MIRA
INFORM REPORT
|
Report Date : |
27.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
METAL INOX LIMITED |
|
|
|
|
Registered Office : |
10-12 Barnes High Street, Barnes, Sw13 9lw |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
06.11.2003 |
|
|
|
|
Com. Reg. No.: |
04956082 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Wholesaler of metals & metal ores |
|
|
|
|
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 second largest economy in Europe
after Germany. 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 aimed 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 21% by 2014. The
Bank of England (BoE) implemented an asset purchase program of up to £375
billion (approximately $605 billion) as of December 2012. 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). In 2012, weak consumer spending and subdued business investment
weighed on the economy. GDP fell 0.1%, and the budget deficit remained
stubbornly high at 7.7% of GDP. Public debt continued to increase.
|
Source : CIA |
REGISTERED NAME & COMPANY
SUMMARY
Summary – Company
Information
Company Name METAL
INOX LIMITED
Company Number 04956082
Registered Address 10-12 BARNES HIGH STREET
BARNES
SW13 9LW
Trading Address METAL
INOX LIMITED
10-12 Barnes High Street
Barnes
SW13 9LW
Website Address http://www.metalinox.co.uk
Telephone Number -
Fax Number
TPS -
FPS No
Incorporation Date 06/11/2003
Company Status Active - Accounts Filed
Previous Name --
Type Private
limited with Share Capital
Date of Change -
Filing Date of Accounts 19/09/2012
Share Capital £4
SIC03 5152
Currency GBP
SIC03 Description WHOLESALE OF METALS & METAL ORES
SIC07 46720
SIC07 Description WHOLESALE OF METALS AND METAL ORES
Principal Activity Commodity traders.
DIRECTORS/MANAGEMENT
Directors
|
Total Current Directors |
2 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
2 |
Current Directors
|
Name |
Date of Birth |
20/12/1951 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
06/11/2003 |
|
|
|
Address |
32a St Anns Road,
Barnes, London, SW13 9LJ |
||
|
|
|
|
|
|
Name |
Date of Birth |
03/08/1959 |
|
|
Officers Title |
Ms |
Nationality |
British |
|
Present Appointments |
4 |
Function |
Director |
|
Appointment Date |
06/11/2003 |
|
|
|
Address |
32a St Anns Road,
Barnes, London, SW13 9LJ |
||
|
|
|
|
|
Current Company Secretary
|
Name |
Date of Birth |
03/08/1959 |
|
|
Officers Title |
Ms |
Nationality |
British |
|
Present Appointments |
4 |
Function |
Company Secretary |
|
Appointment Date |
06/11/2003 |
|
|
|
Address |
32a St Anns Road, Barnes, London, SW13 9LJ |
||
Directors
Previous
Director/Company Secretaries
|
Name |
Current Directorships |
Previous Directorships |
|
SLC REGISTRARS LIMITED |
366 |
807 |
|
SLC CORPORATE SERVICES LIMITED |
125 |
618 |
NEGATIVE INFORMATION
CCJ
|
Total Number of Exact
CCJs - |
Total Value of Exact
CCJs - |
|
|
|
Total Number of
Possible CCJs - |
Total Value of Possible
CCJs - |
|
|
|
Total Number of
Satisfied CCJs - |
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 |
0 |
|
Satisfied |
1 |
Full
CCJ Details
Exact CCJ Details
|
No CCJs found |
Possible CCJs Details
|
There are no possible CCJ details |
Writ Details
|
No writs found |
Mortgage Details
|
Mortgage Type: |
DEED OF CHARGE OVER CREDIT BALANCES |
||
|
Date Charge Created: |
14/01/11 |
|
|
|
Date Charge Registered: |
19/01/11 |
|
|
|
Date Charge Satisfied: |
14/03/13 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s) Entitled: |
BARCLAYS BANK PLC |
||
|
Amount Secured: |
|
||
|
Details: |
THE CHARGE CREATES A FIXED CHARGE OVER ALL THE DEPOSIT(S) REFERRED TO
IN THE SCHEDULE TO THE FORM 395 (INCLUDING ALL ORANY PART OF THE MONEY
PAYABLE PURSUANT TO SUCH DEPOSIT(S) & THE DEBTS REPRESENTEDTHEREBY)
TOGETHER WITH ALL INTEREST FROM TIME TO TIME ACCRUING THEREON. IT ALSO
CREATES AN ASSIGNMENT BY THE CHARGOR FOR THE PURPOSES OF & TO GIVE EFFECT
TO THE SECURITY OVER THE RIGHT OF THE CHARGORTO REQUIRE REPAYMENT OF SUCH
DEPOSIT(S) & INTEREST THEREONBARCLAYS BANK PLC RE METAL INOX
LIMITEDUSDOLLAR DEPOSIT ACCOUNTACCOUNT NUMBER 57210200 |
||
SHARE & SHARE CAPITAL
INFORMATION
Top 20
Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
NIGEL SEAN SYKES-THOMPSON |
GBP |
1 |
ORDINARY A |
1 |
25 |
|
VICTORIA JANE SYKES-THOMPSON |
GBP |
1 |
ORDINARY B |
1 |
25 |
|
BENJAMIN EDWARD SYKES-THOMPSON |
GBP |
1 |
ORDINARY B |
1 |
25 |
|
REBECCA ELISABETH SYKES-THOMPSON |
GBP |
1 |
ORDINARY A |
1 |
25 |
PAYMENT INFORMATION
Summary – Payment
History
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
31/03/2012 |
- |
- |
£1,259,317 |
- |
|
31/03/2011 |
- |
- |
£959,321 |
- |
|
31/03/2010 |
- |
- |
£534,709 |
- |
Payment Information Summary
|
Days Beyond Terms |
Trend Indicator |
Average
Payment Experience |
|
||||
|
Steady Improving Worsening |
Be the first to leave a payment experience
|
|
Creditor & Debtor Details
Creditor Details
|
No Creditor Data |
|
Total Value |
- |
Trade Debtors /
Bad Debt Detail
|
No Debtor Data |
|
Total Value |
- |
GROUP STRUCTURE & AFFILIATED
COMPANIES
Group Structure
Statistics
|
Group |
- |
|
Linkages |
|
|
Countries |
Summary
|
Holding Company |
- |
|
Ownership Status |
|
|
Ultimate Holding
Company |
- |
Group structure
No group structure
Linkages
Statistics
|
Group |
0 companies |
|
Linkages |
0 companies |
|
Countries |
In 0 countries |
FINANCIAL INFORMATION
Profit & Loss
|
Date Of Accounts |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
(%) |
31/03/09 |
(%) |
31/03/08 |
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Gross Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Wages & Salaries |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Directors Emoluments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Depreciation |
£1,348 |
-8.9% |
£1,479 |
-7.6% |
£1,600 |
43.9% |
£1,112 |
6.7% |
£1,042 |
|
Audit Fees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Interest Payments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Pre Tax Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Profit After Tax |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Balance Sheet
|
Date Of Accounts |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
(%) |
31/03/09 |
(%) |
31/03/08 |
|
Tangible Assets |
£4,045 |
-8.9% |
£4,439 |
-7.5% |
£4,799 |
43.9% |
£3,336 |
6.7% |
£3,127 |
|
Intangible Assets |
0 |
-100% |
£13,333 |
-64.3% |
£37,333 |
-39.1% |
£61,333 |
-28.1% |
£85,333 |
|
Total Fixed Assets |
£4,045 |
-77.2% |
£17,772 |
-57.8% |
£42,132 |
-34.8% |
£64,669 |
-26.9% |
£88,460 |
|
Stock |
£89,816 |
7.5% |
£83,567 |
- |
0 |
- |
0 |
- |
0 |
|
Trade Debtors |
£1,242,428 |
-60.7% |
£3,160,467 |
199.9% |
£1,053,929 |
70.4% |
£618,530 |
-34.3% |
£941,321 |
|
Cash |
£1,023,576 |
-0.6% |
£1,029,616 |
220% |
£321,789 |
-45.2% |
£587,354 |
4.8% |
£560,447 |
|
Other Debtors |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£2,355,820 |
-44.9% |
£4,273,650 |
210.6% |
£1,375,718 |
14.1% |
£1,205,884 |
-19.7% |
£1,501,768 |
|
Trade Creditors |
£1,100,548 |
-67% |
£3,332,101 |
277.3% |
£883,141 |
39.4% |
£633,562 |
-38.7% |
£1,033,137 |
|
Bank Loans & Overdrafts |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Liabilities |
£1,100,548 |
-67% |
£3,332,101 |
277.3% |
£883,141 |
39.4% |
£633,562 |
-38.7% |
£1,033,137 |
|
Bank Loans & Overdrafts and LTL |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long Term Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
Capital &
Reserves
|
Date Of Accounts |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
(%) |
31/03/09 |
(%) |
31/03/08 |
|
Called Up Share Capital |
£4 |
- |
£4 |
- |
£4 |
- |
£4 |
- |
£4 |
|
P & L Account Reserve |
£1,259,313 |
31.3% |
£959,317 |
79.4% |
£534,705 |
-16.1% |
£636,987 |
14.3% |
£557,087 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£1,259,317 |
31.3% |
£959,321 |
79.4% |
£534,709 |
-16.1% |
£636,991 |
14.3% |
£557,091 |
Other Financial
Items
|
Date Of Accounts |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
(%) |
31/03/09 |
(%) |
31/03/08 |
|
Net Worth |
£1,259,317 |
33.1% |
£945,988 |
90.2% |
£497,376 |
-13.6% |
£575,658 |
22% |
£471,758 |
|
Working Capital |
£1,255,272 |
33.3% |
£941,549 |
91.1% |
£492,577 |
-13.9% |
£572,322 |
22.1% |
£468,631 |
|
Total Assets |
£2,359,865 |
-45% |
£4,291,422 |
202.7% |
£1,417,850 |
11.6% |
£1,270,553 |
-20.1% |
£1,590,228 |
|
Total Liabilities |
£1,100,548 |
-67% |
£3,332,101 |
277.3% |
£883,141 |
39.4% |
£633,562 |
-38.7% |
£1,033,137 |
|
Net Assets |
£1,259,317 |
31.3% |
£959,321 |
79.4% |
£534,709 |
-16.1% |
£636,991 |
14.3% |
£557,091 |
Cash Flow
|
Date Of Accounts |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
(%) |
31/03/09 |
(%) |
31/03/08 |
|
Net Cashflow from Operations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow before Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow from Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Increase in Cash |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Miscellaneous
|
Date Of Accounts |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
(%) |
31/03/09 |
(%) |
31/03/08 |
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£1,259,317 |
31.3% |
£959,321 |
79.4% |
£534,709 |
-16.1% |
£636,991 |
14.3% |
£557,091 |
|
Number of Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Auditors |
|
||||||||
|
Auditor Comments |
The company is exempt from audit |
||||||||
Ratios
|
Date Of Accounts |
31/03/12 |
31/03/11 |
31/03/10 |
31/03/09 |
31/03/08 |
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
Current ratio |
2.14 |
1.28 |
1.56 |
1.90 |
1.45 |
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
0 |
0 |
0 |
0 |
0 |
|
Equity in % |
53.40 |
22.40 |
38.70 |
52.70 |
37 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid Test |
2.05 |
1.25 |
1.55 |
1.90 |
1.45 |
|
Return On Capital Employed % |
- |
- |
- |
- |
- |
|
Return On Total Assets Employed % |
- |
- |
- |
- |
- |
|
Current Debt Ratio |
0.87 |
3.47 |
1.65 |
0.99 |
1.85 |
|
Total Debt Ratio |
0.87 |
3.47 |
1.65 |
0.99 |
1.85 |
|
Stock Turnover Ratio % |
- |
- |
- |
- |
- |
|
Return on Net Assets Employed % |
- |
- |
- |
- |
- |
ADDITIONAL INFORMATION
Commentary
|
No exact match CCJs are recorded against the
company. |
|
|
The credit limit on this company has risen 25% 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 33.1% during the latest
trading period. |
|
|
A 45% decline 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 a decrease in their Cash Balance
of 0.6% 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 movement in accumulated earnings would
indicate that the company made a profit after tax and other appropriations,
including dividends. |
|
|
The company was established over 9 years ago. |
|
Event History
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
28/11/2012 |
Annual Returns |
|
26/09/2012 |
New Accounts Filed |
|
22/11/2011 |
Annual Returns |
|
20/10/2011 |
New Accounts Filed |
|
25/11/2010 |
Annual Returns |
|
07/09/2010 |
New Accounts Filed |
|
07/01/2010 |
Annual Returns |
|
14/12/2009 |
Annual Returns |
|
14/09/2009 |
New Accounts Filed |
|
25/01/2009 |
New Accounts Filed |
|
11/01/2009 |
Annual Returns |
|
04/09/2007 |
New Accounts Filed |
|
19/09/2006 |
New Accounts Filed |
|
13/10/2005 |
New Accounts Filed |
|
29/04/2005 |
Change in Reg.Office |
Previous Company
Names
|
No Previous Names found |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.68 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.