MIRA INFORM REPORT

Report Date :

18.10.2007

IDENTIFICATION DETAILS

Name :	THE JEWELLERY CHANNEL LIMITED

Registered Office :	32 Queen Anne Street, London, W1G 8HD

Country :	United Kingdom

Financials (as on) :	31.03.2007

Date of Incorporation :	15/12/2005

Com. Reg. No.:	05654854

Legal Form :	Private Limited Liability Company (GB)

Line of Business :	Manufacturers and retailers of jewellery

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company

Payment Behaviour :	No Complaints

Litigation :	Clear

Company Identification Details


Subject Reported on	THE JEWELLERY CHANNEL LIMITED
Trading Address	TEDDINGTON STUDIOS,BROOM RD,TEDDINGTON,TW11 9NT

Telephone	08444-122222

Official Company Data


Legal Form	Private Limited Liability Company (GB)
Registration Number	05654854
Date of Incorporation	15/12/2005
Registered Office	32 Queen Anne Street, London, W1G 8HD
Date of Last Annual Return to Registry	15/12/2006
Activities	Manufacturers and retailers of jewellery
Accounts	The last filed accounts cover the period to 31/03/2007 and were filed on 05/10/2007

Recently Filed Documents

Details of the most recent documents

Date Received	Description
15/12/2006	Annual Return
31/03/2007	Financial Statement / Set of Accounts

It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.

Known Directors

DIRECTOR

MANOJ SHRIMALI

Occupation

DIRECTOR

Address

163, NEMINAGAR VAISHALI NAGAR, RAJASTHAN 302021, INDIA,

Country of Origin

INDIAN

Date of Birth

09/09/1957

Appointment Date

15/12/2005

Other Appointments

THE JEWELLERY CHANNEL LIMITED

DIRECTOR

JOHN DAVID SIMPSON

Occupation

EUROPEAN MD

Address

HEATHERBANKS, GEORGE EYSTON DRIVE, WINCHESTER, HANTS , SO22 4PE

Country of Origin

BRITISH

Date of Birth

16/02/1962

Appointment Date

30/04/2007

Other Appointments

RETAIL VARIATIONS PLC , TEMC LTD, THE JEWELLERY CHANNEL LIMITED

DIRECTOR

SURESH PANJABI

Occupation

DIRECTOR

Address

83, RIVERVIEW AVENUE CLIFFSIDE PARK , NEW JERSEY , USA ,

Country of Origin

AMERICAN

Date of Birth

14/03/1953

Appointment Date

30/07/2007

Other Appointments

THE JEWELLERY CHANNEL LIMITED

DIRECTOR

SANJEEV AGRAWAL

Occupation

DIRECTOR

Address

25, HERONS PLACE , ISLEWORTH , MIDDX , TW7 7BE

Country of Origin

INDIAN

Date of Birth

20/09/1965

Appointment Date

30/07/2007

Other Appointments

STRATA STONES LIMITED, THE JEWELLERY CHANNEL LIMITED

DIRECTOR

SALEEM HATTEEA

Occupation

COMPANY DIRECTOR

Address

BRAYWOOD 1, CLAREMONT AVENUE , CAMBERLEY , SURREY , GU15 2DR

Country of Origin

BRITISH

Date of Birth

09/08/1947

Appointment Date

10/10/2007

Other Appointments

WAAGE JEWELLERY LTD, THE JEWELLERY CHANNEL LIMITED

SECRETARY

MR CHARLES NEWMAN

Address

SWEETBRIAR COTTAGE, LONDON ROAD , WINDLESHAM , SURREY , GU20 6NA

Country of Origin

BRITISH

Date of Birth

21/11/1952

Appointment Date

30/07/2007

Recently Resigned Directors (last 3)


DIRECTOR	SALEEM HATTEEA
Occupation	COMPANY DIRECTOR
Address	BRAYWOOD 1 , CLAREMONT AVENUE , CAMBERLEY , SURREY , - -
Country of Origin	BRITISH
Date of Birth	09/08/1947
Resignation Date	09/10/2007
DIRECTOR	SANJEEV AGRAWAL
Occupation	DIRECTOR
Address	25 , HERONS PLACE , ISLEWORTH , MIDDX , - -
Country of Origin	INDIAN
Date of Birth	20/09/1965
Resignation Date	09/10/2007
DIRECTOR	JULIAN HATTEEA
Occupation	DIRECTOR
Address	45 , ENMORE GARDENS , LONDON , - -
Country of Origin	BRITISH
Date of Birth	21/06/1971
Resignation Date	30/07/2007

Share Summary

Share information is not held for this company.

Mortgages and Charges


Total Registered	2
Total Outstanding	2
Total Satisfied	0
Most Recent Mortgage	30/08/2007


Date Registered	19/09/2007
Type	395
Date Created	30/08/2007
Lender	HAMPTON HILL RICHMOND LIMITED
Secured On	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details	FIXED CHARGE ALL THE COMPANY'S INTEREST IN THE INTEREST EARNING DEPOSIT ACCOUNT TO BE OPENED BY THE LANDLORD'S SOLICITORS BERWIN LEIGHTON PAISNER LLP AT BARCLAYS BANK PLC AND IN WHICH THE LANDLORD SHALL PLACE THE INITIAL DEPOSIT OF 123,375 ("THE DEPOSIT ACCOUNT") SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Satisfied?	No

Date Registered	22/04/2006
Type	395
Date Created	20/04/2006
Lender	HSBC 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 GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY
Satisfied?	No

Public Record Information

Summary of CCJ's/Scottish Decrees

There are 1 exact unsatisfied CCJs totaling GBP 134 in the last 72 months

Details of most recent CCJ's/Scottish Decrees

23/03/2007, a Judgment of "GBP" 134 was made in NORTHAMPTON court (Case No. 7QZ12369 ) against Jewellery Channel Ltd (The), Po Box 408, Teddington, Middlesex, TW11 9XY

Operations


Activities	Manufacturers and retailers of jewellery
Sic Code	Description
5170	Other wholesale
3622	Manufacture of jewellery and related articles not elsewhere classified
Staff Employed	4
Auditors	Sinclairs
Auditors Notes	No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the latest accounts.

Financial Data

The following figures are shown in units of 000

Profit and Loss

Number of Weeks	52
Accounts Date	31/03/2007
Currency	GBP
Consolidated?	No
SALES	13,907
Export Sales	120
Other operating income	545
Cost of goods sold	13,101
GROSS PROFIT	807
Other Expenses	347
General administration costs (-)	3,295
Wages and Salaries	2,078
Depreciation	98
Net Operating Profit(Loss)	-2,290
Non Trading Income	28
Total Non Trading Income	28
Financial Expenses	0
PRE TAX PROFIT	-2,262
PROFIT AFTER TAX	-2,262
Net Loss	2,262
Dividends Payable	0
RETAINED PROFITS	-

Balance Sheet

Number of Weeks	52
Accounts Date	31/03/2007
Currency	GBP
Consolidated?	No
TOTAL FIXED ASSETS	215
Plant, machinery & equipment	215
TOTAL CURRENT ASSETS	4,822
Stocks	3,765
Trade Debtors	196
Other Receivables	100
Prepaid expenses	29
Group Loans	133
Cash	596
own shares	2
TOTAL ASSETS	5,037
TOTAL CURRENT LIABILITIES	7,274
Trade Creditors	461
Bank Overdraft	203
Taxes	266
Other Current Liabilities	334
Due From Group	5,803
Accruals & deferred income	207
WORKING CAPITAL	-2,452
TOTAL LONG TERM LIABS	0
NET ASSETS/(LIABILITIES)	-2,237
SHARE CAPITAL + RESERVES	-2,237
Issued Share Capital	25
Profit and Loss account	-2,262
SHAREHOLDERS FUNDS	-2,237
CAPITAL EMPLOYED	-2,237
TANGIBLE NET WORTH	-2,237

Key Credit Ratios

Accounts Date	31/03/2007
Current Ratio	0.66
Profit Before Tax	-0.16
Creditors Days (D.P.O)	12.84
Quick Ratio	0.15
Return on Assets	-44.91
T.N.W/Total Assets	-0.44
Return on Capital	101.12
Working Capital/Sales	0.00
Stock Turnover	0.00

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.	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

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%)

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