MIRA INFORM REPORT

Report No. :	326217
Report Date :	08.06.2015

IDENTIFICATION DETAILS

Name :	ABEX INFOWAY (EUROPE) LIMITED
Registered Office :	221 Kenton Laneharrowmiddlesexha3 8rp
Country :	United Kingdom
Financials (as on) :	31.03.2014
Date of Incorporation :	06.09.2000
Com. Reg. No.:	04066461
Legal Form :	Private limited with Share Capital
Line of Business :	Wholesale Of Other Machinery And Equipment
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 :	Small Company
Payment Behaviour :	Slow But Correct
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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
UK	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	D

UK ECONOMIC OVERVIEW

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. 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. In 2008, 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. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. 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 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 5.8% in 2013. The Bank of England (BoE) implemented an asset purchase program of �375 billion (approximately $586 billion) as of December 2014. 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 1.8%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

Source : CIA

Company name & address

Company Name: ABEX INFOWAY (EUROPE) LIMITED

Company No: 04066461

Company Status: Active - Accounts Filed

Registered Address: 221 KENTON LANEHARROWMIDDLESEXHA3 8RP

Company Summary

Registered Address	221 KENTON LANE HARROW MIDDLESEX HA3 8RP	Trading Address	221 KENTON LANE HARROW MIDDLESEX HA3 8RP
Website Address	http://www.abexengineering.com
Telephone Number	02089527711	Fax Number
TPS	No	FPS	No
Incorporation Date	06/09/2000
Previous Name		Type	Private limited with Share Capital
		FTSE Index	--
Date of Change	--	Filing Date of Accounts	29/12/2014
Currency	GBP	Share Capital	£100
SIC07	46690	Charity Number	--
SIC07 Description	WHOLESALE OF OTHER MACHINERY AND EQUIPMENT
Principal Activity	Software consultancy and web designs

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
31/03/2014	-	-	£1,665,670	-
31/03/2013	-	-	£1,685,177	-
31/03/2012	-	-	£1,584,564	-

Mortgage Summary

Total Mortgage 0

Outstanding 0

Satisfied 0

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

This company has been treated as a Small company in respect of the rating/limit generated.

The latest Balance Sheet indicates a very positive net working capital position.

The latest cash balances represent a positive level in terms of the overall outstanding creditor obligations.

This company trades in an industry with a moderate level of corporate failures.

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs	-
Total Number of Possible CCJs -	0	Total Value of Possible CCJs	-
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs	-
Total Number of Writs -	-

Current Directors

Name	Kiritkumar Patel	Date of Birth	28/04/1963
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	31/10/2000
Address	151 Headstone Lane, North Harrow, Middlesex, HA2 6LX

Current Company Secretary

Name	Sunita Patel	Date of Birth	28/01/1968
Officers Title	Mrs	Nationality	British
Present Appointments	3	Function	Company Secretary
Appointment Date	31/10/2000
Address	151 Headstone Lane, North Harrow, Middlesex, HA2 6LX

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
KIRITKUMAR PATEL	GBP	70	ORDINARY	1	70
SUNITA PATEL	GBP	30	ORDINARY	1	30

Profit & Loss

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	-	-	-	-	-	-	-	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-	-	-
Depreciation	£426	-25%	£568	-25%	£757	-25%	£1,009	-75.3%	£4,091
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Tangible Assets	£216,191	999.9%	£1,704	-25%	£2,272	-25%	£3,029	-85.4%	£20,774
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£216,191	999.9%	£1,704	-25%	£2,272	-25%	£3,029	-85.4%	£20,774
Stock	£21,641	-72.9%	£79,870	-27.1%	£109,542	-58.5%	£263,898	105.3%	£128,550
Trade Debtors	£364,705	-26.5%	£496,059	-32.2%	£732,065	-15.7%	£867,896	40%	£619,975
Cash	£1,110,960	-13.3%	£1,280,988	30.6%	£980,519	20.9%	£811,053	-4.2%	£846,869
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	£81,791	-	0	-	0	-	0	-	0
Total Current Assets	£1,579,097	-15%	£1,856,917	1.9%	£1,822,126	-6.2%	£1,942,847	21.8%	£1,595,394
Trade Creditors	£129,618	-25.3%	£173,444	-27.7%	£239,834	-45.9%	£443,408	0.1%	£443,083
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	0	-	0	-	0	-	0	-	0
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
Total Current Liabilities	£129,618	-25.3%	£173,444	-27.7%	£239,834	-45.9%	£443,408	0.1%	£443,083
Bank Loans & Overdrafts and LTL	0	-	0	-	0	-	0	-	0
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	0	-	0	-	0	-	0	-	0

Capital & Reserves

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Called Up Share Capital	£100	-	£100	-	£100	-	£100	-	£100
P & L Account Reserve	£1,665,570	-1.2%	£1,685,077	6.3%	£1,584,464	5.5%	£1,502,368	28.1%	£1,172,985
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£1,665,670	-1.2%	£1,685,177	6.3%	£1,584,564	5.5%	£1,502,468	28.1%	£1,173,085

Other Financial Items

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Net Worth	£1,665,670	-1.2%	£1,685,177	6.3%	£1,584,564	5.5%	£1,502,468	28.1%	£1,173,085
Working Capital	£1,449,479	-13.9%	£1,683,473	6.4%	£1,582,292	5.5%	£1,499,439	30.1%	£1,152,311
Total Assets	£1,795,288	-3.4%	£1,858,621	1.9%	£1,824,398	-6.2%	£1,945,876	20.4%	£1,616,168
Total Liabilities	£129,618	-25.3%	£173,444	-27.7%	£239,834	-45.9%	£443,408	0.1%	£443,083
Net Assets	£1,665,670	-1.2%	£1,685,177	6.3%	£1,584,564	5.5%	£1,502,468	28.1%	£1,173,085

Cash Flow

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£1,665,670	-1.2%	£1,685,177	6.3%	£1,584,564	5.5%	£1,502,468	28.1%	£1,173,085
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers	BARCLAYS BANK PLC
Bank Branch Code	20-01-89

Ratios

Date Of Accounts	31/03/14	31/03/13	31/03/12	31/03/11	31/03/10
Pre-tax profit margin %	-	-	-	-	-
Current ratio	12.18	10.71	7.60	4.38	3.60
Sales/Net Working Capital	-	-	-	-	-
Gearing %	0	0	0	0	0
Equity in %	92.80	90.70	86.90	77.20	72.60
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	12.01	10.24	7.14	3.78	3.31
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	0.07	0.10	0.15	0.29	0.37
Total Debt Ratio	0.07	0.10	0.15	0.29	0.37
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

Report Notes

There are no notes to display.

Status History

No Status History found

Event History View Documents

Date	Description
03/01/2015	New Accounts Filed
17/09/2014	Annual Returns
01/01/2014	New Accounts Filed
23/09/2013	Annual Returns
07/01/2013	New Accounts Filed
04/10/2012	Annual Returns
29/12/2011	New Accounts Filed
24/09/2011	Annual Returns
01/01/2011	New Accounts Filed
06/10/2010	Annual Returns
05/10/2010	Change in Reg.Office
10/02/2010	New Accounts Filed
05/10/2009	Annual Returns
04/02/2009	New Accounts Filed
12/10/2008	Annual Returns

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group Structure

No Group Structure

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
BHARDWAJ CORPORATE SERVICES LIMITED	210	20779
Ashok Bhardwaj	246	21544

Average Invoice Value	Ł437.87
Invoices available	3
Paid	3
Outstanding	0

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid	1	1	0	1	0
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 63.89
UK Pound	1	Rs. 97.97
Euro	1	Rs. 71.81

INFORMATION DETAILS

Analysis Done by :	SAN
Report Prepared by :	DPT

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%)

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