MIRA INFORM REPORT

 

 

Report No. :

324574

Report Date :

08.06.2015

 

IDENTIFICATION DETAILS

 

Name :

RAEX UK LTD

 

 

Registered Office :

34 Bitham Lanestrettonburton On Trentde13 0 HA

 

 

Country :

United Kingdom

 

 

Date of Incorporation :

19.04.2012

 

 

Com. Reg. No.:

08038420

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Wholesale of other machinery and equipment.

 

 

No. of Employee :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Dormant company

 

 

Payment Behaviour :

--

 

 

Litigation :

--

 

 

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)

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. 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 and address

 

RAEX UK LTD

 

Company No:

08038420

 

Registered Address:

34 BITHAM LANESTRETTONBURTON ON TRENTDE13 0HA

 

 

Company Summary

 

Registered Address

34 BITHAM LANE STRETTON BURTON ON TRENT DE13 0HA

Trading Address

34 Bitham Lane
Stretton Burton-On-Trent Staffordshire DE13 0HA

Website Address

--

 

 

Telephone Number

--

Fax Number

 

TPS

--

FPS

No

Incorporation Date

19.04.2012

 

 

Previous Name

--

Type

Private limited with Share Capital

FTSE Index

--

Date of Change

--

Filing Date of Accounts

20/12/2014

Currency

GBP

Share Capital

£1

SIC07

 

Charity Number

--

 

 

SIC07 Description

WHOLESALE OF OTHER MACHINERY AND EQUIPMENT

Principal Activity

The company was dormant during y/e 30.04.14.

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

30.04.2014

--

--

--

--

30.04.2013

--

--

--

--

--

--

--

--

--

 

 

Commentary

 

No comments to display

 

 

 

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 -

-

 

 

Total Current Directors

3

Total Current Secretaries

0

Total Previous Directors / Company Secretaries

0

 

 

Current Directors

 

Name

Andrew Grimsdell

Date of Birth

28/01/1967

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

19/04/2012

Address

34 Bitham Lane, Stretton, Burton On Trent, Staffordshire, DE13 0HA

 

Name

Tracey Jane Grimsdell

Date of Birth

12/02/1969

Officers Title

Mrs

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

19/04/2012

Address

34 Bitham Lane, Stretton, Burton On Trent, Staffordshire, DE13 0HA

 

Name

POWERDRIVE MOTORS & CONTROLS LTD

Date of Birth

-

Officers Title

Nationality

Present Appointments

1

Function

Director

Appointment Date

19/04/2012

Address

34 Bitham Lane, Stretton, Burton On Trent, Staffordshire, DE13 0HA

 

 

Current Company Secretary

 

--

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

POWERDRIVE MOTORS & CONTROLS LTD

GBP

1

ORDINARY

1

100

 

 

Balance Sheet

 

Date Of Accounts

30/04/14

(%)

30/04/13

(%)

-

(%)

-

(%)

-

Tangible Assets

0

-

0

-

-

-

-

-

-

Intangible Assets

0

-

0

-

-

-

-

-

-

Total Fixed Assets

0

-

0

-

-

-

-

-

-

Stock

0

-

0

-

-

-

-

-

-

Trade Debtors

0

-

0

-

-

-

-

-

-

Cash

0

-

0

-

-

-

-

-

-

Other Debtors

0

-

0

-

-

-

-

-

-

Miscellaneous Current Assets

0

-

0

-

-

-

-

-

-

Total Current Assets

0

-

0

-

-

-

-

-

-

Trade Creditors

0

-

0

-

-

-

-

-

-

Bank Loans & Overdrafts

0

-

0

-

-

-

-

-

-

Other Short Term Finance

0

-

0

-

-

-

-

-

-

Miscellaneous Current Liabilities

0

-

0

-

-

-

-

-

-

Total Current Liabilities

0

-

0

-

-

-

-

-

-

Bank Loans & Overdrafts and LTL

0

-

0

-

-

-

-

-

-

Other Long Term Finance

0

-

0

-

0

-

-

-

-

Total Long Term Liabilities

0

-

0

-

-

-

-

-

-

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

06/05/2015

Annual Returns

10/01/2015

New Accounts Filed

02/05/2014

Annual Returns

23/08/2013

New Accounts Filed

29/04/2013

Annual Returns

23/04/2012

New Board Member POWERDRIVE MOTORS & CONTROLS LTD appointed

23/04/2012

New Board Member Mrs T.J. Grimsdell appointed

23/04/2012

New Board Member Mr A. Grimsdell appointed

 

 

Previous Company Names

 

No Previous Names found

 

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

3 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

POWERDRIVE MOTORS & CONTROLS LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

POWERDRIVE MOTORS & CONTROLS LIMITED

 

 

Group StructureFull

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

 POWERDRIVE MOTORS & CONT...

07495674

31.03.2014

N

 RAEX LTD

08040800

30.04.2014

N

 RAEX UK LTD

08038420

30.04.2014

N

 

 

Previous Director/Company Secretaries

 

No Previous Director Details

Average Invoice Value

n/a

Invoices available

n/a

Paid

n/a

Outstanding

n/a

 

 

 

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

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.89

UK Pound

1

Rs.97.98

Euro

1

Rs.71.82

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAJ

 

 

Report Prepared by :

ANK

 

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.