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Report No. : |
308336 |
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Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
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Name : |
ANC SCAFFOLDING
PRODUCTS LTD |
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Formerly Known as : |
A & C SCAFFOLDING PRODUCTS LTD |
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Registered Office : |
2B Manor Road, Chigwell, Essex, IG7 5PD |
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Country : |
United Kingdom |
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Date of Incorporation : |
22.04.2014 |
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Com. Reg. No.: |
09003560 |
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Legal Form : |
Private Limited With Share Capital |
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Line of Business : |
Engaged in business of
Scaffolding Products |
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No of Employees : |
Not Available [NOTE: We tried to confirm
the number of employees but no one is ready to part any information from the company
management.] |
RATING & COMMENTS
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MIRAs Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New business |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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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ANC SCAFFOLDING PRODUCTS LTD |
Telephone |
02035830707 |
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2B MANOR ROAD |
Fax |
- |
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CHIGWELL |
Website |
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ESSEX |
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IG7 5PD |
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United Kingdom |
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Company Number:
Foundation: |
09003560 22/04/2014 |
Status: VAT No: |
Active - Newly Incorporated N/A |
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This company does not have any registered mortgage charges.
This company is based in a geographical area with a higher level of corporate failures. There have been one or more director resignations in the last 6 months.
This company has been treated as a New company in respect of the rating/limit generated. This company has not yet filed financial statements and is aged 12 months or less.
Legal form
Private Limited with Share Capital
Foundation
22/04/2014
Company No.
09003560
Previous Names
Date of Change Previous Name
23/04/2014 A & C SCAFFOLDING PRODUCTS LTD
Directors
Name Address: Date of birth Nationality Appointment date
Mr Sanjiv Gandotra 2b Manor Road, Chigwell, Essex IG7 5PD 14/03/1962 Indian 31/07/2014
Mr Adhiraj Gandotra 2b Manor Road, Chigwell IG7 5PD 12/03/1989 Indian 22/04/2014
No Secretary appointed
2B Manor Road, Chigwell,
Essex IG7 5PD
Events
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24/04/2014 |
New Board Member Mr C. Rugg appointed |
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24/04/2014 |
New Board Member Mr A. Gandotra appointed |
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25/04/2014 |
Change of Name |
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04/08/2014 |
New Board Member Mr S. Gandotra appointed |
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10/11/2014 |
Mr C. Rugg has left the board |
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(CCJs)
There are no County Court Judgments listed
against this company
No financial statement
filed.
Remarks
This is a new concern and no trading details have yet been published.
The first financial statement is due to be filed by 22.01.2016.We have so far
been unable to contact this company and the telephone number just keep ring
out. We have been unable to confirm the address given. Difficult to assess the
present situation and remains to be seen how it further develops.
Trading Address (Not Confirmed) The
Paddocks Five Oak Lane Chigwell IG7 4QP
Branches: None
Employees: Not
obtained
Bank: Not
obtained
Issued Share Capital: GBP
100 subscribed
Subscribers:-
·
Adhiraj Gandotra 2B Manor Road, Chigwell, Essex,
IG7 5PD 55 shares
·
Callum Rugg- 25 Purlieu Wat Theydon Bois, Epping,
CM16 7EH 45 shares
Activity:
Incorporated for carrying out business of Scaffolding Products in UK and
Europe.
Subject product
lines are as follows:-
Galvanised Tube
·
Scaffold
tube is readily available in pre-cut in lengths of 21 16 13 10 8 6
& 5 feet
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Outside
Diameter 48.3mm
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Wall
Thickness 4.0mm
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Product
testing and in compliance to BS 1139 / EN39
High Yield Tube
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High
Yield S355 Galvanised scaffold tube is 20% lighter than the standard
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Outside
Diameter 48.3mm
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Wall
Thickness 3.2mm
Testings & Compliance
·
Scaffold
Tube and its associated products offer compliance with the following:
·
GALVANISED
SCAFFOLD TUBE: Manufactured to EN39:2001* standard
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.25 |
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UK Pound |
1 |
Rs.95.57 |
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Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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
SCs 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.