MIRA INFORM REPORT

 

 

Report Date :

22.09.2014

 

IDENTIFICATION DETAILS

 

Name :

TGR (IMPORT & EXPORT) LIMITED

 

 

Registered Office :

41 ST Clair Street, Edinburgh EH6 8LB

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

08.09.2010

 

 

Com. Reg. No.:

SC385007

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Wholesale of Building and Engineering Supplies.

 

 

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

 

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

 

REGISTERED NAME & COMPANY SUMMARY

 

COMPANY NAME:                     TGR (IMPORT & EXPORT) LIMITED

 

COMPANY NO.:                        SC385007

 

COMPANY STATUS:                 Active-Accounts Filed

 

 

 

DIRECTORS/MANAGEMENT

 

Current Directors

Name

Kenneth Wishart Paterson-Brown

Date of Birth

23/01/1956

Officers Title

Mr

Nationality

British

Present Appointments

8

Function

Director

Appointment Date

01/01/2014

 

 

Address

41 St Clair Street, Edinburgh, EH6 8LB

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Tom Miller

Date of Birth

16/12/1954

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

08/09/2010

 

 

Address

26 Lithgow Place, Denny, Stirlingshire, FK6 5BF

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Robert Reid Law

Date of Birth

12/03/1956

Officers Title

Mr

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

08/09/2010

 

 

Address

53a Edinburgh Road, Musselburgh, Midlothian, EH21 6EE

 

 

NEGATIVE INFORMATION  

 

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 -

-

 

 

 

Exact CCJ Details

No CCJs found

 

Possible CCJs Details

There are no possible CCJ details

 

Writ Details

No writs found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

D.F. WISHART (HOLDINGS) LTD

GBP

10,000

ORDINARY

1

100

 

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

4 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

D.F. WISHART (HOLDINGS) LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

DFW 1928 LIMITED

 

Group structure

Company Name

 

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

DFW 1928 LIMITED

 

SC463401

-

N

 

D.F. WISHART (HOLDINGS...

 

SC015030

31.12.2013

N

 

LOCAL DIY LIMITED

 

SC385006

31.12.2013

N

 

TGR (IMPORT & EXPORT...

 

SC385007

31.12.2013

N

 

 

 

FINANCIAL INFORMATION

 

 

 

Profit & Loss

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

-

(%)

-

Weeks

52

(%)

52

(%)

52

(%)

-

(%)

-

Currency

GBP

(%)

GBP

(%)

GBP

(%)

-

(%)

-

Consolidated A/cs

N

(%)

N

(%)

N

(%)

-

(%)

-

Turnover

-

-

-

-

£2,309,101

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-100%

£1,857,296

-

-

-

-

Gross Profit

-

-

-

-

£451,805

-

-

-

-

Wages & Salaries

-

-

-

-

£217,579

-

-

-

-

Directors Emoluments

-

-

-

-

£103,069

-

-

-

-

Operating Profit

-

-

-

-

£66,779

-

-

-

-

Depreciation

£15,493

-13%

£17,815

14.2%

£15,603

-

-

-

-

Audit Fees

-

-

-

-

£4,000

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

£66,834

-

-

-

-

Taxation

-

-

-

-

-£10,300

-

-

-

-

Profit After Tax

-

-

-

-

£56,534

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

£56,534

-

-

-

-

 

Balance Sheet

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

-

(%)

-

Tangible Assets

£46,108

-14.8%

£54,103

-8.3%

£58,986

-

-

-

-

Intangible Assets

£2,960

-10.9%

£3,323

146.5%

£1,348

-

-

-

-

Total Fixed Assets

£49,068

-14.6%

£57,426

-4.8%

£60,334

-

-

-

-

Stock

£790,933

-39.8%

£1,313,858

50.1%

£875,248

-

-

-

-

Trade Debtors

£657,147

-13.9%

£763,153

124.3%

£340,197

-

-

-

-

Cash

£379

-83.9%

£2,353

-86.9%

£17,925

-

-

-

-

Other Debtors

0

-100%

£3,366

-97%

£110,648

-

-

-

-

Miscellaneous Current Assets

0

-

0

-

0

-

-

-

-

Total Current Assets

£1,448,459

-30.5%

£2,082,730

55%

£1,344,018

-

-

-

-

Trade Creditors

£342,986

-83.2%

£2,036,938

999.9%

£98,215

-

-

-

-

Bank Loans & Overdrafts

0

-

0

-

0

-

-

-

-

Other Short Term Finance

0

-

0

-100%

£1,200,916

-

-

-

-

Miscellaneous Current Liabilities

0

-

0

-100%

£34,835

-

-

-

-

Total Current Liabilities

£342,986

-83.2%

£2,036,938

52.7%

£1,333,966

-

-

-

-

Bank Loans & Overdrafts and LTL

£1,001,751

999.9%

£4,247

10.3%

£3,852

-

-

-

-

Other Long Term Finance

0

-

0

-

0

-

-

-

-

Total Long Term Liabilities

£1,001,751

999.9%

£4,247

10.3%

£3,852

-

-

-

-

 

 

Capital & Reserves

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

-

(%)

-

Called Up Share Capital

£10,000

-

£10,000

-

£10,000

-

-

-

-

P & L Account Reserve

£142,790

60.5%

£88,971

57.4%

£56,534

-

-

-

-

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£152,790

54.4%

£98,971

48.8%

£66,534

-

-

-

-

Other Financial Items

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

-

(%)

-

Net Worth

£149,830

56.6%

£95,648

46.7%

£65,186

-

-

-

-

Working Capital

£1,105,473

999.9%

£45,792

355.6%

£10,052

-

-

-

-

Total Assets

£1,497,527

-30%

£2,140,156

52.4%

£1,404,352

-

-

-

-

Total Liabilities

£1,344,737

-34.1%

£2,041,185

52.6%

£1,337,818

-

-

-

-

Net Assets

£152,790

54.4%

£98,971

48.8%

£66,534

-

-

-

-

 

Cash Flow

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

-

(%)

-

Net Cashflow from Operations

-

-

-

-

-£1,117,894

-

-

-

-

Net Cashflow before Financing

-

-

-

100%

-£1,191,847

-

-

-

-

Net Cashflow from Financing

-

-

-

-

£1,209,772

-

-

-

-

Increase in Cash

-

-

-

-

£17,925

-

-

-

-

 

Miscellaneous

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

-

(%)

-

Contingent Liability

NO

-

NO

-

NO

-

-

-

-

Capital Employed

£1,154,541

999.9%

£103,218

46.6%

£70,386

-

-

-

-

Number of Employees

-

-

-

-

5

-

-

-

-

Auditors

WHITELAW WELLS

Auditor Comments

The audit report contains no adverse comments

Bankers

BANK OF SCOTLAND

Bank Branch Code

80-46-38

 

Ratios

Date Of Accounts

31/12/13

31/12/12

31/12/11

-

-

Pre-tax profit margin %

-

-

2.89

-

-

Current ratio

4.22

1.02

1.01

-

-

Sales/Net Working Capital

-

-

229.72

-

-

Gearing %

655.60

4.30

5.80

-

-

Equity in %

10.20

4.60

4.70

-

-

Creditor Days

-

-

15.48

-

-

Debtor Days

-

-

53.62

-

-

Liquidity/Acid Test

1.91

0.37

0.35

-

-

Return On Capital Employed %

-

-

94.95

-

-

Return On Total Assets Employed %

-

-

4.75

-

-

Current Debt Ratio

2.24

20.58

20.04

-

-

Total Debt Ratio

8.80

20.62

20.10

-

-

Stock Turnover Ratio %

-

-

37.90

-

-

Return on Net Assets Employed %

-

-

100.45

-

-

 

Creditor Details

 

Total Number

Total Value

Trade Creditors

0

-

 

No Creditor Data

 

Trade Debtors / Bad Debt Detail

 

Total Number of Documented Trade

Total Value of Documented Trade

Trade Debtors

1

£859

 

Company Name

Amount

Statement Date

Tools And Equipment Ltd

£859

10/04/2014

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

 

ADDITIONAL INFORMATION

 

Current Company Secretary

Name

Robert Reid Law

Date of Birth

-

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Company Secretary

Appointment Date

08/09/2010

 

 

Address

53a Edinburgh Road, Musselburgh, Midlothian, EH21 6EE

 

Status History

No Status History found

 

Event History

Date

Description

14/09/2014

Annual Returns

06/08/2014

New Accounts Filed

06/08/2014

New Accounts Filed

10/01/2014

New Board Member Mr K.W. Paterson-Brown appointed

14/09/2013

Annual Returns

15/08/2013

New Accounts Filed

14/09/2012

Annual Returns

18/06/2012

New Accounts Filed

15/09/2011

Annual Returns

17/09/2010

New Company Secretary Mr R.R. Law appointed

17/09/2010

New Board Member Mr R.R. Law appointed

17/09/2010

New Board Member Mr T. Miller appointed

 

 

Previous Company Names

No Previous Names found

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

D.W. COMPANY SERVICES LIMITED

0

1

D.W. DIRECTOR 1 LIMITED

0

1

D.W. COMPANY SERVICES LIMITED

0

1

Kenneth Charles Rose

48

135

NOTES & COMMENTS

 

Commentary

 

No exact match CCJs are recorded against the company.

 

Net Worth increased by 56.6% during the latest trading period.

 

A 30% decline in Total Assets occurred during the latest trading period.

 

The audit report contains no adverse comments.

 

 

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 saw a decrease in their Cash Balance of 83.9% during the latest trading period.

 

The company has undergone recent changes in its directorships.

 

The company is 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 was established over 4 years ago.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.81

UK Pound

1

Rs.100.06

Euro

1

Rs.78.47

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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.