MIRA INFORM REPORT
|
Report No. : |
334940 |
|
Report Date : |
07.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
GAMA MEDITERRANEAN FOODS LIMITED |
|
|
|
|
Formerly Known As : |
GAMA CASH &
CARRY LIMITED |
|
|
|
|
Registered Office : |
Unit B Horizon Business Centre 84 Goodwin Road Edmonton N9 0bj |
|
|
|
|
Country : |
United
Kingdom |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
30.07.2001 |
|
|
|
|
Com. Reg. No.: |
04260968 |
|
|
|
|
Legal Form : |
Private limited with share capital |
|
|
|
|
Line of Business : |
Non-Specialised Wholesale Of Food, Beverages And Tobacco |
|
|
|
|
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.
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 investment 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
GAMA MEDITERRANEAN FOODS LIMITED
Registered Address
UNIT B HORIZON
BUSINESS CENTRE
84 GOODWIN ROAD
EDMONTON
N9 0BJ
Company No
04260968
Company Status
Active - Accounts Filed
Company Summary
Registered Address UNIT
B HORIZON BUSINESS CENTRE
84 GOODWIN ROAD
EDMONTON
N9 0BJ
Trading Address Unit B-F, Horizon Business Centre
84 Goodwin Road
Edmonton
London
N9 0BJ
Website Address http://www.gamauk.com
Telephone Number 02088077373
Fax Number
TPS No
FPS No
Incorporation Date 30/07/2001
Previous Name GAMA CASH & CARRY LIMITED
Type Private limited with Share Capital
FTSE Index -
Date of Change 06/09/2004
Filing Date of Accounts 08/06/2015
Currency GBP
Share Capital £100
SIC07 6390
Charity Number -
SIC07 Description NON-SPECIALISED WHOLESALE OF FOOD, BEVERAGES AND TOBACCO
Principal Activity Non-specialised wholesale food
Key Financials
Year to Date Turnover Pre Tax Profit Shareholder Funds
Employees
31/03/2015 - - £1,335,703 -
31/03/2014 - - £1,044,646 -
31/03/2013 - - £720,331 -
Mortgage Summary
Total Mortgage 3
Outstanding 3
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 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. |
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 |
1 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors /
Company Secretaries |
4 |
Current Directors
|
Name |
Ali
Sancak |
Date
of Birth |
08/12/1958 |
|
Officers
Title |
Mr |
Nationality |
British |
|
Present
Appointments |
8 |
Function |
Director |
|
Appointment
Date |
30/07/2001 |
||
|
Address |
7 Athole
Gardens, Enfield, Middlesex, EN1 2EW |
||
Current Company Secretary
|
Name |
Erhan
Sancak |
Date
of Birth |
- |
|
Officers
Title |
Mr |
Nationality |
|
|
Present
Appointments |
2 |
Function |
Company
Secretary |
|
Appointment
Date |
01/04/2009 |
||
|
Address |
Horizon
Business Centre 84 Goodwin Road, London, N9 0BJ |
||
Top 20 Shareholders
|
Name |
Currency |
Share
Count |
Share
Type |
Nominal
Value |
%
of Total Share Count |
|
ALI
SANCAK |
GBP |
90 |
ORDINARY |
1 |
90 |
|
ERHAN
SANCAK |
GBP |
10 |
ORDINARY |
1 |
10 |
Profit & Loss
|
Date Of Accounts |
31/03/15 |
(%) |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
|
|
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 |
£1,784 |
-20% |
£2,231 |
- |
- |
- |
- |
- |
- |
|
|
Audit Fees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Interest Payments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Pre Tax Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Taxation |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Profit After Tax |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Retained Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Balance Sheet
|
Date Of Accounts |
31/03/15 |
(%) |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
|
|
|
Tangible Assets |
£7,136 |
-20% |
£8,920 |
- |
0 |
- |
0 |
- |
0 |
|
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Fixed Assets |
£7,136 |
-20% |
£8,920 |
- |
0 |
- |
0 |
- |
0 |
|
|
Stock |
£415,230 |
1.1% |
£410,705 |
19.4% |
£343,913 |
5.4% |
£326,323 |
142.9% |
£134,327 |
|
|
Trade Debtors |
£1,010,932 |
32.3% |
£764,395 |
-24.2% |
£1,008,456 |
21.7% |
£828,341 |
3% |
£804,226 |
|
|
Cash |
£333,706 |
-33.5% |
£501,739 |
13.9% |
£440,342 |
-9.1% |
£484,628 |
4.4% |
£464,280 |
|
|
Other Debtors |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Current Assets |
£1,759,868 |
5% |
£1,676,839 |
-6.5% |
£1,792,711 |
9.4% |
£1,639,292 |
16.9% |
£1,402,833 |
|
|
Trade Creditors |
£431,301 |
-32.7% |
£641,113 |
-40.2% |
£1,072,380 |
-6.6% |
£1,147,798 |
29.1% |
£889,287 |
|
|
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 |
£431,301 |
-32.7% |
£641,113 |
-40.2% |
£1,072,380 |
-6.6% |
£1,147,798 |
29.1% |
£889,287 |
|
|
Bank Loans & Overdrafts and
LTL |
0 |
- |
0 |
- |
0 |
- |
0 |
-100% |
£108,090 |
|
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Long Term Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
-100% |
£108,090 |
Capital & Reserves
|
Date Of Accounts |
31/03/15 |
(%) |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
|
|
|
Called Up Share Capital |
£100 |
- |
£100 |
- |
£100 |
- |
£100 |
- |
£100 |
|
|
P & L Account Reserve |
£1,335,603 |
27.9% |
£1,044,546 |
45% |
£720,231 |
46.6% |
£491,394 |
21.2% |
£405,356 |
|
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Shareholder Funds |
£1,335,703 |
27.9% |
£1,044,646 |
45% |
£720,331 |
46.6% |
£491,494 |
21.2% |
£405,456 |
Other Financial Items
|
Date Of Accounts |
31/03/15 |
(%) |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
|
|
|
Net Worth |
£1,335,703 |
27.9% |
£1,044,646 |
45% |
£720,331 |
46.6% |
£491,494 |
21.2% |
£405,456 |
|
|
Working Capital |
£1,328,567 |
28.3% |
£1,035,726 |
43.8% |
£720,331 |
46.6% |
£491,494 |
-4.3% |
£513,546 |
|
|
Total Assets |
£1,767,004 |
4.8% |
£1,685,759 |
-6% |
£1,792,711 |
9.4% |
£1,639,292 |
16.9% |
£1,402,833 |
|
|
Total Liabilities |
£431,301 |
-32.7% |
£641,113 |
-40.2% |
£1,072,380 |
-6.6% |
£1,147,798 |
15.1% |
£997,377 |
|
|
Net Assets |
£1,335,703 |
27.9% |
£1,044,646 |
45% |
£720,331 |
46.6% |
£491,494 |
21.2% |
£405,456 |
Cash Flow
|
Date Of Accounts |
31/03/15 |
(%) |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
|
|
|
Net Cashflow from Operations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Net Cashflow before Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Net Cashflow from Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Increase in Cash |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Miscellaneous
|
Date Of Accounts |
31/03/15 |
(%) |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
|
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
|
|
Capital Employed |
£1,335,703 |
27.9% |
£1,044,646 |
45% |
£720,331 |
46.6% |
£491,494 |
-4.3% |
£513,546 |
|
|
Number of Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Accountants |
ALTON & CO |
|||||||||
|
Auditors |
||||||||||
|
Auditor Comments |
The company is exempt from
audit |
|||||||||
|
Bankers |
||||||||||
|
Bank Branch Code |
||||||||||
Ratios
|
Date Of Accounts |
31/03/15 |
31/03/14 |
31/03/13 |
31/03/12 |
31/03/11 |
|
|
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
|
Current ratio |
4.08 |
2.62 |
1.67 |
1.43 |
1.58 |
|
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
|
Gearing % |
0 |
0 |
0 |
0 |
26.70 |
|
|
Equity in % |
75.60 |
62 |
40.20 |
30 |
28.90 |
|
|
Creditor Days |
- |
- |
- |
- |
- |
|
|
Debtor Days |
- |
- |
- |
- |
- |
|
|
Liquidity/Acid Test |
3.11 |
1.97 |
1.35 |
1.14 |
1.42 |
|
|
Return On Capital Employed % |
- |
- |
- |
- |
- |
|
|
Return On Total Assets Employed
% |
- |
- |
- |
- |
- |
|
|
Current Debt Ratio |
0.32 |
0.61 |
1.48 |
2.33 |
2.19 |
|
|
Total Debt Ratio |
0.32 |
0.61 |
1.48 |
2.33 |
2.45 |
|
|
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 |
|
04/08/2015 |
Annual
Returns |
|
11/06/2015 |
New
Accounts Filed |
|
04/08/2014 |
Annual
Returns |
|
04/08/2014 |
Annual
Returns |
|
28/05/2014 |
New
Accounts Filed |
|
03/08/2013 |
Annual
Returns |
|
25/06/2013 |
New
Accounts Filed |
|
03/08/2012 |
Annual
Returns |
|
20/06/2012 |
New
Accounts Filed |
|
20/06/2012 |
New
Accounts Filed |
|
06/08/2011 |
Annual
Returns |
|
18/06/2011 |
New
Accounts Filed |
|
09/08/2010 |
Annual
Returns |
|
18/06/2010 |
New
Accounts Filed |
|
10/08/2009 |
Annual
Returns |
Previous Company Names
|
Date |
Previous
Name |
|
06/09/2004 |
GAMA
CASH & CARRY LIMITED |
Writ Details
|
No
writs found |
Statistics
|
Group |
- |
|
Linkages |
0 companies |
|
Countries |
In 0 countries |
Summary
|
Holding
Company |
- |
|
Ownership
Status |
|
|
Ultimate
Holding Company |
- |
Group Structure Full
No Group Structure
Mortgage Details
|
Mortgage
Type: |
FIXED
& FLOATING CHARGE |
||
|
Date
Charge Created: |
28/11/08 |
||
|
Date
Charge Registered: |
03/12/08 |
||
|
Date
Charge Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s)
Entitled: |
BARCLAYS
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 CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT
AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS,
FIXTURES, FIXED PLANT & MACHINERY |
||
|
Mortgage
Type: |
GUARANTEE
& DEBENTURE |
||
|
Date
Charge Created: |
16/10/06 |
||
|
Date
Charge Registered: |
21/10/06 |
||
|
Date
Charge Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s)
Entitled: |
BARCLAYS
BANK PLC |
||
|
Amount
Secured: |
ALL
MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE
OTHERCOMPANIES NAMED THEREIN 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 |
||
|
Mortgage
Type: |
DEBENTURE |
||
|
Date
Charge Created: |
04/01/02 |
||
|
Date
Charge Registered: |
10/01/02 |
||
|
Date
Charge Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s)
Entitled: |
BARCLAYS
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 |
|
Olcay
Yamanel |
3 |
4 |
|
Deborah
Ann Searle |
2 |
147 |
|
Ali
Sancak |
8 |
3 |
|
Ebru
Sancak |
1 |
2 |
|
Average
Invoice Value |
n/a |
|
|
Invoices
available |
n/a |
|
|
Paid |
n/a |
|
|
Outstanding |
n/a |
|
|
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 |
|||||
|
Outstanding |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.93 |
|
UK Pound |
1 |
Rs.99.82 |
|
Euro |
1 |
Rs.70.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
TRU |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.