MIRA INFORM REPORT

 

 

Report Date :

12.07.2014

 

IDENTIFICATION DETAILS

 

Name :

FALCON GROUP EUROPE LIMITED 

 

 

Formerly Known as : 

FHG MARKETING (UK) LIMITED

 

 

Registered Office :

30 ST. Mary Axe London EC3A 8BF

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.01.2013

 

 

Date of Incorporation :

14.08.2008

 

 

Com. Reg. No.:

06673452

 

 

Legal Form :

Private Limited with Share Capital

 

 

Line of Business :

Engaged in providing International Trade Financing & Structured Finance Services.

 

 

No of Employees :

01 (31.01.2013)

 

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 :

No Complaints

 

 

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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

 

 

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Name:            FALCON GROUP EUROPE LIMITED

Company No:                06673452

Company Status:           Active - Accounts Filed

 

Registered Address:       30 ST. Mary Axe London EC3A 8BF

 

Trading Address             30 ST. Mary Axe London EC3A 8BF

Tel. No.:                        02073376200

TPS                              No

FPS                              No

Incorporation Date          14/08/2008

Previous Name              FHG Marketing (UK) Limited

Type                              Private Limited with Share Capital

Date of Change 26/11/2008

Filing Date of Accounts  16/08/2013

Currency                       GBP

Share Capital                 £ 1

SIC07                           46900

SIC07                           Non Specialized Wholesale trade

Principal activity            To provide International Trade Financing & Structured Finance Services.

                       

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

3

 

Current Directors

Name

William Francis Nagle

Date of Birth

16/05/1958

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

09/09/2008

 

 

Address

30 St Mary Axe, London, EC3A 8BF

 

Name

Neill Raymond Way

Date of Birth

15/09/1955

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

23/03/2009

 

 

Address

Chez Penot, Chenommet, 16460 Charente

 

Current Company Secretary

Name

Paul Andrew Stenning

Date of Birth

24/08/1964

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Company Secretary

Appointment Date

23/03/2009

 

 

Address

163 Amersham Way, Little Chalfont, Bucks, HP6 6SG

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

Bibi Rahima Ally

399

1220

Sheila Peters

10

61

Neill Raymond Way

2

2

 

NEGATIVE INFORMATION

 

Mortgage summary

 

Total mortgage               2

Outstanding                   2

 

CCJ

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

 

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

 

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

 

Total Number of Writs -

-

 

 

 

Exact CCJ Details

No CCJs found

 

Possible CCJs Details

There are no possible CCJ details

 

Writ Details

No writs found

 

Mortgage Details

Mortgage Type:

 

Date Charge Created:

04/06/13

 

 

Date Charge Registered:

20/06/13

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

BANK OF LONDON AND THE MIDDLE EAST PLC (THE ASSIGNEE);

Amount Secured:

 

Details:

CONTAINS FIXED CHARGE.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.

 

Mortgage Type:

RECEIVABLES ASSIGNMENT AGREEMENT

Date Charge Created:

16/11/10

 

 

Date Charge Registered:

26/11/10

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

BANK OF LONDON AND THE MIDDLE EAST PLC

Amount Secured:

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

Details:

ALL RIGHTS AND INTEREST TO, IN OR IN CONNECTION WITH, THE ASSIGNED RIGHTS. THE ASSIGNED RIGHTS MEANSEACH BILL OF EXCHANGE, ANY AMOUNTS, ANY OTHER DEBTS, THE CREDIT INSURANCE. SEE IMAGE FOR FULL DETAILS

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

FALCON GROUP HOLDINGS (CAYMAN) LTD

GBP

1

ORDINARY

1

100

 

PAYMENT INFORMATION

 

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade:                                0

Total Value of Documented Trade:                                   £0

 

Average Invoice Value

n/a

Invoices available

n/a

Paid

n/a

Outstanding

n/a

 

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

5 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

-

Ownership Status

Wholly Owned

Ultimate Holding Company

FALCON GROUP HOLDINGS (CAYMAN) LTD

 

Group structure

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

FALCON GROUP HOLDINGS (C...

N/A

-

-

 

FALCON GROUP ADMINISTR...

06673466

31.01.2013

N

£3,738,794

FALCON GROUP EUROPE LI...

06673452

31.01.2013

N

£306,176

FALCON FINE ART LTD

07873386

31.01.2013

N

 

KWM COMMODITIES TRAD...

08587520

-

N

 

 

FINANCIAL INFORMATION

 

Key financials

 

Year to date                 turnover                      Pre Tax Profit              Shareholder    Funds Employees

31.01.2013                    £306,176                       £26,598             -£1,127,210       1

31.01.2012                    £112,830                       -£71,194                        -£1,153,808       1

31.01.2011                    -£40,795                        -£802,332                      -£ 1,046,848      3

 

Profit & Loss

Date Of Accounts

31/01/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

(%)

-

Weeks

52

(%)

52

(%)

52

(%)

77

(%)

-

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

-

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

-

Turnover

£306,176

171.4%

£112,830

376.6%

-£40,795

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

-

Wages & Salaries

£198,393

999.9%

£12,320

-90.7%

£132,449

-2%

£135,084

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

£26,598

137.4%

-£71,193

91.1%

-£802,332

-226%

-£246,086

-

-

Depreciation

-

-

-

-

-

-

-

-

-

Audit Fees

£3,142

138.2%

£1,319

-

-

-100%

£1,605

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

£26,598

137.4%

-£71,193

91.1%

-£802,332

-226%

-£246,086

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

£26,598

137.4%

-£71,193

91.1%

-£802,332

-226%

-£246,086

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

£26,598

137.4%

-£71,193

91.1%

-£802,332

-226%

-£246,086

-

-

 

Balance Sheet

Date Of Accounts

31/01/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

(%)

-

Tangible Assets

0

-

0

-

0

-

0

-

-

Intangible Assets

0

-

0

-

0

-

0

-

-

Total Fixed Assets

0

-

0

-

0

-

0

-

-

Stock

0

-

0

-

0

-

0

-

-

Trade Debtors

£1,393,246

302.4%

£346,256

-63.8%

£957,266

-

0

-

-

Cash

£2,910,923

288.1%

£750,108

999.9%

£2,970

-92%

£37,146

-

-

Other Debtors

£57,137

-7.3%

£61,650

228.9%

£18,742

-81.9%

£103,672

-

-

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

-

Total Current Assets

£4,361,306

276.6%

£1,158,013

18.3%

£978,977

595.2%

£140,818

-

-

Trade Creditors

£1,443,265

316.8%

£346,256

-63.7%

£954,919

-

0

-

-

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

-

Other Short Term Finance

£3,994,805

109.9%

£1,903,293

79%

£1,063,205

176.2%

£384,891

-

-

Miscellaneous Current Liabilities

£50,446

-19%

£62,273

708.6%

£7,701

282.6%

£2,013

-

-

Total Current Liabilities

£5,488,516

137.4%

£2,311,821

14.1%

£2,025,825

423.6%

£386,904

-

-

Bank Loans & Overdrafts and LTL

0

-

0

-

0

-

0

-

-

Other Long Term Finance

0

-

0

-

0

-

0

-

-

Total Long Term Liabilities

0

-

0

-

0

-

0

-

-

 

Capital & Reserves

Date Of Accounts

31/01/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

(%)

-

Called Up Share Capital

£1

-

£1

3.2%

£1

-1.6%

£1

-

-

P & L Account Reserve

-£1,127,211

2.3%

-£1,153,808

-10.2%

-£1,046,849

-325.4%

-£246,086

-

-

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

-£1,127,210

2.3%

-£1,153,808

-10.2%

-£1,046,848

-325.4%

-£246,086

-

-

 

Other Financial Items

Date Of Accounts

31/01/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

(%)

-

Net Worth

-£1,127,210

2.3%

-£1,153,808

-10.2%

-£1,046,848

-325.4%

-£246,086

-

-

Working Capital

-£1,127,210

2.3%

-£1,153,808

-10.2%

-£1,046,848

-325.4%

-£246,086

-

-

Total Assets

£4,361,306

276.6%

£1,158,013

18.3%

£978,977

595.2%

£140,818

-

-

Total Liabilities

£5,488,516

137.4%

£2,311,821

14.1%

£2,025,825

423.6%

£386,904

-

-

Net Assets

-£1,127,210

2.3%

-£1,153,808

-10.2%

-£1,046,848

-325.4%

-£246,086

-

-

 

Cash Flow

Date Of Accounts

31/01/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

(%)

-

Net Cashflow from Operations

£2,160,815

189.3%

£747,037

999.9%

-£33,940

-191.4%

£37,146

-

-

Net Cashflow before Financing

£2,160,815

189.3%

£747,037

999.9%

-£33,939

-191.4%

£37,145

-

-

Net Cashflow from Financing

-

-

-

-

-

-100%

£1

-

-

Increase in Cash

£2,160,815

189.3%

£747,037

999.9%

-£33,940

-191.4%

£37,146

-

-

 

Miscellaneous

Date Of Accounts

31/01/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

(%)

-

Contingent Liability

NO

-

NO

-

NO

-

NO

-

-

Capital Employed

-£1,127,210

2.3%

-£1,153,808

-10.2%

-£1,046,848

-325.4%

-£246,086

-

-

Number of Employees

1

-

1

-66.7%

3

200%

1

-

-

Auditors

BDO LLP

Auditor Comments

The audit report contains no adverse comments

 

Ratios

Date Of Accounts

31/01/13

31/01/12

31/01/11

31/01/10

-

Pre-tax profit margin %

8.69

-63.10

1966.72

-

-

Current ratio

0.79

0.50

0.48

0.36

-

Sales/Net Working Capital

-0.27

-0.10

0.04

-

-

Gearing %

0

0

0

0

-

Equity in %

-25.80

-99.60

-106.90

-174.80

-

Creditor Days

1715.83

1117.04

-8520.35

-

-

Debtor Days

1656.37

1117.04

-8541.28

-

-

Liquidity/Acid Test

0.79

0.50

0.48

0.36

-

Return On Capital Employed %

-2.35

6.17

76.64

100

-

Return On Total Assets Employed %

0.60

-6.14

-81.95

-174.75

-

Current Debt Ratio

-4.86

-2

-1.93

-1.57

-

Total Debt Ratio

-4.86

-2

-1.93

-1.57

-

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-2.35

6.17

76.64

100

-

 

ADDITIONAL INFORMATION

 

Status History

No Status History found

 

Event History

Date

Description

14/10/2013

Annual Returns

24/08/2013

New Accounts Filed

24/08/2013

New Accounts Filed

20/08/2013

Annual Returns

18/08/2012

Annual Returns

26/06/2012

New Accounts Filed

26/06/2012

New Accounts Filed

08/10/2011

New Accounts Filed

08/10/2011

New Accounts Filed

27/08/2011

Annual Returns

23/08/2010

Annual Returns

26/05/2010

New Accounts Filed

25/08/2009

Annual Returns

24/08/2009

Change in Reg.Office

31/03/2009

Mr N.R. Way has resigned as company secretary

 

Previous Company Names

Date

Previous Name

26/11/2008

FHG MARKETING (UK) LIMITED

 

NOTES & COMMENTS

 

Commentary

No exact match CCJs are recorded against the company.

Sales in the latest trading period increased 171.4% on the previous trading period.

Net Worth increased by 2.3% during the latest trading period.

 

A 276.6% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 137.4% compared to the previous trading period.

The company saw an increase in their Cash Balance of 288.1% during the latest trading period.

The audit report contains no adverse comments.

No recent changes in directorship are recorded.

The company is part of a group.

The company was established over 5 years ago.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.19

UK Pound

1

Rs.103.15

Euro

1

Rs.81.87

 

 

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%)

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.