|
Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
MCGREGOR BALFOUR (TEXTILES) LIMITED |
|
|
|
|
Registered Office : |
37
Fairfield Road, Broughty, Ferry, Dundee Angus Dd51pl |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.07.2013 |
|
|
|
|
Date of Incorporation : |
21.06.2004 |
|
|
|
|
Com. Reg. No.: |
SC269581 |
|
|
|
|
Legal Form : |
Private Limited With Share Capital |
|
|
|
|
Line of Business : |
·
Retail
sale of textiles ·
Retail
sale of textiles I specialized stores |
|
|
|
|
No of Employees : |
Not Available |
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 – 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 |
MCGREGOR
BALFOUR (TEXTILES) LIMITED
37
Fairfield Road, Broughty
Ferry,
Dundee
Angus
Dd51pl
United
Kingdom
Telephone +44 013 8273 2767
Fax -
Website www.mcgregor-balfour.com
Company Number: SC269581
Foundation: 21/06/2004
Status: Active-Accounts Filed
|
Payment experience and credit opinion |
No
exact match CCJs are recorded against the company. The company's credit rating has
increased from 19 to 38 which indicates it is creditworthy. A 63.1% growth in
Total Assets occurred during the latest trading period. The company saw an
increase in their Cash Balance of 14.4% during the latest trading period.
Net
Worth decreased by 5.2% during the latest trading period. The movement in
accumulated earnings would indicate that the company incurred a loss after tax
and other appropriations, including dividends.
There
has been no significant change in the company's credit limit. There is
insufficient data to indicate a change in this company's percentage of sales.
There is insufficient data to indicate a change in this company's pre-tax
profit. The company is exempt from audit. No recent changes in directorship are
recorded. The company is not part of a group. The company was established over
10 years ago.
Legal form
Private
limited with Share Capital
Foundation
21/06/2004
Company No.
SC269581
|
Name |
Currency |
Number
of shares |
Share
type |
Nominal
value |
|
MRS
ANNE ALEXANDRA THOMSON |
GBP |
1 |
REDEEMABLE
PREFERENCE |
1 |
|
MRS
ANNE ALEXANDRA THOMSON |
GBP |
12 |
ORDINARY
A |
1 |
|
MRS
ANNE ALEXANDRA THOMSON |
GBP |
88 |
ORDINARY |
1 |
|
Total
Share Capital |
GBP
101 |
|||
|
Directors |
||||
|
Name |
Address: |
Date of birth |
Nationality |
Appointment date |
|
Mrs Anne Alexandra
Thomson |
37 Fairfield Road,
Broughty Ferry, Dundee DD5 1PL |
24/10/1953 |
British |
21/06/2004 |
|
Company Secretary |
||
|
Name |
Address: |
Appointment date |
|
Ms Fiona Winifred McIntosh |
Invergrange, Grange Road,
Monifieth, Angus DD5 4PT |
15/10/2007 |
37
Fairfield Road, Broughty Ferry, Dundee, Angus DD5 1PL
|
Main activity |
|
|
Principal Activity |
Retail sale of
textiles. |
|
SIC03 |
Retail sale of
textiles |
|
SIC07 |
Retail sale of
textiles I specialized stores |
Turnover and Employees
|
Date
of Accounts |
Turnover |
Employees |
|
31/07/2011 |
Not
Stated |
Not
Stated |
|
31/07/2012 |
Not
Stated |
Not
Stated |
|
31/07/2013 |
Not
Stated |
Not
Stated |
Events
|
Company History |
|
|
Date |
Action |
|
19/04/2010 |
New Accounts Filed |
|
26/06/2010 |
Annual Returns |
|
30/03/2011 |
New Accounts Filed |
|
02/07/2011 |
Annual Returns |
|
05/10/2011 |
New Accounts Filed |
|
06/07/2012 |
Annual Returns |
|
28/12/2012 |
New Accounts Filed |
|
05/08/2013 |
Annual Returns |
|
05/08/2013 |
Annual Returns |
|
12/12/2013 |
New Accounts Filed |
|
26/06/2014 |
Annual Returns |
|
Mortgages |
|
|
Charge created |
05/08/2004 |
|
Charge registered |
12/08/2004 |
|
Status |
OUTSTANDING |
|
Entitled person |
THE ROYAL BANK OF
SCOTLAND PLC |
|
Secured amount |
ALL SUMS DUE OR TO
BECOME DUE |
|
Mortgage detail |
UNDERTAKING AND ALL
PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY INCLUDING UNCALLED
CAPITAL |
|
Charge created |
11/08/2004 |
|
Charge registered |
17/08/2004 |
|
Status |
OUTSTANDING |
|
Entitled person |
THE ROYAL BANK OF SCOTLAND
COMMERCIAL SERVICES LIMITED |
|
Secured amount |
ALL SUMS DUE OR TO
BECOME DUE |
|
Mortgage detail |
OTHER DEBTS AND
NON-VESTING DEBTS |
County Court
Judgments (CCJs)
There are no County
Court Judgments listed against this company
PROFIT & LOSS
|
|
31/07/2013 52 GBP Group: No |
31/07/2012 52 GBP Group: No |
31/07/2011 52 GBP Group: No |
31/07/2010 52 GBP Group: No |
|
Turnover |
0 |
0 |
0 |
0 |
|
Export |
- |
- |
- |
- |
|
Cost
of Sales |
- |
- |
- |
- |
|
Gross
Profit |
- |
- |
- |
- |
|
Wages
And Salaries |
0 |
0 |
0 |
0 |
|
Directors
Emoluments |
- |
- |
- |
- |
|
Operating
Profit |
- |
- |
- |
- |
|
Depreciation |
0 |
0 |
0 |
612 |
|
Audit
Fees |
0 |
0 |
0 |
0 |
|
Interests
Payments |
- |
- |
- |
- |
|
Pre
Tax Profit |
0 |
0 |
0 |
0 |
|
Taxation |
- |
- |
- |
- |
|
Profit
After Tax |
- |
- |
- |
- |
|
Dividends
Payable |
- |
- |
- |
- |
|
Retained
Profit |
- |
- |
- |
- |
BALANCE SHEET
|
|
31/07/2013 52 GBP Group:
No |
31/07/2012 52 GBP Group:
No |
31/07/2011 52 GBP Group:
No |
31/07/2010 52 GBP Group:
No |
|
Tangible
Assets |
0 |
0 |
0 |
2,447 |
|
Intangible
Assets |
0 |
0 |
0 |
0 |
|
Total
Fixed Assets |
0 |
0 |
0 |
2,447 |
|
Stock |
2,861 |
2,861 |
2,936 |
21,866 |
|
Trade
Debtors |
16,320 |
7,860 |
26,009 |
5,894 |
|
Cash |
3,985 |
3,482 |
250 |
446 |
|
Other
Debtors |
0 |
0 |
0 |
0 |
|
Miscellaneous
Current Assets |
0 |
0 |
0 |
0 |
|
Total
Current Assets |
23,166 |
14,203 |
29,195 |
28,206 |
|
Trade
Creditors |
21,484 |
9,012 |
31,868 |
23,324 |
|
Bank
Loans and Overdraft |
0 |
0 |
0 |
0 |
|
Other
Short Term Finance |
0 |
0 |
0 |
0 |
|
Miscellaneous
Current Liabilities |
0 |
0 |
0 |
0 |
|
Total
Current Liabilities |
21,484 |
9,012 |
31,868 |
23,324 |
|
Bank
Loans and Overdrafts LTL |
257,119 |
247,900 |
229,948 |
222,957 |
|
Other
Long Term Finance |
0 |
0 |
0 |
0 |
|
Total
Long Term Liabilities |
257,119 |
247,900 |
229,948 |
222,957 |
CAPITAL & RESERVES
|
|
31/07/2013 52 GBP Group: No |
31/07/2012 52 GBP Group: No |
31/07/2011 52 GBP Group: No |
31/07/2010 52 GBP Group: No |
|
Called Up Share Capital |
140 |
140 |
140 |
140 |
|
P and L Account Reserve |
-280,542 |
-267,814 |
-257,726 |
-240,733 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
24,965 |
24,965 |
24,965 |
24,965 |
|
Shareholders Funds |
-255,437 |
-242,709 |
-232,621 |
-215,628 |
OTHER FINANCIAL ITEMS
|
|
31/07/2013 52 GBP Group: No |
31/07/2012 52 GBP Group: No |
31/07/2011 52 GBP Group: No |
31/07/2010 52 GBP Group: No |
|
Net Worth |
-255,437 |
-242,709 |
-232,621 |
-215,628 |
|
Working
Capital |
1,682 |
5,191 |
-2,673 |
4,882 |
|
Total Assets |
23,166 |
14,203 |
29,195 |
30,653 |
|
Total
Liabilities |
278,603 |
256,912 |
261,816 |
246,281 |
|
Net Assets |
-255,437 |
-242,709 |
-232,621 |
-215,628 |
CASH FLOW
|
|
31/07/2013 |
31/07/2012 |
31/07/2011 |
31/07/2010 |
|
|
52 |
52 |
52 |
52 |
|
|
GBP |
GBP |
GBP |
GBP |
|
|
Group: No |
Group: No |
Group: No |
Group: No |
|
Net Cash Flow from Operations |
0 |
0 |
0 |
0 |
|
Net Cash Flow before Financing |
0 |
0 |
0 |
0 |
|
Net Cash Flow from Financing |
0 |
0 |
0 |
0 |
|
Increase in Cash |
503 |
3,232 |
-196 |
81 |
MISCELLANEOUS
|
|
31/07/2013 |
31/07/2012 |
31/07/2011 |
31/07/2010 |
|
|
52 |
52 |
52 |
52 |
|
|
GBP |
GBP |
GBP |
GBP |
|
|
Group: No |
Group: No |
Group: No |
Group: No |
|
Capital Employed |
1,682 |
5,191 |
-2,673 |
7,329 |
FINANCIAL RATIO
|
Name |
31/07/2013 |
31/07/2012 |
31/07/2011 |
31/07/2010 |
|
Pre
Tax Profit Margin |
0.0% |
0.0% |
0.0% |
0.0% |
|
Current
Ration |
1.08 |
1.58 |
0.92 |
1.21 |
|
Sales
or Net Working Capital |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gearing |
-100.66 % |
-102.14% |
-98.85 % |
-103.40 % |
|
Equity |
-1102.64 % |
-1708.86% |
-796.78 % |
-703.45 % |
|
Creditor
Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Debtor
Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liquidity
or Acid test |
0.94 |
1.25 |
0.82 |
0.27 |
|
Return
on Capital Employed |
0.0% |
0.0% |
0.0% |
0.0% |
|
Return
on Total Assets Employed |
0.0% |
0.0% |
0.0% |
0.0% |
|
Current
Debt Ratio |
-0.08 % |
-0.03 % |
-0.13 % |
-0.10% |
|
Name |
31/07/2013 |
31/07/2012 |
31/07/2011 |
31/07/2010 |
|
Total Debt Ratio |
-1.09% |
-1.05
% |
-1.12
% |
-1.14% |
|
Stock Turnover Ratio |
0.0% |
0.0% |
0.0% |
0.0% |
|
Return on Net Assets Employed |
0.0% |
0.0% |
0.0% |
0.0% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
|
1 |
Rs.97.69 |
|
Euro |
1 |
Rs.77.37 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.