MIRA INFORM REPORT

 

 

Report No. :

317285

Report Date :

11.04.2015

 

IDENTIFICATION DETAILS

 

Name :

GLOBETROTTERS TRAVEL AND TOURS LTD

 

 

Registered Office :

Cervantes House, 5-9 Headstone Road, Harrow Midlesex HA1, 1PD

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

29.11.2006

 

 

Com. Reg. No.:

06013427

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Tour Operator Activities

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Slow

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 summary

 

Registered Address

Cervantes House, 5-9 Headstone Road, Harrow Midlesex HA1, 1PD

Trading Address

Cervantes House, 5-9 Headstone Road, Harrow Midlesex HA1, 1PD

Website Address

http://www.gttnt.com

Company Number

06013427

Telephone Number

02084260647

Fax Number

--

TPS

No

FPS

No

Incorporation Date

29/11/2006

Type

Private Limited With Share Capital

Previous Name

--

FTSE Index

--

Currency

GBP

Filling Date of Accounts

30/09/2014

SIC07

79120

Share Capital

£100

SIC07 Description

Tour Operator Activities

Charity Number

--

 

 

Key Financials

 

Year to Date

 

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/12/2013

--

--

-£85,103

--

31/12/2012

--

--

-£95,640

--

31/12/2011

--

--

-£78,651

--

 

 

 

Mortgage Summary

 

Total Mortgage              2

Outstanding                  1

Satisfied                       1

 

 

Trade Debtors/Bad Debt Summary

 

Total Number of Documented Trade                   0

Total Value of Documented Trade                      £0

 

 

Commentary

 

This company has been treated as a Small company in respect of the rating/limit generated.

The latest Balance Sheet indicates a very positive net working capital position.

The latest cash balances represent a positive level in terms of the overall outstanding creditor obligations.

There has been an increase in shareholders’ funds compared with the previous balance sheet.

This company trades in an industry with a moderate level of corporate failures.

Current Directors

 

Name

Homiyar Antalia

Date of Birth

03/05/1960

Officers Title

Nationality

Indian

Present Appointments

2

Function

Director

Appointment Date

29/11/2006

Address

2/16 A.h Wadia Baug, Parel Tank Road, G.d Ambekar Marg, Parel, Mumbai, 400033

 

Name

Dipak Adhia

Date of Birth

30/01/1963

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

29/11/2006

Address

Cervantes House, 5-9 Headstone, Road, Harrow, Middlesex, HA1 1PD

 

 

Current Company Secretary

 

Name

Dipak Adhia

Date of Birth

30/01/1963

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Company Secretary

Appointment Date

29/11/2006

Address

Cervantes House, 5-9 Headstone, Road, Harrow, Middlesex, HA1 1PD

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

DIPAK ADHIA

GBP

50

ORDINARY

1

50

HOMIYAR HANTALIA

GBP

50

ORDINARY

1

50

 

 

Profit & Loss

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

barchart-grey

Turnover

-

-

-

-

-

-

-

-

-

barchart-grey

Export

-

-

-

-

-

-

-

-

-

barchart-grey

Cost of Sales

-

-

-

-

-

-

-

-

-

barchart-grey

Gross Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Wages & Salaries

-

-

-

-

-

-

-

-

-

barchart-grey

Directors Emoluments

-

-

-

-

-

-

-

-

-

barchart-grey

Operating Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Depreciation

£16,460

-5.3%

£17,383

-1.6%

£17,662

3.9%

£16,996

14.2%

£14,880

barchart-grey

Audit Fees

-

-

-

-

-

-

-

-

-

barchart-grey

Interest Payments

-

-

-

-

-

-

-

-

-

barchart-grey

Pre Tax Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Taxation

-

-

-

-

-

-

-

-

-

barchart-grey

Profit After Tax

-

-

-

-

-

-

-

-

-

barchart-grey

Dividends Payable

-

-

-

-

-

-

-

-

-

barchart-grey

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

barchart-grey

Tangible Assets

£4,618

-76.8%

£19,898

-35.6%

£30,908

14.2%

£27,059

-62.9%

£72,919

barchart-grey

Intangible Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Fixed Assets

£4,618

-76.8%

£19,898

-35.6%

£30,908

14.2%

£27,059

-62.9%

£72,919

barchart-grey

Stock

0

-

0

-

0

-

0

-

0

barchart-grey

Trade Debtors

£105,020

0.5%

£104,523

1.4%

£103,033

-68.6%

£328,448

31.7%

£249,386

barchart-grey

Cash

£147,731

70.2%

£86,776

90.3%

£45,595

115.8%

£21,133

-81.5%

£113,952

barchart-grey

Other Debtors

0

-

0

-

0

-

0

-

0

barchart-grey

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Current Assets

£252,751

32.1%

£191,299

28.7%

£148,628

-57.5%

£349,581

-3.8%

£363,338

barchart-grey

Trade Creditors

£138,523

34.6%

£102,888

89.7%

£54,238

-81.8%

£297,488

81.6%

£163,817

barchart-grey

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

barchart-grey

Other Short Term Finance

0

-

0

-

0

-

0

-

0

barchart-grey

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

barchart-grey

Total Current Liabilities

£138,523

34.6%

£102,888

89.7%

£54,238

-81.8%

£297,488

81.6%

£163,817

barchart-grey

Bank Loans & Overdrafts and LTL

£203,949

-

£203,949

-

£203,949

-

£203,949

-5.5%

£215,905

barchart-grey

Other Long Term Finance

0

-

0

-

0

-

0

-

0

barchart-grey

Total Long Term Liabilities

£203,949

-

£203,949

-

£203,949

-

£203,949

-5.5%

£215,905

 

 

Capital & Reserves

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

barchart-grey

Called Up Share Capital

£100

-

£100

-

£100

-

£100

-

£100

barchart-grey

P & L Account Reserve

-£85,203

11%

-£95,740

-21.6%

-£78,751

36.9%

-£124,897

-321.3%

£56,435

barchart-grey

Revaluation Reserve

-

-

-

-

-

-

-

-

-

barchart-grey

Sundry Reserves

-

-

-

-

-

-

-

-

-

barchart-grey

Shareholder Funds

-£85,103

11%

-£95,640

-21.6%

-£78,651

37%

-£124,797

-320.7%

£56,535

 

 

Other Financials Items

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

barchart-grey

Net Worth

-£85,103

11%

-£95,640

-21.6%

-£78,651

37%

-£124,797

-320.7%

£56,535

barchart-grey

Working Capital

£114,228

29.2%

£88,411

-6.3%

£94,390

81.2%

£52,093

-73.9%

£199,521

barchart-grey

Total Assets

£257,369

21.9%

£211,197

17.6%

£179,536

-52.3%

£376,640

-13.7%

£436,257

barchart-grey

Total Liabilities

£342,472

11.6%

£306,837

18.8%

£258,187

-48.5%

£501,437

32.1%

£379,722

barchart-grey

Net Assets

-£85,103

11%

-£95,640

-21.6%

-£78,651

37%

-£124,797

-320.7%

£56,535

 

 

Miscellaneous

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

barchart-grey

Capital Employed

£118,846

9.7%

£108,309

-13.6%

£125,298

58.3%

£79,152

-70.9%

£272,440

barchart-grey

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

Auditor Comments

The company is exempt from audit

Bankers

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/12/13

31/12/12

31/12/11

31/12/10

31/12/09

barchart-grey

Pre-tax profit margin %

-

-

-

-

-

barchart-grey

Current ratio

1.82

1.86

2.74

1.18

2.22

barchart-grey

Sales/Net Working Capital

-

-

-

-

-

barchart-grey

Gearing %

-239.60

-213.20

-259.30

-163.40

381.90

barchart-grey

Equity in %

-33.10

-45.30

-43.80

-33.10

13

barchart-grey

Creditor Days

-

-

-

-

-

barchart-grey

Debtor Days

-

-

-

-

-

barchart-grey

Liquidity/Acid Test

1.82

1.85

2.74

1.17

2.21

barchart-grey

Return On Capital Employed %

-

-

-

-

-

barchart-grey

Return On Total Assets Employed %

-

-

-

-

-

barchart-grey

Current Debt Ratio

-1.62

-1.07

-0.68

-2.38

2.89

barchart-grey

Total Debt Ratio

-4.02

-3.20

-3.28

-4.01

6.71

barchart-grey

Stock Turnover Ratio %

-

-

-

-

-

barchart-grey

Return on Net Assets Employed %

-

-

-

-

-

 

Event History

 

Date

Description

18/12/2014

Annual Returns

14/10/2014

New Accounts Filed

12/12/2013

Annual Returns

09/10/2013

New Accounts Filed

12/12/2012

Annual Returns

01/10/2012

New Accounts Filed

15/12/2011

Annual Returns

10/10/2011

New Accounts Filed

10/10/2011

New Accounts Filed

30/12/2010

Annual Returns

13/10/2010

New Accounts Filed

11/12/2009

Annual Returns

06/10/2009

New Accounts Filed

28/12/2008

Annual Returns

05/10/2008

New Accounts Filed

 

 

Mortgage Details

 

Mortgage Type:

DEPOSIT AGREEMENT

Date Charge Created:

17/01/12

Date Charge Registered:

02/02/12

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

FIRLE INVESTMENTS 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:

£6,462.50

 

 

Mortgage Type:

DEPOSIT AGREEMENT

Date Charge Created:

15/02/07

Date Charge Registered:

28/02/07

Date Charge Satisfied:

09/02/12

Status:

SATISFIED

Person(s) Entitled:

FIRLE INVESTMENTS LIMITED

Amount Secured:

Details:

£12,925.00

 

 

Previous Director/Company Secretaries

 

No Previous Director Details

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.36

UK Pound

1

Rs.91.60

Euro

1

Rs.66.49

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.