MIRA INFORM REPORT
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Report Date : |
02.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
STEEL MONT TRADING LTD |
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Registered Office : |
1st Floor Lakeside House, Shirwell Crescent Furzton Lake
Milton Keynes, MK4 1GA |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
04.08.2005 |
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Com. Reg. No.: |
05528338 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Wholesale trade, except of motor vehicle |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Moderate |
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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 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).
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Source : CIA |
Company name and address
STEEL MONT TRADING LTD
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1st Floor Lakeside House Shirwell Crescent Furzton Lake Milton Keynes, MK4 1GA
United Kingdom |
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Business Description
Wholesale trade, except of motor vehicle
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
423520 - Coal and Other Mineral and Ore 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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Name |
Title |
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Kasturi Saraiya |
Director |
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Rajesh Kumar Saraiya |
Company Director |
Financial Summary
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FYE: 31-Dec-2011 |
USD (mil) |
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Key Figures |
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Current Assets |
0.36 |
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Total Liabilities |
0.0000 |
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Net Worth |
0.36 |
Registered No.(UK): 05528338
1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1
2 - Balance Sheet Item Exchange Rate: USD
1 = USD 1
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ANZSIC 2006 Codes: |
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3322 |
- |
Metal and
Mineral Wholesaling |
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NACE 2002 Codes: |
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5152 |
- |
Wholesale
of metals and ores |
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NAICS 2002 Codes: |
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423520 |
- |
Coal and
Other Mineral and Ore Merchant Wholesalers |
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US SIC 1987: |
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505 |
- |
Metals
and Minerals, Except Petroleum |
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UK SIC 2003: |
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5152 |
- |
Wholesale
of metals and ores |
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UK SIC 2007: |
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4672 |
- |
Wholesale
of metals and metal ores |
Wholesale trade, except of motor vehicle
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Financials in: |
USD(mil) |
1 Year Growth |
|
Revenue: |
0.1 |
-57.5% |
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Net Income: |
0.0 |
NA |
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Assets: |
0.4 |
108.9% |
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Current Assets: |
0.4 |
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Long Term Debt: |
0.0 |
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Total Liabilities: |
0.0 |
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Issued Capital: |
0.0 |
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Working Capital: |
0.4 |
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Net Worth: |
0.4 |
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Date of Financial Data: |
31-Dec-2011 |
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Bank: |
Banque Cantonale Vaudoise |
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USD(mil) |
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Audit Fees: |
0.0 |
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Audit Fiscal Year: |
12-31-2011 |
Corporate Family
Corporate Structure News:
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Steel Mont Trading Ltd |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Stellmont Holding Ltd. |
Parent |
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Subsidiary |
Milton Keynes |
United Kingdom |
Miscellaneous Capital Goods |
0.1 |
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Subsidiary |
Wembley |
United Kingdom |
Personal Services |
14.5 |
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Board of Directors
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Director |
Director/Board Member |
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Company Director |
Director/Board Member |
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Executives
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Director |
Company Secretary |
Directors and Shareholders Report
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Main Office Address: |
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Annual
Return Date: 11 Jan 2013 |
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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 |
19 Jan 1969 |
1St Floor Lakeside House, Shirwell Crescent Furzton Lake, |
11 Jan 2013 |
NA |
Current:1 |
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Previous |
02 Apr 1970 |
43 Shenley Pavillions Chalkdell Drive, Shenley Wood, |
19 Feb 2010 |
11 Jan 2013 |
Current:0 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Mollyland Inc |
Previous |
Trident Chambers, Po Box 146, |
04 Aug 2005 |
19 Feb 2010 |
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M.S.M. Services Limited |
Previous |
Suite 13 First Floor Oliaji Trade Centre Frances,
Chalkwell Drive, |
19 Feb 2010 |
11 Jan 2013 |
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Tadco Directors Limited |
Previous |
6Th Floor Tsl Business Centre, 94-96 Wigmore Street, |
04 Aug 2005 |
04 Aug 2005 |
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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 |
1St Floor Lakeside House, Shirwell Crescent Furzton Lake, |
11 Jan 2013 |
NA |
Current:1 |
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Previous |
NA |
1St Floor Lakeside House, Shirwell Crescent Furzton Lake, |
19 Feb 2010 |
11 Jan 2013 |
Current:0 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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London Secretaries Limited |
Previous |
5Th Floor 86 Jermyn Street, |
04 Aug 2005 |
19 Feb 2010 |
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Tadco Secretarial Services Limited |
Previous |
6Th Wigmore Street, |
04 Aug 2005 |
04 Aug 2005 |
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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 |
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Steelmont Holding Limited |
2 Ordinary GBP 1.00 |
Ordinary |
2 |
1.00 |
2.00 |
100.00 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
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ANNUAL profit and loss
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
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|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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Filed Currency |
USD |
USD |
USD |
USD |
USD |
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Exchange Rate (Period
Average) |
1 |
1 |
1 |
1 |
1 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Turnover |
0.1 |
0.1 |
- |
- |
- |
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Depreciation |
0.0 |
0.0 |
- |
- |
- |
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Operating Profit |
0.1 |
0.1 |
- |
- |
- |
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Profit Before Taxes |
0.1 |
0.1 |
- |
- |
- |
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Profit After Taxes |
0.0 |
0.1 |
- |
- |
- |
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Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
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Consolidated |
No |
No |
No |
No |
No |
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Cash and Equivalents |
0.4 |
0.4 |
0.3 |
0.2 |
0.1 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
0.4 |
0.4 |
0.3 |
0.2 |
0.1 |
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Total Assets |
0.4 |
0.4 |
0.3 |
0.2 |
0.1 |
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Trade Creditors |
- |
- |
0.1 |
0.1 |
0.0 |
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Bank Overdraft |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Bank Loan Overdrafts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Short Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Current Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Working Capital |
0.4 |
0.3 |
0.3 |
0.1 |
0.1 |
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Total Long Term Loans |
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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Total Liabilities |
0.0 |
0.1 |
- |
- |
- |
|
Issued Capital |
0.0 |
- |
- |
- |
- |
|
Retained Earnings |
0.4 |
0.3 |
0.3 |
0.1 |
0.1 |
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Total Reserve |
0.4 |
0.3 |
0.3 |
0.1 |
0.1 |
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Total Shareholders Funds |
0.4 |
0.3 |
0.3 |
0.1 |
0.1 |
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Net Worth |
0.4 |
0.3 |
0.3 |
0.1 |
0.1 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate (Period
Average) |
1 |
1 |
1 |
1 |
1 |
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Consolidated |
No |
No |
No |
No |
No |
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Retained Profits |
0.0 |
0.1 |
- |
- |
- |
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Net Cash Flow From Operating Activities |
0.0 |
0.0 |
- |
- |
- |
|
Net Cash Flow from ROI and Servicing of Finance |
0.0 |
0.0 |
- |
- |
- |
|
Taxation |
0.0 |
0.0 |
- |
- |
- |
|
Paid Up Equity |
0.0 |
0.0 |
0.0 |
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 |
0.0 |
0.0 |
- |
- |
- |
|
Contingent Liability |
0.0 |
0.0 |
- |
- |
- |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
USD |
USD |
- |
- |
- |
|
Exchange Rate |
1 |
1 |
- |
- |
- |
|
Consolidated |
No |
No |
No |
No |
No |
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|
|
|
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Current Ratio |
- |
10.18 |
5.42 |
3.52 |
2.95 |
|
Solvency Ratio |
100.00% |
90.17% |
81.56% |
71.60% |
66.15% |
|
Return on Capital Employed |
- |
32.09% |
- |
- |
- |
|
Return on Assets |
14.24% |
28.93% |
- |
- |
- |
|
Current Debt Ratio |
- |
0.11 |
0.23 |
0.40 |
0.51 |
|
Return On Short Term Debt |
- |
294.45% |
- |
- |
- |
|
Long Term Debt Ratio |
- |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Debt Ratio |
- |
0.11 |
0.23 |
0.40 |
0.51 |
|
Debt Asset Ratio |
- |
9.83% |
18.44% |
28.40% |
33.85% |
|
Pretax Margin |
83.69% |
71.71% |
- |
- |
- |
|
Return on Shareholders Funds |
14.24% |
32.09% |
- |
- |
- |
|
Sales to Total Assets |
17.01% |
40.35% |
- |
- |
- |
|
Asset Turnover Ratio |
- |
0.45 |
- |
- |
- |
|
Post Tax Result to Net Worth |
10.47% |
23.09% |
- |
- |
- |
|
Post Tax Result to Total Assets |
10.47% |
20.82% |
- |
- |
- |
|
Post Tax Loss to Net Worth |
0.10 |
0.23 |
- |
- |
- |
|
Monthly Turnover |
0.0 |
0.0 |
- |
- |
- |
|
Financial Strength Ratio |
0.00 |
10.18 |
5.42 |
3.52 |
2.95 |
|
Reserve Movement |
11.69% |
30.03% |
93.15% |
103.83% |
51.62% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.22 |
|
|
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.70.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.