MIRA INFORM REPORT

 

 

Report No. :

319038

Report Date :

15.05.2015

 

IDENTIFICATION DETAILS

 

Name :

CEREX TRADING (UNITED KINGDOM) LIMITED

 

 

Registered Office :

23 Cleveden Gardens, Glasgow, G12 0pu

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

10.09.1984

 

 

Com. Reg. No.:

SC089607

 

 

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 :

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)

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 summary

 

Registered Address

23 Cleveden Gardens
Glasgow
G12 0pu

Trading Address

23 Cleveden Gardens
Glasgow
Lanarkshire
G12 0PU

Telephone Number

01413573017

Company Number

SC089607

TPS

No

FPS

No

Incorporation Date

10/09/1984

Type

Private limited with Share Capital

Filing Date of Accounts

22/09/2014

FTSE Index

-

Currency

GBP

Share Capital

£1,320,002

SIC07

46190

Charity Number

-

SIC07 Description

Agents involved in the Sale of a variety of Goods

Principal Activity

Wholesaler.

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/03/2014

-

-

£1,318,529

-

31/03/2013

-

-

£1,316,943

-

31/03/2012

-

-

£1,290,458

-

 

 

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.

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.

 

 

 

Current directors

 

Name

Abhishek Agrawalla

Date of Birth

21/09/1967

Officers Title

Mr

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

10/06/2008

Address

23 Cleveden Gardens, Glasgow, G12 0PU

Current company secretary

 

Name

Abhishek Agrawalla

Date of Birth

-

Officers Title

Mr

Nationality

Present Appointments

1

Function

Company Secretary

Appointment Date

10/06/2008

Address

23 Cleveden Gardens, Glasgow, G12 0PU

 

 

Top 20 shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

SHRUTI JAIN

GBP

1,120,000

PREFERENCE

1

84.85

ABHISHEK AGRAWALLA

GBP

100,000

ORDINARY

1

7.58

FOOD INVESTMENTS SA

GBP

100,000

PREFERENCE

1

7.58

MR B.P. AGRAWALLA

GBP

1

ORDINARY

1

0

AMRITASH AGRAWALLA

GBP

1

ORDINARY

1

0

 

 

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

barchart-grey

Turnover

-

-

-

-

-

-

-

-

£35,000

barchart-grey

Export

-

-

-

-

-

-

-

-

-

barchart-grey

Cost of Sales

-

-

-

-

-

-

-

-

-

barchart-grey

Gross Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Wages & Salaries

-

-

-

-

-

-

-

-

-

barchart-grey

Directors Emoluments

-

-

-

-

-

-

-

-

-

barchart-grey

Operating Profit

-

-

-

-

-

-

-

-

£20,514

barchart-grey

Depreciation

-

-

-

-

-

-

-

-

-

barchart-grey

Audit Fees

-

-

-

-

-

-

-

-

-

barchart-grey

Interest Payments

-

-

-

-

-

-

-

-

-

barchart-grey

Pre Tax Profit

-

-

-

-

-

-

-

-

£20,514

barchart-grey

Taxation

-

-

-

-

-

-

-

-

-

barchart-grey

Profit After Tax

-

-

-

-

-

-

-

-

£20,514

barchart-grey

Dividends Payable

-

-

-

-

-

-

-

-

-

barchart-grey

Retained Profit

-

-

-

-

-

-

-

-

£20,514

 

 

Balance sheet

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

barchart-grey

Tangible Assets

£33,250

-

£33,250

-

£33,250

-

£33,250

-

£33,250

barchart-grey

Intangible Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Fixed Assets

£33,250

-

£33,250

-

£33,250

-

£33,250

-

£33,250

barchart-grey

Stock

£1,211,000

-

£1,211,000

-

£1,211,000

-

£1,211,000

-

£1,211,000

barchart-grey

Trade Debtors

£188,032

8%

£174,032

25.2%

£139,032

33.6%

£104,032

50.7%

£69,032

barchart-grey

Cash

£13,086

-

£13,086

-

£13,086

-

£13,086

-

£13,086

barchart-grey

Other Debtors

0

-

0

-

0

-

0

-

0

barchart-grey

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Current Assets

£1,412,118

1%

£1,398,118

2.6%

£1,363,118

2.6%

£1,328,118

2.7%

£1,293,118

barchart-grey

Trade Creditors

0

-

0

-

0

-

0

-

0

barchart-grey

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

barchart-grey

Other Short Term Finance

0

-

0

-

0

-

0

-

0

barchart-grey

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

barchart-grey

Total Current Liabilities

0

-

0

-

0

-

0

-

0

barchart-grey

Bank Loans & Overdrafts and LTL

£126,839

10.8%

£114,425

8%

£105,910

9.6%

£96,638

12.6%

£85,791

barchart-grey

Other Long Term Finance

0

-

0

-

0

-

0

-100%

£85,791

barchart-grey

Total Long Term Liabilities

£126,839

10.8%

£114,425

8%

£105,910

9.6%

£96,638

12.6%

£85,791

Capital & Reserves

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

barchart-grey

Called Up Share Capital

£1,320,002

-

£1,320,002

-

£1,320,002

-

£1,320,002

-

£1,320,002

barchart-grey

P & L Account Reserve

-£1,473

51.8%

-£3,059

89.6%

-£29,544

46.5%

-£55,272

30.4%

-£79,425

barchart-grey

Revaluation Reserve

-

-

-

-

-

-

-

-

-

barchart-grey

Sundry Reserves

-

-

-

-

-

-

-

-

-

barchart-grey

Shareholder Funds

£1,318,529

0.1%

£1,316,943

2.1%

£1,290,458

2%

£1,264,730

1.9%

£1,240,577

 

 

Other financial items

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

barchart-grey

Net Worth

£1,318,529

0.1%

£1,316,943

2.1%

£1,290,458

2%

£1,264,730

1.9%

£1,240,577

barchart-grey

Working Capital

£1,412,118

1%

£1,398,118

2.6%

£1,363,118

2.6%

£1,328,118

2.7%

£1,293,118

barchart-grey

Total Assets

£1,445,368

1%

£1,431,368

2.5%

£1,396,368

2.6%

£1,361,368

2.6%

£1,326,368

barchart-grey

Total Liabilities

£126,839

10.8%

£114,425

8%

£105,910

9.6%

£96,638

12.6%

£85,791

barchart-grey

Net Assets

£1,318,529

0.1%

£1,316,943

2.1%

£1,290,458

2%

£1,264,730

1.9%

£1,240,577

 

 

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

barchart-grey

Capital Employed

£1,445,368

1%

£1,431,368

2.5%

£1,396,368

2.6%

£1,361,368

2.6%

£1,326,368

barchart-grey

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

Auditor Comments

The company is exempt from audit

Bankers

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/03/14

31/03/13

31/03/12

31/03/11

31/03/10

barchart-grey

Pre-tax profit margin %

-

-

-

-

58.61

barchart-grey

Current ratio

-

-

-

-

-

barchart-grey

Sales/Net Working Capital

-

-

-

-

0.03

barchart-grey

Gearing %

9.60

8.70

8.20

7.60

6.90

barchart-grey

Equity in %

91.20

92

92.40

92.90

93.50

barchart-grey

Creditor Days

-

-

-

-

-

barchart-grey

Debtor Days

-

-

-

-

717.93

barchart-grey

Liquidity/Acid Test

-

-

-

-

-

barchart-grey

Return On Capital Employed %

-

-

-

-

1.54

barchart-grey

Return On Total Assets Employed %

-

-

-

-

1.54

barchart-grey

Current Debt Ratio

-

-

-

-

-

barchart-grey

Total Debt Ratio

0.09

0.08

0.08

0.07

0.06

barchart-grey

Stock Turnover Ratio %

-

-

-

-

3460

barchart-grey

Return on Net Assets Employed %

-

-

-

-

1.65

 

 

Status History

 

No status history found

 

 

Event History

 

Date

Description

05/02/2015

Annual Returns

24/09/2014

New Accounts Filed

14/07/2014

Annual Returns

18/11/2013

New Accounts Filed

13/07/2013

Annual Returns

01/12/2012

New Accounts Filed

13/07/2012

Annual Returns

15/10/2011

New Accounts Filed

15/10/2011

New Accounts Filed

19/08/2011

Annual Returns

18/05/2011

New Accounts Filed

18/05/2011

New Accounts Filed

10/08/2010

Annual Returns

02/02/2010

New Accounts Filed

01/02/2010

New Accounts Filed

 

 

Previous company names

 

No previous names found

 

 

Writ details

 

No writs found

 

 

Summary

 

Holding Company

CEREX TRADING (UNITED KINGDOM) LIMITED

Ownership Status

Ultimately Owned

Ultimate Holding Company

CEREX TRADING (UNITED KINGDOM) LIMITED

 

 

Group structure

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

tminus CEREX TRADING (UNITED KI...

SC089607

31.03.2014

N

L MIDLINE TRADING LIMITED

SC122183

31.08.2014

N

 

Exact ccj details

 

Date

Court

Amount

Status

Case Number

Date Paid

10/02/2012

GLASGOW

£750

Satisfied

SA7328/11

11/04/2012

 

 

Previous director / company secretaries

 

Name

Current Directorships

Previous Directorships

Abhishek Agrawalla

5

3

Basudeo Prasad Agrawalla

1

4

Basudeo Prasad Agrawalla

1

4

Saroj Agrawalla

0

1

Amritash Agrawalla

0

5

Amritash Agrawalla

0

5

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.84

UK Pound

1

Rs.100.65

Euro

1

Rs.72.88

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

               

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.