MIRA INFORM REPORT

 

 

Report No. :

349111

Report Date :

06.11.2015

 

IDENTIFICATION DETAILS

 

Name :

TOTAL COMMODITIES LIMITED

 

 

Formerly Known As :

WASTE INTERNATIONAL LIMITED

 

 

Registered Office :

Devonshire House, 582 Honeypot Lane, Stanmore, HA7 1JS

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

23.10.2007

 

 

Com. Reg. No.:

06407218

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Recovery of Sorted Materials.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Slow and Delayed

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 has been a net importer of energy since 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 6.0% in 2014.

 

In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.7% and in 2014, 2.6%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

 

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).

 

Source : CIA

 

Company summary

 

Registered Address

 

Devonshire House
582 Honeypot Lane
Stanmore
HA7 1JS

 

Trading Address

 

Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS

 

Incorporation Date

 

23/10/2007

 

FPS

No

Previous Name

 

WASTE INTERNATIONAL LIMITED

 

Type

Private limited with Share Capital

 

FTSE Index

 

--

Date of Change

 

24/01/2013

 

Filing Date of Accounts

 

22/12/2014

 

Currency

 

GBP

Share Capital

 

£99

 

SIC07

 

38320

 

SIC07 Description

 

Recovery of Sorted Materials

 

Company Number

06407218

 

 

Key financials

 

Year to Date

 

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/03/02014

-

-

-£21,035

-

31/03/02013

-

-

-£34,519

-

31/03/02012

-

-

-£32,691

-

 

 

Mortgage Summary

 

Total Mortgage                           1

Outstanding                               1

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 Small company.

The latest Balance Sheet indicates a negative net working capital position.

The negative debt/equity ratio indicates a Balance Sheet deficiency funded by creditors/debt.

This company trades in an industry with a higher level of corporate failures.

 

 

Current directors

 

Name

Jay Patel

Date of Birth

13/08/1981

Officers Title

Mr

Nationality

British

Present Appointments

9

Function

Director

Appointment Date

23/10/2007

 

 

Address

71 Cecil Avenue, Wembley, Middlesex, HA9 7DY

 

 

Name

Dipesh Patel

Date of Birth

22/01/1980

Officers Title

Mr

Nationality

British

Present Appointments

8

Function

Director

Appointment Date

23/10/2007

 

 

Address

67 Pinner Road, Northwood, Middlesex, HA6 1QN

 

 

Current company secretary

 

Name

Jay Patel

Date of Birth

13/08/1981

Officers Title

Mr

Nationality

British

Present Appointments

9

Function

Company Secretary

Appointment Date

23/10/2007

 

 

Address

71 Cecil Avenue, Wembley, Middlesex, HA9 7DY

 

 

Top 20 shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

TW HOLDINGS & INVESTMENTS LTD

GBP

99

ORDINARY

1

100

 

 

Balance sheet

 

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Tangible Assets

0

-

0

-

0

-

0

-

0

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

0

-

0

-

0

-

0

-

0

Stock

0

-

0

-

0

-

0

-

0

Trade Debtors

£24,886

559.4%

£3,774

-29.5%

£5,353

-91.5%

£62,774

-17%

£75,671

Cash

£1,296

999.9%

£36

-

£36

-25%

£48

500%

£8

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£26,182

587.2%

£3,810

-29.3%

£5,389

-91.4%

£62,822

-17%

£75,679

Trade Creditors

£47,217

23.2%

£38,329

0.7%

£38,080

-68.2%

£119,656

51.8%

£78,819

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

Total Current Liabilities

£47,217

23.2%

£38,329

0.7%

£38,080

-68.2%

£119,656

51.8%

£78,819

Bank Loans & Overdrafts and LTL

0

-

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

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Called Up Share Capital

£99

-

£99

-

£99

-

£99

-

£99

P & L Account Reserve

-£21,134

39%

-£34,618

-5.6%

-£32,790

42.4%

-£56,933

-999.9%

-£3,239

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

-£21,035

39.1%

-£34,519

-5.6%

-£32,691

42.5%

-£56,834

-999.9%

-£3,140

 

 

Other Financial Items

 

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Net Worth

-£21,035

39.1%

-£34,519

-5.6%

-£32,691

42.5%

-£56,834

-999.9%

-£3,140

Working Capital

-£21,035

39.1%

-£34,519

-5.6%

-£32,691

42.5%

-£56,834

-999.9%

-£3,140

Total Assets

£26,182

587.2%

£3,810

-29.3%

£5,389

-91.4%

£62,822

-17%

£75,679

Total Liabilities

£47,217

23.2%

£38,329

0.7%

£38,080

-68.2%

£119,656

51.8%

£78,819

Net Assets

-£21,035

39.1%

-£34,519

-5.6%

-£32,691

42.5%

-£56,834

-999.9%

-£3,140

 

 

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

Capital Employed

-£21,035

39.1%

-£34,519

-5.6%

-£32,691

42.5%

-£56,834

-999.9%

-£3,140

Number of Employees

-

-

-

-

-

-

-

-

-

 

Accountants

 

 

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

Pre-tax profit margin %

-

-

-

-

-

Current ratio

0.55

0.10

0.14

0.53

0.96

Sales/Net Working Capital

-

-

-

-

-

Gearing %

0

0

0

0

0

Equity in %

-80.30

-906

-606.60

-90.50

-4.10

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.55

0.09

0.14

0.52

0.96

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

-2.24

-1.11

-1.16

-2.10

-25.10

Total Debt Ratio

-2.24

-1.11

-1.16

-2.10

-25.10

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

27/12/2014

New Accounts Filed

07/11/2014

Annual Returns

13/12/2013

Mr S.T. Shah has left the board

16/11/2013

Annual Returns

27/05/2013

New Accounts Filed

27/05/2013

New Accounts Filed

12/04/2013

Change in Reg.Office

12/04/2013

Change of Company Postcode

02/04/2013

Annual Returns

18/02/2013

New Board Member Mr S.T. Shah appointed

28/01/2013

Change of Name

29/05/2012

Mr P. Parekh has left the board

04/02/2012

New Accounts Filed

18/11/2011

Annual Returns

08/01/2011

Annual Returns

 

 

Previous Company Names

 

Date

Previous Name

24/01/2013

WASTE INTERNATIONAL LIMITED

 

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

3 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

TW HOLDINGS & INVESTMENTS LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

TW HOLDINGS & INVESTMENTS LIMITED

 

 

Group StructureFull

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

 TW HOLDINGS & INVESTMENT...

08015723

31.03.2014

N

 

 TOTAL COMMODITIES LIMITED

06407218

31.03.2014

N

 

 TOTAL SHRED LIMITED

06408490

31.03.2014

N

 

 

 

Exact CCJ Details

 

Date

Court

Amount

Status

Case Number

Date Paid

09/08/2012

NORTHAMPTON CCBC

£237

Satisfied

2QG66657

20/12/2013

09/05/2011

WILLESDEN

£17,095

Judgment

1WI00207

-

 

 

Possible CCJs Details

 

Possible CCJ matches show CCJs that may be matched to a company based on various criteria such as similar trading names or addresses. This data is provided for your information only as an aid to decision-making.

 

There are no possible CCJ details

 

 

Mortgage Details

 

Mortgage Type:

 

Date Charge Created:

24/11/14

 

 

Date Charge Registered:

24/11/14

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

HSBC BANK PLC;

Amount Secured:

 

Details:

A FIXED AND FLOATING CHARGE OVER ALL ASSETSCONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

 

 

Previous Director/Company Secretaries

 

Name               

Current Directorships

Previous Directorships

Paresh Parekh

3

3

Sunil Trimbaklal Shah

0

1

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.67

UK Pound

1

Rs.101.02

Euro

1

Rs.71.35

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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.