MIRA INFORM REPORT

 

 

Report Date :

23.10.2013

 

IDENTIFICATION DETAILS

 

Name :

ARTESIAN CAPITAL MANAGEMENT (UK) LLP

 

 

Registered Office :

Quadrant House 118 London Road Kingston Upon Thames, KT2

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

23.01.2004

 

 

Com. Reg. No.:

OC306624

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Trading in financial assets for short term trading profits.

 

 

No. of Employees :

01

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

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

 

Status :

Moderate

Payment Behaviour :

Slow

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

 

Artesian Capital Management (UK) LLP

 

 

 

Quadrant House

118 London Road

 

Kingston Upon Thames, KT2 6QJ

United Kingdom

(Trading Address)
Registered Address

Map

 

 

 

Employees:

1

Company Type:

Private Subsidiary

Corporate Family:

2 Companies

Ultimate Parent:

Aroona Inc

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

23-Jan-2004

Auditor:

Deloitte LLP

 

 

Fiscal Year End:

31-Dec-2012

Reporting Currency:

British Pound Sterling

Annual Sales:

0.5  1

Net Income:

(0.2)

Total Assets:

3.6

 

Business Description     

 

 

Trading in financial assets for short term tradingprofits.

 

Industry

   

 

Industry

Pensions and Funds

ANZSIC 2006:

6240 - Financial Asset Investing

ISIC Rev 4:

6499 - Other financial service activities, except insurance and pension funding activities, n.e.c.

NACE Rev 2:

6499 - Other financial service activities, except insurance and pension funding, n.e.c.

NAICS 2012:

52 - Finance and Insurance

UK SIC 2007:

6499 - Other financial service activities, except insurance and pension funding, n.e.c.

US SIC 1987:

67 - Holding and Other Investment Offices

 

 Key Executives

                 

 

Name

Title

Matthew Chisholm Clunies-Ross

Designated Llp Member

Jonathan Carter Lake

Non-Designated Llp Member

 

Financial Summary

   

 

FYE: 31-Dec-2012

USD (mil)

Key Figures

 

Current Assets

2.67

Fixed Assets

0.97

Total Liabilities

2.99

Net Worth

0.65

 

Key Ratios

 

Current Ratio

0.89

Acid Test

0.89

 

 

 

 

 

Key IDSM Number: 51366411

Registered No.(UK): OC306624

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6311738


2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6190609

 

 

Corporate Overview

 

Location
Quadrant House
118 London Road
Kingston Upon Thames, KT2 6QJ
Surrey County
United Kingdom

 

 

 

Suggest Company URL

 

Sales GBP(mil):

0.3

Assets GBP(mil):

2.3

Employees:

1

Fiscal Year End:

31-Dec-2012

 

Industry:

Miscellaneous Financial Services

Registered Address:
Quadrant House
118 London Road
Kingston
Kingston Upon Thames, KT2 6QJ
United Kingdom

 

Incorporation Date:

23-Jan-2004

Company Type:

Private Subsidiary

Quoted Status:

Not Quoted

Registered No.(UK):

OC306624

 

Designated Llp Member:

Matthew Chisholm Clunies-Ross

 

Industry Codes

 

ANZSIC 2006 Codes:

6240

-

Financial Asset Investing

 

ISIC Rev 4 Codes:

6499

-

Other financial service activities, except insurance and pension funding activities, n.e.c.

 

NACE Rev 2 Codes:

6499

-

Other financial service activities, except insurance and pension funding, n.e.c.

 

NAICS 2012 Codes:

52

-

Finance and Insurance

 

US SIC 1987:

67

-

Holding and Other Investment Offices

 

UK SIC 2007:

6499

-

Other financial service activities, except insurance and pension funding, n.e.c.

 

Business Description

Trading in financial assets for short term tradingprofits.

 

 

 

 

 

 

Financial Data

Financials in:

GBP(mil)

 

Revenue:

0.3

Net Income:

-0.1

Assets:

2.3

Current Assets:

1.7

 

Fixed Assets:

0.6

 

Long Term Debt:

0.0

 

Total Liabilities:

1.9

 

Working Capital:

-0.2

 

Net Worth:

0.4

 

 

 

Date of Financial Data:

31-Dec-2012

 

1 Year Growth

47.7%

NA

NA

 

Key Corporate Relationships

Auditor:

Deloitte LLP

Bank:

J P Morgan

 

Auditor:

Deloitte LLP

 

Auditor History

Deloitte LLP

31-Dec-2012

Deloitte LLP

31-Dec-2011

Deloitte LLP

31-Dec-2010

Deloitte LLP

31-Dec-2009

Deliotte LLP

31-Dec-2008

 

 

 

GBP(mil)

Audit Fees:

0.0

Audit Fiscal Year:

12-31-2012

 

 

 

 

 

 

 

Corporate Structure News

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Aroona Inc

Parent

 

 

 

 

 

Artesian Capital Management (UK) LLP

Subsidiary

Kingston Upon Thames

United Kingdom

Pensions and Funds

0.5

1

 


Executives Report

 

 

Board of Directors

 

Name

Title

Function

 

Matthew Chisholm Clunies-Ross

 

Designated Llp Member

Director/Board Member

 

Age: 46

 

Jonathan Carter Lake

 

Non-Designated Llp Member

Director/Board Member

 

 

Age: 31

 

 

 

Annual Profit & Loss

 

 

 

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

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Turnover

0.5

0.3

0.4

1.2

1.1

Total Expenses

0.8

0.3

0.3

0.3

0.5

Depreciation

0.0

0.0

-

-

0.0

Operating Profit

-

-

-

0.8

-

Other Income

0.1

0.0

0.0

0.0

0.1

Interest Paid

0.0

0.0

0.0

0.0

0.0

Exceptional Income

0.0

0.0

0.0

0.0

-0.6

Discontinued Operations

-

0.0

0.0

-

-

Profit Before Taxes

-0.2

0.1

0.1

0.8

0.1

Tax Payable / Credit

0.0

0.0

0.0

0.0

0.0

Extraordinary Items/Debits

0.0

0.0

0.0

0.0

0.0

Profit After Taxes

-0.2

0.1

0.1

0.8

0.1

Audit Fees

0.0

0.0

0.0

0.0

0.0

Number of Employees

1

1

1

1

3

Wages

0.2

0.1

0.1

0.0

0.0

Social Security Costs

0.0

0.0

0.0

0.0

0.0

Pensions

-

0.0

-

0.0

-

Other Pension Costs

0.0

0.0

0.0

0.1

0.1

Employees Remuneration

0.2

0.2

0.1

0.1

0.1

Directors Emoluments

-

0.0

-

0.0

-

Other Costs

-

0.0

-

0.0

-

Directors Remuneration

-

0.0

-

0.0

-

Highest Paid Director

-

0.0

-

0.0

-

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

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

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Land & Buildings

0.0

0.0

0.0

0.0

0.0

Fixtures & Fittings

0.0

0.0

0.0

0.0

0.0

Plant & Vehicles

0.0

0.0

0.0

0.0

0.0

Total Tangible Fixed Assets

0.0

0.0

0.0

0.0

0.0

Intangible Assets

0.0

0.0

0.0

0.0

0.0

Investments

1.0

0.0

0.0

0.0

0.0

Total Fixed Assets

1.0

0.0

0.0

0.0

0.0

Stocks

0.0

0.0

0.0

0.0

0.0

Work in Progress

0.0

0.0

0.0

0.0

0.0

Total Stocks Work In Progress

0.0

0.0

0.0

0.0

0.0

Trade Debtors

0.6

0.3

0.4

0.3

0.0

Inter-Company Debtors

0.1

0.0

1.3

0.6

0.6

Director Loans

0.0

0.0

0.0

0.0

0.0

Other Debtors

0.0

1.0

0.0

0.0

0.0

Total Debtors

0.7

1.4

1.7

0.9

0.6

Cash and Equivalents

1.5

0.6

1.1

0.5

0.1

Other Current Assets

0.5

0.5

0.5

0.5

0.0

Total Current Assets

2.7

2.4

3.4

1.9

0.7

Total Assets

3.6

2.4

3.4

1.9

0.7

Trade Creditors

0.0

-

-

0.1

0.1

Bank Overdraft

0.0

0.0

0.0

0.0

0.0

Inter-Company Creditors

2.8

1.7

2.7

1.2

0.0

Director Loans (Current Liability)

0.0

0.0

0.4

0.5

0.0

Hire Purchase (Current Liability)

0.0

0.0

0.0

0.0

0.0

Finance Lease (Current Liability)

0.0

0.0

0.0

0.0

0.0

Total Finance Lease/Hire Purchase (Current Liability)

0.0

0.0

0.0

0.0

0.0

Total Short Term Loans

0.0

0.0

0.0

0.0

0.0

Accruals/Deferred Income (Current Liability)

0.0

-

-

0.0

0.0

Social Security/VAT

0.0

0.0

0.0

0.0

0.0

Corporation Tax

0.0

0.0

0.0

0.0

0.0

Other Current Liabilities

0.1

0.1

0.0

0.0

0.1

Total Current Liabilities

3.0

1.8

3.1

1.7

0.1

Group Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Director Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Hire Purchase (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Leasing (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Total Hire Purchase Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Loans

0.0

0.0

0.0

0.0

0.0

Accruals/Deferred Income (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Liabilities

0.0

0.0

0.0

0.0

0.0

Total Long Term Liabilities

0.0

0.0

0.0

0.0

0.0

Deferred Taxation

0.0

0.0

-

0.0

0.0

Other Provisions

0.0

0.0

0.1

0.0

0.0

Total Provisions

0.0

0.0

0.1

0.0

0.0

Issued Capital

0.0

0.0

0.0

0.0

0.0

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

0.0

0.0

0.0

0.0

Other Reserves

0.7

0.6

0.2

0.2

0.5

Minority Interests (Balance Sheet)

0.0

0.0

0.0

0.0

0.0

Total Shareholders Funds

0.7

0.6

0.2

0.2

0.5

Net Worth

0.7

0.6

0.2

0.2

0.5

 

 

 

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

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

Current Ratio

0.89

1.34

1.08

1.11

4.56

Liquidity Ratio

0.89

1.34

1.08

1.11

4.56

Credit Period (Days)

43,721.00

35,960.00

32,038.00

7,967.00

-

Working Capital by Sales

-6,789.00%

19,768.00%

5,613.00%

1,545.00%

5,919.00%

Trade Credit by Debtors

7.00

-

-

37.00

-

Return on Capital

-3,716.00%

944.00%

5,075.00%

45,973.00%

1,084.00%

Return on Assets

-663.00%

237.00%

368.00%

4,475.00%

847.00%

Profit Margin

-5,072.00%

1,868.00%

2,858.00%

7,105.00%

642.00%

Return on Shareholders Funds

-3,716.00%

944.00%

6,902.00%

45,973.00%

1,084.00%

Borrowing Ratio

43,682.00%

28,046.00%

172,809.00%

86,751.00%

-

Equity Gearing

1,784.00%

2,513.00%

533.00%

973.00%

7,807.00%

Sales by Tangible Assets

460,648.00

67,870.00

52,872.00

-

-

Average Remuneration per Employee

0.2

0.1

0.1

0.1

0.0

Profit per Employee

-0.2

0.1

0.1

0.9

0.0

Sales per Employee

0.5

0.3

0.4

1.2

0.3

Capital Employed per Employee

0.7

0.6

0.2

0.2

0.2

Tangible Assets per Employee

0.0

0.0

0.0

-

-

Total Assets per Employee

3.6

2.4

3.4

1.9

0.2

Employee Remuneration by Sales

4,568.00%

4,767.00%

3,234.00%

503.00%

821.00%

Creditor Days (Cost of Sales Based)

3,138.00

-

-

2,915.00

2,868.00

Creditor Days (Sales Based)

3,138.00

-

-

2,915.00

2,868.00

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.78

UK Pound

1

Rs.99.66

Euro

1

Rs.84.49

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.