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Report No. : |
302316 |
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Report Date : |
10.01.2015 |
IDENTIFICATION DETAILS
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Name : |
UNITECH INTERNATIONAL PRIVATE LIMITED |
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Branch Office Address: |
United Kingdom |
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Registered Address of Parent Company : |
Plot 9 Holiday Park, Musharafabad Raiwind Road, Lahore 53700,
Pakistan |
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Country : |
United Kingdom |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
13.11.2008 |
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Com. Reg. No.: |
FC028674 |
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Legal Form : |
Appears to be a U.K office of a company
registered in Pakistan |
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Line of Business : |
Accounts data converted from Indian Rupee,
Revenue = Sales/Supplies. |
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No. of Employee : |
Not Available |
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 : |
Branch Office of A Company Registered in Pakistan |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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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Telephone |
No
listings |
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Plot 9 Holiday Park |
Fax |
- |
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Musharafabad Raiwind Road |
Website |
- |
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Lahore 53700 |
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Pakistan |
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United Kingdom |
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Company Number: Foundation: |
FC028674 13/11/2008 |
Status: |
Financial Statements too old |
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Payment experience and credit opinion
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Legal form Appears to be a U.K office of a company registered in Pakistan |
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Foundation 13/11/2008 |
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Company No.
FC028674
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Directors |
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Name |
Address: |
Date
of birth |
Nationality |
Appointment date |
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Mr Mohammad Hasib Ilahi |
House No 56/j-Block Dha-Eme Sector, Multan Road, Lahore, Punjab
53700 |
06/01/1956 |
Pakistani |
21/11/2008 |
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Mr Tariq
Suhail Butt |
House No 221/j-Block Dha Eme Sector, Multan Road,
Lahore, Punjab
53700 |
05/11/1957 |
Pakistani |
21/11/2008 |
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Mr Syed Ali Shaiba Jaffri |
59 Manor
Way, Harrow, Middlesex HA2 6BZ |
15/07/1977 |
British |
05/06/2009 |
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Company Secretary |
||
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Name |
Address: |
Appointment date |
|
Mr Mohammad Hasib
Ilahi |
House No 56/j Block Dha Eme, Sector Multan Road, Lahore,
Punjab 53700 |
21/11/2008 |
Other Known Addresses
59 Manor Way, Harrow,
Middlesex HA2 6BZ
Plot 9 Holiday
Park, Musharafabad Raiwind
Road, Lahore 53700
Business Activities
Main Activity
Principal Activity Accounts data converted from Indian Rupee, Revenue =
Sales/Supplies.
Economic Data
|
Date of Accounts |
Turnover |
Employees |
|
30/06/2010 |
GBP 2,272,353 |
Not Stated |
|
30/06/2012 |
GBP5,050,836 |
Not Stated |
Supplementary Data
Auditor
MAKSOOD & CO
Events
Company History
Date Action
01/02/2011 New
Accounts Filed
30/07/2013 New
Accounts Filed
Country Court Judgments (CCJs)
There are no country court judgments listed
against this company
Profit & Loss
|
|
30/06/2012 52
GBP Group:
No |
30/06/2010 52
GBP Group:
No |
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Turnover |
5,050,836 |
2,272,353 |
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Export |
- |
- |
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Cost of Sales |
4,115,796.72 |
1,808,565.77 |
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Gross Profit |
935,039.54 |
463,787.25 |
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Wages And Salaries |
342,951 |
170,414 |
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30/06/2012 52
GBP Group:
No |
30/06/2010 52
GBP Group:
No |
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Directors Emoluments |
35,650.26 |
25,715.24 |
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Operating Profit |
- |
- |
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Depreciation |
13,560.43 |
20,564 |
|
Audit Fees |
- |
0 |
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Interest Payments |
0 |
0 |
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Pre Tax Profit |
229,653 |
71,432 |
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Taxation |
-80,378.69 |
-25,001.28 |
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Profit After Tax |
149,274.72 |
46,430.98 |
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Dividends Payable |
0 |
0 |
|
Retained Profit |
149,274.72 |
46,430.98 |
Balance Sheet
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|
30/06/2012 52
GBP Group:
No |
30/06/2010 52
GBP Group:
No |
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Tangible Assets |
105,530 |
151,660 |
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Intangible Assets |
0 |
0 |
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Total Fixed Assets |
105,530 |
151,660 |
|
Stock |
508,645 |
178,644 |
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Trade Debtors |
159,867 |
0 |
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Cash |
681,048 |
253,899 |
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Other Debtors |
0 |
0 |
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Miscellaneous Current Assets |
90,150 |
78,601 |
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Total Current Assets |
1,439,711 |
511,143 |
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30/06/2012 |
30/06/2010 |
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|
52 |
52 |
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GBP |
GBP |
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Group: No |
Group: No |
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Trade
Creditors |
625,379 |
0 |
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Bank Loans
and Overdraft |
0 |
0 |
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- |
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Other Short
Term Finance |
0 |
0 |
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- |
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Miscellaneous
Current Liabilities |
202,625 |
32,539 |
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- |
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Total Current Liabilities |
828,003 |
32,539 |
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- |
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Bank Loans
and Overdrafts LTL |
0 |
0 |
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- |
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Other Long
Term Finance |
0 |
0 |
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Total Long Term Liabilities |
0 |
0 |
Capital & Reserves
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|
30/06/2012 |
30/06/2010 |
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|
52 |
52 |
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GBP |
GBP |
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Group: No |
Group: No |
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Called Up Share Capital |
49,668 |
64,288 |
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P and L Account Reserve |
667,570 |
565,977 |
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Revaluation Reserve |
0 |
0 |
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Sundry Reserves |
0 |
0 |
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Shareholders
Funds |
717,238 |
630,265 |
Other Financial Items
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|
30/06/2012 |
30/06/2010 |
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|
52 |
52 |
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GBP |
GBP |
|
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Group: No |
Group: No |
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Net Worth |
717,238 |
630,265 |
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Working Capital |
611,707 |
478,605 |
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|
30/06/2012 |
30/06/2010 |
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|
52 |
52 |
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GBP |
GBP |
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Group: No |
Group: No |
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Total Assets |
1,545,241.26 |
662,803.79 |
|
Total Liabilities |
828,003 |
32,539 |
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Net Assets |
717,238 |
630,265 |
Cash Flow
|
|
30/06/2012 |
30/06/2010 |
|
|
52 |
52 |
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GBP |
GBP |
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Group: No |
Group: No |
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Net Cash Flow from Operations |
0 |
0 |
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Net Cash Flow before Financing |
0 |
0 |
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Net Cash Flow from Financing |
0 |
0 |
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Increase in Cash |
427,149 |
0 |
Miscellaneous
|
|
30/06/2012 |
30/06/2010 |
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|
52 |
52 |
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|
GBP |
GBP |
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Group: No |
Group: No |
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Capital Employed |
717,238 |
630,265 |
Financial Ratios
|
Name |
30/06/2012 |
30/06/2010 |
|
Pre Tax Profit Margin |
4.55 % |
3.14 % |
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Current Ration |
1.74 |
15.71 |
|
Sales or Net Working
Capital |
8.26 |
4.75 |
|
Gearing |
0.00 % |
0.00 % |
|
Equity |
46.42 % |
95.09 % |
|
Creditor Days |
45.06 |
0.00 |
|
Debtor Days |
11.52 |
0.00 |
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Liquidity or Acid test |
1.12 |
10.21 |
|
Return on Capital Employed |
32.01 % |
11.33 % |
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Return on Total Assets
Employed |
14.86 % |
10.77 % |
|
Current Debt Ratio |
1.15 % |
0.05 % |
|
Total Debt Ratio |
1.15 % |
0.05 % |
|
Stock Turnover Ratio |
10.07 % |
7.86 % |
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Return on Net Assets
Employed |
32.01 % |
11.33 % |
REMARKS
The company is registered in Pakistan. The address given in the U.K is a private residence situated in the County of Buckinghamshire
The financial statements filed at Companies House in London are old and cannot be access for financial purposes.
No further information is available
Address – (Not confirmed ) 1A Rose Drive, Chesham, Buckinghamshire
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.40 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared by
: |
TPT |
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 |
|
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 |
|
<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 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.