MIRA INFORM REPORT

Report No. :	486564
Report Date :	19.01.2018

IDENTIFICATION DETAILS

Name :	GANDHI ORIENTAL FOODS LIMITED
Registered Office :	First Floor Global House299-303 Ballards Lanelondonn12 8np
Country :	United Kingdom
Financials (as on) :	30.04.2016
Date of Incorporation :	09.12.1971
Com. Reg. No.:	01034090
Legal Form :	Private Limited with Share Capital
Line of Business :	Subject is engaged in wholesale and retail distributors of food stuff and provisions primarily to the asian catering establishments.
No. of Employees :	42

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

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

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 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 then CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which has continued under the new Conservative majority government. However, the deficit still remains one of the highest in the G7, standing at 4.1% of GDP as of mid-2016, and Britain has pledged to lower its corporation tax from 20% to 17% by 2020. Britain had a debt burden of 92.2% GDP at the end of 2016.

While the UK is one of the fastest growing economies in the G7, economists are concerned about the potential negative impact of the UK’s vote to leave the EU. 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.

Source : CIA

Company name and address

Company Name:

GANDHI ORIENTAL FOODS LIMITED

Company No: 01034090

Company Status: Active - Accounts Filed

Registered Address: FIRST FLOOR GLOBAL HOUSE299-303 BALLARDS LANELONDONN12 8NP

Company Summary

Registered Address FIRST FLOOR GLOBAL HOUSE
299-303 BALLARDS LANE
LONDON
N12 8NP

Trading Address First Floor Global House
299-303 Ballards Lane
London
N12 8NP

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

Telephone Number -

Fax Number

TPS -

FPS Yes

Incorporation Date 09/12/1971

Previous Name Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 31/01/2017

Currency GBP

Share Capital £250,000

SIC07 46390

Charity Number -

SIC07 Description NON-SPECIALISED WHOLESALE OF FOOD, BEVERAGES AND TOBACCO

Principal Activity The wholesale and retail distributors of food stuff and provisions primarily to the asian catering establishments.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company -

Accountant -

Mortgages 3

Group 0 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

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

30/04/2016 £17,492,273 £96,614 £6,896,374 42

30/04/2015 £17,997,803 £236,829 £7,009,037 35

30/04/2014 £20,527,029 £377,487 £6,966,351 42

Mortgage Summary

Total Mortgage 3

Outstanding 3

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 Medium company in respect of the rating/limit generated.

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 relatively efficient use of 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 -	-

Current Directors

Title	Mr	Function	Director
Name	Dinesh Mody	Nationality	British
Date of Birth	02/1955	Present Appointments	3
Latest Address	68 Church Lane, Loughton, Essex	Appointment Date	02/01/1997
Post Code	IG10 1NT
Title	Mr	Function	Director
Name	Pravin Mody	Nationality	British
Date of Birth	10/1952	Present Appointments	2
Latest Address	4 Kings Place, Loughton, Essex	Appointment Date	02/01/1997
Post Code	IG10 4PW

Title	Mr	Function	Director
Name	Kantilal Chunilal Gandhi	Nationality	British
Date of Birth	10/1938	Present Appointments	6
Latest Address	17 Deanhurst Gardens, Woodford Wells, Woodford Green, Essex	Appointment Date	22/12/1991
Post Code	IG8 0PA
Title	Ms	Function	Director
Name	Manjulaben Jayantilal Gandhi	Nationality	British
Date of Birth	07/1948	Present Appointments	1
Latest Address	High Meads 26 Hillcrest Road, Loughton, Essex	Appointment Date	22/12/1991
Post Code	IG10 4QQ

Title	Mr	Function	Director
Name	Natwarlal Chunilal Mody	Nationality	British
Date of Birth	06/1952	Present Appointments	2
Latest Address	5 Hermitage Close, London	Appointment Date	22/12/1991
Post Code	E18 2BW
Title	Mr	Function	Director
Name	Jayantilal Chunilal Gandhi	Nationality	British
Date of Birth	06/1941	Present Appointments	3
Latest Address	High Meads 26 Hillcrest Road, Loughton, Essex	Appointment Date	22/12/1991
Post Code	IG10 4QQ

Current Company Secretary

Title	Mr	Function	Company Secretary
Name	Kantilal Chunilal Gandhi	Nationality	British
Date of Birth	10/1938	Present Appointments	6
Latest Address	17 Deanhurst Gardens, Woodford Wells, Woodford Green, Essex	Appointment Date	22/12/1991
Post Code	IG8 0PA

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
NATWARLAL C. MODY	GBP	35,850	ORDINARY A	1	14.34
KANTILAL C. GANDHI	GBP	35,850	ORDINARY A	1	14.34
JAYANTILAL C. GANDHI	GBP	35,850	ORDINARY A	1	14.34
PRAVIN A. MODY	GBP	24,150	ORDINARY A	1	9.66
DINESH MODY	GBP	24,150	ORDINARY A	1	9.66
ANIL GANDHI	GBP	21,175	ORDINARY A	1	8.47
SANJAY GANDHI	GBP	18,825	ORDINARY A	1	7.53
MRS MANJULABEN J. GANDHI	GBP	12,200	ORDINARY A	1	4.88
KAUSHIK A. MODY	GBP	11,950	ORDINARY A	1	4.78
NATWARLAL C. MODY	GBP	6,650	ORDINARY	1	2.66
KANTILAL C. GANDHI	GBP	6,650	ORDINARY	1	2.66
JAYANTILAL C. GANDHI	GBP	6,650	ORDINARY	1	2.66
DINESH MODY	GBP	2,517	ORDINARY	1	1.01
PRAVIN A. MODY	GBP	2,516	ORDINARY	1	1.01
KAUSHIK A. MODY	GBP	2,217	ORDINARY	1	0.89
ANIL GANDHI	GBP	1,325	ORDINARY	1	0.53
SANJAY GANDHI	GBP	1,175	ORDINARY	1	0.47
MRS MANJULABEN J. GANDHI	GBP	300	ORDINARY	1	0.12

Financials

Profit & Loss

	Date Of Accounts	30/04/16	(%)	30/04/15	(%)	30/04/14	(%)	30/04/13	(%)	30/04/12
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	£17,492,273	-2.8%	£17,997,803	-12.3%	£20,527,029	4.9%	£19,571,516	-10.5%	£21,866,233
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	£15,400,105	-3.6%	£15,975,037	-12.3%	£18,210,848	2.8%	£17,722,302	-7.4%	£19,139,184
	Gross Profit	£2,092,168	3.4%	£2,022,766	-12.7%	£2,316,181	25.3%	£1,849,214	-32.2%	£2,727,049
	Wages & Salaries	£1,046,211	8.5%	£964,198	-3.8%	£1,002,670	10.3%	£909,212	0.5%	£904,265
	Directors Emoluments	£162,460	-1.9%	£165,524	0.1%	£165,277	2.3%	£161,524	-4%	£168,182
	Operating Profit	£92,591	-58%	£220,708	-37.8%	£354,902	427.4%	£67,290	-92.7%	£923,238
	Depreciation	£25,291	-24.5%	£33,505	-13.6%	£38,769	-18.8%	£47,761	20.2%	£39,744
	Audit Fees	£14,000	-	£14,000	-6.7%	£15,000	-	£15,000	-	£15,000
	Interest Payments	£11,731	56.6%	£7,490	623.7%	£1,035	192.4%	£354	-61.4%	£918
	Pre Tax Profit	£96,614	-59.2%	£236,829	-37.3%	£377,487	327%	£88,414	-90.6%	£941,188
	Taxation	-£19,277	74%	-£74,143	18.7%	-£91,170	-356.3%	-£19,979	91.1%	-£223,842
	Profit After Tax	£77,337	-52.5%	£162,686	-43.2%	£286,317	318.4%	£68,435	-90.5%	£717,346
	Dividends Payable	£190,000	58.3%	£120,000	-56.4%	£275,200	19.7%	£230,000	53.3%	£150,000
	Retained Profit	-£112,663	-363.9%	£42,686	284%	£11,117	106.9%	-£161,565	-128.5%	£567,346

Balance Sheet

	Date Of Accounts	30/04/16	(%)	30/04/15	(%)	30/04/14	(%)	30/04/13	(%)	30/04/12
	Tangible Assets	£5,810,307	92.8%	£3,013,875	2.8%	£2,930,504	2.3%	£2,864,160	4.2%	£2,749,540
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£5,810,307	92.8%	£3,013,875	2.8%	£2,930,504	2.3%	£2,864,160	4.2%	£2,749,540
	Stock	£2,463,470	-11.3%	£2,778,419	-1.1%	£2,810,519	-0.5%	£2,824,535	1.1%	£2,793,536
	Trade Debtors	£1,640,902	-15.6%	£1,944,550	-10.1%	£2,162,711	-9.9%	£2,401,270	-2.8%	£2,470,232
	Cash	£1,305,398	-35.4%	£2,019,319	25.6%	£1,607,989	45%	£1,109,032	-10.7%	£1,241,996
	Other Debtors	£460,540	-9.9%	£511,286	49.5%	£341,954	1%	£338,478	1%	£335,197
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£5,870,310	-19.1%	£7,253,574	4.8%	£6,923,173	3.7%	£6,673,315	-2.5%	£6,840,961
	Trade Creditors	£1,390,143	-7.9%	£1,508,789	18.8%	£1,269,821	-1.9%	£1,295,069	12.6%	£1,150,641
	Bank Loans & Overdrafts	£40,000	-	0	-100%	£11,043	-	0	-100%	£18,567
	Other Short Term Finance	£1,840,407	11.9%	£1,644,957	15.8%	£1,421,106	18.5%	£1,198,786	20%	£999,048
	Miscellaneous Current Liabilities	£51,451	-39.2%	£84,567	-54.4%	£185,356	109.7%	£88,386	-71.1%	£305,446
	Total Current Liabilities	£3,322,001	2.6%	£3,238,313	12.2%	£2,887,326	11.8%	£2,582,241	4.4%	£2,473,702
	Bank Loans & Overdrafts and LTL	£1,502,242	999.9%	£20,099	82%	£11,043	-	0	-100%	£18,567
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£1,462,242	999.9%	£20,099	-	0	-	0	-	0

.

Capital & Reserves

	Date Of Accounts	30/04/16	(%)	30/04/15	(%)	30/04/14	(%)	30/04/13	(%)	30/04/12
	Called Up Share Capital	£250,000	-	£250,000	-	£250,000	-	£250,000	-	£250,000
	P & L Account Reserve	£6,646,374	-1.7%	£6,759,037	0.6%	£6,716,351	0.2%	£6,705,234	-2.4%	£6,866,799
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£6,896,374	-1.6%	£7,009,037	0.6%	£6,966,351	0.2%	£6,955,234	-2.3%	£7,116,799

Other Financial Items

	Date Of Accounts	30/04/16	(%)	30/04/15	(%)	30/04/14	(%)	30/04/13	(%)	30/04/12
	Net Worth	£6,896,374	-1.6%	£7,009,037	0.6%	£6,966,351	0.2%	£6,955,234	-2.3%	£7,116,799
	Working Capital	£2,548,309	-36.5%	£4,015,261	-0.5%	£4,035,847	-1.3%	£4,091,074	-6.3%	£4,367,259
	Total Assets	£11,680,617	13.8%	£10,267,449	4.2%	£9,853,677	3.3%	£9,537,475	-0.6%	£9,590,501
	Total Liabilities	£4,784,243	46.8%	£3,258,412	12.9%	£2,887,326	11.8%	£2,582,241	4.4%	£2,473,702
	Net Assets	£6,896,374	-1.6%	£7,009,037	0.6%	£6,966,351	0.2%	£6,955,234	-2.3%	£7,116,799

Cash Flow

	Date Of Accounts	30/04/16	(%)	30/04/15	(%)	30/04/14	(%)	30/04/13	(%)	30/04/12
	Net Cashflow from Operations	£882,726	66.5%	£530,133	-30.8%	£766,228	107.2%	£369,875	-13.6%	£428,129
	Net Cashflow before Financing	-£2,176,702	-775.6%	£322,210	-34.4%	£491,404	663.4%	-£87,223	41.8%	-£149,936
	Net Cashflow from Financing	£1,462,781	999.9%	£100,163	999.9%	-£3,490	87.2%	-£27,174	-299.8%	£13,599
	Increase in Cash	-£713,921	-269%	£422,373	-13.4%	£487,914	526.5%	-£114,397	16.1%	-£136,337

Miscellaneous

	Date Of Accounts	30/04/16	(%)	30/04/15	(%)	30/04/14	(%)	30/04/13	(%)	30/04/12
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£8,358,616	18.9%	£7,029,136	0.9%	£6,966,351	0.2%	£6,955,234	-2.3%	£7,116,799
	Number of Employees	42	20%	35	-16.7%	42	-8.7%	46	2.2%	45
	Auditors	PITTALIS GILCHRIST LLP
	Auditor Comments	The audit report contains no adverse comments

Ratios

	Date Of Accounts	30/04/16	30/04/15	30/04/14	30/04/13	30/04/12
	Pre-tax profit margin %	0.55	1.32	1.84	0.45	4.30
	Current ratio	1.77	2.24	2.40	2.58	2.77
	Sales/Net Working Capital	6.86	4.48	5.09	4.78	5.01
	Gearing %	21.80	0.30	0.20	0	0.30
	Equity in %	59	68.30	70.70	72.90	74.20
	Creditor Days	28.92	30.51	22.51	24.08	19.15
	Debtor Days	34.14	39.32	38.35	44.65	41.12
	Liquidity/Acid Test	1.02	1.38	1.42	1.49	1.63
	Return On Capital Employed %	1.15	3.36	5.41	1.27	13.22
	Return On Total Assets Employed %	0.82	2.30	3.83	0.92	9.81
	Current Debt Ratio	0.48	0.46	0.41	0.37	0.34
	Total Debt Ratio	0.69	0.46	0.41	0.37	0.34
	Stock Turnover Ratio %	14.08	15.43	13.69	14.43	12.77
	Return on Net Assets Employed %	1.40	3.37	5.41	1.27	13.22

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
13/12/2017	Confirmation Statement
21/02/2017	Payment Data Update Received
09/02/2017	New Accounts Filed
09/02/2017	New Accounts Filed
20/01/2017	Annual Returns
11/02/2016	New Accounts Filed
11/02/2016	New Accounts Filed
13/01/2016	Annual Returns
14/02/2015	New Accounts Filed
14/02/2015	New Accounts Filed
20/01/2015	Annual Returns
08/02/2014	New Accounts Filed
08/02/2014	New Accounts Filed
20/01/2014	Annual Returns
06/02/2013	New Accounts Filed

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

Mortgage Details

Mortgage Type:
Date Charge Created:	11/12/15
Date Charge Registered:	14/12/15
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC;
Amount Secured:
Details:	640 RIPPLE ROAD, BARKING, ESSEX IG11 0SN AS REGISTERED AT HM LAND REGISTRY UNDER TITLE NUMBER EGL216939CONTAINS NEGATIVE PLEDGE.
Mortgage Type:	DEBENTURE
Date Charge Created:	07/04/99
Date Charge Registered:	16/04/99
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
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:	DEBENTURE
Date Charge Created:	27/10/94
Date Charge Registered:	04/11/94
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
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

Previous Director/Company Secretaries

Name	Current Active Appointments			Previous Appointments	Dissolved Companies
Armtlal Chunilal Mody	0			2	0
Total Persons With Significant Control		1	Total Statements			0
Active		1	Active			0
Ceased		0	Ceased			0

Active Persons With Significant Control

Name	Mr Jayantilal Chunilal Gandhi	Kind	Individual Person With Significant Control
Address	Global House 303 Ballards Lane, London	Country Of Residence	England
Post Code	N12 8NP	Nationality	British
Date of Birth	06/1941	Notified On	06/04/2016
Nature Of Control	Right to appoint and remove directors as a trustee of a trust

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	£836.11
Invoices available	27
Paid	25
Outstanding	2

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	16	2	0	1	6
Outstanding	0	0	0	0	2

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.84
UK Pound	1	INR 88.28
Euro	1	INR 77.88
GBP	1	INR 88.75

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

INFORMATION DETAILS

Analysis Done by :	NIS
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.