MIRA INFORM REPORT

 

 

Report Date :

06.06.2013

 

IDENTIFICATION DETAILS

 

Name :

ABARTECH LIMITED

 

 

Registered Office :

62 Meliden Road Prestatyn Denbighshire LL19 9SE

 

 

Country :

United Kingdom

 

 

Date of Incorporation :

13.03.2012

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Manufacture of Other Special-Purpose Machinery

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

New Business

 

--

 

Status :

New Business

Payment Behaviour :

Unknown

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 and address Top of Form

 

Company Name

ABARTECH LIMITED

Company Number

07988946

 

 

 

 

Registered Address

62 MELIDEN ROAD

Trading Address

62 Meliden Road
Prestatyn
Clwyd
LL19 9SE

 

PRESTATYN

 

 

DENBIGHSHIRE

 

 

LL19 9SE

 

 

 

 

 

Website Address

-

 

 

Telephone Number

-

Fax Number

 

TPS

-

FPS

No

Incorporation Date

13/03/2012

Company Status

Active - Newly Incorporated

Previous Name

 

Type

Private limited with Share Capital

Date of Change

-

Filing Date of Accounts

-

 

 

Share Capital

£100

SIC03

2956

Currency

GBP

SIC03 Description

Manufacture other special purpose machine

SIC07

28990

SIC07 Description

MANUFACTURE OF OTHER SPECIAL-PURPOSE MACHINERY N.E.C.

Principal Activity

 

Accounts Due Date 31/12/2013

Commentary

No exact match CCJs are recorded against the company.

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_up.gif

The company has undergone recent changes in its directorships.

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_nochange.gif

The company is not part of a group.

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_nochange.gif

Newer companies are proven to be more of an insolvency risk than more established companies.

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_nochange.gif

The company was established over 12 months ago.

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_nochange.gif

 

Key Financials

No key Financials Registered

 

Payment Information Summary

Days Beyond Terms

Trend Indicator

 

 

N/A

11

Company DBT

UK Average DBT

Steady

  

Improving Worsening

 

 

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

Total Current Directors

2

 

Total Current Secretaries

1

 

Total Previous Directors / Company Secretaries

0

 

 

Current Directors

 

Name

Michelle Tracey Cragg

Date of Birth

14/02/1963

Officers Title

Mrs

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

13/03/2012

 

 

Address

62 Meliden Road, Prestatyn, Denbighshire, LL19 9SE

Other Actions

View Director Report

View Consumer Report

 

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Mark Simon Cragg

Date of Birth

19/12/1961

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

13/03/2012

 

 

Address

62 Meliden Road, Prestatyn, Denbighshire, LL19 9SE

Other Actions

View Director Report

View Consumer Report

 

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

 

Current Company Secretary

 

Name

Mercedes Tracey Cragg

Date of Birth

-

Officers Title

Miss

Nationality

 

Present Appointments

1

Function

Company Secretary

Appointment Date

13/03/2012

 

 

Address

62 Meliden Road, Prestatyn, Denbighshire, LL19 9SE

Other Actions

 

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

MARK SIMON CRAGG

GBP

37

ORDINARY A

1

37

MICHELLE TRACEY CRAGG

GBP

37

ORDINARY C1

1

37

MARK SIMON CRAGG

GBP

6

ORDINARY D

1

6

MARK SIMON CRAGG

GBP

6

ORDINARY C2

1

6

MICHELLE TRACEY CRAGG

GBP

6

ORDINARY D

1

6

MICHELLE TRACEY CRAGG

GBP

6

ORDINARY C2

1

6

MARK SIMON CRAGG

GBP

1

ORDINARY

1

1

MICHELLE TRACEY CRAGG

GBP

1

ORDINARY

1

1

 

Status History

No Status History found

 

Event History

Date

Description

21/05/2013

New Board Member Mr M.S. Cragg appointed

03/04/2013

Annual Returns

15/03/2012

New Company Secretary Miss M.T. Cragg appointed

15/03/2012

New Board Member Mr M.S. Cragg appointed

15/03/2012

New Board Member Mrs M.T. Cragg appointed

 

Previous Company Names

No Previous Names found

 

Group structure

No group structure

 

Statistics

Group

0 companies

Linkages

0 companies

Countries

In 0 countries

 

Exact CCJ Details

No CCJs found

 

Possible CCJs Details

There are no possible CCJ details

 

Writ Details

No writs found

 

Mortgage Details

 

Creditor Details

No Creditor Data

Total Value

-

 

Trade Debtors / Bad Debt Detail

No Debtor Data

Total Value

-

 

Previous Director/Company Secretaries

No Previous Director Details

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.42

UK Pound

1

Rs.86.54

Euro

1

Rs.73.86

 

 

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%)

 

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.