MIRA INFORM REPORT
|
Report Date : |
29.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
KAVIS LTD. |
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Registered Office : |
Unit 14 Copin Business Centre, South Way,
Wembley, HA9 0HB |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
12.03.1980 |
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Com. Reg. No.: |
01484865 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Subject is engaged in catering disposable
products and fresh washroom solutions |
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|
No. of Employees : |
11 |
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 |
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|
|
|
Payment Behaviour : |
Slow but Correct |
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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) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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
Kavis Ltd.
Unit 14 Copin Business Centre
South Way
Wembley, HA9 0HB
United Kingdom
Tel:
020 8902 3216
Fax: 020
8902 7365
Web: www.kavis.com
synthesis
Employees:
11
Company Type:
Private Independent
Quoted Status:
Non-quoted Company
Incorporation Date:
12-Mar-1980
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2012
Reporting Currency:
British Pound Sterling
Annual Sales:
NA
Total Assets:
1.0
Business Description
Kavis Ltd is your one source for catering
disposable products and fresh washroom solutions. As a family firm, our aim is
always to meet our customers' demands, a philosophy that has been with us
through our 30 years in business. Our range is sourced from a number of
manufacturers both in the UK and internationally, and we represent a number of
well known brands. We are also a member of a number of industry associations
including the FPA (Food Packaging Association), LACA (Local Authority Caterers
Association), NCASS (National Caterers Association) and business partner to the
Craft Guild of Chefs. This enables us to keep up with any issues and
developments within our market sectors. Kavis offers wide choices of catering
disposable products made from Plastic, Foil, Foam and Paper. Products available
include Containers, Trays, Plates, Bowls, Cutlery, Tableware, Salad and
Sandwich Packaging, Portion Pots, and Drink Cups etc. These could be used in a
variety of situations including Food to Go, Barbecues, Deli Counters, and
Al-Fresco Dining. We are always looking for innovative items to add to our
stock line. Recent times have seen an increase in products made from moulded
fibre and starch, due to environmental concerns. A bespoke service is also
available for all your print and packaging needs. Kavis has recently become the
master distributor in the UK for the EcofuelXB range of chafing fuel and
equipment. EcofuelXB is the alternative cooking and warming source for the 21st
century. Standard chafing fuels are normally considered flammable and
hazardous. However the EcofuelXB is made up of Glycol and special fibres. This
gives it many properties such as being non-flammable, easy to extinguish /
relight, low carbon emissions, long and consistent burn times, and also an
unlimited shelf life. It is the only fuel to be endorsed by the American
Culinary Federation and has been approved by many professionals across the
Foodservice industry. EcofuelXB is available in two sizes and equipment
includes cook stoves, ovens, fold-flat and disposable chafers. Kavis is also a
distributor for Technical Concept's range of innovative Washroom Solutions,
including air care, sanitisation and soap units. The NEUTRALLE Automatic Odour
Control system deals effectively with offensive and persistent smells.
Top-quality fragrance refills incorporating proprietary odour eliminator
technology combine with digital dispensers to provide round-the-clock air
freshening that reinforces a clean, fresh environment. According to research
carried out by the Brewers Society, at least 87% of people will judge a food
service outlet (be it a fast food outlet or restaurant) by the state of its
washrooms. They not only need to look clean but also SMELL clean. Clean
fresh-smelling washrooms give a clear message that customers' comfort and
safety is a priority - a message that translates from the washroom and into the
bar, kitchen and food service areas. Also the first thing that many customers
notice when they walk into your public washrooms or serving area is whether or
not there is a fresh, pleasant smell. Kavis services a wide range of firms
within the catering industry, from restaurant and takeaways, to outdoor and
contract caterers. From our facility in Wembley, we have great access to
businesses in London and the surrounding counties. Deliveries are made by our
fleet of vehicles within the M25 on a weekly basis. Please do not hesitate to
contact us with any requirements that you may have.
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
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Financial Summary
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1 - Profit & Loss
Item Exchange Rate: USD 1 = GBP 0.6267523
2 - Balance Sheet
Item Exchange Rate: USD 1 = GBP 0.6281078
Corporate Overview
Location
Unit 14 Copin
Business Centre
South Way
Wembley, HA9 0HB
Middlesex County
United Kingdom
Tel: 020 8902 3216
Fax: 020 8902 7365
Web: www.kavis.com
Sales GBP(mil): NA
Assets GBP(mil): 0.6
Employees: 11
Fiscal Year End: 31-Mar-2012
Industry: Miscellaneous Capital
Goods
Registered Address:
Unit 14 Pop In
Business Centre
South Way Wembley
Wembley, HA9 0HB
United Kingdom
Incorporation
Date: 12-Mar-1980
Company Type: Private Independent
Quoted Status: Not Quoted
Registered
No.(UK): 01484865
Director: Nalin Virchand Shah
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
Retail
non-specialised stores.
More Business Descriptions
Disposable
Products
Kavis Ltd is your
one source for catering disposable products and fresh washroom solutions. As a
family firm, our aim is always to meet our customers' demands, a philosophy
that has been with us through our 30 years in business. Our range is sourced
from a number of manufacturers both in the UK and internationally, and we
represent a number of well known brands. We are also a member of a number of
industry associations including the FPA (Food Packaging Association), LACA
(Local Authority Caterers Association), NCASS (National Caterers Association)
and business partner to the Craft Guild of Chefs. This enables us to keep up
with any issues and developments within our market sectors. Kavis offers wide
choices of catering disposable products made from Plastic, Foil, Foam and
Paper. Products available include Containers, Trays, Plates, Bowls, Cutlery,
Tableware, Salad and Sandwich Packaging, Portion Pots, and Drink Cups etc.
These could be used in a variety of situations including Food to Go, Barbecues,
Deli Counters, and Al-Fresco Dining. We are always looking for innovative items
to add to our stock line. Recent times have seen an increase in products made
from moulded fibre and starch, due to environmental concerns. A bespoke service
is also available for all your print and packaging needs. Kavis has recently
become the master distributor in the UK for the EcofuelXB range of chafing fuel
and equipment. EcofuelXB is the alternative cooking and warming source for the
21st century. Standard chafing fuels are normally considered flammable and
hazardous. However the EcofuelXB is made up of Glycol and special fibres. This
gives it many properties such as being non-flammable, easy to extinguish /
relight, low carbon emissions, long and consistent burn times, and also an
unlimited shelf life. It is the only fuel to be endorsed by the American
Culinary Federation and has been approved by many professionals across the
Foodservice industry. EcofuelXB is available in two sizes and equipment
includes cook stoves, ovens, fold-flat and disposable chafers. Kavis is also a
distributor for Technical Concept's range of innovative Washroom Solutions,
including air care, sanitisation and soap units. The NEUTRALLE Automatic Odour
Control system deals effectively with offensive and persistent smells.
Top-quality fragrance refills incorporating proprietary odour eliminator
technology combine with digital dispensers to provide round-the-clock air
freshening that reinforces a clean, fresh environment. According to research
carried out by the Brewers Society, at least 87% of people will judge a food
service outlet (be it a fast food outlet or restaurant) by the state of its
washrooms. They not only need to look clean but also SMELL clean. Clean
fresh-smelling washrooms give a clear message that customers' comfort and
safety is a priority - a message that translates from the washroom and into the
bar, kitchen and food service areas. Also the first thing that many customers
notice when they walk into your public washrooms or serving area is whether or
not there is a fresh, pleasant smell. Kavis services a wide range of firms
within the catering industry, from restaurant and takeaways, to outdoor and
contract caterers. From our facility in Wembley, we have great access to businesses
in London and the surrounding counties. Deliveries are made by our fleet of
vehicles within the M25 on a weekly basis. Please do not hesitate to contact us
with any requirements that you may have.
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Board of
Directors |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
. |
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Executives |
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Secretary |
Company Secretary |
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Directors and Shareholders Report
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Main Office
Address: |
Tel: 020 8902 3216 |
Annual Return
Date: 04 Jul 2013 |
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
05 Aug 1945 |
64 Draycott Avenue, Kenton, |
30 Jun 1991 |
NA |
Current:2 |
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|
Current |
10 Sep 1956 |
75 Nibthwaite Road, |
30 Jun 1991 |
NA |
Current:1 |
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|
Current |
27 Jun 1959 |
3 Allerford Court, |
30 Jun 1991 |
NA |
Current:1 |
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Corporate Directors |
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There are no corporate directors for this company. |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
05 Aug 1945 |
64 Draycott Avenue, Kenton, |
30 Jun 1991 |
NA |
Current:2 |
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Corporate Secretaries |
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There are no corporate secretaries for this company. |
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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 |
|
Kapurchand Virchand Shah |
50 1 Ordinary GBP 1.00 |
1 Ordinary |
50 |
1.00 |
50.00 |
33.33 |
|
Nalin Virchand Shah |
50 1 Ordinary GBP 1.00 |
1 Ordinary |
50 |
1.00 |
50.00 |
33.33 |
|
Rajendra Virchand Shah |
50 1 Ordinary GBP 1.00 |
1 Ordinary |
50 |
1.00 |
50.00 |
33.33 |
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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
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|
|
|
|
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.626752 |
0.643394 |
0.627794 |
0.592803 |
0.498361 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Depreciation |
0.0 |
0.0 |
- |
0.0 |
0.0 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.628108 |
0.62385 |
0.659239 |
0.697666 |
0.503145 |
|
Consolidated |
No |
No |
No |
No |
No |
|
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|
|
|
|
|
|
Total Tangible Fixed Assets |
0.0 |
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 |
0.0 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Stocks Work In Progress |
0.4 |
0.4 |
0.3 |
0.4 |
0.3 |
|
Total Debtors |
0.5 |
0.5 |
0.4 |
0.3 |
0.4 |
|
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 |
1.0 |
0.8 |
0.8 |
0.7 |
0.7 |
|
Total Assets |
1.0 |
0.9 |
0.8 |
0.8 |
0.8 |
|
Other Current Liabilities |
0.6 |
0.6 |
0.6 |
0.4 |
0.3 |
|
Total Current Liabilities |
0.6 |
0.6 |
0.6 |
0.4 |
0.3 |
|
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 |
|
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 |
0.4 |
0.3 |
0.2 |
0.3 |
0.4 |
|
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 |
0.4 |
0.3 |
0.2 |
0.3 |
0.4 |
|
Net Worth |
0.4 |
0.3 |
0.2 |
0.3 |
0.4 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period
Average) |
0.626752 |
0.643394 |
0.627794 |
0.592803 |
0.498361 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
Annual Ratios
Financials in: USD (mil)
|
|
|
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.628108 |
0.62385 |
0.659239 |
0.697666 |
0.503145 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.50 |
1.46 |
1.34 |
1.70 |
2.09 |
|
Liquidity Ratio |
0.85 |
0.82 |
0.75 |
0.79 |
1.28 |
|
Equity Gearing |
35.73% |
35.42% |
29.45% |
44.78% |
55.61% |
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.