MIRA INFORM REPORT

 

 

Report Date :           

05.03.2012

 

IDENTIFICATION DETAILS

 

Name :

JG BELTS LIMITED 

 

 

Formerly Known As :

JG BELTS (2003) LIMITED

 

 

Registered Office :

Unit 33 Trafal Business Centre, 79 River Road, Barking Ig11 0ju

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

01.04.2003

 

 

Com. Reg. No.:

04718717

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Manufacturing belts

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

£10,500

 

 

Status :

Moderate

 

 

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 30th, 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

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Name

JG BELTS LIMITED

Company Number

04718717

 

 

 

 

Registered Address

UNIT 33 TRAFAL BUSINESS CENTRE

Trading Address

Unit 2-4 Vanguard Trading Estate
16 Marshgate Lane
London
E15 2NH

 

79 RIVER ROAD

 

 

BARKING

 

 

IG11 0JU

 

 

 

 

 

 

Website Address

http://www.jgbelts.co.uk

 

 

Telephone Number

02085072929

Fax Number

 

TPS

No

FPS

No

Incorporation Date

01/04/2003

Company Status

Active - Accounts Filed

Previous Name

JG BELTS (2003) LIMITED

Type

Private limited with Share Capital

Date of Change

10/04/2003

Filing Date of Accounts

07/10/2011

 

 

Share Capital

£100

SIC03

7487

Currency

GBP

SIC03 Description

OTHER BUSINESS ACTIVITIES

SIC07

82990

SIC07 Description

OTHER BUSINESS SUPPORT SERVICE ACTIVITIES N.E.C.

Principal Activity

Manufacturing belts.

 

 

CREDIT RECOMENDATION

 

Current Credit Limit: £10,500

 

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

4

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

2

 

Current Directors

Name

Kamaljeet Singh Johal

Date of Birth

14/10/1978

Officers Title

 

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

07/09/2007

 

 

Address

5 Glenside,  ,  Chigwell,  IG7 5RE

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Baljeet Singh Johal

Date of Birth

20/03/1977

Officers Title

 

Nationality

British

Present Appointments

3

Function

Director

Appointment Date

01/04/2003

 

 

Address

11 Martham Close,  ,  Hainault,  IG6 2GL

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Kulbir Singh Johal

Date of Birth

02/01/1950

Officers Title

 

Nationality

British

Present Appointments

8

Function

Director

Appointment Date

01/04/2003

 

 

Address

5 Glenside,  ,  Chigwell,  IG7 5RE

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Surbjeet Singh Johal

Date of Birth

14/11/1972

Officers Title

 

Nationality

British

Present Appointments

9

Function

Director

Appointment Date

01/04/2003

 

 

Address

5 Glenside,  ,  Chigwell,  IG7 5RE

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

Name

Kamaljeet Singh Johal

Date of Birth

14/10/1978

Officers Title

 

Nationality

British

Present Appointments

2

Function

Company Secretary

Appointment Date

01/04/2003

 

 

Address

5 Glenside,  ,  Chigwell,  IG7 5RE

 

 

NEGATIVE INFORMATION

 

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade Debtors / Bad Debt -

2

 

Total Value of Documented Trade Debtors / Bad Debt -

£6,648

 

 

CCJ

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

Total Number of Writs -

0

 

 

 

Exact CCJ Details

There are no exact CCJ details

 

Possible CCJ Details

There are no possible CCJ details

 

Writ Details

There are no writ details

 

Exact CCJ Details

No CCJs found

 

Possible CCJs Details

There are no possible CCJ details

 

Writ Details

No writs found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Individual Share Value

KULBIR SINGH JOHAL

40 ORDINARY GBP 1.00

KAMALJEET SINGH JOHAL

20 ORDINARY GBP 1.00

SURBJEET SINGH JOHAL

20 ORDINARY GBP 1.00

BALJEET SINGH JOHAL

20 ORDINARY GBP 1.00

 

 

PAYMENT INFORMATION

 

Payment Information Summary

Total number of Invoices available

49

Total number of Invoices paid within or up to 30 days after the due date

31

Total number of Invoices paid more than 30 days after the due date

12

Total number of Invoices currently outstanding where the due date has not yet been reached

0

Total number of Invoices currently outstanding beyond the due date

6

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Group

-

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

 

Group structure

No group structure

 

 

FINANCIAL INFORMATION

 

Key Financials

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/03/2011

-

-

£2,243

-

31/03/2010

-

-

-£21,124

-

31/03/2009

-

-

£9,362

-

 

Profit & Loss

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

31/03/09

(%)

31/03/08

(%)

31/03/07

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

-

-

-

-

-

-

-

-

£1,712,681

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

£1,139,128

Gross Profit

-

-

-

-

-

-

-

-

£573,553

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

£54,012

Operating Profit

-

-

-

-

-

-

-

-

£142,741

Depreciation

£12,704

-16.6%

£15,227

8.6%

£14,016

-34.9%

£21,538

-1.8%

£21,923

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

£21,617

Pre Tax Profit

-

-

-

-

-

-

-

-

£121,201

Taxation

-

-

-

-

-

-

-

-

-£20,747

Profit After Tax

-

-

-

-

-

-

-

-

£100,454

Dividends Payable

-

-

-

-

-

-

-

-

£45,000

Retained Profit

-

-

-

-

-

-

-

-

£55,454

 

Balance Sheet

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

31/03/09

(%)

31/03/08

(%)

31/03/07

Tangible Assets

£309,530

-3.9%

£322,234

0.7%

£320,034

-4.2%

£334,050

-1.1%

£337,930

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£309,530

-3.9%

£322,234

0.7%

£320,034

-4.2%

£334,050

-1.1%

£337,930

Stock

£136,000

20.4%

£113,000

2.7%

£110,000

4.2%

£105,550

7.2%

£98,463

Trade Debtors

£466,589

40.3%

£332,585

-14.4%

£388,752

-10.2%

£433,027

11.2%

£389,378

Cash

£3,402

47.9%

£2,300

159.9%

£885

-

0

-100%

£18,630

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£605,991

35.3%

£447,885

-10.4%

£499,637

-7.2%

£538,577

6.3%

£506,471

Trade Creditors

£467,633

4.7%

£446,823

2.1%

£437,619

-23.2%

£570,157

159.7%

£219,543

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-100%

£45,727

Other Short Term Finance

0

-

0

-

0

-

0

-100%

£118,463

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-100%

£80,149

Total Current Liabilities

£467,633

4.7%

£446,823

2.1%

£437,619

-23.2%

£570,157

22.9%

£463,882

Bank Loans & Overdrafts and LTL

£445,645

29.4%

£344,420

-7.6%

£372,690

46%

£255,307

-24.3%

£337,424

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

£445,645

29.4%

£344,420

-7.6%

£372,690

46%

£255,307

-12.5%

£291,697

 

Capital & Reserves

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

31/03/09

(%)

31/03/08

(%)

31/03/07

Called Up Share Capital

£100

-

£100

-

£100

-

£100

-

£100

P & L Account Reserve

£2,143

110.1%

-£21,224

-329.2%

£9,262

-80.3%

£47,063

-47%

£88,722

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£2,243

110.6%

-£21,124

-325.6%

£9,362

-80.1%

£47,163

-46.9%

£88,822

 

Other Financial Items

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

31/03/09

(%)

31/03/08

(%)

31/03/07

Net Worth

£2,243

110.6%

-£21,124

-325.6%

£9,362

-80.1%

£47,163

-46.9%

£88,822

Working Capital

£138,358

999.9%

£1,062

-98.3%

£62,018

296.4%

-£31,580

-174.2%

£42,589

Total Assets

£915,521

18.9%

£770,119

-6%

£819,671

-6.1%

£872,627

3.3%

£844,401

Total Liabilities

£913,278

15.4%

£791,243

-2.4%

£810,309

-1.8%

£825,464

9.2%

£755,579

Net Assets

£2,243

110.6%

-£21,124

-325.6%

£9,362

-80.1%

£47,163

-46.9%

£88,822

 

Miscellaneous

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

31/03/09

(%)

31/03/08

(%)

31/03/07

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£447,888

38.5%

£323,296

-15.4%

£382,052

26.3%

£302,470

-20.5%

£380,519

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

 

Auditor Comments

The company is exempt from audit

Bankers

BANK OF SCOTLAND

Bank Branch Code

 

Ratios

Date Of Accounts

31/03/11

31/03/10

31/03/09

31/03/08

31/03/07

Pre-tax profit margin %

-

-

-

-

7.08

Current ratio

1.30

1

1.14

0.94

1.09

Sales/Net Working Capital

-

-

-

-

40.21

Gearing %

19868.30

-1630.50

3980.90

541.30

379.90

Equity in %

0.20

-2.70

1.10

5.40

10.50

Creditor Days

-

-

-

-

46.66

Debtor Days

-

-

-

-

82.76

Liquidity/Acid Test

1

0.74

0.89

0.75

0.88

Return On Capital Employed %

-

-

-

-

31.85

Return On Total Assets Employed %

-

-

-

-

14.35

Current Debt Ratio

208.48

-21.15

46.74

12.08

5.22

Total Debt Ratio

407.16

-37.45

86.55

17.50

8.50

Stock Turnover Ratio %

-

-

-

-

5.75

Return on Net Assets Employed %

-

-

-

-

136.45

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

Status History

No Status History found

Event History

Date

Description

 

12/10/2011

New Accounts Filed

 

12/10/2011

New Accounts Filed

 

07/04/2011

Annual Returns

 

05/01/2011

New Accounts Filed

 

24/04/2010

Annual Returns

 

10/11/2009

New Accounts Filed

 

10/11/2009

New Accounts Filed

 

28/04/2009

Annual Returns

 

18/09/2008

New Accounts Filed

 

22/07/2008

Annual Returns

 

23/11/2007

New Accounts Filed

 

09/11/2007

New Board Member (KAMALJEET JOHAL) appointed

 

29/10/2007

New Accounts Filed

 

30/05/2007

Change in Reg.Office

 

30/05/2007

Change of Company Postcode

 

 

Mortgage Details

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

30/11/07

 

 

Date Charge Registered:

06/12/07

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

NATIONAL WESTMINSTER BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

UNIT 33,77-87 TRAFALGAR BUSINESS CENTRE,RIVER RD,BARKING IG11 0JU BY WAY OF FIXED CHARGE THE BENEFITOF ALL COVENANTS AND RIGHTS CONCERNING THE PROPERTY AND PLANT MACHINERY FIXTURES FITTINGS FURNITUREEQUIPMENT IMPLEMENTS AND UTENSILS THE GOODWILL OF ANY BUSINESS CARRIED ON AT THE PROPERTY AND THE PROCEEDS OF ANY INSURANCE AFFECTING THE PROPERTY OR ASSETS

 

Mortgage Type:

FIXED AND FLOATING CHARGE

Date Charge Created:

20/10/07

 

 

Date Charge Registered:

24/10/07

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

RBS INVOICE FINANCE LIMITED

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

Mortgage Type:

DEBENTURE

Date Charge Created:

01/10/07

 

 

Date Charge Registered:

13/10/07

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

NATIONAL WESTMINSTER BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL UNCALLED CAPITAL BUILDINGS FIXTURES PLANT ANDMACHINERY

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

20/10/05

 

 

Date Charge Registered:

21/10/05

 

 

Date Charge Satisfied:

25/10/07

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE

Details:

33 TRAFALGAR BUSINESS CENTRE RIVER ROADBARKING, FIXED CHARGE ALL BUILDINGS AND OTHER STRUCTURES FIXED TO THE PROPERTY FIXED CHARGE ANY GOODWILL RELATING TO THE PROPERTY FIXED CHARGE ALL PLANT MACHINERY AND OTHER ITEMS AFFIXED TO THE PROPERTY ASSIGNMENT OF THE RENTAL SUMS TOGETHER WITH THE BENEFIT OFALL RIGHTS AND REMEDIES FIXED CHARGE THE PROCEEDS OF ANY CLAIM MADE UNDER INSURANCE POLICY RELATINGTO THE PROPERTY FLOATING CHARGE ALL UNATTACHED PLANT MACHINERY CHATTELS AND GOODS ON OR IN OR USEDIN CONNECTION WITH THE PROPERTY OR THE BUSINESS OR UNDERTAKING AT THE PROPERTY

 

Mortgage Type:

DEBENTURE

Date Charge Created:

02/09/04

 

 

Date Charge Registered:

07/09/04

 

 

Date Charge Satisfied:

31/10/07

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

Creditor Details

No Creditor Data

 

Total Value

-

 

Trade Debtors / Bad Debt Detail

Company Name

Amount

Statement Date

Chicago Clothing Limited

£5,251

26/11/2009

Grandvista Limited

£1,397

12/04/2010

 

Total Value

£6,648

 

 

NOTES & COMMENTS

 

Na

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.35

UK Pound

1

Rs.78.68

Euro

1

Rs.65.63

 

 

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.