MIRA INFORM REPORT

 

 

Report No. :

497116

Report Date :

10.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

BILLIONS EUROPE LTD

 

 

Registered Office :

Winder House Kingfisher Way Stockton-On-Tees Cleveland TS18 3EX

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

06.11.2014

 

 

Com. Reg. No.:

09298775

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

·         Manufacture of dyes and pigments

·         A group engaged in exposed to the risks of the global community.

 

 

No. of Employees :

12 (31.12.2016)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd 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 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

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

 

BILLIONS EUROPE LTD

 

 

Company No

 

09298775

 

 

Company Summary

 

Registered Address                  WINDER HOUSE KINGFISHER WAY
STOCKTON-ON-TEES
CLEVELAND
TS18 3EX

Trading Address                      Winder House
Kingfisher Way
Stockton-On-Tees
Cleveland
TS18 3EX

Website Address                      http://www.billionseurope.com

Telephone Number                   01642692750

Fax Number                

TPS                                          Yes

FPS                                          Yes

Incorporation Date                   06/11/2014

Previous Name

Type                                         Private limited with Share Capital

FTSE Index                              -

Date of Change             -

Filing Date of Accounts            23/06/2017

Currency                                  GBP

Share Capital                           £500,000

SIC07                                       20120

Charity Number                        -

SIC07 Description                    MANUFACTURE OF DYES AND PIGMENTS

Principal Activity                      A group engaged in exposed to the risks of the global community. Commenced trading on 06.11.14.

 

 

 

 

Additional Information

 

CCJ's                                                   0 (£0)

No CCJ Information To Display

Ultimate Holding Company                  HENAN BILLIONS CHEMICALS CO LTD

Accountant                                           -

Mortgages                                            1

Group                                                  2 companies

Linkages                                              0 companies

Countries                                             In 0 countries

 

 

Key Financials

 

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

31/12/2016        £28,338,432      -£702,600                      £180,280                                   12

31/12/2015        £24,366,985      £392,516                       £792,124                                   7

-                                   -                       -                                   -                                   -

 

 

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 Large company in respect of the rating/limit generated.

This company's return on total assets employed ratio indicates a poor or negative return on assets.

This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.

The company has more cash than short term bank borrowings.

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 -

-

 

Total Current Directors

3

Total Current Secretaries

0

Total Previous Directors / Company Secretaries

0

Total Person's With Significant Control

1

 

 

Current Directors

 

Title

Ms

Function

Director

Name

Fiona Margaret MacLeod

Nationality

British

Date of Birth

10/1961

Present Appointments

2

Latest Address

Winder House Kingfisher Way, Stockton-On-Tees, Cleveland

Appointment Date

06/11/2014

Post Code

TS18 3EX

Title

Miss

Function

Director

Name

Ran Xu

Nationality

Chinese

Date of Birth

01/1990

Present Appointments

1

Latest Address

Winder House Kingfisher Way, Stockton-On-Tees, Cleveland

Appointment Date

06/11/2014

Post Code

TS18 3EX

 

Title

Mr

Function

Director

Name

Ruiqing Tan

Nationality

Chinese

Date of Birth

10/1966

Present Appointments

1

Latest Address

Winder House Kingfisher Way, Stockton-On-Tees, Cleveland

Appointment Date

06/11/2014

Post Code

TS18 3EX

 

 

 

 

 

Current Company Secretary

 

Top Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

BILLIONS (HONG KONG) CORPORATION LIMITED

GBP

500,000

ORDINARY

1

100

 

 

financial

 

Profit & Loss

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

-

(%)

-

(%)

-

Weeks

52

(%)

60

(%)

-

(%)

-

(%)

-

Currency

GBP

(%)

GBP

(%)

-

(%)

-

(%)

-

Consolidated A/cs

Y

(%)

Y

(%)

-

(%)

-

(%)

-

Turnover

£28,338,432

16.3%

£24,366,985

-

-

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

£23,637,238

14.6%

£20,626,208

-

-

-

-

-

-

Gross Profit

£4,701,194

25.7%

£3,740,777

-

-

-

-

-

-

Wages & Salaries

£893,313

35.9%

£657,386

-

-

-

-

-

-

Directors Emoluments

£246,371

3.6%

£237,700

-

-

-

-

-

-

Operating Profit

-£440,731

-165.4%

£674,345

-

-

-

-

-

-

Depreciation

£20,086

25.4%

£16,023

-

-

-

-

-

-

Audit Fees

£8,000

-

£8,000

-

-

-

-

-

-

Interest Payments

£261,869

-7.1%

£281,829

-

-

-

-

-

-

Pre Tax Profit

-£702,600

-279%

£392,516

-

-

-

-

-

-

Taxation

£119,706

220.5%

-£99,321

-

-

-

-

-

-

Profit After Tax

-£582,894

-298.8%

£293,195

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-£582,894

-298.8%

£293,195

-

-

-

-

-

-

 

Balance Sheet

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

-

(%)

-

(%)

-

Tangible Assets

£65,571

-17.6%

£79,568

-

-

-

-

-

-

Intangible Assets

0

-

0

-

-

-

-

-

-

Total Fixed Assets

£65,571

-17.6%

£79,568

-

-

-

-

-

-

Stock

£11,273,392

95.2%

£5,774,804

-

-

-

-

-

-

Trade Debtors

£5,433,559

43.7%

£3,782,395

-

-

-

-

-

-

Cash

£584,819

-69.1%

£1,890,406

-

-

-

-

-

-

Other Debtors

£881,255

1.8%

£865,441

-

-

-

-

-

-

Miscellaneous Current Assets

0

-

0

-

-

-

-

-

-

Total Current Assets

£18,173,025

47.6%

£12,313,046

-

-

-

-

-

-

Trade Creditors

£479,434

-80.9%

£2,512,371

-

-

-

-

-

-

Bank Loans & Overdrafts

0

-

0

-

-

-

-

-

-

Other Short Term Finance

£8,125,154

429.8%

£1,533,597

-

-

-

-

-

-

Miscellaneous Current Liabilities

£1,283,402

6.2%

£1,208,265

-

-

-

-

-

-

Total Current Liabilities

£9,887,990

88.2%

£5,254,233

-

-

-

-

-

-

Bank Loans & Overdrafts and LTL

£8,170,326

28.7%

£6,346,257

-

-

-

-

-

-

Other Long Term Finance

0

-100%

£6,332,067

-

£6,332,067

-

-

-

-

Total Long Term Liabilities

£8,170,326

28.7%

£6,346,257

-

-

-

-

-

-

 

Capital & Reserves

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

-

(%)

-

(%)

-

Called Up Share Capital

£500,000

-

£500,000

-

-

-

-

-

-

P & L Account Reserve

-£319,720

-209.4%

£292,124

-

-

-

-

-

-

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£180,280

-77.2%

£792,124

-

-

-

-

-

-

 

Other Financial Items

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

-

(%)

-

(%)

-

Net Worth

£180,280

-77.2%

£792,124

-

-

-

-

-

-

Working Capital

£8,285,035

17.4%

£7,058,813

-

-

-

-

-

-

Total Assets

£18,238,596

47.2%

£12,392,614

-

-

-

-

-

-

Total Liabilities

£18,058,316

55.7%

£11,600,490

-

-

-

-

-

-

Net Assets

£180,280

-77.2%

£792,124

-

-

-

-

-

-

 

Cash Flow

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

-

(%)

-

(%)

-

Net Cashflow from Operations

-£2,712,950

54.9%

-£6,018,964

-

-

-

-

-

-

Net Cashflow before Financing

-£3,066,151

52.1%

-£6,396,384

-

-

-

-

-

-

Net Cashflow from Financing

£1,760,564

-78.8%

£8,286,790

-

-

-

-

-

-

Increase in Cash

-£1,305,587

-169.1%

£1,890,406

-

-

-

-

-

-

 

Miscellaneous

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

-

(%)

-

(%)

-

Contingent Liability

NO

-

NO

-

-

-

-

-

-

Capital Employed

£8,350,606

17%

£7,138,381

-

-

-

-

-

-

Number of Employees

12

71.4%

7

-

-

-

-

-

-

Accountants

Auditors

TAIT WALKER LLP

Auditor Comments

The audit report contains no adverse comments

Bankers

HSBC BANK PLC

Bank Branch Code

40-34-35

 

Ratios

Date Of Accounts

31/12/16

31/12/15

-

-

-

Pre-tax profit margin %

-2.48

1.61

-

-

-

Current ratio

1.84

2.34

-

-

-

Sales/Net Working Capital

3.42

3.45

-

-

-

Gearing %

4532

801.20

-

-

-

Equity in %

1

6.40

-

-

-

Creditor Days

6.15

43.30

-

-

-

Debtor Days

69.79

65.19

-

-

-

Liquidity/Acid Test

0.69

1.24

-

-

-

Return On Capital Employed %

-8.41

5.49

-

-

-

Return On Total Assets Employed %

-3.85

3.16

-

-

-

Current Debt Ratio

54.84

6.63

-

-

-

Total Debt Ratio

100.16

14.64

-

-

-

Stock Turnover Ratio %

39.78

23.69

-

-

-

Return on Net Assets Employed %

-389.72

49.55

-

-

-

 

Report Notes

There are no notes to display.

 

Status History

No Status History found

 

 

Event History

 

Date

Description

12/11/2017

Confirmation Statement

30/06/2017

New Accounts Filed

30/06/2017

New Accounts Filed

14/11/2016

Annual Returns

04/08/2016

New Accounts Filed

18/11/2015

Annual Returns

13/04/2015

Change in Reg.Office

13/04/2015

Change of Company Postcode

17/11/2014

New Board Member Ms F.M. MacLeod appointed

10/11/2014

New Board Member Ms F. MacLeod appointed

10/11/2014

New Board Member Mr R. Tan appointed

10/11/2014

New Board Member Miss R. Xu appointed

 

Previous Company Names

No Previous Names found

 

Writ Details

No writs found

 

 

Statistics

 

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

-

Ownership Status

Wholly Owned

Ultimate Holding Company

HENAN BILLIONS CHEMICALS CO LTD

 

 

Group StructureFull

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

HENAN BILLIONS CHEMICALS...

N/A

-

-

BILLIONS EUROPE LTD

09298775

31.12.2016

Y

£28,338,432

 

 

Mortgage Details

 

Mortgage Type:

Date Charge Created:

12/12/14

Date Charge Registered:

12/12/14

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

 

No Previous Director Details

Total Persons With Significant Control

1

Total Statements

0

Active

1

Active

0

Ceased

0

Ceased

0

 

 

Active Persons With Significant Control

 

Name

Mr Gang Xu

Kind

Individual Person With Significant Control

Address

Henan Billions Chemicals Co. Ltd Jiaoke Rd, Zhongzhan District, Jiaozuo, Henan Province

Country Of Residence

China

Post Code

-

Nationality

Chinese

Date of Birth

04/1963

Notified On

06/04/2016

Nature Of Control

Has significant influence or control

 

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

£61.41

Invoices available

19

Paid

19

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

17

2

0

0

0

Outstanding

0

0

0

0

0

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.07

UK Pound

1

INR 89.85

Euro

1

INR 81.06

GBP

1

INR 90.05

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

Report Prepared by :

POJ

 

 

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.