MIRA
INFORM REPORT
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Report Date : |
21.05.2007 |
IDENTIFICATION DETAILS
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Name : |
TANZANITE JEWELLERS LIMITED |
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Registered Office : |
158A |
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Country : |
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Financials (as on) : |
28.02.2006 |
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Date of Incorporation : |
01/12/1986 |
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Com. Reg. No.: |
02079119 |
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Legal Form : |
Private Limited |
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Line of Business : |
Wholesalers of jewellery. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
No Complaints |
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Litigation : |
Clear |
Company Identification Details
Subject Reported
on TANZANITE
JEWELLERS LIMITED
Address PO
Telephone 0870 601 0117
Facsimile 0870 601 0118
Creditline Recommendations
Risk Category ABOVE
Official Company Data
Legal Form Private Limited
Registration
Number 02079119
Date of
Incorporation 01/12/1986
Registered Office 158A
History 7/01/1998 : The
Registered Office address changed from
GARDEN,
Date of Last Annual
Return to Registry
16/04/2007
Accounts The last filed
accounts at Companies House are those to 28/02/2006
Accounting
Reference
Date 28/02
Operations
Activities Wholesalers of
jewellery.
Nace Code 5147
Premises Warehouse
Staff Employed 3
Auditors Shah Rupani
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 22/12/1994
Details of most
recent Mortgages,
Charges and
Satisfactions
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Date Fully |
Date |
Date |
Charge |
Form Type |
Lender |
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11/01/1995 |
22/12/1994 |
Mortgage Debenture |
395 |
National Westminster 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
14/04/1988 Companies House Gazette Documents delivered by a company under
section 241 (annual accounts)
28/02/1987 Companies House Gazette Change in the situation of company's
registered office
02/12/1986 Companies House Gazette Change among the directors of a company
Company Secretary
Secretary MRS HAMIDA HUSSEIN
Address 32
MEREDITH CLOSE, PINNER,
Country of Origin UNITED KINGDOM
Appointment Date 16/04/1991
Directors
Director MR MOHAMED HUSSEIN
Address 32
MEREDITH CLOSE, PINNER,
Country of Origin UNITED KINGDOM
Date of Birth 04/04/1942
Appointment Date 16/04/1991
Share Capital
Shares Ordinary GBP 1.00
Issued Number 100
Principal Shareholder 99 Mohamed Hussein
1 Hamida
Hussein
The above reflects
the principle shareholder(s) by number of shares held, irrespective of share
classification type.
Payment Analysis
No Payment Analysis Data is Available
Financial Data
Profit & Loss Accounts are not available for companies categorised as small companies under the companies act.
Balance Sheet
The following
figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 28/02/2006 28/02/2005 29/02/2004 28/02/2003
Currency GBP GBP GBP GBP
TOTAL FIXED ASSETS 1 1 1 1
Tangible Assets 1 1 1 1
TOTAL CURRENT
ASSETS 75 101 96 88
Trade debtors 14 26 20 17
Stocks 50 62 60 64
Other Current
Assets 11 13 16 7
Cash 11 13 16 7
TOTAL ASSETS 76 102 97 89
TOTAL CURRENT
LIABILITIES 14 44 38 32
Trade creditors 1 1
Short Term Loans 7 31 30 16
Due To Group 25 24 10
Due To Directors 7 6 6 6
Other Liabilities 7 13 7 15
WORKING CAPITAL 61 57 58 56
TOTAL LONG TERM
LIABS 57 58 58 58
Long Term Loans 57 58 58 58
Due To Directors 57 58 58 58
NET
ASSETS/(LIABILITIES) 5 1 (1)
SHARE CAPITAL +
RESERVES 5 1 (1)
Profit and Loss
account 5 1 (1)
SHAREHOLDERS FUNDS 5 1 (1)
CAPITAL EMPLOYED 62 58 59 57
Financial
Comparison
The following
figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 28/02/2006 28/02/2005 29/02/2004 28/02/2003
Currency GBP GBP GBP GBP
Liquid Assets 25 39 36 24
Net Working
Capital 61 57 58 56
Long Term
Debt(>12 Months) 57 58 58 58
Tangible Net
Worth(T.N.W) 5 1 (1)
Equity 5 1 (1)
Number of Years
Trading 20 19 18 17
Key Credit Ratios
The following
figures are shown as Ratios or Percentages
Accounts Date 28/02/2006 28/02/2005 29/02/2004 28/02/2003
Current Ratio 5.4 2.3 2.5 2.8
Long Term
Debt/T.N.W 11.4 58 (58)
Quick Ratio 1.8 0.9 0.9 0.8
T.N.W/Total
Assets% 6.6 1 (1.1)
Borrowing Ratio% 1280 8800 (7400)
Equity Gearing% 7 1 (1.1)
Key Industry Sector
Trends
Year 2007 2006 2005 2004
Sample Size 58 6584 11903 12169
Pre-Tax Profit
Margin 2.3 3.2 2.6 3
Current Ratio 1.7 1.7 1.6 1.6
Borrowing Ratio 135.6 53.3 61.4 63.2
Return on Capital 50.6 32.6 32.6 34.9
Creditors Days 35 62 67 70
Above figures
relate to companies in 1992 Standard Industry Classification (Nace) sector :
Wholesale of household goods
Financial Summary
Auditors
Qualification
The company has taken advantage of exemptions under the Companies Act such that the accounts have not been audited or examined.
No Turnover
The company's balance sheet total is less than GBP 2,800,001 and therefore this is a small company as defined by the Companies Act. It is not required to disclose turnover but it is likely to be less than GBP 5,600,000.
Working Capital
The subject's working capital has improved by 4,000 in the period.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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%)