MIRA INFORM REPORT

 

 

Report Date :

18.07.2014

 

IDENTIFICATION DETAILS

 

Name :

CRESCENT PHARMA LIMITED 

 

 

Registered Office :

Units3-4 Quidhampton Business Units Polhampton Lane  Overton Basingstoke Rg25 3ed

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

01.05.2003

 

 

Com. Reg. No.:

04750933

 

 

Legal Form :

Private Limited with Share Capital

 

 

Line of Business :

·         Manufacturer, Distributor & Exporter of Cost Conscious Generic Medicines

·         Manufacturer of Pharmaceuticals Products

 

·         Subject product categories are as follows:

·         Women’s Health

·         Oral Health

·         Sport and Fitness

 

 

No. of Employees

05 (31.12.2012)

 

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

 

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 name & address

 

Company Name:                        CRESCENT PHARMA LIMITED

Company No:                            04750933

Company Status:                       Active - Accounts Filed

Registered Address:                   UNITS3-4 QUIDHAMPTON BUSINESS UNITS POLHAMPTON LANE

OVERTON BASINGSTOKE RG25 3ED

 

 

Company summary

 

Registered address                    UNITS3-4 QUIDHAMPTON BUSINESS UNITS POLHAMPTON LANE

OVERTON BASINGSTOKE RG25 3ED

 

Trading Address                         5 QUIDHAMPTON BUSINESS Units,

Quidhampton Overton,  BASINGSTOKE

Hampshire RG25 3ED

 

Telephone Number                     +44 (0) 1256 772730
Fax Number                              +44 (0) 1256 772740

Email:                                       info@crescentpharma.com

Website Address                       http://www.crescentpharma.com                        

 

TPS                                          Yes

FPS                                          No

 

Incorporation Date                      01/05/2003

 

Type                                         Private Limited with Share Capital

 

Filing date of Accounts              31.12.2012

 

Currency                                   GBP

 

Share Capital                             £ 5,700,000

 

Principal Activity                    

·         Manufacturer, Distributor & Exporter of Cost Conscious Generic Medicines

·         Manufacturer of Pharmaceuticals Products

 

·         Subject product categories are as follows:

·         Women’s Health

·         Oral Health

·         Sport and Fitness. 

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

1

Total Current Secretaries

0

Total Previous Directors / Company Secretaries

6

 

Current Directors

Name

Mohammed Al-Doori

Date of Birth

23/11/1965

Officers Title

Mr

Nationality

British

Present Appointments

6

Function

Director

Appointment Date

01/05/2003

 

 

Address

3 Pack Lane, Oakley, Basingstoke, Hampshire, RG23 7BD

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

Luma Auchi

6

3

Margaret Mary Bartlett

0

2

Gerald Malone

0

3

ACORN ACCOUNTING SOLUTIONS LTD

1

3

BRIGHTON DIRECTOR LTD

132

34318

BRIGHTON SECRETARY LTD

133

31711

 

NEGATIVE INFORMATION

 

Mortgage Summary

 

Total Mortgage                           1

Outstanding                               1

Satisfied                                    0

 

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:

CHARGE OF DEPOSIT

Date Charge Created:

31/10/07

 

 

Date Charge Registered:

17/11/07

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

NATIONAL WESTMINSTER BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

ALL DEPOSITS NOW AND IN THE FUTURE CREDITED TO ACCOUNT DESIGNATION 47019999 WITH THE BANK AND ANY DEPOSIT OR ACCOUNT OFANY OTHER DESCRIPTION OR DESIGNATION WHICH DERIVES IN WHOLE OR IN PART FROM SUCHDEPOSITS OR ACCOUNT

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

CRESCENT PHARMACEUTICALS LTD

GBP

5,700,000

ORDINARY

1

100

 

PAYMENT INFORMATION

 

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade                     2

Total Value of Documented Trade                        £263,171

 

 

Trade Payment Information

Average Invoice Value

56.72

Invoices available

32

Paid

32

Outstanding

0

 

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

 

Creditor Details

 

Total Number

Total Value

Trade Creditors

0

-

 

No Creditor Data

 

Trade Debtors / Bad Debt Detail

 

Total Number of Documented Trade

Total Value of Documented Trade

Trade Debtors

2

£263,171

 

Company Name

Amount

Statement Date

Melbrosin UK Limited

£178,571

13/10/2009

Dexo Biopharm Limited

£84,600

13/10/2009

Average Invoice Value

£56.72

Invoices available

32

Paid

32

Outstanding

0

 

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

 

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

12

20

0

0

0

Outstanding

0

0

0

0

0

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

5 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

CRESCENT PHARMACEUTICALS LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

RUNTEX CORP

 

Group structure

Company Name

 

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

RUNTEX CORP

 

N/A

-

-

 

CRESCENT PHARMACEUTICA...

 

07117426

31.12.2012

Y

£16,386,153

CRESCENT PHARMA LIMITED

 

04750933

31.12.2012

N

£14,506,929

ROSMARINE MANUFACT...

 

04766806

31.12.2013

N

 

CRESCENT PHARMA OT...

 

03940020

31.12.2012

N

 

 

FINANCIAL INFORMATION

 

Key Financials

 

Year to date                 Turnover                      Pre Tax Profit              Shareholder Funds      Employees 31/12/2012              £ 14,506,929                 £ 2,355,928                   £ 9,813,635                   5

31/12/2011                    £ 13,705,413                 £ 3,626,134                   £ 8,082,092                   5         

31/12/2010                    £ 7,265,429                   £ 243,461                      £ 5,306,355                   3

 

Profit & Loss

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

£14,506,929

5.8%

£13,705,413

88.6%

£7,265,429

43.8%

£5,050,771

9.2%

£4,624,888

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

£6,793,418

-9.3%

£7,487,355

55.2%

£4,825,177

46.2%

£3,299,766

-17.9%

£4,020,614

Gross Profit

£7,713,511

24.1%

£6,218,058

154.8%

£2,440,252

39.4%

£1,751,005

189.8%

£604,274

Wages & Salaries

£190,386

28.7%

£147,942

36.1%

£108,669

-35.2%

£167,815

23%

£136,425

Directors Emoluments

£20,710

-87.5%

£165,077

-

-

-

£111,000

155.2%

£43,500

Operating Profit

£5,501,215

21.7%

£4,521,546

341.7%

£1,023,664

132.3%

£440,585

140.5%

-£1,087,643

Depreciation

£6,583

2.6%

£6,415

18.1%

£5,434

-59.5%

£13,423

-43.1%

£23,594

Audit Fees

£11,576

-26.5%

£15,740

109.9%

£7,500

57.9%

£4,750

-52.5%

£10,000

Interest Payments

-

-100%

£5

-

-

-100%

£37

999.9%

£1

Pre Tax Profit

£2,355,928

-35%

£3,626,134

999.9%

-£243,461

-109.3%

£2,631,597

343%

-£1,083,092

Taxation

-£624,385

26.6%

-£850,397

-150.7%

£1,676,600

-

-

-

-

Profit After Tax

£1,731,543

-37.6%

£2,775,737

93.7%

£1,433,139

-45.5%

£2,631,597

343%

-£1,083,092

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

£1,731,543

-37.6%

£2,775,737

93.7%

£1,433,139

-45.5%

£2,631,597

343%

-£1,083,092

 

Balance Sheet

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Tangible Assets

£701,037

-0.6%

£705,216

-47.4%

£1,340,146

-48.6%

£2,609,292

0.5%

£2,597,147

Intangible Assets

£379,981

-25.7%

£511,072

-20.6%

£643,691

-12.7%

£737,400

-41%

£1,249,332

Total Fixed Assets

£1,081,018

-11.1%

£1,216,288

-38.7%

£1,983,837

-40.7%

£3,346,692

-13%

£3,846,479

Stock

£975,562

-23.2%

£1,270,789

57%

£809,653

-5.6%

£857,424

7.1%

£800,537

Trade Debtors

£4,707,095

19.3%

£3,945,212

257.8%

£1,102,683

-0.9%

£1,112,659

78%

£625,065

Cash

£5,319,323

459.1%

£951,353

359.3%

£207,148

382.5%

£42,929

-65.6%

£124,805

Other Debtors

£1,548,702

21%

£1,279,410

-31.6%

£1,870,922

-

0

-100%

£356,884

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£12,550,682

68.5%

£7,446,764

86.6%

£3,990,406

98.2%

£2,013,012

5.5%

£1,907,291

Trade Creditors

£2,609,653

444.3%

£479,438

-10.3%

£534,674

-64%

£1,486,488

-22%

£1,905,539

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-100%

£46,318

Miscellaneous Current Liabilities

£1,208,412

999.9%

£101,522

-23.8%

£133,214

-

0

-100%

£34,429

Total Current Liabilities

£3,818,065

557.2%

£580,960

-13%

£667,888

-55.1%

£1,486,488

-25.2%

£1,986,286

Bank Loans & Overdrafts and LTL

0

-

0

-

0

-

0

-100%

£2,380,105

Other Long Term Finance

0

-

0

-

0

-

0

-100%

£2,380,105

Total Long Term Liabilities

0

-

0

-

0

-

0

-100%

£2,380,105

 

Capital & Reserves

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Called Up Share Capital

£5,700,000

-

£5,700,000

-

£5,700,000

-

£5,700,000

-

£5,700,000

P & L Account Reserve

£4,113,635

72.7%

£2,382,092

705.1%

-£393,645

78.5%

-£1,826,784

57.6%

-£4,312,621

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£9,813,635

21.4%

£8,082,092

52.3%

£5,306,355

37%

£3,873,216

179.2%

£1,387,379

 

Other Financial Items

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Net Worth

£9,433,654

24.6%

£7,571,020

62.4%

£4,662,664

48.7%

£3,135,816

999.9%

£138,047

Working Capital

£8,732,617

27.2%

£6,865,804

106.6%

£3,322,518

531%

£526,524

766.5%

-£78,995

Total Assets

£13,631,700

57.4%

£8,663,052

45%

£5,974,243

11.5%

£5,359,704

-6.8%

£5,753,770

Total Liabilities

£3,818,065

557.2%

£580,960

-13%

£667,888

-55.1%

£1,486,488

-66%

£4,366,391

Net Assets

£9,813,635

21.4%

£8,082,092

52.3%

£5,306,355

37%

£3,873,216

179.2%

£1,387,379

 

Cash Flow

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Net Cashflow from Operations

£4,363,023

480.9%

£751,047

266.2%

£205,117

-

-

-

-

Net Cashflow before Financing

£4,367,970

486.9%

£744,210

353.2%

£164,220

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

£4,367,970

486.9%

£744,210

353.2%

£164,220

-

-

-

-

 

Miscellaneous

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£9,813,635

21.4%

£8,082,092

52.3%

£5,306,355

37%

£3,873,216

2.8%

£3,767,484

Number of Employees

5

-

5

66.7%

3

-25%

4

-

4

Auditors

CW FELLOWES LIMITED

Auditor Comments

The audit report contains no adverse comments

Bankers

NATIONAL WESTMINSTER BANK PLC

Bank Branch Code

60-10-12

 

Ratios

Date Of Accounts

31/12/12

31/12/11

31/12/10

31/12/09

31/12/08

Pre-tax profit margin %

16.24

26.46

-3.35

52.10

-23.42

Current ratio

3.29

12.82

5.97

1.35

0.96

Sales/Net Working Capital

1.66

2

2.19

9.59

-58.55

Gearing %

0

0

0

0

171.60

Equity in %

74.10

99.10

99.50

83.80

30.80

Creditor Days

65.47

12.73

26.78

107.12

149.97

Debtor Days

118.10

104.78

55.24

80.18

49.19

Liquidity/Acid Test

3.03

10.63

4.76

0.77

0.55

Return On Capital Employed %

24

44.86

-4.58

67.94

-28.74

Return On Total Assets Employed %

17.28

41.85

-4.07

49.09

-18.82

Current Debt Ratio

0.38

0.07

0.12

0.38

1.43

Total Debt Ratio

0.38

0.07

0.12

0.38

3.14

Stock Turnover Ratio %

6.72

9.27

11.14

16.97

17.30

Return on Net Assets Employed %

24

44.86

-4.58

67.94

-78.06

 

ADDITIONAL INFORMATION

 

Commentary

No exact match CCJs are recorded against the company.

 

Sales in the latest trading period increased 5.8% on the previous trading period.

 

Net Worth increased by 24.6% during the latest trading period.

 

 

A 57.4% growth in Total Assets occurred during the latest trading period.

 

Pre-tax profits decreased by 35% compared to the previous trading period.

 

The company saw an increase in their Cash Balance of 459.1% 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 has changed its registered address recently.

 

The company was established over 10 years ago.

 

 

Status History

No Status History found

 

Event History

Date

Description

13/02/2014

Annual Returns

14/10/2013

New Accounts Filed

14/10/2013

New Accounts Filed

18/07/2013

Annual Returns

15/01/2013

Annual Returns

10/10/2012

New Accounts Filed

10/10/2012

New Accounts Filed

19/04/2012

Change in Reg.Office

19/04/2012

Change of Company Postcode

18/02/2012

Annual Returns

12/10/2011

New Accounts Filed

12/10/2011

New Accounts Filed

07/10/2011

Change in Reg.Office

07/10/2011

Change of Company Postcode

30/05/2011

Annual Returns

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.14

UK Pound

1

Rs.103.00

Euro

1

Rs.81.33

                

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.