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Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
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Name : |
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Formerly Known As : |
ZODIAC DESIGN AND SOURCING LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24.07.2013 |
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Com. Reg. No.: |
08623699 |
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Legal Form : |
Private limited with
Share Capital |
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Line of Business : |
Wholesale
of clothing and footwear |
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No of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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United Kingdom |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 KIGDOM - 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.
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Source
: CIA |
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FOND
CLOTHING LTD |
Telephone |
No
listings |
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1 HEDDON
STREET |
Fax |
- |
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MAYFAIR |
Website |
- |
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LONDON |
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W1B4BD |
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United
Kingdom |
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Company
Number: |
08623699 |
Status: |
Active -
Newly Incorporated |
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Foundation: |
24/07/2013 |
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No exact match CCJs are recorded
against the company.
There has
been no significant change in the company’s
credit limit. No recent changes in directorship are recorded. The company is not part of a group. Newer companies
are proven to be more of an insolvency risk than more established companies. The company
has changed its registered name recently.
The company was established over 12 months ago.
Legal form
Private limited with Share
Capital
Foundation
24/07/2013
Company No.
08623699
Previous Names
Date of
Change Previous
Name
09/09/2013
ZODIAC
DESIGN AND SOURCING LTD
Shareholders
Name Currency Number of shares Share type Nominal value
ANNAMMAMARGRET
JULIANA GBP 1 ORDINARY 1
DAVID
Total
Share Capital GBP 1
Management
Directors
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Name |
Address: |
Date of birth |
Nationality |
Appointment date |
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Miss Annamma
Margret Juliana
David |
1 Heddon
Street, Mayfair, London W1B 4BD |
03/07/1989 |
British |
24/07/2013 |
Secretary
No
Secretary appointed
Other
Known Addresses
1 Heddon Street, Mayfair, London W1B4BD
Main
activity
SIC03 Wholesale of clothing
and footwear
SIC07 Wholesale of clothing and footwear
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Turnover
and Employees |
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Turnover |
Employees |
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Not
Stated |
Not
Stated |
Events
Company
history
Date Action
26/07/2013
New Board Member Miss
A.M. David appointed
11/09/2013 Change
of Name Annual Returns
20/10/2014
Annual Returns
Mortgages
Charge
created 21/08/2014
Charge
registered 21/08/2014
Status OUTSTANDING
Entitled
person HSBC BANK PLC;
Mortgage
detail A GENERAL PLEDGECONTAINS FIXED
CHARGE.CONTAINS NEGATIVE PLEDGE
Charge
created 21/08/2014
Charge
registered 21/08/2014
Status OUTSTANDING
Entitled
person HSBC BANK PLC;
Mortgage detail A FIXED AND FLOATING CHARGE OVER ALL ASSETSCONTAINS FIXED
CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR
UNDERTAKING OF THE COMPANYCONTAINS NEGATIVE PLEDGE.
County
Court Judgments (CCJs)
There are
no County Court Judgments listed against this company
No
financial statement filed
Remarks
No trading details have yet been published.
The first financial statement is due to be filed by 24.04.2015. We have been
unable to locate and contact this company. There are no listed occupants for
the address given and no public telephone contact details for the company or
the principal. Difficult to assess the actual situation and remains to be seen
how it develops.
Activities: Wholesale clothing
Bank: HSBC Bank Plc
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.85 |
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1 |
Rs.96.73 |
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Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
SMN |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.