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Report No. : |
308031 |
|
Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
1 Fishwick
Park, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
10.09.2008 |
|
|
|
|
Com. Reg. No.: |
06693901 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Wholesale of Clothing and Footwear |
|
|
|
|
No of Employees : |
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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
|
RHODI SUPPLIERS LIMITED |
Telephone |
01772 562 288 |
|
|
1 FISHWICK
PARK |
Fax |
- |
|
|
MERCER STREET |
Website |
||
|
PRESTON |
|||
|
PR1 4LZ |
|||
|
United Kingdom |
|||
|
Company Number: Foundation: |
06693901 10/09/2008 |
Status: VAT No: |
Active - Accounts Filed N/A |
Comments
This company
trades in an industry with a lower level of corporate failures.
This company has
made late payments on a high percentage of invoices.
This company has been treated as a Medium company in respect of the rating/limit generated. This company’s ratio of total liabilities to total assets indicates the presence of moderate equity funding. This company’s return on total assets employed ratio indicates a relatively efficient use of assets. This company’s bank loans and overdrafts (less cash) account for a moderate percentage of short term liabilities.
Legal form
Private limited with Share
Capital
Foundation
10/09/2008
Company No.
06693901
Shareholders
|
Name |
Currency |
Number of shares |
Share type |
Nominal value |
|
RHODI GROUP LTD |
GBP |
1 |
ORDINARY |
1 |
|
Total Share Capital |
|
|
|
GBP 1 |
Management
|
Directors |
||||
|
Name |
Address: |
Date of birth |
Nationality |
Appointment date |
|
Mr Rizwan Ibraham Bux |
1 Fishwick Park, Mercer Street, Preston PR1 4LZ |
14/08/1979 |
British |
17/06/2014 |
|
Mr Firoz Ibrahim Bux |
1 Pinfold Close, Fulwood Road Fulwood, Preston PR2
6SG |
22/07/1968 |
British |
10/09/2008 |
|
Mr Ibrahim Vali Bux |
1 Fishwick Park, Mercer Street, Preston PR1 4LZ |
12/01/1942 |
British |
12/09/2013 |
Company Secretary
|
Name |
Address: |
Appointment date |
|
Mrs Hamida Ibrahim Bux |
1
Fishwick Park, Mercer Street, Preston PR1 4LZ |
12/09/2013 |
Other Known Addresses
1 Fishwick Park, Mercer
Street, Preston, Lancashire PR1 4LZ
|
Company No. |
Name |
Status |
Country |
|
Ultimate parent |
|||
|
03037806 |
RHODI GROUP LIMITED |
Active |
United Kingdom |
|
Affiliated companies |
|||
|
03083840 |
RHODI INC. IMPORTS LIMITED |
Active |
United Kingdom |
|
03236601 |
RHODI MANUFACTURING SERVICES LIMITED |
Pending |
United Kingdom |
|
Immediate parent |
|||
|
03037806 |
RHODI GROUP LIMITED |
Active |
United Kingdom |
Main
activity
Principal
Activity The importation and
wholesale of clothing.
SIC03 Wholesale of clothing
and footwear
SIC07 Wholesale of clothing
and footwear
Turnover and
Employees
|
Date of Accounts |
Turnover |
Employees |
|
30/09/2011 |
GBP 22,504,806 |
Not Stated |
|
30/09/2012 |
GBP 20,326,377 |
Not Stated |
|
30/09/2013 |
GBP 16,398,564 |
Not Stated |
Auditor
Auditor
name
HAYES
& CO
Company history
Date Action
22/06/2010 New Accounts Filed
26/10/2010 Annual Returns
11/07/2011 New Accounts Filed
16/09/2011 Annual Returns
11/07/2012 New Accounts Filed
11/07/2012 New Accounts Filed
07/11/2012 Annual Returns
12/07/2013 New Accounts Filed
12/07/2013 New Accounts Filed
16/09/2013 Mr F.I. Bux has resigned as company
secretary
16/09/2013 Mr F.I. Bux has left the board
16/09/2013 Mr A.I. Bux has left the board
16/09/2013 New Company Secretary Mrs H.I. Bux
appointed
16/09/2013 New Board Member Mr I.V. Bux appointed
25/09/2013 Annual Returns
01/07/2014 New Board Member Mr R.I. Bux appointed
08/07/2014 New Accounts Filed
19/09/2014 Annual Returns
Mortgages
Charge created 23/03/2010
Charge registered 26/03/2010
Status SATISFIED
Entitled person NATIONAL WESTMINSTER BANK PLC
Mortgage detail FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY
AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT AND MACHINERY
Charge created 02/01/2013
Charge registered 08/01/2013
Status OUTSTANDING
Entitled person HABIB ALLIED INTERNATIONAL BANK PLC
Secured amount ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE
ON ANY ACCOUNT WHATSOEVER
Mortgage detail FIXED AND FLOATING CHARGE OVER THE WHOLE OF THE COMPANY §UNDERTAKING INCLUDINGGOODWILL, BOOK DEBTS, UNCALLED CAPITAL, PLANT AND MACHINERY, CASH AT BANK, F/H AND L/H PROPERTY.
County Court
Judgments (CCJs)
There are no County Court Judgments listed against this company
Profit & Loss
|
|
52 GBP Group: No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Turnover |
16,398,564 |
20,326,377 |
22,504,806 |
15,309,279 |
|
Export |
- |
- |
- |
- |
|
Cost of Sales |
14,716,903 |
18,586,108 |
19,808,657 |
- |
|
Gross Profit |
1,681,661 |
1,740,269 |
2,696,149 |
- |
|
Wages And Salaries |
0 |
0 |
0 |
0 |
|
Directors Emoluments |
0 |
0 |
0 |
0 |
|
Operating Profit |
41,529 |
36,458 |
101,734 |
22,379 |
|
Depreciation |
7,272 |
6,855 |
8,822 |
9,775 |
|
Audit Fees |
0 |
0 |
0 |
0 |
|
Interests Payments |
0 |
0 |
108 |
125 |
|
Pre Tax Profit |
41,529 |
36,458 |
101,626 |
22,254 |
|
Taxation |
-9,053 |
-31,068 |
-28,524 |
-4,833 |
|
Profit After Tax |
32,476 |
5,390 |
73,102 |
17,421 |
|
Dividends Payable |
0 |
0 |
0 |
0 |
|
Retained Profit |
32,476 |
5,390 |
73,102 |
17,421 |
Balance Sheet
|
|
52 GBP Group: No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Tangible Assets |
33,895 |
25,557 |
28,130 |
28,842 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
33,895 |
25,557 |
28,130 |
28,842 |
|
Stock |
491,895 |
803,054 |
912,257 |
103,520 |
|
Trade Debtors |
0 |
0 |
2,160 |
0 |
|
Cash |
235,132 |
181,245 |
0 |
0 |
|
Other Debtors |
8,466,004 |
11,298,987 |
12,833,173 |
5,917,122 |
|
Miscellaneous
Current Assets |
0 |
0 |
0 |
0 |
|
Total Current Assets |
9,193,031 |
12,283,286 |
13,747,590 |
6,020,642 |
|
Trade Creditors |
2,517,522 |
4,940,012 |
6,009,755 |
4,207,713 |
|
Bank Loans and Overdraft |
566,287 |
0 |
1,112,400 |
469,392 |
|
Other Short
Term Finance |
0 |
756,965 |
3,073,879 |
327,468 |
|
Miscellaneous
Current Liabilities |
5,980,497 |
6,482,784 |
3,455,461 |
995,233 |
|
Total Current Liabilities |
9,064,306 |
12,179,761 |
13,651,495 |
5,999,806 |
|
|
30/09/2013 52 GBP Group: No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Bank Loans and Overdrafts LTL |
571,784 |
4,435 |
1,117,368 |
472,915 |
|
Other Long Term Finance |
0 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
5,497 |
4,435 |
4,968 |
3,523 |
Capital & Reserves
|
|
52 GBP Group: No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Called Up Share
Capital |
1 |
1 |
1 |
1 |
|
P and L Account Reserve |
157,122 |
124,646 |
119,256 |
46,154 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
157,123 |
124,647 |
119,257 |
46,155 |
Other Financial Items
|
|
52 GBP Group: No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Net Worth |
157,123 |
124,647 |
119,257 |
46,155 |
|
Working Capital |
128,725 |
103,525 |
96,095 |
20,836 |
|
Total Assets |
9,226,926 |
12,308,843 |
13,775,720 |
6,049,484 |
|
Total Liabilities |
9,069,803 |
12,184,196 |
13,656,463 |
6,003,329 |
|
Net Assets |
157,123 |
124,647 |
119,257 |
46,155 |
Cash Flow
|
|
52 GBP Group: No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Net Cash Flow from
Operations |
-3,892,545 |
2,020,124 |
3,512,516 |
3,312,140 |
|
|
52 GBP Group: No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Net Cash Flow before Financing |
-3,935,471 |
2,015,841 |
3,502,988 |
3,281,768 |
|
Net Cash Flow from
Financing |
3,423,071 |
-722,196 |
-4,145,996 |
-3,349,447 |
|
Increase in Cash |
53,887 |
181,245 |
0 |
0 |
Miscellaneous
|
|
52 GBP Group: No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Capital Employed |
162,620 |
129,082 |
124,225 |
49,678 |
Financial Ratios
|
Name
|
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
Pre Tax Profit Margin |
0.25 % |
0.18 % |
0.45 % |
0.15 % |
|
Current Ration |
1.01 |
1.01 |
1.01 |
1.00 |
|
Sales or Net Working
Capital |
127.39 |
196.34 |
234.19 |
734.75 |
|
Gearing |
363.91 % |
3.56 % |
936.94 % |
1024.62 % |
|
Equity |
1.70 % |
1.01 % |
0.87 % |
0.76 % |
|
Creditor Days |
55.88 |
88.46 |
97.20 |
100.04 |
|
Debtor Days |
0.00 |
0.00 |
0.03 |
0.00 |
|
Liquidity or Acid test |
0.95 |
0.94 |
0.94 |
0.98 |
|
Return on Capital
Employed |
25.53 % |
28.24 % |
81.80 % |
44.79 % |
|
Return on Total Assets Employed |
0.45 % |
0.29 % |
0.73 % |
0.36 % |
|
Current Debt Ratio |
57.68 % |
97.71 % |
114.47 % |
129.99 % |
|
Total Debt Ratio |
57.72 % |
97.74 % |
114.51 % |
130.06 % |
|
Stock Turnover Ratio |
2.99 % |
3.95 % |
4.05 % |
0.67 % |
|
Return on Net
Assets Employed |
26.43 % |
29.24 % |
85.21 % |
48.21 % |
Achieving high levels of turnover and profits have been made year on
year. 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. Group
Turnover for 2013/2013 amounted to GBP 22,290,570
Activity: Clothing
Manufacture and Wholesalers
Trading Address: 1
Fishwick Park Mercer Street Preston Lancashire PR1 4LZ
Branches: None
Employees: 10-20
Bank: National
Westminster Bank PLC
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.20 |
|
|
1 |
Rs. 95.99 |
|
Euro |
1 |
Rs. 71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.