MIRA INFORM REPORT

 

 

Report Date :

22.09.2012

 

IDENTIFICATION DETAILS

 

Name :

STONE MASTERS LTD.

 

Registered Office :

 

Pegasus House 5 Winckley Court Mount Street Preston, PR1 8BU

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.01.2011

 

 

Date of Incorporation :

23.01.2003

 

 

Com. Reg. No.:

04646203

 

 

Legal Form :

Private Independent

 

 

Line of Business :

Wholesaler of stone and stone products

 

 

No. of Employees :

Not available

 

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 :

Slow

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 – March 31st, 2012

 

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

 

Top of Form

Bottom of Form

Top of Form

 

Stone Masters Ltd.

                                                                                                                                                  

 

Pegasus House

5 Winckley Court

Mount Street

Preston, PR1 8BU

United Kingdom

(Trading Address)
Registered Address

 

 

 

 

Employees:

NA

Company Type:

Private Independent

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

23-Jan-2003

Auditor:

Skm Chartered Accountants

Financials in:

USD (mil)

 

 

Fiscal Year End:

31-Jan-2011

Reporting Currency:

British Pound Sterling

Annual Sales:

NA

Total Assets:

0.8

                                      

Business Description       

 

Wholesaler of stone and stone products.

 

Industry                                         

 

Industry

Construction - Raw Materials

ANZSIC 2006:

2090 - Other Non-Metallic Mineral Product Manufacturing

NACE 2002:

2670 - Cutting, shaping and finishing of ornamental and building stone

NAICS 2002:

327991 - Cut Stone and Stone Product Manufacturing

UK SIC 2003:

2670 - Cutting, shaping and finishing of ornamental and building stone

UK SIC 2007:

2370 - Cutting, shaping and finishing of stone

US SIC 1987:

3281 - Cut Stone and Stone Products

                      

Key Executives            

   

 

Name

Title

Mubeen Patel

Secretary

Arif Patel

Director

Gulam Billal Dawood Patel

Director

         

News   

 

Title

Date

Slippery surface plagues airport floor
Honolulu Star (Bulletin) (577 Words)

25-Jun-2012

German newspapers promote Istanbul's Haydarpasa Train Station
Anadolu Agency (138 Words)

10-Dec-2011

 

 

 

Financial Summary                                                                                 

 

FYE: 31-Jan-2011

USD (mil)

Key Figures

 

Current Assets

0.59

Fixed Assets

0.17

Total Liabilities

0.48

Net Worth

0.25

 

Key Ratios

 

Current Ratio

1.23

Acid Test

0.98

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6487866
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6243172

 

 

Corporate Overview

 

Location
Pegasus House
5 Winckley Court
Mount Street
Preston, PR1 8BU
Lancashire County
United Kingdom

 

 

 

Suggest Company URL

 

Sales GBP(mil):

NA

Assets GBP(mil):

0.5

Employees:

NA

Fiscal Year End:

31-Jan-2011

 

Industry:

Construction - Raw Materials

Registered Address:
Pegasus House, 5 Winckley Cour
Mount Street
Preston, PR1 8BU
United Kingdom

 

Incorporation Date:

23-Jan-2003

Company Type:

Private Independent

Quoted Status:

Not Quoted

Registered No.(UK):

04646203

 

Director:

Arif Patel

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

Industry Codes

 

ANZSIC 2006 Codes:

2090

-

Other Non-Metallic Mineral Product Manufacturing

333

-

Timber and Hardware Goods Wholesaling

 

NACE 2002 Codes:

2670

-

Cutting, shaping and finishing of ornamental and building stone

5153

-

Wholesale of wood, construction materials and sanitary equipment

 

NAICS 2002 Codes:

327991

-

Cut Stone and Stone Product Manufacturing

4233

-

Lumber and Other Construction Materials Merchant Wholesalers

 

US SIC 1987:

3281

-

Cut Stone and Stone Products

503

-

Lumber and Other Construction Materials

 

UK SIC 2003:

2670

-

Cutting, shaping and finishing of ornamental and building stone

5153

-

Wholesale of wood, construction materials and sanitary equipment

 

UK SIC 2007:

2370

-

Cutting, shaping and finishing of stone

4673

-

Wholesale of wood, construction materials and sanitary equipment

 

Business Description

Wholesaler of stone and stone products.

 

 

 

 

 

 

 

 

Financial Data

 

Financials in:

GBP(mil)

 

Assets:

0.5

Current Assets:

0.4

 

Fixed Assets:

0.1

 

Long Term Debt:

0.0

 

Total Liabilities:

0.3

 

Issued Capital:

NaN

 

Working Capital:

0.1

 

Net Worth:

0.2

 

 

 

Date of Financial Data:

31-Jan-2011

 

1 Year Growth

NA

Key Corporate Relationships

Auditor:

Skm Chartered Accountants

Bank:

Barclays Bank PLC

 

Auditor:

Skm Chartered Accountants

 

 

 

 

 

 

 

 

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

Arif Patel

 

Director

Director/Board Member

Age: 48

 

Gulam Billal Dawood Patel

 

Director

Director/Board Member

 

 

Age: 39

 

 

Executives

 

Name

Title

Function

Mubeen Patel

 

Secretary

Company Secretary

Age: 34

 

 

Directors and Shareholders Report

Annual Return Date: 23 Jan 2012

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Gulam Billal Dawood
Patel

Current

12 Jul 1973

39 Egerton Road,
Preston, Lancashire PR2 1AL

23 Jan 2003

NA

Current:1
Previous:0
Disqualifications:0

 

Arif
Patel

Current

04 Jan 1964

59 Powis Road, Ashton On Ribble,
Preston, Lancashire PR2 1AD

09 Mar 2006

NA

Current:2
Previous:0
Disqualifications:0

 

Mubeen
Patel

Previous

07 Oct 1977

269 Fylde Road,
Preston, Lancashire PR2 2NH

23 Jan 2003

09 Mar 2006

Current:1
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Instant Companies Limited

Previous

1 Mitchell Lane,
Bristol, Avon BS1 6BU

23 Jan 2003

23 Jan 2003

 

 

 

 

Individual Secretaries

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Mubeen
Patel

Current

07 Oct 1977

269 Fylde Road,
Preston, Lancashire PR2 2NH

23 Jan 2003

NA

Current:1
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Swift Incorporations Limited

Previous

26 Church Street,
St John's Wood, London NW8 8EP

23 Jan 2003

23 Jan 2003

 

 

 

 

Individual Shareholders

Name

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Arif Patel

50 Ordinary GBP 1.00

Ordinary

50

1.00

50.00

50.00

Shenaz Patel

50 Ordinary GBP 1.00

Ordinary

50

1.00

50.00

50.00

 

 

 

 

 

 

 

 

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)

 

 

 

 

 

 

 

31-Jan-2011

31-Jan-2010

31-Jan-2009

31-Jan-2008

31-Jan-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.648787

0.635292

0.558389

0.499611

0.53864

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Depreciation

0.0

0.0

0.0

0.0

0.1

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Jan-2011

31-Jan-2010

31-Jan-2009

31-Jan-2008

31-Jan-2007

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.624317

0.624064

0.717437

0.503018

0.510882

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Land & Buildings

-

-

-

-

0.0

Fixtures & Fittings

-

-

-

-

0.2

Plant & Vehicles

-

-

-

-

0.0

Total Tangible Fixed Assets

0.2

0.1

0.1

0.2

0.2

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

0.2

0.1

0.1

0.2

0.2

Total Stocks Work In Progress

0.1

0.2

0.2

0.3

0.5

Total Debtors

0.4

0.4

0.2

0.2

0.1

Cash and Equivalents

0.1

0.0

0.0

0.1

0.0

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

0.6

0.6

0.4

0.6

0.6

Total Assets

0.8

0.8

0.6

0.8

0.8

Trade Creditors

-

-

-

-

0.3

Total Short Term Loans

-

-

-

-

0.1

Social Security/VAT

-

-

-

-

0.0

Other Current Liabilities

0.5

0.5

0.4

0.6

0.3

Total Current Liabilities

0.5

0.5

0.4

0.6

0.7

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

0.0

0.0

0.0

Leasing (Long Term Liability)

0.0

0.0

0.0

0.0

0.1

Total Hire Purchase Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.1

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

0.0

0.0

0.1

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

0.0

0.0

0.0

0.0

0.0

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

0.3

0.2

0.2

0.2

0.0

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

0.3

0.2

0.2

0.2

0.0

Net Worth

0.2

0.2

0.1

0.1

0.0

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Jan-2011

31-Jan-2010

31-Jan-2009

31-Jan-2008

31-Jan-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.648787

0.635292

0.558389

0.499611

0.53864

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Jan-2011

31-Jan-2010

31-Jan-2009

31-Jan-2008

31-Jan-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.624317

0.624064

0.717437

0.503018

0.510882

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

1.23

1.24

1.13

1.00

0.84

Liquidity Ratio

0.98

0.82

0.55

0.49

0.15

Borrowing Ratio

-

-

4.76%

25.99%

2,857.63%

Equity Gearing

34.93%

32.00%

29.32%

19.82%

5.82%

Debt Gearing

-

-

4.76%

25.99%

1,425.94%

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.90

UK Pound

1

Rs.87.60

Euro

1

Rs.70.01

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.