MIRA INFORM REPORT

 

 

Report Date :

23.09.2013

 

IDENTIFICATION DETAILS

 

Name :

SIMTOM FOOD PRODUCTS LTD. 

 

 

Registered Office :

Unit 17, Merry Lees Industrial Estate, Le Leicester, LE9 9FS

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

26.02.1991

 

 

Com. Reg. No.:

02585630

 

 

Legal Form :

Private Independent

 

 

Line of Business :

Food Product Manufacturers

 

 

No. of Employees :

27

 

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

 

 

uk - 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 & address

 

IMTOM FOOD PRODUCTS LTD. 

                                                                                                                                                                                                                                                                                                                                                                                     

 

Unit 17 Merrylees Industrial Estate

Lee Side

Desford

Leicester, LE9 9FS

United Kingdom

(Trading Address) 


Tel:           01530 230776

Website :  www.simtom.co.uk

 

synthesis

 

Employees:                              27

Company Type:                        Private Independent

Quoted Status:                         Non-quoted Company

Incorporation Date:                               26-Feb-1991

Financials in:                             USD (mil)

Fiscal Year End:                       31-Mar-2012

Reporting Currency:                  British Pound Sterling

Annual Sales:                            NA

Total Assets:                            3.2

 

 

Business Description     

 

 

Food products.

 

 

Industry

 

 

Industry                Food Manufacturing

ANZSIC 2006:       1199 - Other Food Product Manufacturing Not Elsewhere Classified

ISIC Rev 4:            1079 - Manufacture of other food products n.e.c.

NACE Rev 2:         1089 - Manufacture of other food products n.e.c.

NAICS 2012:         311999 - All Other Miscellaneous Food Manufacturing

UK SIC 2007:        1089 - Manufacture of other food products n.e.c.

US SIC 1987:        2099 - Food Preparations, Not Elsewhere Classified

 

                           

Key Executives   

   

 

Name                                       Title                     

Jaisukh Dayalji Chandarana        Managing Director

Rekha Jaisukh Chandarana         Director                

Bhavin Jaisukh Chandarana        Director                

 

 

 News  

 

Title

Date

£2.5m investment set to treble food firm turnover
Leicester Mercury (UK) (400 Words)

19-Sep-2013

18/09/13 Growth forecast for East Midlands Indian foods firm
Company and Organization Website News (346 Words)

18-Sep-2013

Growth forecast for East Midlands Indian foods firm
MidlandsBusinessNews.co.uk (357 Words)

18-Sep-2013

Indian food manufacturer, Simtom, to expand UK production with fresh financing
Retail Times (327 Words)

17-Sep-2013

 

 

Financial Summary

 

 

FYE: 31-Mar-2012

USD (mil)

Key Figures

 

Current Assets

1.36

Fixed Assets

1.85

Total Liabilities

0.0000

Net Worth

-1.48

 

Key Ratios

 

Current Ratio

0.0000

Liquidity Ratio

0.0000

 

 

 

Registered No.(UK): 02585630

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6267523 
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6281078

 

 

 

Corporate Overview

 

Location
Unit 17 Merrylees Industrial Estate
Lee Side
Desford
Leicester, LE9 9FS
Leicestershire County 
United Kingdom

 

Tel:

01530 230776

 

www.simtom.co.uk

Sales GBP(mil):

NA

Assets GBP(mil):

2.0

Employees:

27

Fiscal Year End:

31-Mar-2012

 

Industry:

Food Processing

Registered Address:
Unit 17
Merry Lees Industrial Estate, Le
Leicester, LE9 9FS
United Kingdom

 

Incorporation Date:

26-Feb-1991

Company Type:

Private Independent

Quoted Status:

Not Quoted

Registered No.(UK):

02585630

 

 

Managing Director:

Jaisukh Dayalji Chandarana

 

Industry Codes

 

ANZSIC 2006 Codes:

1199

-

Other Food Product Manufacturing Not Elsewhere Classified

 

ISIC Rev 4 Codes:

1079

-

Manufacture of other food products n.e.c.

 

NACE Rev 2 Codes:

1089

-

Manufacture of other food products n.e.c.

 

NAICS 2012 Codes:

311999

-

All Other Miscellaneous Food Manufacturing

 

US SIC 1987:

2099

-

Food Preparations, Not Elsewhere Classified

 

UK SIC 2007:

1089

-

Manufacture of other food products n.e.c.

 

Business Description

 

Food products.

 

 

More Business Descriptions

 

Food preparations

.

Food Product Manufacturers

 

 

 

 

 

Financial Data

 

Financials in:

GBP(mil)

 

 

 

Assets:

2.0

 

Current Assets:

0.9

 

Fixed Assets:

1.2

 

Long Term Debt:

0.0

 

Issued Capital:

0.0

 

Working Capital:

-1.0

 

Net Worth:

-0.9

 

 

 

Date of Financial Data:

31-Mar-2012

 

1 Year Growth

NA

 

Key Corporate Relationships

 

 

 

GBP(mil)

Audit Fees:

0.0

Audit Fiscal Year:

03-31-2012

 

 

 

 

 

 

 

 

 

Board of Directors

 

Name

Title

Function

 

Jaisukh Dayalji Chandarana

 

Managing Director

Director/Board Member

 

Age: 58

 

Bhavin Jaisukh Chandarana

 

Director

Director/Board Member

 

 

Age: 28

 

Rekha Jaisukh Chandarana

 

Director

Director/Board Member

 

 

Age: 55

 

 

Executives

 

Name

Title

Function

 

Jaisukh Dayalji Chandarana

 

Managing Director

Managing Director

 

Age: 58

 





Directors and Shareholders Report

 

Main Office Address:
Unit 17 Merrylees Industrial Estate
Lee Side
Leicester
United Kingdom LE9 9FS

Tel: 01530 230776
URL:http://www.simtom.co.uk

Annual Return Date: 28 Feb 2013

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Jaisukh Dayalji 
Chandarana

Current

06 Oct 1954

Unit 17 Merry Lees Industrial Estate Leeside, Merry Lees Nr Desford, 
Leicester, Leicestershire LE9 9FS

26 Feb 1991

NA

Current:2
Previous:0
Disqualifications:0

 

Rekha Jaisukh
Chandarana

Current

08 Jan 1958

Unit 17 Merry Lees Industrial Estate Leeside, Merry Lees Nr Desford, 
Leicester, Leicestershire LE9 9FS

17 Jul 2008

NA

Current:1
Previous:0
Disqualifications:0

 

Bhavin Jaisukh
Chandarana

Current

11 Apr 1985

Unit 17 Merry Lees Industrial Estate Leeside, Merry Lees Nr Desford, 
Leicester, Leicestershire LE9 9FS

07 Mar 2011

NA

Current:1
Previous:0
Disqualifications:0

 

Chandrakant Dayalji 
Chandarana

Previous

14 Feb 1956

Jerviston, Stamford Road Kirby Muxloe, 
Leicester, Leicestershire LE9 2ER

26 Feb 1991

17 Jul 2008

Current:0
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Mbc Secretaries Limited

Previous

174-180 Old Street, 
London , London EC1V 9BP

26 Feb 1992

26 Feb 1991

 

 

 

 

Individual Secretaries

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Jaisukh Dayalji 
Chandarana

Current

06 Oct 1954

Unit 17 Merry Lees Industrial Estate Leeside, Merry Lees Nr Desford, 
Leicester, Leicestershire LE9 9FS

26 Feb 1991

NA

Current:2
Previous:0
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

There are no corporate secretaries for this company.

 

 

Individual Shareholders

Name

Share Details 
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

J D Chandarana

12500 Ordinary GBP 1.00

Ordinary

12,500

1.00

12,500.00

50.00

Mrs. Rekha Jaisukh Chandarana

12500 Ordinary GBP 1.00

Ordinary

12,500

1.00

12,500.00

50.00

 

 

 

 

 

 

 

 

Corporate Shareholders

There are no corporate shareholders for this company.

 

 

 

Annual Profit & Loss

 

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

31-Mar-2012

31-Mar-2011

31-Jul-2010

31-Jul-2009

31-Jul-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.626752

0.643394

0.637195

0.636663

0.500129

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Audit Fees

0.0

0.0

0.0

0.0

0.0

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Mar-2012

31-Mar-2011

31-Jul-2010

Filed Currency

GBP

GBP

GBP

Exchange Rate

0.628108

0.62385

0.638529

Consolidated

No

No

No

 

 

 

 

Total Tangible Fixed Assets

0.0

-

-

Intangible Assets

1.8

-

-

Investments

-

-

0.0

Total Fixed Assets

1.9

-

0.0

Total Stocks

0.6

-

-

Trade Debtors

0.8

-

-

Cash and Equivalents

0.0

-

-

Other Current Assets

0.0

0.0

-

Total Current Assets

1.4

0.0

-

Total Assets

3.2

0.0

0.0

Trade Creditors

2.9

-

-

Bank Overdraft

0.0

0.0

0.0

Bank Loan Overdrafts

0.0

0.0

0.0

Total Short Term Loans

0.0

0.0

0.0

Other Current Liabilities

0.0

0.0

0.0

Total Current Liabilities

0.0

0.0

0.0

Working Capital

-1.5

0.0

-

Total Long Term Loans

0.0

0.0

0.0

Other Long Term Liabilities

0.0

0.0

0.0

Total Long Term Liabilities

0.0

0.0

0.0

Issued Capital

0.0

-

-

Retained Earnings

0.3

-

-

Total Reserve

0.3

0.0

0.0

Total Shareholders Funds

0.3

0.0

0.0

Net Worth

-1.5

0.0

0.0

 

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

31-Mar-2012

31-Mar-2011

31-Jul-2010

Period Length

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

Exchange Rate (Period Average)

0.626752

0.643394

0.637195

Consolidated

No

No

No

 

 

 

 

Paid Up Equity

0.0

0.0

0.0

 

 

Annual Ratios

 

 

 

 

31-Mar-2012

31-Mar-2011

31-Jul-2010

31-Jul-2009

31-Jul-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

-

-

-

-

-

Exchange Rate

-

-

-

-

-

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

0.00

-

-

-

-

Liquidity Ratio

0.00

-

-

-

-

Solvency Ratio

10.00%

100.00%

100.00%

-

-

Current Debt Ratio

9.00

-

-

-

-

Long Term Debt Ratio

0.00

-

-

-

-

Total Debt Ratio

9.00

-

-

-

-

Debt Asset Ratio

90.00%

-

-

-

-

Stock Financing

0.00

-

-

-

-

Fixed Asset Investment

1.00

-

1.00

-

-

Stock to Total Assets

561.00%

-

-

-

-

Financial Strength Ratio

1.00

0.00

0.00

0.00

0.00

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.24

UK Pound

1

Rs.99.89

Euro

1

Rs.84.22

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.