MIRA INFORM REPORT

 

 

Report No. :

343446

Report Date :

02.10.2015

 

IDENTIFICATION DETAILS

 

Name :

LONGULF TRADING (UK) LIMITED

 

 

Formerly Known As :

PEBBLEPAR LIMITED

 

 

Registered Office :

Prince Albert House, 2 Kingsmill Terrace, London, Nw8 6bn

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

19.11.1976

 

 

Com. Reg. No.:

01287237

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Agents involved in the sale of a variety of goods

 

 

No. of Employees :

41

 

 

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 – 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

 

Prince Albert House
2 Kingsmill Terrace
London
Nw8 6bn

Trading Address

 

Prince Albert House
2 Kingsmill Terrace
London
NW8 6BN

 

Website Address

 

http://www.longulf.com

 

Telephone Number

 

02077227733

 

TPS

 

No

FPS

No

Incorporation Date

 

19/11/1976

 

Company Number

 

01287237

Previous Name

 

PEBBLEPAR LIMITED

 

Type

 

Private limited with Share Capital

 

Date of Change

 

31/12/1977

 

Filing Date of Accounts

 

29/07/2015

 

Currency

 

GBP

 

Share Capital

 

£2,000

 

SIC07

 

46190

 

Charity Number

 

--

SIC07 Description

 

Agents involved in the sale of a variety of goods

 

Principal Activity

 

An agent for the general exporting and importing of merchandise.

 

 

 

Key financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

 

31/12/2014

£38,694,784

£330,534

 

£2,984,982

 

41

31/12/2013

£38,111,943

£286,705

 

£2,729,219

 

41

31/12/2012

£41,100,420

£316,164

 

£2,505,301

 

40

 

 

Mortgage Summary

 

Total Mortgage              1

Outstanding                  0

Satisfied                       1


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.

This company's ratio of total liabilities to total assets indicates the presence of strong 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.

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.

 

 

Current directors

 

Name

Neil Derek Marsden

Date of Birth

29/03/1950

Officers Title

Mr

Nationality

British

Present Appointments

11

Function

Director

Appointment Date

03/09/2008

Address

30 Swan Close, Rickmansworth, Hertfordshire, WD3 1SB

 

Name

Hassan El Bastawisi El Kasar

Date of Birth

19/03/1943

Officers Title

Mr

Nationality

Egyptian

Present Appointments

21

Function

Director

Appointment Date

03/07/1992

Address

36 Wellington Court, Wellington Road St Johns Wood, London, NW8

 

Name

Panayiotes Savvas Pieri

Date of Birth

27/04/1956

Officers Title

Nationality

British

Present Appointments

9

Function

Director

Appointment Date

03/09/2008

Address

12d Ellington Road, Muswell Hill, London, N10 3DG

 

Name

Dirhem Abdo Saeed

Date of Birth

21/07/1952

Officers Title

Mr

Nationality

British

Present Appointments

22

Function

Director

Appointment Date

03/07/1992

Address

1 Ferncroft Avenue, Hampstead, London, NW3 7PG

 

Current company secretary

 

Name

GRAYS INN SECRETARIES LIMITED

Date of Birth

-

Officers Title

Nationality

British

Present Appointments

79

Function

Company Secretary

Appointment Date

03/07/1992

Address

One Fleet Place, London, EC4M 7WS

 

 

Top 20 shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

LONGULF LTD

GBP

1,000

ORDINARY

1

50

LONGULF LTD

GBP

1,000

DEFERRED

1

50

 

 

Profit & loss

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

barchart-grey

Turnover

£38,694,784

1.5%

£38,111,943

-7.3%

£41,100,420

43%

£28,738,518

-28.4%

£40,148,154

barchart-grey

Export

£38,475,146

1.5%

£37,897,570

-7.3%

£40,864,057

43.4%

£28,499,815

-28.6%

£39,904,484

barchart-grey

Cost of Sales

£34,920,977

1.3%

£34,485,656

-8.4%

£37,641,611

47.4%

£25,542,352

-30.7%

£36,834,807

barchart-grey

Gross Profit

£3,773,807

4.1%

£3,626,287

4.8%

£3,458,809

8.2%

£3,196,166

-3.5%

£3,313,347

barchart-grey

Wages & Salaries

£2,270,904

2%

£2,227,217

5.8%

£2,105,315

0.2%

£2,101,818

-0.6%

£2,113,512

barchart-grey

Directors Emoluments

£396,220

1.5%

£390,345

-1%

£394,160

-0.3%

£395,455

1.4%

£390,021

barchart-grey

Operating Profit

£330,998

15%

£287,753

-9.2%

£316,946

27.8%

£247,995

-20%

£310,139

barchart-grey

Depreciation

£93,890

19.1%

£78,860

-8.8%

£86,452

51.9%

£56,932

-36.7%

£89,951

barchart-grey

Audit Fees

£28,906

26.7%

£22,821

0%

£22,828

4.4%

£21,871

-5.1%

£23,040

barchart-grey

Interest Payments

£519

-50.5%

£1,048

34%

£782

71.9%

£455

117.7%

£209

barchart-grey

Pre Tax Profit

£330,534

15.3%

£286,705

-9.3%

£316,164

27.7%

£247,540

-20.1%

£309,930

barchart-grey

Taxation

-£74,771

-19.1%

-£62,787

3.8%

-£65,285

-8%

-£60,452

32.9%

-£90,081

barchart-grey

Profit After Tax

£255,763

14.2%

£223,918

-10.7%

£250,879

34.1%

£187,088

-14.9%

£219,849

barchart-grey

Dividends Payable

-

-

-

-

-

-

-

-

-

barchart-grey

Retained Profit

£255,763

14.2%

£223,918

-10.7%

£250,879

34.1%

£187,088

-14.9%

£219,849

 

 

Balance sheet

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

barchart-grey

Tangible Assets

£313,147

-13.3%

£361,180

1.8%

£354,755

-19%

£437,836

466%

£77,360

barchart-grey

Intangible Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Fixed Assets

£313,147

-13.3%

£361,180

1.8%

£354,755

-19%

£437,836

466%

£77,360

barchart-grey

Stock

0

-

0

-

0

-

0

-

0

barchart-grey

Trade Debtors

0

-

0

-

0

-

0

-

0

barchart-grey

Cash

£24,609

-9.3%

£27,139

7.4%

£25,273

-21.1%

£32,024

41.2%

£22,679

barchart-grey

Other Debtors

£3,289,301

-12.4%

£3,752,882

16.8%

£3,213,062

-39.8%

£5,341,492

-23.7%

£6,998,694

barchart-grey

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Current Assets

£3,313,910

-12.3%

£3,780,021

16.7%

£3,238,335

-39.7%

£5,373,516

-23.5%

£7,021,373

barchart-grey

Trade Creditors

£51,875

-8.1%

£56,427

40.1%

£40,270

-53.5%

£86,600

149.3%

£34,738

barchart-grey

Bank Loans & Overdrafts

£169,557

-67.3%

£519,074

148.5%

£208,894

-91.8%

£2,555,477

-33.8%

£3,859,524

barchart-grey

Other Short Term Finance

£228,812

7.2%

£213,436

-0.3%

£214,088

-28.2%

£298,363

-31.3%

£434,574

barchart-grey

Miscellaneous Current Liabilities

£191,831

10.9%

£173,045

-0.9%

£174,537

4.8%

£166,490

-34.1%

£252,563

barchart-grey

Total Current Liabilities

£642,075

-33.3%

£961,982

50.8%

£637,789

-79.5%

£3,106,930

-32.2%

£4,581,399

barchart-grey

Bank Loans & Overdrafts and LTL

£169,557

-82.5%

£969,074

47.1%

£658,894

-78.1%

£3,005,477

-30.3%

£4,309,524

barchart-grey

Other Long Term Finance

0

-100%

£450,000

-

£450,000

-

£450,000

-

£450,000

barchart-grey

Total Long Term Liabilities

0

-100%

£450,000

-

£450,000

-

£450,000

-

£450,000

 

 

Capital & reserves

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

barchart-grey

Called Up Share Capital

£2,000

-

£2,000

-

£2,000

-

£2,000

-

£2,000

barchart-grey

P & L Account Reserve

£2,982,982

9.4%

£2,727,219

8.9%

£2,503,301

11.1%

£2,252,422

9.1%

£2,065,334

barchart-grey

Revaluation Reserve

-

-

-

-

-

-

-

-

-

barchart-grey

Sundry Reserves

-

-

-

-

-

-

-

-

-

barchart-grey

Shareholder Funds

£2,984,982

9.4%

£2,729,219

8.9%

£2,505,301

11.1%

£2,254,422

9%

£2,067,334

 

 

Other financials items

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

barchart-grey

Net Worth

£2,984,982

9.4%

£2,729,219

8.9%

£2,505,301

11.1%

£2,254,422

9%

£2,067,334

barchart-grey

Working Capital

£2,671,835

-5.2%

£2,818,039

8.4%

£2,600,546

14.7%

£2,266,586

-7.1%

£2,439,974

barchart-grey

Total Assets

£3,627,057

-12.4%

£4,141,201

15.3%

£3,593,090

-38.2%

£5,811,352

-18.1%

£7,098,733

barchart-grey

Total Liabilities

£642,075

-54.5%

£1,411,982

29.8%

£1,087,789

-69.4%

£3,556,930

-29.3%

£5,031,399

barchart-grey

Net Assets

£2,984,982

9.4%

£2,729,219

8.9%

£2,505,301

11.1%

£2,254,422

9%

£2,067,334

 

 

Miscellaneous

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

barchart-grey

Capital Employed

£2,984,982

-6.1%

£3,179,219

7.6%

£2,955,301

9.3%

£2,704,422

7.4%

£2,517,334

barchart-grey

Number of Employees

41

-

41

2.5%

40

5.3%

38

-7.3%

41

Accountants

Auditors

GRANT THORNTON UK LLP

Auditor Comments

The audit report contains no adverse comments

Bankers

BARCLAYS BANK PLC

Bank Branch Code

20-55-34

 

 

Ratios

 

Date Of Accounts

31/12/14

31/12/13

31/12/12

31/12/11

31/12/10

barchart-grey

Pre-tax profit margin %

0.85

0.75

0.77

0.86

0.77

barchart-grey

Current ratio

5.16

3.93

5.08

1.73

1.53

barchart-grey

Sales/Net Working Capital

14.48

13.52

15.80

12.68

16.45

barchart-grey

Gearing %

5.70

35.50

26.30

133.30

208.50

barchart-grey

Equity in %

82.30

65.90

69.70

38.80

29.10

barchart-grey

Creditor Days

0.48

0.53

0.35

1.09

0.31

barchart-grey

Debtor Days

-

-

-

-

-

barchart-grey

Liquidity/Acid Test

5.16

3.92

5.07

1.72

1.53

barchart-grey

Return On Capital Employed %

11.07

9.01

10.69

9.15

12.31

barchart-grey

Return On Total Assets Employed %

9.11

6.92

8.79

4.25

4.36

barchart-grey

Current Debt Ratio

0.21

0.35

0.25

1.37

2.21

barchart-grey

Total Debt Ratio

0.21

0.51

0.43

1.57

2.43

barchart-grey

Stock Turnover Ratio %

-

-

-

-

-

barchart-grey

Return on Net Assets Employed %

11.07

10.50

12.61

10.98

14.99

 

 

Report notes

 

There are no notes to display.

 

 

Status history

 

No status history found

 

 

Event history

 

Date

Description

08/08/2015

New Accounts Filed

04/08/2015

Annual Returns

01/08/2014

Annual Returns

02/06/2014

New Accounts Filed

26/07/2013

Annual Returns

26/04/2013

New Accounts Filed

28/07/2012

Annual Returns

05/07/2012

New Accounts Filed

05/07/2012

New Accounts Filed

23/07/2011

Annual Returns

11/04/2011

New Accounts Filed

11/04/2011

New Accounts Filed

30/09/2010

New Accounts Filed

30/09/2010

New Accounts Filed

23/07/2010

Annual Returns

 

Previous company names

 

Date

Previous Name

31/12/1977

PEBBLEPAR LIMITED

 

 

Writ details

 

No writs found

 

 

Summary

 

Holding Company

LONGULF LIMITED

Ownership Status

INTERMEDIATELY OWNED

Ultimate Holding Company

CAPITAL HOUSE INVESTMENTS LTD

 

 

Mortgage details

 

Mortgage Type:

CHARGE

Date Charge Created:

20/12/02

Date Charge Registered:

10/01/03

Date Charge Satisfied:

19/07/10

Status:

SATISFIED

Person(s) Entitled:

CREDIT AGRICOLE INDOSUEZ

Amount Secured:

Details:

ALL DOCUMENTS OF TITLE AND/OR NEGOTIABLE INSTRUMENTS INCLUDING, BUT NOT LIMITEDTO BILLS OF EXCHANGEDRAWN ON AND/OR ACCEPTED BY THE BANK OR THIRD PARTIES, BILLS OF LADING, SHIPPING DOCUMENTS, WAREHOUSE WARRANTS OR RECEIPTS, DELIVERY ORDERS OR OTHER WAREHOUSE KEEPER\S CERTIFICATES RECEIPTS AND ALL GOODS THEREBY REPRESENTED INCLUDING ALL POLICIES AND CERTIFICATES OF INSURANCE, WHICH AARE NOW OR MAYAT ANY TIME BE IN THE BANK\S POSSESSION.

 

 

Previous director / company secretaries

 

Name

Current Directorships

Previous Directorships

Abdul Gabbar Hayel Saeed

0

5

Ibrahim Hayel Saeed

0

4

Abdulla Abdo Saeed

0

7

John Alexander Ross Cook

9

11

Steven Roderic Beharrell

5

18

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.55

UK Pound

1

Rs.99.17

Euro

1

Rs.73.08

 

 

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.