MIRA INFORM REPORT

Report No. :	492330
Report Date :	16.02.2018

IDENTIFICATION DETAILS

Name :	LONDON METALS & COMMODITIES LIMITED
Registered Office :	Suite 164, 8 Shepherd Market, Mayfair, W1j 7jy
Country :	United Kingdom
Financials (as on) :	31.10.2016
Date of Incorporation :	04.05.1988
Com. Reg. No.:	02250875
Legal Form :	Private limited with Share Capital
Line of Business :	· Wholesale of metals and metal ores · Trading in physical metal for export and acting as agents for manufacturers of metals and textiles.
No. of Employees :	2

RATING & COMMENTS

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

MIRA’s Rating :

B

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

Status :	Moderate
Payment Behaviour :	Slow
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 (30.06.2017)	Current Rating (30.09.2017)
United Kingdom	A1	A1

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: LONDON METALS & COMMODITIES LIMITED

Company No: 02250875

Company Status: Active - Accounts Filed

Status Active

Active - Accounts Filed

Registered Address: SUITE 1648 SHEPHERD MARKETMAYFAIRW1J 7JY

Company Name

LONDON METALS & COMMODITIES LIMITED

Company Number

02250875

Company Summary

Registered Address SUITE 164
8 SHEPHERD MARKET
MAYFAIR
W1J 7JY

Trading Address Suite 164
8 Shepherd Market
Mayfair
London
W1J 7JY

Trading Address Suite 2, 2nd Floor, Park Towers,

2 Brick Street Mayfair London W1J7DD,

United Kingdom

Website Address http://www.londonmetals.org

Telephone Number -

Fax Number

TPS -

FPS Yes

Incorporation Date 04/05/1988

Previous Name

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 27/07/2017

Currency GBP

Share Capital £5,559,600

SIC07 46720

Charity Number -

SIC07 Description WHOLESALE OF METALS AND METAL ORES

Principal Activity Trading in physical metal for export and acting as agents for manufacturers of metals and textiles.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company BIRLA INTERNATIONAL LTD

Accountant -

Mortgages 3

Group 3 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

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

31/10/2016 £25,992,380 -£86,980 £842,834 2

31/10/2015 £32,767,404 £31,446 £929,823 2

31/10/2014 £47,394,057 £343,352 £898,391 2

Mortgage Summary

Total Mortgage 3

Outstanding 2

Satisfied 1

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

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 poor or negative return on assets.

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

The company has more cash than short term bank borrowings.

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 -	-

Back to Top

Show More

Total Current Directors	2	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	3	Total Person's With Significant Control	1

Current Directors

Title	Mr	Function	Director
Name	Balwant Singh Maru	Nationality	British
Date of Birth	07/1941	Present Appointments	1
Latest Address	211 The Quadrangle Tower Cambridge Square, London	Appointment Date	14/11/1991
Post Code	W2 2PJ
Title	Mr	Function	Director
Name	Rama Kant Rathi	Nationality	Swiss
Date of Birth	01/1941	Present Appointments	1
Latest Address	Hanibuhl 19, 6301 Zug	Appointment Date	14/11/1991
Post Code

Current Company Secretary

Title	Mr	Function	Company Secretary
Name	Bharatkumar Manilal Gadhia	Nationality
Date of Birth	-	Present Appointments	1
Latest Address	28b Collier Drive, Edgware, Middlesex	Appointment Date	28/08/2012
Post Code	HA8 5RT

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
BIRLA INTERNATIONAL LIMITED	GBP	5,559,600	ORDINARY	1	100
1

financials

Profit & Loss

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	£25,992,380	-20.7%	£32,767,404	-30.9%	£47,394,057	40.4%	£33,757,321	-18.1%	£41,229,185
	Export	£20,655,062	-26.9%	£28,251,048	-33.2%	£42,296,992	38.5%	£30,542,376	-17.1%	£36,863,491
	Cost of Sales	£25,769,482	-20.5%	£32,414,435	-30.6%	£46,736,166	41.1%	£33,113,007	-18.7%	£40,751,045
	Gross Profit	£222,898	-36.9%	£352,969	-46.3%	£657,891	2.1%	£644,314	34.8%	£478,140
	Wages & Salaries	£71,713	0%	£71,721	0%	£71,749	2%	£70,359	5.5%	£66,702
	Directors Emoluments	-	-	-	-	-	-	-	-	-
	Operating Profit	-£87,026	-377.3%	£31,378	-90.9%	£343,315	3.6%	£331,258	99.7%	£165,907
	Depreciation	£2,780	-25.8%	£3,747	38.9%	£2,698	-15%	£3,175	1%	£3,143
	Audit Fees	£7,200	-26.2%	£9,750	11.4%	£8,750	25%	£7,000	-16.7%	£8,400
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-£86,980	-376.6%	£31,446	-90.8%	£343,352	3.6%	£331,306	99.6%	£165,962
	Taxation	-£9	35.7%	-£14	-75%	-£8	20%	-£10	99.2%	-£1,184
	Profit After Tax	-£86,989	-376.8%	£31,432	-90.8%	£343,344	3.6%	£331,296	101.1%	£164,778
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-£86,989	-376.8%	£31,432	-90.8%	£343,344	3.6%	£331,296	101.1%	£164,778

Balance Sheet

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Tangible Assets	£15,754	-15%	£18,534	21.2%	£15,290	-15%	£17,988	1%	£17,807
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£15,754	-15%	£18,534	21.2%	£15,290	-15%	£17,988	1%	£17,807
	Stock	£2,084,516	47.8%	£1,410,088	-40.9%	£2,387,882	25.2%	£1,907,703	30.2%	£1,464,963
	Trade Debtors	£4,897,997	33.1%	£3,680,717	-31.8%	£5,393,946	120.1%	£2,450,144	-49.1%	£4,817,285
	Cash	£591,459	71.5%	£344,918	0.8%	£342,335	73.9%	£196,865	-64.8%	£558,874
	Other Debtors	0	-100%	£163,046	304.8%	£40,275	-63.2%	£109,384	-82.8%	£636,915
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£7,573,972	35.3%	£5,598,769	-31.4%	£8,164,438	75%	£4,664,096	-37.6%	£7,478,037
	Trade Creditors	£4,279,382	256.3%	£1,200,953	-27.8%	£1,663,741	41.3%	£1,177,159	-47.8%	£2,255,144
	Bank Loans & Overdrafts	0	-100%	£1,368,246	-61.3%	£3,539,689	284.1%	£921,508	-69.7%	£3,037,102
	Other Short Term Finance	0	-	0	-	0	-	0	-	0
	Miscellaneous Current Liabilities	0	-100%	£162,992	-18.1%	£199,030	25.4%	£158,745	34.5%	£117,996
	Total Current Liabilities	£4,279,382	56.6%	£2,732,191	-49.4%	£5,402,460	139.3%	£2,257,412	-58.3%	£5,410,242
	Bank Loans & Overdrafts and LTL	£2,467,510	-25.8%	£3,323,535	-38.7%	£5,418,566	94.1%	£2,791,133	-43%	£4,898,953
	Other Long Term Finance	£2,467,510	26.2%	£1,955,289	4.1%	£1,878,877	0.5%	£1,869,625	0.4%	£1,861,851
	Total Long Term Liabilities	£2,467,510	26.2%	£1,955,289	4.1%	£1,878,877	0.5%	£1,869,625	0.4%	£1,861,851

.

Capital & Reserves

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Called Up Share Capital	£5,559,600	-	£5,559,600	-	£5,559,600	-	£5,559,600	-	£5,559,600
	P & L Account Reserve	-£4,716,766	-1.9%	-£4,629,777	0.7%	-£4,661,209	6.9%	-£5,004,553	6.2%	-£5,335,849
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£842,834	-9.4%	£929,823	3.5%	£898,391	61.9%	£555,047	148.1%	£223,751

Other Financial Items

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Net Worth	£842,834	-9.4%	£929,823	3.5%	£898,391	61.9%	£555,047	148.1%	£223,751
	Working Capital	£3,294,590	14.9%	£2,866,578	3.8%	£2,761,978	14.8%	£2,406,684	16.4%	£2,067,795
	Total Assets	£7,589,726	35.1%	£5,617,303	-31.3%	£8,179,728	74.7%	£4,682,084	-37.5%	£7,495,844
	Total Liabilities	£6,746,892	43.9%	£4,687,480	-35.6%	£7,281,337	76.4%	£4,127,037	-43.2%	£7,272,093
	Net Assets	£842,834	-9.4%	£929,823	3.5%	£898,391	61.9%	£555,047	148.1%	£223,751

Cash Flow

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Net Cashflow from Operations	-£1,036,413	-147.5%	£2,180,963	188.2%	-£2,472,740	-240.7%	£1,756,903	97.3%	£890,298
	Net Cashflow before Financing	-£1,036,376	-147.7%	£2,174,026	187.9%	-£2,472,711	-241%	£1,753,585	98%	£885,665
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-£1,036,376	-147.7%	£2,174,026	187.9%	-£2,472,711	-241%	£1,753,585	98%	£885,665

Miscellaneous

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£3,310,344	14.7%	£2,885,112	3.9%	£2,777,268	14.5%	£2,424,672	16.3%	£2,085,602
	Number of Employees	2	-	2	-	2	-	2	-	2
	Accountants
	Auditors	R VORA & CO LTD
	Auditor Comments	The audit report contains no adverse comments
	Bankers	UNION BANCAIRE PRIVEE
	Bank Branch Code	23-19-35

Ratios

	Date Of Accounts	31/10/16	31/10/15	31/10/14	31/10/13	31/10/12
	Pre-tax profit margin %	-0.33	0.10	0.72	0.98	0.40
	Current ratio	1.77	2.05	1.51	2.07	1.38
	Sales/Net Working Capital	7.89	11.43	17.16	14.03	19.94
	Gearing %	292.80	357.40	603.10	502.90	2189.50
	Equity in %	11.10	16.60	11	11.90	3
	Creditor Days	59.92	13.34	12.77	12.69	19.90
	Debtor Days	68.59	40.88	41.42	26.41	42.53
	Liquidity/Acid Test	1.28	1.53	1.06	1.22	1.11
	Return On Capital Employed %	-2.62	1.08	12.36	13.66	7.95
	Return On Total Assets Employed %	-1.14	0.55	4.19	7.07	2.21
	Current Debt Ratio	5.07	2.93	6.01	4.06	24.17
	Total Debt Ratio	8	5.04	8.10	7.43	32.50
	Stock Turnover Ratio %	8.01	4.30	5.03	5.65	3.55
	Return on Net Assets Employed %	-10.31	3.38	38.21	59.68	74.17

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
16/12/2017	Confirmation Statement
07/08/2017	New Accounts Filed
07/08/2017	New Accounts Filed
20/12/2016	Annual Returns
02/12/2016	Payment Data Update Received
25/08/2016	Payment Data Update Received
20/08/2016	New Accounts Filed
20/08/2016	New Accounts Filed
05/01/2016	Annual Returns
02/08/2015	New Accounts Filed
19/12/2014	Annual Returns
18/01/2014	New Accounts Filed
18/01/2014	New Accounts Filed
07/12/2013	Annual Returns
26/01/2013	New Accounts Filed

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	3 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status	Wholly Owned
Ultimate Holding Company	BIRLA INTERNATIONAL LTD

Group Structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
BIRLA INTERNATIONAL LTD	N/A	-	-
LONDON METALS & COMMOD...	02250875	31.10.2016	N	£25,992,380
R T YARNS LIMITED	06881591	31.10.2016	N

Statistics

Group	3 companies
Linkages	0 companies
Countries	In 0 countries

Mortgage Details

Mortgage Type:	DEBENTURE
Date Charge Created:	31/07/00
Date Charge Registered:	08/08/00
Date Charge Satisfied:	16/06/12
Status:	SATISFIED
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY
Mortgage Type:	CASH DEPOSIT SECURITY TERMS.
Date Charge Created:	22/02/89
Date Charge Registered:	09/03/89
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BANK OF CREDIT AND COMMERCE INTERNATIONAL SOCIETE ANONYME.
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL MONIES STANDING TO THE CREDIT OF ANY DEPOSIT ACCOUNT IN THE COMPANYS NAME

Mortgage Type:	CONDITIONS FOR MULTI ACCOUNT CLIENTS.
Date Charge Created:	07/09/88
Date Charge Registered:	13/09/88
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	AMERICAN EXPRESS BANK LTD.
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL MONEYS HELD ON ACCOUNT OF THE COMPANY BY THE BANK, ALL STOCKS, SHARES, SECURITIES, BULLION, GOLD& SILVER, DIVIDENDS, BONUSES & INTEREST.

Previous Director/Company Secretaries

Name	Current Active Appointments	Previous Appointments	Dissolved Companies
Balwant Singh Maru	1	2	4
Inuganti Narendar	0	1	0
Timothy Hugh Bearman	0	1	5

Total Persons With Significant Control	1	Total Statements	0
Active	1	Active	0
Ceased	0	Ceased	0

Active Persons With Significant Control

Name	Birla International Limited	Kind	Corporate Entity With Significant Control
Address	66-67 Athol Street Athol Street, Douglas, Isle Of Man	Notified On	26/10/2016
Post Code	IM1 1JE	Legal Form	Limited Company
Authority	Companies Act 2000	Place Registered	-
Country Registered	-	Registration Number	-
Nature Of Control	Ownership Of Shares 75 To 100 Percent,Voting Rights 75 To 100 Percent,Right To Appoint And Remove Directors,Significant Influence Or Control As Firm

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.92
UK Pound	1	INR 89.55
Euro	1	INR 79.68
GBP	1	INR 90.45

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

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	SYL

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.