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Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
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Name : |
MALA LEATHER LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
01.02.2007 |
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Com. Reg. No.: |
06076928 |
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Legal Form : |
Private limited with Share
Capital |
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Line of Business : |
Engaged in Retail Sale of Leather Goods such as Fashion Handbags and accessories |
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No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to part
any information from the company management.] |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 |
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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 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.
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Source : CIA |
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MALA LEATHER LTD |
01827 67401 |
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1-2 LEGGE
LANE |
Fax |
- |
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BIRMINGHAM |
Website |
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WEST MIDLANDS |
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B1 3LD |
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United Kingdom |
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Company Number: 06076928 Foundation: 01/02/2007 |
Status: VAT No: |
Active - Accounts Filed N/A |
No exact match CCJs are recorded against the
company. Net Worth increased by 449% during the latest trading period.
A 102.8% growth in Total Assets occurred during the latest trading period.
The company saw an increase in their Cash Balance of 7.5% 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 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 7 years ago.
Private limited with Share Capital
01/02/2007
06076928
Name Currency Number
of Share type Nominal value
Shares
JANETTE THERESE FAULKNER GBP 510 ORDINARY 1
STEVEN MICHAEL FAULKNER GBP 490 ORDINARY 1
Total Share Capital GBP 1,000
|
Directors |
||||
|
Name |
Address: |
Date of birth |
Nationality |
Appointment date |
|
Mr Steven Michael Faulkner |
62 Hilltop Avenue, Gillway, Tamworth, Staffordshire B79 8QA |
20/09/1971 |
British |
01/02/2007 |
|
Mrs Janette Therese Faulkner |
62 Hilltop Avenue, Gillway, Tamworth, Staffordshire B79 8QA |
04/03/1976 |
Irish |
01/02/2007 |
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Company
Secretary |
||
|
Name |
Address: |
Appointment date |
|
Mrs Janette Therese Faulkner |
62 Hilltop Avenue, Gillway, Tamworth, Staffordshire B79 8QA |
01/02/2007 |
1-2 Legge Lane, Birmingham, West Midlands B1
3LD
Main activity
Engaged in Retail Sale of Leather Goods such as Fashion Handbags and accessories
Company history
|
Date |
Action |
|
|
05/01/2010 |
New Accounts Filed |
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|
24/04/2010 |
Annual Returns |
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26/11/2010 |
Change in Reg.Office |
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26/11/2010 |
Change of Company Postcode |
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02/12/2010 |
New Accounts Filed |
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02/12/2010 |
New Accounts Filed |
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18/03/2011 |
Annual Returns |
|
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30/11/2011 |
Change in Reg.Office |
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30/11/2011 |
Change of Company Postcode |
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03/12/2011 |
New Accounts Filed |
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|
23/03/2012 |
Annual Returns |
|
|
20/09/2012 |
Change in Reg.Office |
|
|
20/09/2012 |
Change of Company Postcode |
|
|
01/12/2012 |
New Accounts Filed |
|
|
24/04/2013 |
Annual Returns |
|
|
04/12/2013 |
New Accounts Filed |
|
|
06/06/2014 |
Annual Returns |
|
|
Charge created |
14/05/2012 |
|
|
Charge registered |
24/05/2012 |
|
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Status |
OUTSTANDING |
|
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Entitled person |
JANETTE THERESE FAULKNER |
|
|
Secured amount |
GBP 160,000.00 AND ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE |
|
|
Mortgage detail |
UNIT 2 BRIDGESIDE TRADING ESTATE KETTLEBROOK ROAD TAMWORTH STAFFORDSHIRE AND ALL COVENANTS RIGHTS
AFFECTING AND CONCERNING THE PROPERTY |
|
(CCJs)
There are no County Court Judgments listed
against this company
|
|
52 GBP Group: No |
29/02/2012 52 GBP Group: No |
28/02/2011 52 GBP Group: No |
28/02/2010 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 |
4,254 |
1,268 |
1,125 |
342 |
|
Audit Fees |
0 |
0 |
0 |
0 |
|
Interests Payments |
- |
- |
- |
- |
|
Pre Tax Profit |
0 |
0 |
0 |
0 |
|
Taxation |
- |
- |
- |
- |
|
Profit After
Tax |
- |
- |
- |
- |
|
Dividends Payable |
- |
- |
- |
- |
|
|
52 GBP Group: No |
29/02/2012 52 GBP Group: No |
28/02/2011 52 GBP Group: No |
28/02/2010 52 GBP Group: No |
|
Tangible Assets |
153,016 |
16,131 |
8,456 |
5,627 |
|
Intangible Assets |
0 |
15,000 |
15,000 |
15,000 |
|
Total Fixed Assets |
153,016 |
31,131 |
23,456 |
20,627 |
|
Stock |
75,832 |
51,638 |
63,024 |
41,997 |
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Trade Debtors |
61,013 |
37,192 |
36,836 |
10,508 |
|
Cash |
52,492 |
48,814 |
18,859 |
46,012 |
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Other Debtors |
0 |
0 |
0 |
0 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total Current Assets |
189,337 |
137,644 |
118,719 |
98,517 |
|
Trade Creditors |
323,132 |
159,282 |
139,626 |
110,627 |
|
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 |
323,132 |
159,282 |
139,626 |
110,627 |
|
Bank Loans and Overdrafts LTL |
0 |
0 |
0 |
0 |
|
Other Long Term Finance |
0 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
0 |
0 |
0 |
0 |
|
|
52 GBP Group: No |
29/02/2012 52 GBP Group: No |
28/02/2011 52 GBP Group: No |
28/02/2010 52 GBP Group: No |
|
Called Up Share Capital |
1,000 |
1,000 |
1,000 |
1,000 |
|
P and L Account Reserve |
18,221 |
8,493 |
1,549 |
7,517 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
19,221 |
9,493 |
2,549 |
8,517 |
|
|
52 GBP Group: No |
29/02/2012 52 GBP Group: No |
28/02/2011 52 GBP Group: No |
28/02/2010 52 GBP Group: No |
|
Net Worth |
19,221 |
-5,507 |
-12,451 |
-6,483 |
|
Working Capital |
-133,795 |
-21,638 |
-20,907 |
-12,110 |
|
Total Assets |
342,353 |
168,775 |
142,175 |
119,144 |
|
Total
Liabilities |
323,132 |
159,282 |
139,626 |
110,627 |
|
Net
Assets |
19,221 |
9,493 |
2,549 |
8,517 |
|
|
52 GBP Group: No |
29/02/2012 52 GBP Group: No |
28/02/2011 52 GBP Group: No |
28/02/2010 52 GBP 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 |
3,678 |
29,955 |
-27,153 |
11,897 |
|
|
52 GBP Group: No |
29/02/2012 52 GBP Group: No |
28/02/2011 52 GBP Group: No |
28/02/2010 52 GBP Group: No |
|
Capital Employed |
19,221 |
9,493 |
2,549 |
8,517 |
|
Name
|
28/02/2013 |
29/02/2012 |
28/02/2011 |
28/02/2010 |
|
Pre Tax Profit
Margin |
0.0% |
0.0% |
0.0% |
0.0% |
|
Current Ration |
0.59 |
0.86 |
0.85 |
0.89 |
|
Sales or Net Working Capital |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gearing |
0.00 % |
0.00 % |
0.00 % |
0.00 % |
|
Equity |
5.61 % |
6.17 % |
2.00 % |
8.18 % |
|
Creditor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Debtor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liquidity or Acid test |
0.35 |
0.53 |
0.39 |
0.51 |
|
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 |
16.81 % |
16.77 % |
54.77 % |
12.98 % |
|
Total Debt Ratio |
16.81 % |
16.77 % |
54.77 % |
12.98 % |
|
Stock Turnover Ratio |
0.0% |
0.0% |
0.0% |
0.0% |
|
Return on Net Assets
Employed |
0.0% |
0.0% |
0.0% |
0.0% |
Remarks
Only abbreviated financial statement has been filed. In2012/2013 Post Appropriation Profit amounted to GBP 9,728 (2011/2012 Profit GBP 6,944). The general financial position seems to be in order and good reserves are being built up. Remains to be seen how it further performed in 2013/2014.
Activity: Engaged in Retail Sale of Leather Goods such as Fashion Handbags and accessories
Trading Address: 2 Bridgeside Trading Estate Kettlebrook Road Tamworth B77 1AG
Branches: None
Employees: Few staff
Bank: HSBC Bank PLC
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
UK Pound |
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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.