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Report Date : |
13.07.2013 |
IDENTIFICATION DETAILS
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Name : |
MRJ LTD. |
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Registered Office : |
2 Gayton Road Harrow, HA1 2XU |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
03.10.1953 |
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Com. Reg. No.: |
00524298 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Other Miscellaneous Durable Goods Merchant Wholesalers |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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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 |
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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
Mrj Ltd.
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Business
Description
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Importers and wholesalers. |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
423990 - Other Miscellaneous Durable Goods Merchant
Wholesalers |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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Financial
Summary
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1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.6311738
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6190609
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Mrj Ltd. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Bushey |
United Kingdom |
Miscellaneous Capital Goods |
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Subsidiary |
Bushey |
United Kingdom |
Nonclassifiable Industries |
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Subsidiary |
Harrow |
United Kingdom |
Miscellaneous Capital Goods |
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2 |
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Subsidiary |
Bushey |
United Kingdom |
Nonclassifiable Industries |
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Subsidiary |
Bushey |
United Kingdom |
Nonclassifiable Industries |
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Subsidiary |
Bushey |
United Kingdom |
Nonclassifiable Industries |
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Subsidiary |
Bushey |
United Kingdom |
Nonclassifiable Industries |
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Executives Report
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Annual Return Date: 18 Jul 2012
Total Issued Capital (GBP 000): 264
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
27 Jan 1973 |
14 Cross Road, |
02 Apr 2003 |
NA |
Current:7 |
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Current |
29 Jul 1938 |
37 Grange Road, Bushey, |
23 Jun 1991 |
NA |
Current:8 |
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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 |
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Current |
NA |
37 Grange Road, Bushey, |
23 Jun 1991 |
NA |
Current:7 |
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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 |
|
J J Sarosh |
1 Ordinary GBP 0.10 |
Ordinary |
1 |
0.10 |
0.10 |
<0.01 |
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Corporate Shareholders |
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Company Name |
Registration Number |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
01359668 |
240000 Deferred GBP 1.00 |
Deferred |
240,000 |
1.00 |
240,000.00 |
50.00 |
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01359668 |
239999 Ordinary GBP 0.10 |
Ordinary |
239,999 |
0.10 |
23,999.90 |
50.00 |
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01359668 |
1 Ordinary GBP 0.10 |
Ordinary |
1 |
0.10 |
0.10 |
<0.01 |
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Financials in: USD (mil) |
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Except for share items (millions) and per
share items (actual units) |
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.631174 |
0.623776 |
0.647573 |
0.641508 |
0.545576 |
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Consolidated |
No |
No |
No |
No |
No |
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Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.619061 |
0.643459 |
0.638712 |
0.619253 |
0.695531 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Investments |
0.3 |
0.2 |
0.2 |
0.3 |
0.2 |
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Total Fixed Assets |
0.3 |
0.2 |
0.3 |
0.3 |
0.2 |
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Total Stocks Work In Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Debtors |
0.4 |
0.5 |
0.5 |
0.5 |
0.6 |
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Cash and Equivalents |
0.1 |
0.2 |
0.3 |
0.4 |
0.4 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
0.5 |
0.7 |
0.9 |
1.0 |
1.0 |
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Total Assets |
0.8 |
0.9 |
1.1 |
1.2 |
1.2 |
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Other Current Liabilities |
0.3 |
0.4 |
0.5 |
0.5 |
0.6 |
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Total Current Liabilities |
0.3 |
0.4 |
0.5 |
0.5 |
0.6 |
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Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Issued Capital |
0.4 |
0.4 |
0.4 |
0.4 |
0.4 |
|
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 |
0.0 |
0.1 |
0.2 |
0.3 |
0.3 |
|
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 |
0.5 |
0.6 |
0.7 |
0.6 |
|
Net Worth |
0.4 |
0.5 |
0.6 |
0.7 |
0.6 |
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Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.631174 |
0.623776 |
0.647573 |
0.641508 |
0.545576 |
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Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
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Annual Ratios |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.619061 |
0.643459 |
0.638712 |
0.619253 |
0.695531 |
|
Consolidated |
No |
No |
No |
No |
No |
|
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|
|
|
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|
|
Current Ratio |
1.54 |
1.63 |
1.81 |
1.86 |
1.70 |
|
Liquidity Ratio |
1.49 |
1.56 |
1.71 |
1.83 |
1.62 |
|
Equity Gearing |
56.08% |
55.10% |
57.30% |
57.66% |
52.48% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.89 |
|
|
1 |
Rs.90.88 |
|
Euro |
1 |
Rs.78.32 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.