditors Qualification

The Auditors have either qualified their opinion on the accounts for 31/12/2010 or emphasised a matter of fundamental uncertainty. The qualification/matter specifically relates to the going concern concept which has only been adopted assuming certain parties continue their financial support.

 

Turnover

Turnover increased by 22 % in the period and now totals GBP 7,273,000.

 

Operating Loss

Totalled GBP 794,000. In the year prior a Profit of GBP 12,000 was achieved.

 

Pre Tax Profit

The subject made a loss of GBP 763,000 in the period compared with a profit of GBP 7,000 in the previous period.

 

Working Capital

The company's working capital deficiency increased in the period and now totals GBP 568,000.

 

Net Worth

There was a negative net worth of GBP 862,000.

 

Fixed Assets

The subject's fixed assets reduced during the year by GBP 24,000 to GBP 98,000 and are now 5 % of total assets compared with 8 % in the previous year.

 

Long Term Liabilities

Long term liabilities were GBP 392,000 which are 23 % of total liabilities and -83 % of capital employed.



FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.57.07

UK Pound

1

Rs.88.96

Euro

1

Rs.71.40

 

 

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.