MIRA INFORM REPORT

 

 

Report Date :

02.10.2014

 

IDENTIFICATION DETAILS

 

Name :

DELTA TECHNOLOGY LTD

 

 

Registered Office :

Supreme House, 300 Regents Park Road, London N3 2TL

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

12.06.2003

 

 

Com. Reg. No.:

04797074

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Wholesale of Computer, Computer Peripheral Equipment and Software.

 

 

No of Employees :

9

 

 

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 – 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

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Name:            DELTA TECHNOLOGY LTD

Company No:                04797074

Company Status:           Active - Accounts Filed

Registered Address:       Supreme House, 300 Regents Park Road, London N3 2tl

 

 

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

4

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

2

 

Current Directors

Name

Mini Bhuwania

Date of Birth

21/08/1973

Officers Title

Ms

Nationality

Indian

Present Appointments

3

Function

Director

Appointment Date

04/02/2005

 

 

Address

8 Edmunds Walk, London, N2 0HU

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Ashish Bhuwania

Date of Birth

14/10/1971

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

02/02/2005

 

 

Address

8 Edmunds Walk, London, N2 0HU

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Saroj Bhuwania

Date of Birth

30/06/1958

Officers Title

 

Nationality

Indian

Present Appointments

1

Function

Director

Appointment Date

02/02/2005

 

 

Address

8 Edmunds Walk, London, N2 0HU

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Arun Bhuwania

Date of Birth

30/08/1947

Officers Title

Mr

Nationality

Indian

Present Appointments

1

Function

Director

Appointment Date

02/02/2005

 

 

Address

8 Edmunds Walk, London, N2 0HU

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

Name

Ashish Bhuwania

Date of Birth

14/10/1971

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Company Secretary

Appointment Date

02/02/2005

 

 

Address

8 Edmunds Walk, London, N2 0HU

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

NOMINEE DIRECTOR LTD

577

3230

NOMINEE SECRETARIES LTD

3049

5552

 

 

NEGATIVE INFORMATION

 

Mortgage Summary

 

Total Mortgage  2

 

Outstanding                   1

 

Satisfied                        1

 

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 -

-

 

 

 

Mortgage Details

Mortgage Type:

RENT DEPOSIT DEED

Date Charge Created:

12/12/11

 

 

Date Charge Registered:

15/12/11

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

REGENTS OFFICE PARK LIMITED

Amount Secured:

£13,200 AND ALL OTHER MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OFTHE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

THE SUM OF £13,200 SEE IMAGE FOR FULL DETAILS

 

 

 

Mortgage Type:

FIXED AND FLOATING CHARGE

Date Charge Created:

08/09/05

 

 

Date Charge Registered:

10/09/05

 

 

Date Charge Satisfied:

08/09/07

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

THE ROYAL BANK OF SCOTLAND COMMERCIAL SERVICES LIMITED

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:

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

DELTA TRADE INTERNATIONAL LTD

GBP

1,000,000

ORDINARY

1

100

 

 

PAYMENT INFORMATION

 

Trade Debtors / Bad Debt Summary

 

Total Number of Documented Trade          0

Total Value of Documented Trade            £0

 

 

Trade Payment Information

Average Invoice Value

73.94

Invoices available

14

Paid

14

Outstanding

0

 

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

 

Average Invoice Value

£73.94

Invoices available

14

Paid

14

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

3

7

2

2

0

Outstanding

0

0

0

0

0

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

3 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

DELTA TRADE INTERNATIONAL LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

AVENUE MARKETING LTD

 

Group structure

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

AVENUE MARKETING LTD

N/A

-

-

 

DELTA TRADE INTERNATIO...

02470747

31.12.2012

Y

£21,607,766

DELTA TECHNOLOGY LTD

04797074

31.12.2012

N

£21,607,766

FINANCIAL INFORMATION

 

 

 

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

£21,607,766

25.8%

£17,171,965

-0.6%

£17,278,202

102.7%

£8,522,692

-4.3%

£8,905,927

Export

£20,141,647

25.1%

£16,094,351

-2.2%

£16,458,209

107.9%

£7,915,386

-6.2%

£8,434,633

Cost of Sales

£20,501,559

25.7%

£16,305,835

-1.5%

£16,558,131

106.6%

£8,013,679

-6.1%

£8,531,590

Gross Profit

£1,106,207

27.7%

£866,130

20.3%

£720,071

41.5%

£509,013

36%

£374,337

Wages & Salaries

£171,610

-

-

-

-

-

-

-

-

Directors Emoluments

£55,125

-

-

-

-

-

-

-

-

Operating Profit

£228,328

-5%

£240,418

107.4%

£115,917

92.5%

£60,217

2.5%

£58,725

Depreciation

£4,876

3.1%

£4,729

-11.5%

£5,343

88.7%

£2,831

161.9%

£1,081

Audit Fees

£6,000

9.1%

£5,500

10%

£5,000

-

£5,000

-

£5,000

Interest Payments

£1,564

-72.3%

£5,638

98%

£2,848

-31.1%

£4,136

-11.1%

£4,655

Pre Tax Profit

£226,764

-3.4%

£234,780

107.6%

£113,069

101.6%

£56,082

3.5%

£54,207

Taxation

-£30,889

27.2%

-£42,407

-56.1%

-£27,166

-128.7%

-£11,878

-5.5%

-£11,257

Profit After Tax

£195,875

1.8%

£192,373

123.9%

£85,903

94.3%

£44,204

2.9%

£42,950

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

£195,875

1.8%

£192,373

123.9%

£85,903

94.3%

£44,204

2.9%

£42,950

 

Balance Sheet

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Tangible Assets

£23,328

64.4%

£14,187

-11.5%

£16,030

88.8%

£8,491

162%

£3,241

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£23,328

64.4%

£14,187

-11.5%

£16,030

88.8%

£8,491

162%

£3,241

Stock

£1,242,598

-13.4%

£1,434,231

-2.8%

£1,476,187

115%

£686,667

-51%

£1,402,604

Trade Debtors

£3,503,110

47.1%

£2,381,798

191.5%

£817,202

-35.6%

£1,268,868

22.9%

£1,032,724

Cash

£114,562

-39.2%

£188,374

243.4%

£54,852

999.9%

£25

-99.6%

£6,609

Other Debtors

£262,045

-42.7%

£457,172

-72.4%

£1,654,817

999.9%

£92,836

9.4%

£84,886

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£5,122,315

14.8%

£4,461,575

11.5%

£4,003,058

95.4%

£2,048,396

-18.9%

£2,526,823

Trade Creditors

£2,672,676

41.8%

£1,884,299

-45.6%

£3,465,873

116.4%

£1,601,366

-9.6%

£1,770,804

Bank Loans & Overdrafts

0

-

0

-

0

-100%

£3,130

614.6%

£438

Other Short Term Finance

£37,906

-96.2%

£1,004,859

-

0

-

0

-100%

£297,445

Miscellaneous Current Liabilities

£87,356

2.5%

£85,211

94.4%

£43,826

44.5%

£30,328

-64.2%

£84,620

Total Current Liabilities

£2,797,938

-5.9%

£2,974,369

-15.3%

£3,509,699

114.7%

£1,634,824

-24.1%

£2,153,307

Bank Loans & Overdrafts and LTL

£653,274

999.9%

£2,837

-11.5%

£3,206

-34.7%

£4,913

339.1%

£1,119

Other Long Term Finance

£650,000

-

0

-

0

-

0

-

0

Total Long Term Liabilities

£653,274

999.9%

£2,837

-11.5%

£3,206

79.8%

£1,783

161.8%

£681

 

Capital & Reserves

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Called Up Share Capital

£1,000,000

-

£1,000,000

400%

£200,000

-

£200,000

-

£200,000

P & L Account Reserve

£694,431

39.3%

£498,556

62.8%

£306,183

39%

£220,280

25.1%

£176,076

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£1,694,431

13.1%

£1,498,556

196.1%

£506,183

20.4%

£420,280

11.8%

£376,076

 

Other Financial Items

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Net Worth

£1,694,431

13.1%

£1,498,556

196.1%

£506,183

20.4%

£420,280

11.8%

£376,076

Working Capital

£2,324,377

56.3%

£1,487,206

201.4%

£493,359

19.3%

£413,572

10.7%

£373,516

Total Assets

£5,145,643

15%

£4,475,762

11.4%

£4,019,088

95.4%

£2,056,887

-18.7%

£2,530,064

Total Liabilities

£3,451,212

15.9%

£2,977,206

-15.2%

£3,512,905

114.6%

£1,636,607

-24%

£2,153,988

Net Assets

£1,694,431

13.1%

£1,498,556

196.1%

£506,183

20.4%

£420,280

11.8%

£376,076

 

Cash Flow

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Net Cashflow from Operations

-£35,939

94.5%

-£649,316

-956.3%

£75,825

179.8%

£27,096

114.4%

-£188,311

Net Cashflow before Financing

-£73,812

88.9%

-£666,478

-999.9%

£57,957

724.8%

-£9,276

95.6%

-£211,396

Net Cashflow from Financing

-

-100%

£800,000

-

-

-

-

-100%

£199,000

Increase in Cash

-£73,812

-155.3%

£133,522

130.4%

£57,957

724.8%

-£9,276

25.2%

-£12,396

 

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

£2,347,705

56.4%

£1,501,393

194.7%

£509,389

20.7%

£422,063

12%

£376,757

Number of Employees

9

-

-

-

-

-

-

-

-

Auditors

TAYLORS

Auditor Comments

The audit report contains no adverse comments

Bankers

NATIONAL WESTMINSTER BANK PLC

Bank Branch Code

60-15-08

 

Ratios

Date Of Accounts

31/12/12

31/12/11

31/12/10

31/12/09

31/12/08

Pre-tax profit margin %

1.05

1.37

0.65

0.66

0.61

Current ratio

1.83

1.50

1.14

1.25

1.17

Sales/Net Working Capital

9.30

11.55

35.02

20.61

23.84

Gearing %

38.60

0.20

0.60

1.20

0.30

Equity in %

32.90

33.50

12.60

20.40

14.90

Creditor Days

45.02

39.94

73.01

68.39

72.37

Debtor Days

59.01

50.48

17.21

54.19

42.20

Liquidity/Acid Test

1.38

1.01

0.71

0.83

0.52

Return On Capital Employed %

9.65

15.63

22.19

13.28

14.38

Return On Total Assets Employed %

4.40

5.24

2.81

2.72

2.14

Current Debt Ratio

1.65

1.98

6.93

3.88

5.72

Total Debt Ratio

2.03

1.98

6.93

3.89

5.72

Stock Turnover Ratio %

5.75

8.35

8.54

8.05

15.74

Return on Net Assets Employed %

13.38

15.66

22.33

13.34

14.41

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

Status History

No Status History found

 

Event History

Date

Description

06/05/2014

Annual Returns

11/06/2013

New Accounts Filed

11/06/2013

New Accounts Filed

14/05/2013

Annual Returns

11/05/2012

Annual Returns

27/04/2012

New Accounts Filed

19/04/2012

Change of Company Postcode

08/10/2011

New Accounts Filed

06/10/2011

Change of Company Postcode

31/05/2011

Annual Returns

01/02/2011

New Accounts Filed

01/02/2011

New Accounts Filed

09/06/2010

Annual Returns

11/11/2009

New Accounts Filed

15/05/2009

Annual Returns

 

Previous Company Names

No Previous Names found

 

 

NOTES & COMMENTS

 

Commentary

No exact match CCJs are recorded against the company.

 

Sales in the latest trading period increased 25.8% on the previous trading period.

 

Net Worth increased by 13.1% during the latest trading period.

 

Pre-tax profits decreased by 3.4% compared to the previous trading period.

 

 

A 15% growth in Total Assets occurred during the latest trading period.

 

The company saw a decrease in their Cash Balance of 39.2% 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 11 years ago.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.75

UK Pound

1

Rs.100.07

Euro

1

Rs.77.95

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

TPT

 

 

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.