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Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
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Name : |
HILTON TEXTILES LIMITED |
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Registered Office : |
Kenton House 666 Kenton Road |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
17.06.2011 |
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Com. Reg. No.: |
07673575 |
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Legal Form : |
Private limited with
Share Capital |
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Line of Business : |
Wholesale of textiles |
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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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 |
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Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
|
NAME |
HILTON TEXTILES LIMITED |
Telephone |
|
|
ADDRESS |
Kenton House 666 Kenton Road Harrow Middlesex HA3
9QN United Kingdom |
Fax |
- |
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|
Website |
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Company
Number: |
07673575 |
Status: |
Active - Accounts Filed |
|
Foundation: |
17/06/2011 |
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|
No exact match CCJs
are recorded against the company. The credit limit on this company has risen
135% in comparison to the previously suggested credit limit. Net Worth
increased by 207.9% during the latest trading period. A 17.3% growth in Total
Assets occurred during the latest trading period. The company saw an increase
in their Cash Balance of 145.6%
during the latest trading period. The movement
in accumulated earnings would indicate that the company made a profit after tax
and other appropriations, including dividends.
There has been no significant change in the
company’s credit rating. 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 3 years ago.
Legal form
Private
limited with Share Capital
Foundation
17/06/2011
Company No.
07673575
Shareholders
|
Name |
Currency |
Number of
shares |
Share type |
Nominal value |
|
DAVID
LEE JOSEPH |
GBP |
500 |
ORDINARY |
1 |
|
DENISE
JOSEPH |
GBP |
500 |
ORDINARY |
1 |
|
Total Share
Capital |
GBP 1,000 |
|||
Management
|
Directors |
||||
|
Name |
Address: |
Date of birth |
Nationality |
Appointment
date |
Mr David Lee Joseph 68 Woodlands, London NW11 9QU 24/07/1972 British 17/06/2011
Secretary
No Secretary appointed
Other Known Addresses
46-48 Middlesex Street, Whitechapel,
London E1 7EX
Kenton House, 666 Kenton Road, Harrow,
Middlesex HA3 9QN
Business activities
Main activity
SIC03 Wholesale
of textiles
SIC07 Wholesale
of textiles
Turnover and Employees
|
Date of Accounts |
Turnover |
Employees |
|
31/12/2011 |
Not Stated |
Not Stated |
|
31/12/2012 |
Not Stated |
Not Stated |
|
31/12/2013 |
Not Stated |
Not Stated |
Events
|
Company history |
|
|
Date |
Action |
|
21/06/2011 |
New Board Member Mr D.L. Joseph appointed |
|
25/06/2012 |
Annual Returns |
|
15/10/2012 |
New Accounts Filed |
|
27/02/2013 |
New Accounts Filed |
|
29/06/2013 |
Annual Returns |
|
05/05/2014 |
New Accounts Filed |
|
30/06/2014 |
Annual Returns |
|
Mortgages |
|
|
Charge created |
09/11/2011 |
|
Charge registered |
16/11/2011 |
|
Status |
OUTSTANDING |
|
Entitled person |
BARCLAYS BANK PLC |
|
Secured amount |
ALL MONIES
DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
|
Mortgage detail |
THE CHARGE
CREATES A FIXED CHARGE OVER ALL THE DEPOSIT(S) REFERRED TO IN THE SCHEDULE TO
THE FORM MG01 (INCLUDING ALL OR ANY PART OF THE MONEY
PAYABLE PURSUANTTO SUCH DEPOSIT(S) AND THE DEBTS REPRESENTED THEREBY)
TOGETHER WITH ALL INTEREST FROM TIME TO TIME ACCRUING THEREON. IT ALSO
CREATES AN ASSIGNMENT BY THE CHARGORFOR THE PURPOSES OF AND TO GIVE EFFECT
TOTHE SECURITY OVER THE RIGHT OF THE CHARGOR TO REQUIRE REPAYMENT OF SUCH
DEPOSIT(S) AND INTEREST THEREON BARCLAYS BANK PLCRE HILTON TEXTILES LIMITED
ACTIVE SAVERAC-COUNT ACCOUNT NUMBER 83953238 |
County Court Judgments (CCJs)
There are no County Court Judgments listed
against this company
Profit & Loss
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 30 GBP Group: No |
|
Turnover |
0 |
0 |
0 |
|
Export |
- |
- |
- |
|
Cost of Sales |
- |
- |
- |
|
Gross Profit |
- |
- |
- |
|
Wages And Salaries |
0 |
0 |
0 |
|
Directors Emoluments |
- |
- |
- |
|
Operating Profit |
- |
- |
- |
|
Depreciation |
7,248 |
6,769 |
371 |
|
Audit Fees |
0 |
0 |
0 |
|
Interests Payments |
- |
- |
- |
|
Pre Tax Profit |
0 |
0 |
0 |
|
Taxation |
- |
- |
- |
|
Profit After Tax |
- |
- |
- |
|
Dividends Payable |
- |
- |
- |
|
Retained Profit |
- |
- |
- |
Balance Sheet
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 30 GBP Group: No |
|
Tangible Assets |
14,602 |
19,936 |
5,566 |
|
Intangible Assets |
558 |
630 |
702 |
|
Total Fixed Assets |
15,160 |
20,566 |
6,268 |
|
Stock |
957,699 |
906,711 |
407,340 |
|
Trade Debtors |
315,493 |
298,102 |
85,489 |
|
Cash |
286,424 |
116,607 |
75,575 |
|
Other Debtors |
0 |
0 |
0 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
|
Total Current Assets |
1,559,616 |
1,321,420 |
568,404 |
|
Trade Creditors |
1,171,436 |
1,210,543 |
565,750 |
|
Bank Loans and Overdraft |
0 |
0 |
0 |
|
Other Short Term Finance |
0 |
0 |
0 |
|
Miscellaneous Current Liabilities |
0 |
0 |
0 |
|
Total Current Liabilities |
1,171,436 |
1,210,543 |
565,750 |
|
Bank Loans and Overdrafts LTL |
0 |
0 |
0 |
|
Other Long Term Finance |
0 |
0 |
0 |
|
Total Long Term Liabilities |
0 |
0 |
0 |
Capital & Reserves
|
|
31/12/2013 52 GBP Group:
No |
31/12/2012 52 GBP Group:
No |
31/12/2011 30 GBP Group:
No |
|
Called Up Share Capital |
1,000 |
1,000 |
1,000 |
|
P and L Account Reserve |
402,340 |
130,443 |
7,922 |
|
Revaluation Reserve |
0 |
0 |
0 |
|
Sundry Reserves |
0 |
0 |
0 |
|
Shareholders Funds |
403,340 |
131,443 |
8,922 |
Other
Financial Items
|
|
31/12/2013 52 GBP Group:
No |
31/12/2012 52 GBP Group:
No |
31/12/2011 30 GBP Group:
No |
|
Net Worth |
402,782 |
130,813 |
8,220 |
|
Working Capital |
388,180 |
110,877 |
2,654 |
|
Total Assets |
1,574,776 |
1,341,986 |
574,672 |
|
Total Liabilities |
1,171,436 |
1,210,543 |
565,750 |
|
Net
Assets |
403,340 |
131,443 |
8,922 |
Cash Flow
|
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
|
52 |
52 |
30 |
|
|
GBP |
GBP |
GBP |
|
|
Group: No |
Group: No |
Group: No |
|
Net Cash Flow from Operations |
0 |
0 |
0 |
|
Net Cash Flow before Financing |
0 |
0 |
0 |
|
Net Cash Flow from Financing |
0 |
0 |
0 |
|
Increase in Cash |
169,817 |
41,032 |
0 |
Miscellaneous
|
|
31/12/2012 |
31/12/2013 |
31/12/2011 |
|
|
52 GBP Group: No |
52 GBP Group: No |
30 GBP Group: No |
|
Capital Employed |
131,443 |
403,340 |
8,922 |
Financial Ratios
|
Name |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
|
Pre Tax Profit Margin |
0.0% |
0.0% |
0.0% |
|
|
Current Ration |
1.33 |
1.09 |
1.00 |
|
|
Sales or Net Working Capital |
0.00 |
0.00 |
0.00 |
|
|
Gearing |
0.00 % |
0.00 % |
0.00 % |
|
|
Equity |
25.62 % |
9.80 % |
1.55 % |
|
|
Creditor Days |
0.00 |
0.00 |
0.00 |
|
|
Debtor Days |
0.00 |
0.00 |
0.00 |
|
|
Liquidity or Acid test |
0.51 |
0.34 |
0.28 |
|
|
Return on Capital Employed |
0.0% |
0.0% |
0.0% |
|
|
Return on Total Assets Employed |
0.0% |
0.0% |
0.0% |
|
|
Current Debt Ratio |
2.90 % |
9.20 % |
63.41 % |
|
|
Total Debt Ratio |
2.90 % |
9.20 % |
63.41 % |
|
|
Stock Turnover Ratio |
0.0% |
0.0% |
0.0% |
|
|
Return on Net Assets Employed |
0.0% |
0.0% |
0.0% |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
|
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
Report Prepared
by : |
SDA |
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.