MIRA INFORM REPORT

 

 

Report No. :

317892

Report Date :

16.04.2015

 

IDENTIFICATION DETAILS

 

Name :

WESTZONE LTD

 

 

Registered Office :

115 Ullswater Crescentlondonsw15 3RE

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

18.09.1996

 

 

Com. Reg. No.:

03251338

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Packaging Activities.

 

 

No. of Employee :

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 :

Slow but correct

 

 

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. 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. In 2008, 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. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. 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 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 5.8% in 2013. The Bank of England (BoE) implemented an asset purchase program of �375 billion (approximately $586 billion) as of December 2014. 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 INVESTMENThttps://cdncache1-a.akamaihd.net/items/it/img/arrow-10x10.png weighed on the economy, however, in 2013 GDP grew 1.8%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

 

Source : CIA

 

Company name and address

 

Company Name

WESTZONE LTD

 

Company No

03251338

 

Registered Address

115 ULLSWATER CRESCENT LONDON SW15 3RE

 

 

Company Summary

 

Registered Address

115 ULLSWATER CRESCENT LONDON SW15 3RE

Trading Address

115 Ullswater Crescent London SW15 3RE

Website Address

--

 

 

Telephone Number

02085496691

Fax Number

 

TPS

Yes

FPS

No

Incorporation Date

18/09/1996

 

 

Previous Name

--

Type

Private limited with Share Capital

FTSE Index

--

Date of Change

--

Filing Date of Accounts

26/11/2014

Currency

GBP

Share Capital

£100

SIC07

46900

Charity Number

--

 

 

SIC07 Description

NON-SPECIALISED WHOLESALE TRADE

Principal Activity

Packaging activities.

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/03/2014

--

--

£35,725

--

31/03/2013

--

--

£2,395

--

31/03/2012

--

--

-£80,008

--

 

 

Mortgage Summary

 

Total Mortgage             1

Outstanding                 1

Satisfied                       0

 

 

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 positive net working capital position.

The high debt/equity ratio indicates that assets are funded primarily by creditors rather than equity/reinvested profits.

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.

 

 

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 -

-

 

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

4

 

 

Current Directors

 

Name

Rana Kuwatly-Hakim

Date of Birth

20/08/1958

Officers Title

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

01/10/1996

Address

115 Ullswater Crescent, London, SW15 3RE

 

Name

Nabil Hakim

Date of Birth

17/01/1952

Officers Title

Mr

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

01/02/1999

Address

115 Ullswater Crescent, London, SW15 3RE

 

 

Current Company Secretary

 

Name

Nabil Hakim

Date of Birth

17/01/1952

Officers Title

Mr

Nationality

British

Present Appointments

5

Function

Company Secretary

Appointment Date

01/07/2000

Address

115 Ullswater Crescent, London, SW15 3RE

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

RANA KUWATLY-HAKIM

GBP

80

ORDINARY

1

80

NABIL HAKIM

GBP

20

ORDINARY

1

20

 

 

Profit & Loss

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

-

-

-

-

-

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

-

-

-

-

-

-

-

-

-

Depreciation

£696

74.4%

£399

-86.8%

£3,025

-40.9%

£5,118

-3.3%

£5,295

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Tangible Assets

£911

-43.3%

£1,607

117.2%

£740

-74.8%

£2,932

-63.6%

£8,050

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£911

-43.3%

£1,607

117.2%

£740

-74.8%

£2,932

-63.6%

£8,050

Stock

£66,127

-82.4%

£376,217

165.3%

£141,785

76.3%

£80,405

7.8%

£74,554

Trade Debtors

£506,043

137.1%

£213,440

849.7%

£22,474

-80.7%

£116,608

6.1%

£109,950

Cash

£71,692

101.6%

£35,554

999.9%

£2,991

-32.9%

£4,458

-99%

£425,186

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£643,862

3%

£625,211

273.8%

£167,250

-17%

£201,471

-67%

£609,690

Trade Creditors

£469,060

-3.5%

£486,114

335.5%

£111,624

-21%

£141,261

-73.9%

£540,601

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

Total Current Liabilities

£469,060

-3.5%

£486,114

335.5%

£111,624

-21%

£141,261

-73.9%

£540,601

Bank Loans & Overdrafts and LTL

£139,988

1.2%

£138,309

1.4%

£136,374

2.8%

£132,646

26.3%

£105,063

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

£139,988

1.2%

£138,309

1.4%

£136,374

2.8%

£132,646

26.3%

£105,063

.

 

Capital & Reserves

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Called Up Share Capital

£100

-

£100

-

£100

-

£100

-

£100

P & L Account Reserve

£35,625

999.9%

£2,295

102.9%

-£80,108

-15.1%

-£69,604

-148.4%

-£28,024

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£35,725

999.9%

£2,395

103%

-£80,008

-15.1%

-£69,504

-148.9%

-£27,924

 

 

Other Financial Items

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Net Worth

£35,725

999.9%

£2,395

103%

-£80,008

-15.1%

-£69,504

-148.9%

-£27,924

Working Capital

£174,802

25.7%

£139,097

150.1%

£55,626

-7.6%

£60,210

-12.9%

£69,089

Total Assets

£644,773

2.9%

£626,818

273.1%

£167,990

-17.8%

£204,403

-66.9%

£617,740

Total Liabilities

£609,048

-2.5%

£624,423

151.8%

£247,998

-9.5%

£273,907

-57.6%

£645,664

Net Assets

£35,725

999.9%

£2,395

103%

-£80,008

-15.1%

-£69,504

-148.9%

-£27,924

 

 

Miscellaneous

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£175,713

24.9%

£140,704

149.6%

£56,366

-10.7%

£63,142

-18.1%

£77,139

Number of Employees

-

-

-

-

-

-

-

-

-

 

 

Auditors

Auditor Comments

The company is exempt from audit

Bankers

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/03/14

31/03/13

31/03/12

31/03/11

31/03/10

Pre-tax profit margin %

-

-

-

-

-

Current ratio

1.37

1.29

1.50

1.43

1.13

Sales/Net Working Capital

-

-

-

-

-

Gearing %

391.80

5774.90

-170.50

-190.80

-376.20

Equity in %

5.50

0.40

-47.60

-34

-4.50

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

1.23

0.51

0.22

0.85

0.98

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

13.12

202.97

-1.39

-2.03

-19.35

Total Debt Ratio

17.04

260.71

-3.09

-3.94

-23.12

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

05/12/2014

New Accounts Filed

02/11/2014

Annual Returns

13/01/2014

New Accounts Filed

19/10/2013

Annual Returns

15/01/2013

New Accounts Filed

04/10/2012

Annual Returns

13/01/2012

New Accounts Filed

18/10/2011

Annual Returns

07/01/2011

New Accounts Filed

12/10/2010

Annual Returns

02/02/2010

New Accounts Filed

30/11/2009

Annual Returns

08/03/2009

New Accounts Filed

23/09/2008

Annual Returns

05/06/2008

New Accounts Filed

 

Previous Company Names

 

No Previous Names found

 

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

-

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

-

Ownership Status

Ultimate Holding Company

-

 

 

Group StructureFull

 

No Group Structure

 

 

Mortgage Details

 

Mortgage Type:

DEBENTURE

Date Charge Created:

12/07/07

Date Charge Registered:

17/07/07

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

LLOYDS TSB BANK PLC

Amount Secured:

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

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

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

Garth Thomas Broughton

0

2

Garth Thomas Broughton

0

2

FORM 10 DIRECTORS FD LTD

118

99276

FORM 10 SECRETARIES FD LTD

136

87065

Average Invoice Value

£380.92

Invoices available

20

Paid

20

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

19

1

0

0

0

Outstanding

0

0

0

0

0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.40

UK Pound

1

Rs.92.15

Euro

1

Rs.66.48

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ANK

 

 

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.