|
Report No. : |
324009 |
|
Report Date : |
25.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAI COMMODITIES LIMITED |
|
|
|
|
Registered Office : |
65 Delamere Road, Hayes, Middlesex, UB40NN |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.03.2007 |
|
|
|
|
Com. Reg. No.: |
06132176 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
|
|
|
|
|
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 KIGDOM - 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 |
|
SAI COMMODITIES
LIMITED |
Telephone |
02086868740 |
|
65 DELAMERE ROAD |
Fax |
- |
|
HAYES |
Website |
|
|
MIDDLESEX |
|
|
|
UB40NN |
|
|
|
United Kingdom |
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|
|
Company Number: |
06132176 |
Status: |
Active - Accounts Filed |
|
Foundation: |
01/03/2007 |
|
|
No exact match CCJs are recorded against the company. The credit limit
on this company has risen 89.7% in comparison to the previously suggested
credit limit. Sales in the latest trading period increased 25.8% on the
previous trading period. Net Worth increased by 33.2% during the latest trading
period. A 75.7% growth in Total Assets occurred during the latest trading
period. Pre-tax profits increased by 26.4% compared to the previous trading
period. The company saw an increase in their Cash Balance of 74.3% during the
latest trading period. The audit report contains no adverse comments. There has
been no significant change in the company’s credit rating. No recent changes in
directorship are recorded. The company is not part of a group. The company was
established over 7 years ago.
Legal form
Private limited with Share Capital
Foundation
01/03/2007
Company No.
06132176
Shareholders
|
Name |
Currency |
Number of shares |
Share type |
Nominal value |
|
DEEPAK LAL RUPCHANDANI |
GBP |
221,250 |
ORDINARY |
1 |
|
SUJATA RUPCHANDANI |
GBP |
73,750 |
ORDINARY |
1 |
|
Total Share Capital |
GBP 295,000 |
|||
Management
|
Directors |
||||
|
Name |
Address: |
Date of birth |
Nationality |
Appointment date |
|
Mr Deepak Lal Rupchandani |
20 Barclay Road, Croydon CR0 1JN |
07/12/1962 |
Indian |
27/09/2012 |
|
Mr Ishwar Lal Ashoka |
20 Barclay Road, Croydon CR0 1JN |
01/03/1935 |
British |
01/03/2007 |
Secretary
No Secretary appointed
Other Known
Addresses
20 Barclay Road, Croydon, Surrey CR0 1JN
65 Delamere Road, Hayes, Middlesex UB4 0NN
|
Main activity |
|
|
Principal Activity |
Commodities. Accounts data converted from US dollars. |
|
SIC03 |
Agents in sale of variety of goods |
|
SIC07 |
Agents involved in the sale of a variety of goods |
Turnover and Employees
|
Date of Accounts |
Turnover |
Employees |
|
31/12/2011 |
GBP 14,335,757 |
Not Stated |
|
31/12/2012 |
GBP 8,239,472 |
Not Stated |
|
31/12/2013 |
GBP 10,365,090 |
Not Stated |
Banks
|
Bank Name |
Bank Branch Sort
Code |
|
PUNJAB NATIONAL BANK (INTERNATIONAL) LIMITED |
60-95-00 |
Auditor
Auditor name
THE CORPORATE PRACTICE LIMITED
Events
|
Company history |
|
|
Date |
Action |
|
04/12/2009 |
New Accounts Filed |
|
09/03/2010 |
Annual Returns |
|
10/05/2011 |
New Accounts Filed |
|
10/05/2011 |
New Accounts Filed |
|
18/05/2011 |
Annual Returns |
|
23/08/2011 |
New Accounts Filed |
|
23/08/2011 |
New Accounts Filed |
|
20/03/2012 |
Annual Returns |
|
14/08/2012 |
New Accounts Filed |
|
14/08/2012 |
New Accounts Filed |
|
13/11/2012 |
New Board Member Mr D.L. Rupchandani appointed |
|
28/06/2013 |
Annual Returns |
|
03/10/2013 |
New Accounts Filed |
|
03/10/2013 |
New Accounts Filed |
|
12/04/2014 |
Annual Returns |
|
08/07/2014 |
New Accounts Filed |
|
08/07/2014 |
New Accounts Filed |
|
Mortgages |
|||
|
Charge created |
23/04/2008 |
||
|
Charge registered |
29/04/2008 |
||
|
Status |
OUTSTANDING |
||
|
Entitled person |
PUNJAB NATIONAL (INTERNATIONAL) LIMITED |
||
|
Secured amount |
US |
||
|
|
|||
|
Mortgage detail |
THE COMPANY§INTEREST BEARING DEPOSIT
ACCOUNT HELD AT PUNJAB NATIONAL BANK (INTERNATIONAL) LIMITED AND INCLUDES ANY
SUB-ACCOUNT, ANY REDESIGNATION OF THAT ACCOUNT AND ANY ACCOUNT. |
||
|
Charge created |
23/04/2008 |
||
|
Charge registered |
29/04/2008 |
||
|
Status |
OUTSTANDING |
||
|
Entitled person |
PUNJAB NATIONAL BANK (INTERNATIONAL) LIMITED |
||
|
Secured amount |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO
THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Mortgage detail |
ALL RIGHT TITLE ESTATE AND OTHER INTERESTS OF THE
COMPANY IN EACH OF THE PROPERTIES. ALL PLANT MACHINERY VEHICLES COMPUTERS AND
OTHER EQUIPMENT OF THE COMPANY BOTH PRESENT AND FUTURE AND ALL SPARE PARTS
REPLACEMENTS MODIFICATIONS AND ADDITIONS FOR THE SAME AND THE FULL BENEFIT OF
ALL WARRANTIES AND MAINTERNACE CONTRACTS FOR ANY OF THE SAME. SEE IMAGE FOR
FULL DETAILS |
||
|
Charge created |
27/03/2009 |
||
|
Charge registered |
02/04/2009 |
||
|
Status |
OUTSTANDING |
||
|
Entitled person |
PUNJAB NATIONAL BANK (INTERNATIONAL) LIMITED |
||
|
Secured amount |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO
THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Mortgage detail |
THE L/H PROPERTY K/A 184 BENSHAM MANOR ROAD THORNTON
HEATH SURREY AND GARAGE T/NOSGL41640, A FIXED CHARGE ALL RENTAL INCOME
PRESENT AND FUTURE AND THE PROCEEDS OF ANY SALE. THE FIXED PLANT MACHINERY AND
FIXTURES SEE IMAGE FOR FULL DETAILS |
||
|
Charge created |
15/02/2010 |
||
|
Charge registered |
27/02/2010 |
||
|
Status |
OUTSTANDING |
||
|
Entitled person |
THE ACCESS BANK UK LIMITED |
||
|
Secured amount |
|
||
|
|
|
||
|
Mortgage detail |
CASH DEPOSITEDON A BANK CONTROLLED DEPOSIT ACCOUNT |
|
|
|
Charge created |
27/04/2010 |
|
|
|
Charge registered |
30/04/2010 |
|
|
|
Status |
OUTSTANDING |
|
|
|
Entitled person |
THE ACCESS BANK UK LIMITED |
|
|
|
Secured amount |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO
THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE
AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE |
|
|
|
Mortgage detail |
FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND
ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL,
UNCALLED CAPITAL, PLANT AND MACHINERY, INTELLECTUAL PROPERTY. SEE IMAGE FOR
FULL DETAILS |
|
|
|
Charge created |
21/03/2013 |
|
|
|
Charge registered |
28/03/2013 |
|
|
|
Status |
OUTSTANDING |
|
|
|
Entitled person |
PUNJAB NATIONAL BANK (INTERNATIONAL) LIMITED |
|
|
|
Secured amount |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO
THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
|
|
|
Mortgage detail |
20 BARCLAY ROAD, CROYDON, SURREY, T/NO:SGL649709, ALL
RENTAL INCOME PRESENT ORFUTURE, FIXED PLANT AND MACHINERY, FIXTURES AND ALL
THE GOODWILL OF THE TRADE OR BUSINESS (IF ANY) AND BOOK
DEBTS AND ALL OTHER PROPERTY ASSETS AND RIGHTS SEE IMAGE FOR FULL
DETAILS |
|
|
County Court
Judgments (CCJs)
There are no County Court Judgments listed against this
company
Profit & Loss
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 39 GBP Group: No |
|
Turnover |
10,365,090 |
8,239,472 |
14,335,757 |
10,675,105 |
|
Export |
- |
- |
14,192,399.61 |
10,501,379.42 |
|
Cost of Sales |
10,077,001.81 |
7,996,191.72 |
14,001,011.88 |
10,340,981.84 |
|
Gross Profit |
288,088.55 |
243,280.1 |
334,745.26 |
334,122.96 |
|
Wages And Salaries |
29,795 |
31,711 |
35,651 |
5,864 |
|
Directors Emoluments |
- |
- |
- |
- |
|
Operating Profit |
158,615.54 |
121,484.47 |
137,425.63 |
106,135.71 |
|
Depreciation |
7,163.82 |
5,088.02 |
6,388.05 |
5,847.72 |
|
Audit Fees |
5,574.07 |
4,094.28 |
2,707.35 |
2,684.93 |
|
Interests Payments |
90,215.24 |
77,245.13 |
67,481.52 |
52,260.59 |
|
Pre Tax Profit |
71,071 |
56,219 |
82,392 |
60,277 |
|
Taxation |
-14,391.41 |
-10,891.38 |
-16,573.08 |
-10,475.94 |
|
Profit After Tax |
56,679.53 |
45,327.83 |
65,818.82 |
49,800.57 |
|
Dividends Payable |
0 |
0 |
0 |
0 |
|
Retained Profit |
56,679.53 |
45,327.83 |
65,818.82 |
49,800.57 |
Balance Sheet
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 39 GBP Group: No |
|
Tangible Assets |
609,528 |
155,702 |
173,425 |
159,602 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
609,528 |
155,702 |
173,425 |
159,602 |
|
Stock |
4,254 |
46,911 |
0 |
23,583 |
|
Trade Debtors |
3,379,472 |
1,849,182 |
1,547,187 |
1,476,738 |
|
Cash |
1,448,982 |
831,119 |
728,509 |
659,987 |
|
Other Debtors |
352,444 |
415,930 |
2,296 |
0 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total Current Assets |
5,185,152 |
3,143,143 |
2,277,992 |
2,160,308 |
|
Trade Creditors |
1,871,084 |
1,349,559 |
862,765 |
367,975 |
|
Bank Loans and Overdraft |
2,491,246 |
1,198,083 |
975,627 |
1,219,087 |
|
Other Short Term Finance |
19,980 |
27,477 |
8,466 |
9,448 |
|
Miscellaneous Current Liabilities |
569,457 |
377,377 |
273,913 |
452,071 |
|
Total Current Liabilities |
4,951,766 |
2,952,497 |
2,120,770 |
2,048,582 |
|
Bank Loans and Overdrafts LTL |
2,872,705 |
1,198,083 |
975,627 |
1,227,780 |
|
Other Long Term Finance |
381,459 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
381,459 |
0 |
0 |
8,693 |
Capital &
Reserves
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 39 GBP Group: No |
|
Called Up Share Capital |
295,276 |
59,003 |
64,810 |
64,273 |
|
P and L Account Reserve |
76,089 |
255,683 |
231,059 |
163,872 |
|
Revaluation Reserve |
90,089 |
31,662 |
34,778 |
34,490 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
461,455 |
346,347 |
330,648 |
262,635 |
Other Financial Items
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 39 GBP Group: No |
|
Net Worth |
461,455 |
346,347 |
330,648 |
262,635 |
|
Working Capital |
233,385 |
190,646 |
157,223 |
111,726 |
|
Total Assets |
5,794,679.76 |
3,298,844.23 |
2,451,417.28 |
2,319,909.52 |
|
Total Liabilities |
5,333,225 |
2,952,497 |
2,120,770 |
2,057,274 |
|
Net Assets |
461,455 |
346,347 |
330,648 |
262,635 |
Cash Flow
|
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
52 |
52 |
52 |
39 |
|
|
GBP |
GBP |
GBP |
GBP |
|
|
Group: No |
Group: No |
Group: No |
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 |
617,862 |
102,610 |
68,523 |
-5,255 |
Miscellaneous
|
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
52 |
52 |
52 |
39 |
|
|
GBP |
GBP |
GBP |
GBP |
|
|
Group: No |
Group: No |
Group: No |
Group: No |
|
Capital Employed |
842,913 |
346,347 |
330,648 |
271,328 |
Financial Ratios
|
Name |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Pre Tax Profit Margin |
0.69 % |
0.68 % |
0.57 % |
0.56 % |
|
Current Ration |
1.05 |
1.06 |
1.07 |
1.05 |
|
Sales or Net Working Capital |
44.41 |
43.22 |
91.18 |
95.55 |
|
Gearing |
622.53 % |
345.92 % |
295.07 % |
467.48 % |
|
Equity |
7.96 % |
10.50 % |
13.49% |
11.32% |
|
Creditor Days |
65.70 |
59.62 |
21.90 |
9.41 |
|
Debtor Days |
118.67 |
81.69 |
39.28 |
37.76 |
|
Liquidity or Acid test |
1.04 |
1.04 |
1.07 |
1.04 |
|
Return on Capital Employed |
8.43 % |
16.23 % |
24.91 % |
22.21 % |
|
Return on Total Assets Employed |
1.22 % |
1.70 % |
3.36 % |
2.59 % |
|
Current Debt Ratio |
10.73 % |
8.52 % |
6.41 % |
7.80 % |
|
Total Debt Ratio |
11.55 % |
8.52 % |
6.41 % |
7.83 % |
|
Stock Turnover Ratio |
0.04 % |
0.56 % |
0.0% |
0.22 % |
|
Return on Net Assets Employed |
15.40 % |
16.23 % |
24.91 % |
22.95 % |
Remarks
Achieving good levels of turnover and profitability. The general financial
position seems to be in order and the reduction in the profit and loss accounts
was after capitalization of reserves. Should continue to trade well for the
foreseeable future.
Trading address: 20 Barclay Road,
Croydon, Surrey CR0 1JN
Branches: None
Employees: 2 staff
Principal Activities: Global Commodity Traders
Bankers:
Punjab National Bank (International) Ltd
Access Bank UK Limited
NatWest Bank Plc
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.99.67 |
|
Euro |
1 |
Rs.70.93 |
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.