3decades

MIRA INFORM REPORT

Report No. :	504965
Report Date :	21.04.2018

IDENTIFICATION DETAILS

Name :	HIGH TECH TUBES LIMITED

Registered Office :	73 Park Lane Croydon Surrey Cr0 1jg

Country :	United Kingdom

Financials (as on) :	31.01.2017

Date of Incorporation :	15.03.1994

Com. Reg. No.:	02908706

Legal Form :	Private limited with Share Capital

Line of Business :	Agents specialized in the sale of other particular products.

No. of Employees :	Not Available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

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

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

United Kingdom

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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; 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 the UK’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 then CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which has continued under the Conservative government. However, the deficit still remains one of the highest in the G7, standing at 3.6% of GDP as of 2017, and the UK has pledged to lower its corporation tax from 20% to 17% by 2020. The UK had a debt burden of 90.4% GDP at the end of 2017.

The UK’s economy has begun to slow since the referendum vote to leave the EU in June 2016. A sustained depreciation of the British pound has increased consumer and producer prices, weighing on consumer spending without spurring a meaningful increase in exports. The UK has an extensive trade relationship with other EU members through its single market membership and economic observers have warned the exit will jeopardize its position as the central location for European financial services. Prime Minister MAY is seeking a new “deep and special” trade relationship with the EU following the UK’s exit. However, economists doubt that the UK will be able to preserve the benefits of EU membership without the obligations.

Source : CIA

Company name and address

Company Name : HIGH TECH TUBES LIMITED

Company No : 02908706

Company Status : Active - Accounts Filed

Registered Address : 73 PARK LANECROYDONSURREYCR0 1JG

Company Summary

Registered Address 73 PARK LANE
CROYDON
SURREY
CR0 1JG

Trading Address 73 Park Lane
Croydon
Surrey
CR0 1JG

Website Address http://www.hightechtubes.co.uk

Telephone Number -

Fax Number

TPS -

FPS Yes

Incorporation Date 15/03/1994

Previous Name

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 31/10/2017

Currency GBP

Share Capital £17,600

SIC07 46180

Charity Number -

SIC07 Description AGENTS SPECIALIZED IN THE SALE OF OTHER PARTICULAR PRODUCTS

Principal Activity Special trades.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company -

Accountant -

Mortgages 0

Group 0 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder's Funds Employees

31/01/2017 - - £218,220 -

31/01/2016 - - £346,194 -

31/01/2015 - - £294,496 -

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 Small company in respect of the rating/limit generated.

This company has made late payments on a medium percentage of invoices.

The latest Balance Sheet indicates a very positive net working capital position.

The latest cash balances are considered to be low in terms of the overall outstanding creditor obligations.

This company trades in an industry with a moderate 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 -	-

Current Directors

Title	Mr	Function	Director
Name	John Horgan	Nationality	Irish
Date of Birth	07/1940	Present Appointments	1
Latest Address	Knockanish East Spa, Tralee, County Kerry	Appointment Date	05/05/1994
Post Code
Title	Mr	Function	Director
Name	Patrick Joseph Mc Crohan	Nationality	Irish
Date of Birth	10/1936	Present Appointments	1
Latest Address	Doon, Tralee, Kerry	Appointment Date	05/05/1994
Post Code

Title	Mr	Function	Director
Name	David Clifford	Nationality	Irish
Date of Birth	09/1981	Present Appointments	1
Latest Address	73 Park Lane, Croydon, Surrey	Appointment Date	21/05/2015
Post Code	CR0 1JG

Current Company Secretary

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
DAVID CLIFFORD	GBP	7,248	ORDINARY	1	41.18
JOHN HOGAN	GBP	5,176	ORDINARY	1	29.41
PATRICK JOSEPH MCCROHAN	GBP	5,176	ORDINARY	1	29.41

Financial

Profit & Loss

Date Of Accounts	31/01/17	(%)	31/01/16	(%)	31/01/15	(%)	31/01/14	(%)	31/01/13
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	-	-	-	-	-	-	-	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-	-	-
Depreciation	-	-	£984	-	£984	-	£984	-	£984
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/01/17	(%)	31/01/16	(%)	31/01/15	(%)	31/01/14	(%)	31/01/13
Tangible Assets	£80,189	-1.2%	£81,174	-1.2%	£82,158	-1.2%	£83,142	-1.2%	£84,126
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£80,189	-1.2%	£81,174	-1.2%	£82,158	-1.2%	£83,142	-1.2%	£84,126
Stock	0	-	0	-	0	-100%	£2,170	-95.9%	£53,187
Trade Debtors	£235,268	999.9%	£10,966	-61.2%	£28,250	-67%	£85,728	-65.6%	£249,333
Cash	0	-100%	£270,865	-2.5%	£277,805	22.9%	£225,981	15.8%	£195,104
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£235,268	-16.5%	£281,831	-7.9%	£306,055	-2.5%	£313,879	-36.9%	£497,624
Trade Creditors	£94,237	460.6%	£16,811	-82.1%	£93,717	-10.9%	£105,137	-63.8%	£290,656
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	£94,237	460.6%	£16,811	-82.1%	£93,717	-10.9%	£105,137	-63.8%	£290,656
Bank Loans & Overdrafts and LTL	£3,000	-	0	-	0	-	0	-	0
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£3,000	-	0	-	0	-	0	-	0

Capital & Reserves

Date Of Accounts	31/01/17	(%)	31/01/16	(%)	31/01/15	(%)	31/01/14	(%)	31/01/13
Called Up Share Capital	-	-100%	£20,000	-	£20,000	-	£20,000	-	£20,000
P & L Account Reserve	£218,220	-33.1%	£326,194	18.8%	£274,496	1%	£271,884	0.3%	£271,094
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£218,220	-37%	£346,194	17.6%	£294,496	0.9%	£291,884	0.3%	£291,094

Other Financial Items

Date Of Accounts	31/01/17	(%)	31/01/16	(%)	31/01/15	(%)	31/01/14	(%)	31/01/13
Net Worth	£218,220	-37%	£346,194	17.6%	£294,496	0.9%	£291,884	0.3%	£291,094
Working Capital	£141,031	-46.8%	£265,020	24.8%	£212,338	1.7%	£208,742	0.9%	£206,968
Total Assets	£315,457	-13.1%	£363,005	-6.5%	£388,213	-2.2%	£397,021	-31.8%	£581,750
Total Liabilities	£97,237	478.4%	£16,811	-82.1%	£93,717	-10.9%	£105,137	-63.8%	£290,656
Net Assets	£218,220	-37%	£346,194	17.6%	£294,496	0.9%	£291,884	0.3%	£291,094

Cash Flow

Date Of Accounts	31/01/17	(%)	31/01/16	(%)	31/01/15	(%)	31/01/14	(%)	31/01/13
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/01/17	(%)	31/01/16	(%)	31/01/15	(%)	31/01/14	(%)	31/01/13
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£221,220	-36.1%	£346,194	17.6%	£294,496	0.9%	£291,884	0.3%	£291,094
Number of Employees	-	-	-	-	-	-	-	-	-
Accountants
Auditors
Auditor Comments	The company is exempt from audit
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/01/17	31/01/16	31/01/15	31/01/14	31/01/13
Pre-tax profit margin %	-	-	-	-	-
Current ratio	2.50	16.76	3.27	2.99	1.71
Sales/Net Working Capital	-	-	-	-	-
Gearing %	1.40	0	0	0	0
Equity in %	69.20	95.40	75.90	73.50	50
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	2.49	16.76	3.26	2.96	1.52
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	0.43	0.04	0.31	0.36	0.99
Total Debt Ratio	0.44	0.04	0.31	0.36	0.99
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

Report Notes

There are no notes to display.

Status History

Date	Description
30/06/2017	Compulsory strike off cancelled
01/06/2017	Dissolution (First Gazt)

*Event History

Date	Description
15/04/2018	Confirmation Statement
03/11/2017	New Accounts Filed
30/06/2017	Confirmation Statement
29/06/2017	Mr N. Clifford has left the board
29/06/2017	Mr S. Power has left the board
29/06/2017	Mr J.M. Whiteley has left the board
29/06/2017	Mr J.M. Whiteley has resigned as company secretary
29/06/2017	New Board Member Mr D. Clifford appointed
03/11/2016	New Accounts Filed
27/03/2016	Annual Returns
28/10/2015	New Accounts Filed
01/05/2015	Annual Returns
30/04/2014	New Accounts Filed
30/04/2014	New Accounts Filed
14/03/2014	Annual Returns

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group StructureFull

No Group Structure

Previous Director/Company Secretaries

Name	Current Active Appointments			Previous Appointments	Dissolved Companies
Michael Patrick John Kelly	0			3	0
Michael Patrick John Kelly	0			3	0
James Melville Whiteley	0			2	0
James Melville Whiteley	0			2	0
Sean Power	0			1	0
Noel Clifford	0			1	0
Howard Thomas	1			5165	13860
Total Persons With Significant Control		1	Total Statements			0
Active		1	Active			0
Ceased		0	Ceased			0

Active Persons With Significant Control

Name	Mr David Clifford	Kind	Individual Person With Significant Control
Address	73 Park Lane, Croydon, Surrey	Country Of Residence	Ireland
Post Code	CR0 1JG	Nationality	Irish
Date of Birth	09/1981	Notified On	06/04/2016
Nature Of Control	Ownership of shares - between 25% and 50%

Ceased Persons With Significant Control

No Ceased Persons With Significant Control To Display

Active Statements

No Active Statements To Display

Ceased Statements

No Ceased Statements To Display
Average Invoice Value	£69.88
Invoices available	17
Paid	17
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	7	5	4	0	1
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.01
UK Pound	1	INR 92.72
Euro	1	INR 81.45
GBP	1	INR 92.71

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRI

Report Prepared by :	DNS

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.