MIRA INFORM REPORT
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Report Date : |
14.03.2012 |
IDENTIFICATION DETAILS
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Name : |
NOUGAT LONDON LTD. |
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Registered Office : |
5Th Floor 19-20 Berners Street, London, W1T 3NW |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
28.04.1999 |
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Com. Reg. No.: |
03761032 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
Clothing and fragrance wholesaler and retailer |
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No. of Employees
: |
38 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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) |
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United Kingdom |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Nougat London Ltd.
5Th Floor 19-20 Berners Street
London, W1T 3NW
United Kingdom
Tel: 020 7323 2222
Synthesis
Employees: 38
Company Type: Private Subsidiary
Corporate Family: 3
Companies
Ultimate Parent: Naughty Holdings Ltd.
Quoted Status: Non-quoted Company
Incorporation Date: 28-Apr-1999
Auditor: Hazlems Fenton LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: British
Pound Sterling
Annual Sales: 7.9
Net Income: 0.1
Total Assets: 3.8
Business Description
Clothing and fragrance wholesaler and retailer.
Industry
Industry Apparel and Accessories
ANZSIC 2006: 371 - Textile,
Clothing and Footwear Wholesaling
NACE 2002: 5142 - Wholesale
of clothing and footwear
NAICS 2002: 4243 - Apparel,
Piece Goods, and Notions Merchant Wholesalers
UK SIC 2003: 5142 - Wholesale
of clothing and footwear
US SIC 1987: 513 - Apparel,
Piece Goods, and Notions
Key Executives
Name Title
Devaraman Seennapen Secretary
Harry Rogers Director
News
Title Date
THREE BEARS CLOTHING
Western Suburbs Weekly (Australia) (102 Words) 7-Feb-2012
Lust Haves : Take a sniff at the season's new scents
Scotland on Sunday (398 Words) 25-Sep-2011
Financial Summary
FYE: 31-Dec-2010 REP (mil)
Key Figures
Current Assets 3.73
Fixed Assets 0.08
Total Liabilities 2.05
Net Worth 1.57
Key Ratios
Current Ratio 1.82
Acid Test 1.67
Registered No.(UK): 03761032
Corporate Overview
Location
5Th Floor 19-20 Berners Street
London, W1T 3NW
London County
United Kingdom
Tel: 020 7323 2222
Sales GBP(mil): 7.9
Assets GBP(mil): 3.8
Employees: 38
Fiscal Year End: 31-Dec-2010
Industry: Apparel
and Accessories
Incorporation Date: 28-Apr-1999
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(UK): 03761032
Director: Harry
Rogers
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
371 - Textile, Clothing and Footwear Wholesaling
NACE 2002 Codes:
5142 - Wholesale of clothing and footwear
NAICS 2002 Codes:
4243 - Apparel, Piece Goods, and Notions Merchant Wholesalers
US SIC 1987:
513 - Apparel, Piece Goods, and Notions
UK SIC 2003:
5142 - Wholesale of clothing and footwear
Business
Description
Clothing and fragrance wholesaler and retailer.
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Corporate Family |
Corporate
Structure News: |
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Nougat London Ltd. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Naughty Holdings Ltd. |
Parent |
London |
United Kingdom |
Commercial Banks |
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20 |
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Nougat London Ltd. |
Subsidiary |
London |
United Kingdom |
Apparel and Accessories |
7.9 |
38 |
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Naughty Clothing Co. Ltd. |
Subsidiary |
London |
United Kingdom |
Apparel and Accessories |
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36 |
Executive
report
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Board
of Directors |
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Director |
Director/Board Member |
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Executives |
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Secretary |
Company Secretary |
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Directors and Shareholders Report
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Main Office Address: |
Tel: 020
7323 2222 |
Annual Return Date: 28 Apr 2011 |
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Harry |
Current |
10 May 1953 |
2 Salisbury Avenue, Finchley, |
04 May 1999 |
NA |
Current:3 |
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Reginald Algernon |
Previous |
10 Aug 1943 |
6 Coombes Close, |
20 May 1999 |
28 Aug 2002 |
Current:0 |
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Michael Gary |
Previous |
31 Jan 1952 |
2 Stockton Gardens, Mill Hill, |
20 May 1999 |
31 Aug 2002 |
Current:1 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Company Directors Limited |
Previous |
2 Woodberry Grove, North Finchley, |
28 Apr 1999 |
04 May 1999 |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Devaraman |
Current |
12 May 1968 |
8 Northwood Gardens, |
28 Aug 2002 |
NA |
Current:4 |
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Reginald Algernon |
Previous |
10 Aug 1943 |
6 Coombes Close, |
04 May 1999 |
28 Aug 2002 |
Current:0 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Temple Secretaries Limited |
Previous |
788-790 Finchley Road, |
28 Apr 1999 |
04 May 1999 |
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Individual Shareholders |
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There are no individual shareholders for this company. |
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Corporate Shareholders |
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Company Name |
Registration Number |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
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Naughty Holdings Ltd |
02956665 |
2 Ordinary GBP 1.00 |
Ordinary |
2 |
1.00 |
2.00 |
100.00 |
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Annual Profit & Loss
Financials in: REP (mil)
Except for share items (millions) and per share items
(actual units)
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate (Period
Average) |
1 |
1 |
1 |
1 |
1 |
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Consolidated |
No |
No |
No |
No |
No |
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Turnover (UK) |
7.9 |
7.8 |
- |
- |
- |
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Turnover (Exports) |
0.0 |
0.0 |
- |
- |
- |
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Total Turnover |
7.9 |
7.8 |
- |
- |
- |
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Cost of Sales |
4.2 |
4.3 |
- |
- |
- |
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Gross Profit |
3.7 |
3.5 |
4.6 |
5.4 |
- |
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Depreciation |
0.0 |
0.1 |
0.1 |
0.0 |
0.0 |
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Other Expenses |
3.4 |
3.2 |
4.4 |
5.0 |
- |
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Operating Profit |
- |
- |
0.3 |
0.4 |
- |
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Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Interest Paid |
0.2 |
0.1 |
0.2 |
0.3 |
- |
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Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Profit Before Taxes |
0.1 |
0.1 |
0.1 |
0.2 |
- |
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Tax Payable / Credit |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Dividends |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Profit After Taxes |
0.1 |
0.1 |
0.1 |
0.1 |
- |
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Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Number of Employees |
38 |
38 |
44 |
43 |
- |
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Wages |
1.4 |
1.5 |
2.0 |
2.0 |
- |
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Social Security Costs |
0.2 |
0.2 |
0.2 |
0.3 |
- |
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Pensions |
- |
0.0 |
0.1 |
0.1 |
- |
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Other Pension Costs |
0.0 |
0.0 |
0.1 |
0.1 |
- |
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Employees Remuneration |
1.6 |
1.7 |
2.3 |
2.3 |
- |
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Directors Emoluments |
- |
0.2 |
0.2 |
0.4 |
- |
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Other Costs |
- |
0.0 |
0.0 |
0.0 |
- |
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Directors Remuneration |
0.2 |
0.2 |
0.2 |
0.5 |
- |
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Highest Paid Director |
0.2 |
0.2 |
0.2 |
0.5 |
- |
Annual Balance Sheet
Financials in: GBP (mil)
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
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Consolidated |
No |
No |
No |
No |
No |
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Land & Buildings |
0.0 |
0.0 |
0.1 |
0.0 |
- |
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Fixtures & Fittings |
0.0 |
0.1 |
0.1 |
0.1 |
- |
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Plant & Vehicles |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Total Tangible Fixed Assets |
0.0 |
0.1 |
0.2 |
0.1 |
0.1 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
0.1 |
0.1 |
0.2 |
0.1 |
0.2 |
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Stocks |
0.3 |
0.3 |
0.7 |
0.6 |
- |
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Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Total Stocks Work In Progress |
0.3 |
0.3 |
0.7 |
0.6 |
0.5 |
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Trade Debtors |
0.7 |
0.6 |
0.6 |
1.1 |
- |
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Inter-Company Debtors |
2.6 |
2.5 |
1.7 |
0.7 |
- |
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Director Loans |
- |
- |
0.0 |
- |
- |
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Other Debtors |
0.1 |
0.1 |
0.1 |
0.1 |
- |
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Total Debtors |
3.4 |
3.2 |
2.4 |
1.9 |
1.9 |
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Cash and Equivalents |
0.1 |
1.9 |
0.6 |
1.8 |
2.0 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
3.7 |
5.4 |
3.7 |
4.3 |
4.4 |
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Total Assets |
3.8 |
5.5 |
3.9 |
4.4 |
4.6 |
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Trade Creditors |
0.4 |
0.3 |
0.5 |
0.3 |
- |
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Bank Overdraft |
1.2 |
3.1 |
1.3 |
1.6 |
- |
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Inter-Company Creditors |
- |
- |
- |
0.0 |
- |
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Director Loans (Current Liability) |
- |
- |
- |
0.0 |
- |
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Hire Purchase (Current Liability) |
- |
- |
- |
0.0 |
- |
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Finance Lease (Current Liability) |
- |
- |
- |
0.0 |
- |
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Total Finance Lease/Hire Purchase (Current Liability) |
- |
- |
- |
0.0 |
- |
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Total Short Term Loans |
- |
- |
- |
0.0 |
- |
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Accruals/Deferred Income (Current Liability) |
0.3 |
0.4 |
0.5 |
0.9 |
- |
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Social Security/VAT |
0.1 |
0.1 |
0.1 |
0.2 |
- |
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Corporation Tax |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Dividends (Current Liability) |
- |
- |
- |
0.0 |
- |
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Other Current Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
3.4 |
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Total Current Liabilities |
2.1 |
4.0 |
2.4 |
3.1 |
3.4 |
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Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Other Provisions |
0.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issued Capital |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Retained Earnings |
1.6 |
1.5 |
1.4 |
1.3 |
1.2 |
|
Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Shareholders Funds |
1.6 |
1.5 |
1.4 |
1.3 |
1.2 |
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Net Worth |
1.6 |
1.5 |
1.4 |
1.3 |
1.1 |
Annual Cash Flows
Financials in: GBP (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period
Average) |
1 |
1 |
1 |
1 |
1 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
0.2 |
-0.3 |
-0.5 |
-0.1 |
- |
|
Net Cash Flow from ROI and Servicing of Finance |
-0.2 |
-0.1 |
-0.1 |
-0.2 |
- |
|
Taxation |
0.0 |
0.0 |
-0.1 |
0.0 |
- |
|
Capital Expenditures |
0.0 |
0.0 |
-0.1 |
0.0 |
- |
|
Acquisitions and Disposals |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Paid Up Equity |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Management of Liquid Resources |
0.0 |
-1.5 |
1.5 |
0.0 |
- |
|
Net Cash Flow From Financing |
0.5 |
0.0 |
0.0 |
-1.5 |
- |
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Increase in Cash |
0.6 |
-2.0 |
0.6 |
-1.8 |
- |
Annual Ratios
Financials in: GBP (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Consolidated |
No |
No |
No |
No |
No |
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|
|
|
|
|
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Current Ratio |
1.82 |
1.36 |
1.52 |
1.39 |
1.30 |
|
Liquidity Ratio |
1.67 |
1.29 |
1.23 |
1.20 |
1.15 |
|
Stock Turnover |
26.65 |
31.08 |
- |
- |
- |
|
Credit Period (Days) |
32.24 |
27.49 |
- |
- |
- |
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Working Capital by Sales |
21.28% |
18.22% |
- |
- |
- |
|
Trade Credit by Debtors |
0.62 |
0.51 |
0.94 |
0.30 |
- |
|
Return on Capital |
6.77% |
7.69% |
9.21% |
13.72% |
- |
|
Return on Assets |
3.12% |
2.13% |
3.44% |
4.10% |
- |
|
Profit Margin |
1.51% |
1.50% |
- |
- |
- |
|
Return on Shareholders Funds |
7.46% |
7.81% |
9.39% |
13.95% |
- |
|
Borrowing Ratio |
77.14% |
212.10% |
91.36% |
125.88% |
- |
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Equity Gearing |
41.87% |
27.23% |
36.68% |
29.36% |
25.51% |
|
Interest Coverage |
0.75 |
0.92 |
0.81 |
0.69 |
- |
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Sales by Tangible Assets |
173.81 |
120.89 |
- |
- |
- |
|
Average Remuneration per Employee |
0.0 |
0.0 |
0.1 |
0.1 |
- |
|
Profit per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Sales per Employee |
0.2 |
0.2 |
- |
- |
- |
|
Capital Employed per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Tangible Assets per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Total Assets per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
- |
|
Employee Remuneration by Sales |
20.46% |
21.51% |
- |
- |
- |
|
Creditor Days (Cost of Sales Based) |
37.41 |
25.20 |
- |
- |
- |
|
Creditor Days (Sales Based) |
19.97 |
13.91 |
- |
- |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.85 |
|
UK Pound |
1 |
Rs.77.97 |
|
Euro |
1 |
Rs.65.62 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.