MIRA INFORM REPORT

 

 

Report Date :

04.08.2014

 

IDENTIFICATION DETAILS

 

Name :

NIF (UK) LIMITED

 

 

Registered Office :

Unit 4, Suite 15A, Orwell House, Ferry Lane, Felixstowe, IP11 3QR

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

14.11.2000

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Importers of Cast Iron Products.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

Slow but correct

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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 third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership. 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, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. 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. Falling 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 included 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 about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to 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 £375 billion (approximately $605 billion) as of December 2013. 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, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase.

 

Source : CIA

 

 

 

 

REGISTERED NAME & COMPANY SUMMARY

 

 

DIRECTORS/MANAGEMENT

 

Current Directors

Name

Girish Kumar Madhogaria

Date of Birth

07/12/1958

Officers Title

Mr

Nationality

Indian

Present Appointments

1

Function

Director

Appointment Date

14/12/2000

 

 

Address

Unit 4 Suite 15a, Orwell House, Ferry Lane, Felixstowe, Suffolk, IP11 3QR

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Abhisek Satnaliwala

Date of Birth

18/10/1978

Officers Title

 

Nationality

Indian

Present Appointments

2

Function

Director

Appointment Date

07/03/2001

 

 

Address

Unit 4 Suite 15a, Orwell House, Ferry Lane, Felixstowe, Suffolk, IP11 3QR

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Ajay Kumar Madhogaria

Date of Birth

13/11/1956

Officers Title

Mr

Nationality

Indian

Present Appointments

1

Function

Director

Appointment Date

01/04/2002

 

 

Address

Unit 4 Suite 15a, Orwell House, Ferry Lane, Felixstowe, Suffolk, IP11 3QR

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Harsh Madhogaria

Date of Birth

31/03/1985

Officers Title

Mr

Nationality

Indian

Present Appointments

3

Function

Director

Appointment Date

11/08/2006

 

 

Address

Unit 4 Suite 15a, Orwell House, Ferry Lane, Felixstowe, Suffolk, IP11 3QR

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Sharda Madhogaria

Date of Birth

26/04/1960

Officers Title

Ms

Nationality

Indian

Present Appointments

1

Function

Director

Appointment Date

29/10/2007

 

 

Address

Unit 4 Suite 15a, Orwell House, Ferry Lane, Felixstowe, Suffolk, IP11 3QR

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

 

Current Company Secretary

 

Name

Abhisek Satnaliwala

Date of Birth

18/10/1978

Officers Title

 

Nationality

Indian

Present Appointments

2

Function

Company Secretary

Appointment Date

28/09/2006

 

 

Address

Unit 4 Suite 15a, Orwell House, Ferry Lane, Felixstowe, Suffolk, IP11 3QR

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

Richard David

5

4

Richard David

5

4

Paul Francis Costello

9

14

Sunil Kumar Sharma

0

1

UK INCORPORATIONS LIMITED

22

1549

UK COMPANY SECRETARIES LIMITED

58

1578

 

NEGATIVE INFORMATION

 

CCJ

 

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

Total Number of Writs -

-

 

 

 

Exact CCJ Details

 

No CCJs found

 

Possible CCJs Details

 

There are no possible CCJ details

 

Writ Details

 

No writs found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

NSI (EURO) LTD

GBP

300,000

ORDINARY

1

75

NIF ISPAT LTD

GBP

100,000

ORDINARY

1

25

 

 

PAYMENT INFORMATION

 

Payment Trend

 

Stable

 

Average Invoice Value

£167.12

Invoices available

35

Paid

35

Outstanding

0

 

 

 

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

 

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

28

6

1

0

0

Outstanding

0

0

0

0

0

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

3 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

NSI (EURO) LTD

Ownership Status

Intermediately Owned

Ultimate Holding Company

NSI (INDIA) LTD

 

Group structure

Company Name

 

Registered Number

Latest Key Financials

Consol. Accounts

Rating

Limit

Turnover

NSI (INDIA) LTD

 

N/A

-

-

-

-

 

NSI (EURO) LTD

 

06250975

31.03.2013

N

91

£25,000

 

NIF (UK) LIMITED

 

04107172

31.03.2013

N

95

£75,000

 

 

 

FINANCIAL INFORMATION

 

 

Profit & Loss

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

-

-

-

-

-

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

-

-

-

-

-

-

-

-

-

Depreciation

£2,985

-25.5%

£4,005

-6.8%

£4,295

45.4%

£2,953

-47.1%

£5,577

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Tangible Assets

£252,383

-1.2%

£255,368

-1.5%

£259,173

5.1%

£246,711

-1.1%

£249,504

Intangible Assets

£74,174

8.9%

£68,103

32.9%

£51,250

1.4%

£50,539

18.2%

£42,750

Total Fixed Assets

£326,557

1%

£323,471

4.2%

£310,423

4.4%

£297,250

1.7%

£292,254

Stock

£723,739

-38.1%

£1,168,556

114.8%

£544,145

-23.4%

£710,186

143.4%

£291,722

Trade Debtors

£1,213,411

-2.1%

£1,239,954

1.2%

£1,225,137

17.7%

£1,040,594

47.7%

£704,737

Cash

£117,005

-47.6%

£223,277

15.9%

£192,625

36.9%

£140,695

-39.7%

£233,181

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£2,054,155

-21.9%

£2,631,787

34.1%

£1,961,907

3.7%

£1,891,475

53.8%

£1,229,640

Trade Creditors

£286,350

-52.5%

£602,228

5.8%

£569,291

36.3%

£417,549

68.6%

£247,607

Bank Loans & Overdrafts

£913,274

-13.3%

£1,053,133

46.3%

£720,027

-25.2%

£962,083

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-100%

£554,537

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

Total Current Liabilities

£1,199,624

-27.5%

£1,655,361

28.4%

£1,289,318

-6.5%

£1,379,632

72%

£802,144

Bank Loans & Overdrafts and LTL

£1,343,144

-9.8%

£1,488,882

28.2%

£1,161,655

-17.8%

£1,413,798

204.7%

£463,938

Other Long Term Finance

0

-

0

-

0

-

0

-100%

£157,468

Total Long Term Liabilities

£429,870

-1.3%

£435,749

-1.3%

£441,628

-2.2%

£451,715

-2.6%

£463,938

 

 

Capital & Reserves

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Called Up Share Capital

£400,000

-

£400,000

77.8%

£225,000

-

£225,000

-

£225,000

P & L Account Reserve

£351,218

-24.3%

£464,148

46.7%

£316,384

139%

£132,378

329.6%

£30,812

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£751,218

-13.1%

£864,148

59.6%

£541,384

51.5%

£357,378

39.7%

£255,812

 

 

Other Financial Items

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Net Worth

£677,044

-14.9%

£796,045

62.4%

£490,134

59.7%

£306,839

44%

£213,062

Working Capital

£854,531

-12.5%

£976,426

45.2%

£672,589

31.4%

£511,843

19.7%

£427,496

Total Assets

£2,380,712

-19.4%

£2,955,258

30.1%

£2,272,330

3.8%

£2,188,725

43.8%

£1,521,894

Total Liabilities

£1,629,494

-22.1%

£2,091,110

20.8%

£1,730,946

-5.5%

£1,831,347

44.6%

£1,266,082

Net Assets

£751,218

-13.1%

£864,148

59.6%

£541,384

51.5%

£357,378

39.7%

£255,812

 

 

Cash Flow

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

 

Miscellaneous

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£1,181,088

-9.1%

£1,299,897

32.2%

£983,012

21.5%

£809,093

12.4%

£719,750

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

GODLEY & CO LIMITED

Auditor Comments

The audit report contains no adverse comments

Bankers

 

Bank Branch Code

 

 

 

Ratios

 

Date Of Accounts

31/03/13

31/03/12

31/03/11

31/03/10

31/03/09

Pre-tax profit margin %

-

-

-

-

-

Current ratio

1.71

1.59

1.52

1.37

1.53

Sales/Net Working Capital

-

-

-

-

-

Gearing %

178.80

172.30

214.60

395.60

181.40

Equity in %

32.60

29.90

24.40

16.70

17.30

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

1.10

0.88

1.09

0.85

1.16

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

1.59

1.91

2.38

3.86

3.13

Total Debt Ratio

2.16

2.41

3.19

5.12

4.94

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

 

ADDITIONAL INFORMATION

 

Enquiries Trend

 

There have been 25 enquiries in the last 12 months.

There are an average of 2 reports taken each month.

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

13/01/2014

New Accounts Filed

11/01/2014

Annual Returns

05/01/2013

New Accounts Filed

22/12/2012

Annual Returns

19/04/2012

Change in Reg.Office

19/04/2012

Change of Company Postcode

14/01/2012

New Accounts Filed

14/01/2012

New Accounts Filed

08/11/2011

Annual Returns

07/11/2011

Change in Reg.Office

07/11/2011

Change of Company Postcode

07/12/2010

Annual Returns

13/08/2010

New Accounts Filed

06/03/2010

New Accounts Filed

06/03/2010

New Accounts Filed

 

 

Previous Company Names

 

No Previous Names found

 

 

NOTES & COMMENTS

 

Commentary

 

No exact match CCJs are recorded against the company.

 

The company's credit rating has increased from not rated to 95 which indicates very good creditworthiness.

 

The credit limit on this company has fallen 6.3% in comparison to the previously suggested credit limit.

 

There is insufficient data to indicate a change in this company's percentage of sales.

 

Net Worth decreased by 14.9% during the latest trading period.

 

 

A 19.4% decline in Total Assets occurred during the latest trading period.

 

There is insufficient data to indicate a change in this company's pre-tax profit.

 

The company saw a decrease in their Cash Balance of 47.6% during the latest trading period.

 

The audit report contains no adverse comments.

 

No recent changes in directorship are recorded.

 

The company is part of a group.

 

The movement in accumulated earnings would indicate that the company incurred a loss after tax and other appropriations, including dividends.

 

The company has changed its registered address recently.

 

The company was established over 13 years ago.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.85

UK Pound

1

Rs.102.69

Euro

1

Rs.81.46

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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