MIRA INFORM REPORT
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Report Date : |
08.10.2012 |
IDENTIFICATION DETAILS
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Name : |
RAS EXPORT LTD. |
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Registered Office : |
417 Boothferry Road Hessle, HU13 0JJ |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
06.07.2006 |
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Com. Reg. No.: |
05868421 |
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Legal Form : |
Private Independent |
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Line of Business : |
Other Personal Services |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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United Kingdom |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
Ras Export Ltd.
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Industry
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Industry |
Personal Services |
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ANZSIC 2006: |
9539 - Other Personal Services Not
Elsewhere Classified |
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NACE 2002: |
9305 - Other service activities not
elsewhere classified |
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NAICS 2002: |
8129 - Other Personal Services |
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UK SIC 2003: |
9305 - Other service activities not
elsewhere classified |
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UK SIC 2007: |
9609 - Other personal service activities
n.e.c. |
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US SIC 1987: |
7299 - Miscellaneous Personal Services,
Not Elsewhere Classified |
Key Executives
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Financial
Summary
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1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.623776
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6434593
Corporate Overview
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Executives Report
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Directors and Shareholders Report
Annual Return Date: 06 Jul 2011
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
12 Jan 1953 |
417 Boothferry Road, |
06 Jul 2006 |
NA |
Current:2 |
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Current |
24 Dec 1951 |
417 Boothferry Road, |
06 Jul 2006 |
NA |
Current:1 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Company Directors Limited |
Previous |
788-790 Finchley Road, |
06 Jul 2006 |
06 Jul 2006 |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
12 Jan 1953 |
417 Boothferry Road, |
06 Jul 2006 |
NA |
Current:2 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Temple Secretaries Limited |
Previous |
788-790 Finchley Road, |
06 Jul 2006 |
06 Jul 2006 |
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Individual Shareholders |
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Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
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Anil Kumar Rahmal Shah |
51 Ordinary GBP 1.00 |
Ordinary |
51 |
1.00 |
51.00 |
51.00 |
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Rantan Anil Shah |
49 Ordinary GBP 1.00 |
Ordinary |
49 |
1.00 |
49.00 |
49.00 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
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Annual Profit & Loss
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Financials in: USD (mil) |
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Except for share items (millions) and per
share items (actual units) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
78 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate
(Period Average) |
0.623776 |
0.647573 |
0.641508 |
0.545576 |
0.499878 |
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Consolidated |
No |
No |
No |
No |
No |
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Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate |
0.643459 |
0.638712 |
0.619253 |
0.695531 |
0.502361 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Stocks |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Stocks Work In Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Debtors |
1.6 |
0.4 |
0.2 |
0.2 |
0.0 |
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Cash and Equivalents |
0.0 |
0.0 |
0.2 |
0.0 |
0.1 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
1.6 |
0.4 |
0.4 |
0.2 |
0.1 |
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Total Assets |
1.6 |
0.4 |
0.4 |
0.2 |
0.1 |
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Other Current Liabilities |
1.5 |
0.3 |
0.4 |
0.2 |
0.1 |
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Total Current Liabilities |
1.5 |
0.3 |
0.4 |
0.2 |
0.1 |
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Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Deferred Taxation |
- |
- |
- |
- |
0.0 |
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Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Issued Capital |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Retained Earnings |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Shareholders Funds |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
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Net Worth |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
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Annual Cash
Flows |
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Financials in:
USD (mil) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
78 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate
(Period Average) |
0.623776 |
0.647573 |
0.641508 |
0.545576 |
0.499878 |
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Consolidated |
No |
No |
No |
No |
No |
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Annual Ratios |
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Financials in:
USD (mil) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
78 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate |
0.643459 |
0.638712 |
0.619253 |
0.695531 |
0.502361 |
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Consolidated |
No |
No |
No |
No |
No |
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Current Ratio |
1.07 |
1.04 |
1.02 |
1.08 |
0.78 |
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Liquidity Ratio |
1.07 |
1.04 |
1.02 |
1.08 |
0.78 |
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Equity Gearing |
7.06% |
4.64% |
2.15% |
8.23% |
-23.39% |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.62 |
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1 |
Rs.83.57 |
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Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
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Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.