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Report No. : |
303086 |
|
Report Date : |
19.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
URBAN ICE LIMITED |
|
|
|
|
Registered Office : |
61 Great Ducie Street, Manchester, Greater Manchester, M3 1RR |
|
|
|
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Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.03.2013 |
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|
|
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Date of Incorporation : |
13.01.2012 |
|
|
|
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Com. Reg. No.: |
07908484 |
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|
|
|
Legal Form : |
Private Limited With Share Capital |
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|
|
|
Line of Business : |
Wholesale of Clothing
and Footwear |
|
|
|
|
No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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 |
URBAN ICE LIMITED
61 Great Ducie Street
Manchester
Greater Manchester
M3 1RR
United Kingdom
Telephone +44 (0)161 817 8840
Fax +44 (0)161 817 8834
Website www.urbanice.co.uk
|
Company Number: |
07908484 |
Status: |
Active - Accounts
Filed |
|
Foundation: |
13/01/2012 |
VAT No: |
N/A |
Payment experience and credit opinion
No exact match CCJs are recorded against the company.
There has been no significant change in the company’s credit limit. There is insufficient data to indicate a change in this company’s percentage of sales. There is insufficient data to indicate a change in this company’s pre-tax profit. The company is exempt from audit. No recent changes in directorship are recorded. The company is not part of a group. The company was established over 2 years ago.
Legal form
Private limited with Share Capital
Foundation
13/01/2012
Company No.
07908484
Shareholders
|
Name |
Currency |
Number
of |
Share
type |
Nominal
value |
|
|
|
shares |
|
|
|
MODE INTERNATIONAL LTD |
GBP |
50 |
ORDINARY |
1 |
|
ARUN KUMAR |
GBP |
50 |
ORDINARY |
1 |
|
Total
Share Capital |
|
|
|
GBP
100 |
|
Directors |
|
|
|
|
|
Name |
Address: |
Date of Birth |
Nationality |
Appointment Date |
|
Mr. Arun Kumar |
61 Great Ducie Street, Manchester, Greater Manchester M3 1 RR |
27/03/1973 |
British |
13/01/2012 |
|
Mr. Satz Reddy Nallamilli |
61 Great Ducie Street, Manchester, Greater Manchester M3 1 RR |
10/05/1966 |
British |
13/01/2012 |
|
Name |
Address: |
Appointment Date |
|
Mr. Satz Reddy Nallamilli |
61 Great Ducie Street, Manchester, Greater Manchester M3 1 RR |
13/01/2012 |
Rajan House, 61 Great Ducie Street, Manchester, Lancashire M3 1RR
|
Main activity |
|
|
SIC03 |
Wholesale of
clothing and footwear |
|
SIC07 |
Wholesale of
clothing and footwear |
|
Turnover and
Employees |
|
|
|
Date of
Accounts Turnover |
|
Employees |
|
31/03/2013 |
Not Stated |
Not Stated |
Supplementary
data
|
|
|
Events |
|
|
Company History |
|
|
Date |
Action |
|
17/01/2012 |
New Company
Secretary Mr. S.R. Nallamilli appointed |
|
17/01/2012 |
New Board Member
Mr. S.R. Nallamilli appointed |
|
17/01/2012 |
New Board Member Mr.
A. Kumar appointed |
|
09/02/2013 |
Annual Returns |
|
22/10/2013 |
New Accounts
Filed |
|
27/06/2014 |
Annual Returns |
There are no County
Court Judgments listed against this company
Profit & Loss
|
|
31/03/2013 |
|
|
65 |
|
|
GBP |
|
|
Group: No |
|
Turnover |
0 |
|
|
31/03/2013 |
|
|
65 |
|
|
GBP |
|
|
Group: No |
|
Export |
- |
|
Cost of Sales |
- |
|
Gross Profit |
- |
|
Wages And Salaries |
0 |
|
Directors Emoluments |
- |
|
Operating Profit |
- |
|
Depreciation |
626 |
|
Audit Fees |
0 |
|
Interests Payments |
- |
|
Pre Tax Profit |
0 |
|
Taxation |
- |
|
Profit After Tax |
- |
|
Dividends Payable |
- |
|
Retained Profit |
- |
Balance Sheet
|
|
31/03/2013 |
|
|
65 |
|
|
GBP |
|
|
Group: No |
|
Tangible Assets |
2,506 |
|
Intangible Assets |
0 |
|
Total Fixed
Assets |
2,506 |
|
Stock |
0 |
|
Trade Debtors |
46 |
|
Cash |
398,725 |
|
|
31/03/2013 |
|
|
65 |
|
|
GBP |
|
|
Group: No |
|
Other Debtors |
0 |
|
Miscellaneous Current Assets |
0 |
|
Total Current Assets |
398,771 |
|
Trade Creditors |
523,167 |
|
Bank Loans and Overdraft |
0 |
|
Other Short Term Finance |
0 |
|
Miscellaneous Current Liabilities |
0 |
|
Total Current Liabilities |
523,167 |
|
Bank Loans and Overdrafts LTL |
0 |
|
Other Long Term Finance |
0 |
|
Total Long Term Liabilities |
0 |
Capital & Reserves
|
|
31/03/2013 |
|
|
65 |
|
|
GBP |
|
|
Group: No |
|
Called Up Share Capital |
100 |
|
P and L Account Reserve |
-121,990 |
|
Revaluation Reserve |
0 |
|
Sundry Reserves |
0 |
|
Shareholders Funds |
-121,890 |
Other Financial Items
|
|
31/03/2013 |
|
|
65 |
|
|
GBP |
|
|
Group: No |
|
Net Worth |
-121,890 |
|
Working Capital |
-124,396 |
|
Total Assets |
401,277 |
|
Total Liabilities |
523,167 |
|
Net Assets |
-121,890 |
Cash Flow
|
|
31/03/2013 |
|
|
65 |
|
|
GBP |
|
|
Group: No |
|
Net Cash Flow from Operations |
0 |
|
Net Cash Flow before Financing |
0 |
|
Net Cash Flow from Financing |
0 |
|
Increase in Cash |
0 |
Miscellaneous
|
|
31/03/2013 |
|
|
65 |
|
|
GBP |
|
|
Group: No |
|
Capital Employed |
-121,890 |
|
- |
- |
Financial Ratios
|
Name |
31/03/2013 |
|
Pre Tax Profit Margin |
0.0% |
|
Current Ration |
0.76 |
|
Sales or Net Working Capital |
0.00 |
|
Gearing |
0.00 % |
|
Equity |
-30.38 % |
|
Creditor Days |
0.00 |
|
Name |
31/03/2013 |
|
Debtor Days |
0.00 |
|
Liquidity or Acid test |
0.76 |
|
Return on Capital Employed |
0.0% |
|
Return on Total Assets Employed |
0.0% |
|
Current Debt Ratio |
-4.29 % |
|
Total Debt Ratio |
-4.29 % |
|
Stock Turnover Ratio |
0.0% |
|
Return on Net Assets Employed |
0.0% |
Only abbreviated financial statement has been filed.
In the first trading period the Post Appropriation Loss amounted to GBP
121,990. The initial financial position seems weak and balance sheet wise the company
is technically insolvent. The shareholder Mode International Ltd had Capital
and Reserves of GBP 1,571,374 as at 31.03.2014. It remains to be seen how this
company performed in 2013/2014.
Activity: Supplier of men's casual wear to the high
street retailers and department stores of the UK and Europe
Trading Address: 61 Great Ducie Street, Manchester M3
1RR,
Branches: None
Employees: Few Staff
Bank: Lloyds Bank PLC
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
|
|
1 |
Rs.93.92 |
|
Euro |
1 |
Rs.72.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.