MIRA INFORM REPORT

 

 

Report Date :

28.02.2013

 

IDENTIFICATION DETAILS

 

Name :

AROMATIC INGREDIENTS LIMITED 

 

 

Registered Office :

52 Parkway, Welwyn Garden City, Herts, Al8 6hh

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.04.2012

 

 

Date of Incorporation :

21.09.2001

 

 

Com. Reg. No.:

04291498

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Cargo handling, agents in particular products.

 

 

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 – June 30th, 2012

                                                   

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

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 third largest economy in Europe after Germany and France. 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 aims 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 23% by 2015. The Bank of England (BoE) implemented an asset purchase program of up to £325 billion (approximately $525 billion) as of February 2011. 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).

 

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Name

AROMATIC INGREDIENTS LIMITED

Company Number

04291498

Registered Address

52 PARKWAY

Trading Address

52 Parkway
Welwyn Garden City
Hertfordshire
AL8 6HH

 

WELWYN GARDEN CITY

 

 

HERTS

 

 

AL8 6HH

 

 

 

 

 

Website Address

-

Operating Address

10 The Midway(Nest To Butt Foods) Lenton Lane Industrial Estate Nottingham Ng7 2ts, United Kingdom

Telephone Number

02077545953

Fax Number

 

TPS

Yes

FPS

No

Incorporation Date

21/09/2001

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private limited with Share Capital

Date of Change

-

Filing Date of Accounts

24/08/2012

 

 

Share Capital

£101

SIC03

5118

Currency

GBP

SIC03 Description

AGENTS IN PARTICULAR PRODUCTS

SIC07

46180

SIC07 Description

AGENTS SPECIALIZED IN THE SALE OF OTHER PARTICULAR PRODUCTS

Principal Activity

Cargo handling, agents in particular products.

 

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

4

 

Current Directors

Name

Martin Charles Edney

Date of Birth

21/01/1943

Officers Title

Mr

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

17/04/2004

 

 

Address

22 Folly Close, Radlett, Herts, WD7 8DR

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Laura Jane Mellor

Date of Birth

19/10/1965

Officers Title

Ms

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

03/05/2004

 

 

Address

33 Melton Road, Tollerton, Nottinghamshire, NG12 4EL

NEGATIVE INFORMATION

 

CCJ

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

 

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

 

Total Number of Satisfied CCJs -

0

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

0

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Value

Share Type

Nominal Value

% of Total Share Count

MR MARTIN CHARLES EDNEY

GBP

89

ORDINARY A

1

88.12

MISS LAURA JANE MELLOR

GBP

10

ORDINARY A

1

9.9

MISS LAURA JANE MELLOR

GBP

1

ORDINARY C

1

0.99

MR MARTIN CHARLES EDNEY

GBP

1

ORDINARY B

1

0.99

 

 

PAYMENT INFORMATION

 

Payment Information Summary

Days Beyond Terms

Trend Indicator

 

N/A

10

Company DBT

UK Average DBT

Steady

Improving Worsening

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

-                                                                                    

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

 

Group structure

No group structure

 

FINANCIAL INFORMATION

 

Key Financials

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

30/04/2012

-

-

£946,723

-

30/04/2011

-

-

£663,102

-

30/04/2010

-

-

£457,186

-

 

Profit & Loss

 

Date Of Accounts

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

28/02/09

(%)

29/02/08

 

Weeks

52

(%)

52

(%)

61

(%)

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

£957

24.6%

£768

380%

£160

-75.6%

£657

34.1%

£490

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

Balance Sheet

 

Date Of Accounts

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

28/02/09

(%)

29/02/08

Tangible Assets

£2,900

-0.4%

£2,912

-20.9%

£3,680

-

0

-100%

£657

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£2,900

-0.4%

£2,912

-20.9%

£3,680

-

0

-100%

£657

Stock

£605,514

4.8%

£577,757

26.4%

£457,003

39.6%

£327,263

37.7%

£237,616

Trade Debtors

£327,911

0.3%

£326,860

1.8%

£321,031

113%

£150,732

24.6%

£120,948

Cash

£468,210

29.8%

£360,592

132.7%

£154,938

16.1%

£133,468

43.7%

£92,861

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£1,401,635

10.8%

£1,265,209

35.6%

£932,972

52.6%

£611,463

35.5%

£451,425

Trade Creditors

£457,812

-24.3%

£605,019

26.2%

£479,466

67.2%

£286,832

28.5%

£223,280

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

£457,812

-24.3%

£605,019

26.2%

£479,466

67.2%

£286,832

28.5%

£223,280

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

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

28/02/09

(%)

29/02/08

Called Up Share Capital

£101

-

£101

-

£101

-

£101

-

£101

P & L Account Reserve

£946,622

42.8%

£663,001

45%

£457,085

40.8%

£324,530

41.9%

£228,701

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£946,723

42.8%

£663,102

45%

£457,186

40.8%

£324,631

41.9%

£228,802

 

Other Financial Items

 

Date Of Accounts

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

28/02/09

(%)

29/02/08

Net Worth

£946,723

42.8%

£663,102

45%

£457,186

40.8%

£324,631

41.9%

£228,802

Working Capital

£943,823

43%

£660,190

45.6%

£453,506

39.7%

£324,631

42.3%

£228,145

Total Assets

£1,404,535

10.8%

£1,268,121

35.4%

£936,652

53.2%

£611,463

35.3%

£452,082

 

Total Liabilities

£457,812

-24.3%

£605,019

26.2%

£479,466

67.2%

£286,832

28.5%

£223,280

Net Assets

£946,723

42.8%

£663,102

45%

£457,186

40.8%

£324,631

41.9%

£228,802

 

Miscellaneous

 

Date Of Accounts

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

28/02/09

(%)

29/02/08

 

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£946,723

42.8%

£663,102

45%

£457,186

40.8%

£324,631

41.9%

£228,802

Number of Employees

-

-

-

-

-

-

-

-

-

 

Auditors

 

 

Auditor Comments

The company is exempt from audit

 

Bankers

 

 

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

30/04/12

30/04/11

30/04/10

28/02/09

29/02/08

Pre-tax profit margin %

-

-

-

-

-

Current ratio

3.06

2.09

1.95

2.13

2.02

Sales/Net Working Capital

-

-

-

-

-

Gearing %

0

0

0

0

0

Equity in %

67.40

52.30

48.80

53.10

50.60

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

1.73

1.13

0.99

0.99

0.96

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

0.48

0.91

1.04

0.88

0.97

Total Debt Ratio

0.48

0.91

1.04

0.88

0.97

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 100% 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 42.8% during the latest trading period.

A 10.8% growth 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 an increase in their Cash Balance of 29.8% 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 positive change in the P&L Account Reserve suggests that the company made a profit after tax and other appropriations.

The company was established over 11 years ago.

 

Current Company Secretary

Name

Laura Jane Mellor

Date of Birth

19/10/1965

Officers Title

Ms

Nationality

British

Present Appointments

5

Function

Company Secretary

Appointment Date

04/05/2004

 

 

Address

33 Melton Road, Tollerton, Nottinghamshire, NG12 4EL

Other Actions

 

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Status History

No Status History found

 

Event History

Date

Description

05/10/2012

Annual Returns

04/09/2012

New Accounts Filed

28/09/2011

Annual Returns

28/09/2011

New Accounts Filed

28/09/2010

New Accounts Filed

25/09/2010

Annual Returns

25/09/2009

Annual Returns

01/07/2009

New Accounts Filed

27/09/2008

Annual Returns

20/06/2008

New Accounts Filed

02/01/2008

Change in Reg.Office

02/01/2008

Change of Company Postcode

20/07/2007

New Accounts Filed

09/08/2006

New Accounts Filed

21/10/2005

New Accounts Filed

 

Previous Company Names

No Previous Names found

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.84

UK Pound

1

Rs.81.24

Euro

1

Rs.70.39

 

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%)

 

 

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.