MIRA INFORM REPORT

 

 

Report No. :

496993

Report Date :

10.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

INTERNATIONAL TRADING TEAM LIMITED

 

 

Registered Office :

Northside House 69 Tweedy Roadbromleykentbr1 3wa

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

02.01.2008

 

 

Com. Reg. No.:

06461818

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Subject is engaged in wholesale of textiles.

 

 

No. of Employees :

4

 

 

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 and address

 

Company Name:                                   INTERNATIONAL TRADING TEAM LIMITED

Company No:                                        06461818

Company Status:                                  Active - Accounts Filed

 

Registered Address:                              NORTHSIDE HOUSE 69 TWEEDY ROADBROMLEYKENTBR1 3WA

 

 

Company Summary

 

Registered Address      NORTHSIDE HOUSE 69 TWEEDY ROAD
BROMLEY
KENT
BR1 3WA

 

Trading Address          Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA

 

Website Address                                  -

 

Telephone Number                               –

 

Fax Number

 

TPS                                                      -

 

FPS                                                      Yes

 

Incorporation Date                               02/01/2008

 

Previous Name

 

Type                                                     Private limited with Share Capital

 

FTSE Index                                          -

 

Date of Change                         -

 

Filing Date of Accounts                        25/09/2017

 

Currency                                              USD

 

Share Capital                                       £240,000

 

SIC07                                                   46410

 

Charity Number                                    -

 

SIC07 Description                                WHOLESALE OF TEXTILES

 

Principal Activity                                  Accounts data converted from US Dollar.

 

 

Additional Information

 

CCJ's                                                   0 (£0)

 

No CCJ Information To Display

Ultimate Holding Company                  -

 

Accountant                                           HAINES WATTS

 

Mortgages                                            4

 

Group                                                  0 companies

 

Linkages                                              0 companies

 

Countries                                             In 0 countries

 

 

Key Financials

 

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

31/12/2016        -                       -                                   £596,419                       4

31/12/2015        -                       -                                   £533,463                       5

31/12/2014        -                       -                                   £479,684                       -

 

 

Mortgage Summary

 

Total Mortgage             4

Outstanding                 3

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 Small company in respect of the rating/limit generated.

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

There has been an increase in shareholders funds compared with the previous balance sheet.

This company trades in an industry with a moderate level of corporate failures.

 

 

CCJ

 

Total Number of Exact CCJs -

0

Total Number of Possible CCJs -

0

Total Number of Satisfied CCJs -

0

Total Number of Writs -

-

 

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

5

Total Person's With Significant Control

3

 

 

Current Directors

 

Title

Mr

Function

Director

Name

Ahmet Oguz Durgun

Nationality

British

Date of Birth

08/1962

Present Appointments

1

Latest Address

1 Blandford Close, London

Appointment Date

01/08/2008

Post Code

N2 0DH

Title

Mr

Function

Director

Name

Sevan Mutafyan

Nationality

British

Date of Birth

06/1948

Present Appointments

1

Latest Address

Flat 46 William Hunt Mansions 4 Somerville Avenue, Barnes, London

Appointment Date

01/03/2017

Post Code

SW13 8HT

 

 

Current Company Secretary

 

Title

Mr

Function

Company Secretary

Name

Murat Aksin

Nationality

Date of Birth

-

Present Appointments

1

Latest Address

Northside House 69 Tweedy Road, Bromley, Kent

Appointment Date

22/06/2016

Post Code

BR1 3WA

 

 

Top Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

EMINE BAYINDIR DURGUN

USD

80,000

ORDINARY

1

33.33

AYSEN SENIHA MUTAFYAN

USD

80,000

ORDINARY

1

33.33

EMEL TUNCAY

USD

80,000

ORDINARY

1

33.33

 

 

Profit & Loss

 

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

31/12/14

(%)

31/12/13

(%)

31/12/12

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

£858

75.8%

£488

-57.6%

£1,152

-12.9%

£1,324

-25.5%

£1,777

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

31/12/14

(%)

31/12/13

(%)

31/12/12

Tangible Assets

£1,228

25.7%

£977

-

0

-100%

£988

-54.2%

£2,155

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£1,228

25.7%

£977

-

0

-100%

£988

-54.2%

£2,155

Stock

£998,322

24.4%

£802,579

88.5%

£425,801

-

0

-100%

£307,134

Trade Debtors

£2,245,030

62.3%

£1,383,297

62%

£853,726

-27.3%

£1,174,602

192.1%

£402,073

Cash

£69,819

14.3%

£61,109

-51.8%

£126,870

-40.2%

£212,185

108.7%

£101,652

Other Debtors

£95,407

94.2%

£49,124

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£3,408,579

48.5%

£2,296,109

63.3%

£1,406,397

1.4%

£1,386,786

71%

£810,859

Trade Creditors

£688,426

46.6%

£469,539

-49.3%

£926,712

-4.6%

£971,363

135.1%

£413,186

Bank Loans & Overdrafts

£2,091,954

70.8%

£1,224,821

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

£33,008

-52.3%

£69,263

-

0

-

0

-

0

Total Current Liabilities

£2,813,388

59.5%

£1,763,623

90.3%

£926,712

-4.6%

£971,363

135.1%

£413,186

Bank Loans & Overdrafts and LTL

£2,091,954

70.8%

£1,224,821

-

0

-

0

-

0

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

.

Capital & Reserves

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

31/12/14

(%)

31/12/13

(%)

31/12/12

Called Up Share Capital

£186,249

-

£186,249

0.8%

£184,743

16.6%

£158,447

7.2%

£147,747

P & L Account Reserve

£410,170

18.1%

£347,215

17.7%

£294,941

14.3%

£257,964

2.3%

£252,082

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£596,419

11.8%

£533,463

11.2%

£479,684

15.2%

£416,411

4.1%

£399,829

 

Other Financial Items

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

31/12/14

(%)

31/12/13

(%)

31/12/12

Net Worth

£596,419

11.8%

£533,463

11.2%

£479,684

15.2%

£416,411

4.1%

£399,829

Working Capital

£595,191

11.8%

£532,486

11%

£479,684

15.5%

£415,424

4.5%

£397,674

Total Assets

£3,409,807

48.4%

£2,297,086

63.3%

£1,406,397

1.3%

£1,387,774

70.7%

£813,015

Total Liabilities

£2,813,388

59.5%

£1,763,623

90.3%

£926,712

-4.6%

£971,363

135.1%

£413,186

Net Assets

£596,419

11.8%

£533,463

11.2%

£479,684

15.2%

£416,411

4.1%

£399,829

 

Cash Flow

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

31/12/14

(%)

31/12/13

(%)

31/12/12

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

Miscellaneous

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

31/12/14

(%)

31/12/13

(%)

31/12/12

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£596,419

11.8%

£533,463

11.2%

£479,684

15.2%

£416,411

4.1%

£399,829

Number of Employees

4

-20%

5

-

-

-

-

-

-

Accountants

HAINES WATTS

Auditors

Auditor Comments

The company is exempt from audit

Bankers

Bank Branch Code

 

Ratios

Date Of Accounts

31/12/16

31/12/15

31/12/14

31/12/13

31/12/12

Pre-tax profit margin %

-

-

-

-

-

Current ratio

1.21

1.30

1.52

1.43

1.96

Sales/Net Working Capital

-

-

-

-

-

Gearing %

350.80

229.60

0

0

0

Equity in %

17.50

23.20

34.10

30

49.20

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.85

0.84

1.05

1.42

1.21

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

4.71

3.30

1.93

2.33

1.03

Total Debt Ratio

4.71

3.30

1.93

2.33

1.03

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

Report Notes

There are no notes to display.

 

Status History

No Status History found

 

 

Event History

 

Date

Description

18/01/2018

Confirmation Statement

27/09/2017

New Accounts Filed

27/09/2017

New Accounts Filed

05/05/2017

Mr S. Mutafyan has left the board

05/05/2017

New Board Member Mr S. Mutafyan appointed

03/03/2017

Annual Returns

04/10/2016

New Accounts Filed

04/10/2016

New Accounts Filed

29/07/2016

Mr Z.E. Tuncay has left the board

21/07/2016

Mr S. Mutafyan has resigned as company secretary

21/07/2016

New Company Secretary Mr M. Aksin appointed

08/06/2016

Payment Data Update Received

08/06/2016

Change in Reg.Office

08/06/2016

Change of Company Postcode

03/02/2016

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

 

 

Mortgage Details

 

Mortgage Type:

DEBENTURE

Date Charge Created:

13/01/11

Date Charge Registered:

14/01/11

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

LLOYDS TSB BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

Mortgage Type:

MEMORANDUM OF PLEDGE AND HYPOTHECATION OF GOODS

Date Charge Created:

22/11/10

Date Charge Registered:

30/11/10

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

LLOYDS TSB BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

ANY DOCUMENTS AND THE GOODS AGAINST SUCH DOCUMENTS AND ANY MONIES WHICH MAY FROM TIME TO TIME BECOMEPAYABLE UNDER ALL OR ANY OF THE INSURANCE POLICIES COMPRISED IN THE GOODS SEE IMAGE FOR FULL DETAILS

 

Mortgage Type:

DEBENTURE

Date Charge Created:

14/05/08

Date Charge Registered:

30/05/08

Date Charge Satisfied:

19/02/11

Status:

SATISFIED

Person(s) Entitled:

FORTIS BANK SA-NV UK BRANCH

Amount Secured:

Details:

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY SEE IMAGEFOR FULL DETAILS

Mortgage Type:

A GENERAL LETTER OF PLEDGE

Date Charge Created:

28/04/08

Date Charge Registered:

16/05/08

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

FORTIS BANK SA/NV UK BRANCH

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

THE PLEDGED DOCUMENTS AND THE PLEDGED GOODS SEE IMAGE FOR FULL DETAILS

 

 

Previous Director/Company Secretaries

 

Name

Current Active Appointments

Previous Appointments

Dissolved Companies

Ziya Engin Tuncay

1

2

3

Murat Senguder

2

4

4

Sevan Mutafyan

0

1

2

Aysen Seniha Apaydin

0

1

0

Emine Bayindir Durgun

0

1

0

Total Persons With Significant Control

3

Total Statements

0

Active

3

Active

0

Ceased

0

Ceased

0

Active Personal With Significant Control

 

Name

Mrs Aysen Seniha Mutafyan

Kind

Individual Person With Significant Control

Address

Flat 46 William Hunt Mansions Somerville Avenue, London

Country Of Residence

United Kingdom

Post Code

SW13 8HT

Nationality

British

Date of Birth

11/1959

Notified On

06/04/2016

Nature Of Control

Ownership Of Shares 25 To 50 Percent,Voting Rights 25 To 50 Percent

Name

Mrs Emine Bayindir Durgun

Kind

Individual Person With Significant Control

Address

1 Blandford Close, London

Country Of Residence

United Kingdom

Post Code

N2 0DH

Nationality

British

Date of Birth

11/1973

Notified On

06/04/2016

Nature Of Control

Ownership Of Shares 25 To 50 Percent,Voting Rights 25 To 50 Percent

 

Name

Mrs Emel Tuncay

Kind

Individual Person With Significant Control

Address

40 St Johns Wood Court St. Johns Wood Road, London

Country Of Residence

United Kingdom

Post Code

NW8 8QR

Nationality

British

Date of Birth

07/1955

Notified On

06/04/2016

Nature Of Control

Ownership Of Shares 25 To 50 Percent,Voting Rights 25 To 50 Percent

 

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

£288

Invoices available

1

Paid

1

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

0

0

1

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 :

NIY

 

 

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.