|
Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
MILLAROSE LTD
|
|
|
|
|
Formerly Known As : |
DRB GLOBAL LTD |
|
|
|
|
Registered Office : |
Field House High Street Leek Staffordshire St13 5dz ST13 7SY |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
15.11.2007 |
|
|
|
|
Com. Reg. No.: |
06428645 |
|
|
|
|
Legal Form : |
Private limited
with Share Capital |
|
|
|
|
Line of Business : |
Manufacture of other textiles |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 – 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
|
|
|||||
|
|
MILLAROSE LTD |
|
- |
|
|
|
FIELD HOUSE HIGH STREET |
Fax |
- |
|||
|
LEEK |
Website |
- |
|||
|
STAFFORDSHIRE ST13 5DZ |
|||||
|
ST13 7SY |
|||||
|
United Kingdom |
|||||
|
|
|||||
|
|
Company Number: Foundation: |
06428645 15/11/2007 |
Status: |
Active - Accounts Filed |
|
|
|
|||||
Registered Address :
Unit 1 Blythe Part Business Base Cresswell Lane Stoke On Trent St119rd
United Kingdom
|
|
Comments No exact match
CCJs are recorded against the company. The credit limit
on this company has
risen 71.4% in comparison to the previously
suggested credit limit.
Net Worth increased by 999.9% during
the latest trading
period. A 53.8%
growth in Total Assets occurred during the latest trading period. The movement in accumulated earnings would indicate that the company made a profit after tax and other appropriations, including dividends. The company saw a decrease in their Cash Balance of 99.4% during the latest trading period. There has been no significant change in the company’s credit rating. There is insufficient data to indicate a change in this companies percentage of sales. There is insufficient data to indicate a change in this companies pre-tax profit. The company is exempt from audit. No recent changes in directorship are recorded. The company is not part of a group. The company has changed its registered address recently. The company was established over 5 years ago. |
|
|
|
||
|
|
||
|
|
Legal form |
|
|
|
||
|
|
Foundation 15/11/2007 |
|
|
|
||
|
|
Company No. 06428645 |
|
|
|
||
|
|
Previous Names 14/01/2009 DRB
GLOBAL LTD 20/11/2008 TPI (UK)
LIMITED 27/03/2008 THE SLEEP COMPANY EUROPE LIMITED |
|
|
|
||
|
|
Shareholders Name
Currency Number of
shares Share type Nominal value DARYL JOHN BROOKES
GBP 50 ORDINARY 1 DIANE ROSAMUND BROOKES
GBP 50
ORDINARY 1 Total Share Capital GBP 100 |
|
|
|
||
|
|
Directors Name
Address: Date
of birth
Nationality Appointment date Ms Diane Rosamund Brookes Field House High Street, Leek,
Staffordshire ST13 5DZ 04/03/1959
British 11/03/2008 Mr Daryl John Brookes Field
House High Street, Leek,
Staffordshire ST13 5DZ 07/05/1967
British 11/03/2008 |
|
|
|
||
|
Company
Secretary |
||
|
Name |
Address: |
Appointment date |
|
Mr Daryl John Brookes |
Field House High Street, Leek, Staffordshire ST13 5DZ |
11/03/2008 |
|
|
||
|
|
Other Known Addresses Buxton Road, Leek, Staffordshire ST13 6EJ Millar House, Field House High Street, Butterton, Leek, Staffordshire ST13 7SY |
|
|
|
||
|
|
||
|
|
Turnover and Employees Date of Accounts Turnover Employees 30/09/2010 Not Stated Not Stated 30/09/2011 Not Stated Not Stated 30/09/2012 Not Stated Not Stated
|
|
Date Action
21/11/2008 Change in Reg.Office
|
|
21/11/2008 Change of Company Postcode 25/11/2008 Annual Returns 25/11/2008 Change of Name 14/01/2009 Change in Reg.Office 14/01/2009 Change of Company Postcode 19/01/2009 Change of Name 25/01/2009 New Accounts Filed 11/01/2010 Annual Returns 25/01/2010 New Accounts Filed 25/01/2010 New Accounts Filed 09/07/2010 Change in Reg.Office 09/07/2010 Change of Company Postcode 16/11/2010 Annual Returns 05/07/2011 New Accounts Filed 13/12/2011 Annual Returns 13/12/2011 Change in Reg.Office 13/12/2011 Change of Company Postcode 11/07/2012 New Accounts Filed 11/07/2012 New Accounts Filed 26/11/2012 Annual Returns 26/06/2013 New Accounts Filed |
|
|
|
||
|
|
Mortgages Mortgage type
DEBENTURE Charge created
23/05/2011 Charge registered
26/05/2011 Status
OUTSTANDING Entitled person
LLOYDS TSB BANK PLC Secured amount ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE Mortgage detail FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL
PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT AND MACHINERY SEE IMAGEFOR FULL DETAILS There are no County Court Judgments listed against this company |
|
|
|
52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
30/09/2009 52 GBP Group: No |
|
Turnover |
0 |
0 |
0 |
0 |
|
Wages And Salaries |
0 |
0 |
0 |
0 |
|
Depreciation |
9,804 |
7,017 |
4,402 |
2,049 |
|
Audit Fees |
0 |
0 |
0 |
0 |
|
Pre Tax Profit |
0 |
0 |
0 |
0 |
|
|
52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
30/09/2009 52 GBP Group: No |
|
Tangible Assets |
111,066 |
102,285 |
76,853 |
11,601 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
111,066 |
102,285 |
76,853 |
11,601 |
|
|
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
30/09/2009 52 GBP Group: No |
|
Stock |
0 |
0 |
0 |
0 |
|
Trade Debtors |
249,360 |
163,696 |
106,607 |
103,317 |
|
Cash |
22 |
3,885 |
0 |
7,742 |
|
Other Debtors |
124,727 |
45,633 |
0 |
17,608 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total Current Assets |
374,109 |
213,214 |
106,607 |
128,667 |
|
Trade Creditors |
279,308 |
160,662 |
167,160 |
77,084 |
|
Bank Loans and Overdraft |
0 |
0 |
0 |
0 |
|
Other Short Term Finance |
0 |
0 |
0 |
0 |
|
Miscellaneous Current Liabilities |
0 |
0 |
0 |
0 |
|
Total Current Liabilities |
279,308 |
160,662 |
167,160 |
77,084 |
|
Bank Loans and Overdrafts LTL |
132,806 |
153,200 |
3,200 |
2,550 |
|
Other Long Term Finance |
0 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
132,806 |
153,200 |
3,200 |
2,550 |
|
|
52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
30/09/2009 52 GBP Group: No |
|
Called Up Share Capital |
100 |
100 |
100 |
100 |
|
P and L Account Reserve |
72,961 |
1,537 |
13,000 |
60,534 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
73,061 |
1,637 |
13,100 |
60,634 |
|
|
52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
30/09/2009 52 GBP Group: No |
|
Net Worth |
73,061 |
1,637 |
13,100 |
60,634 |
|
Working Capital |
94,801 |
52,552 |
-60,553 |
51,583 |
|
Total Assets |
485,175 |
315,499 |
183,460 |
140,268 |
|
Total Liabilities |
412,114 |
313,862 |
170,360 |
79,634 |
|
Net Assets |
73,061 |
1,637 |
13,100 |
60,634 |
|
|
52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
30/09/2009 52 GBP Group: No |
|
Net Cash Flow from Operations |
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 |
-3,863 |
3,885 |
-7,742 |
7,742 |
|
|
52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
30/09/2009 52 GBP Group: No |
|
Capital Employed |
205,867 |
154,837 |
16,300 |
63,184 |
|
Pre Tax Profit Margin |
0.0% |
0.0% |
0.0% |
0.0% |
|
Current Ration |
1.34 |
1.33 |
0.64 |
1.67 |
|
Sales or Net Working Capital |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gearing |
181.77 % |
9358.58 % |
24.43 % |
4.21 % |
|
Equity |
15.06 % |
0.52 % |
7.14 % |
43.23 % |
|
Creditor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Debtor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liquidity or Acid test |
1.33 |
1.32 |
0.63 |
1.66 |
|
Return on Capital Employed |
0.0% |
0.0% |
0.0% |
0.0% |
|
Return on Total Assets Employed |
0.0% |
0.0% |
0.0% |
0.0% |
|
Current Debt Ratio |
3.82 % |
98.14 % |
12.76 % |
1.27 % |
|
Total Debt Ratio |
5.64 % |
191.72 % |
13.00 % |
1.31 % |
|
Stock Turnover Ratio |
0.0% |
0.0% |
0.0% |
0.0% |
|
Return on Net Assets Employed |
0.0% |
0.0% |
0.0% |
0.0% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.78 |
|
|
1 |
Rs.99.06 |
|
Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.