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Report No. : |
307894 |
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Report Date : |
18.02.2015 |
IDENTIFICATION DETAILS
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Name : |
KAN LIMITED |
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Registered Office : |
25 Crowsport, Hamble, Southampton, So31 4hg |
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Country : |
United Kingdom |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
22.01.2004 |
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Com. Reg. No.: |
05022643 |
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Legal Form : |
Private Limited With Share Capital |
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Line of Business : |
·
Engaged in Retail & distribution of Promotional Merchandise · Subject is specialising in promotional material and Print Services which includes a wide range of items from Clothing, Carrier Bags, to Brochures and Menus |
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No of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 |
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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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KAN LIMITED |
Telephone |
+44 02380456611 |
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25 CROWSPORT |
Fax |
+44 02380456756 |
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HAMBLE |
Website |
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SOUTHAMPTON |
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SO31 4HG |
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United Kingdom |
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Company Number:
05022643 Foundation: 22/01/2004 |
Status: VAT: |
Active - Accounts Filed GB 786905377 |
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There has been an increase in shareholders funds compared with the previous balance sheet. This company has made late payments on a medium percentage of invoices.
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. This company trades in an industry with a moderate level of corporate failures.
Private Limited With Share Capital
22/01/2004
05022643
|
Name |
Currency |
Number of
shares |
Share type |
Nominal value |
|
ARNDON LTD |
GBP |
68 |
ORDINARY A |
1 |
|
CATRINA CLARKE |
GBP |
30 |
ORDINARY B |
1 |
|
CHRIS HAMEL |
GBP |
30 |
ORDINARY B |
1 |
|
CHRIS HAMEL |
GBP |
34 |
ORDINARY A |
1 |
|
EMMA HUMPHREYS |
GBP |
5 |
ORDINARY B |
1 |
|
IAN ROBERT SOUTHWORTH |
GBP |
30 |
ORDINARY B |
1 |
|
MICHELLE WARD |
GBP |
5 |
ORDINARY B |
1 |
|
Total Share Capital GBP 202 |
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Directors |
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|
Name |
Address: |
Date of birth |
Nationality |
Appointment date |
|
Ms Catrina
Clarke |
25 Crowsport, Hamble, Southampton, Hants SO31 4HG |
18/06/1966 |
British |
22/01/2004 |
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Chris Hamel |
25 Spitfire Way, Hamble, Southampton, Hampshire SO31 4RT |
16/06/1962 |
British |
01/09/2005 |
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Name |
Address: |
Appointment date |
|
Ms Helen
Clarke |
38 Satchell Lane, Hamble, Southampton, Hampshire SO31 4HH |
22/01/2004 |
·
15 Compass Point, Ensign
Way, Hamble, Southampton, Hampshire SO31 4RA
· 25 Crowsport, Hamble, Southampton, Hampshire SO31 4HG
Company
No. Name Status Country
Ultimate Parent
06129115 ARNDON LIMITED Active United Kingdom
·
Engaged in Retail
& distribution of Promotional
Merchandise
· Subject is specialising in promotional material and Print Services which includes a wide range of items from Clothing, Carrier Bags, to Brochures and Menus
Events
Company history
|
Date |
Action |
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06/03/2010 |
Annual Returns |
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08/04/2010 |
New Accounts Filed |
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23/05/2011 |
Annual Returns |
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08/06/2011 |
New Accounts Filed |
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20/03/2012 |
Annual Returns |
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20/06/2012 |
New Accounts Filed |
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|
12/03/2013 |
Annual Returns |
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15/05/2013 |
New Accounts Filed |
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|
14/02/2014 |
Annual Returns |
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|
05/05/2014 |
New Accounts Filed |
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|
28/05/2014 |
Mr I.R.
Southworth has left
the board |
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|
05/02/2015 |
Annual Returns |
|
(CCJs)
There are no County Court Judgments listed
against this company
Profit & Loss
|
|
30/06/2013 52 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Depreciation |
802 |
1,421 |
2,040 |
2,572 |
Balance Sheet
|
|
30/06/2013 52 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Tangible Assets |
2,405 |
3,207 |
4,628 |
6,668 |
|
Total Fixed Assets |
2,405 |
3,207 |
4,628 |
6,668 |
|
Trade Debtors |
599,674 |
488,874 |
481,071 |
762,863 |
|
Cash |
53,968 |
115,673 |
127,062 |
95,080 |
|
Total Current
Assets |
653,642 |
604,547 |
608,133 |
857,943 |
|
Trade Creditors |
507,146 |
465,054 |
470,381 |
738,608 |
|
Total Current
Liabilities |
507,146 |
465,054 |
470,381 |
738,608 |
Capital & Reserves
|
|
30/06/2013 52 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Called Up Share Capital |
202 |
202 |
202 |
202 |
|
P and L Account Reserve |
148,699 |
142,498 |
142,178 |
125,722 |
|
Shareholders Funds |
148,901 |
142,700 |
142,380 |
125,924 |
Other Financial Items
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|
30/06/2013 52 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
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Net Worth |
148,901 |
142,700 |
142,380 |
125,924 |
|
Working Capital |
146,496 |
139,493 |
137,752 |
119,335 |
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Total Assets |
656,047 |
607,754 |
612,761 |
864,611 |
|
Total Liabilities |
507,146 |
465,054 |
470,381 |
738,687 |
|
Net Assets |
148,901 |
142,700 |
142,380 |
125,924 |
Cash Flow
|
|
30/06/2013 52 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Increase in Cash |
-61,705 |
-11,389 |
31,982 |
40,845 |
Miscellaneous
|
|
30/06/2013 52 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Capital Employed |
148,901 |
142,700 |
142,380 |
126,003 |
Financial Ratios
|
|
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
|
|
Pre Tax Profit Margin |
0.0% |
0.0% |
0.0% |
0.0% |
|
|
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Current Ration |
1.29 |
1.30 |
1.29 |
1.16 |
|
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Sales or Net Working Capital |
0.00 |
0.00 |
0.00 |
0.00 |
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Gearing |
0.00 % |
0.00 % |
0.00 % |
0.06 % |
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Equity |
22.70 % |
23.48 % |
23.24 % |
14.56 % |
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Creditor Days |
0.00 |
0.00 |
0.00 |
0.00 |
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Debtor Days |
0.00 |
0.00 |
0.00 |
0.00 |
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Liquidity or Acid test |
1.28 |
1.29 |
1.29 |
1.16 |
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Return on Capital Employed |
0.0% |
0.0% |
0.0% |
0.0% |
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Return on
Total Assets Employed |
0.0% |
0.0% |
0.0% |
0.0% |
|
|
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Current Debt Ratio |
3.40 % |
3.25 % |
3.30 % |
5.86 % |
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Total Debt Ratio |
3.40 % |
3.25 % |
3.30 % |
5.86 % |
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Stock Turnover Ratio |
0.0% |
0.0% |
0.0% |
0.0% |
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Return on Net Assets
Employed |
0.0% |
0.0% |
0.0% |
0.0% |
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Remarks
Only abbreviated financial statement has been filed. In 2012/2013 Post Appropriation Profit amounted to GBP 6,201 (2011/2012
Profit GBP 320). The general financial position seems to be in order and good reserves have been built up. Remains to be seen how it further performed in 2013/2014.
Trading Address (confirmed): 15 Compass Point, Ensign Way, Hamble, Southampton, Hampshire SO31 4RA
Branches: None
Activities:
·
Engaged in Retail & distribution of Promotional Merchandise
· Subject is specialising in promotional material and Print Services which includes a wide range of items from Clothing, Carrier Bags, to Brochures and Menus
Employees: 20
Bank: Barclays Bank Plc
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
UK Pound |
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
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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 |
|
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.