MIRA INFORM REPORT

 

 

Report Date :

30.11.2012

 

IDENTIFICATION DETAILS

 

Name :

MANCHESTER BUREAU OF MERCHANTS LTD

 

 

Registered Office :

7 Cholmondeley Avenue, Timperley, Altrincham, Wa14 5ba

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

31.01.2012

 

 

Date of Incorporation :

11.02.2009

 

 

Com. Reg. No.:

06816191

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Non-specialised wholesale of food, beverages & tobacco

 

 

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 :

Slow but Correct

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 name & address 

 

Company Name:          MANCHESTER BUREAU OF MERCHANTS LTD

Company No:               06816191

 

Registered Address:

7 CHOLMONDELEY AVENUE

TIMPERLEY

ALTRINCHAM

WA14 5BA

 

 

Company summary 

 

               

Company Name

MANCHESTER BUREAU OF MERCHANTS LTD

Company Number

06816191

Registered Address

7 CHOLMONDELEY AVENUE

Trading Address

7 Cholmondeley Avenue
Timperley
Altrincham
Cheshire
WA14 5BA

 

TIMPERLEY

 

 

ALTRINCHAM

 

 

WA14 5BA

 

Website Address

-

 

 

Telephone Number

-

Fax Number

 

TPS

-

FPS

No

Incorporation Date

11/02/2009

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private limited with Share Capital

Date of Change

-

Filing Date of Accounts

27/10/2012

 

 

Share Capital

£900

SIC03

5139

Currency

GBP

SIC03 Description

NON-SPECIALISED WHOLESALE OF FOOD, BEVERAGES & TOBACCO

SIC07

46390

SIC07 Description

NON-SPECIALISED WHOLESALE OF FOOD, BEVERAGES AND TOBACCO

 

 

Commentary

 

No exact match CCJs are recorded against the company.

The credit limit on this company has risen 999.9% in comparison to the previously suggested credit limit.

There is insufficient data to indicate a change in this companies percentage of sales.

Net Worth increased by 999.9% during the latest trading period.

A 56.6% growth in Total Assets occurred during the latest trading period.

There is insufficient data to indicate a change in this companies pre-tax profit.

The company saw an increase in their Cash Balance of 320.5% during the latest trading period.

The company is exempt from audit.

No recent changes in directorship are recorded.

The company is not part of a group.

The positive change in the P&L Account Reserve suggests that the company made a profit after tax and other appropriations.

The company has changed its registered address recently.

The company was established over 3 years ago.



Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/01/2012

-

-

£98,205

-

31/01/2011

-

-

£2,698

-

31/01/2010

-

-

£1,223

-

 

 

Payment Information Summary

 

Days Beyond Terms

Trend Indicator

                         Average Payment Experience  What are Creditsafe Users saying about this company's payment behavior? This is Information on a target company's payment behaviour supplied directly by Creditsafe companies based on their direct experience of the company.

 

 

N/A

10

Company DBT

UK Average DBT

Steady

   

ImprovingWorsening

Be the first to leave a payment experience 
for this company
Within Terms91+ Days

 

 

 

CCJ

 

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

 

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

 

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

 

Total Number of Writs -

-

 

 

 

Exact CCJ Details

 

There are no exact CCJ details

 

 

Possible CCJ Details

 

There are no possible CCJ details

 

 

Writ Details

 

There are no writ details

 

 

Mortgage Summary

 

Outstanding

2

Satisfied

0

 

 

Total Current Directors

1

Total Current Secretaries

0

Total Previous Directors / Company Secretaries

1

 

 

Current Directors

 

Name

Mukesh Kumar Singh

Date of Birth

06/05/1970

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

11/02/2009

 

 

Address

7 Cholmondely Avenue,  ,  Timperely,  WA14 5BA

 

 

 

 



Current Company Secretary

 

Top 20 Shareholders

Name

Individual Share Value

MUKESH KUMAR SINGH

900 ORDINARY GBP 1.00

 

Balance Sheet

 

Date Of Accounts

31/01/12

31/01/11

31/01/10

-

-

Tangible Assets

£4,718

£4,323

£5,167

-

-

Intangible Assets

0

0

0

-

-

Total Fixed Assets

£4,718

£4,323

£5,167

-

-

Stock

£91,650

£79,063

£85,000

-

-

Trade Debtors

£185,607

£111,144

£46,989

-

-

Cash

£36,166

£8,601

£1,824

-

-

Other Debtors

0

0

0

-

-

Miscellaneous Current Assets

0

0

0

-

-

Total Current Assets

£313,423

£198,808

£133,813

-

-

Trade Creditors

£198,975

£187,934

£124,320

-

-

Bank Loans & Overdrafts

0

0

0

-

-

Other Short Term Finance

0

0

0

-

-

Miscellaneous Current Liabilities

0

0

0

-

-

Total Current Liabilities

£198,975

£187,934

£124,320

-

-

Bank Loans & Overdrafts and LTL

£20,961

£12,499

£13,437

-

-

Other Long Term Finance

0

0

0

-

-

Total Long Term Liabilities

£20,961

£12,499

£13,437

-

-

 

 

Capital & Reserves

 

Date Of Accounts

31/01/12

31/01/11

31/01/10

-

-

Called Up Share Capital

£900

£900

£900

-

-

P & L Account Reserve

£97,305

£1,798

£323

-

-

Revaluation Reserve

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

Shareholder Funds

£98,205

£2,698

£1,223

-

-

 

 

Other Financial Items

 

Date Of Accounts

31/01/12

31/01/11

31/01/10

-

-

Net Worth

£98,205

£2,698

£1,223

-

-

Working Capital

£114,448

£10,874

£9,493

-

-

Total Assets

£318,141

£203,131

£138,980

-

-

Total Liabilities

£219,936

£200,433

£137,757

-

-

Net Assets

£98,205

£2,698

£1,223

-

-

 

 

Miscellaneous

 

Date Of Accounts

31/01/12

31/01/11

31/01/10

-

 

Contingent Liability

NO

NO

NO

Capital Employed

£119,166

£15,197

£14,660

-

Number of Employees

-

-

-

-

 

Auditors

 

Auditor Comments

The company is exempt from audit

 

 

Ratios

 

Date Of Accounts

31/01/12

31/01/11

31/01/10

-

-

Pre-tax profit margin %

-

-

-

-

-

Current ratio

1.58

1.06

1.08

-

-

Sales/Net Working Capital

-

-

-

-

-

Gearing %

21.30

463.30

1098.70

-

-

Equity in %

30.90

1.30

0.90

-

-

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

1.11

0.63

0.39

-

-

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

2.02

69.65

101.65

-

-

Total Debt Ratio

2.23

74.28

112.63

-

-

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

06/11/2012

New Accounts Filed

17/01/2012

Annual Returns

18/08/2011

New Accounts Filed

18/08/2011

New Accounts Filed

11/05/2011

Change in Reg.Office

30/03/2011

Annual Returns

06/12/2010

Mr B. Pulla has left the board

23/07/2010

New Accounts Filed

06/03/2010

Annual Returns

13/02/2009

Change of Name

13/02/2009

Change in Reg.Office

13/02/2009

Change of Company Postcode

13/02/2009

New Board Member Mr B. Pulla appointed

13/02/2009

New Board Member Mr M.K. Singh appointed

 

 

Previous Company Names

 

No Previous Names found

 

 

Statistics

 

Group

-

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

-

Ownership Status

 

 

Ultimate Holding Company

-

Group structure

 

No group structure

 


Statistics

 

Group

0 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Exact CCJ Details

 

No CCJs found

 

 

Possible CCJs Details

 

There are no possible CCJ details

 

 

Writ Details

 

No writs found

 

 

Mortgage Details

 

Mortgage Type:

DEBENTURE

Date Charge Created:

06/08/09

 

 

Date Charge Registered:

14/08/09

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

HSBC BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

 

Mortgage Type:

DEBENTURE

Date Charge Created:

21/07/09

 

 

Date Charge Registered:

22/07/09

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

HSBC BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

 

 

Creditor Details

 

No Creditor Data

Total Value

-

 

 

Trade Debtors / Bad Debt Detail

 

No Debtor Data

Total Value

-

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

Bheemanna Pulla

0

1




FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.20

UK Pound

1

Rs.88.38

Euro

1

Rs.71.47

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.