MIRA INFORM REPORT
|
Report Date : |
29.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
GAFBROS LTD.
|
|
|
|
|
Registered Office : |
Littleholme Street,
Leicester, LE3 5NG |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
30.04.2012 |
|
|
|
|
Date of Incorporation : |
28.04.1976 |
|
|
|
|
Com. Reg. No.: |
01256243 |
|
|
|
|
Legal Form : |
Private
Independent Company |
|
|
|
|
Line of Business : |
manufacturers and importers of packaging items -
Printed or unprinted polythene and paper bags Printed or unprinted laminated
packaging materials for food & industrial materials Disposable food and drink
cartons Plastic containers and cutlery Mono/multilayer packaging materials
Sanitary materials Clothing Accessories Stationary |
|
|
|
|
No. of Employees : |
20 |
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 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 – 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 |
Company name & address
Gafbros Ltd.
Littleholme
Street
Leicester, LE3
5NG
United Kingdom
Tel: 01162530380
Fax: 01162510377
Web: www.gafbros.com
Synthesis
Employees: 20
Company Type: Private
Independent
Quoted Status: Non-quoted Company
Incorporation
Date: 28-Apr-1976
Auditor: Arif
Malida
Financials in: usd (Millions)
Fiscal Year End: 30-Apr-2012
Reporting
Currency: British Pound Sterling
Annual Sales: NA
Total Assets: 3.1
Business Description
Gafbros Limited
has been established for over 25 years, and is a family owned business with a
reputation second to none and envied by competitors. As both manufacturers and
importers we offer a miscellany of packaging items. Printed or unprinted
polythene and paper bags Printed or unprinted laminated packaging materials for
food & industrial materials Disposable food and drink cartons Plastic
containers and cutlery Mono/multilayer packaging materials Sanitary materials
Clothing Accessories Stationary We are situated in the Midlands and close to
the M1, M6, M69 and M5, we are able to deliver your goods swiftly and
efficiently via our own fleet of vehicles to anywhere in the United Kingdom. To
ensure that you always receive the best value for money, our professional and
experienced buyers source products in bulk from the global market. We take
pride in the relationships we have built with our suppliers and the value we
are therefore able to offer you.
Industry
Industry
Miscellaneous Wholesale
ANZSIC 2006: 3739 - Other Goods Wholesaling Not Elsewhere
Classified
ISIC Rev 4: 4690 - Non-specialized wholesale trade
NACE Rev 2: 4690 - Non-specialised wholesale trade
NAICS 2012: 423990 - Other Miscellaneous Durable Goods
Merchant Wholesalers
UK SIC 2007: 4690 - Non-specialised wholesale trade
US SIC 1987: 5099 - Durable Goods, Not Elsewhere
Classified
Key Executives
|
Name |
Title |
|
Iqbal Gassar |
Managing Director |
|
Yusuf Gaffar |
Finance Director |
|
Iqbal Abdul Gaffar |
Secretary |
|
Bi Aziz |
IT Manager |
|
Sikander Alli Abdul Gaffar |
Director |
Financial
Summary
|
||||||||||||||||||||
1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.627861
2 - Balance Sheet
Item Exchange Rate: USD 1 = GBP 0.6148738
Corporate Overview
Location
Littleholme
Street
Leicester, LE3
5NG
Leicestershire
County
United Kingdom
Tel: 01162530380
Fax: 01162510377
Web: www.gafbros.com
Sales GBP(mil): NA
Assets GBP(mil): 1.9
Employees: 20
Fiscal Year End: 30-Apr-2012
Industry: Miscellaneous Capital
Goods
Registered Address:
25/27 Little
Holme Street
Leicester, LE3
5NG
United Kingdom
Incorporation
Date: 28-Apr-1976
Company Type: Private Independent
Quoted Status: Not Quoted
Registered
No.(UK): 01256243
Managing
Director: Iqbal Gassar
Industry Codes
ANZSIC 2006
Codes:
3739 - Other
Goods Wholesaling Not Elsewhere Classified
ISIC Rev 4 Codes:
4690 - Non-specialized
wholesale trade
NACE Rev 2 Codes:
4690 - Non-specialised
wholesale trade
NAICS 2012 Codes:
423990 - Other
Miscellaneous Durable Goods Merchant Wholesalers
US SIC 1987:
5099 - Durable
Goods, Not Elsewhere Classified
UK SIC 2007:
4690 - Non-specialised
wholesale trade
Business Description
Wholesaling and
distribution of packaging and wrapping materials.
More Business Descriptions
Packagers
Gafbros Limited
has been established for over 25 years, and is a family owned business with a
reputation second to none and envied by competitors. As both manufacturers and
importers we offer a miscellany of packaging items. Printed or unprinted
polythene and paper bags Printed or unprinted laminated packaging materials for
food & industrial materials Disposable food and drink cartons Plastic
containers and cutlery Mono/multilayer packaging materials Sanitary materials
Clothing Accessories Stationary We are situated in the Midlands and close to
the M1, M6, M69 and M5, we are able to deliver your goods swiftly and
efficiently via our own fleet of vehicles to anywhere in the United Kingdom. To
ensure that you always receive the best value for money, our professional and
experienced buyers source products in bulk from the global market. We take
pride in the relationships we have built with our suppliers and the value we
are therefore able to offer you.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EXECUTIvE REpORT
|
|
Board of
Directors |
|
|
|
|
||||
|
Director |
Director/Board Member |
|
||||
|
|||||||
|
Executives |
|
|
|
|
|||
|
Managing Director |
Managing Director |
|
|||
|
Secretary |
Company Secretary |
|
|||
|
||||||
|
Finance Director |
Finance Executive |
|
|
||
|
IT Manager |
Information Executive |
|
|
||
Directors and Shareholders Report
|
Main Office Address: |
Tel: 01162530380 |
Annual Return Date: 21 Sep 2012 |
|
Individual Directors |
|||||||
|
|
|||||||
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Iqbal Abdul |
Current |
23 Sep 1956 |
11 Silverwood Close, |
15 Oct 1991 |
NA |
Current:2 |
|
|
Sikander Alli Abdul |
Current |
17 Mar 1955 |
34 Knighton Grange Road, |
15 Oct 1991 |
NA |
Current:1 |
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
Corporate Directors |
|
|
|
There are no corporate directors for this company. |
|
|
|
Individual Secretaries |
|||||||
|
|
|||||||
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Iqbal Abdul |
Current |
23 Sep 1956 |
11 Silverwood Close, |
15 Oct 1991 |
NA |
Current:2 |
|
|
|
|
||||||
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
Corporate Secretaries |
|
|
|
There are no corporate secretaries for this company. |
|
|
|
Individual Shareholders |
||||||
|
|
||||||
|
Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
I A Gaffar |
500 Ordinary GBP 1.00 |
Ordinary |
500 |
1.00 |
500.00 |
50.00 |
|
S A A Gaffar |
500 Ordinary GBP 1.00 |
Ordinary |
500 |
1.00 |
500.00 |
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)
|
|
|
|
|
|
|
|
30-Apr-2012 |
30-Apr-2011 |
30-Apr-2010 |
30-Apr-2009 |
30-Apr-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.627861 |
0.640008 |
0.625491 |
0.607152 |
0.498433 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
|
Annual Balance Sheet
Financials in: USD (mil)
|
|
30-Apr-2012 |
30-Apr-2011 |
30-Apr-2010 |
30-Apr-2009 |
30-Apr-2008 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.614874 |
0.599538 |
0.653317 |
0.674855 |
0.50491 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Total Tangible Fixed Assets |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
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 |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Stocks Work In Progress |
1.8 |
1.7 |
1.5 |
1.2 |
1.5 |
|
Total Debtors |
1.2 |
1.1 |
1.3 |
1.2 |
1.5 |
|
Cash and Equivalents |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
3.0 |
2.9 |
2.8 |
2.4 |
3.0 |
|
Total Assets |
3.1 |
3.0 |
2.9 |
2.5 |
3.1 |
|
Other Current Liabilities |
1.8 |
1.7 |
1.7 |
1.4 |
1.7 |
|
Total Current Liabilities |
1.8 |
1.7 |
1.7 |
1.4 |
1.7 |
|
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 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
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 |
0.0 |
|
Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
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 |
1.3 |
1.3 |
1.1 |
1.1 |
1.4 |
|
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 |
1.3 |
1.3 |
1.1 |
1.1 |
1.4 |
|
Net Worth |
1.3 |
1.3 |
1.1 |
1.1 |
1.4 |
Annual Ratios
Financials in: USD (mil)
|
|
|
|
|
30-Apr-2012 |
30-Apr-2011 |
30-Apr-2010 |
30-Apr-2009 |
30-Apr-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.614874 |
0.599538 |
0.653317 |
0.674855 |
0.50491 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.66 |
1.68 |
1.58 |
1.69 |
1.76 |
|
Liquidity Ratio |
0.68 |
0.68 |
0.75 |
0.83 |
0.88 |
|
Equity Gearing |
41.50% |
42.37% |
39.77% |
43.28% |
45.75% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.68.36 |
|
UK Pound |
1 |
Rs.106.03 |
|
Euro |
1 |
Rs.91.47 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.