MIRA INFORM REPORT

 

 

Report Date :

28.11.2012

 

IDENTIFICATION DETAILS

 

Name :

ODC MEDICAL LIMITED

 

 

Registered Office :

68 Ship Street, Brighton, East Sussex, BN1 1AE.

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.01.2012

 

 

Date of Incorporation :

02.01.2008

 

 

Com. Reg. No.:

06462144

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Human health activities

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

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

 

Subject Reported on

ODC MEDICAL LIMITED

Registration Number

06462144

 

Official Company Data

 

 

Legal Form

Private Limited

Registration Number

06462144

Subject Status

Trading

Date of Incorporation

02/01/2008

Registered Office

68 SHIP STREET, BRIGHTON, EAST SUSSEX, BN1 1AE.

Date of Last Annual Return to Registry

30/12/2011

Accounts

The last filed accounts at Companies House are those to 31/01/2012

Accounting Reference Date

31/01

 

 

Operations

 

 

Nace Code

8514

 

 

Search History Summary

 

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

 

 

Public Record Information

 

Summary of CCJ's/Scottish Decrees

 

No CCJs/Scottish Decrees are recorded in our file.

 

 

Other Filings and Notices

 

 

Date

Source

Description

 

30/05/2012

Companies House Gazette

All documents required to be delivered to the registrar under section 441 (annual accounts and reports)

24/06/2009

Companies House Gazette

Alteration in memorandum or articles of association

11/05/2009

Companies House Gazette

Change among directors of a company

20/02/2008

Companies House Gazette

Change among directors of a company

 

 

Company Secretary

Secretary

ISABELLE MARCHAND

Service Address

LA RIVIERE D'EN HAUT, BEIGNON, BRITTANY 563080.

Country of Origin

UNITED KINGDOM

Appointment Date

02/01/2008

 

 

 

 

 

 

Directors

Director

ALEXIS L'ARCHER

Service Address

3 LOT KERBABU, LOCQUEMEAV, 22300.

Country of Origin

FRANCE

Date of Birth

02/07/1981

Appointment Date

21/04/2009


Director


MR FABIEN JEAN LOUIS MARTIN

Service Address

LA RIVIERE D'EN HAUT, BEIGNON, BRITTANY 563080.

Country of Origin

FRANCE

Date of Birth

01/10/1976

Appointment Date

02/01/2008

Other Directorships

EYELENS LIMITED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share Capital

 

Shares

Ordinary GBP 1.00

Issued Number

100

Principal Shareholder

80 Fabien Jean Louis Martin

 

20 Alexis L'Archer

 

 

The above reflects the principle shareholder(s) by number of shares held, irrespective of share classification type.

 

 

 

Financial Data– Statutory Accounts

 

 

 

Profit & Loss Accounts are not available for companies categorised as small companies under the companies act.

 

 

 

Balance Sheet

 

 

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

57

Accounts Date

31/01/2012

31/01/2011

31/01/2010

31/01/2009

Currency

EUR

EUR

EUR

EUR

TOTAL FIXED ASSETS

5

2

3

2

Tangible Assets

5

2

3

2

TOTAL CURRENT ASSETS

87

40

66

5

Trade debtors

20

3

 

 

Other Current Assets

67

37

66

5

Cash

67

37

66

5

TOTAL ASSETS

92

42

69

7

TOTAL CURRENT LIABILITIES

15

6

19

6

Trade creditors

15

6

15

2

Short Term Loans

 

 

4

4

Due To Directors

 

 

4

4

WORKING CAPITAL

72

34

47

(1)

NET ASSETS/(LIABILITIES)

77

36

50

1

SHARE CAPITAL + RESERVES

77

36

50

1

Profit and Loss account

77

36

50

1

SHAREHOLDERS FUNDS

77

36

50

1

CAPITAL EMPLOYED

77

36

50

1

 

 

Financial Comparison

 

 

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

57

Accounts Date

31/01/2012

31/01/2011

31/01/2010

31/01/2009

Currency

EUR

EUR

EUR

EUR

Liquid Assets

87

40

66

5

Net Working Capital

72

34

47

(1)

Tangible Net Worth(T.N.W)

77

36

50

1

Equity

77

36

50

1

Number of Years Trading

4

3

2

1

 

 

 

Key Credit Ratio

 

 

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

31/01/2012

31/01/2011

31/01/2010

31/01/2009

Current Ratio

5.8

6.7

3.5

0.8

Quick Ratio

5.8

6.7

3.5

0.8

T.N.W/Total Assets%

83.7

85.7

72.5

14.3

Borrowing Ratio%

 

 

8

400

Equity Gearing%

513.3

600

263.2

16.7

 

 

Key Industry Sector Trends

 

 

Year

2012

2011

2010

2009

Sample Size

9910

37537

31597

27377

Pre-Tax Profit Margin

14.8

13.5

15.7

16.4

Current Ratio

1.9

1.8

1.7

1.8

Borrowing Ratio

(3.9)

21.6

35.5

29.4

Return on Capital

47.1

45.3

66.3

68.8

Creditors Days

46

86

105

96

 

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Human health activities

 

Financial Summary

 

 

Auditors Qualification

The company has taken advantage of exemptions under the Companies Act such that the accounts have not been audited or examined.

 

No Turnover

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.

 

No Pre-Tax Profit

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 EUR 41,000 increase. This suggests that the Company may have made a post-tax profit of EUR 41,000.

 

Working Capital

The company's working capital has increased by 112 % in the period.

 

Fixed Assets

The subject's fixed assets increased during the year by EUR 3,000 to EUR 5,000 and are now 5 % of total assets compared with 4 % in the previous year.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.89.34

Euro

1

Rs.72.35

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.