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Report No. : |
305582 |
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Report Date : |
02.02.2015 |
IDENTIFICATION DETAILS
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Name : |
EASCO LIMITED |
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Registered Office : |
Roundwood Farm, Bentley Lane, Stutton, Ipswich, Suffolk, Ip9 2sy |
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Country : |
United Kingdom |
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Date of Incorporation : |
19.09.2007 |
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Com. Reg. No.: |
06376060 |
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Legal Form : |
Private limited with Share
Capital |
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Line of Business : |
dormant Company |
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No of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Dissolved |
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Payment Behaviour : |
---- |
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Litigation : |
---- |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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United Kingdom |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
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EASCO LIMITED |
Telephone |
N/A |
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ROUNDWOOD FARM, BENTLEY LANE |
Fax |
- |
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STUTTON |
Website |
- |
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IPSWICH |
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SUFFOLK |
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IP9 2SY |
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United Kingdom |
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Company Number: Foundation: |
06376060 19/09/2007 |
Status: |
Company is dissolved |
Private limited with Share Capital
19/09/2007
06376060
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Name |
Currency |
Number of shares |
Share type |
Nominal value |
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DOUGLAS EDWARDS |
GBP |
1 |
ORDINARY |
1 |
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JAMES EDWARDS |
GBP |
1 |
ORDINARY |
1 |
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Total Share Capital GBP 2 |
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Directors |
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Name |
Address: |
Date of birth |
Nationality |
Appointment date |
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Mr Douglas Edwards |
Roundwood Farm, Stutton, Ipswich, Suffolk IP9 2SY |
13/11/1959 |
British |
19/09/2007 |
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Mr James
Edwards |
Charity Hall Bedfield, Woodbridge, Suffolk IP13 7HJ |
09/05/1964 |
British |
19/09/2007 |
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Company
Secretary |
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Name |
Address: |
Appointment date |
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Mr Douglas Edwards |
Roundwood Farm, Stutton, Ipswich, Suffolk IP9 2SY |
19/09/2007 |
Roundwood Farm, Bentley Lane, Stutton, Ipswich, Suffolk IP9 2SY
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Principal Activity |
The company
was dormant during y/e
30.09.13. |
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SIC03 |
Dormant company |
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SIC07 |
Dormant Company |
County Court Judgments (CCJs)
Date Amount Court Case number
Status Date paid
15/11/2010 GBP 288 NORTHAMPTON CCBC 0XH04229 Satisfied 06/01/2011
Company history
Date Action
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14/09/2010 |
New Accounts Filed |
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13/10/2010 |
Annual Returns |
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30/06/2011 |
New Accounts Filed |
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23/09/2011 |
Annual Returns |
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20/07/2012 |
New Accounts Filed |
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03/11/2012 |
Annual Returns |
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25/07/2013 |
New Accounts Filed |
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24/09/2013 |
Annual Returns |
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17/06/2014 |
New Accounts Filed |
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Remarks
Only dormant accounts have been filed. This
company was dissolved on 04.11.2014. The telephone number you give does not
relate to a UK area code and is used for diverting calls around the world. No
further details are available.
Please advise if you require any specific
documentation in relation to this company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.76 |
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UK Pound |
1 |
Rs.93.13 |
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Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.