MIRA
INFORM REPORT
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Report Date : |
22.08.2013 |
IDENTIFICATION DETAILS
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Name : |
OIL OF OLIVES COMMUNITY ADVICE LTD |
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Registered Office : |
16 Chatham House Mcneil Road London SE5 8PN |
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Country : |
United Kingdom |
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Date of Incorporation : |
14.10.2010 |
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Com. Reg. No.: |
07406900 |
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Legal Form : |
Private Ltd By Guarantee w/o Share Cap |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Dissolved |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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
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
Company name and address
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Company Name |
OIL OF OLIVES COMMUNITY ADVICE LTD |
Company Number |
07406900 |
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Registered Address |
16 CHATHAM HOUSE |
Trading Address |
Flat 16 |
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MCNEIL ROAD |
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LONDON |
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SE5 8PN |
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Website Address |
- |
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Telephone Number |
- |
Fax Number |
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TPS |
- |
FPS |
No |
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Incorporation Date |
14/10/2010 |
Company Status |
Company is dissolved |
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Previous Name |
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Type |
Private Ltd By Guarantee w/o Share Cap |
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Date of Change |
- |
Filing Date of Accounts |
- |
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Share Capital |
- |
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SIC03 |
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Currency |
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SIC03 Description |
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SIC07 |
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SIC07 Description |
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Principal Activity |
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Commentary
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No exact match CCJs are recorded against the company. |
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The credit limit on this company has fallen 100% in comparison to the
previously suggested credit limit. |
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No recent changes in directorship are recorded. |
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The company is not part of a group. |
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Newer companies are proven to be more of an insolvency risk than more
established companies. |
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The company was established over 18 months ago. |
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Key Financials
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No key Financials Registered |
Payment Information Summary
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Days Beyond Terms |
Trend Indicator |
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Steady Improving Worsening |
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CCJ
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Total Number of Exact CCJs - |
Total Value of Exact CCJs - |
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Total Number of Possible CCJs - |
Total Value of Possible CCJs - |
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Total Number of Satisfied CCJs - |
Total Value of Satisfied CCJs - |
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Total Number of Writs - |
- |
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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
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Outstanding |
0 |
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Satisfied |
0 |
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Total Current Directors |
1 |
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Total Current Secretaries |
0 |
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Total Previous Directors / Company Secretaries |
0 |
Current Directors
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Name |
Date of Birth |
14/10/1957 |
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Officers Title |
Ms |
Nationality |
Nigerian |
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Present Appointments |
1 |
Function |
Director |
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Appointment Date |
14/10/2010 |
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Address |
16 Chatham House, Mcneil Road, London, SE5 8PN |
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Status History
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Date |
Description |
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24/05/2012 |
Dissolution (Final) |
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09/02/2012 |
Dissolution (First Gazt) |
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Event History
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Date |
Description |
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19/10/2010 |
New Board Member Ms J. Idowu appointed |
Previous Company
Names
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No Previous Names found |
Statistics
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Group |
- |
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Linkages |
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Countries |
Group structure
No group structure
Statistics
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Group |
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Linkages |
0 companies |
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Countries |
In 0 countries |
Exact CCJ Details
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No CCJs found |
Possible CCJs Details
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There are no possible CCJ details |
Writ Details
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No writs found |
Mortgage Details
Creditor Details
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No Creditor Data |
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Total Value |
- |
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Trade Debtors / Bad
Debt Detail
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No Debtor Data |
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Total Value |
- |
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Previous
Director/Company Secretaries
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No Previous Director Details |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.46 |
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|
1 |
Rs.99.42 |
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Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
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 |
-- |
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.