|
Report No. : |
303631 |
|
Report Date : |
19.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
AC GLOBAL ENTERPRISES LIMITED |
|
|
|
|
Registered Office : |
54 Sandwell Road, West Bromwich, West Midlands B70 8TF |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
04.03.2010 |
|
|
|
|
Com. Reg. No.: |
07178205 |
|
|
|
|
Legal Form : |
Private limited with
Share Capital |
|
|
|
|
Line of Business : |
· Retail Sale Via Mail Order Houses · Retail Sale Via Mail Order Houses or Via Internet |
|
|
|
|
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 |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
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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) |
|
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 |
|
|
Telephone |
0207 183 0092 |
|
54 SANDWELL ROAD |
Fax |
- |
|
WEST BROMWICH |
Website |
|
|
WEST MIDLANDS |
||
|
B70 8TF |
||
|
United Kingdom |
|
Company Number: Foundation: |
07178205 04/03/2010 |
Status: VAT No: |
Active - Accounts Filed |
Comments
There has been an
increase in shareholders funds compared with the previous balance sheet.
This company has made
late payments on a high percentage of invoices. The latest cash balances are
considered to be low in terms of the overall outstanding creditor obligations.
The high debt/equity ratio indicates that assets are funded primarily by
creditors rather than equity/reinvested profits.
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.
Legal form
Private limited with Share Capital
Foundation
04/03/2010
Company No.
07178205
Shareholders
|
Name |
Currency |
Number of shares |
Share type |
Nominal
value |
|
ASHISH CHRISTIAN KALLIOPI NTOLIA |
GBP |
100 |
ORDINARY |
1 |
|
Total Share Capital |
|
|
|
GBP 100 |
Management
|
Directors |
||
|
Name |
Address: Date of
Nationality birth |
Appointment date |
|
Ms Kalliopi Ntolia |
115 Kent Road, Wednesbury,
West 29/11/1977 British Midlands WS10 0SN |
04/03/2010 |
|
|
||
|
Company
Secretary |
||
|
Name |
Address: |
Appointment
date |
|
Mr Ashish Christian |
115 Kent Road, Wednesbury, West
Midlands WS10 0SN |
14/04/2010 |
Other Known Addresses
54 Sandwell Road, West Bromwich, West Midlands B70 8TF
Main activity
SIC03 Retail sale via mail order
houses
SIC07 Retail sale via mail order
houses or via Internet
Turnover and Employees
Date of Accounts Turnover Employees
31/03/2012 Not Stated Not Stated
31/03/2013 Not
Stated Not Stated
31/03/2014 Not
Stated Not Stated
EVENTS
Company History
|
Date |
Action |
|
23/03/2010 |
New Board Member
Mr A. Christian appointed |
|
23/03/2010 |
New Board
Member Ms K. Ntolia appointed |
|
30/03/2010 |
Change in
Reg.Office |
|
30/03/2010 |
Change of
Company Postcode |
|
23/04/2010 |
Mr A.
Christian has left the board |
|
23/04/2010 |
New Company
Secretary Mr A. Christian appointed |
|
09/03/2011 |
Annual
Returns |
|
09/11/2011 |
New
Accounts Filed |
|
09/03/2012 |
Annual
Returns |
|
13/10/2012 |
New
Accounts Filed |
|
13/03/2013 |
Annual
Returns |
|
28/09/2013 |
New
Accounts Filed |
|
13/03/2014 |
Annual
Returns |
|
17/09/2014 |
Change in
Reg.Office |
|
17/09/2014 |
Change of
Company Postcode |
|
23/09/2014 |
New
Accounts Filed |
|
23/09/2014 |
New
Accounts Filed |
Mortgages
Charge created 01/09/2014
Charge registered 08/09/2014
Status OUTSTANDING
Entitled person HSBC
BANK PLC;
Mortgage detail A
FIXED AND FLOATING CHARGE OVER ALL ASSETSCONTAINS FIXED
CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE
PROPERTY OR
UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.
County Court Judgments (CCJs)
There are no County Court Judgments listed against this company
Profit & Loss
|
|
52 GBP Group:
No |
31/03/2013 52 GBP Group:
No |
31/03/2012 52 GBP Group:
No |
31/03/2011 52 GBP Group:
No |
|
Turnover |
0 |
0 |
0 |
0 |
|
Export |
- |
- |
- |
- |
|
Cost of Sales |
- |
- |
- |
- |
|
Gross Profit |
- |
- |
- |
- |
|
Wages And Salaries |
0 |
0 |
0 |
0 |
|
Directors Emoluments |
- |
- |
- |
- |
|
Operating Profit |
- |
- |
- |
- |
|
Depreciation |
0 |
161 |
161 |
- |
|
Audit Fees |
0 |
0 |
0 |
- |
|
Interests Payments |
- |
- |
- |
- |
|
Pre Tax Profit |
0 |
0 |
0 |
0 |
|
Taxation |
- |
- |
- |
- |
|
Profit After
Tax |
- |
- |
- |
- |
|
Dividends Payable |
- |
- |
- |
- |
|
Retained Profit |
- |
- |
- |
- |
BALANCE SHEET
|
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
52 |
52 |
52 |
52 |
|
|
GBP |
GBP |
GBP |
GBP |
|
|
Group: No |
Group: No |
Group: No |
Group: No |
|
Tangible Assets |
0 |
161 |
322 |
0 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
0 |
161 |
322 |
0 |
|
Stock |
0 |
3,758 |
4,540 |
0 |
|
Trade Debtors |
50,401 |
4,945 |
4,680 |
0 |
|
Cash |
0 |
0 |
1,674 |
0 |
|
Other Debtors |
0 |
0 |
1,027 |
0 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total Current Assets |
50,401 |
8,703 |
11,921 |
0 |
|
Trade Creditors |
46,098 |
13,728 |
1,203 |
0 |
|
Bank Loans and Overdraft |
0 |
0 |
0 |
0 |
|
Other Short Term Finance |
0 |
0 |
0 |
0 |
|
Miscellaneous Current Liabilities |
0 |
0 |
10,957 |
0 |
|
Total Current Liabilities |
46,098 |
13,728 |
12,160 |
0 |
|
Bank Loans and Overdrafts LTL |
0 |
0 |
0 |
0 |
|
Other Long Term Finance |
0 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
0 |
0 |
0 |
0 |
CAPITAL & RESERVES
|
|
52 GBP Group:
No |
31/03/2013 52 GBP Group:
No |
31/03/2012 52 GBP Group:
No |
31/03/2011 52 GBP Group:
No |
|
Called Up Share Capital |
100 |
100 |
100 |
0 |
|
P and L Account Reserve |
4,203 |
-4,964 |
-17 |
0 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
4,303 |
-4,864 |
83 |
0 |
Other Financial Items
|
|
52 GBP Group:
No |
31/03/2013 52 GBP Group:
No |
31/03/2012 52 GBP Group:
No |
31/03/2011 52 GBP Group:
No |
|
Net Worth |
4,303 |
-4,864 |
83 |
0 |
|
Working Capital |
4,303 |
-5,025 |
-239 |
0 |
|
Total Assets |
50,401 |
8,864 |
12,243 |
0 |
|
Total Liabilities |
46,098 |
13,728 |
12,160 |
0 |
|
Net Assets |
4,303 |
-4,864 |
83 |
0 |
Cash Flow
|
|
52 GBP Group:
No |
31/03/2013 52 GBP Group:
No |
31/03/2012 52 GBP Group:
No |
31/03/2011 52 GBP 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 |
0 |
-1,674 |
1,674 |
0 |
Miscellaneous
|
|
52 GBP Group:
No |
31/03/2013 52 GBP Group:
No |
31/03/2012 52 GBP Group:
No |
31/03/2011 52 GBP Group:
No |
|
Capital Employed |
4,303 |
-4,864 |
83 |
0 |
Financial Ratios
|
Name |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Pre Tax Profit Margin |
0.0% |
0.0% |
0.0% |
0.0% |
|
Current Ration |
1.09 |
0.63 |
0.98 |
0.00 |
|
Sales or Net Working Capital |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gearing |
0.00 % |
0.00 % |
0.00 % |
0.0% |
|
Equity |
8.54 % |
-54.87 % |
0.68 % |
0.0% |
|
Creditor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Debtor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liquidity or Acid test |
1.09 |
0.36 |
0.60 |
0.00 |
|
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 |
10.71 % |
-2.82 % |
146.50 % |
0.0% |
|
Total Debt Ratio |
10.71 % |
-2.82 % |
146.50 % |
0.0% |
|
Stock Turnover Ratio |
0.0% |
0.0% |
0.0% |
0.0% |
|
Return on Net Assets
Employed |
0.0% |
0.0% |
0.0% |
0.0% |
Only abbreviated financial statement has been filed. In 2013/2014 Posit
Appropriation Profit amounted to GBP
Activity: Providing specialist residential and commercial furniture
consultancy and procurement services to client
Internationally
Trading Address: 12,
Screenworks 22 Highbury Grove London N5 2EF
Branches: None
Employees: Not
disclosed
Bank: HSBC Bank PLC
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
|
|
1 |
Rs.93.92 |
|
Euro |
1 |
Rs.72.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.