MIRA
INFORM REPORT
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Name :
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BYCITY LIVING
LIMITED
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Registered Office :
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85 Brunner
Road, Walthamstow, London, E17 7NW.
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Country :
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United Kingdom
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Financials (as on) :
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31.03.2011
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Date of Incorporation :
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13.02.2004
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Com. Reg. No.:
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05043715
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Legal Form :
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Private Limited
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Line of Business :
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Suppliers of leather goods.
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No. of Employees :
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15
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RATING
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STATUS
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PROPOSED CREDIT LINE
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26-40
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B
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Capability to overcome financial difficulties seems comparatively
below average.
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Small
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Status :
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Moderate
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Payment Behaviour :
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No Complaints
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Litigation :
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Clear
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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
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Country Name
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Previous Rating
(31.03.2011)
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Current Rating
(30.06.2012)
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United Kingdom
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A1
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A1
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Risk Category
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ECGC
Classification
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Insignificant
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A1
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Low
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A2
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Moderate
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B1
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High
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B2
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Very High
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C1
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Restricted
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C2
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Off-credit
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D
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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
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Legal Form
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Private Limited
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Registration Number
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05043715
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Subject Status
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Trading
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Date of Incorporation
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13/02/2004
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Registered Office
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85 BRUNNER
ROAD, WALTHAMSTOW, LONDON, E17 7NW.
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Date of Last Annual Return to Registry
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13/02/2012
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Accounts
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The last filed accounts at Companies House are those to 31/03/2011
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Accounting Reference Date
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31/03
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Operations
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Activities
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Suppliers of leather goods.
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Nace Code
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7487
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Premises
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Rented,Offices,Warehouse
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Staff Employed
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15
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Import Countries
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CHINA, INDIA
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Export Countries
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No Export Activity
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Bankers
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BARCLAYS BANK PLC
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Address
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WALTHAMSTOW 3.
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Sort Code
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209026
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Auditors
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LB Group
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Previous Searches
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Last 3 Months
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Last 6 Months
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Last 12 Months
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0
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0
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0
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Search History Details
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The Search History Details shows details of the most recent 40
searches
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Date
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Description
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06/04/2011
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Miscellaneous
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Public Record Information
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Summary of CCJ's/Scottish Decrees
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No CCJs/Scottish Decrees are recorded in
our file.
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Summary of Mortgages, Charges and Satisfactions
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Total Number of Mortgages/Charges Registered
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4
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Number Outstanding
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4
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Number Partially Satisfied
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0
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Number Satisfied
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0
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Date of Latest Mortgage Created
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30/04/2010
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Details of most recent Mortgages, Charges and Satisfactions
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Date Fully
Satisfied
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Date
Registered
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Date
Created
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Charge
Description
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Form Type
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Lender
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06/05/2010
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30/04/2010
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Legal Mortgage
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MG01
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Hsbc Bank Plc
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07/08/2008
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05/08/2008
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Floating Charge (All Assets)
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395
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Hsbc Invoice Finance (Uk) Ltd
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07/08/2008
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05/08/2008
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Fixed Charge On Purchased Debts Which Fail To Vest
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395
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Hsbc Invoice Finance (Uk) Ltd
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09/07/2005
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21/06/2005
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Debenture
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395
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Hsbc Bank Plc
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It should be noted that there is no legal requirement to file satisfaction
details of mortgages/charges at Companies House.
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Other Filings and Notices
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16/03/2012
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Companies House Gazette
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Notification of any change among the company's directors
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31/01/2012
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Companies House Gazette
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All documents required to be delivered to the registrar under
section 441 (annual accounts and reports)
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28/11/2007
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Companies House Gazette
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Change among directors of a company
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Company Secretary
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Secretary
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MR ZAHED MAHROOF
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Service Address
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44 HERONGATE
ROAD, WANSTEAD, LONDON, E12 5EG.
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Country of Origin
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UNITED
KINGDOM
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Date of Birth
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16/10/1974
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Appointment Date
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13/02/2004
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Other Directorships
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BYCITY LIMITED, BYCITY INVESTMENTS LIMITED, BYCITY
HOLDINGS LIMITED, BYCITY DEVELOPMENTS LIMITED, BYCITY ACCESSORIES
LIMITED
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Directors
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Director
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MR ZAHED MAHROOF
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Service Address
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44 HERONGATE
ROAD, WANSTEAD, LONDON, E12 5EG.
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Country of Origin
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UNITED
KINGDOM
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Date of Birth
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16/10/1974
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Appointment Date
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13/02/2004
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Other Directorships
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BYCITY LIMITED, BYCITY INVESTMENTS LIMITED, BYCITY
HOLDINGS LIMITED, BYCITY DEVELOPMENTS LIMITED, BYCITY ACCESSORIES
LIMITED
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Director
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MR MOHIT JAIN
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Service Address
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8 WISEMAN ROAD, LEYTON, LONDON, E10
7BU.
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Country of Origin
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UNITED
KINGDOM
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Date of Birth
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27/07/1976
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Appointment Date
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23/11/2007
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Other Directorships
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BYCITY ACCESSORIES LIMITED
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Share Capital
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Shares
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Ordinary GBP 1.00
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Issued Number
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100
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Principal Shareholder
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25 ZahedMahroof
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24 MahroofWaheed
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24 Mohit Jain
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22 Estate of Mr Abdul Mahroof
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5 BukhariNisar
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The above reflects the principle shareholder(s) by number of shares held,
irrespective of share classification type.
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Financial Data– Statutory Accounts
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Profit & Loss Accounts are not available for companies
categorised as small companies under the companies act.
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For annual accounts images, view the
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The following figures are shown in units of 1000
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Number of Weeks
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52
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52
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52
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52
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Accounts Date
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31/03/2011
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31/03/2010
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31/03/2009
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31/03/2008
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Currency
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GBP
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GBP
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GBP
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GBP
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TOTAL FIXED ASSETS
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317
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15
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Tangible Assets
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317
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15
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TOTAL CURRENT ASSETS
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591
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763
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385
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399
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Trade debtors
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260
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211
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311
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322
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Stocks
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63
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105
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52
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52
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Other Current Assets
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268
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447
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22
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25
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Cash
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268
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447
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22
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25
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TOTAL ASSETS
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908
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763
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385
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414
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TOTAL CURRENT LIABILITIES
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549
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644
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312
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382
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Trade creditors
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537
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644
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312
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382
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Short Term Loans
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12
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Bank Overdraft
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12
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WORKING CAPITAL
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42
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119
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73
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17
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TOTAL LONG TERM LIABS
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198
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NET ASSETS/(LIABILITIES)
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161
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119
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73
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32
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SHARE CAPITAL + RESERVES
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161
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119
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73
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32
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Profit and Loss account
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161
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119
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73
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32
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SHAREHOLDERS FUNDS
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161
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119
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73
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32
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CAPITAL EMPLOYED
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359
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119
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73
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32
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The following figures are shown in units of 1000
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Number of Weeks
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52
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52
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52
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52
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Accounts Date
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31/03/2011
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31/03/2010
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31/03/2009
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31/03/2008
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Currency
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GBP
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GBP
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GBP
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GBP
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Liquid Assets
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528
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658
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333
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347
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Net Working Capital
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42
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119
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73
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17
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Other Deferred Liabs
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198
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Tangible Net Worth(T.N.W)
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161
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119
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73
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32
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Equity
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161
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119
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73
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32
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Number of Years Trading
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7
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6
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5
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4
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The following figures are shown as Ratios or Percentages
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Accounts Date
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31/03/2011
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31/03/2010
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31/03/2009
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31/03/2008
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Current Ratio
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1.1
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1.2
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1.2
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1
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Quick Ratio
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1
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1
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1.1
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0.9
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T.N.W/Total Assets%
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17.7
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15.6
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19
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7.7
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Borrowing Ratio%
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7.5
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Equity Gearing%
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21.6
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18.5
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23.4
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8.4
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Key Industry Sector Trends
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Year
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2012
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2011
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2010
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2009
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Sample Size
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27610
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99999
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99999
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99999
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Pre-Tax Profit Margin
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22.2
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12.1
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12.4
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12.3
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Current Ratio
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1.7
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1.8
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1.8
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1.8
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Borrowing Ratio
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138.6
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96.7
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80.1
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59.9
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Return on Capital
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89
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36.1
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42.5
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46.2
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Creditors Days
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453
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443
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521
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476
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Above figures relate to companies in 2003 Standard Industry
Classification (Nace) sector : Miscellaneous business activities not
elsewhere classified
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Financial Summary
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Auditors Qualification
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The company has taken advantage of exemptions
under the Companies Act such that the accounts have not been audited or
examined.
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No Turnover
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The company's balance sheet total is
less than GBP 2,800,001 and therefore this is a small company as defined by
the Companies Act.It is not required to disclose turnover but it is likely
to be less than GBP 5,600,000.
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No Pre-Tax Profit
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The Company is exempt from the
requirement to file a Profit Loss Account. We note that the difference on the
Profit and Loss Account shown on the Balance Sheet is GBP 42,000 increase.
This suggests that the Company may have made a post-tax profit of GBP
42,000.
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Working Capital
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The company's working capital, while remaining
positive, decreased by 65 % in the period.
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Net Worth
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Net worth was GBP 161,000.
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Long Term Liabilities
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Long term liabilities were GBP 198,000
which are 22 % of total liabilities and 55 % of capital employed.
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Currency
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Unit
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Indian Rupees
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US Dollar
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1
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Rs.54.59
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UK Pound
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1
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Rs.87.31
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Euro
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1
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Rs.69.86
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RATING
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STATUS
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PROPOSED CREDIT LINE
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>86
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Aaa
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Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums
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Unlimited
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71-85
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Aa
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Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums
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Large
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56-70
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A
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Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums
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Fairly Large
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41-55
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Ba
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Overall operation is considered normal. Capable to meet normal
commitments.
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Satisfactory
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26-40
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B
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Capability to overcome financial difficulties seems comparatively
below average.
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Small
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11-25
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Ca
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Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity
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Limited with full
security
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<10
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C
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Absolute credit risk exists. Caution needed to be exercised
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Credit not
recommended
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--
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NB
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New Business
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--
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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.
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