MIRA INFORM REPORT

Report No. :	328027
Report Date :	22.06.2015

IDENTIFICATION DETAILS

Name :	ATIQUE TEXTILES LIMITED

Registered Office :	117-119 White Abbey Roadbradfordwest Yorkshirebd8 8Dr

Country :	United Kingdom

Financials (as on) :	31.07.2014

Date of Incorporation :	29.06.2002

Com. Reg. No.:	04473851

Legal Form :	Private limited with Share Capital

Line of Business :	Wholesale and retail sales of textiles.

No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

United Kingdom

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

ATIQUE TEXTILES LIMITED

Company No

04473851

Registered Address

117-119 WHITE ABBEY ROADBRADFORDWEST YORKSHIREBD8 8DR

Company summary

Registered Address	117-119 WHITE ABBEY ROAD BRADFORD WEST YORKSHIRE BD8 8DR	Trading Address	117-119 White Abbey Road Bradford West Yorkshire BD8 8DR
Website Address	http://www.atiquetextiles.com
Telephone Number	01274488812	Fax Number	--
TPS	No	FPS	No
Incorporation Date	29/06/2002
Previous Name	--	Type	Private limited with Share Capital
FTSE Index	--	Date of Change	--
Filing Date of Accounts	23/03/2015	Currency	GBP
Share Capital	£600	SIC07	46410
Charity Number	--
SIC07 Description	WHOLESALE OF TEXTILES
Principal Activity	Wholesale and retail sales of textiles.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
31/07/2014	--	--	£1,297,037	--
31/07/2013	--	--	£1,227,956	--
31/07/2012	--	--	£1,129,707	--

Mortgage Summary

Total Mortgage 1

Outstanding 1

Satisfied 0

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 2

Total Value of Documented Trade £29,983

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.
There has been an increase in shareholders funds compared with the previous balance sheet.
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 -	-

Total Current Directors	6
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	1

Current Directors

Name	Mushtaq Ahmed	Date of Birth	22/02/1958
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	29/06/2002
Address	9 Selborne Grove, Bradford, West Yorkshire, BD9 4NL

Name	Mahroof Akhtar	Date of Birth	17/05/1957
Officers Title		Nationality	British
Present Appointments	1	Function	Director
Appointment Date	29/06/2002
Address	9 Selborne Grove, Bradford, West Yorkshire, BD9 4NL

Name	Mohammed Saddique	Date of Birth	25/02/1931
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	29/06/2002
Address	5 Selborne Grove, Bradford, West Yorkshire, BD9 4NL

Name	Sakina Bibi	Date of Birth	10/10/1933
Officers Title	Ms	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	29/06/2002
Address	5 Selborne Grove, Bradford, West Yorkshire, BD9 4NL

Name	Atia Bi Hussain	Date of Birth	19/08/1970
Officers Title		Nationality	British
Present Appointments	1	Function	Director
Appointment Date	29/06/2002
Address	5 Selborne Grove, Bradford, West Yorkshire, BD9 4NL

Name	Atique Rehman Saddique	Date of Birth	25/02/1965
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	29/06/2002
Address	5 Selborne Grove, Bradford, West Yorkshire, BD9 4NL

Current Company Secretary

Name	Atique Rehman Saddique	Date of Birth	25/02/1965
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Company Secretary
Appointment Date	29/06/2002
Address	5 Selborne Grove, Bradford, West Yorkshire, BD9 4NL

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MR MUSHTAQ AHMED	GBP	100	ORDINARY	1	16.67
MRS SAKINA BIBI	GBP	100	ORDINARY	1	16.67
MRS ATIA BI HUSSAIN	GBP	100	ORDINARY	1	16.67
MR ATIQUE RHEMAN SADDIQUE	GBP	100	ORDINARY	1	16.67
MR MOHAMMED SADDIQUE	GBP	100	ORDINARY	1	16.67
MRS MAHROOF AKHTAR	GBP	100	ORDINARY	1	16.67

Profit & Loss

Date Of Accounts	31/07/14	(%)	31/07/13	(%)	31/07/12	(%)	31/07/11	(%)	31/07/10
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	-	-	-	-	-	-	-	-	£2,909,153
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-100%	£2,129,158
Gross Profit	-	-	-	-	-	-	-	-	£779,995
Wages & Salaries	-	-	-	-	-	-	-	-	£211,632
Directors Emoluments	-	-	-	-	-	-	-	-	£31,214
Operating Profit	-	-	-	-	-	-	-	-	£332,777
Depreciation	£40,944	-3.7%	£42,520	-9.5%	£46,972	8%	£43,483	-7.9%	£47,234
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	£7,932
Pre Tax Profit	-	-	-	-	-	-	-	-	£324,845
Taxation	-	-	-	-	-	-	-	-	-£68,469
Profit After Tax	-	-	-	-	-	-	-	-	£256,376
Dividends Payable	-	-	-	-	-	-	-	-	£170,000
Retained Profit	-	-	-	-	-	-	-	-	£86,376

Balance Sheet

Date Of Accounts	31/07/14	(%)	31/07/13	(%)	31/07/12	(%)	31/07/11	(%)	31/07/10
Tangible Assets	£1,384,323	-2.3%	£1,416,777	-2.9%	£1,459,297	-1.2%	£1,476,473	-2.6%	£1,516,008
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£1,384,323	-2.3%	£1,416,777	-2.9%	£1,459,297	-1.2%	£1,476,473	-2.6%	£1,516,008
Stock	£340,632	4.8%	£324,959	11.9%	£290,323	-47.7%	£555,370	6.6%	£520,835
Trade Debtors	£324,207	-13.3%	£373,739	-22.2%	£480,545	2.7%	£467,785	13.8%	£411,066
Cash	£646,525	-0.1%	£647,158	5.1%	£615,978	-16.3%	£736,133	41.6%	£519,978
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£1,311,364	-2.6%	£1,345,856	-3%	£1,386,846	-21.2%	£1,759,288	21.2%	£1,451,879
Trade Creditors	£392,505	-3.4%	£406,239	15%	£353,312	-44.1%	£631,679	-0.3%	£633,845
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	£392,505	-3.4%	£406,239	15%	£353,312	-44.1%	£631,679	-0.3%	£633,845
Bank Loans & Overdrafts and LTL	£1,006,145	-10.8%	£1,128,438	-17.2%	£1,363,124	-0.4%	£1,368,108	19.1%	£1,148,638
Other Long Term Finance	0	-	0	-	0	-	0	-100%	£1,148,638
Total Long Term Liabilities	£1,006,145	-10.8%	£1,128,438	-17.2%	£1,363,124	-0.4%	£1,368,108	19.1%	£1,148,638

Capital & Reserves

Date Of Accounts	31/07/14	(%)	31/07/13	(%)	31/07/12	(%)	31/07/11	(%)	31/07/10
Called Up Share Capital	£600	-	£600	-	£600	-	£600	-	£600
P & L Account Reserve	£1,296,437	5.6%	£1,227,356	8.7%	£1,129,107	-8.6%	£1,235,374	4.3%	£1,184,804
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£1,297,037	5.6%	£1,227,956	8.7%	£1,129,707	-8.6%	£1,235,974	4.3%	£1,185,404

Other Financial Items

Date Of Accounts	31/07/14	(%)	31/07/13	(%)	31/07/12	(%)	31/07/11	(%)	31/07/10
Net Worth	£1,297,037	5.6%	£1,227,956	8.7%	£1,129,707	-8.6%	£1,235,974	4.3%	£1,185,404
Working Capital	£918,859	-2.2%	£939,617	-9.1%	£1,033,534	-8.3%	£1,127,609	37.8%	£818,034
Total Assets	£2,695,687	-2.4%	£2,762,633	-2.9%	£2,846,143	-12%	£3,235,761	9%	£2,967,887
Total Liabilities	£1,398,650	-8.9%	£1,534,677	-10.6%	£1,716,436	-14.2%	£1,999,787	12.2%	£1,782,483
Net Assets	£1,297,037	5.6%	£1,227,956	8.7%	£1,129,707	-8.6%	£1,235,974	4.3%	£1,185,404

Cash Flow

Date Of Accounts	31/07/14	(%)	31/07/13	(%)	31/07/12	(%)	31/07/11	(%)	31/07/10
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/07/14	(%)	31/07/13	(%)	31/07/12	(%)	31/07/11	(%)	31/07/10
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£2,303,182	-2.3%	£2,356,394	-5.5%	£2,492,831	-4.3%	£2,604,082	11.6%	£2,334,042
Number of Employees	-	-	-	-	-	-	-	-	14

Auditors
Auditor Comments	The company is exempt from audit
Bankers	BARCLAYS BANK PLC
Bank Branch Code	20-11-81

Ratios

Date Of Accounts	31/07/14	31/07/13	31/07/12	31/07/11	31/07/10
Pre-tax profit margin %	-	-	-	-	11.17
Current ratio	3.34	3.31	3.93	2.79	2.29
Sales/Net Working Capital	-	-	-	-	3.56
Gearing %	77.60	91.90	120.70	110.70	96.90
Equity in %	48.10	44.40	39.70	38.20	39.90
Creditor Days	-	-	-	-	79.30
Debtor Days	-	-	-	-	51.43
Liquidity/Acid Test	2.47	2.51	3.10	1.90	1.46
Return On Capital Employed %	-	-	-	-	13.91
Return On Total Assets Employed %	-	-	-	-	10.94
Current Debt Ratio	0.30	0.33	0.31	0.51	0.53
Total Debt Ratio	1.07	1.24	1.51	1.61	1.50
Stock Turnover Ratio %	-	-	-	-	17.90
Return on Net Assets Employed %	-	-	-	-	27.40

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
26/03/2015	New Accounts Filed
25/06/2014	Annual Returns
05/05/2014	New Accounts Filed
05/05/2014	New Accounts Filed
03/07/2013	Annual Returns
04/05/2013	New Accounts Filed
30/07/2012	Annual Returns
04/06/2012	New Accounts Filed
04/06/2012	New Accounts Filed
27/06/2011	Annual Returns
19/04/2011	New Accounts Filed
19/04/2011	New Accounts Filed
22/06/2010	Annual Returns
18/05/2010	New Accounts Filed
18/05/2010	New Accounts Filed

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 StructureFull

No Group Structure

Mortgage Details

Mortgage Type:	DEED OF CHARGE OVER CREDIT BALANCES
Date Charge Created:	21/10/03
Date Charge Registered:	27/10/03
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER PROVIDED THAT THE TOTAL SUM RECOVERABLE SHALL NOT EXCEED TWO HUNDRED AND FIFTY THOUSAND POUNDS
Details:	ATIQUE TEXTILES LIMITED GTS BID DEPOSITBID NUMBER 69498333 THE CHARGE CREATES A FIXED CHARGE OVERALLTHE DEPOSIT(S) REFERRED TO IN THE SCHEDULE TO THE FORM 395 (INCLUDING ALL OR ANY PART OF THE MONEYPAYABLE PURSUANTTO SUCH DEPOSIT(S) AND THE DEBTS REPRESENTED THEREBY) TOGETHER WITH ALL INTEREST FROM TIME TO TIME ACCRUING THEREON IT ALSO CREATES AN ASSIGNMENT BY THE CHARGOR FOR THE PURPOSES OF ANDTO GIVE EFFECTTO THE SECURITY OVER THE RIGHT OF THE CHARGOR TO REQUIRE REPAYMENT OF SUCH DEPOSIT(S)AND INTEREST THEREON

Creditor Details

	Total Number	Total Value
Trade Creditors	0	-
No Creditor Data

Trade Debtors / Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	2	£29,983
Company Name		Amount	Statement Date
Jaan @ Punjab Textiles (Leicester) Limited		£27,758	26/02/2013
K S M Textiles Limited		£2,225	24/10/2014

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Kevin Brewer	348	27360
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.63.82
UK Pound	1	Rs.101.26
Euro	1	Rs.72.36

INFORMATION DETAILS

Analysis Done by :	KAR

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%)

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