|
Report Date : |
04.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
UNITED TRADEX LTD |
|
|
|
|
Registered Office : |
3 Tithe Lane Wraysbury Staines, TW19 5NQ |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
30.04.2012 |
|
|
|
|
Date of Incorporation : |
14.04.2010 |
|
|
|
|
Com. Reg. No.: |
07222777 |
|
|
|
|
Legal Form : |
Private Independent |
|
|
|
|
Line of Business : |
Manufacturer of fragrances, luxuriant hair and body products |
|
|
|
|
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 : |
Unknown |
|
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 second largest economy in Europe after Germany. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. 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, account by far for the largest proportion of GDP while industry continues to decline in importance. 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. Sharply declining 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 include 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 over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of 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 up to £375 billion (approximately $605 billion) as of December 2012. 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. GDP fell 0.1%, and the budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued to increase
|
Source
: CIA |
|
UNITED TRADEX LTD |
|
|
|
|
|
|
Industry |
|
|
ANZSIC 2006: |
|
|
ISIC Rev 4: |
|
|
NACE Rev 2: |
|
|
NAICS 2012: |
|
|
UK SIC 2007: |
|
|
US SIC 1987: |
|
|
|
|
|
Registered No.(UK): 07222777
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.627861
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6148738
|
|
|
|||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||
|
|
|
Individual
Directors |
|||||||
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of
Directorships |
|
|
Current |
03 Jan 1969 |
Palm Spring
Society 3 Geet Govind, |
14 Apr 2010 |
NA |
Current:1 |
|
|
|
Current |
20 Jul 1960 |
3 Tithe Lane, |
03 May 2013 |
NA |
Current:1 |
|
|
|
Previous |
18 Sep 1959 |
Woodford Cottage
30 Queen Street, |
14 Apr 2010 |
10 Jul 2013 |
Current:0 |
|
|
|
Previous |
20 Jul 1960 |
3 Tithe Lane, |
14 Apr 2010 |
30 Jun 2010 |
Current:1 |
|
|
|
Previous |
17 Nov 1982 |
278 Wingrove Avenue,
|
13 Jun 2012 |
03 May 2013 |
Current:2 |
|
|
|
|
|
||||||
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
Corporate Directors |
|
There are no corporate directors for this company. |
|
|
|
Individual Secretaries |
|||||||
|
There are no individual secretaries for this company. |
|||||||
|
|
|
|
|
|
|
|
|
|
Corporate Secretaries |
|
There are no corporate secretaries for this company. |
|
|
|
Individual Shareholders |
||||||
|
Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
David Arthur Keith Williams |
1 Ordinary GBP 1.00 |
Ordinary |
1 |
1.00 |
1.00 |
33.33 |
|
Khadija Butt |
1 Ordinary GBP 1.00 |
Ordinary |
1 |
1.00 |
1.00 |
33.33 |
|
Sadanand Pandey |
1 Ordinary GBP 1.00 |
Ordinary |
1 |
1.00 |
1.00 |
33.33 |
|
|
|
|
|
|
|
|
|
Corporate Shareholders |
|
There are no corporate shareholders for this company. |
|
|
|
|
30-Apr-2012 |
30-Apr-2011 |
|
Period Length |
52 Weeks |
54 Weeks |
|
Filed Currency |
GBP |
GBP |
|
Exchange Rate (Period Average) |
0.627861 |
0.640008 |
|
Consolidated |
No |
No |
|
|
|
|
|
|
|
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
|
30-Apr-2012 |
30-Apr-2011 |
|
Filed Currency |
GBP |
GBP |
|
Exchange Rate |
0.614874 |
0.599538 |
|
Consolidated |
No |
No |
|
|
|
|
|
Land &
Buildings |
0.0 |
0.0 |
|
Fixtures &
Fittings |
0.0 |
0.0 |
|
Plant & Vehicles |
0.0 |
0.0 |
|
Total Tangible
Fixed Assets |
0.0 |
0.0 |
|
Intangible Assets |
0.0 |
0.0 |
|
Investments |
0.0 |
0.0 |
|
Total Fixed Assets |
0.0 |
0.0 |
|
Stocks |
0.0 |
0.0 |
|
Work in Progress |
0.0 |
0.0 |
|
Total Stocks Work
In Progress |
0.0 |
0.0 |
|
Trade Debtors |
0.0 |
0.0 |
|
Inter-Company
Debtors |
0.0 |
0.0 |
|
Director Loans |
0.0 |
0.0 |
|
Other Debtors |
0.0 |
0.0 |
|
Total Debtors |
0.0 |
0.0 |
|
Cash and
Equivalents |
0.0 |
0.0 |
|
Other Current
Assets |
0.0 |
0.0 |
|
Total Current
Assets |
0.0 |
0.0 |
|
Total Assets |
0.0 |
0.0 |
|
Trade Creditors |
0.0 |
- |
|
Bank Overdraft |
0.0 |
- |
|
Inter-Company
Creditors |
0.0 |
- |
|
Director Loans
(Current Liability) |
0.0 |
- |
|
Hire Purchase
(Current Liability) |
0.0 |
- |
|
Finance Lease (Current
Liability) |
0.0 |
- |
|
Total Finance
Lease/Hire Purchase (Current Liability) |
0.0 |
- |
|
Total Short Term
Loans |
0.0 |
- |
|
Accruals/Deferred
Income (Current Liability) |
0.0 |
- |
|
Social
Security/VAT |
0.0 |
- |
|
Corporation Tax |
0.0 |
- |
|
Dividends (Current
Liability) |
0.0 |
- |
|
Other Current
Liabilities |
0.0 |
0.0 |
|
Total Current
Liabilities |
0.0 |
0.0 |
|
Group Loans (Long
Term Liability) |
0.0 |
0.0 |
|
Director Loans
(Long Term Liability) |
0.0 |
0.0 |
|
Hire Purchase (Long
Term Liability) |
0.0 |
0.0 |
|
Leasing (Long Term
Liability) |
0.0 |
0.0 |
|
Total Hire
Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
|
Other Long Term
Loans |
0.0 |
0.0 |
|
Accruals/Deferred
Income (Long Term Liability) |
0.0 |
0.0 |
|
Other Long Term
Liabilities |
0.0 |
0.0 |
|
Total Long Term
Liabilities |
0.0 |
0.0 |
|
Deferred Taxation |
0.0 |
0.0 |
|
Other Provisions |
0.0 |
0.0 |
|
Total Provisions |
0.0 |
0.0 |
|
Issued Capital |
0.0 |
0.0 |
|
Share Premium
Accounts |
0.0 |
0.0 |
|
Revaluation
Reserve |
0.0 |
0.0 |
|
Retained Earnings |
0.0 |
0.0 |
|
Other Reserves |
0.0 |
0.0 |
|
Minority Interests
(Balance Sheet) |
0.0 |
0.0 |
|
Total Shareholders
Funds |
0.0 |
0.0 |
|
Net Worth |
0.0 |
0.0 |
|
|
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
30-Apr-2012 |
30-Apr-2011 |
|
Period Length |
52 Weeks |
54 Weeks |
|
Filed Currency |
GBP |
GBP |
|
Exchange Rate (Period Average) |
0.627861 |
0.640008 |
|
Consolidated |
No |
No |
|
|
|
|
|
|
|
Annual Ratios |
|
Financials in: USD (mil) |
|
|
30-Apr-2012 |
30-Apr-2011 |
|
Period Length |
52 Weeks |
54 Weeks |
|
Filed Currency |
GBP |
GBP |
|
Exchange Rate |
0.614874 |
0.599538 |
|
Consolidated |
No |
No |
|
|
|
|
|
Current Ratio |
0.04 |
0.01 |
|
Liquidity Ratio |
0.04 |
0.01 |
|
Borrowing Ratio |
-104.54% |
- |
|
Equity Gearing |
-2,204.97% |
-18,733.93% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.69 |
|
|
1 |
Rs.102.97 |
|
Euro |
1 |
Rs.84.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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%)