MIRA INFORM REPORT

Report No. :	507257
Report Date :	07.05.2018

IDENTIFICATION DETAILS

Name :	ROSSMAR TEXTILES LIMITED
Formerly Known As :	KITSECTOR LIMITED
Registered Office :	Strang Street Works, Strang Street, Forfar, Dd8 2hr
Country :	United Kingdom
Financials (as on) :	30.09.2017
Date of Incorporation :	26.06.1990
Com. Reg. No.:	SC125791
Legal Form :	Private limited with Share Capital
Line of Business :	Preparation and spinning of textile fibres
No. of Employees :	Not available

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 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: ROSSMAR TEXTILES LIMITED

Company No: SC125791

Company Status: Active - Accounts Filed

Status Active

Registered Address: STRANG STREET WORKS STRANG STREET FORFAR DD8 2HR

Company Name

ROSSMAR TEXTILES LIMITED

Company Number

SC125791

Company Summary

Registered Address STRANG STREET WORKS
STRANG STREET
FORFAR
DD8 2HR

Trading Address Strang Street Works
Strang Street
Forfar
Angus
DD8 2HR

Website Address -

Telephone Number 01307461155

Fax Number

TPS Yes

FPS Yes

Incorporation Date 26/06/1990

Previous Name KITSECTOR LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 03/09/1990

Filing Date of Accounts 19/12/2017

Currency GBP

Share Capital £25,000

SIC07 13100

Charity Number -

SIC07 Description PREPARATION AND SPINNING OF TEXTILE FIBRES

Principal Activity Preparation and spin of other textile.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company PROTIA LTD

Accountant FOURM LIMITED

Mortgages 2

Trade Debtors -

Group 2 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

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

30/09/2017 - - £58,466 -

30/09/2016 - - £54,430 -

30/09/2015 - - £67,280 -

Mortgage Summary

Total Mortgage 2

Outstanding 0

Satisfied 2

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 1

Total Value of Documented Trade £10,515

Commentary

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 higher 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	2	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	10	Total Person's With Significant Control	1

Current Directors

Title	Mrs	Function	Director
Name	Anne Alexandra Thomson	Nationality	British
Date of Birth	10/1953	Present Appointments	4
Latest Address	Stannergate House 41 Dundee Road West, Broughty Ferry, Dundee	Appointment Date	08/01/2015
Post Code	DD5 1NB
Title	Mr	Function	Director
Name	Andrew Crockett Martin	Nationality	British
Date of Birth	08/1957	Present Appointments	1
Latest Address	8 Hawick Drive, Dundee, Angus	Appointment Date	18/06/2009
Post Code	DD4 0TA

Current Company Secretary

Title	Mr	Function	Company Secretary
Name	Derek William Bates	Nationality	British
Date of Birth	02/1947	Present Appointments	6
Latest Address	28 Rose Walk, West Wickham, Kent	Appointment Date	05/06/2008
Post Code	BR4 0SD

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
PROTIA LIMITED	GBP	25,000	ORDINARY	1	100

Financials

Profit & Loss

	Date Of Accounts	30/09/17	(%)	30/09/16	(%)	30/09/15	(%)	30/09/14	(%)	30/09/13
	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	£181	135.1%	£77	-24.5%	£102	292.3%	£26	-23.5%	£34
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	30/09/17	(%)	30/09/16	(%)	30/09/15	(%)	30/09/14	(%)	30/09/13
	Tangible Assets	£544	135.5%	£231	-25%	£308	305.3%	£76	-25.5%	£102
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£544	135.5%	£231	-25%	£308	305.3%	£76	-25.5%	£102
	Stock	£211,399	193.6%	£72,008	-58.9%	£175,042	23.3%	£141,995	-31.6%	£207,732
	Trade Debtors	£345,305	-2.3%	£353,545	141.6%	£146,324	-10.9%	£164,261	25.1%	£131,303
	Cash	£23,627	-58.2%	£56,528	-53.2%	£120,910	56.9%	£77,070	35.3%	£56,974
	Other Debtors	0	-	0	-	0	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£580,331	20.4%	£482,081	9%	£442,276	15.4%	£383,326	-3.2%	£396,009
	Trade Creditors	£522,409	22.1%	£427,882	14%	£375,304	3.6%	£362,290	-11.5%	£409,174
	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	£522,409	22.1%	£427,882	14%	£375,304	3.6%	£362,290	-11.5%	£409,174
	Bank Loans & Overdrafts and LTL	0	-	0	-	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	30/09/17	(%)	30/09/16	(%)	30/09/15	(%)	30/09/14	(%)	30/09/13
	Called Up Share Capital	£25,000	-	£25,000	-	£25,000	-	£25,000	-	£25,000
	P & L Account Reserve	£33,466	13.7%	£29,430	-30.4%	£42,280	999.9%	-£3,888	89.8%	-£38,063
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£58,466	7.4%	£54,430	-19.1%	£67,280	218.7%	£21,112	261.6%	-£13,063

Other Financial Items

	Date Of Accounts	30/09/17	(%)	30/09/16	(%)	30/09/15	(%)	30/09/14	(%)	30/09/13
	Net Worth	£58,466	7.4%	£54,430	-19.1%	£67,280	218.7%	£21,112	261.6%	-£13,063
	Working Capital	£57,922	6.9%	£54,199	-19.1%	£66,972	218.4%	£21,036	259.8%	-£13,165
	Total Assets	£580,875	20.4%	£482,312	9%	£442,584	15.4%	£383,402	-3.2%	£396,111
	Total Liabilities	£522,409	22.1%	£427,882	14%	£375,304	3.6%	£362,290	-11.5%	£409,174
	Net Assets	£58,466	7.4%	£54,430	-19.1%	£67,280	218.7%	£21,112	261.6%	-£13,063

Miscellaneous

	Date Of Accounts	30/09/17	(%)	30/09/16	(%)	30/09/15	(%)	30/09/14	(%)	30/09/13
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£58,466	7.4%	£54,430	-19.1%	£67,280	218.7%	£21,112	261.6%	-£13,063
	Number of Employees	-	-	-	-	-	-	-	-	-
	Accountants	FOURM LIMITED
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers	BANK OF SCOTLAND
	Bank Branch Code

Ratios

	Date Of Accounts	30/09/17	30/09/16	30/09/15	30/09/14	30/09/13
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	1.11	1.13	1.18	1.06	0.97
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	0	0	0	0	0
	Equity in %	10.10	11.30	15.20	5.50	-3.30
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	0.70	0.95	0.71	0.66	0.46
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	8.93	7.86	5.57	17.16	-31.32
	Total Debt Ratio	8.93	7.86	5.57	17.16	-31.32
	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
22/12/2017	New Accounts Filed
12/07/2017	Confirmation Statement
18/03/2017	Payment Data Update Received
10/03/2017	New Accounts Filed
07/09/2016	Payment Data Update Received
17/07/2016	Annual Returns
15/02/2016	New Accounts Filed
01/07/2015	Annual Returns
12/03/2015	New Accounts Filed
12/02/2015	New Board Member Mrs A.A. Thomson appointed
17/11/2014	Mr P. Holmes has left the board
02/07/2014	New Accounts Filed
30/06/2014	Annual Returns
07/05/2014	Mr C. Clasen has left the board
09/07/2013	Annual Returns

Previous Company Names

Date	Previous Name
03/09/1990	KITSECTOR LIMITED

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	PROTIA LTD

Group Structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
PROTIA LTD	N/A	-	-
ROSSMAR TEXTILES LIMITED	SC125791	30.09.2017	N

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Mortgage Details

Mortgage Type:	FLOATING CHARGE
Date Charge Created:	31/05/02
Date Charge Registered:	19/06/02
Date Charge Satisfied:	13/04/17
Status:	SATISFIED
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND COMMERCIAL SERVICES LIMITED;
Amount Secured:
Details:	UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY INCLUDING UNCALLED CAPITAL
Mortgage Type:	BOND & FLOATING CHARGE
Date Charge Created:	19/07/95
Date Charge Registered:	26/07/95
Date Charge Satisfied:	09/01/98
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
Details:	THE WHOLE ASSETS OF THE COMPANY

Creditor Details

	Total Number	Total Value
Trade Creditors	0	-
No Creditor Data

Trade Debtors / Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	1	£10,515

Company Name	Amount	Statement Date
Rexmore Textiles Limited	£10,515	26/09/2017

Previous Director/Company Secretaries

Name	Current Active Appointments	Previous Appointments	Dissolved Companies
William Ian McLellan	1	1	12
MOORES ROWLAND	0	5	6
Derek William Bates	1	1	10
DRURY HOUSE REGISTRARS LIMITED	1	12	96
Paul Holmes	0	1	5
Marion Irene McLellan	2	1	11
John Adam Bradford Carruthers	0	1	3
Christian Clasen	0	1	0
JORDANS (SCOTLAND) LIMITED	0	4327	15626
OSWALDS OF EDINBURGH LIMITED	0	9875	28736

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

Active Persons With Significant Control

Name	Mr Andrew Crockett Martin	Kind	Individual Person With Significant Control
Address	Strang Street Works Strang Street, Forfar, Angus	Country Of Residence	Scotland
Post Code	DD8 2HR	Nationality	British
Date of Birth	08/1957	Notified On	26/06/2017
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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.78
UK Pound	1	INR 90.58
Euro	1	INR 79.97
GBP	1	INR 90.88

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

INFORMATION DETAILS

Analysis Done by :	NIY
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.