MIRA
INFORM REPORT
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Report Date : |
30.11.2013 |
IDENTIFICATION DETAILS
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Name : |
EXCEPTIO LTD.
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Registered Office : |
Station Lane, Asfordby,
Melton Mowbray, LE14 3SL |
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Country : |
United Kingdom |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
26.06.2007 |
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Com. Reg. No.: |
06292874 |
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Legal Form : |
Private
Independent |
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Line of Business : |
·
manufacturer
of hosiery, including socks, tights and pantihose ·
manufacturer
of footwear of textile materials without applied soles. |
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No. of Employees : |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 6000 |
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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 – September 30th, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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.
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Source : CIA |
Company
name & address
Exceptio Ltd.
Station Lane
Asfordby
Melton Mowbray,
LE14 3SL
United Kingdom
Tel: 01664813077
Web: www.exceptio.co.uk
synthesis
Employees: 5
Company Type: Private
Independent
Quoted Status: Non-quoted
Company
Incorporation
Date: 26-Jun-2007
Financials in: usd (Millions)
Fiscal Year End:
30-Jun-2012
Reporting Currency:
British Pound Sterling
Annual Sales:
NA
Total Assets:
0.8
Credit Limit : USD 6000
Business
Description
Exceptio Ltd. is
primarily engaged in the manufacture of hosiery, including socks, tights and
pantihose. This class also includes: manufacture of footwear of textile
materials without applied soles.
Industry
Industry
Clothing and Apparel Manufacturing
ANZSIC 2006: 1340 - Knitted Product Manufacturing
ISIC Rev 4: 1430 - Manufacture of knitted and
crocheted apparel
NACE Rev 2: 1431 - Manufacture of knitted and
crocheted hosiery
NAICS 2012: 3151 - Apparel Knitting Mills
UK SIC 2007: 1431 - Manufacture of knitted and crocheted
hosiery
US SIC 1987: 2252 - Hosiery, Not Elsewhere Classified
Key
Executives
Name Title
Robert Horsley Director, Secretary
Financial Summary
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1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.6313531
2 - Balance Sheet
Item Exchange Rate: USD 1 = GBP 0.6452901
Corporate
Overview
Location
Station Lane
Asfordby
Melton Mowbray,
LE14 3SL
Leicestershire
County
United Kingdom
Tel: 01664813077
Web: www.exceptio.co.uk
Sales GBP(mil): NA
Assets GBP(mil): 0.5
Employees: 5
Fiscal Year End: 30-Jun-2012
Industry: Apparel and Accessories
Registered
Address:
Station Lane
Asfordby
Melton Mowbray,
LE14 3SL
United Kingdom
Incorporation
Date: 26-Jun-2007
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered
No.(UK): 06292874
Director, Secretary: Robert
Horsley
Industry Codes
ANZSIC 2006
Codes:
1340 - Knitted Product Manufacturing
ISIC Rev 4 Codes:
1430 - Manufacture of knitted and crocheted
apparel
NACE Rev 2 Codes:
1431 - Manufacture of knitted and crocheted
hosiery
NAICS 2012 Codes:
3151 - Apparel Knitting Mills
US SIC 1987:
2252 - Hosiery, Not Elsewhere Classified
UK SIC 2007:
1431 - Manufacture of knitted and crocheted
hosiery
Business Description
Exceptio Ltd. is primarily engaged in the
manufacture of hosiery, including socks, tights and pantihose. This class also
includes: manufacture of footwear of textile materials without applied soles.
More Business Descriptions
Hosiery
Manufacturers and Wholesale
Since conception
Exceptio has been committed to producing quality knitted socks. Indeed it is
our core purpose to push the boundaries of sock design and innovation and we
are proud to supply a superior product, at the most competitive price possible,
to a widely diverse client base. This achievement, a direct result of our hands-on
approach and control of the entire manufacturing process, has at its foundation
our licensed high tech fibres, original designs and global partners. Combining
our understanding of fashion, commerciality and extensive manufacturing
techniques our abilities focus on Brand and Contract design capabilities
Technological fibre & yarn developments Utilisation of the latest design
software Understanding commercial market needs Trend forecasting High
specification packaging design
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Executive report
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Board of
Directors |
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Director, Secretary |
Director/Board Member |
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Executives |
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Director, Secretary |
Company Secretary |
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Directors and Shareholders Report
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Main Office Address: |
Tel: 01664813077 |
Annual Return
Date: 26 Jun 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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Robert |
Current |
02 Mar 1967 |
Station Lane, Asfordby, |
24 Jan 2008 |
NA |
Current:2 |
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Volcan |
Previous |
01 Jan 1966 |
75 Yil Cad. 29/L Hadimkoy, |
01 Jul 2007 |
24 Jan 2008 |
Current:0 |
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Mikiel |
Previous |
10 Jan 1957 |
76 Oakington Avenue, |
01 Jul 2007 |
24 Jan 2008 |
Current:3 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Form 10 Directors Fd Limited |
Previous |
39A Leicester Road, Salford, |
26 Jun 2007 |
26 Jun 2007 |
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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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Robert |
Current |
NA |
Station Lane, Asfordby, |
30 Jul 2013 |
NA |
Current:1 |
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Mikiel |
Previous |
10 Jan 1957 |
76 Oakington Avenue, |
01 Jul 2007 |
30 Jul 2013 |
Current:3 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Form 10 Secretaries Fd Limited |
Previous |
1St Floor 47, Bury New Road Prestwich, |
26 Jun 2007 |
26 Jun 2007 |
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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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Robert Horsley |
100 Ordinary GBP 1.00 |
Ordinary |
100 |
1.00 |
100.00 |
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 & loss
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
53 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate
(Period Average) |
0.631353 |
0.629106 |
0.633607 |
0.627423 |
0.499214 |
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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 |
Annual Balance Sheet
Financials in: USD (mil)
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|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate |
0.64529 |
0.622878 |
0.668405 |
0.60722 |
0.502475 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.5 |
0.6 |
0.6 |
0.0 |
0.0 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
0.5 |
0.6 |
0.6 |
0.0 |
0.0 |
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Total Stocks Work In Progress |
0.1 |
0.1 |
0.1 |
0.0 |
0.3 |
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Inter-Company Debtors |
- |
0.0 |
- |
- |
- |
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Director Loans |
- |
0.0 |
- |
- |
- |
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Other Debtors |
- |
0.3 |
- |
- |
- |
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Total Debtors |
0.2 |
0.3 |
0.2 |
0.2 |
0.1 |
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Cash and Equivalents |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
0.3 |
0.5 |
0.3 |
0.2 |
0.3 |
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Total Assets |
0.8 |
1.1 |
0.9 |
0.3 |
0.4 |
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Director Loans (Current Liability) |
- |
- |
0.1 |
- |
- |
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Other Current Liabilities |
0.5 |
0.7 |
0.7 |
0.2 |
0.4 |
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Total Current Liabilities |
0.5 |
0.7 |
0.7 |
0.2 |
0.4 |
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Group Loans (Long Term Liability) |
- |
- |
0.0 |
- |
- |
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Director Loans (Long Term Liability) |
- |
- |
0.0 |
- |
- |
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Hire Purchase (Long Term Liability) |
- |
- |
0.0 |
- |
- |
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Leasing (Long Term Liability) |
- |
- |
0.0 |
- |
- |
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Total Hire Purchase Loans (Long Term Liability) |
- |
- |
0.0 |
- |
- |
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Other Long Term Loans |
- |
- |
0.0 |
- |
- |
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Accruals/Deferred Income (Long Term Liability) |
- |
- |
0.0 |
- |
- |
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Other Long Term Liabilities |
0.2 |
0.2 |
0.0 |
0.0 |
0.0 |
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Total Long Term Liabilities |
0.2 |
0.2 |
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 |
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Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Issued Capital |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Retained Earnings |
0.1 |
0.2 |
0.1 |
0.0 |
0.0 |
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Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Shareholders Funds |
0.1 |
0.2 |
0.1 |
0.0 |
0.0 |
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Net Worth |
0.1 |
0.2 |
0.1 |
0.0 |
0.0 |
Annual Cash Flows
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|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
53 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.631353 |
0.629106 |
0.633607 |
0.627423 |
0.499214 |
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Consolidated |
No |
No |
No |
No |
No |
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Annual Ratios
Financials in: USD (mil)
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|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
53 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.64529 |
0.622878 |
0.668405 |
0.60722 |
0.502475 |
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Consolidated |
No |
No |
No |
No |
No |
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Current Ratio |
0.59 |
0.79 |
0.40 |
1.12 |
0.90 |
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Liquidity Ratio |
0.43 |
0.68 |
0.32 |
1.05 |
0.20 |
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Borrowing Ratio |
- |
- |
5,224.00% |
- |
- |
|
Equity Gearing |
1,488.00% |
1,843.00% |
1,534.00% |
1,507.00% |
-609.00% |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
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UK Pound |
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.98 |
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 |
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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 |
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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 |
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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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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.