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Report No. : |
304057 |
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Report Date : |
24.01.2015 |
IDENTIFICATION DETAILS
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Name : |
EXEL CHEMICALS LIMITED |
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Registered Office : |
First Floor, Kirkland House, 11-15 Peterborough Road, Harrow, Middlesex, Ha1 2ax |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
19.03.2003 |
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Com. Reg. No.: |
04703341 |
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Legal Form : |
Private Limited With
Share Capital |
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Line of Business : |
· Other wholesale · Non-specialised wholesale trade [We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
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No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the company management.] |
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 : |
Moderate |
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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
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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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EXEL CHEMICALS LIMITED |
Telephone |
No listing |
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FIRST FLOOR, KIRKLAND HOUSE |
Fax |
- |
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11-15 PETERBOROUGH ROAD |
Website |
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HARROW |
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MIDDLESEX |
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HA1 2AX |
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United Kingdom |
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Company Number:
Foundation: |
04703341 19/03/2003 |
Status: |
Active - Accounts Filed |
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There has been an increase in shareholders funds compared with the previous balance
sheet.
The latest cash balances
are considered to be low in terms of the overall outstanding creditor obligations.
This company has been treated as a Small company. 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
19/03/2003
Company No.
04703341
Shareholders
|
Name |
Currency |
Number of shares |
Share type |
Nominal value |
|
MR DASHRATH MADHUBHAI DESAI |
GBP |
1,000 |
ORDINARY |
1 |
|
Total Share Capital GBP 1,000 |
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Management
|
Directors |
||||
|
Name |
Address: |
Date of birth |
Nationality |
Appointment date |
|
Mr Nishith Dashrath Desai |
24 West Drive, Cheam,
Surrey SM2
7NA |
14/05/1968 |
British |
21/02/2011 |
Secretary
No Secretary appointed
Other Known Addresses
First Floor, Kirkland
House, 11-15 Peterborough Road, Harrow,
Middlesex HA1 2AX
Main Activity
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SIC03 |
Other wholesale |
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SIC07 |
Non-specialised wholesale trade |
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Company History
Dates Action
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26/03/2010 |
Annual Returns |
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07/04/2010 |
New Accounts
Filed |
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28/02/2011 |
New Board Member Mr N.D. Desai appointed |
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02/03/2011 |
Mr D.M. Desai
has left the board |
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08/03/2011 |
New Board Member Mr N.D. Desai appointed |
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10/03/2011 |
Mrs Hurley has resigned as company
secretary |
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04/04/2011 |
Annual Returns |
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27/07/2011 |
New Accounts
Filed |
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23/03/2012 |
Annual Returns |
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28/03/2012 |
New Accounts
Filed |
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27/03/2013 |
Annual Returns |
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02/04/2013 |
New Accounts
Filed |
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24/03/2014 |
Annual Returns |
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16/07/2014 |
New Accounts
Filed |
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Mortgages
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Charge created |
29/07/2004 |
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Charge registered |
10/08/2004 |
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Status |
SATISFIED |
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Entitled person |
MRS SUTAN DESAI |
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Secured amount |
ALL MONIES DUE OR TO BECOME DUE
FROM THE COMPANY TO THE CHARGEE |
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Mortgage detail |
ALL F/H AND L/H PROPERTIES ALL PLANT MACHINERY GOODWILL BOOK
DEBTS OTHER DEBTS STOCK AND ALL OTHER ASSETS |
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County Court Judgments (CCJs)
There are no County Court Judgments listed against this company
Profit & Loss
|
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31/12/2013 78 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Depreciation |
2,181 |
5,041 |
5,210 |
4,131 |
Balance Sheet
|
|
31/12/2013 78 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Tangible Assets |
367 |
2,548 |
7,589 |
12,801 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
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Total Fixed Assets |
367 |
2,548 |
7,589 |
12,801 |
|
Stock |
149,056 |
206,787 |
160,501 |
15,048 |
|
Trade Debtors |
309,589 |
124,926 |
261,333 |
815,775 |
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Cash |
2,587 |
25,921 |
30,391 |
96,374 |
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Other Debtors |
0 |
0 |
0 |
0 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
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Total Current
Assets |
461,232 |
357,634 |
452,225 |
927,197 |
|
Trade Creditors |
389,267 |
292,157 |
395,376 |
874,330 |
|
Bank Loans and Overdraft |
0 |
0 |
0 |
0 |
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Other Short
Term Finance |
0 |
0 |
0 |
0 |
|
Miscellaneous Current Liabilities |
0 |
0 |
0 |
0 |
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Total Current
Liabilities |
389,267 |
292,157 |
395,376 |
874,330 |
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Bank Loans and Overdrafts LTL |
73 |
308 |
1,267 |
2,331 |
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Other Long Term Finance |
0 |
0 |
0 |
0 |
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Total Long Term Liabilities |
73 |
308 |
1,267 |
2,331 |
Capital & Reserves
|
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31/12/2013 78 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Called Up Share
Capital |
1,000 |
1,000 |
1,000 |
1,000 |
|
P and L Account Reserve |
71,259 |
66,717 |
62,171 |
62,337 |
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Revaluation Reserve |
0 |
0 |
0 |
0 |
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Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
72,259 |
67,717 |
63,171 |
63,337 |
Other Financial Items
|
|
31/12/2013 78 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Net Worth |
72,259 |
67,717 |
63,171 |
63,337 |
|
Working Capital |
71,965 |
65,477 |
56,849 |
52,867 |
|
Total Assets |
461,599 |
360,182 |
459,814 |
939,998 |
|
Total Liabilities |
389,340 |
292,465 |
396,643 |
876,661 |
|
Net Assets |
72,259 |
67,717 |
63,171 |
63,337 |
Cash Flow
|
|
31/12/2013 78 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Increase in Cash |
-23,334 |
-4,470 |
-65,983 |
3,511 |
Miscellaneous
|
|
31/12/2013 78 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Capital Employed |
72,332 |
68,025 |
64,438 |
65,668 |
Financial Ratios
Name 31/12/2013 30/06/2012 30/06/2011 30/06/2010
|
Pre Tax Profit
Margin |
0.0% |
0.0% |
0.0% |
0.0% |
|
Current Ration |
1.18 |
1.22 |
1.14 |
1.06 |
|
Sales or Net Working
Capital |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gearing |
0.10
% |
0.45
% |
2.01
% |
3.68
% |
|
Equity |
15.65
% |
18.80
% |
13.74
% |
6.74
% |
|
Creditor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Debtor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liquidity or Acid test |
0.80 |
0.51 |
0.73 |
1.04 |
|
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 |
5.38
% |
4.31
% |
6.25
% |
13.80
% |
|
Total Debt Ratio |
5.38
% |
4.31
% |
6.27
% |
13.84
% |
|
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
The property at
First Floor, Kirkland House, 11-15 Peterborough Road, Harrow, Middlesex, HA1
2AX is occupied by a firm of Accountants and 82 companies have their Registered
Office here, including the subject company.
Whilst there is
a website www.exelchemicals.com this
relates to a business conducted from A-303, Safal Pegasus, Nr. Prahladnagar
Garden, Anandnagar Road, Ahmedabad - 380 015. Gujarat, India.and this has no
apparent connection to the UK business being enquired upon.
Nishish
Dashrath Desai has been connected with the following companies, all now
dissolved:
Total
Enterprise Solutions Limited
Computer 3000
Limited
B2B4U.Com
Limited
B2B4U Group
Limited
Alpha Impex
(U.K.) Limited
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
UK Pound |
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
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|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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 |
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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.