MIRA INFORM REPORT

 

 

Report Date :

08.08.2014

 

IDENTIFICATION DETAILS

 

Name :

MIDLAND ROAD SPRINGS LTD

 

 

Formerly Known As :

ZOMARK TRADING LIMITED

 

 

Registered Office :

10 Hurst Green Road Minworth Sutton Coldfield B76 9AP

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.07.2013

 

 

Date of Incorporation :

02.07.2008

 

 

Com. Reg. No.:

06635858

 

 

Legal Form :

Private limited with share capital

 

 

Line of Business :

Wholesale trade of motor vehicle parts and accessories

 

 

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 :

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 – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

 

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

 

Company Name:

MIDLAND ROAD SPRINGS LTD

 

Company No:

06635858

 

Company Status:

Active - Accounts Filed

 

Registered Address:

10 HURST GREEN ROAD MINWORTH SUTTON COLDFIELD B76 9AP

 

Your Login:

101031649

 

Your User ID:

ASHLEIGH

 

Date / Time:

13:54 Tuesday, 05 August 2014

 

 

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

1

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

2

 

Current Directors

 

Name

William Gouldney

Date of Birth

06/09/1948

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

19/02/2009

 

 

Address

10 Hurst Green Road, Minworth, Sutton Coldfield, West Midlands, B76 9AP

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

 

Name

Ann Gouldney

Date of Birth

-

Officers Title

Ms

Nationality

British

Present Appointments

1

Function

Company Secretary

Appointment Date

19/02/2009

 

 

Address

10 Hurst Green Road, Minworth, Sutton Coldfield, West Midlands, B76 9AP

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

TEMPLE SECRETARIES LIMITED

0

1

COMPANY DIRECTORS LIMITED

0

1

 

NEGATIVE INFORMATION

 

Mortgage Summary

·         Total Mortgage

·         0

·         Outstanding

·         0

·         Satisfied

·         0

 

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

WILLIAM GOULDNEY

GBP

50

ORDINARY

1

50

ANNE GOULDNEY

GBP

50

ORDINARY

1

50

 

PAYMENT INFORMATION

 

Trade Debtors / Bad Debt Summary

 

·         Total Number of Documented Trade

·         1

·         Total Value of Documented Trade

·         £1,352

 

Trade Payment Information

 

Average Invoice Value

78.92

Invoices available

8

Paid

0

Outstanding

8

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

 

Creditor Details

 

 

Total Number

Total Value

Trade Creditors

0

-

 

No Creditor Data

 

Trade Debtors / Bad Debt Detail

 

 

Total Number of Documented Trade

Total Value of Documented Trade

Trade Debtors

1

£1,352

 

Company Name

Amount

Statement Date

Jjem Trucks Limited

£1,352

08/08/2012

 

Average Invoice Value

£78.92

Invoices available

8

Paid

0

Outstanding

8

 

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

0

0

0

0

0

Outstanding

0

0

8

0

0

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

 

Group

-

Linkages

0 companies

Countries

In 0 countries

 

Summary

 

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

 

Group structure

 

No group structure

FINANCIAL INFORMATION

 

 

Profit & Loss

 

Date Of Accounts

31/07/13

(%)

31/07/12

(%)

31/07/11

(%)

31/07/10

(%)

31/07/09

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

£5,978

52.9%

£3,910

0.4%

£3,894

-21.4%

£4,955

-12.5%

£5,661

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

Balance Sheet

 

Date Of Accounts

31/07/13

(%)

31/07/12

(%)

31/07/11

(%)

31/07/10

(%)

31/07/09

Tangible Assets

£17,766

53.2%

£11,597

-0.3%

£11,634

-21.3%

£14,792

-12.3%

£16,872

Intangible Assets

0

-100%

£6,600

-50%

£13,200

-33.3%

£19,800

-25%

£26,400

Total Fixed Assets

£17,766

-2.4%

£18,197

-26.7%

£24,834

-28.2%

£34,592

-20.1%

£43,272

Stock

£31,181

4.6%

£29,801

50%

£19,867

80.3%

£11,020

19.8%

£9,200

Trade Debtors

£149,694

62.9%

£91,876

13.5%

£80,957

16.6%

£69,433

26%

£55,127

Cash

£119,022

20%

£99,157

22.5%

£80,936

16.1%

£69,730

-1.4%

£70,740

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£299,897

35.8%

£220,834

21.5%

£181,760

21%

£150,183

11.2%

£135,067

Trade Creditors

£92,284

21.3%

£76,109

7.8%

£70,573

9%

£64,773

34.4%

£48,197

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

Total Current Liabilities

£92,284

21.3%

£76,109

7.8%

£70,573

9%

£64,773

34.4%

£48,197

Bank Loans & Overdrafts and LTL

0

-100%

£689

-75%

£2,755

-

0

-

0

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-100%

£689

-75%

£2,755

-

0

-

0

 

Capital & Reserves

 

Date Of Accounts

31/07/13

(%)

31/07/12

(%)

31/07/11

(%)

31/07/10

(%)

31/07/09

Called Up Share Capital

£100

-

£100

-

£100

-

£100

-

£100

P & L Account Reserve

£225,279

38.9%

£162,133

21.8%

£133,166

11.1%

£119,902

-7.8%

£130,042

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£225,379

38.9%

£162,233

21.7%

£133,266

11.1%

£120,002

-7.8%

£130,142

 

Other Financial Items

 

Date Of Accounts

31/07/13

(%)

31/07/12

(%)

31/07/11

(%)

31/07/10

(%)

31/07/09

Net Worth

£225,379

44.8%

£155,633

29.6%

£120,066

19.8%

£100,202

-3.4%

£103,742

Working Capital

£207,613

43.5%

£144,725

30.2%

£111,187

30.2%

£85,410

-1.7%

£86,870

Total Assets

£317,663

32.9%

£239,031

15.7%

£206,594

11.8%

£184,775

3.6%

£178,339

Total Liabilities

£92,284

20.2%

£76,798

4.7%

£73,328

13.2%

£64,773

34.4%

£48,197

Net Assets

£225,379

38.9%

£162,233

21.7%

£133,266

11.1%

£120,002

-7.8%

£130,142

 

Cash Flow

 

Date Of Accounts

31/07/13

(%)

31/07/12

(%)

31/07/11

(%)

31/07/10

(%)

31/07/09

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

Miscellaneous

 

Date Of Accounts

31/07/13

(%)

31/07/12

(%)

31/07/11

(%)

31/07/10

(%)

31/07/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£225,379

38.3%

£162,922

19.8%

£136,021

13.3%

£120,002

-7.8%

£130,142

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

 

Auditor Comments

The company is exempt from audit

Bankers

 

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/07/13

31/07/12

31/07/11

31/07/10

31/07/09

Pre-tax profit margin %

-

-

-

-

-

Current ratio

3.25

2.90

2.58

2.32

2.80

Sales/Net Working Capital

-

-

-

-

-

Gearing %

0

0.40

2.10

0

0

Equity in %

70.90

69.80

68.90

72.70

85.70

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

2.91

2.50

2.29

2.14

2.61

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

0.40

0.46

0.52

0.53

0.37

Total Debt Ratio

0.40

0.47

0.55

0.53

0.37

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

FOREIGN EXCHANGE RATES

 

Na

 

ADDITIONAL INFORMATION

 

Enquiries Trend

 

There have been 23 enquiries in the last 12 months.

There are an average of 2 reports taken each month.

 

 

3 MONTHS

6 MONTHS

9 MONTHS

Enquiries

8

9

18

 

Status History

 

No Status History found

 

Event History

 

Date

Description

11/07/2014

Annual Returns

26/11/2013

New Accounts Filed

09/07/2013

Annual Returns

19/10/2012

New Accounts Filed

30/06/2012

Annual Returns

11/11/2011

New Accounts Filed

11/11/2011

New Accounts Filed

05/07/2011

Annual Returns

15/02/2011

Change in Reg.Office

15/02/2011

Change of Company Postcode

26/10/2010

New Accounts Filed

06/07/2010

Annual Returns

23/11/2009

New Accounts Filed

03/07/2009

Annual Returns

25/03/2009

Change of Name

 

 

Previous Company Names

 

Date

Previous Name

19/03/2009

ZOMARK TRADING LIMITED

 

NOTES & COMMENTS

 

Commentary

 

No exact match CCJs are recorded against the company.

 

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

 

Net Worth increased by 44.8% during the latest trading period.

 

 

A 32.9% growth 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 an increase in their Cash Balance of 20% during the latest trading period.

 

The company is exempt from audit.

 

No recent changes in directorship are recorded.

 

The company is not part of a group.

 

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

 

The company was established over 6 years ago.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 61.41

UK Pound

1

Rs. 103.42

Euro

1

Rs. 82.16

 

 

INFORMATION DETAILS

 

Analysis Done by :

RSM

 

 

Report Prepared by :

DPT

 

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.