MIRA INFORM REPORT

 

 

Report No. :

323262

Report Date :

22.05.2015

 

IDENTIFICATION DETAILS

 

Name :

TIV TRADING LIMITED

 

 

Registered Office :

37 Broadhurst Gardens, London, NW6 3QT

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

06.01.2006

 

 

Com. Reg. No.:

05668241

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Distribution of fabrics.

 

 

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 :

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 – 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

 

TIV TRADING LIMITED

 

 

Address

 

37 BROADHURST GARDENS

LONDON

NW6 3QT

 

 

Company No.

 

05668241

 

 

Company Status

 

Active

 

 

Company Summary

 

Registered Address      37 BROADHURST GARDENS     Trading Address         37 Broadhurst Gardens 

LONDON                                                                      London

NW6 3QT                                                                      NW6 3QT

Website Address          -

Telephone Number       -                                               Fax Number

TPS                              -                                               FPS                              No

Incorporation Date       06/01/2006

Previous Name             TIV SPAIN LIMITED                   Type                             Private limited with Share

Capital

FTSE Index                  -

Date of Change             16/11/2010                                Filing Date of Accounts 16/09/2014

Currency                      GBP                                         Share Capital               £1

SIC07                           46410                                       Charity Number            -

SIC07 Description        WHOLESALE OF TEXTILES

Principal Activity          Distribution of fabrics.

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/12/2013

£16,133,632

£79,006

£373,956

-

31/12/2012

£5,587,934

£82,488

£299,089

-

31/12/2011

£7,839,185

£259,392

£251,601

-

 

 

Mortgage Summary

 

Total Mortgage                         0

Outstanding                             0

Satisfied                                   0

 

 

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 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 made late payments on a high percentage of invoices.

This company's bank loans and overdrafts (less cash) account for a moderate percentage of short term liabilities.

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                          -           -

 

Total Current Directors                                                   2

Total Current Secretaries                                                1

Total Previous Directors / Company Secretaries              2

 

 

Current Directors

 

Name

Shraga Gutreich

Date of Birth

04/05/1950

Officers Title

 

Nationality

Israeli

Present Appointments

3

Function

Director

Appointment Date

06/01/2006

 

 

Address

4 Gliksberg Street, Tel Aviv

 

 

Name

Joseph Gutreich

Date of Birth

26/06/1945

Officers Title

Mr

Nationality

Israeli

Present Appointments

1

Function

Director

Appointment Date

06/01/2006

 

 

Address

64 Pinkas Street, Tel Aviv, 62157

 

 

 

 

Current Company Secretary

 

Name

Michelle Gutreich

Date of Birth

-

Officers Title

Ms

Nationality

Israeli

Present Appointments

1

Function

Company Secretary

Appointment Date

06/01/2006

 

 

Address

4 Gliksberg Street, Tel Aviv, 69412

 

 

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

 

 

 

 

 

 

CHUTEY TIV LTD

GBP

1

ORDINARY

1

100

 

 

Profit & Loss

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

£16,133,632

188.7%

£5,587,934

-28.7%

£7,839,185

144%

£3,212,797

711%

£396,161

Export

-

-

-

-100%

£7,839,185

-

-

-

-

Cost of Sales

£14,737,489

188.5%

£5,108,868

-30.5%

£7,351,524

144.6%

£3,005,572

802.3%

£333,090

Gross Profit

£1,396,143

191.4%

£479,066

-1.8%

£487,661

135.3%

£207,225

228.6%

£63,071

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

£355,958

28.4%

£277,285

-11.1%

£311,818

68.2%

£185,368

642%

£24,981

Depreciation

-

-

-

-

-

-

-

-

-

Audit Fees

£4,800

-

£4,800

60%

£3,000

-

£3,000

-

£3,000

Interest Payments

£357,491

239.3%

£105,359

76.4%

£59,744

248.8%

£17,129

999.9%

£916

Pre Tax Profit

£79,006

-4.2%

£82,488

-68.2%

£259,392

27.9%

£202,864

386.1%

£41,729

Taxation

-£4,139

88.2%

-£35,000

52.2%

-£73,254

-999.9%

£5,099

-

-

Profit After Tax

£74,867

57.7%

£47,488

-74.5%

£186,138

-10.5%

£207,963

398.4%

£41,729

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

£74,867

57.7%

£47,488

-74.5%

£186,138

-10.5%

£207,963

398.4%

£41,729

 

 

Balance Sheet

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Tangible Assets

0

-

0

-

0

-100%

£8,010

-

0

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

0

-

0

-

0

-100%

£8,010

-

0

Stock

£2,636,714

10.7%

£2,381,539

399.2%

£477,048

-

0

-

0

Trade Debtors

£5,239,128

8.1%

£4,845,143

200.3%

£1,613,599

999.9%

£107,603

-49.6%

£213,705

Cash

£311,860

380%

£64,977

-19.1%

£80,271

844.5%

£8,499

-75.1%

£34,083

Other Debtors

£2,848,636

999.9%

£81,088

999.9%

£631

-74.5%

£2,470

-99.1%

£264,895

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£11,036,338

49.7%

£7,372,747

239.5%

£2,171,549

999.9%

£118,572

-76.9%

£512,683

Trade Creditors

£339,089

1.4%

£334,435

970.7%

£31,235

-

0

-100%

£45,013

Bank Loans & Overdrafts

£925,869

-

0

-

0

-

0

-

0

Other Short Term Finance

£9,294,097

41.3%

£6,577,500

280.1%

£1,730,537

999.9%

£53,973

-90.7%

£581,922

Miscellaneous Current Liabilities

£103,327

-36.1%

£161,723

2.2%

£158,176

999.9%

£7,146

-74.7%

£28,248

Total Current Liabilities

£10,662,382

50.7%

£7,073,658

268.4%

£1,919,948

999.9%

£61,119

-90.7%

£655,183

Bank Loans & Overdrafts and LTL

£925,869

-

0

-

0

-

0

-

0

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

.

 

Capital & Reserves

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Called Up Share Capital

£1

-

£1

-

£1

-

£1

-

£1

P & L Account Reserve

£373,955

25%

£299,088

18.9%

£251,600

284.3%

£65,462

145.9%

-£142,501

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£373,956

25%

£299,089

18.9%

£251,601

284.3%

£65,463

145.9%

-£142,500

 

 

Other Financial Items

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Net Worth

£373,956

25%

£299,089

18.9%

£251,601

284.3%

£65,463

145.9%

-£142,500

Working Capital

£373,956

25%

£299,089

18.9%

£251,601

337.9%

£57,453

140.3%

-£142,500

Total Assets

£11,036,338

49.7%

£7,372,747

239.5%

£2,171,549

999.9%

£126,582

-75.3%

£512,683

Total Liabilities

£10,662,382

50.7%

£7,073,658

268.4%

£1,919,948

999.9%

£61,119

-90.7%

£655,183

Net Assets

£373,956

25%

£299,089

18.9%

£251,601

284.3%

£65,463

145.9%

-£142,500

 

 

Cash Flow

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

 

Miscellaneous

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£373,956

25%

£299,089

18.9%

£251,601

284.3%

£65,463

145.9%

-£142,500

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

LEVY COHEN & CO

Auditor Comments

The audit report contains no adverse comments

Bankers

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/12/13

31/12/12

31/12/11

31/12/10

31/12/09

Pre-tax profit margin %

0.49

1.48

3.31

6.31

10.53

Current ratio

1.04

1.04

1.13

1.94

0.78

Sales/Net Working Capital

43.14

18.68

31.16

55.92

-2.78

Gearing %

247.60

0

0

0

0

Equity in %

3.40

4.10

11.60

51.70

-27.80

Creditor Days

7.65

21.78

1.45

-

41.35

Debtor Days

118.20

315.61

74.92

12.19

196.35

Liquidity/Acid Test

0.78

0.70

0.88

1.94

0.78

Return On Capital Employed %

21.12

27.57

103.09

309.89

-29.28

Return On Total Assets Employed %

0.71

1.11

11.94

160.26

8.13

Current Debt Ratio

28.51

23.65

7.63

0.93

-4.59

Total Debt Ratio

28.51

23.65

7.63

0.93

-4.59

Stock Turnover Ratio %

16.34

42.61

6.08

-

-

Return on Net Assets Employed %

21.12

27.57

103.09

309.89

-29.28

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

Event History

 

Date

Description

24/02/2015

Annual Returns

24/09/2014

New Accounts Filed

24/09/2014

New Accounts Filed

10/01/2014

Annual Returns

24/09/2013

New Accounts Filed

24/09/2013

New Accounts Filed

12/01/2013

Annual Returns

22/09/2012

New Accounts Filed

22/09/2012

New Accounts Filed

01/02/2012

Annual Returns

11/08/2011

New Accounts Filed

11/08/2011

New Accounts Filed

12/01/2011

Annual Returns

18/11/2010

Change of Name

14/08/2010

New Accounts Filed

 

 

Previous Company Names

 

Date

Previous Name

16/11/2010

TIV SPAIN LIMITED

 

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

5 companies

Linkages

1 companies

Countries

In 1 countries

 

 

Summary

 

Holding Company

-

Ownership Status

Wholly Owned

Ultimate Holding Company

TIV TEXTILE GROUP (1969)

 

 

Group Structure

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

TIV TEXTILE GROUP (1969)

N/A

31.12.2013

-

€43,803,343

CHUTEY TIV LTD

N/A

-

-

 

TIV TRADING LIMITED

05668241

31.12.2013

N

£16,133,632

FLOWERS INTERNATIONAL...

N/A

-

-

 

TIV U.K. LIMITED

02955771

31.12.2013

N

£30,814

 

 

Other Linked Companies

 

Company Name

Number   

Latest Key Financials

Turnover

 

 

 

 

TIV EUROPE B.V.

34284621   

31.12.2012

€15,715,021

 

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

QA NOMINEES LIMITED

215

27181

 

 

Average Invoice Value

L1344.17

Invoices available

103

Paid

103

Outstanding

0

 

 

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

 

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

18

55

17

6

7

Outstanding

0

0

0

0

0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.70

UK Pound

1

Rs.98.92

Euro

1

Rs.70.67

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

VNT

 

               

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.