|
Report No. : |
310545 |
|
Report Date : |
03.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
DIGITALK LIMITED |
|
|
|
|
Formerly Known As : |
LOADSTEM LIMITED |
|
|
|
|
Registered Office : |
2 Radian Court Davy Avenue Knowlhill Milton Keynes Buckinghamshire MK5 8PJ |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
08.03.1995 |
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|
|
|
Com. Reg. No.: |
03030801 |
|
|
|
|
Legal Form : |
Private limited with Share Capital
|
|
|
|
|
Line of Business : |
Software development for the telecommunications industry. |
|
|
|
|
No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
GBP 75,000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Slow but correct |
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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 – 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. 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.
|
Source
: CIA |
DIGITALK
LIMITED
Telephone +44 019 0842 5000
2
RADIAN COURT Fax
-
DAVY
AVENUE KNOWLHILL Website
www.digitalk.com
MILTON
KEYNES
BUCKINGHAMSHIRE
MK5
8PJ
United Kingdom
Company
Number: 03030801 Status: Active - Accounts Filed
Foundation: 08/03/1995
Payment
experience and credit opinion
Credit Limit GBP
75,000
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 a reduction in shareholders funds compared with the previous balance sheet.
This company has been treated as a Small company. This company has only made late payments on a low percentage of invoices. This company trades in an industry with a moderate level of corporate failures.
LEGAL
FORM
Private
limited with Share Capital
FOUNDATION
08/03/1995
COMPANY
NO.
03030801
PREVIOUS
NAMES
Date
of Change Previous Name
26/03/1996 LOADSTEM LIMITED
SHAREHOLDERS
|
Name |
Currency |
Number of |
Share type |
Nominal value |
|
|
|
shares |
|
|
|
DIGITALK
TECHNOLOGY LTD |
GBP |
100 |
ORDINARY |
1 |
|
Total
Share Capital |
|
|
|
GBP
100 |
MANAGEMENT
|
Directors |
|
|
|
|
|
Name |
Address: |
Date
of |
Nationality |
Appointment |
|
|
|
birth |
|
date |
|
Mr Justin Peter Norris |
2 Radian Court, Davy Avenue Knowlhill, Milton Keynes, Buckinghamshire MK5 8PJ |
17/07/1971 |
British |
25/04/1995 |
|
|
|
|
|
|
|
Mr Christopher Mark Dawes |
2 Radian Court, Davy Avenue Knowlhill, Milton Keynes, Buckinghamshire MK5 8PJ |
24/09/1968 |
British |
01/01/2003 |
|
|
|
|
|
|
|
Mr Andrew David Smith |
2 Radian Court, Davy Avenue Knowlhill, Milton Keynes, Buckinghamshire MK5 8PJ |
23/01/1963 |
British |
15/11/2004 |
COMPANY SECRETARY
|
Name |
Address: |
Appointment date |
|
Mr Justin Peter Norris |
2 Radian Court, Davy Avenue Knowlhill, Milton Keynes, Buckinghamshire MK5 8PJ |
25/04/1995 |
OTHER KNOWN
ADDRESSES
2 Radian Court, Knowlhill, Milton Keynes, Buckinghamshire MK5 8PJ
|
Company No. |
Name |
Status |
Country |
|
Ultimate parent |
|||
|
05653649 |
DIGITALK
TECHNOLOGY LIMITED |
Active |
United
Kingdom |
|
|
|
|
|
|
Affiliated companies |
|||
|
05775856 |
TELECOM
TECHNOLOGY SERVICES LIMITED |
Active |
United
Kingdom |
|
|
|
|
|
|
Subsidiary companies |
|||
|
03895749 |
DIGITALK
SERVICES LIMITED |
Non
Trading |
United
Kingdom |
|
|
|
|
|
|
Immediate parent |
|||
|
05653649 |
DIGITALK
TECHNOLOGY LIMITED |
Active |
United
Kingdom |
|
MAIN ACTIVITY |
|
|
Principal Activity |
Software development for the
telecommunications industry. |
|
SIC03 |
Telecommunications |
|
SIC07 |
Other telecommunications
activities |
|
Turnover and Employees |
|
|
|
Date of Accounts |
Turnover |
Employees |
|
30/06/2011 |
Not Stated |
Not Stated |
|
30/06/2012 |
Not Stated |
Not Stated |
|
30/06/2013 |
Not Stated |
Not Stated |
BANKS
Bank Name Bank
Branch Sort Code
BARCLAYS BANK PLC 20-57-40
AUDITOR
Auditor name
GRANT THORNTON UK LLP
EVENTS
Company history
|
Date |
Action |
|
10/03/2010 |
Annual Returns |
|
09/04/2010 |
New Accounts Filed |
|
09/04/2010 |
New Accounts Filed |
|
08/03/2011 |
Annual Returns |
|
22/03/2011 |
New Accounts Filed |
|
29/11/2011 |
Mr M.H. Ashdown has left the board |
|
29/12/2011 |
New Accounts Filed |
|
23/03/2012 |
Annual Returns |
|
21/12/2012 |
New Accounts Filed |
|
13/03/2013 |
Annual Returns |
|
10/03/2014 |
Annual Returns |
|
28/03/2014 |
New Accounts Filed |
MORTGAGES
|
Charge created |
03/11/2009 |
|
Charge registered |
06/11/2009 |
|
Status |
OUTSTANDING |
|
Entitled person |
BARCLAYS BANK PLC |
|
Secured amount |
ALL MONIES DUE OR TO BECOME
DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
Mortgage detail |
THE CHARGE CREATES A FIXED CHARGE
OVER ALL THE DEPOSIT(S) REFERRED TO IN THE SCHEDULE TO THE FORM
395 (INCLUDING ALL ORANY PART OF THE MONEY
PAYABLE PURSUANT TO
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 AND TO GIVE EFFECT TO THE SECURITY OVER THE
RIGHT OF THE CHARGOR TO REQUIRE REPAYMENT OF SUCH DEPOSIT(S) AND INTEREST
THEREONBARCLAYS BANK PLC RE DIGITALK LIMITED BUSINESS PREMIUM ACCOUNT ACCOUNT
NUMBER 93150046 |
COUNTY COURT
JUDGMENTS (CCJS)
There are no County Court Judgments listed against this company
PROFIT & LOSS
|
|
30/06/2013 52 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Turnover |
0 |
0 |
0 |
3,462,736 |
|
Export |
- |
- |
- |
2,050,514 |
|
Cost of Sales |
- |
- |
- |
1,140,927 |
|
Gross Profit |
- |
- |
- |
2,321,809 |
|
Wages And Salaries |
0 |
0 |
0 |
1,870,731 |
|
Directors Emoluments |
- |
- |
- |
647,665 |
|
Operating Profit |
- |
- |
- |
-189,450 |
|
Depreciation |
55,797 |
40,419 |
37,608 |
47,452 |
|
Audit Fees |
- |
- |
- |
19,500 |
|
Interests Payments |
- |
- |
- |
79,030 |
|
Pre Tax Profit |
0 |
0 |
0 |
-212,196 |
|
Taxation |
- |
- |
- |
73,600 |
|
Profit After Tax |
- |
- |
- |
-138,596 |
|
Dividends Payable |
- |
- |
- |
0 |
|
Retained Profit |
- |
- |
- |
-138,596 |
BALANCE SHEET
|
|
30/06/2013 52 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 |
194,029 |
103,613 |
72,726 |
61,993 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
194,029 |
103,613 |
72,726 |
61,993 |
|
Stock |
61,392 |
152,125 |
309,359 |
292,009 |
|
Trade Debtors |
849,048 |
1,480,656 |
1,604,420 |
1,413,311 |
|
Cash |
407,194 |
647,560 |
606,399 |
441,799 |
|
Other Debtors |
0 |
0 |
0 |
354,666 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total Current Assets |
1,317,634 |
2,280,341 |
2,520,178 |
2,501,785 |
|
Trade Creditors |
706,210 |
1,380,807 |
1,876,637 |
249,080 |
|
Bank Loans and Overdraft |
0 |
0 |
0 |
0 |
|
Other Short Term Finance |
0 |
0 |
0 |
943,958 |
|
Miscellaneous Current
Liabilities |
0 |
0 |
0 |
1,090,396 |
|
Total Current Liabilities |
706,210 |
1,380,807 |
1,876,637 |
2,283,434 |
|
Bank Loans and Overdrafts LTL |
100,000 |
100,000 |
100,000 |
250,000 |
|
Other Long Term Finance |
0 |
0 |
0 |
250,000 |
|
Total Long Term Liabilities |
100,000 |
100,000 |
100,000 |
250,000 |
CAPITAL &
RESERVES
|
|
30/06/2013 52 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 |
100 |
100 |
100 |
100 |
|
P and L Account Reserve |
705,253 |
902,947 |
616,067 |
30,144 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
100 |
100 |
100 |
100 |
|
Shareholders Funds |
705,453 |
903,147 |
616,267 |
30,344 |
OTHER FINANCIAL
ITEMS
|
|
30/06/2013 52 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 |
705,453 |
903,147 |
616,267 |
30,344 |
|
Working Capital |
611,424 |
899,534 |
643,541 |
218,351 |
|
Total Assets |
1,511,663 |
2,383,954 |
2,592,904 |
2,563,778 |
|
Total Liabilities |
806,210 |
1,480,807 |
1,976,637 |
2,533,434 |
|
Net Assets |
705,453 |
903,147 |
616,267 |
30,344 |
CASH FLOW
|
|
30/06/2013 52 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 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 |
-240,366 |
41,161 |
164,600 |
95,924 |
MISCELLANEOUS
|
|
30/06/2013 52 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 |
805,453 |
1,003,147 |
716,267 |
280,344 |
FINANCIAL RATIOS
|
Name |
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
Pre Tax Profit Margin |
0.0% |
0.0% |
0.0% |
-6.13
% |
|
Current Ration |
1.87 |
1.65 |
1.34 |
1.10 |
|
Sales or Net Working Capital |
0.00 |
0.00 |
0.00 |
15.86 |
|
Gearing |
14.18
% |
11.07
% |
16.23
% |
823.89
% |
|
Equity |
46.67
% |
37.88
% |
23.77
% |
1.18
% |
|
Creditor Days |
0.00 |
0.00 |
0.00 |
26.18 |
|
Debtor Days |
0.00 |
0.00 |
0.00 |
148.56 |
|
Liquidity or Acid test |
1.77 |
1.54 |
1.17 |
0.96 |
|
Return on Capital Employed |
0.0% |
0.0% |
0.0% |
-75.69
% |
|
Return on Total Assets
Employed |
0.0% |
0.0% |
0.0% |
-8.27
% |
|
Current Debt Ratio |
1.00
% |
1.52
% |
3.04
% |
75.25
% |
|
Name |
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
Total Debt Ratio |
1.14
% |
1.63
% |
3.20
% |
83.49
% |
|
Stock Turnover Ratio |
0.0% |
0.0% |
0.0% |
8.43
% |
|
Return on Net Assets Employed |
0.0% |
0.0% |
0.0% |
-699.30
% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.82 |
|
|
1 |
Rs.95.27 |
|
Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.