|
Report No. : |
309379 |
|
Report Date : |
21.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAHARAJA TEXTILES LIMITED |
|
|
|
|
Registered Office : |
Maharaja Buildings, Cemetery Road,
Bradford, West Yorkshire,
Bd8
9ry |
|
|
|
|
Country : |
United
Kingdom |
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
16.07.1993 |
|
|
|
|
Com. Reg. No.: |
02837030 |
|
|
|
|
Legal Form : |
Private Limited With Share Capital |
|
|
|
|
LINE OF BUSINESS : |
·
THE IMPORTING AND WHOLESALE OF
TEXTILE GOODS. ·
WHOLESALE OF TEXTILES. |
|
|
|
|
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 |
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 |
|
MAHARAJA TEXTILES LIMITED |
Telephone |
+44
012 7449 3441 |
|
Maharaja
Buildings |
Fax |
- |
|
Cemetery
Road |
Website |
|
|
Bradford |
|
|
|
West
Yorkshire |
|
|
|
Bd8
9ry |
|
|
|
United
Kingdom |
|
|
|
Company Number: |
02837030 |
Status: |
Active - Accounts
Filed |
|
Foundation: |
16/07/1993 |
|
|
There has been a reduction in shareholders funds compared with the previous balance sheet. This company has been treated as a Small company in respect of the rating/limit generated. This company has only made late payments on a low percentage of invoices. The latest Balance Sheet indicates a positive net working capital position. This company trades in an industry with a moderate level of corporate failures.
Legal form
Private limited with Share Capital
Foundation
16/07/1993
Company No.
02837030
|
Name |
Currency |
Number of shares |
Share type |
Nominal value |
|
MR
JASVINDER PAL SINGH |
GBP |
4,373 |
ORDINARY
B |
1 |
|
MR
MANMOHAN SINGH |
GBP |
25,000 |
ORDINARY
A |
1 |
|
Total Share Capital |
GBP
29,373 |
|||
|
Directors |
||||
|
Name |
Address: |
Date of Birth |
Nationality |
Appointment Date |
|
Mr. Manmohan Singh |
Tudor Lodge, Ling
Lane, Scarcroft, Leeds LS14 3HX |
10/09/1959 |
British |
16/07/1993 |
|
Mr. Ravinder Singh |
Tudor Lodge Ling
Lane, Scarcroft, Leeds, West Yorkshire LS14 3HX |
17/06/1983 |
British |
05/10/2009 |
|
Mrs. Parminder Kaur |
Tudor Lodge Ling
Lane, Scarcroft, Leeds LS14 3HX |
15/06/1959 |
British |
05/10/2009 |
Company Secretary
|
||
|
Name |
Address: |
Appointment Date |
|
Mr. Manmohan Singh |
Tudor Lodge, Ling Lane,
Scarcroft, Leeds LS14 3HX |
16/07/1993 |
Maharaja Buildings, 36 Cemetery Road, Bradford, West Yorkshire BD8 9RY
|
Main Activity |
|
|
Principal Activity |
The importing and
wholesale of textile goods. |
|
SIC03 |
Wholesale of
textiles |
|
SIC07 |
Wholesale of
textiles |
Turnover and Employees
|
Date of Accounts |
Turnover |
Employees |
|
30/09/2011 |
Not Stated |
Not Stated |
|
30/09/2012 |
Not Stated |
Not Stated |
|
30/09/2013 |
Not Stated |
Not Stated |
|
Bank Name |
Bank Branch Sort Code |
|
NATIONAL WESTMINSTER BANK
PLC |
56-00-36 |
Auditor Name
AUKER RHODES ACCOUNTING LIMITED
|
Company history |
|
|
Date |
Action |
|
08/10/2010 |
New Accounts Filed |
|
08/10/2010 |
New Accounts Filed |
|
28/03/2011 |
Mr J.P. Singh has
left the board |
|
17/06/2011 |
New Accounts Filed |
|
17/06/2011 |
New Accounts Filed |
|
01/08/2011 |
Annual Returns |
|
28/05/2012 |
New Accounts Filed |
|
29/08/2012 |
Annual Returns |
|
11/07/2013 |
New Accounts Filed |
|
26/07/2013 |
Annual Returns |
|
02/07/2014 |
New Accounts Filed |
|
01/08/2014 |
Annual Returns |
|
Mortgages |
|
|
Charge created |
11/08/1993 |
|
Charge registered |
18/08/1993 |
|
Status |
SATISFIED |
|
Entitled person |
NATIONAL
WESTMINSTER BANK PLC |
|
Mortgage detail |
A SPECIFIC
EQUITABLE CHARGE OVER ALL FREEHOLD AND LEASEHOLD PROPERTIES AND/OR THE
PROCEEDS OF SALE THEREOF FIXED AND FLOATING CHARGES OVER UNDERTAKING AND ALL PROPERTY
AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS AND THE BENEFITS
OF ANY LICENCES |
|
Charge created |
05/05/1999 |
|
Charge registered |
12/05/1999 |
|
Status |
SATISFIED |
|
Entitled person |
NATIONAL
WESTMINSTER BANK PLC |
|
Mortgage detail |
F/H PROPERTY K/A
LAND AND BUILDINGS ON WEST SIDE OF CEMETERY ROAD BRADFORD K/A FAIRFIELD MILL
WEST YORKSHIRE T/N WYK311232AND THE PROCEEDS OF SALE THEREOF FLOATING CHARGE
OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT
AND AN ASSIGNMENT OF THE GOODWILL AND CONNECTION OF ANY BUSINESS TOGETHER
WITH THE FULL BENEFIT OF ALL LICENCES |
|
Charge created |
12/07/2004 |
|
Charge registered |
13/07/2004 |
|
Status |
SATISFIED |
|
Entitled person |
NATIONAL WESTMINSTER
BANK PLC |
|
Mortgage detail |
24/32 (EVEN)
WESTGATE AND 72/78 9EVEN) GODWIN STREET BRADFORDBY WAY OF FIXED CHARGE THE
BENEFIT OF ALL COVENANTS AND RIGHTS CONCERNING THE PROPERTY AND PLANT
MACHINERY FIXTURES FITTINGS FURNITURE EQUIPMENT IMPLEMENTS ANDUTENSILS THE
GOODWILL OF ANY BUSINESS CARRIED ON AT THE PROPERTY AND THE PROCEEDS OF ANY
INSURANCE AFFECTING THE PROPERTY OR ASSETS |
|
Charge created |
10/08/2005 |
|
Charge registered |
13/08/2005 |
|
Status |
SATISFIED |
|
Entitled person |
NATIONAL
WESTMINSTER BANK PLC |
|
Mortgage detail |
LAND AND BUILDINGS
TO WEST SIDE OF ANNESLEY ROAD, HUCKNALL, NOT- TINGHAMSHIREBY WAY
OF FIXED CHARGE THE BENEFIT OF ALL COVENANTS AND RIGHTS
CONCERNING THE PROPERTY AND PLANT MACHINERY FIXTURES FITTINGS FURNITURE
EQUIPMENT IMPLEMENTS ANDUTENSILS THE GOODWILL OF ANY BUSINESS CARRIED ON AT
THE PROPERTY AND THE PROCEEDS OF ANY INSURANCE AFFECTING THE PROPERTY OR
ASSETS |
|
Charge created |
13/10/2009 |
|
Charge registered |
15/10/2009 |
|
Status |
OUTSTANDING |
|
Entitled person |
HSBC BANK PLC |
|
Secured amount |
ALL MONIES DUE OR
TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
|
Mortgage details |
FIXED AND FLOATING CHARGE
OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE,
INCLUDING GOODWILL, BOOKDEBTS, UN-CALLED CAPITAL, BUILDINGS, FIXTURES, FIXED
PLANT AND MACHINERY |
|
Charge created |
20/10/2009 |
|
Charge registered |
21/10/2009 |
|
Status |
OUTSTANDING |
|
Entitled person |
HSBC BANK PLC |
|
Secured amount |
ALL MONIES DUE OR
TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Mortgage detail |
MAHARAJA CEMETARY ROAD
BRADFORD WITH THE BENEFIT OF ALL RIGHTS, LICENCES, GUARANTEES, RENT
DEPOSITS, CONTRACTS, DEEDS UNDERTAKINGS AND WARRANTIES RELATING TO
THEPROPERTY. ANY SHARES OR MEMBERSHIP RIGHTS IN ANY MANAGEMENT COMPANY FOR
THE PROPERTY. ANY GOODWILL OF ANY BUSINESS FROMTIME TO TIME CARRIED ON AT THE
PROPERTY. ANY RENTAL AND OTHER MONEY PAYABLE AND ANY LEASE LICENCE OR OTHER
INTEREST CREATED IN RESPECT OF THE PROPERTY AND ALL OTHER PAYMENTS WHATEVER
IN RESPECT OF THE PROPERTY |
|
Charge created |
20/10/2009 |
|
Charge registered |
21/10/2009 |
|
Status |
OUTSTANDING |
|
Entitled person |
HSBC BANK PLC |
|
Secured amount |
ALL MONIES DUE OR
TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Mortgage detail |
161-163 ANNESLEY ROAD
HUCKNALL NOTTINGHAM WITH THE BENEFIT OF ALL RIGHTS, LICENCES, GUARANTEES,
RENT DEPOSITS, CONTRACTS, DEEDS UNDERTAKINGS AND WARRANTIES RELATING TO THE
PROPERTY. ANY SHARES OR MEMBERSHIP RIGHTS IN ANY MANAGEMENT COMPANY FOR THE
PROPERTY. ANY GOODWILL OF ANY BUSINESS FROM TIME TO TIME CARRIED ON AT THE
PROPERTY ANY RENTAL AND OTHER MONEY PAYABLE AND ANY LEASE LICENCE OR OTHER
INTEREST CREATED IN RESPECT OF THE PROPERTY AND ALL OTHER PAYMENTS WHATEVER
IN RESPECTOFTHE PROPERTY |
There are no County
Court Judgments listed against this company
PROFIT & LOSS
|
|
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
|
52 |
52 |
52 |
52 |
|
|
GBP |
GBP |
GBP |
GBP |
|
|
Group: No |
Group: No |
Group: No |
Group: No |
|
Turnover |
0 |
0 |
0 |
0 |
|
|
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 |
|
Export |
- |
- |
- |
- |
|
Cost
of Sales |
- |
- |
- |
- |
|
Gross
Profit |
- |
- |
- |
- |
|
Wages
And Salaries |
0 |
0 |
0 |
0 |
|
Directors
Emoluments |
- |
- |
- |
- |
|
Operating
Profit |
- |
- |
- |
- |
|
Depreciation |
18,057 |
18,636 |
17,292 |
28,820 |
|
Audit
Fees |
0 |
- |
- |
- |
|
Interests
Payments |
- |
- |
- |
- |
|
Pre
Tax Profit |
0 |
0 |
0 |
0 |
|
Taxation |
- |
- |
- |
- |
|
Profit
After Tax |
- |
- |
- |
- |
|
Dividends
Payable |
- |
- |
- |
- |
|
Retained
Profit |
- |
- |
- |
- |
BALANCE SHEET
|
|
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 |
|
Tangible
Assets |
2,085,857 |
2,104,157 |
2,102,542 |
2,122,115 |
|
Intangible
Assets |
0 |
0 |
0 |
0 |
|
Total
Fixed Assets |
2,085,857 |
2,104,157 |
2,102,542 |
2,122,115 |
|
Stock |
1,713,973 |
2,341,909 |
2,783,943 |
2,754,331 |
|
Trade
Debtors |
2,159,121 |
3,012,119 |
3,070,365 |
2,699,440 |
|
Cash |
160,023 |
966,996 |
131,358 |
90,814 |
|
Other
Debtors |
0 |
0 |
0 |
0 |
|
Miscellaneous
Current Assets |
0 |
0 |
0 |
0 |
|
Total
Current Assets |
4,033,117 |
6,321,024 |
5,985,666 |
5,544,585 |
|
Trade
Creditors |
3,119,886 |
5,190,960 |
4,634,840 |
3,821,897 |
|
Bank
Loans and Overdraft |
0 |
0 |
0 |
0 |
|
Other
Short Term Finance |
0 |
0 |
0 |
0 |
|
Miscellaneous
Current Liabilities |
0 |
0 |
0 |
0 |
|
Total
Current Liabilities |
3,119,886 |
5,190,960 |
4,634,840 |
3,821,897 |
|
Bank
Loans and Overdrafts LTL |
703,035 |
832,776 |
953,218 |
1,046,814 |
|
Other
Long Term Finance |
0 |
0 |
0 |
0 |
|
Total
Long Term Liabilities |
703,035 |
832,776 |
953,218 |
1,046,814 |
CAPITAL &
RESERVES
|
|
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 |
|
Called Up Share
Capital |
30,437 |
34,688 |
39,364 |
50,000 |
|
P and L Account
Reserve |
1,174,769 |
1,275,910 |
1,369,939 |
1,657,142 |
|
Revaluation Reserve |
1,090,847 |
1,090,847 |
1,090,847 |
1,090,847 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
2,296,053 |
2,401,445 |
2,500,150 |
2,797,989 |
OTHER FINANCIAL ITEMS
|
|
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 |
|
Net Worth |
2,296,053 |
2,401,445 |
2,500,150 |
2,797,989 |
|
Working Capital |
913,231 |
1,130,064 |
1,350,826 |
1,722,688 |
|
Total Assets |
6,118,974 |
8,425,181 |
8,088,208 |
7,666,700 |
|
Total Liabilities |
3,822,921 |
6,023,736 |
5,588,058 |
4,868,711 |
|
Net Assets |
2,296,053 |
2,401,445 |
2,500,150 |
2,797,989 |
CASH FLOW
|
|
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
|
52 |
52 |
52 |
52 |
|
|
GBP |
GBP |
GBP |
GBP |
|
|
Group: No |
Group: No |
Group: No |
Group: No |
|
Net
Cash Flow from Operations |
0 |
0 |
0 |
0 |
|
Net
Cash Flow before Financing |
0 |
0 |
0 |
0 |
|
Net
Cash Flow from Financing |
0 |
0 |
0 |
0 |
|
Increase
in Cash |
-806,973 |
835,638 |
40,544 |
-252,058 |
MISCELLANEOUS
|
|
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
|
52 |
52 |
52 |
52 |
|
|
GBP |
GBP |
GBP |
GBP |
|
|
Group: No |
Group: No |
Group: No |
Group: No |
|
Capital
Employed |
2,999,088 |
3,234,221 |
3,453,368 |
3,844,803 |
FINANCIAL RATIO
|
Name |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
Pre
Tax Profit Margin |
0.0% |
0.0% |
0.0% |
0.0% |
|
Current
Ration |
1.29 |
1.22 |
1.29 |
1.45 |
|
Sales
or Net Working Capital |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gearing |
30.62 % |
34.68 % |
38.13% |
37.41 % |
|
Equity |
37.52 % |
28.50 % |
30.91 % |
36.50 % |
|
Creditor
Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Debtor
Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liquidity
or Acid test |
0.74 |
0.76 |
0.69 |
0.73 |
|
Return
on Capital Employed |
0.0% |
0.0% |
0.0% |
0.0% |
|
Return
on Total Assets Employed |
0.0% |
0.0% |
0.0% |
0.0% |
|
Current
Debt Ratio |
1.35 % |
2.16% |
1.85 % |
1.36% |
|
Total
Debt Ratio |
1.66 % |
2.50 % |
2.23 % |
1.74% |
|
Stock
Turnover Ratio |
0.0% |
0.0% |
0.0% |
0.0% |
|
Return
on Net Assets Employed |
0.0% |
0.0% |
0.0% |
0.0% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
|
|
1 |
Rs.96.00 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.