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Report No. : |
302131 |
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Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
BHOJSONS(U.K.)LIMITED |
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|
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Registered Office : |
2nd Floor, 13-17 Long Lane, London, Ec1a 9pn |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
26.03.1953 |
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Com. Reg. No.: |
00517698 |
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Legal Form : |
Private Limited With Share Capital |
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Line of Business : |
Importers and exporters of various goods to Nigeria & engaged in Looking to Buy Recycled/Grounded Plastics Raw Materials (Eg.: LDPE Film Grade, HDPE (Film and Blow Grade), PVC and PPCP in Clear/white Pellet Form.) |
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|
|
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No of Employees : |
04 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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Insignificant |
A1 |
|
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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BHOJSONS(U.K.)LIMITED |
Telephone |
020 77260360 |
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2ND FLOOR |
Fax |
020 77260361 |
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13-17 LONG LANE |
Website |
- |
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LONDON |
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EC1A 9PN |
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United Kingdom |
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Company Number:
Foundation: |
00517698 26/03/1953 |
Status: VAT No: |
Active - Accounts Filed GB243953058 |
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Considered good for usual trade commitments
No exact match CCJs are recorded against the company. Net Worth increased by 7.1% during the latest trading period. The company saw an increase in their Cash Balance of 999.9% during the latest trading period. The audit report contains no adverse comments.
A 23.1% decline in Total Assets occurred during the latest trading period. The movement in accumulated earnings would indicate that the company incurred a loss after tax and other appropriations, including dividends.
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. No recent changes in directorship are recorded. The company is part of a group. The company was established over 61 years ago.
Legal form
Private limited with Share Capital
Foundation
26/03/1953
Company No.
00517698
Shareholders
Name Currency Number of shares Share
type Nominal value
BHOJSONS HOLDING
CO. LTD GBP 50,000 ORDINARY 10
Total Share Capital GBP 500,000
Management
|
Directors |
||||
|
Name |
Address: |
Date of
birth |
Nationality |
Appointment date |
|
Mr Dilip
Moorjani |
2nd Floor,
13-17 Long Lane, London
EC1A 9PN |
05/06/1964 |
|
22/11/2000 |
|
Company Secretary |
||
|
Name |
Address: |
Appointment date |
|
Mr Dilip
Moorjani |
2nd Floor, 13-17
Long Lane, London EC1A 9PN |
05/05/2009 |
Other Known Addresses
2nd Floor, 13-17 Long Lane, London EC1A 9PN
Company relationships
|
Company
No. Name Status Country Ultimate parent - BHOJSONS HOLDINGS CO LTD Other JE |
|
Business activities
Main activity
Importers and exporters of various goods to Nigeria & engaged in Looking to Buy Recycled/Grounded Plastics Raw Materials (Eg.: LDPE Film Grade, HDPE (Film and Blow Grade), PVC and PPCP in Clear/white Pellet Form.)
Economic data
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 |
Banks
|
Bank Name |
|
BARCLAYS BANK PLC |
Auditor
Auditor name
WILKINS KENNEDY LLP
Events
Company
history
Date Action
|
28/04/2010 |
Annual Returns |
|
06/11/2010 |
New Accounts Filed |
|
06/11/2010 |
New Accounts Filed |
|
31/03/2011 |
Annual Returns |
|
18/10/2011 |
New Accounts Filed |
|
10/04/2012 |
Annual Returns |
|
29/01/2013 |
New Accounts Filed |
|
29/01/2013 |
New Accounts Filed |
|
08/03/2013 |
Mr S. Bhasin
has left the board |
|
01/04/2013 |
Annual Returns |
|
12/11/2013 |
New Accounts Filed |
|
12/11/2013 |
New Accounts Filed |
|
08/04/2014 |
Annual Returns |
|
01/10/2014 |
New Accounts Filed |
|
01/10/2014 |
New Accounts Filed |
Mortgages
|
Charge created |
12/02/1996 |
|
Charge registered |
22/02/1996 |
|
Status |
SATISFIED |
|
Entitled person |
BANQUE NATIONALE DE PARIS
P.L.C. |
|
Mortgage detail |
ALL RIGHTS,TITLE,INTEREST AND AGREEMENTS..................TO BUY OR SELL GOODS
AND ALL PAYMENTS DUE
FROM THIRD PARTIES
UNDER CONTRACTS AND ALL CHEQUES/OTHER INSTRUMENTS......ALL GUARANTEES AND SECU- RITIES
AND INSURANCES;
ALL OTHER PROPERTY |
|
|
|
|
Charge created |
09/09/1999 |
|
Charge registered |
18/09/1999 |
|
Status |
SATISFIED |
|
Entitled person |
BANQUE NATIONALE DE PARIS |
|
Mortgage detail |
ALL RIGHT TITLE
AND INTEREST IN AND TO ALL AGREE-
MENTS,GUARANTEES,INSURANCES ANDANY PROPERTYSEE THE MORTGAGE
CHARGE DOCUMENT FOR FULL DETAILS |
|
|
|
|
Charge created |
04/09/2012 |
|
Charge registered |
05/09/2012 |
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Status |
OUTSTANDING |
|
Entitled person |
BANK LEUMI
(UK) PLC |
|
Secured amount |
ALL MONIES DUE OR TO BECOME
DUE FROM THE COMPANY
TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Mortgage detail |
BY WAY OF FIRST
FIXED CHARGE
ALL MONIESFROM TIME TO TIME
HELD TO THE CREDIT
OFTHE MORTGAGOR BY THE BANK
ON ANY CURRENT DEPOSIT OR OTHER BANK OR UNDER
ANY DEPOSIT RECEIPT
(”THE DEPOSIT MONIES”) |
County Court Judgments
(CCJs)
There are no County
Court Judgments listed
against this company
Profit & Loss
|
|
31/03/2014 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 |
|
Wages And Salaries |
0 |
0 |
0 |
0 |
|
Directors Emoluments |
- |
- |
- |
- |
|
Operating Profit |
- |
- |
- |
- |
|
Depreciation |
14,692 |
6,452 |
5,713 |
6,427 |
|
Audit Fees |
0 |
0 |
- |
- |
|
Interests Payments |
- |
- |
- |
- |
|
Pre Tax Profit |
0 |
0 |
0 |
0 |
|
Taxation |
- |
- |
- |
- |
|
Profit After
Tax |
- |
- |
- |
- |
|
Dividends Payable |
- |
- |
- |
- |
|
Retained Profit |
- |
- |
- |
- |
Balance Sheet
|
|
31/03/2014 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 |
|
Tangible Assets |
2,429,302 |
2,170,255 |
1,289,988 |
1,144,990 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
2,429,302 |
2,170,255 |
1,289,988 |
1,144,990 |
|
Stock |
0 |
0 |
0 |
0 |
|
Trade Debtors |
2,990,777 |
6,254,779 |
5,965,156 |
350,432 |
|
Cash |
855,076 |
25,035 |
750 |
2,501,163 |
|
Other Debtors |
377,119 |
200,769 |
202,157 |
0 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
5,538,727 |
|
Total Current
Assets |
4,222,972 |
6,480,583 |
6,168,063 |
8,390,322 |
|
Trade Creditors |
3,704,502 |
5,899,175 |
4,810,315 |
7,074,269 |
|
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 |
3,704,502 |
5,899,175 |
4,810,315 |
7,074,269 |
|
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
|
|
31/03/2014 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 |
500,000 |
500,000 |
500,000 |
500,000 |
|
P and L Account Reserve |
1,185,228 |
1,217,987 |
1,214,060 |
1,177,367 |
|
Revaluation Reserve |
1,262,544 |
1,033,676 |
933,676 |
783,676 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
2,947,772 |
2,751,663 |
2,647,736 |
2,461,043 |
Other Financial Items
|
|
31/03/2014 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 |
2,947,772 |
2,751,663 |
2,647,736 |
2,461,043 |
|
Working Capital |
518,470 |
581,408 |
1,357,748 |
1,316,053 |
|
Total Assets |
6,652,274 |
8,650,838 |
7,458,051 |
9,535,312 |
|
Total Liabilities |
3,704,502 |
5,899,175 |
4,810,315 |
7,074,269 |
|
Net Assets |
2,947,772 |
2,751,663 |
2,647,736 |
2,461,043 |
Cash Flow
|
|
31/03/2014 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 |
830,041 |
24,285 |
-2,500,413 |
593,194 |
Miscellaneous
|
|
31/03/2014 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 |
2,947,772 |
2,751,663 |
2,647,736 |
2,461,043 |
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 |
1.14 |
1.10 |
1.28 |
1.19 |
|
Sales or Net Working Capital |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gearing |
0.00 % |
0.00 % |
0.00 % |
0.00 % |
|
Equity |
44.31 % |
31.81 % |
35.50 % |
25.81 % |
|
Creditor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Debtor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liquidity or Acid test |
1.13 |
1.09 |
1.28 |
1.18 |
|
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 |
1.25 % |
2.14 % |
1.81 % |
2.87 % |
|
Total Debt Ratio |
1.25 % |
2.14 % |
1.81 % |
2.87 % |
|
Stock Turnover Ratio |
0.0% |
0.0% |
0.0% |
0.0% |
|
Return on Net Assets
Employed |
0.0% |
0.0% |
0.0% |
0.0% |
Remarks
Only abbreviated financial statement has been filed. In 2013/2014 Post Appropriation Loss amounted to GBP 32,759 (1012/2013 Profit GBP 3,927). The general financial position seems strong and the small apparent loss was well covered from reserves.
Remains to be seen how it further performs in 2014/2015.
Next accounts due to be filled by 31/12/2015
Activity: Importers and exporters of various goods to Nigeria
& engaged in Looking to Buy Recycled/Grounded Plastics Raw Materials (Eg.:
LDPE Film Grade, HDPE (Film and Blow Grade), PVC and PPCP in Clear/white Pellet Form.)
Trading Address: 13-17 Long Lane,London,EC1A 9PN
Branches: None
Employees: 4
Bank: Barclays Bank PLC
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
UK Pound |
1 |
Rs.93.27 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
Report Prepared by
: |
MNL |
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.