MIRA INFORM REPORT

 

 

Report Date :

26.08.2014

 

IDENTIFICATION DETAILS

 

Name :

MULTI TRADE LINKS (UK) LTD

 

 

Registered Office :

5-9 Headstone Road Harrow Middlesex HA1 1PD

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

04.04.2008

 

 

Com. Reg. No.:

06555378

 

 

Legal Form :

Private limited with share capital

 

 

Line of Business :

Wholesale of waste and scrap

 

 

No. of Employees

06

 

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 – 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

 

 

Company name and address

 

Company Name:          MULTI TRADE LINKS (UK) LTD

Company No:               06555378

Registered Address:     5-9 HEADSTONE ROAD

HARROW MIDDLESEX HA1 1PD

 

 

Company summary

 

Registered Address:      

C/O, 1ST FLOOR, CERVANES HOUSE

5-9 HEADSTONE ROAD

HARROW MIDDLESEX HA1 1PD

Trading Address:           

5-9 HEADSTONE ROAD

HARROW MIDDLESEX HA1 1PD

 

Telephone :                   02088634477

TPS                              Yes

FPS :                            No

Website :                      http://www.mtlinks.co.uk

Incorporation date :        04/04/2008

Type                             Private limited with share capital

Filing Date of account     27/07/2013

Share capital :               Euro 325,000

SIC07                           46770

Currency                       GBP

Activity                          Wholesale of waste and scrap

General metal merchants, including export of scrap metal. Accounts data converted from  US Dollars.

 

 

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

2

Total Current Secretaries

0

Total Previous Directors / Company Secretaries

4

 

Current Directors

Name

Yogesh Shah

Date of Birth

08/06/1960

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

04/04/2008

 

 

Address

48 Woodway Crescent, Harrow, Middlesex, HA1 2NQ

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Shriniwas Bajaj

Date of Birth

19/11/1973

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

17/04/2008

 

 

Address

5-9 Headstone Road, Harrow, Middlesex, HA1 1PD

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

 

Current Company Secretary

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

BSP SECRETARIAL LIMITED

66

9

TEMPLE SECRETARIES LIMITED

0

1

COMPANY DIRECTORS LIMITED

0

1

Kalavati Shah

0

1

N

 

nEGATIVE INFORMATION

 

Mortgage Summary

 

Total Mortgage  2

Outstanding                   1

Satisfied                        1

 

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

 

 

Mortgage Details

 

Mortgage Type:

DEBENTURE

Date Charge Created:

28/10/11

 

 

Date Charge Registered:

01/11/11

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

HSBC BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

 

Mortgage Type:

DEPOSIT AGREEMENT

Date Charge Created:

29/05/09

 

 

Date Charge Registered:

05/06/09

 

 

Date Charge Satisfied:

03/02/12

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

FIRLE INVESTMENTS LIMITED

Amount Secured:

 

Details:

FIVE THOUSAND POUNDS (£5,000.00)

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

MTC BUSINESS PRIVATE LTD

GBP

325,000

ORDINARY

1

100

 

PAYMENT INFORMATION

 

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade         0

Total Value of Documented Trade            £0

 

 

Trade Payment Information

Average Invoice Value

200.41

Invoices available

49

Paid

49

Outstanding

0

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

 

 

Average Invoice Value

£200.41

Invoices available

49

Paid

49

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

47

2

0

0

0

Outstanding

0

0

0

0

0

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

-

Ownership Status

Wholly Owned

Ultimate Holding Company

MTC BUSINESS PRIVATE LTD

 

 

 

 

Group structure

 

Company Name

 

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

MTC BUSINESS PRIVATE LTD

 

N/A

-

-

 

MULTI TRADE LINKS (UK)...

 

06555378

31.03.2013

N

£46,156,655

 

 

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

£46,156,655

-23.2%

£60,104,656

112.5%

£28,284,647

167.2%

£10,584,410

132.2%

£4,557,868

Export

£46,156,655

-23.2%

£60,104,655

112.5%

£28,284,647

167.2%

£10,584,410

132.2%

£4,557,868

Cost of Sales

£45,364,388

-23.3%

£59,129,300

112.5%

£27,824,806

171.6%

£10,246,579

132.9%

£4,399,233

Gross Profit

£792,268

-18.8%

£975,357

112.1%

£459,841

36.1%

£337,831

113%

£158,635

Wages & Salaries

£269,113

17.5%

£228,990

101.5%

£113,652

-

-

-

-

Directors Emoluments

£84,211

3.4%

£81,411

67%

£48,762

5.6%

£46,188

15.5%

£40,000

Operating Profit

£220,867

-54%

£479,736

136%

£203,282

211%

£65,369

3%

£63,446

Depreciation

£3,586

36.1%

£2,635

-0.8%

£2,657

49.1%

£1,782

233.7%

£534

Audit Fees

£7,776

-1.7%

£7,908

9.5%

£7,220

29.2%

£5,589

123.6%

£2,500

Interest Payments

£99,483

-56.7%

£229,991

31.8%

£174,472

-

-

-100%

£9,622

Pre Tax Profit

£121,398

-53.1%

£258,879

420.5%

£49,737

114.7%

£23,168

-57.1%

£53,973

Taxation

-£26,422

58.6%

-£63,789

-999.9%

-£4,794

20.8%

-£6,055

58.8%

-£14,682

Profit After Tax

£94,975

-51.3%

£195,090

334.1%

£44,943

162.6%

£17,113

-56.4%

£39,291

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

£94,975

-51.3%

£195,090

334.1%

£44,943

162.6%

£17,113

-56.4%

£39,291

 

Balance Sheet

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Tangible Assets

£6,650

60.3%

£4,149

-35.5%

£6,429

91.6%

£3,355

109.3%

£1,603

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£6,650

60.3%

£4,149

-35.5%

£6,429

91.6%

£3,355

109.3%

£1,603

Stock

£2,195,909

-7.4%

£2,371,999

19%

£1,993,920

234.3%

£596,383

-

0

Trade Debtors

£738,493

-37.8%

£1,187,564

350.5%

£263,619

-58%

£628,122

-61.3%

£1,621,913

Cash

£320,063

27.5%

£251,117

-41.3%

£427,785

223.7%

£132,174

12.9%

£117,098

Other Debtors

£701,560

-14.6%

£821,375

90.4%

£431,442

80.8%

£238,574

-30.4%

£342,860

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£3,956,024

-14.6%

£4,632,055

48.6%

£3,116,766

95.4%

£1,595,253

-23.4%

£2,081,871

Trade Creditors

£1,142,547

-9.5%

£1,261,879

92.5%

£655,531

159.1%

£252,955

-16.4%

£302,689

Bank Loans & Overdrafts

£1,583,009

-20%

£1,978,761

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-100%

£72,630

-73.5%

£273,633

-

0

Miscellaneous Current Liabilities

£509,627

17.6%

£433,254

45.9%

£296,931

204.9%

£97,383

-94.3%

£1,716,494

Total Current Liabilities

£3,235,183

-11.9%

£3,673,894

258.4%

£1,025,092

64.3%

£623,971

-69.1%

£2,019,183

Bank Loans & Overdrafts and LTL

£1,583,009

-31.4%

£2,308,555

16.9%

£1,975,490

120.1%

£897,635

-

0

Other Long Term Finance

0

-100%

£329,794

-83.3%

£1,975,490

120.1%

£897,635

-

0

Total Long Term Liabilities

0

-100%

£329,794

-83.3%

£1,975,490

120.1%

£897,635

-

0

 

Capital & Reserves

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Called Up Share Capital

£331,890

-

£331,890

999.9%

£23,490

0.9%

£23,288

-6.8%

£25,000

P & L Account Reserve

£395,601

31.6%

£300,626

203.3%

£99,122

84.5%

£53,713

36.7%

£39,291

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£727,491

15%

£632,516

415.9%

£122,612

59.2%

£77,002

19.8%

£64,291

 

Other Financial Items

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Net Worth

£727,491

15%

£632,516

415.9%

£122,612

59.2%

£77,002

19.8%

£64,291

Working Capital

£720,841

-24.8%

£958,160

-54.2%

£2,091,673

115.4%

£971,282

999.9%

£62,688

Total Assets

£3,962,674

-14.5%

£4,636,203

48.4%

£3,123,195

95.4%

£1,598,608

-23.3%

£2,083,474

Total Liabilities

£3,235,183

-19.2%

£4,003,688

33.4%

£3,000,582

97.2%

£1,521,607

-24.6%

£2,019,183

Net Assets

£727,491

15%

£632,516

415.9%

£122,612

59.2%

£77,002

19.8%

£64,291

 

 

Cash Flow

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Net Cashflow from Operations

£634,044

134.2%

-£1,852,714

-

-

-

-

-

-

Net Cashflow before Financing

£464,698

122.4%

-£2,078,122

-

-

-

-

-

-

Net Cashflow from Financing

-£395,752

-121.1%

£1,873,773

-

-

-

-

-

-

Increase in Cash

£68,946

133.7%

-£204,349

-

-

-

-

-

-

 

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

£727,491

-24.4%

£962,309

-54.1%

£2,098,102

115.3%

£974,637

999.9%

£64,291

Number of Employees

6

-

6

-

-

-

-

-

-

 

Auditors

REEVES & CO LLP

 

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 %

0.26

0.43

0.18

0.22

1.18

Current ratio

1.22

1.26

3.04

2.56

1.03

Sales/Net Working Capital

64.03

62.73

13.52

10.90

72.71

Gearing %

217.60

365

1611.20

1165.70

0

Equity in %

18.40

13.60

3.90

4.80

3.10

Creditor Days

9.01

7.64

8.43

8.69

24.17

Debtor Days

5.82

7.19

3.39

21.60

129.52

Liquidity/Acid Test

0.54

0.61

1.09

1.60

1.03

Return On Capital Employed %

16.68

26.90

2.37

2.37

83.95

Return On Total Assets Employed %

3.06

5.58

1.59

1.44

2.59

Current Debt Ratio

4.44

5.80

8.36

8.10

31.40

Total Debt Ratio

4.44

6.32

24.47

19.76

31.40

Stock Turnover Ratio %

4.75

3.94

7.04

5.63

-

Return on Net Assets Employed %

16.68

40.92

40.56

30.08

83.95

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

Commentary

No exact match CCJs are recorded against the company.

 

Sales in the latest trading period decreased 23.2% on the previous trading period.

 

Net Worth increased by 15% during the latest trading period.

 

 

A 14.5% decline in Total Assets occurred during the latest trading period.

 

Pre-tax profits decreased by 53.1% compared to the previous trading period.

 

The company saw an increase in their Cash Balance of 27.5% 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 company was established over 6 years ago.

 

 

 

Show more

Enquiries Trend

There have been 32 enquiries in the last 12 months.

There are an average of 3 reports taken each month.

 

 

3 MONTHS

6 MONTHS

9 MONTHS

Enquiries

8

19

24

 

 

 

Status History

No Status History found

 

Event History

Date

Description

09/04/2014

Annual Returns

06/08/2013

New Accounts Filed

06/08/2013

New Accounts Filed

08/04/2013

Annual Returns

13/11/2012

New Accounts Filed

13/11/2012

New Accounts Filed

11/04/2012

Annual Returns

21/02/2012

Change in Reg.Office

15/09/2011

New Accounts Filed

15/09/2011

New Accounts Filed

25/05/2011

Annual Returns

07/04/2011

Change in Reg.Office

07/04/2011

Change of Company Postcode

06/04/2011

BSP SECRETARIAL LIMITED has resigned as company secretary

16/10/2010

New Accounts Filed

 

 

Previous Company Names

No Previous Names found

 

 

NOTES & COMMENTS

 

Na

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.43

UK Pound

1

Rs.100.12

Euro

1

Rs.79.74

 

 

INFORMATION DETAILS

 

Report Prepared by :

SMN

 

 

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.