MIRA INFORM REPORT
|
Report Date : |
25.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
DAVID GANN LIMITED |
|
|
|
|
Formerly Known As : |
KABHILL LIMITED |
|
|
|
|
Registered Office : |
C/O Tg Associates, Monument House 215
Marsh Road, Pinner, Middlesex, Ha5 5ne |
|
|
|
|
Country : |
United Kingdom |
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|
|
|
Financials (as on) : |
30.04.2013 |
|
|
|
|
Date of Incorporation : |
27.07.1984 |
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|
|
|
Com. Reg. No.: |
01836630 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Non-Specialised Wholesale Trade (We tried to confirm / obtain the detailed activity but the same is
not available from any sources) |
|
|
|
|
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
REGISTERED
NAME & COMPANY SUMMARY
|
Company
Name |
DAVID
GANN LIMITED |
Company Number
|
01836630 |
|
Registered
Address |
C/O TG
ASSOCIATES |
Trading
Address |
Monument
House |
|
|
|
|
|
|
Website
Address |
|||
|
Telephone
Number |
- |
||
|
TPS |
- |
||
|
Incorporation
Date |
27/07/1984
|
Company
Status |
Active -
Accounts Filed |
|
Previous
Name |
KABHILL
LIMITED |
Type |
Private limited
with Share Capital |
|
Date of
Change |
12/11/1984
|
Filing
Date of Accounts |
26/09/2013
|
DIRECTORS/MANAGEMENT
|
Total
Current Directors |
2 |
|
Total
Current Secretaries |
1 |
|
Total
Previous Directors / Company Secretaries |
2 |
Current Directors
|
Name |
Date of
Birth |
20/12/1944 |
|
|
Officers
Title |
Mr |
Nationality |
British |
|
Present
Appointments |
4 |
Function |
Director |
|
Appointment
Date |
31/05/1992 |
|
|
|
Address |
112
Copsewood Way, Northwood, Middlesex, HA6 2UB |
||
|
Name |
Date of
Birth |
12/04/1964 |
|
|
Officers
Title |
Mrs |
Nationality |
British |
|
Present
Appointments |
6 |
Function |
Director |
|
Appointment
Date |
01/10/2013 |
|
|
|
Address |
Monument
House 215 Marsh Road, Pinner, Middlesex, HA5 5NE |
||
NEGATIVE
INFORMATION
CCJ
|
Total
Number of Exact CCJs - |
Total
Value of Exact CCJs - |
|
|
Total
Number of Possible CCJs - |
Total
Value of Possible CCJs - |
|
|
Total
Number of Satisfied CCJs - |
Total
Value of Satisfied CCJs - |
|
|
Total
Number of Writs - |
- |
|
Exact CCJ Details
There are
no exact CCJ details
Possible CCJ
Details
There are
no possible CCJ details
Writ Details
There are
no writ details
SHARE
& SHARE CAPITAL INFORMATION
|
Share
Capital |
£50,000 |
Top 20
Shareholders
|
Name |
Currency |
Share
Count |
Share
Type |
Nominal
Value |
% of
Total Share Count |
|
DAVID ALEXANDER GANN |
GBP |
45,000 |
ORDINARY |
1 |
90 |
|
JULIE
GRIFFIN |
GBP |
5,000 |
ORDINARY |
1 |
10 |
PAYMENT
INFORMATION
Payment
Information Summary
|
Days
Beyond Terms |
Trend
Indicator |
Average
Payment Experience |
|
||||
|
Steady Improving
Worsening |
Be the
first to leave a payment experience |
|
GROUP
STRUCTURE & AFFILIATED COMPANIES
Statistics
|
Group |
- |
|
Linkages |
|
|
Countries
|
Summary
|
Holding
Company |
- |
|
Ownership
Status |
|
|
Ultimate
Holding Company |
- |
Group structure
|
FINANCIAL
INFORMATION
Key Financials
|
Year to
Date |
Turnover |
Pre Tax
Profit |
Shareholder
Funds |
Employees |
|
30/04/2013 |
- |
- |
£68,717 |
- |
|
30/04/2012 |
- |
- |
£49,594 |
- |
|
30/04/2011 |
- |
- |
£40,080 |
- |
Profit & Loss
|
Date Of
Accounts |
30/04/13 |
30/04/12 |
30/04/11 |
30/04/10 |
30/04/09 |
|
Weeks |
52 |
52 |
52 |
52 |
52 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Consolidated
A/cs |
N |
N |
N |
N |
N |
|
Turnover |
- |
- |
- |
- |
- |
|
Export |
- |
- |
- |
- |
- |
|
Cost of
Sales |
- |
- |
- |
- |
- |
|
Gross
Profit |
- |
- |
- |
- |
- |
|
Wages
& Salaries |
- |
- |
- |
- |
- |
|
Directors
Emoluments |
- |
- |
- |
- |
- |
|
Operating
Profit |
- |
- |
- |
- |
- |
|
Depreciation |
£1,933 |
£1,537 |
£1,586 |
£1,958 |
£3,445 |
|
Audit
Fees |
- |
- |
- |
- |
- |
|
Interest Payments |
- |
- |
- |
- |
- |
|
Pre Tax
Profit |
- |
- |
- |
- |
- |
|
Taxation |
- |
- |
- |
- |
- |
|
Profit
After Tax |
- |
- |
- |
- |
- |
|
Dividends
Payable |
- |
- |
- |
- |
- |
|
Retained
Profit |
- |
- |
- |
- |
- |
Balance Sheet
|
Date Of
Accounts |
30/04/13 |
30/04/12 |
30/04/11 |
30/04/10 |
30/04/09 |
|
Tangible
Assets |
£10,950 |
£8,711 |
£8,985 |
£9,908 |
£11,404 |
|
Intangible
Assets |
0 |
0 |
0 |
0 |
0 |
|
Total
Fixed Assets |
£10,950 |
£8,711 |
£8,985 |
£9,908 |
£11,404 |
|
Stock |
£283,825 |
£297,626 |
£302,844 |
£400,530 |
£370,484 |
|
Trade
Debtors |
£126,386 |
£108,386 |
£157,931 |
£310,303 |
£264,234 |
|
Cash |
£11,706 |
£29 |
£20,828 |
£8,987 |
£34 |
|
Other
Debtors |
£182 |
£225 |
£140 |
£220 |
£140 |
|
Miscellaneous
Current Assets |
£5,516 |
£6,584 |
£8,218 |
£8,077 |
£5,566 |
|
Total
Current Assets |
£427,615 |
£412,850 |
£489,961 |
£728,117 |
£640,458 |
|
Trade
Creditors |
£350,848 |
£352,967 |
£439,866 |
£656,508 |
£606,765 |
|
Bank
Loans & Overdrafts |
0 |
0 |
0 |
0 |
0 |
|
Other Short
Term Finance |
0 |
0 |
0 |
£19,000 |
0 |
|
Miscellaneous
Current Liabilities |
0 |
0 |
0 |
0 |
0 |
|
Total
Current Liabilities |
£350,848 |
£352,967 |
£439,866 |
£675,508 |
£606,765 |
|
Bank
Loans & Overdrafts and LTL |
£19,000 |
£19,000 |
£19,000 |
£19,000 |
£19,000 |
|
Other
Long Term Finance |
0 |
0 |
0 |
0 |
0 |
|
Total
Long Term Liabilities |
£19,000 |
£19,000 |
£19,000 |
£19,000 |
£19,000 |
Capital &
Reserves
|
Date Of
Accounts |
30/04/13 |
30/04/12 |
30/04/11 |
30/04/10 |
30/04/09 |
|
Called Up
Share Capital |
£50,000 |
£50,000 |
£50,000 |
£50,000 |
£50,000 |
|
P & L
Account Reserve |
£7,717 |
-£11,406 |
-£20,920 |
-£17,483 |
-£34,903 |
|
Revaluation
Reserve |
- |
- |
- |
- |
- |
|
Sundry
Reserves |
£11,000 |
£11,000 |
£11,000 |
£11,000 |
£11,000 |
|
Shareholder
Funds |
£68,717 |
£49,594 |
£40,080 |
£43,517 |
£26,097 |
Other Financial
Items
|
Date Of
Accounts |
30/04/13 |
30/04/12 |
30/04/11 |
30/04/10 |
30/04/09 |
|
Net Worth |
£68,717 |
£49,594 |
£40,080 |
£43,517 |
£26,097 |
|
Working
Capital |
£76,767 |
£59,883 |
£50,095 |
£52,609 |
£33,693 |
|
Total
Assets |
£438,565 |
£421,561 |
£498,946 |
£738,025 |
£651,862 |
|
Total
Liabilities |
£369,848 |
£371,967 |
£458,866 |
£694,508 |
£625,765 |
|
Net
Assets |
£68,717 |
£49,594 |
£40,080 |
£43,517 |
£26,097 |
Miscellaneous
|
Date Of
Accounts |
30/04/13 |
|
30/04/12 |
|
30/04/11 |
|
30/04/10 |
|
30/04/09 |
|
Contingent
Liability |
NO |
|
NO |
|
NO |
|
NO |
|
NO |
|
Capital
Employed |
£87,717 |
|
£68,594 |
|
£59,080 |
|
£62,517 |
|
£45,097 |
|
Number of
Employees |
- |
|
- |
|
- |
|
- |
|
- |
|
Auditors |
|
||||||||
|
Auditor
Comments |
The
company is exempt from audit |
||||||||
|
Bankers |
|
||||||||
|
Bank
Branch Code |
|
|
|
|
|
|
|
|
|
Ratios
|
Date Of
Accounts |
30/04/13 |
30/04/12 |
30/04/11 |
30/04/10 |
30/04/09 |
|
Pre-tax
profit margin % |
- |
- |
- |
- |
- |
|
Current
ratio |
1.22 |
1.17 |
1.11 |
1.08 |
1.06 |
|
Sales/Net
Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
27.60 |
38.30 |
47.40 |
43.70 |
72.80 |
|
Equity in
% |
15.70 |
11.80 |
8 |
5.90 |
4 |
|
Creditor
Days |
- |
- |
- |
- |
- |
|
Debtor
Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid
Test |
0.40 |
0.32 |
0.42 |
0.48 |
0.44 |
|
Return On
Capital Employed % |
- |
- |
- |
- |
- |
|
Return On
Total Assets Employed % |
- |
- |
- |
- |
- |
|
Current
Debt Ratio |
5.10 |
7.11 |
10.97 |
15.52 |
23.25 |
|
Total
Debt Ratio |
5.38 |
7.50 |
11.44 |
15.95 |
23.97 |
|
Stock
Turnover Ratio % |
- |
- |
- |
- |
- |
|
Return on
Net Assets Employed % |
- |
- |
- |
- |
- |
ADDITIONAL
INFORMATION
|
SIC03 |
5190 |
|
SIC03
Description |
Other
wholesale |
|
SIC07 |
46900 |
|
SIC07
Description |
NON-SPECIALISED
WHOLESALE TRADE |
|
Principal
Activity |
Wholesale.
|
Current Company
Secretary
|
Name |
Date of
Birth |
- |
|
|
Officers
Title |
Mrs |
Nationality |
|
|
Present
Appointments |
1 |
Function |
Company
Secretary |
|
Appointment
Date |
31/03/2012 |
|
|
|
Address |
112
Copsewood Way, Northwood, Middlesex, HA6 2UB |
||
Status History
|
No Status
History found |
Event History
|
Date |
Description |
|
08/10/2013 |
New Board
Member Mrs J. Griffin appointed |
|
02/10/2013 |
New
Accounts Filed |
|
06/07/2013 |
Annual
Returns |
|
29/08/2012 |
New
Accounts Filed |
|
29/08/2012 |
New
Accounts Filed |
|
16/07/2012 |
Annual
Returns |
|
25/06/2012 |
Change in
Reg.Office |
|
25/06/2012 |
Change of
Company Postcode |
|
27/04/2012 |
Ms J.
Griffin has resigned as company secretary |
|
27/04/2012 |
Ms J.
Griffin has left the board |
|
27/04/2012 |
New
Company Secretary Mrs B.C. Gann appointed |
|
21/09/2011 |
New
Accounts Filed |
|
04/07/2011 |
Annual
Returns |
|
27/07/2010 |
New
Accounts Filed |
|
27/07/2010 |
New
Accounts Filed |
Previous Company
Names
|
Date |
Previous
Name |
|
12/11/1984 |
KABHILL
LIMITED |
NOTES
& COMMENTS
Commentary
|
No exact
match CCJs are recorded against the company. |
|
|
There is
insufficient data to indicate a change in this companies percentage of sales. |
|
|
Net Worth
increased by 38.6% during the latest trading period. |
|
|
A 4%
growth in Total Assets occurred during the latest trading period. |
|
|
There is
insufficient data to indicate a change in this companies pre-tax profit. |
|
|
The
company saw an increase in their Cash Balance of 999.9% during the latest
trading period. |
|
|
The
company is exempt from audit. |
|
|
The
company has undergone recent changes in its directorships. |
|
|
The
company is not part of a group. |
|
|
The
movement in accumulated earnings would indicate that the company made a
profit after tax and other appropriations, including dividends. |
|
|
The
company has changed its registered address recently. |
|
|
The
company was established over 29 years ago. |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.12 |
|
UK Pound |
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.85.32 |
INFORMATION DETAILS
|
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.