MIRA INFORM REPORT

 

 

Report Date :

16.12.2014

 

IDENTIFICATION DETAILS

 

Name :

ALPHA CREATIONS LIMITED

 

 

Registered Office :

125 Eastern Avenue, Redbridge, IL Ford, Essex, IG4 5AN

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.06.2013

 

 

Date of Incorporation :

24.06.1996

 

 

Com. Reg. No.:

03215701

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

·         Importers and exporters of governments.

·         Wholesale of clothing and footwear.

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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

Company identification

 

ALPHA CREATIONS LIMITED

Telephone

+44 020 8550 7558

125 Eastern Avenue

Fax

-

Redbridge

Website

www.stock-basket.com

Ilford

 

 

Essex

 

 

Ig4 5an

 

 

United Kingdom

 

 

 

Company Number:

03215701

Status:

Active - Accounts Filed

Foundation:

24/06/1996

 

 

 

 

 

Main indices

 

Payment experience and credit opinion

 

 

Comments

 

The company saw an increase in their Cash Balance of 211.9% during the latest trading period.

 

Multiple CCJ's recorded against the company. Net Worth decreased by 16.1% during the latest trading period. A 7.9% decline in Total Assets occurred 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 rating. 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 18 years ago.

 

 

Basic information

 

Legal form

Private limited with Share Capital

 

Foundation

24/06/1996

 

Company No.

03215701

Shareholders

 

Name

Currency

Number of shares

Share type

Nominal value

MR M.L. SHEWAKRAMANI

GBP

500

ORDINARY

1

MRS B. SHEWAKRAMANI

GBP

500

ORDINARY

1

Total Share Capital

GBP 1,000

 

 

Management

 

Directors

Name

Address:

Date of birth

Nationality

Appointment date

Mr. Moti Lokumal Shewakramani

125 Eastern Avenue, Redbridge, Ilford, Essex IG4 5AN

01/05/1955

British

24/06/1996

Mrs. Bina Moti Shewakramani

125 Eastern Avenue, Redbridge, Ilford, Essex IG4 5AN

25/08/1965

British

03/09/2001

 

Company Secretary

Name

Address:

Appointment date

Mrs. Bina Moti Shewakramani

122a Long Green, Chigwell, Essex IG7 4JE

24/06/1996

 

Other Known Addresses

 

125 Eastern Avenue, Redbridge, Ilford, Essex IG4 5AN

 

 

Business Activities

 

Main activity

Principal Activity

Importers and exporters of governments.

SIC03

Wholesale of clothing and footwear

SIC07

Wholesale of clothing and footwear

 

Economic data

 

Turnover and Employees

 

Date of Accounts

Turnover

Employees

30/06/2011

Not Stated

Not Stated

30/06/2012

Not Stated

Not Stated

30/06/2013

Not Stated

Not Stated

 

Supplementary data

 

 

Events

 

County Court Judgments (CCJs)

Date

Amount

Court

Case number

Status

Date paid

01/12/2011

GBP 147

NORTHAMPTON CCBC

1QG72978

Judgement

-

23/06/2014

GBP 1672

COUNTY COURT

BUSINESS CENTRE

A6QG4244

Judgement

-

 

Company history

Date

Action

06/07/2010

New Accounts Filed

06/07/2010

New Accounts Filed

10/09/2010

Annual Returns

06/07/2011

New Accounts Filed

24/08/2011

Annual Returns

19/09/2012

New Accounts Filed

24/08/2013

Annual Returns

17/09/2013

New Accounts Filed

23/12/2013

Annual Returns

23/12/2013

Annual Returns

02/04/2014

New Accounts Filed

03/09/2014

Annual Returns

 

 

Mortgages

 

Charge created

24/05/2007

Charge registered

06/06/2007

Status

OUTSTANDING

Entitled person

UNITED BUSINESS FINANCE LIMITED

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONED INSTRUMENT CREATING OR EV­IDENCING THE CHARGE

Mortgage detail

ALL F/H AND L/H PROPERTY PLANT AND MACHINERY, BOOK DEBTS, GOODWILL,

UNCALLED CAPITAL SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DE­TAILS

 

Accounts

 

Profit & Loss

 

 

30/06/2013

52

GBP

Group: No

30/06/2012

52

GBP

Group: No

30/06/2011

52

GBP

Group: No

30/06/2010

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

-

-

-

-

 

 

30/06/2013

52

GBP

Group: No

30/06/2012

52

GBP

Group: No

30/06/2011

52

GBP

Group: No

30/06/2010

52

GBP

Group: No

Depreciation

1,486

569

2,373

1,267

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

 

 

30/06/2013

52

GBP

Group: No

30/06/2012

52

GBP

Group: No

30/06/2011

52

GBP

Group: No

30/06/2010

52

GBP

Group: No

Tangible Assets

4,458

1,707

2,276

3,798

Intangible Assets

0

0

0

0

Total Fixed Assets

4,458

1,707

2,276

3,798

Stock

99,163

96,738

123,863

77,156

Trade Debtors

130,783

156,856

187,426

272,062

Cash

1,157

371

371

421

Other Debtors

0

0

0

0

Miscellaneous Current Assets

0

0

0

0

Total Current Assets

231,103

253,965

311,660

349,639

Trade Creditors

264,220

280,358

304,899

320,315

Bank Loans and Overdraft

0

0

0

0

Other Short Term Finance

0

0

0

18,094

Miscellaneous Current Liabilities

0

0

0

0

Total Current Liabilities

264,220

280,358

304,899

338,409

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

 

Capital & Reserves

 

 

30/06/2013

52

GBP

Group: No

30/06/2012

52

GBP

Group: No

30/06/2011

52

GBP

Group: No

30/06/2010

52

GBP

Group: No

Called Up Share Capital

1,000

1,000

1,000

1,000

P and L Account Reserve

-29,659

-25,686

8,037

14,028

Revaluation Reserve

0

0

0

0

Sundry Reserves

0

0

0

0

Shareholders Funds

-28,659

-24,686

9,037

15,028

 

Other Financial Items

 

 

30/06/2013

52

GBP

Group: No

30/06/2012

52

GBP

Group: No

30/06/2011

52

GBP

Group: No

30/06/2010

52

GBP

Group: No

Net Worth

-28,659

-24,686

9,037

15,028

Working Capital

-33,117

-26,393

6,761

11,230

Total Assets

235,561

255,672

313,936

353,437

Total Liabilities

264,220

280,358

304,899

338,409

Net Assets

-28,659

-24,686

9,037

15,028

 

Cash Flow

 

 

30/06/2013

30/06/2012

30/06/2011

30/06/2010

 

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

786

0

-50

-41,348

 

Miscellaneous

 

 

30/06/2013

52

GBP

Group: No

30/06/2012

52

GBP

Group: No

30/06/2011

52

GBP

Group: No

30/06/2010

52

GBP

Group: No

Capital Employed

-28,659

-24,686

9,037

15,028

 

 

Financial Ratios

 

Name

30/06/2013

30/06/2012

30/06/2011

30/06/2010

Pre Tax Profit Margin

0.0%

0.0%

0.0%

0.0%

Current Ration

0.87

0.91

1.02

1.03

Sales or Net Working Capital

0.00

0.00

0.00

0.00

Gearing

0.00 %

0.00 %

0.00 %

0.00 %

Equity

-12.17%

-9.66 %

2.88 %

4.25 %

Creditor Days

0.00

0.00

0.00

0.00

Debtor Days

0.00

0.00

0.00

0.00

Liquidity or Acid test

0.49

0.56

0.61

0.80

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

-9.21 %

-11.35 %

33.73 %

22.51 %

Total Debt Ratio

-9.21 %

-11.35 %

33.73 %

22.51 %

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.62.65

UK Pound

1

Rs.98.53

Euro

1

Rs.78.02

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

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%)

 

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.