MIRA INFORM REPORT

 

 

Report Date :

16.11.2012

 

IDENTIFICATION DETAILS

 

Name :

LIBERTY COMMODITIES LTD.

 

 

Registered Office :

Berkeley Square, London, W1J 6BU

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

30.06.2012

 

 

Date of Incorporation :

10.04.1997

 

 

Com. Reg. No.:

03349135

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

International commodity traders

 

 

No. of Employees :

19

 

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 :

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 30, 2011

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 name and address

 

Liberty Commodities Ltd.

 

 

 

3Rd Floor Berkeley Square Hous

Berkeley Square

 

London, W1J 6BU

United Kingdom

 

 

Tel:

020 7812 7200

 

Employees:

19

Company Type:

Private Subsidiary

Corporate Family:

4 Companies

Ultimate Parent:

Liberty House UK Ltd.

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

10-Apr-1997

Auditor:

H W Fisher And Co

 

 

 

 

 

 

 

 

 

Fiscal Year End:

30-Jun-2010

Reporting Currency:

US Dollar

Annual Sales:

408.9  1

Net Income:

0.8

Total Assets:

142.3

 

 

 

 

 

 

 

 

Business Description

 

 

International commodity traders

 

 

Industry

 

 

Industry

Miscellaneous Capital Goods

ANZSIC 2006:

3322 - Metal and Mineral Wholesaling

NACE 2002:

5152 - Wholesale of metals and ores

NAICS 2002:

423520 - Coal and Other Mineral and Ore Merchant Wholesalers

UK SIC 2003:

5152 - Wholesale of metals and ores

US SIC 1987:

505 - Metals and Minerals, Except Petroleum

 

 

Key Executives

 

 

Name

Title

 

Surinder Jolly

Secretary

 

Sanjeev Gupta

Director

 

 

 

News

 

 

Title

Date

TMS International Corp. Opens Trading Office in Dubai, United Arab Emirates
PR Newswire US (608 Words)

1-Feb-2012

 

Financial Summary

 

 

 

 

FYE: 30-Jun-2010

USD (mil)

Key Figures

 

Current Assets

141.83

Fixed Assets

0.47

Total Liabilities

129.54

Net Worth

12.76

 

Key Ratios

 

Current Ratio

1.09

Acid Test

0.85

 

 

Registered No.(UK)

 

03349135

 

Profit & Loss Item Exchange Rate: USD 1 = USD 1

Balance Sheet Item Exchange Rate: USD 1 = USD 1

 

 

Corporate Overview

 

 

Location
3Rd Floor Berkeley Square Hous
Berkeley Square
London, W1J 6BU
London County
United Kingdom

 

Tel:

020 7812 7200

 

Suggest Company URL

 

Sales USD(mil):

408.9

Assets USD(mil):

142.3

Employees:

19

Fiscal Year End:

30-Jun-2010

 

 

 

Industry:

Miscellaneous Capital Goods

Incorporation Date:

10-Apr-1997

Company Type:

Private Subsidiary

Quoted Status:

Not Quoted

Registered No.(UK):

03349135

 

Director:

Sanjeev Gupta

 

 

Industry Codes

 

 

 

ANZSIC 2006 Codes:

3322

-

Metal and Mineral Wholesaling

3739

-

Other Goods Wholesaling Not Elsewhere Classified

 

NACE 2002 Codes:

5190

-

Other wholesale

5152

-

Wholesale of metals and ores

 

NAICS 2002 Codes:

423520

-

Coal and Other Mineral and Ore Merchant Wholesalers

423990

-

Other Miscellaneous Durable Goods Merchant Wholesalers

 

US SIC 1987:

505

-

Metals and Minerals, Except Petroleum

5099

-

Durable Goods, Not Elsewhere Classified

 

UK SIC 2003:

5152

-

Wholesale of metals and ores

5190

-

Other wholesale

 

 

Business Description

 

 

International commodity traders

 

 

 

 

 

 

Financial Data

 

 

Financials in:

USD(mil)

 

Revenue:

408.9

Net Income:

0.8

Assets:

142.3

Current Assets:

141.8

 

Fixed Assets:

0.5

 

Long Term Debt:

0.0

 

Total Liabilities:

129.5

 

Issued Capital:

6.7

 

Working Capital:

12.3

 

Net Worth:

12.8

 

 

 

Date of Financial Data:

30-Jun-2010

 

1 Year Growth

10.8%

NA

NA

 

 

Key Corporate Relationships

 

 

Auditor:

H W Fisher And Co

Bank:

Bcv Banque Cantonale Vaudotse

 

Auditor:

H W Fisher And Co

 

Auditor History

H W Fisher And Co

30-Jun-2010

H W Fisher And Co

30-Jun-2009

H W Fisher And Co

30-Jun-2008

H W Fisher And Co

30-Jun-2007

H W Fisher And Co

30-Jun-2006

 

 

 

USD(mil)

Audit Fees:

0.1

Audit Fiscal Year:

06-30-2010

 

 

 

 

 

Corporate Structure News

 

:

 

Liberty Commodities Ltd.

Liberty Commodities Ltd.
Total Corporate Family Members: 4

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Source

Liberty House UK Ltd.

Parent

 

 

 

 

 

 

Liberty Commodities Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Capital Goods

408.9

19

EXP

Liberty House Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Capital Goods

8.2

 

EXP

Tg Commodities Ltd

Subsidiary

London

United Kingdom

Miscellaneous Capital Goods

6.5

 

EXP

 


 

 

Liberty Commodities Ltd.

London, , United Kingdom, Tel: 020 7812 7200

Executives Report



 

Board of Directors

 

Name

Title

Function

 

Sanjeev Gupta

 

Director

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Surinder Jolly

 

Secretary

Company Secretary

 

 

Directors and Shareholders Report

 

Main Office Address:
3Rd Floor Berkeley Square Hous
Berkeley Square
London
United Kingdom W1J 6BU

Tel: 020 7812 7200

Annual Return Date: 10 Apr 2011
Total Issued Capital (GBP 000): 6,673

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Sanjeev
Gupta

Current

27 Jul 1971

3Rd Floor Berkeley Square House Berkeley Square,
London , London W1J 6BU

10 Apr 1997

NA

Current:7
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

 

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Company Directors Limited

Previous

788-790 Finchley Road,
London , London NW11 7TJ

10 Apr 1997

10 Apr 1997

 

 

 

 

Individual Secretaries

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Surinder
Jolly

Current

01 May 1938

67 Brownlow Road,
New Southgate, London N11 2BJ

10 Apr 1997

NA

Current:8
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

 

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Temple Secretaries Limited

Previous

788-790 Finchley Road,
London , London NW11 7TJ

10 Apr 1997

10 Apr 1997

 

 

 

 

Individual Shareholders

 

Name

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Liberty House UK Limited

6672641 Ordinary GBP 1.00

Ordinary

6,672,641

1.00

6,672,641.00

100.00

 

 

 

 

 

 

 

 

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)

 

 

 

 

30-Jun-2010

30-Jun-2009

30-Jun-2008

30-Jun-2007

30-Jun-2006

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Turnover

408.9

368.9

559.6

162.9

102.5

Cost of Sales

401.6

353.3

555.1

159.3

97.8

Gross Profit

7.3

15.6

4.5

3.6

4.7

Depreciation

0.1

0.1

0.1

0.1

0.1

Other Expenses

6.6

15.9

4.0

2.6

2.3

Other Income

0.2

1.2

0.5

0.2

0.2

Interest Paid

0.1

0.4

0.3

0.2

0.1

Exceptional Income

0.0

0.0

0.0

0.0

0.0

Discontinued Operations

0.0

0.0

0.0

0.0

-

Profit Before Taxes

0.7

0.4

0.8

1.1

2.6

Tax Payable / Credit

-0.1

0.4

0.4

0.4

0.0

Extraordinary Items/Debits

0.0

0.0

0.0

0.0

0.0

Dividends

0.0

0.0

0.0

0.0

0.0

Profit After Taxes

0.8

0.0

0.4

0.7

2.6

Minority Interests (Profit & Loss)

0.0

0.0

0.0

0.0

0.0

Audit Fees

0.1

0.1

0.1

0.1

0.1

Non Audit Fees

-

0.0

0.0

-

-

Number of Employees

19

17

12

10

11

Wages

1.8

1.3

0.8

0.7

0.8

Social Security Costs

0.2

0.2

0.1

0.1

0.0

Pensions

-

-

-

-

0.0

Other Pension Costs

0.0

0.0

0.0

0.0

0.0

Employees Remuneration

2.0

1.5

0.9

0.8

0.8

Directors Emoluments

-

-

-

-

0.0

Other Costs

-

-

-

-

0.0

Directors Remuneration

0.1

-

-

-

0.0

Highest Paid Director

0.1

-

-

-

0.0

 

 

Annual Balance Sheet

 

 

 

Financials in: USD (mil)

 

 

 

30-Jun-2010

30-Jun-2009

30-Jun-2008

30-Jun-2007

30-Jun-2006

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate

1

1

1

1

1

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Land & Buildings

0.0

0.0

0.0

0.0

0.0

Fixtures & Fittings

0.3

0.1

0.0

0.1

0.0

Plant & Vehicles

0.1

0.2

0.2

0.2

0.3

Total Tangible Fixed Assets

0.5

0.2

0.3

0.3

0.3

Intangible Assets

0.0

0.0

0.0

0.0

0.0

Investments

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

0.5

0.2

0.3

0.3

0.3

Stocks

32.3

14.7

46.3

5.5

6.2

Work in Progress

0.0

0.0

0.0

0.0

0.0

Total Stocks Work In Progress

32.3

14.7

46.3

5.5

6.2

Trade Debtors

101.6

94.5

174.7

54.8

25.5

Inter-Company Debtors

5.9

5.4

8.6

0.1

1.0

Other Debtors

0.7

0.5

0.3

0.3

0.3

Total Debtors

108.1

100.4

183.5

55.1

26.8

Cash and Equivalents

1.3

2.7

10.1

0.0

0.1

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

141.8

117.7

239.9

60.7

33.1

Total Assets

142.3

117.9

240.2

60.9

33.4

Trade Creditors

29.0

16.7

18.4

27.7

3.6

Bank Overdraft

85.2

79.0

206.4

16.1

16.7

Inter-Company Creditors

14.5

9.0

1.3

3.7

0.4

Director Loans (Current Liability)

-

-

-

0.0

0.2

Hire Purchase (Current Liability)

0.0

-

-

-

-

Finance Lease (Current Liability)

0.0

-

-

-

-

Total Finance Lease/Hire Purchase (Current Liability)

0.0

0.1

0.1

0.1

0.1

Accruals/Deferred Income (Current Liability)

0.2

0.3

0.2

0.2

0.2

Social Security/VAT

0.2

0.1

0.0

0.5

0.6

Corporation Tax

0.3

0.6

0.6

0.3

0.2

Other Current Liabilities

0.1

0.3

0.9

0.3

0.1

Total Current Liabilities

129.5

106.0

227.9

49.0

22.1

Group Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Director Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Hire Purchase (Long Term Liability)

0.0

0.0

-

-

-

Leasing (Long Term Liability)

0.0

0.0

-

-

-

Total Hire Purchase Loans (Long Term Liability)

0.0

0.0

0.1

0.2

0.2

Other Long Term Loans

0.0

0.0

0.0

0.0

0.0

Accruals/Deferred Income (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Liabilities

0.0

0.0

0.0

0.0

0.0

Total Long Term Liabilities

0.0

0.0

0.1

0.2

0.2

Deferred Taxation

0.0

0.0

0.0

0.0

0.0

Other Provisions

0.0

0.0

0.0

0.0

0.0

Total Provisions

0.0

0.0

0.0

0.0

0.0

Issued Capital

9.8

9.8

9.8

9.8

9.8

Share Premium Accounts

0.0

0.0

0.0

0.0

0.0

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

3.0

2.2

2.4

2.0

1.4

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

Total Shareholders Funds

12.8

11.9

12.2

11.8

11.1

Net Worth

12.8

11.9

12.2

11.8

11.1

 


Annual Cash Flows

 

 

 

Financials in: USD (mil)

 

 

 

30-Jun-2010

30-Jun-2009

30-Jun-2008

30-Jun-2007

30-Jun-2006

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Net Cash Flow From Operating Activities

-

120.8

-179.8

1.1

-8.7

Net Cash Flow from ROI and Servicing of Finance

-

-0.4

-0.1

-0.2

-0.1

Taxation

-

-0.3

-0.1

-0.3

0.0

Capital Expenditures

-

0.0

-0.1

0.0

-0.4

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

0.0

0.0

0.0

Net Cash Flow From Financing

-

-0.1

-0.1

0.0

0.3

Increase in Cash

-

120.0

-180.2

0.6

-8.8


Annual Ratios

 

 

 

Financials in: USD (mil)

 

 

 

 

 

30-Jun-2010

30-Jun-2009

30-Jun-2008

30-Jun-2007

30-Jun-2006

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate

1

1

1

1

1

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

1.09

1.11

1.05

1.24

1.50

Liquidity Ratio

0.85

0.97

0.85

1.13

1.22

Stock Turnover

12.64

25.16

12.09

29.46

16.61

Credit Period (Days)

90.65

93.52

113.96

122.81

90.91

Working Capital by Sales

3.01%

3.17%

2.14%

7.18%

10.75%

Trade Credit by Debtors

0.29

0.18

0.11

0.51

0.14

Return on Capital

5.56%

3.71%

6.22%

8.81%

22.69%

Return on Assets

0.50%

0.38%

0.32%

1.73%

7.70%

Profit Margin

0.17%

0.12%

0.14%

0.65%

2.51%

Return on Shareholders Funds

5.56%

3.71%

6.26%

8.95%

23.18%

Borrowing Ratio

781.94%

738.03%

1,706.24%

170.59%

158.90%

Equity Gearing

8.97%

10.11%

5.07%

19.33%

33.24%

Debt Gearing

-

0.04%

0.75%

1.60%

2.17%

Interest Coverage

5.03

1.20

2.79

5.99

23.87

Sales by Tangible Assets

879.22

1,554.88

1,997.24

593.59

305.61

Average Remuneration per Employee

0.1

0.1

0.1

0.1

0.1

Profit per Employee

0.0

0.0

0.1

0.1

0.2

Sales per Employee

21.5

21.7

46.6

16.3

9.3

Capital Employed per Employee

0.7

0.7

1.0

1.2

1.0

Tangible Assets per Employee

0.0

0.0

0.0

0.0

0.0

Total Assets per Employee

7.5

6.9

20.0

6.1

3.0

Employee Remuneration by Sales

0.48%

0.41%

0.17%

0.47%

0.79%

Creditor Days (Cost of Sales Based)

26.33

17.30

12.12

63.48

13.35

Creditor Days (Sales Based)

25.86

16.57

12.03

62.08

12.73

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.96

UK Pound

1

Rs.87.10

Euro

1

Rs.70.03

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.