MIRA INFORM REPORT

 

 

Report No. :

305921

Report Date :

02.02.2015

 

IDENTIFICATION DETAILS

 

Name :

VENUS STAINLESS UK LIMITED

 

 

Registered Office :

5 Highfield Road, Kirkburton, Huddersfield, HD8 0RQ

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

02.11.2004

 

 

Com. Reg. No.:

05275480

 

 

Legal Form :

Private Limited with Share Capital

 

 

Line of Business :

·         Engaged in provision of Marketing Consultants.

·         Agents involved in the sale of Fuels, Ores, Metals and Industrial Chemicals

 

[We tried to confirm / obtain the detailed activity but the same is not available from any sources.]

 

 

No of Employees :

Not Available

 

[We tried to confirm the number of employees but no one is ready to part any information from the company management.]

 

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.

 

ECGC Country Risk Classification List – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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 name & address

 

Company Name                        VENUS STAINLESS UK LIMITED

Company No:                            05275480

Company Status:                      Active - Accounts Filed

 

Registered /Trading  Address

5 HIGHFIELD ROAD
KIRKBURTON
HUDDERSFIELD
HD8 0RQ

Website Address                       -

Telephone Number                    01484341431

Fax Number                              --

TPS                                          No

FPS                                          No

 

 

Company summary

 

Incorporation Date                     02/11/2004

Type                                         Private Limited with Share Capital

Filing Date of Accounts             25/11/2014

Currency                                   GBP

Share Capital                            £100

SIC07                                       46120

SIC07 Description                     AGENTS INVOLVED IN THE SALE OF FUELS, ORES, METALS AND

INDUSTRIAL CHEMICALS

Principal Activity                       Engaged in provision of marketing consultants.

 

 

Key Financials

 

Year to Date                             Shareholder Funds

31/03/2014                                £1,362

31/03/2013                                £425

31/03/2012                                £4,925

 

 

Commentary

 

No exact match CCJs are recorded against the company.

Net Worth increased by 220.5% during the latest trading period.

A 2.1% growth in Total Assets occurred during the latest trading period.

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 53.1% during the latest trading period.

The company is exempt from audit.

No recent changes in directorship are recorded.

The company is not 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 10 years ago.

 

Current Directors

 

Name

William Verner Pakenham Rowlands

Date of Birth

17/07/1947

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

02/11/2004

Address

5 Highfield Road, Kirkburton, West Yorkshire, HD8 0RQ

 

 

Current Company Secretary

 

Name

Ann Rowlands

Date of Birth

-

Officers Title

Ms

Nationality

British

Present Appointments

1

Function

Company Secretary

Appointment Date

02/11/2004

Address

5 Highfield Road, Kirkburton, West Yorkshire, HD8 0RQ

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

WILLIAM VERNER PAKENHAM ROWLANDS

GBP

50

ORDINARY

1

50

ANN ROWLANDS

GBP

50

ORDINARY

1

50

 

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

-

-

-

-

-

-

-

-

£646,250

Export

-

-

-

-

-

-

-

-

£84,013

Cost of Sales

-

-

-

-

-

-

-

-100%

£613,361

Gross Profit

-

-

-

-

-

-

-

-

£32,889

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

£5,760

Operating Profit

-

-

-

-

-

-

-

-

£12,096

Depreciation

£70

-24.7%

£93

-25%

£124

-25.3%

£166

-24.9%

£221

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

£12,367

Taxation

-

-

-

-

-

-

-

-

-£2,628

Profit After Tax

-

-

-

-

-

-

-

-

£9,739

Dividends Payable

-

-

-

-

-

-

-

-

£12,000

Retained Profit

-

-

-

-

-

-

-

-

-£2,261

 

Balance Sheet

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Tangible Assets

£210

-25%

£280

-24.9%

£373

-24.9%

£497

-25%

£663

Total Fixed Assets

£210

-25%

£280

-24.9%

£373

-24.9%

£497

-25%

£663

Stock

£101,327

5.1%

£96,417

-16.6%

£115,544

0.1%

£115,471

49.9%

£77,028

Trade Debtors

£221,276

39.5%

£158,594

-41.2%

£269,653

95.8%

£137,703

22.4%

£112,481

Cash

£52,724

-53.1%

£112,525

212.4%

£36,019

-61.1%

£92,559

293.2%

£23,537

Other Debtors

0

-

0

-

0

-100%

£29,552

999.9%

£2,449

Total Current Assets

£375,327

2.1%

£367,536

-12.7%

£421,216

12.2%

£375,285

74.2%

£215,495

Trade Creditors

£374,175

1.8%

£367,391

-11.8%

£416,664

11.3%

£374,512

73.9%

£215,416

Total Current Liabilities

£374,175

1.8%

£367,391

-11.8%

£416,664

11.3%

£374,512

73.9%

£215,416

 

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

£1,262

288.3%

£325

-93.3%

£4,825

312.4%

£1,170

82.2%

£642

Shareholder Funds

£1,362

220.5%

£425

-91.4%

£4,925

287.8%

£1,270

71.2%

£742

 

Other Financial Items

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Net Worth

£1,362

220.5%

£425

-91.4%

£4,925

287.8%

£1,270

71.2%

£742

Working Capital

£1,152

694.5%

£145

-96.8%

£4,552

488.9%

£773

878.5%

£79

Total Assets

£375,537

2.1%

£367,816

-12.8%

£421,589

12.2%

£375,782

73.8%

£216,158

Total Liabilities

£374,175

1.8%

£367,391

-11.8%

£416,664

11.3%

£374,512

73.9%

£215,416

Net Assets

£1,362

220.5%

£425

-91.4%

£4,925

287.8%

£1,270

71.2%

£742

 

 

Miscellaneous

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Capital Employed

£1,362

220.5%

£425

-91.4%

£4,925

287.8%

£1,270

71.2%

£742

 

Auditors

           

Auditor Comments

The company is exempt from audit

 

 

Ratios

 

Date Of Accounts

31/03/14

31/03/13

31/03/12

31/03/11

31/03/10

Pre-tax profit margin %

-

-

-

-

1.91

Current ratio

1

1

1.01

1

1

Sales/Net Working Capital

-

-

-

-

8180.38

Gearing %

0

0

0

0

0

Equity in %

0.40

0.10

1.20

0.30

0.30

Creditor Days

-

-

-

-

121.33

Debtor Days

-

-

-

-

63.35

Liquidity/Acid Test

0.73

0.73

0.73

0.69

0.64

Return On Capital Employed %

-

-

-

-

1666.71

Return On Total Assets Employed %

-

-

-

-

5.72

Current Debt Ratio

274.72

864.44

84.60

294.89

290.31

Total Debt Ratio

274.72

864.44

84.60

294.89

290.31

Stock Turnover Ratio %

-

-

-

-

11.91

Return on Net Assets Employed %

-

-

-

-

1666.71

Status History

 

No Status History found

 

 

Event History

 

Date

Description

03/12/2014

New Accounts Filed

08/11/2014

Annual Returns

08/11/2013

Annual Returns

30/07/2013

New Accounts Filed

30/07/2013

New Accounts Filed

15/11/2012

Annual Returns

10/08/2012

New Accounts Filed

12/11/2011

Annual Returns

04/10/2011

New Accounts Filed

04/10/2011

New Accounts Filed

13/11/2010

Annual Returns

09/09/2010

New Accounts Filed

05/01/2010

Annual Returns

25/11/2009

Annual Returns

15/09/2009

New Accounts Filed

 

Group structure Full

 

No group structure

 

 

Previous Director

/Company Secretaries

 

Name

Current Directorships

Previous Directorships

COMPANY DIRECTORS LIMITED

9352

196298

TEMPLE SECRETARIES LIMITED

11625

198016

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.76

UK Pound

1

Rs.93.13

Euro

1

Rs.70.03

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

MNL

 

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.