MIRA INFORM REPORT

 

 

Report Date :

29.10.2014

 

IDENTIFICATION DETAILS

 

Name :

AUTOGEM INVICTA LIMITED

 

 

Formerly Known As :

INVICTA COMPONENTS LIMITED

 

 

Registered Office :

c/o Butler & co LLP, 126-134 Third Floor, Baker Street, London W1U 6UE

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.06.2013

 

 

Date of Incorporation :

30.05.1996

 

 

Com. Reg. No.:

03205430

 

 

Legal Form :

Private limited with share capital

 

 

Line of Business :
  • Non – specialised wholesale trade
  • The sale of exhaust fittings and automobile parts and consumables

 

 

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

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:

·         AUTOGEM INVICTA LIMITED

·         Company No:

·         03205430

·         Company Status:

·         Active - Accounts Filed

·         Registered Address:

·         126-134 THIRD FLOOR BAKER STREET LONDON W1U 6UE

 

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

2

 

Current Directors

Name

Aditya Chopra

Date of Birth

20/03/1973

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

30/05/1996

 

 

Address

36a Bedford Road, Moor Park, Northwood, Middlesex, HA6 2AZ

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Prashant Chopra

Date of Birth

01/09/1974

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

30/05/1996

 

 

Address

36a Bedford Road, Moor Park, Northwood, Middlesex, HA6 2AZ

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

Name

Aditya Chopra

Date of Birth

20/03/1973

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Company Secretary

Appointment Date

30/05/1996

 

 

Address

36a Bedford Road, Moor Park, Northwood, Middlesex, HA6 2AZ

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

ACCESS NOMINEES LIMITED

183

11162

ACCESS REGISTRARS LIMITED

210

11116

 

 

NEGATIVE INFORMATION

 

Mortgage Summary

·    Total Mortgage

·    2

·    Outstanding

·    0

·    Satisfied

·    2

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:

LEGAL MORTGAGE

Date Charge Created:

25/09/98

 

 

Date Charge Registered:

01/10/98

 

 

Date Charge Satisfied:

04/06/11

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

NATIONAL WESTMINSTER BANK PLC

Amount Secured:

 

Details:

F/H PROPERTY K/A UNIT 2 A.M.C. HOUSE CUMBERLAND AVENUE L/B OF BRENT T/NO.NGL676653AND THE PROCEEDS OF SALE THEREOF FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT AND AN ASSIGNMENT OF THE GOODWILL AND CONNECTION OF ANY BUSINESS TOGETHER WITH THE FULL BENEFIT OF ALL LICENCES

 

Mortgage Type:

MORTGAGE DEBENTURE

Date Charge Created:

11/09/98

 

 

Date Charge Registered:

16/09/98

 

 

Date Charge Satisfied:

14/05/11

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

NATIONAL WESTMINSTER BANK PLC

Amount Secured:

 

Details:

.A SPECIFIC EQUITABLE CHARGE OVER ALL FREEHOLD AND LEASEHOLD PROPERTIES AND/OR THE PROCEEDS OF SALETHEREOF FIXED AND FLOATING CHARGES OVER UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS AND THE BENEFITS OF ANY LICENCES 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

PRASHANT CHOPRA

GBP

1

ORDINARY

1

50

ADITYA CHOPRA

GBP

1

ORDINARY

1

50

 

 

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

186.75

Invoices available

8

Paid

8

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

£186.75

Invoices available

8

Paid

8

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

5

3

0

0

0

Outstanding

0

0

0

0

0

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

-

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

 

Group structure

No group structure

 

 

FINANCIAL INFORMATION

Profit & Loss

 

Date Of Accounts

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

 

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

 

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

 

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

http://static.creditsafe.com/IMAGES/barchart-grey.png

Turnover

-

-

£2,799,006

36.4%

£2,052,097

37.5%

£1,491,956

29.4%

£1,152,782

http://static.creditsafe.com/IMAGES/barchart-grey.png

Export

-

-

-

-

-

-

£969,771

47.8%

£656,139

http://static.creditsafe.com/IMAGES/barchart-grey.png

Cost of Sales

-

-100%

£1,626,390

37.2%

£1,185,135

33.8%

£885,421

36.8%

£647,024

http://static.creditsafe.com/IMAGES/barchart-grey.png

Gross Profit

-

-

£1,172,616

35.3%

£866,962

42.9%

£606,535

19.9%

£505,758

http://static.creditsafe.com/IMAGES/barchart-grey.png

Wages & Salaries

-

-

£165,746

81.5%

£91,312

-4.1%

£95,185

8.4%

£87,797

http://static.creditsafe.com/IMAGES/barchart-grey.png

Directors Emoluments

-

-

£6,000

-52.4%

£12,600

5%

£12,000

12.7%

£10,650

http://static.creditsafe.com/IMAGES/barchart-grey.png

Operating Profit

-

-

£627,729

-12.4%

£716,852

59.1%

£450,675

12.2%

£401,575

http://static.creditsafe.com/IMAGES/barchart-grey.png

Depreciation

£25,490

256.1%

£7,159

21.8%

£5,876

-8.6%

£6,428

-2.8%

£6,615

http://static.creditsafe.com/IMAGES/barchart-grey.png

Audit Fees

-

-

-

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Interest Payments

-

-

-

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Pre Tax Profit

-

-

£631,289

-12%

£716,993

59.1%

£450,761

11.8%

£403,175

http://static.creditsafe.com/IMAGES/barchart-grey.png

Taxation

-

-

-£147,688

20.5%

-£185,776

-71.4%

-£108,383

-17.9%

-£91,900

http://static.creditsafe.com/IMAGES/barchart-grey.png

Profit After Tax

-

-

£483,601

-9%

£531,217

55.2%

£342,378

10%

£311,275

http://static.creditsafe.com/IMAGES/barchart-grey.png

Dividends Payable

-

-

-

-100%

£65,000

-22.6%

£84,000

2.4%

£82,000

http://static.creditsafe.com/IMAGES/barchart-grey.png

Retained Profit

-

-

£483,601

3.7%

£466,217

80.4%

£258,378

12.7%

£229,275

 

Balance Sheet

 

Date Of Accounts

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

http://static.creditsafe.com/IMAGES/barchart-grey.png

Tangible Assets

£241,393

-0.2%

£241,922

25%

£193,530

-2.9%

£199,406

-3.1%

£205,842

http://static.creditsafe.com/IMAGES/barchart-grey.png

Intangible Assets

£690,000

-25%

£920,000

-

0

-

0

-

0

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Fixed Assets

£931,393

-19.8%

£1,161,922

500.4%

£193,530

-2.9%

£199,406

-3.1%

£205,842

http://static.creditsafe.com/IMAGES/barchart-grey.png

Stock

£1,069,596

16.2%

£920,600

206.8%

£300,081

24.3%

£241,453

6.1%

£227,510

http://static.creditsafe.com/IMAGES/barchart-grey.png

Trade Debtors

£1,924,588

27.3%

£1,511,752

44%

£1,049,484

55.9%

£673,248

-13.2%

£775,602

http://static.creditsafe.com/IMAGES/barchart-grey.png

Cash

£1,169,671

33.9%

£873,834

21.3%

£720,413

23.4%

£584,011

112.4%

£274,998

http://static.creditsafe.com/IMAGES/barchart-grey.png

Other Debtors

0

-100%

£314,918

999.9%

£24,253

11.5%

£21,744

424.6%

£4,145

http://static.creditsafe.com/IMAGES/barchart-grey.png

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Current Assets

£4,163,855

15%

£3,621,104

72.9%

£2,094,231

37.7%

£1,520,456

18.6%

£1,282,255

http://static.creditsafe.com/IMAGES/barchart-grey.png

Trade Creditors

£2,488,587

182.3%

£881,622

122.5%

£396,280

13.1%

£350,497

2.5%

£341,848

http://static.creditsafe.com/IMAGES/barchart-grey.png

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

http://static.creditsafe.com/IMAGES/barchart-grey.png

Other Short Term Finance

0

-100%

£1,538,365

999.9%

£580

-96.9%

£18,980

2.7%

£18,485

http://static.creditsafe.com/IMAGES/barchart-grey.png

Miscellaneous Current Liabilities

0

-100%

£237,565

-4.6%

£249,028

42.5%

£174,729

-17%

£210,486

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Current Liabilities

£2,488,587

-6.4%

£2,657,552

311.5%

£645,888

18.7%

£544,206

-4.7%

£570,819

http://static.creditsafe.com/IMAGES/barchart-grey.png

Bank Loans & Overdrafts and LTL

0

-

0

-

0

-

0

-

0

http://static.creditsafe.com/IMAGES/barchart-grey.png

Other Long Term Finance

0

-

0

-

0

-

0

-

0

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

 

Capital & Reserves

 

Date Of Accounts

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

http://static.creditsafe.com/IMAGES/barchart-grey.png

Called Up Share Capital

£2

-

£2

-

£2

-

£2

-

£2

http://static.creditsafe.com/IMAGES/barchart-grey.png

P & L Account Reserve

£2,526,659

23.5%

£2,045,472

31%

£1,561,871

42.6%

£1,095,654

30.9%

£837,276

http://static.creditsafe.com/IMAGES/barchart-grey.png

Revaluation Reserve

£80,000

-

£80,000

-

£80,000

-

£80,000

-

£80,000

http://static.creditsafe.com/IMAGES/barchart-grey.png

Sundry Reserves

-

-

-

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Shareholder Funds

£2,606,661

22.6%

£2,125,474

29.5%

£1,641,873

39.7%

£1,175,656

28.2%

£917,278

 

Other Financial Items

 

Date Of Accounts

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

http://static.creditsafe.com/IMAGES/barchart-grey.png

Net Worth

£1,916,661

59%

£1,205,474

-26.6%

£1,641,873

39.7%

£1,175,656

28.2%

£917,278

http://static.creditsafe.com/IMAGES/barchart-grey.png

Working Capital

£1,675,268

73.9%

£963,552

-33.5%

£1,448,343

48.4%

£976,250

37.2%

£711,436

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Assets

£5,095,248

6.5%

£4,783,026

109.1%

£2,287,761

33%

£1,719,862

15.6%

£1,488,097

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Liabilities

£2,488,587

-6.4%

£2,657,552

311.5%

£645,888

18.7%

£544,206

-4.7%

£570,819

http://static.creditsafe.com/IMAGES/barchart-grey.png

Net Assets

£2,606,661

22.6%

£2,125,474

29.5%

£1,641,873

39.7%

£1,175,656

28.2%

£917,278

 

Cash Flow

 

Date Of Accounts

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

http://static.creditsafe.com/IMAGES/barchart-grey.png

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Increase in Cash

-

-

-

-

-

-

-

-

-

 

Miscellaneous

 

Date Of Accounts

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

 

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

http://static.creditsafe.com/IMAGES/barchart-grey.png

Capital Employed

£2,606,661

22.6%

£2,125,474

29.5%

£1,641,873

39.7%

£1,175,656

28.2%

£917,278

http://static.creditsafe.com/IMAGES/barchart-grey.png

Number of Employees

-

-

5

-

5

-

5

-

5

 

Auditors

 

 

Auditor Comments

The company is exempt from audit

 

Bankers

 

 

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

30/06/13

30/06/12

30/06/11

30/06/10

30/06/09

http://static.creditsafe.com/IMAGES/barchart-grey.png

Pre-tax profit margin %

-

22.55

34.94

30.21

34.97

http://static.creditsafe.com/IMAGES/barchart-grey.png

Current ratio

1.67

1.36

3.24

2.79

2.25

http://static.creditsafe.com/IMAGES/barchart-grey.png

Sales/Net Working Capital

-

2.90

1.42

1.53

1.62

http://static.creditsafe.com/IMAGES/barchart-grey.png

Gearing %

0

0

0

0

0

http://static.creditsafe.com/IMAGES/barchart-grey.png

Equity in %

59.20

55

71.80

68.40

61.60

http://static.creditsafe.com/IMAGES/barchart-grey.png

Creditor Days

-

114.65

70.29

85.51

107.94

http://static.creditsafe.com/IMAGES/barchart-grey.png

Debtor Days

-

196.59

186.15

164.25

244.90

http://static.creditsafe.com/IMAGES/barchart-grey.png

Liquidity/Acid Test

1.24

1.01

2.77

2.35

1.84

http://static.creditsafe.com/IMAGES/barchart-grey.png

Return On Capital Employed %

-

29.70

43.66

38.34

43.95

http://static.creditsafe.com/IMAGES/barchart-grey.png

Return On Total Assets Employed %

-

13.19

31.34

26.20

27.09

http://static.creditsafe.com/IMAGES/barchart-grey.png

Current Debt Ratio

0.95

1.25

0.39

0.46

0.62

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Debt Ratio

0.95

1.25

0.39

0.46

0.62

http://static.creditsafe.com/IMAGES/barchart-grey.png

Stock Turnover Ratio %

-

32.89

14.62

16.18

19.73

http://static.creditsafe.com/IMAGES/barchart-grey.png

Return on Net Assets Employed %

-

29.70

43.66

38.34

43.95

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

Status History

No Status History found

 

Event History

Date

Description

06/06/2014

Annual Returns

03/04/2014

New Accounts Filed

13/06/2013

New Accounts Filed

13/06/2013

New Accounts Filed

08/06/2013

Annual Returns

15/08/2012

Annual Returns

11/04/2012

Change of Name

03/04/2012

New Accounts Filed

27/07/2011

Annual Returns

19/05/2011

Change in Reg.Office

19/05/2011

Change of Company Postcode

26/04/2011

New Accounts Filed

26/04/2011

New Accounts Filed

17/08/2010

Annual Returns

15/04/2010

New Accounts Filed

 

 

NOTES & COMMENTS

 

Commentary

No exact match CCJs are recorded against the company.

 

Net Worth increased by 59% during the latest trading period.

 

A 6.5% growth in Total Assets occurred during the latest trading period.

 

 

The previous trading period saw no significant change in the percentage of sales.

 

There has been no discernible change in the company's pre-tax profit.

 

The company saw an increase in their Cash Balance of 33.9% during the latest trading period.

 

The company is exempt from audit.

 

No recent changes in directorship are recorded.

 

The company is not part of a group.

 

The movement in accumulated earnings would indicate that the company made a profit after tax and other appropriations, including dividends.

 

The company has changed its registered name recently.

 

The company was established over 18 years ago.

 

Show more

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.35

UK Pound

1

Rs.98.93

Euro

1

Rs.77.92

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

PDT

 

               

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

 

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NB

New Business

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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.