MIRA
INFORM REPORT
|
Report Date : |
07.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
EID LIMITED |
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Registered Office : |
Bkb York House,
Empire Way, Wembley, Middlesex, HA9 0QL |
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Country : |
United Kingdom |
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Financials (as on) : |
30.04.2005 |
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Date of Incorporation : |
13/01/1998 |
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Com. Reg. No.: |
03491832 |
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Legal Form : |
Private Limited |
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Line of Business : |
Dealers in industrial diamonds |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
Company Identification Details
Subject Reported
on EID LIMITED
Address 12 ST CROSS
STREET, LONDON, EC1N 8UB.
Telephone 020 7405 6594
Facsimile 020 7831 0372
Email eidlondon@aol.com
Web Address www.eid-ltd.com
Creditline
Recommendations
Risk Category NORMAL
RISK
XSeption Summary
Number of
XSeptions 0
Note : An
'XSeption' is only recorded when unusual patterns of behavior or financial
results have been identified.
Official Company Data
Legal Form Private Limited
Registration
Number 03491832
Date of
Incorporation 13/01/1998
Registered Office BKB YORK HOUSE,
EMPIRE WAY, WEMBLEY, MIDDLESEX,
HA9
0QL.
Date of Last
Annual Return to Registry 13/01/2007
Accounts The last filed accounts
at Companies House are those to
30/04/2005
Accounting
Reference Date 30/04
Operations
Activities Dealers in
industrial diamonds.
Nace Code 5156
Premises Owned,Offices
Staff Employed 7
Import Countries ALL OVER THE WORLD
Export Countries ALL OVER THE WORLD
Bankers BARCLAYS BANK PLC
Address HOLBORN.
Sort Code 204141
Auditors Benjamin Kay &
Brummer
Subsidiaries EUROPEAN
INVESTMENTS & DEVELOPMENT (PROPERTIES) LIMITED
Public Record
Information
Summary of
CCJ's/Scottish Decrees
No CCJs/Scottish Decrees are recorded in our
file.
Summary of Mortgages,
Charges and
Satisfactions
Total Number of
Mortgages/Charges Registered 1
Number Outstanding
1
Number Partially
Satisfied 0
Number Satisfied 0
Date of Latest
Mortgage Created 16/03/2000
Details of most
recent Mortgages,
Charges and
Satisfactions
|
Date Fully |
Date |
Date |
Charge |
Form Type |
Lender |
|
|
22/03/2000 |
16/03/2000 |
Debenture |
395 |
Barclays Bank Plc |
It should be noted
that there is no legal requirement to file satisfaction details of
mortgages/charges at Companies House.
Other Filings and
Notices
Date Source Description
27/02/1998 Companies House Gazette Alteration in memorandum or articles of
association
27/02/1998 Companies House Gazette Change among the directors of a company
Company Secretary
Secretary SANDRA
ALBERTA HINDS
Address 34 PONTON HOUSE,
PALACE ROAD, LONDON, SW2 3EQ.
Country of Origin UNITED KINGDOM
Date of Birth 30/06/1965
Appointment Date 13/01/1998
Directors
Director MARTIN
BARRY LEE
Address 37 HIGHWOOD
GARDENS, ILFORD, ESSEX, IG5 0AZ.
Country of Origin UNITED KINGDOM
Date of Birth 13/09/1960
Appointment Date 13/01/1998
Other Directorships PROCTER MANAGEMENT
LIMITED
Share Capital
Shares Ordinary GBP 1.00
Issued Number 1,000
Principal
Shareholder 1,000 Leigh
International Ltd
The above reflects
the principle shareholder(s) by number of shares held, irrespective of share
classification type.
Holding Company Leigh
International Ltd, a company incorporated in LIBERIA
Ultimate Parent LEIGH
INTERNATIONAL LTD, a company incorporated in LIBERIA
Payment Analysis
( No Payment
Analysis Data is Available )
Financial Data
Profit and Loss
The following figures are shown in units of 1000
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
30/04/2005 |
30/04/2004 |
30/04/2003 |
30/04/2002 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
SALES |
|
|
|
6106 |
|
Cost of goods sold |
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|
|
5319 |
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GROSS PROFIT |
609 |
730 |
863 |
787 |
|
Wages and Salaries |
257 |
240 |
216 |
201 |
|
Directors Emoluments |
60 |
76 |
72 |
60 |
|
Auditors Fees |
3 |
3 |
3 |
3 |
|
Trading Profit |
(5) |
210 |
455 |
237 |
|
Depreciation |
10 |
13 |
12 |
14 |
|
OPERATING PROFIT |
(15) |
197 |
443 |
223 |
|
PRE TAX PROFIT |
(15) |
197 |
443 |
223 |
|
Taxation |
(18) |
(19) |
73 |
40 |
|
PROFIT AFTER TAX |
3 |
216 |
370 |
183 |
|
RETAINED PROFITS |
3 |
216 |
370 |
183 |
Balance Sheet
The following figures
are shown in units of 1000
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
30/04/2005 |
30/04/2004 |
30/04/2003 |
30/04/2002 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
TOTAL FIXED
ASSETS |
64 |
42 |
39 |
48 |
|
Tangible Assets |
64 |
42 |
39 |
48 |
|
Fixed Assets |
64 |
42 |
39 |
48 |
|
TOTAL CURRENT
ASSETS |
5835 |
4927 |
5219 |
5429 |
|
Trade debtors |
3295 |
2990 |
3173 |
3484 |
|
Stocks |
2408 |
1892 |
1963 |
1826 |
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Other Current Assets |
132 |
45 |
83 |
119 |
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Misc Current Assets |
51 |
32 |
17 |
17 |
|
Cash |
81 |
13 |
66 |
102 |
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TOTAL ASSETS |
5899 |
4969 |
5258 |
5477 |
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TOTAL CURRENT
LIABILITIES |
3151 |
2074 |
2335 |
2697 |
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Trade creditors |
2883 |
1715 |
2008 |
2345 |
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Short Term Loans |
185 |
126 |
4 |
67 |
|
Bank Overdraft |
185 |
126 |
4 |
67 |
|
Other Liabilities |
83 |
233 |
323 |
285 |
|
WORKING CAPITAL |
2684 |
2853 |
2884 |
2732 |
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TOTAL LONG TERM
LIABS |
1956 |
2106 |
2350 |
2577 |
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Long Term Loans |
1956 |
2106 |
2350 |
2577 |
|
Due To Group |
1956 |
2106 |
2350 |
2577 |
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NET
ASSETS/(LIABILITIES) |
792 |
789 |
573 |
203 |
|
SHARE CAPITAL +
RESERVES |
792 |
789 |
573 |
203 |
|
Share Cap + Sundry Res |
1 |
1 |
1 |
1 |
|
Issued Share Capital |
1 |
1 |
1 |
1 |
|
Profit and Loss account |
791 |
788 |
572 |
202 |
|
SHAREHOLDERS FUNDS |
792 |
789 |
573 |
203 |
|
CAPITAL EMPLOYED |
2748 |
2895 |
2923 |
2780 |
Financial
Comparison
The following
figures are shown in units of 1000
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
30/04/2005 |
30/04/2004 |
30/04/2003 |
30/04/2002 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Net Cashflow
from Oper. |
|
|
300 |
(38) |
|
Increase in Cash |
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|
27 |
(88) |
|
Directors
Remuneration |
60 |
76 |
72 |
60 |
|
Auditors
Remuneration |
3 |
3 |
3 |
3 |
|
Liquid Assets |
3376 |
3003 |
3239 |
3586 |
|
Net Working
Capital |
2684 |
2853 |
2884 |
2732 |
|
Long Term
Debt(>12 Months) |
1956 |
2106 |
2350 |
2577 |
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Tangible Net
Worth(T.N.W) |
792 |
789 |
573 |
203 |
|
Equity |
792 |
789 |
573 |
203 |
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Number of Years
Trading |
7 |
6 |
5 |
4 |
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Number of
Employees |
7 |
7 |
7 |
7 |
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Profit per
Employee |
(2142.9) |
28142.9 |
63285.7 |
31857.1 |
|
Sales per
Employee |
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|
872285.7 |
Key Credit Ratios
The following figures
are shown as Ratios or Percentages
|
Accounts Date |
30/04/2005 |
30/04/2004 |
30/04/2003 |
30/04/2002 |
|
Current Ratio |
1.9 |
2.4 |
2.2 |
2 |
|
Long Term
Debt/T.N.W |
2.5 |
2.7 |
4.1 |
12.7 |
|
Pre Tax Profit
Margin% |
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|
3.7 |
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Gross Profit% |
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|
12.9 |
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Debtors Days
(D.S.O) |
|
|
|
208 |
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Creditors Days
(D.P.O) |
|
|
|
140 |
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Quick Ratio |
1.1 |
1.5 |
1.4 |
1.3 |
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W.I.P/Inventory
Days |
|
|
|
125.3 |
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Return on
Investment% |
(0.5) |
6.5 |
15.1 |
7.8 |
|
Return on
Assets% |
(0.3) |
4 |
8.4 |
4.1 |
|
T.N.W/Total
Assets% |
13.4 |
15.9 |
10.9 |
3.7 |
|
Return on
Capital% |
(0.5) |
6.8 |
15.2 |
8 |
|
Rtn on
Shareholders Funds% |
(1.9) |
25 |
77.3 |
109.9 |
|
Working
Capital/Sales% |
|
|
|
44.7 |
|
Borrowing Ratio% |
270.3 |
282.9 |
410.8 |
1302.5 |
|
Equity Gearing% |
15.5 |
18.9 |
12.2 |
3.8 |
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Stock Turnover |
|
|
|
3.3 |
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Days Purchases
Outstanding |
|
|
|
160.9 |
Key Industry Sector
Trends
|
Year |
2006 |
2005 |
2004 |
2003 |
|
Sample Size |
2820 |
6707 |
6735 |
6469 |
|
Pre-Tax Profit
Margin |
4.7 |
4.1 |
4 |
3.3 |
|
Current Ratio |
1.5 |
1.5 |
1.4 |
1.4 |
|
Borrowing Ratio |
86.6 |
98 |
94.3 |
105.3 |
|
Return on
Capital |
31.5 |
29.5 |
30.9 |
27.3 |
|
Creditors Days |
52 |
49 |
68 |
62 |
Above figures
relate to companies in 1992 Standard Industry Classification (Nace) sector :
Wholesale of non-agricultural intermediate products, waste and scrap
Financial Summary
Auditors
Qualification
The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 30/04/2005.
Operating Loss
Totalled GBP 15,000. In the year prior a Profit of GBP 197,000 was achieved.
Pre Tax Profit
The subject made a loss of GBP 15,000 in the period compared with a profit of GBP 197,000 in the previous period.
Working Capital
The company's working capital remains positive but reduced by 6 % in the period.
Long Term
Liabilities
The company's long term liabilities reduced during the period by 7 % and are now 247 % of net worth compared with 267 % in the previous period.
Long Term
Liabilities
Long term liabilities are now 33 % of total liabilities compared with 42 % in the previous period.
Long Term
Liabilities
Long term liabilities are 71 % of capital employed, a decrease of 2 % over 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)