MIRA INFORM REPORT

 

 

Report No. :

321944

Report Date :

08.05.2015

 

IDENTIFICATION DETAILS

 

Name :

MAPLE (UK) LTD

 

 

Registered Office :

Cosmopolitan House Unit 3, 10a Christina Street, London Ec2a 4pa

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

18.02.2011

 

 

Legal Form :

Private Limited with Share Capital

 

 

Line of Business :

Agents involved in the sale of a variety of goods

 

 

No. of Employees :

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

 

 

COMPANY summary

 

Registered Address

Cosmopolitan House Unit 3
10a Christina Street
London Ec2a 4pa

Trading Address

Cosmopolitan House
10A Christina Street
London EC2A 4PA

Website Address

http://www.mapleuklimited.co.uk

Telephone Number

02077297263

Incorporation Date

18/02/2011

Type

Private limited with Share Capital

Date of Change

-

Filing Date of Accounts

14/05/2014

Currency

GBP

Share Capital

£3,000,000

SIC07

46190

Charity Number

-

SIC07 Description

Agents involved in the sale of a variety of goods

Principal Activity

Import and export in various commodities.

 

 

Key Financials

 

Yare to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/03/2014

£322,668,754

£712,039

£3,942,206

13

31/03/2013

£270,613,252

£615,928

£3,390,935

6

31/03/2012

£12,460,885

-£122,931

£877,069

5

 

 

Commentary

 

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

This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.

This company's return on total assets employed ratio indicates a relatively efficient use of assets.

This company has only made late payments on a low percentage of invoices.

The company has more cash than short term bank borrowings.

This company trades in an industry with a lower 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 -

-

 

 

Payment Information

 

DBT

4

Payment Trend

Stable

Industry DBT

13

Within Terms

Number of Experiences

-

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

9

0

1

0

0

Outstanding

0

0

0

0

0

 

 

Current Directors

 

Name

Satish Chander Gupta

Date of Birth

26/02/1950

Officers Title

Mr

Nationality

Indian

Present Appointments

1

Function

Director

Appointment Date

18/02/2011

Address

Cosmopolitan House Unit 3, 10a Christina Street, London, EC2A 4PA

 

Name

Sadiq Osmany

Date of Birth

11/05/1957

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

18/02/2011

Address

Cosmopolitan House Unit 3, 10a Christina Street, London, EC2A 4PA

 

Name

Sulbha Gupta

Date of Birth

03/08/1949

Officers Title

Mrs

Nationality

Indian

Present Appointments

1

Function

Director

Appointment Date

15/02/2012

Address

Cosmopolitan House Unit 3, 10a Christina Street, London, EC2A 4PA

 

 

Current Company Secretary

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

SATISH CHANDER GUPTA

GBP

2,000,000

ORDINARY

1

66.67

SULBHA GUPTA

GBP

1,000,000

ORDINARY

1

33.33

 

 

Profit & Loss

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

-

(%)

-

Weeks

52

(%)

52

(%)

52

(%)

-

(%)

-

Currency

GBP

(%)

GBP

(%)

GBP

(%)

-

(%)

-

Consolidated A/cs

N

(%)

N

(%)

N

(%)

-

(%)

-

Turnover

£322,668,754

19.2%

£270,613,252

999.9%

£12,460,885

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

£321,404,800

19.2%

£269,745,106

-

-

-

-

-

-

Gross Profit

£1,263,954

45.6%

£868,146

-

-

-

-

-

-

Wages & Salaries

£439,467

93.4%

£227,262

70.2%

£133,491

-

-

-

-

Directors Emoluments

£171,597

25.9%

£136,317

37.4%

£99,186

-

-

-

-

Operating Profit

£833,208

50.3%

£554,313

550.3%

-£123,097

-

-

-

-

Depreciation

£17,833

-13.7%

£20,671

283%

£5,397

-

-

-

-

Audit Fees

£9,000

-

£9,000

200%

£3,000

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

£712,039

15.6%

£615,928

601%

-£122,931

-

-

-

-

Taxation

-£160,768

-57.5%

-£102,062

-

-

-

-

-

-

Profit After Tax

£551,271

7.3%

£513,866

518%

-£122,931

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

£551,271

7.3%

£513,866

518%

-£122,931

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

-

(%)

-

Tangible Assets

£457,767

-2.5%

£469,580

-4.1%

£489,627

-

-

-

-

Intangible Assets

0

-

0

-

0

-

-

-

-

Total Fixed Assets

£457,767

-2.5%

£469,580

-4.1%

£489,627

-

-

-

-

Stock

0

-

0

-

0

-

-

-

-

Trade Debtors

£1,202,515

-

0

-

0

-

-

-

-

Cash

£3,762,922

201.2%

£1,249,346

208.2%

£405,358

-

-

-

-

Other Debtors

£2,938,722

46.8%

£2,001,511

572.3%

£297,714

-

-

-

-

Miscellaneous Current Assets

0

-

0

-

0

-

-

-

-

Total Current Assets

£7,904,159

143.1%

£3,250,857

362.4%

£703,072

-

-

-

-

Trade Creditors

£1,187,624

441.3%

£219,400

999.9%

£241

-

-

-

-

Bank Loans & Overdrafts

0

-

0

-

0

-

-

-

-

Other Short Term Finance

0

-

0

-

0

-

-

-

-

Miscellaneous Current Liabilities

£3,232,096

999.9%

£110,102

615.5%

£15,389

-

-

-

-

Total Current Liabilities

£4,419,720

999.9%

£329,502

999.9%

£15,630

-

-

-

-

Bank Loans & Overdrafts and LTL

0

-

0

-100%

£300,000

-

-

-

-

Other Long Term Finance

0

-

0

-100%

£300,000

-

-

-

-

Total Long Term Liabilities

0

-

0

-100%

£300,000

-

-

-

-

 

 

Capital & Reserves

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

-

(%)

-

Called Up Share Capital

£3,000,000

-

£3,000,000

200%

£1,000,000

-

-

-

-

P & L Account Reserve

£942,206

141%

£390,935

418%

-£122,931

-

-

-

-

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£3,942,206

16.3%

£3,390,935

286.6%

£877,069

-

-

-

-

 

 

Other Financial Items

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

-

(%)

-

Net Worth

£3,942,206

16.3%

£3,390,935

286.6%

£877,069

-

-

-

-

Working Capital

£3,484,439

19.3%

£2,921,355

325%

£687,442

-

-

-

-

Total Assets

£8,361,926

124.8%

£3,720,437

211.9%

£1,192,699

-

-

-

-

Total Liabilities

£4,419,720

999.9%

£329,502

4.4%

£315,630

-

-

-

-

Net Assets

£3,942,206

16.3%

£3,390,935

286.6%

£877,069

-

-

-

-

 

 

Cash Flow

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

-

(%)

-

Net Cashflow from Operations

-£308,419

66.4%

-£917,003

-129.4%

-£399,784

-

-

-

-

Net Cashflow before Financing

-£537,415

37.2%

-£856,012

4.3%

-£894,642

-

-

-

-

Net Cashflow from Financing

-

-100%

£1,700,000

30.8%

£1,300,000

-

-

-

-

Increase in Cash

-£537,415

-163.7%

£843,988

108.2%

£405,358

-

-

-

-

 

 

Miscellaneous

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

-

(%)

-

 

Contingent Liability

NO

-

NO

-

NO

-

-

-

-

Capital Employed

£3,942,206

16.3%

£3,390,935

188.1%

£1,177,069

-

-

-

-

Number of Employees

13

116.7%

6

20%

5

-

-

-

-

Auditors

ANDREW MURRAY & CO

Auditor Comments

The audit report contains no adverse comments

Bankers

Bank Branch Code

 

Ratios

 

Date Of Accounts

31/03/14

31/03/13

31/03/12

-

-

Pre-tax profit margin %

0.22

0.23

-0.99

-

-

Current ratio

1.79

9.87

44.98

-

-

Sales/Net Working Capital

92.60

92.63

18.13

-

-

Gearing %

0

0

34.20

-

-

Equity in %

47.10

91.10

73.50

-

-

Creditor Days

1.33

0.29

-

-

-

Debtor Days

1.35

-

-

-

-

Liquidity/Acid Test

1.78

9.86

44.98

-

-

Return On Capital Employed %

18.06

18.16

-10.44

-

-

Return On Total Assets Employed %

8.51

16.55

-10.30

-

-

Current Debt Ratio

1.12

0.09

0.01

-

-

Total Debt Ratio

1.12

0.09

0.35

-

-

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

18.06

18.16

-14.01

-

-

 

 

Event History

 

Date

Description

21/05/2014

New Accounts Filed

21/05/2014

New Accounts Filed

06/05/2014

Annual Returns

26/06/2013

New Accounts Filed

26/06/2013

New Accounts Filed

05/04/2013

Annual Returns

23/10/2012

Annual Returns

16/06/2012

New Accounts Filed

06/04/2012

Change in Reg.Office

06/04/2012

Change of Company Postcode

23/02/2012

Mr A. Todi has left the board

23/02/2012

New Board Member Mrs S. Gupta appointed

28/01/2012

Annual Returns

25/03/2011

New Board Member Mr A. Todi appointed

24/03/2011

New Board Member Mr S. Osmany appointed

 

 

Previous Company Names

 

No Previous Names found

 

 

Writ Details

 

No writs found

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.88

UK Pound

1

Rs.97.21

Euro

1

Rs.72.51

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIT

               

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.