MIRA INFORM REPORT

 

 

Report Date :

28.11.2014

 

IDENTIFICATION DETAILS

 

Name :

DEAL LIMITED

 

 

Registered Office :

3rd Floor Northside, Northwood Hills, Middlesex, Ha6 1nw

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.04.2013

 

 

Date of Incorporation :

31.01.1997

 

 

Com. Reg. No.:

03311094

 

 

Legal Form :

Private limited with Share Capital           

 

 

Line of Business :

Wholesaler of clothing and footwear

 

 

No of Employees :

Not Available 

 

[We tried to confirm the number of employees but no one is ready to part any information from the company management.]

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

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 – 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

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 identification

 

DEAL LIMITED

Telephone

020 89989547 (Released)

Company Address

 

 

ARGYLE HOUSE

Fax

020 88106964

3RD FLOOR NORTHSIDE

 

NORTHWOOD HILLS

MIDDLESEX

HA6 1NW

United Kingdom

Company Number:

 

Foundation:

03311094

 

31/01/1997

 

Status:

 

Active - Accounts Filed

 

Note:

Trading address not confirmed as: 25, Sudbury Court Drive, Harrow, Middlesex, HA1 3SZ.

 

 

Main indices

 

 

Payment experience and credit opinion

 

In view of the inability to contact the company would advise the personal guarantee of Mr. Shah be obtained in dealings of any substance  

 

 

           

Comments        

No exact match CCJs are recorded against the company. Net Worth increased by 19.8% during the latest trading period. A 6.4% growth in Total Assets occurred 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 17 years ago.  

 

 

Basic Information

 

Legal form

Private limited with Share Capital           

           

Foundation

31/01/1997       


Company No.

03311094                                                                                                                                                                     

 

Shareholders

 

Name                           Currency          Number of Shares                    Share type                    Nominal value

MR ARUN SHAH           GBP                 1,000                                        ORDINARY                   1

Total Share Capital       GBP                 1,000

 

 

Management

Directors

 

Name                           Address                                   Date of birth                 Nationality        Appointment

date

Mr Arun Shah                36 Brentvale Avenue, Alperton,

Middlesex HA0 1NF                   05/11/1952                    British               31/01/1997

 

 

Secretary

 

No Secretary appointed

 

 

Other Known Addresses   

 

 

Argyle House, 3rd Floor Northside, Northwood Hills, Middlesex HA6 1NW

 

 

Business activities

 

Main Activity

Principal Activity

Wholesale of clothing and footwear.

SIC03

Wholesale of clothing and footwear

SIC07

Wholesale of clothing and footwear

 

 

Supplementary data

 

Bank Name

HSBC BANK PLC

 

Events  

 

Company history         

Date                             Action

22/01/2010                    New Accounts Filed

01/03/2010                    Annual Returns

15/09/2010                    Change in Reg.Office

15/09/2010                    Change of Company Postcode

28/01/2011                    New Accounts Filed

28/01/2011                    New Accounts Filed

03/03/2011                    Annual Returns

27/01/2012                    New Accounts Filed

27/01/2012                    New Accounts Filed

11/02/2012                    Annual Returns

29/10/2012                    B. Shah has resigned as company secretary

18/01/2013                    New Accounts Filed

15/03/2013                    Annual Returns

21/02/2014                    Annual Returns

27/02/2014                    New Accounts Filed

 

 

Mortgages

    

 

Charge created

11/08/1997

Charge registered

14/08/1997

Status

OUTSTANDING

Entitled person

NATIONAL WESTMINSTER BANK PLC

Secured amount

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

Mortgage detail

. A SPECIFIC EQUITABLE CHARGE OVER ALL FREEHOLD AND LEASEHOLD PROPERTIES AND/OR THE PROCEEDS OF SALE THEREOF FIXED AND FLOAT- ING CHARGES OVER UNDERTAKING AND ALLPROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS AND THE BENEFITS OF ANY LICENCES SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

 

Charge created

20/01/2000

Charge registered

26/01/2000

Status

OUTSTANDING

Entitled person

HSBC 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 CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UN- CALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

County Court Judgments (CCJs)     

 

There are no County Court Judgments listed against this company

 

 

Accounts

 

Profit & Loss

 

30/04/2013

52

GBP

Group: No

30/04/2012

52

GBP

Group: No

30/04/2011

52

GBP

Group: No

30/04/2010

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

2,535

2,983

3,510

2,662

Audit Fees

0

0

0

0

Interests Payments

-

-

-

-

Pre Tax Profit

0

0

0

0

Taxation

-

-

-

-

Profit After Tax

-

-

-

-

Dividends Payable

-

-

-

-

Retained Profit

-

-

-

-

 

Balance Sheet

 

30/04/2013

52

GBP

Group: No

30/04/2012

52

GBP

Group: No

30/04/2011

52

GBP

Group: No

30/04/2010

52

GBP

Group: No

Tangible Assets

34,346

36,881

32,955

15,085

Intangible Assets

0

0

0

0

Total Fixed Assets

34,346

36,881

32,955

15,085

Stock

382,248

310,517

287,494

285,109

Trade Debtors

56,827

42,340

45,712

38,262

Cash

0

0

0

0

Other Debtors

0

0

0

0

Miscellaneous Current Assets

0

0

0

0

Total Current Assets

439,075

352,857

333,206

323,371

Trade Creditors

312,750

250,319

245,402

233,599

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

312,750

250,319

245,402

233,599

Bank Loans and Overdrafts LTL

0

2,580

6,500

5,301

Other Long Term Finance

0

0

0

0

Total Long Term Liabilities

0

2,580

6,500

5,301

 

Capital Reserves

 

30/04/2013

52

GBP

Group: No

30/04/2012

52

GBP

Group: No

30/04/2011

52

GBP

Group: No

30/04/2010

52

GBP

Group: No

Called Up Share Capital

1,000

1,000

1,000

1,000

P and L Account Reserve

159,671

135,839

113,259

98,556

Revaluation Reserve

0

0

0

0

Sundry Reserves

0

0

0

0

Shareholders Funds

160,671

136,839

114,259

99,556

 

Other financials items

 

30/04/2013

52

GBP

Group: No

30/04/2012

52

GBP

Group: No

30/04/2011

52

GBP

Group: No

30/04/2010

52

GBP

Group: No

Net Worth

160,671

136,839

114,259

99,556

Working Capital

126,325

102,538

87,804

89,772

Total Assets

473,421

389,738

366,161

338,456

Total Liabilities

312,750

252,899

251,902

238,900

Net Assets

160,671

136,839

114,259

99,556

 

Cash Flow

 

30/04/2013

52

GBP

Group: No

30/04/2012

52

GBP

Group: No

30/04/2011

52

GBP

Group: No

30/04/2010

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

0

0

0

0

 

Miscellaneous

 

30/04/2013

52

GBP

Group: No

30/04/2012

52

GBP

Group: No

30/04/2011

52

GBP

Group: No

30/04/2010

52

GBP

Group: No

Capital Employed

160,671

139,419

120,759

104,857

 

Financial ratios

Name

30/04/2013

30/04/2012

30/04/2011

30/04/2010

Pre Tax Profit Margin

0.0%

0.0%

0.0%

0.0%

Current Ration

1.40

1.41

1.36

1.38

Sales or Net Working Capital

0.00

0.00

0.00

0.00

Gearing

0.00 %

1.89 %

5.69 %

5.32 %

Equity

33.94 %

35.11 %

31.20 %

29.41 %

Creditor Days

0.00

0.00

0.00

0.00

Debtor Days

0.00

0.00

0.00

0.00

Liquidity or Acid test

0.18

0.16

0.18

0.16

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

1.94 %

1.82 %

2.14 %

2.34 %

Total Debt Ratio

1.94 %

1.84 %

2.20 %

2.39 %

Stock Turnover Ratio

0.0%

0.0%

0.0%

0.0%

Return on Net Assets Employed

0.0%

0.0%

0.0%

0.0%

 

Remarks

Only abbreviated financial statement has been filed. In 2012/2013 Post Appropriation Profit amounted to

GBP 23,832 (2011/2012 Profit GBP 22,580). The general financial position seems to be in order and good

reserves have been built up. The business appears to be operating from the private residence of the owner.

The contact details you give are no longer operating and there are no new listings for either the business or

Mr. Shah.

 

Mr. Shah has been listed on the electoral register at the address since 2013 the property is freehold with an estimated value of around GBP 920,000. Difficult to judge the actual situation and remains to be seen how it

further performed in 2013/2014.

 

Activities: Wholesale clothing and footwear

 

Trading address not confirmed as: 25, Sudbury Court Drive, Harrow, Middlesex, HA1 3SZ.

 

Employees: Not known

 

Bank: HSBC Bank Plc

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.87

UK Pound

1

Rs.97.69

Euro

1

Rs.77.37

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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.