MIRA
INFORM REPORT
|
Name :
|
INTL COMMODITIES, INC.
|
|
|
Registered Office :
|
708 Third
Avenue, New York, NY 10017.
|
|
|
|
|
|
|
Country :
|
United Kingdom
|
|
|
|
|
|
|
Financials (as on) :
|
30.09.2010
|
|
|
|
|
|
|
Date of Incorporation :
|
21.11.2006
|
|
|
|
|
|
|
Com. Reg. No.:
|
FC027149
|
|
|
|
|
|
|
Legal Form :
|
Not Available
|
|
|
|
|
|
|
Line of Business :
|
Commodity traders
|
|
|
|
|
|
|
No. of Employees :
|
6
|
|
|
RATING
|
STATUS
|
PROPOSED CREDIT LINE
|
|
26-40
|
B
|
Capability to overcome financial difficulties seems comparatively
below average.
|
Small
|
|
|
|
|
|
Status :
|
Moderate
|
|
Payment Behaviour :
|
Slow
|
|
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 – June 30th, 2012
|
Country Name
|
Previous Rating
(31.03.2011)
|
Current Rating
(30.06.2012)
|
|
United Kingdom
|
A1
|
A1
|
|
Risk Category
|
ECGC
Classification
|
|
Insignificant
|
A1
|
|
Low
|
A2
|
|
Moderate
|
B1
|
|
High
|
B2
|
|
Very High
|
C1
|
|
Restricted
|
C2
|
|
Off-credit
|
D
|
UNITED KINGDOM - ECONOMIC
OVERVIEW
The UK, a leading trading power and financial
center, is the third largest economy in Europe after Germany
and France.
Over the past two decades, the government has greatly reduced public ownership
and contained the growth of social welfare programs. Agriculture is intensive,
highly mechanized, and efficient by European standards, producing about 60% of
food needs with less than 2% of the labor force. The UK
has large coal, natural gas, and oil resources, but its oil and natural gas
reserves are declining and the UK
became a net importer of energy in 2005. Services, particularly banking,
insurance, and business services, account by far for the largest proportion of
GDP while industry continues to decline in importance. After emerging from
recession in 1992, Britain's
economy enjoyed the longest period of expansion on record during which time
growth outpaced most of Western Europe. In
2008, however, the global financial crisis hit the economy particularly hard,
due to the importance of its financial sector. Sharply declining home prices,
high consumer debt, and the global economic slowdown compounded Britain's
economic problems, pushing the economy into recession in the latter half of
2008 and prompting the then BROWN (Labour) government to implement a number of
measures to stimulate the economy and stabilize the financial markets; these
include nationalizing parts of the banking system, temporarily cutting taxes,
suspending public sector borrowing rules, and moving forward public spending on
capital projects. Facing burgeoning public deficits and debt levels, in 2010
the CAMERON-led coalition government (between Conservatives and Liberal
Democrats) initiated a five-year austerity program, which aims to lower
London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In
November 2011, Chancellor of the Exchequer George OSBORNE announced additional
austerity measures through 2017 because of slower-than-expected economic growth
and the impact of the euro-zone debt crisis. The CAMERON government raised the
value added tax from 17.5% to 20% in 2011. It has pledged to reduce the
corporation tax rate to 23% by 2015. The Bank of England (BoE) implemented an
asset purchase program of up to £325 billion (approximately $525 billion) as of
February 2011. During times of economic crisis, the BoE coordinates interest
rate moves with the European Central Bank, but Britain remains outside the
European Economic and Monetary Union (EMU).
Source : CIA
Company Identification Details
Official Company Data
|
Legal Form
|
See Report
|
|
Registration Number
|
FC027149
|
|
Subject Status
|
Trading
|
|
Date of Incorporation
|
21/11/2006
|
|
Registered Office
|
708 THIRD
AVENUE, NEW YORK, NY 10017.
|
|
Accounts
|
The last filed accounts at Companies House are those to 30/09/2010
|
|
Accounting Reference Date
|
30/09
|
Operations
|
Activities
|
Commodity traders
|
|
Nace Code
|
5112
|
|
Premises
|
Leased,Offices
|
|
Staff Employed
|
6
|
|
Bankers
|
BANK OF AMERICA
|
|
Auditors
|
KPMG LLP
|
Previous Searches
|
Last 3 Months
|
Last 6 Months
|
Last 12 Months
|
|
0
|
0
|
0
|
|
Search History Details
|
|
|
|
The Search History Details shows details of the most recent 40
searches
|
|
Date
|
Description
|
|
08/12/2009
|
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
|
5
|
|
Number Outstanding
|
5
|
|
Number Partially Satisfied
|
0
|
|
Number Satisfied
|
0
|
|
|
|
|
Date of Latest Mortgage Created
|
22/09/2010
|
Details of most recent Mortgages, Charges and Satisfactions
|
Date Fully
Satisfied
|
Date
Registered
|
Date
Created
|
Charge
Description
|
Form Type
|
Lender
|
|
|
28/10/2010
|
22/09/2010
|
Deed Of Assignment Executed Outside The United Kingdom Over
Property....
|
MG01
|
Bnp Paribas
|
|
|
28/10/2010
|
22/09/2010
|
Deed Of Assignment Executed Outside The United Kingdom Over
Property....
|
MG01
|
Bnp Paribas
|
|
|
15/07/2008
|
27/06/2008
|
An Assignment Agreement Executed Outside The United Kingdom
Over....
|
395
|
Fortis Caoital Corporation As Security Agent For The Benefit
|
|
|
07/02/2008
|
28/01/2008
|
Tripartite Agreement
|
395
|
Fortis Capital Corp.
|
|
|
04/02/2008
|
17/01/2008
|
Tripartite Agreement Relating To Account Number 10157
|
395
|
Fortis Capital Corp
|
|
It should be noted that there is no legal requirement to file
satisfaction details of mortgages/charges at Companies House.
|
Other Filings and Notices
Company Secretary
|
Secretary
|
NANCEY MCMURTRY
|
|
Service Address
|
4698 HALL
ROAD, ORLANDO, FLORIDA, 32 817.
|
|
Country of Origin
|
UNITED
KINGDOM
|
|
Appointment Date
|
21/11/2006
|
Directors
|
Director
|
SCOTT JULIAN BRANCH
|
|
Service Address
|
39 MEEKER AVENUE, ALLENDALE, NEW JERSEY,
07 401.
|
|
Country of Origin
|
USA
|
|
Date of Birth
|
16/04/1962
|
|
Appointment Date
|
21/11/2006
|
|
Other Directorships
|
INTL FCSTONE SECURITIES INC., INTL CONSILIUM, LLC., INTL
HOLDING (UK)
LIMITED, INTL GLOBAL CURRENCIES LTD
|
|
Director
|
SEAN O'CONNOR
|
|
Service Address
|
8 STONEWALL CIRCLE, WEST HARRISON, NEW YORK, 10 604.
|
|
Country of Origin
|
USA
|
|
Date of Birth
|
20/08/1962
|
|
Appointment Date
|
21/11/2006
|
|
Other Directorships
|
INTL FCSTONE SECURITIES INC., INTL CONSILIUM, LLC., INTL
HOLDING (UK)
LIMITED
|
|
Director
|
BRIAN TRIGGER SEPHTON
|
|
Service Address
|
1373 WINDY RIDGE COURT,
LONGWOOD, FLORIDA,
32 750.
|
|
Country of Origin
|
SOUTH AFRICA
|
|
Date of Birth
|
03/03/1957
|
|
Appointment Date
|
21/11/2006
|
General Information
|
The subject is a Foreign Registered Company with a place of business
within the UK.
It is exempt from filing an annual return to Companies House.
The company is the UK
branch of INTL Commodities INC based in the USA.
|
Financial Data– Statutory Accounts
|
For annual accounts images, view the
|
|
The following figures are shown in units of 1000
|
|
Number of Weeks
|
52
|
|
|
|
|
Accounts Date
|
30/09/2010
|
|
|
|
|
Consolidated
|
Yes
|
|
|
|
|
Currency
|
USD
|
|
|
|
|
SALES
|
46664130
|
|
|
|
|
Cost of goods sold
|
46654440
|
|
|
|
|
GROSS PROFIT
|
9690
|
|
|
|
|
Interest Payable
|
2610
|
|
|
|
|
PRE TAX PROFIT
|
(2967)
|
|
|
|
|
The following figures are shown in units of 1000
|
|
Number of Weeks
|
52
|
|
|
|
|
Accounts Date
|
30/09/2010
|
|
|
|
|
Consolidated
|
Yes
|
|
|
|
|
Currency
|
USD
|
|
|
|
|
TOTAL CURRENT ASSETS
|
224629
|
|
|
|
|
Trade debtors
|
40528
|
|
|
|
|
Stocks
|
125031
|
|
|
|
|
Other Current Assets
|
59070
|
|
|
|
|
Misc Current Assets
|
32556
|
|
|
|
|
Due From Group
|
219
|
|
|
|
|
Cash
|
26295
|
|
|
|
|
TOTAL ASSETS
|
224629
|
|
|
|
|
TOTAL CURRENT LIABILITIES
|
217141
|
|
|
|
|
Trade creditors
|
52950
|
|
|
|
|
Short Term Loans
|
139520
|
|
|
|
|
Other Finance
|
90500
|
|
|
|
|
Due To Group
|
49020
|
|
|
|
|
Other Liabilities
|
24671
|
|
|
|
|
WORKING CAPITAL
|
7488
|
|
|
|
|
NET ASSETS/(LIABILITIES)
|
7488
|
|
|
|
|
SHARE CAPITAL + RESERVES
|
7488
|
|
|
|
|
Share Cap + Sundry Res
|
10000
|
|
|
|
|
Sundry Reserves
|
10000
|
|
|
|
|
Profit and Loss account
|
(2512)
|
|
|
|
|
SHAREHOLDERS FUNDS
|
7488
|
|
|
|
|
CAPITAL EMPLOYED
|
7488
|
|
|
|
|
The following figures are shown in units of 1000
|
|
Number of Weeks
|
52
|
|
|
|
|
Accounts Date
|
30/09/2010
|
|
|
|
|
Consolidated
|
Yes
|
|
|
|
|
Currency
|
USD
|
|
|
|
|
Liquid Assets
|
66823
|
|
|
|
|
Net Working Capital
|
7488
|
|
|
|
|
Tangible Net Worth(T.N.W)
|
7488
|
|
|
|
|
Equity
|
7488
|
|
|
|
|
Number of Years Trading
|
4
|
|
|
|
|
The following figures are shown as Ratios or Percentages
|
|
Accounts Date
|
30/09/2010
|
|
|
|
|
Consolidated
|
Yes
|
|
|
|
|
Current Ratio
|
1
|
|
|
|
|
Quick Ratio
|
0.5
|
|
|
|
|
W.I.P/Inventory Days
|
1
|
|
|
|
|
Return on Investment%
|
(0.2)
|
|
|
|
|
Return on Assets%
|
(1.3)
|
|
|
|
|
T.N.W/Total Assets%
|
3.3
|
|
|
|
|
Return on Capital%
|
(39.6)
|
|
|
|
|
Rtn on Shareholders Funds%
|
(39.6)
|
|
|
|
|
Borrowing Ratio%
|
1863.2
|
|
|
|
|
Equity Gearing%
|
3.4
|
|
|
|
|
Stock Turnover
|
373.2
|
|
|
|
|
Days Purchases Outstanding
|
0.4
|
|
|
|
Key Industry Sector Trends
|
Year
|
2012
|
2011
|
2010
|
2009
|
|
Sample Size
|
2201
|
13603
|
13749
|
13708
|
|
Pre-Tax Profit Margin
|
9
|
6.6
|
6.5
|
6
|
|
Current Ratio
|
1.7
|
1.6
|
1.6
|
1.6
|
|
Borrowing Ratio
|
29.2
|
78.3
|
62.1
|
57.6
|
|
Return on Capital
|
43.8
|
38.3
|
46.6
|
45.5
|
|
Creditors Days
|
68
|
132
|
202
|
192
|
|
Above figures relate to companies in 2003 Standard Industry
Classification (Nace) sector : Wholesale on a fee or contract basis
|
Financial Summary
|
Auditors Qualification
|
|
The Auditors have expressed a clean opinion
(i.e. unqualified with no referrals) on the accounts for the period ended
30/09/2010.
|
|
Only Turnover
|
|
Turnover for the year was
46,664,130,000.
|
|
Profit or Loss
|
|
Pre-tax Loss was GBP 2,967,000.
|
|
Working Capital
|
|
At the end of the period the company had
working capital of USD 7,488,000, current ratio of 1.0 and a quick ratio of
.5.
|
|
Net Worth
|
|
Net worth was USD 7,488,000.
|
|
|
Currency
|
Unit
|
Indian Rupees
|
|
US Dollar
|
1
|
Rs.53.66
|
|
UK Pound
|
1
|
Rs.86.37
|
|
Euro
|
1
|
Rs.69.24
|
|
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.
|
|