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Report Date : |
13.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
FIRST CHOICE FURNISHINGS LIMITED |
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Registered Office : |
1 Pilot Street, Leeds, West Yorkshire, LS9 7NF |
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Country : |
United Kingdom |
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Date of Incorporation : |
13.12.2012 |
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Legal Form : |
Private limited with Share Capital |
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Line of Business : |
Wholesale of Textiles |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
|
Company Name: |
FIRST CHOICE FURNISHINGS LIMITED |
|
Company Number: |
08329676 |
|
Registered Address |
1 PILOT STREET |
Trading Address |
1 Pilot Street |
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LEEDS |
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Leeds |
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WEST YORKSHIRE |
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West Yorkshire |
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LS9 7NF |
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LS9 7NF |
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Website Address |
Telephone Number |
01132420555 |
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TPS |
No |
FPS |
No |
|
Incorporate Date |
13/12/2012 |
Type |
Private limited with Share Capital |
|
FTSE Index |
- |
Date of Change |
- |
|
Filing Date of Accounts |
- |
Currency |
GBP |
|
Share Capital |
£1 |
SIC07 |
46410 |
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SIC07 Description |
WHOLESALE OF TEXTILES |
Current Directors
|
Name |
Date of Birth |
18/03/1966 |
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|
Officers Title |
Mrs |
Nationality |
British |
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Present Appointments |
7 |
Function |
Director |
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Appointment Date |
13/12/2012 |
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|
|
Address |
Manor Park Manor House Lane, Leeds, West Yorkshire, LS17 9JD |
||
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Other Actions |
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||
Previous
Director/Company Secretaries
|
No Previous Director Details |
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 - |
||
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Total Number of Writs - |
- |
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Exact CCJ Details
|
No CCJs found |
Possible CCJs
Details
|
There are no possible CCJ details |
Writ Details
|
No writs found |
Top 20
Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
ANITA CHOPRA |
GBP |
1 |
ORDINARY |
1 |
100 |
Payment Trend
Stable
Within terms
Within terms 91+ Days
Mortgage Details
|
Mortgage Type: |
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||
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Date Charge Created: |
03/10/13 |
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Date Charge Registered: |
30/10/13 |
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Date Charge Satisfied: |
- |
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Status: |
SATISFIED |
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Person(s) Entitled: |
BIBBY FINANCIAL SERVICES LTD (AS SECURITY TRUSTEE); |
||
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Amount Secured: |
|
||
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Details: |
CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS
ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.NOTIFICATION OF ADDITION TO OR
AMENDMENT OF CHARGE. |
||
Creditor Details
|
|
Total Number |
Total Value |
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Trade Creditors |
0 |
- |
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No Creditor Data |
Trade Debtors /
Bad Debt Detail
|
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Total Number of Documented Trade |
Total Value of Documented Trade |
|
Trade Debtors |
1 |
£2,277 |
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Company Name |
Amount |
Statement Date |
|
£2,277 |
23/05/2013 |
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Average Invoice Value |
n/a |
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Invoices available |
n/a |
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Paid |
n/a |
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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. |
|
|
Within Terms |
0-30 Days |
31-60 Days |
61-90 Days |
91+ Days |
|
Paid |
|
|
|
|
|
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Outstanding |
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Statistics
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Group |
- |
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Linkages |
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Countries |
Summary
|
Holding Company |
- |
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Ownership Status |
|
|
Ultimate Holding Company |
- |
Group structure
|
No group structure |
N/a
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
21/12/2013 |
Annual Returns |
|
17/12/2012 |
New Board Member Mrs A. Chopra appointed |
Previous Company
Names
|
No Previous Names found |
Commentary
No exact match CCJs
are recorded against the company.
No recent changes
in directorship are recorded.
The company is not
part of a group.
Newer companies
are proven to be more of an insolvency risk than more established companies.
The company was
established over 12 months ago.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
|
|
1 |
Rs.99.68 |
|
Euro |
1 |
Rs.80.30 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NNA |
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.