MIRA
INFORM REPORT
|
Report Date : |
3rd
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
MONNICKENDAM
DIAMONDS LIMITED |
|
|
|
|
Registered Office : |
PALLADIUM
HOUSE, 1 4 ARGYLL STREET, LONDON, W1F 7LD |
|
|
|
|
Country : |
United
Kingdom |
|
|
|
|
Date of Incorporation : |
04/04/1995 |
|
|
|
|
Com. Reg. No.: |
03041702 |
|
|
|
|
Legal Form : |
Private
Limited with share capital |
|
|
|
|
Line of Business : |
Dealing
in polished and rough diamonds and the cutting and polishing thereof.
- - |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
Company Identification Details
|
|
|
|
Subject
Reported on |
MONNICKENDAM
DIAMONDS LIMITED |
|
Trading
Address |
9 Ely
Place, London, EC1N 6RY |
|
Telephone |
020
72422333 |
|
Fax |
020 7404 0223 |
|
Email |
info@monnickenham.co.uk
|
|
|
Website |
www.monnickendam.co.uk |
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Risk
Score |
|
|
|
|
Low
Risk - There is a high degree of confidence this company will prove good for
the assigned Credit Limit |
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|
|
|
|
|
Credit
Limit |
GBP
214,500 |
|
|
|
Selling
to this company? The Credit Limit is the recommended maximum outstanding
debtor exposure at any one time. |
|
|
|
|
|
|
Contract
Limit |
GBP
1,439,700 |
|
|
|
Buying
from this company? The Contract Limit is the recommended aggregate annual
value for supply contracts. |
|
Official Company Data
|
|
|
|
Legal
Form |
Private
Limited with share capital |
|
Registration
Number |
03041702 |
|
Date
of Incorporation |
04/04/1995 |
|
Registered
Office |
PALLADIUM
HOUSE, 1 4 ARGYLL STREET, LONDON, W1F 7LD . |
|
Date
of Last Annual Return to Registry |
18/03/2006 |
|
Activities |
DEALING
IN POLISHED AND ROUGH DIAMONDS AND THE CUTTING AND POLISHING THEREOF.
- - |
|
Accounts |
The
last filed accounts cover the period to 31/12/2004 and were presented to
Companies House on 12/07/2005 |
Recently Filed
Documents
Details of the
most recent documents
|
Date Received |
Description |
|
It should be noted that there is no legal requirement to file
satisfaction details of mortgages/charges at Companies House. |
Known Directors
|
|
|
|
|
DIRECTOR |
|
|
|
Occupation |
COMPANY DIRECTOR |
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|
Address |
CHESSUNT , AUSTELL GARDENS MILL HILL
, LONDON , NW7 4NS |
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|
Country of Origin |
BRITISH |
|
|
Date of Birth |
12/03/1947 |
|
|
Appointment Date |
04/04/1995 |
|
|
Other Appointments |
A. MONNICKENDAM LIMITED |
|
|
SECRETARY
|
NEIL
PHILLIP HOLNESS |
|
|
Address |
94 , PRETORIA ROAD , LONDON
, SW16 6RN |
|
|
Country of Origin |
BRITISH |
Recently Resigned Directors (last
3)
|
|
|
|
None |
|
Share Summary
|
Share
Currency: |
GBP |
||||||||
|
Issued
at date of report: |
750,002 ORD |
Shares
of 100 pence each |
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Prinicipal
Shareholders: |
Type
Of Share |
No.
of Shares |
Value |
|
|
|
|
|
|
|
GARY D
MONNICKENDAM |
ORD |
525,001
|
525,001.00 |
|
|
|
|
|
|
|
JEFFREY
MONNICKENDAM |
ORD |
225,001
|
225,001.00 |
|
|
|
|
|
|
Mortgages and Charges
|
|
|
|
Total
Registered |
1 |
|
Total
Outstanding |
1 |
|
Total
Satisfied |
0 |
|
Most
Recent Mortgage |
02/05/1996 |
|
|
|
|
|
|
|
Date
Registered |
16/05/1996 |
|
Type |
395 |
|
Date
Created |
02/05/1996 |
|
Lender |
MIDLAND
BANK PLC |
|
Secured
On |
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 UNCALLED CAPITAL, GOODWILL, BOOKDEBTS AND PATENTS |
|
Satisfied? |
No |
Public Record Information
Summary of CCJ's/Scottish Decrees
|
There
are no unsatisfied CCJs against the company. |
Operations
|
|
|
|
Activities |
DEALING
IN POLISHED AND ROUGH DIAMONDS AND THE CUTTING AND POLISHING THEREOF.
- - |
|
Sic
Code |
Description |
|
3622 |
Manufacture
of jewellery and related articles not elsewhere classified |
|
Staff
Employed |
11 |
|
Auditors |
HAZLEMS
FENTON |
|
Auditors
Notes |
No
Qualification. The Auditors have expressed a clean opinion (i.e. unqualified
with no referrals) on the accounts for the period ended 31/12/2004. |
|
Bankers |
- |
Financial Data
|
Profit
and Loss |
|
The
following figures are shown in units of GBP '000 |
|
Number
of Weeks |
52 |
52 |
52 |
52 |
|
Accounts
Date |
31/12/2004 |
31/12/2003 |
31/12/2002 |
31/12/2001 |
|
Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
|
Consolidated? |
No |
No |
No |
No |
|
SALES |
6,463 |
6,678 |
7,728 |
9,052 |
|
Cost
of goods sold |
5,437 |
5,414 |
6,626 |
7,993 |
|
GROSS
PROFIT |
1,026 |
1,264 |
1,102 |
1,059 |
|
Other
Expenses |
900 |
1,159 |
1,111 |
1,038 |
|
Wages
and Salaries |
452 |
520 |
581 |
- |
|
Directors
Emoluments |
100 |
150 |
175 |
- |
|
Auditors
Fees |
11 |
10 |
10 |
10 |
|
Depreciation |
5 |
3 |
3 |
3 |
|
Operating
Profit |
125 |
105 |
-8 |
21 |
|
Non
Trading Income |
10 |
10 |
17 |
43 |
|
Interest
Payable |
0 |
0 |
0 |
1 |
|
PRE
TAX PROFIT |
135 |
115 |
9 |
63 |
|
Taxation |
27 |
23 |
1 |
14 |
|
PROFIT
AFTER TAX |
108 |
92 |
8 |
49 |
|
RETAINED
PROFITS |
108 |
92 |
8 |
49 |
|
|
|
|
Balance
Sheet |
|
|
The
following figures are shown in units of GBP '000 |
|
|
Number
of Weeks |
52 |
52 |
52 |
52 |
|
Accounts
Date |
31/12/2004 |
31/12/2003 |
31/12/2002 |
31/12/2001 |
|
Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL
FIXED ASSETS |
19 |
23 |
23 |
22 |
|
Tangible
Assets |
19 |
23 |
23 |
22 |
|
Fixed
Assets |
19 |
23 |
23 |
22 |
|
TOTAL
CURRENT ASSETS |
2,252 |
2,891 |
2,720 |
2,673 |
|
Total
Debtors |
1,063 |
990 |
1,238 |
838 |
|
Trade
Debtors |
971 |
924 |
1,065 |
787 |
|
Other
Debtors |
92 |
65 |
173 |
51 |
|
Stocks/WIP |
507 |
577 |
512 |
476 |
|
Stocks |
507 |
577 |
512 |
476 |
|
Cash |
683 |
1,324 |
971 |
1,359 |
|
TOTAL
ASSETS |
2,271 |
2,913 |
2,743 |
2,695 |
|
TOTAL
CURRENT LIABILITIES |
832 |
1,582 |
1,503 |
1,463 |
|
Trade
creditors |
669 |
1,196 |
1,121 |
812 |
|
Bank
Overdraft |
- |
0 |
0 |
- |
|
Corporation
Tax |
27 |
23 |
1 |
14 |
|
Other
Current Liabilities |
26 |
0 |
0 |
167 |
|
Misc
Current Liabilities |
109 |
362 |
380 |
470 |
|
WORKING
CAPITAL |
1,421 |
1,309 |
1,217 |
1,211 |
|
NET
ASSETS/(LIABILITIES) |
1,440 |
1,332 |
1,240 |
1,232 |
|
SHARE
CAPITAL + RESERVES |
1,440 |
1,332 |
1,240 |
1,232 |
|
Issued
Share Capital |
750 |
750 |
750 |
750 |
|
Profit
and Loss account |
690 |
582 |
490 |
482 |
|
SHAREHOLDERS
FUNDS |
1,440 |
1,332 |
1,240 |
1,232 |
|
CAPITAL
EMPLOYED |
1,440 |
1,332 |
1,240 |
1,232 |
|
|
|
|
Key
Credit Ratios |
|
|
Accounts
Date |
31/12/2004 |
31/12/2003 |
31/12/2002 |
31/12/2001 |
|
Current
Ratio |
2.71 |
1.83 |
1.81 |
1.83 |
|
Long
Term Debt/T.N.W (%) |
0.00 |
0.00 |
0.00 |
0.00 |
|
Profit
Before Tax |
2.09 |
1.72 |
0.11 |
0.69 |
|
Debtors
Days (D.S.O) |
54.83 |
50.51 |
50.32 |
31.74 |
|
Creditors
Days (D.P.O) |
44.92 |
80.63 |
61.78 |
37.06 |
|
Quick
Ratio |
2.10 |
1.46 |
1.47 |
1.50 |
|
Return
on Assets |
5.95 |
3.94 |
0.31 |
2.33 |
|
T.N.W/Total
Assets |
63.38 |
45.71 |
45.21 |
45.72 |
|
Return
on Capital |
9.39 |
8.61 |
0.70 |
5.10 |
|
Rtn
on Shareholders Funds |
9.39 |
8.61 |
0.70 |
5.10 |
|
Working
Capital/Sales |
21.98 |
19.60 |
15.75 |
13.37 |
|
Borrowing
Ratio |
- |
- |
3.17 |
7.82 |
|
Equity
Gearing |
63.38 |
45.71 |
45.21 |
45.72 |
|
Stock
Turnover |
12.76 |
11.56 |
15.10 |
19.02 |
|
|
|
Financial
Comparison |
|
The
following figures are shown in units of GBP '000 |
|
Number
of Weeks |
52 |
52 |
52 |
52 |
|
Accounts
Date |
31/12/2004 |
31/12/2003 |
31/12/2002 |
31/12/2001 |
|
Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
|
Net
Cashflow from Oper. |
-626 |
347 |
-388 |
-223 |
|
Increase
in Cash |
-641 |
353 |
-389 |
1,086 |
|
Directors
Remuneration |
100 |
150 |
175 |
- |
|
Auditors
Remuneration |
11 |
10 |
10 |
10 |
|
Other
Deferred Liabs |
0 |
0 |
0 |
0 |
|
Tangible
Net Worth(T.N.W) |
1,440 |
1,332 |
1,240 |
1,232 |
|
Equity |
1,440 |
1,332 |
1,240 |
1,232 |
|
Number
of Employees |
11 |
11 |
11 |
11 |
|
|
|
|
Key
Industry Sector Trends |
|
|
|
Company |
Industry Averages |
||
|
|
31/12/2004 |
Lower |
Median |
Upper |
|
Current
Ratio |
2.71 |
0.9 |
1.3 |
2.3 |
|
Return
on Capital |
9.39 |
3.5 |
22.5 |
101.6 |
|
Credit
Period |
54.83 |
0 |
19.4 |
55.5 |
|
This
comparison is based on the results of 0000795 companies in the same
industrial sector: jewellery & coins |
|
|
|
Financial Summary
|
|
|
Turnover |
Turnover
decreased by more than 3% in the period. Turnover totalled GBP 6,463,035
for the period. |
|
Operating
Profit |
Totalled
GBP 125,421 In the period prior a profit of GBP 105,101 was
achieved. |
|
Pre
Tax |
The
subject made a profit of GBP 135,182 compared with a profit of
GBP 114,698 in the previous period. |
|
Working
Capital |
The
company's working capital improved in the period by 9% |
|
Tangible
Net Worth |
Net
worth increased by 107,889 during the period and now stands at
GBP 1,439,656 |
|
Fixed
Assets |
The
subjects fixed assets reduced during the period by GBP 3,757 to
GBP 19,080 and are now 1% of total assets compared with 1% in the
previous period |
|
Long
Term Liabilities |
Long
term liabilities are now 0% of total assets compared with 0% in the previous
period |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |