MIRA INFORM REPORT

 

 

Report Date :

16.12.2013

 

IDENTIFICATION DETAILS

 

Name :

MARVEL X LIMITED

 

 

Registered Office :

3 Stevenson Road, Swindon, Wiltshire SN251TE

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

15.11.2004

 

 

Com. Reg. No.:

05286104

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Non-Specialised Wholesale Trade

 

 

No. of Employees :

3

 

 

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

Company identification

 

MARVEL X LIMITED

3 STEVENSON ROAD

SWINDON

WILTSHIRE

SN251TE United Kingdom

Telephone         +44 017 9357 4505

Fax                   --

Website            --

 

Company Number:

05286104

Status:

Active - Accounts Filed

Foundation:

15/11/2004

VAT:

GB946701020

 

 

Comments      

 

In Total Assets occurred during the latest trading period. The movement in accumulated earnings would indicate that the company made a profit after tax and other appropriations, including dividends.

The company saw a decrease in their Cash Balance of 25.6% during the latest trading period.

There has been no significant change in the company's credit rating. There is insufficient data to indicate a change in this companies percentage of sales. There is insufficient data to indicate a change in this companies pre-tax profit. The company is exempt from audit. No recent changes in directorship are recorded. The company is not part of a group. The company was established over 9 years ago

 

Basic information Legal form

Private limited with Share Capital

 

Foundation

15/11/2004

 

Company No.

05286104

 

 

Shareholders

 

Name

Currency

Number of shares

Share type

Nominal value

ANURAG CHATURVEDI

GBP

5

ORDINARY

1

SONA CHATURVEDI

GBP

5

ORDINARY A

1

Total Share Capital     GBP 10

 

 

Management

 

Directors

Name

Address:

Date of birth

Nationality

Appointment date

Sona Chaturvedi

3 Stevenson Road, Swindon, Wiltshire SN25 1TE

02/07/1971

British

11/03/2005

Mr Anurag Chaturvedi

3 Stevenson Road, Swindon, Wiltshire SN25 1TE

08/12/1969

British

03/08/2010

 

Company Secretary

Name

Address:

Appointment date

Sona Chaturvedi

3 Stevenson Road, Swindon, Wiltshire SN25 1TE

11/03/2005

 

 

Other Known Addresses

 

3 Stevenson Road, Swindon, Wiltshire SN25 1TE

 

 

Business activities

 

Main activity

SIC03

Other wholesale

 

 

SIC07

Non-specialised wholesale trade

 

 

Economic data

 

Turnover and Employees

 

 

31/03/2011

 

31/03/2012

 

31/03/2013

 

 

 

Supplementary data

 

Events

Company history

                                                 

Date

Action

 

09/12/2008

Annual Returns

 

24/03/2009

New Board Member Mr A. Chaturvedi appointed

 

 

01/02/2010

Annual Returns

 

18/02/2010

New Accounts Filed

 

25/05/2010

New Accounts Filed

 

04/11/2010

Mr J. Paliwal has left the board

 

03/12/2010

Annual Returns

 

25/11/2011

New Accounts Filed

 

02/12/2011

Annual Returns

 

17/10/2012

New Accounts Filed

 

17/10/2012

New Accounts Filed

 

12/11/2012

Annual Returns

 

23/11/2013

Annual Returns

28/11/2013

New Accounts Filed

 

 

 

Mortgages

 

Charge created

24/10/2013

 

Charge registered

29/10/2013

 

 

Status

OUTSTANDING

 

Entitled person

BARCLAYS BANK PLC;

Mortgage detail

CONTAINS  FIXED   CHARGE.CONTAINS   FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COM- PANY.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.

 

 

 

 

 

County Court Judgments (CCJs)

There are no County Court Judgments listed against this company

 

 

Accounts

 

Profit & Loss

 

 

31/03/2013

31/03/2012

31/03/2011

31/03/2010

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: No

Group: No

Group: No

Group: No

Turnover

0

0

0

0

Export

-

-

-

-

Cost of Sales

-

-

-

-

Gross Profit

-

-

-

-

Wages And Salaries

0

0

0

0

Directors Emoluments

-

-

-

-

Operating Profit

-

-

-

-

Depreciation

1,560

1,570

1,388

225

Audit Fees

0

0

0

0

Interests Payments

-

-

-

-

Pre Tax Profit

0

0

0

0

Taxation

-

-

-

-

Profit After Tax

-

-

-

-

Dividends Payable

-

-

-

-

Retained Profit

-

-

-

-

 

 

Balance Sheet

 

 

31/03/2013

31/03/2012

31/03/2011

31/03/2010

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: No

Group: No

Group: No

Group: No

Tangible Assets

665

1,555

2,593

456

Intangible Assets

0

0

0

0

Total Fixed Assets

665

1,555

2,593

456

Stock

295,018

154,790

143,112

34,604

Trade Debtors

239,589

157,619

143,860

200,203

Cash

56,006

75,292

13,501

31,834

Other Debtors

0

0

0

0

Miscellaneous Current Assets

0

0

0

0

Total Current Assets

590,613

387,701

300,473

266,641

Trade Creditors

344,560

293,904

265,473

240,325

Bank Loans and Overdraft

0

0

0

0

Other Short Term Finance

0

0

0

0

Miscellaneous Current Liabilities

0

0

0

0

Total Current Liabilities

344,560

293,904

265,473

240,325

Bank Loans and Overdrafts LTL

0

0

0

0

Other Long Term Finance

0

0

0

0

Total Long Term Liabilities

0

0

0

0

Capital & reserves

 

 

31/03/2013

52

GBP

Group: No

31/03/2012

52

GBP

Group: No

31/03/2011

52

GBP

Group: No

31/03/2010

52

GBP

Group: No

Called Up Share Capital

10

10

10

10

P and L Account Reserve

246,708

95,342

37,583

26,762

Revaluation Reserve

0

0

0

0

Sundry Reserves

0

0

0

0

Shareholders Funds

246,718

95,352

37,593

26,772

 

 

Other Financial Items

 

 

31/03/2013

52

GBP

Group: No

31/03/2012

52

GBP

Group: No

31/03/2011

52

GBP

Group: No

31/03/2010

52

GBP

Group: No

Net Worth

246,718

95,352

37,593

26,772

Working Capital

246,053

93,797

35,000

26,316

Total Assets

591,278

389,256

303,066

267,097

 

 

31/03/2013

52

GBP

Group: No

31/03/2012

52

GBP

Group: No

31/03/2011

52

GBP

Group: No

31/03/2010

52

GBP

Group: No

Total Liabilities

344,560

293,904

265,473

240,325

Net Assets

246,718

95,352

37,593

26,772

 

 

Cash Flow

 

 

31/03/2013

31/03/2012

31/03/2011

31/03/2010

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: No

Group: No

Group: No

Group: No

Net Cash Flow from Operations

0

0

0

0

Net Cash Flow before Financing

0

0

0

0

Net Cash Flow from Financing

0

0

0

0

Increase in Cash

-19,286

61,791

-18,333

31,834

 

 

Miscellaneous

 

 

31/03/2013

31/03/2012

31/03/2011

31/03/2010

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: No

Group: No

Group: No

Group: No

Capital Employed

246,718

95,352

37,593

26,772

 

 

Financial Ratios

 

 

 

31/03/2012

31/03/2011

31/03/2010

Pre Tax Profit Margin

0.0%

0.0%

0.0%

0.0%

Current Ration

1.71

1.32

1.13

1.11

Sales or Networking Capital

0.00

0.00

0.00

0.00

Gearing

0.00 %

0.00 %

0.00 %

0.00 %

Equity

41.73%

24.50 %

12.40%

10.02%

Creditor Days

0.00

0.00

0.00

0.00

Debtor Days

0.00

0.00

0.00

0.00

Liquidity or Acid test

0.85

0.79

0.59

0.96

Return on Capital Employed

0.0%

0.0%

0.0%

0.0%

Return on Total Assets Employed

0.0%

0.0%

0.0%

0.0%

Current Debt Ratio

1.39%

3.08 %

7.06 %

8.97 %

Total Debt Ratio

1.39%

3.08 %

7.06 %

8.97 %

Stock Turnover Ratio

0.0%

0.0%

0.0%

0.0%

Return on Net Assets Employed

0.0%

0.0%

0.0%

0.0%

 

 

Remarks

 

Only abbreviated financial statement has been filed. In 2012/2013 Post Appropriation Profit amounted to GBP 151,366 (2011/2012 Profit GBP 57,759). The general financial position seems to be in order and good reserves are being built up. Should continue to trade well for the foreseeable future.

Activity:                         Home Textiles

Trading Address:            Unit 15 Kembrey Trade Centre, Aspen Close, Swindon SN2 8AJ

Branches:                     USA

Employees:                   3

Bank:                            Barclays Bank PLC

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.12

UK Pound

1

Rs.101.53

Euro

1

Rs.85.41

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.