MIRA INFORM REPORT

 

 

Report Date :           

12.03.2012

 

IDENTIFICATION DETAILS

 

Name :

SONA AUTOMOTIVE LTD.

 

 

Registered Office :

Lynwood House, 373-375 Station Road, Harrow, HA1 2AW

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

26.03.1982

 

 

Com. Reg. No.:

01625156

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Import, export and wholesaling of truck and motor spares

 

 

No. of Employees :

03

 

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 :

Small Company 

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

 

Company name & address  

 

Sona Automotive Ltd.

Unit 7

255 Water Road

Wembley, HA0 1HX

United Kingdom

Tel:       020 8997 5725

Fax:      020 8991 2690

Web:    www.sonaauto.com

 

 

synthesis

 

Employees:                  3

Company Type:            Private Independent

Quoted Status:              Non-quoted Company

Incorporation Date:         26-Mar-1982    

Financials in:                 USD (Millions)

Fiscal Year End:            31-Mar-2011

Reporting Currency:       British Pound Sterling

Annual Sales:               NA

Total Assets:                0.3

 

 

Business Description     

 

Import, export and wholesaling of truck and motor spares.

 

Industry             

Industry            Retail (Specialty)

ANZSIC 2006:    3921 - Motor Vehicle Parts Retailing

NACE 2002:      5030 - Sale of motor vehicle parts and accessories

NAICS 2002:     441310 - Automotive Parts and Accessories Stores

UK SIC 2003:    5030 - Sale of motor vehicle parts and accessories

US SIC 1987:    5531 - Auto and Home Supply Stores

 

           

Key Executives   

 

Name

Title

Avtar Hoonjan

Managing Director

Sokhi

Finance Director

Raminder Kaur Hoonjan

Secretary

 

 

Financial Summary    

 

FYE: 31-Mar-2011          USD (mil)

Key Figures    

Current Assets              0.31

Fixed Assets                 0.0021

Total Liabilities               0.0000

Net Worth                     -0.03

 

Key Ratios

Current Ratio                 1.32

Liquidity Ratio                0.48

Source: RM Online

 

Registered No.(UK): 01625156

 

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

Unit 7

255 Water Road

Wembley, HA0 1HX

Middlesex County

United Kingdom

Tel:       020 8997 5725

Fax:      020 8991 2690

Web:    www.sonaauto.com

           

Sales GBP(mil):             NA

Assets GBP(mil):           0.2

Employees:                   3

Fiscal Year End:            31-Mar-2011

Industry:                        Retail (Specialty)

           

Registered Address:

Lynwood House

373-375 Station Road

Harrow, HA1 2AW

United Kingdom

 

Incorporation Date:         26-Mar-1982

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(UK):       01625156

Managing Director:         Avtar Hoonjan

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

3921     -          Motor Vehicle Parts Retailing

 

NACE 2002 Codes:

5030     -          Sale of motor vehicle parts and accessories

 

NAICS 2002 Codes:

441310  -          Automotive Parts and Accessories Stores

 

US SIC 1987:

5531     -          Auto and Home Supply Stores

 

UK SIC 2003:

5030     -          Sale of motor vehicle parts and accessories

 

Business Description

Import, export and wholesaling of truck and motor spares.

 

More Business Descriptions

Motor Factors

 

Financial Data

Financials in:

GBP(mil)

 

Assets:

0.2

Current Assets:

0.2

 

Fixed Assets:

0.0

 

Long Term Debt:

0.0

 

Issued Capital:

0.0

 

Working Capital:

0.0

 

Net Worth:

0.0

 

 

 

Date of Financial Data:

31-Mar-2011

 

1 Year Growth

NA

 

Key Corporate Relationships

Bank:

The Royal Bank Of Scotland Plc

 

 

 

 

GBP(mil)

Audit Fees:

0.0

Audit Fiscal Year:

03-31-2011

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Raminder Kaur Hoonjan

 

Secretary

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Avtar Hoonjan

 

Managing Director

Managing Director

 

Sokhi

 

Finance Director

Finance Executive

 

 

 

Directors and Shareholders Report

 

Main Office Address:
Unit 7
255 Water Road
Wembley
United Kingdom HA0 1HX

Tel: 020 8997 5725
Fax: 020 8991 2690
URL:http://www.sonaauto.com

Annual Return Date: 31 Mar 2011

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Avtar Singh 
Hoonjan

Current

17 Jan 1932

28 The Highlands, 
Edgware, Middlesex HA8 5HL

31 Mar 1992

NA

Current:2
Previous:0
Disqualifications:0

 

Raminder Kaur 
Hoonjan

Current

25 Dec 1934

28 The Highlands, 
Edgware, Middlesex HA8 5HL

31 Mar 1992

NA

Current:1
Previous:0
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

 

Avtar Singh 
Hoonjan

Current

17 Jan 1932

28 The Highlands, 
Edgware, Middlesex HA8 5HL

31 Mar 1992

NA

Current:2
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

A S Hoonjan

1 Ordinary GBP 1.00

Ordinary

1

1.00

1.00

50.00

R K Hoonjan

1 Ordinary GBP 1.00

Ordinary

1

1.00

1.00

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-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.643394

0.627794

0.592803

0.498361

0.528925

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-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.62385

0.659239

0.697666

0.503145

0.509853

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Tangible Fixed Assets

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

0.0

0.0

0.0

0.0

0.0

Total Stocks

0.2

0.2

0.1

0.2

0.3

Trade Debtors

0.1

0.1

0.1

0.1

0.3

Cash and Equivalents

0.0

0.0

0.0

0.0

0.0

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

0.3

0.3

0.2

0.3

0.6

Total Assets

0.3

0.3

0.2

0.4

0.6

Trade Creditors

0.2

0.3

0.2

0.3

0.4

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

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

0.1

0.1

0.0

0.1

0.2

Total Long Term Loans

0.0

0.0

0.0

0.0

0.0

Other Long Term Liabilities

0.1

0.1

0.0

0.0

0.0

Total Long Term Liabilities

0.1

0.1

0.0

0.0

0.0

Issued Capital

0.0

-

-

-

-

Retained Earnings

0.0

0.0

0.0

0.1

0.2

Total Reserve

0.0

0.0

0.0

0.1

0.2

Total Shareholders Funds

0.0

0.0

0.0

0.1

0.2

Net Worth

0.0

0.0

0.0

0.1

0.2

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.643394

0.627794

0.592803

0.498361

0.528925

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Paid Up Equity

0.0

0.0

0.0

0.0

0.0

 

 

Annual Ratios

 

 

 

 

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

-

-

-

-

-

Exchange Rate

-

-

-

-

-

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

1.32

1.18

1.21

1.21

1.44

Liquidity Ratio

0.48

0.49

0.56

0.40

0.77

Solvency Ratio

-8.72%

-12.69%

17.81%

18.00%

30.90%

Current Debt Ratio

-8.64

-6.64

4.61

4.56

2.24

Long Term Debt Ratio

1.35

1.81

0.00

0.00

0.00

Total Debt Ratio

-12.46

-8.88

4.61

4.56

2.24

Debt Asset Ratio

75.39%

84.30%

82.19%

82.00%

69.10%

Working Finance

297.92%

350.61%

-

-

-

Stock Financing

2.64

3.80

3.06

3.84

1.52

Fixed Asset Investment

0.01

0.00

0.00

0.01

0.00

Shareholder Liquidity

-0.26

-0.45

-

-

-

Stock to Total Assets

158.04%

172.72%

188.07%

149.46%

215.67%

Financial Strength Ratio

-2.03

-0.56

1.78

1.61

2.21

Reserve Movement

-41.44%

-196.49%

-5.26%

-65.87%

-4.38%

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.02

UK Pound

1

Rs.79.00

Euro

1

Rs.66.18

 

 

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.