|
Report Date : |
17.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHARIF FASHIONS UK LIMITED |
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Registered Office : |
Unit 24 River Road Business Park Barking Essex IG11 0EA |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
20.01.2006 |
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Com. Reg. No.: |
05681364 |
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Legal Form : |
Private limited with
Share Capital |
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LINE OF BUSINESS : |
MANUFACTURER
OF OTHER WEARING APPAREL AND ACCESSORIES. |
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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 |
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Payment Behaviour : |
No Complaints |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 Ł375 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.
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Source
: CIA |
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Company identification |
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SHARIF FASHIONS
UK LIMITED |
Telephone |
02085911477 |
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UNIT 24 |
Fax |
- |
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RIVER ROAD BUSINESS PARK |
Website |
- |
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BARKING |
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ESSEX |
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IG11 0EA |
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United Kingdom |
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Company Number: Foundation: |
05681364 20/01/2006 |
Status: VAT No |
Active - Accounts Filed |
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Payment experience and credit opinion
|
Comments No exact match
CCJs are recorded against the company. Net Worth
increased by 298.5% during the latest trading period. A 360.7% growth in
Total Assets occurred during the latest trading period. The company saw an
increase in their Cash Balance of 194.4% during the latest trading period.
The movement in accumulated earnings would indicate that the company made a
profit after tax and other appropriations, including dividends. There is
insufficient data to indicate a change in this company’s percentage of sales.
There is insufficient data to indicate a change in this company’s pre-tax
profit. The company is exempt from audit. No recent changes in directorship
are recorded. The company is not part of a group. The company was established over 8 years
ago. |
Legal form
Private limited with Share Capital
Foundation
20/01/2006
Company No.
05681364
|
Name |
Currency |
Number of
shares |
Share type |
Nominal
value |
|
Sadiq Sharif |
GBP |
1 |
Ordinary |
1 |
|
Total Share Capital |
|
|
|
GBP 1 |
Director
|
Name |
Address |
Date of
birth |
Nationality |
Appointment
date |
|
Sadiq Sharif |
48 Kensington Avenue, Manor Park, London, E12 E12 6NP |
17.12.1960 |
British |
20.01.2006 |
Company
secretory
|
Name |
Address |
Appointment
date |
|
Jahanara Sharif |
48 Kensington Avenue, Manor Park, London, E12 6NP |
20.01.2006 |
24 River Road Business Park, River Road, Barking, Essex IG11 0EA
|
Main Activity |
|
|
SIC03 |
Manufacturing other wearing apparel etc. |
|
SIC07 |
Manufacturer of other wearing apparel and
accessories n.e.c. |
Turnover and Employees
|
Date of accounts |
Turnover |
Employees |
|
31.03.2011 |
Not
Stated |
Not
Stated |
|
31.03.2012 |
Not
Stated |
Not
Stated |
|
31.03.2013 |
Not
Stated |
Not
Stated |
Events
Company history
Date Action 29/01/2010 New Accounts Filed 22/05/2010 Annual Returns 19/08/2010 New Accounts Filed 11/01/2011 Change in Reg.Office 11/01/2011 Change of Company Postcode 08/03/2011 Annual Returns 29/12/2011 New Accounts Filed 25/02/2012 Annual Returns 05/01/2013 New Accounts Filed 22/02/2013 Annual Returns 25/12/2013 New Accounts Filed 12/03/2014 Annual Returns
Charge created 21/09/2010 Charge registered 25/09/2010 Status OUTSTANDING Entitled person BARCLAYS BANK PLC Secured amount ALL MONIES DUE OR TO BECOME DUE FROM THE
COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER Mortgage detail FIXED AND FLOATING CHARGE OVER THE
UNDERTAKING AND
ALL PROPERTY AND
ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UN- CALLED
CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT AND MACHINERY Charge created 04/04/2014 Charge registered 10/04/2014 Status OUTSTANDING Entitled person BARCLAYS BANK PLC; Mortgage detail CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL
THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.
Country court judgments
(CCJs)
There are no County
Court Judgments listed
against this company
Profit & Loss
|
|
52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
31/03/2010 52 GBP Group: No |
|
Turnover |
0 |
0 |
0 |
0 |
|
Export |
- |
- |
- |
- |
|
Cost of Sales |
- |
- |
- |
- |
|
Gross Profit |
- |
- |
- |
- |
|
Wages And Salaries |
0 |
0 |
0 |
0 |
|
Directors Emoluments |
- |
- |
- |
- |
|
Operating Profit |
- |
- |
- |
- |
|
Depreciation |
0 |
0 |
0 |
0 |
|
Audit Fees |
0 |
0 |
0 |
0 |
|
Interests Payments |
- |
- |
- |
- |
|
Pre Tax Profit |
0 |
0 |
0 |
0 |
|
Taxation |
- |
- |
- |
- |
|
Profit After
Tax |
- |
- |
- |
- |
|
|
31/03/2013 52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
31/03/2010 52 GBP Group: No |
|
Dividends
Payable |
- |
- |
- |
- |
|
Retained
Profit |
- |
- |
- |
- |
Balance Sheet
|
|
52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
31/03/2010 52 GBP Group: No |
|
Tangible Assets |
0 |
0 |
0 |
0 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
0 |
0 |
0 |
0 |
|
Stock |
33,051 |
7,127 |
13,627 |
16,448 |
|
Trade Debtors |
113,409 |
6,100 |
3,481 |
1,896 |
|
Cash |
151,376 |
51,426 |
102,617 |
69,052 |
|
Other Debtors |
0 |
0 |
0 |
0 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total Current Assets |
297,836 |
64,653 |
119,725 |
87,396 |
|
Trade Creditors |
162,582 |
30,710 |
100,427 |
81,330 |
|
Bank Loans
and Overdraft |
0 |
0 |
0 |
0 |
|
Other Short Term Finance |
0 |
0 |
0 |
0 |
|
Miscellaneous Current
Liabilities |
0 |
0 |
0 |
0 |
|
Total Current Liabilities |
162,582 |
30,710 |
100,427 |
81,330 |
|
Bank Loans
and Overdrafts LTL |
0 |
0 |
0 |
0 |
|
Other Long
Term Finance |
0 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
0 |
0 |
0 |
0 |
|
|
52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
31/03/2010 52 GBP Group: No |
|
Called Up Share Capital |
1 |
1 |
1 |
1 |
|
P and L Account Reserve |
135,253 |
33,942 |
19,297 |
6,065 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
135,254 |
33,943 |
19,298 |
6,066 |
|
|
52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
31/03/2010 52 GBP Group: No |
|
Net Worth |
135,254 |
33,943 |
19,298 |
6,066 |
|
Working Capital |
135,254 |
33,943 |
19,298 |
6,066 |
|
Total Assets |
297,836 |
64,653 |
119,725 |
87,396 |
|
Total Liabilities |
162,582 |
30,710 |
100,427 |
81,330 |
|
Net Assets |
135,254 |
33,943 |
19,298 |
6,066 |
|
|
52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
31/03/2010 52 GBP Group: No |
|
Net Cash
Flow from Operations |
0 |
0 |
0 |
0 |
|
Net Cash
Flow before Financing |
0 |
0 |
0 |
0 |
|
Net Cash
Flow from Financing |
0 |
0 |
0 |
0 |
|
Increase in Cash |
99,950 |
-51,191 |
33,565 |
63,836 |
|
|
52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
31/03/2010 52 GBP Group: No |
|
Capital Employed |
135,254 |
33,943 |
19,298 |
6,066 |
|
Name |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Pre Tax Profit
Margin |
0.0% |
0.0% |
0.0% |
0.0% |
|
Current Ration |
1.83 |
2.11 |
1.19 |
1.07 |
|
Sales or Net Working Capital |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gearing |
0.00 % |
0.00 % |
0.00 % |
0.00 % |
|
Equity |
45.41 % |
52.50 % |
16.12 % |
6.94 % |
|
Name |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
Creditor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Debtor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liquidity or Acid test |
1.62 |
1.87 |
1.05 |
0.87 |
|
Return on Capital Employed |
0.0% |
0.0% |
0.0% |
0.0% |
|
Return on
Total Assets Employed |
0.0% |
0.0% |
0.0% |
0.0% |
|
Current Debt Ratio |
1.20 % |
0.90 % |
5.20 % |
13.40 % |
|
Total Debt Ratio |
1.20 % |
0.90 % |
5.20 % |
13.40 % |
|
Stock Turnover Ratio |
0.0% |
0.0% |
0.0% |
0.0% |
|
Return on Net Assets
Employed |
0.0% |
0.0% |
0.0% |
0.0% |
Sources
were unable to contact the company. The telephone number is confirmed as
correct, but not answered
The
number provided 00442085380277 is incorrect and does not relate to this
company, but relates to the company’s freight forwarders
The abbreviated balance sheet reports the general financial position as
satisfactory with continued profitability and increases in shareholder’s fund.
Remains to be seen how the company trades in the financial year ended March
2014
Apparent Net Profit Year Ended
31/03/2013 – 101,311GBP
Apparent Net Profit Year Ended
31/03/2012 - 14,645GBP
Activity – Clothing
retailer
Trading
address( not confirmed ) – Unit 24 River Road Business
Park, River Road, Barking, Essex IG11 0EA
Employees N/A
Bank :- N/A
Branches :- N/A
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.65 |
|
|
1 |
Rs.96.54 |
|
Euro |
1 |
Rs.76.70 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
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.